1. Summary Information

		Country	India
Company Name	SHIRDI INDUSTRIES LIMITED	Principal Name 1	Mr. Rakesh Kumar Agarwal
Status	Satisfactory	Principal Name 2	Mr. Mukesh Hariram Bansal
		Registration #	11-75613
Street Address	'A' Wing, Mhatre Pen Building, 2^nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai - 400 028, Maharashtra
Established Date	15.12.1993	SIC Code	--
Telephone#	91-22-24318550	Business Style 1	Manufacturer
Fax #	91-22-24372200	Business Style 2	--
Homepage	www.asisindia.com	Product Name 1	MDF Board
# of employees	Not Available	Product Name 2	Particle Board
Paid up capital	Rs. 173,066,000/-	Product Name 3	prelaminated Board
Shareholders	Bodies Corporate 67.71%, Directors or relatives of directors 32.29%	Banking	Union Bank of India
Public Limited Corp.	No	Business Period	18 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Associates / Subsidiaries	--	Asis Industries Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,473,841,000	Current Liabilities	410,237,000
Inventories	651,027,000	Long-term Liabilities	2,325,106,000
Fixed Assets	1,763,603,000	Other Liabilities	120,433,000
Deferred Assets	000	Total Liabilities	2,855,776,000
Invest& other Assets	45,210,000	Retained Earnings	904,839,000
		Net Worth	1,077,905,000
Total Assets	3,933,681,000	Total Liab. & Equity	3,933,681,000
Total Assets (Previous Year)	3,329,780,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	2,592,024,000	Net Profit	260,03,000
Sales(Previous yr)	2,157,992,000	Net Profit(Prev.yr)	172,849,000

MIRA INFORM REPORT

Report Date :

29.12.2011

IDENTIFICATION DETAILS

Name :	SHIRDI INDUSTRIES LIMITED
Registered Office :	'A' Wing, Mhatre Pen Building, 2^nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai - 400 028, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	15.12.1993
Com. Reg. No.:	11-75613
Capital Investment / Paid-up Capital :	Rs. 173.066 Millions
CIN No.: [Company Identification No.]	U51900MH1993PLC075613
TAN No.: [Tax Deduction & Collection Account No.]	MUMS26935G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of MDF Board, Particle Board, prelaminated Board, etc
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 4311000
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

INFORMATION DECLINED BY

Name :	Mr. Hiren Oza
Designation :	Vice President in Finance

LOCATIONS

Registered Office :	'A' Wing, Mhatre Pen Building, 2^nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai - 400 028, Maharashtra, India
Tel. No.:	91-22-24318550
Fax No.:	91-22-24372200
E-Mail :	ozahiren@asisindia.com corporate@asisindia.com corporate@eximkey.com
Website :	www.asisindia.com
Area :	2000 Sq.fts
Location :	Owned
Central Marketing Office :	18, Prime Centre, 2^nd Floor, S V Road, Santacruz (West), Mumbai – 400054, Maharashtra, India
Tel. No.:	91-22-67101111/67101133
Fax No.:	91-22-67101122
E-Mail :	marketing@asisindia.com
Website :	http://www.asisindia.com
Branch Office :	Located At: Kolkata Bhubaneshwar Pune Nagpur Guwahati Ahmedabad Mumbai New Delhi Lucknow Chennai Hyderabad Indore Chandigarh Uttaranchal Jaipur Bangalore

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Rakesh Kumar Agarwal

Designation :

Managing Director

Address :

Plot No. 326, Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

10.06.1963

Date of Appointment :

15.12.1993

DIN No. :

