1. Summary Information

		Country	India
Company Name	SUPER SEALS (INDIA) LIMITED	Principal Name 1	Mr. Kamal Talwar
Status	Moderate	Principal Name 2	Mr. Trilok Singh Rawat
		Registration #	55-003193
Street Address	Flat No. 114, First Floor, Local Shopping Complex, Pocket- D and E, Sarita Vihar, New Delhi-110076, India
Established Date	25.02.1960	SIC Code	--
Telephone#	91-11-23324540	Business Style 1	Manufacturer
Fax #	91-11-23324540	Business Style 2	Supplier
Homepage	--	Product Name 1	Automobile Parts Components
# of employees	Not Available	Product Name 2	Engine Engine Spare Parts
Paid up capital	Rs. 34,907,750/-	Product Name 3	Molding Moulding Services
Shareholders	Foreign holdings (9.00%) Bodies corporate (16.00%) Directors or relatives of Directors (70.00%) Other top fifty shareholders (5.00%)	Banking	Syndicate Bank
Public Limited Corp.	NO	Business Period	51 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	B (27)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	61,369,000	Current Liabilities	43,713,000
Inventories	40,606,000	Long-term Liabilities	60,285,000
Fixed Assets	44,331,000	Other Liabilities	18,452,000
Deferred Assets	1,905,000	Total Liabilities	122,450,000
Invest& other Assets	2,000	Retained Earnings	[9,145,000]
		Net Worth	25,763,000
Total Assets	148,213,000	Total Liab. & Equity	148,213,000
Total Assets (Previous Year)	145,701,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	235,005,000	Net Profit	9,001,000
Sales(Previous yr)	197,728,000	Net Profit(Prev.yr)	[20,438,000]

MIRA INFORM REPORT

Report Date :

12.07.2011

IDENTIFICATION DETAILS

Name :	SUPER SEALS (INDIA) LIMITED (w.e.f. 17.12.2002)
Formerly Known As :	SUPER SEALS INDIA (PRIVATE) LIMITED
Registered Office :	Flat No. 114, First Floor, Local Shopping Complex, Pocket- D and E, Sarita Vihar, New Delhi-110076
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	25.02.1960
Com. Reg. No.:	55-003193
Capital Investment/ Paid-up Capital:	Rs. 34.908 Millions
CIN No.: [Company Identification No.]	U51909DL1960PLC003193
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer and Supplier of Automobile Parts Components, Engine Engine Spare Parts and Molding Moulding Services.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 100000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an old and established company having moderate track. There appears some accumulated losses being recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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 :	Flat No. 114, First Floor, Local Shopping Complex, Pocket- D and E, Sarita Vihar, New Delhi-110076, India
Tel. No.:	91-11-23324540
Fax No.:	91-11-23324540
E-Mail :	mohanam@vsnl.net

DIRECTORS

As on 28.06.2010

Name :	Mr. Kamal Talwar
Designation :	Managing Director
Address :	173, Jor Bagh, New Delhi-110003, India
Date of Birth/Age :	31.07.1955
Date of Appointment :	01.10.1980
DIN No.:	00053478
Name :	Mr. Trilok Singh Rawat
Designation :	Additional Director
Address :	House No. 1587, Sector -16, Faridabad-121002, Haryana, India
Date of Birth/Age :	01.07.1954
Date of Appointment :	05.09.2008
DIN No.:	02331485
Name :	Mr. Sriram Kapur
Designation :	Director
Address :	20 Prem Court, 6^th Floor, Dionshaw Washcha Road, Mumbai, Maharashtra, India
Date of Birth/Age :	23.04.1955
Date of Appointment :	22.11.1997
DIN No.:	00443187
Name :	Mr. Narendra Kumar Jalan
Designation :	Director
Address :	E-192, G.K-II, New Delhi-48, India
Date of Birth/Age :	22.01.1955
Date of Appointment :	06.03.1998
DIN No.:	00702239
Name :	Mr. Punkaj Jain
Designation :	Alternate Director
Address :	Suyash, 323, Sector-46, Faridabad-121003, Hartyana, India
Date of Birth/Age :	01.11.1967
Date of Appointment :	29.08.2007
DIN No.:	01201646

