MIRA INFORM REPORT

Report Date :

20.10.2011

IDENTIFICATION DETAILS

Name :	ASIA MATCH COMPANY PRIVATE LIMITED
Registered Office :	17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	16.04.1971
Com. Reg. No.:	18-005975
Capital Investment / Paid-up Capital :	Rs. 7.200 Millions
CIN No.: [Company Identification No.]	U24291TN1971PTC005975
IEC No.:	0488012031
PAN No.: [Permanent Account No.]	AACCAZ744G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Safety Match sticks, Wax Match Sticks and Safety Match Machinery.
No. of Employees :	Approximately 3000

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 130000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – 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. Pramod Sarkar
Designation :	Director
Contact No.:	91-9790017656
Date :	14.10.2011

LOCATIONS

Registered Office/ Factory :	17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamil Nadu, India
Tel. No.:	91-4562-222422
Mobile No.:	91-9790017656(Mr. Pramod Sarkar)
Fax No.:	91-4562-2272655/ 222056
E-Mail :	pioneev@pioneerasia.com finance@pioineerasia.com export@pioneerasia.com
Website :	http://www.pioneerasia.com
Area :	4 Acre
Location	Owned

DIRECTORS

Name :

Mr. Sankaralingam Annamalai

Designation :

Director

Address :

Boopathy Building, 16, Virudh Nagar Road, Sivakasi-626123, Tamil Nadu, India

Date of Birth/Age :

26.04.1947

Date of Appointment :

12.07.1972

DIN No.:

00001381

Other Directorship:

Top of Form

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	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	12/07/1972	12/07/1972	-	Active	NO
2	U24297TN1972PLC006245	PANDIAN CHEMICALS LIMITED	Director	29/09/1973	29/09/1973	-	Active	NO
3	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	-	Active	NO
4	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	-	Active	NO
5	U65993TN1984PTC010640	NIRANJAN SANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	-	Active	NO
6	U36911TN1987PLC014168	MEPCO INDUSTRIES LIMITED	Director	22/12/2006	25/03/1987	-	Active	NO
7	U05005TN1992PLC061574	PIONEER MARINE PRODUCTS LIMITED	Director	02/09/1992	02/09/1992	-	Active	NO
8	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	-	Active	NO
9	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	18/05/1994	18/05/1994	-	Active	NO
10	U28910TN1961PLC004478	METAL POWDER CO LIMITED	Director	15/10/1994	15/10/1994	-	Active	NO
11	U40101TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	-	Active	NO
12	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	-	Active	NO
13	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	-	Active	NO
14	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	-	Active	NO
15	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Active	NO
16	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
17	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Managing director	02/11/2006	02/11/2006	-	Active	NO
18	U31103TN1995PTC074436	PRECISION HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	-	Active	NO
19	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	-	Active	NO
20	U74999TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	23/01/2008	23/01/2008	-	Active	NO
21	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	11/01/2010	11/01/2010	-	Active	NO
22	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	11/01/2010	11/01/2010	-	Active	NO
23	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	19/11/2010	19/11/2010	-	Active	NO

Bottom of Form

Name :

Mr. Maheswaran Sankaralingam

Designation :

Director

Address :

174/A-1, Gagangiri Road, Sivakasi-626123, Tamil Nadu, India

Date of Birth/Age :

07.09.1948

Date of Appointment :

12.07.1972

DIN No.:

00143046

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	U22121TN1968PTC005639	STANDARD PAPER CONTAINERS PRIVATE LIMITED	Director	14/08/1968	14/08/1968	-	Active	NO
2	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	12/07/1972	12/07/1972	-	Active	NO
3	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	-	Active	NO
4	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	20/11/1976	20/11/1976	-	Active	NO
5	L21012PY1974PLC000125	THE PONDICHERRY PAPERS LIMITED	Director	30/11/1976	30/11/1976	-	Active	YES
6	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	-	Active	NO
7	U65993TN1984PTC010638	PRADEEP SANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	-	Active	NO
8	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	-	Active	NO
9	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	04/12/1987	04/12/1987	-	Active	NO
10	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	-	Active	NO
11	U05005TN1992PLC061574	PIONEER MARINE PRODUCTS LIMITED	Director	02/09/1992	02/09/1992	-	Active	NO
12	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	-	Active	NO
13	U24292TN1993PLC024919	STANDARD PYROTECHNICS LIMITED	Director	30/01/1994	30/01/1994	-	Active	NO
14	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	-	Active	NO
15	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Director	10/08/1995	10/08/1995	-	Active	NO
16	U40101TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	-	Active	NO
17	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	-	Active	NO
18	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	-	Active	NO
19	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	-	Active	NO
20	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Active	NO
21	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	07/08/2006	07/08/2006	-	Active	NO
22	U31103TN1995PTC074436	PRECISION HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	-	Active	NO
23	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	-	Active	NO
24	U74999TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	23/01/2008	23/01/2008	-	Active	NO
25	U24291TN2008PTC068179	SOLOPIONEER MATCH PRIVATE LIMITED	Director	12/06/2008	12/06/2008	-	Active	NO
26	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	-	Active	NO
27	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	-	Active	NO
28	U22219TN2008PTC068796	BLUE HILLS ENTERPRISES PRIVATE LIMITED	Director	07/08/2008	07/08/2008	-	Active	NO
29	U93090TN1949GAP002688	ALL INDIA CHAMBER OF MATCH INDUSTRIES	Director	27/05/2010	27/05/2010	-	Active	NO
30	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	19/11/2010	19/11/2010	-	Active	NO

Name :

Mr. Arunachalam Tenzing

Designation :

Director

Address :

‘Pioneer House’, 174-A, Gnanagiri Road, Viridhnagar, Sivakasi-626123, Tamil Nadu, India

Date of Birth/Age :

17.06.1953

Date of Appointment :

20.08.1982

DIN No.:

00014412

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	U24294TN1976PTC007180		PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	-	Active	NO
2	U24291TN1971PTC005975		ASIA MATCH COMPANY PRIVATE LIMITED	Director	20/08/1982	20/08/1982	-	Active	NO
3	U20211TN1976PTC007225		ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	20/08/1982	20/08/1982	-	Active	NO
4	U22211TN1978PTC007599		PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	-	Active	NO
5	U24292TN1977PTC007319		STANDARD FIRE WORKS PRIVATE LIMITED	Director	16/03/1983	16/03/1983	-	Active	NO
6	U65993TN1984PTC010639		ARUNSANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	-	Active	NO
7	U27203TN1983PLC009916		ALUMINIUM POWDER COMPANY LIMITED	Director	01/08/1984	01/08/1984	-	Active	NO
8	U60210TN1961PTC004641		TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	-	Active	NO
9	U24290TN1980PTC008210		MODERN MATCHES PRIVATE LIMITED	Director	04/12/1987	04/12/1987	-	Active	NO
10	U24292TN1990PTC019468		RAJARATNAM FIREWORKS PRIVATE LIMITED	Director	01/08/1990	01/08/1990	-	Active	NO
11	U28910TN1961PLC004478		METAL POWDER CO LIMITED	Director	26/09/1990	26/09/1990	-	Active	NO
12	U24294TN1991PTC025332		VICTORY CHEMICALS PRIVATE LIMITED	Director	11/07/1991	11/07/1991	-	Active	NO
13	U24295TN1991PTC060630		PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	-	Active	NO
14	U05005TN1992PLC061574		PIONEER MARINE PRODUCTS LIMITED	Director	02/09/1992	02/09/1992	-	Active	NO
15	U51909TN1993PTC061576		PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	-	Active	NO
16	U24292TN1993PLC024919		STANDARD PYROTECHNICS LIMITED	Director	30/01/1994	30/01/1994	-	Active	NO
17	U25209TN1983PTC010341		PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	-	Active	NO
18	U65993TN1998PTC041245		AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	-	Active	NO
19	U24291TN2000PTC045347		ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	-	Active	NO
20	U72200TN2001PTC047036		INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	-	Active	NO
21	U28100TN1974PLC006569		NALCO METAL PRODUCTS LIMITED	Director	27/09/2001	27/09/2001	-	Active	NO
22	U17111TN1962PLC004842		SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	07/08/2006	07/08/2006	-	Active	NO
23	U22211TN2006PTC059398		VISALAKSHI ENTERPRISES PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO

Name :

Mr. Ashok Sankarlingam

Designation :

Director

Address :

56, Shield Road, Sivakasai, Virudhnagar, Sivakasi-626123, Tamil Nadu, India

Date of Birth/Age :

25.03.1954

Date of Appointment :

