MIRA INFORM REPORT

Report Date :

03.12.2008

IDENTIFICATION DETAILS

Name :	SHREEJI WOODCRAFT PRIVATE LIMITED
Registered Office :	402, Akruti Orion, Shradhanand Road, Vile Parle (East). Mumbai – 400 057, Maharashtra
Country :	India
Financials (as on) :	31.03.2008
Date of Incorporation :	22.10.2007
Com. Reg. No.:	11-175260
CIN No.: [Company Identification No.]	U36102MH2007PTC175260
TAN No.: [Tax Deduction & Collection Account No.]	MUMS57520B
PAN No.: [Permanent Account No.]	AALC53011M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufactures of Superior Quality Wood based Products and Sports Items.

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

Status :	New Company
Payment Behaviour :	No Complaints
Litigation :	Clear
Comments :	Subject is a new company promoted by small sized Shreeji Group. Directors are reported as experienced, respectable and having satisfactory means. Trade relations are fair. No complaints have been from market sources. It would be advisable to take adequate securities while dealing with the subject.

LOCATIONS

Registered Office :	402, Akruti Orion, Shradhanand Road, Vile Parle (East). Mumbai – 400 057, Maharashtra, India
Tel. No.:	91-22-26121431 / 26121432
E-Mail :	shreejitimbers@vsnl.net
Website :	http://www.shreejiwoodcraft.com
Location :	Owned
Corporate Office :	K/2, National Mill Compound, Near Petrol Pump, Dahisar (East), Mumbai – 400 068, Maharashtra, India
Tel. No.:	91-22-28489066 / 28488430 / 28489077
Mobile No.:	91-9322588306
Fax No.:	91-22-28488465
E-Mail :	sales@shreejiwoodcraft.com accounts@shreejiwoodcraft.com
Location :	Owned
Factory :	S No. 215/2, Velegaon Village, Silvassa, UT. 396230, India
Location :	Owned

DIRECTORS

Name :	Mr. Vipul Sharad Parekh
Designation :	Director
Address :	C-209, Parichay Building, Vidya Mandir Road, Dahisar (East), Mumbai – 400 068, Maharashtra, India
Date of Birth/Age :	27.04.1971
Qualification :	B.Com
Experience :	15 Years
Date of Appointment :	22.10.2007
E-Mail :	sales@shreejiwoodcraft.com
PAN No.:	AABPP0090Q
Name :	Mr. Sharadkumar Ratilal Parekh
Designation :	Director
Address :	C-209, Parichay Co-Operative Housing Society Limited, Vidya Mandir Road, Dahisar (East), Mumbai – 400 068, Maharashtra, India
Date of Birth/Age :	20.01.1942
Qualification :	S.S.C.
Experience :	35 Years
Date of Appointment :	22.10.2007
PAN No.:	AHHPP4517B
Name :	Mr. Nilesh Sharadkumar Parekh
Designation :	Director
Address :	C-209, Parichay Building, Vidya Mandir Road, Dahisar (East), Mumbai – 400 068, Maharashtra, India
Date of Birth/Age :	02.04.1969
Qualification :	B.Com
Experience :	15 Years
Date of Appointment :	22.10.2007
PAN No.:	AGHPP5640G
Name :	Mr. Shashikant Mohanlal Mer
Designation :	Director
Address :	Flat No.2, Manglam Co-Operative Housing Society Limited, Daulta Nagar, Borivali (East), Mumbai – 400 066, Maharashtra, India
Date of Birth/Age :	05.08.1955
Qualification :	B.A.
Experience :	25 Years
Date of Appointment :	22.10.2007
PAN No.:	AABPM1488M
Name :	Mr. Chirag Sharadkumar Parekh
Designation :	Director
Address :	C-209, Parichay Building, Misquita Nagar, Shivaji Road, Dahisar (East), Mumbai – 400 068, Maharashtra, India
Date of Birth/Age :	04.07.1972
Qualification :	B.Com
Experience :	12 Years
Date of Appointment :	22.10.2007
PAN No.:	AAAPP8224F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(As on 30.06.2008)

Names of Shareholders	No. of Shares
Sharadkumar Ratilal Parekh	2250
Vipul Sharadkumar Parekh	2250
Chirag Sharadkumar Parekh	2250
Nilesh Sharadkumar Parekh	2250
Shashikant Mohanlal Mer	1000
Total	10000

(As on 30.09.2008) 

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufactures of Superior Quality Wood based Products and Sports Items.

Products :

Product Description	ITC Code
Wood Based Items and Wooden Flush Door	51247
Wooden Door Frame (CAD 0.060 million Pcs Per Annum)	51246
Wooden Flooring and Wooden Flush Door (0.010 million Sq. fts. and 0.010 million Pcs per annum)	51909
Other Articles of Wood (0.050 million pcs per annum)	51299

Brand Names :

Shreeji

GENERAL INFORMATION

Customers :

Name	Project	Works Done
Bhoomi Realtors (EBR Developers)	Bhoomi Park Malad (West)	Modular Kitchen
Bhoomi Realtors (EBR Developers)	Rock Avenue Kandivali (West)	Modular Kitchen
Nilesh Town	Kharghar	Modular Kitchen
Satyam Concast Private Limited	Nerul	Modular Kitchen
Hiranandani Proprietor Private Limited	Emerral	Door Frame
Golden Swan City Club	Vile Parle	Squash Court
Tata Housing Development Limited	Glan Dale – Thane	Door Frame
Chembur Gymkhana	Club House	Badminton Court
Raymond Limited	P.O. Jakegram – Thane	Squash Court
Pawar Public Charitable School	Bhandup School	Parquet Flooring
Oberoi Garden C.H.S.	Kandivali (East)	Badminton Court
Nirman Life Style Limited	City of Joy Mulund (West)	Doors and Door Frame
Everest Developers	Everest World Thane (West)	Door Frame
Ekta Bhoomi Group	Rock Avenue Charkop	Door Frame
Evershine Builders Private Limited	Evershine Crown Andheri (East)	Door Frame
Reliance Industries Limited	Beverly Park Koperkhairane	Door Frame
Kukreja Construction	Chembur	Door Frames
Swan Mill Limited	Ashok Garden Shiveri	Door Frames
IVRCL Infrastructure and Projects Limited	Sea Wood Estate, Navi Mumbai	Doors and Door Frames

No. of Employees :

172 (In Office 4 and In Factory 168)

Bankers :

Corporation Bank, Anand Nagar, Dahisar (East)

Facilities :

Unsecured Loans	(As on 31.03.2008) Rs. In millions
From Directors	4.940
Total	4.940

Banking Relations :	-
Auditors :
Name :	N K Sheth and Company Chartered Accountants
Office Address :	4, Mulji Mistry Building, No. B, 64-B, Tejpal Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India
Tel. No.:	91-22-26166512 / 26115777
Tele Fax No.:	91-22-26166447
E-Mail :	nksheth@vsnl.com
Residence Address :	8, Narsinhaprasad Building, Malaviya Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India
Tel. No.:	91-22-26141833
Sister Concern :	· Krishna Wood Craft Address : K-2, National Mill Compound, S V Road, Dahisar (East), Mumbai – 400 068, Maharashtra, India Line of Business : Door Frame and Wood Articles Bankers : Corporation Bank · Zyrex Enterprises Address : K-2, National Mill Compound, S V Road, Dahisar (East), Mumbai – 400 068, Maharashtra, India Line of Business : Flooring / Squash / Doors / Doorframe Bankers : Corporation Bank · Shreeji Doors and Plywood Industries Address : Gurukul Building, J S Road, Dahisar (West), Mumbai – 400 068, Maharashtra, India Line of Business : Doors and Door Frame Bankers : Bank of Baroda · Siddharth Industries Address : Gurukul Building, J S Road, Dahisar (West), Mumbai – 400 068, Maharashtra, India Line of Business : F. R. D. Doors Bankers : Bank of Baroda · Shree Wood Industries Address : Flat No. 02, Mangalam Co-Operative Housing Society Limited, Jain Mandir Road, Borivali (East), Mumbai – 400 066, Maharashtra, India Line of Business : Door Frame

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	RS.10/- each	Rs.0.100 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	RS.10/- each	Rs.0.100 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.100
2] Share Application Money		0.100
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.200
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		4.940
TOTAL BORROWING		4.940
DEFERRED TAX LIABILITIES		0.000
TOTAL		5.140
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.574
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.452
	Other Current Assets	0.000
	Loans & Advances	0.110
Total Current Assets		0.562
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.010
	Provisions	0.010
Total Current Liabilities		0.020
Net Current Assets		0.542
MISCELLANEOUS EXPENSES		0.024
TOTAL		5.140

KEY RATIOS

PARTICULARS	31.03.2008
Debt Equity Ratio (Total Liability/Networth)	24.80
Current Ratio (Current Asset/Current Liability)	28.10

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL RESULTS

The company was incorporated on 22.10.2007. The company has not commenced commercial operations during the period under consideration.

