MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED
Registered Office :	Mills Premises, Mallanginar, Kariapatti (T.K.), Virudhunagar – 626109, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.07.1962
Com. Reg. No.:	18-004842
Capital Investment / Paid-up Capital :	Rs.57.500 Millions
CIN No.: [Company Identification No.]	U17111TN1962PLC004842
TAN No.: [Tax Deduction & Collection Account No.]	MRIS01847G
PAN No.: [Permanent Account No.]	AADCS8768B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is mainly engaged in textiles.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 800000
Status :	Satisfactory
Payment Behaviour :	Usually correct
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

LOCATIONS

Registered Office/ Factory 1 :	Mills Premises, Mallanginar, Kariapatti (T.K.), Virudhunagar – 626109, Tamilnadu, India
Tel. No.:	91-4566-304100
Fax No.:	91-4566-288212
E-Mail :	ayyanar@pioneerasia.com mail@ayyanar.com
Website :	www.ayyanar.com
Factory 2 :	Illupaikulam, Madurai District, Tamilnadu, India

DIRECTORS

As on 26.08.2011

Name :

Mr. Sankaralingam Annamalai

Designation :

Director

Address :

239/2, New Natham Road, Narayanapuram, Madurai – 625014, Tamilnadu, India

Date of Birth/Age :

26.01.1947

Date of Appointment :

21.09.2005

DIN No.:

00001381

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	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	2/08/1976	2/08/1976	-	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	9/02/1984	9/02/1984	-	Active	NO
6	U36911TN1987PLC014168	MEPCO INDUSTRIES LIMITED	Director	22/12/2006	25/03/1987	-	Active	NO
7	U20296TN1992PLC061574	PIONEER MARINE PRODUCTS LTD	Director	2/09/1992	2/09/1992	-	Active	NO
8	U51909TN1993PTC061576	PIONEER OVERSEAS PVT LTD	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	2/11/2006	2/11/2006	-	Active	NO

Name :

Mr. Maheswaran Sankaralingam

Designation :

Director

Address :

174 A/1, Gnangiri Road, Sivakasi, Tamilnadu, India

Date of Birth/Age :

07.09.1948

Date of Appointment :

07.08.2006

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	2/08/1976	2/08/1976	-	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	NO
6	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	-	Active	NO
7	U65993TN1984PTC010638	PRADEEP SANKAR ENTERPRISES PRIVATE LIMITED	Director	9/02/1984	9/02/1984	-	Active	NO
8	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	-	Active	NO
9	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	4/12/1987	4/12/1987	-	Active	NO
10	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	-	Active	NO
11	U20296TN1992PLC061574	PIONEER MARINE PRODUCTS LTD	Director	2/09/1992	2/09/1992	-	Active	NO
12	U51909TN1993PTC061576	PIONEER OVERSEAS PVT LTD	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	7/08/2006	7/08/2006	-	Active	NO
22	U31103TN1995PTC074436	TAMARAI 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

Name :

Mr. Arunachalam Tenzing

Designation :

Director

Address :

“Pioneer House”, 174-A, Gnangiri Road, Sivakasi, Tamilnadu, India

Date of Birth/Age :

17.06.1953

Date of Appointment :

07.08.2006

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	2/08/1976	2/08/1976	-	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	9/02/1984	9/02/1984	-	Active	NO
7	U27203TN1983PLC009916	ALUMINIUM POWDER COMPANY LIMITED	Director	1/08/1984	1/08/1984	-	Active	NO
8	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	-	Active	NO
9	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	4/12/1987	4/12/1987	-	Active	NO
10	U24292TN1990PTC019468	RAJARATNAM FIREWORKS PRIVATE LIMITED	Director	1/08/1990	1/08/1990	-	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	U20296TN1992PLC061574	PIONEER MARINE PRODUCTS LTD	Director	2/09/1992	2/09/1992	-	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	7/08/2006	7/08/2006	-	Active	NO
23	U22211TN2006PTC059398	VISALAKSHI ENTERPRISES PRIVATE LIMITED	Director	6/06/2007	6/06/2007	-	Active	NO

Name :

Mr. Ashok Sankaralingam

Designation :

Managing Director

Address :

Boopathy Buildings, Post Box 222, Sivakasi, Tamilnadu, India

Date of Birth/Age :

25.03.1954

Date of Appointment :