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.06.2010

Names of Shareholders	No. of Shares
Kamal Talwar	967486
Lata Talwar	940338
Kamal Talwar HUF	308003
Avion Pringing and Packaging Private Limited, New Delhi, India	320000
Sushil Soni	33328
Narender Kumar Taneja	6685
Basant Kumar Taneja	5332
Parshotamlal Sood	2498
Vidyawati Ahluwalia and Anul Ahluwalia	16712
Suender Mohan Khanna	26670
Abhinav Kapur and Sharddha Kapur	3369
Abhinav Kapur and Maya Kapur	18663
Deepak Anand	1789
Shalinder Soni HUF	11110
Naresh Soni and Sons HUF	13886
Anil Soni HUF	13886
Fronter Welfare Fund	188500
Chowdry Associates, New Delhi, India (A Private Company with unlimited liability)	300000
Ravinder Sethi	10
Raj Kumar Sharma	10
Total	3178275
Non Resident Equity Shareholders	No. of Shares
Harold Leeming	60
Aerouip (UK) Limited, England	312440
Total	312500
Grand Total	3490775

Equity Share Breakup (Percentage of Total Equity)

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	9.00
Bodies corporate	16.00
Directors or relatives of Directors	70.00
Other top fifty shareholders	5.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Automobile Parts Components, Engine Engine Spare Parts and Molding Moulding Services.

PRODUCTION STATUS AS ON (31.03.2009)

Particulars	Unit	Installed Capacity	Actual Production
Oil Seals	Nos.	9000000	7155373

GENERAL INFORMATION

Suppliers :

· Allied Stamping

· Prem Shakti Enterprises

· Paperdreams Private Limited, Bhiwandi

· R.D. Engineers, Faridbad

· Surya Springs, Faridabad

· Aurn Enterprises

· Metal Engineers, Faridabad

· Rajashila Synthetics

· Polman India Limited

· B.T. Engineering Works

· Navtara and Company

· Spectra Products Private Limited

· Venus Components, Faridabad

No. of Employees :

Not Available

Bankers :

Syndicate Bank, SME Branch, Sector-18, Noida-201301, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Term Loans
Car Loans- Banks*	0.518	0.368
HSIIDC**	3.111	5.247
Other Loans
Working Capital***	42.821	44.169
From Others****	[0.001]	[0.015]
Total	46.449	49.769
Note: * Loans are secured by way of hypothecation of specific assets and guaranteed by Directors. ** Loans from HSIIDC are secured by way of hypothecation of specific assets, Plant and Machinery situated at 12/1 Mathura Road (Faridabad) and guaranteed by Directors. *** Working Capital Loans from Banks are secured by an Equitable mortgage by Deposit of Title Deeds as first charge in respect of Land and Building at Mathura Road, Faridbad (Haryana) and hypothecation of Stock in Trade. Raw Materials, Stores and Spares, Book Debts in favour of Company’s ban ker. **** Secured by means of first charge over specific book debts and guaranteed by directors.
Unsecured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Fixed Deposits	2.461	2.888
Short Term Loans and Advances
- From Directors	1.220	0.000
- From Others	10.155	9.363
Total	13.836	12.251

Banking Relations :	--
Auditors :
Name :	A Mohan and Company Chartered Accountant
Address :	B-32, Kirti Nagar, New Delhi-110015, India

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
3600000	Equity Shares	Rs. 10/- each	Rs. 36.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3490775	Equity Shares	Rs. 10/- each	Rs. 34.908 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		34.908	34.908	31.708
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	2.475
4] (Accumulated Losses)		[9.145]	[17.963]	0.000
NETWORTH		25.763	16.945	34.183
LOAN FUNDS
1] Secured Loans		46.449	49.769	58.093
2] Unsecured Loans		13.836	12.251	16.458
TOTAL BORROWING		60.285	62.020	74.551
DEFERRED TAX LIABILITIES		0.000	0.000	0.143
TOTAL		86.048	78.965	108.877
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		44.331	45.204	35.782
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.002	0.002	0.002
DEFERREX TAX ASSETS		1.905	0.821	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	40.606	40.550	44.560
	Sundry Debtors	50.129	39.795	55.569
	Cash & Bank Balances	6.484	4.316	4.574
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	4.756	15.013	32.400
Total Current Assets		101.975	99.674	137.103
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.496	29.420	28.108
	Other Current Liabilities	14.217	10.803	10.114
	Provisions	18.452	26.513	25.788
Total Current Liabilities		62.165	66.736	64.010
Net Current Assets		39.810	32.938	73.093
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		86.048	78.965	108.877a

