MIRA INFORM REPORT

Report Date :

01.11.2011

IDENTIFICATION DETAILS

Name :	SMITA CONDUCTORS LIMITED
Registered Office :	1402/ 3, Raheja Center, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	22.04.1971
Com. Reg. No.:	11-015121
Capital Investment / Paid-up Capital :	Rs.20.000 Millions
CIN No.: [Company Identification No.]	U32104MH1971PLC015121
TAN No.: [Tax Deduction & Collection Account No.]	MUMS35548C
PAN No.: [Permanent Account No.]	AAACS5379K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of A.A.C. and A.C.S.R. Conductors.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 2480000
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.

INFORMATION PARTED BY

Name :	Mr. Vimal Chaudiwala
Designation :	Accounts Manager
Contact No.:	91-22-22868640
Date :	31.10.2011

LOCATIONS

Registered/ Corporate Office :	1402/ 3, Raheja Center, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22871059/ 22820240 (5 Lines)/ 61588300
Fax No.:	91-22-22875380
E-Mail :	info@smitaconductors.com scl@vsnl.com scl@smitaconductors.com
Website :	http://www.smitaconductors.com
Area :	4500 sq ft
Location :	Owned
Factory 1 :	Vithalwadi, Ulhasnagar, Maharashtra, India
E-Mail :	scivith@smitaconductors.com
Area :	10000 sq ft
Location :	Owned
Factory 2 :	Survey No.8, Village Khutali, Khanvel-Doodhani Road, Tehsil Khanvel, District Silvassa – 396 230, India
Tel. No.:	91-260-2677640
Fax No.:	91-260-2677641
Factory 3 :	Kot, Arya Nagar, Ghaziabad – 201 001, Uttar Pradesh, India
Tel. No.:	91-120-2861130 / 2861131
Fax No.:	91-120-2861132
E-Mail :	sclghz@smitaconductors.com

DIRECTORS

As on 30.08.2010

Name :

Mr. Bharatkumar Taparia

Designation :

Director

Address :

68A, Rungta House, Nepeansea Road, Mumbai – 400 021, Maharashtra, India

Date of Birth/Age :

05.08.1946

Date of Appointment :

22.04.1971

DIN :

 00110844

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	U01405MH1943PLC010318	TAPARIA LIMITED	Director	7/8/1964	7/8/1964	Active	NO
2	U29190MH1940PTC003118	NARENDRA UDYOG PVT LIMITED	Director	27/08/1964	27/08/1964	Active	NO
3	U32104MH1971PLC015121	SMITA CONDUCTORS LIMITED	Director	22/04/1971	22/04/1971	Active	NO
4	U65990MH1974PTC017736	DEVASHISH INVESTMENTS PRIVATE LIMITED	Director	30/08/1974	30/08/1974	Active	NO
5	U67120MH1974PTC017931	TAPARIA INVESTMENTS PRIVATE LIMITED	Director	21/11/1974	21/11/1974	Active	NO
6	U27200MH1979PTC021078	ADITI HOLDINGS PRIVATE LIMITED	Director	1/3/1979	1/3/1979	Active	NO
7	U67129MH1981PTC024036	DIVYA HOLDINGS PRIVATE LIMITED	Director	9/3/1981	9/3/1981	Active	NO
8	U51900MH1985PLC035161	SIMCO TRADING AND FINANCE COMPANY LIMITED	Director	3/5/1993	3/5/1993	Active	NO
9	U45200MH2003PTC141941	SHANGRILA PROPERTIES PRIVATE LIMITED	Director	29/08/2003	29/08/2003	Active	NO
10	U65990MH1960PTC011852	KIRAN INVESTMENT COMPANY PRIVATE LIMITED	Director	30/09/2009	30/09/2008	Active	NO

Name :

Mr. Himmatmal Rajmal Jain

Designation :

Director

Address :

502, Bhanu Vinayak, 18^th Road, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

10.07.1944

Date of Appointment :