00244328

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	U67120MH1992PTC067214	LABH CAPITAL SERVICES PRIVATE LIMITED	Director	10-02-93	10-02-93	-	Active	NO
2	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Managing director	01-04-08	15-12-93	-	Active	NO
3	U45200MH1995PTC091140	REPUTE PROPERTIES PRIVATE LIMITED	Director	07-08-95	07-08-95	-	Active	NO
4	U74900MH1995PTC091199	EMECA CONSULTANCY SERVICES PRIVATE LIMITED	Director	08-08-95	08-08-95	07-04-07	Active	NO
5	U51900MH1994PLC077469	ASIS LOGISTICS LIMITED	Director	20-04-98	20-04-98	-	Active	NO
6	U51900MH1995PLC090410	ASIS GLOBAL LIMITED	Director	01-05-98	01-05-98	-	Active	NO
7	U72100MH2000PLC128709	ASIS INDUSTRIES LIMITED	Director	14-09-00	14-09-00	-	Active	NO
8	U20296MH1995PTC085715	SWANBAY TECHNOLOGIES PRIVATE LIMITED	Director	08-11-00	08-11-00	-	Active	NO
9	L99999MH1982PLC026191	PRADEEP METALS LIMITED	Additional director	12-08-11	31-10-01	-	Active	NO
10	U01110MH2004PLC144347	POONA PEARLS BOITEK LIMITED	Director	04-02-04	04-02-04	01-02-10	Active	NO
11	U74140MH2007PTC169689	CHRIST CONSULTANCY PRIVATE LIMITED	Director	11-07-07	11-07-07	11-07-07	Active	YES
12	U74990DL2005PTC135152	ASIS PLYWOOD PRIVATE LIMITED	Additional director	10-09-10	10-09-10	-	Active	NO

Name :

Mr. Mukesh Hariram Bansal

Designation :

Director

Address :

Plot No. 326, Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

29.09.1961

Date of Appointment :

16.11.1996

DIN No. :

00244474

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	U67120MH1992PTC067214	LABH CAPITAL SERVICES PRIVATE LIMITED	Director	15-06-92	15-06-92	-	Active	NO
2	U70102MH1995PTC091436	MANHAR PROPERTIES PRIVATE LIMITED	Director	08-08-95	08-08-95	-	Active	NO
3	U74900MH1995PTC091199	EMECA CONSULTANCY SERVICES PRIVATE LIMITED	Director	08-08-95	08-08-95	07-04-07	Active	NO
4	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Director	16-11-96	16-11-96	-	Active	NO
5	U63090MH1997PTC110233	ASIS OVERSEAS (C AND F) PRIVATE LIMITED	Director	21-08-97	21-08-97	-	Active	NO
6	U20296MH1995PTC085715	SWANBAY TECHNOLOGIES PRIVATE LIMITED	Director	08-11-00	08-11-00	-	Active	NO
7	U72100MH2000PLC128709	ASIS INDUSTRIES LIMITED	Director	20-11-00	20-11-00	-	Active	NO
8	U51900MH1994PLC077469	ASIS LOGISTICS LIMITED	Director	20-11-00	20-11-00	-	Active	NO
9	U67190MH2007PTC169626	SHARVEN CONSULTANCY PRIVATE LIMITED	Additional director	26-11-10	11-07-07	-	Active	YES

Name :

Mr. Sarvesh Hariram Bansal

Designation :

Whole Time Director

Address :

Plot No. 326, Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

30.05.1976

Date of Appointment :

30.05.2001

DIN No. :

00244881

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	U65923MH1995PTC089183	DYTEL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	06-06-95	06-06-95	-	Active	NO
2	U65921MH1995PTC089163	RACHANA FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	24-07-95	24-07-95	-	Active	NO
3	U63090MH1997PTC110233	ASIS OVERSEAS (C AND F) PRIVATE LIMITED	Director	10-08-99	10-08-99	-	Active	NO
4	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Whole-time director	01-04-08	30-05-01	-	Active	NO
5	U72100MH2000PLC128709	ASIS INDUSTRIES LIMITED	Director	21-10-02	21-10-02	-	Active	NO
6	U51900MH1995PLC090410	ASIS GLOBAL LIMITED	Director	22-10-03	22-10-03	-	Active	NO
7	U01110MH2004PLC144347	POONA PEARLS BOITEK LIMITED	Director	04-02-04	04-02-04	01-02-10	Active	NO
8	U51900MH1994PLC077469	ASIS LOGISTICS LIMITED	Director	12-01-05	12-01-05	-	Active	NO
9	U74990DL2005PTC135152	ASIS PLYWOOD PRIVATE LIMITED	Additional director	10-09-10	10-09-10	-	Active	NO

Name :

Mr. Hariram Budhram Agarwal

Designation :

