ASIAN FLEXI PACK INDIA PRIVATE LIMITED - 491630 13-FEB-2018.HTM PAGE NO.

: 1

MIRA INFORM REPORT

Report No. : 491630

Report Date : 13.02.2018

IDENTIFICATION DETAILS

Name : ASIAN FLEXI PACK INDIA PRIVATE LIMITED

Registered Office : 278/P1, Morbi - Rajkot Highway, Opposite Ajanta Clock Mfg., Behind Maruti
Tractor, Village: Virpar, Taluka: Tankara, Rajkot – 363641, Gujarat
Tel. No.: 91-2822-233355

Country : India

Financials (as on) : 31.03.2017

Date of Incorporation : 02.06.2009

Com. Reg. No.: 04-057127

Capital Investment / Paid- INR 6.812 Million

up Capital :

CIN No.: U25202GJ2009PTC057127

[Company Identification No.]

IEC No.: Not Divulged

GSTIN/UIN : Not Divulged

TAN No.: Not Available

[Tax Deduction & Collection
Account No.]

PAN No.: AAHCA7492G

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
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[Permanent Account No.]

Legal Form : Private Limited Liability Company

Line of Business : Manufacturing of laminated plastic pouches and rolls. [Registered Activity]

No. of Employees : Information denied by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

MIRA’s Rating : A

Credit Rating Explanation Rating Comments

A Acceptable Risk Business dealings permissible with moderate risk of default

Maximum Credit Limit : USD 140000

Status : Satisfactory

Payment Behaviour : Usually correct

Litigation : Clear

Comments : Subject was incorporated in the year 2009 and it is having satisfactory track
records.

For the financial year 2017, the company has registered decrease in its revenue
from operations as compared to previous year and maintained minimal profit
margin of 1.90%.

Rating takes into consideration sound financial profile of the company marked
by adequate networth base and average debt balance sheet.

However, rating strength is partially offset by declined in the revenue during the
year.

Trade relations are fair. Business is active. Payments are seem to be usually
correct.

In view of the aforesaid, the company can be considered for business dealing at
usual trade terms and conditions.

NOTES:
Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number,
name and date.

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ECGC Country Risk Classification List

Country Name Previous Rating Current Rating

(30.06.2017) (30.09.2017)
India A1 A1

Risk Category ECGC Classification

Insignificant A1
Low Risk A2
Moderately Low Risk B1
Moderate Risk B2
Moderately High Risk C1
High Risk C2
Very High Risk D

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’
list as of 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 13.02.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of
report date.

INFORMATION DENIED

Management Non-Cooperative (91-9099671670)

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LOCATIONS

Registered Office : 278/P1, Morbi - Rajkot Highway, Opposite Ajanta Clock Mfg., Behind Maruti
Tractor, Village: Virpar, Taluka: Tankara, Rajkot – 363641, Gujarat, India
Tel. No.: 91-2822-233355
Fax No.: 91-2822-233366
E-Mail : asianflexipack@gmail.com
info@asianflexipack.com
Website : http://www.asianflexipack.com

DIRECTORS

AS ON 31.03.2017

Name : Mr. Raghavjibhai Jivrajbhai Gadara

Designation : Director
Address : Chandramauli, Krishna Nagar Society, Morvi – 363641, Gujarat, India
Date of Birth/Age : 20.04.1951
Date of Appointment : 02.06.2009
DIN No.: 00535445

Name : Mr. Jayantilal Vallabhbhai Baraiya

Designation : Director
Address : 3, Krushna Nagar, Sanala Road, Taluka: Morbi, District: Rajkot, Morbi – 363641,
Gujarat, India
Date of Birth/Age : 03.07.1977
Date of Appointment : 02.06.2009
DIN No.: 02649298
Other Directorship:
CIN/FCRN Company Name Begin End
Date Date
U26933GJ2010PTC061601 DELFINA CERAMIC PRIVATE LIMITED 30/11/2011 -
U26900GJ2014PTC078857 ORFINA CERAMIC PRIVATE LIMITED 21/02/2014 -

Name : Mr. Manish Rasikbhai Gadara

Designation : Director
Address : Divya Jivan Society, Opposite New Bus Stand, Sanala Road, Morbi – 363641,
Gujarat, India
Date of Birth/Age : 03.12.1983
Date of Appointment : 02.06.2009
DIN No.: 02649306
Other Directorship:
CIN/FCRN Company Name Begin End
Date Date
U25200GJ2011PTC066375 QREX FLEX PRIVATE LIMITED 10/07/2012 -

