1. Summary Information

		Country	India
Company Name	AUTOLITE (INDIA) LIMITED	Principal Name 1	Mr. Mathi Gupta
Status	Moderate	Principal Name 2	Mr. Snehil Kumar
		Registration #	001738
Street Address	D-469, Road No.9-A, Vishwakarma Industrial Area, Jaipur-302013, Rajasthan, India
Established Date	30.06.1977	SIC Code	--
Telephone#	91-141-2333994	Business Style 1	Manufacturer
Fax #	91-141-2330426	Business Style 2	Exporter
Homepage	www.autopal.com	Product Name 1	Auto Motive Headlamps
# of employees	--	Product Name 2	Halogen Bulbs
Paid up capital	Rs.94,634,947/-	Product Name 3	Machines
Shareholders	Promoter Holding – 43.99% Public Holding – 56.01%	Banking	Kotak Mahindra Bank
Public Limited Corp.	Yes	Business Period	34 years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	B (29)
Related Company
Relation	Country	Company Name	CEO
Subsidiaries	USA	Autopal Inc	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	371,478,000	Current Liabilities	163,455,000
Inventories	56,324,000	Long-term Liabilities	190,193,000
Fixed Assets	201,135,000	Other Liabilities	--
Deferred Assets	--	Total Liabilities	353,648,000
Invest& other Assets	22,784,000	Retained Earnings	497,349,000
		Net Worth	298,073,000
Total Assets	651,721,000	Total Liab. & Equity	651,721,000
Total Assets (Previous Year)	792,096,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	902,485,000	Net Profit	(9,641,000)
Sales(Previous yr)	735,935,000	Net Profit(Prev.yr)	(1,277,000)

MIRA INFORM REPORT

Report Date :

03.03.2011

IDENTIFICATION DETAILS

Name :	AUTOLITE (INDIA) LIMITED
Registered Office :	D-469, Road No.9-A, Vishwakarma Industrial Area, Jaipur-302013, Rajasthan.
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.06.1977
Com. Reg. No.:	11-001738
CIN No.: [Company Identification No.]	L31506RJ1977PLC001738
TAN No.: [Tax Deduction & Collection Account No.]	JPRA00292F
Legal Form :	A Public limited liability company. The company shares listed to the stock exchange
Line of Business :	Manufacturer and Exporter of Automotive Lighting Components.

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 1100000
Status :	Moderate
Payment Behaviour :	Slow
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. 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 :	D-469, Road No.9-A, Vishwakarma Industrial Area, Jaipur-302013, Rajasthan, India
Tel. No.:	91-141-2333994
Fax No.:	91-141-2330426
E-Mail :	investors@autopal.com
Website :	www.autopal.com
Work Office :	E-256-530, RIICO Industrial Area, Sitapura, Jaipur, Rajasthan, India Pravati Nagar, Kings Road, Ajmer Road, Jaipur, Rajasthan, India

DIRECTORS

As On : 31.03.2010

Name :	Mr. Dharam Pal Gupta
Designation :	Chairman
Name :	Mr. Mathi Pal Gupta
Designation :	Managing Director
Name :	Mr. Amit Mahipal Gupta
Designation :	Wholw Time Director
Name :	Mr. Adarsh Mahipal Gupta
Designation :	Whole Time Director
Name :	Mr. Gauri Shankar Das
Designation :	Director
Name :	Mr. Suraj Prakash Batra
Designation :	Director
Name :	Mr. Kuldeep Kumar Gupta
Designation :	Director
Name :	Mr. Snehil Kumar
Designation :	Director
Name :	Mr. Rajendra Singh Mehta
Designation :	Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2010

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	2702704	28.58
Bodies Corporate	1456815	15.41
Sub Total	4159519	43.99
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	4159519	43.99
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	16914	0.18
Financial Institutions / Banks	18100	0.19
Corporate Government / State Governments	100	--
Foreign Institutional Investors	9720	0.10
Sub Total	44834	0.47
(2) Non-Institutions
Bodies Corporate	116407	11.81
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	2414236	25.53
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	1429887	15.12
Any Others (Specify)	291358	3.08
Clearing Members	47235	0.50
Non Resident Indians	19635	0.21
Trusts	224488	2.37
Sub Total	5251888	55.54
Total Public shareholding (B)	5296722	56.01
Total (A)+(B)	9456241	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Automotive Lighting Components.

