MIRA INFORM REPORT

Report Date :

29.11.2007

IDENTIFICATION DETAILS

Name :	LLOYD INSULATIONS ( INDIA ) LIMITED
Registered Office :	Punj House, M-13, Connaught Place, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2006
Date of Incorporation :	06.06.1977
Com. Reg. No.:	558629
CIN No.: [Company Identification No.]	U74210DL1977PLC008629
TAN No.: [Tax Deduction & Collection Account No.]	MUML04371D
PAN No.: [Permanent Account No.]	AAACL0486E
Legal Form :	Public Limited Liability Company
Line of Business :	Manufacturing and Marketing of Ceramic Fibre Products, Rigid Polyurethane Foam Sandwich Panels, Rigid Polyurethane Foam Slaps, Pipe Sections, Pipe Supports and other products and Isothane Products.

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 3160000
Status :	Moderate
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having difficult time at present. The company continues to incur heavy losses. It’s payments are usually correct and as per commitments. The company can be considered small to mediocre business dealings at usual trade terms and conditions in view of huge losses. The company has very satisfactory track.

LOCATIONS

Registered Office :	Punj House, M-13, Connaught Place, New Delhi – 110 001, India
Tel. No.:	91-11-23416111, 23416378, 23323621, 23324599, 23324696, 51517245/ 2643047
Fax No.:	91-11-23724134, 23416255/ 26467259
E-Mail :	lloyd@del2.vsnl.net.in
Website :	http://www.lloydinsulation.com http://www.lloydindia.com
Location:	Commercial
Regional Offices :	CONTRACT / SALES / TECHNICAL AND MARKETING DIVISION v 386, Veer Savarkar Marg, Prabhadevi, Mumbai - 400 025, Maharashtra Tel. 91-22-24304367/4876/2317/24301722/0007 Fax. 91-22-24376858 / 3557 E-Mail. lloyd@giasbm01.vsnl.net.in CONTRACT DIVISION v 6, Middleton Street, Kolkata - 700 071, West Bengal Tel. 91-33-22401606/22475479 Fax. 91-33-22402629 E Mail : lloyd@cal2.vsnl.net.in CONTRACT / SALES / TECHNICAL AND MARKETING DIVISION v 5-A, Haddows Lane, II Floor, Off Haddows Road, Nungambakkam, Chennai - 600 006, Tamilnadu Tel. 91-44-28273753/5506/28267964/7953/28278418/9724 Fax 91-44-28279728 E Mail : lloyds@md3.vsnl.net.in PRODUCTS / CONTRACTS / AUXILIARIES / TECHNICAL AND MARKETING DIVISION v Post Box No. 4321, Punj Sons Premises, 2, Kalkaji Industrial Area, New Delhi - 110 019 Tel. 91-11-26449391 / 7254 Fax. 91-11-26478601 / 26467259 E Mail : lloyd@del2.vsnl.net.in SALES / TECHNICAL & MARKETING DIVISION v 55-B, Mirza Ghalib Street (6^th Floor), Kolkata – 700 016, West Bengal Tel No. 91-33-22475479 / 22401606 Fax No. 91-33-22402629 v Plot No. 102,103, MPAKVN Industrial Area, Sector III, Pithampur, District Dhar – 454 774, Madhya Pradesh Tel No. 91-7292-256236 / 509886 Fax No. 91-7292-256111 E Mail : lloydpthgen@mantrafreenet.com
Overseas Associates :	v Ineko UK Limited 13, Albion St., Hyde Park, London W22.AS, UK Tel 44-171-2628654 / 4022212 Fax 44-171-7244340 E Mail : inecoeng@aol.com v Ineco Limited P. O. Box 3278, Abu Dhabi, UAE Tel 97-12-325946 / 313315 Fax 97-12-315544 E Mail : ineco@emirates.net.ae v Lloyd Insulations Qatar P. O. Box 9201, Doha, Qatar Tel 00-974-358212 / 311019 E Mail : lins@qatar.net.qa
Plants :	v Plot No. 103, MPAKVN Industrial Area, Sector III, Pithampur, District Dhar – 454 774, Madhya Pradesh v Jamshedpur, Bihar v Bhilai, Madhya Pradesh
Branches :	Located at: - v Bangalore, Karnataka v Baroda, Gujarat v Bharuch, Gujarat v Bhopal, Madhya Pradesh v Chandigarh v Kochi, Kerala v Haridwar, Uttar Pradesh v Hyderabad, Andhra Pradesh v Indore, Madhya Pradesh v Kanpur, Uttar Pradesh v Kota, Rajasthan v Mangalore, Karnataka v Pune, Maharashtra v Rourkela, Orissa v Surat, Gujarat v Visakhapatnam, Andhra Pradesh

