1. Summary Information

		Country	India
Company Name	ALLIED STRIPS LIMITED	Principal Name 1	Mr. Mohender Aggarwal
Status	Good	Principal Name 2	Mr. Gaurav Aggarwal
		Registration #	55-049849
Street Address	14 – B, Manohar Park, 1^st Floor, New Rohtak Road, New Delhi - 110026, Delhi, India
Established Date	05.08.1992	SIC Code	--
Telephone#	91-11-28316772 / 32531153	Business Style 1	Manufacturer
Fax #	91-11-28316771	Business Style 2	--
Homepage	www.alliedstrips.com	Product Name 1	CR Steel
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.53,197,000 /-	Product Name 3	--
Shareholders	Bodies corporate-26.43% Directors or relatives of Directors - 66.84% Other top fifty shareholders - 6.73%	Banking	UCO Bank
Public Limited Corp.	No	Business Period	20 Year
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (57)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,006,861,000	Current Liabilities	368,006,000
Inventories	407,009,000	Long-term Liabilities	1,522,510,000
Fixed Assets	526,980,000	Other Liabilities	8,084,000
Deferred Assets	--	Total Liabilities	1,898,600,000
Invest& other Assets	1,074,686,000	Retained Earnings	1,063,227,000
		Net Worth	1,116,936,000
Total Assets	3,015,536,000	Total Liab. & Equity	3,015,536,000
Total Assets (Previous Year)	1,112,036,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	2,578,085,000	Net Profit	61,420,000
Sales(Previous yr)	2,047,326,000	Net Profit(Prev.yr)	40,279,000

MIRA INFORM REPORT

Report Date :

29.02.2012

IDENTIFICATION DETAILS

Name :	ALLIED STRIPS LIMITED
Registered Office :	14 – B, Manohar Park, 1^st Floor, New Rohtak Road, New Delhi - 110026, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	05.08.1992
Com. Reg. No.:	55-049849
Capital Investment / Paid-up Capital :	Rs.53.197 Millions
CIN No.: [Company Identification No.]	U27105DL1992PLC049849
TAN No.: [Tax Deduction & Collection Account No.]	DELA04457F / DELA11930C / DELA12173A
PAN No.: [Permanent Account No.]	AABCA0609D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of CR Steel
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (57)

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

Maximum Credit Limit :	USD 4400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. The company is doing well. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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 :	14 – B, Manohar Park, 1^st Floor New Rohtak Road, New Delhi - 110026, Delhi, India
Tel. No.:	91-11-28316772 / 32531153
Fax No.:	91-11-28316771
E-Mail :	rgoyal60@gamil.com asl@alliedstrips.com
Website :	www.alliedstrips.com
Corporate Office :	201, Krishna Apartment , Netaji Subhash Place, New Delhi-110034, India
Tel. No.:	91-11-47824723 / 32459030
Factory :	42 km stone, Delhi-Rohtak Road, Bahadurgarh, Distt - Jhajjar -124507, Haryana, India
Tel. No.:	91-1276-280802 / 280803 / 280804
Fax No.:	91-1276-280851

DIRECTORS

As on 30.09.2010

Name :

Mr. Mohender Aggarwal

Designation :

Chairman Cum Managing Director

Address :

12/75, Punjab Bagh West, New Delhi – 110026, India

Date of Birth/Age :

52 Years

Qualification :

Graduate

Experience :

30 Year

Date of Appointment :

11.08.2003

DIN No.:

00292891

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	U27105DL1992PLC049849	ALLIED STRIPS LIMITED	Whole-time director	3/3/2009	11/8/2003	-	Active	NO
2	U27100DL2010PLC198205	ASL STEEL AND POWER LIMITED	Director	20/01/2010	20/01/2010	-	Active	NO
3	U40101DL2010PLC198934	ASL POWER LIMITED	Director	10/2/2010	10/2/2010	-	Active	NO
4	U51109WB1997PTC084381	DIKSHA VINIYOG PRIVATE LIMITED	Director	1/9/2010	1/9/2010	-	Active	NO
5	U51109WB1996PTC077483	SWETA AGROCHEM PRIVATE LIMITED	Director	1/9/2010	1/9/2010	-	Active	NO
6	U51109WB2004PTC098021	SURVI COMMOTRADE PRIVATE LIMITED	Director	1/9/2010	1/9/2010	-	Active	NO
7	U27100DL2011PTC228556	PHEASANT STAMPING PRIVATE LIMITED	Director	10/12/2011	10/12/2011	-	Active	NO
8	U51909DL2011PTC228539	MERCURY DIGITAL SERVICES PRIVATE LIMITED	Director	10/12/2011	10/12/2011	-	Active	NO
9	U45400DL2011PTC228959	ASL PROJECTS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
10	U72900DL2011PTC228934	BLUETAIL TECHNOLOGY PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
11	U51909DL2011PTC228933	DIRECT EXPORTS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
12	U51909DL2011PTC228931	DESPERATE TRADING PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
13	U63040DL2011PTC228930	BLUETAIL TOURS AND TRAVELLS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
14	U51909DL2011PTC228929	ASL DIGITAL SERVICES PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
15	U72900DL2011PTC228925	ACCENTOR INFOTECH PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
16	U27100DL2011PTC228923	PRUDENTIAL METALLICS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
17	U72200DL2011PTC228921	GREBE TECHNOLOGY PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
18	U51102DL2011PTC229346	SPREAD EAGLE TRADE SOLUTIONS PRIVATE LIMITED	Director	27/12/2011	27/12/2011	-	Active	NO

Name :

Ms. Sunita Aggarwal

Designation :

Director

Address :

12/75, Punjab Bagh West, New Delhi – 110026, India

Date of Birth/Age :

52 Year

Qualification :

Graduate

Experience :

28 Yeara

Date of Appointment :

19.03.2004

DIN No.:

00292923

Name :

Mr. Gaurav Aggarwal

Designation :

Managing Director

Address :

12/75, Punjab Bagh West, New Delhi – 110026, India

Date of Birth/Age :

29 Years

Qualification :

B.Tech (Comp.)

Experience :

4 Years

Date of Appointment :

15.09.2005

DIN No.:

00269241

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	U27105DL1992PLC049849	ALLIED STRIPS LIMITED	Managing director	3/3/2009	15/09/2005	-	Active	NO
2	U72901DL2006PTC148920	INFINITE INFO-SOLUTION PRIVATE LIMITED.	Director	13/03/2009	13/03/2009	1/6/2011	Active	NO
3	U45207WB2009PTC139233	ZIYAN INFRATECH PRIVATE LIMITED	Director	6/11/2009	6/11/2009	-	Active	NO
4	U27100DL2010PLC198205	ASL STEEL & POWER LIMITED	Director	20/01/2010	20/01/2010	-	Active	NO
5	U40101DL2010PLC198934	ASL POWER LIMITED	Director	10/2/2010	10/2/2010	-	Active	NO
6	U51109WB1997PTC084381	DIKSHA VINIYOG PRIVATE LIMITED	Director	1/9/2010	1/9/2010	-	Active	NO
7	U51109WB1996PTC077483	SWETA AGROCHEM PVT LTD	Director	1/9/2010	1/9/2010	-	Active	NO
8	U51109WB2004PTC098021	SURVI COMMOTRADE PRIVATE LIMITED	Director	1/9/2010	1/9/2010	-	Active	NO
9	U27100DL2011PTC228556	PHEASANT STAMPING PRIVATE LIMITED	Director	10/12/2011	10/12/2011	-	Active	NO
10	U51909DL2011PTC228539	MERCURY DIGITAL SERVICES PRIVATE LIMITED	Director	10/12/2011	10/12/2011	-	Active	NO
11	U45400DL2011PTC228959	ASL PROJECTS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
12	U72900DL2011PTC228934	BLUETAIL TECHNOLOGY PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
13	U51909DL2011PTC228933	DIRECT EXPORTS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
14	U51909DL2011PTC228931	DESPERATE TRADING PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
15	U63040DL2011PTC228930	BLUETAIL TOURS AND TRAVELLS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
16	U51909DL2011PTC228929	ASL DIGITAL SERVICES PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
17	U72900DL2011PTC228925	ACCENTOR INFOTECH PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
18	U27100DL2011PTC228923	PRUDENTIAL METALLICS PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
19	U72200DL2011PTC228921	GREBE TECHNOLOGY PRIVATE LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO
20	U51102DL2011PTC229346	SPREAD EAGLE TRADE SOLUTIONS PRIVATE LIMITED	Director	27/12/2011	27/12/2011	-	Active	NO