Products :

ITC CODE	PRODUCT
85122010	Auto Motive Headlamps
85392120	Halogen Bulbs
84751000	Machines
82073000	Dies and Moulds

PRODUCTION STATUS (As On 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Auto Head Lamps, Sealed Beams, Reflectors and their spares	Nos.	NA	6600000	3537339
Halogen Lamps, Halogen Bulbs, Diachronic mirror	Nos.	35000000	9000000	6587879

GENERAL INFORMATION

Customers :

· TATA

· Mahindra

· Eicher

· Ashok Leyland

· Escorts

· Mahindra Navistar

· BEML

· AMW

· Case

· JCBL Group Company

Bankers :

Kotak Mahindra Bank Limited, Sardar Patel Marg, C-Scheme, Jaipur-302001, Rajasthan, India

Facilities :

SECURED LOAN	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Rajasthan Financial Corporation	57.365	64.500
(Mortgage loan against Industrial Land and Building situated at E-526 to 530 RIICO Industrial Area Sitapura, Jaipur)
Kotak Mahindra Bank Limited
Cash Credit Secured by way of and exclusive charge on all existing and future current assets movable assets and plant and machinery of the Company	0.000	12.355
Packing Credit Limit Secured by way of equitable charge on the land & building situated at VKI Area Jaipur	59.013	55.284
Working Capital Demand Loan Secured by way of equitable charge on land and building situated at Mahar House, Jaipur	18.360	6.832
Vehicle Loan
Secured against Vehicle	3.621	5.986
Interest Accrued and Due on secured loan	0.813	0.767
Total	139.172	145.725
UNSECURED LOAN	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Fixed Deposits	9.187	9.972
Other Loans and Advances :
1) From Banks
2) From Others :
a) Directors	0.000	1.210
b) Share Holders	0.000	1.346
c) Others	26.200	0.000
Interest Accrued and Due	15.634	15.837
Total	51.021	28.365

Banking Relations :	--
Auditors :
Name :	M/s H. C. Garg and Company Chartered Accountant
Address :	3, Gangwal Park, Jaipur-302003, Rajasthan, India
Subsidiaries :	Autopal Inc, USA
Group Company :	· Autolite India Limited · Autolite Manufacturing Limited · Palsoft Infosystems Limited · Mamraj Sons Auto Limited · Tanishka Auto Components Private Limited · Alwar Lamps Private Limited · Luxpal Miniature Bulb Industries

CAPITAL STRUCTURE

As On : 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs. 10/- each	Rs. 300.000 millions
10000000	Redeemable Preference Shares	Rs. 10/- each	Rs. 100.000 millions
	Total		Rs. 400.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9456241	Equity Shares	Rs. 10/- each	Rs. 94.562 millions
Add	Share Forfeiture		Rs. 0.072 million
	Total		Rs. 94.635 millions

Note : Out of which 34,110 Equity Shares of Rs. 101- each fully paid-up issued for consideration other than cash

pursuant to agreement for acquiring the running business of M/S. Autolite of India, a Partnership firm

