MIRA INFORM REPORT

Report Date :

28.02.2012

IDENTIFICATION DETAILS

Name :	NEO CORP INTERNATIONAL LIMITED (w.e.f.29.01.2008)
Formerly Known As :	NEO SACK LIMITED
Registered Office :	220, Mahavir Industrial Estate, Opposite Mahakali Caves Road, Andheri (East), Mumbai-400093, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.02.1985
Com. Reg. No.:	11-223220
Capital Investment / Paid-up Capital :	Rs. 140.222 Millions
CIN No.: [Company Identification No.]	L24132MH1985PLC223220
TAN No.: [Tax Deduction & Collection Account No.]	BPLN00154A
PAN No.: [Permanent Account No.]	AAACN6513A
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Subject is engaged in manufacture of technical textiles.
No. of Employees :	700 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD3700000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established and reputed 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 / Regional Marketing Office :	220, Mahavir Industrial Estate, Opposite Mahakali Caves Road, Andheri (East), Mumbai-400093, Maharashtra, India
Tel. No.:	91-22-26879510
Fax No.:	Not Available
E-Mail :	neocorpho@hotmail.com bom@neocorp.co.in
Website :	http://www.neocorp.co.in
Corporate Office	Trivedi Chambers 2, Maharani Road, Indore, Madhya Pradesh, India
Tel. No.:	91-731-4211900
Fax No.:	91-731-4211944
Factory :	Sector 1, Plot No.62/63/64-A, Industrial Area, Pithampur – 454775, Madhya Pradesh, India
Tel. No.:	91-7292-410400
Fax No.:	91-7292-420499
Branch Offices / Regional Marketing Offices :	Located At v Delhi v Kolkata v Ahmedabad v Patna v Nagpur v Mangalore
International Offices :	Located At v United Kingdom v United States of America v China

DIRECTORS

AS ON 31.03.2011

Name :	Mr. K S Trivedi
Designation :	Chairman
Name :	Mr. Sunil Trivedi
Designation :	Managing Director
Name :	Mr. P Sharma
Designation :	Whole Time Director
Name :	Mr. D. Trivedi
Designation :	Independent Director
Name :	Mr. Shrawan Kumar Patodi
Designation :	Independent Director
Name :	Mr. Sanjay Trivedi
Designation :	Executive Director
Name :	Mr. Ladharam Patel
Designation :	Independent Director
Name :	Mr. Rolland Coderre
Designation :	Independent Director

KEY EXECUTIVES

Name :	Ms. Swati Gangrade
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2011

Category of Shareholder	No. of Shares	% of No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	3,833,998	27.34
Bodies Corporate	799,984	5.71
Sub Total	4,633,982	33.05
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	4,633,982	33.05
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	5,600	0.04
Financial Institutions / Banks	200	-
Foreign Institutional Investors	500	-
Sub Total	6,300	0.04
(2) Non-Institutions
Bodies Corporate	4,481,153	31.96
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 million	2,417,787	17.24
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	2,166,392	15.45
Any Others (Specify)	316,584	2.26
NRIs/OCBs	313,534	2.24
Clearing Members	3,050	0.02
Sub Total	9,381,916	66.91
Total Public shareholding (B)	9,388,216	66.95
Total (A)+(B)	14,022,198	100
(C) Shares held by Custodians and against which Depository Receipts have been issued	-	-
(1) Promoter and Promoter Group	-	-
(2) Public	24,000,000	-
Sub Total	24,000,000	-
Total (A)+(B)+(C)	38,022,198	-

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacture of technical textiles.

Products :

Products Description	Item Code No.
FIBC / SACK	39232990
Fabrics	39269099
Shade Net	60059000

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Agrotech	Kg	2000000	1930414
Packtech	Kg	21000000	20085218
Geotech	Kg	600000	137054
RP Granuals / Master Batch	Kg	1500000	--

GENERAL INFORMATION

No. of Employees :

700 (Approximately)

Bankers :

· State Bank of India

· State Bank of Travancore

· State Bank of Bikaner and Jaipur

· Punjab National Bank

· IDBI Bank Limited

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Term Loan (Secured by first pari passu charge on fixed assets and second pari passu charge on current assets)	419.440	343.458
Working Capital Loan (Secured by first pari passu charge by way of hypothecation of stocks of raw material, finished goods, spare parts, work-in-progress, book debts and second pari passu on all fixed assets)	571.708	379.384
Total	991.148	722.842
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Directors	0.175	0.092
From Bodies Corporate	120.764	14.727
Hire purchase against hypothecation of Vehicles	9.382	9.072
Total	130.321	23.891