Whole Time Director

Address :

Plot No. 326, Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

03.01.1937

Date of Appointment :

16.11.1996

DIN No. :

00245032

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	U65923MH1995PTC089183	DYTEL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	06-06-95	06-06-95	-	Active	NO
2	U65923MH1995PTC090141	SAJAL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	24-07-95	24-07-95	23-03-09	Active	NO
3	U65920MH1995PTC092097	PRATIBHA FINANCE AND INVESTMENT PRIVATE LIMITED	Director	24-08-95	24-08-95	-	Active	NO
4	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Director	16-11-96	16-11-96	-	Active	NO
5	U72100MH2000PLC128709	ASIS INDUSTRIES LIMITED	Director	21-10-02	21-10-02	-	Active	NO
6	U01110MH2004PLC144347	POONA PEARLS BOITEK LIMITED	Director	04-02-04	04-02-04	01-02-10	Active	NO

Name :

Mr. Jasbir Singh

Designation :

Director

Address :

703, Vandana Apartments, Jan Kalyan Nagar, Malvani, Malad (West), Mumbai – 400 098, Maharashtra, India

Date of Birth/Age :

04.05.1952

Date of Appointment :

24.10.2003

DIN No. :

00271251

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	U65923MH1995PTC089183	DYTEL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	06-06-95	06-06-95	-	Active	NO
2	U65923MH1995PTC090141	SAJAL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	24-07-95	24-07-95	23-03-09	Active	NO
3	U65920MH1995PTC092097	PRATIBHA FINANCE AND INVESTMENT PRIVATE LIMITED	Director	24-08-95	24-08-95	-	Active	NO
4	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Director	16-11-96	16-11-96	-	Active	NO
5	U72100MH2000PLC128709	ASIS INDUSTRIES LIMITED	Director	21-10-02	21-10-02	-	Active	NO
6	U01110MH2004PLC144347	POONA PEARLS BOITEK LIMITED	Director	04-02-04	04-02-04	01-02-10	Active	NO

Name :

Mr. Sujay N Kantawala

Designation :

Director

Address :

74, Dariya Mahal – li 80, Napeansea Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

02.04.1967

Date of Appointment :

26.07.2010

DIN No. :

00271102

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	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Director	26-07-10	23-06-07	-	Active	NO
2	L36911MH1989PLC051577	FLAWLESS DIAMOND (INDIA) LIMITED	Additional director	18-10-07	18-10-07	20-11-10	Active	NO

Name :

Mr. Anand Kumar Jain

Designation :

Director

Address :

House No-9, B N Reddy Colony, Road, No. 14, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Date of Birth/Age :

01.06.1947

Date of Appointment :

01.11.2006

DIN No. :

00056184

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	U29120DL1984PTC170448	TRANS VALVES (INDIA) PRIVATE LIMITED	Director	06-01-84	06-01-84	Active	NO
2	U33201DL1995PLC113272	ARIHANT OPTICS LIMITED	Managing director	09-08-95	09-08-95	Active	NO
3	U74899DL1995PTC072488	GAURAV FINCAP PRIVATE LIMITED	Director	15-09-95	15-09-95	Active	NO
4	U23203DL1999PTC100416	ARIHANT LPG PRIVATE LIMITED	Director	25-06-99	25-06-99	Active	NO
5	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Director	29-09-07	01-11-06	Active	NO

Name :

Mr. Ravish Chand Jain

Designation :

Director

Address :

C -51 Vivek Vihar, New Delhi – 110 095, India

Date of Birth/Age :

01.07.1955

Date of Appointment :

01.11.2006

DIN No. :

00056227

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	U51909DL1986PLC024032	U P TELELINKS LIMITED	Director	10-08-86	10-08-86	-	Active	NO
2	U74899DL1995PTC072655	RISHABH FINCAP PRIVATE LIMITED	Director	22-09-95	22-09-95	-	Active	NO
3	U74899DL1995PTC071910	ARIHANT TECHNOMAC PRIVATE LIMITED	Director	10-05-99	10-05-99	-	Active	NO
4	U23203DL1999PTC100416	ARIHANT LPG PRIVATE LIMITED	Director	25-06-99	25-06-99	-	Active	NO
5	U29120DL1984PTC170448	TRANS VALVES (INDIA) PRIVATE LIMITED	Director	01-04-04	01-04-04	07-03-11	Active	NO
6	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Director	29-09-07	01-11-06	-	Active	NO
7	U51101DL2007PTC162612	DEEP TELECABLES PRIVATE LIMITED	Director	26-04-07	26-04-07	-	Active	NO
8	U33201DL1995PLC113272	ARIHANT OPTICS LIMITED	Director	30-09-08	10-07-08	-	Active	NO

