MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	RADIANT CORPORATION PRIVATE LIMITED (w.e.f. 25.07.2006)
Formerly Known As :	RADIANT CABLES PRIVATE LIMITED
Registered Office :	B-1, Industrial Estate, Sanathnagar, Hyderabad - 500018, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.10.1976
Com. Reg. No.:	01-002083
Capital Investment / Paid-up Capital :	Rs.80.000 millions
CIN No.: [Company Identification No.]	U31300AP1976PTC002083
TAN No.: [Tax Deduction & Collection Account No.]	HYDR00004E
PAN No.: [Permanent Account No.]	AABCR0719B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Special Electric and Electronic Equipment, Wires and Cables, Cable Systems, Control Systems and Components
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 3466468
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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 – 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 :	B-1, Industrial Estate, Sanathnagar, Hyderabad - 500018, Andhra Pradesh, India
Tel. No.:	91-40-23704470 / 71 / 73
Fax No.:	91-40-23703421 / 23704472
E-Mail :	mds@radiantcorpn.com cables@radiantcorpn.com
Website :	http://www.radiantcorpn.com

DIRECTORS

AS ON 29.09.2011

Name :	Mr. Ashok Kundalia
Designation :	Managing Director
Address :	Flat No.B-101, Pasha Court, Punjagutta, Hyderabad – 500082, Andhra Pradesh, India
Date of Birth/Age :	24.09.1956
Date of Appointment :	27.05.2007
DIN :	00260377
Name :	Mr. Rajendra Kumar Duggar
Designation :	Director
Address :	Flat 12C 13 D Khan Road, Alipore, Kolkata – 700027, West Bengal, India
Date of Birth/Age :	26.11.1950
Date of Appointment :	24.07.1997
DIN :	00403512
Name :	Mrs. Preeti Ashok Kundalia
Designation :	Whole-time Director
Address :	Flat No.B-101, Pasha Court, Punjagutta, Hyderabad – 500082, Andhra Pradesh, India
Date of Birth/Age :	08.03.1958
Date of Appointment :	14.08.2009
DIN :	00464922
Name :	Mr. Satish Sadashiv Godboe
Designation :	Director
Address :	40/2, Paranjpe Bungalow, Near Dashbhuja Ganpati Karve Road, Erandwana, Pune – 411038, India
Date of Birth/Age :	03.06.1947
Date of Appointment :	06.02.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2011

Names of Shareholders	No. of Shares
Mr. Ashok Kundalia	23000
Mrs. Preeti Ashok Kundalia	23200
Sambhav Ashok Kundalia	16900
Ravi Ashok Kundalia	16900
Total	80000

AS ON 29.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Special Electric and Electronic Equipment, Wires and Cables, Cable Systems, Control Systems and Components

Products :

Product Description	Item Code
Electric and Electronics Wires and Cables	85441190
Compound	39019010
Conductor	74130000
Parts of Railways Locomotives Rolling Stock	86072090

PRODUCTION STATUS AS ON (31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Compounds and Conductor	M.T.	--	970.37
Wires and Cables (Core KM)	MT	--	3792.86
Wt. of Aluminum (MT/Shift/Year)		787.80	--
Wt. of Copper (MT/Shift/Year)		617.80	--
Compound (MT/Shift/Year)		600.00	--

GENERAL INFORMATION

Bankers :

State Bank of Hyderabad, Industrial Estate, Sanathnagar, Hyderabad – 500018, Andhra Pradesh, India

Facilities :

Unsecured loan	31.03.2011 Rs. in million	31.03.2010 Rs. in million
Term Loans from Bank	7.501	0.000
Working Capital Loans from Bank	0.000	6.423
Total	7.501	6.423

Banking Relations :	--
Auditors :
Name :	Dagliya and Company Chartered Accountant
Address :	2^nd Floor, Sriniwasa Building, Ranigunj, Secunderabad – 500003, Andhra Pradesh, India
Tel. No.:	91-40-27713308 / 27712769
Fax No.:	91-40-27713488
E-Mail :	dagliya@gmail.com
PAN No.:	AAAFD6954E
Subsidiary:	Radiant Coral Digital Technologies (P) Limited
Associates :	Astha Laboratories Private Limited Astha Corporation Private Limited Astha Power Corporation Private Limited Radiant RSCC Specialty Cable Private Limited Astha Crane Private Limited

CAPITAL STRUCTURE

AS ON 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
80,000	Equity Shares	Rs.1000/-each	Rs.80.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
80,000	Equity Shares	Rs.1000/-each	Rs.80.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		80.000	80.000	80.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		786.617	647.834	493.246
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		866.617	727.834	573.246
LOAN FUNDS
1] Secured Loans		7.501	6.423	94.381
2] Unsecured Loans		0.000	0.000	243.988
TOTAL BORROWING		7.501	6.423	338.369
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		874.118	734.257	911.615
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		143.433	113.421	192.115
Capital work-in-progress		109.699	35.962	18.389
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		67.066	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	236.860	119.150	174.047
	Sundry Debtors	121.497	153.997	433.859
	Cash & Bank Balances	153.557	7.189	12.875
	Other Current Assets	83.789	77.450	0.000
	Loans & Advances	139.222	243.165	106.934
Total Current Assets		734.925	600.951	727.715
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.632	0.534
	Other Liabilities	161.805	7.678	23.704
	Provisions	12.568	7.865	2.900
Total Current Liabilities		181.005	16.077	26.604
Net Current Assets		553.920	584.874	701.111
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		874.118	734.257	911.615

