MIRA INFORM REPORT

Report Date :

20.01.2012

IDENTIFICATION DETAILS

Name :	D AND H SECHERON ELECTRODES PRIVATE LIMITED
Registered Office :	213D / 215 D, Vishnu Shopping Centre, Plot No.37, Sector 15, CBD Belapur, Navi Mumbai – 400614, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.06.1965
Com. Reg. No.:	11-164343
Capital Investment / Paid-up Capital :	Rs. 68.410 Millions
CIN No.: [Company Identification No.]	U32101MH1965PTC164343
TAN No.: [Tax Deduction & Collection Account No.]	BPLD00066D
Legal Form :	Private Limited Liability company.
Line of Business :	Manufacturer of Welding Electrodes.
No. of Employees :	70 (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 1300000
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 commitment. 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.

INFORMATION PARTED BY

Name :	Mr. Mandar
Designation :	Accountant
Contact No.:	91-22-2759339
Date :	19.01.2012

LOCATIONS

Registered Office :	213 D/215 D, Vishnu Shopping Centre, Plot No.37, Sector 15, CBD Belapur, Navi Mumbai-400 614, Maharashtra, India.
Tel. No.:	91-22-27561339 and 27561798
Fax No.:	91-22-27561299
E-Mail :	dnchcbd@dnhsecheron.net nsp4u.2007@rediffmail.com tandi@dnhsecheron.net
Website:	http://www.dnhsecheron.com
Corporate Office :	Merchant Chambers, 5^th Floor, west wing, 41 New Marine Lines, Opposite Patkar Hall, Mumbai-400020, Maharashtra, India.
Tel. No.:	91-22-40428112/ 40428100/ 22037663/ 40428100
Fax No.:	91-22-40428101/ 22037664
E-Mail :	narendrasamala@dnhsecheron.net
Website :	http://www.dnhsecheron.com
Factory 1 :	44-46, Industrial Estate Kila Maidan, Post Bag No. 3, Indore-452006, Madhya Pradesh, India.
Tel. No.:	91-731-2412331/37
Fax No.:	91-731-2412338
E-Mail :	dnhi@sancharnet.in
Website :	http://www.dnhsecheron.com
Factory 2 :	Village: Dakachya, A.B. Road, District Indore, Madhya Pradesh, India
Tel. No.:	91-731-2309001/ 2805253/ 2805083
Fax No.:	91-731-2805177
Branches:	Located At: · Mumbai · Nashik · Nagpur · Vasai · Ahmedabad · Surat · Gandhidham · Jamnagar · Baroda · Pune · Kolkata · Durgapur · Cuttack · Rourkela · Angul · Jharsuguda · Guwahati · Delhi · Faridabad · Ghaziabad · Chandigarh · Ludhiana · Secundrabad · Vizag · Chennai · Coimbatore · Neyveli · Trichy · Kochi · Bangalore · Mangalore · Gulbarga · Kanpur · Sitapur · Anpara · Korba · Bilaspur · Bhilai · Satna · Jamshedpur · Bokaro · Indore · Chittorgarh · Udaipur · Jodhpur

DIRECTORS

AS ON 26.09.2011

Name :	Mr. Murli Dhar Khatri
Designation :	Managing Director
Address :	184 Kalani Nagar, Aerodrome Road, Indore-452005, Madhya Pradesh, India.
Date of Birth/Age :	08.03.1940
Date of Appointment :	01.07.2006
DIN No.:	00064698

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	U24232MP1980PTC001622	INDIAN ORGANICS AND PHARMACEUTICALS PRIVATE LIMITED	Director	26-07-94	26-07-94	Active	NO
2	U15143MH1994PTC179433	D AND H SECHERON INDUSTRIES PRIVATE LIMITED	Director	19-06-95	19-06-95	Active	NO
3	U51900MH1986PTC041901	D AND H SECHERON IMPEX PRIVATE LIMITED	Director	09-02-96	09-02-96	Active	NO
4	U74300MP1994PTC008691	JEWEL MEDIA PRIVATE LIMITED	Director	02-09-96	02-09-96	Active	NO
5	U01710MP1994PLC008135	SAM FAB LIMITED	Director	02-09-96	02-09-96	Active	NO
6	U32101MH1965PTC164343	D AND H SECHERON ELECTRODES PRIVATE LIMITED	Managing director	01-07-06	01-07-06	Active	NO
7	U45203MH2008PTC184216	D AND H SECHERON INFRASTRUCTURE PRIVATE LIMITED	Director	13-07-10	13-07-10	Active	NO