Name :

Mr. Mahabir Prasad Agrawall

Designation :

Director

Address :

26, Palm Country, Golconda Post, Darga Hussain Shawali, Toli Chowki, Hyderabad – 500018, Andhra Pradesh, India

Date of Birth/Age :

09.05.1953

Date of Appointment :

15.03.2010

DIN No. :

00040364

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	L65910AP1984PLC004862	KAVERI PROJECTS LIMITED	Director	09-11-84	09-11-84	-	Active	NO
2	U70102AP1995PLC022235	AMBIENCE PROPERTIES LIMITED	Whole-time director	01-09-06	18-11-96	-	Active	NO
3	U45200AP1991PTC012171	THEME AMBIENCE RESORTS AND HOTELS PRIVATE LIMITED	Director	22-06-97	22-06-97	15-09-10	Active	NO
4	U15142WB1999PTC089477	SHREE MAHESH EDIBLE PRODUCTS PRIVATE LIMITED	Director	24-05-99	24-05-99	-	Active	NO
5	U55101AP1999PTC032502	AMBIENCE RESORTS AND MOTELS PRIVATE LIMITED	Director	15-09-99	15-09-99	-	Active	NO
6	U24239AP2000PTC035396	AR PHARMACARE PRIVATE LIMITED	Director	04-10-00	04-10-00	-	Active	NO
7	U45201AP1995PTC019214	VASUNDHARA CONSTRUCTIONS PRIVATE LIMITED	Director	31-03-01	31-03-01	-	Active	NO
8	U45209AP2002PTC038846	SHUBHAM TELECOM PRIVATE LIMITED	Director	24-04-02	24-04-02	-	Active	NO
9	U51900MH1985PTC036590	NISHANT AGENCIES PRIVATE LIMITED	Director	01-07-02	01-07-02	13-10-11	Active	NO
10	U45200AP1986PTC006563	VISHAL DEVELOPERS AND BUILDERS PRIVATE LIMITED	Director	31-03-04	31-03-04	-	Active	NO
11	U45200AP2004PTC043098	KONCEPT NIRMAAN PRIVATE LIMITED	Director	22-04-04	22-04-04	-	Active	NO
12	U70109WB1995PTC071661	GANDEVA PROPERTIES PRIVATE LIMITED	Director	02-07-04	02-07-04	-	Active	NO
13	U45200AP1995PTC021803	FORTUNE CONSTRUCTIONS PRIVATE LIMITED	Whole-time director	01-10-07	12-07-04	-	Active	NO
14	U45200AP2005PTC045924	PLATINUM PROPERTIES PRIVATE LIMITED	Director	19-04-05	19-04-05	-	Active	NO
15	U72200AP2005PLC046637	SONAR SHELTERS LIMITED	Managing director	23-06-05	23-06-05	-	Active	NO
16	U70102AP2005PTC045173	UNIVERSAL REALTORS PRIVATE LIMITED	Whole-time director	01-10-10	30-06-05	-	Active	NO
17	U70102AP2005PTC047122	RADIANT DEVELOPERS PRIVATE LIMITED	Director	12-08-05	12-08-05	-	Active	NO
18	U40103WB1985PLC038515	AVANT GARDE RE-ENERGY LIMITED	Director	22-09-05	22-09-05	-	Active	NO
19	L74210WB1964PLC026284	TANTIA CONSTRUCTIONS LIMITED	Director	04-11-05	04-11-05	-	Active	NO
20	U45200AP2006PTC049729	OMEGA SHELTERS PRIVATE LIMITED	Director	06-04-06	06-04-06	-	Active	NO
21	U45201AP2006PTC050132	TRIDENT SHELTERS PRIVATE LIMITED	Director	16-05-06	16-05-06	-	Active	NO
22	U70102AP2006PTC051232	GLOBAL SHELTERS PRIVATE LIMITED	Director	29-09-06	29-09-06	-	Active	NO
23	U45200AP2007PTC052557	PYRAMID SHELTERS PRIVATE LIMITED	Director	31-01-07	31-01-07	-	Active	NO
24	U45200AP2008PTC057120	CELEBRITY SHELTERS PRIVATE LIMITED	Director	11-01-08	11-01-08	-	Active	NO
25	U45200AP2008PTC057252	SWIFT HOMES PRIVATE LIMITED	Director	21-01-08	21-01-08	-	Active	NO
26	U55100AP2008PTC059472	CELEBRITY HOSPITALITY PRIVATE LIMITED	Director	03-06-08	03-06-08	-	Active	NO
27	U70102AP2007PTC053937	GM INFRA VENTURES PRIVATE LIMITED	Alternate director	15-09-08	15-09-08	-	Active	NO
28	U55101AP2009PTC063757	ESPIRIT HOTELS PRIVATE LIMITED	Director	26-05-09	26-05-09	-	Active	NO
29	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Director	15-03-10	15-03-10	-	Active	NO