Name :

Mr. Ashok Kumar Khushu

Designation :

Director

Address :

E-007, Purvasha Apartment, Mayur Vihar Phase-1, Delhi-110095, India

Date of Birth/Age :

59 Years

Qualification :

B.E. 9mechanical and Diploma in Management)

Experience :

37 Years

Date of Appointment :

12.10.2009

DIN No.:

00278227

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	L74899DL1983PLC014942	BHUSHAN STEEL LIMITED	Director	29/01/2000	29/01/2000	30/04/2007	Active	NO
2	U72300DL2007PTC164339	MAGNUM-OPUS DIGITAL ART AND TECHNOLOGY PRIVATE LIMITED	Director	4/6/2007	4/6/2007	-	Active	YES
3	U27105DL1992PLC049849	ALLIED STRIPS LIMITED	Additional director	12/10/2009	12/10/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vinay Kumar Purwar
Designation :	Secretary
Address :	41, Mohan Park, West Guru Angad Nagar, New Delhi – 110092, India
Date of Appointment :	01.12.2009
PAN No. :	AJZPP3050F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Mohender Kumar Agarwal	665440
Nidhi Agarwal	21800
Sunita Agarwal	572500
Mohender Kumar Agarwal (HUF)	160000
Gaurav Agarwal	1393320
Ashima Agarwal	742500
Sweta Agrochem Private Limited, India	760000
Survi Commotrade Private Limited, India	338000
Smart Management Solution, UAE	267700
AL Sabri Steel Works (LLC), UAE	90300
Zian Infratech Private Limited, India	308190
Total	5319750

As on 30.09.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	26.43
Directors or relatives of Directors	66.84
Other top fifty shareholders	6.73
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of CR Steel
Products :	CR Strips / HR Coils / Scrap

PRODUCTION STATUS (As On 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Fresh	Mt		39754.333
Scrap / Rej.	MT	60000	3586.957

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• UCO Bank, Mid Corporate Branch, 5 Sansad Marg, New Delhi - 110001, Delhi, India
• Punjab National Bank, Large Corporate Branch, Tolstoy Marg, New Delhi -10001, Delhi, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2010	As on 31.03.2009
Cash Credit form Banks (secured against hypothecation of stocks and Book Debt in addition to personal gurantee of the Promoters Directors)	736.560	567.445
Term Loan (secured against existing and future fixed assets of the company in addition to personal gurantee of Promoters Directors)	30.400	46.148
Term Loan for Expansion Project under Consortium (Including Buyer's Credit of Rs.298.123 millions) ( 1st pari-passu charge on all the moveable and hovabible assets of the borrower, second pari-passu charge on the current assets of the company in addition to personal guarantee of Promoter Directors)	710.060	0.000
Vehicle Loan (secured against hypothecation of vehicle)	10.459	11.885
Total	1487.479	625.478
Unsecured Loan	As on 31.03.2010	As on 31.03.2009
Unsecured loans (From Shareholders and Directors)	35.032	39.863
Total	35.032	39.863

Banking Relations :	--
Auditors :
Name :	Rajesh Goyal and Associates Chartered Accountants
Address :	13 / 435, Sunder Vihar, New Delhi – 110087, India
Tel. No.:	91-11-25281023
Mobile No.:	91-9312210540
Fax No.:	91-11-42333935
E-Mail :	rgasso84@gamil.com
PAN.:	AAFPG2300L

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5319750	Equity Shares	Rs.10/- each	Rs.53.198 Millions

