1. Summary Information

		Country	India
Company Name	TEMPEL PRECISION METAL PRODUCTS INDIA PRIVATE LIMITED	Principal Name 1	Ms. Angeline Viji Samuel
Status	Moderate	Principal Name 2	Mr. Baburao Pasupuneti
		Registration #	18-057901
Street Address	Plot No. A-30, D 6 Phase, II Zone B, MEPZ, Tambaram, Chennai-600045, Tamilnadu
Established Date	25.10.2005	SIC Code	--
Telephone#	91-44-43959004	Business Style 1	Manufacturer
Fax #	91-44-43959200	Business Style 2	--
Homepage	http://www.tempel.com	Product Name 1	Magnetic Steel Laminations
# of employees	220 [Approximately]	Product Name 2	--
Paid up capital	Rs.19,925,000/-	Product Name 3	--
Shareholders	Foreign holdings 99.99%, Directors or relatives of directors 0.01%	Banking	Bank of America
Public Limited Corp.	No	Business Period	6 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ca (23)
Related Company
Relation	Country	Company Name	CEO
Parent Holding Company	USA	Tempel Holdings Inc.	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	438,562,000	Current Liabilities	1,190,152,000
Inventories	229,760,000	Long-term Liabilities	89,081,000
Fixed Assets	462,980,000	Other Liabilities	12,607,000
Deferred Assets	000	Total Liabilities	1,291,840,000
Invest& other Assets	19,806,000	Retained Earnings	000
		Net Worth	(140,732,000)
Total Assets	1,151,108,000	Total Liab. & Equity	1,151,108,000
Total Assets (Previous Year)	1,023,921,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	958,307,000	Net Profit	102,434,000
Sales(Previous yr)	720,369,000	Net Profit(Prev.yr)	(213,971,000)

MIRA INFORM REPORT

Report Date :

11.10.2011

IDENTIFICATION DETAILS

Name :	TEMPEL PRECISION METAL PRODUCTS INDIA PRIVATE LIMITED
Registered Office :	Plot No. A-30, D 6, Phase II, Zone B, MEPZ, Tambaram, Chennai-600045, Tamilnadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	25.10.2005
Com. Reg. No.:	18-057901
Capital Investment / Paid-up Capital :	Rs.19.925 Millions
CIN No.: [Company Identification No.]	U29299TN2005PTC057901
TAN No.: [Tax Deduction & Collection Account No.]	CHET08979F
PAN No.: [Permanent Account No.]	AACCT3274G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Magnetic Steel Laminations.
No. of Employees :	220 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ca (23)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears huge accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

LOCATIONS

Registered Office/Factory :	Plot No. A-30, D 6, Phase II, Zone B, MEPZ, Tambaram, Chennai-600045, Tamilnadu, India
Tel. No.:	91-44-43959004
Fax No.:	91-44-43959200
E-Mail :	brao@tempel.com vlakshminarayanan@tempel.com nravichandran@temple.com
Website :	http://www.tempel.com
Area :	Rented
Location :	20000 Sq. Ft.
Corporate Office:	5500 N Wolcott Avenue, Chicago IL 60640-1020, USA.
Tel No.:	773-250-8000
Fax No.:	773-250-8910
Website :	http://www.tempel.com
Branch Office :	Located at : Chennai USA China Mexico Canada Bensalem Chicago

DIRECTORS

As on 23.09.2010

Name :

Ms. Angeline Viji Samuel

Designation :

Director

Address :

43, Park Road, Anna Nagar, Western Extension, Chennai-600101, Tamilnadu, India.

Date of Birth/Age :

14.11.1967

Date of Appointment :

25.10.2005

Din No.:

00649207

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	U24123TN2001PTC046869	BIOCROP PRIVATE LIMITED	Director	27-02-02	27-02-02	24-04-06	Active	NO
2	U30007TN1996PLC037018	VENTURE LIGHTING INDIA LIMITED	Director	03-11-08	09-02-04	-	Active	NO
3	U29299TN2005PTC057901	TEMPEL PRECISION METAL PRODUCTS INDIA PRIVATE LIMITED	Director	25-10-05	25-10-05	01-12-10	Active	NO
4	U31501TN2007PTC061950	CEMA ELECTRIC LIGHTING PRODUCTS INDIA PRIVATE LIMITED	Director	25-09-08	04-01-07	01-06-10	Active	NO
5	U31503KL2007PTC022483	PROSPERITY LIGHTING INDIA PRIVATE LIMITED	Director	10-01-07	10-01-07	-	Active	YES

Name :

Mr. Baburao Pasupuneti

Designation :

Whole time Director

Address :

6-1-654, Lakdi Ka Pool, Khairatabad, Hyderabad-500004, Andhra Pradesh, India

Date of Birth/Age :

25.03.1951

Date of Appointment :

11.01.2006

Din No.:

00744568

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	U29299TN2005PTC057901	TEMPEL PRECISION METAL PRODUCTS INDIA PRIVATE LIMITED	Whole-time director	29-11-06	11-01-06	Active	NO

Name :

Mr. Gary Clifton Wagner

Designation :

Director

Address :

RFD Box-5436, Long Grove, llinois-60610, United States of America

Date of Birth/Age :

12.07.1952

Date of Appointment :

25.10.2005

Din No.:

01376637

Name :

Mr. Vincent Joseph Buonanno

Designation :

Director

Address :

1405 N Dearborn, Chicago, llinois-60610, United States of America

Date of Birth/Age :

20.03.1943

Date of Appointment :

25.10.2005

Din No.:

01376665

Name :

Mr. Jeffrey Allen Bloxdorf

Designation :

Director

Address :

11028 87^th Street, Kenosha, Wisconsin-53142, United States of America

Date of Birth/Age :

24.04.1957

Date of Appointment :

25.10.2005

Din No.:

01469465

Name :

Mr. D Joseph Ridyard

Designation :

Director

Address :

24 W Brookwood Drive, Arlington Heights, llinois-60004, United States of America

Date of Birth/Age :

17.12.1958

Date of Appointment :

25.10.2005

Din No.:

01469501

Name :

Mr. Ronald Emil Bailitz

Designation :

Director

Address :

1107 Viator Ct, Arlington Heights, llinois-60004, United States of America

Date of Birth/Age :

25.04.1941

Date of Appointment :

25.10.2005

Din No.:

01781397

Name :

Mr. Gopalakrishnan Ramamurthy

Designation :

Managing Director

Address :

F-2, I Madhurams Flat, 4/2, Krishna Avenue, Alwarpet, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

10.06.1952

Date of Appointment :

11.09.2007

Din No.:

01784691

Name :

Mr. William Eugene Charney

Designation :

Director

Address :

# 13 Water Colour Cay, P O Box, SP-60366, New Providence NPSP

Date of Birth/Age :

19.09.1940

Date of Appointment :

25.10.2005

Din No.:

01785930

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2010

Names of Shareholders	No. of Shares
Tempel Steel Company	1992530
Viji Samuel	10
Total	1992540

As on 23.09.2010

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	99.99
Directors or relatives of directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Magnetic Steel Laminations.

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Magnetic Steel Laminations	MT	100000	20000	9467

GENERAL INFORMATION

No. of Employees :

220 [Approximately]

Bankers :

• Bank of America, 748, Anna Salai, Chennai-600002, Tamilnadu, India

• Kotak Mahindra Bank Limited, 555, Anna Salai, Chennai-600018, Tamilnadu, India
• Barclays Bank Plc, 20/21, Kamaraj Salai, Kanchipuram-631501, Tamilnadu, India
• Indian Bank

Facilities :

Unsecured Loan	As on 31.03.2010 [Rs. in Millions]	As on 31.03.2009 [Rs. in Millions]
Loan From Holding Company
ECB Loan I	45.140	50.950
ECB Loan II	43.941	49.596
Total	89.081	100.546

Banking Relations :	--
Auditors :
Name :	Venkat and Vasan Chartered Accountants
Address :	New No.27 (Old No.44), Parangusapuram Street, Chennai-600024, Tamilnadu, India
Tel. No.:	91-44-24832550 / 24735213
E-Mail :	venkatvasan@eth.net
Holding Company:	Tempel Steel Company
Parent Holding Company:	Tempel Holdings Inc. USA
Fellow Subsidiaries:	Tdo B Inc, USA Tempel HK Holdings Inc, Hong Kong Tempel (Changzhou) Precision Metal Products Company Limited, China
Associates :	Tempel de Mexico Servicos, Mexico Temple de Maxico S. De. R.L. De. C.V., Mexico Temple Canada Company, Canada, (BCL Magnetics, Canada)

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1992540	Equity Shares	Rs.10/- each	Rs.19.925 Millions

After 23.09.2010

Authorised Capital : Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.302.738 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		19.925	17.600	17.600
2] Share Application Money		0.000	2.325	2.244
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(160.657)	(263.090)	(49.119)
NETWORTH		(140.732)	(243.165)	(29.275)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		89.081	100.546	97.136
TOTAL BORROWING		89.081	100.546	97.136
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		(51.651)	(142.619)	67.861
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		462.980	462.845	435.505
Capital work-in-progress		19.801	60.826	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	76.072	13.339
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	229.760.	211.146	115.417
	Sundry Debtors	238.356	189.411	128.381
	Cash & Bank Balances	70.964	16.946	67.165
	Other Current Assets	0.000	1.050	5.752
	Loans & Advances	129.242	5.614	4.198
Total Current Assets		668.322	424.167	320.913
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1171.580	1149.930	687.513
	Other Current Liabilities	18.572	7.339	10.893
	Provisions	12.607	9.271	3.507
Total Current Liabilities		1202.759	1166.540	701.913
Net Current Assets		(534.437)	(742.373)	(381.000)
MISCELLANEOUS EXPENSES		0.005	0.011	0.017
TOTAL		(51.651)	(142.619)	67.861

