MIRA INFORM REPORT

Report Date :

07.12.2011

IDENTIFICATION DETAILS

Name :	TCP LIMITED
Registered Office :	“TCP” Saptagiri Bhavan, New No.4 (Old No.10), Karpagambal Nagar, Luz Church Road, Mylapore, Chennai – 600 004, Tamilnadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.06.1971
Com. Reg. No.:	18- 005999
Capital Investment / Paid-up Capital :	Rs. 50.319 Millions
CIN No.: [Company Identification No.]	L24200TN1971PLC005999
TAN No.: [Tax Deduction & Collection Account No.]	CHET00143D
PAN No.: [Permanent Account No.]	AAACT3615K
Legal Form :	Public Limited Liability Company. Company’s Shares are listed on the Stock Exchange.
Line of Business :	Manufacturer of Chemical Plants and Power Plants.
No. of Employees :	100(Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (67)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 10130000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	“TCP” Saptagiri Bhavan, New No.4 (Old No.10), Karpagambal Nagar, Luz Church Road, Mylapore, Chennai – 600 004, Tamilnadu, India
Tel. No.:	91-44-24994018/ 24991518/ 24991289/24991777
Fax No.:	91-44-24992435
E-Mail :	tcpchem@eth.net chem.@tcpindia.com
Website :	www.tcpindia.com
Area :	7000 Sq ft
Location :	Owned
Factory :	Kalrai Kudai Village, Koviloor, Sivaganga, District TN – 630 307, Tamilnadu, India
Area :	25 Aq Sq ft
Location :	Owned
Power Plant:	Chennai Gupum, Pondi, Tamilnadu, India

DIRECTORS

As on 23.09.2011

Name :

Mr. Masilamani Ethurajan

Designation :

Chairman cum Managing Director

Address :

110, Radhakrishnan Salai, Mylapore, Chennai – 600 004, Tamil Nadu, India

Date of Birth/Age :

01.08.1934

Date of Appointment :

06.11.1986

DIN No.:

00041996

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U17111TN1937PLC002992	The Thirumagal Mills Limited	Whole-time director	01-01-09	01-06-83	-	Active	NO
2	L24200TN1971PLC005999	TCP Limited	Director	07-11-86	07-11-86	-	Active	NO
3	L17111TN1969PLC005736	Binny Limited	Whole-time director	09-01-08	08-07-87	-	Active	NO
4	U15531TN1982PLC009285	Mohan Breweries and Distilleries Limited	Director	20-02-88	20-02-88	-	Active	NO
5	U15421OR1990PLC002449	Orissa Sugars Limited	Director	06-03-90	06-03-90	-	Active	NO
6	U28920TN1995PLC029734	Binny Engineering Limited	Director	04-01-95	04-01-95	-	Active	NO
7	U18102TN1995PLC029737	Binny Lorze Limited	Director	04-01-95	04-01-95	-	Active	NO
8	U15421TN1995PLC029913	S.V. Sugar Mills Limited	Director	23-01-95	23-01-95	-	Active	NO
9	U15421AP1994PLC019013	Sagar Sugars and Allied Products Limited	Director	27-05-97	27-05-97	-	Active	NO
10	U51909TN1993PTC025126	Solan Minerals And Metals Private Limited	Director	05-06-03	05-06-03	-	Active	NO
11	U55101TN1987PTC014840	Artha Hotel Private Limited	Director	05-06-03	05-06-03	-	Active	NO
12	U72900TN2006PTC061654	S V Technology Solutions Private Limited	Director	05-12-06	05-12-06	-	Active	NO
13	U01115TN2007PTC062319	Tiger Farms Private Limited	Director	09-02-07	09-02-07	-	Active	NO
14	U17111TN1984PTC010920	Sriraj Mills Private Limited	Director	14-09-07	14-09-07	-	Active	NO
15	U17100TN2007PLC065226	S V Global Mill Limited	Director	30-10-07	30-10-07	-	Active	NO
16	U65191TN1983PTC009937	Srinidhi Finance Private Limited	Director	30-09-10	21-10-09	-	Active	NO

Name :

Mr. Venkatachalapat Ramasamy Venktaachalam

Designation :

Managing Director

Address :

25, Sir C. V. Raman Salai, Alwarrpet, Chennai – 600 018, Tamil Nadu, India

Date of Birth/Age :

09.04.1960

Qualification :

Graduation

Date of Appointment :

06.11.1986

DIN No.:

00037524

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U17111TN1937PLC002992	The Thirumagal Mills Limited	Director	10-06-83	10-06-83	-	Active	NO
2	L24200TN1971PLC005999	TCP Limited	Managing director	01-09-08	07-11-86	-	Active	NO
3	L17111TN1969PLC005736	Binny Limited	Director	11-01-88	11-01-88	-	Active	NO
4	U65991TN1990PLC019721	Indian Members Benefit Fund Limited	Director	09-12-90	09-12-90	29-09-07	Active	NO
5	U15531TN1982PLC009285	Mohan Breweries and Distilleries Limited	Director	28-12-90	28-12-90	-	Active	NO
6	L93090TN1969PLC040213	Arthos Breweries Limited	Director	25-05-91	25-05-91	-	Active	NO
7	U65929TN1886PLC000672	Egmore Benefit Society Limited	Director	11-08-93	11-08-93	-	Active	NO
8	U28920TN1995PLC029734	Binny Engineering Limited	Director	04-01-95	04-01-95	-	Active	NO
9	U18102TN1995PLC029737	Binny Lorze Limited	Director	04-01-95	04-01-95	-	Active	NO
10	U15421TN1995PLC029913	S.V. Sugar Mills Limited	Director	23-01-95	23-01-95	-	Active	NO
11	U33112TN1997PTC037396	Trivitron Medical Systems Private Limited	Director	06-06-00	06-06-00	-	Active	NO
12	U55101TN2001PTC046673	TCP Hotels Private Limited	Director	28-01-04	28-01-04	-	Active	NO
13	U70101TN2006PTC061539	Thirumalai Realtors Private Limited	Director	20-11-06	20-11-06	-	Active	NO
14	U70109TN2006PTC061540	Thirubalaa Realtors Private Limited	Director	20-11-06	20-11-06	-	Active	NO
15	U74999TN1995PLC029916	Golden Eagle Communications Limited	Director	23-01-07	23-01-07	-	Active	NO
16	U70101TN2007PTC062458	Mookambika Realtors Private Limited	Director	21-02-07	21-02-07	-	Active	NO
17	U45200TN2007PTC062457	Matrix Foundations Private Limited	Director	21-02-07	21-02-07	-	Active	NO
18	U70101TN2007PTC062459	Sea Breeze Realtors Private Limited	Director	21-02-07	21-02-07	-	Strike off	NO
19	U70101TN2007PTC062467	Cosy Realtors Private Limited	Director	22-02-07	22-02-07	-	Active	NO
20	U70101TN2007PTC062506	Four Square Realtors Private Limited	Director	23-02-07	23-02-07	-	Strike off	NO
21	U70101TN2007PTC063171	Bayview Realtors Private Limited	Director	19-04-07	19-04-07	-	Strike off	NO
22	U70101TN2007PTC063173	Coromandel Realtors Private Limited	Director	19-04-07	19-04-07	-	Strike off	NO
23	U70100TN2007PTC063172	Mettur Realtors Private Limited	Director	19-04-07	19-04-07	-	Strike off	NO
24	U70101TN2007PTC063180	Seapearl Realtors Private Limited	Director	19-04-07	19-04-07	-	Strike off	NO
25	U70101TN2007PTC063181	Vaigai Realtors Private Limited	Director	19-04-07	19-04-07	-	Strike off	NO
26	U85100TN2007PTC063975	Tri Cell Therapeutics Private Limited	Director	30-09-08	03-12-07	-	Active	NO
27	U17120TN2007PLC065807	Binny Mills Limited	Director	20-12-07	20-12-07	-	Active	NO

Name :

Mr. Masilamani Nandagopal

Designation :

Director

Address :

6, Rutland Gate, 6^th Street, Nungambakkam, Chennai – 600 006, Tamil Nadu, India

Date of Birth/Age :

09.06.1939

Date of Appointment :

06.11.1986

DIN No.:

00058710

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L93090TN1969PLC040213	Arthos Breweries Limited	Director	17-01-79	17-01-79	-	Active	NO
2	U15531TN1982PLC009285	Mohan Breweries And Distilleries Limited	Managing director	01-04-11	08-10-82	-	Active	NO
3	U17111TN1937PLC002992	The Thirumagal Mills Limited	Director	01-06-83	01-06-83	-	Active	NO
4	L24200TN1971PLC005999	TCP Limited	Director	07-11-86	07-11-86	-	Active	NO
5	U29299DL1987PLC029949	RRB Energy Limited	Director	14-08-89	14-08-89	-	Active	NO
6	U15421OR1990PLC002449	Orissa Sugars Limited	Director	06-03-90	06-03-90	31-01-09	Active	NO
7	U15500MH1970PLC014512	Mohan Rocky Spring Water Breweries Limited	Director	20-03-90	20-03-90	-	Active	NO
8	U22121TN1982PLC009530	Mira Textiles and Industries (India) Limited	Director	19-01-93	19-01-93	-	Active	NO
9	U28920TN1995PLC029734	Binny Engineering Limited	Director	22-01-95	22-01-95	-	Active	NO
10	U15421TN1995PLC029913	S.V. Sugar Mills Limited	Director	23-01-95	23-01-95	-	Active	NO
11	U74999TN1995PLC029916	Golden Eagle Communications Limited	Director	23-01-95	23-01-95	01-09-08	Active	NO
12	L17111TN1969PLC005736	Binny Limited	Director	23-03-96	23-03-96	-	Active	NO
13	U15421AP1994PLC019013	Sagar Sugars and Allied Products Limited	Director	29-06-07	27-05-97	18-10-11	Active	NO
14	U15512DL2002PTC116353	Prudent Breweries and Distilleries Private Limited	Director	29-07-02	29-07-02	-	Active	NO
15	U15520TN2003PLC051263	Meakin Alco Beverages Limited	Director	23-07-03	23-07-03	23-08-07	Active	NO
16	U15510DL1998PLC097537	Bhankerpur Distilleries Limited	Director	21-05-04	21-05-04	-	Active	NO
17	L15520HP1934PLC000135	Mohan Meakin Limited	Director	30-10-04	30-10-04	-	Active	NO
18	U74999TN2005PLC055668	D1 Mohan Bio Oils Limited	Director	28-09-07	15-03-05	-	Active	YES
19	U70101TN2006PLC060776	Doric Real Estate Limited	Director	28-07-06	28-07-06	01-09-08	Active	NO
20	U45201DL2005PTC134382	Renaissance Buildcon Company Private Limited	Director	22-09-06	17-08-06	22-02-07	Active	NO
21	U72900DL2007PTC171787	Udaan Infotech Private Limited	Director	26-12-07	26-12-07	11-10-08	Strike off	NO
22	U60230TN2009PLC071689	Binny CFS Limited	Director	21-05-09	21-05-09	-	Active	NO

Name :

Mr. Arunachalam Sellamuthu Thillainayagam

Designation :

Director

Address :

27^th Street, Gopalapuram, Chennai – 600 086, Tamil Nadu, India

Date of Birth/Age :

17.02.1952

Date of Appointment :

30.12.1987

DIN No.:

00951729

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U15531TN1982PLC009285	Mohan Breweries and Distilleries Limited	Director	19-03-82	19-03-82	-	Active	NO
2	L24200TN1971PLC005999	TCP Limited	Director	30-12-87	30-12-87	-	Active	NO
3	U65991TN1990PLC019721	Indian Members Benefit Fund Limited	Director	09-12-90	09-12-90	29-09-07	Active	NO
4	U65929TN1886PLC000672	Egmore Benefit Society Limited	Director	30-09-03	30-09-03	-	Active	NO
5	U24231TN2005PTC056197	Photon Enterprises Private Limited	Director	06-05-05	06-05-05	-	Active	NO
6	U70100TN2007PTC062526	Axon Property Developers Private Limited	Director	27-02-07	27-02-07	-	Active	YES
7	U45200TN2007PTC062527	Axon Constructions Private Limited	Director	27-02-07	27-02-07	21-09-09	Active	NO

