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1. Summary Information

		Country	India
Company Name	SURYA EXIM LIMITED	Principal Name 1	Mr. Bhalesh Rasiklal Mehta
Status	Satisfactory	Principal Name 2	Mrs. Archana Jagdish Saboo
		Registration #	04-12428
Street Address	3040, Jash Textile and Yarn Market, Ring Road, Surat-395002, Gujarat
Established Date	28.06.1989	SIC Code	--
Telephone#	91-261-2325005 / 2328839 / 23255008	Business Style 1	Marketing
Fax #	91-261-2328842 / 2328858	Business Style 2	Sales
Homepage	http://www.surya-exim.com	Product Name 1	Non Cooking Coal
# of employees	NA	Product Name 2	Polyester
Paid up capital	Rs. 55,000,000 /-	Product Name 3	PVC Resin
Shareholders	Foreign holdings– 9% Bodies corporate – 44% Directors or relatives of directors – 43% Other top fifty shareholders – 4%	Banking	· Canara Bank, Korsafil Main Road Branch, Surat-395003, Gujarat, India
Public Limited Corp.	NO	Business Period	23 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (46)
Related Company
Relation	Country	Company Name	C.E.O
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	903,428,000	Current Liabilities	1030,697,000
Inventories	426,300,000	Long-term Liabilities	144,490,000
Fixed Assets	54,456,000	Other Liabilities	0.000
Deferred Assets	646,000	Total Liabilities	1,175,187,000
Invest& other Assets	2,508,000	Retained Earnings	157,151,000
		Net Worth	212,151,000
Total Assets	1,387,338,000	Total Liab. & Equity	1,387.338,000
Total Assets (Previous Year)	920,496,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	6152,313,000	Net Profit	46,869,000
Sales(Previous yr)	2020,701,000	Net Profit(Prev.yr)	21,045,000

MIRA INFORM REPORT

Report Date :

20.02.2012

IDENTIFICATION DETAILS

Name :	SURYA EXIM LIMITED
Formerly Known As :	PRESTIGE MARKETING PRIVATE LIMITED
Registered Office :	3040, Jash Textile and Yarn Market, Ring Road, Surat-395002, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.06.1989
Com. Reg. No.:	04-12428
Capital Investment/ Paid-up Capital:	Rs. 55.000 millions
CIN No.: [Company Identification No.]	U51100GJ1989PLC012428
IEC No.:	5299004150
TAN No.: [Tax Deduction & Collection Account No.]	SRTS05536G
PAN No.: [Permanent Account No.]	AABCP4158J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company is engaged in trading of Non Coking Steam Coal, Paper Board and Polyester Yarn.
No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 850000
Status :	Satisfactory
Payment Behaviour :	Slow But 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 slow but correct 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 :	3040, Jash Textile and Yarn Market, Ring Road, Surat-395002, Gujarat, India
Tel. No.:	91-261-2325005 / 2328839 / 23255008 / 2326040 / 4083101 /4083102 / 4083103
Fax No.:	91-261-2328842 / 2328858 / 4083120
E-Mail :	saboo-ad1@sancharnet.in jpsabooandco@gmail.com jpsaboo@hotmail.com info@surya-exim.com
Website :	http://www.surya-exim.com
Location :	Owned
Godown 1 :	Survery No. 51, Moje Gravier, Taluka-Choryast-Magdalla, Surat
Tel. No.:	91-261-6598512
Fax No.:	91-261-2328842
Area :	106000 sq. ft. Approximately
Location :	Owned
Godown 2 :	Plot No.12, Block No.165, Road No.3, Royal Township, Saroli District- Surat, Gujarat India
Godown 3 :	Prahash Estate, Opposite Hojiwala Estate, Mojevanz Road, Sachin Palsana Road, Surat, Gujarat, India
Branches :	Located At · Silvassa · Daman · Kolkata · Nagpur · Ahmedabad

DIRECTORS

(As on 31.03.2011)

Name :

Mrs. Archana Jagdish Saboo

Designation :

Director

Address :

3/A, Nidhiwan Estate, B/H Gokul Row House, Umra, Surat, Gujarat

Date of Birth/Age :

41 Years

Qualification :

B. Com

Experience :

11 Years

Date of Appointment :

07.08.2000

DIN No :

01711391

Other Directorships :

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	U51101RJ1992PTC006610	SASHANK COMMERCIAL PRIVATE LIMITED	Director	17-01-96	17-01-96	18-02-08	Active	NO
2	U65910GJ1993PTC019582	SHREE JPSCO CONSULTANTS PVT. LTD.	Director	28-08-96	28-08-96	-	Active	NO
3	U17297GJ1991PTC016026	VIVEK SYNTHETICS PRIVATE LIMITED	Director	02-06-97	02-06-97	18-06-08	Active	NO
4	U51100GJ1989PLC012428	SURYA EXIM LIMITED	Director	07-08-00	07-08-00	-	Active	NO

Name :

Mr. Bhalesh Rasiklal Mehta

Designation :

Director

Address :

8/B, Chandan Park Society, Near Sardar Bridge Adajan, Surat, Gujarat

Date of Birth/Age :

45 Years

Qualification :

B.Com

Experience :

19 Years

Date of Appointment :

05.10.2003

DIN No :

00004707

Other Directorships :

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	U17119GJ1977PTC003021	RACHNA ART PRINTS PRIVATE LIMITED	Director	07-02-96	07-02-96	-	Active	NO
2	U17110GJ1991PTC014851	SHREE SOMNATH FABRICS PVT LTD	Director	01-04-00	01-04-00	-	Active	NO
3	U17110GJ1991PTC016017	DIGANT SYNTHETICS PRIVATE LIMITED	Director	05-10-03	05-10-03	-	Active	NO
4	U51100GJ1989PLC012428	SURYA EXIM LIMITED	Director	05-10-03	05-10-03	-	Active	NO

Name :

Mr. Jagdish Prasad Sadoo

Designation :

Director

Date of Birth/Age :

45 Years

Address :

3/A, Nidhiwan Estate, B/H Gokul Row House, Umra, Surat, Gujarat

Qualification :

Chartered Accountants

Date of Appointment :

01.07.1989

DIN No :

01711507

Other Directorships :

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	U51100GJ1989PLC012428	SURYA EXIM LIMITED	Director	27-12-90	27-12-90	-	Active	NO
2	U65910GJ1993PTC019582	SHREE JPSCO CONSULTANTS PVT. LTD.	Director	01-06-93	01-06-93	-	Active	NO
3	U51101RJ1992PTC006608	URJITA COMMERCE PRIVATE LIMITED	Director	18-02-01	18-02-01	29-04-09	Active	NO
4	U51101RJ1992PTC006606	PARITOSH COMMERCE PVT. LTD.	Director	18-02-01	18-02-01	29-04-09	Active	NO
5	U51101RJ1992PTC006610	SASHANK COMMERCIAL PRIVATE LIMITED	Director	20-07-02	20-07-02	18-02-08	Active	NO
6	U17110GJ1991PTC014851	SHREE SOMNATH FABRICS PVT LTD	Director	10-10-02	10-10-02	-	Active	NO
7	U17297GJ1991PTC016026	VIVEK SYNTHETICS PRIVATE LIMITED	Director	15-03-04	15-03-04	18-06-08	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 27.09.2011)

Names of Shareholders	No. of Shares
J.P. Saboo	1177695
Archana Saboo	971600
Jagdish Prasad Sabo HUF	120000
Typhoon Financial Service Limited, India	970000
Trimex Fiscal Service Private Limited, India	70000
Arrow Syntex Private Limited, India	80000
Shree JPSCO Consultant Private Limited, India	696000
Greenchip Trexim Private Limited, India	20000
Qaiser Perwez	30000
Vivek Synthetics Private Limited, India	93000
Dilip Dalpatlal Shah	10000
Aarushi Maheshwari	60000
Master Suryansh Saboo	250000
Rajesh Bothra	500000
Digant Synthetics Private Limited, India	126000
Shree Somnath Fabrics Private Limited, India	138305

(AS ON 27.09.2011)

Equity Break-Up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	9.00
Bodies corporate	44.00
Directors or relatives of directors	43.00
Other top fifty shareholders	4.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in trading of Non Coking Steam Coal, Paper Board and Polyester Yarn.

Products :

Product Description	ITC Number of Product
Non Cooking Steam Oil	27011920
PVC Resin	3904
Poly Film	3920
Yarn	5402

GENERAL INFORMATION

No of Employees :

Not Available

Bankers :

· State Bank of Maysore, 62 A, Uppal Towers, Near Vaishali Cinema Varacha Road, Surat, Gujarat.

· Canara Bank, Korsafil Main Road Branch, Surat-395003, Gujarat, India

· Canara Bank, K.M. Road Branch, Annapurna Building, Opposite Air India, Kotsafil Main Road, Surat-395002, Gujarat, India

· ICICI Bank Limited, CIBD Branch , Athwalines, Surat – 395007, Gujarat, India

· Bank of Baroda, International Business branch, Kanaknidhi complex, Opposite Gandhi Smruti Bhavan, Nanpura Surat – 395001, Gujarat , India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working Capital Loans Secured	42.738	30.304
Hire purchase installment payable secured	22.563	14.500
Total	65.301	44.804
Unsecured Loan
Other Debt Unsecured	79.189	100.873
Total	79.189	100.873

Banking Relations :	--
Auditors :
Name 1:	Khadaria and Associates Chartered Accountants
Address :	607, Ajanta Shopping Centre, Ring Road, Surat- 395002, Gujarat , India
Tel. No.:	91-261-2344116
E-Mail :	khadaria@vsnl.net
PAN No :	AAFFK4707Q
Name 2:	Sutarwala and Associates Chartered Accountants
Address :	2^nd Floor, above Lg Electronics, Opposite, Saher Bakery, Makai Pool, Nanpura, Surat, Gujarat, India
Tel. No.:	91-261-6454421
E-Mail :	mnsuratarwala@indiatimes.com
PAN No :	APRPS1314F

CAPITAL STRUCTURE

(As On 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
7,500,000	Equity Shares	Rs.10/- each	Rs.75.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,500,000	Equity Shares	Rs.10/- each	Rs.55.000 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		55.000	55.000	50.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		157.151	60.283	39.246
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		212.151	115.283	89.246
LOAN FUNDS
1] Secured Loans		65.301	44.804	28.503
2] Unsecured Loans		79.189	100.873	127.508
TOTAL BORROWING		144.490	145.677	156.011
DEFERRED TAX LIABILITIES		0.000	0.125	0.116
SECURITY PREMIUM		0.000	50.000	0.000
TOTAL		356.641	311.085	245.373
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		54.455	37.601	23.995
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		2.508	0.508	0.508
DEFERREX TAX ASSETS		0.646	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	426.300	371.940	208.107
	Sundry Debtors	546.017	323.083	313.501
	Cash & Bank Balances	304.101	128.308	149.290
	Other Current Assets	0.751	0.000	0.000
	Loans & Advances	52.558	59.056	67.892
Total Current Assets		1329.727	882.387	738.790
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	28.299	34.411	16.640
	Other Current Liabilities	989.361	564.047	495.818
	Provisions	13.037	10.953	5.462
Total Current Liabilities		1030.697	609.411	517.920
Net Current Assets		299.030	272.976	220.870
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		356.641	311.085	245.373

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		2020.700	1751.414
		Other Income		0.005	0.181
		TOTAL (A)	6152.312	2020.705	1751.595
Less	EXPENSES
		Consumption Materials Changes inventories	5183.291	1724.463	1578.009
		Manufacturing service costs	670.241	163.925	46.221
		Office expenses			11.059
		Administrative Selling other expenses	202.239	74.360	60.272
		TOTAL (B)	6055.771	1962.748	1695.561
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		96.541	57.957	56.034
Less	FINANCIAL EXPENSES (D)		7.854	21.150	36.349
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		88.687	36.807	19.685
Less/ Add	DEPRECIATION/ AMORTISATION (F)		18.692	4.809	6.406
	PROFIT BEFORE TAX (E-F) (G)		69.995	31.998	13.279
Less	TAX (H)		23.126	10.953	5.462
	PROFIT AFTER TAX (G-H) (I)		46.869	21.045	7.817
Add/ Less	Prior Period Items		0.000	0.000	(0.015)
Add/ Less	Deferred Tax Adjustment		0.000	(0.009)	0.556
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		60.282	39.246	30.888
	BALANCE CARRIED TO THE B/S		107.151	60.282	39.246
	EARNINGS IN FOREIGN CURRENCY		1858.698	214.000	NA
	IMPORTS		2014.467	362.299	406.192
	Earnings Per Share (Rs.)		8.38	3.82	1.56

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.76	1.04	0.48
Net Profit Margin (PBT/Sales)	(%)	--	1.58	0.76
Return on Total Assets (PBT/Total Assets}	(%)	5.06	3.48	1.74
Return on Investment (ROI) (PBT/Networth)		0.33	0.28	0.15
Debt Equity Ratio (Total Liability/Networth)		5.54	6.55	7.55
Current Ratio (Current Asset/Current Liability)		1.29	1.45	1.43

LOCAL AGENCY FURTHER INFORMATION

OPERATION:

The Company has recorded satisfactory performance for the year. Revenue has recorded a significant improvement over the previous year.

Despite competition from the coal/Yarn market, the company has been able to hold its position and has taken the advantage of available opportunities.

WEB SITE DETAILS

PROFILE

Subject is a closely held Public Limited Company engaged in the business of marketing of commodities like Non-Coking Coal, Polyester Yarn/Chips, Hot Stamping Foil, Polyester Spun Yarn, Pet Films, DEPB License, Polymers like PVC Resin, PP Raffia, LDPE, HDPE, MEG, HMS Scrap 1 and 2, Spin Finish Oil, Antiseptic Oil, Chemicals like Citric Acid Anhydrous, Citric Acid Monohydrate, Caustic Soda, Acedic Acid, Titanium Dioxide, Dioctyl Phthalate (DOP), Zinc Oxide and Others like Shoe, Tires and Series Special Inverter for Synchronous Control etc. The Company is having its Registered Office located at Surat and branch Office located at only for carrying out its local sales in Maharashtra and to tap the business from the local market. The Company is also having an integrated Coal Sorting, Grading and Warehousing unit located at the Magdalla Port, near Surat. The Company is having all these locations in a prime situation and in the range of 300 kms., from Mumbai, the major economic city of India. The company has been appointed as DCA/CS of IOCL at location: Daman and Silvassa. The company is looking to use the brand name of the IOCL with its ability of the marketing for the development of the business. The Indian Oil Corporation for selling their polymer products in Silvassa and Daman and Diu territory.

The city, Surat, is one of the highest consuming belts for POY Chips, which are used as raw material by Yarn manufacturers, who produce POY Yarn. There are excellent opportunities for systematic imports and marketing of POY Chips also. Apart from the POY Chips, there is huge demand for POY / FDY / SPECIALISED Yarn and there is short supply from indigenous industry, which gives vast opportunity for imported Yarn. 

The company is also engaged in marketing of POY / FDY / SPECIALISED Yarn for which, there is a huge market available in and around Surat. The company has also developed a brand image among the end users of yarn. The company is marketing the yarn under name and styled as “Surya FDY Yarn”. The company is supplying to various end users and satisfying their diversified requirements. Also the company is dealing in certain other products like, Poly Chips, Pet Films, DEPB License etc. 

The company is also engaged in marketing of PTA/MEG Polymers like PVC Resin / PP Raffia / LDPE / HDPE for which there is a huge market available in and around Surat, Daman, Silvasa and Ahmadabad.

The company is also marketing the imported material of HMS Scrap 1 and 2 for which huge market available in Gujarat. At present, the major purchasers of the materials imported by us are Hans Ispat Limited and Maulai Raj Steel Private Limited. They are hopeful of increasing number of customers for the products.

The Company is also marketing the Chemicals like Citric Acid Anhydrous, Citric Acid Monohydrate, Caustic Soda, Acedic Acid, Titanium Dioxide, Dioctyl Phthalate (DOP) for the chemicals are used for the various industrial uses and the food industry. They import the chemicals from China. They are having good marketing scope in these products, which there is a huge market available in and around Surat and Other Cities.

The Company is also marketing the Imported Products like Shoes Tires and and Series Special Inverter for Synchronous Control. The company is marketing the Shoes under name and styled as “Surya Footwear”.

Sr. No.	EVENT	YEAR
1.	Incorporated	1989
2.	Started a new division in the name of Surya Coal in Surat and Nagpur.	2000
3.	Converted in to a Public Ltd. (Unlisted Company)	2001
4.	Started first fully automatic coal screening plant in South Gujarat Region.	2002
5.	Established a new division named Surya Yarn.	2006
6.	Started own Logistic Division with the strength of 5 Trailers. As on today own 30 Trailers.	2008
7.	Indian Oil Corporation Limited assigned DCA/CS Agent for Daman & Diu and Dadra & Nagar Haveli region.	2010
8.	Set-up two product based division named Surya Rayon & Surya Technologies and two geographical area based divisions at Bhiwandi & Kolkata	2011

The Company was originally incorporated in the name of Prestige Marketing Private Limited on 21.06.1989 and converted into a Public Limited Company in the name of Prestige Marketing Limited on 28.09.2001. Its name has been changed to its present name namely Surya Exim Limited from 13.9.2002. SEL is promoted by Shri J.P. Saboo, a qualified Professional having more than 24 years of business experience in the field of professional practice as Chartered Accountant and 11 years experience in the field of Coal Industry / Yarn Trading and International Trade.

In the earlier years, the company was engaged in the business of marketing of consumer durables and home appliances. Subsequently in the year 2000, the company discontinued the previous business and decided to focus on import and marketing of commodities, mainly Non-Coking Coal, for which there is a big market available in and around Surat. Thus in the year 2000, the company established a new division in the name of “Surya Coal” and in a short span of 11 years, Surya coal has carved out a distinct position as one of the successful companies in the business of importing and marketing of non-cooking coal and supplying the same to diversified range of customers, which include companies like Best Paper Mills Private Limited, Birla Cellulosic, Sumeet Industries Limited, Birla Copper, Indo Borax & Chemical Limited, Garden Silk Mills Limited, Nova Petrochemical Limited, Gupta Synthetics Limited etc. The company is also having an integrated Coal, Sorting, Grading and Warehousing facility located at the Magdalla Port, near Surat.

With the growing customer base and the over all healthy business environment, the company has chalked out a growth strategy, wherein the company has continue to focus on the increased non-cooking coal requirements for both its existing and new potential customers.

The city, Surat, is one of the highest consuming belts for POY Chips, which are used as raw material by Yarn manufacturers, who produce POY Yarn. There are excellent opportunities for systematic imports and marketing of POY Chips also. Apart from the POY Chips, there is huge demand for POY / FDY / SPECIALISED Yarn, which is in short supply from indigenous industry, which gives vast opportunity for imported Yarn. Considering the growth of the yarn market, company has started in the year 2006 a division in a name of “Surya Yarn” to mainly look after the marketing and trading of various types of yarn and its raw material.

The company is also engaged in marketing of POY / FDY / SPECIALISED Yarn for which, there is a huge market available in and around Surat. The company has also developed a brand image among the end users of yarn. The company is supplying to various end users and satisfying their diversified requirements. Also the company is dealing in certain other products like, Poly Chips, Pet Films, Nylon Chips etc.

During the previous year the company has developed the very good market of PTA/MEG, which is raw material for making Polyester Chips and manufacturing of Polyester Yarn and FDY and having Good Market demand.

The company is also engaged in marketing of various Polymers like PVC Resin / PP Raffia / LDPE / HDPE for which there is a huge market available in and around Surat, Daman, Silvasa and Ahmedabad.

The Company has developed good market in the Gulf/Middle east countries. Taking the advantage of the good contacts with the various suppliers from China, Taiwan & Korea, the Company enjoy a good standing and able to negotiate very competitive price by way of buying in bulk quantity. Hence the Company is able to source the material at low cost and able to export the same at a competitive price. The Company has successfully developed the merchanting trade and is able to increase the profitability. The Company is already doing merchanting trade of various polymer/ masterbatchs /yarn /all sorts of computer hardware system/ etc. The Company is actively considering various proposal of marketing of various products in the field of merchant trade.

After the continuous growth of Surya Yarn, in 2010 company has established another division named “Surya Rayon” to capture the market of Viscose Rayon Yarn. The new division is performing well towards its objectives.

The Company has decided to explore its business line in new area of Trading of electronic/automation equipments, devices and accordingly started a new division styled as “Surya Technologies” in the year 2011. The primary object of the new division is to tape the opportunities in the line of electronic/automation equipments, devices and the office is located at Surat and also better focus on the same area.

Apart from the above, the management of the company is always committed to reduce the cost of expenditure to maximize the profits of the company which reflects in the volume of the profits of the earlier years. Further the management is also trying to utilize the assets of the company in a way to maximize stake holders interest commensurate with social development and sustainable growth resulting in maximization of wealth in addition to increase in profit volume.

Moving ahead, following the cost reduction policy, the company has already developed in-house logistic infrastructure for transporting the goods from Landed Port to the Godown of the company and for distributing the goods to the valued customers of the company.

The company is moving towards to get benefited from the emerging opportunities of the market and increase its business volume to the achievable level and for this purpose the company proposes to augment its working capital limits from the banking system.

Presently, the company is working under consortium banking arrangements with Canara Bank, Kotsafil Road, Branch, Surat and the ICICI Bank Ltd. and Bank of Baroda., enjoying aggregate fund based limit of Rs. 7.50 Cr and non-fund based L/C limit of Rs. 100.00 Cr. Further, additional L/C Limit by way of 100% margin as and when required, are also availed from the existing Bankers on need base. Canara Bank is a Lead Bank to the Consortium arrangement.

Considering the present business expansion trend, past developing ratio and also the targeted growth by the company alongwith the proposed expansion of new business avenues, its existing limits are inadequate to comply with the requirements of the company for its growth oriented business in the coming days.

The present enhancement proposal, therefore, involves an assessment of need base working capital for F. Y. 2011-12 under the Consortium Arrangement banking arrangement for Fund Based Limit of Rs. 100.00 Millions and Non-Fund Based Limit for Rs. 1500.00 Millions

Fixed Assets

v Furniture and Fixture

v Vehicles

v Cycle

v Car

v Computer

v Coal Warehouse

v Electrical Installation

v Land

v Plant and Machinery

v Weightment Machines

v Factory Shed

v Pipeline and Fitting

v Screening Plant

v Neon Sine Board

v Generator

v Pay Loader

v Tea / Coffee Machine

v Cell Phone

v Air Conditioners

v Time Control 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.49.35
UK Pound	1	Rs.77.84
Euro	1	Rs.65.35

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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.