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
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verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
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U26999GJ2016PTC094240 LIOLI CERAMICA PRIVATE LIMITED 28/10/2016 -

Name : Mr. Jayntilal Amashibhai Bhut

Designation : Director
Address : Vijay Nagar, Ravapar Road, Morbi – 363641, Gujarat, India
Date of Birth/Age : 20.03.1970
Date of Appointment : 02.06.2009
DIN No.: 02649309

Name : Mr. Pravinkumar Mavjibhai Chaniyara

Designation : Director
Address : Prashil Park, Block No. 217, University Road, Mujanka – 360001, Gujarat, India
Date of Birth/Age : 10.01.1980
Date of Appointment : 02.06.2009
DIN No.: 02649322
Other Directorship:
CIN/FCRN Company Name Begin Date End
Date
U15209GJ2010PTC059310 ABABIIL AGROTRADE PRIVATE LIMITED 06/11/2013 -
U70102MH2012PTC236175 NEWEMPIRE INFRASTRUCTURE PRIVATE LIMITED 08/10/2013 -

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders No. of Shares

Manish Rasiklal Gadara 67761
Raghavjibhai Jivrajbhai Gadara 35996
Pravinkumar Mavjibhai Chaniyara 7047
Jayantilal Vallabhbhai Baraiya 61000
Jayntilal Amashibhai Bhut 56292
Amit Raghavjibhai Gadara 5630
Chandubhai Jivrajbhai Gadara 10000
Jasuben Jayantibhai Gadara 45801
Kishor Amarshibhai Bhut 11370
Manekben Raghavjibhai Gadara 31322
Minaben Prabhubhai Bhut 37817
Muktaben Rashikbhai Gadara 43000
Rashik Jivrajbhai Gadara 15341
Sangita Kishorbhia Bhut 31814
Jitendrabhai Rasikbhai Gadara 50151
Vijayaben Jivrajbhai Gadara 500
Reemaben Amitbhai Patel 24975
Harshidaben Pravinbhai Chaniyara 40809
Mavjibhai Chhaganbhai Chaniyara 4000
Anjanaben Rajeshbhai Chaniyara 7800

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
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Rajeshbhai Mavjibhai Chaniyara 6984

Anjanaben Jayantilal Bariya 9015
Prabhubhai Amrishbhai Bhut 11750
R. C. Gems 25000
Amiben Manishbhai Gadara 40000

Total 681175

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2017

Category Percentage
Promoters [Individual/Hindu Undivided Family (Indian)] 33.49
Public/Other than promoters [Body corporate] 62.84
Public/Other than promoters [Others (R C Gems)] 3.67
Total 100.00

Share holding pattern

Promoters [Individual/Hindu Undivided Family (Indian)]
Public/Other than promoters [Body corporate]
Public/Other than promoters [Others (R C Gems)]

3.67

33.49

62.84

BUSINESS DETAILS

Line of Business : Manufacturing of laminated plastic pouches and rolls. [Registered Activity]

Products / Services : Name and Description of main products / services ITC Code

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
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Polymers of ethylene in primary forms 39011090

Brand Names : Not Available

Agencies Held : Not Available

Exports : Not Divulged

Imports : Not Divulged

Terms : Not Divulged

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers : Reference : Not Divulged

Name of the Person : --
Contact No.: --
Since How Long Known : --
Maximum Limit Dealt : --
Experience : --
Remark : --

Customers :
Reference : Not Divulged
Name of the Person : --
Contact No.: --
Since How Long Known : --
Maximum Limit Dealt : --
Experience : --
Remark : --

No. of Employees : Information denied by the management

Bankers : Banker Name : The Cosmso Co-Operative Bank Limited

Branch : Sky Mall, 1st Floor, Sanala Road, Morbi –
363641, Gujarat, India
Person Name (With --
Designation) :
Contact Number : --
Name of Account Holder : --
Account Number : --
Account Since (Date/Year of --
Account Opening) :

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
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Average Balance Maintained : --

Credit Facilities Enjoyed --
(CC/OD/Term Loan) :
Account Operation : --
Remark : --

