MIRA INFORM REPORT

Report Date :

16.12.2011

IDENTIFICATION DETAILS

Name :	C.R.I. PUMPS PRIVATE LIMITED
Registered Office :	7/46-1, Keeranatham Road, Saravanampatty, Coimbatore – 641 035, Tamilnadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	31.01.1996
Com. Reg. No.:	18-006902
Capital Investment / Paid-up Capital :	Rs.125.000 Millions
CIN No.: [Company Identification No.]	U29120TZ1996PTC006902
TAN No.: [Tax Deduction & Collection Account No.]	CMBC03078F
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is predominantly engaged in the business of manufacture, purchase and sale of Pumps.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 6263000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good 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/ Corporate Office/ Marketing Division :	7/46-1, Keeranatham Road, Saravanampatty, Coimbatore – 641 035, Tamilnadu, India
Tel. No.:	91-422-3027000/ 2669971
Fax No.:	91-422-2669961
E-Mail :	cripumps@md3.vsnl.net.in corp@cripumps.com corporateoffice@cripumps.com
Website :	http://www.cripumps.com
Marketing Office :	202, Sathy Road, Saravanampatty, Coimbatore – 641 035, Tamilnadu, India
Tel. No. :	91-422-3051300
Factory :	54-A, Avarampalayam Road, Ganapathy, Coimbatore – 641 006, Tamilnadu, India
Tel. No.:	91-422-2562091 / 2562092 [Marketing] / 3911600 / 2666395
Fax No.:	91-422-2562065 / 2562144 / 2667052
E-Mail :	cri@vsnl.net corp@cripumps.com
Area :	90,000 Sq.ft
Branch Office :	Located at: v Ludhiana v Ghaziabad v Faridabad v New Delhi v Jaipur v Kanpur v Kolkata v Jabalpur v Udaipur v Indore v Ahmedabad v Aurangabad v Nagpur v Ranchi v Bhubaneswar v Raipur v Navi Mumbai v Pune v Vijayawada v Hubli v Secunderabad v Chittoor v Bangalore v Chennai v Calicut v Coimbatore v Elamakkara v Madurai

DIRECTORS

As on 06.09.2010

Name :

Mr. Rajendran Gopal

Designation :

Managing Director

Address :

46, A.T.T. Colony, Uppilipalayam, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

21.04.1961

Date of Appointment :

31.01.1996

DIN No.:

00038034

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	U29120TZ1989PTC003027	Chola Pumps Private Limited	Director	11-09-89	11-09-89	Amalgamated	NO
2	U29120TZ1996PTC006902	C R I Pumps Private Limited	Managing director	31-01-96	31-01-96	Active	NO
3	U02921TZ1996PLC006903	Ransar Industries Limited	Director	31-01-96	31-01-96	Amalgamated	NO
4	U29120TZ2002PTC010129	C R I Industries Private Limited	Director	01-04-02	01-04-02	Amalgamated	NO
5	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Director	13-07-05	13-07-05	Active	NO
6	U67120TZ2006PTC013176	G4 Investments (India) Private Limited	Director	27-10-06	27-10-06	Active	NO
7	U45201TZ2006PTC013261	CRI Infrastructures (India) Private Limited	Director	04-12-06	04-12-06	Active	NO
8	U29120TZ2005PTC012020	Naargo Industries Private Limited	Additional director	01-11-10	01-11-10	Active	NO

Name :

Mr. Selvaraj Gopal

Designation :

Managing Director

Address :

46, A.T.T. Colony, Uppilipalayam, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

01.07.1966

Date of Appointment :

31.01.1996

DIN No.:

00038063

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	U52110TZ1991PTC003483	Magna Marketing Private Limited	Director	25-10-91	25-10-91	Amalgamated	NO
2	U29120TZ1996PTC006902	C R I Pumps Private Limited	Managing director	27-09-07	31-01-96	Active	NO
3	U02921TZ1996PLC006903	Ransar Industries Limited	Managing director	01-12-98	01-12-98	Amalgamated	NO
4	U29120TZ2002PTC010129	C R I Industries Private Limited	Managing director	01-04-02	01-04-02	Amalgamated	NO
5	U27101TZ1991PTC003484	Meltech Castings Private Limited	Director	01-04-05	01-04-05	Amalgamated	NO
6	U29269TZ1975PTC000741	Sri Premraj Engineering and Textiles Private Limited	Director	24-06-05	24-06-05	Amalgamated	NO
7	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Director	13-07-05	13-07-05	Active	NO
8	U67120TZ2006PTC013176	G4 Investments (India) Private Limited	Director	27-10-06	27-10-06	Active	NO
9	U45201TZ2006PTC013261	CRI Infrastructures (India) Private Limited	Director	04-12-06	04-12-06	Active	NO