Name :	Mr. Arvind A. Maheshwari
Designation :	Director
Address :	22, Maket Tower, “I” Cuffe Parade, Mumbai-400005, Maharashtra, India.
Date of Birth/Age :	23.11.1971
Date of Appointment :	12.06.2003
DIN No.:	00094313

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	U51900MH1986PTC041901	D AND H SECHERON IMPEX PRIVATE LIMITED	Director	15-09-00	15-09-00	Active	NO
2	U15143MH1994PTC179433	D AND H SECHERON INDUSTRIES PRIVATE LIMITED	Director	20-06-01	20-06-01	Active	NO
3	U32101MH1965PTC164343	D AND H SECHERON ELECTRODES PRIVATE LIMITED	Whole-time director	12-06-03	12-06-03	Active	NO
4	U67120MH1985PTC037691	STEWARD TRADING AND INVESTMENT PRIVATE LIMITED	Director	01-11-06	01-11-06	Active	NO
5	U55200MH1988PTC045890	SAM HOTELIERS AND RESORTS PRIVATE LIMITED	Director	01-11-06	01-11-06	Active	NO
6	U70109MH2007PTC173070	AAM VENTURE PRIVATE LIMITED	Director	13-08-07	13-08-07	Active	NO
7	U45400MH2007PTC176128	DWEKAM REALTY PRIVATE LIMITED	Director	23-11-07	23-11-07	Active	NO
8	U70102MH2007PTC176127	D AND H SECHERON REALTY PRIVATE LIMITED	Director	23-11-07	23-11-07	Active	NO
9	U45203MH2008PTC184216	D AND H SECHERON INFRASTRUCTURE PRIVATE LIMITED	Director	02-07-08	02-07-08	Active	NO
10	U74990MH2008PTC184519	ELTECH MACHINES PRIVATE LIMITED	Director	10-07-08	10-07-08	Active	NO

Name :	Mr. Ashok H. Maheshwari
Designation :	Chairman
Address :	21-22, Maket Tower, “I” Cuffe Parade, Mumbai-400005, Maharashtra, India.
Date of Birth/Age :	12.04.1946
Date of Appointment :	14.06.1986
DIN No.:	00094358

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	U32101MH1965PTC164343	D AND H SECHERON ELECTRODES PRIVATE LIMITED	Whole-time director	14-06-86	14-06-86	Active	NO
2	U51900MH1986PTC041901	D AND H SECHERON IMPEX PRIVATE LIMITED	Director	12-01-94	12-01-94	Active	NO
3	U15143MH1994PTC179433	D AND H SECHERON INDUSTRIES PRIVATE LIMITED	Director	17-02-94	17-02-94	Active	NO
4	U45400MH2007PTC176128	DWEKAM REALTY PRIVATE LIMITED	Director	23-11-07	23-11-07	Active	NO
5	U70102MH2007PTC176127	D AND H SECHERON REALTY PRIVATE LIMITED	Director	23-11-07	23-11-07	Active	NO
6	U52393MH2008PTC180347	DIMONTE RETAIL PRIVATE LIMITED	Director	20-03-08	20-03-08	Active	NO
7	U52590MH2008PTC181670	WEEKEND RETAIL PRIVATE LIMITED	Director	28-04-08	28-04-08	Active	NO
8	U51109MH2008PTC181751	SPARTACUS RETAIL PRIVATE LIMITED	Director	29-04-08	29-04-08	Active	NO
9	U45203MH2008PTC184216	D AND H SECHERON INFRASTRUCTURE PRIVATE LIMITED	Director	02-07-08	02-07-08	Active	NO
10	U74990MH2008PTC184519	ELTECH MACHINES PRIVATE LIMITED	Director	10-07-08	10-07-08	Active	NO