20.08.1982

DIN No.:

00143164

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	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	-	Active	NO
2	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	20/08/1982	20/08/1982	-	Active	NO
3	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	22/08/1982	22/08/1982	-	Active	NO
4	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	-	Active	NO
5	U65993TN1984PTC010653	BOOPATHY INVESTMENTS PRIVATE LIMITED	Director	16/02/1984	16/02/1984	-	Active	NO
6	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	24/09/1987	24/09/1987	-	Active	NO
7	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	04/12/1987	04/12/1987	-	Active	NO
8	U24292TN1990PTC019468	RAJARATNAM FIREWORKS PRIVATE LIMITED	Director	01/08/1990	01/08/1990	-	Active	NO
9	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	-	Active	NO
10	U05005TN1992PLC061574	PIONEER MARINE PRODUCTS LIMITED	Director	02/09/1992	02/09/1992	-	Active	NO
11	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	-	Active	NO
12	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	-	Active	NO
13	U40101TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	-	Active	NO
14	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	-	Active	NO
15	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	-	Active	NO
16	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	-	Active	NO
17	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Managing director	10/04/2010	21/03/2005	-	Active	NO
18	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	-	Active	NO
19	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Director	22/08/2005	22/08/2005	-	Active	NO
20	U31103TN1995PTC074436	PRECISION HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	-	Active	NO
21	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	-	Active	NO
22	U93090TN1949GAP002688	ALL INDIA CHAMBER OF MATCH INDUSTRIES	Additional director	30/06/2007	30/06/2007	27/05/2010	Active	NO
23	U74999TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	23/01/2008	23/01/2008	-	Active	NO
24	U24291TN2008PTC068179	SOLOPIONEER MATCH PRIVATE LIMITED	Director	12/06/2008	12/06/2008	-	Active	NO
25	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	-	Active	NO
26	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	-	Active	NO
27	U91100TN2009NPL073004	MATCH MANUFACTURERS SERVICE ASSOCIATION	Director	24/09/2009	24/09/2009	-	Active	NO
28	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	19/11/2010	19/11/2010	-	Active	NO

Name :

Mr. Pramod Sarkar

Designation :

Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2006

Names of Shareholders	No. of Shares
S Annamalai	3120
S Maheshwaran	3120
A Tenzing	4800
S Ashok	3120
S Annamalai (HUF)	2280
S Mahewaran (HUF)	2280
S Ashok (HUF)	5280
A Tenzing (HUF)	6600
Niranjansankar Enterprises Private Limited, Tamilnadu, India	6000
Pradeepsankar Enterprises Private Limited, Tamilnadu, India	6000
Boopathy Investments Private Limited, Tamilnadu, India	6000
Arunshankar Enterprises Private Limited, Tamilnadu, India	6600
A Niranjanshankar	1500
M. Pradeepsankar	3000
T Arunsankar	10800
A Promodsankar	1500
Total	72000

Equity Share Breakup (Percentage of Total Equity0

As on 30.09.2010

Category	Percentage of Holding
Bodies corporate (not mentioned above)	34.00
Directors or relatives of directors	66.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Safety Match sticks, Wax Match Sticks and Safety Match Machinery.

Products :

· Safety Matches

· Cardboard Matches

· WAX Matches

· Kitchen Matches

· Barbeque Matches

· Advertising Matches

· Novelty Matches

· Safety Match Machinery

· Long Matches

Product Description	ITC Code
Safety Matches	360500-01

Exports :

Products :

Safety Match Sticks an Wax Match Sticks

Imports :

Products :

Raw Material

Countries :

· China

· Taiwan

· Russia

Terms :

Selling :

Credit

Purchasing :

Credit

GENERAL INFORMATION

Suppliers :

ITC

Customers :

Wholesalers and Retailers

No. of Employees :

Approximately 3000

Bankers :

· Indian Overseas Bank, Geethalaya Buildings, Chairman Shunmuga Nadar Road, Sivakasi-626123, Tamil Nadu, India

· State Bank of India Velayutham Road, Main Branch, Sivakasi-626123, Tamilnadu, India

· Axis Bank, Sivakasi Branch

· Indian Overseas Bank, Madurai Main Branch, 135, Palace Road, Madurai-625001, Tamil Nadu, India

· Indian Overseas Bank, Madurai Main Branch, 127, East Veli Street, Madurai-625001, Tamilnadu, India

