MIRA INFORM REPORT

Report Date :

17.11.2011

IDENTIFICATION DETAILS

Name :	FOWLER WESTRUP (INDIA) PRIVATE LIMITED
Registered Office :	Raj Mahal Building, 4^th Floor, 84, Veer Nariman Road, Mumbai – 400024, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	27.01.2000
Com. Reg. No.:	11-123855
Capital Investment / Paid-up Capital :	Rs.74.500 Millions
CIN No.: [Company Identification No.]	U74999MH2000PTC123855
TAN No.: [Tax Deduction & Collection Account No.]	BLRF00404F
PAN No.: [Permanent Account No.]	AAACF5164H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Transformer Oil Conditioning, Transformer Oil Conditioning Machinery, Agricultural Products, Processing Machinery, Pre Cleaner, Fine Cleaner, Indented Cylinder, Processing Machinery, Handing Equipment Accessories.
No. of Employees :	156 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 1400000
Status :	Satisfactory
Payment Behaviour :	Regular
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.

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

INFORMATION PARTED BY

Name :	Mr.Yoganand
Designation :	Accountants and Finance Manager
Contact No.:	91-080-27832992
Date :	16.11.2011

LOCATIONS

Registered Office :	Raj Mahal Building, 4^th Floor, 84, Veer Nariman Road, Mumbai – 400024, Maharashtra, India
Tel. No.:	91-22-259183511/ 7832992/ 27832995
Fax No.:	91-22-25916456/ 27831594
E-Mail :	jagati@fowlerwestrup.com fwl@fowlerwestrup.com fwl@vsnl.in
Website :	www.fowlerwestrup.com
Area :	3000 Sq. ft.
Location :	Leased
Corporate Office/ Factory :	Plot No. 249, 259, 3^rd Phase, Bhommasandra, Bangalore – 560099, Karnataka, India
Tel. No.:	91-80-27832992/ 27831594/ 27834440/ 27834441
Fax No.:	91-80-27831594
E-Mail :	fwl@fowlerwestrup.com
Regional Office :	Located at: · New Delhi · Kolkata · Mumbai · Coimbatore · Hyderabad

DIRECTORS

As on 30.09.2011

Name :

Mr. Badrinarayan Ramulal Barwale

Designation :

Director

Address :

72 – B, Urvashi Prtit Estate, Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.08.1931

Date of Appointment :

27.01.2000

DIN No.:

00001479

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	U01100MH1970PLC014600	Maharashtra Hybrid Seeds Company Limited	Director	04-05-70	04-05-70	-	Active	NO
2	U01110MH1972PLC015630	Jalna Seeds Processing And Refrigeration Company Limited	Director	23-12-78	23-12-78	-	Active	NO
3	U99999MH1958PTC011014	Amritlal Chemaux Private Limited	Director	25-08-82	25-08-82	-	Active	NO
4	U24110MH1984PTC034809	Marathawada Realtors Private Limited	Director	14-12-84	14-12-84	14-11-07	Active	NO
5	L99999MH1982PLC026903	Shrenuj and Company Limited	Director	17-09-87	17-09-87	-	Active	NO
6	U73100MH1987GAP042298	Barwale Foundation	Director	21-10-87	21-10-87	-	Active	NO
7	U65990MH1990PTC055398	Almet Healthcare Private Limited	Director	12-02-90	12-02-90	-	Active	NO
8	U67120MH1990PTC055473	Harirani Investment And Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
9	U67120MH1990PTC055474	Harbhajan Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
10	U65990MH1990PTC055475	Dudhna Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
11	U65990MH1990PTC055470	Rajur Ganapati Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
12	U67120MH1990PTC055592	John Fowler Ocular Lenses Private Limited	Director	28-02-90	28-02-90	-	Active	NO
13	U73200MH1986NPL041521	Centre For Advancement of Philanthropy.	Director	08-12-90	08-12-90	-	Active	NO
14	U29100MH1953PTC009189	John Fowler (India) Private Limited	Director	25-03-91	25-03-91	-	Active	NO
15	U74999MH1939PTC002945	The Godavari Sugar Mills Private Limited	Director	04-08-93	04-08-93	24-04-09	Active	NO
16	U85100MH1995PTC094853	John Fowler Ophthalmics Private Limited	Director	29-11-95	29-11-95	14-11-07	Active	NO
17	U65990MH1996PLC099431	Gangabishan Bhikulal Investment and Trading Limited	Director	10-05-96	10-05-96	-	Active	NO
18	U73100MH1997PLC111505	Mahyco Monsanto Biotech (India) Limited	Director	23-10-97	23-10-97	-	Active	NO
19	U29219MH1998PTC115973	Dickinson Fowler Private Limited	Director	27-07-98	27-07-98	-	Active	NO
20	U01120MH1999PLC122855	Mahyco Vegetable Seeds Limited	Director	01-12-99	01-12-99	-	Dormant	NO
21	U74999MH2000PTC123855	Fowler Westrup (India) Private Limited	Director	27-01-00	27-01-00	-	Active	NO
22	U91990MH2001NPL133451	Maharaja Agresen Foundation	Director	24-09-01	24-09-01	-	Active	NO
23	U40107MH1995PLC084203	Mahyco Seeds Limited	Director	20-08-02	20-08-02	-	Amalgamated	NO
24	U74999MH1991PLC061969	Sungro Seeds Limited	Director	28-10-05	28-10-05	-	Active	NO
25	U67120MH2006PTC159783	Barwale Investment And Trading Private Limited	Director	16-02-06	16-02-06	-	Amalgamated	NO
26	U65990MH1990PTC055515	Marathawada Engineers Private Limited	Director	30-09-08	28-04-08	-	Active	NO
27	U73100MH2009PTC191681	Nanophore Life Sciences Private Limited	Director	15-04-09	15-04-09	-	Active	NO
28	U67120MH1956PLC009707	Godavari Biorefineries Limited	Director	12-08-09	24-04-09	-	Active	NO

Name :

Mr. Rajendra Badrinarayan Barwale

Designation :

Director

Address :

72 – B, Urvashi Prtit Estate, Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

12.12.1955

Date of Appointment :

05.02.2001

DIN No.:

00001678

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	U01110MH1978PTC020708	Barwale Seeds Private Limited	Director	19-10-78	19-10-78	-	Active	NO
2	U01110MH1972PLC015630	Jalna Seeds Processing and Refrigeration Company Limited	Director	23-12-78	23-12-78	-	Active	NO
3	U24110MH1984PTC034809	Marathawada Realtors Private Limited	Director	26-02-85	26-02-85	14-11-07	Active	NO
4	U73100MH1987GAP042298	Barwale Foundation	Director	21-10-87	21-10-87	-	Active	NO
5	U29290MH1960PLC059367	Almet Corporation Limited	Director	14-09-89	14-09-89	14-11-07	Active	NO
6	U65990MH1990PTC055402	Neemuch Investment and Trading Private Limited	Director	12-02-90	12-02-90	-	Active	NO
7	U65990MH1990PTC055398	Almet Healthcare Private Limited	Director	12-02-90	12-02-90	-	Active	NO
8	U65990MH1990PTC055468	Jamwadi Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
9	U67120MH1990PTC055473	Harirani Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
10	U65990MH1990PTC055467	Akshnishit Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
11	U67120MH1990PTC055474	Harbhajan Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
12	U65990MH1990PTC055475	Dudhna Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
13	U65990MH1990PTC055470	Rajur Ganapati Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
14	U67120MH1990PTC055472	Nidhona Investment and Trading Private Limited	Director	15-02-90	15-02-90	-	Active	NO
15	U65990MH1990PTC055515	Marathawada Engineers Private Limited	Director	20-02-90	20-02-90	-	Active	NO
16	U67120MH1990PTC055591	Chittoda Investment and Trading Private Limited	Director	28-02-90	28-02-90	-	Active	NO
17	U67120MH1990PTC055592	John Fowler Ocular Lenses Private Limited	Director	28-02-90	28-02-90	-	Active	NO
18	U29100MH1953PTC009189	John Fowler (India) Private Limited	Director	25-03-91	25-03-91	-	Active	NO
19	U31503KA1987PTC008336	R.B.Associates Private Limited	Director	16-03-93	16-03-93	-	Active	NO
20	U85100MH1995PTC094853	John Fowler Ophthalmics Private Limited	Director	29-11-95	29-11-95	14-11-07	Active	NO
21	U65990MH1996PLC099431	Gangabishan Bhikulal Investment and Trading Limited	Director	10-05-96	10-05-96	-	Active	NO
22	U74899DL1991PLC044605	Sungro Seed Exports Limited	Director	29-07-96	29-07-96	-	Dormant	NO
23	U01135JK1973PLC000388	Sungro Seeds Research Limited	Director	29-07-96	29-07-96	-	Amalgamated	NO
24	U73100MH1997PLC111505	Mahyco Monsanto Biotech (India) Limited	Director	23-10-97	23-10-97	-	Active	NO
25	U29219MH1998PTC115973	Dickinson Fowler Private Limited	Director	27-07-98	27-07-98	-	Active	NO
26	U01120MH1999PLC122855	Mahyco Vegetable Seeds Limited	Director	01-12-99	01-12-99	-	Dormant	NO
27	U74999MH1972PLC015791	Seed Trade Association of Maharashtra Limited	Director	22-11-00	22-11-00	-	Under Process of Striking off	NO
28	U74999MH2000PTC123855	Fowler Westrup (India) Private Limited	Director	05-02-01	05-02-01	-	Active	NO
29	U01110MH1992NPL066942	Association of Seed Industry	Director	09-10-01	09-10-01	-	Active	NO
30	U40107MH1995PLC084203	Mahyco Seeds Limited	Managing director	07-03-08	07-03-03	-	Amalgamated	NO
31	U01100MH1970PLC014600	Maharashtra Hybrid Seeds Company Limited	Managing director	18-08-08	18-08-03	-	Active	NO
32	U73100DL1990PLC041486	Biotech Consortium India Limited	Director	24-11-03	24-11-03	-	Active	NO
33	U30007KA1998PTC024374	S.R. Nova Private Limited	Director	24-06-04	24-06-04	-	Active	NO
34	U91990MH2005NPL153954	Indian Foundation Seed and Services Association	Director	14-06-05	14-06-05	-	Active	NO
35	U74999MH1991PLC061969	Sungro Seeds Limited	Director	28-10-05	28-10-05	-	Active	NO
36	U67120MH2006PTC159783	Barwale Investment and Trading Private Limited	Director	16-02-06	16-02-06	-	Amalgamated	NO
37	U72200TN2001PTC047640	Techset Composition India Private Limited	Director	27-09-07	29-08-07	-	Active	NO
38	U73100MH2009PTC191681	Nanophore Life Sciences Private Limited	Director	15-04-09	15-04-09	-	Active	NO
39	U15100MH2004PLC148387	Tunip Agro Limited	Director	24-12-10	25-10-10	-	Active	NO
40	U80302PN2001PLC135348	Maharashtra Knowledge Corporation Limited	Director appointed in casual vacancy	15-01-11	15-01-11	-	Active	NO

Name :

Mr. Ramkrishan Jalan

Designation :

Director

Address :

56 Rajmahal Vilas Extention, 1^st Block, 4^th Cross, Bangalore – 560094, Karnataka, India

Date of Birth/Age :

30.07.1943

Date of Appointment :

05.02.2001

DIN No.:

00012430

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	U29100MH1953PTC009189	John Fowler (India) Private Limited	Director	31-07-91	31-07-91	-	Active	NO
2	U31503KA1987PTC008336	R.B.Associates Private Limited	Director	16-03-93	16-03-93	-	Active	NO
3	U99999KA1995PTC018634	Trincas India Private Limited	Director	05-03-96	05-03-96	-	Strike off	NO
4	U29219MH1998PTC115973	Dickinson Fowler Private Limited	Director	11-12-98	11-12-98	-	Active	NO
5	U74999MH2000PTC123855	Fowler Westrup (India) Private Limited	Director	05-02-01	05-02-01	-	Active	NO
6	U30007KA1998PTC024374	S.R. Nova Private Limited	Managing director	04-03-02	04-03-02	-	Active	NO
7	U51103KA1989PTC010176	S R Nova Commercial Private Limited	Director	29-07-06	29-07-06	-	Active	NO
8	U72200TN2001PTC047640	Techset Composition India Private Limited	Director	27-09-07	29-08-07	-	Active	NO

Name :

Mr. Arun Kannan Thiagarajan

Designation :

Director

Address :

Grace Home, 37, Kanakpura Road, Basavanagudi, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

17.09.1944

Date of Appointment :

19.12.2007

DIN No.:

00292757

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	U72200KA1976PLC027564	Aditya Birla Minacs It Services Limited	Director	02-04-02	02-04-02	-	Amalgamated	NO
2	U72200KA2000PLC027405	Wep Peripherals Limited	Director	22-01-03	22-01-03	10-08-07	Active	NO
3	L85110KA1930PLC000124	ING Vysya Bank Limited	Director	30-01-03	30-01-03	-	Active	NO
4	L32209KA1988PLC009313	ADC India Communications Limited	Director	20-10-03	20-10-03	07-08-11	Active	NO
5	U72200MH2004PTC179939	Citec Engineering India Private Limited	Director	11-02-04	11-02-04	-	Active	NO
6	U85110KA1996PLC021262	Gmr Energy Limited	Director	08-03-04	08-03-04	-	Active	NO
7	U99999KA1995PLC052040	Aditya Birla Minacs Worldwide Limited	Director	07-01-05	07-01-05	-	Active	NO
8	U72200KA2000PLC031939	Aditya Birla Minacs Technologies Limited	Director	22-01-05	22-01-05	04-05-09	Amalgamated	NO
9	L45203KA1996PLC034805	GMR Infrastructure Limited	Director	02-09-05	02-09-05	-	Active	NO
10	L74140MH1992PLC068379	Alstom Projects India Limited	Director	28-12-05	28-12-05	-	Active	NO
11	L31300MH1957PLC010964	Cable Corporation Of India Limited	Director	30-01-06	30-01-06	30-06-09	Active	NO
12	L85110TZ1955PLC015049	TTK Prestige Limited	Director	25-05-06	25-05-06	-	Active	NO
13	L32100GJ1996PLC030976	Idea Cellular Limited	Director	30-09-06	02-09-06	-	Active	NO
14	U72200TN2001PTC047640	Techset Composition India Private Limited	Director	27-09-07	29-08-07	-	Active	NO
15	U72200KA2007FTC043627	Citec Information India Private Limited	Director	11-02-09	11-09-07	-	Active	NO
16	U74999MH2000PTC123855	Fowler Westrup (India) Private Limited	Director	19-12-07	19-12-07	-	Active	NO
17	U85110KA1974PLC002568	Bhuruka Gases Limited	Director	30-09-08	17-04-08	28-01-09	Active	NO
18	L18101KA2004PLC033475	Gokaldas Exports Limited	Director	22-09-09	01-02-09	-	Active	NO

Name :

Mr. Vijaykumar Balakrishna Kilar

Designation :

Managing Director

Address :

F 602, Red Wood, Raheja Residency, 3^rd Block, Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

01.12.1952

Qualification :

