MIRA INFORM REPORT

Report Date :

01.08.2012

IDENTIFICATION DETAILS

Name :	TARAJYOT POLYMERS LIMITED
Registered Office :	16A, Chowringhee Mansion, 30, Jawaharlal Nehru Road, Kolkata-700016, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.03.1990
Com. Reg. No.:	21-048568
Capital Investment / Paid-up Capital :	Rs. 54.913 Millions
CIN No.: [Company Identification No.]	U51909WB1990PLC48568
TAN No.: [Tax Deduction & Collection Account No.]	CALT02086A CALT02955B
PAN No.: [Permanent Account No.]	AABCT1251A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Supplier of Polymers, Hdpe Polymers, Idpe Granules, Mdpe, Pet reprocessed polymer
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 550000
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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	BB+ (Long Term Facility)
Rating Explanation	This rating are considered to have moderate risk of default regarding timely servicing of financial obligation
Date	02.05.2012

Rating Agency Name	ICRA
Rating	A4+ (Short Term)
Rating Explanation	This rating is considered to have minimal degree of safety regarding timely payment of financial obligations. Such instruments cavy very high credit risk and are susceptible to default.
Date	02.05.2012

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	16A, Chowringhee Mansion, 30, Jawaharlal Nehru Road, Kolkata-700016, West Bengal, India
Tel. No.:	91-33-22293958
Fax No.:	91-33-22172463
E-Mail :	binay@shyam-group.com r.ramsisaria@yahoo.co.in
Head Office :	37/12-1, Archana Complex, 4^TH Cross, Lalbagh Road, Bangalore-560027, Karnataka, India
Tel. No.:	91-80-22955160 / 22226081
Fax No.:	91-80-22273573

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Suresh Kumar Ramsisaria
Designation :	Director
Address :	23, Golahalli Village, Jigani Hobli, Taluka Anekal, Bangalore-560025, Karnataka, India
Date of Appointment :	11.12.1995
PAN No.:	ADEPR8800Q
DIN No.:	00312362

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74950KA1984PTC006590	PRADEEP INDSUTRIAL PACKERS PRIVATE LIMITED	Director	28/01/1985	28/01/1985	20/06/2009	Active	NO
2	U51909WB1990PLC048568	TARAJYOT POLYMERS LIMITED	Director	11/12/1995	11/12/1995	-	Active	NO
3	U65993WB1985PLC048162	VISURA TRADING AND INVESTMENT INDIA LIMITED	Director	15/11/1996	15/11/1996	-	Active	NO
4	U51109WB1995PTC073676	CHAKRAPANI VYAPAR PRIVATE LIMITED	Director	11/09/2002	11/09/2002	05/11/2008	Active	NO
5	U05190KA2005PTC036305	MURARI TRADING PRIVATE LIMITED	Director	13/05/2005	13/05/2005	-	Active	NO
6	U15311KA1970PTC001889	SEETHALAKSHMI HALL FLOUR MILLS PRIVATE LIMITED	Director	21/07/2005	21/07/2005	-	Active	NO
7	U70101KA2005PTC037217	TORTOISE REAL ESTATES PRIVATE LIMITED	Director	14/09/2005	14/09/2005	25/01/2010	Active	NO
8	U51909KA2006PTC038208	SHYAM FINTRADE PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Active	NO
9	U51495KA2006PTC038198	KAMDHENU POLYTECH PRIVATE LIMITED	Director	10/01/2006	10/01/2006	01/11/2008	Active	NO
10	U25209DL2004PTC127015	D N S FAB PRIVATE LIMITED	Director	17/08/2006	17/08/2006	21/08/2007	Active	NO
11	U51495WB1989PTC047770	TARAJYOT ENTERPRISES PRIVATE LIMITED	Director	26/02/2007	26/02/2007	25/08/2011	Active	NO
12	U51495KA2005PTC037334	SHYAM GANGA TRADERS PRIVATE LIMITED	Director	10/05/2007	10/05/2007	-	Active	NO
13	U24134KA2007PTC042801	SWIFT POLYMERS PRIVATE LIMITED	Director	15/05/2007	15/05/2007	-	Active	NO
14	U25209KA2006PTC038704	SHYAM FINCOM PRIVATE LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO
15	U25209KA2007PTC043037	SPRINT PLASTICS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
16	U17114KA2006PTC038802	AMBIKA COTFAB BANGALORE PRIVATE LIMITED	Director	15/09/2007	15/09/2007	04/02/2008	Active	NO
17	U25209KA2008PTC045577	CSM POLYMERS PRIVATE LIMITED	Director	12/03/2008	12/03/2008	13/11/2009	Active	NO
18	U67120KA1986PTC007516	ABHINANDAN INVESTMENTS PRIVATE LIMITED	Director	14/03/2008	14/03/2008	-	Active	NO
19	U51102KA2005PTC035897	SHYAM AGENCY PRIVATE LIMITED	Director	14/03/2008	14/03/2008	31/03/2009	Active	NO
20	U24139KA2008PTC045662	WELNET POLYMERS PRIVATE LIMITED	Director	18/03/2008	18/03/2008	15/05/2009	Active	NO
21	U25200KA2008PTC045388	JURONG POLYMERS PRIVATE LIMITED	Director	14/05/2009	14/05/2009	17/01/2011	Active	NO
22	U70100KA2007PTC043038	JARDINE ESTATES PRIVATE LIMITED	Director	14/05/2009	14/05/2009	25/01/2011	Active	NO
23	U65910KA1996PTC021091	NEW AGE VANILLA AND SPICE PRIVATE LIMITED	Director	27/08/2009	27/08/2009	-	Active	NO
24	U32305WB1991PTC051091	P P PRODUCTS PRIVATE LIMITED	Director	10/03/2010	10/03/2010	-	Active	NO
25	U25201WB1998PTC087099	KAMDHENU POLYMERS PRIVATE LIMITED	Director	10/03/2010	10/03/2010	01/09/2011	Active	NO
26	U25206KA2011PTC057034	NISSAN POLYMERS PRIVATE LIMITED	Director	11/02/2011	11/02/2011	-	Active	NO
27	U25199KA2011PTC057338	MANZA POLYMERS PRIVATE LIMITED	Director	02/03/2011	02/03/2011	-	Active	NO
28	U25200KA2011PTC057339	ETIOS POLYMERS PRIVATE LIMITED	Director	03/03/2011	03/03/2011	-	Active	NO
29	U25190KA2011PTC059596	UDHBHAV POLYMERS PRIVATE LIMITED	Director	14/07/2011	14/07/2011	-	Active	NO
30	U25209KA2011PTC059625	APARAJEET POLYMERS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO
31	U70109KA2011PTC060826	SHUBHANKAR ESTATES PRIVATE LIMITED	Director	14/10/2011	14/10/2011	-	Active	NO
32	U70100KA2011PTC060870	VIDYAVARIDHI ESTATES PRIVATE LIMITED	Director	19/10/2011	19/10/2011	-	Active	NO
33	U25190KA2011PTC060866	SHUBHANKAR POLYMERS PRIVATE LIMITED	Director	19/10/2011	19/10/2011	09/11/2011	Active	NO
34	U25200KA2011PTC061005	MAHAMAYO POLYMERS PRIVATE LIMITED	Director	01/11/2011	01/11/2011	21/05/2012	Active	NO
35	U25203KA2011PTC061078	SHWETAMBAR POLYMERS PRIVATE LIMITED	Director	04/11/2011	04/11/2011	-	Active	NO
36	U25200KA2011PTC061114	SAKSHI POLYMERS PRIVATE LIMITED	Director	09/11/2011	09/11/2011	-	Active	NO
37	U25199KA2011PTC061428	ADIDEV POLYMERS PRIVATE LIMITED	Director	30/11/2011	30/11/2011	-	Active	NO
38	U29130HR2010PTC039975	KRP AUTO INDUSTRIES PRIVATE LIMITED	Director	14/12/2011	14/12/2011	-	Active	NO
39	U25200KA2012PTC062663	LAKSHMIWAN POLYMERS PRIVATE LIMITED	Director	22/02/2012	22/02/2012	-	Active	NO
40	U25194KA2012PTC063328	AVYUKTA POLYMERS PRIVATE LIMITED	Director	30/03/2012	30/03/2012	-	Active	NO
41	U25199KA2012PTC063970	ABHIJEET POLYMERS PRIVATE LIMITED	Director	14/05/2012	14/05/2012	-	Active	NO
42	U25200KA2012PTC064116	DANTA POLYMERS PRIVATE LIMITED	Director	23/05/2012	23/05/2012	-	Active	NO
43	U25200KA2012PTC064322	PATRADHARINI POLYMERS PRIVATE LIMITED	Director	08/06/2012	08/06/2012	-	Active	NO
44	U25190KA2012PTC064321	VARADA POLYMERS PRIVATE LIMITED	Director	08/06/2012	08/06/2012	-	Active	NO
45	U25200KA2012PTC064371	ADIPURUSH POLYMERS PRIVATE LIMITED	Director	13/06/2012	13/06/2012	-	Active	NO
46	U25200KA2012PTC064718	ASHUTOSH POLYMERS PRIVATE LIMITED	Director	04/07/2012	04/07/2012	-	Active	NO
47	U25199KA2012PTC064840	GIRIVAR POLYMERS PRIVATE LIMITED	Director	13/07/2012	13/07/2012	-	Active	NO
48	U25200KA2012PTC064943	JAIKAPEESH POLYMERS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO

Name :	Mr. Chandra Prakash Ramsisaria
Designation :	Managing Director
Address :	AD-299, Saltlake City, Sector-1, Salt Lake-700064, West Bengal, India
Date of Appointment :	27.04.1994
PAN No.:	ADEPR8799L
DIN No.:	00312494

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909WB1984PLC037373	SHYAM TEXTILES LIMITED	Director	13/06/1984	13/06/1984	-	Active	NO
2	U74950KA1984PTC006590	PRADEEP INDSUTRIAL PACKERS PRIVATE LIMITED	Director	28/01/1985	28/01/1985	15/06/2009	Active	NO
3	U51909WB1990PLC048568	TARAJYOT POLYMERS LIMITED	Managing director	15/11/2010	27/04/1994	-	Active	NO
4	U32305WB1991PTC051091	P P PRODUCTS PRIVATE LIMITED	Director	30/09/1994	30/09/1994	-	Active	NO
5	U25202KA1996PTC019913	SHYAM SYNTHETICS PRIVATE LIMITED	Director	23/02/1996	23/02/1996	-	Active	NO
6	U51495KA1999PTC025605	SEVEN SEAS POLYMERS PRIVATE LIMITED	Director	17/08/1999	17/08/1999	01/10/2008	Active	NO
7	L25200TN1985PLC011622	VIRGO POLYMERS INDIA LIMITED	Director	29/05/2000	29/05/2000	25/08/2011	Active	NO
8	U72900KA2000PTC027421	SHYAM GODAVARI STEELS PRIVATE LIMITED	Whole-time director	27/07/2000	27/07/2000	-	Active	NO
9	U02423KA2004PTC033513	GYAN GANGA MEDICAL KENDRA PRIVATE LIMITED	Director	04/03/2004	04/03/2004	-	Active	NO
10	U51909KA2006PTC038208	SHYAM FINTRADE PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Active	NO
11	U24134KA2006PTC038205	ALTO POLYMERS PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Active	NO
12	U25206KA2003PTC031514	AMBIKA EXTRUDERS PRIVATE LIMITED	Director	06/02/2006	06/02/2006	-	Active	NO
13	U67120KA1986PTC007516	ABHINANDAN INVESTMENTS PRIVATE LIMITED	Director	27/04/2007	27/04/2007	-	Active	NO
14	U05190KA2005PTC035996	BHAVANI POLYMERS PRIVATE LIMITED	Director	15/05/2007	15/05/2007	-	Active	NO
15	U24134KA2007PTC042801	SWIFT POLYMERS PRIVATE LIMITED	Director	15/05/2007	15/05/2007	-	Active	NO
16	U65910KA1996PTC021091	NEW AGE VANILLA AND SPICE PRIVATE LIMITED	Director	30/05/2007	30/05/2007	-	Active	NO
17	U25209KA2006PTC038704	SHYAM FINCOM PRIVATE LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO
18	U25209KA2007PTC043037	SPRINT PLASTICS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
19	U70100KA2007PTC043038	JARDINE ESTATES PRIVATE LIMITED	Director	06/06/2007	06/06/2007	11/03/2011	Active	NO
20	U70102KA2007PTC043044	MMS ESTATES PRIVATE LIMITED	Director	07/06/2007	07/06/2007	13/11/2008	Active	NO
21	U67120KA1977PTC003260	DEESONS PRIVATE LIMITED	Director	18/06/2007	18/06/2007	-	Active	NO
22	U14102KA2007PTC043203	P P GRANITES PRIVATE LIMITED	Director	22/06/2007	22/06/2007	-	Active	NO
23	U40101WB1997PLC083230	TOTAL ENERGY GROUP LIMITED	Director	16/07/2007	16/07/2007	-	Active	NO
24	U25200KA2008PTC045388	JURONG POLYMERS PRIVATE LIMITED	Director	25/02/2008	25/02/2008	20/05/2011	Active	NO
25	U25200KA2008PTC045464	PUSAN TEXTRADE PRIVATE LIMITED	Director	29/02/2008	29/02/2008	14/03/2011	Active	NO
26	U51102KA2005PTC035897	SHYAM AGENCY PRIVATE LIMITED	Director	01/07/2010	14/03/2008	-	Active	NO
27	U25201WB1998PTC087099	KAMDHENU POLYMERS PRIVATE LIMITED	Director	01/08/2008	01/08/2008	01/09/2011	Active	NO
28	U36900WB2001PTC092957	KAMDHENU LABELS PRIVATE LIMITED	Director	18/01/2010	18/01/2010	-	Active	NO
29	U25206KA2011PTC057034	NISSAN POLYMERS PRIVATE LIMITED	Director	11/02/2011	11/02/2011	-	Active	NO
30	U25199KA2011PTC057338	MANZA POLYMERS PRIVATE LIMITED	Director	02/03/2011	02/03/2011	-	Active	NO
31	U25200KA2011PTC057339	ETIOS POLYMERS PRIVATE LIMITED	Director	03/03/2011	03/03/2011	-	Active	NO
32	U25190KA2011PTC059596	UDHBHAV POLYMERS PRIVATE LIMITED	Director	14/07/2011	14/07/2011	-	Active	NO
33	U25209KA2011PTC059625	APARAJEET POLYMERS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO
34	U24132KA2001PTC061131	MIDCON POLYMERS PRIVATE LIMITED	Director	19/03/2012	19/03/2012	-	Active	NO
35	U25190KA2012PTC064321	VARADA POLYMERS PRIVATE LIMITED	Director	08/06/2012	08/06/2012	-	Active	NO
36	U25200KA2012PTC064567	BHUDEVA POLYMERS PRIVATE LIMITED	Director	26/06/2012	26/06/2012	-	Active	NO
37	U25209KA2012PTC064563	RAMACHANDRA POLYMERS PRIVATE LIMITED	Director	26/06/2012	26/06/2012	-	Active	NO
38	U25200KA2012PTC064940	DAYASARA POLYMERS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO

Name :	Mr. Ram Awtar Ramsisaria
Designation :	Director
Address :	AD-299, Saltlake City, Sector-1, Salt Lake-700064, West Bengal, India
Date of Appointment :	13.03.1990
PAN No.:	ADNPR0679N
DIN No.:	00568495

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909WB1990PLC048568	TARAJYOT POLYMERS LIMITED	Director	13/03/1990	13/03/1990	-	Active	NO
2	U51495WB1989PTC047770	TARAJYOT ENTERPRISES PRIVATE LIMITED	Director	24/12/1991	24/12/1991	-	Active	NO
3	U70101WB1988PLC045438	ABA BUILDERS LIMITED	Whole-time director	01/01/2012	16/02/1994	-	Active	NO
4	U14101RJ1995PTC010160	MERU MARMO PRIVATE LIMITED	Director	06/06/1995	06/06/1995	01/11/2007	Active	NO
5	U45201WB1996PLC082080	RAMSISARIA BUILDERS LIMITED	Director	22/11/1996	22/11/1996	01/10/2011	Active	NO
6	L25200TN1985PLC011622	VIRGO POLYMERS INDIA LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
7	U36900WB2001PTC092957	KAMDHENU LABELS PRIVATE LIMITED	Director	01/03/2001	01/03/2001	-	Active	NO
8	U45209WB1986PTC040701	RAMESWARA NURSING HOME PRIVATE LIMITED	Director	14/02/2003	14/02/2003	-	Active	NO
9	U14101RJ2004PTC012654	RAMSISARIA MARBLES PRIVATE LIMITED (TRANSFER FROM CALCUTTA TO RAJ.	Director	08/03/2004	08/03/2004	-	Strike off	NO
10	U25191UP2000PTC025646	P P POLYPLAST PRIVATE LIMITED	Director	01/04/2005	01/04/2005	01/03/2011	Active	NO
11	U25209WB2005PTC104059	ANNAPURNA PACKAGING INDUSTRIES PRIVATE LIMITED	Director	07/07/2005	07/07/2005	-	Active	NO
12	U32305WB1991PTC051091	P P PRODUCTS PRIVATE LIMITED	Director	10/11/2006	10/11/2006	30/11/2006	Active	NO
13	U45200WB2007PTC113845	SK NIKETAN PRIVATE LIMITED	Director	09/04/2007	09/04/2007	-	Active	NO
14	U74899DL2005PTC139535	KAILASHPATI POLYPLAST PRIVATE LIMITED	Director	10/10/2008	10/10/2008	-	Active	NO
15	U51101DL1996PTC077930	PINE POLYMERS PRIVATE LIMITED	Additional director	20/01/2009	20/01/2009	-	Active	NO
16	U25209DL2003PTC120959	NAVYUG POLYSTOCK CENTRE PRIVATE LIMITED	Director	21/04/2012	21/04/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Niraj Ramsisaria	21030
Ramawatar Ramsisaria	15090
Arun Chirania	5
Mohan Agarwal	5
Chandra Prakash Armsisaria	3000
Sunita Ramsisaia	8000
Lila Jain	2000
Lalita Rungta	2000
Chatter Singh Kothari	2500
Arun Agarwal	2500
Ramjet Pandey	14000
Kusum Agarwal	1500
Krishna Agarwal	2500
Birma Bhoot	1000
Isotech Tie-Up Private Limited, India	54500
Ramsisaria Builders Limited, India	46000
Piyush Fiscal Limited, India	45500
Vandana Griha Nirman Limited, India	40000
Payal Ramsisaria	5000
Aditi Ramsisaria	5000
Nupur Ramsisaria	10000

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	48.99
Directors or relatives of Directors	17.05
Other top fifty shareholders	33.96
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Polymers, Hdpe Polymers, Idpe Granules, Mdpe, Pet reprocessed polymer

Products :

ITC CODE	PRODUCTS
390210	Plastic Granules
NA	DEPB / DFIA

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Commercial Branch, Rajajnagar Industrial Estate, Bangalore-560044, Karnataka, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Working capital loans secured
Working capital loans banks secured	22.148	23.010
Loans taken for fixed assets secured
Loans taken for vehicles secured	0.000	0.063
TOTAL	22.148	23.073

Banking Relations :	--
Auditors :
Name :	S. Bhalotia and Associates Chartered Accountant
Address :	IF, East India House, 20B, Abdul Hamid Street, India
PAN No.:	ABDFS9117L
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· P. P. Products Private Limited · Shyam Textiles Limited · Kamdhenu Polymers Private Limited · Shyam Plastic Consultants · Annapurna Packaging Industries Private Limited · Seethalakshmi Hall Four Mills Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
550000	Equity Shares	Rs.100/- each	Rs. 55.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
549130	Equity Shares	Rs.100/- each	Rs. 54.913 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		54.913	48.913	48.913
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		84.158	36.528	16.630
4] (Accumulated Losses)		0.0000	0.000	0.000
NETWORTH		139.071	85.441	65.543
LOAN FUNDS
1] Secured Loans		22.148	23.073	100.246
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		22.148	23.073	100.246
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		161.219	108.514	165.789
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.871	0.319	0.409
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		8.253	8.641	9.189
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	286.225	174.781	124.257
	Sundry Debtors	58.943	138.802	78.744
	Cash & Bank Balances	76.415	85.100	81.204
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	66.858	47.771	44.264
Total Current Assets		488.441	446.454	328.469
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	312.834	285.168	162.495
	Other Current Liabilities	15.259	51.570	3.013
	Provisions	8.253	10.162	6.770
Total Current Liabilities		336.346	346.900	172.278
Net Current Assets		152.095	99.554	156.191
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		161.219	108.514	165.789

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1859.070	966.185	891.701
		Other Income	7.142	7.798	0.097
		TOTAL (A)	1866.212	973.983	891.798
Less	EXPENSES
		Consumption materials changes inventories	1634.003	844.457	777.558
		Employees related expenses	1.130	1.049	0
		Administrative, Selling and Other Expenses	191.420	92.515	3.158
		Direct Expenses	--	--	35.537
		Foreign Exchange Fluctuation	--	--	125.256
		Operating Expenses	--	--	3.526
		Increase / (Decrease) in Stock	--	--	(40.659)
		TOTAL (B)	1826.553	938.021	904.376
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		39.659	35.962	(12.578)
Less	FINANCIAL EXPENSES (D)		16.053	15.392	17.040
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		23.606	20.570	(29.618)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.316	0.128	0.169
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		23.290	20.442	(29.787)
Less	TAX (H)		(0.340)	0.545	(9.142)
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		23.630	19.897	(20.645)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		20.527	0.630	21.275
	BALANCE CARRIED TO THE B/S		44.157	20.527	0.630
	EXPORT VALUE		10.914	4.055	0.000
	IMPORTS VALUE		1738.755	896.881	734.682
	Earnings (Loss) Per Share (Rs.)		46.00	41.00	(42.00)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.27	2.04	(2.31)
Net Profit Margin (PBT/Sales)	(%)	1.25	2.12	(3.34)
Return on Total Assets (PBT/Total Assets}	(%)	4.68	4.49	(8.81)
Return on Investment (ROI) (PBT/Networth)		0.17	0.24	(0.45)
Debt Equity Ratio (Total Liability/Networth)		2.58	4.33	4.16
Current Ratio (Current Asset/Current Liability)		1.45	1.29	1.91

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	Yes
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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
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
31]	PAN of Proprietor/Partner/Director, if available	Yes
32]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No

FIXED ASSETS

· Computer

· Motor Cycle

· Scooter

· Car

· Air Conditioner

· Digital Camera

· Xerox Machine

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. 55.80
UK Pound	1	Rs. 87.66
Euro	1	Rs. 68.45

INFORMATION DETAILS

Report Prepared by :

DPT

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	5
--CREDIT LINES	1~10	4
--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		45

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.