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	NA	769.880	1290.503
		Other Income			0.489
		TOTAL (A)	NA	769.880	1290.992
Less	EXPENSES
		Raw Material Consumed			719.776
		Manufacturing Expenses			18.497
		Salaries, wages to employees			67.758
		Duties and taxes	NA	480.773	49.028
		Other Expenses			20.694
		Increase / decrease in stocks			(7.026)
		Misc. Expenses			0.026
		TOTAL (B)	NA	480.773	868.753
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		202.792	289.107	422.239
Less	FINANCIAL EXPENSES (D)		4.790	13.023	76.522
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		198.002	276.084	345.717
Less/ Add	DEPRECIATION/ AMORTISATION (F)		18.219	19.145	29.167
	PROFIT BEFORE TAX (E-F) (G)		179.783	256.939	316.550
Less	TAX (I)		41.000	63.482	95.486
	PROFIT AFTER TAX (G-I) (J)		138.783	193.457	221.064
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		630.648	437.191	238.627
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	22.500
		Interim Dividend	0.000	0.000	0.000
		Tax on Dividend	0.000	0.000	0.000
	BALANCE CARRIED TO THE B/S		769.431	630.648	437.191
	EARNINGS IN FOREIGN CURRENCY
		Deemed Export	NA	99.873	282.521
	TOTAL EARNINGS		NA	99.873	282.521
	IMPORTS
		Raw Materials	NA	204.402	300.252
	TOTAL IMPORTS		NA	204.402	300.252
	Earnings Per Share (Rs.)		1734.78	2418.00	2763.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	25.13	17.12
Net Profit Margin (PBT/Sales)	(%)	NA	NA	24.53
Return on Total Assets (PBT/Total Assets}	(%)	20.46	35.97	34.41
Return on Investment (ROI) (PBT/Networth)		0.21	0.35	0.55
Debt Equity Ratio (Total Liability/Networth)		0.21	0.03	0.64
Current Ratio (Current Asset/Current Liability)		4.06	37.37	27.35

LOCAL AGENCY FURTHER INFORMATION

Note : Registered office address of the company has been shifted from B-2, Industrial Estate, Sanathnagar, Hyderabad - 500018, Andhra Pradesh, India to the present address w.e.f. 23.03.2009

FIXED ASSETS :

• Land
• Building
• Plant and Machinery
• Testing Equipments and Auxiliaries
• Electrical Equipments and Auxiliaries
• Furniture and Fixtures
• Computers
• Vehicles

Bankers Charges Report as per Registry

Corporate identity number of the company	U31300AP1976PTC002083
Name of the company	RADIANT CORPORATION PRIVATE LIMITED (w.e.f. 25.07.2006)
Address of the registered office or of the principal place of business in India of the company	B-1, Industrial Estate, Sanathnagar, Hyderabad - 500018, Andhra Pradesh, India
This form is for	Creation of charge
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge Others
Particular of charge holder	State Bank of Hyderabad, Industrial Estate, Sanathnagar, Hyderabad – 500018, Andhra Pradesh, India Email: sanathnagar@sbhyd.co.in
Nature of instrument creating charge	Working Capital limits are increased from Rs.234.5 millions to Rs.339.5 millions. as per the following documents. 1) Sanction Letter No. F-13/Cr/Gr-I/633, Dt. 09.03.2011 2) Agreement of Loan For Overall Limit, Dt. 20.04.211 3) Agreement of Hypothecation of Goods and Assets Dt. 20.04.11 4) Deed of Guarantee for Overall Limit, Dt.20.04.11 5) Letter regarding the grant of individual limits within the overall limit Dt.20.04.11 6) Memorandum of Deposit of Title Deeds Dt.20.04.11 7) Board Resolution Dt.15.03.11
Date of instrument Creating the charge	20.04.2011
Amount secured by the charge	Rs. 339.500 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Cash Credit - SBH BR + 3.00% (floating) p.a. Terms of repayment Repayable on demand. Margin Funded Limits : 25% to 40%. Non-Funded Limits : 5% (as detailed in the Sanction / Agreement letter dated 09.03.2011) Extent and operation of the charge (1) Working Capital Limits: Rs.339.5 millions (FB:Rs.9.500 millions, NFB: Rs.330.000 millions) a. First Charge on all present and future Current Assets of the Company. b. Extension of First Charge on all present and future Fixed Assets (excl. land and Building) of the Company. c. Equitable Mortgage of Land and Buildings
Short particulars of the property charged (Including location of the property)	First Charge on all present and future Current Assets of the Company. Extension of First Charge on all present and future Fixed Assets (excl. land & Building) of the Company. Equitable Mortgage of Land and Building situated at B-1 and 2, and B-6, Industrial Estate, Sanathnagar, Hyderabad - 500 018, standing in the name of the company. Equitable Mortgage of Land and Building situated at B-4, Industrial Estate, Sanathnagar, Hyderabad - 500 018, standing in the name of the Astha Laboratories Private Limited Corporate Guarantee of M/s. Astha Laboratories Private Limited

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.51.04
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--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		54

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.