MIRA INFORM REPORT

Report Date :

04.11.2011

IDENTIFICATION DETAILS

Name :	OSWAL WOOLLEN MILLS LIMITED
Registered Office :	G. T. Road, Sherpur, Ludhiana - 141003, Punjab
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.06.1949
Com. Reg. No.:	16-001522
Capital Investment / Paid-up Capital :	Rs.249.000 Millions
CIN No.: [Company Identification No.]	U40300PB1949PLC001522
TAN No.: [Tax Deduction & Collection Account No.]	JLDO00323B
PAN No.: [Permanent Account No.]	AAACO1943F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturers of combed wool and synthetic yarns.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (63)

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 7700000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having good track. Directors reported as experienced and respectable businessmen. Trade relations are fair. Business is active. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered/ Corporate Office 1 :	G.T. Road, Sherpur, Ludhiana-141003, Punjab, India
Tel. No.:	91-161-2542512 / 2535740 / 2535741 / 2544313 / 2542501 / 2 / 5 / 7 / 10
Fax No.:	91-161-2662235 / 2660943 / 44 / 2542514 / 2542509
Email:	rmsood@oswnnahar.com davinder@owmnahar.com gayathribprakash@owmnahar.com oswal@owmnahar.com
Website:	http://www.owmnahar.com
Area :	1000 sq.mtrs.
Location :	Owned
Corporate Office 2 :	“Nahar Tower” Industrial Area-A, Ludhiana-141003, Punjab, India
Tel. No.:	91-161-2600701 to 705
Fax No.:	91-161-2600709 / 2601956
E-Mail :	nahar@owmnahar.com
Corporate Office 3 :	Ludhiana-141010, India
Tel. No.:	91-161-2672590 to 592
Fax No.:	91-161-2674072 / 2670596
E-Mail :	nilldh@owmnahar.com
Works :	· G. T. Road, Sherpur, Ludhiana – 141003, Punjab, India
	· Industrial Area ‘A’, Ludhiana – 1411003, Punjab, India
	· Plot No. 92, Daba Road, Sherpur, Ludhiana – 141003, Punjab, India
	· 212, Cochrane Basin Road, Chennai, Tamilanadu, India
	· Plot No.22, Sector 18, Gurgaon, Haryana, India
	· Village Lalru, P. O. Dappar, Ambala Chandigarh Road, District. Mohali, Punjab, India
Sales Office :	Miller Ganj, Ludhiana – 141003, Punjab, India

DIRECTORS

As on 22.09.2010

Name :

Mr. Suresh Kumar Singla

Designation :

Director

Address :

H.No. 119, Ward No. 26, Kitchlu Nagar, Ludhinana-141001, Punjab, India

Date of Birth/Age :

07.07.1950

Date of Appointment:

29.09.2007

DIN No.:

00403423

Other Directorship :

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
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	31/07/2002	31/07/2002	-	Active	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Director	29/09/2007	1/11/2006	-	Active	NO
L45202PB2006PLC029968	Nahar Capital And Financial Services Limited	Director	29/11/2008	30/04/2008	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	29/09/2008	30/06/2008	-	Active	NO

Name :

Mr. Jawahar Lal Oswal

Designation :

Chairman and Managing Director

Address :

514/2 College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

01.10.1943

Date of Appointment:

31.03.1964

DIN NO. :

00463866

Other Directorship :

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
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Managing director	1/10/2007	31/03/1964	-	Active	NO
U74899DL1972PLC006181	Vardhman Investments Limited	Director	30/04/1978	30/04/1978	-	Active	NO
U67120DL1980PTC161885	Nagdevi Trading And Investment Company Limited	Director	16/06/1980	16/06/1980	-	Active	NO
U67120DL1982PTC161884	Ogden Trading And Investment Company Private Limited	Director	20/07/1982	20/07/1982	-	Amalgamated	NO
U65993DL1972PLC006178	Vanaik Investors Limited	Director	30/12/1984	30/12/1984	-	Active	NO
U74899DL1991PTC043052	Abhilash Growth Fund Private Limited	Director	12/02/1991	12/02/1991	-	Active	NO
U74899DL1991PTC043053	Nahar Growth Fund Private Limited	Director	12/02/1991	12/02/1991	-	Active	NO
U74999DL1991PLC043054	J L.Growth Fund Limited	Director	12/02/1991	12/02/1991	-	Active	NO
U74899DL1979PLC009739	Palam Motels Limited	Director	26/02/1991	26/02/1991	-	Active	NO
U74899DL1991PTC043957	Neha Credit and Investment Private Limited	Director	15/04/1991	15/04/1991	-	Active	NO
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	14/10/1991	14/10/1991	-	Active	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Director	14/10/1991	14/10/1991	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	30/09/1992	30/09/1992	-	Active	NO
U65992DL1972PLC006182	Girnar Investment Limited	Director	6/09/1993	6/09/1993	-	Active	NO
U67120DL1972PLC006180	Atam Vallabh Financiers Limited	Director	26/11/1994	26/11/1994	-	Active	NO
U74899DL1990PTC041601	Monica Growth Fund Private Limited	Director	17/02/1998	17/02/1998	-	Active	NO
U74899DL1990PTC041600	Ruchika Growth Fund Private Limited	Director	17/02/1998	17/02/1998	-	Active	NO
U67120DL1979PLC009388	Sankeshwar Holding Company Limited	Director	12/10/1999	12/10/1999	-	Active	NO
U67120DL1972PLC006179	Ludhiana Holdings Limited	Director	12/10/1999	12/10/1999	-	Active	NO
L45202PB2006PLC029968	Nahar Capital and Financial Services Limited	Director	31/03/2006	31/03/2006	-	Active	NO
U51494PB2008PLC032059	Monte Carlo Fashions Limited	Managing director	10/08/2011	1/07/2008	-	Active	NO