Facilities :

Cash Credit Rs. 35.000 Millions (From Axis Bank)

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Secured Loans- Cash Credit	27.097	20.037
Secured Loans	2.970	4.459
Total	30.067	24.496

Banking Relations :	Satisfactory
Auditors :
Name :	S Chandrasekaran Chartered Accountant
Address :	12, Katha Nadar Street, Sivakasi-626123, Tamil Nadu, India
Tel. No.:	91-4562-220616
PAN No.:	ABEPC3994J
Sister Concern:	Shri Ayyanar Address: 17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamil Nadu, India Activity: Manufacturer of Spining Mills.

CAPITAL STRUCTURE

As on 29.09.2008

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
72000	Equity Shares	Rs. 100/- each	Rs. 7.200 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		7.200	7.200	7.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		40.000	40.000	40.000
4] (Accumulated Losses)		[14.077]	[16.448]	0.000
NETWORTH		33.123	30.752	47.200
LOAN FUNDS
1] Secured Loans		30.067	24.496	41.578
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		30.067	24.496	41.578
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		63.190	55.248	88.778
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		59.351	59.127	55.677
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.921	4.921	5.117
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	42.852	43.947	45.439
	Sundry Debtors	96.142	80.616	57.033
	Cash & Bank Balances	6.194	14.804	20.917
	Other Current Assets	7.899	6.993	22.239
	Loans & Advances	3.279	4.394	3.296
Total Current Assets		156.366	150.754	148.924
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	146.635	149.004	120.940
	Other Current Liabilities	10.813	10.550
	Provisions
Total Current Liabilities		157.448	159.554	120.940
Net Current Assets		[1.082]	[8.800]	27.984
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		63.190	55.248	88.778

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	473.226	340.964	NA
		Other Income	10.269	8.491	NA
		TOTAL	483.495	349.455	NA
Less	EXPENSES
		Cost of Goods Sold	243.281	148.206
		Raw Material Consumed	118.264	99.991
		Salaries, Wages and Bonus	41.135	37.490
		EPF, ESI and Amenities	10.158	8.956
		Printing Stationer and P and T Expenses	1.178	1.224	NA
		Commission, Brokerage and Rebate	6.596	3.453
		Carriage Expenses	22.869	13.886
		Interest	10.245	9.575
		Other Expenses	21.192	21.040
		TOTAL	474.918	343.821	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		8.577	5.634	NA
Less/ Add	DEPRECIATION/ AMORTISATION		6.205	5.569	NA
	PROFIT BEFORE TAX		2.372	0.065	[8.177]
Less	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX		2.372	0.065	[8.177]
	IMPORTS
		Raw Materials	40.768	34.175	NA
	TOTAL IMPORTS		40.768	34.175	NA
	Earnings Per Share (Rs.)		32.94	--	--

Particulars	31.03.2011
Sales Turnover (Approximately)	550.000

The above information has been parted by Mr. Pramod Sarkar

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.49	0.02	NA
Net Profit Margin (PBT/Sales)	(%)	0.50	0.02	NA
Return on Total Assets (PBT/Total Assets}	(%)	1.10	0.03	[3.99]
Return on Investment (ROI) (PBT/Networth)		0.07	0.002	0.17
Debt Equity Ratio (Total Liability/Networth)		5.66	5.98	1.47
Current Ratio (Current Asset/Current Liability)		0.99	0.94	1.23

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (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 for last 2 years	Yes
Profitability for last three years	No
Reasons for Variation <> 20%`	--
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concern	Yes
Major Suppliers	Yes
Major Customers	No
Payment Terms	Yes
Export/ Import Details (If applicable)	Yes
Market Information	--
Litigations that the firm/ Promoter involved in	--
Banking Details	Yes
Banking Facility details	--
Conduct of the banking account	--
Buyer visit details	--
Financials, fi provided	Yes
Incorporation details, if applicable	--
Last accounts filed at ROC	--
Major Shareholders , if available	--

Trade References:

· ITC

Financial Results:

The production of matches in the manufacturing units of the company has decreased to 3751978 units from 3761273 units produced in the previous year. The purchase of matches has increased to 4525361 units from 3040812 units purchased during the previous year. The quantum of sale during the year has also increased to 8425002 units as against 6854271 units sold in the previous year.