BE (Chem. Engg)

Date of Appointment :

01.09.2003

DIN No.:

00394346

Name :

Mr. Peter Thorn

Designation :

Director

Address :

Atterbakkevej 18, Dysted Holnegaard

Date of Birth/Age :

29.09.1966

Date of Appointment :

12.12.2008

DIN No.:

02539405

KEY EXECUTIVES

Name :	Ms. Om Prakash Jagati
Designation :	Secretary
Address :	1208, Nandi Park, Near Gottigheri Bus Stop, Bannarghatta Main Road, Bangalore – 560083, Karnataka, India
Date of Birth/Age :	05.10.1961
Date of Appointment :	15.11.2002
PAN No.:	ABQPJ7408Q
Name :	Mr.Yoganand
Designation :	Accountants and Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
John Fowler (India) Private Limited , Maharashtra, India	4450000
Westrup A/S, Denmark	3000000
Total	7450000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	40.00
Bodies corporate	60.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Transformer Oil Conditioning, Transformer Oil Conditioning Machinery, Agricultural Products, Processing Machinery, Pre Cleaner, Fine Cleaner, Indented Cylinder, Processing Machinery, Handing Equipment Accessories.

Products :

· Transformer Oil Conditioning Machinery

· Agricultural Products Processing Machinery

· Pre Cleaner

· Fine Cleaner

· Indented Cylinder

· Gravity Separator

· Destoner

· Handling Equipment

· Accessories

Product Description	ITC Code
Transformer oil conditioning machinery	842119.09
Agricultural products processing machinery	843710.00

Terms :

Selling :

L/C, Cash and Credit

Purchasing :

L/C, Cash and Credit

PRODUCTION STATUS AS ON (31.03.2010)

Particulars	Unit	Installed Capacity*	Actual Production#
Transformer oil conditioning equipment and allied equipment	Qty. nos.	275	128
Agricultural products processing machinery and allied equipments	Qty. nos.	1500	1085

* As certified by the Managing Director and relied on by the auditors being a technical matter.

# Includes items manufacturer through sub-contractors. Licensed capacity- not applicable.

GENERAL INFORMATION

Suppliers :

· Kiran Engineering

· Metallist Mechanical Engineers

· Penta Force Industrial

· SSS Industries

· Toyo Paints Private Limited

No. of Employees :

156 (Approximately)

Bankers :

• Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
• ING Vysya Bank Limited, 22 M G Road, Bangalore – 560001, Karnataka, India
• Barclays Bank Plc, 20/21, Kamaraj Salai, Kanchipuram-631501, Tamilnadu, India

Facilities :

Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Long term loan from others:
Interest free Sales Tax Deferment Loan	40.746	52.225
Total	40.746	52.225
Note: (Under the capital investment scheme of the Government of Karnataka expired on 13^th August, 2008) (Includes amount due within one year Rs. 11.600 Millions, previous year 10.924 Millions)

Banking Relations :	--
Auditors :
Name :	Sharp and Tannan Chartered Accountant
Address :	Ravindra Annexe, 194, Churchgate Reclamation, Dishaw Vaccha Road, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22047722/ 23/ 66338343-47
Fax No.:	91-22-66338352
E-Mail :	sharp@bom3.vsnl.net.in
PAN.:	AAAFS2967E
Holding Company :	John Fowler (India) Private Limited
Subsidiary :	Radix Systems Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- Each	Rs.90.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7450000	Equity Shares	Rs.10/- Each	Rs.74.500 Millions

NOTE:

Of the above equity shares 4450000 are issued and allotted to John Fowler (India) Private Limited (Holding Company)