Name :

Mr. Kanvar Sain Maini

Designation :

Director

Address :

H.No. 20 SF, H.I.G Flats, Rani Jhansi Raod, Civil Lines, Ludhiana-141001, Punjab, India

Date of Birth/Age :

02.07.1939

Date of Appointment:

29.09.2007

Din No.:

00454686

Other Directorship :

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
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	30/06/2001	30/06/2001	-	Active	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Director	30/06/2001	30/06/2001	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	30/09/2002	30/09/2002	-	Active	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Director	29/09/2007	1/11/2006	-	Active	NO
L45202PB2006PLC029968	Nahar Capital And Financial Services Limited	Director	29/12/2007	12/01/2007	-	Active	NO

Name :

Mr. Om Prakash Sahni

Designation :

Director

Address :

House No. 217-E, Kitchlu Nagar, Ludhinana-141001, Punjab, India

Date of Birth/Age :

16.02.1941

Date of Appointment:

29.09.2007

Din No.:

00458499

Other Directorship :

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
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	28/09/1992	28/09/1992	-	Active	NO
U74899DL1993PLC055880	Midland International Limited	Director	23/11/1996	23/11/1996	-	Amalgamated	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Director	30/06/2001	30/06/2001	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	30/09/2002	30/09/2002	-	Active	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Director	29/09/2007	1/11/2006	-	Active	NO
L45202PB2006PLC029968	Nahar Capital and Financial Services Limited	Director	29/12/2007	12/01/2007	-	Active	NO

Name :

Mr. Kamal Oswal

Designation :

Director

Address :

514/2 College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

29.02.1962

Date of Appointment:

29.12.1993

DIN No.:

00493213

Other Directorship :

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
U65992DL1972PLC006182	Girnar Investment Limited	Director	14/05/1983	14/05/1983	-	Active	NO
L65910DL1983PLC016036	Oswal Leasing Limited	Director	12/08/1983	12/08/1983	-	Active	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Managing director	1/02/2008	27/09/1983	-	Active	NO
U67120DL1979PLC009388	Sankeshwar Holding Company Limited	Director	18/11/1983	18/11/1983	-	Active	NO
U74899DL1983PTC015104	Kulu Investment And Trading Private Limited	Director	22/03/1984	22/03/1984	-	Amalgamated	NO
U67120DL1980PTC161885	Nagdevi Trading And Investment Company Limited	Director	13/10/1984	13/10/1984	-	Active	NO
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	15/11/1989	15/11/1989	-	Active	NO
U74899DL1979PLC009739	Palam Motels Limited	Director	26/02/1991	26/02/1991	23/07/2008	Active	NO
U74899DL1991PTC043052	Abhilash Growth Fund Private Limited	Director	1/06/1991	1/06/1991	-	Active	NO
U74899DL1991PTC043053	Nahar Growth Fund Private Limited	Director	1/06/1991	1/06/1991	-	Active	NO
U74999DL1991PLC043054	J L.Growth Fund Limited	Director	1/06/1991	1/06/1991	-	Active	NO
U74899DL1991PTC043957	Neha Credit and Investment Private Limited	Director	1/06/1991	1/06/1991	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	30/09/1991	30/09/1991	-	Active	NO
U74899DL1972PLC006181	Vardhman Investments Limited	Director	20/08/1992	20/08/1992	-	Active	NO
U67120DL1982PTC161884	Ogden Trading and Investment Company Private Limited	Director	30/08/1993	30/08/1993	-	Amalgamated	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Director	29/12/1993	29/12/1993	-	Active	NO
U45202PB1994PLC014964	Nahar Industrial Infrastructure Corporation Limited	Director	22/08/1994	22/08/1994	-	Active	NO
L45202PB2006PLC029968	Nahar Capital And Financial Services Limited	Director	31/03/2006	31/03/2006	-	Active	NO
U51311PB2001PLC024753	Cotton County Retail Limited	Managing director	30/11/2006	30/11/2006	-	Active	NO
U67120DL1972PLC006180	Atam Vallabh Financiers Limited	Director	27/09/2008	14/02/2008	-	Active	NO
U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	1/07/2008	1/07/2008	-	Active	NO