21.03.2005

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	2/08/1976	2/08/1976	31/12/2011	Active	NO
2	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	20/08/1982	20/08/1982	31/12/2011	Active	NO
3	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	22/08/1982	22/08/1982	31/12/2011	Active	NO
4	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	31/12/2011	Active	NO
5	U65993TN1984PTC010653	BOOPATHY INVESTMENTS PRIVATE LIMITED	Director	16/02/1984	16/02/1984	31/12/2011	Active	NO
6	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	24/09/1987	24/09/1987	31/12/2011	Active	NO
7	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	4/12/1987	4/12/1987	31/12/2011	Active	NO
8	U24292TN1990PTC019468	RAJARATNAM FIREWORKS PRIVATE LIMITED	Director	1/08/1990	1/08/1990	-	Active	NO
9	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	31/12/2011	Active	NO
10	U20296TN1992PLC061574	PIONEER MARINE PRODUCTS LIMITED	Director	2/09/1992	2/09/1992	31/12/2011	Active	NO
11	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	31/12/2011	Active	NO
12	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	31/12/2011	Active	NO
13	U40101TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	31/12/2011	Active	NO
14	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	31/12/2011	Active	NO
15	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	31/12/2011	Active	NO
16	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	31/12/2011	Active	NO
17	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Managing director	10/04/2010	21/03/2005	31/12/2011	Active	NO
18	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	31/12/2011	Active	NO
19	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Director	22/08/2005	22/08/2005	-	Active	NO
20	U31103TN1995PTC074436	TAMARAI HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	31/12/2011	Active	NO
21	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	31/12/2011	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	31/12/2011	Active	NO
24	U24291TN2008PTC068179	SOLOPIONEER MATCH PRIVATE LIMITED	Director	12/06/2008	12/06/2008	31/12/2011	Active	NO
25	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	31/12/2011	Active	NO
26	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	31/12/2011	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	31/12/2011	Active	NO
29	U74900TN2011PTC083146	PIONEER FIREWORKS PRIVATE LIMITED	Director	15/11/2011	15/11/2011	31/12/2011	Active	NO
30	U74999TN2011PTC083215	RHINO FIREWORKS PRIVATE LIMITED	Director	21/11/2011	21/11/2011	31/12/2011	Active	NO
31	U74900TN2011PTC083535	TAMARAI FIREWORKS PRIVATE LIMITED	Director	12/12/2011	12/12/2011	31/12/2011	Active	NO

Name :

Mrs. Tiruselvi Tenzing

Designation :

Director

Address :

“Pioneer House”, 174-A, Gnangiri Road, Sivakasi, Tamilnadu, India

Date of Birth/Age :

16.10.1959

Date of Appointment :

21.09.2005

DIN No.:

00143552

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	U65993TN1984PTC010639	ARUNSANKAR ENTERPRISES PRIVATE LIMITED	Director	9/02/1984	9/02/1984	-	Active	NO
2	U24291TN1999PTC041999	ARUNSANKAR MATCH INDUSTRIES PRIVATE LIMITED	Director	3/03/1999	3/03/1999	-	Active	NO
3	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
4	U22211TN2006PTC059398	VISALAKSHI ENTERPRISES PRIVATE LIMITED	Director	6/06/2007	6/06/2007	-	Active	NO

Name :

Mr. Rajakkani Nadar Chokkar

Designation :

Director

Address :

4-A, Kasturibai Road, Virudhunagar, Tamilnadu, India

Date of Birth/Age :

12.11.1948

Date of Appointment :

11.09.2004

DIN No.:

01468428

Name :

Mr. Ganapathy Natarajasubramanian

Designation :

Director

Address :

13-A/I. Meenakshipuram West, Pillaiyar Koli Street, Tuticorin-2

Date of Birth/Age :

02.03.1956

Date of Appointment :

11.09.2004

DIN No.:

00209373

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	U92132TN1978PTC007482	SHANMUGAR SALTERNS PRIVATE LIMITED	Managing director	31/03/1978	31/03/1978	-	Active	NO
2	U14220TN1970PTC005935	SAHAYAMATHA SALTERNS PRIVATE LIMITED	Director	16/06/1980	16/06/1980	-	Active	NO
3	U24117TN1989PTC017674	SOUTH INDIA BROMINE AND ALLIED CHEMICALS PRIVATE LIMITED	Director	10/07/1989	10/07/1989	-	Active	NO
4	U17111TN1990PTC020078	K.S.P.S. TEXTILES PRIVATE LIMITED	Director	26/12/1990	26/12/1990	-	Active	NO
5	U24294TN1994PTC028030	SAHAYAMATHA SALT REFINERY Private LIMITED	Director	11/07/1994	11/07/1994	-	Active	NO
6	U14220TN1997PTC037922	SAHAYAMATHA INTERNATIONAL PRIVATE LIMITED	Director	7/04/1997	7/04/1997	-	Active	NO
7	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	11/09/2004	11/09/2004	-	Active	NO
8	U24119TN2005PTC056070	AMRITA CHEMICALS (INDIA) PRIVATE LIMITED	Director	20/02/2006	25/04/2005	-	Active	NO

Name :

Mr. Krishnamoorthy Sathiavan

Designation :

Director

Address :