Name :

Mr. Bankuru Venkateswara Rao

Designation :

Whole Time Director

Address :

High 102, Bharatnagat Colony Hyderabad – 500018, Andhra Pradesh, India

Date of Birth/Age :

31.07.1959

Date of Appointment :

01.10.2009

DIN No. :

02859677

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	U51900MH1993PLC075613	SHIRDI INDUSTRIES LIMITED	Whole-time director	30-09-09	30-09-09	Active	NO
2	U74990DL2005PTC135152	ASIS PLYWOOD PRIVATE LIMITED	Additional director	15-03-11	15-03-11	Active	NO

KEY EXECUTIVES

Name :	Ms. Neelam Damji Shah
Designation :	Company Secretary
Date of Appointment :	30.11.2009
Pan No. :	BBLPS7546E
Name :	Mr. Hiren Oza
Designation :	Vice President in Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As On 26.07.2010

Names of Shareholders	No. of Shares
Rakesh Hariram Agrawal	1325440
Anita Mukesh Bansal	558800
Rukamani Hariram Agarwal	300250
Mukesh Bansal	1293690
Anu Agarwal	734630
Sarvesh Hariram Agarwal	711770
Sajal Finance and investment Private Limited – India	725000
Rachana Finance and investment Private Limited – India	965000
Pratibha Finance and investment Private Limited – India	185000
Dytel Finance and Investment Private Limited – India	180000
Manhar Properties Private Limited – India	49000
Hariram Agarwal	406200
Asha Sarvesh Agarwal	258200
Asis Industries Private Limited – India	8290000
Labh Capital Services Private Limited – India	1323600
Total	17306580

AS ON 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	67.71
Directors or relatives of directors	32.29
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of MDF Board, Particle Board, prelaminated Board, etc
Products :	Plain and Pre laminated Particle Board Plain and Pre laminated MDF Board Decorative Laminates Laminated Flooring Doors and Door Skins Furniture Components

PRODUCTION STATUS (As On 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Plain and Pre-laminated Boards*	SqM	50881000	17801380	5307560
Decorative Laminates	SqM	18800000	11528789	3710093
Furniture (including flooring, furniture components, Door, Door Skins and others)		-	13647419	-

* The capacity includes 6,055,158 SQ MET of pre-lamination also, for which plain boards manufactured by the company is also used for captive consumption.

GENERAL INFORMATION

Bankers :

· Union Bank of India, Lead Bank of UBI Bank Consortium Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India

· State bank of India

· ICICI Bank Limited

· HDFC Bank Limited

· Laxmi Vilas Bank

· UCO Bank

Facilities :

Secured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
From Banks
- Cash Credit	754.639	665.111
- Term Loans	1243.623	1095.667
- Bill Discounting Facility	148.354	169.375
- Loans against Vehicles	2.273	5.810
Interest accrued and due on term loans	8.333	14.600
Total	2157.222	1950.563

1. Cash Credit Loans are secured by first pari-passu charge by way of hypothecation of current assets namely stocks and book debts, inventories, second charge on pari-passu basis on fixed assets of the company, personal guarantee of directors and corporate guarantee of group companies.