As the company had to face the cut-throat competition from the match companies resorting to direct marketing of their products through undertaking techniques, the company had to offer rebates to customers to withstand the fierce competition and to retain its share in the matches market. Inspire the strenuous effects taken by the directors, a sizable erosion of the market share of the company could not be avoided. Concerted efforts of cost control are being taken by the Directors for improving the profitability of the operations of the company.

The operations of the company during the year have resulted in a Net Profit Rs. 2.372 Millions as against the Net Profit of Rs. 0.065 Million for the last year.

Bankers Charges Report as per Registry

Corporate identity number of the company	U24291TN1971PTC005975
Name of the company	ASIA MATCH COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	17-A, Boopathy Buildings, Virudhunagar Road, Sivakasi-626123, Tamil Nadu, India
This form is for	Modification of Charge
Charge identification (ID) number of the charge to be modified	90286946
Type of charge	Immovable Property
Particular of charge holder	Indian Overseas Bank, Madurai Main Branch, 127, East Veli Street, Madurai-625001, Tamilnadu, India
Nature of instrument creating charge	Confirmation Letter Evidencing Creation of Supplemental Mortgage F 379 C Dated 23.07.2011
Date of instrument Creating the charge	23.07.2011
Amount secured by the charge	Rs. 600.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit : BPLR – 1.00% (Presently 12.25% p.a.) Terms of Repayment Cash Credit : On Demand Letter of Credit: On Respective Due Dates of LC Margin Cash Credit: On Stocks 25%, on Book Debts 30% Letter of Credit: 10% Extent and Operation of the charge Extension of Equitable mortgage of the company’s land to an extent of 7.48 Acres situated at survey no. 265, 269, 270 and 271, T.S. No. 44, 45, 46 and 47 ward F Block No. 3 Villampatti Road, Sivakasi Town, Sivakasi Taluk, Virudhunagar District, As Security for the revised credit facility of Rs. 600.000 Millions sanctioned by the Indian Overseas Bank, Madurai Branch to the Group Concern Pioneer Wincon Private Limited.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Land to an extent of 7.48 Acres situated at Survey No. 265, 269, 270 and 271, T.S. No. 44, 45, 46 and 47 Ward F Block No. 3, Villampatti Road, Sivakasi Town, Sivakasi Taluk, Virudhnagar District.
Date of instrument modifying the charge	06.12.2010
Particulars of the present modification	Extension of Equitable Mortgage of Land to an extent of 7.48 Acres at Ward F Block No. 3, Vilampatti Road, Sivakasi Taluk, Virudhnagar District, for revised limit of Rs. 600.000 Millions comprising 1. Cash Credit Limit of Rs. 200.000 Millions 2. Letter of Credit Rs. 100.000 Millions with permission for full interchangeability from LC to CC (H) upto Rs. 100.000 Millions 3. Letter of Credit Rs. 200.000 Millions 4. Additional L/C Rs. 100.000 Millions Total Limit Rs. 600.000 Millions sanctioned by Indian Overseas Bank to Pioneer Wincon Private Limited.

This form is for	Modification of charge
Charge identification number of the modified	90295474
Corporate identity number of the company	U24291TN1971PTC005975
Name of the company	ASIA MATCH COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	17-A, Boopathy Buildings, Virudhunagar Road, Sivakasi-626123, Tamil Nadu, India
Type of charge	Immovable Property
Particular of charge holder	Indian Overseas Bank, Geethalaya Buildings, Chairman Shunmuga Nadar Road, Sivakasi-626123, Tamil Nadu, India
Nature of description of the instrument creating or modifying the charge	Letter of Deposit of title deeds of vacant to the extent of 19 cents belonging to the company situated at S.No. 239/1H, in old patta No. 732 of Tallakulam Revenue Village, Madurai
Date of instrument Creating the charge	06.02.2009
Amount secured by the charge	Rs. 55.403 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest R.O.I = 13% Terms of Repayment Term Loan is repayable in 60 monthly installments Working Capital loan is repayable on demand Margin 25% Extent and Operation of the charge The property is mortgaged to the Indian Overseas Bank, Sivakasi as collateral security The company has also extended corporate guarantee to the above said bank, against the loans sanctioned by the said to M/s Arunsankar Match Industries Private Limited, Sivakasi a sister concern of the company.
Short particulars of the property charged	Vacant land to the extent of 19 cents belonging to the company situated at S.No. 239/1H, in old patta No. 732 of Tallakulam Revenue Village, Madurai, as described in Form 379C attached hereto.
Date of latest modification prior to the present modification	19.02.2008