Name :	Ms. Suman Maheshwari
Designation :	Director
Address :	21-22, Maket Tower, “I” Cuffe Parade, Mumbai-400005, Maharashtra, India.
Date of Birth/Age :	10.05.1950
Date of Appointment :	17.07.1986
DIN No.:	00094423

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	U55200MH1982PTC028906	SAM HOTELIERS AND HOLDINGS PRIVATE LIMITED	Director	18-12-82	18-12-82	Active	NO
2	U32101MH1965PTC164343	D AND H SECHERON ELECTRODES PRIVATE LIMITED	Whole-time director	17-07-86	17-07-86	Active	NO
3	U67120MH1985PTC037690	SAM HOLDINGS (BOMBAY) PRIVATE LIMITED	Director	01-11-90	01-11-90	Active	NO
4	U70100MH1988PTC046835	SAM PROJECT DEVELOPERS PRIVATE LIMITED	Director	01-11-90	01-11-90	Active	NO
5	U15200MH1987PTC044517	SAM FARMS AND FOODS PRIVATE LIMITED	Director	15-03-05	15-03-05	Active	NO
6	U55200MH1988PTC045890	SAM HOTELIERS AND RESORTS PRIVATE LIMITED	Director	15-03-05	15-03-05	Active	NO
7	U51900MH1986PTC041901	D AND H SECHERON IMPEX PRIVATE LIMITED	Director	17-07-06	17-07-06	Active	NO
8	U67120MH1985PTC037691	STEWARD TRADING AND INVESTMENT PRIVATE LIMITED	Director	01-11-06	01-11-06	Active	NO
9	U70109MH2007PTC173070	AAM VENTURE PRIVATE LIMITED	Director	13-08-07	13-08-07	Active	NO
10	U70109MH2007PTC173069	ANISHA REALTY PRIVATE LIMITED	Director	13-08-07	13-08-07	Active	NO
11	U45400MH2007PTC176128	DWEKAM REALTY PRIVATE LIMITED	Director	23-11-07	23-11-07	Active	NO
12	U70102MH2007PTC176127	D AND H SECHERON REALTY PRIVATE LIMITED	Director	23-11-07	23-11-07	Active	NO
13	U52393MH2008PTC180347	DIMONTE RETAIL PRIVATE LIMITED	Director	20-03-08	20-03-08	Active	NO
14	U52590MH2008PTC181670	WEEKEND RETAIL PRIVATE LIMITED	Director	28-04-08	28-04-08	Active	NO
15	U51109MH2008PTC181751	SPARTACUS RETAIL PRIVATE LIMITED	Director	29-04-08	29-04-08	Active	NO
16	U45203MH2008PTC184216	D AND H SECHERON INFRASTRUCTURE PRIVATE LIMITED	Director	02-07-08	02-07-08	Active	NO
17	U74990MH2008PTC184519	ELTECH MACHINES PRIVATE LIMITED	Director	10-07-08	10-07-08	Active	NO
18	U52100MH2008PTC178915	VENUS MULTITRADE PRIVATE LIMITED	Director	01-04-10	01-04-10	Active	NO
19	U51109WB2006PTC107236	SHINING VANIJYA PRIVATE LIMITED	Director	01-04-10	01-04-10	Active	NO
20	U52590MH2007PTC175090	SOLERTECH MULTITRADE PRIVATE LIMITED	Director	01-04-10	01-04-10	Active	NO

Name :	Mr. Parasmal Mogra
Designation :	Director
Address :	60, New Dewas Road, Indore-452003, Madhya Pradesh, India.
Date of Birth/Age :	01.06.1952
Date of Appointment :	01.07.2006
DIN No.:	00264164

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	U51900MH1987PLC042267	SAM EXIM LIMITED	Director	01-10-90	01-10-90	Active	NO
2	U32101MH1965PTC164343	D AND H SECHERON ELECTRODES PRIVATE LIMITED	Whole-time director	01-07-06	01-07-06	Active	NO
3	U45203MH2008PTC184216	D AND H SECHERON INFRASTRUCTURE PRIVATE LIMITED	Director	14-08-10	14-08-10	Active	NO