FIXED ASSETS

· Freehold Land

PERSONAL ASSETS OF THE DIRECTORS

Name	Description of the Assets owned by them	Amount (Rs. In millions)
Nilesh S Parekh	Residence Flat and Shares	3.157
Chirag S Parekh	Residence Flat and Shares	3.123
Vipul S Parekh	Residence Flat and Shares	2.251
Shashikant M Mer	Residence Flat and Shares	0.636
Sharad R Parekh	Residence Flat and Shares	2.604

DETAILS OF ITEM / ITEMS TO BE MANUFACTURED

Item of Manufacture	Capacity in case of Manufacture
Wooden Door Frame	0.060 million PCS Per Annum
Wooden Flooring	0.010 million Sq. Fts. Per Annum
Wooden (Flush Door)	0.010 million PCS Per Annum
Other Articles of Wood	0.050 million PCS Per Annum

The New Construction permission for Industrial Building in respect of land bearing Survey No. 215/2 area admeasuring 24140 Sq. mtr. Situated at Village : Velugam in favor of M/s. Shreeji Woodcraft Private Limited is hereby granted as specified below and with the conditions specified there further.

Built up Area	Existing area in Sq. mtr.	Proposed area in Sq. mtrs.	Total Area on Sq. mtrs.
Ground Floor	Nil	9628.27	9628.27
First Floor	Nil	657.59	657.59
Second Floor	Nil	Nil	Nil
Total	Nil	10285.86	10285.86

GROUPINGS AS ON 31.03.2008

(Rs. In Millions)

Loan from Directors
Chirag S Parekh		0.772
Nilesh S Parekh		1.272
Sharad Parekh		1.403
Shashikant Mer		0.590
Vipul Parekh		0.903
4.940
Capital Work in Progress
Purchase of Land at Silvassa
Agreement dated 19.11.2007	4.345
Stamp duty on above	0.044
Registration	0.011	4.440
Deed of Right to use Land
Agreement dated 19.11.2007	0.150
Stamp duty on above	0.002
Registration	0.000	0.152
Advertisement – Public Notice		0.008
Miscellaneous		0.000
		4.600
Loans and Advances
Janak Bhavsar		0.110
Provisions for Expenses
Auditors Remuneration Payable		0.007
Professional Fees Payable		0.003
		0.010
Other Liabilities
TDS Payable		0.010
Pre-Operative Expenditure
Auditors Remuneration		0.007
Bank Charges		0.001
Telephone Expenses		0.002
Legal and Professional Fees		0.005
		0.015

LIST OF PROJECT IN HAND

Parties Name	Project	Works Going On
Regency Properties	Thane Dombivali	Modular Kitchen
Everest Developers	Wadala	Modular Kitchen
India Bulls Properties Private Limited	Elphinston	Doors and door Frame
Runwal Capitaland India Private Limited	The Orchard Residency Ghatkopar (West)	Doors and door Frame

COST OF PROJECT

(Rs. In Millions)

Particulars	Phase I	Phase II	Total	Promoters Contribution	Bank Finance
Land	-	-	4.575	4.575	-
Plant Building	56.326	24.716	81.042	24.313	56.729
Plant and Machinery	13.431	5.112	18.543	5.563	12.980
Furniture	1.500	0.500	2.000	0.600	1.400
Office Equipments	0.400	0.100	0.500	0.150	0.350
	71.657	30.428	106.660	35.201	71.459
Contingent at 2.50%			2.667	2.667	-
Total Cost of Project			109.327	37.868	71.459

MEANS OF FINANCE

(Rs. In Millions)

Promoters Contribution	37.867
Term Loan from Bank	71.460
Total	109.327

THE TOTAL ESTIMATED COST OF AN INDUSTRIAL PROJECT FOR SHREEJI WOODCRAFT PRIVATE LIMITED

(Rs. In millions)

Building Name	Estimated Cost in Millions of the Unit
Office Building (A)	11.900
“B” Industrial Shed	32.226
“C” Industrial Shed	24.216
“D” Canteen Building	1.250
Compound Wall and Gates	9.850
Storm water Drain (gutter)	1.000
Watch man’s Cabin	0.100
Architects’ Fees	0.500
Total	81.042

OPERATING PARAMETERS

Model	:	NTC-400 (V)
Heat Output (Kcals/hr)	:	400000 Kcals/hr
Maximum Unit Outlet Temp ºC		280ºC
Fuel	:	COAL / WOOD / BRIQUETTES
Fuel consumption based on n. c. v. of Coal : 4000Kcals / Kg. Wood : 3300Kcals / Kg. Briquettes : 4000Kcals / Kg.	:	Coal : 128 Kgs/hr. Wood : 174 128 Kgs/hr. Briquettes : 144 Kgs/hr.
Thermal Efficiency (based on GCV)	:	70 + /-2%
Electric Supply	:	AC, 3 phase, 415V, 4 wire system
Electric Load		14 HP

SCOPE OF SUPPLY

Main Unit : Comprising of Heat Exchanger with M.S. enclosures. The Heat Exchanger (coil) will be of 3 Pass Design, with Liberal Heat Transfer Area and Adequate Furnace Volume to facilitate complete Heat Exchange from Fuel Gases of Solid Fuels like Coal / Wood. The coil will have parallel passes to ensure extremely Low Pressure drop across the unit. The coil will be made from Boiler Quality Pipes and high velocity of Thermic Fluid will be maintained across the coil to ensure a good rate of Heat Exchange. (Insulation of unit will be done by the contractor).

The Furnace : The Furnace will be made from 10 SWG M. S. Sheets, with necessary angle supports.

The furnace will be provided with :

· 1 No. fire Door

· 1 No. Ash Removal Door

· 1 set of CI Fire Bars

(Refactory Job will have to be done on site by the contractor).

Expansion Cum Deareator Tank : Specially Designed Expansion Cum Deareator Tank of 500 ltrs capacity made from 3mm and 5mm plates with 2 nos. separation and buffer vessels, interconnected with each other and having inlet, outlet connections, arrangement for vapour removal, drain, level indication etc will be provided. The tank will have 4 nos. Lugs to facilitate mounting of the same at desired height.

Thermic Fluid Circulation Pump : A Motor driven Thermic Fluid circulation pump will be provided with the unit. The pump and motor will be coupled vide a Love-Joy coupling and mounted on a base frame with drip collection tray, coupling guard and water cooling arrangement.

Control Panel : A completely prewired control panel having following for fail safe operation of the unit will be provided with the unit.

a) Control Console Box :	One no. dust and Vermin resistant control panel box having rubber sealing for dust and corrosion resistant enclosure. The panel box will have OVEN-BAKED PAINTING for long life. The panel will be floor mounted type.
b) Contractors and Overload protection relays for circulation pump and I D Fan / F D Fan	Switch gears of Telemecaniques make will be provided. Overload repays will be provided to ensure safety of motors against single phasing.
c) Main Switch and Programmer Switch :	For On /OFF and programmed operation of the unit.
d) Return Temperature Indicator Cum Controller :	One no. digital electronic type temperature controller with thermocouple compensating cable etc. for precise temperature control will be provided.
e) Outlet Temperature :	One no. digital electronic type temperature controller with thermocouple compensating cable etc. for precise monitoring of outlet temperature and actuation of alarm in case of abnormal temperature condition will be provided.
f) Pan-Alarm system of Audio-Visual type for precise-Fault Indication :	One set of panel mounted alarm system for alarm actuations in case of abnormal conditions. The following alarms will be provided:- a) High outlet temperature b) Low T.F. pressure c) High T.F. pressure d) Overload T.F. Pump e) Overload F.D./I.D. fan
g) MCB on Control Circuit :	1 No. MDS / Indo Kopp make MCB will be provided to avoid any malfunctioning due to short circuit.
h) Individual Fuse units for T. F. circulation Pump, I.D. fan etc.	Complete fuse assemblies of Bharat Linder Make, TP type.

Instrument Panel : One no. unit mounted instrument box will be provided to house nos. pressure switches and

nos. bakelite moulded, 4” dial pressure gauges to show the pump and system pressure.

I.D. Fan : One no. belt driven I.D. fan for controlled air flow within the combustion chamber and venting of fuel gases through the chimney. The I.D. fan will have dynamically balanced impeller and the shaft will be bearing supported.

F.D. Fan : One no. motor driven F.D. fan for supply of primary air and efficient combustion will be provided.

Inlet / Outlet Headers : Flanged end Inlet / Outlet Headers with thermowells for temperature sensing and isolation valves for pressure lines provided for pressure indication and low pressure / high pressure control switches.

Internal Piping and Wiring : One set will be provided

Complete set of installation and operational manual with wiring diagram, Installation diagram, foundation drawing of T.F. pump, chimney etc. : One set will be provided.

PRICE SCHEDULE

Supply of Neotech’s Coal / Wood fired Thermic Fluid Heater with standard scope of supply.	NTC : 400 (V)
Scope of supply	Rs.0.700 million
Refactory Cost	Rs.0.045 million

PRICE BASIS

The above prices are ex-works Asangaon and shall exclude the charges for Packing and Forwarding, Excise Duty and VAT (as applicable at the time of dispatch), octroi, Transit Insurance and Freight from the Works to the site.