Facilities : SECURED LOANS 31.03.2017 31.03.2016

INR In Million INR In Million
LONG TERM BORROWINGS
Term loans from banks
Term loan-I from The Cosmso Co-Operative 0.000 0.660
Bank Limited [80198] (Repayable as per
banks extant guideline, [against equitable
mortgage of factory land and building and
hypothecation of plant and machinery
situated at Morbi] Also EQM. of some other
properties situated at Morbi)
Term loan-II from The Cosmso Co-Operative 0.000 3.106
Bank Limited [80213] (Repayable as per
banks extant guideline, [against equitable
mortgage of factory land and building and
hypothecation of plant and machinery
situated at Morbi] Also EQM. of some other
properties situated at Morbi)
Term loan-III from The Cosmso Co- 5.819 0.000
Operative Bank Limited [80718] (Repayable
as per banks extant guideline, [against
equitable mortgage of factory land and
building and hypothecation of plant and
machinery situated at Morbi] Also EQM. of
some other properties situated at Morbi)
Term loan-IV from The Cosmso Co- 3.179 6.377
Operative Bank Limited [80277] (Repayable
as per banks extant guideline, [against
equitable mortgage of factory land and
building and hypothecation of plant and
machinery situated at Morbi] Also EQM. of
some other properties situated at Morbi)
Term loan-V from The Cosmso Co- 5.543 7.975
Operative Bank Limited [80277] (Repayable
as per banks extant guideline, [against
equitable mortgage of factory land and
building and hypothecation of plant and
machinery situated at Morbi] Also EQM. of
some other properties situated at Morbi)
Car loan-I from HDFC Bank Limited 0.442 0.659
(Repayable as per banks extant guideline,
[against hypothecation of vehicle])
(In case of continuing default a on the

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balance sheet date in repayment of loans

and interest with respect to above loan)
Car loan-II from HDFC Bank Limited 0.384 0.990
(Repayable as per banks extant guideline,
[against hypothecation of vehicle])
(In case of continuing default a on the
balance sheet date in repayment of loans
and interest with respect to above loan)
Car loan-III from HDFC Bank Limited 0.598 1.055
(Repayable as per banks extant guideline,
[against hypothecation of vehicle])
(In case of continuing default a on the
balance sheet date in repayment of loans
and interest with respect to above loan)
Car loan-IV from HDFC Bank Limited 3.269 0.000
(Repayable as per banks extant guideline,
[against hypothecation of vehicle])
(In case of continuing default a on the
balance sheet date in repayment of loans
and interest with respect to above loan)

SHORT TERM BORROWINGS

Cash credit from The Cosmso Co-Operative 60.667 47.424
Bank Limited (Repayable on demand
[against hypothecation of all types of stock
and book debts])

Total 79.901 68.246

Auditors :
Name : S. Sharda and Associates
Chartered Accountants
Address : Naveen Kumar Mandovara, Sarda House, 13/14 Savsar Plot, Nr. Dr. Vadaliya
Hospital, Sanala Road, Morbi – 363641, Gujarat, India
PAN No.: AAAFZ3476D

Memberships : Not Available

Collaborators : Not Available

Associates/Subsidiaries : --

CAPITAL STRUCTURE

AS ON 30.09.2017

Authorised Capital :

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
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No. of Shares Type Value Amount

1000000 Equity Shares INR 10/- each INR 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares Type Value Amount

681175 Equity Shares INR 10/- each INR 6.812 Million

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
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FINANCIAL DATA
[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS 31.03.2017 31.03.2016 31.03.2015

I. EQUITY AND LIABILITIES

(1)Shareholders' Funds
(a) Share Capital 6.812 6.210 2.710
(b) Reserves & Surplus 42.486 33.072 27.131
(c) Money received against share warrants 0.000 0.000 0.000

(2) Share Application money pending allotment 0.000 0.000 0.000

Total Shareholders’ Funds (1) + (2) 49.298 39.282 29.841

(3) Non-Current Liabilities

(a) Long-term borrowings 49.776 46.268 59.017
(b) Deferred tax liabilities (Net) 2.259 1.244 1.311
(c) Other long term liabilities 0.000 0.000 0.000
(d) Long-term provisions 0.000 0.000 0.000
Total Non-current Liabilities (3) 52.035 47.512 60.328

(4) Current Liabilities

(a) Short term borrowings 60.667 47.424 49.485
(b) Trade payables 42.376 59.406 38.741
(c) Other current liabilities 19.506 16.596 47.662
(d) Short-term provisions 1.974 0.585 0.803
Total Current Liabilities (4) 124.523 124.011 136.691