DIRECTORS

Name :	Mr. Nilender P. Punj
Designation :	Chairman and Managing Director
Date of Birth/Age :	2^nd April 1939
Date of Appointment :	11^th December, 1986
Name :	Mr. Chander Prakash Khanna
Designation :	Joint Managing Director
Date of Birth/Age :	18^th March 1931
Date of Appointment :	10^th June 1977
Name :	Mr. Prem P. Munjal
Designation :	Wholetime Director
Date of Birth/Age :	27^th August, 1932
Date of Appointment :	10^th June 1977
Name :	Mr. M. Srinivas
Designation :	Whole time Director
Date of Birth/Age :	19^th June 1940
Date of Appointment :	30^th June 1993
Name :	Mr. Mohit Khanna
Designation :	Wholetime Director
Date of Birth/Age :	23^rd August, 1960
Date of Appointment :	30^th June 1993
Name :	Mr. Vineet P. Munjal
Designation :	Wholetime Director
Date of Birth/Age :	30^th September, 1961
Date of Appointment :	30^th June 1993
Name :	Mrs. Gita Punj
Designation :	Wholetime Director
Date of Birth/Age :	15^th April 1948
Date of Appointment :	31th July 1990
Name :	Mrs. Gauri Talwar
Designation :	Director
Date of Birth/Age :	25^th February, 1972
Date of Appointment :	11^th December, 1991
Name :	Mr. V. Mohan
Designation :	Director
Date of Birth/Age :	6^th May 1951
Date of Appointment :	7^th August, 1991
Name :	Mr. Gautam Punj
Designation :	Director
Date of Birth/Age :	8^th January, 1974
Date of Appointment :	19^th April 2003
Name :	Mrs. Gayatri Punj
Designation :	Director
Date of Birth/Age :	6^th June 1978
Date of Appointment :	19^th April 2003
Name :	Mr. Brij Kumar Mehra
Designation :	Company Secretary
Date of Birth/Age :	4^th July 1945
Date of Appointment :	1^st April 1999

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	Percentage of Holding
Bodies Corporate	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Marketing of Ceramic Fibre Products, Rigid Polyurethane Foam Sandwich Panels, Rigid Polyurethane Foam Slaps, Pipe Sections, Pipe Supports and other products and Isothane Products.
Products :	· Thermal Insulation · Lloyd Panel System · Lloyd Shelter · Roofing and Wall Cladding · Anti Corrosive Materials · Water Proofing · Lloyd Enclosures · Passive fire Protective System · Mechanical · Technical Surveys · Flase Ceiling and False Flooring
Imports from :	Europe and Far East
Terms :
Purchasing :	L/C, D/A and D/P

PRODUCTION STATUS

Particulars	Unit	Licensed Capacity	Installed Capacity
Ceramic Fibre Products	MT	2,500	2,500
Rigid Polyurethane Foam Sandwich Panels	M^2	374,500	374,500
Rigid Polyurethane Foam Slabs, Pipe Sections, Pipe Supports & other Products	M^3	12,000	12,000
Prefabricated buildings, doors of iron & steel	Nos	4,000	4,000
Shape & section of steel sheetings	M^2	2000,000	2000,000
Insulated beams, PVC strip curtain	RMT	5,300	5,300
Insulated Panels (Rockwool Composite)	M^2	150,000	150,000
Isothane Products	MT	1,500	1,500