PAYMENT

Advance, 30% with order.

Balance against Proforma Invoice prior to dispatch.

GUARANTORS

· Mrs. Hemal C Parekh

· Mrs. Reema S Parekh

STATEMENT OF ASSETS AND LIABILITIES

Mr. Nilesh Shard Parekh

Particulars	(Rs. In millions)
Annual Income	0.180
Rent	0.120
Profit from Partnership Firm	3.683
Other Income	0.010

DETAILS OF ASSETS OWNED

Investment in Business Capital

Name of the Company / firm / concern in which investment is made	Amount Invested (Rs. In millions)
Zyrex Enterprises	10.690
Siddhivinayak Construction	0.007
Shreeji Wood Craft Private Limited	0.022
Shreeji Construction	0.054

Deposits held with Banks

Name of the Bank	Nature of Deposits held	Amount of Deposits (Rs. In millions)
Corporation Bank	Saving A/C	0.015
HDFC Bank	Saving A/C	0.018

Deposits held with Companies / Others

Name of the Company	Nature of Deposits	Amount of Deposits (Rs. In millions)
Shreeji Wood Craft	Loans and Advances	1.27
Rustam Irani Gun	Loans and Advances	0.015
Mudra Co-Op. Credit	F.D.	0.029
Reliance Energy	Deposit	0.006
Family loan	Loans and Advances	0.920

Immovable Properties

Name of the Owner	Description of property	Location / Address of property
Nilesh S Parekh	Flat	C/209, Parichay C.H.S.
Nilesh S Parekh	Shed	K-2, National Mill Compound
Nilesh S Parekh	Plot	Mira Road

Type of property i.e. whether residential / agricultural / industrial / Commercial etc.	Original purchase Cost (Rs. In millions)	Present market value (Rs. In millions)
Residential	1.188	4.000
Industrial Gala	0.877	5.200
Flat	1.093	6.500

Government Securities / National Savings Certificates / Shares of listed companies / units of Unit Trust of India etc.

Description of security	Face Value (Rs. In millions)
Shares of listed com.	0.021
NSC and Post	0.090
PPF	0.036
SBI M.F.	0.025

Including Movables Assets like Furniture / Plant and Machinery / Vehicles / Jewels etc.

Nature / Details of assets	Market value of assets (Rs. In millions)
Computer	0.158

Total Assets

Rs.16.534 Millions

LIABILITIES

Borrowings from others

Name of the Lender	Amount Borrowed (Rs. In millions)
Family Loan	7.016

(Rs. In millions)

Total Liabilities	7.016
Net Worth	9.518

Capital Structure

Capital Investment :
Owned :	Rs.9.519 millions
Borrowed :	-
Total :	Rs.9.519 millions

BALANCE SHEET

(Rs. In Millions)

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Capital A/c		9.519	6.425	2.909
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		9.519	6.425	2.909
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.010
2] Unsecured Loans		6.368	6.112	6.007
TOTAL BORROWING		6.368	6.112	6.017
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		15.887	12.537	8.926
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.158	3.158	3.158
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		10.996	9.607	6.117
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.190	0.077	0.031
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.543	(0.305)	(0.380)
Total Current Assets		1.733	(0.228)	(0.349)
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		1.733	(0.228)	(0.349)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		15.887	12.537	8.926

Mr. Vipul Sharad Parekh

Particulars	(Rs. In millions)
Annual Income	0.120
Rent	0.120
Profit from Firm	0.399

DETAILS OF ASSETS OWNED

Investment in Business Capital

Name of the Company / firm / concern in which investment is made	Amount Invested (Rs. In millions)
Shree Wood Industries	2.447
Shreeji Timber Technique and Engineering Private Limited	0.344
Shreeji Wood Craft Private Limited	0.023
Shubhlaxmi Ceramics	0.033

Deposits held with Banks

Name of the Bank	Nature of Deposits held	Amount of Deposits (Rs. In millions)
Corporation Bank	Saving	0.009
HDFC Bank	Saving	0.015

Deposits held with Companies / Others

Name of the Company	Nature of Deposits	Amount of Deposits (Rs. In millions)
Shreeji Timber Technique and Engineering	Loans and Advances	0.500
Shreeji Wood Craft Private Limited	Loans and Advances	0.903
Other Loans	Loans and Advances	0.733

Immovable Properties

Name of the Owner	Description of property	Location / Address of property
Vipul S Parekh	Flat	C-602, Gurukul, Dahisar
Vipul S Parekh	Shed	K-2, National Mill Compound

Type of property i.e. whether residential / agricultural / industrial / Commercial etc.	Original purchase Cost (Rs. In millions)
Residential	1.374
Industrial Gala	0.877

Government Securities / National Savings Certificates / Shares of listed companies / units of Unit Trust of India etc.

Description of security	Face Value (Rs. In millions)
PPF	0.074
NSC	0.007
Post Deposit	0.033
Mutual Fund	0.040
Shares	0.022
Others	0.091

Including Movables Assets like Furniture / Plant and Machinery / Vehicles / Jewels etc.

Nature / Details of assets	Market value of assets (Rs. In millions)
Cash	0.040

Total Assets

Rs.7.565 Millions

LIABILITIES

Credit limits / facilities with Financial Institutions and Banks

Name of the Institution / Bank	Nature of Credit Facility	Extent (Rs. In millions)
ICICI	Housing Loan	0.791

Borrowings from others

Name of the Lender	Amount Borrowed (Rs. In millions)
Family Loan	1.506

Other Liabilities

Nature of liability	Extent of liability (Rs. In millions)
Rent Deposit	0.350

(Rs. In millions)

Total Liabilities	2.647
Net Worth	4.918

Capital Structure

Capital Investment :
Owned :	Rs.4.918 millions
Borrowed :	-
Total :	Rs.4.918 millions

BALANCE SHEET

(Rs. In Millions)

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Capital A/c		4.918	4.763	4.410
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.918	4.763	4.410
LOAN FUNDS
1] Secured Loans		0.791	0.833	0.891
2] Unsecured Loans		1.507	0.300	0.163
TOTAL BORROWING		2.298	1.133	1.054
DEFERRED TAX LIABILITIES
Rent Deposit		0.350	0.350	0.350
TOTAL		7.566	6.246	5.814
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.252	2.251	2.252
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		3.614	1.121	0.482
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.064	0.094	0.357
	Other Current Assets	0.000	1.811	1.518
	Loans & Advances	1.636	0.969	1.205
Total Current Assets		1.700	2.874	3.080
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		1.700	2.874	3.080
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.566	6.246	5.814

Mr. Shashikant Mohanlal Mer

Particulars	(Rs. In millions)
Annual Income	0.120
Interest	0.089
Remuneration	0.090
Profit from Firm	2.302

DETAILS OF ASSETS OWNED

Investment in Business Capital

Name of the Company / firm / concern in which investment is made	Amount Invested (Rs. In millions)
Zyrex Enterprises	3.553
Shreeji Timber Technique and Engineering	0.279
Krishna Wood Craft	1.949
Shreeji Wood Craft Private Limited	0.010

Deposits held with Banks

Name of the Bank	Nature of Deposits held	Amount of Deposits (Rs. In millions)
Corporation Bank	Saving A/C	0.266
Bank of Baroda	Saving A/C	0.037

Deposits held with Companies / Others

Name of the Company	Nature of Deposits	Amount of Deposits (Rs. In millions)
Shreeji Timber Technique	Loans and Advance	0.500
Shreeji Wood Cradt	Loans and Advance	0.590
Family Loan	Loan	0.457

Immovable Properties

Name of the Owner	Description of property	Location / Address of property
Shashikant M Mer	Flat	Flat No.2, Mangalam, Borivali (East)

Type of property i.e. whether residential / agricultural / industrial / Commercial etc.	Original purchase Cost (Rs. In millions)	Present market value (Rs. In millions)
Residential Flat	0.636	3.100

Government Securities / National Savings Certificates / Shares of listed companies / units of Unit Trust of India etc.

Description of security	Face Value (Rs. In millions)
NSC	0.021
PPF	0.329
Axis	0.020
Reliance Equity	0.020

Including Movables Assets like Furniture / Plant and Machinery / Vehicles / Jewels etc.