Name :

Mr. Masilamani Shanmugam Ethirajan

Designation :

Director

Address :

110, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004, Tamil Nadu, India

Date of Birth/Age :

14.04.1967

Date of Appointment :

31.03.1988

DIN No.:

00041968

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U17111TN1984PTC010920	Sriraj Mills Private Limited	Director	30-09-87	30-09-87	-	Active	NO
2	L24200TN1971PLC005999	TCP Limited	Director	31-03-88	31-03-88	-	Active	NO
3	U17111TN1937PLC002992	The Thirumagal Mills Limited	Managing director	06-04-11	27-05-88	-	Active	NO
4	U15531TN1982PLC009285	Mohan Breweries and Distilleries Limited	Director	28-12-90	28-12-90	-	Active	NO
5	L17111TN1969PLC005736	Binny Limited	Director	31-03-93	31-03-93	-	Active	NO
6	U51909TN1993PTC025126	Solan Minerals And Metals Private Limited	Director	27-05-93	27-05-93	-	Active	NO
7	U55101TN1987PTC014840	Artha Hotel Private Limited	Director	05-06-93	05-06-93	-	Active	NO
8	U15421TN1995PLC029913	S.V. Sugar Mills Limited	Managing director	01-10-09	23-01-95	-	Active	NO
9	U28920TN1995PLC029734	Binny Engineering Limited	Director	29-09-98	29-09-98	-	Active	NO
10	U72900TN2006PTC061654	S V Technology Solutions Private Limited	Director	05-12-06	05-12-06	-	Active	NO
11	U01115TN2007PTC062319	Tiger Farms Private Limited	Director	09-02-07	09-02-07	-	Active	NO
12	U17100TN2007PLC065226	S V Global Mill Limited	Director	30-10-07	30-10-07	-	Active	NO
13	U18102TN1995PLC029737	Binny Lorze Limited	Additional director	30-08-08	30-08-08	-	Active	NO
14	U65191TN1983PTC009937	Srinidhi Finance Private Limited	Director	30-09-10	21-10-09	-	Active	NO
15	U45201TN1950PTC000038	Adyar Property Holding Company Private Limited	Director	28-03-11	28-03-11	-	Active	NO

Name :

Mr. Vaithinathan Rajasekaran

Designation :

Director

Address :

Plot 499, 4^th Sector, 18^th Street, K. K. Nagar, Chennai – 600 078, Tamil Nadu, India

Date of Birth/Age :

06.11.1952

Qualification :

M.Tech, MBA

Date of Appointment :

01.03.1992

DIN No.:

00037006

.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L24200TN1971PLC005999	TCP Limited	Whole-time director	01-03-92	01-03-92	-	Active	NO
2	U52321TN1987PTC014326	Tanchem Imports and Exports Private Limited	Director	01-03-02	01-03-02	-	Active	NO
3	U65929TN1886PLC000672	Egmore Benefit Society Limited	Director	07-03-03	07-03-03	-	Active	NO
4	U55101TN2001PTC046673	Tcp Hotels Private Limited	Director	28-01-04	28-01-04	-	Active	NO
5	L17111TN1969PLC005736	Binny Limited	Director	25-03-05	25-03-05	30-04-09	Active	NO
6	U01111TN2006PTC060513	Radi Enterprises Private Limited	Director	01-11-06	01-11-06	-	Active	NO
7	U17120TN2007PLC065807	Binny Mills Limited	Managing director	12-05-10	20-12-07	-	Active	NO

Name :

Mr. Aravind Nandagopal

Designation :

Director

Address :

6, Rutland Gate, 6^th Street, Chennai – 600 006, Tamil Nadu, India

Date of Birth/Age :

06.04.1975

Date of Appointment:

14.06.1995

DIN No.:

00059009

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U15421TN1995PLC029913	S.V. Sugar Mills Limited	Director	23-01-95	23-01-95	-	Active	NO
2	U74999TN1995PLC029916	Golden Eagle Communications Limited	Director	23-01-95	23-01-95	31-01-09	Active	NO
3	L24200TN1971PLC005999	TCP Limited	Director	14-06-95	14-06-95	-	Active	NO
4	U15531TN1982PLC009285	Mohan Breweries and Distilleries Limited	Whole-time director	06-05-07	12-07-95	-	Active	NO
5	U17111TN1937PLC002992	The Thirumagal Mills Limited	Director	05-08-95	05-08-95	-	Active	NO
6	U15421AP1994PLC019013	Sagar Sugars and Allied Products Limited	Managing director	25-07-07	27-05-97	-	Active	NO
7	U15520TN2003PLC051263	Meakin Alco Beverages Limited	Director	23-07-03	23-07-03	31-01-09	Active	NO
8	L17111TN1969PLC005736	Binny Limited	Director	25-03-05	25-03-05	-	Active	NO
9	U15421OR1990PLC002449	Orissa Sugars Limited	Director	18-04-05	18-04-05	-	Active	NO
10	L65993TN1994PLC026665	Mother Mira Industries Limited	Director	01-07-05	01-07-05	-	Active	NO
11	U15510DL1998PLC097537	Bhankerpur Distilleries Limited	Director	30-09-06	13-06-06	-	Active	NO
12	U70101TN2006PLC060776	Doric Real Estate Limited	Director	28-07-06	28-07-06	31-01-09	Active	NO
13	U01402TN2007PLC065441	Mohan Microbes Limited	Director	20-11-07	20-11-07	-	Strike off	NO
14	U15424DL2007PTC171096	Magnum Sugars and Allied Products Private Limited	Director	05-12-07	05-12-07	01-09-10	Active	NO
15	U72200DL2005PTC133250	SM IT Services Private Limited	Director	01-10-08	01-10-08	-	Active	NO
16	U40104TN2008PLC069987	Nandha Energy Limited	Director	25-11-08	25-11-08	-	Active	NO
17	U70102TN2009PLC071385	Nandha Developers Limited	Director	21-04-09	21-04-09	-	Active	NO
18	U60200TN2009PLC071388	Nandha Logistics Limited	Director	21-04-09	21-04-09	-	Active	NO
19	U26100TN2009PLC071453	Nandha Glass Limited	Director	24-04-09	24-04-09	-	Active	NO
20	U60230TN2009PLC071689	Binny CFS Limited	Director	21-05-09	21-05-09	-	Active	NO