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		94.635	94.635	80.635
2] Share Application Money		0.000	9.738	65.488
3] Reserves & Surplus		497.349	487.615	434.681
4] (Accumulated Losses)		(293.911)	(286.969)	(288.355)
NETWORTH		298.073	305.019	292.449
LOAN FUNDS
1] Secured Loans		139.172	145.725	113.312
2] Unsecured Loans		51.021	28.365	49.927
TOTAL BORROWING		190.193	174.090	163.239
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		488.266	479.109	455.688
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		201.135	234.437	251.002
Capital work-in-progress		15.294	10.371	0.000
INVESTMENT		3.008	4.239	4.310
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	56.324	64.347	66.248
	Sundry Debtors	63.622	65.563	151.148
	Cash & Bank Balances	19.516	22.699	16.093
	Other Current Assets	68.805	35.368	16.084
	Loans & Advances	219.535	195.073	164.639
Total Current Assets		427.802	383.050	414.212
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	106.446	93.376
	Other Current Liabilities	41.215	47.044	188.080
	Provisions	15.794	16.074	26.971
Total Current Liabilities		163.455	156.494	215.051
Net Current Assets		264.347	226.556	199.161
MISCELLANEOUS EXPENSES		4.482	3.505	1.215
TOTAL		488.266	479.109	455.688

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	902.485	735.935	905.741
		Other Income	32.193	23.344	13.404
		Transfer from Capital Reserve	0.004	0.005	0.006
		TOTAL (A)	934.682	759.284	919.151
Less	EXPENSES
		Raw Material Consumed	436.209	391.367	470.299
		Purchase of Finished Goods	206.606	121.007	115.266
		Payment to and Provision for Employees	60.224	53.922	54.009
		Manufacturing Expenses	68.401	53.023	70.240
		Deferred Revenue Expenses W/Off	0.823	0.305	0.305
		Increase/(Decrease) in Finished Goods	17.133	(14.198)	1.304
		Selling and Distribution Expenses	57.544	54.932	60.732
		Administrative Expenses	16.383	18.750	20.139
		TOTAL (B)	863.323	679.108	792.294
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		71.359	80.176	126.857
Less	FINANCIAL EXPENSES (D)		27.226	32.383	22.287
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		44.133	47.793	104.570
Less/ Add	DEPRECIATION/ AMORTISATION (F)		38.662	41.958	32.734
	PROFIT BEFORE TAX (E-F) (G)		5.471	5.835	71.836
Less	TAX (H)		15.112	7.112	22.991
	PROFIT AFTER TAX (G-H) (I)		(9.641)	(1.277)	48.845
Add	Provision of Earlier Years Written Back		2.698	2.664	18.746
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(286.969)	(288.355)	(355.944)
	BALANCE CARRIED TO THE B/S		(293.912)	(286.969)	(288.355)
	Export Value		242.997	247.276	270.950
	IMPORTS
		Raw Materials	32.658	25.341	39.250
		Capital Goods	4.405	0.000	0.000
	TOTAL IMPORTS		37.063	25.341	39.250

QUARTERLY RESULTS

(Rs. In Millions)

PARTICULARS	30.06.2010	30.09.2010	31.12.2010
	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	247.200	238.700	252.400
Total Expenditure	233.600	223.900	236.500
PBIDT (Excl OI)	13.600	14.800	15.900
Other Income	3.800	3.200	2.700
Operating Profit	17.400	18.000	18.600
Interest	6.600	6.900	6.700
Exceptional Items	0.000	0.000	0.000
PBDT	10.800	11.100	11.900
Depreciation	9.300	9.500	9.800
Profit Before Tax	1.500	1.600	2.100
Tax	0.000	0.000	0.000
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	1.500	1.600	2.100
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	1.500	1.600	2.100

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(1.03)	(0.17)	5.31
Net Profit Margin (PBT/Sales)	(%)	0.61	0.79	7.93
Return on Total Assets (PBT/Total Assets}	(%)	0.87	0.94	10.80
Return on Investment (ROI) (PBT/Networth)		0.02	0.02	24.56
Debt Equity Ratio (Total Liability/Networth)		1.19	1.08	1.29
Current Ratio (Current Asset/Current Liability)		2.62	2.45	1.93

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS

During the financial year ended on March 31.2010, the company achieved gross sales turnover of Rs. 955.816 millions as against Rs. 803.155 millions during the corresponding financial year ended on March 3 1,2009 thus registering a growth of 19%. Company had net gain before extra-ordinary items of Rs. 5.472 millions as compared to Net gain of Rs. 5.835 millions in 2008-09. The drop in profit margins was on account of increase in raw material prices and other inputs. The company has made significant growth in domestic sales segment and it contributed 74.14% in 2009-10 as compared to 68.89% in 2008-09. The Company achieved export sales of Rs. 247.828 millions during the year 2009-10 as against Rs. 254.089 millions in 2008-09.