Anugraham, 8-7/1 (Old No.41A), Vaigainath Street, Mahatma Gandhi Nagar, Krishnapuram Colony Extension, Madurai – 625014, Tamilnadu, India

Date of Birth/Age :

06.05.1946

Date of Appointment :

08.09.2003

DIN No.:

00001378

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	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	8/09/2003	8/09/2003	-	Active	NO
2	U51900TN2009PTC073066	SHINING STAR AGENCIES PRIVATE LIMITED	Director	1/10/2009	1/10/2009	-	Active	NO

Name :

Mr. Balakrishnan Prabaharan

Designation :

Whole-Time Director

Address :

4/3-A, Kasturibai Road, Virudhunagar, Tamilnadu, India

Date of Birth/Age :

08.07.1955

Date of Appointment :

21.09.2005

DIN No.:

00209875

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	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Whole-time director	11/12/2011	21/09/2005	-	Active	NO
2	U65110TN1921PLC001908	TAMILNAD MERCANTILE BANK LIMITED	Additional director	16/04/2011	26/11/2009	-	Active	NO

Name :

Mr. Niranjan Sankar Annamalai

Designation :

Whole-Time Director

Address :

239/2, New Natham Road, Narayanapuram, Madurai – 625014, Tamilnadu, India

Date of Birth/Age :

03.05.1974

Date of Appointment :

22.05.2006

DIN No.:

00084014

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	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	-	Active	NO
2	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	-	Active	NO
3	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
4	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Whole-time director	29/06/2010	22/05/2006	-	Active	NO
5	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	7/09/2007	7/09/2007	-	Active	NO
6	U40101TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	25/09/2010	3/02/2010	-	Active	NO
7	U31103TN1995PTC074436	TAMARAI HOMES PRIVATE LIMITED	Additional director	27/01/2012	27/01/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. T S Jwala
Designation :	Secretary
Address :	985, Periyar Street, Thasildhar Nagar, Madurai – 625020, Tamilnadu, India
Date of Birth/Age :	02.04.1978
Date of Appointment :	01.10.2009
	AHEPJ6456G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.08.2011

Names of Shareholders	No. of Shares
S Annamalai	3573
T Arunsankar	115109
Arunsankar Enterprises Private Limited, India	2043332
S Ashok	4803
Boopathy Investments Private Limited, India	1113452
G Natarajasubramanian	6000
Niranjan Sankar Enterprises Private Limited, India	1114429
Pradeep Sankar Enterprises Private Limited, India	1119311
A Tenzing	67888
Yennarkay R Ravindran	28000
T Tiruselvi	15329
M Vairavel	12545

Equity Share Break up (Percentage of Total Equity)

As on 26.08.2011

Category	Percentage
Bodies corporate	94.00
Directors or relatives of Directors	4.00
Other top fifty shareholders	2.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is mainly engaged in textiles.

Products :

PRODUCT DESCRIPTION	ITC CODE NO.
Cotton Yarn	5205
Cotton Polyster Yarn	5206
Polyster Cotton Yarn	5509

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Installed Capacity
Spindles	Nos	58,048
Rotors	Nos	576

Particulars	Actual Production
Yarn (Own)	40,59,326
Yarn (On Others Account)	3,81,942

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Indian Bank

· Indian Overseas Bank

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	209.061	239.292
Working capital loans banks secured	171.803	100.668
Total	380.864	339.960
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Partly convertible debentures unsecured	41.000	82.000
Fixed deposits unsecured	32.986	18.698
Deposits related parties unsecured	3.950	4.150
Other debt unsecured	51.190	28.326
Total	129.126	133.174