Nature / Details of assets	Market value of assets (Rs. In millions)
Scooter	0.019
Cash	0.058

Total Assets

Rs.8.744 millions

LIABILITIES

Borrowings from others

Name of the Lender	Amount Borrowed (Rs. In millions)
Family	1.200

(Rs. In millions)

Total Liabilities	1.200
Net Worth	7.544

Capital Structure

Capital Investment :
Owned :	Rs.7.544 millions
Borrowed :	-
Total :	Rs.7.544 millions

BALANCE SHEET

(Rs. In Millions)

SOURCES OF FUNDS		31.03.2008
SHAREHOLDERS FUNDS
1] Capital A/c		7.544
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		7.544
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		1.200
TOTAL BORROWING		1.200
DEFERRED TAX LIABILITIES		0.000
TOTAL		8.744
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.655
Capital work-in-progress		0.000
INVESTMENT		4.233
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.360
	Other Current Assets	1.956
	Loans & Advances	1.540
Total Current Assets		3.856
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.000
Net Current Assets		3.856
MISCELLANEOUS EXPENSES		0.000
TOTAL		8.744

Mr. Chirag Sharadbhai Parekh

Particulars	(Rs. In millions)
Rent	0.240
Interest	0.155
Other Income	0.009
Profit from Firm	0.965

DETAILS OF ASSETS OWNED

Investment in Business Capital

Name of the Company / firm / concern in which investment is made	Amount Invested (Rs. In millions)
Shreeji Doors and Plywood Industries	4.843
Shreeji Wood Craft Private Limited	0.022

Deposits held with Banks

Name of the Bank	Nature of Deposits held	Amount of Deposits (Rs. In millions)
HDFC	Saving	0.064
Corporation Bank	Saving	0.010
Bank of Baroda	Saving	0.003

Deposits held with Companies / Others

Name of the Company	Nature of Deposits	Amount of Deposits (Rs. In millions)
Shreeji Wood Craft Private Limited	Loans and Advances	0.772
Mudra Co-Operative	F.D.	0.010
Family Advance	Loans and Advances	0.661

Immovable Properties

Name of the Owner	Description of property	Location / Address of property
Chirag S Parekh	Flat	Ekta Tarace, Kandivali
Chirag S Parekh	Shed	K-2, National Mill Compound

Type of property i.e. whether residential / agricultural / industrial / Commercial etc.	Original purchase Cost (Rs. In millions)	Present market value (Rs. In millions)
Residential	2.247	4.900
Industrial Gala	0.877	5.200

Government Securities / National Savings Certificates / Shares of listed companies / units of Unit Trust of India etc.

Description of security	Face Value (Rs. In millions)
NSC	0.027
PPF	0.074
Post Saving	0.033
SBI F.M.	0.025

Including Movables Assets like Furniture / Plant and Machinery / Vehicles / Jewels etc.

Nature / Details of assets	Market value of assets (Rs. In millions)
Cash	0.098

Total Assets

Rs.9.766 millions

LIABILITIES

Credit limits / facilities with Financial Institutions and Banks

Name of the Institution / Bank	Nature of Credit Facility	Extent (Rs. In millions)
Bank of Baroda	Housing Loan	1.851

Borrowings from others

Name of the Lender	Amount Borrowed (Rs. In millions)
Family Loan	3.585

(Rs. In millions)

Total Liabilities	5.436
Net Worth	4.330

Capital Structure

Capital Investment :
Owned :	Rs.4.330 millions
Borrowed :	-
Total :	Rs.4.330 millions

BALANCE SHEET

(Rs. In Millions)

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Capital A/c		4.330	3.560	3.262
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.330	3.560	3.262
LOAN FUNDS
1] Secured Loans		1.851	1.650	0.000
2] Unsecured Loans		2.890	1.840	1.770
TOTAL BORROWING		4.741	3.490	1.770
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		9.071	7.050	5.032
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.124	2.926	1.172
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.191	0.162	0.142
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.175	0.033	0.042
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	5.581	3.929	3.676
Total Current Assets		5.756	3.962	3.718
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		5.756	3.962	3.718
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		9.071	7.050	5.032

Mr. Sharad R Parekh

Particulars	(Rs. In millions)
Rent	0.185
Other Income	0.007
Profit from Firm	1.434

DETAILS OF ASSETS OWNED

Investment in Business Capital

Name of the Company / firm / concern in which investment is made	Amount Invested (Rs. In millions)
Siddharth Industries	2.282
Siddhivinayak Timber	0.064
Subhlaxmi Petrolium	1.112
Siddhivinayak Construction	0.007
Shreeji Wood Craft Private Limited	0.022

Deposits held with Banks

Name of the Bank	Nature of Deposits held	Amount of Deposits (Rs. In millions)
Corporation Bank	Saving	0.408
HDFC Bank	Saving	0.096
State Bank of Saurashtra	Saving	0.002

Deposits held with Companies / Others

Name of the Company	Nature of Deposits	Amount of Deposits (Rs. In millions)
Shreeji Wood Craft Private Limited	Loans and Advance	1.402
Family Loan	Loans and Advance	2.320

Immovable Properties

Name of the Owner	Description of property	Location / Address of property
Sharad Kumar Parekh	Flat	C-209, Parichay, Dahisar
Sharad Kumar Parekh	Shed
Sharad Kumar Parekh	Plot

Type of property i.e. whether residential / agricultural / industrial / Commercial etc.	Original purchase Cost (Rs. In millions)	Present market value (Rs. In millions)
Residential	0.611	3.500
Industrial Gala	0.877	5.200
Plot	1.093	6.500

Government Securities / National Savings Certificates / Shares of listed companies / units of Unit Trust of India etc.

Description of security	Face Value (Rs. In millions)
NSC	0.021
Shares	0.059
Others	0.010

Including Movables Assets like Furniture / Plant and Machinery / Vehicles / Jewels etc.

Nature / Details of assets	Market value of assets (Rs. In millions)
Kinetic Scooter	0.024
Cash on Hand	0.067
LIC	0.182

Total Assets

Rs.10.659 millions

LIABILITIES

Borrowings from others

Name of the Lender	Amount Borrowed (Rs. In millions)
Family Loan	2.290

(Rs. In millions)

Total Liabilities	2.290
Net Worth	8.369

Capital Structure

Capital Investment :
Owned :	Rs.8.369 millions
Borrowed :	-
Total :	Rs.8.369 millions

BALANCE SHEET

(Rs. In Millions)

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Capital A/c		8.369	7.052	4.233
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.369	7.052	4.233
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.139	0.443	0.548
TOTAL BORROWING		0.139	0.443	0.548
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.508	7.495	4.781
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.605	2.605	2.605
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.288	1.312	1.360
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.574	0.065	0.068
	Other Current Assets	2.527	3.601	1.654
	Loans & Advances	1.514	(0.088)	(0.906)
Total Current Assets		4.615	3.578	0.816
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		4.615	3.578	0.816
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.508	7.495	4.781

M/S SUBHLAXMI PETROLIUM COMPANY

Balance Sheet Statement for the year ended 31.03.2006

SOURCES OF FUNDS		31.03.2006
SHAREHOLDERS FUNDS
1] Sharadbhai R Parekh Capital A/c		1.177
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		1.177
Loan Account		1.590
TOTAL BORROWING		1.590
DEFERRED TAX LIABILITIES		0.000
TOTAL		2.767
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.120
	Sundry Debtors	0.000
	Cash & Bank Balances	0.025
	Other Current Assets	0.385
	Loans & Advances	1.237
Total Current Assets		2.767
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.000
Net Current Assets		2.767
MISCELLANEOUS EXPENSES		0.000
TOTAL		2.767

Profit and Loss Statement for the year ended 31.03.2006

PARTICULARS	31.03.2006
Total Income	0.726
Net Profit	0.248
Total Expenditure	0.478

Mrs. Hemal Chirag Parekh

Particulars	(Rs. In millions)
Profit	0.468
Short term capital	0.037
Other	0.004

DETAILS OF ASSETS OWNED

Investment in Business Capital

Name of the Company / firm / concern in which investment is made	Amount Invested (Rs. In millions)
Shivam Wood Industries	3.892
Shreeji Wood Craft Private Limited	0.022

Deposits held with Banks

Name of the Bank	Nature of Deposits held	Amount of Deposits (Rs. In millions)
Corporation Bank	Saving	0.009
HDFC	Saving	0.070

Deposits held with Companies / Others

Name of the Company	Nature of Deposits	Amount of Deposits (Rs. In millions)
Reena V Parekh	Loans and Advance	0.040
Ekta Developers	Loans and Advance	0.050

Government Securities / National Savings Certificates / Shares of listed companies / units of Unit Trust of India etc.

Description of security	Face Value (Rs. In millions)
PPF	0.015
Shares	0.919
HDFC LIP	0.050
SBI M.F.	0.075
Reliance M.F.	0.025

Including Movables Assets like Furniture / Plant and Machinery / Vehicles / Jewels etc.