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		74.500	74.500	60.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		277.316	189.805	99.928
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		351.816	264.305	159.928
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		40.746	52.225	52.263
TOTAL BORROWING		40.746	52.225	52.263
DEFERRED TAX LIABILITIES		9.569	10.770	6.269
TOTAL		402.131	327.300	218.460
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		210.813	178.304	167.850
Capital work-in-progress		55.530	7.305	0.000
INVESTMENT		140.910	85.652	56.203
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	72.863	66.266	59.791
	Sundry Debtors	91.384	80.794	35.169
	Cash & Bank Balances	10.034	15.032	9.108
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	62.866	20.871	18.872
Total Current Assets		237.147	182.963	122.940
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	72.485	39.926	47.288
	Other Current Liabilities	91.685	45.879	43.737
	Provisions	78.099	41.119	37.508
Total Current Liabilities		242.269	126.924	128.533
Net Current Assets		[5.122]	56.039	(5.593)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		402.131	327.300	218.460

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Service Charges	851.397	719.266	434.198
		Other Income	6.578	9.042	6.798
		TOTAL (A)	857.975	728.308	440.996
Less	EXPENSES
		Cost of Goods Sold	443.464	429.859	219.649
		Employee Cost	70.190	55.556	44.000
		Manufacturing, Selling and Administrative Expenses	152.291	141.981	87.226
		TOTAL (B)	665.945	627.396	350.875
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		192.030	100.912	90.121
Less	FINANCIAL EXPENSES (D)		1.687	0.144	3.963
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		190.343	100.768	86.158
Less/ Add	DEPRECIATION/ AMORTISATION (F)		21.470	17.466	11.901
	PROFIT BEFORE TAX (E-F) (G)		168.873	83.302	74.257
Less	TAX (H)		55.299	31.024	29.487
	PROFIT AFTER TAX (G-H) (I)		113.574	52.278	44.770
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		124.640	96.528	69.197
Less	APPROPRIATIONS
		Transfer to General Reserve	11.400	5.250	3.400
		Tax on Dividend	3.712	2.748	2.039
		Final Dividend	22.350	16.168	12.000
	BALANCE CARRIED TO THE B/S		200.752	124.640	96.528
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	63.058	53.237	NA
		Other Service Charges and Commission Earnings	0.021	0.017	NA
	TOTAL EARNINGS		63.079	53.254	NA
	IMPORTS
		Raw Materials	10.882	6.157	NA
		Stores & Spares	15.358	19.697	NA
		Capital Goods	37.062	1.867	NA
	TOTAL IMPORTS		63.302	27.721	NA
	Earnings Per Share (Rs.)		15.24	8.10	7.46

Particulars	31.03.2011
Sales Turnover (Approximately)	1050.000

Expected Sales ( 2011-2012 ) : Rs. 1200.000 Millions

The above information has been parted by Mr. Yoganand (Accountant and Finance Manager)

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	13.24	7.18	10.15
Net Profit Margin (PBT/Sales)	(%)	19.83	11.58	17.10
Return on Total Assets (PBT/Total Assets}	(%)	37.70	23.06	25.54
Return on Investment (ROI) (PBT/Networth)		0.48	0.32	0.46
Debt Equity Ratio (Total Liability/Networth)		0.80	0.68	1.13
Current Ratio (Current Asset/Current Liability)		0.98	1.44	0.96

LOCAL AGENCY FURTHER INFORMATION

Check list by Info Agents	Available in Reports ( Yes/No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitutions of the Firm	Yes
Premises Details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	--
No. of Employees	Yes
Name of person contacted	Yes
Designation of contact person	Yes
Turnover of Firm fort last three years	Yes
Profitability for last three years	No
Reasons For Variation<>20%	No
Estimation for coming financial year	Yes
Capital in Business	No
Details of Sister Concern	Yes
Major Suppliers	Yes
Major Customers	No
Payment Terms	Yes
Export / Import Details (if Applicable)	No
Market Information	--
Litigations that the firm / Promoter involved in	--
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	--
Buyer visit details	--
Financial, if provided	No
Incorporation details, if applicable	--
Last Account filed at ROC	--
Major shareholder , if available	--

NOTE:

The Registered Address of the Company has been shifted from 19, Khetan Bhavan 198, J Tata Road, Mumbai – 400020, Maharashtra, India to the present address with the effect from 30.06.2007.