Name :

Mr. Dinesh Oswal

Designation :

Director

Address :

514/2 College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

04.10.1965

Date of Appointment:

13.07.1992

DIN No.:

00498670

Other Directorship :

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
U65992DL1972PLC006182	Girnar Investment Limited	Director	10/06/1980	10/06/1980	-	Active	NO
L65910DL1983PLC016036	Oswal Leasing Limited	Director	19/01/1984	19/01/1984	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	21/05/1985	21/05/1985	-	Active	NO
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	15/11/1989	15/11/1989	-	Active	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Whole-time director	1/10/2011	18/10/2006	-	Active	NO
U51311PB2001PLC024753	Cotton County Retail Limited	Director	30/11/2006	30/11/2006	-	Active	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Director	7/12/2006	7/12/2006	-	Active	NO
L45202PB2006PLC029968	Nahar Capital and Financial Services Limited	Director	29/12/2007	12/01/2007	-	Active	NO
U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	1/07/2008	1/07/2008	-	Active	NO

Name :

Mr. Sandeep Jain

Designation :

Executive Director

Address :

514/2 College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

24.12.1971

Date of Appointment:

30.04.1998

DIN No.:

00565760

Other Directorship :

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
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Whole-time director	1/10/2007	30/04/1998	-	Active	NO
U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	1/07/2008	1/07/2008	-	Active	NO
U17115DL1980PLC177084	Vanaik Spinning Mills Limited	Director	23/09/2010	10/11/2009	-	Active	NO

Name :

Mr. Amarjeet Singh

Designation :

Director

Address :

207 B Model Town Extension, Ludhiana, Punjab, India

Date of Birth/Age :

15.11.1926

Date of Appointment:

30.09.1981

DIN No.:

00452684

Other Directorship :

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
U65993DL1972PLC006178	Vanaik Investors Limited	Director	10/06/1980	10/06/1980	30/05/2011	Active	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Director	30/09/1981	30/09/1981	30/05/2011	Active	NO
L65910DL1983PLC016036	Oswal Leasing Limited	Director	12/10/1999	12/10/1999	30/05/2011	Active	NO
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	30/06/2001	30/06/2001	30/05/2011	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	28/09/2001	28/09/2001	30/05/2011	Active	NO
U74899DL1983PTC015104	Kulu Investment And Trading Private Limited	Director	12/11/2005	12/11/2005	-	Amalgamated	NO
U74899DL1979PLC009739	Palam Motels Limited	Director	12/11/2005	12/11/2005	30/05/2011	Active	NO
U67120DL1980PTC161885	Nagdevi Trading And Investment Company Limited	Director	16/11/2005	16/11/2005	30/05/2011	Active	NO
U74899DL1990PTC041601	Monica Growth Fund Private Limited	Director	17/11/2005	17/11/2005	30/05/2011	Active	NO
U74999DL1991PLC043054	J L.Growth Fund Limited	Director	17/11/2005	17/11/2005	30/05/2011	Active	NO
U74899DL1991PTC043052	Abhilash Growth Fund Private Limited	Director	17/11/2005	17/11/2005	30/05/2011	Active	NO
U74899DL1991PTC043053	Nahar Growth Fund Private Limited	Director	17/11/2005	17/11/2005	30/05/2011	Active	NO
U74899DL1990PTC041600	Ruchika Growth Fund Private Limited	Director	17/11/2005	17/11/2005	30/05/2011	Active	NO
U74899DL1991PTC043957	Neha Credit and Investment Private Limited	Director	17/11/2005	17/11/2005	30/05/2011	Active	NO
L45202PB2006PLC029968	Nahar Capital and Financial Services Limited	Director	29/12/2007	12/01/2007	30/05/2011	Active	NO
U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	1/07/2008	1/07/2008	30/05/2011	Active	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Director	30/09/2009	26/05/2009	30/05/2011	Active	NO