Name :	Mr. Ashok Mehta
Designation :	Director
Address :	3-D, “Padm Prabh”, 11/3 Manoramaganj, Geeta Bhawan Road, Indore-452001, Madhya Pradesh, India.
Date of Birth/Age :	27.09.1957
Date of Appointment :	12.06.2003
DIN No.:	01605598

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	U24232MP1987PTC004045	HOD LABORATORIES PRIVATE LIMITED	Director	15-07-94	15-07-94	21-12-11	Active	NO
2	U32101MH1965PTC164343	D AND H SECHERON ELECTRODES PRIVATE LIMITED	Director	12-06-03	12-06-03	-	Active	NO
3	U51109MP1995PLC008908	VELOCITY LIMITED	Director	01-03-04	01-03-04	10-06-09	Active	NO
4	L24118MH1976PLC136836	ANIK INDUSTRIES LIMITED	Director	27-09-04	27-09-04	-	Active	NO
5	U67110MP2006PLC018933	MADHYA PRADESH STOCK EXCHANGE LIMITED	Director	20-09-08	04-09-06	-	Active	NO
6	U51109WB2007PTC112927	LILAC GOODS PRIVATE LIMITED	Director	02-02-09	02-02-09	-	Active	NO
7	U85100GJ2005PTC046903	INNOVATIVE HEALING SYSTEMS (GUJARAT) PRIVATE LIMITED	Additional director	10-05-10	10-05-10	17-12-10	Active	NO
8	U45203MH2008PTC184216	D AND H SECHERON INFRASTRUCTURE PRIVATE LIMITED	Director	13-07-10	13-07-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mandar
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2011

Names of Shareholders	No. of Shares
Sam Holding (Bombay) Private Limited (India)	188759
Sam Farms and Food Private Limited (India)	175103
Sam Project Developers Private Limited (India)	172350
Sam Spintex Limited (India)	29921
Dwekam Weldtech Limited (India)	42068
Celestical Commercial Private Limited (India)	5477
Sam Capital Market Limited (India)	22314
Sam Hoteliers and Resorts Private Limited (India)	23334
Steward Trading and Investment Private Limited (India)	6999
Suman A. Maheshwari and Geetanjali A. Maheshwari	3248
Suman A. Maheshwari and Seema A. Maheshwari	2941
Seema A. Maheshwari and Suman A. Maheshwari	505
Gitanjali A. Maheshwari and Suman A. Maheshwari	380
Arvind A. Maheshwari “HUF”	9636
Ashutosh Maheshwari “HUF”	1065
Total	684100

AS ON 26.09.2011

Equity Shares Break Up	Percentage
Bodies corporate	97.40
Directors or relatives of Directors	1.03
Other top fifty shareholders	1.57
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Welding Electrodes.

Products :

Product Description	Item Code (ITC Code)
Coated Electrodes for Electric arc Welding	831110.00
Co2 Wires	722990.06

Exports :

Products :

Welding Electrodes

Countries :

African Countries

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

Cash, Credit

Purchasing :

Cash, Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

· Deccan Management Services Private Limited

No. of Employees :

70 (Approximately)

Bankers :

Ø Union Bank of India, 1/3, Murai Mohalla, Sanyogitaganj, Indore-452001, Madhya Pradesh, India.

Ø Citi Bank, Unit No. 1 to 4 and 101 to 106 ground and first floor, apoilo square 7/2 Race course Road, opposite Nanaijan Kothi saloarkan pratima Chouata, Indore-452007

Ø HDFC Bank

Ø ICICI Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans secured
Rupee term loans banks secured	103.379	83.113
Rupee term loans others secured	9.803	47.489
Working capital loans secured
Working capital loans banks secured	124.267	119.662
Loans taken for fixed assets secured
Loans taken for vehicles secured	10.286	13.179
Total	247.735	263.443
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans unsecured
Rupee term loans banks unsecured	6.820	4.345
Rupee term loans others unsecured	102.857	57.942
Loans directors unsecured	0.937	3.400
Interest accrued due unsecured loans
Interest accrued due other debt unsecured	0.844	1.304
Total	111.458	66.991
Union Bank of India Cash Credit Limit Rs. 110.000 Millions