Nature / Details of assets	Market value of assets (Rs. In millions)
Computer	0.045

Total Assets

Rs.5.212 Millions

LIABILITIES

Borrowings from others

Name of the Lender	Amount Borrowed (Rs. In millions)
Family Loan	2.558

(Rs. In millions)

Total Liabilities	2.558
Net Worth	2.654

Capital Structure

Capital Investment :
Owned :	Rs.2.654 millions
Borrowed :	-
Total :	Rs.2.654 millions

BALANCE SHEET

(Rs. In Millions)

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Capital A/c		2.654	2.484	2.856
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.654	2.484	2.856
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		1.805	0.605	(0.230)
TOTAL BORROWING		1.805	0.605	(0.230)
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4.459	3.089	2.626
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.996	3.269	2.282
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.123	0.019	0.194
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	(0.660)	(0.199)	0.150
Total Current Assets		(0.537)	(0.180)	0.344
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		(0.537)	(0.180)	0.344
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.459	3.089	2.626

Mrs. Reena V Parekh

Particulars	(Rs. In millions)
Interest	0.181
Short term capital	0.026
Profit from Firm	3.224
Other	0.008

DETAILS OF ASSETS OWNED

Investment in Business Capital

Name of the Company / firm / concern in which investment is made	Amount Invested (Rs. In millions)
Krishna Wood Craft	5.228
Shreeji Wood Craft Private Limited	0.022
Shreeji Timber Tech.	0.156

Deposits held with Banks

Name of the Bank	Nature of Deposits held	Amount of Deposits (Rs. In millions)
Canara Bank	Saving	0.005
Corporation Bank	Saving	0.115
HDFC Bank	Saving	0.007

Deposits held with Companies / Others

Name of the Company	Nature of Deposits
Shree Wood Industries	0.150
Family Loan	1.447

Immovable Properties

Name of the Owner	Description of property	Location / Address of property
Reena V Parekh	Flat	C-209, Gurukul, Dahisar (West)

Type of property i.e. whether residential / agricultural / industrial / Commercial etc.	Original purchase Cost (Rs. In millions)
Residential Flat	0.458

Government Securities / National Savings Certificates / Shares of listed companies / units of Unit Trust of India etc.

Description of security	Face Value (Rs. In millions)
PPF	0.015
HDFC LIP	0.050
	0.135
	0.586

Including Movables Assets like Furniture / Plant and Machinery / Vehicles / Jewels etc.

Nature / Details of assets	Market value of assets (Rs. In millions)
Gold Ornament	0.115
Cash	0.036

Total Assets

Rs.8.525 Millions

LIABILITIES

Borrowings from others

Name of the Lender	Amount Borrowed (Rs. In millions)
Family Loan	0.187

(Rs. In millions)

Total Liabilities	0.187
Net Worth	8.338

Capital Structure

Capital Investment :
Owned :	Rs.8.338 millions
Borrowed :	-
Total :	Rs.8.338 millions

BALANCE SHEET

(Rs. In Millions)

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Capital A/c		8.338	5.597	4.593
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8.338	5.597	4.593
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		(0.150)	(0.200)	0.000
TOTAL BORROWING		(0.150)	(0.200)	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.188	5.397	4.593
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.573	0.573	0.573
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.962	0.466	0.167
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.163	0.240	0.451
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	6.490	4.118	3.402
Total Current Assets		6.653	4.358	3.853
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		6.653	4.358	3.853
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.188	5.397	4.593

PROJECTED PROFIT AND LOSS ACCOUNT

(Rs. In Millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Projected
1. Goss Sales
Domestic Sales	171.538	354.825	422.833	465.116	524.746
Export Sales	-	-	-	-	-
Total	171.538	354.825	422.833	465.116	524.746
2. Less : Excise Duty	12.707	26.283	31.321	34.453	38.870
3. Net Sales [1-2]	158.831	328.541	391.512	430.663	485.876
4. % rise [+] or fall [-] in net sales as compared to previous year	10.000	10.685	1.917	1.000	1.282
5. Cost of Sales
i] Raw Materials [Including stores and other items used in the process of manufacture]
[a] Imported	-	-	-	-	-
[b] Indigenous	114.204	243.445	290.108	319.116	360.029
ii] Other Spares and Plant mantainence
[a] Imported	-	-	-	-	-
[b] Indigenous	1.142	2.434	2.901	3.191	3.600
iii] Wages	6.958	11.886	14.460	17.431	19.174
Iv] Electricity and Power	2.500	3.150	3.308	3.473	3.647
v] Other Manufacturing Expenses	-	-	-	-	-
vi] Depreciation	9.784	10.330	9.158	8.123	7.210
Vii] SUB TOTAL [i to vi]	134.588	271.246	319.933	351.335	393.660
viii] Add : Opening Stocks – in – process	-	12.092	25.777	30.717	33.789
Sub Total	134.588	283.338	345.709	382.052	427.449
ix] Deduct : Closing Stock – in – Process	12.092	25.777	30.717	33.789	38.121
x] Cost of production	122.495	257.562	314.992	348.263	389.328
xi] Add : Opening Stock of finished goods	-	4.466	9.310	11.088	12.253
Sub – total	122.495	262.028	324.302	359.351	401.581
xii] Deduct: Closing Stock – in - finished goods	4.466	9.310	11.088	12.253	13.793
xiiii] Sub – total (Total Cost of Sales)	118.029	252.718	313.214	347.098	387.788
6. Selling general and administrative expenses	12.142	21.047	24.658	27.123	30.443
7. SUB – TOTAL [5+6]	130.171	273.765	337.871	374.222	418.231
8. Operation profit before interest [3-7]	28.661	54.776	53.640	56.441	67.645
9. Interest	14.354	13.996	12.720	11.443	10.167
10. Operating profit after interest [8-9]	14.307	40.780	40.921	44.998	57.478
11. i] Add : other non-operating income	-	-	-	-	-
Sub – total [Income]	-	-	-	-	-
ii] Deduct other non-operating expenses
a) Expenses on Consultancy Income	-	-	-	-	-
b) Preliminery Expenses w/off	0.005	0.005	0.005	0.005	0.005
Sub – total [Expenses]	0.005	0.005	0.005	0.005	0.005
iii] Net of other non-operating income / expenses	(0.005)	(0.005)	(0.005)	(0.005)	(0.005)
12. Profit before tax / Loss [10+11[iii]]	14.302	40.775	40.916	44.993	57.473
13. Provision for taxes	4.861	13.859	13.907	15.293	19.535
14. Net profit / loss [12-13]	9.441	26.915	27.008	29.700	37.938
15. Withdrawals	-	-	-	-	-
16. Retained profit [14-15]	9.441	26.915	27.008	29.700	37.938
17. Retained profit [%]	0.00%	0.00%	100.00%	100.00%	100.00%

PROJECTED BALANCE SHEETS

(Rs. In millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Projected
01. Short – Term borrowings from banks [including bills, purchased, discounted and excess borrowings placed on repayment basis]
i] From Application Bank	17.720	20.000	20.000	20.000	20.000
Ii] From other banks	-	-	-	-	-
Sub Total [A]	17.720	20.000	20.000	20.000	20.000
02. Short Term Borrowings from promoters	-	-	-	-	-
03. Sundry creditors [Trade]	14.080	30.014	35.766	39.343	44.387
04. Advance payments from customers  / Deposits from dealers	-	-	-	-	-
05. Provision for tax	-	-	-	-	-
06. Dividend payable	-	-	-	-	-
07. other statutory liabilities	-	-	-	-	-
08. Deposits / Installments of term loans / DPGs / debentures, etc [due within one month] For New Project	0.851	0.851	0.851	0.851	0.851
09. Other current liabilities and provisions [due within one year] [Specify major items]	-	-	-	-	-
Sub – Total [B]	14.931	30.865	36.617	40.194	45.238
10 TOTAL CURRENT LIABILITIES [Total of 1 to 9]	32.651	50.865	56.617	60.194	65.238
TERM LIABILITIES
11 Debentures [not maturing within one year]	-	-	-	-	-
12 Preference Shares [Redeemable after 1 year]	-	-	-	-	-
13 Term loans [excluding installments  payable within one year] For New Project	-	-	-	-	-
14 Deferred Payment Credits [excluding installments due within one year]	-	-	-	-	-
15 Term deposit [repayable after one year]	64.652	54.440	44.228	34.016	23.804
16 other Term Liabilities	-	-	-	-	-
17 TOTAL TERM LIABILITIES [Total of 11 to 16]	64.652	54.440	44.228	34.016	23.804
18 TOTAL OUTSIDE LIABILITIES [Item 10 + 17]	97.303	105.305	100.845	94.210	89.042
NET WORTH
19 Proprietor’s Capital – Equity Shares	5.000	5.000	5.000	5.000	5.000
Loan from Promoters	30.000	30.000	30.000	30.000	30.000
20 General Reserve	-	-	-	-	-
21 Revaluation Reserve	-	-	-	-	-
22 Other Reserves – Government Grant	-	-	-	-	-
23 Surplus [+] or deficit [-] in Profit and Loss Account	9.441	36.356	63.365	93.064	131.002
24 NET WORTH [19+23]	44.441	71.356	98.365	128.064	166.002
25 TOTAL LIABILITIES [18+24]	141.744	176.661	199.210	222.275	255.044
CURRENT ASSETS
26 Cash and Bank Balance	5.502	9.629	26.237	47.981	74.742
27 Investments [Other than long term investments]
i] Government and other Trustee securities	-	-	-	-	-
ii] Fixed deposit with bank	-	-	-	-	-
28 I] Receivables other than deferred and exports
Credit Term 45 days	21.148	43.746	52.130	57.343	64.695
II] Export receivables	-	-	-	-	-
29 Instalments of Deferred  receivables [due within one year]	-	-	-	-	-
30 Inventory
i] Raw materials [Including stores and other items used in the process of manufacture]
a] Imported	-	-	-	-	-
b] Indigenous	-	-	-	-	-
ii] Stock – in – process	12.092	25.777	30.717	33.789	38.121
iii] Finished Goods	4.466	9.310	11.088	12.253	13.793
IV] Other consumable spares
a] Imported	-	-	-	-	-
b] Indigenous	-	-	-	-	-
31. Advances to suppliers of Raw Materials and stores/spares	-	-	-	-	-
32. Advance payment of taxes	-	-	-	-	-
33. Other current assets (specify major items)	-	-	-	-	-
34 TOTAL CURRENT ASSETS [Total of 26 to 33]	43.209	88.461	120.173	151.366	191.350
FIXED ASSETS
35 Gross Block (land and building, machinery, work-in-progress)	108.300	108.300	108.300	108.300	108.300
36. Depreciation to date	9.784	20.114	29.272	37.395	44.605
37 NET BLOCK [35-36]	98.516	88.186	79.028	70.905	63.695
OTHER NON – CURRENT ASSETS
38 Investments / book / debts / advances / deposits which are not Current Assts
i] [a] Investments in Subsidiary companies / affiliates	-	-	-	-	-
[b] Others	-	-	-	-	-
ii] Advances to suppliers of capital goods and contractors	-	-	-	-	-
iii] Deferred receivables [maturity exceeding one year]	-	-	-	-	-
iv] Others	-	-	-	-	-
39 Non consumables Stores and Spares	-	-	-	-	-
40 Other non – current assets including dues from directors (Deferred Tax Assets)	-	-	-	-	-
41 TOTAL OTHER NON – CURRENT ASSETS [total of 38 to 40]	-	-	-	-	-
42 Intangible assets [Patents, goodwill, prelim, expenses, bad / doubtful expenses Not provided for etc.]	0.019	0.014	0.009	0.004	-
43 TOTAL ASSETS [Total of 34+37+41+42]	141.744	176.661	199.210	222.275	255.045
44 TANGIBLE NET WORTH [24-42]	44.422	71.342	98.355	128.060	166.002
45 NET WORKING CAPITAL [17 + 24]-[37+41+42]	10.558	37.597	63.555	91.172	126.113
to tally with [34-10]	10.558	37.597	63.555	91.172	126.112
46 Current Ratio  [Items 34/10]	0.132	0.174	0.212	0.251	0.293
47. Total Outside Liabilities / Tangible Net Worth (18/44)	2.19	1.48	1.03	0.74	0.54
Additional Information	-	-	-	-	-