2. Term Loans are secured by first mortgage and hypothecation charge on land, buildings, plant, machinery, furniture and fixtures, office equipments both present and to be acquired fixed assets of the Company and personal guarantees of the directors of the company and their assets and corporate guarantee of the group companies.

3. Bill discounting facility from banks are secured by first pari-passu charge on inventories and book-debts of the Company. The facility is further secured by personal guarantee of Managing Director of the Company and Corporate guarantee from Asis Logistics Limited

4. Loans against vehicles are secured by way of hypothecation of specific vehicles acquired under the arrangements.

Unsecured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Short Term Loans
From Banks(Repayable with in one year Rs.114.317 Previous year Rs. Nil)	114.317	--
Other than Banks (Repayable on demand)	53.567	77.430
Total	167.884	77.430

Banking Relations :

--

Auditors :

Name 1:

S R Batliboi and Associates

Chartered Accountants

Address :

Golf View Corporate Tower B, Sector 42, Sector Road, Gurgaon – 122 001, Haryana, India

Tel No.:

91-124-4644000

Fax No.:

91-124-4644050

Associates/Subsidiaries :

• Asis Industries Private Limited

• Asis Global Limited
• Asis Logistic Limited
• Asis Overseas (C and F) Private Limited
• Dytel Finance and Investment Private Limited
• Labh Capital Service Private Limited
• Manhar Properties Private Limited
• Poona Pearls Biotek Limited
• Pratibha Finance and Investment Private Limited
• Rachna Finance and Investment Private Limited
• Repute Properties Private Limited
• S.N. Sales Corporation (A partnership firm) (till 30.04.2009)
• Swanbay Technologies Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs. 10/- each	Rs. 300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17306580	Equity Shares	Rs. 10/- each	Rs. 173.066 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		173.066	177.506	173.066
2] Share Application Money		0.000	0.000	74.000
3] Reserves & Surplus		904.839	640.365	393.841
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1077.905	817.871	640.907
LOAN FUNDS
1] Secured Loans		2157.222	1950.563	1518.697
2] Unsecured Loans		167.884	77.430	135.478
TOTAL BORROWING		2325.106	2027.993	1654.175
DEFERRED TAX LIABILITIES		66.013	46.033	41.091
TOTAL		3469.024	2891.897	2336.173
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1763.603	1763.842	1138.595
Capital work-in-progress		0.276	24.035	301.809
INVESTMENT		31.892	124.076	124.076
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	651.027	587.810	322.628
	Sundry Debtors	954.089	554.356	616.015
	Cash & Bank Balances	32.628	23.954	43.090
	Other Current Assets	5.446	0.000	0.000
	Loans & Advances	481.678	251.707	68.287
Total Current Assets		2124.868	1417.827	1050.020
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	391.237	375.309	258.627
	Other Current Liabilities	19.000	20.820	0.000
	Provisions	54.420	41.754	19.700
Total Current Liabilities		464.657	437.883	278.327
Net Current Assets		1660.211	979.944	771.693
MISCELLANEOUS EXPENSES		11.297	0.000	0.000
FOREIGN CURRENCY TRANSLATION RESERVE		1.745	0.000	0.000
TOTAL		3469.024	2891.897	2336.173