Name :

Mr. Soundarajan Gopal

Designation :

Whole Time Director

Address :

“Aishwarya”, No. 1, Shringar Nagar Extension, Bharathi Colony, Coimbatore – 641 004, Tamilnadu, India

Date of Birth/Age :

16.05.1958

Date of Appointment :

31.01.1996

DIN No.:

00037995

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	U52110TZ1991PTC003483	Magna Marketing Private Limited	Managing director	25-10-91	25-10-91	Amalgamated	NO
2	U27104TZ1993PTC004416	Apex Bright Bars CBE Private Limited	Director	25-05-93	25-05-93	Active	NO
3	U02921TZ1996PLC006903	Ransar Industries Limited	Director	31-01-96	31-01-96	Amalgamated	NO
4	U29120TZ1996PTC006902	C R I Pumps Private Limited	Whole-time director	27-09-07	31-01-96	Active	NO
5	U27101TZ1991PTC003484	Meltech Castings Private Limited	Managing director	13-10-01	13-10-01	Amalgamated	NO
6	U29120TZ2002PTC010129	C R I Industries Private Limited	Director	01-04-02	01-04-02	Amalgamated	NO
7	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Director	13-07-05	13-07-05	Active	NO
8	U67120TZ2006PTC013176	G4 Investments (India) Private Limited	Director	27-10-06	27-10-06	Active	NO
9	U45201TZ2006PTC013261	CRI Infrastructures (India) Private Limited	Director	04-12-06	04-12-06	Active	NO
10	L33129TZ1972PLC000641	Pricol Limited	Director	23-07-10	31-07-09	Active	NO

Name :

Mr. Velumani Chinnasamy

Designation :

Whole Time Director

Address :

46, A.T.T. Colony, Uppilipalayam, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

15.12.1950

Date of Appointment :

18.05.2007

DIN No.:

00037920

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	U29120TZ1989PTC003027	Chola Pumps Private Limited	Managing director	11-09-89	11-09-89	Amalgamated	NO
2	U02921TZ1996PLC006903	Ransar Industries Limited	Director	31-01-96	31-01-96	Amalgamated	NO
3	U27101TZ1991PTC003484	Meltech Castings Private Limited	Director	09-06-99	09-06-99	Amalgamated	NO
4	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Managing director	03-04-09	13-07-05	Active	NO
5	U67120TZ2006PTC013176	G4 Investments (India) Private Limited	Director	27-10-06	27-10-06	Active	NO
6	U45201TZ2006PTC013261	CRI Infrastructures (India) Private Limited	Director	04-12-06	04-12-06	Active	NO
7	U29120TZ1996PTC006902	C R I Pumps Private Limited	Whole-time director	27-09-07	18-05-07	Active	NO

Name :

Mrs. Sarojini Gopal

Designation :

Director

Address :

46, A.T.T. Colony, Uppilipalayam, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

09.04.1945

Date of Appointment :

28.01.2008

DIN No.:

00037881

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	U29120TZ2002PTC010129	C R I Industries Private Limited	Director	01-04-02	01-04-02	Amalgamated	NO
2	U29269TZ1975PTC000741	Sri Premraj Engineering and Textiles Private Limited	Director	24-06-05	24-06-05	Amalgamated	NO
3	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Director	13-07-05	13-07-05	Active	NO
4	U29120TZ1996PTC006902	C R I Pumps Private Limited	Director	28-01-08	28-01-08	Active	NO

Name :

Mrs. Lalithamani Rajendran

Designation :

Director

Address :

46, A.T.T. Colony, Uppilipalayam, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

11.07.1965

Date of Appointment :

28.01.2008

DIN No.:

00038108

Other Directorship :