The Company suffered loss when its plant which is situated at Sitapura was shut down for a period of more than a month on account of Fire Disaster occurred at Indian Oil Corporation Depots. The property of the company situated at Sitapura was affected on account of fire disaster and Company is pursuing the insurance company for the settlement of the claim. Also, the impact of downward trend of foreign currency on export earnings cannot be

Ruled out for the less profits.

UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE FOURTH QUARTER ENDED 31.12.2010

(Rs. in millions)

Sl. No.		Particulars	Quarter Ended	Quarter Ended
			31.12.2010	31.12.2010
			(Un-audited)	(Un-audited)
1.	(a)	Gross Sales / Income from Operations	268.800	790.000
	(b)	Other Operating Income	2.700	9.700
		Total Revenue	271.500	799.700
2.		Total Expenditure
	(a)	(Increase) /Decrease in Stocks	(4.900)	(17.100)
	(b)	Consumption of Raw Materials	123.500	371.500
	(c)	Purchases of Goods	59.200	172.900
	(d)	Employees Cost	15.400	44.200
	(e)	Depreciation	9.800	28.600
	(f)	Other Expenditure	5.300	14.400
	(g)	Excise Duty	16.400	51.700
	(h)	Manufacturing Expenses	20.400	58.400
	(i)	Selling and Distribution Expenses	17.600	49.700
	(j)	Total {2(a) to 2(f)}	262.700	774.300
3.		Interest	6.700	20.200
4.		Net Profit(+) / Loss (-) after Interest but before Extra Ordinary Items and Taxes (5-6)	2.100	5.200
5.		Extra Ordinary Income (+)/ Expenses (-) (Net)	--	--
		Others
6.		Profit(+) / Loss (-) before Tax (7-8)	2.100	5.200
7.		Provision for Taxation	--	--
8.		Net Profit (+) / Loss (-) (9-10)	2.100	5.200
9.		Paid-up Equity Share Capital	94.600	94.600
		(Face Value per Share ` 10/-Each )
10.		Reserves excluding Revaluation Reserves	--	--
11.		EPS (` per share):
		Basic	0.22	0.55
		Diluted	0.22	0.55
12		Public Shareholding
		- No. of Shares	5296722	5296722
		- Percentage of Shareholding	56.01	56.01
13		Promoter's and Promoter Group Shareholding:
	(a)	Non-encumbered
		- No. of Shares	4159519	4159519
		- Percentage of Shares(as % of the Total Shareholding of the Promoter's and Promoter Group)	100.00%	100.00%
		- Percentage of Shares(as % of the Total Share Capital of the Company)	43.99%	43.99%

Notes :

1. The above results have been taken on record by the Board d Directors at it. meeting held on 28^th May, 2010.

2. No. of Investors' Complaints pending at the beginning of the quarter - Nil, No. of Complaints received during the quarter - Nil, No. of complaints resolved - Nil and pending at the end of the quarter - Nil.

3. The figures have been regrouped wherever necessary.

4. Since the major operations of the company relates to one segment namely Automotive Components and therefore reporting for business segment as per Accounting Standard 17 on segment reporting is not applicable. Reporting for geographical segment will be given at year end.

5. With regard to Auditors' observation regarding disqualification of directors under Section 274(1)(g), the Company has repaid all the debenture and also redeemed the preference shares and the management plans to remove the

6. Qualification of non-payment of public fixed deposits in the phased manner.

7. With regard to Auditors' observation regarding non-provision of bad and doubtful loans and advances, the management plans to recover the same in a phased manner.

