MIRA INFORM REPORT

Report Date :

02.02.2012

IDENTIFICATION DETAILS

Name :	TECHNICO INDUSTRIES LIMITED
Registered Office :	103, Partap Bhawan, Near Indian Express Building, Bahadur Shah Zafar Marg, New Delhi – 110 002
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.01.1985
Com. Reg. No.:	55-019823
Capital Investment / Paid-up Capital :	Rs.52.284 Millions
CIN No.: [Company Identification No.]	U74210DL1985PLC019823
TAN No.: [Tax Deduction & Collection Account No.]	DELT04224D/ DELT04473A
PAN No.: [Permanent Account No.]	AAACT4445P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Automotive Components, Window Regulators (Power and Manual), Door Hinges, Gear Shift Lever Assembly Guide Rail Assy, and other Mounting Brackets.
No. of Employees :	600 Group (Approximately)

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 1500000
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 :	103, Partap Bhawan, Near Indian Express Building, Bahadur, Shah Zafar Marg, New Delhi – 110 002, India
Tel No.:	Not Available
Fax No.:	Not Available
E-Mail :	legal@technicoindustries.com contact@technicoindustries.com
Website :	http://www.technicoindustries.com
Corporate Office 1/ Factory 1:	Plot No. 17, Sector – 3, IMT, Manesar, Gurgaon – 122 050, Haryana, India
Tel. No.:	91-124-4369350/ 4369354/ 3094214/ 4341100
Fax No.:	91-124-2291536
E-Mail :	technico@nda.vsnl.net.in marketing@techicoindustires.com
Corporate Office 2 :	407-409, 4^th Floor, Suncity Business Tower, DLF Golf Course Road, Gurgaon – 122 002, Haryana, India
Tel. No.:	91-124-4341100
Fax No.:	91-124-4341199
Factory 2:	Plot No.19-21, 36-38, Sector – 6, Industrial Estate, Bawal, Rewari – 123 501, Rewari, India
Tel No.:	91-1284-307400
Bangalore Office :	Plot No.26, 1^st Phase, Kombalgodu Industrial Area, Bengaluru- 560074, Karnataka, India
Tel. No.:	91-80-32467709

DIRECTORS

AS ON 05.11.2011

Name :

Mr. Arun Gupta

Designation :

Managing Director

Address :

B-7/2, DLF Phase – I, Gurgaon-122 002, Haryana, India

Date of Birth/Age :

19.11.1951

Date of Appointment :

11.01.1985

DIN No.:

00140977

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	U74210DL1985PLC019823	TECHNICO INDUSTRIES LIMITED	Managing director	1/12/2010	11/1/1985	-	Active	NO
2	U34300DL1988PTC030280	TECH AUTO PRIVATE LIMITED	Director	12/1/1988	12/1/1988	1/12/2007	Active	NO
3	U35122DL1989PTC035114	A R P AUTO PARTS PRIVATE LIMITED	Director	20/02/1989	20/02/1989	1/12/2007	Active	NO
4	U72300PB1985PTC006332	ARG UDYOG PRIVATE LIMITED	Director	31/03/1991	31/03/1991	-	Active	NO
5	U29242DL1974PTC207812	R N GUPTA WELL EQUIPMNTS PRIVATE LIMITED	Director	31/03/1991	31/03/1991	1/12/2007	Active	NO
6	U74899DL1992PTC048295	TECHNICO STRIPS AND TUBES PRIVATE LIMITED.	Director	9/4/1992	9/4/1992	1/12/2007	Active	NO
7	U28910PB2001PLC024790	R.N.GUPTA AND COMPANY LIMITED	Director	16/11/2001	16/11/2001	1/12/2007	Active	NO
8	U74899TN2006PTC076671	KWANG JIN INDIA AUTOSYSTEMS Private LIMITED	Director	12/1/2006	12/1/2006	9/4/2009	Active	YES
9	U34300DL2006PLC145677	ARG AUTOSYSTEMS LIMITED	Director	1/2/2006	1/2/2006	-	Active	NO
10	U35122HR2007PTC043088	KONGSBERG AUTOMOTIVE DRIVELINE SYSTEMS (INDIA) PRIVATE LIMITED	Managing director	1/1/2008	13/08/2007	21/10/2010	Active	NO
11	U35990DL2011PTC222543	TECHNICO AUTOMOTIVE PROMOTERS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO
12	U35900DL2011PTC222530	TECHNICO AUTOSYSTEMS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO

Name :

Mr. Amit Gupta

Designation :

Whole Time Director

Address :

B-7/2, DLF Phase – I, Gurgaon-122 002, Haryana, India

Date of Birth/Age :

10.12.1977

Date of Appointment :

01.02.2004

DIN No.:

00155629

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	U74210DL1985PLC019823	TECHNICO INDUSTRIES LIMITED	Whole-time director	1/9/2011	1/2/2004	-	Active	NO
2	U27107DL2006PTC151707	ATMA COATING PRIVATE LIMITED	Director	7/8/2006	7/8/2006	2/11/2010	Active	NO
3	U35122HR2007PTC043088	KONGSBERG AUTOMOTIVE DRIVELINE SYSTEMS (INDIA) PRIVATE LIMITED	Director	13/08/2007	13/08/2007	12/11/2010	Active	NO
4	U34300DL2006PLC145677	ARG AUTOSYSTEMS LIMITED	Director	30/09/2008	21/12/2007	-	Active	NO
5	U74899TN2006PTC076671	KWANG JIN INDIA AUTOSYSTEMS Private LIMITED	Additional director	21/12/2007	21/12/2007	13/04/2009	Active	YES
6	U72300PB1985PTC006332	ARG UDYOG PRIVATE LIMITED	Director	31/07/2008	30/04/2008	-	Active	NO
7	U34300HR2005PTC035682	ARG AUTO COMPONENTS PRIVATE LIMITED	Director	20/08/2009	20/08/2009	-	Active	NO
8	U35990DL2011PTC222543	TECHNICO AUTOMOTIVE PROMOTERS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO
9	U35900DL2011PTC222530	TECHNICO AUTOSYSTEMS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO

Name :

Mr. Naresh Kumar Sethi

Designation :

Director

Address :

B-9/11, DLF City, Phase – I, Gurgaon-122 002, Haryana, India

Date of Birth/Age :

28.10.1947

Date of Appointment :

31.03.2008

DIN No.:

00202498

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	U34300HR1997PLC035283	FCC RICO LIMITED	Director	5/8/1998	5/8/1998	-	Active	NO
2	U74210DL1985PLC019823	TECHNICO INDUSTRIES LIMITED	Director	29/09/2008	6/6/2000	-	Active	NO
3	U34300DL1988PTC030280	TECH AUTO PRIVATE LIMITED	Director	1/10/2001	1/10/2001	1/12/2007	Active	NO
4	U28910PB2001PLC024790	R.N.GUPTA AND COMPANY LIMITED	Director	15/03/2004	15/03/2004	1/12/2007	Active	NO
5	U34200HR2007PLC037021	RICO JINFEI WHEELS LIMITED	Director	16/07/2007	16/07/2007	-	Active	NO
6	U74900HR2008PTC037519	CONTINENTAL RICO HYDRAULIC BRAKES INDIA PRIVATE LIMITED	Nominee director	3/1/2008	3/1/2008	-	Active	NO
7	U34300HR2008PLC037956	RAA AUTOCOM LIMITED	Director	24/09/2011	1/4/2009	-	Active	NO
8	U35990HR2009PLC039865	KAPBROS ENGINEERING INDUSTRIES LIMITED	Director	30/09/2010	7/1/2010	-	Active	NO
9	U28112HR2010PLC039941	AAN ENGINEERING INDUSTRIES LIMITED	Director	9/7/2011	14/01/2010	-	Active	NO
10	U29130HR2010PLC039975	KRP AUTO INDUSTRIES LIMITED	Director	15/01/2010	15/01/2010	12/12/2011	Active	NO
11	U29110HR2008PTC037708	MAGNA RICO POWERTRAIN PRIVATE LIMITED	Nominee director	29/09/2011	29/09/2011	-	Active	NO

Name :

Mr. Deepak Mohla

Designation :

Director

Address :

E-12, Saket, New Delhi-110 017, India

Date of Birth/Age :

07.10.1950

Date of Appointment :

05.03.2008

DIN No.:

00231989

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74140DL1999PTC101714	INSPIRE ONE CONSULTANTS PRIVATE LIMITED	Managing director	31/03/2011	27/09/1999	Active	NO
2	U74140DL2006PTC145629	TACK CONSULTANTS PRIVATE LIMITED	Director	31/01/2006	31/01/2006	Active	NO
3	U93010DL2002PTC117667	LIQVID ELEARNING SERVICES PRIVATE LIMITED	Nominee director	20/04/2006	20/04/2006	Active	NO
4	U74210DL1985PLC019823	TECHNICO INDUSTRIES LIMITED	Director	29/09/2008	5/3/2008	Active	NO

Name :

Mr. Deepak Sood

Designation :

Director

Address :

Carlton Grove, Near Khadi Board Building, Chaura Maidan, Shimla – 171004, Himachal Pradesh. India

Date of Birth/Age :

09.02.1952

Date of Appointment :

01.07.2008

DIN No.:

00399569

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	U65921KA1982PLC004713	SHAAN FINANCE LIMITED	Director	1/6/1988	1/6/1988	26/09/2009	Active	NO
2	U34300DL1988PTC030280	TECH AUTO PRIVATE LIMITED	Director	25/03/1999	25/03/1999	1/12/2007	Active	NO
3	U74210DL1985PLC019823	TECHNICO INDUSTRIES LIMITED	Director	29/09/2008	30/04/1999	-	Active	NO
4	U28910PB2001PLC024790	R.N.GUPTA AND COMPANY LIMITED	Director	15/03/2004	15/03/2004	1/12/2007	Active	NO

Name :

Mr. Ashok Kumar Goyal

Designation :

Director

Address :

C – 19, Sector 33, Gautam Budh Nagar, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

22.06.1957

Date of Appointment :

29.09.2009

DIN No.:

00593505

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	U21012DL1988PLC032724	GLOBAL ADVISORS LIMITED	Director	7/1/1991	7/1/1991	-	Active	NO
2	U74110DL2006PTC146659	GAL KNOWLEDGE ENABLED SERVICES PRIVATE LIMITED	Director	21/02/2006	21/02/2006	-	Active	NO
3	L31300AP1985PLC005844	XL ENERGY LIMITED	Director	16/12/2006	1/3/2006	-	Active	NO
4	U74899DL1980PTC011082	SPICE TELEVENTURES PRIVATE LIMITED	Director	30/09/2009	30/08/2006	5/5/2010	Amalgamated	NO
5	L72900UP1986PLC008448	S MOBILITY LIMITED	Director	27/09/2007	30/08/2006	30/09/2008	Active	NO
6	U72900DL2000PLC104989	SPICE DIGITAL LIMITED	Director	30/08/2006	30/08/2006	30/09/2007	Active	NO
7	U45202HP1988PLC008020	SPICE RETAIL LIMITED	Director	30/08/2006	30/08/2006	16/09/2008	Active	NO
8	U72300DL2006PTC151960	MOBISOC TECHNOLOGY PRIVATE LIMITED	Additional director	11/4/2008	11/4/2008	27/12/2008	Active	NO
9	U51109DL2007PTC157340	SUNDRAM TECHNOLOGIES PRIVATE LIMITED	Director	28/05/2008	28/05/2008	-	Active	NO
10	U93090UP2007PTC033308	SPICE INVESTMENTS AND FINANCE ADVISORS PRIVATE LIMITED	Director	29/08/2008	18/08/2008	10/8/2009	Active	NO
11	U72900HP2008PTC030973	ADDMORE SERVICES PRIVATE LIMITED	Director	8/10/2008	8/10/2008	2/3/2010	Active	NO
12	L74899DL1985PLC019941	SPICEBULLS INVESTMENTS LIMITED	Director	30/09/2010	31/10/2008	31/03/2011	Active	NO
13	L72501PB1986PLC006743	MBM LIMITED	Director	30/08/2010	3/11/2008	31/03/2011	Active	NO
14	U74210DL1985PLC019823	TECHNICO INDUSTRIES LIMITED	Director	29/09/2009	15/06/2009	-	Active	NO
15	U72100DL1996PLC080315	BHARAT IT SERVICES LIMITED	Director	8/4/2010	15/12/2009	31/03/2011	Active	NO
16	U64202DL2004PLC127093	SPICE BPO SERVICES LIMITED	Director	30/09/2010	21/12/2009	1/4/2011	Active	NO
17	U74120DL2010PTC200060	SPICE INTERNET SERVICE PROVIDER PRIVATE LIMITED	Director	16/03/2010	16/03/2010	7/10/2010	Active	NO
18	L99999MH1986PLC039660	WALL STREET FINANCE LIMITED	Director	24/09/2010	6/5/2010	31/03/2011	Active	NO
19	U51909DL1998PTC094702	I-NET PRIVATE LIMITED	Additional director	6/1/2012	6/1/2012	-	Active	NO

Name :

Mr. Yasuhisa Tsutsumi

Designation :

Director

Address :

1-21, Kuriana, Hirao cho, Totokawa, Aichi – 4420863, Japan

Date of Birth/Age :

03.03.1957

Date of Appointment :

29.09.2009

DIN No.:

02785724

KEY EXECUTIVES

Name :	Mr. Mritunjay Kumar Dev
Designation :	Secretary
Address :	H. N. 156, Ward No.2, Mehrauli – 110030, Delhi, India
Date of Birth/Age :	14.01.1985
Date of Appointment :	17.05.2011
PAN No.:	ANNPD9820D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 05.11.2011

Names of Shareholders	No. of Shares
Arun Gupta	3297905
Arun Gupta HUF	200750
Amit Gupta	1719028
Rekha Gupta	1439960
Navita Gupta	1439957
ARG Udyog Private Limited, India	2697875
Aditi Garg	275
Achin Garg	275
Shiroki Corporation, Japan	4585000
ARG Auto Components Private Limited, India	790000
ARG Autosystems Limited, India	580000
Total	16751025

AS ON 30.09.2011

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	27.37
Bodies corporate	24.28
Directors or relatives of directors	48.35
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Automotive Components, Window Regulators (Power and Manual), Door Hinges, Gear Shift Lever Assembly Guide Rail Assy, and other Mounting Brackets.

Products :

Product Description	ITC Code
Automotive Components (For 4 Wheelers)	870800
Automotive Components (For 2 Wheelers)	871400

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity
Automobiles Parts	MT	NA	36000

NOTE: Installed Capacity being a technical matter, therefore, the certificate of the management is relied upon.

GENERAL INFORMATION

Customers :

· CHRYSLER

· Toyota

· Renault

· Maruti Suzuki

· Hundai

· Mahindra Renault

· TATa Daewoo

· Sonalika

· Indian

· GM

· Swaraj Mazda

No. of Employees :

600 Group (Approximately)

Bankers :

· Indian Bank,

New Delhi Main Branch, G-41, Connaught Circus, New Delhi – 110001 India

· Indian Bank,

1601, Kalsi Nagar, Ludhiana-141 003, Punjab, India

· Corporation Bank,

Feroze Gandhi Market, Ludhiana, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Term Loan Borrowings
From Banks
Indian Bank T L A/C No.712345867	7.062	11.040
Indian Bank T L A/C No.712344783	1.853	4.377
Indian Bank T L A/C No.712345391	3.760	8.751
Indian Bank T L A/C No.712344193	0.000	2.018
Indian Bank T L A/C No.734282231	7.446	10.922
Indian Bank T L A/C No.764552384	45.668	59.433
Indian Bank T L A/C No.794667220	449.508	287.468
Indian Bank T L A/C No.794932336	0.000	11.559
Indian Bank T L A/C No.816020340	1.571	7.882
Indian Bank T L A/C No.816027415	19.436	26.284
From Others
Sales Tax Deferment	5.694	5.694
Car Loans	18.824	11.743
Business Loans	52.916	15.044
Working Capital Borrowings
Indian Bank Manesar	54.552	46.308
Indian Bank Ludhiana	40.340	60.600
Total	708.630	569.123

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors	10.649	5.519
From Shareholders	54.712	6.070
From Others	26.901	0.000
Tooling Advance
Maruti Suzuki India Limited	80.416	28.815
Mahindra and Mahindra Limited	1.125	0.750
Tata Motors Limited	11.535	5.767
Toyata Kirloskar Motors Private Limited	12.865	0.000
Nissan Motors India Private Limited	12.862	7.875
Total	211.065	54.796

Banking Relations :	--
Auditors :
Name :	Gupta Sharma and Associates Chartered Accountants
Address :	Opposite Old D.M.C., Civil Lines, Ludhiana – 141 001, Punjab, India
Associates:	· ARG Auto Components Private Limited (Formerly known as Victory Auto Components Private Limited) · ARG Autosystems Limited (Formerly known as Kwang Jin Technico Engineering Limited)
Joint Venture :	· Technico Konsberg Automotive India Limited

CAPITAL STRUCTURE

AS ON 05.11.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16751025	Equity Shares	Rs.10/- each	Rs.167.510 Millions

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5228410	Equity Shares	Rs.10/- each	Rs.52.284 Millions

Of the above shares:

1) 96600 Equity Shares allotted as fully paid up by way of bonus shares during the year 1991-92

2) 193200 Equity Shares allotted as fully paid up by way of bonus shares during the year 1992-93

3) 386400 Equity Shares allotted as fully paid up by way of bonus shares during the year 1993-94

4) 772800 Equity Shares allotted as fully paid up by way of bonus shares during the year 1994-95

5) 1159200 Equity Shares allotted as fully paid up by way of bonus shares during the year 1998-99

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		52.284	37.172	37.172
2] Share Application Money		0.250	135.800	12.500
3] Reserves & Surplus		331.356	138.005	98.045
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		383.890	310.977	147.717
LOAN FUNDS
1] Secured Loans		708.630	569.123	188.845
2] Unsecured Loans		211.065	54.796	12.255
TOTAL BORROWING		919.695	623.919	201.100
DEFERRED TAX LIABILITIES		88.703	47.373	26.473
TOTAL		1392.288	982.269	375.290
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1371.359	843.985	264.204
Capital work-in-progress		105.646	81.724	0.000
INVESTMENT		0.020	0.020	2.020
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	122.374	113.923	54.229
	Sundry Debtors	118.046	99.217	58.976
	Cash & Bank Balances	12.255	41.218	29.593
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	69.433	51.462	98.007
Total Current Assets		322.108	305.820	240.805
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	347.072	159.939	88.336
	Other Current Liabilities	53.926	78.071	26.824
	Provisions	5.847	11.270	16.579
Total Current Liabilities		406.845	249.280	131.739
Net Current Assets		(84.737)	56.540	109.066
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1392.288	982.269	375.290

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	915.907	861.581	813.262
		Other Income	13.817	5.744	3.133
		TOTAL (A)	929.724	867.325	816.395
Less	EXPENSES
		Raw Material Consumed	611.648	552.981	542.731
		Labour Charges	76.057	68.722	47.075
		Conversion Charges	29.280	20.570	16.108
		Service Tax	9.614	4.206	0.857
		Excise Duty paid	3.317	24.368	31.804
		Vat Paid	17.316	27.095	27.509
		Establishment Expenses	51.555	34.738	22.533
		Office and Administrative Expenses	19.068	20.832	21.658
		Repair and Maintenance Expenses	5.160	3.568	2.885
		Selling and Distribution Expenses	14.240	12.412	17.164
		Loss on sale of fixed assets	0.139	0.838	0.000
		Increase/Decrease in Stock	(42.143)	(38.510)	1.332
		TOTAL (B)	795.251	731.820	731.656
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		134.473	135.505	84.739
Less	FINANCIAL EXPENSES (D)		30.273	34.061	17.373
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		104.200	101.444	67.366
Less/ Add	DEPRECIATION/ AMORTISATION (F)		46.805	29.074	15.728
	PROFIT BEFORE TAX (E-F) (G)		57.395	72.370	51.638
Less	TAX (H)		41.899	32.171	20.493
	PROFIT AFTER TAX (G-H) (I)		15.496	40.199	31.145
	Dividend and Dividend Tax		0.000	0.000	(14.209)
	Excess (Short) Provision of Earlier Year w/o		(0.077)	(0.239)
	MAT Credit entitlement of financial year 2008-09		4.143	0.000
	Net Profit Transferred to General Reserve		19.562	39.960	16.936
	EXPORT VALUE		1.410	2.930	NA
	IMPORTS VALUE		NA	79.915	NA
	Earnings Per Share (Rs.)
	Basic and Diluted EPS Before Deferred Tax		12.04	16.37	NA
	Basic and Diluted EPS After Deferred Tax		3.88	10.75	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.67	4.63	3.81
Net Profit Margin (PBT/Sales)	(%)	6.27	8.40	6.33
Return on Total Assets (PBT/Total Assets}	(%)	3.39	6.29	10.23
Return on Investment (ROI) (PBT/Networth)		0.15	0.23	0.35
Debt Equity Ratio (Total Liability/Networth)		3.46	2.81	2.25
Current Ratio (Current Asset/Current Liability)		0.79	1.23	1.83

LOCAL AGENCY FURTHER INFORMATION

PERFORMANCE:

During the year 2009-10 the Company performed well and managed to record a turnover of Rs.915.900 millions as compared to Rs.861.580 millions of the last year thereby resulting in an increase of approximately 6.30%. Due to increase in operational expenditure EBIDTA of the Company has marginally reduced to Rs.134.470 millions from previous year’s EBIDTA of Rs.135.500 millions. PAT has also decreased to Rs.15.500 millions from Rs.40.200 millions of previous year thereby resulting in decrease of approx. 61.44% over the previous year. The Directors are of the opinion that the capital expenditure made in this financial year are bound to earn profit in the coming financial years and thereby profitability of the Company will increase significantly.

OPERATIONS AND FUTURE PROSPECTS:

During the year 2009-10 Maruti Suzuki India Limited, major customer of the Company, contributed approx. 76.36% to the turnover of the Company. Maruti Suzuki recorded a 30% increase in the number of vehicles manufactured by it during the year. As a result, operations of the Company remained smooth despite reduction in sales to other customers of the Company. During the year, Company completed the development of Seat Slider and Seat Recliner for new Wagon R of Maruti Suzuki and started supplies from the month of March, 2010. The Company is expecting to achieve an additional turnover of Rs.300.000 millions from the business of Seat Slider and Seat Recliner in the financial year 20 10-2011. The Company is expecting an aggregate turnover of Rs.1180.000 millions from sales to Maruti Suzuki for the financial year 2010-11, a 70% increase over the last year. This increase will be mainly on account of increase in overall turnover of Maruti Suzuki and start of new business of seat slider by the Company.

During the year, the company held discussion with Maruti Suzuki for getting new business of supplying Hinges and Window Lifters for its New Alto (Model-T) and Window Lifters and Hingess for New Swift (Model YP-8). With the launch of these new products the Company is estimating additional revenue of Rs.300 million by the financial year 2011-12.

During the year the Company was engaged in development of the auto components for Toyota Kirloskar Motors Limited for its small size cars segment in India. The Company has also established a new plant at Bangalore for assembly of Window Lifter and Hinges and supplying them to Toyota Kirloskar Motors Limited The Company is expecting to commence business with Toyota by the end of year 20i0 which would progressively generate an additional revenue of Rs.30 million annually.

During the year the Company has been engaged in development of Hinges for Nissan for its small size cars segment in India. The Company is expecting additional revenue of over Rs.200.000 millions from supply of Hinges to Nissan by the financial year 2010-11 which will progressively grow to Rs.400.000 Millions by 2011-12. The Company has completed the pre-supply formalities and expecting to commence supplies very soon. The Company is also in discussion with Nissan for export of automotive components for its European and Mexican market. These discussions are expected to be finalized in favour of the company.

The Company is also focusing on Tata Motors as its prospective customer for Hinges from the financial year 2010-11. Tata Motors has huge potential in the passenger segment and commercial vehicle segment in India.

INDUSTRY SCENARIO

Indian auto component industry has seen major growth with the arrival of world vehicle manufacturers from Japan, Korea, US and Europe. Today, India is emerging as one of the key auto components center in Asia and is expected to play a significant role in the global automotive supply chain in the near future.

Considering the growth of the market in future the Company has endeavored to maximize the expansion of the operations of the Company.

Indian auto component industry has been continuously growing due to increase in industrial and agricultural output and per capital income of India citizen. Indian Government has liberalized the financial scheme for automotive components market. Government’s policies have also been made favourable to boost up the production of automotive components.

INSTALLATION OF PLATING, ETP AND SEWAGE TREATMENT PLANT:

During the year, the Company has installed an Automatic Trivalent Zinc Plating Plant along with Effluent Treatment Plant at its manufacturing unit situated at Bawal. Prior to this plating plant the Company was getting the plating work done through outside source which was a costly exercise. The Company is now able to do the same in house which shall reduce the cost of plating significantly during the year. With the increase in production as projected for the year 2011-2012, the capacity of plating plant will be optimally utilized which will result in more cost savings to the Company and improvement in its bottom line. With the installation of Effluent Treatment Plant the Company shall be able to recycle the discharged water for further use within the plant.

For better protection of environment and as a pollution control measure, the Company has also installed a Sewage Treatment Plant at Bawal for removing contaminants from wastewater and domestic sewage. It includes physical, chemical, and biological processes to remove physical, chemical and biological contaminants. its objective is to produce a waste stream (or treated effluent) and a solid waste or sludge suitable for discharge or reuse back into the environment.

INSTALLATION OF FINE BLANKING PRESS:

During the year the Company has installed a Fine Blanking Press. Prior to this the Company was getting fine blanking done from outside sources. Fine Blanking in- house installation will result in saving of over 10.000 Millions per year. In addition to this the Company can utilize around 40% of the capacity of the machine for other customers resulting in addition to bottom-line.

INCREASE IN LIMIT OF CREDIT FACILITIES BY INDIAN BANK:

During the year, the Company had submitted a proposal for increase in limits of various credit facilities availed from Indian Bank and grant of a fresh term loan. The said proposal was considered and approved by the Indian Bank. The Bank has increased the limits of WCDL/ OCC/ LC and other credit facilities and sanctioned a fresh term loan of Rs.227.500 millions. The said term loan is yet to be disbursed by the Bank.

NEW ASSEMBLING UNIT AT BANGALORE:

The Company has taken on lease a property in l3angalore and has set up a unit for assembly of Window Lifters and Door Hinges for selling them to Toyota Kirloskar Motors Limited These products will be supplied to Toyota Kirloskar at its plant situated at Bangalore. The Bangalore unit will be fully operational by the end of year 2010 and will progressively fetch an additional revenue of Rs.200.000 millions annually.

ALLOTMENT OF LAND AT BANGALORE:

During the year, the Company was allotted three acres of land at Harohalli 2^nd Phase Industrial Area, Bangalore for setting up a unit for manufacture of automotive components. The Company is planning to set up the assembly unit on this land after taking possession of the same from Karnataka Industrial Areas Development Board.

CONTINGENT LIABILITIES:

Particulars	31.03.2010 (Rs. in millions)
1. L/C opened not matured	38.042
2. Bank Guarantee	16.450
3. Sales Tax	1.840
4. EPCG Obligation	86.233

FORM 8:

Corporate identity number of the company	U74210DL1985PLC019823
Name of the company	TECHNICO INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	103, Partap Bhawan, Near Indian Express Building, Bahadur Shah Zafar Marg, New Delhi – 110002, India E-Mail: legal@technicoindustries.com
This form is for	Creation of charge
Type of charge	Immovable Property Any interests in Immovable Property Movable Property
Particular of charge holder	Indian Bank, New Delhi Main Branch, G – 41, Connaught circus, New Delhi – 110001, India E-Mail: ibnewdelhimain@vsnl.in
Nature of description of the instrument creating or modifying the charge	Medium Term Loan Agreement dated 26.08.2011 Agreement for Hypothecation of movables 26.08.2011 Agreement of Irrevocable Letter of Credit Dated 26.08.2011
Date of instrument Creating the charge	26.08.2011
Amount secured by the charge	Rs.235.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: For Medium Term Loan : BR +TP (1.50) + 1.25% For sub limit of MTL (Imp. LC/ DP/ DA 90 days): commission @ 50% of Applicable charges Terms of Repayment: Repayable in 84 equal monthly installments after holiday period of 18 months, First installment to commence from January, 2013. Interest charged at monthly rests to be served as and when charged. Margin: for MTL : 25% for Sub Limit of MTL : 25% Extent and Operation of the charge: On securities as mentioned in sanction letter no. ND/CR/2011 dated 17.08.2011
Short particulars of the property charged	Hypothecation of existing Plant and Machinery and other fixed assets and to be acquired for the proposed project. EM of factory land and building at Plot No. 19-21, 36-38 at Bawal, Sector 6, Industrial Estate, Bawal, Rewari District (Haryana) EM of factory land at Plot No. 192-C, Industrial Estate , Bawal, Rewari District (Haryana) EM of factory land and building at Plot No. 17, Sector 3, IMT Manesar, Gurgaon (Haryana)

Name of the company	Technico Industries Limited
Presented By	Mr. Ajay Gupta, Director
1) Date and description of instrument creating the change	Agreement for Term Loans, Common Deed of Hypothecation of movable / Assets/ debts and Unattested deed of hypothecation of Movables and Agreement fro Term Loans under IDBI/ NABARD/ SIDBI Loans Refinance Scheme all dated 29.03.2004 registered on 26.04.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs.18.666 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Secured by first and exclusive charge on entire Current and Fixed Assets of the company both existing and future and installed/to be installed and on all immovable properties of the Company including Land and Building situated At E133-137, Phase IV Focal Point Ludhiana measuring 5000 sq. ft yards and Land and Building Situated at Plot No. 17-D Sector 3 IMT. Manesar admeasuring 4075 sq. ft Mtrs. Personal Guarantee of all the Promoter Directors of the Company namely Mr. Avinash Gupta, Mr. Anil Gupta and Mr. Amit Gupta and Mr. Ajay Gupta
4) Gist of the terms and conditions and extent and operation of the charge.	Rate of Interest – 1% p.a. over CBMTLR and monthly interest. To be paid as and when debited Margin: 28.50% Period – 1 and ½ Years Mode of Repayment – 9 Quarterly installments of Rs.2.074 Millions each will no holiday period. Extent of Operation – 100%
5) Name and Address and description of the person entitled to the charge.	Corporation Bank – Feroze Gandhi Market, Ludhiana
6) Date and brief description of instrument modifying the charge	Memorandum of Deposit of Title deeds dated 14.03.2005
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	1. Equitable Mortgage of Plot and building situated at 17 Sector 3, IMT Manster, Haryana measuring 4050 sq. mtrs 2. Equitable Mortgage of Property situated at E133-E137 phase IV Focal Point Ludhiana measuring 1000 sq. yards each

FIXED ASSETS:

· Air Conditioner

· Building

· Car

· Computers

· Cycle

· Delivery Van

· Electric Fittings

· Factory Land

· Land at Bawal

· Furniture and Fixture

· Material Handling Equipment

· Office Equipment

· Plant and Machinery

· Power Equipment

· Scooter

· Standard Room Equipment

· Technical Know How

· Effluent Treatment Plant

· Tools and Dies

· Truck

· Land at Bangalore

· Design Drawing and Development

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.49.68
UK Pound	1	Rs.78.17
Euro	1	Rs.65.52

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	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	NO
--AFFILIATION	YES/NO	YES
--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.