Name :

Mr. Natrajan Nandagopal

Designation :

Director

Address:

6, Rutland Gate, 6^th Street, Nungambakkam Chennai-600006, Tamilnadu, India

Date of Birth/Age :

21.12.1968

Date of Appointment:

14.08.1995

DIN No.:

00058969

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U17111TN1937PLC002992	The Thirumagal Mills Limited	Director	04-08-93	04-08-93	-	Active	NO
2	U15531TN1982PLC009285	Mohan Breweries and Distilleries Limited	Director	01-04-11	15-09-93	-	Active	NO
3	L24200TN1971PLC005999	TCP Limited	Director	14-08-95	14-08-95	-	Active	NO
4	U15421AP1994PLC019013	Sagar Sugars and Allied Products Limited	Director	27-05-97	27-05-97	18-10-11	Active	NO
5	U15520TN2003PLC051263	Meakin Alco Beverages Limited	Director	23-07-03	23-07-03	15-03-09	Active	NO
6	L93090TN1969PLC040213	Arthos Breweries Limited	Director	01-04-11	30-10-04	-	Active	NO
7	U74999TN2005PLC055668	D1 Mohan Bio Oils Limited	Director	15-03-05	15-03-05	31-01-09	Active	YES
8	L17111TN1969PLC005736	Binny Limited	Director	25-03-05	25-03-05	30-04-09	Active	NO
9	L65993TN1994PLC026665	Mother Mira Industries Limited	Director	01-07-05	01-07-05	06-08-09	Active	NO
10	U15510DL1998PLC097537	Bhankerpur Distilleries Limited	Director	30-09-06	13-06-06	-	Active	NO
11	U70101TN2006PLC060776	Doric Real Estate Limited	Director	28-07-06	28-07-06	-	Active	NO
12	U01402TN2007PLC065441	Mohan Microbes Limited	Director	20-11-07	20-11-07	-	Strike off	NO
13	U40104TN2008PLC069987	Nandha Energy Limited	Director	25-11-08	25-11-08	-	Active	NO
14	U70102TN2009PLC071385	Nandha Developers Limited	Director	21-04-09	21-04-09	-	Active	NO
15	U60200TN2009PLC071388	Nandha Logistics Limited	Director	21-04-09	21-04-09	-	Active	NO
16	U26100TN2009PLC071453	Nandha Glass Limited	Director	24-04-09	24-04-09	-	Active	NO
17	U60230TN2009PLC071689	Binny CFS Limited	Director	21-05-09	21-05-09	-	Active	NO

Name :

Mr. Sengutuvan Venkataachalam

Designation :

Director

Address:

Old No. 25, New No.24, Sir C.V. Raman Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

07.12.1986

Date of Appointment:

26.08.2009

DIN No.:

00053629

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U17111TZ1980PTC000953	Thiruvalluvar Textiles Private Limited	Managing director	01-06-09	01-12-05	-	Active	NO
2	U65991TN1990PLC019721	Indian Members Benefit Fund Limited	Director	29-09-07	29-09-07	-	Active	NO
3	U70101TN2007PTC062467	Cosy Realtors Private Limited	Director	01-06-09	01-06-09	-	Active	NO
4	U70101TN2007PTC062506	Four Square Realtors Private Limited	Director	01-06-09	01-06-09	-	Strike off	NO
5	U45200TN2007PTC062457	Matrix Foundations Private Limited	Director	01-06-09	01-06-09	-	Active	NO
6	U70101TN2007PTC063171	Bayview Realtors Private Limited	Director	01-06-09	01-06-09	-	Strike off	NO
7	U70101TN2007PTC063180	Seapearl Realtors Private Limited	Director	01-06-09	01-06-09	-	Strike off	NO
8	U17120TN2007PLC065807	Binny Mills Limited	Director	01-06-09	01-06-09	-	Active	NO
9	U70101TN2007PTC063173	Coromandel Realtors Private Limited	Director	01-06-09	01-06-09	-	Strike off	NO
10	U70101TN2007PTC062458	Mookambika Realtors Private Limited	Director	01-06-09	01-06-09	-	Active	NO
11	U70101TN2007PTC062459	Sea Breeze Realtors Private Limited	Director	01-06-09	01-06-09	-	Strike off	NO
12	U70101TN2007PTC063181	Vaigai Realtors Private Limited	Director	01-06-09	01-06-09	-	Strike off	NO
13	U70101TN2006PTC061539	Thirumalai Realtors Private Limited	Director	01-06-09	01-06-09	-	Active	NO
14	U55101TN2001PTC046673	TCP Hotels Private Limited	Director	01-06-09	01-06-09	-	Active	NO
15	U70109TN2006PTC061540	Thirubalaa Realtors Private Limited	Director	01-06-09	01-06-09	-	Active	NO
16	U70100TN2007PTC063172	Mettur Realtors Private Limited	Director	01-06-09	01-06-09	-	Strike off	NO
17	U52321TN1987PTC014326	Tanchem Imports and Exports Private Limited	Director	01-06-09	01-06-09	-	Active	NO
18	L24200TN1971PLC005999	TCP Limited	Director	26-08-09	26-08-09	-	Active	NO
19	U17111TZ1955PTC000122	The Narasimha Mills Private Limited	Managing director	16-03-10	16-03-10	-	Active In Progress	NO

KEY EXECUTIVES

Name :	Mr. Aravamuthan Sampath
Designation :	Secretary and General Manager (P and A)
Address :	B-8, Bharani Apartments, 3/5, Sheela Nagar, first Street, Madipakkam, Chennai – 600091, Tamilnadu, India
Date of Birth/Age :	15.03.1938
Date of Appointment :	19.07.1976
Pan No.:	ASGPS8698J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2011

Names of Shareholders	No. of Shares
Vaithinathan Rajasekaran	2250
Venkatachalapathy Ramasamy Venkataachalam	1519570
Masilamani Shanmugam Ethirajan	1024503
Masilamani Ethurajan	25000
Sengutuvan Venkataachalam	361764

Equity Share Break up (Percentage of Total Equity)

As on 23.09.2011

Category	Percentage
Bodies corporate	2.00
Directors or relatives of Directors	75.00
Other top fifty shareholders	23.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Chemicals and Power Plants.