02.12.1996

DIN :

00083344

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	U36911MH1990PTC058153	SMITA MARKETING PRIVATE LIMITED	Director	13/09/1990	13/09/1990	Active	NO
2	U51900MH1990PTC058151	NEERJA TRADERS PRIVATE LIMITED	Director	13/09/1990	13/09/1990	Active	NO
3	U36911MH1990PTC058154	KUMAR COMMERCIALS PRIVATE LIMITED	Director	13/09/1990	13/09/1990	Active	NO
4	U51990MH1990PTC058152	ADITI IMPEX PRIVATE LIMITED	Director	13/09/1990	13/09/1990	Active	NO
5	U32104MH1971PLC015121	SMITA CONDUCTORS LIMITED	Director	2/12/1996	2/12/1996	Active	NO
6	U45200MH2003PTC141941	SHANGRILA PROPERTIES PRIVATE LIMITED	Director	29/08/2003	29/08/2003	Active	NO
7	U99999MH1939PLC003031	ESTRELA BATTERIES LIMITED	Director	25/09/2008	20/08/2008	Active	NO

Name :

Mr. Veerendraraj Prakashraj Singhvi

Designation :

Additional Director

Address :

16, Nanda Deep, Tai Pingle Chowk, Tilak Road, Dombivli [East], Thane-421 201, Maharashtra, India

Date of Birth/Age :

28.06.1954

Date of Appointment :

11.09.2009

DIN :

02818766

Name :

Mr. Shyam Malpani

Designation :

Additional Director

Address :

701, Karan, 7^th Floor, Plot No. 117, Lokhandwala Complex, Andheri (West), Mumbai-400 053, Maharashtra, India

Date of Birth/Age :

19.03.1959

Date of Appointment :

11.09.2009

DIN :

