MIRA INFORM REPORT

Report Date :

20.10.2011

IDENTIFICATION DETAILS

Name :	JOHN BEAN TECHNOLOGIES INDIA PRIVATE LIMITED
Registered Office :	2, Bhuvanseshwar Housing Society, Pashan Road, Pune – 411 008, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.02.2009
Com. Reg. No.:	11-133496
Capital Investment / Paid-up Capital :	Rs.0.600 Million
CIN No.: [Company Identification No.]	U29299PN2009PTC133496
TAN No.: [Tax Deduction & Collection Account No.]	PNEJ07031D
PAN No.: [Permanent Account No.]	AACCJ1393E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Food Processing Machinery
No. of Employees :	19 (Approximately) ( 9 In Office + 10 In Factory)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 16000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a relatively new company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

INFORMATION DECLINED BY

Name :	Mr. Subramanian
Designation :	General Manager in Finance
Date :	19.10.2011

LOCATIONS

Registered Office :	2, Bhuvanseshwar Housing Society, Pashan Road, Pune – 411 008, Maharashtra, India
Tel. No.:	91-20-66867100
Fax No.:	91-20-25893701
E-Mail :	uday.sant@jbtc.com
Location :	Leased
Factory :	Plot No. 231, Sector 7, Pune – 411008, Maharashtra, India
Location :	Leased

DIRECTORS

As on 22.09.2010

Name :

Mr. Uday Prabhakar Sant

Designation :

Director

Address :

SN. 46/1/3 and 46/1/2 NIBM Road Cloud – 9 Kondhwa KD, Pune – 411 048, Maharashtra, India

Date of Birth/Age :

22.11.1964

Date of Appointment :

11.02.2009

DIN No.:

02459686

Name :

Mr. Ajit Yashwant Brahma

Designation :

Director

Address :

C/O D. G. Chatufale – 301, Kanchan Gauri Apartments, 115/1-B Shivtirth Nagar, Paud Road, Kothrud, Pune – 411 038, Maharashtra, India

Date of Birth/Age :

06.09.1967

Date of Appointment :

11.02.2009

DIN No.:

01473520

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	U15203MH1998PTC114678	Alven Foodpro Systems Private Limited	Director	16-06-98	16-06-98	Strike off	NO
2	U29299PN2009PTC133496	John Bean Technologies India Private Limited	Director	11-02-09	11-02-09	Active	NO

KEY EXECUTIVES

Name :	Mr. Subramanian
Designation :	General Manager in Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.09.2010

Names of Shareholders	No. of Shares
John Bean Technologies Corporation, USA	5000
John Bean Technologies Pte. Limited, Singapore	1000
Total	6000

List of Allotment (As on 23.10.2010)

Names of Allottees	No. of Shares
John Bean Technologies Corporation, USA	42065
Total	42065

As on 22.09.2010

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]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Food Processing Machinery

GENERAL INFORMATION

Customers :	· K F P Products · Kadar Export (Private) Limited
No. of Employees :	19 (Approximately) ( 9 In Office + 10 In Factory)
Bankers :	· Hongkong and Shanghai Banking Corporation · Industrial Development Bank of India – Aundh Branch, Pune, Maharashtra, India · HSBC Bank – S.V Road Branch, Pune, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Atul Joshi and Company Chartered Accountants
Address :	101, Saikrupa Apartment, Edulji Road, Thane – 400 601, Maharashtra, India
Tel No.:	91-22-25362096
Mobile No.:	91-9820027328
Associates :	· John Bean Technologies Hongkong Limited · John Bean Technologies – Aerotech · John Bean Technologies SPA – Parma

CAPITAL STRUCTURE

After 22.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
48065	Equity Shares	Rs.100/- each	Rs.4.807 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares of John Bean Technologies Corporation, USA	Rs.100/- each	Rs.0.500 Million
1000	Equity Shares of John Bean Technologies Pte. Limited, Singapore	Rs.100/- each	Rs.0.100 Million
	Total		Rs.0.600 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.600
2] Share Application Money		0.000
3] Reserves & Surplus		3.496
4] (Accumulated Losses)		0.000
NETWORTH		4.096
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		4.096
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.397
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		1.665
DEPOSITS		0.500
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.205
	Sundry Debtors	8.308
	Cash & Bank Balances	3.633
	Other Current Assets	0.000
	Loans & Advances	4.560
Total Current Assets		16.706
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.412
	Other Current Liabilities	1.338
	Provisions	10.526
Total Current Liabilities		18.276
Net Current Assets		(1.570)
MISCELLANEOUS EXPENSES		0.104
TOTAL		4.096

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010
	SALES
		Sales	69.624
		Other Operating Income	0.683
		TOTAL (A)	70.307
Less	EXPENSES
		Cost of Goods Manufactured	51.332
		Employees Emoluments	3.112
		Administrative and Office Expenses	3.649
		Selling and Distribution Expenses	6.687
		Miscellaneous Expenses Write Off	0.026
		TOTAL (B)	64.806
Less	PROFIT/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.501
Less	BANK CHARGES AND INTEREST (D)		0.055
	PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.446
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.146
	PROFIT/LOSS BEFORE TAX (E-F) (G)		5.300
Less	TAX (H)		1.804
	PROFIT/LOSS AFTER TAX (G-H) (I)		3.496
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		3.496
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	38.092
		Reimbursement of Expenses	0.945
	TOTAL EARNINGS		39.037
	IMPORTS
		Raw Materials	3.175
		Total	3.175
	Earnings Per Share (Rs.)		582.61

KEY RATIOS

PARTICULARS		31.03.2010
PAT / Total Income	(%)	4.97
Net Profit Margin (PBT/Sales)	(%)	7.61
Return on Total Assets (PBT/Total Assets}	(%)	26.36
Return on Investment (ROI) (PBT/Networth)		1.29
Debt Equity Ratio (Total Liability/Networth)		4.46
Current Ratio (Current Asset/Current Liability)		0.91

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

Particulars	As on 31.03.2010 Rs. in millions
Sundry Creditors for Purchases	4.945
Sundry Creditors for Services / Expenses	1.467
Total	6.412

NOTE

The Registered Office of the company has been shifted from SN. 46/1/3 and 46/1/2 NIBM Road Cloud – 9 Kondhwa KD, Pune – 411 048, Maharashtra, India to the present w.e.f. 01.05.2009.

OPERATION AND GROWTH OF THE COMPANY

The company has been involved in any type of work during the previous year.

NATURE OF OPERATION

The Company is a manufacturer, and trader of Food Processing Machines for domestic and export markets. The company has prepared the books of accounts for period starting from 9^th Feb 2009 to 31^st March, 2010.

FIXED ASSETS

· Cars

· Computers

· Furniture and Fittings

· Leasehold Improvements

· Mobile Handsetsy

· Office Equipments

· Plant and Machinery

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.49.17
UK Pound	1	Rs.77.49
Euro	1	Rs.67.96

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		42

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.