TOTAL 225.856 210.805 226.860

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets 70.959 64.079 69.432
(ii) Intangible Assets 0.000 0.000 0.000
(iii) Capital work-in-progress 0.000 0.000 0.000
(iv) Intangible assets under development 0.000 0.000 0.000
(b) Non-current Investments 0.000 0.000 0.000
(c) Deferred tax assets (net) 0.000 0.000 0.000
(d) Long-term Loan and Advances 2.133 1.399 1.274
(e) Other Non-current assets 0.000 0.000 0.000
Total Non-Current Assets 73.092 65.478 70.706

(2) Current assets

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
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(a) Current investments 0.820 0.320 0.070

(b) Inventories 76.445 87.178 97.750
(c) Trade receivables 63.480 46.976 38.067
(d) Cash and cash equivalents 6.234 6.076 10.185
(e) Short-term loans and advances 5.636 4.566 9.891
(f) Other current assets 0.149 0.211 0.191
Total Current Assets 152.764 145.327 156.154

TOTAL 225.856 210.805 226.860

PROFIT & LOSS ACCOUNT

PARTICULARS 31.03.2017 31.03.2016 31.03.2015

SALES
Income 327.881 371.502 364.649
Other Income 0.309 0.304 0.182
TOTAL 328.190 371.806 364.831

Less EXPENSES
Cost of Materials Consumed 264.287 317.905 323.704
Changes in Inventories of finished goods, 5.374 (0.540) (5.225)
work-in-progress and stock-in-trade
Employee Benefits Expenses 7.526 5.872 4.743
Other Expenses 22.115 20.002 18.242
TOTAL 299.302 343.239 341.464

PROFIT/(LOSS) BEFORE INTEREST, TAX, 28.888 28.567 23.367

DEPRECIATION AND AMORTISATION

Less FINANCIAL EXPENSES 10.320 11.000 11.236

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION 18.568 17.567 12.131

AND AMORTISATION

Less DEPRECIATION/ AMORTISATION 9.674 9.703 9.002

PROFIT/(LOSS) BEFORE TAX 8.894 7.864 3.129

Less TAX 2.668 1.922 0.976

PROFIT/(LOSS) AFTER TAX 6.226 5.942 2.153

Earnings / (Loss) Per Share (INR) 9.14 9.57 7.95

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
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Particulars 31.03.2017 31.03.2016 31.03.2015

Current Maturities of Long term debt 11.033 9.753 9.193

Cash generated from operations NA NA NA
Net cash flow from (used in) operations NA NA NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS 31.03.2017 31.03.2016 31.03.2015

Average Collection Days 70.67 46.15 38.10

(Sundry Debtors / Income * 365 Days)

Account Receivables Turnover 5.17 7.91 9.58

(Income / Sundry Debtors)

Average Payment Days 58.52 68.21 43.68

(Sundry Creditors / Purchases * 365 Days)

Inventory Turnover 0.38 0.33 0.24

(Operating Income / Inventories)

Asset Turnover 0.41 0.45 0.34

(Operating Income / Net Fixed Assets)

LEVERAGE RATIOS

PARTICULARS 31.03.2017 31.03.2016 31.03.2015

Debt Ratio 0.82 0.85 0.90

((Borrowing + Current Liabilities) / Total Assets)

Debt Equity Ratio 2.46 2.63 3.94

(Total Liability / Networth)

Current Liabilities to Networth 2.53 3.16 4.58

(Current Liabilities / Net Worth)

Fixed Assets to Networth 1.44 1.63 2.33

(Net Fixed Assets / Networth)

Interest Coverage Ratio 2.80 2.60 2.08

(PBIT / Financial Charges)

PROFITABILITY RATIOS

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
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PARTICULARS 31.03.2017 31.03.2016 31.03.2015

PAT to Sales % 1.90 1.60 0.59

((PAT / Sales) * 100)

Return on Total Assets % 2.76 2.82 0.95

((PAT / Total Assets) * 100)

Return on Investment (ROI) % 12.63 15.13 7.21

((PAT / Networth) * 100)

SOLVENCY RATIOS

PARTICULARS 31.03.2017 31.03.2016 31.03.2015

Current Ratio 1.23 1.17 1.14

(Current Assets / Current Liabilities)

Quick Ratio 0.61 0.47 0.43

((Current Assets – Inventories) / Current Liabilities)

G-Score Ratio Financial 0.22 0.19 0.13

(Networth / Total Assets)

G-Score Ratio Debt 17.83 16.66 43.43

(Debts / Equity Capital)

G-Score Ratio Liquidity 1.23 1.17 1.14

(Total Current Assets / Total Current Liabilities)
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS
[all figures are in INR Million]