Products :

· Sodium Hydrosulphite

· Liquid Sulphur Di-Oxide

· Sodium Formaldehyde Sulphoxylate - Product Data – Tangolite

Product Description	ITC Code
Sodium Hydrosulphite	28321002.00
Liquid Sulphur Dioxide	28112300.00
Sodium Formal Dehyde Sulphoxylate	28311002.00
Zinc Formal Dehyde Sulphoxylate	28319092.00
Generation of Power	271600.00

PRODUCTION STATUS

As on 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Sodium Hydrosulphite	Tonnes	10000	10000	9806
Liquid Sulphur Di- oxide	Tonnes	4950	4950	8923
Sulphox Ilates	Tonnes	2000	2000	132

GENERAL INFORMATION

No. of Employees :

100 (Approximately)

Bankers :

• State Bank of India, Commercial Branch, 232, N.S.C. Bose Road, Chennai – 600001, Tamilnadu, India
• Indian Overseas Bank, Commercial and Institutional Credit Branch, 98-A, Dr. Radhakrishnan Salai, Mylapore, Chennai-600 004, Tamilnadu, India
• HDFC Bank

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Banks
Cash Credit Account	308.923	375.337
Bill Discounting	3.300	0.000
Term Loan	0.000	0.000
State Bank of India	128.140	355.000
HDFC Bank	33.529	0.000
State Bank of India (Projects)	84.137	0.000
State Bank of India (FCNR)	298.297	0.000
Indian Overseas Bank	0.000	66.667
Total	856.326	797.004
Note: Secured by the Hypothecation of raw materials, stores and spares, work-in-process, finished goods and book debts including specific documentary bills ands second charge by way of Equitable Mortgage on the fixed assets of Chemicals, power and biomass divisions. Secured by the Hypothecation/ Equitable Mortgage of the whole of specific immovable properties including movable plant and machinery and other fixed assets pertaining to Chemicals, Power and Biomass division on pari passu basis and pari passu second charge on the Current Assets of Chemical, Power and Biomass Division and exclusive charge on Wind Mills to SBI.
Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Fixed Deposit	103.436	64.672
Directors’/ Promoters’ Contribution	91.218	76.965
Inter Corporate Deposit	29.500	79.500
Industrial Development Bank of India (includes amount received from directors Rs. 0.037 Millions)	100.000	0.000
Total	324.154	221.137

Banking Relations :	--
Auditors :
Name :	T. Selvaraj and Company   Chartered Accountants
Address :	32, Dewan Rama Road, Purasawalkam, Chennai – 600084, Tamilnadu, India
PAN.:	AAAFT0425E
Memberships :
Associates :	Tenchem Import and Export Private Limited Thiruvalluvaar Textiles Private Limited Binny Limited Binny Engineering Limited Mohan Breweries and Distilleries Limited
Subsidiary :	Viceroy Chennai Hotels Private Limited TCP Hotel Private Limited Cin No.: U55101TN2001PTC046673

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
11750000	Equity Shares	Rs.10/- each	Rs. 117.500 Millions
25000	11% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 2.500 Millions
	TOTAL		Rs. 120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5031909	Equity Shares	Rs.10/- each	Rs. 50.319 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		50.319	50.319	50.319
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2481.919	2255.988	1673.936
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2532.238	2306.307	1724.255
LOAN FUNDS
1] Secured Loans		856.326	797.004	1072.736
2] Unsecured Loans		324.154	221.137	139.993
TOTAL BORROWING		1180.480	1018.141	1212.729
DEFERRED TAX LIABILITIES		56.385	0.000	7.982
TOTAL		3769.103	3324.448	2944.966
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1211.394	999.629	1097.525
Capital work-in-progress		26.644	6.665	15.945
INVESTMENT		1181.634	1181.635	957.128
DEFERREX TAX ASSETS		0.000	8.129	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	539.473	348.778	408.310
	Sundry Debtors	821.017	1052.866	318.734
	Cash & Bank Balances	52.753	4.699	3.029
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	913.265	709.058	851.816
Total Current Assets		2326.508	2115.401	1581.889
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	614.883	558.903	533.721
	Other Current Liabilities	180.797	247.002	78.751
	Provisions	181.397	181.106	95.049
Total Current Liabilities		977.077	987.011	707.521
Net Current Assets		1349.431	1128.390	874.368
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3769.103	3324.448	2944.966

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	2528.384	2926.060	1956.786
		Other Income	47.720	29.300	89.810
		TOTAL (A)	2576.104	2955.360	2046.596
Less	EXPENSES
		Raw Material Consumed	1473.882	1722.313	1319.953
		Manufacturing, Administrative and Selling Expenses	521.064	392.121	313.415
		Increase/ Decrease in Closing Stock	24.443	(6.327)	24.468
		TOTAL (B)	2019.389	2108.107	1657.836
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		556.715	847.253	388.760
Less	FINANCIAL EXPENSES (D)		86.306	124.096	124.612
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		470.409	723.157	264.148
Less/ Add	DEPRECIATION/ AMORTISATION (F)		121.971	117.824	126.066
	PROFIT BEFORE TAX (E-F) (G)		348.438	605.333	138.082
Less	TAX (H)		105.146	1.033	5.374
	PROFIT AFTER TAX (G-H) (I)		243.292	604.300	132.709
Less	MAT Credit Entitlement related to earlier year		(0.287)	4.574	0.000
	Tax Related to Earlier Year		(0.014)	0.012	2.138
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		667.126	145.074	92.164
Less	APPROPRIATIONS
		Transfer to General Reserve	100.000	60.000	60.000
		Proposed Dividend	15.096	15.096	15.096
		Tax on Dividend	2.566	2.566	2.565
	BALANCE CARRIED TO THE B/S		793.057	667.126	145.074
	EARNINGS IN FOREIGN CURRENCY		64.210	148.153	47.858
	IMPORTS
		Raw Materials	675.582	145.152	107.822
		Stores & Spares	5.979	6.136	0.058
	TOTAL IMPORTS		681.561	151.288	107.880
	Earnings Per Share (Rs.)		48.00	119.00	26.00