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	235.005	197.728	203.755
		Other Income	3.989	3.525	5.663
		TOTAL (A)	238.994	201.253	209.418
Less	EXPENSES
		Purchase, Material Manufacturing	118.908	122.449	119.940
		Personnel	51.818	50.409	49.972
		Administrative	16.233	15.359	17.314
		Selling	27.237	24.139	24.470
		Bad Debts	0.527	0.000	0.000
		Increase/ Decrease in Stock	0.494	[7.001]	[15.589]
		TOTAL (B)	215.217	205.355	196.107
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		23.777	[4.102]	13.312
Less	FINANCIAL EXPENSES (D)		8.347	10.414	6.503
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.430	[14.516]	6.809
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.232	6.382	6.294
	PROFIT BEFORE TAX (E-F) (G)		8.198	[20.898]	0.515
Less	TAX (H)		[0.803]	[0.460]	0.589
	PROFIT AFTER TAX (G-H) (I)		9.001	[20.438]	[0.074]
Add/ Less	Short Provision made during previous year		[0.183]	0.000	0.330
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		[17.963]	2.475	[1.780]
	BALANCE CARRIED TO THE B/S		[9.145]	[17.963]	[1.524]
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	7.384	6.112	5.474
	TOTAL EARNINGS		7.384	6.112	5.474
	IMPORTS
		Import Value	19.319	18.978	15.280
	TOTAL IMPORTS		19.319	18.978	15.280
	Earnings Per Share (Rs.)		2.58	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	3.77	[10.16]	[0.04]
Net Profit Margin (PBT/Sales)	(%)	3.49	[10.57]	0.25
Return on Total Assets (PBT/Total Assets}	(%)	5.60	[14.42]	0.30
Return on Investment (ROI) (PBT/Networth)		0.32	[1.23]	0.02
Debt Equity Ratio (Total Liability/Networth)		4.75	7.60	4.05
Current Ratio (Current Asset/Current Liability)		1.64	1.49	2.14

LOCAL AGENCY FURTHER INFORMATION

Note:

The company changed its registered office from 404 World Trade Centre, Babar Road, New Delhi-11001, India to Plot No. 1, Pankaj Plaza, 2^nd Floor, Pocket-H and J, Sarita Vihar, New Delhi-110044, India w.e.f. 02.06.2007. The Registered office has again shifted from Plot No. 1, Pankaj Plaza, 2^nd Floor, Pocket-H and J, Sarita Vihar, New Delhi-110044, India to present address w.e.f. 29.08.2007

OPERATIONS:

The company could turn the corner during this year. The last year’s global recession, which impacted the company’s performance in that year, had put strain on the resources of the Company. Therefore the Board decided to take the recession head on and formulated various policies and took several daring decisions to overcome the impact of recession. The result of such steps is evident from the facts that the Company achieved a Sales Turnover of Rs.235.004 Millions during the financial year 31.03.2010 as against Rs. 197.728 Millions of last year. The bottom line of the company is back in Black from the last year’s Red as the Profit before Tax for the current year has zoomed to Rs.8.198 Millions as against Loss of Rs. 20.897 Millions of last year.

BUSINESS OUTLOOK FOR THE CURRENT FINANCIAL YEAR

The Automobile Industry continues to grow resulting in increase in demand and the demand for Automobile components also continues to grow. As is evident from the current book position, the company has recorded the growth of 18.85 % on sales, over the Last year.

NOTES ON ACCOUNTS

Contingent Liabilities:

(i) Guarantees issued by the Company for Rs.1.607 Millions/- (previous year Nil) for the M/s BNT Motors (Private) Limited and M/s Talbros (Private) Limited to the Sales Tax department as surety.

Bankers Charges Report as per Registry

Corporate identity number of the company	U51909DL1960PLC003193
Name of the company	SUPER SEALS (INDIA) LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat No. 114, First Floor, Local Shopping Complex, Pocket- D and E, Sarita Vihar, New Delhi-110076, India
This form is for	Creation of Charge
Type of charge	Immovable Property Others
Particular of charge holder	Syndicate Bank, SME Branch, Sector-18, Noida-201301, Uttar Pradesh, India susheelgupta@hotmail.com
Nature of instrument creating charge	Composite Hypothecation Agreement General Agreement Board Resolution Sanction Letter
Date of instrument Creating the charge	27.08.2010
Amount secured by the charge	Rs. 2.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest shall be charged @ 13.75% p.a. on monthly rest being Bank’s base rate + 5.50% Terms of Repayment Loan is repayable in 35 EMIs including one month holiday period Margin 30% Extent and Operation of the charge First charge to secure STL (Short Term Loan – OSL) of Rs. 2.000 Millions
Short particulars of the property charged	Plant and Machinery to be purchased and existing to composite hypothecation Agreement. EMDTD of company’s immovable property being land and building located at 12/1, Mile Stone, Mathura Road, Faridabad, Haryana along with present / future super structure theron.

Fixed Assets:

· Freehold Land

· Building

· Plant and Machinery

· Electrical Fittings

· Vehicles

· Computers

· Furniture and Fixture

· Office Equipments

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.44.37
UK Pound	1	Rs.70.84
Euro	1	Rs.62.96

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.