00205471

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	L01407MH1988PLC049645	NOUVEAU GLOBAL VENTURES LIMITED	Director	2/11/1993	2/11/1993	31/03/2008	Active	NO
2	U67120MH1994PLC082203	NOUVEAU SHARES AND SECURITIES LIMITED	Director	27/02/1995	27/02/1995	-	Active	NO
3	U65990MH1996PTC097216	NABEELA FINVEST PRIVATE LIMITED	Director	13/02/1996	13/02/1996	-	Active	NO
4	U65920MH1996PTC097878	ORIANA FINVEST PRIVATE LIMITED	Director	6/3/1996	6/3/1996	-	Active	NO
5	U17120MH1987PTC042769	TIGER TEXTURISING PRIVATE LIMITED	Director	8/5/1996	8/5/1996	-	Active	NO
6	U28129MH1989PTC054751	VISHWALAKSHMI PACKAGING PRIVATE LIMITED	Director	8/5/1996	8/5/1996	-	Active	NO
7	U67120RJ1994PTC008814	INNOVATIVE SECURITIES PRIVATE LIMITED	Director	9/5/1996	9/5/1996	-	Active	NO
8	U67120MH1994PTC082215	WINDFIELD STOCKS AND SECURITIES PRIVATE LIMITED	Director	10/5/1996	10/5/1996	18/11/2008	Active	NO
9	U45200MH1994PTC081998	KEYSTONE PROPERTIES PRIVATE LIMITED	Director	15/04/1997	15/04/1997	2/1/2008	Active	NO
10	U52392MH2000PTC125472	UTKRISHT INFOTECH PRIVATE LIMITED	Director	2/11/2000	2/11/2000	12/9/2007	Active	NO
11	U51900MH1999PTC122627	FLEX EXIM PRIVATE LIMITED	Director	2/11/2000	2/11/2000	22/08/2010	Active	NO
12	U74140MH2002PTC134672	MALPANI AND ASSOCIATES PRIVATE LIMITED	Director	24/01/2002	24/01/2002	-	Active	NO
13	U65900MH1996PTC100056	YULE FINANCE PRIVATE LIMITED	Director	24/05/2002	24/05/2002	15/05/2007	Active	NO
14	U72200MH2004PTC147611	OLIVE OUTSOURCING PRIVATE LIMITED	Director	25/09/2004	25/09/2004	8/2/2011	Active	NO
15	U70101MH2006PTC161264	WHITE GOLD PROPERTIES PRIVATE LIMITED	Director	2/5/2006	2/5/2006	18/02/2010	Active	NO
16	U93090KA2006PTC055650	NAVBHARAT GLOBAL SERVICES PRIVATE LIMITED	Additional director	16/04/2007	16/04/2007	19/02/2008	Active	NO
17	U74140MH2007PTC168147	BUSSOLUTIONS CONSULTANCY SERVICES PRIVATE LIMITED	Director	20/04/2007	20/04/2007	-	Amalgamated	NO
18	U45400MH2006PTC160586	MAJESTIC INFRACON PRIVATE LIMITED	Additional director	24/04/2007	24/04/2007	16/09/2008	Active	NO
19	U74992MH2006PTC163071	ETISALAT DB TELECOM PRIVATE LIMITED	Additional director	24/04/2007	24/04/2007	17/09/2008	Active	NO
20	U65900MH1996PTC098895	SIKHA FINANCE AND LEASING PRIVATE LIMITED	Director	2/7/2007	2/7/2007	-	Active	NO
21	U72200MH2007PTC168976	AACHMAN SOFT-TECH PRIVATE LIMITED	Director	15/09/2008	20/07/2007	18/02/2010	Active	NO
22	U32109MH2007PTC168428	AAINA SOFT-TECH PRIVATE LIMITED	Director	29/09/2007	20/07/2007	18/02/2010	Active	NO
23	U72200MH2007PTC168972	SWAN FINANCE MANAGEMENT PRIVATE LIMITED	Director	15/09/2008	3/10/2007	18/02/2010	Active	NO
24	U45400MH2007PTC175138	DB STRUCTURES AND BUILDERS PRIVATE LIMITED	Director	17/10/2007	17/10/2007	10/8/2010	Active	NO
25	U72900MH2007PTC174827	FORTRESS INFOTECH PRIVATE LIMITED	Director	30/09/2008	10/11/2007	18/02/2010	Active	NO
26	U72501MH2007PTC174878	FORTRESS SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	30/09/2008	10/11/2007	18/02/2010	Active	NO
27	U72900MH2007PTC174864	NORTHSTAR SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	30/09/2008	10/11/2007	18/02/2010	Active	NO
