MIRA INFORM REPORT

Report Date :

15^TH May, 2006

IDENTIFICATION DETAILS

Name :	KRYFS LAMINATIONS PRIVATE LIMITED
Registered Office :	101, Classic Corner, 133, Hill Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Country :	India
Financials (as on) :	31.03.2005
Date of Incorporation :	5^th March, 1991
CIN No.:	U25209MH2003PTC060602
Com. Reg. No.:	11-60602
TAN No.: (Tax Deduction & Collection Account No.)	MUMK10554F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Transformer Laminations/Torroidal Cores and Transformer Cores

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 350000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track records. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. Input for this was parted by Mr. Ilyas Gadriwala (General Manager – Commercial) of the company.

LOCATIONS

Registered Office :	101, Classic Corner, 133, Hill Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Tel. No.:	91-22-26443522 (5 Lines)
Fax No.:	91-22-26434462/26434402
E-Mail :	1. sales@kryfs.com 2. saifq@vsnl.com
Website :	http://www.kryfs.com
Factory 1 :	· Plot No. 75, Diwan Industrial Estate, Palghar – 401 404, Maharashtra Tel. No. 91-2525-254780 Fax. No. 91-2525-253084 · Survey No. 211/1, Next to Hamco Kherdi Village, Dadara & Nagar Haveli – 396 230, Union Territory Tel. No. 91-2521-232061/7/8 Fax. No. 91-2521-232069

DIRECTORS

Name :	Mr. Fakhruddin Bakirali Qureishi
Designation :	Chairman
Address :	1101, Diago'w' Sherly Rajan Road, Bandra (West), Mumbai - 400050, Maharashtra
Date of Birth/Age :	19.09.1941
Qualification :	B. Com – Mumbai University
Experience :	42 Years
Date of Appointment :	5.03.1991
Profile :-	He is the guiding force of the company and his values and ethics form the backbone of the company’s philosophy.
Name :	Mr. Saifuddin Fakhurddin Qureishi
Designation :	Managing Director
Address :	1101, Diago'w' Sherly Rajan Road, Bandra (West), Mumbai - 400050, Maharashtra
Date of Birth/Age :	12.05.1964
Qualification :	MBA from Indian Institute of Management (Bangalore) and a Bachelor in Science (Physics) from St. Xaviers College, Mumbai
Experience :	15 Years
Date of Appointment :	5.03.1991
Profile :-	Manages Finance, Strategic Planning and Business Development
Name :	Mr. Rauzat S. Qureishi
Designation :	Director
Address :	1101, Diago'w' Sherly Rajan Road, Bandra (West), Mumbai - 400050, Maharashtra
Date of Birth/Age :	1.03.1967
Qualification :	B. A.
Experience :	7 years
Date of Appointment :	30.09.1999
Name :	Mr. Kulsum Fakhruddin Qureishi
Designation :	Director
Address :	1101, Diago'w' Sherly Rajan Road, Bandra (West), Mumbai - 400050, Maharashtra
Date of Birth/Age :	13.06.1946
Qualification :	B. A
Experience :	7 years
Date of Appointment :	1.04.2002

KEY EXECUTIVES

Other personnel

Mr. Stanley D’ Costa	Vice President
Mr. Ilyas Gadriwala	General Manager (Commercial)
Mr. G. Thangavel	Marketing Manager
Mr. Mohan Trivedi	Works Manager
Mr. Vijay Dubey	Works Manager
Mr. Sandeep Bhosale	Quality Control Manager

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Mr. Saifuddin Fakhruddin Qureishi	753010
Mr. Fakhruddin Bakirali Qureishi	420210
Mrs. Kulsum Fakkhruddin Qureishi	120000
Mrs. Yasmin Minhaz Karachiwala	20000
Mr. Rauzat Saifuddin Qureishi	20000

BUSINESS DETAILS

Line of Business :	Manufacturing of Transformer Laminations/Torroidal Cores and Transformer Cores
Products :	v Stacked Transformer Core (also known as Transformer Lamination) v Torroidal Core (Round and Rectangular) v CRGO Strips and Slit Coils v Electrical Laminations v Transformer Cores & Silicon Steel Strip/ Coils v Polyester Round & Webbing Slings
Exports to :	Korea, China, USA, Russia, Egypt, Muscat, Abu-Dhabi, Saudi Arabia.
Imports from :	CRGO Silicon Electrical Steel from USA, Russia, Germany and Japan
Terms :
Selling :	L/C or Credit (60 days) terms
Purchasing :	L/C or Credit (90 days) terms.