GENERAL INFORMATION

Customers :	v ABB Alstom v Ansaldo SPA v Babcock v Bechtel v BF Goodrich v Bharat Heavy Electronics Limited v BHPV v Chemico v Chemtech v Chemtex v Daelim v DESEIN v Deustche Babcock v Eicher India Limited v EIL v FL Schmidt v Flour Daniel v Halder Topsoe v Holtech v Humphrey’s & Glasgow v Hyundai v ICI v IOCL v Jacobs H & G v John Brown v KTI v Kvaerner Corporation v Kvaerner Powergas v L’Air Liquide v Larsen & Toubro India Limited v Linde v Lurgi v MECON v Mitsubishi Heavy Industries v Mitsui v MW Kellogg v National Thermal Power Corporation v Oil & Natural Gas Corporation v PDIL v Praxair v Samsung v Sargent & Lundy v Siemens v Snam Progetti v TCE v Toyo Engineering v Udhe v UHDE India Limited v UOP v International Consulting Engineers / Process Licensors
No. of Employees :	2000
Bankers :	v Punjab & Sind Bank Worli, Mumbai - 400 018, Maharashtra, India and Nehru Place Branch, New Delhi – 110 019 v IDBI Bank Limited IFCI Tower, 12^th Floor, 61, Nehru Place, New Delhi – 110 019, India v ICICI Bank Limited v BNP Paribas v HDFC Bank v ABN-Amro

Banking Relations :
	Satisfactory
Auditors :
	v Suresh C. Mathur & Company Chartered Accountants Tel. No.:91-11-51501620, 23346733 E-Mail : scmca@del3.vsnl.net.in BRANCH AUDITORS v Suresh C. Mathur & Company Chartered Accountants v Mahesh C. Mathur & Company Chartered Accountants v K L Chatrath & Company Chartered Accountants v P Jayaraman & Company Chartered Accountants
Associates/Subsidiaries :
	v Rockwell Industries, Bhilai, Madhya Pradesh v Punjstar Industries Private Limited v Punj Sons Private Limited v Rockwell India Limited v Lloyd Tar Products v Supercera Fibres v Thermon Heat Tracers Limited v Interarch Buildings Products v Chamion Industries Limited v Supertech (India) Private Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs. 100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs. 100/- each	Rs. 30.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2006	31.03.2005	31.03.2004
SHAREHOLDERS FUNDS
1] Share Capital		30.000	30.000	30.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		760.254	641.827	527.969
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		790.254	671.827	557.969
LOAN FUNDS
1] Secured Loans		33.057	44.459	30.098
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		33.057	44.459	30.098
DEFERRED TAX LIABILITIES		8.321	11.027	10.767
TOTAL		831.632	727.313	598.767
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		110.759	113.432	125.020
Capital work-in-progress		2.449	1.404	0.386
INVESTMENT		48.573	3.274	1.381
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	260.518	195.527	135.059
	Sundry Debtors	1143.423	910.855	581.760
	Cash & Bank Balances	271.396	202.523	153.077
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	255.952	206.976	184.389
Total Current Assets		1931.289	1515.881	1054.285
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	1227.231	906.678	582.305
	Provisions	34.207	0.000	0.000
Total Current Liabilities		1261.438	906.678	582.305
Net Current Assets		669.851	609.203	471.980
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		831.632	727.313	598.767

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2006	31.03.2005	31.03.2004
Sales Turnover		0.000	0.000	992.79
Other Income		28.825	28.959	419.010
Total Income		28.825	28.959	1411.800
Profit/(Loss) Before Tax		(394.759)	(327.236)	112.610
Provision for Taxation		86.327	65.260	39.098
Profit/(Loss) After Tax		(481.086)	(392.496)	73.512
Expenditures :
	Salaries, Wages, Bonus, etc.	164.481	142.067	126.325
	Payment to Auditors	0.632	0.523	0.521
	Insurance Expenses	2.836	2.328	1.844
	Depreciation & Amortization	19.197	20.867	21.753
	Other Expenditure	236.438	190.410	155.956
Total Expenditure		423.584	356.195	306.399

KEY RATIOS

PARTICULARS		31.03.2006	31.03.2005	31.03.2004
PAT / Total Income	(%)	(1668.98)	(1355.10)	65.28
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	11.34
Return on Total Assets (PBT/Total Assets}	(%)	(19.33)	(20.08)	9.54
Return on Investment (ROI) (PBT/Networth)		0.49	0.48	0.20
Debt Equity Ratio (Total Liability/Networth)		1.63	1.41	1.09
Current Ratio (Current Asset/Current Liability)		1.53	1.67	1.81