28	U72200MH2007PTC175962	PETRON CONTRACTORS PRIVATE LIMITED	Director	17/11/2007	17/11/2007	15/04/2008	Active	NO
29	U72900MH2007PTC175961	ELDER IT SOLUTIONS PRIVATE LIMITED	Director	17/11/2007	17/11/2007	15/04/2008	Active	NO
30	U72900MH2007PTC175960	ELDER INFOTECH PRIVATE LIMITED	Director	17/11/2007	17/11/2007	15/04/2008	Active	NO
31	U72200MH2007PTC175995	KENT IT SOLUTIONS PRIVATE LIMITED	Director	20/11/2007	20/11/2007	15/04/2008	Amalgamated	NO
32	U72200MH2007PTC175996	ELDER TECHNOLOGIES PRIVATE LIMITED	Director	20/11/2007	20/11/2007	15/04/2008	Active	NO
33	U72900MH2007PTC175994	ELDER SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	20/11/2007	20/11/2007	15/04/2008	Amalgamated	NO
34	U72200MH2007PTC176000	NORFOLK SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	30/09/2008	20/11/2007	18/02/2010	Active	NO
35	U72900MH2007PTC176001	NORFOLK TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2008	20/11/2007	18/02/2010	Active	NO
36	U72200MH2007PTC175997	NORFOLK IT SOLUTIONS PRIVATE LIMITED	Director	30/09/2008	20/11/2007	18/02/2010	Active	NO
37	U72200MH2007PTC176109	NORFOLK SOFT-TECH PRIVATE LIMITED	Director	30/09/2008	24/11/2007	18/02/2010	Active	NO
38	U72200MH2007PTC176155	KENT INFOTECH PRIVATE LIMITED	Director	27/11/2007	27/11/2007	15/04/2008	Active	NO
39	U72900MH2007PTC176167	MADHURAM SOFT-TECH PRIVATE LIMITED	Director	30/09/2008	27/11/2007	18/02/2010	Active	NO
40	U64202MH2007PTC172373	FORTRESS TELECOM SERVICES PRIVATE LIMITED	Director	30/09/2008	30/11/2007	18/02/2010	Active	NO
41	U64202MH2007PTC172376	NORTHSTAR TELECOM SERVICES PRIVATE LIMITED	Director	30/09/2008	30/11/2007	18/02/2010	Active	NO
42	U74900MH2007PTC172372	RCAP MEDITAINMENT VENTURES PRIVATE LIMITED	Director	29/09/2008	30/11/2007	3/10/2008	Active	NO
43	U51900MH2008PTC182623	SOLARIS TRADING PRIVATE LIMITED	Director	29/09/2009	26/05/2008	18/02/2010	Active	NO
44	U72900MH2008PTC182595	SOLARIS SOFTWARE PRIVATE LIMITED	Director	29/09/2009	26/05/2008	18/02/2010	Active	NO
45	U72900MH2008PTC182573	SOLARIS INFORMATION TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2009	26/05/2008	15/03/2010	Active	NO
46	U45202MH2008PTC182688	PETRON PROJECTS PRIVATE LIMITED	Director	29/09/2009	26/05/2008	18/02/2010	Active	NO
47	U74140MH2008PTC182571	SOLARIS CONSULTANTS PRIVATE LIMITED	Director	29/09/2009	26/05/2008	18/02/2010	Active	YES
48	U80221WB2009NPL134423	LIONS INDIA EDUCATION PROMOTION COUNCIL	Director	6/4/2009	6/4/2009	-	Active	NO
49	U32104MH1971PLC015121	SMITA CONDUCTORS LIMITED	Additional director	11/9/2009	11/9/2009	8/2/2011	Active	NO
50	U65999MH2010PTC206206	JAI SHRI KARNEE MATA INVESTMENTS CONSULTANCY SERVICES PRIVATE LIMITED	Director	3/8/2010	3/8/2010	-	Active	NO
51	U45202MH2009PTC193991	OLEG INFRASTRUCTURE PRIVATE LIMITED	Director	5/8/2010	5/8/2010	-	Active	NO
52	U74140MH2006PTC162861	RELIANCE UTILITY ENGINEERS PRIVATE LIMITED	Additional director	1/12/2010	1/12/2010	3/1/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Vimal Chaudiwala
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.08.2010