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Electrical Laminations, strips & Cores	M.T.	10000.00	6507.097
Polyester Slings	Nos.	15000	11878

GENERAL INFORMATION

Customers :	End users and OEM’s
No. of Employees :	230
Bankers :	v Bank of India, Mumbai Corporate Banking Branch, M. G. Road, Fort, Mumbai – 400 023 v Hong Kong Bank v Shanghai Bank v Bombay Mercantile Cooperative Bank, Foreign Exchange Department, 69 P D Mella Road, Carnac Bunder, Mimbai – 400069 v Maharashtra State Financial Corporation, New Excelsior Building, 5^th 7^th 8^th and 9^th floor, Amrit Keshav Nayak Marg, Mumbai – 400001
Facilities :	Secured Loan Bank of India – 103.737 Millions Hong Kong Bank & Shanghai Bank – Rs. 4.494 Millions Vehicle Loans from Bank – Rs. 2.096 Millions Total – Rs. 110.328 Millions

Banking Relations :	Satisfactory
Auditors :	A. S. Kanchwalla & Associates Chartered Accountants
Address:	Fine Mansion, 3^rd Floor, Dr. D. N. Road, Mumbai – 400 001, Maharashtra
Tel. No.:	91-22-2622802
Associates/Subsidiaries :	Qureishi Enterprises 14, Euergreen Industrial Estate, Mahalaxmi, Mumbai - 400011, Maharashtra Trading in Material Handling Equipments and Cutlery Items Fairco Exports 101, Classic Corner, 133, Hill Road, Bandra (West), Mumbai - 400050, Maharashtra Trading in Electrical Steel Saifco Industries Trading in Presspahn Paper / Fibre Sheets

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
20,00,000	Equity Shares	Rs.10/- each	Rs. 20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13,33,200	Equity Shares	Rs.10/- each	Rs. 13.332 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2005	31.03.2004	31.03.2003
SHAREHOLDERS FUNDS
1] Share Capital		13.332	13.332	13.332
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		78.324	48.557	41.085
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		91.656	61.889	54.417
LOAN FUNDS
1] Secured Loans		110.328	54.778	59.626
2] Unsecured Loans		4.140	5.176	5.241
TOTAL BORROWING		114.468	59.954	64.867
DEFERRED TAX LIABILITIES		1.760	1.477	0.264
TOTAL		207.884	123.320	119.548
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		76.501	55.047	28.911
Capital work-in-progress		2.589	0.000	0.347
INVESTMENT		0.517	0.018	0.018
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	34.557	32.854	28.128
	Sundry Debtors	101.868	91.130	61.041
	Cash & Bank Balances	15.234	4.835	6.759
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	40.273	20.589	20.219
Total Current Assets		191.932	149.408	116.147
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	63.655	76.486	22.339
	Provisions	0.000	4.667	3.536
Total Current Liabilities		63.655	81.153	25.875
Net Current Assets		128.277	68.255	90.272
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		207.884	123.320	119.548

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2005	31.03.2004	31.03.2003
Sales Turnover [including other income]	775.592	414.056	270.148
Profit/(Loss) Before Tax	40.147	11.296	6.808
Provision for Taxation	9.239	3.073	1.934
Profit/(Loss) After Tax	30.908	8.223	4.874
Export Value	62.585	9.925	13.384
Import Value	NA	175.807	100.645
Total Expenditure	735.444	402.760	263.340

KEY RATIOS

PARTICULARS		31.03.2005	31.03.2004	31.03.2003
PAT / Total Income	(%)	3.98	1.98	1.80
Net Profit Margin (PBT/Sales)	(%)	5.17	2.72	2.52
Return on Total Assets (PBT/Total Assets}	(%)	14.95	5.52	4.69
Return on Investment (ROI) (PBT/Networth)		0.43	0.18	0.12
Debt Equity Ratio (Total Liability/Networth)		1.94	2.28	1.66
Current Ratio (Current Asset/Current Liability)		3.01	1.84	4.48

LOCAL AGENCY FURTHER INFORMATION

HISTORY

Subject was incorporated on 5^th March, 1991 at Mumbai in Maharashtra having Company Registration Number 60602.