Banking Relations :	--
Auditors :
Name :	Suri and Company Chartered Accountants
Address :	9 Lakshmi Road , TVS Nagar, Madurai, Tamilnadu, India
PAN.:	AABFS5023Q
Associates (As on 31.03.2010) :	· Amman Match Company · Amman Match Works · AMTI Tech Park · Arunsankar Enterprises Private Limited · Arunsankar Inks and Chemicals Private Limited · Asia Match company Private Limited · Boopathy Investments Private Limited · Chokkar Polybags · Meena Match Industries · Meenasankar Enterprises · Niranjan Sankar Enterprises Private Limited · Para Enterprises Private Limited · Pioneer Asia Industries Private Limited · Pioneer Asia Wind Turbines · Pioneer Financial Services · Pioneer Jellice India Private Limited · Pioneer NF forgings India Private Limited · Pioneer Overseas Private limited · Pioneer Press Private Limited · Pioneer Wincon Private Limited · Pradeepsankar Enterprises Private Limited · Precision Homes Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5800000	Equity Shares	Rs.10/- each	Rs.58.000 Millions
20000	13.5% Redeemable Cumulative Preference Shares	Rs.100/- each	Rs.2.000 Millions
100000	10% Cumulative Convertible Preference Shares	Rs.100/- each	Rs.10.000 Millions
	TOTAL		Rs.70.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5749965	Equity Shares	Rs.10/- each	Rs.57.500 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		57.500	57.500	57.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		142.607	125.596	103.284
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		200.107	183.096	160.784
LOAN FUNDS
1] Secured Loans		380.864	339.960	471.016
2] Unsecured Loans		129.126	133.174	127.785
TOTAL BORROWING		509.990	473.134	598.801
DEFERRED TAX LIABILITIES		54.900	40.800	50.500
TOTAL		764.997	697.030	810.085
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		458.656	508.328	560.014
Capital work-in-progress		5.054	0.207	0.000
INVESTMENT		0.027	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	194.056	182.422	210.269
	Sundry Debtors	83.936	56.528	59.889
	Cash & Bank Balances	52.751	3.289	3.702
	Other Current Assets	1.075	1.457	1.504
	Loans & Advances	91.814	80.594	84.727
Total Current Assets		423.632	324.290	360.091
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	66.515	44.952	16.446
	Other Current Liabilities	19.574	70.506	66.970
	Provisions	36.283	20.337	26.604
Total Current Liabilities		122.372	135.795	110.020
Net Current Assets		301.260	188.495	250.071
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		764.997	697.030	810.085

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	903.322	785.361	658.578
		Other Income	41.879	(31.798)	4.882
		TOTAL (A)	945.201	753.563	663.460
Less	EXPENSES
		Consumption materials changes inventories	501.612	397.770	356.368
		Manufacturing service costs	105.300	86.643	70.989
		Employee related expenses	81.984	71.834	68.180
		Administrative selling other expenses	106.541	73.478	82.321
		TOTAL (B)	795.437	629.725	577.858
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		149.764	123.838	85.602
Less	FINANCIAL EXPENSES (D)		45.191	50.051	62.644
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		104.573	73.787	22.958
Less/ Add	DEPRECIATION/ AMORTISATION (F)		58.639	58.275	57.602
	PROFIT BEFORE TAX (E-F) (G)		45.934	15.512	(34.644)
Less	TAX (H)		18.900	(6.800)	0.722
	PROFIT AFTER TAX (G-H) (I)		27.034	22.312	(35.366)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		12.284	(10.028)	25.338
Add	TRANSFER FROM DEBENTURE REDEMPTION RESERVE		10.250	0.000	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	3.696	0.000	0.000
		Proposed Dividend	8.625
		Provision for dividend distribution tax	1.399
	BALANCE CARRIED TO THE B/S		35.849	12.284	(10.028)
	EARNINGS IN FOREIGN CURRENCY
		FOB value	42.667	30.204	52.943
	TOTAL EARNINGS		42.667	30.204	52.943
	IMPORTS
		Raw Materials	35.264	89.524	50.004
		Stores & Spares	2.894	1.960	3.646
		Machinery	17.887	0.000	19.130
	TOTAL IMPORTS		56.045	91.484	72.780
	Earnings Per Share (Rs.)		4.70	3.88	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.86	2.96	5.33
Net Profit Margin (PBT/Sales)	(%)	5.08	1.98	5.26
Return on Total Assets (PBT/Total Assets}	(%)	10.84	1.86	3.76
Return on Investment (ROI) (PBT/Networth)		0.23	0.08	0.22
Debt Equity Ratio (Total Liability/Networth)		3.16	3.32	4.41
Current Ratio (Current Asset/Current Liability)		3.46	2.39	3.27

LOCAL AGENCY FURTHER INFORMATION

Performance of the Company

The turnover for the financial year was Rs.903.322 Millions as against Rs.785.361 Millions for the previous financial year registering a growth of 15%. The Profit before tax for financial year 2010-11 was Rs.45.935 Millions as against Rs.15.512 Millions.

The undue fluctuation in price in both raw material and finished goods from the last quarter of financial year 2010-11 have struck down the progressive improvement of both the top line and bottom line. The continuing power cut and restrictions on power supply during peak hour affected the effective capacity utilization of textile industry in Tamilnadu. Despite of the above adverse factors, the company achieved substantial improvement in turnover and profitability.

Future Prospects

The expansion plan, deferred in the earlier years, will be taken up in the financial year 2011-12. The Company proposes to add one more wind mill of 850 KW near Tenkasi for captive consumption in the financial year 2011-12. Inconsistency of fibre policy of Government, shortage of power in the state, rampant shortage of workers and undulation in fibre and yarn price continue to persist. However, your directors are confident that during the current year also the company will be able to increase its productivity and profitability on implementation of the above expansion.

FIXED ASSETS

· Land

· Building

· Machinery

· Windmills

· Tools and Materials

· Furniture and Fixtures

· Office Equipments

· Vehicles

· Livestock

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.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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.