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		53.197	38.638	31.888
2] Share Application Money		0.512	0.000	0.000
3] Reserves & Surplus		1063.227	258.784	92.076
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1116.936	297.422	123.964
LOAN FUNDS
1] Secured Loans		1487.479	625.478	379.407
2] Unsecured Loans		35.031	39.863	31.163
TOTAL BORROWING		1522.510	665.341	410.570
DEFERRED TAX LIABILITIES		8.084	8.320	8.489
TOTAL		2647.530	971.083	543.023
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		526.980	108.459	108.516
Capital work-in-progress		1074.593	28.858	3.913
INVESTMENT		0.093	0.093	0.093
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	407.009	216.876	259.786
	Sundry Debtors	618.255	623.461	256.841
	Cash & Bank Balances	57.399	12.378	0.862
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	331.207	121.911	29.210
Total Current Assets		1413.870	974.626	546.699
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	262.848	103.102
	Other Current Liabilities	73.058	16.816
	Provisions	32.100	21.035	5.800
Total Current Liabilities		368.006	140.953	116.198
Net Current Assets		1045.864	833.673	430.501
MISCELLANEOUS EXPENSES		0.000	0.000	0.00
TOTAL		2647.530	971.083	543.023

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	2578.085	2047.326	1815.840
		Other Income	1.264	38.433	0.477
		TOTAL (A)	2579.349	2085.759	1816.317
Less	EXPENSES
		Increase / (Decrease) in Stock	(46.976)	7.511	(83.580)
		Raw-Material consumed	2139.748	1611.070	1484.740
		Manufacturing Expenses	260.240	291.132	319.991
		Advertising & Selling Expenses	32.724	26.345	19.014
		TOTAL (B)	2385.736	1936.058	1740.165
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		193.613	149.701	76.152
Less	FINANCIAL EXPENSES (D)		81.550	73.126	41.984
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		112.063	76.575	34.168
Less/ Add	DEPRECIATION/ AMORTISATION (F)		18.778	15.431	12.995
	PROFIT BEFORE TAX (E-F) (G)		93.285	61.144	21.173
Less	TAX (H)		31.865	20.865	5.800
	PROFIT AFTER TAX (G-H) (I)		61.420	40.279	15.373
Less/ Add	Income Tax adjustment for earlier year		(5.213)	(1.821)	(0.793)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		92.472	54.014	39.434
	BALANCE CARRIED TO THE B/S		148.679	92.472	54.014
	IMPORTS
		Capital Goods	490.409	NA	NA
	TOTAL IMPORTS		490.409	NA	NA
	Earnings Per Share (Rs.)		11.55	10.42	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.38	2.08	0.85
Net Profit Margin (PBT/Sales)	(%)	3.62	2.99	1.17
Return on Total Assets (PBT/Total Assets}	(%)	4.81	5.65	3.23
Return on Investment (ROI) (PBT/Networth)		0.08	0.20	0.17
Debt Equity Ratio (Total Liability/Networth)		1.69	2.71	4.25
Current Ratio (Current Asset/Current Liability)		3.84	6.91	4.70

LOCAL AGENCY FURTHER INFORMATION

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U27105DL1992PLC049849
Name of the company	ALLIED STRIPS LIMITED
Address of the registered office or of the principal place of business in India of the company	14-B, MANOHAR PARK, 1ST FLOORNEW ROHTAK ROAD, NEW DELHI, INDIA rgoyal60@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10120822
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	UCO Bank, Mid Corporate Branch, 5 Sansad Marg, New Delhi - 110001, Delhi, India shahjindal@gmail.com
Nature of instrument creating charge	Joint deed of hypothecation, working capital consortium agreement and interse agreement
Date of instrument Creating the charge	30.11.2011
Amount secured by the charge	Rs.1050.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest as may be specified by the bank from time to time Terms of repayment On demand Margin As per agreement Extent and operation of the charge The charge shall rank pari passu with Canara Bank as lead Bank and UCO Bank, OBC, Punjab National Bank and Dena Bank as consortium members Others The above is to secure UCO Bank fund based limit of Rs.600.000 millions and non fund based limit Rs.450.000 millions.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Pari passu charge on entire current assets as per second schedule. Second pari passu charge on fixed assets. First charge held by term lenders.
Particulars of the present modification	Extent of operation of pari passu charge on entire current assets as per second schedule and second pari passu charges on fixed assets. First charge held by term lenders stands extended for UCO Bank fund based limit of Rs.600.000 millions and non fund based limit Rs.450.000 millions aggregating to Rs.1050.000 millions other terms and conditions remain the same.

Fixed Assets

• Land
• Building
• Plant and Machinery
• Office Equipments
• Furniture and Fixture
• Vehicle

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.49.14
UK Pound	1	Rs.77.86
Euro	1	Rs.66.06

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		57

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.