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	U52110TZ1991PTC003483	Magna Marketing Private Limited	Director	13-10-01	13-10-01	28-01-08	Amalgamated	NO
2	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Director	13-07-05	13-07-05	-	Active	NO
3	U29120TZ1996PTC006902	C R I Pumps Private Limited	Director	28-01-08	28-01-08	-	Active	NO

Name :

Mrs. Chitra Selvaraj

Designation :

Director

Address :

46, A.T.T. Colony, Uppilipalayam, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

28.07.1971

Date of Appointment :

28.01.2008

DIN No.:

00038134

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	U27101TZ1991PTC003484	Meltech Castings Private Limited	Director	13-10-01	13-10-01	Amalgamated	NO
2	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Director	13-07-05	13-07-05	Active	NO
3	U29120TZ1996PTC006902	C R I Pumps Private Limited	Director	28-01-08	28-01-08	Active	NO

Name :

Mrs. Asha Geethanjali Soundararajan

Designation :

Director

Address :

46, A.T.T. Colony, Uppilipalayam, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

31.12.1964

Date of Appointment :

28.01.2008

DIN No.:

00765024

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	U29120TZ1989PTC003027	Chola Pumps Private Limited	Director	13-10-01	13-10-01	Amalgamated	NO
2	U70101TZ2005PTC011989	C R I Amalgamations Private Limited	Director	13-07-05	13-07-05	Active	NO
3	U29120TZ1996PTC006902	C R I Pumps Private Limited	Director	28-01-08	28-01-08	Active	NO
4	U01132TZ2011PTC017546	Cobblestone River Farms Private Limited	Director	02-11-11	02-11-11	Active	NO

KEY EXECUTIVES

Name :	Mrs. Amudha Lakshmi Aruchswamy
Designation :	Company Secretary
Address :	537A, II Avenue, New Thillai Nagar, P.N. Pudur, Coimbatore – 641 041, Tamilnadu, India
Date of Birth/Age :	21.05.1980
Date of Appointment :	18.06.2010
DIN No.:	ALLPA7033P
Name :	Mr. K. Srinivasa Raghvan
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.09.2010

Names of Shareholders	No. of Shares
Rajendran G.	1702530
Soundarajan G.	1702530
Selvaraj G.	1702530
Sarojini Gopal	31250
CRI Amalgamations Private Limited, India	6874910
C. Velumani	486250
Total	12500000

As on 06.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	55.00
Directors or relatives of directors	45.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is predominantly engaged in the business of manufacture, purchase and sale of Pumps.

Products :

Production Description	ITC Code No
Monoblock and Submersible	841370-06
Motors	850110-02
Power Driven and Centrifugal pumps	84139-02

Agencies Held :

CRI Pumps SA (PTY) Limited

Exports :

Countries :

Europe Country, American Countries, Australia, Netherlands

Imports :

Products :

Raw Materials and Machineries

Countries :

Japan, Korea and Germany

PRODUCTION STATUS (AS ON 31.03.2010)

Licensed and Installed Capacity – Not Applicable

(Rs. in lakhs)

Particulars	2009-10
Actual Production	48437.54

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

v State Bank of India, Commercial Branch, Trichy Road, Coimbatore – 641 018, Tamilnadu, India

v Industrial Development Bank of India Limited, Specialized Corporate Branch, # 72, May Flower, E Castle, Dr. Balasundaram Road, Coimbatore – 641 018, Tamilnadu, India

v Standard Chartered Bank, Red Rose Plaza, 509, D.B. Road, R.S. Puram, Coimbatore – 641 002, Tamilnadu, India

v Citi Bank, Aminashi Road Branch

v Corporation Bank, Industrial Finance Branch, Coimbatore – 641 018, Tamilnadu, India

v The Hongkong and Shanghai Banking Corporation Limited, Nagabrahma Towers, 76, Cathedral Road, Chennai – 600 086, Tamilnadu, India

v Industrial Development Bank of India Limited, Viscose Towers, Avanashi Road, Coimbatore – 641 018, Tamilnadu, India

v DBS Bank Limited

Facilities :

