MIRA INFORM REPORT

Report Date :

18.01.2010

IDENTIFICATION DETAILS

Name :	ADVANCED MICRO DEVICES PRIVATE LIMITED
Registered Office :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	06.06.1978
Com. Reg. No.:	05-9051
CIN No.: [Company Identification No.]	U74909HR1978PTC009051
TAN No.: [Tax Deduction & Collection Account No.]	RTKA01543D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers of Membrane Filters

RATING & COMMENTS

MIRA’s Rating :

A (59)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 4951720
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
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 :	879, Industrial Estate, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Tel. No.:	91-171-2699290
E-Mail :	mdi@vsnl.com jpjnco@hotmail.com jprak_umb@yahoo.co.in shreya.kanodia@mdimembrane.com seetharamjm@mdimembrane.com nitin.aggarwal@mdimembrane.com ruchir@mdimembrane.com deepak.joshi@mdimembrane.com
Factory :	20-21 Industrial Area, Ambala, 133006 India
Tel. No.:	91-171-2699290
Fax No.:	91-171-2699221
E-Mail :	mdi@vsnl.com
Branch Office :	No. 84, 3rd Floor, Aditya Industrial Estate, Mind Space Off Link Road, Malad (W), Mumbai - 400 064 Maharashtra, India Tel: 91-22-40214436 Fax: 91-22-40214435 Email: jindal@mdimembrane.com

DIRECTORS

As on : 30.09.2010

Name :	Dr. Jai Dev
Designation :	Chairman cum Managing Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Birth/Age :	01.04.1926
Date of Appointment :	06.06.1978
Name :	Mr. Som Dev Gupta
Designation :	Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Birth/Age :	06.12.1941
Date of Appointment :	06.06.1978
Name :	Mr. Sharat Chander Gupta
Designation :	Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Birth/Age :	24.12.1959
Date of Appointment :	06.06.1978
Name :	Ms. Sarla Devi
Designation :	Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Appointment :	06.06.1978
Name :	Ms. Sukhda Devi
Designation :	Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Birth/Age :	10.04.1938
Date of Appointment :	06.06.1978
Name :	Ms. Nalini Kant
Designation :	Managing Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Birth/Age :	21.12.1949
Date of Appointment :	01.05.1998
Name :	Mr. Ashwant Gupta
Designation :	Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Appointment :	01.04.1997
Name :	Dr. Jag Mohan Garg
Designation :	Director
Address :	C/O Garg Associates Private Limited, Industrial Area, Ghaziabad, U.P.
Date of Appointment :	01.05.1998
Name :	Ms. Rajni Kant
Designation :	Director
Address :	879, Arya Nagar, Ambala Cantonment – 133001, Haryana, India
Date of Birth/Age :	20.05.1951
Date of Appointment :	06.06.1978

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2010

Names of Shareholders	No. of Shares
Dr. Jai Dev	750
Sharat Chandra	270
Som Dev	270
Sarla Devi	300
Sukhda Devi	600
Nalini Kant	1890
Ashawant	350
Ranji Kant	10
Total	4440

As on : 30.09.2010

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	0.00
Bodies corporate	0.00
Directors or relatives of Directors	100.00
Other top fifty shareholders	0.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of Membrane Filters

GENERAL INFORMATION

Bankers :

State Bank of India HDFC Bank Limited Punjab National Bank ICICI Bank Limited Union Bank of India Centurion Bank of Punjab

Facilities :	--
Banking Relations :	Satisfactory
Auditors :
Name :	Gandhi Minocha and Company Chartered Accountants
Address :	1-A, Tribune Colony, Ambala Cantt – 133001, Haryana, India
Tel. No.:	91-171-2652642 / 2652643
E-Mail :	gandhica@yahoo.com
Associates / Subsidiaries :	NIL

CAPITAL STRUCTURE

As on : 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs. 100/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4400	Equity Shares	Rs. 100/- each	Rs. 0.444 Million

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		0.444	0.444	0.444
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1237.486	961.411	751.184
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1237.930	961.855	751.628
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		2.218	1.004	1.086
TOTAL		1240.148	962.859	752.714
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		85.388	65.333	54.030
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		150.046	178.623	153.325
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.589	12.369	11.440
	Sundry Debtors	128.006	115.106	107.681
	Cash & Bank Balances	828.394	626.117	431.415
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	210.540	118.731	107.304
Total Current Assets		1180.529	872.323	657.840
Less : CURRENT LIABILITIES & PROVISIONS
	Other Current Liabilities	33.315	44.250	28.085
	Provisions	142.500	109.170	84.645
Total Current Liabilities		175.815	153.420	112.730
Net Current Assets		1004.714	718.903	545.110
MISCELLANEOUS EXPENSES		0.000	0.000	0.249
TOTAL		1240.148	962.859	752.714

PPROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	577.809	443.393	364.189
		Other Income
		TOTAL (A)	577.809	443.393	364.189
Less	EXPENSES
		Office Expenses
		Administrative Expenses	158.386	123.147	115.329
		Advertising Expenses
		TOTAL (B)	158.386	123.147	115.329
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		419.423	320.246	248.860
Less	FINANCIAL EXPENSES (D)		NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		419.423	320.246	248.860
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	NA	NA
	PROFIT BEFORE TAX (E-F) (G)		419.423	320.246	248.860
Less	TAX (I)		143.715	109.087	84.734
	PROFIT AFTER TAX (G-I) (J)		275.708	211.159	164.126
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods calculated on FOB Basis	243.431	NA	NA
	TOTAL EARNINGS		243.431	NA	NA
	IMPORTS
		Raw Materials	11.432	6.377	NA
		Capital Goods	0.066	1.712	NA
	TOTAL IMPORTS		11.498	8.089	NA
	Earnings Per Share (Rs.)		55141.70	42231.87	32825.39

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	47.71	47.62	45.06
Net Profit Margin (PBT/Sales)	(%)	72.58	72.22	68.33
Return on Total Assets (PBT/Total Assets}	(%)	238.55	208.73	220.75
Return on Investment (ROI) (PBT/Networth)		0.33	0.21	0.33
Debt Equity Ratio (Total Liability/Networth)		1.02	0.97	0.94
Current Ratio (Current Asset/Current Liability)		6.71	5.68	5.83

LOCAL AGENCY FURTHER INFORMATION

Fixed Assets :

• land
• building
• New Buildings
• Plant and Machinery
• R and D Lab Machinery
• R and D Refrigerator
• R and D Workstation
• Fan
• Generator
• Fax
• Furniture
• Scooter
• Computer
• Computer (Mfg)
• Cooler
• Pager
• Epabx
• Refrigerator
• Tata Sumo
• Tata Gue
• Mobile Phone
• Electronic Equipment
• Air Conditioner
• Typewriter
• Quails
• Innova Car
• Honda City Car
• Tata Indigo Marina
• Mould and Dies
• Electronic Inst.
• U.P.S.
• Truck Mahindra Max
• Tata 407
• Packing Machine
• Tata Ace
• Bike CT – 100
• Motor Cycle

Operations :

During the year under review sales and profit of the company increased. Going by the results available, the company is likely to do well during the current year despite tough competition from its revivals.

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. 45.59
UK Pound	1	Rs. 72.31
Euro	1	Rs. 60.73

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		59

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.