Name :

Mrs. Harbhajan Kaur Bal

Designation :

Director

Address :

H. No 2322 Phase XI, Mohali

Date of Birth/Age :

12.06.1939

Date of Appointment:

01.11.2006

DIN No.:

00008576

Other Directorship :

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
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	28/09/1992	28/09/1992	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Director	25/08/2000	25/08/2000	-	Active	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Director	30/06/2001	30/06/2001	-	Active	NO
L24116PB1986PLC007030	Iol Chemicals and Pharmaceuticals Limited	Director	27/03/2002	27/03/2002	21/05/2011	Active	NO
L17115PB1979PLC003994	Shreyans Industries Limited	Director	29/04/2003	29/04/2003	28/05/2011	Active	NO
L17122DL1989PLC035050	Sportking India Limited	Director	25/04/2006	25/04/2006	-	Active	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Director	29/09/2007	1/11/2006	-	Active	NO
L45202PB2006PLC029968	Nahar Capital and Financial Services Limited	Director	29/12/2007	12/01/2007	-	Active	NO

Name :

Mr. Dinesh Gogna

Designation :

Executive Director – Corporate Finance and Taxation

Address :

30 H, B.R.S. Nagar, Ludhiana, Punjab, India

Date of Birth/Age :

07.07.1953

Date of Appointment:

18.10.2006

DIN No. :

00607290

Other Directorship :

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
U67120DL1972PLC006180	Atam Vallabh Financiers Limited	Director	6/05/1985	6/05/1985	-	Active	NO
L17115PB1980PLC004341	Nahar Spinning Mills Limited	Managing director	21/05/1985	21/05/1985	-	Active	NO
L17115PB1988PLC008820	Nahar Poly Films Limited	Director	12/01/2007	11/11/1988	-	Active	NO
L15143PB1983PLC018321	Nahar Industrial Enterprises Limited	Director	15/12/1988	15/12/1988	-	Active	NO
U40300PB1949PLC001522	Oswal Woollen Mills Limited	Director	13/07/1992	13/07/1992	-	Active	NO
U67120DL1979PLC009388	Sankeshwar Holding Company Limited	Director	31/08/1992	31/08/1992	-	Active	NO
U74899DL1979PLC009739	Palam Motels Limited	Director	8/02/1993	8/02/1993	-	Active	NO
U74899DL1983PTC015104	Kulu Investment And Trading Private Limited	Director	30/04/1993	30/04/1993	-	Amalgamated	NO
U67120DL1982PTC161884	Ogden Trading and Investment Company Private Limited	Director	30/08/1993	30/08/1993	-	Amalgamated	NO
U65993DL1972PLC006178	Vanaik Investors Limited	Director	6/09/1993	6/09/1993	-	Active	NO
U45202PB1994PLC014964	Nahar Industrial Infrastructure Corporation Limited	Director	22/08/1994	22/08/1994	-	Active	NO
U67120DL1972PLC006179	Ludhiana Holdings Limited	Director	12/10/1999	12/10/1999	-	Active	NO
U74899DL1972PLC006181	Vardhman Investments Limited	Director	9/12/2004	9/12/2004	-	Active	NO
U74999DL1991PLC043054	J L.Growth Fund Limited	Director	9/12/2004	9/12/2004	-	Active	NO
U74899DL1991PTC043052	Abhilash Growth Fund Private Limited	Director	1/10/2005	1/10/2005	-	Active	NO
L45202PB2006PLC029968	Nahar Capital and Financial Services Limited	Managing director	1/12/2007	31/03/2006	-	Active	NO
U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	1/07/2008	1/07/2008	-	Active	NO
U51311PB2001PLC024753	Cotton County Retail Limited	Director	1/09/2008	6/08/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gayathri B. Prakash
Designation :	Company Secretary
Address :	Staff Quarters - All Saints Institute of Med SCS and Research, VPO Jaspal Nagar, Ludhinana-141122, Punjab, India
Date of Birth/Age :	04.07.1979
Date of Appointment :	01.08.2008
Name :	Mr. R. M. Sood
Designation :	Finance Controller