CONTINGENT LIABILITIES NOT PROVIDED FOR:

a) Guarantees given to various authorities/customers Rs. 49.618 Millions (Previous yare Rs. 30.175 Millions)

Letter of Credit issued in favour of creditors Rs. 3.760 Millions (Previous year Rs. Nil)

FORM 8

Corporate identity number of the company	U74999MH2000PTC123855
Name of the company	FOWLER WESTRUP INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Raj Mahal Building, 4^th Floor, 84, Veer Nariman Road, Mumbai – 400 024, Maharashtra, India Email : jagati@fowlerwestrup.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10267008
Type of charge	· Immovable Property · Book Debts · Movable Property (not being pledge) · Others
Particular of charge holder	Barclays Bank Plc, 20/21, Kamaraj Salai, Kanchipuram-631501, Tamilnadu, India Email: ravindran.m@barclays.com
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	29.06.2011
Amount secured by the charge	Rs. 360.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest : As agreed by and with the bank from time to time Terms of Repayment : As agreed by and with the bank from time to time Margin : As agreed by and with the bank from time to time Extent and operation of charge: 2^nd pari passu charge by way of hypothecation on all the current and movable fixed assets of the borrower present and future located at 249 and 250, 3^rd phase. Bommasandra Industrial Area, Bangalore 2^nd pari passu charge by way of mortgage on immovable property of the company situated at Hulimangala Hoskote, Lakkur Hobli, Kolar. Exclusive charge on all the movable fixed assets of the borrower present and future located at Plot No.30,61,62 and 63 of Malur Industrial Area, 4 Phase, Kolar, Karnataka
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive charge on all the movable fixed assets of the borrower present and future located at Plot No.30,61,62 and 63 of Malur Industrial Area, 4 Phase, Kolar, Karnataka 2^nd Pari passu charge on all the current assets and movable fixed assets both present and future of the borrower Plot No. 60, 61, 62 and 63 of Malur 4 Phase Industrial Area, S.Nos. 125,130 to 133 and 261 of Hulimangala Hoskote, Lakkur Hobli, Kolar
Date of instrument modifying the charge	11.04.2011
Particulars of the present modification	Bank had granted facilities of Rs. 360.000 millions which was secured by way of hypothecation on current and movable assets of the company 10.02.2011. Bank had granted additional collateral security is created by way of mortgage on immovable property of the company on 11.01.2011. Now bank has granted additional security is created by way of hypothecation of movable fixed assets both present and future of the borrower, located at Plot No. 61,62 and 63 of Malur Industrial Area, 4 Phase, Kolar and the said charge is modified accordingly.

TRADE REFERENCES

· Kiran Engineering

· Metallist Mechanical Engineers

· Penta Force Industrial

· SSS Industries

· Toyo Paints Private Limited

FIXED ASSETS

• Land – Freehold
• Factory Building
• Building
• Plant and Machinery
• Furniture and Fixture
• Office Equipment
• Vehicles

WEBSITE DETAILS

PROFILE:

Subejct was incorporated in the year 2000 as a joint venture between John Fowler (India) Private Limited and Westrup A/s, Denmark for manufacturing Post Harvest Agricultural processing machinery and Transformer Oil conditioning machinery. The operations commenced in the year 2001.

The Joint venture promoter John Fowler India has been serving the Indian Industry since 1953.  The Joint venture made it possible to absorb new technology rapidly to serve the domestic as well as global markets.

Westrup, Denmark is a leading global company manufacturing of equipment for post harvest agricultural equipments. They have installations and offices around the world including USA, UK, Germany, Belgium, France, Australia etc. (www.westrup.com)

Company total solutions and Turnkey Projects to meet the varying demands of the customer.

Company is committed to providing equipments and services of the highest quality standards encompassing suitability for intended use, performance reliability, safety and durability. This is reflected in the Values, Vision and Mission statements.

Company is located at Plot No. 249 and 250, 3rd Phase, Bommasandra Industrial Area, Bangalore 560 099, India, close to NH7 on Bangalore – Hosur Highway, 5 kms from the Electronics City. The modern factory has a state-of-the-art manufacturing facility.

The product range of company is augmented by the Gravity Separators and De-stoners for Seeds/ Grains through Technical Collaboration with Oliver of USA. (www.olivermfgco.com)

Company has a Technical Collaboration with Silos Cordoba of Spain for Grain Storage Silo systems. The manufacturing range includes GIC (Galvanised Iron Corrugated) Silos with capacity from 10 tons to 1500 Metric tons of Hopper Bottom Silos and for 250 to 15,000 Metric tons of Flat Bottom Silos. The wallrings of these silos are made of high grade galvanized steel which offers resistance to corrosion and erosion. The design combines the requirement of their clients with the most modern materials and technological innovations. Fowler Westrup supplies complete Grain Storage Systems for operations starting from the time the grain arrives at the customer place up to bagging and delivering for dispatch.

The Post Harvest Agricultural processing machinery includes Pre Cleaners, Fine Cleaners, Gravity Separators, De-stoners, Indented Cylinders and a variety of conveyors, bucket elevators, bins, dust handling equipments and offer turnkey plants for processing hybrid seeds, grains like Rice, Wheat, Maize, nuts, spices, beans, coffee, tea and for most of the agricultural products.

The Transformer Oil conditioning and filtration machines are manufactured under the brand name NIRMAL which can also handle Capacitor Oil and Silicone Fluids. NIRMAL FILTERS for decades have been serving the power sector and is synonymous with Transformer Oil Filtration in India and can provide total custom solutions. NIRMAL FILTERS are available in capacities ranging from 50 to 12,000 liters per hour. Transformer Oil filtration and Regeneration machines are exported to countries in Europe, USA, UK, Gulf Countries, South East Asia, Bangladesh to name a few.

Addition to the basket of products has come through Transformer Oil Regeneration machine. Regeneration is the system followed when oil purification is insufficient and restoration of the oil is required to virgin oil specifications.  This will ensure the control of acidity level of the oil thus giving prolonged life to the expensive transformers.

Company employs qualified and experienced manpower trained in India, Denmark, Spain, UK and USA.

In order to have quick response mechanism to meet the customer needs, the company has implemented SAP ERP Package to strengthen information network and processing. The company aims to have zero defects in all its operations. Total Quality Management including Six Sigma is part of the initiatives to be a supplier of delight to the customers.

The company has been able to establish a cliental of repute both in Public and Private sectors for Seed Processing machines and Transformer Oil Filtration machines and the business has gone up ten fold in the span of 7 years of commercial operations.

Corporate Social Responsibility is always a priority at company. Company is helping a leading charitable trust towards adoption and development of a village panchayat Deburu comprising of 4 villages Deburu, Byalaru, Handuvinahalli, Kathwadi Pura and Kallalli – 30 kms from Mysore. The objective is Sustainable Economic Development, Improved Health, and over all Human Development with increased and improved access to education, adult literacy, clean village and environment.

Company is now proud to have its presence in UK through its wholly owned subsidiary Radix Systems Limited located at Premier Centre, Abbey Park, Romsey, Hampshire, England for manufacture of Opto Electronic sorters for Grain, seeds, Nuts, pulses, Biscuits, confectionery and formed products, Cereals, snacks, Potato products, Vegetables and fruits, light weight products – flakes and herbs, Rice etc.(www.radixsystems.co.uk)

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.50.90
UK Pound	1	Rs.80.30
Euro	1	Rs.68.48

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	NO
--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		50

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.