The company was established in 1992 with the aim of producing high quality transformer core and laminations for supply to the transformer industry.

The company commenced manufacturing of Transformer Laminations, from Cold Rolled Grain Oriented Steel (CRGO) in the year 1993, at its unit in Palghar, located at 75 kms North of Bombay City (India).

In 1997, the company has set up a second plant at Kherdi (DNH), 140 kms North Mumbai City.

The company, in 2003, had a total installed capacity to manufacture 4000 Metric Tonnes per annum of Transformer Laminations and 100 MT of torroidal cores. It is India’s first ISO 9000 certified facility for manufacturing of Transformer Laminations and Slings.

Subject is the first and only ISO 9002 accredited transformer core manufacture in India, is a Private Limited Company based in India, established in 1992 with the aim of producing high quality transformer core laminations and round core for supply to the Transformer Industry.

Subject has 2 plants located at Palghar ( 80 kms North of Bombay city ) and Kherdi ( 140 kms North of Bombay.

It is in trade terms with :-

Y EBG India Private Limited

303, Sigma Technologies Street,

Hirananwadi Garden Commercial Complex,

Mumbai – 400 076, Maharashtra

Y Bharat Bijlee Limited

Post No. 100, Plot No. 2, MIDC Industrial Estate,

Thane Belapur Road, Kalwas,

Thane - 400 601, Maharashtra

Y Alstom

Naini Works, P. O. Naini,

Allahabad – 211 008, Uttar Pradesh

Y Overseas Development Corporation, U.S.A.

Y DUFERCO, Switzerland

Y Transmetal, Germany

Y C. V. International, U.S.A.

The company is providing following facilities :-

Y Roller hearth annealing furnace for stress relief (temp. upto 8400 C)

Y Slitting machine for slitting silicon steel coils from 0.18 mm to 0.5 mm thick and upto 1000 mm width

Y Shearing machines

Y Power Presses

Y Blade grinding machines

Y Overhead cranes

Y Jib Crane

Y Deburring machine

Y Soken Single Sheet (Japanese) core loss tester

Y Round Sling machine

Y Measuring instruments and gauges

Y Avery platform and electronic scales

Y Pit type furnace for annealing torroidal cores

Y Spray painint apparatus

Y Welding machines

Y Torroidal Core testing equipment

Y Electronic weighing scales and Camlok Crane weighing machine

BUSINESS

Subject is engaged in manufacturing of Transformer Laminations/Torroidal Cores and Transformer Cores (Capacity of 10,000 MT per annum).

Subject is also engaged in manufacturing of material handling equipments like Slings, Lashings and Harnesses.

The company sells it’s products under the brand name “Polyster Slings – Slingset.

The company has been accredited with ISO 9002 certification.

Fixed Assets:

v Factory Building

v Furniture & Fixture

v Plant & Machinery

v Electrical Installations

v Vehicles

Name of the company

KRYFS LAMINATIONS PRIVATE LIMITED

Presented By

Bank of India, Mumbai Corporate Banking Branch, M. G. Road, Fort, Mumbai – 400 023

1) Date and description of instrument creating the change

Dated 24.08.2001

No instrument by mortgage was created by way of deposit of the title deeds in respect of the village Mahim Regis. Sub-dist, Palghar

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 77.000 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

All that the piece or parcel or parcel of land together with hereditament and primises and building , Plot of land bearing No. 75 foorming and 433/4 within the Village limits of Mahim in the Taluka Regis. Sub-dist, Palghar. Thane and admeasuring 663.86 sq. ft with building and other structures, fixed machinery and plant, fixture

4) Gist of the terms and conditions and extent and operation of the charge.

The company has created a mortgage by deposited of the title deeds relating to above properties due repayment by the company to the bank the balance from time to time

Facility	Limit	Interest
Cash Credit Stock	12.500	14.60%
Cash Credit Book Debts	12.500	14.60%
Export Packing Credit	5.000	10% 180days and 13%
Bills Purchase	5.000	--
Term Loan	5.000	--
LC	35.000	--
Guarantee	2.000	--
Total	77.000	--

5) Name and Address and description of the person entitled to the charge.