Name of the company	ASIA MATCH COMPANY PRIVATE LIMITED
Presented By	S Annamalai, Director, and the Chief Manager, Indian Overseas Bank, Madurai Main Branch, Madurai
1) Date and description of instrument creating the change	Deposit of title deeds letter dated 23.08.2004
2) Amount secured by the charge/amount owing on the securities of charge	Foreign Letter of Credit limit Rs. 120.000 Millions Cash Credit Limit Rs. 40.000 Millions Granted to Pioneer Asia Industries Private Limited, Division : Pioneer Asisa Wind Turbines
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Properties situated at T.S. No. 44, 45, 46 and 47 ward F Block No. 3, Villampattti Road, Sivakasi.
4) Gist of the terms and conditions and extent and operation of the charge.	Limit : Foreign Letter of Credit Rs. 120.000 Millions Cash Credit Rs. 40.000 Millions
5) Name and Address and description of the person entitled to the charge.	Indian Overseas Bank, Madurai Main Branch, 135, Palace Road, Madurai-625001, Tamil Nadu, India
6) Date and brief description of instrument modifying the charge	Confirmation Letter evidencing creation of Supplemental Mortgage deed dated 01.12.2005
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Enhanced Credit Limits sanctioned to Pioneer Asis Industries Private Limited,Division : Pioneer Asia Wind Turbines Letter of Credit Limit enhanced from Rs. 210.000 Millions to Rs. 270.000 Millions Cash Credit Limit enhanced form Rs. 40.000 Millions to Rs. 100.000 Millions

AS PER WEBSITE

Profile:

Incepted in 1945, they are one of the recognized manufacturers and exporters of safety match sticks, wax match sticks and safety match machinery. Under the able guidance and leadership of the founders, Shri K.A.A. Sankaralingam and Shri K.A.A. Arunachalam, they have marked an impressive and tremendous progress traditional business and various industrial activities.

Widening the horizon and utilizing the resources in the best manner, they have promoted the business activities to Sri Lanka, where in they have started a joint venture of manufacturing wax match sticks.

Boasting up of advanced production facilities capable of manufacturing bulk product in a short turn-around time, they have been able to meet the increasing demands of the clients with in a stipulated time frame.

The workforce forms an integral part of the organization and works diligently towards the growth of the company, by delivering a wide assortment of qualitative match boxes.

They have a sister concern M/S Tenzing Match Works which is the only ISO 9001 accredited manufacturer in the industry.

Product Profile:

Procuring superior quality raw material such as potassium chlorate, red phosphorous, glue, black manganese and sulphur from reliable vendors in the country, they have been able to deliver a flawless range of match sticks and related machineries. They manufactures and exports

· Safety Match Machinery

· Safety Match Sticks

· Wax Match Sticks

· Colored Match Sticks

· Book Match Sticks

Used in different commercial and domestic purposes, the range of match sticks and match boxes are known to possess following features:

· Easy to hold

· No smoldering even after burning

· Durable

· Long burning time

· Smooth and steady rate

· One time ignition

· Varying size and length

· Attractive and colorful packing

Moreover, they have the ability to get the range customized from the sources on the parameters of length, material of striking surface and packaging of the match box and sticks.

Infrastructure:

They are well supported by an advanced infrastructural set up which is the greatest asset and helps them in facilitating the manufacturing process smoothly. The industry is mainly depended on labor work as it involves lot of hand work along with application of tools and machinery. Thus, they have a manufacturing unit spread in total plot area of 4500 sq. feet together with an installation capacity of 450 units that justifies a production capacity of 6 million safety match stick boxes a day. The manufacturing unit is equipped with Swedish Match 'ARENCO' machineries and includes:

· Wax frame filling

· Chemical dipping

· Frame drying

· Box filling

· Carton packing

· Wire drawing

· Frame filling

· Outer/inner pasting machine

· Packing machine and

· Shrinking machine

These safety match machineries are well handled by the experts and are regularly upgraded and oiled for smooth production process and help them in achieving production capacity of 6 million match boxes per day.

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.49.18
UK Pound	1	Rs.77.49
Euro	1	Rs.67.96

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.