1. Summary Information

		Country	India
Company Name	ATLAS METAL PROCESSORS PRIVATE LIMITED	Principal Name 1	Mr. Victor Ponniah Kingston Victor
Status	Satisfactory	Principal Name 2	Mr. Ramanujam Nalman Maharajan
		Registration #	06.02.1995
Street Address	173/3, Nehru Street, Old Mahabalipuram Road, Sholinganallur, Chennai-600119, Taminadu, India
Established Date	06.02.1995	SIC Code	--
Telephone#	91-44-24503360/24916691	Business Style 1	Manufacturer
Fax #	91-44-24501388	Business Style 2	-
Homepage		Product Name 1	Metals
# of employees	Not Available	Product Name 2	-
Paid up capital	Rs. 3,204,000/-	Product Name 3	-
Shareholders	Directors or relatives of Directors – 100.00 %	Banking	Tamilnad Mercantile Bank Limited
Public Limited Corp.	No	Business Period	16 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (47)

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	97,531,000	Current Liabilities	11,403,000
Inventories	49,771,000	Long-term Liabilities	130,035,000
Fixed Assets	33,841,000	Other Liabilities	40000
Deferred Assets	0.000	Total Liabilities	141,478,000
Invest& other Assets	0.000	Retained Earnings	36,461,000
		Net Worth	39,665,000
Total Assets	181,143,000	Total Liab. & Equity	181,143,000
Total Assets (Previous Year)	95,665,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	347,448,000	Net Profit	6,737,000
Sales(Previous yr)	224,834,000	Net Profit(Prev.yr)	7,019,000

MIRA INFORM REPORT

Report Date :

17.04.2012

Tel. No.:	91-44-24503360
Fax No.:	91-44-24501388

IDENTIFICATION DETAILS

Name :	ATLAS METAL PROCESSORS PRIVATE LIMITED
Registered Office :	173/3, Old Mahabalipuram Road, Nehru Street, Sholinganallur, Chennai 600119, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.02.1995
Com. Reg. No.:	18-030082
Capital Investment / Paid-up Capital :	Rs. 3.204 Millions
CIN No.: [Company Identification No.]	U28991TN1995PTC030082
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Metals
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 150000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are 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 :	173/3, Old Mahabalipuram Road, Nehru Street, Sholinganallur, Chennai 600119, Tamil Nadu, India
Tel. No.:	91-44-24503360/24916691/24501407/24501678
Fax No.:	91-44-24501388
E-Mail :	nipam_ca@hotmail.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Victor Ponniah Kingston Victor

Designation :

Director

Address:

10, 5^th Cross Street, Adyar, Chennai – 600020, Tamilnadu, India

Date of Birth/Age :

10.07.1958

Date of Appointment :

06.02.1995

DIN No.:

01427074

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	U28991TN1995PTC030082	ATLAS METAL PROCESSORS PRIVATE LIMITED	Director	6/2/1995	6/2/1995	-	Active	NO
2	U28931TN2003PTC052197	VENTURE METAL PRODUCTS PRIVATE LIMITED	Director	22/12/2003	22/12/2003	-	Active	NO
3	U28112TN2006PTC061334	THERMO HOUSEWARES PRIVATE LIMITED	Director	17/10/2006	17/10/2006	-	Active	NO
4	U28996KL1995PTC009253	PARMAN ENTERPRISES PRIVATE LIMITED	Director	14/01/2008	14/01/2008	-	Active	NO

Name :

Mr. Ramanujam Nalman Maharajan

Designation :

Director

Date of Birth/Age :

05.01.1959

Date of Appointment :

01.10.2010

DIN No.:

03300633

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	U28991TN1995PTC030082	ATLAS METAL PROCESSORS PRIVATE LIMITED	Director	1/10/2010	1/10/2010	-	Active	NO
2	U28112TN2006PTC061334	THERMO HOUSEWARES PRIVATE LIMITED	Director	1/10/2010	1/10/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Hareesh Vasanji	160200
Kingstone Pannaiah Victor	160200
Total	320400

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.000
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Metals

GENERAL INFORMATION

Customers :

Not Available

No. of Employees :

Not Available

Bankers :

Tamilnad Mercantile Bank Limited, Chennai Sholinganallur Branch, 125/1, IT Highway, Old Mahalingapuram, Solinganallur, Chennai 600119, Tamil Nadu, India

(Rs. In Millions)

Facilities :

Secured Loan	As on 31.03.2011	As on 31.03.2010
TMB LC	39.803	27.526
HSBC LC Loan	3.656	0.000
Buyers Credit	19.757	0.000
TMB – Term Loan	7.990	0.000
Total	71.206	27.526
Secured Loan	As on 31.03.2011	As on 31.03.2010
From Directors Friends and Relative	4.368	4.144
From Others	54.460	3.570
Total	58.828	7.714

Banking Relations :	--
Auditors :
Name :	Mukesh C Mehta Chartered Accountant
Address :	35/1, Kasi Chetty Street, Chennai 600079, Tamil Nadu, India
Tel. No.:	91-44-25380942
Fax No.:	91-44-25367819
PAN No.:	AANPM2558E

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
350000	Equity Shares	Rs.10/- each	Rs.3.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
320400	Equity Shares	Rs.10/- each	Rs.3.204 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		3.204	3.204	3.204
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		36.461	29.724	22.705
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		39.665	32.928	25.909
LOAN FUNDS
1] Secured Loans		71.207	27.526	12.715
2] Unsecured Loans		58.828	7.714	4.328
TOTAL BORROWING		130.035	35.240	17.043
DEFERRED TAX LIABILITIES		0.031	0.634	0.659
TOTAL		169.731	68.802	43.611
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.841	19.640	21.017
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	49.771	2.095	28.256
	Sundry Debtors	71.450	65.926	22.181
	Cash & Bank Balances	9.407	0.532	0.840
	Other Current Assets	16.674	7.472	10.930
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		147.302	76.025	62.207
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.670	21.681	0.000
	Other Current Liabilities	2.733	5.178	39.542
	Provisions	0.009	0.004	0.071
Total Current Liabilities		11.412	26.863	39.613
Net Current Assets		135.890	49.162	22.594
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		169.731	68.802	43.611

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	347.448	224.834	110.847
		Other Income	1.865	2.383	1.518
		TOTAL	349.313	227.217	112.365
Less	EXPENSES
		Cost of Goods Sold	(47.676)	26.162	1.145
		Manufacturing Expenses	350.985	166.682	89.671
		Administrative Expenses	28.545	15.639	11.188
		Selling and Distribution Expenses	4.327	3.674	2.199
		Miscellaneous Expenses	4.312	4.987	3.821
		Loss on Sale of Vehicles	0.000	0.046	0.000
		TOTAL	340.493	217.190	108.024
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		8.820	10.027	4.341
Less/ Add	DEPRECIATION/ AMORTISATION		2.606	2.976	2.957
	PROFIT BEFORE TAX		6.214	7.051	1.384
Less	TAX		(0.523)	0.032	1.017
	PROFIT AFTER TAX		6.737	7.019	0.367
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		29.724	22.705	22.338
	BALANCE CARRIED TO THE B/S		36.461	29.724	22.705
	Earnings Per Share (Rs.)		21.02	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.92	3.08	0.32
Net Profit Margin (PBT/Sales)	(%)	1.78	3.13	1.23
Return on Total Assets (PBT/Total Assets}	(%)	4.21	9.27	2.22
Return on Investment (ROI) (PBT/Networth)		0.15	0.21	0.05
Debt Equity Ratio (Total Liability/Networth)		0.28	0.81	1.52
Current Ratio (Current Asset/Current Liability)		12.90	2.83	1.57

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	No
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

PERFORMANCE OF THE COMPANY

The performance of the company during the financial year 2010-2011 was satisfactory. The company achieved a gross receipt of Rs. 347.747 millions and achieved a net profit of Rs.6.213 millions before providing for MAT of Rs. 9.210 million and after providing depreciation of Rs. 2.606 millions.

Corporate identity number of the company	U28991TN1995PTC030082
Name of the company	ATLAS METAL PROCESSORS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	173/3, Old Mahabalipuram Road, Nehru Street, Sholinganallur, Chennai 600119, Tamil Nadu, India Email: nipam_ca@hotmail.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Tamilnad Mercantile Bank Limited, Chennai Sholinganallur Branch, 125/1, IT Highway, Old Mahalingapuram, Solinganallur, Chennai 600119, Tamil Nadu, India Email: sholinganallur@tnmbonline.com
Nature of instrument creating charge	Deed of Hypothecation and Articles of Agreement
Date of instrument Creating the charge	31.03.2011
Amount secured by the charge	Rs.8.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest BR+3% presently 12.5% p.a Terms of Repayment Repayable in 60 Monthly Installments Margin 50% Extent and Operation of the charge The borrower shall not , during the continuance of this agreement of Hypothecation or otherwise, charge or encumber any of the assets for the time being the subject or indented to be the subject of the security nor do or permit any act whereby the security herein before expressed to be given to the bank shall be any way prejudicially affected. Ebts Others Company has availed the Term Loan of Rs. 80 Lakhs
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hy of Galdabini Make 100 Tons Press and 100 Tons of CNC Press, Cayenachi Ridolifi make C.R.Press 60 Tons , Automatic Polishing Machine 6 Station, Dies, Tools for coffee machine make westas RRB

FIXED ASSETS:

• Building
• Furniture
• Electrical Fittings
• Tools and Dies
• Telephone Intercom
• Vehicle
• Van
• Motor Car
• Plant and Machinery
• Computer
• Cellular Phone
• Intercom
• Bus
• Printer
• Cell Phone

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.51.65
UK Pound	1	Rs.81.79
Euro	1	Rs.67.18

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		47

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.