Bank of India, Mumbai Corporate Banking Branch, M. G. Road, Fort, Mumbai – 400 023

6) Date and brief description of instrument modifying the charge

Dated 20.02.2004

No instrument equitable mortgage was created by way of deposit of the title deeds in respect of the Company

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Past Modification

The original charge created on 24.08.2001 for Rs. 77.000 Millions was modification on 30.11.2002 for Rs. 79.500 Millions of Equitable Mortgage

Present Modification

The company accorded its consent to the bank to continue to hold and retain the title deeds of the company , Plot of land bearing No. 75 foorming and 433/4 within the Village limits of Mahim in the Taluka Regis. Sub-dist, Palghar. Thane and admeasuring 663.86 sq. ft

village Mahim Regis. Sub-dist, Palghar

Facility	Limit	Interest
Cash Credit Book Debts	30.000	BOI PLR plus 1.50% Presently – 12.25%
Export Packing Credit	30.000	EPC 180 days – 8.25% 180-270 days 11.25% Ennos – 4% PCFC LIBOR PLUS 75 BPS plus market related fuding costst FBP/FBN – 8.25% 90 DAYS – 8.25% 90-180 11.25%
Letter of Credit	90.000	--
Inland Guarantee	2.000	--
Total	122.000	--

Name of the company

KRYFS LAMINATIONS PRIVATE LIMITED

Presented By

1) Date and description of instrument creating the change

Deed of hypothecation of goods dated 16.2.1994

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 3.000 Millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Against stocks of prime/second/defective, secondary CRGO Silicon/ Electrical Steel Sheets/ Cutting/ Strips/ Coils to be imported under DA letter of credit

4) Gist of the terms and conditions and extent and operation of the charge.

D A Foreign letter of credit limit of Rs. 3.000 Millions for which the security details in column no. 3 os hypothecation to the bank

5) Name and Address and description of the person entitled to the charge.

Bombay Mercantile Cooperative Bank, Foreign Exchange Department, 69 P D Mella Road, Carnac Bunder, Mimbai – 400069

6) Date and brief description of instrument modifying the charge

Not Available

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Not Available

Name of the company

KRYFS LAMINATIONS PRIVATE LIMITED

Presented By

Bank of India, Mumbai Corporate Banking Branch, M. G. Road, Fort, Mumbai – 400 023

1) Date and description of instrument creating the change

Dated 14.03.1997

Deed of Hypothecation

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 62.000 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

All tangible movable machineries and plant

All tangible movable properties and assets

All the present and future book debts which are now due and owing or which may at any time

Description of Machinery

Coils Slitting Machine

Brand – Precision

Year – 1997

Power Shearing Machine

Brand – Rolex

Year – 1997

Press Brake

Brand – Weldor

Year – 1997

10 MT EOT Crane & Gantry

Brand – Zeemag

Year – 1997

Weighing Scale

Avery India Limited

Year – 1997

Generator Set

Brand – Parrys

Year – 1997

Transformer

Brand – Parsed Power Controls Limited

Year – 1997

Raw Materials

CRGO/CRNGO silicon electrical steel and other alloy steel and other raw material

Finished Goods

Electrical Lamination goods the company may decide to produces

4) Gist of the terms and conditions and extent and operation of the charge.

Interest – 20.75% & 19.75%

Facility	Limit	Interest
Cash Credit Stock	6.000	19.75%
Cash Credit Book Debts	12.000	19.75%
Term Loan	17.000	20%
Letter of Credit	25.000	--
Inland Guarantee	5.000	19.75%

5) Name and Address and description of the person entitled to the charge.