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

[Rs in Millions]

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
A CURRENT ASSETS
1 Raw Materials (including stores and other items used in the process of manufacture)
[a] Imported	-	-	-	-	-
Months Consumption
[b] Indigenous
Months Consumption	-	-	-	-	-
2 Other consumable spares Excluding those included 1 above
[a] Imported	-	-	-	-	-
Months Consumption
[b] Indigenous	-	-	-	-	-
Months Consumption
3 Stock in process	12.092	25.777	30.717	33.789	38.121
Months cost of production	0.018	0.120	0.117	0.116	0.117
4 Finished goods	4.466	9.310	11.088	12.253	13.793
Months cost of sales	0.045	0.044	0.042	0.042	0.043
5 Receivable other than export and deferred receivables [including bills purchased and discounted by bankers]	21.148	43.746	52.130	57.343	64.695
Months domestic sales [excluding deferred payment sales]	0.148	0.148	0.148	0.148	0.148
6 Export receivables [including bills purchased and discounted) months export sales]	-	-	-	-	-
7 Advances to suppliers of raw materials and stores / spares consumable	-	-	-	-	-
8 Other current Assets including cash and bank balances and deferred receivable due within one year (Specify major items)	5.502	9.629	26.237	47.981	74.742
TOTAL CURRENT ASSETS (To agree with term 34 in Form III)	43.209	88.461	120.173	151.366	191.350
B CURRENT LIABILITIES
[Other than bank borrowing for working capital]
10 Creditors for purchases of raw materials stores and consumable spares	14.080	30.014	35.766	39.343	44.387
Months Purchases	0.148	0.148	0.148	0.148	0.148
11 Advances from customers	-	-	-	-	-
12 Statutory liabilities	-	-	-	-	-
13 Other current liability short term borrowing, unsecured loans, dividend payable, installment of DPG public deposit, debentures etc	0.851	0.851	0.851	0.851	0.851
14 TOTAL	14.931	30.865	36.617	40.194	45.238

PROJECTED CASH FLOW STATEMENT

[Rs in Millions]

Particulars Year Ending 31^st March	2009	2010	2011	2012	2013	2014
Sources of Funds
Net Profit before tax	-	14.302	40.775	40.916	44.993	57.473
Depreciation	-	9.784	10.330	9.158	8.123	7.210
Preliminery Expenses Written Off	-	0.005	0.005	0.005	0.005	0.005
	-	24.091	51.110	50.078	53.121	64.688
Less : Income Tax Paid	-	4.861	13.859	13.907	15.293	19.535
Retained Earnings	-	19.229	37.251	36.171	37.828	45.153
Increase in capital	4.800	-	-	-	-	-
Increase in Term Loan	45.000	26.460	-	-	-	-
Increase / Decrease in Working Capital	-	17.720	2.280	-	-	-
Unsecured Loan from Promoters	25.060	-	-	-	-	-
Increase in Current Liabilities	(0.020)	14.080	15.934	5.753	3.577	5.044
(A)	74.840	77.490	55.464	41.924	41.405	50.197
Application of Funds
Increase in Fixed Assets	73.298	30.428	-	-	-	-
Repayment of Term Loan	-	5.957	10.212	10.212	10.212	10.212
Increase in Current Assets	(0.110)	37.707	41.125	15.103	9.449	13.223
(B)	73.188	74.092	51.337	25.315	19.661	23.435
Opening Cash and Bank Balance	0.452	2.104	5.502	9.629	26.237	47.981
Surplus / (Deficit) for the year (A-B)	1.652	3.398	4.127	16.608	21.743	26.762
Closing Balance	2.104	5.502	9.629	26.237	47.981	74.742

RATIO ANALYSIS

Particulars Year Ending 31^st March	2009	2010	2011	2012	2013	2014
1) D S C R Ratio
a) Surplus Available
Net Profit after tax	-	9.441	26.915	27.008	29.700	37.938
Depreciation	-	9.784	10.330	9.158	8.123	7.210
Interest Payment	-	14.354	13.996	12.720	11.443	10.167
a)	-	33.578	51.242	48.886	49.266	55.315
b) Repayment Obligations
Interest	-	14.354	13.996	12.720	11.443	10.167
Term loan	-	5.957	10.212	10.212	10.212	10.212
b)	-	20.311	24.208	22.932	21.655	20.379
D S C R Ratio	-	1.65	2.12	2.13	2.28	2.71
2) Current Ratio
Current Assets	2.104	43.209	88.461	120.173	151.366	191.350
Current Liabilities	0.000	32.651	50.865	56.617	60.194	65.238
=	#Div/01	1.32	1.74	2.12	2.51	2.93
3) Total Outside Liabilities	45.000	97.303	105.305	100.845	94.210	89.042
Tangible Net Worth	34.976	44.422	71.342	98.355	128.060	166.002
=	1.29	2.19	1.48	1.03	0.74	0.54
4) Earning Per Shares
= Net profit after tax	-	9.441	26.915	27.008	29.700	37.938
No. of Equity Shares	0.20	5.00	5.00	5.00	5.00	5.00
=	-	18.88	53.83	54.02	59.40	75.88

REVENUE PROJECTIONS

Revenue for the year ended 31.03.2010

	Flush Door (No)	Wooden Floor (Sq. ft.)	Door Frame (No.)
Capacity per month	12000	12000	7000
Projected Sales Capacity	75%	75%	75%
Sales per month	9000	9000	5250
No. of months	10	5	5
Sales Price	1225	190	1525
Net Sales (3*4*5)	110250000	8550000	40031250
Excise at 8%	8820000	684000	3202500
	119070000	9234000	43233750
Total Sales	171537750

Revenue for the year ended 31.03.2011

	Flush Door (No)	Wooden Floor (Sq. ft.)	Door Frame (No.)
Capacity per month	12000	12000	7000
Projected Sales Capacity	90%	90%	90%
Sales per month	10800	10800	6300
No. of months	12	12	12
Sales Price	1348	209	1678
Net Sales (3*4*5)	174636000	27086400	126819000
Excise at 8%	13970880	2166912	10145520
	188606880	29253312	136964520
Total Sales	354824712

Revenue for the year ended 31.03.2012

	Flush Door (No)	Wooden Floor (Sq. ft.)	Door Frame (No.)
Capacity per month	12000	12000	7000
Projected Sales Capacity	98%	98%	98%
Sales per month	11700	11700	6825
No. of months	12	12	12
Sales Price	1482	230	1845
Net Sales (3*4*5)	208107900	32277960	151125975
Excise at 8%	16648632	2852237	12090078
	224756532	34860197	163216053
Total Sales	422832782