LOCAL AGENCY FURTHER INFORMATION

HISTORY

Subject was originally incorporated in the year 1956 as a Partnership Concern at New Delhi in India. On 6^th June, 1977, it was converted into a Private Limited Liability Company under the name and style of Lloyd Insulations (India) Private Limited having Company Registration Number 8629. Subsequently, it was converted into a Public Limited Liability Company.

Subject was established in 1956 as a contracting outfit to offer a single source multi discipline package covering a wide variety of specialised services, servicing a broad spectrum of industries. They had built reputation on solid professionalism, track record are a single source for supply and execution of jobs in all fields of operations. They are pioneers in the Indian market involved with continuous development of advanced insulation products and systems to set the standard in the industry.

BUSINESS

Subject is engaged in manufacturing and marketing of Ceramic Fibre Products, Rigid Polyurethane Foam Sandwich Panels, Rigid Polyurethane Foam Slaps, Pipe Sections, Pipe Supports and other products and Isothane Products. It is also engaged in designing, fabricating, supplying and installing advanced insulation and allied systems.

The company offers the following services to current international standards:

v Thermal insulation of plant, equipment and piping from Cryogenic to Furnace temperature in large projects. Acoustical engineering and noise reduction in industrial and commercial applications.

v Specialty lining and refractory applications vibrocast, abrasion resistant, guniting and ceramic fiber lining systems.

v Waterproofing of buildings including spray applied polyurethane thermal barrier with elastomeric polymer coatings / polymer modified systems.

v Prefabricated sandwich panels featuring rigid polyurethane and rockwool insulation cores.

v Highest quality corrosion protection of buried pipelines both cross country and inplant.

v Decorative and functional suspended ceiling / cavity flooring systems.

v Industrial roofing / exterior cladding system with pre-engineered building

v Passive and active fire protection of buildings and industrial structures.

v Turnkey packages featuring mechanical, electrical, civil and instrumentation work.

v Electrical heat tracing of all designs.

v Stress relieving of fabricated pressure vessels.

v Insulated enclosures for telecom industry and for armed forces / railway

v Spray applied insulation – for building protection

v Turbine cleading – both acoustical and general

v Technical surveys and energy audit services.

Generic Names of Principal Products/Services of the company are: -

v Polyurethane Products

v Ceramic Fibre

v Rockwool Products

Subject is pioneered in the Indian market involved with continuous development of advanced insulation products and systems. It is pioneered in manufacturing of mineral wool, ceramic fibre products in all forms, cryogenic grade polyurethane foam insulation systems, sandwich panels in cold storage and prefab buildings, membrane type waterproofing system etc. It imports raw materials, components and spare parts and capital goods from Europe and Far East against L/C, D/A and D/P terms.

Its’ major customers include international consulting engineers / process licensors.

Some of the industries served by the company are:

v Oil refineries and petrochemicals

v Power generation

v Fertiliser

v Cement

v Pharmaceuticals

v Onshore Oil & Gas

v Building & civil engineering

v Chemical processing

v Metallurgical industries

v Ceramics

v Electronics manufacturing

v Marine engineering

v Nuclear

v Food processing

v Sugar

v Transportation (Road tankers and Railway coaches)

v Military / Armed Forces

v Electronic & Telecommunication Industry

The company's fixed assets of important value include land, building, factory, furniture and fixtures, plant & machinery, office equipments, vehicles and electronics.