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.09.2010

Names of Shareholders	No. of Shares
Nirmal Kumari Oswal	23661
Nagdevi Tdg and Invst. Company Limited, India	8844804
Nahar Capital and Fin. Services, India	2250000
Abhilash Growth Fund (P) Limited, India	1681669
Girnar Investment Limited, India	7471020
Devakar Investment and Trading Company Private Limited, India	18000
Adinath Invst. And Tdg. Limited, India	52875
Atam Vallabh Financiers Limited, India	95865
Vardhaman Investments Limited, India	71025
Ludhiana Holdings Limited, India	1300815
Vanaik Investors Limited, India	1234320
Kamal Kishore Oswal	50966
Jawahar Lal Oswal	302865
Dinesh Oswal	52250
Abhilash Oswal	307380
Sambhav Oswal	250000
Tanvi Oswal	250000
Abhinav Oswal	200000
Rishabh Oswal	200000
Neha Oswal	100000
Manisha Oswal	50000
Ritu Oswal	50000

Equity Share Break up (Percentage of Total Equity)

As on 22.09.2010

Category	Percentage
Bodies corporate	92.48
Directors or relatives of Directors	7.30
Other top fifty shareholders	0.22
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of combed wool and synthetic yarns

Products :

Product Description	Item Code No.
Yarn of Combed Wool	5107
Synthetic Yarn	5509
Denim Fabric	520994200

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Installed Capacity	Actual Production
Main textile unit
*Yarn all kinds	29560 Worsted Spindles	6261133 Kgs.
Yarn all kinds		16710 kgs.
Textile Goods (From Outside Party)		51083 Pcs
Wool/Mohair Top	2.5 millions Ibs. P.A.	2160135 Kgs
Wool Grease		92100 Kgs.
Noils (Cond. W.t.)		190353 Kgs.
Top (Net Wt.)		4807808 Kgs.
O.W.M. Unit 4
Woolen Yarn	1472 Spindles	469710 Kgs.
Yarn (Fabrication a/c )		16710 Kgs.
O.W.M. Unit 5
Hosiery Knitwears	Not Feasible	1135446 Pcs
O.W.M. Unit 6
Hosiery Goods	Not Feasible	828180 Pcs
Oswal Denims
Cotton Denim Cloth	20 Millions MTR	15929139 MTR
Dyed Yarn		264710 Kgs.
Waste		350175 Kgs.
Oswal Denims SPG Unit
Yarn	17768 Spindles	6011099 Kgs.
Waste		733850 Kgs.

Note :

* Production of yarn includes 33516 kgs(Previous Year 36348 kgs) of yarn produced and consumed for manufacture of Textile fabrics in current year

* 300 Kgs of yarn received out of opening work in process Unit no III

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Allahabad Bank, Ludhiana, Punjab

· State Bank of Patiala, Commercial Branch, G T Raod, Miller Ganj, Ludhiana-141003, Punjab, India

· Punjab and Sind Bank, Ludhiana, Punjab

· IDBI Bank Limited, SCO 126-128, Kalinga Towers, Feroze Gandhi Market, Ludhiana-141001, Punjab, India

· Oriental Bank of Commerce, Overseas Branch, Jandu Tower, G T Road, Miller Ganj, Ludhiana-141003, Punjab, India