8. The impact of defined benefit plan for gratuity and leave encashment will be provided at the year end.

WEB SIDE DETAILS

About us

Autolite Group is a focused, dynamic and progressive group providing customers with Innovative Products at economic Prices.

The Group has core competencies in manufacturing of Automotive Head Lamps, Work Lamps, LED Lamps, Fog Lamps, Turn Signal Lamps, Halogen Bulbs, Incandescent Bulbs and Miniature Bulbs. These competencies are supported by specialization in Engineering Design, Information Technology, Tool Manufacturing and Machine Building

GROUP COMPANIES

Autolite (India) Limited

>> Autolite (India) Limited is the flagship company of the Autolite Group and was established in 1970. It is listed on BSE and NSE. It has Three Major Business Divisions

>> Head Lamp Division: Accredited with TS-16949, ISO 14001, OHSAS 18001 and ISO 9001.

>> Halogen Lamp Division: Accredited with TS-16949, ISO 14001, OHSAS 18001 and ISO 9001.

>> Special Purpose Machines Division Autolite Manufacturing Limited

>> Established in 2006 with Manufacturing Location at Pantnagar, Its major Activities Includes Automotive Lighting Products for Indian OEM’s and After Market. Accredited with ISO 14001, OHSAS 18001 and ISO 9001

Palsoft Infosystems Limited

>> A BSE Listed Software Development Company focussing on ERP on Automotive Industry and Product Development Solutions using CAD / CAM.

Mamraj Sons (Auto) Limited

>> Associate Company of the Group, serving the other companies with Sheet Metal Components. An ISO-9001 Company.

Tanishka Auto Components (Private) Limited

>> Incorporated in 2010, the focus of the company is to manufacture plastic moulding components and assemblies for automotive industry.

Tanishka Auto Components (Private) Limited

>> Incorporated in 2010, the focus of the company is to manufacture plastic moulding components and assemblies for automotive industry.

Alwar Lamps (Private) Limited

>> Associate Company of the Group having Manufacturing Setup for Incandescent Lamps in Jaipur catering to OEM / Branding Segments. ISO -9001 Certified

Luxpal Miniature Bulb Industries

>> Associate Company of the Group having Manufacturing Setup for Miniature Lamps in Jaipur catering to OEM / Branding Segments. ISO-9001 & ISO 14001 Certified.

BOARD OF DIRECTORS

Shri Mahi Pal Gupta (Chairman and Managing Director)

Shri Mahi Pal Gupta is Diploma in Mechanical Engineering and is the main Promoter of the company. He Founded proprietorship Concern M/s. Autolite of India which grew up to the current level of M/s. Autolite (India) Limited. He has rich and vast experience of over 40 years especially in the areas of Product Development, R and D, Value Engineering, Finance and Administration etc. Under his guidance, the company developed High Intensity Forward Discharge Lamp especially for the US market and more than 120 other types of Head Lamps. He has also been instrumental in setting up an in-house R and D center equipped with some of the most sophisticated and advance equipments. He has also participated in a number of Trade Fairs and visited all major markets world over.Shri Mahipal Gupta is a senior member of Association of Electronics

Manufacturing, Machining Technology Association Forming Technology Association, Finishing Processes, Computer and Automated Systems Association of SME, USA, a member of ASM International, USA, IESNA, USA and the US National Committee of the IEC. He himself has Developed First time in India the high energy saving Compact Fluorescent lamps (CFL), Halogen Bulbs, Electronic Transformers, Ballasts, Fixtures, HID Lamps and Special Purpose Machines. Under his guidance three public issues and numerous rights and preferential issues have taken place. 3 companies of the Group are listed in all major stock exchanges in India. He has vast experience in financial sector and has great relations at senior levels in all banks and FI’s. Mr. Gupta has great administration capabilities and is a amazing motivator. His HR skills and leadership qualities are respected by all the employees and stakeholders. He is trained for Lean Six Sigma and World Class Manufacturing Practices and is the main guiding force behind these activities in the group. Mr. Gupta commands high respect from all the customers and Suppliers and has great relationships with them. He is well regarded as the “Face of Autopal Group”.