Form 8:

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the charge to be modified	80002613
Corporate identity number of the company	U74210DL1977PLC008629
Name of the company	LLOYD INSULATIONS ( INDIA ) LIMITED
Address of the registered office or of the principal place of business in India of the company	Punj House, M-13, Connaught Place, New Delhi – 110 001, India
Type of charge	Immovable property, Book Debts, Movable Property
Particular of charge holder	IDBI Limited IFCI Tower, 12^th Floor, 61, Nehru Place, New Delhi – 110 019, India
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement of hypothecation of goods and assets for increase in the overall limit and declaration and undertaking in the matter of mortgage by deposit of title deeds.
Date of instrument Creating the charge	10.08.2007
Amount secured by the charge	Rs. 400.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanctioned terms Terms of repayment As per sanctioned terms Margin As per sanctioned terms Extent operation of the charge 100%
Short particulars of the property charged	First pari passu charge on movable including stocks of raw materials, semi finished goods, consumable stores, book debts and entire movable including plant and machinery, tools, and accessories both present and future and first pari passu charge on all that pieces and parcel of land at plot no. 102, Industrial area No.III, Pithampur, Dhar, MP, adm 31902 sq. mtrs and Plot No. 103, Industrial area No.III, Pithampur, Dhar, MP, adm 29544 sq. mtrs. Together all building and structures.
Particulars of the present modification	The working capital facility stands enhanced from Rs. 300.000 Millions to Rs. 400.000 Millions. Other terms and conditions remaining same.

Name of the company

LLOYD INSULATIONS ( INDIA ) LIMITED

Presented By

Company and Punjab and Sind Bank

1) Date and description of instrument creating the change

Letter ceding pasri passu charge dated 17.02.2003 and registered on 12.03.2003 modified on 06.05.2004 registered on 01.06.2004

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

Rs. 500.000 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

Companies stock located at various locations and book debts. Other current assets situated at PUP Plant, Supercera Plant, LPL plant, Dist. Dhar (MP) – 480 001, and regional offices at new Delhi, Mumbai, Calcutta and Chennai or elsewhere stored.

All Book Debts of the company

Polyurethane plant of the company ( land and building, Plant and machinery) Located at Pithampur, Industrial Area, Dist. Dhar, MP

Land and Building , plant and machinery of ceramic fibre unit of the company at Pithampur

Building and plant and machinery of water proofing unit at Pithampur.

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

The above is to secure fund based limit of Rs. 40.000 Millions and non fund limit is Rs. 460.000 Millions on pari passu basis with IDBI Bank Limited without any preference or priority of one over the other.

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

Punjab and Sind Bank, Nehru Place Branch, New Delhi – 110 019

6) Date and brief description of instrument modifying the charge

21.12.2004 Agreement for hypothecation of debts and assets

21.12.2004 Agreement for hypothecation of goods to secure demand cash credit

21.12.2004 Letter of hypothecation of inland/ foreign bills purchased advances against bills for collection

21.12.2004 Letter of continuity

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.

Modification in facility

Rs. in Millions

Facility	Existing	Revised
Bank Guarantee ( Performance/ Financial)	360.000	460.000
ILC/ FLC ( DA-180 days)	100.000	200.000
Bill Disc/ Cheque Purchase	40.000	50.000
Total	500.000	710.000

Name of the company	LLOYD INSULATIONS ( INDIA ) LIMITED
Presented By	Company and Punjab and Sind Bank
1) Date and description of instrument creating the change	Letter ceding pasri passu charge dated 17.02.2003 and registered on 12.03.2003 modified on 06.05.2004 registered on 01.06.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 500.000 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	Companies stock located at various locations and book debts. Other current assets situated at PUP Plant, Supercera Plant, LPL plant, Dist. Dhar (MP) – 480 001, and regional offices at new Delhi, Mumbai, Calcutta and Chennai or elsewhere stored. All Book Debts of the company Polyurethane plant of the company ( land and building, Plant and machinery) Located at Pithampur, Industrial Area, Dist. Dhar, MP Land and Building , plant and machinery of ceramic fibre unit of the company at Pithampur Building and plant and machinery of water proofing unit at Pithampur.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure fund based limit of Rs. 40.000 Millions and non fund limit is Rs. 460.000 Millions on pari passu basis with IDBI Bank Limited without any preference or priority of one over the other.
5) Name and Address and description of the person entitled to the charge.	Punjab and Sind Bank, Nehru Place Branch, New Delhi – 110 019
6) Date and brief description of instrument modifying the charge	06.05.2004 Agreement for hypothecation of debts and assets
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.	In addition to above all other fixed assets of the company have also been charged.ss

WEBSITE DETAILS ATTACHED:

Lloyd Insulations was established in 1956 as a contracting outfit to offer a single source multi-discipline package covering a wide variety of specialised services, serving a broad spectrum of industries. They have built their reputation on solid professionalism, track record and are a single source for supply and execution of jobs in all our fields of operation. They are pioneers in the Indian market involved with continuous development of advanced insulation Products and systems to set the standard in the industry.