· Central Bank of India

· Punjab National Bank

· ICICI Bank Limited

· Indian Bank, 1601, Kalsi Nagar, G.T. Road, Ludhiana – 141003, Punjab, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
i) From Banks For Working Capital
a) Allahabad Bank	389.899	637.068
b) State Bank of Patiala	385.033	216.810
c) Punjab and Sind Bank	219.760	222.933
d) IDBI Bank Limited (Secured by hypothecation of entire present and future movable assets of the company, such as stock of raw material, work in process, finished goods, goods in transit, stores and spares, book debts and claims etc., advances from all banks have been further secured by a second joint equitable mortgage of properties comprising of spinning, weaving and combing sections. These advances have also been guaranteed by the Mg. Director and two other promoter directors in their personal capacity.)	220.000	0.000
(ii) TERM LOANS
A. RUPEE TERM LOAN FROM STATE BANK OF PATIALA UNDER TECHNOLOGY UPGRADATION FUND (TUF) SCHEME.
a) Secured by the hypothecation of specific equipment purchased under the Project Financing Scheme and 1^st pari passu charge with other, term Lenders, on the company's immovable properties situated at village Sherpur and Giaspura, Daba Road, Industrial Area-A, Tehsil and District Ludhiana. The loan is also guaranteed by the Mg. Director and two other promoter directors in their personal capacities.	1106.198	1271.746
b) Interest Accrued and Due Thereon	9.914	11.540
B. RUPEE TERM LOAN FROM CENTRAL BANK OF INDIA UNDER TECHNOLOGY UPGRADATION FUND (TUF) SCHEME.
a) Secured by the hypothecation of specific equipment purchased under the Project Financing Scheme and 1^st pari passu charge with other, term Lenders, on the company's immovable properties situated at village Sherpur and Giaspura, Daba Road, Industrial Area-A, Tehsil and District Ludhiana. The loan is also guaranteed by the Mg. Director and two other promoter directors in their personal capacities.	10.261	15.159
C. RUPEE TERM LOAN FROM ALLAHABAD BANK UNDER TECHNOLOGY UPGRADATION FUND (TUF) SCHEME.
a) Secured by the hypothecation of specific equipment purchased under the Project Financing Scheme and 1^st pari passu charge with other, term lenders, on the company's immovable properties situated at village Sherpur and Giaspura, Daba Road, Industrial Area-A, Tehsil and District Ludhiana. The loan is also guaranteed by the Mg. Director and two other promoter directors in their personal capacities.	79.848	94.848
b) Interest Accrued and Due Thereon	0.688	0.847
D. RUPEE TERM LOAN FROM PUNJAB NATIONAL BANK UNDER TECHNOLOGY UPGRADATION FUND (TUF) SCHEME.
a) Secured by the hypothecation of specific equipment purchased under the Project Financing Scheme and 1^st pari passu charge with other, term lenders, on the company's immovable properties situated at village Sherpur and Giaspura, Daba Road, Industrial Area-A, Tehsil and District Ludhiana. The loan is also guaranteed by the Mg. Director and two other promoter directors in their personal capacities.	106.932	118.000
b) Interest Accrued and Due Thereon	1.045	1.198
E RUPEE TERM LOAN FROM ORIENTAL BANK OF COMMERCE UNDER TECHNOLOGY UPGRADATION FUND (TUF) SCHEME
a) Secured by the hypothecation of specific equipment purchased under the project financing scheme and last pari passu charge with other term lender, on the company immovable properties situated at village Sherpur and Giaspura, Daba Road, Industrial Area-A, Tehsil and District Ludhiana, The losn is also guaranteed by the mg. director ant tow other promoter directors in their personal capacities.	160.000	0.000
Total	2689.578	2590.149
Unsecured Loans :
a) Short term loans and advances from companies	168.527	110.495
b) Interest free security Deposit	40.956	40.956
Total	209.483	151.451

Banking Relations :	--
Auditors :
Name :	Gupta Vigg and Company Chartered Accountants
Address :	K-101, Kismat Complex, G. T. Road, Miller Ganj, Ludhiana – 141 003, Punjab, India
PAN.:	AAEFG0353Q
Subsidiaries :	· Monte Carole Fashions Limited
Enterprises over which key Management Personnel is able to exercise significant Influence :	· Atam Vallabh Financiers Limited · Girnar Investment Limited · J.L. Growth Fund Private Limited · Ludhiana Holding Limited · Nagdevi Trading and Investment Limited · Abhilash Growth Fund Private Limited · Ruchika Growth Fund Private Limited · Vanaik Investors Limited · Vanaik Spinning Mills Limited · Vardhman Investment Limited · Nahar Capital and Financial Services Limited · Nahar Industrial Infrastructure Limited · Nahar Polyfilms Limited · Nahar Spinning Mills Limited · Cotton County Retail Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24900000	Equity Shares (16600000 Equity Shares of Rs.10/- each are allotted as fully paid up, by way of bonus shares by capitalisation of General Reserve in the year 2004-05)	Rs.10/- each	Rs.249.000 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		249.000	249.000	249.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1691.591	1150.409	913.527
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1940.591	1399.409	1162.527
LOAN FUNDS
1] Secured Loans		2689.578	2590.149	2799.087
2] Unsecured Loans		209.483	151.451	147.567
TOTAL BORROWING		2899.061	2741.600	2946.654
DEFERRED TAX LIABILITIES		150.596	155.050	166.500
TOTAL		4990.248	4296.059	4275.681
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2177.111	2046.378	1960.253
Capital work-in-progress		115.391	38.061	72.403
INVESTMENT		580.930	159.087	133.919
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1819.012	1291.591	1280.083
	Sundry Debtors	939.367	772.900	618.663
	Cash & Bank Balances	104.189	327.766	293.088
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	752.557	650.009	821.094
Total Current Assets		3615.125	3042.266	3012.928
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	402.238	558.817
	Other Current Liabilities	811.071	305.416	904.430
	Provisions	285.000	125.500	0.000
Total Current Liabilities		1498.309	989.733	904.430
Net Current Assets		2116.816	2052.533	2108.498
MISCELLANEOUS EXPENSES		0.000	0.000	0.608
TOTAL		4990.248	4296.059	4275.681