Mr. Amit Mahipal Gupta (Director)

Mr. Amit Mahipal Gupta holds a Bachelor’s Degree in Engineering from MIT, Aurangabad and is the brainchild for echnology in the group. He has vast experience in Product Development, CAD / CAM / CAE. He has been trained in CAD / CAM from Autodesk (USA) and PTC (USA). He has also been trained for Labview Automation, PLC Controllers, Robotics and Vision Systems by National Instruments (USA).Under his leadership many new products got unfolded in Autopal Group. He has extensively travelled World over for Technology, Market Surveys and Plant Visits. He has deep knowledge of the lighting source and fixtures and has been instrumental force behind Development of Metal Halide Lamps, New Generation Halogen Bulbs, Special Purpose Machines and Multi Surface Reflector Lamps. He has one patent registered under his name for Head Light Levelling. He is also Managing Director of the Software

Development Company M/s. Palsoft Infosystems Limited. He has 10 years experience in Manufacturing and Exports of Automotive Head Lamps, Halogen Bulbs and Compact Fluorescent Lamps. He is trained for Lean Six Sigma and World Class Manufacturing Practices by Confederation of Indian Industry (CII) and Automotive Components Manufacturing Association (ACMA). He plays a instrumental part in strategy preparation for the group. Currently his responsibilities include Manufacturing of Halogen Lamps, Compact Fluorescent Lamps, Special Purpose machines (CNC) and Also Product development and technical issues of entire Autopal Group. He is also responsible for International Sourcing initiatives and was instrumental for setting up Company Sourcing office in Shanghai (China)

Mr. Adarsh Mahipal Gupta (Director)

Mr. Adarsh Mahipal Gupta holds a Bachelor’s Degree in Commerce from University of Rajasthan and Post Graduate Diploma in Business Administration from NMIMS, Mumbai. Since his College time he is actively involved in Family Business wherein with his brother he started Software Development business M/s. Palsoft Infosystems Limited and Trading of Auto components under the main company M/s. Autolite (India) Limited. He has 8 years experience in Manufacturing and Exports of Automotive Components. He has two patents registered under his name for Halogen Bulb Manufacturing. Mr Gupta is also the Co-Convenor of the Panel on Economic Affairs and SME’s and is also State Council Member at Confederation of Indian Industry (CII) Rajasthan. He has extensively travelled World over for Technology, Market Surveys, Customer Visits and Plant Visits. He has taken parts in all major automotive and.

Technology fairs across the globe. Being the founder member of the Young Business Leaders Forum (YBLF) a wing of Automotive Components Manufacturing Association (ACMA) he is well known and respected within Indian Automotive Component Industry He is trained for Lean Six Sigma and World Class Manufacturing Practices by CII and ACMA. He was instrumental in financial turnaround and re-engineering of the group by restructuring of Banks and FII’s. Mr. Gupta is also Promoter and Managing Director of Autolite Manufacturing Limited, Having Manufacturing Facilities at Pantnagar for Automotive Lighting. He has setup the plant since inception and is fully responsible for all activities of this Company including Marketing till date. He is also responsible for Corporate Finance, Legal, Excise and Strategy Formulation of the Group. He has good relations with Export Market Customers as he attends all major trade fairs on behalf of the company and also has good personal rapport with senior executives of leading Banks, FI’s and Broking Houses.