Names of Shareholders	No. of Shares
Taparia Investments Private Limited, India	740000
Devashish Investments Private Limited , India	740000
Narendra Udyog Private Limited , India	40000
Aditi Holdings Private Limited , India	480000
Total	2000000

As on 30.08.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of A.A.C. and A.C.S.R. Conductors.
Exports :
Products :	A.A.C. and A.C.S.R. Conductors
Countries :	Kenya
Imports :
Products :	Raw Materials
Countries :	Singapore Iran Bahrain Kenya
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Conductors	M. Tons	31500	21518

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

300 (Approximately)

Bankers :

• Bank of Baroda (Lead Bank), Nariman Point Branch, Foreshore Building, Gen Bhosale Marg, Nariman Point, Mumbai-400 021, Maharashtra, India
• The Bank of Rajasthan Limited, Fort Branch, Mumbai-400 001, Maharashtra, India
• Central Bank of India, Corporate Finance Branch, M. G. Road, Mumbai – 400 023, Maharashtra, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Term loan (Secured against hypothecation of plant and machinery at Silvassa and Ghaziabad)	12.119	0.000
Bank Borrowings For Working Capital
Cash Credit/ Packing Credit/ Working Capital Demand Loan (Secured against hypothecation of stocks of raw material, finished goods and debtors)	50.201	0.000
Car loan (Due within one year Rs.1.257 millions) (Secured against hypothecation of new vehicle)	1.257	4.073
Total	63.577	4.073

Banking Relations :	--
Auditors :
Name :	Karnavat and Company Chartered Accountants
Address :	2 A, Kitab Mahal, 192, Dr. D N Road, Mumbai - 400 001, Maharashtra, India
Tel. No.:	91-22-40666666 (30 Lines)
Fax No.:	91-22-40666660
E-Mail :	karnavattax@gmail.com
PAN :	AAAFK1143L
Related Parties :	BKT HUF Narendra Udyog Private Limited Taparia Limited Estrela Batteries Bharat Neeraja Pariwar Nidhi

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Of the above shares 1950000 shares are allotted as fully paid up Bonus Shares by capitalization of reserves in earlier years.

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		20.000	20.000	20.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		602.360	361.350	284.259
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		622.360	381.350	304.259
LOAN FUNDS
1] Secured Loans		63.577	4.073	46.545
2] Unsecured Loans		0.000	16.000	0.000
TOTAL BORROWING		63.577	20.073	46.545
DEFERRED TAX LIABILITIES		7.791	4.106	3.426
TOTAL		693.728	405.529	354.230
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		111.728	59.729	47.612
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		209.993	195.347	193.159
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	269.145	95.995	122.507
	Sundry Debtors	203.664	141.767	172.961
	Cash & Bank Balances	543.208	370.316	22.291
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	98.016	128.907	58.878
Total Current Assets		1114.033	736.985	376.637
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	547.652	140.330
	Other Current Liabilities	193.018	444.473	263.178
	Provisions	1.356	1.729
Total Current Liabilities		742.026	586.532	263.178
Net Current Assets		372.007	150.453	113.459
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		693.728	405.529	354.230

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Net Sales	2496.682	1049.576	1070.653
		Other Income	57.160	20.664	63.551
		Share of Profit from Partnership Firm	0.427	2.636	0.014
		TOTAL (A)	2554.269	1072.876	1134.218
Less	EXPENSES
		Raw Material Consumed	1980.795	804.100	933.089
		Increase/(Decrease) in Finished Goods Stock	(49.201)	1.589	(24.301)
		Manufacturing and Operating Expenses	91.656	45.627	37.193
		Excise Duty on stock difference of finished goods	9.429	(3.780)	2.495
		Personnel Expenses	47.977	27.533	23.238
		Administrative and Other Expenses	57.543	58.065	27.248
		TOTAL (B)	2138.199	933.134	998.962
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		416.070	139.742	135.256
Less	INTEREST (D)		45.776	18.499	16.479
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		370.294	121.243	118.777
Less/ Add	DEPRECIATION/ AMORTISATION (F)		9.600	5.380	4.851
	PROFIT BEFORE TAX (E-F) (G)		360.694	115.863	113.926
Less	TAX (H)		119.684	38.772	32.876
	PROFIT AFTER TAX (G-H) (I)		241.010	77.091	81.050
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		334.093	257.002	175.952
	BALANCE CARRIED TO THE B/S		575.103	334.093	257.002
	EARNINGS IN FOREIGN CURRENCY
		FOB value of deemed exports	167.020	173.635	NA
		FOB value of exports	74.219	205.194
	TOTAL EARNINGS		241.239	378.829	NA
	IMPORTS VALUE		419.162	74.899	71.952
	Earnings Per Share (Rs.)		120.51	38.55	40.53

Particulars	31.03.2011
Sales Turnover (Approximately)	2000.000 [Gross Turnover]

The above information has been parted by Mr. Vimal Chaudiwala (Accounts Manager).