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	2592.024	2157.992	2125.414
		Other Income	42.743	13.361	4.453
		TOTAL (A)	2634.767	2171.353	2129.867
Less	EXPENSES
		Purchase of finished goods	560.250	556.358	886.583
		Raw material and packing material consumed	701.354	718.127	537.722
		Decrease/(increase) in inventories	126.810	(101.892)	(138.818)
		Personnel expenses	111.636	93.924	56.262
		Other manufacturing, administrative, selling	403.328	395.049	409.228
		Prior year adjustments for raw material consumption	18.124	0.000	22.653
		Miscellaneous expenses written off	0.000	0.000	2.144
		TOTAL (B)	1921.502	1661.566	1775.774
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		713.265	509.787	354.093
Less	FINANCIAL EXPENSES (D)		248.923	197.700	151.895
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		464.342	312.087	202.198
Less/ Add	DEPRECIATION/ AMORTISATION (F)		184.329	142.199	107.415
	PROFIT BEFORE TAX (E-F) (G)		280.013	169.888	94.783
Less	TAX (I)		19.980	(2.961)	19.552
	PROFIT AFTER TAX (G-I) (J)		260.033	172.849	75.231
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		372.517	199.668	124.437
	BALANCE CARRIED TO THE B/S		632.550	372.517	199.668
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	96.491	97.308	NA
	TOTAL EARNINGS		96.491	97.308	NA
	IMPORTS
		Raw Materials	155.341	98.626	NA
		Finished Goods	16.253	0.974	NA
		Capital Goods	6.605	41.725	NA
	TOTAL IMPORTS		178.199	141.325	NA
	Earnings Per Share (Rs.)
	- Basic		15.03	9.99	3.91
	- Diluted		15.03	9.99	3.81

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	9.87	7.96	3.53
Net Profit Margin (PBT/Sales)	(%)	10.80	7.87	4.46
Return on Total Assets (PBT/Total Assets}	(%)	7.20	5.34	4.33
Return on Investment (ROI) (PBT/Networth)		0.26	0.21	0.15
Debt Equity Ratio (Total Liability/Networth)		2.59	3.01	3.02
Current Ratio (Current Asset/Current Liability)		4.57	3.24	3.77

LOCAL AGENCY FURTHER INFORMATION

profile:

Subject is engaged in providing wood based interior furnishings solutions in the manufacture of an array of wood based panel products, which include medium density fibre (MDF), boards, particle boards, prelaminated MDF and particle boards, laminates, flooring, door skins, panel doors, modular furniture and other allied products. Its business comprises manufacturing the wood products and trading in steel, chemicals, paper, thin boards and other related items required for the furniture industry, which include polyvinyl chloride (PVC) wrapped profiles and PVC edge bends. SIL also trades in transferable export incentives by offering forward sell options to exporters and purchase options to the importers at deferred payment basis. The products manufactured by SIL are sold under the brand name of ASIS. It has sales and distribution network, including marketing offices, dealers, distributors, sub-dealers and retailers. For the Fiscal year ended 31 March 2009, Shirdi Industries Limited's reveues rose 2% to RS2177.8M. Net income before extraordinary decreased 4% to RS160M. Reveues reflect higher income from Manufacturing and Other income. Net income was offset by higher salary and staff welfare expenses, higher interest expense, increased depreciation, higher manufacturing and other expense and increased purchases as a percentage of sales.

Note:

Assi Group: There are approximately 17-18 companies under Asis Group all in India

COMPANY’S PERFORMANCE:

The company has achieved turnover of Rs. 2634.800 millions for the year 01.04.2009 to 31.03.2010 as against the turnover of Rs. 2177.500 millions for the year ended 31.03.2009.

THE FINANCIAL RESULTS:

The operating margin of the company improved from 34.7% in FY 2008-09 and 36.6% in FY 2009-10. The manufacturing sales increased from Rs. 1598.6 millions to Rs. 2064.0 millions. The company achieved EBITDA margin of 33.78% on manufacturing sales and over all EBITDA of 27.76% in FY 09-10. The adjusted PAT of the company amounting to Rs. 260 millions for FY 2009-10 after prior year’s expenses of Rs. 18.12 millions and deferred tax liability of 19.89 millions also.

CONTINGENT LIABILITIES NOT PROVIDED FOR

Rs. In Millions

Particulars	31.03.2010
a) Corporate Guarantees given on behalf of others.	125.857
b) Obligations for Export Commitment under EPCG (refer note below). (excluding interest @ 15% from the date of import)	138.369
Total	264.226

Note: The Company has imported Plant and Machinery under Export Promotion Capital Goods Scheme (EPCG) by availing a concession on custom duty payable on such imports. According to this scheme, the Company can import capital goods at concessional rates of import duties, however it has to make exports equivalent to 8 times of the amount of duty saved. These exports have to be made within eight years from the date of import out of which 50% exports has to be made within six years. The management is confident that the same will be fulfilled within the specified time period hence provision for the amount of duty saved is not required in the financial statements.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for