QUARTERLY / SUMMARISED RESULTS

PARTICULARS	30.06.2010	30.09.2010	31.12.2010	30.06.2011	30.09.2011
Net Sales	618.400	416.890	434.870	740.970	787.090
Total Expenditure	445.960	368.230	394.400	542.070	587.930
PBIDT (Excl OI)	172.440	48.660	40.470	198.900	199.160
Other Income	0.000	0.000	0.000	0.000	0.000
Operating Profit	172.440	48.660	40.470	198.900	199.160
Interest	17.360	14.810	24.790	25.640	34.990
Exceptional Items	0.000	0.000	0.000	0.000	0.000
PBDT	155.080	33.850	15.680	173.260	164.170
Depreciation	36.310	36.800	47.480	39.670	38.810
Profit Before Tax	118.770	(2.950)	(31.790)	133.590	125.370
Tax	56.780	(19.660)	(14.080)	20.500	18.750
Provisions and contingencies	0.000	0.000	0.000	0.000	0.000
Profit After Tax	61.990	16.710	(17.710)	113.090	106.620
Extraordinary Items	0.000	0.000	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000	0.000	0.000
Net Profit	61.990	16.710	(17.710)	113.090	106.620

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	9.44	20.49	6.48
Net Profit Margin (PBT/Sales)	(%)	13.78	20.69	7.06
Return on Total Assets (PBT/Total Assets}	(%)	9.85	19.43	5.15
Return on Investment (ROI) (PBT/Networth)		0.14	0..26	0.08
Debt Equity Ratio (Total Liability/Networth)		0.85	0.86	1.11
Current Ratio (Current Asset/Current Liability)		2.38	2.14	2.24

LOCAL AGENCY FURTHER INFORMATION

BUSINESS DESCRIPTION

Established in 1971, Subject us one of the leading manufacturers and suppliers of sodium hydrosuiphite in India. The company markets and distributes a range of liquid sulphur dioxide, zinc hydroxide and sodium formaldehyde sulphoxylate. It also undertakes a number of projects to erect and commission wind-, coal- and biomass-based power projects. In addition, the company supplies sodium hydrosulphite to the food processing, ceramic, pharmaceutical, paper, clay, soap, leather, textile and sugar industries. It also exports chemical products to several European and American countries.

CONTINGENT LIABILITIES

(a) Letter of Credit opened by banks for purchase of raw materials Rs. 413.279 Millions (Previous Year of Rs. 236.286 Millions)

(b) Estimated amount of Contracts remaining to be executed on Capital Account and not provided for Rs. 139.155 millions (2009- Rs. 0.563 Millions)

(c) Guarantee given by the company on behalf of other company Rs. 19.021 Millions (2009- Rs. 18.765 Millions)

(d) Excise Duty Rs. 808.000 Millions (2009- Rs. 1.301 Millions) for which the company has preferred as appeal before the appellate authorities and its pending. Out of this a sum of Rs. 0.240 millions (Rs. 0.042 millions) has been paid under protest

(e) Service Tax Rs. Nil (2009- Rs. 0.050 Millions) for which the company has preferred an appeal before the appellate authority and its pending.

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2011

(Rs in Millions)

Particulars	30.06.2011 (Unaudited	30.09.2011 (Audited)	31.03.2011 (Unaudited)
a)Net Sales / Income from Operations	719.250	609.303	2064.740
b)Operating Income (Net)	21.718	9.091	247.095
Total Income(1+2)	740.968	618.394	2311.835
Expenditure
A Increase)/Decrease in stock in trade	(5.775)	(3.070)	(11.370)
B Consumption of Raw materials	432.982	351.277	1315.227
C Employees cost	29.032	25.692	121.030
D Depreciation	39.673	36.306	167.670
E Other expenditure	85.830	72.063	365.311
F Total	581.742	452.268	1957.868
Profit from Operations before Other Income,Interest & Exceptional Items(1-2)	159.226	136.126	353.967
Other Income
Profit before Interest & Exceptional Items(3+4)	133.588	136.126	353.967
Interest	25.638	17.360	82.400
Profit after Interest but before Exceptional Items(5-6)	133.588	118.766	271.567
Exceptional Items	0.000	0.000	0.000
Profit (+) / Loss (-) from ordinary Activities before tax (7 +8)	133.588	118.766	271.567
Profit (+) / Loss (-) from ordinary Activities before tax (7 +8)	20.496	56.775	67.154
Tax Expense	113.092	61.991	204.413
Net Profit (+) / Loss (-) from ordinary activities after tax (9-10)
Extraordinary Items (Net of tax expense Rs.)	0.000	0.000	0.000
Net Profit (+) / Loss (-) for the period (11-12)	113.092	61.991	204.413
Paid up equity share capital (Face value Rs 10/- per share)	50.319	50.319	50.319
Reserves excluding revaluation reserves (as per balance sheet of previous acctg year)	0.000	0.000	0.000
Earnings Per Share (E P S)
a. Basic and diluted EPS before Extra Ordinary Items for the period, for the year to date and for the previous year ( Not Annualised)	22.48	12.32	40.62
b. Basic and diluted EPS after Extra Ordinary Items for the period, for the year to date and for the previous year ( Not Annualised)	22.48	12.20	40.62
Public Shareholding
- Number of Shares	1272988	1272988	1272988
- Percentage of Shareholding	25.30	25.30	25.30
Promoters and Promoter group Shareholding
a. Pledged / Encumbered
- Number of Shares	--	--	--
- Percentage of Shares	--	--	--
b. Non-encumbered
- Number of Shares	3758921	3758921	3758921
- Percentage of Shares	74.70	74.70	74.70