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Operating Income	6335.615	5381.435	4421.352
		Other Income	82.801	94.916	89.390
		TOTAL (A)	6418.416	5476.351	4510.742
Less	EXPENSES
		Cost of Material	3282.499	2829.849	2333.592
		Store Consumed	344.921	356.833	280.817
		Manufacturing Expenses	519.398	515.274	424.046
		Personnel Expenses	405.282	360.626	320.706
		Administrative Expenses	130.240	106.622	90.598
		Selling Expenses	378.471	350.864	279.562
		Other Expenses	82.190	118.281	38.262
		Difference of Excise Duty on Stocks	(0.030)	(0.001)	0.537
		TOTAL (B)	5142.971	4638.348	3768.120
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1275.445	838.003	742.622
Less	FINANCIAL EXPENSES (D)		168.255	218.980	170.785
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1107.190	619.023	571.837
Less/ Add	DEPRECIATION/ AMORTISATION (F)		273.470	275.521	245.599
	PROFIT BEFORE TAX (E-F) (G)		833.720	343.502	326.238
Less	TAX (H)		292.538	106.621	113.482
	PROFIT AFTER TAX (G-H) (I)		541.182	236.881	212.756
Less	APPROPRIATIONS
		Foreign Exchange Contingent(Disputed) Liability Reserve	17.941	15.892	0.000
		Profit and Loss Carried over to General Reserve	523.388	77.960	212.756
	BALANCE CARRIED TO THE B/S		0.097	143.029	0.000
	Earnings Per Share (Rs.)		21.73	9.51	8.54

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	8.43	4.33	4.72
Net Profit Margin (PBT/Sales)	(%)	13.16	6.38	7.38
Return on Total Assets (PBT/Total Assets}	(%)	14.39	6.75	6.56
Return on Investment (ROI) (PBT/Networth)		0.43	0.25	0.28
Debt Equity Ratio (Total Liability/Networth)		2.27	2.67	3.31
Current Ratio (Current Asset/Current Liability)		2.41	3.07	3.33

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATIONS

OPERATIONS, STRATEGY, EXPERIMENTATION AND RESULTS

Operating income exclusive of other income and excise duty for the year was Rs.6335.000 Millions against corresponding income of Rs.5381.400 Millions of the previous year, an impressive growth of 17.72%. The profit before tax and depreciation were higher at Rs.1107.200 Millions against corresponding figure of Rs.619.000 Millions of the previous year, an impressive growth of 78.87%. The main reason for higher profits was substantial growth in sales of the company’s products namely woollen hosiery knitwears, readymade cotton garments, denim fabrics, cotton yarn and woollen/woollen worsted yarns.

As reported in the last report, the production in both Denim Unit and Denim Spinning unit had stabilized and received overwhelming response from industrial and other customers.

In Woollen Division, the company took extensive steps for modernization and balancing of its production capacities. Further additions were made in the knitting, finishing processes of garments and woollen spinning plant.

In its endeavor to expand its retail network all over India, the company further appointed 20 new Franchisees during the year, thus increasing the number of the franchisees from 88 to 108.

The operations of the I.T. Infrastructure services and other services segments were satisfactory.

FORM 8

Corporate identity number of the company	U40300PB1949PLC001522
Name of the company	OSWAL WOOLLEN MILLS LIMITED
Address of the registered office or of the principal place of business in India of the company	G.T. Road, Sherpur, Ludhiana-141003, Punjab, India Email Id : gayathribprakash@owmnahar.com
This form is for	Creation of Charge
Type of charge	Immovable property Movable property (not being pledge)
Particular of charge holder	Indian Bank, 1601, Kalsi Nagar, G. T. Road, Ludhiana – 141003, Punjab, India Email Id : kalsinagar@indianbank.co.in
Nature of instrument creating charge	Medium term loan agreement for Rs.472.500 Millions and agreement for hypothecation of movables for the said medium term loan; agreement for hypothecation of goods received under advance payment guarantees/LCs for a limit of Rs.92.500 Millions all documents executed on non judicial stamp paper of Rs.100
Date of instrument Creating the charge	23.05.2011
Amount secured by the charge	Rs.565.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest BR + 1.505 p.a. presently at 11.50 % Terms of repayment 32 quarterly installments of Rs.14.766 Millions each commencing from second quarter of 2013-2014 after moratorium period of 2 years Margin 30.00% Extent and operation of the charge 100%
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge on the solar PV modules and other equipments comprising solar PV project on pari passu basis with existing term lenders First charge on the lease hold land acquired for setting up of 5 MW Solar PV project on pari passu basis with existing term lenders Collateral security being first pari passu charge on all the present and future fixed assets of the company, with existing term lenders Personal guarantee of S/Sh. Jawahar Lal Oswal, Kamal Oswal, Dinesh Oswal

CONTINGENT LIABILITIES

There are contingent liabilities in respect of :

i) Estimated amount of contracts remaining to be executed on Capital account (net of advances) Rs.83.196 Millions (Previous year Rs.60.435).

ii) M/s Madhya Pardesh Rajya Tilhan Udyog Limited. Bhopal (Madhya Pradesh) lodged a claim for recovery of Rs.1.482 Millions (including a sum of Rs.0.481 Million on account of interest) being the amount deducted/retained by the company on account of its claim for quality rebate/quality allowance on the material supplied by them. The company has filed a counter suit denying the said claim and the suit is pending with the High Court at Jabalpur. After adjusting a credit balance of Rs.1.001 Millions against the claim a sum of Rs.4,80,747.64 (Previous year Rs.0.481 Millions) is the balance amount of claims against the company for which no provision has been made.

iii) Leave with wages amounting to Rs.0.614 Millions (Previous year Rs.0.597 Millions) have not been provided for in respect of company’s employees at Vanaspati Unit, Chennai.

iv) Letters of Credit outstanding in favour of foreign suppliers for raw materials, stores and spares and capital goods Rs.221.912 Millions (Previous year Rs.26.417 Millions) :

Raw Material Rs.111.456 Millions

Capital goods Rs.110.457 Millions

v) The company has given counter guarantees of Rs.1.457 Millions (Previous year Rs.1.205 Millions) to the Company's bankers for guarantees given by them to the company's constituents and others against fulfillment of certain obligations of the company.

vi) The Company has contested additional demand in respect of Excise Duty and Sales Tax etc., amounting to Rs. 8.997 Millions (Previous Year Rs.8.895 Millions). As against this a sum of Rs.1.546 Millions (Previous Year Rs.1.327 Millions ) has been deposited under protest and is included in “Advances recoverable in cash or kind”. The company has filed an appeal with the Appellate Authorities and is advised that the demand is not in accordance with the law. No provision, therefore, has been made in the financial accounts.

vii) In the immediately preceding year, company had entered into derivative contracts, which are matured in this year with banks with a view of cost reduction and transformation of risk of fluctuation of rates of foreign exchange on account of payable and receivables of foreign exchange. Some of the banks in the guise of cost reduction contracts have sold exotic derivative products to the companies, which are as per expert’s opinion legally void and not enforceable. Such contracts have been challenged by the company in the Civil Court by way of declaratory suit, thus the liability/gain arising out of such contracts have neither been recognized in revenue nor as an expense in the books. However, with abundant precaution to meet out such disputed liability in future, reserves have been created net of liability of Rs.176.716 Millions ( Previous year 158.922 Millions) to take care of such contingencies, in the year it is settled. Company intends to create similar reserve for any such contingent liability in the respective year in which the liability by the bank is crystallized on settlement dates.

viii) The Income Tax Assessment upto the Assessment year 2007-2008 has since been completed and the assessment for the financial year relevant to the assessment year 2008-2009 is in progress.

ix) In the Arbitration proceedings between Oswal Agro Mills Limited (OAM) and the company, the Hon’ble High Court of Delhi vide judgment and order dated. 17.04.2007 awarded to OAM a sum of Rs.5.757 Millions along with simple interest @ 18% p.a. on the principal amount from 01.11.1991 till the date of award i.e 21.02.2000 and simple interest of 12% from the date of award till date of recovery. The company preferred an appeal in the Hon’ble High Court of Delhi against the judgement and order of the Hon’ble single judge of the said Court and also filed an application for stay of recovery and the Stay has been granted subject to deposit of the Awarded amount of Rs. 5.757 Millions along with interest. The company deposited a sum of Rs.10.097 Millions and the same has been shown as amount recoverable. No provision for any liability which may ultimately arise as a final result of the decision of the Hon’ble Court, has been made in the accounts.

x) (i) The company has given a corporate guarantee of Rs.20.000 Millions (Previous year Rs.20.000 Millions) to State Bank of Patiala (SBOP) in respect of Term loan sanctioned by SBOP in account of M/S. Nahar International Limited (now merged with M/S. Nahar Industrial Enterprises Limited), one of the constituents of the company.

(ii) The company has given a corporate guarantee of Rs.2.800 Millions (Previous year Rs.245.000 Millions) to State Bank of Patiala (SBOP) in respect of Working Capital Limits sanctioned by SBOP in account of M/S.Vanaik Spinning Mills Limited, one of the constituents of the company.

FIXED ASSETS:

· Land

· Roads

· Building

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

· Computer software

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.49.37
UK Pound	1	Rs.78.49
Euro	1	Rs.67.59

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		63

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.