Secured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs in Millions)
From the Bank secured by hypothecation of Stock of materials, receivables, machineries and other movable assets and equitable mortgage of Land and Building.
Cash Credit Account – SBI	174.290	6.157
Cash Credit Account – IDBI	373.285	375.018
Cash Credit Account – SCB	215.662	139.383
Cash Credit Account – Corporation Bank	0.000	3.066
CITI Bank – PCFC	225.114	77.507
Term Loan – SBI	0.000	8.245
Term Loan – CITI Bank	465.668	465.500
Term Loan – SCB	81.402	133.252
Term Loan – IDBI	149.850	217.000
Term Loan – Corporation Bank	0.000	8.674
Term Loan - DBS Bank	120.120	0.000
Total	1805.391	1433.802

Unsecured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs in Millions)
Deposits from Directors	0.000	89.855
Hire Purchase – hypothecation of vehicle	5.766	5.495
Dealers Security Deposit	66.539	57.315
Inter-corporate Deposit	0.000	76.246
	72.305	228.911

Banking Relations :	--
Auditors :
Name :	K.S.G. Subramanyam and Company Chartered Accountants
Address :	II Floor, United Shopping Complex, 94/36, Dr. Nanjappa Road, Coimbatore - 641 018, Tamilnadu, India
PAN No.:	AILPS2745P
Holding Company:	C R I Amalgamations Private Limited CIN No.: U70101TZ2005PTC011989
Associates :	v Nargo Industries Private Limited v Raaja Magnetics Limited v Pressmatic Engineering India Private Limited v Nirmal Pumps Private Limited v Apax Bright Bars (Cbe) Private Limited v Beekay Industries v Beekay Fabricators v Beekay Steel Industries v Beekay Wood Works v J.J. Coatings v Sliconix v Ess Vee Packs v Sri Bagkiam Indsutries v Precicraft Components India Private Limited v Venkatalakshmi Alloys Casting
Subsidiaries :	C.R.I. Pumps S.A. (Pty) Limited, South Africa C.R.I. Pumps FZE, Sharjah C.R.I. Bombas Hidraulicas Limited, Brazil Bombas C.R.I. Espana S.L. Investment, Spain C.R.I. Pompa Sanayi Ve Ticaret Limited, Sirketi, Turkey

CAPITAL STRUCTURE

As on 31.03.2010

Authorized Capital:

No. of Shares	Type	Value	Amount
15250000	Equity Shares (The authorized capital has been increased under the Scheme of amalgamation by the High Court of Madras dated 20.04.2010)	Rs.10/- each	Rs.152.500 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
12500000	Equity Shares (6874910 Equity shares held by the holding C.R.I. Amalgamation Private Limited)	Rs.10/- each	Rs.125.000 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		125.000	125.000	43.930
2] Share Application Money		0.000	0.000	81.070
3] Reserves & Surplus		1440.821	1065.184	977.440
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1565.821	1190.184	1102.440
LOAN FUNDS
1] Secured Loans		1805.391	1433.802	1116.637
2] Unsecured Loans		72.305	228.911	126.466
TOTAL BORROWING		1877.696	1662.713	1243.103
DEFERRED TAX LIABILITIES		43.100	44.200	19.703
TOTAL		3486.617	2897.097	2365.246
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1187.793	1121.738	759.433
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		108.026	41.376	35.376
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1968.770	1138.589	1277.794
	Sundry Debtors	590.597	606.093	395.471
	Cash & Bank Balances	120.795	152.634	155.199
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	829.600	670.473	580.214
Total Current Assets		3509.762	2567.789	2408.678
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	690.716	420.701	477.104
	Other Current Liabilities	0.000	0.000	52.714
	Provisions	628.248	413.105	308.423
Total Current Liabilities		1318.964	833.806	838.241
Net Current Assets		2190.798	1733.983	1570.437
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3486.617	2897.097	2365.246