Notes:

1. The Net Profit for the present quarter shown above is inclusive of Profit derived from Generation of Power Biomass plant which is eligible for deduction to the extent provided under Sec 80IA of the Income Tax, 1961
2. The above   statement was approved at the meeting of the Board of Directors held on 29.07.2011.
3. The Segment report has been prepared in accordance with the Accounting Standard 17 "Segment Reporting"
4. During the quarter, no complaints were received from shareholders and there are no complaints pending as of date.
5. The Audit Committee has reviewed the results and recommended for board approval.
6. The above financial statements are subject to Limited review by the Statutory Auditors of the Company.
7. None of the Shares of the Promoters have been pledged

STATEMENT OF SEGMENT WISE QUARTERLY RESULTS

(Rs in Millions)

Particulars	30.06.2011 (Unaudited	30.09.2011 (Audited)	31.03.2011 (Unaudited)
1 Segment Revenue
Chemical Divison	167.482	124.068	555.353
Power Divison	518.100	415.512	1499.814
Biomass Division	47.706	66.442	211.006
Windmill Division	23.376	19.428	98.602
Others	1.529	0.849	4.021
Unallocated
Total	758.193	626.299	2368.796
Less : Inter Segment Revenue Net Sales/Income From Operations	17.224	7.905	56.961
Total	740.969	618.394	2311.835
2 Segment Results
Chemical Divison	(7.262)	(8.302)	(40.129)
Power Divison	163.176	130.482	382.213
Biomass Division	1.597	13.960	6.973
Windmill Division	1.077	0.016	4.961
Others	6.380	(0.029)	(0.051)
Unallocated
Total	159.226	136.126	353.966
Less : I : Interest	25.638	17.360	52.400
II : Other Unallocable Expenditure W/off	--	--	--
III: Unallocable Income	--	--	--
Total Profit Before Tax	133.588	118.766	271.566
3 Capital Employed
Chemical Divison	1715.539	1669.899	1659.885
Power Divison	321.769	66.183	235.146
Biomass Division	329.301	307.760	344.107
Windmill Division	470.364	500.911	484.185
Others	36.657	36.408	36.192
Unallocated
Total	2873.630	2581.161	2759.515

FIXED ASSETS:

• Land
• Leasehold Land
• Leasehold Building
• Building
• Plant and Machinery
• Water Supply Works
• Computers
• Office Equipments
• Miscellaneous Equipments
• Furniture and Fittings
• Vehicles

WEBSITE DETAILS:

PROMOTERS OF THE COMPANY

Subject was incorporated on 8th June 1971, as a Joint Sector Unit, with the Tamil Nadu Industrial Development Corporation Limited (TIDCO).

In pursuance to the decision of the State Government to disinvest the shares of the Joint Sector Unit held by TIDCO, in favour of private promoters, the shares of the company were disinvested by TIDCO Limited, in favour of the Udayar Group, with effect from 7th November 1986.

PRODUCTS, CAPACITY AND TECHNICAL KNOW HOW

The company has set up its Plant for the manufacture of 4600 MT’s (re endorsed from 3300 tonnes) of Sodium Hydrosulphite (SHS), with the technical Know-how from the Mitsubishi Corporation of Japan, through the unique Sodium Formate Route, adopted for the first time in India. The plant is located at Karaikudi, a notified backward area, in Tamil Nadu state.

The product, Viz., Sodium Hydrosulphite, has a very wide application in the industries like Textiles, Jaggery, Pharmaceuticals and Ceramics.

The Company has also set up a Plant for the manufacture of 4950 MT’s of Liquid Sulphur Dioxide, as a captive plant, for the supply of Liquid Sulphur Dioxide for the manufacture of Sodium Hydrosulphite (SHS), with the technical Know-how from M/s Garbato Implanti Chimici s.r.l. Milano, Italy.

The company has also put up an additional Sulphur Dioxide Plant for the supply of Sulphur Dioxide to Refineries and also to augment the supplies for the production of Sodium Hydrosulphite.

The company has consistently achieved higher capacity utilization, which is unique in any chemical industry.

PROJECT COST AND FINANCING

The project was implemented at a project cost of about Rs.80.000 Millions. The commercial production commenced on 1st October 1978.

The project was initially financed by the All India Central Financial Institutions by way of Equity participation, private placement of debentures, and a Term Loan assistance of Rs.52.000 Millions, with a share capital of Rs.19.272 Millions, which included Cumulative Redeemable Preference Shares of Rs.2.500 Millions. The Company has fully repaid the institutional Term loan assistance of Rs.52.000 Millions and has also redeemed the Cumulative

Redeemable Preference Shares of Rs.2.500 Millions, within the time limit prescribed for redemption. The company has obtained the central subsidy for setting up the Plant in a notified backward area.

PRODUCT APPLICATIONS

The product has got application in the following industries:

a) Textile: As reducing agent or Dyeing Auxiliary in Vat Dyeing.

b) Food: As a preservative

c) Sugar/Jaggery: For purification as a Bleaching Agent in the removal of organic and other impurities.

d) Pharmaceutical: As a Bleaching Agent in the manufacture of certain Antibiotics and Analgesics.

e) Paper: Used as a Bleaching Agent in paper and pulp industry.

f) Clay: Bleaching of clay for removing iron impurities.

g) VAT: Manufacture of Vat Dyes.

h) Soap: Bleaching of Crude Soap.

i) Tanning of Leather: Used as a “Reducing Agent” in the preparation of Chrome Tanned Leather.

MARKET

The Sodium Hydrosulphite manufactured by the company is being marketed throughout the country. In view of the unique manufacturing process adopted by the company, as compared to the process adopted by the competitors, the quality of the product manufactured by the company is superior when compared to the products of the competitors. Thus, the product manufactured by the company is widely acclaimed as the best and is readily accepted in both the Indigenous and the International markets.

ISO 9002

The company has been granted ISO 9002 Quality System Certificate by DET NORSKE VERITAS, Netherlands. The company has also been given ISO 14001 (Environment Management System) for its Power Plant.

