MIRA INFORM REPORT

Report Date :

08.12.2011

IDENTIFICATION DETAILS

Name :	INDCOAT SHOE COMPONENTS LIMITED [w.e.f. 25.10.1999]
Formerly Known As :	INDOCOAT PACKAGING LIMITED
Registered Office :	31, Factory Area, Kanpur-208012, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.04.1986
Com. Reg. No.:	20-007825
Capital Investment / Paid-up Capital :	Rs.12.000 Millions
CIN No.: [Company Identification No.]	U19201UP1986PLC007825
TAN No.: [Tax Deduction & Collection Account No.]	KNPI00097G
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Footwear Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 392000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct 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 :	31, Factory Area, Kanpur-208012, Uttar Pradesh, India
Tel. No.:	91-512-2234657 / 2219062 / 2219063 / 2672133
Fax No.:	91-512-2224213 / 2232823
E-Mail :	info@indcoat.com
Website :	www.indocoat.com
Factory :	B-14, Panki Site 5, Udyog Kunj, Kanpur-208022, Uttar Pradesh, India
Tel. No.:	91-512-2234657
Fax No.:	91-512-2232823
E-Mail :	pu@inndcoat.com

DIRECTORS

As On 30.09.2011

Name :

Mr. Gautam Khemka

Designation :

Director

Address :

117/H, 1, Model Town, Pandu NAgar, Knapur-208005, Uttar Pradesh, India

Date of Birth/Age :

08.11.1973

Date of Appointment :

25.10.1999

DIN :

00269981

Name :

Mr. Anil Kumar Khemka

Designation :

Director

Address :

31, Factory Area, R K Nagar, Kanpur-208012, Uttar Pradesh, India

Date of Birth/Age :

18.11.1956

Date of Appointment :

07.04.1986

DIN :

00270032

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U19201UP1986PLC007825	INDCOAT SHOE COMPONENTS LIMITED	Director	7/4/1986	7/4/1986	Active	NO
2	L85110UP1987PLC008792	REGENCY HOSPITAL LIMITED	Director	15/03/1995	15/03/1995	Active	NO
3	U19115UP2011PTC045141	INDCOAT MONDIAL SHOE COMPONENTS PRIVATE LIMITED	Director	6/6/2011	6/6/2011	Active	NO

Name :

Mr. Arun Kumar Khemka

Designation :

Director

Address :

31, Factory Area, R K Nagar, Kanpur-208012, Uttar Pradesh, India

Date of Birth/Age :

08.08.1954

Date of Appointment :

07.04.1986

DIN :

00270155

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U19201UP1986PLC007825	INDCOAT SHOE COMPONENTS LIMITED	Director	7/4/1986	7/4/1986	Active	NO
2	U19115UP2011PTC045141	INDCOAT MONDIAL SHOE COMPONENTS PRIVATE LIMITED	Director	6/6/2011	6/6/2011	Active	NO

Name :

Mr. Kapil Khemka

Designation :

Director

Address :

31 Factory Area, Fazal-Ganj, Kanpur-208012, Uttar Pradesh, India

Date of Birth/Age :

02.01.1978

Date of Appointment :

30.09.2010

DIN :

00270190

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Arun Kumar Khemka	160100
Anil Kumar Khemka	47100
Leela Devi Khemka	628000
Rama Khemka	23600
Gautam Khemka	37000
Manju Didwania	100
Anju Bansal	100
Vishwa Nath Khemka HUF, Represented By Arun Khemka As Karta	122000
Arun Kumar Khemka HUF	20000
Anil Kumar Khemka HUF	22500
Gautam Khemka HUF	12500
Pooja Khemka	46500
Shobha Khemka	70500
Kapil Khemka	10000
Total	1200000

As On 30.09.2011

Equity Share Break Up Category	Percentage
Directors or relatives of Directors	99.98
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Footwear Components.

Products :

• P.V.C. Soles with Leather Insert, Annual Capacity 750,000 Pairs
• P.V.C. Soles and T.P.R. Soles,Annual Capacity 1,000,000 Pairs
• Leather Soles with Masonite Heel, Annual Capacity 750,000 Pairs
• Neolite (Thunit) Soles with Masonite Heels, Annual Capacity 750,000 Pairs
• P.U. Soles and P.U. Foot beds, Annual Capacity 1,500,000 Pairs
• Moulded Rubber Soles, Annual Capacity 200,000 Pairs

Products Description	ITC Code No.
Foot Wear Component	640610

PRODUCTION STATUS [As on 31.03.2011]

Particulars	Unit	Quantity
Actual Production	Pairs	4399317.00

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• ICICI Bank
• State Bank of India, Industrial Finance Branch, B-13, Sarvodaya Nagar, Kanpur-208005, Uttar Pradesh, India
• Small Industries Development Bank Of India, Krishna Tower, First Floor, 15/63 Civil Lines, Kanpur-208001, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
ICICI Bank Auto Loan	0.000	0.192
Kotak Mahindra Prime Limited	0.732	1.101
Term Loan from State Bank of India	11.641	18.974
State Bank of India T/L II	2.739	0.000
State Bank of India Cash Credit (Against Hypothecation of Book Debts And Stocks)	19.165	21.511
SIDBI	4.318	0.000
State Bank of India C/C Hypothecation	27.189	0.000
Total	65.784	41.778
Unsecured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
From Share Holders, Directors And Relatives	25.683	21.222
Total	25.683	21.222

Banking Relations :	--
Auditors :
Name :	Sudhindra Jain And Company Chartered Accountants
Address :	113/233, Swaroop Nagar, Kanpur-208002, Uttar Pradesh, India
PAN :	AACFS7403B

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,200,000	Equity Shares	Rs.10/- each	Rs.12.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		12.000	7.500	7.500
2] Share Application Money		5.355	9.855	9.855
3] Reserves & Surplus		80.734	59.676	36.036
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		98.089	77.031	53.391
LOAN FUNDS
1] Secured Loans		65.784	41.778	24.086
2] Unsecured Loans		25.683	21.222	16.639
TOTAL BORROWING		91.467	63.000	40.725
DEFERRED TAX LIABILITIES		11.193	6.718	7.174
TOTAL		200.749	146.749	101.290
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		125.173	94.946	61.784
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	44.609	29.530	17.696
	Sundry Debtors	93.404	69.949	41.239
	Cash & Bank Balances	1.461	3.615	3.010
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	29.582	17.746	13.413
Total Current Assets		169.056	120.840	75.358
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	42.170	13.650	9.930
	Other Current Liabilities	46.185	46.687	19.974
	Provisions	5.125	8.700	5.950
Total Current Liabilities		93.480	69.037	35.854
Net Current Assets		75.576	51.803	39.504
MISCELLANEOUS EXPENSES		0.000	0.000	0.002
TOTAL		200.749	146.749	101.290

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	427.113	405.643	299.519
		Other Income	2.241	0.069	0.068
		TOTAL (A)	429.354	405.712	299.587
Less	EXPENSES
		Raw Materials Consumed	275.822