Revenue for the year ended 31.03.2013

	Flush Door (No)	Wooden Floor (Sq. ft.)	Door Frame (No.)
Capacity per month	12000	12000	7000
Projected Sales Capacity	98%	98%	98%
Sales per month	11700	11700	6825
No. of months	12	12	12
Sales Price	1630	253	2030
Net Sales (3*4*5)	228918690	35505756	166238573
Excise at 8%	18313495	2840460	13299086
	247232185	38346216	179537658
Total Sales	465116060

Revenue for the year ended 31.03.2014

	Flush Door (No)	Wooden Floor (Sq. ft.)	Door Frame (No.)
Capacity per month	12000	12000	7000
Projected Sales Capacity	100%	100%	100%
Sales per month	12000	12000	7000
No. of months	12	12	12
Sales Price	1794	278	2233
Net Sales (3*4*5)	258267240	40057776	187551210
Excise at 8%	20661379	3204622	15004097
	278928619	43262398	202555307
Total Sales	524746324

STORES AND PLANT MANTAINENCE PROJECTIONS

(Rs. in millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Cost of Raw Materials	114.204	243.445	290.106	319.116	360.029
Consumables at 1% of Cost of Raw Material	1.142	2.434	2.901	3.191	3.600

ELECTRICITY PROJECTIONS

(Rs. in millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Cost per month	0.250	0.263	0.276	0.289	0.304
No. of months	10	12	12	12	12
Cost per annum	2.500	3.150	3.308	3.473	3.647

Note : It is assumed that the cost of electricity will increase every year by 5%

STOCK OF WORK IN PROGRESS FOR THE YEAR

(Rs. in millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Stock of Raw Material (45 days Consumption)	12.092	25.777	30.717	33.789	38.121

STOCK OF FINISHED GOODS FOR THE YEAR

(Rs. in millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Raw Material	4.031	8.592	10.239	11.263	12.707
Stores	0.047	0.100	0.119	0.131	0.148
Wages	0.286	0.488	0.594	0.716	0.788
Electricity	0.103	0.129	0.136	0.143	0.150
	4.466	9.310	11.088	12.253	13.793

Note : The valuation is taken at 15 days expenses

ADMINISTRATION AND MARKETING EXPENSES PROJECTIONS

(Rs. in millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Marketing Expenses (Estimated at 5% of Sales)	7.942	16.427	19.576	21.533	24.294
Administration Expenses (Assumed to Increase by 10%)	3.000	3.300	3.630	3.993	4.392
Directors Salary and Allowances (Assumed to Increase by 10%)	1.200	1.320	1.452	1.597	1.757
Total	12.142	21.047	24.658	27.123	30.443

INTEREST PROJECTIONS

(Rs. in millions)

Particulars Year Ending 31^st March	2010	2011	2012	2013	2014
Term Loan	8.184	7.496	6.220	4.943	3.667
Working Capital Loan at 14.50%	2.569	2.900	2.900	2.900	2.900
Unsecured Loan at 12%	3.600	3.600	3.600	3.600	3.600
Total Interest	14.354	13.996	12.720	11.443	10.167

SISTER CONCERN AND BALANCE SHEET

ZYREX ENTERPRISES

Particulars
Name of the Assessee	M/S. Zyrex Enterprises
PAN No.	AAAFZ3422H
Status	Partnership Firm
Ownership status of the undertaking 1. Fully owned by the Assessee 2. Partly owned by the Assessee	Yes No
If yes, please specify the percentage of ownership	100%
Address :	K-2, National Mill Compound, Near Petrol Pump, S V Road, Dahisar (East), Mumbai – 400 068, Maharashtra, India Tel No.: 91-22-28489077 / 28488430 Fax No.: 91-22-28488465 E-Mail : zyrexenterprises@vsnl.net Web : www.zyrexindia.com
Section and sub-section of the IT Act, 1961 Under Which deduction being claimed	80-IB
Date of commencement of operation	15^th March 2004
Initial Assessment Year from when Deduction is being claimed.	2004-05
Address (which District and State) of the enterprise / undertaking claiming deduction.	S. No. 16/4/2/B, Behind Bhilosha Synthetic, Khanvel, Silvasa Road
Excise / Service Tax Registration Number and Office Where registered.	N.A.
Sales Tax Registration number and office where registered	26002000572/V/0101 w.e.f. 29.04.2005 BNH/CST/M0573 w.e.f. 29.04.2005 Address : As Above
Local / State authorities from whom approval is taken	Local Authorities
Development / operation / maintenance of an infrastructure facility	N.A.
Activities	Manufacturer of Wooden Articles / Tennis Court / Squash / Badminton and Other articles Job Worker, Work Contract
Fixed Assets	· Air Conditioner · Computer · Construction · At Silvassa EPBX System · Fire Extingusher · Furniture · Goodwill · Land · Machinery · Mobile Phone · Motor Car · Printer · Two Wheeler
Customers	· Arv Developers · B K Enterprises · Bhoomi Realitors · Bhoomiraj Construction · Commercial Construction · Ekta Sankalp · Ramky Infrastructure Limited
Auditors	N V Kothari and Company Chartered Accountants Address : 101, Swadesh Market Building, 2^nd Floor, 316, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India Tel No.: 91-22-28648864 / 28092758 Mobile No.: 91-9820365032
Total value of the machinery or plant used in business	Rs.2.500 millions
Number of workers employed in the manufacturing process	10 and More workers
Total Sales of the Under Taking	Rs.47.854 millions
Transactions by the undertaking concern of the assessee or, another undertaking of the assessee, or the co-owner of the undertaking, or another undertaking of the co-owner.	NIL
(Related concern is a person within meaning of section 40 A (2) (b)
Name of the related concern	Transaction (Please specify nature and amount)
A) Krishna Wood Craft	Rs.0.500 millions = (Purchase)
B) Siddharth Industries	Rs.2.533 millions = (Purchase)
C) Shivam Wood Industries	Rs.3.481 millions = (Purchase)
D) Shreeji Doors and Ply Woods	Rs.1.033 millions = (Purchase)
Profit and Gains derived by the undertaking / enterprises from the eligble business	Rs.4.911 millions
Deduction u/s. 80 IB	Rs.3.406 millions

BALANCE SHEET

SOURCES OF FUNDS		31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		14.243
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		14.243
LOAN FUNDS
1] Secured Loans		4.611
2] Unsecured Loans		0.000
TOTAL BORROWING		4.611
DEFERRED TAX LIABILITIES		0.000
TOTAL		18.854
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.325
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6.349
	Sundry Debtors	6.847
	Cash & Bank Balances	0.393
	Other Current Assets	0.595
	Loans & Advances	1.643
Total Current Assets		15.827
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	5.321
	Provisions	0.000
Total Current Liabilities		5.321
Net Current Assets		10.506
MISCELLANEOUS EXPENSES		0.023
TOTAL		18.854

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008
Sales Turnover		47.854
Other Income		0.017
Total Income		47.871
Net Profit		4.911
Expenditures :
	Cost of Goods Sold	28.458
	Direct Expenses	8.751
	Administrative Expenses	4.370
	Financial Expenses	0.235
	Indirect Expenses	0.063
	Depreciation & Amortization	1.083
Total Expenditure		42.960

KRISHNA WOOD CRAFT

Particulars
Name of the Assessee	M/S. Krishna Wood Craft
PAN No.	AAFFK3380A
Status	Partnership Firm
Ownership status of the undertaking 3. Fully owned by the Assessee 4. Partly owned by the Assessee	Yes No
If yes, please specify the percentage of ownership	100%
Address :	Survey No. 301-1, Plot No.7, Masat, Silvasa, UT.
Section and sub-section of the IT Act, 1961 Under Which deduction being claimed	80-IB
Date of commencement of operation	F.Y. 200-03
Initial Assessment Year from when Deduction is being claimed.	Asst. Year : 2003-04
Address (which District and State) of the enterprise / undertaking claiming deduction.	Survey No. 301-1, Plot No.7, Masat, Silvasa, UT.
Excise / Service Tax Registration Number and Office Where registered.	N.A.
Sales Tax Registration number and office where registered	S.T. No. – DNH-ST-3781 dated 07.11.2002 C.S.T. No.DNH-CST-3711 dated 07.11.2002
Activities	Manufacturer of Wooden Articles and Timber Products
Fixed Assets	· Air Conditioner · Computer · Construction · At Silvassa Electrical Fittings · EPBX System · Fax Machine · Fire Fighting Equipment · Furniture · Goodwill · Land · Machinery · Mobile Phone · Motor Car · Office Construction · Office Premises · Office Equipment · Printer · Two Wheeler
Customers	· Anup Paints · Cosmos Developers · Gujarat Associate · Jay Ambe Enterprises · Krishna Corporation · Ekta Development Corporation · G B Construction
Suppliers	· Hans Road Carrier · Parekh Timbers · Quality Management Consultant · Vasant Creative Catalysts · Ravechi Stationers and Printers · Magic Hardware
Auditors	N V Kothari and Company Chartered Accountants Address : 101, Swadesh Market Building, 2^nd Floor, 316, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India Tel No.: 91-22-28648864 / 28092758 Mobile No.: 91-9820365032
Total value of the machinery or plant used in business	Rs.542946/49 W.D.V. As on 31.03.2008
Number of workers employed in the manufacturing process	18 and More employees throughout the year
Total Sales of the Under Taking	Rs.61573089/50
Name of the related concern	Transaction (Please specify nature and amount)
A) Chirag S Parekh	Rs.120000 = (Rent),
B) Nilesh Parekh	Rs.180000 – (Salaries)
	Rs.120000 = (Rent)
D) Nita S Mer	Rs.73615 = (Interest)
E) Indulal R Parekh	Rs.79224 = (Interest)
F) Hansa S Parekh	Rs.126713 = (Interest)
Profit and Gains derived by the undertaking / enterprises from the eligble business	Rs.3736248/15
Deduction u/s. 80 IB	Rs.934062