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	9.44	7.19	7.15
Net Profit Margin (PBT/Sales)	(%)	14.45	11.04	10.64
Return on Total Assets (PBT/Total Assets}	(%)	29.43	14.54	26.85
Return on Investment (ROI) (PBT/Networth)		0.57	0.30	0.37
Debt Equity Ratio (Total Liability/Networth)		1.29	1.59	1.02
Current Ratio (Current Asset/Current Liability)		1.50	1.26	1.43

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.03.2010 (Rs. in millions	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)
Sundry Creditors
Total outstanding dues of others creditors	547.652	140.330	NA
Total	547.652	140.330	NA

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	No
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

GENERAL:

The turnover during the year increased form Rs.1141.600 millions to Rs.2695.100 millions. During the year Rs.241.010 millions is transferred to reserves and surplus.

PROSPECTS:

Prospects of Conductor Industry looks bright because of the massive plan of Government of India for Power Sector. Total pending orders in hand as on 31^st March, 2010 was Rs.1860.000 millions.

Bankers Charges Report as per Registry

Corporate identity number of the company	U32104MH1971PLC015121
Name of the company	SMITA CONDUCTORS LIMITED
Address of the registered office or of the principal place of business in India of the company	1402/03, Raheja Center, Nariman Point, Mumbai – 400 021, Maharashtra, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80035881
Type of charge	Immovable property
Particular of charge holder	Bank of Baroda (Lead Bank), Nariman Point Branch, Foreshore Building, Gen Bhosale Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India
Nature of instrument creating charge	Supplemental Memorandum of Entry
Date of instrument Creating the charge	12.08.2009
Amount secured by the charge	Rs.2710.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest: 0.50% below BPLR i.e. 11.50% p.a. with monthly rests. Terms of repayment 11 Quarterly installment of Rs. 4.167 millions each and 12^th installment of Rs. 4.163 millions commencing after moratorium period of 6 months. Margin 25% Margin Extent and operation of the charge Bank of Baroda
Particulars of the property charged	all those pieces and parcel of land admeasuring 8 Bighas 16 Biswas, 14 Biswasis is within the whole Kata, Khowat No. 1 and bearing Khasara Nos. 87, 88, 92, 93 (P), 94, 95, 104 and 105 and also bearing area of 1 Bigha 5 Biswas and Bearing Khasra Nos. 87 (P), 88 (P), 94 (P), and 95 (P) aggregating to 10 Bighas, I Biswas and 14 Biswasis or thereabouts and of all which is situated at Village Mahna sarai known as Khot Pargana Lane, Tehsil Ghaziabad in the state of U.P. All that piece and parcel of land and ground together with factory buildings, messuages, tenements and structures standing thereon and comprised in the conductor division and transformer yard being a part of the larger property admg. 39,200 sq.yds or 32.590 sq.mtrs or thereabouts and Bearing Survey No. 100 (P) as per the conveyance being Plot Nos. 164,165,168 and 170 situated at Vithalwadi, in State of Maharashtra
Particulars of the present modification	Charge increased to Rs. 2710.000 millions Bank of Baroda Rs. 1670.000 Millions Central Bank of India – Rs. 1040.000 Millions

CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:

Particulars	31.03.2010 (Rs. in millions)
a) Letter of credit issued by the bankers in favour of suppliers outstanding	239.443
b) Bank Guarantees outstanding	1356.719
c) Demands raised by Sales tax Department for which company has gone in appeal	0.120
d) Demand raised by Income Tax Department for which either the company or the Department has gone in appeal.	43.315

FIXED ASSETS

v Leasehold Land

v Freehold Land

v Factory Building

v Non Factory Building

v Plant and Machinery

v Furniture and Fixtures

v Office Equipments

v Vehicles

v Live Stock

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.48.87
UK Pound	1	Rs.78.11
Euro	1	Rs.68.36

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		51

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.