EXPORT

The company is exporting its products to France, Spain, Italy, Germany, U.K., Netherlands, U.S.A., and Indonesia and is earning valuable foreign exchange. Considering the presence of multinational giants in the aforesaid countries, marketing similar products, the consistent export performance by the company is a significant achievement by the company and is a testimony to the quality of its product

NEW PROJECTS COMMISSIONED

SODIUM FORMALDEHYDE SULF OXYLATE PLANT (TANGOLITE)

The company has set up a Plant for manufacture of Sodium Formaldehyde Sulf Oxylate, each of 500 tonnes capacity, per annum. The Sodium Formaldehyde Sulf Oxylate Plant was commissioned in March 1991.

The plant was set up at a cost of Rs.20.000 millions by availing finance from the Industrial Credit and Investment Corporation of India Ltd. (ICICI) through Buyers Line of Credit. This was duly repaid in full by March ’96.

The product has been well received in the market and is comparable to similar products available in the market. It is being marketed, throughout the country, under the brand name of ‘Tangolite’.

WIND MILL PROJECT

The company has set up 12 Wind Electric Generators of 225 KW each, at Kayathar, in Thirunelveli District, in Tamil Nadu, with the financial assistance of Rs.20.000 Millions from the Industrial Development Bank of India (IDBI) and Rs.68.000 millions from the Indian Renewable Energy Development Agency Ltd. (IREDA). All the 12 windmills have been duly installed and commissioned and the energy generated has been drawn for our factory at Karaikudi.

The company has also set up 7 Wind Electric Generators of 500 KW each, at Palladam Taluk, in Coimbatore District, in Tamil Nadu, at a cost of about Rs.200.000 Millions, with the financial assistance of Rs. 144.500 millions from the IndusInd Bank Limited and Rs.55.000 millions from internal accrual.

The company has also set up 6 Wind Electric Generators of 500 KW each, at Thenkasi Taluk, in Thirunelveli District, in Tamil Nadu, at a cost of Rs.200.000 millions, financed from internal accrual.

EXPANSION OF SODIUM HYDROSULPHITE PLANT CAPACITY

The company has expanded the capacity of the Hydrosulphite Plant (SHS) from 4600 tonnes (re-endorsed) to 8500 tonnes per annum by adding filter dryer and other balancing equipments. The company has, out of its own internal accruals, successfully expanded the existing capacity. Due to consistent R and D efforts carried out by the company, the company was able to increase the yield per batch and consequently was able to achieve higher production.

ZINC FORMALDEHYDE SULPHOXYLATE (TANGOLIN)

The company has, by its R and D efforts, successfully commissioned the Zinc Formaldehyde Sulphoxylate Plant out of the funds from its internal generation and has been marketing its new product under the brand name ‘Tangolin’. The licensed capacity of the Plant is 500 tonnes per annum.

EXPANSION OF THE SODIUM FORMALDEHYDE SULPHOXYLATE PLANT (TANGOLITE)

The company has also expanded the production capacity of the existing Sodium Formaldehyde Sulphoxylate plant from 500 tonnes and has been marketing the same.

TRISALT AND DRUM PLANT

As a part of backward integration, the company, by its R and D efforts, has been successful in identifying three salts, viz., Sodium Formate, Sodium Sulphate and Sodium Thio Sulphate out of the company’s effluent discharge thereby reducing the effluent almost to a zero level. These trisalts are being marketed and has value addition and is being used in leather, paper and photographic industries.

DRUM PLANT

The company has set up a Drum Plant to meet its own packing requirements of Hydrosulphite, Tangolin and Tangolite, which has, to a certain extent, reduced the cost of packing.

63.5 MW COAL BASED POWER PLANT

Background

The company had identified a 63.5 MW new, but unused, Coal Fired Power Plant in South Africa. This plant was supplied and erected in South Africa by an Italian company GIE, presently known as the Ansaldo Group. The plant, which was nearly fully erected at

Boputhatswana, in South Africa, could not be run, due to political reasons. It was decided by the Government of South Africa to sell the Power Plant.

TCP had deputed a team of its Power Plant specialists to inspect and examine the condition of the Power Plant. It was found that M/s Merz and Mclellan in South Africa and M/s Dryden Combustion Company, South Africa, had preserved the Power Plant in an excellent condition, as per the preservation procedure of the Original Equipment Manufacturers.

Based on the technical information and Plant condition, Subject purchased the Power Plant through Redington India Private Limited, Singapore, under, as is where condition is, and was brought to India for up gradation and reerection and commission at Gummidipoondi, in Thiruvallur District, Tamil Nadu.

Erection and commissioning

The plant was erected and successfully commissioned during September 1999. It has been operating at its targeted capacity without any hindrance. The company has entered into a Power Purchase Agreement with the TNEB for the supply of the power generated at its Plant to the TNEB Grid. The Power Plant has been successfully generating and supplying the Power to the TNEB Grid.

Project Cost and Means of Financing

The project cost of the plant for re-erection, after dismantling the same from South Africa, was estimated and appraised at Rs.1098.400 millions by Industrial Credit and Investment Corporation of India Limited (ICICI) a leading Financial Institution. ICICI along with Indian Overseas Bank (IOB), C and IC Branch, sanctioned a Term Loan assistance of Rs.714.000 millions and the balance of Rs.384.400 millions was brought in by the Promoters by way of interest free unsecured loan and by issue of 33,54, 606 Equity Shares of Rs.10/- each, by way of Rights offer, in the ratio of 2 Equity Shares for every 1 Equity share, at par, at Rs.10/- each, to the existing shareholders, on the record date of 7th July 2000.

FOOD DIVISION

The company, as part of further diversification, has identified wheat products manufacturing unit. The unit has been purchased and is given on lease.

6 MW BIOMASS BASED POWER PROJECT

The company is presently implementing a 6 MW Biomass based Power Plant at a cost of around Rs.220.000 millions duly financed partly by the Bankers and partly out of internal generation.

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.51.39
UK Pound	1	Rs.80.20
Euro	1	Rs.68.92

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		67

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	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
-	NB	New Business	-

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.