PROFILE

Subject was established in 1956 as a contracting outfit to offer a single source multi-discipline package covering a wide variety of specialised services, serving a broad spectrum of industries. They have built our reputation on solid professionalism, track record and are a single source for supply and execution of jobs in all our fields of operation. They are pioneers in the Indian market involved with continuous development of advanced insulation Products and systems to set the standard in the industry.

This has enabled them to keep in step with upgraded products and engineering techniques to match contemporary global standards. They have network of Regional and Zonal offices across India with manufacturing units located in Central India for optimum logistics, easier project management essential for customer satisfaction and maintain high business standards.  They pioneered manufacturing of mineral wool forty years ago and then on to ceramic fiber products in all forms, cryogenic grade Polyurethane foam insulation systems, Sandwich panels for cold storage and prefab buildings, membrane type waterproofing system etc. As a leading Indian company in the global market, they have kept abreast with the latest insulation trends worldwide.

With the competitive edge engined by employees with over 40 years of experience in the respective fields, Lloyd Insulations keeps all important issues at the core while extending quality products and services to its clients:

v High priority to safety, innovation, improvement and cost consciousness

v Declared commitment to environmental issues

v First insulation company in India and one of the very few construction companies in South East Asia to be ISO accredited

v Support extended to various Government Trade / Industry associations on energy conservation by carrying out Energy Audits at running plants

v Capabilities to design a system, erect with in house and outside materials right up to commissioning with Guaranteed Performance

They have a sound financial base with a turnover of more than 2 billions in Indian currency and  are capable to handle projects of any size with speedy mobilization.

Products

Subject has an exhaustive product list covering every insulation and allied requirements of the customers from cryogenic to furnace temperatures. It has a well developed wide selection of sources for all thermal insulating materials, while being manufacturer of bulk of materials inhouse.

With an unflinching commitment to quality in its products and services, Lloyd has become a name to recon with - nationally and internationally.

v Thermal Insulation

v Lloyd Panel System

v Lloyd Shelter

v Roofing & Wall Cladding

v Anti Corrosive materials

v Water Proofing

v Lloyd Enclosures

v Passive Fire Protective System

v Mechanical

v Technical Surveys

v False Ceiling & False Flooring

HAPPENINGS:

Completed Specialised Refractory (Vibrocast, Anti-Abrastive and  Stainless steel Fibre reinforced gumiting lining) work for the largest FCC Reactor/Regenerator (R&R) package in the world at Reliance Refinery, Jamnagar.

- Complete single order for 70,000 m² of metallic roofing at Mahindra Ford factory,Manimalai Nagar.irst 

- First and only insulation company in India to be accredited with ISO-9002   certification. 

- Serving the nation by building pre-insulated shelters at high altitudes of Leh & other Himalayan sites for the defence sector.

- Erected the first 6000 tons capacity modern potato cold storage of height 18 mtrs. at Indore with pre-fabricated polyurethane sandwich panels.

- Completed insulation of 2 x 145 MW gas turbine of National Thermal Power Corp. (NTPC), Combined Cycle

Power Plant at Faridabad (Near-Delhi).

- Completed insulation of 6 mtpa refinery at Panipat. Completed insulation of 1350 tpd ammonia, 2250 tpd urea plant of Chambal Fertilizers at Gadepan (Near Kota).

- Completed overdeck insulation and waterproofing of Mints at Salboni & Mysore for Reserve Bank Of India Ltd. -area involving 70,000 M².

- Designing, engineering & installation of the fire fighting facilities involving - high capacity fire water pumps, long range specialized water / foam monitors, jumbo water curtains, gas detection systems, remote control systems & cement linings for LPG Jetty at Vizag outer harbour.

- Completed thermal insulation & fire proofing of 9 nos. ethylene horton spheres at GAIL plant of approximate area 900 M² each.