DEBT EQUITY RATIO

Particular 31.03.2015 31.03.2016 31.03.2017

INR In Million INR In Million INR In Million
Share Capital 2.710 6.210 6.812
Reserves & Surplus 27.131 33.072 42.486
Net worth 29.841 39.282 49.298

Long Term borrowings 59.017 46.268 49.776

Short Term borrowings 49.485 47.424 60.667
Current maturities of long term debt 9.193 9.753 11.033
Total borrowings 117.695 103.445 121.476
Debt/Equity ratio 3.944 2.633 2.464

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
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Debt to Equity
140.000 121.476
117.695
120.000 103.445
INR in Million

100.000
80.000
60.000 49.298
39.282
40.000 29.841
20.000
0.000
31.03.2015 31.03.2016 31.03.2017
Years

Net worth Total borrowings

YEAR-ON-YEAR GROWTH

Year on Year Growth 31.03.2015 31.03.2016 31.03.2017

INR In Million INR In Million INR In Million
Sales 364.649 371.502 327.881
1.879 (11.742)

Year-on-Year Growth
380.000 371.502
370.000 364.649
360.000
INR in Million

350.000
340.000
327.881
330.000
320.000
310.000
300.000
31.03.2015 31.03.2016 31.03.2017
Years

NET PROFIT MARGIN

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
debtors/beneficiaries in fulfilling their obligations of any nature whatsoever. This Report or any of its portion shall not be used as a documentary evidence or
otherwise before any investigative agencies or forum of law. This Report is confidential and proprietary to MIPL. The Subscriber and/or any other person(s) may
not reproduce, publish or disclose any of the contents of the Report to others without the express authorization of MIPL. This Report is prepared and issued to the
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Net Profit Margin 31.03.2015 31.03.2016 31.03.2017

INR In Million INR In Million INR In Million
Sales 364.649 371.502 327.881
Profit/(Loss) 2.153 5.942 6.226
0.59% 1.60% 1.90%

Net Profit Margin

2.50%

2.00% 1.90%
1.60%
1.50%
IN (%)

1.00%
0.59%
0.50%

0.00%
31.03.2015 31.03.2016 31.03.2017
Years

LOCAL AGENCY FURTHER INFORMATION

Sr. Check list by info agents Available in Report (Yes/No)

No.
1 Year of establishment Yes
2 Constitution of the entity -Incorporation details Yes
3 Locality of the entity Yes
4 Premises details No
5 Buyer visit details --
6 Contact numbers Yes
7 Name of the person contacted No
8 Designation of contact person No
9 Promoter’s background Yes
10 Date of Birth of Proprietor / Partners / Directors Yes
11 Pan Card No. of Proprietor / Partners No
12 Voter Id Card No. of Proprietor / Partners No
13 Type of business Yes
14 Line of Business Yes
15 Export/import details (if applicable) No
16 No. of employees No

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
debtors/beneficiaries in fulfilling their obligations of any nature whatsoever. This Report or any of its portion shall not be used as a documentary evidence or
otherwise before any investigative agencies or forum of law. This Report is confidential and proprietary to MIPL. The Subscriber and/or any other person(s) may
not reproduce, publish or disclose any of the contents of the Report to others without the express authorization of MIPL. This Report is prepared and issued to the
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17 Details of sister concerns No

18 Major suppliers No
19 Major customers No
20 Banking Details Yes
21 Banking facility details Yes
22 Conduct of the banking account --
23 Financials, if provided Yes
24 Capital in the business Yes
25 Last accounts filed at ROC, if applicable Yes
26 Turnover of firm for last three years Yes
27 Reasons for variation <> 20% --
28 Estimation for coming financial year No
29 Profitability for last three years Yes
30 Major shareholders, if available Yes
31 External Agency Rating, if available No
32 Litigations that the firm/promoter involved in --
33 Market information --
34 Payments terms No
35 Negative Reporting by Auditors in the Annual Report No

OPERATIONS AND DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR:

During the year, the company’s operational performance has been satisfactory as the company has reported total
income of INR 328.100 million for the current year as compared to INR 371.800 million in the previous year the
company has net profit of INR 6.226 million for the current year as compared to INR 5.942 million in the previous
year. The company has set up a good marketing network and is focusing on operational efficiency reduction of
cost at all levels and better working capital management. The directors are hopeful that in the coming years the
company will perform much better. The product of the company has received good response in the market. The
directors are hopeful and enthusiastic about the future prospects of the company.