Bank of India, Mumbai Corporate Banking Branch, M. G. Road, Fort, Mumbai – 400 023

6) Date and brief description of instrument modifying the charge

Dated 30.11.2002

Supplementary deed of hypothecation

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Past Modification

The original charge created on 14.3.97 for Rs. 62.00 Millions was modification on 18.01.1999 for Rs. 66.500 Millions of Equitable Mortgage

Present Modification

The company accorded its consent to the bank to continue to hold and retain the title deeds of the company , Plot of land bearing No. 75 foorming and 433/4 within the Village limits of Mahim in the Taluka Regis. Sub-dist, Palghar. Thane and admeasuring 663.86 sq. ft

village Mahim Regis. Sub-dist, Palghar

Facility	Limit	Margin	Interest
Cash Credit Book Debts	10.000	Book Debts 30%	BOI PLR plus 1.50% Presently – 12.25%
Cash Credit Stock	10.000	RM 25% SIP 30% FG 25%	2.60%
Export Packing Credit	10.000	10%	180 days – 9.5% 180-270 days 12.50%
Inland Guarantee	5.000	30%	--
Non Borrowal
Letter of Credit	10.000	10%	--
Letter of Credit 180 days	45.000	10%
Inland Guarantee	2.000	Regular 20% & Finance 30%	--
Total	79.500		--

Name of the company

KRYFS LAMINATIONS PRIVATE LIMITED

Presented By

1) Date and description of instrument creating the change

Letter of Hypothecation & Agreement for short term

Bride loan dated the 18.12.1995

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 7.500 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

The first charge of the company plants and machinery etc. fixed assets and movable assets to be in future situed at Plot of land bearing No. 75 foorming and 433/4 within the Village limits of Mahim in the Taluka Regis. Sub-dist, Palghar. Thane and admeasuring 663.86 sq. ft with building and other structures, fixed machinery and plant, fixture

4) Gist of the terms and conditions and extent and operation of the charge.

Rs. 7.500 millions paid upon execution of letter of hypothecation & agreement for short term loan dated 18.12.1995

The total amount of Rs. 7.500 millions by the company in 11 months by 9 monthly installment. The first installment shall be on 20.03.1996 and last installment shall be 17.11.1996

The loan to carry interest 22% from 18.12.1995 payable monthly 15 of every month with provision for additional interest 2% in case of default in payment of installment

In considered for the aforesaid loan the company

Created fist charge of the company property particular where are stared in the proceeding favor of the corporation

Goodwill of its business and the amount that may be called upon in respect of the company unmissed or upon any future share capital

5) Name and Address and description of the person entitled to the charge.

Maharashtra State Financial Corporation, New Excelsior Building, 5^th 7^th 8^th and 9^th floor, Amrit Keshav Nayak Marg, Mumbai – 400001

6) Date and brief description of instrument modifying the charge

Not Available

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Not Available

Profiles

Transformer Lamination

The process begins with the inward receipt of raw material. Every coil of CRGO received at the works is checked as per the manufacturer’s test certificate for core loss, weight and dimensions and a unique plant tracking (UPT) number assigned to it. This UPT remains on the material from start to finish and is the basis for complete traceability at every manufacturing stage and indeed till the finished goods reach the customer.

The first stage of the manufacturing process is slitting which is a high precision job. Computer aided planning of raw material ensures maximum utilisation of the material. Slitting is done maintaining the”top-loop” system so that the grains are not “stretched” or strained during the process. The loop before and after the slitting also ensures the parallelleity of the slits and minimum edge camber to prevent roughness on the edges. All the slitting blades are made of fully hardened and ground alloy steel to ensure shapness and durability. Particular is taken to keep the edge burr under control, within the specific tolerances.

As per Website Details:

BACKGROUND

KRYFS LAMINATIONS PVT. LTD. THE FIRST AND ONLY ISO 9002 ACCREDITED TRANSFORMER CORE MANUFACTURE IN INDIA, is a Private Limited Company based in India, established in 1992 with the aim of producing high quality transformer core laminations and round core for supply to the Transformer Industry.


KRYFS has 2 plants located at Palghar ( 80 kms North of Bombay city ) and Kherdi ( 140 kms North of Bombay city ) in Western India.

STACKED TRANSFORMER CORE (Also known as transformer laminations)

KRYFS manufactures the following products :
They manufacture Transformer Core laminations from Cold Rolled Grain Oriented (CRGO) steel in grades M2, M3, M4, M5, M6 and also the Hi-B CRGO grades of ZH, ZDKH, ZDMH, ORSI-H, TCH-O, TCH-1 etc. For more technical details on the various grades of CRGO steel. Click here


These laminations are manufactured for distribution and power transformers from 10 KVA to 200,000 KVA (200 MVA) and can be mitred ( 45° angle ), V - notched, punched with holes as per the customer's design, specification and requirement. These laminations are also deburred ( to remove burrs and give the optimum stacking factor ) and stress relief annealed (to reduce stresses and therefore the watt losses as well as the no load current ).These laminations meet the specified dimensional standards (as per our internal Quality acceptance criterion). They also manufacture longitudnal and horizontal step-lap cores to customer specification.