Banking Relations :	--
Statutory Auditors :
Name :	A. P. Garg and Company Chartered Accountant
Address :	Indore, Madhya Pradesh, India
Subsidiaries :	Ø Euro Plast Limited, UK Ø Sacos Indigo Private Limited
Associates :	Ø Panam Packers Private Limited Ø Synergy Education International (Private) Limited Ø Vishwkarma Creations (Private) Limited Ø Olympain Investors and Traders Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
17000000	Equity Shares	Rs.10/- each	Rs. 170.000 Millions
1000000	Cumulative Compulsorily Convertible Preference Shares	Rs.10/- each	Rs. 10.000 Millions
	Total		Rs. 180.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14022198	Equity Shares	Rs.10/- each	Rs. 140.222 Millions

AS ON 31.12.2011

Authorised Capital : Rs. 700.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
38022198	Equity Shares	Rs.10/- each	Rs. 380.222 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		140.222	158.088	112.350
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		800.542	426.220	339.107
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		940.764	584.308	451.457
LOAN FUNDS
1] Secured Loans		991.148	722.842	459.813
2] Unsecured Loans		130.321	23.891	17.619
TOTAL BORROWING		1121.469	746.733	477.432
DEFERRED TAX LIABILITIES		37.092	25.686	22.995
TOTAL		2099.325	1356.727	951.884
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		482.878	295.802	251.345
Capital work-in-progress		231.248	101.340	170.459
INVESTMENT		185.777	81.110	58.149
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	573.997	295.626	311.402
	Sundry Debtors	647.169	495.792	510.615
	Cash & Bank Balances	42.581	57.542	25.214
	Other Current Assets	501.021	602.571	21.243
	Loans & Advances	80.245	57.765	99.395
Total Current Assets		1845.013	1509.296	967.869
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	494.404	503.213	343.485
	Other Current Liabilities	104.376	95.151	120.763
	Provisions	47.116	32.770	32.175
Total Current Liabilities		645.896	631.134	496.423
Net Current Assets		1199.117	878.162	471.446
MISCELLANEOUS EXPENSES		0.305	0.313	0.485
TOTAL		2099.325	1356.727	951.884

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2285.935	1756.227	1278.184
		Other Income	37.304	4.798	6.984
		TOTAL (A)	2323.239	1761.025	1285.168
Less	EXPENSES
		Raw Material Consumed	1944.947	1319.610	1023.866
		Excise Duty on Closing Stock	5.141	4.690	1.756
		Manufacturing Expenses	167.554	100.526	106.912
		Administrative & Selling Expenses	85.928	68.443	60.072
		Preliminary Expenses W/Off	0.039	0.039	0.039
		Prior Period Expenses	(0.182)	(0.140)	0.052
		Income Tax for Previous years	0.000	0.287	0.000
		Increase / (Decrease) in Stock	(208.984)	59.370	(55.322)
		TOTAL (B)	1994.443	1552.825	1137.375
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		328.796	208.200	147.793
Less	FINANCIAL EXPENSES (D)		136.885	64.130	29.553
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		191.911	144.070	118.240
Less/ Add	DEPRECIATION/ AMORTISATION (F)		25.226	26.372	20.545
	PROFIT BEFORE TAX (E-F) (G)		166.685	117.698	97.695
Less	TAX (H)		24.825	25.523	33.747
	PROFIT AFTER TAX (G-H) (I)		141.860	91.175	63.948
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		272.017	187.404	131.018
Less	APPROPRIATIONS
		Transfer to General Reserve	2.500	2.500	2.500
		Dividend	7.011	4.327	5.062
		Tax on Dividend	1.191	0.735
	BALANCE CARRIED TO THE B/S		403.175	272.017	187.404
	EXPORT VALUE		873.027	499.680	550.805
	IMPORTS
		Raw Materials	77.267	51.232	20.560
		Stores & Spares	0.000	0.466	0.000
		Capital Goods	86.547	69.507	61.067
	TOTAL IMPORTS		163.814	121.205	81.627
	Earnings Per Share (Rs.)		12.04	10.65	7.39

QUARTERLY RESULTS

PARTICULARS	30.06.2011	30.09.2011	31.12.2011
	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	599.920	800.110	674.700
Total Expenditure	503.060	684.580	624.770
PBIDT (Excl OI)	96.860	115.530	49.930
Other Income	4.370	38.210	17.220
Operating Profit	101.230	153.740	67.150
Interest	33.470	54.100	37.760
Exceptional Items	0.000	(0.010)	(0.120)
PBDT	67.760	99.630	29.270
Depreciation	7.980	9.570	8.660
Profit Before Tax	59.780	90.060	20.610
Tax	16.630	33.560	3.070
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	43.150	56.510	17.540
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	43.150	56.510	17.540

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.11	5.18	4.98
Net Profit Margin (PBT/Sales)	(%)	7.29	6.70	7.64
Return on Total Assets (PBT/Total Assets}	(%)	7.16	6.52	8.01
Return on Investment (ROI) (PBT/Networth)		0.18	0.20	0.14
Debt Equity Ratio (Total Liability/Networth)		1.92	2.40	2.21
Current Ratio (Current Asset/Current Liability)		2.86	2.39	1.95

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL PERFORMANCE

During the year, the Company has recorded a turnover of Rs. 2285.935 Millions as against Rs. 1756.227 Millions in the previous year. The Net profit (after tax and extra ordinary items) for the financial year ended 31sl March 2011 increased to Rs. 141.861 Millions from Rs. 92.175 Millions in the previous year representing an increase of 53.80% profit after tax.

BUSINESS OVERVIEW

Indian economy has been witnessing a phenomenal growth since the last decade. The Indian economy, characterized by strong macro-economic fundamentals, has grabbed the world's attention as one of the fastest growing economies with future promise. The country is still holding its ground in the midst of the current global financial crisis.

The technical textiles industry has immense potential in the developing countries. India is now emerging as a powerhouse of both production as well as end-use consumption of technical textiles. The demand for technical textiles will be boosted by the changing economic scenario. Considering its highly skilled and scientific/technical manpower and abundant availability of raw materials, India can emerge as a key player in the technical textiles industry.

Further, Indian Textile Industry contributes about 14% of the total industrial production of India. Furthermore, its contribution to the gross domestic product of India is around 3% and the numbers are steadily increasing.

India Textile Industry involves around 35 million workers directly and accounts for 21% of the total employment generated in the economy, the second largest provider of employment after agriculture. Thus, Technical textiles holds significant potential in India and the government has already taken steps to promote this industry.

INCREASE IN THE SHARE CAPITAL

The Company has increased its Authorized Share Capital from Rs. 180.000 Millions to Rs. 700.000 Millions divided into 69000000 equity shares of Rs. 10/- each and 1000000 Cumulative Compulsorily Convertible Preference Shares (CCCPs) of Rs. 10/- each in the Extraordinary General Meeting held on 11th April, 2011.

ACQUISITION

The Company has acquired shares of M/s Neoflex Infracon Limited on 28th May, 2011, which became the Subsidiary of the Company by virtue of acquisition of shares. Neoflex Infracon Limited is engaged in the infrastructure development business. NCIL has acquired UK based company Polybase (H.K.) Limited on 18th July, 2011 by virtue of 100% holding of shares.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

OVERALL REVIEW

Worldwide, Technical Textiles are the fastest growing segment of Textile sector. In the developed countries, the share of such textile products has now reached 60% of all textiles. The key demand drivers are the growth in GDP and the growth in infrastructure and overall quality of living.

The company is all geared to get an opportunity to enter into larger market in the value added market of FlBC (Flexible Intermediate Bulk Container) and other technical textiles. The Company embarked on a vigorous growth phase with more concentration in the manufacture of high quality environment friendly technical textiles falling under Packtech, Geotech, Agrotech and Oekotech segments.

The company's growth graph with respect to the financials showed a steep upward trend on account of diversification into the value added Packtech products likes FIBC's for packaging of food products; leno bags and additions of Agrotech products.

SYNOPSISON GROWTH OF NCIL

Subject was incorporated in Year 15Ih February 1985. Subject, since its inception in 1985, is dedicated in making tailor designed products under Packtech. Subject reached the status of a fore-runner internationally as a reliable supplier of Packtech products. With its current growth initiative, Subject has entered into other technical textile segments like Geotech and Agrotech.

Subject is a listed Public Limited Company with an equity base of 338.02 Crores. It is listed on the Bombay Stock Exchange, Madhya Pradesh Stock exchange. It approached public for subscription in 1992 and went through Rights issue in 1996. Subject acquired two U.K. based company, Euro Plast Limited in 2008-09 and acquired shares of Sacos Indigo Limited in 2009-Itland made it as its subsidiary company. Subject also enjoys a Star Export House status and Polybase (H.K.) Limited in 2010-11 recognized by the Government of India continuously from 1994 in view of the Company's excellent Export performance.

COMPANY'S OUTLOOK

The technical textile business is one of the most promising and faster growing areas for global and Indian textile industry. With consistent modernization and expansion with machinery of latest technology, it is expected that the Company will be able to improve efficiency and successfully face global competition and will be one of the leading players in the domestic as well as international markets.

As a strategy, we always wanted to be one-stop shop for all woven packaging needs of their customers. To this end, they have developed ourselves as a multi-product, multi-location and multi-market company serving to the needs of their customers. Going forward, they propose to add value added products in their product portfolio. They also propose to further invest in forward and backward integration.

INTERNALCONTROL SYSTEMSAND ADEQUACY

The Company is fully committed to ensuring an effective internal control environment. The Company has a sound system of internal control in place, which assures the Board of Directors and the management that there is a structured system to closely monitor and evaluate the efficiency and adequacy of business planning, compliance with operating systems and accounting procedures and policies, ensuring legal and regulatory compliances, protecting company's assets and prevention and detection of fraud and error. The company has adequate qualified and experienced executives to monitor the internal control systems. The Company uses Enterprise Resource Planning (ERP) supported by in-built controls that ensures reliable and timely financial reporting.

FIXED ASSETS:

• Land and Site Development
• Plant and Machinery
• Building
• Electricity Installation
• Office Equipment
• Vehicles
• Fire Extinguisher
• Furniture and fixture
• Weighing Scales
• Computer

UNAUDITED FINANCIAL RESULTS FOR 9 MONTHS ENDED ON 31^ST DECEMBER 2011

(Rs. in millions)

Particular	Quarter Ended
	31/12/2011 (Unaudited)	30/09/2011 (Unaudited)
Net Sales/Income from Operations	691.922	838.323
Expenditure
a) (Increase) / Decrease in Stock in Trade	(32.749)	4.403
b) Consumption of Raw Materials	559.056	608.283
c) Employees Cost	11.378	18.485
d) Depreciation	8.662	9.567
e) Other Expenditure	35.095	26.162
f) Manufacturing Expenses	51.990	27.249
f) Total	633.432	694.149
Interest	37.758	54.097
Exceptional Items	0.122	0.013
Profit from Ordinary Activities before Tax (7+8)	20.611	90.064
Tax Expense
a) Current tax	(11.386)	16.198
b) Deferred tax	14.453	17.360
Net Profit from Ordinary Activities after Tax (9-10)	17.543	56.506
Extraordinary Item (net of expense)	0.000	0.000
Net Profit for the period (11-12)	17.543	56.506
Paid-up Equity Share Capital (Face Value of Rs.10/- Each)	380.222	380.222
Reserves Excluding Revaluation Reserve	--	--
Basic and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised
a) Basic and diluted EPS before extraordinary items	0.46	4.03
b) Basic and diluted EPS after extraordinary items	0.46	4.03
Public Shareholding
-Number of Shares	33388216	33388216
- Percentage of Shareholding	87.81%	87.81%
Promoters and Promoter Group Shareholding
a) Pledged/Encumbered
- Number of Shares	2910860	3011144
- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)	62.82%	64.98%
- Percentage of Shares (as a % of the Total Share Capital of the Company)	7.66%	7.92%
b) Non Encumbered
- Number of Shares	1723122	1622838
- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)	37.18%	35.02%
- Percentage of Shares (as a % of the Total Share Capital of the Company)	4.53%	4.27%

Notes:

1. The above unaudited results have been taken on record at the meeting of Board of Directors held on 14.02.2012

2. The company operates in a single business segment. i.e. Technical Textiles. Hence the disclosure under Accounting Standard 17 is not applicable.

3. Figures of previous period / year have been regrouped / re-arranged wherever necessary.

4. The number of investor complaints received during the quarter were 7 and all have been resolved and there were no investor complaints pending.

5. This Unaudited results are subject to Limited Review by the Auditors.

6. There has been no change in the accounting policies adopted during the 9 months ended on 31.12.2011 as compared to those followed in the imrnedately preceding financial year 2010-11.

7. The consolidated Unaudited financial Results includes the'results of subsidiary companies MIS Euro Plast Limited. U.K. and M/s. Sacos Indigo Private Limited, Pithampur .

WEB SITE DETAILS

BUSINESS DESCRIPTION

Subject is engaged in manufacture of technical textiles. The Company provides services in four sectors, which include Packtech, Geotech, Agrotech and Oekotech. Its range of Packtech products provides solutions for storage carriage and protection requirements of industrial, agricultural and other goods. It ranges from relatively heavyweight woven fabrics used for bags, sacks and carpets to lightweight woven used as leno bags and other food and industrial product wrappings. Its technical textiles are used for packaging, apparel, home textiles and automotive manufacturing. The sectors sports equipments, industrial end-use, as well as medical and sanitary consumables. Applications for technical textiles in the Agrotech sector include activities concerned with growing and harvesting of crops and animals. It has Geotextiles having a range of end uses in pavements and roads; coastal engineering/defense; landfill, and industrial and contaminated land reclamation. For the nine months ended 31 December 2010, Neo Corp International Limited's revenues increased 58% to RS2.11B. Net income increased 28% to RS115.7M. Revenues reflect an increase in income from operations and a rise in other income. the presence other income. Net income was partially offset by an increase in consumption of raw materials, a rise in employees cost, increased depreciation charge, higher other expenditure and increased interest expenses.

MANAGEMENT

KAILASH CHANDRA. S. TRIVEDI - EXECUTIVE CHAIRMAN OF THE BOARD

Mr. Kailash Chandra. S. Trivedi is Executive Chairman of the Board of Neo Corp International Limited. He has done his graduation in arts and has more than 50years of experience in industry. He has also served the Gujarati Samaj Trust for 40 years at different honorary posts and the last being as the President of the Trust. During this tenure, the trust built several educational institutions.

ROLLAND CODERRE - NON-EXECUTIVE INDEPENDENT DIRECTOR

Shri. Rolland Coderre is Non-Executive Independent Director of Neo Corp International Limited. Mr. Rolland Coderre is an entrepreneur from Cananda having experience in number of fields like packaging, construction etc.

LADHARAM PATEL - NON-EXECUTIVE INDEPENDENT DIRECTOR

Shri. Ladharam Patel is Non-Executive Independent Director of Neo Corp International Limited. Mr. Ladharam Patel, B.com has around 40 years of experience in the business of manufacture and trading of marbles and timber.

PRADHUMAN SHARMA - WHOLE-TIME DIRECTOR

Shri. Pradhuman Sharma is Whole-Time Director of Neo Corp International Limited. He is DTE, M.A (Economics) and MBA (Finance) gold medalist and having working experience of over 15 years in various fields of the industry. He is also a visiting faculty of the DAW for the past 8 years.

DASHRATH BHAI TRIVEDI - NON-EXECUTIVE INDEPENDENT DIRECTOR

Shri. Dashrath Bhai Trivedi is Non-Executive Independent Director of Neo Corp International Limited. He has B.A., B.Com. L.L.B has had working experience in the areas of export, import, share broking and business experience of almost 20 years in timber.

SANJAY TRIVEDI - EXECUTIVE DIRECTOR

Shri. Sanjay Trivedi is Executive Director of Neo Corp International Limited. He has done his M.Com and post graduation in management from the University of Hartford U.S.A. He has experience in International Marketing. He has been instrumental in developing many lucrative markets for the company.

Education

· M, University of Hartford Management, University of Hartford

SUNIL KUMAR TRIVEDI - MANAGING DIRECTOR, EXECUTIVE DIRECTOR

Shri. Sunil kumar Trivedi is Managing Director, Executive Director of Neo Corp International Limited. is founder of the Company and associated since incorporation. Shri. Sunil Kumar Trivedi is a matured Business Personality. He is a graduate in chemical engineering from B.I.T.S., Pilani and holds a Postgraduate degree in business management. He has a experience in various business activities and more particularly thorough practical experience in all the facets of the plastic Industry. He carries a vision of growth of the Company and has made invaluable contributions to the success and performance of the Company over the years. Moreover, he is instrumental in moving the company into export and has developed a export distribution network. He has done his engineering and post graduation in management with specialization in finance.

Education

· Chemical Engineering, Birla Institute of Technology and Science, Pilani

SHRAWAN KUMAR PATOD - NON-EXECUTIVE INDEPENDENT DIRECTOR

Shri. Shrawan Kumar Patodi is Non-Executive Independent Director of Neo Corp International Limited. He has B. Com. M.A., LL.B. and D.H.B. He has experience of 7 years as Export Executive. He has experience of over two decades in the various fields.

THE MILESTONES

1985: Incorporation

1993: Became a Public Limited Company

1994: Status of Export House, Recognized By Government of India

1995: Second Best Exporter Award by C Ministry of Commerce Govt. of India.

1996: Right Issue

1997: Broadening of Product Mix by adding FIBC’s

1998: Best Exporter Award by Plexcouncil

1999: Best Exporter Award by AIFTMA

2000-2001: Company got the 2nd Best Exporter’s Award from the Plastic Exporter Promotion Council (Sponsored by Ministry of Commerce   and Industry, Govt. of India 2001: Awarded Status on “Golden Export House Certificate “ from the Additional Director of Foreign Trade, Directorate General of Foreign Trade Ministry of Commerce.

2002-2003 Certificate of Compliance on Quality Management System (ISO 9001-2000) from the International Certificate services (Asia) Private Limited.

2002-2003: Company got Exporter’s Performance Award from All India Flat Tape Manufacturer Association, Banglore India.

2004-2005: Company got Exporter’s Performance Award from All India Flat Tape Manufacturer Association, Banglore India.

2005-2006: Expansion Project for setting up of clean room facility and enhancement of big bag capacity to 3.5 Million bags per annum.

2006-2007: Implementation of 1S0-22000 and HACCP Systems.

NEWS

CHANGE OF REGISTERED OFFICE

25 January 2012

India, Jan. 25 -- Neo Corp International Limited has informed BSE that the Registered Office of the Company has been changed as follows with effect from October 19, 2011:Old: Industrial Area, Sector- 1, Plot No. 62-63-64A, Pithampur, Distt-Dhar, M. P. (India)- 454775.New: 220, Mahavir Industrial Estate, Opposite Mahakali Caves Road, Andheri (East), Mumbai (M.H.)- 400093.

NEO CORP CRAWLS HIGHER ON INCORPORATING ITS WHOLLY OWNED SUBSIDIARY

19 December 2011

India, Dec. 19 -- Neo Corp International is currently trading at Rs 47.00, up by 0.80 points or 1.73% from its previous closing of Rs. 46.20 on the BSE.T he scrip after opening at Rs 47.00 went flat after 200 shares were traded on the counter. The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 62.90 on 25-Jan-2011 and a 52 week low of Rs 37.00 on 28-Nov-2011.Last one week high and low of the scrip stood at Rs 49.40 and Rs 39.50 respectively. The current market cap of the company is Rs 1780.000 Millions. The promoters holding in the company stood at 12.19% while Institutions and Non-Institutions held 0.02% and 24.67% respectively. Neo Corp International's promoters have incorporated a Part IX Company -- Poly Logic International -- which becomes the wholly owned subsidiary of the company. The company shall be engaged in the business of trading and manufacturing of technical textile products. Neo Corp International is engaged in making tailor designed products under Packtech. It reached the status of a fore-runner internationally as a reliable supplier of Packtech products.

BOARD RECOMMENDS DIVIDEND

07 September 2011

India, Sept. 07 -- Neo Corp International Limited has informed BSE that the Board of Directors of the Company at its meeting held on September 02, 2011, inter alia, has recommended dividend at the rate Rs. 0.50 (5%) per equity share for the year ended March 31, 2011, subject to the approval of shareholders of the Company at the ensuring Annual General Meeting.

SHIFTING OF REGISTERED OFFICE OF RTA

28 June 2011

India, June 28 -- Neo Corp International Limited has informed BSE that the Company’s Share Transfer agent M/s. ANKIT CONSULTANCY PRIVATE LIMITED is going to shift its Registered Office w.e.f. July 01, 2011 from the present location :2nd Floor, Alankar Point, 4-A Rajgarh Kothi, Geeta Bhawan Chouraha, A. B. Road, Indore (M.P.) 452 001to new location Plot No. 60, Electronic Complex, Pardeshipura, Indore (M.P.) - 452 010The new contact nos. are as under: T el. : 0731-3198601, 3198602 Fax no. : 0731-4065798.email: ankit_4321@yahoo.com

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. 49.04
UK Pound	1	Rs. 77.77
Euro	1	Rs. 65.89

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		54

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.