- Completed insulated metallic wall cladding (5000M²) work at NTPC combined cycle project at Faridabad (Near Delhi). 

- Completed insulation for cryogenic temperatures at (-)105 deg.C for ethylene tank / cross country piping installations at IPCL Dahej and Reliance Industries Ltd., Hazira. 

- Completed roof insulation & water proofing works at ITC Sunrise project, Banglore involving 69000 M² area.
- Completed insulation of butane line 4.5 kms. from Haldia Port to Haldia Petrochemicals with polturethane foam insulation.
- Laid cross country Naptha pipeline of 21 kms. from IOCL Ernakulam terminal to Fact Udyogmandal at Tamilnadu passing below railway line & through marshy land.

- Recently bagged the single largest order in the country for supplying and installing pre-fabricated insulated enclosures (1381 nos.) from Tata Lucent Technologies Ltd. for developing MTNL's telecom network all over the country.

CLIENT LIST:

Subject has worked at all major projects meeting the requirements of almost all the best known international consulting engineers / process licensors such as MW  Kellogg, Lurgi, Fluor Daniel, ABB Lummus, Bechtel, Du Pont, Stone and Webster, Toyo Engineering, Mitsui, Mitsubishi Heavy Industries, Kvaerner Corpn., Chemtech, Daelim, Haldar Topsoe, Snam Progetti, Linde, L'Air Liquide, KTI, BF Goodrich, UOP, ICI, UHDE, Ansaldo SPA, FL Schmidt, Holtech, Humphrey's & Glasgow, Siemens, ABB Alstom, Babcock including Indian engineering consultants and public sector undertakings like  EIL, NTPC, BHEL, ONGC, IOCL, MECON, PDIL, DESEIN, TCE, L&T etc.

ACCOMPLISHMENT

Their experts serve on the various committees of Bureau of Indian Standards (BIS) and International Standard Organisation (ISO).

- They are the first and only thermal insulation company among the very few contracting organisations in India to be accredited with ISO - 9002 certification.

- They are the initiators of Indian standards on thermal insulation and its applications.

- They serve as visiting faculty at various seminars, institutions like CII, PHDCCI, CBRI, All India Radio, Central Public Works Department, Engineers India Ltd., National Thermal Power Corporation, National Association of Corrosion Engineers etc.

Completed thermal insulation of all DHDS units at nine refineries spread all over the country simultaneously (involving total area of more than 7,20,000 M²).

- Completed insulation works at various petrochemical units of Reliance, Indian Petrochemicals, Gas Authority Of India at Hazira, Dahej, Gandhar, Guna and Patna.

- Supplied and erected a laboratory and a clinic building with insulated panels at Antarctica for the Indian Mission.
- Erected first modern potato cold storage of height 18 mts. at Indore with prefabricated polyurethane panels.

Completed thermal insulation works of super thermal power stations ; each of 500 MW units for the National Thermal Power Corporation (NTPC) - Vindhyachal, Rihand and Farakka.

- Executed thermal insulation works for cryogenic temperatures of ethylene / propylene tanks and cross country pipeline systems.

- Designed and implemented structural fire proofing works of ethylene / propylene spheres including allied works conforming to UL - standards.

- Designed, supplied and installed passive fire protection systems for electrical and instrumentation cables in more than 250 power generating units and core industries.

- Executed roof insulation and water proofing jobs for thousands of SQM areas on commercial and industrial buildings with single largest order involving 69000 M2.

- Completed thermal insulation works for over 50 cement plants each of capacity one million tonnes per annum.
- Completed metallic wall cladding works at 8 nos. power plants all over the country - involving total area of 80,000 M2.

- Pioneers in prefabricated buildings in India.

- Designed, supplied and handled pipe laying, heat tracing and thermal insulation work of cross country fuel oil pipe line.

- Executed thermal insulation works at over 20 giant fertilizer plants.

- Revolutionised the telecom industry by introducing pre-fabricated insulated roof top enclosures for building its network.

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. 39.77
UK Pound	1	Rs.82.45
Euro	1	Rs.58.94

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		40

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 EXPLANATIONS

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.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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