On customer's request and specification they can also provide fully assembled stacked core,with no load losses tested and appropriately packed and ready for insertion of LV and HV coils. They are the only transformer core manufacturer in India to provide this facility.

Our Internal Standards & Normal Tolerances

ATTRIBUTE	TOLERANCE
Length	(upto 315 mm) +0/-0.4 mm (from 315 mm to 1000 mm) +0/-0.6 mm (from 1000 mm to 2000 mm) +0/-1 mm (from 2000 mm to 4000 mm) +0/-1.6 mm
Width	(upto 150 mm) +0/-0.25 mm (from 150 mm to 500 mm) +0/-0.3 mm (more than 500 mm) +0/-0.5 mm
Angle	+/-5 minutes
Edge Camber	Max. 1.5 mm in 2000 mm length
Burr	25 Microns Max. or 10% of thickness, whichever is lesser
Stacking factor	96% (for M-4 & M-5) 96.5% (for M-6)
Thickness	+/-0.03 mm
Insulation resistivity	Min. 10 Ohm/sq. cm. as per Franklin method

TORROIDAL CORE

Torroidal cores are round or rectangular shaped cores manufactured from CRGO Steel to be used in current and potential transformers (CTs and PTs ). Our Torroidal Cores are manufactured from the very best CRGO steel and are annealed in a pit furnace to 820°C for a full cycle of 14 to 15 hours. The critical guaranteed values of our Torroidal cores are:

GRADE	Guaranteed No load current ( at 1.5 Tesla 50 H2 )
Hi - B grades	0.28 AT / cm
M4	0.32 AT / cm
M5	0.36 AT / cm
M6	0.42 AT / cm

/ cm = Ampere Turns per centimetre.

100% of our cores are tested before dispatch so that our customers get only those cores which are better than the above guaranteed specs. They also paint the cores so that the colour indicate the grade of the core. The colour coding is as follows.

For more information on this product click here>> Torroidal Core

CRGO STRIPS & SLIT COILS

They also produce CRGO strips and coils slit and manufactured to the customers specification and design. These are supplied in all available grades of CRGO steel.

OTHER PRODUCTS

They also manufacture a range of material handling equipment like slings, lashings and harnesses. For more information on our SLINGSET range of slings and lashings, visit us at www.slingset.com

Customer

Their customers are the reason for their existence and their Quality Policy clearly states that total customer satisfaction is their goal.

Their customers comprise of multinational transformer manufacturing companies with turnovers of several billion dollars to small scale units with turnovers of a couple of crores.

We service customers requirements from Jammu & Kashmir in the North to Kerala in the South from Gujrat in the West to to West Bengal and Orissa in the East of India.

We also export their products to the Middle-East and neighbouring countries.

Their customer's are the focus of their business and the quality systems and plans laid out are only for their benefit

Their Vision is to be a globally recognised Major Player in the products manufactured and marketed by us and set the benchmarks for Quality, Service and Reliability, resulting in growth and prosperity for all stakeholders (customers, creditors, employees, shareholders and society).

We have a well documented policy on what each of their Stakeholders can expect from us and what we expect from each Stakeholders in return, which is available to every stakeholders, on request.

Quality Policy
We shall follow the Quality Assurance system and plan set out not only in letter but also in spirit, to ensure that every product manufactured by us meets the customer's need and expectation at a competitive price and builds customer trust and loyalty leading to total customer satisfaction.

Pricing Policy
At KRYFS we have a FAIR and TRANSPARENT pricing policy. We guarantee the most economical prices for the products that we manufacture and supply. We donot believe in competing on the basis of price alone as any supplier can reduce prices by compromising on the grade and quality of the material used.

We take pride in their transparent dealings and always endeavour to share the maximum information with the customer to ensure that they get the most economical prices in the industry, to enhance their competitive edge".

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 :

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	Indian Rupees
US Dollar	1	Rs.45.34
UK Pound	1	Rs.85.68
Euro	1	Rs.58.33

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

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 liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions