Business information report

1. Summary Information

		Country	India
Company Name	EXXONMOBIL LUBRICANTS PRIVATE LIMITED	Principal Name 1	Mr. Nancy Beth Carlson
Status	Moderate	Principal Name 2	Mr. Douglas Franklin Wezniak
		Registration #	057721
Street Address	E 20, 1^st and 2^nd Floor, Hauz Khas, Main Market, New Delhi 110016, India
Established Date	04.03.1994	SIC Code	--
Telephone#	91-124-4951300	Business Style 1	Manufacturing and Selling of Lubricants
Fax #	91-124-4217069	Business Style 2	--
Homepage	manuj.sehgal@exxonmobil.com	Product Name 1	--
# of employees	--	Product Name 2	--
Paid up capital	Rs.633,985,000	Product Name 3	--
Shareholders	Foreign holdings 100.00	Banking	Societe General Bank
Public Limited Corp.	--	Business Period	17 Years
IPO	--	International Ins.	-
Public Enterprise	--	Rating	B (29)
Related Company
Relation	Holding Company	Company Name	Mobil Petroleum Company Inc
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,353,942,000	Current Liabilities	910,372,000
Inventories	1,164,417,000	Long-term Liabilities	1,126,000,000
Fixed Assets	7,784,000	Other Liabilities	0
Deferred Assets	46,202,000	Total Liabilities	2,036,372,000
Invest& other Assets	0	Retained Earnings	0
		Net Worth	535,973,000
Total Assets	2,572,345,000	Total Liab. & Equity	2,572,345,000
Total Assets (Previous Year)	1,961,696,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	4,295,248,000	Net Profit	299,242,000
Sales(Previous yr)	3,433,877,000	Net Profit(Prev.yr)	256,412,000

MIRA INFORM REPORT

Report Date :

29.12.2011

IDENTIFICATION DETAILS

Name :	EXXONMOBIL LUBRICANTS PRIVATE LIMITED
Registered Office :	E 20, 1^st and 2^nd Floor, Hauz Khas, Main Market, New Delhi 110016
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.03.1994
Com. Reg. No.:	057721
Capital Investment / Paid-up Capital :	Rs.633.985 millions
CIN No.: [Company Identification No.]	U74899DL1994PTC057721
TAN No.: [Tax Deduction & Collection Account No.]	DELE03094A
PAN No.: [Permanent Account No.]	AABCE0207H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Selling of Lubricants
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 2143892
Status :	Moderate
Payment Behaviour :	Sow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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 / Head Office:	E 20, 1^st and 2^nd Floor, Hauz Khas, Main Market, New Delhi 110016, India
Tel. No.:	91-124-4951300
Mobile No.:	91-9930944306 (Ms. Nisha)
Fax No.:	91-124-4217069
E-Mail :	manuj.sehgal@exxonmobil.com
Branch Office :	Plot No.107, Ground Floor, Kalpataru Point, Kamani Marg, Road No.8, Sion (East), Mumbai, India

DIRECTORS

AS ON 20.09.2011

Name :	Mr. Nancy Beth Carlson
Designation :	Director
Date of Birth/Age :	24.11.1955
Date of Appointment :	01.05.2009
DIN No.:	02732110

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	U74899DL1994PTC057721	Exxonmobil Lubricants Private Limited.	Director	22/09/2009	01/05/2009	-	Active	NO

Name :	Mr. Douglas Franklin Wezniak
Designation :	Director
Date of Birth/Age :	14.12.1968
Date of Appointment :	01.07.2009
DIN No.:	02733411

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	U74899DL1994PTC057721	Exxonmobil Lubricants Private Limited.	Director	22/09/2009	01/07/2009	-	Active	NO

Name :	Mr. Raymond Keng An Wong
Designation :	Director
Date of Birth/Age :	19.11.1973
Date of Appointment :	03.11.2010
DIN No.:	03306802

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	U74899DL1994PTC057721	Exxonmobil Lubricants Private Limited.	Director	20/09/2011	03/11/2010	-	Active	NO

Name :	Mr. Gaurav Dang
Designation :	Director
Date of Birth/Age :	08.08.1966
Date of Appointment :	03.06.2011
DIN No.:	03019542

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	U74899DL1994PTC057721	Exxonmobil Lubricants Private Limited.	Alternate director	03/06/2011	01/05/2010	-	Active	NO

KEY EXECUTIVES

Name :	Manuj Sehgal
Designation :	Secretary
Date of Birth/Age :	17.05.1978
Date of Appointment :	19.10.2006
Name :	Ms. Nisha
Designation :	Supply and Distribute Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 20.09.2011

Names of Equity Shareholders	No. of Shares
Mobil Petroleum Company INC, USA	63398499
Mobil International Petroleum Corporation, USA	1
TOTAL	63398500

Names of Equity Shareholders	No. of Shares
ESSO Global Investments Limited, USA	2300000