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES		958.307	720.369	434.181
	PROFIT / LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		NA	(195.428)	11.791
Less	FINANCIAL EXPENSES		NA	4.559	0.560
	PROFIT / LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION		192.874	(199.987)	11.231
Less/ Add	DEPRECIATION/ AMORTISATION		91.877	75.796	51.395
	PROFIT / LOSS BEFORE TAX		100.997	(275.783)	(40.164)
Less	TAX		(1.437)	(61.812)	(5.512)
	PROFIT / LOSS AFTER TAX		102.434	(213.971)	(34.652)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(263.091)	(49.119)	(14.468)
	BALANCE CARRIED TO THE B/S		(160.657)	(263.090)	(49.120)
	IMPORTS
		Raw Materials	208.251	252.812	219.702
		Capital Goods	70.542	138.868	162.599
	TOTAL IMPORTS		278.793	391.680	382.301
	Earnings / Loss Per Share (Rs.)		51.41	(121.57)	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Net Profit Margin (PBT/Sales)	(%)	10.54	(38.28)	(9.25)
Return on Total Assets (PBT/Total Assets}	(%)	8.93	(31.09)	(5.31)
Return on Investment (ROI) (PBT/Networth)		(0.72)	(1.13)	(1.37)
Debt Equity Ratio (Total Liability/Networth)		(9.18)	(5.21)	(27.29)
Current Ratio (Current Asset/Current Liability)		0.55	0.36	0.46

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATIONS:

The Company had produced 9,467 MT of Steel Laminations during the year ended 31^st March 2010. During the year your company sold 9,415 MT of Steel Laminations.

GENERAL:

• The recovery trend started in the previous year continued to affect their Sales and Operation in the first half of the year.

• However due to the Government impetus and other initiative by the company they could recover from the recessionary impact faster than anticipated.

• They are also pleased that these measures have helped the company to show increase over the previous year sales.

• The company continues to make in roads in gaining more customers / business shares from the existing customers.

ELECTRICAL MOTORS:

• The previous year investment on tools, plant and machinery is bearing fruits.

• They have increased our sale to various generator manufacturers like Suzlon, Enercon, Regen and Leitner.

• They are building technologically superior dies for both Videocon and Tecumseh, which has been appreciated by customers and this has also pioneered this auto staking technology in India.

• They also added Aqua Pump as a customer who are a pump manufacturer.

• They have made entry into the air conditioner compressor motor by finalizing order with Tecumseh Hyderabad.

AUTOMOTIVE:

They have finalized order with Mitsuba Sical thereby making entry into two wheeler auto market.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	10298970
Corporate identity number of the company	U29299TN2005PTC057901
Name of the company	TEMPEL PRECISION METAL PRODUCTS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. A-30, D 6, Phase II, Zone B, MEPZ, Tambaram, Chennai-600045, Tamilnadu, India
Type of charge	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 description of the instrument creating or modifying the charge	Deed of Hypothecation.
Date of instrument Creating the charge	07.09.2011
Amount secured by the charge	Rs.97.000 Millions
Brief particulars 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 the charge 1. 1st ranking exclusive charge by way of Hypo. On all the Current and Movable fixed assets both present and future of the Borrower, in favour of Barclays Bank PLC, to secure the repayment of financial facilities granted by the Bank to the Borrower. 2. Exclusive charge by way of Hypothecation on all the Current assets and Movable fixed assets both present and future of the Borrower, in favour of Barclays Bank PLC, to secure the repayment of financial facilities granted by the Bank to the to the Borrower
Short particulars of the property charged	I) First ranking exclusive charge on all Current assets of the Borrower both present and future, more particularly described in principal Deed of Hypothecation dated 11/07/2011. II) First ranking exclusive charge on all Movable fixed assets of the Borrower both present and future. III) Exclusive charge on all the Current assets and Movable fixed assets both present and future of the Borrower.
Date of latest modification prior to the present modification	04.08.2011
Particulars of the present modification	Bank had granted facilities of Rs.50.000 Millions which was secured by way of Hypothecation on Current assets and Moveable fixed assets of the Company on 11/07/2011. Said charge was modified on 04/08/2011. Now bank has granted additional financial facility of Rs.97.000 Millions to the Borrower and the said charge is modified and extended to the increased total facilities of Rs.147.000 Millions

FIXED ASSETS

• Building
• Plant and Machinery
• Office Equipments
• Furniture and Fixture
• Computer
• Vehicles

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.49.07
UK Pound	1	Rs.76.65
Euro	1	Rs.66.17

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	-
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		23

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.