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	6397.833	4470.793	3524.028
		Other Income	78.151	101.561	40.774
		TOTAL (A)	6475.984	4572.354	3564.802
Less	EXPENSES
		Office Expenses	5324.520	3867.016	2974.560
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	5324.520	3867.016	2974.560
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1151.464	705.338	590.242
Less	INTEREST (D)		106.507	157.855	126.893
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1044.957	547.483	463.349
Less/ Add	DEPRECIATION/ AMORTISATION (F)		280.075	276.685	128.989
	PROFIT BEFORE TAX (E-F) (G)		764.882	270.798	334.360
Less	TAX (H)		267.500	124.558	118.777
	PROFIT AFTER TAX (G-H) (I)		497.382	146.240	215.583
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		17.784	30.042	25.032
Add	Income related to earlier year		0.283	--	--
	Deferred tax liability		1.100	--	--
	Income tax Excess Provision written off		1.005	--	0.247
	Deferred tax asset		--	--	0.576
Less	APPROPRIATIONS
		Dividend @ 100% (Previous Year 40%)	125.000	50.000	43.930
		Dividend Tax 16.995%	21.244	8.498	7.466
		Transfer to General Reserve	200.000	100.000	160.000
	BALANCE CARRIED TO THE B/S		171.310	17.784	30.042
	EARNINGS IN FOREIGN CURRENCY
		FOB value of Exports	549.522	481.609	265.186
		Dividend Earnings	1.865	5.282
		Interest Earnings	4.803	0.886
	TOTAL EARNINGS		556.190	487.777	265.186
	IMPORTS
		Machineries	124.297	253.054	96.279
		Raw Materials	44.103	46.070	0.000
		Others	3.353	36.464	0.000
	TOTAL IMPORTS		171.753	335.588	96.279
	Earnings Per Share (Rs.)		39.79	13.66	49.07

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	7.68	3.20	6.05
Net Profit Margin (PBT/Sales)	(%)	11.96	6.06	9.49
Return on Total Assets (PBT/Total Assets}	(%)	16.28	7.34	10.55
Return on Investment (ROI) (PBT/Networth)		0.49	0.23	0.30
Debt Equity Ratio (Total Liability/Networth)		2.04	2.10	1.89
Current Ratio (Current Asset/Current Liability)		2.66	3.08	2.87

LOCAL AGENCY FURTHER INFORMATION

CHANGE OF ADDRESS:

Registered office of the company has been shifted from 122-B, Athiapapyam Road, Dhinnavedampatti, Ganapathy, Coimbatore – 641 006, Tamilnadu, India to the present address w.e.f. 19.10.2007.

OVERVIEW OF OPERATIONS DURING THE YEAR:

During the year the Company was able to improve the business with the increase in the area of sales and introduction of new products. The Company was able to expand the operations even in the midst of huge volatility in the market.

The buoyancy in Indian economy is being reflected in the overall growth of the economy. Added to the general growth in economy, the Governments thrust on infrastructure developments and related projects would result in increased opportunities for growth of the company.

These positive factors will certainly help the company to improve their performance and achieve significant levels of growth.

The Company is in the path of increasing its capacity with modernized equipments and operational efficiencies so as to improve its share of market.

INDIAN PUMPS MARKETS – PRESETN SCENARIO:

PUMPS MARKET

The Indian pump industry is developing in a phased manner and ha made its presence in global level. It has large and medium scale manufacturers in the organized sector and there are hundreds of small scale units in the unaorganized sector producing mainly pumps and spares for domestic and agricultural applications. About 14 lakhs pumps are being produced every year. The organized sector of pump market is estimated at Rs.50000.000 millions.

AWARDS, RECOGNITION AND ACHIEVEMENTS:

The company is honoured with the EEPC India award for the 6^th consecutive year. The winning of the EEPC India award for star performer of large enterprise stands testimony of the company’s consistency in performance.

The Company has been awarded by the Tamilnadu Government’s with Corporate Social Responsibility Award for the Best Commercial and Industrial Institution of the year 2009-2010 and received the cash prize of Rs.0.500 million from Honorable Deputy Chief Minister Thiru. M.K. Stalin on 21.07.2010 at St. George Fort, Chennai.

MERGER:

Magna Marketing Private Limited was amalgamated with the Company by the order of the Hon’ble High Court, Madras dated 20^th April, 2010 and the necessary Forms has also filed with Registrar of Company.