AS ON 20.09.2011

Equity Share Breakup		Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]		100.00
	Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Selling of Lubricants

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Societe General Bank, 6^th Floor, Mohan Dev Building, 13 Tolstoy Marg, New Delhi 110001, India

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
Working Capital Loans Banks	380.000	735.000
TOTAL	380.000	735.000
UNSECURED LOAN
Rupee Term Loans	746.000	480.500
TOTAL	746.000	480.500

Banking Relations :	--
Auditors :
Name :	Price Waterhouse Chartered Accountant
Address :	Building No. 8, 7^th and 8^th Floor, Tower B, DLF Cyber City, Gurgaon 122002, Haryana, India
Ultimate Holding Company:	Exxon Mobil Corporation
Holding Company:	Mobil Petroleum Company Inc
Fellow Subsidiaries :	· ExxonMobil Asia Pacific Pte. Limited (Formerly ExxonMobil Singapore Pte.Limited) · Mobil Oil Australia Limited · ExxonMobil Exploration and Production Malaysia Inc. · Exxon Mobil Company India Private Limited · ExxonMobil Research and Engineering · ExxonMobil Lubricants Trading Company · ExxonMobil Gas (India) Private Limited · ExxonMobil Marine Limited · Mobil Chemical Products International Inc · ExxonMobil Yugen Kaisha · ExxonMobil Gas Marketing Europe Limited

CAPITAL STRUCTURE

AS ON 20.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
80000000	Equity Shares	Rs. 10 each	Rs.800.000 millions
5000000	10% Non Participating Non Cumulative Redeemable Preference Shares	Rs. 100 each	Rs.500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
63398500	Equity Shares	Rs. 10 each	Rs.633.985 millions
2300000	10% Non Participating Non Cumulative Redeemable Preference Shares	Rs. 100 each	Rs.230.000 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		863.985	863.985	863.985
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(328.012)	(627.254)	(883.667)
NETWORTH		535.973	236.731	(19.682)
LOAN FUNDS
1] Secured Loans		380.000	735.000	635.000
2] Unsecured Loans		746.000	480.500	310.500
TOTAL BORROWING		1126.000	1215.500	945.500
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1661.973	1452.231	925.818
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7.784	10.077	14.832
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		46.202	37.509	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1164.417	877.664	1110.851
	Sundry Debtors	739.905	597.935	591.605
	Cash & Bank Balances	183.273	183.235	99.196
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	430.764	255.276	237.419
Total Current Assets		2518.359	1914.110	2039.071
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	838.115	458.271	1049.859
	Other Current Liabilities	66.970	50.156	72.783
	Provisions	5.287	1.038	5.443
Total Current Liabilities		910.372	509.465	1128.085
Net Current Assets		1607.987	1404.645	910.986
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1661.973	1452.231	925.818

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales	4295.248	3433.877	3158.042
		Other Income	19.558	83.426	15.799
		TOTAL (A)	4314.806	3517.303	3173.841
Less	EXPENSES
		Cost of Materials
		Manufacturing Expenses
		Employees Remuneration	4071.287	3177.499	3136.859
		Selling and Distribution Expenses
		Office Expenses
		Administrative Expenses
		TOTAL (B)	4071.287	3177.499	3136.859
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		243.519	339.804	36.982
Less	FINANCIAL EXPENSES (D)		NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		243.519	339.804	36.982
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.152	5.416	9.550
	PROFIT BEFORE TAX (E-F) (G)		239.367	334.388	27.432
Less	TAX (H)		(59.875)	77.976	9.747
	PROFIT AFTER TAX (G-H) (I)		299.242	256.412	17.685
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.000	69.651	66.559
		Commission Earnings	0.000	0.000	14.491
	IMPORTS
		Raw Materials	0.000	918.537	1238.656
	Earnings Per Share (Rs.)		--	4.04	0.28

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.93	7.29	0.55
Net Profit Margin (PBT/Sales)	(%)	5.57	9.73	0.86
Return on Total Assets (PBT/Total Assets}	(%)	9.47	17.37	1.33
Return on Investment (ROI) (PBT/Networth)		0.44	1.41	(1.39)
Debt Equity Ratio (Total Liability/Networth)		3.79	7.28	(105.35)
Current Ratio (Current Asset/Current Liability)		2.76	3.75	1.80

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS

The Company has sold 33,760 KL of Lubricants this year with Sales Revenue being Rs. 5532 Millions as compared Rs. 4352 Millions last year. This has resulted in a Profit before Tax of Rs. 239 Millions.

FUTURE OUTLOOK

The Company continues to focus on improving its profitability by generating sales of flagship and premium branded products to high value sector.

FIXED ASSETS:

· Plant and Machinery

· Office Equipments

· Furniture and Fixtures

· Computer and Data Processing Units

· Moulds and Tools

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.53.21
UK Pound	1	Rs.83.32
Euro	1	Rs.69.51

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--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		29

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.