UNSECURED LOANS:

PARTICULARS 31.03.2017 31.03.2016

INR In Million INR In Million
LONG TERM BORROWINGS
From Director, shareholders and relatives 30.542 25.446

Total 30.542 25.446

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
debtors/beneficiaries in fulfilling their obligations of any nature whatsoever. This Report or any of its portion shall not be used as a documentary evidence or
otherwise before any investigative agencies or forum of law. This Report is confidential and proprietary to MIPL. The Subscriber and/or any other person(s) may
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INDEX OF CHARGES:

S SRN Charge Charge Holder Date of Date of Date of Amount Address

No Id Name Creatio Modific Satisfac
n ation tion
THE COSMSO SKY MALL, 1ST
G3334 104019 CO- 02/02/2 22/12/2 FLOOR, SANALA
1 - 156000000.0
9812 05 OPERATIVE 013 016 ROAD, MORBI
BANK LIMITED GJ363641IN
RAVAPAR ROAD
B6777 101814 SAURASHTRA 12/10/2 21/03/2 07/02/2
2 46000000.0 MORBI
7961 05 GRAMIN BANK 009 012 013
GJ363641IN

FIXED ASSETS:

 Land
 Factory Shed
 Flat-603
 Plant and Machinery
 Office Equipment
 CCTV Camera
 Scooter
 Furniture
 Vehicle
 Electrification
 Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts,
India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior
officers as terrorist or terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or
bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :
No records exist to suggest that subject is or was the subject of any formal or informal allegations,
prosecutions or other official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
debtors/beneficiaries in fulfilling their obligations of any nature whatsoever. This Report or any of its portion shall not be used as a documentary evidence or
otherwise before any investigative agencies or forum of law. This Report is confidential and proprietary to MIPL. The Subscriber and/or any other person(s) may
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No records exist to suggest that the property or assets of the subject are derived from criminal conduct or
a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records
No available information exist that suggest that subject or any of its principals have been formally charged
or convicted by a competent governmental authority for any financial crime or under any formal
investigation by a competent government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer
or employee of the company is a government official or a family member or close business associate of a
Government official.

9] Compensation Package :
Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable
and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify
management and governance. These factors often have been predictive and in some cases have created
vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its
Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or
otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency Unit INR

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
debtors/beneficiaries in fulfilling their obligations of any nature whatsoever. This Report or any of its portion shall not be used as a documentary evidence or
otherwise before any investigative agencies or forum of law. This Report is confidential and proprietary to MIPL. The Subscriber and/or any other person(s) may
not reproduce, publish or disclose any of the contents of the Report to others without the express authorization of MIPL. This Report is prepared and issued to the
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US Dollar 1 INR 64.28

UK Pound 1 INR 89.02
Euro 1 INR 78.93

INFORMATION DETAILS

Information Gathered by : KMN

Analysis Done by : PSD

Report Prepared by : NKT

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
the contents of the Report merely as an aid to its business. Mira Inform Private Limited (“MIPL”) has collated information/data in the Report, which have not been
verified unless otherwise specifically mentioned in the Report. The Subscriber shall independently verify the accuracy and correctness of the information/data
before in any way acting upon the same. MIPL shall not be liable for any harm, injury, loss or damage caused to the Subscriber due to default by the Subscriber’s
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SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES YES/NO YES
--LITIGATION YES/NO NO
--OTHER ADVERSE INFORMATION YES/NO NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP YES/NO NO
--EXPORT ACTIVITIES YES/NO NO
--AFFILIATION YES/NO NO
--LISTED YES/NO NO
--OTHER MERIT FACTORS YES/NO YES

RATING EXPLANATIONS

Credit Rating Explanation Rating Comments

A++ Minimum Risk Business dealings permissible with minimum risk of default
A+ Low Risk Business dealings permissible with low risk of default
A Acceptable Risk Business dealings permissible with moderate risk of default
B Medium Risk Business dealings permissible on a regular monitoring basis
C Medium High Risk Business dealings permissible preferably on secured basis
D High Risk Business dealing not recommended or on secured terms only
NB New Business No recommendation can be done due to business in infancy stage
NT No Trace No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as
unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections of this report. The
assessed factors are as follows:

 Financial condition covering various ratios

 Company background and operations size
 Promoters / Management background
 Payment record
 Litigation against the subject
 Industry scenario / competitor analysis
 Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in
determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not
reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any

DISCLAIMER : This Report is PRIVATE & CONFIDENTIAL and it is prepared at the request of and for its use by the Subscriber only. The Subscriber shall use
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