FORM 8:

Corporate identity number of the company	U29120TZ1996PTC006902
Name of the company	C.R.I. PUMPS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	7/46-1, Keeranatham Road, Saravanampatty, Coimbatore – 641 035, Tamilnadu E-Mail: cripumps@md3.vsnl.net.in
This form is for	Creation of charge
Type of charge	Book Debts Others (Stocks)
Particular of charge holder	The Hongkong and Shanghai Banking Corporation Limited, Nagabrahma Towers, 76, Cathedral Road, Chennai – 600 086, Tamilnadu, India E-Mail: udayag@hsbc.co.in
Nature of description of the instrument creating or modifying the charge	Deed of hypothecation for stocks and receivables
Date of instrument Creating the charge	20.07.2011
Amount secured by the charge	Rs.250.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Interest shall be payable by the company on the banking facilities as per bank's tariff subject however that the bank shall have the right to change the rate of interest after giving notice to company Terms of Repayment: In consideration of banking facilities sanctioned/to be sanctioned by the bank to the company, the company has hypothecated and charged to the bank by way of first charge on stocks & receivables mentioned in the deed of hypothecation dated 20^th July 2011, to secure the repayments of the advances together with interest, cost and all other charges Margin: The company shall maintain such margin as may be specified by the bank from time to time Extent and Operation of the charge: Incase the company fails to fulfill obligation under the agreement, the bank shall be entitled to take possession of the hypothecated properties and sell them by public auction or private contract and utilise the proceeds in full or part settlement of its claims Others: Working Capital Limits- Rs.250.000 millions.
Short particulars of the property charged	Hypothecation of Stocks and Book Debts of the company. Address- 7/46-1, Keeranatham Road, Saravampatty, Coimbatore-641 035.

This form is for	Modification of charge
Charge identification number of the modified	90004683
Corporate identity number of the company	U29120TZ1996PTC006902
Name of the company	C.R.I. PUMPS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	7/46-1, Keeranatham Road, Saravanampatty, Coimbatore – 641 035, Tamilnadu, India
Type of charge	Immovable property Book Debts Movable Property Floating Charge Current Assets
Particular of charge holder	IDBI Bank, Specialized Corporate Branch, #72, May Flower, E Castle, Dr. Balasundaram Road, Coimbatore – 641018, Tamilnadu, India
Nature of description of the instrument creating or modifying the charge	i) Supplemental Deed of Hypothecation ii) Supplemental Facilities Agreement
Date of instrument Creating the charge	03.11.2010
Amount secured by the charge	Rs.858.677 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Terms of Repayment : Working Capital: Repayable on Demand. Term Loan Nos. 2, 3, 4, 5, 8: BPLR Minus 2% p.a. with interest reset option at the end of every Financial Year. Term Loan No 9: BPLR Minus 2.25% p.a. with interest reset option at the end of every Financial Year. Margin : Cash Credit, WCDL/ FCNR(B)(Inner limit of CC Limit)- 25% PC/ PCFC(Inner limit of CC Limit), Letter Of Credit/ Buyers Credit, Bank Guarantee Limit( Inner Limit to LC))- 10% Extent and Operation of the charge : The Charge Operates as security for the due repayment of all liabilities in respect of the loan/ limit including costs, charges and expenses and all other monies due to the bank. Others : Cash Credit: BBR+ 200 bps(Present effective rate 10.50%p.a.) payable monthly. FCNR(B): LIBOR plus 350 bps(minimum) Disbursement of FCNR(B) loan will be subject to availability of funds. The pricing on FCNR (B) also depends upon availability of funds. PC/PCFC: BBR+ 125 bps for INR (Present effective rate 9.75 p.a.) LIBOR plus 200 bps for FCY. EBR/FBN: BBR+ 125 bps for INR(Present effective rate 9.75%p.a. LIBOR plus 200 bps for FCY.
Short particulars of the property charged	Pari- Passu first charge over the current assets of the company.
Date of latest modification prior to the present modification	24.07.2009
Particulars of the present modification	The amount secured by the Existing charge Stands enhanced From Rs. 788.677 Millions To Rs. 858.677 Millions

CONTINGENT LIABILITIES: (As on 31.03.2010)

v Contingent Liabilities in respect of Other Guarantees: Rs.7.270 millions

FIXED ASSETS

v Land

v Building

v Machinery, Tools and Meters

v Furniture and Electric Fittings

v Vehicle

v Office Equipments

v Windmill

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.54.23
UK Pound	1	Rs.83.77
Euro	1	Rs.70.46

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.