Shri Gauri Shankar Das (Independent Director)

Shri Gouri Shankar Das, is M.Sc. & CAIIB had a brilliant academic record throughout. Having joined as a Probationary Officer in 1963, he held senior management positions in nationalized banks till his retirement as General Manager (Operations) of State Bank of Bikaner and Jaipur. He has rich and vast experience of over 35 years in the areas of Credit, Financial Management, Behavioral Output, General Administration, Advanced Management Techniques etc. He was also deputed for training outside the country on a number of occasions under the aegis of Asian Development Bank, World Bank etc. He was also a Nominee Director of SBBJ on the Boards of NITCON and RAJCON and also a member representing the coordinating Bank i.e. SBBJ on the Board of Banking Service Recruitment Board, Jaipur.

Shri Snehil Kumar (Independent Director)

Shri Snehil Kumar is a TQM counselor based in Jaipur. He is an engineer with over 10 years of experience as practicing manager in Tata Steel and 13 years of counseling with organizations as part of CII and as an independent counselor. He has counseled over 100 companies to steer them towards organizational excellence including Deming award winning organizations. He is a JIPM TPM trained consultant, trained in TQM from Japanese Union of Scientists and Engineers (JUSE). He has been trained in TOC by Goldratt Institute. He worked as TQM counselor with TQM Division of CII and as TPM counselor with TPM club of India for a span of seven years. His field of activities includes counseling on creating Daily Management infrastructure and assist implementation of Lean and TPM principles in the organizations. He has been assisting companies on their Deming Journey.

He has also been actively involved in working with governmental organizations for improving services. He is a visitingfaculty at Lal Bahadur Shastri National Academy of administration, Mussorie. He is recipient of LEAD fellowship for the year 2008-09. He has co founded a counseling network called “Partners-in-change” to provide hands on assistance to companies on their turnaround initiatives. He is president of “EKJUT”, an NGO providing social health services in districts of Jharkhand and Orissa. He is a member of Remuneration Committee of the Board of Directors.

Shri R.S. Mehta (Independent Director)

Shri Rajendra Singh Mehta, an M.B.A. from the Indian Institute of Management, Ahmedabad, also has Post Graduate Diploma in Foreign Trade. He was awarded Tata Exports Merit Scholarship also. He has undertaken numerous tudies in the area of HRD and other organizational studies in the corporate sector and participated in numerous Management Development Programmes / seminars and conferences at national and international levels. Shri Rajendra Singh Mehta has over 43 years of work experience in reputed rganizations in senior managerial positions, the last one being the Vice President (HR) with Aditya Birla Group. His areas of specialization include HRD (with special emphasis on Training and Development), Personnel Management, Industrial Relations, General Administration etc.. He is a member of Investors Grievance Committee and Remuneration Committee

Shri Sooraj Prakash Batra (Independent Director)

Is a B.E. (Mech.) and a Fellow of Institution of Engineers (India), MIMA MIIIE. He has also done professional courses in Total Quality Management for Top Management from BITS/UNIDO, Sweden, Advance Management Programme (AMP) from the Indian Institute of Management, Ahmadabad, Special course on Production Control and Management from University of Rorkee etc. He also participated in World Quality Congress thrice. He worked for organizations like Railway Board, Director General Ordnance Factories, Burn Standar Co. (Addl. GM), A.K.S. Bearings Ltd. (Production Chief) , Kamal Enterprises (ED) and Cycle Corporation of India (CMD). Currently, he is Director (Training and Development) at the Indian Institute of Rural Management. He has also been making egular contribution to the Technical Journals and other publications. He is a member of the Audit Committee of the Board of Directors.

Shri Kuldeep Kumar Gupta (Independent Director)

Shri Kuldeep Kumar Gupta, Chartered Accountant (CA), Cost Accountant (ICWA) and Company Secretary (CS). He is having 26 years experience in financial sector in different companies. He is having his own practice of Chartered Accountancy since last 20 years and is associated with loan syndication with bank/financial institutions. He is the member of the Audit Committee of the Board of Directors of the Company.

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.45.12
UK Pound	1	Rs.73.43
Euro	1	Rs.62.32

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	4
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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	YES
--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.