1. Summary Information

		Country	India
Company Name	LUBRIZOL INDIA PRIVATE LIMITED	Principal Name 1	Mr. Gyan Chand Daga
Status	Good	Principal Name 2	Mr. Kannan Narasimha Gopala Desika Chariar
		Registration #	11-013538
Street Address	2^nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400 025, Maharashtra, India
Established Date	20.07.1966	SIC Code	--
Telephone#	91-22-24300672 / 0784 / 1856 / 2315 / 24222062 / 24302315 / 24370995	Business Style 1	Manufacturing
Fax #	91-22-24300251 / 24370994 / 24366097	Business Style 2	Marketing
Homepage	http://www.lubrizol.com	Product Name 1	Lubricants
# of employees	500 (Approximately)	Product Name 2	--
Paid up capital	Rs. 192,000,000/-	Product Name 3	--
Shareholders	Government Companies - 50.00 % Foreign holdings - 50.00 %	Banking	State Bank of India
Public Limited Corp.	No	Business Period	46 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	A (66)
Related Company
Relation	Country	Company Name	CEO
Related Parties	--	Lubrizol Corporation	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.12.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1943,253,000	Current Liabilities	653,759,000
Inventories	1745,322,000	Long-term Liabilities	53,000
Fixed Assets	835,630,000	Other Liabilities	891,641,000
Deferred Assets	0	Total Liabilities	1545,453,000
Invest& other Assets	81,598,000	Retained Earnings	2868,350,000
		Net Worth	3060,350,000
Total Assets	4605,803,000	Total Liab. & Equity	4605,803,000
Total Assets (Previous Year)	4,164,149,000
P/L Statement as of	31.12.2011		(Unit: Indian Rs.)
Sales	8,403,386,000	Net Profit	1,390,266,000
Sales(Previous yr)	7,286,194,000	Net Profit(Prev.yr)	1,209,616,000

MIRA INFORM REPORT

Report Date :

29.12.2012

IDENTIFICATION DETAILS

Name :	LUBRIZOL INDIA PRIVATE LIMITED
Registered Office :	2^nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400 025, Maharashtra
Country :	India
Financials (as on) :	31.12.2011
Date of Incorporation :	20.07.1966
Com. Reg. No.:	11-013538
Capital Investment / Paid-up Capital :	Rs. 192.000 millions
CIN No.: [Company Identification No.]	U23201MH1966PTC013538
TAN No.: [Tax Deduction & Collection Account No.]	MUML04740B
PAN No.: [Permanent Account No.]	AAACL0126H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Marketing of Lubricants.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (66)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 12240000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having fine track record. 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 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	AA- (Long Term Rating)
Rating Explanation	High degree of safety and very low credit risk
Date	2^nd August 2012

Rating Agency Name	CRISIL
Rating	A1+ (Short Term Rating)
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	2^nd August 2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ 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.

INFORMATION DENIED BY

Name :	Mr. M. k. Kanadiya
Designation :	Finance Manager
Contact No.:	91-22-2430067

LOCATIONS

Registered Office / Marketing Division:	2^nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400 025, Maharashtra, India
Tel. No.:	91-22-24300672 / 0784 / 1856 / 2315 / 24222062 / 24302315 / 24370995
Fax No.:	91-22-24300251 / 24370994 / 24366097
E-Mail :	pvs@lubrizol.com indulekha.godse@lubrizol.com
Website :	http://www.petroleum.nic.in/lil.htm http://www.lubrizolindia.com http://www.lubrizol.com
Location :	Owned
Regional Office 1 :	524/525, 5^th Floor, Core - 6, Scope Complex, Lodhi Road, New Delhi – 110 003, India
Tel. No.:	91-11-24361317
Fax No.:	91-11-24362879 / 24361629
Regional Office 2 :	Apeejay Business Center, Apeejay House, 12, Haddows Road, Nungambakkam, Chennai – 600 006, Tamilnadu, India
Tel. No.:	91-44-2822 4949
Regional Office 3 :	Room No.-7, 6th Floor Shantiniketan, 8, Carnac Street, Kolkata-700017, West Bengal, India
Tel. No.:	91-33-22824063
Fax No.:	91-33-22825782
Factory 1 / Technical Support Facility:	9/3, Thane Belapur Road, Turbhe, District Thane, Navi Mumbai – 400 705, Maharashtra, India
Tel. No.:	91-22-27672568 / 67759570
Fax No.:	91-22-27627155 / 67759434
Factory 2 :	T-6, MIDC, Industrial Area, Taloja, District Raigad, Maharashtra, India
Tel. No.:	91-22-27410813
Fax No.:	91-22-27410910
Branch Office 1 :	Apeejay Business Center, Apeejay House, 12, Haddows Road, Nungambakkam, Chennai – 600 006, Tamilnadu, India
Tel. No.:	91-44-28224949
Branch Office 2 :	Temple Tower, 2^nd Floor, Nandanam, 476, Anna Salai, Chennai – 600 035, Tamilnadu, India
Tel. No.:	91-44-24346451
Fax No.:	91-44-24330943
Branch Office 3 :	Room No. 7, 6^th Floor, Shantiniketan, 8, Carnac Street, Kolkata – 700 017, West Bengal, India
Tel. No.:	91-33-22824063
Fax No.:	91-33-22825782

DIRECTORS

As on 04.05.2012

Name :

Mr. Gyan Chand Daga

Designation :

Alternate Director

Address :

42, Casa Grande Little Gibbs Road, Malabar Mills, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

08.09.1951

Date of Appointment :

28.11.2011

DIN No.:

00101534

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	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Whole-time director	22/09/2006	04/09/2006	01/10/2011	Active	NO
2	U23200MH1996PLC102222	IOT INFRASTRUCTURE & ENERGY SERVICES LIMITED	Director	27/08/2007	25/09/2006	27/07/2010	Active	NO
3	U74899DL1998PTC097297	INDIANOIL PETRONAS PRIVATE LIMITED	Nominee director	27/07/2010	14/10/2006	30/09/2011	Active	NO
4	U11202KA2006PLC040251	INDIANOIL SKYTANKING LIMITED	Director	11/08/2008	24/09/2007	01/10/2011	Active	NO
5	U74900KA2010PLC053989	INDIANOIL SKYTANKING DELHI LIMITED	Director	08/06/2010	08/06/2010	01/10/2011	Active	NO
6	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Director	28/11/2011	28/11/2011	-	Active	NO

Name :

Mr. Darius Cavasji Shroff

Designation :

Alternate Director

Address :

Moonlight, Flat No.8, 158, M. Karve Road, Churchgate, Mumbai – 400 020, Maharashtra, India

Date of Birth/Age :

08.08.1944

Date of Appointment :

22.07.2004

DIN No.:

00170680

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	U29299MH1963PTC012661	CMP PRIVATE LIMITED	Director	13/04/1989	13/04/1989	-	Active	NO
2	L29130MH1961PLC011980	SKF INDIA LIMITED	Director	03/04/1993	03/04/1993	-	Active	NO
3	L29130MH1976PLC019147	KULKARNI POWER TOOLS LTD	Director	30/03/1995	30/03/1995	-	Active	NO
4	U23201DL1993PTC190652	AVI-OIL INDIA PRIVATE LIMITED	Director	06/08/1996	06/08/1996	-	Active	NO
5	L28920MH1957PLC010839	SIEMENS LIMITED	Director	20/02/1997	20/02/1997	-	Active	NO
6	U24245GA1994PTC001708	PROFESSIONAL ORAL CARE PRODUCTS PRIVATE LIMITED	Director	12/11/1998	12/11/1998	06/07/2009	Amalgamated	NO
7	U72200MH1990PLC056987	UTV SOFTWARE COMMUNICATIONS LIMITED	Director	20/05/2000	20/05/2000	16/03/2012	Active	NO
8	U26993MH1983PLC205758	UNIFRAX INDIA LIMITED	Director	06/10/2000	06/10/2000	-	Active	NO
9	L24120MH1995PLC086986	CIBA INDIA LIMITED	Director	25/01/2001	25/01/2001	30/11/2007	Amalgamated	NO
10	U67120MH2002PTC135029	SWISS RE SERVICES INDIA PRIVATE LIMITED	Director	27/02/2002	27/02/2002	-	Active	NO
11	U24110MH2003PLC142216	BAYER POLYCHEM (INDIA) LIMITED	Director	30/09/2003	30/09/2003	-	Amalgamated	NO
12	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Alternate director	22/07/2004	22/07/2004	-	Active	NO
13	U92110MH2003PTC141168	WARNER BROS PICTURES (INDIA) PRIVATE LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
14	L05190KA1921PLC036321	INGERSOLL-RAND (INDIA) LIMITED	Director	23/12/2005	23/12/2005	-	Active	NO
15	L29199GJ1962PLC001171	GMM PFAUDLER LIMITED	Director appointed in casual vacancy	13/10/2006	13/10/2006	-	Active	NO
16	U19113MH1995PTC179724	Bayer MaterialScience Private Limited	Director	07/12/2006	07/12/2006	-	Active	NO
17	U26960MH2011FTC216269	UNIFRAX INDIA ENERGY SAVING MATERIALS PRIVATE LIMITED	Director	15/04/2011	15/04/2011	-	Active	NO

Name :

Mr. David James Fries

Designation :

Director

Address :

2051, Ridgebury Drive, Painsville, OH – 44077, USA

Date of Birth/Age :

14.02.1959

Date of Appointment :

22.07.2004

DIN No.:

00655276

Name :

Mr. Madhukar Ramniklal kumbhani

Designation :

Managing Director

Address :

99, Dariya Mahal B 80, Nepean Sea Road, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

04.02.1950

Date of Appointment :

01.10.2006

DIN No.:

01902492

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	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Managing director	01/10/2006	01/10/2006	-	Active	NO
2	U24110GJ1991PTC015002	LUBRIZOL ADVANCED MATERIALS INDIA PRIVATE LIMITED	Director	18/08/2011	26/03/2011	-	Active	NO

Name :

Mr. Ravinder Kumar Malhotra

Designation :

Additional Director

Address :

303, A.G.C.R. Enclave, New Delhi – 110 092, India

Date of Birth/Age :

25.06.1954

Date of Appointment :

01.07.2010

DIN No.:

02024661

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	U11201GJ2006PTC048372	INDO CAT PRIVATE LIMITED	Nominee director	16/07/2010	01/12/2007	-	Active	NO
2	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Additional director	01/07/2010	01/07/2010	-	Active	NO
3	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Whole-time director	21/09/2010	05/08/2010	-	Active	NO

Name :

Mr. John Louis Petric

Designation :

Director

Address :

9277 Regency Woods, Kirtland, OH, OHIO, 44094, United States of America

Date of Birth/Age :

07.05.1951

Date of Appointment :

11.06.2009

DIN No.:

02703611

Name :

Mr. Ramaswamy Viswanathan

Designation :

Director

Address :

Flat 201, Bajaj Daimond, 2, Union Park, Pali Hills, Khar (West), Mumbai – 400 052, Maharashtra, India

Date of Birth/Age :

11.07.1953

Date of Appointment :

11.04.2011

DIN No.:

03514662

Name :

Mr. Vijay Kumar Gupta

Designation :

Alternate Director

Address :

V-33, Green Park, Delhi – 110 016, India

Date of Birth/Age :

04.06.1954

Date of Appointment :

16.03.2012

DIN No.:

03613222

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	U25190DL2010PLC205324	INDIAN SYNTHETIC RUBBER LIMITED	Director	22/08/2012	01/09/2011	-	Active	NO
2	U74999DL2009PTC193079	DELHI AVIATION FUEL FACILITY PRIVATE LIMITED	Director	21/09/2011	02/09/2011	-	Active	NO
3	U23200MH1996PLC102222	IOT INFRASTRUCTURE & ENERGY SERVICES LIMITED	Nominee director	13/09/2012	27/09/2011	-	Active	NO
4	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Alternate director	16/03/2012	16/03/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. M. k. Kanadiya
Designation :	Finance Manager
Name :	Indulekha Nitin Godse
Designation :	Secretary
Address :	JN-4/10/14, Blue Haven, Sector 10, Vashi, Navi Mumbai – 400 703, Maharashtra, India
Date of Birth/Age :	02.09.1963
Date of Appointment :	01.12.2004
PAN No.:	ACCPG6775A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 04.05.2012

Names of Shareholders	No. of Shares
The Lubrizol Corporation, U.S.A	960000
Indian Oil Corporation Limited, U.S.A	960000
TOTAL	1920000

As on 04.05.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Government Companies	50.00
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Marketing of Lubricants.
Products :	· Engine Oil – Additives · Viscosity Index- Improvers and Pour Point Depressant · Industrial Oil – Additives
Brand Names :	“ LUBRIZOL”

PRODUCTION STATUS (As on 31.12.2011)

Particulars	Licensed Capacity (MTPA)@	Installed Capacity (MTPA)@	Actual Production (MTPA)
Finished Additive packing Chemical Additives inclusive of: Metal Working Oil Additives, Anti – Oxidant, Corrosion Inhibitor, Detergent Additives, Dispersant, Additives, Extreme Pressure Additives, V.I. Improvers /Pour Point Depressants and Flow Improvers	--	60000	47142
Raw Material - Isobutylene	--	3000	--

Note:

1. @ indicates as certified by Management

2. Production figures are inclusive of production for captive consumption.

3. Since licenses are no longer required for products manufactured, the data for the same are not given.

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

· State Bank of India, Commercial Branch, Opposite Shivaji Vidyalaya, Dadar (East), Mumbai – 400 014, Maharashtra, India

· Bank of India, Mumbai, Maharashtra, India.

· ICICI Bank Limited, Mumbai, Maharashtra, India.

Facilities :

Unsecured Loan	31.12.2011 (Rs. in Millions)	31.12.2010 (Rs. in Millions)
Foreign currency loans others unsecured	0.053	0.045
Total	0.053	0.045

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Plot No. 12, Dr. Annie Besant Road, Opposite Shivsagar Estate, Worli, Mumbai-400018, Maharashtra, India
Tel. No.:	91-22-66679000
Fax No.:	91-22-66679025 / 66679100
PAN No.:	AACFD4815A
Related Parties :	· Lubrizol Corporation · Indian Oil Corporation Limited, India

CAPITAL STRUCTURE

As on 31.12.2011

Authorized Capital:

No. of Shares	Type	Value	Amount
1920000	Equity Shares	Rs. 100/- each	Rs. 192.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
1920000	Equity Shares	Rs. 100/- each	Rs. 192.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2011	31.12.2010	31.12.2009
SHAREHOLDERS FUNDS
1] Share Capital		192.000	192.000	192.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2868.350	2593.820	2457.684
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3060.350	2785.820	2649.684
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.053	0.045	0.047
TOTAL BORROWING		0.053	0.045	0.047
DEFERRED TAX LIABILITIES		34.631	45.397	66.469
TOTAL		3095.034	2831.262	2716.200
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		835.630	758.302	778.357
Capital work-in-progress		81.598	45.946	10.786
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1745.322	1508.114	1091.952
	Sundry Debtors	873.599	715.214	601.908
	Cash & Bank Balances	884.932	890.997	740.376
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	184.722	218.630	211.340
Total Current Assets		3688.575	3332.955	2645.576
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	610.333	785.758	527.271
	Other Current Liabilities	43.426	10.649	39.189
	Provisions	857.010	509.534	152.059
Total Current Liabilities		1510.769	1305.941	718.519
Net Current Assets		2177.806	2027.014	1927.057
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3095.034	2831.262	2716.200

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2011	31.12.2010	31.12.2009
	GROSS INCOME		8403.386	7286.194	5660.366
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2127.551	1894.891	1515.647
Less	FINANCIAL EXPENSES		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		2127.551	1894.891	1515.647
Less/ Add	DEPRECIATION/ AMORTISATION		93.226	87.576	92.365
	PROFIT BEFORE TAX		2034.325	1807.315	1423.282
Less	TAX		644.059	597.699	495.698
	PROFIT AFTER TAX		1390.266	1209.616	927.584
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		446.210	431.035	101.627
Less	APPROPRIATIONS
		Transfer to General Reserve	384.000	120.961	92.758
		Proposed Final Dividend	62.294	307.200	0.000
		Tax on Proposed Dividend	576.000	49.836	0.000
		Tax on Interim Dividend	93.442	102.044	73.418
		Interim Dividend	139.027	614.400	432.000
	BALANCE CARRIED TO THE B/S		1254.763	446.210	431.035
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of exports	805.975	681.878	780.016
		Commission Earnings	17.832	14.386	13.078
		Discount Received	1.009	0.675	0.000
	TOTAL EARNINGS		824.816	696.939	793.094
	IMPORTS
		Raw Materials	739.208	680.805	735.150
		Intermediates	1407.406	1094.786	557.442
		Traded	10.858	14.897	0.000
		Stores and Spares	8.742	6.374	6.182
		Capital Goods	27.594	17.786	11.531
	TOTAL IMPORTS		2193.808	1814.648	1310.305
	Earnings Per Share (Rs.)		72.41	63.01	483.11

KEY RATIOS

PARTICULARS		31.12.2011	31.12.2010	31.12.2009
Return on Total Assets (PBT/Total Assets}	(%)	44.96	43.88	53.79
Return on Investment (ROI) (PBT/Networth)		0.66	0.64	0.54
Debt Equity Ratio (Total Liability/Networth)		0.49	0.47	0.27
Current Ratio (Current Asset/Current Liability)		2.44	2.55	3.68

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.12.2011	31.12.2010	31.12.2009
	(Rs. In Millions)
Creditors due small micro enterprises	0.048	0.048	0.286
Creditors due others	610.285	785.710	526.985
TOTAL	610.333	785.758	527.271

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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)	No
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

PERFORMANCE

Performance was excellent in 2011.

SALES AND MARKETING

Domestic sales volume in 2011 is 3.46 % higher than in 2010 as the Indian economy continues to grow after the economic slow down in 2008.

Export sales volume in 2011 is 3.57 % lower than in 2010 due to reduced demand from LZ. The company expects future export sales to be lower in coming years.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U23201MH1966GOI013538
Name of the company	LUBRIZOL INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2^nd Floor, VIP House 88 – C, Old Prabhadevi Road, Mumbai – 400 025, Maharashtra, India.
Type of charge	Book Debts Movable Property
Particular of charge holder	State Bank of India, Commercial Branch, Opposite Shivaji Vidyalaya, Dadar (East), Mumbai – 400 014, Maharashtra, India. e-mail: sbi.04114@sbi.co.in
Nature of description of the instrument creating or modifying the charge	1. Agreement of hypothecation of goods and assets 2. Letter regarding the grant of individual limits within the overall limit (Collectively Constitute Single Charge)
Date of instrument Creating the charge	21.11.2008
Amount secured by the charge	Rs.120.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest – at SBAR at monthly rests Terms of Repayment The Borrower shall on demand pay the whole amount due to the Bank with interest and cost. Margin 1) Raw Materials, Stock in process, Finished Goods - 30% 2) Book Debts - 50% Extent and Operation of the charge Security to cover principal amount together with interest, costs, charges and expenses etc. Others Details of credit facilities as under: 1. Demand Cash Credit Rs.60.000 Millions DCC Book Debts(sub limit) (Rs.30.000 Millions) EPC (sub limit) (Rs.5.000 Millions) 2. Letter of credit Rs.30.000 Millions 3. Bank of Guarantee Rs.30.000 Millions Total Rs.120.000 Millions
Short particulars of the property charged	First and exclusive charge and security by way of hypothecation of present and future Stocks and Book Debts.

CONTINGENT LIABILITY (As on 31.12.2011)

(Rs. in millions)

Particulars	31.12.2011
Central excise duty, Customs duty and Sales Tax demands disputed	53.527
Income tax demands disputed	74.023
TOTAL	127.550

FIXED ASSETS:

· Lease hold land

· Factory building

· Plant machinery

· Office equipments

· Furniture and fixtures

· Motor vehicles

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 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] 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.54.85
UK Pound	1	Rs.88.40
Euro	1	Rs.72.63

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		66

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.