Modification of charge

Charge identification number of the modified

80015874

Corporate identity number of the company

U51900MH1993PLC075613

Name of the company

SHIRDI INDUSTRIES LIMITED

Address of the registered office or of the principal place of business in India of the company

'A' Wing, Mhatre Pen Building, 2^nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai - 400 028, Maharashtra, India

Type of charge

Immovable Property

Particular of charge holder

Union Bank of India, Lead Bank of UBI Bank Consortium Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai – 40 023, Maharashtra, India

Email

cbsifbmsmarg@unionbankofindia.com

Nature of description of the instrument creating or modifying the charge

Extension of equitable mortgage

Date of instrument Creating the charge

04.11.2011

Amount secured by the charge

Rs.3140.600 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

As Determined In The Relevant Sanction Letters of each Bank of UBI Consortium.

Terms of Repayment

On demand / as stipulated in the relevant sanction letters of each bank of UBI Consortium.

Margin

As stipulated in the relevant sanction letters of each bank of UBI Consortium.

Extent and Operation of the charge

To secure an aggregate amount of Rs.3140.600 Millions granted by UBI consortium to the company as under :-

(Rs. in Millions)

Nature of Facilities	UBI	UCO	BOI	IB	SCB	SBI
Cash Credit and WCDL	435.000	253.000	226.000	226.000	240.000	120.000
IMP/INL LC and LG	132.000	0.000	132.000	116.000	0.000	50.000
Term Loan	319.700	151.500	276.000	270.000	0.000	193.400

Others

Union Bank of India is designated and recognized as lead bank of UBI consortium and the member banks of the said consortium are as under :-

(1) Union Bank of India (UBI)

(2) UCO bank (UCO)

(3) Bank of India (BOI)

(4) Indian Bank (IB)

(5) Standard Chartered Bank (SCB)

(6) State Bank of India (SBI)

Short particulars of the property charged

Extension of equitable mortgage in favour of UBI consortium in respect of the company's immovable properties viz.

(1) all that piece of land known as plot no.1, sector-9, in the Pantanagar Industrial

Area within the village limits of Shimla Bahadur and Kalyanpur, Tehsil Kiccha and within / outside the limits of municipal council of Rudrapur, Udhamsingh Nagar District, State of Uttaranchal

Containing by admeasurements 101656 sq. Mtrs. Or thereabout and bounded as follows -

On or towards the north by : 24 meter wide road

On or towards the south by : green belt and than 45 meter wide road

On or towards the east by : plot no.2 of sector - 9

On or towards the west by : 75 meter wide road.

(2) office unit no.226, on the 2nd floor in 'a' wing, of Mhatre Pen Building on the land

Bearing C.S. No.1/1374 of Lower Parel Division and Final Plot no.533 of T.P.S. Iv, Mahim division on Senapati Bapat Marg, Dadar (west), Mumbai - 400 028.

(3) all that piece and parcel of land comprised in survey nos.1064/2a, 1067/1a1, 1063/2, 1063/3, 1064/1b, 1064/2a, 1066/1b, 1066/3, 1065/3b, 1080/3, 1064/2c, 1065/1, 1066/2, 1065/3a1a, 1065/3a2, 1064/2b

And 1065/2 situated at Elavoor village, Gummidi Pundi Taluk, Tiruvallur district within sub-registrar district of Gummidi Pundi and registration district of north Chennai.

Date of latest modification prior to the present modification

20.09.2010

Particulars of the present modification

UBI consortium which comprises of union bank of India as lead bank, UCO Bank, bank of India, Indian Bank, Standard Chartered Bank and State Bank of India as members of the consortium have granted to the company an aggregate amount of Rs.3140.600 Millions and the properties mortgaged by the company shall continue to be mortgaged in favour of working capital lenders and term loan lenders except standard chartered bank (SCB) on 1st pari passu charge basis and in favour of SCB on 2nd pari passu charge basis.

Fixed assets:-

· Land Freehold

· Land Leasehold

· Leasehold Improvements

· Building

· Plant and Machinery

· Vehicles

· Furniture and Fixtures

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	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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		45

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.