BALANCE SHEET

SOURCES OF FUNDS		31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		7.177
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		7.177
LOAN FUNDS
1] Secured Loans		10.470
2] Unsecured Loans		0.893
TOTAL BORROWING		11.363
DEFERRED TAX LIABILITIES		0.000
TOTAL		18.540
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.548
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.782
	Sundry Debtors	10.019
	Cash & Bank Balances	0.145
	Other Current Assets	0.972
	Loans & Advances	0.096
Total Current Assets		16.014
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	6.022
	Provisions	0.000
Total Current Liabilities		6.022
Net Current Assets		9.992
MISCELLANEOUS EXPENSES		0.000
TOTAL		18.540

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008
Sales Turnover		61.573
Other Income		0.563
Total Income		62.136
Net Profit		4.299
Expenditures :
	Cost of Goods Sold	40.280
	Direct Expenses	6.193
	Administrative Expenses	10.386
	Depreciation & Amortization	0.978
Total Expenditure		57.837

SHREE WOOD INDUSTRIES

Particulars
Name of the Assessee	Shree Wood Industries
PAN No.	ABIFS0992A
Status	Partnership Firm
Activities	Manufacturer of Wooden Doors, Modular Kitchen Cabinet, Wooden Floorings, Furniture and other Wooden Articles
Fixed Assets	· Computer · Construction · At Silvassa Electrical Fittings and Fixture · Fax Machine · Furniture · Land · Machinery · Mobile Phone · Printer
Customers	· Achal Constructio · Amit Enterprises Housing Limited · Om Developers · R W Sawant and Company · Shree Estate Venture · S K Developers · Shree Ostwal Builders
Suppliers	· Anup Paints · Geeta Timbers · Parekh Timbers · Shree Jaliyan Wood · V N Solanki
Auditors	N V Kothari and Company Chartered Accountants Address : 101, Swadesh Market Building, 2^nd Floor, 316, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India Tel No.: 91-22-28648864 / 28092758 Mobile No.: 91-9820365032

BALANCE SHEET

SOURCES OF FUNDS		31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		3.638
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		3.638
LOAN FUNDS
1] Secured Loans		6.694
2] Unsecured Loans		1.200
TOTAL BORROWING		7.894
DEFERRED TAX LIABILITIES		0.000
TOTAL		11.532
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.512
Capital work-in-progress		0.000
INVESTMENT		0.104
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.012
	Sundry Debtors	3.877
	Cash & Bank Balances	0.289
	Other Current Assets	0.358
	Loans & Advances	0.000
Total Current Assets		8.536
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	3.620
	Provisions	0.000
Total Current Liabilities		3.620
Net Current Assets		4.916
MISCELLANEOUS EXPENSES		0.000
TOTAL		11.532

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008
Sales Turnover		14.004
Other Income		0.000
Total Income		14.004
Net Profit		0.533
Expenditures :
	Cost of Goods Sold	8.150
	Direct Expenses	3.236
	Indirect Expenses	1.462
	Financial Expenses	0.014
	Depreciation & Amortization	0.609
	Total Expenditure	13.471

SHREEJI DOORS AND PLYWOOD INDUSTRIES

BALANCE SHEET

SOURCES OF FUNDS		31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		7.158	7.897
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		7.158	7.897
LOAN FUNDS
1] Secured Loans		3.898	2.989
2] Unsecured Loans		0.000	1.681
TOTAL BORROWING		3.898	4.670
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		11.056	12.567
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.062	6.472
Capital work-in-progress		0.000	0.000
INVESTMENT		0.801	0.798
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.996	1.715
	Sundry Debtors	7.839	6.639
	Cash & Bank Balances	1.346	0.756
	Other Current Assets	0.681	0.427
	Loans & Advances	0.000	0.000
Total Current Assets		12.862	9.537
Less : CURRENT LIABILITIES & PROVISIONS
	Creditors	9.435	3.759
	Provisions	0.241	0.488
Total Current Liabilities		9.676	4.247
Net Current Assets		3.186	5.290
MISCELLANEOUS EXPENSES		0.007	0.007
TOTAL		11.056	12.567

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008	31.03.2007
Sales Turnover		41.488	32.431
Other Income		0.023	0.018
Total Income		41.511	32.449
Net Profit		1.932	0.726
Expenditures :
	Cost of Goods Sold	29.694	19.659
	Printing and Stationery	0.142	0.075
	Consumption of stores and spares parts	0.612	0.377
	Salaries, Wages, Bonus, etc.	2.721	2.173
	Audit Fees	0.025	0.039
	General Expenses	0.090	0.066
	Insurance	0.104	0.078
	Bank Interest	0.502	0.182
	Depreciation & Amortization	0.436	0.307
	Other Expenditure	5.253	8.767
Total Expenditure		39.579	31.723

SIDDHARTH INDUSTRIES

BALANCE SHEET

SOURCES OF FUNDS		31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		4.122	5.215
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		4.122	5.215
LOAN FUNDS
1] Secured Loans		5.542	2.227
2] Unsecured Loans		0.000	0.731
TOTAL BORROWING		5.542	2.958
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		9.664	8.173
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.497	4.961
Capital work-in-progress		0.000	0.000
INVESTMENT		0.164	0.135
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.817	1.870
	Sundry Debtors	11.199	5.504
	Cash & Bank Balances	0.617	0.933
	Other Current Assets	0.009	0.081
	Loans & Advances	0.000	0.000
Total Current Assets		15.642	8.388
Less : CURRENT LIABILITIES & PROVISIONS
	Creditors	10.370	4.967
	Provisions	0.269	0.344
Total Current Liabilities		10.639	5.311
Net Current Assets		5.003	3.077
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		9.664	8.173

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008	31.03.2007
Sales Turnover		34.410	33.211
Other Income		0.429	9.785
Total Income		34.839	42.996
Net Profit		2.870	5.730
Expenditures :
	Cost of Goods Sold	22.061	19.127
	Printing and Stationery	0.075	0.077
	Consumption of stores and spares parts	0.585	0.758
	Salaries, Wages, Bonus, etc.	1.041	2.661
	Audit Fees	0.025	0.028
	General Expenses	0.063	0.075
	Insurance	0.056	0.017
	Bank Charges	0.033	0.146
	Depreciation & Amortization	0.546	0.625
	Other Expenditure	7.484	13.752
Total Expenditure		31.969	37.266

WEB DETAILS

Profile

Subject, an ISO 9001:2000 certified company is one of the manufactures of superior quality wood based products, comprising of exclusively finished DOOR FRAMES, highly modern DESIGNER DOORS and SOLID WOOD FLOORING. Setting up a new benchmark in the industry, the products have enhanced the aesthetics of interior designing. Wooden Frames, Doors and Flooring are most common in antiquity and also today’s preferred choice.

They have developed the core competence in the manufacturing of high quality Decorative Doors, Frames and Flooring. The products are manufactured from different variety of quality wood, which is chemically treated and kiln seasoned as per relevant Indian standard with a state-of-art technology, skilled manpower and well developed infrastructure. The products have reached the best standard in industry, providing value and satisfaction to the customers since last Twenty Years.

Having a vast industrial experience, they have maintained the winning stride in the competition by continually upgrading the technology, addressing the needs and wants of the clients from time to time. The motto is to offer products that are of High Quality and Durable to maximize the client’s satisfaction.

Subject an organisation with two decades of experience in timber engineering and technology. An organisation that has always endeavoured to make wood based products work. Constantly upgrading technology and introducing new and better methods in production to ensure a quality which has come to be known as “SHREEJI QUALITY”. Equipped with modern, sophisticated machinery and full-fledged R and D Unit, Subject has driven the production standards to impressive levels, always making sure that get more value for the money.

A door shutter is an important building element that must possess qualities like strength, rigidity, resistance, dimensionally stable, heat insulating and durable against cyclic changes in weather, high moisture conditions, rot and other wood destroying insects. Subject manufacturers flush doors that have high standard of elegance, matching with the aesthetics of the building exteriors and interiors.

High quality wooden flush doors are therefore in great demand from discerning architects, builders and contractors. Subject Flush doors have solid blockboard core with cross band and face veneers which are bonded with the Hot Press process by using Urea Formaldehyde Resin with REBA for Boiling Water Resistant (B.W.R. Grade) and Phenol formaldehyde Resin for 100% Boiling water Proof (B.W.P. Grade)

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 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.50.52
UK Pound	1	Rs.75.08
Euro	1	Rs.63.72

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