Banking Relations :	--
Auditors :
Name :	G.V. Rangnekar and Company Chartered Accountant
Address :	698, M.G. Road, Topkhana, Maharashtriya Sahitya Sabha, Indore-452001, Madhya Pradesh, India.
Related Company :	· Acme Ferro Alloys Private Limited · Ankit Pulps and Boards Private Limited · Bright Minerals · De and Nephew · Deccan Dynamics · Gaurang Metals Private Limited (RM) · Ishwar Plastic Industries · Kutbi Industrial Works · Marudhar Industries Limited Unit-II · Nand and company, Jaipur · Noble Alchem Private Limited · Noble Alchem Private Limited Unit-II · Novex Poly Films Private Limited (Mumbai) · Pristar International · Raghuvansh Enterprises · Raghuvansh Packaging Private Limited · Triveni Shinton International Limited · Tun-Car India · Unique Industrial Products · Welco India Chemicals · A1Pulverizers,Mumbai · Dhariyal Polymers Limited, Ahemdabad · Fusion Chemicals and Products Private Limited, Hyderabad · K.G. Industries, Indore · Namokar Speciality Chemicals Private Limited · Pradeep Minerals, Beawer · Satyanarayan Impex Private Limited, Giridih · Swastik Metals Private Limited, Ranchi · Pack Print Industries, Mumbai · Kay Pee Dies and Tools, Ghaziabad.
Companies having substantial interest i.e. holding more than 20% shares :	· Sam Farms and Foods Private Limited · Sam Holdings (Bombay) Private Limited · Sam Project Developers Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
990000	Equity Shares	Rs.100/- each	Rs. 99.000 Millions
10000	Preference Shares	Rs.100/- each	Rs. 1.000 Million
	Total		Rs. 100.000 Millions

Issued :

No. of Shares	Type	Value	Amount
985800	Equity Shares	Rs.100/- each	Rs. 98.580 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
684100	Equity Shares	Rs.100/- each	Rs. 68.410 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		68.410	68.410	68.410
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		266.567	227.374	209.489
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		334.977	295.784	277.899
LOAN FUNDS
1] Secured Loans		247.735	263.443	187.413
2] Unsecured Loans		111.458	66.991	48.791
TOTAL BORROWING		359.193	330.434	236.204
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		694.170	626.218	514.103
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		224.136	266.706	181.091
Capital work-in-progress		1.866	15.009	91.839
INVESTMENT		211.750	192.170	78.388
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	270.763	280.728	206.255
	Sundry Debtors	112.782	68.668	87.092
	Cash & Bank Balances	68.926	42.536	78.696
	Other Current Assets	3.167	2.174	0.898
	Loans & Advances	257.644	170.929	117.479
Total Current Assets		713.282	565.035	490.420
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	200.807	191.271	142.267
	Other Current Liabilities	139.794	121.136	102.488
	Provisions	116.263	100.595	82.880
Total Current Liabilities		456.864	413.002	327.635
Net Current Assets		256.418	152.033	162.785
MISCELLANEOUS EXPENSES		0.000	0.300	0.000
TOTAL		694.170	626.218	514.103

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2349.754	1686.101	1567.454
		Other Income	2150.074	14.545	12.598
		TOTAL (A)	4499.828	1700.646	1580.052
Less	EXPENSES
		Raw Materials, Packing Materials, Finished Goods and Semi-Finished Goods	4394.399	982.010	915.545
		Manufacturing Expenses		108.105	78.484
		Selling and Distribution Expenses		153.026	142.131
		Payments to and Provision for Employees		134.443	115.737
		Director’s Remuneration		31.142	30.140
		Administrative and Other Expenses		160.495	161.631
		Loss on Sale of Forward Contract		0.000	0.372
		Loss on Sale of Shares		0.000	10.131
		TOTAL (B)	4394.399	1569.221	1454.171
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[Financial Expenses	131.425	125.881
			And
Less	FINANCIAL EXPENSES (D)		Depreciation]	28.912	30.129
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			102.513	95.752
Less/ Add	DEPRECIATION/ AMORTISATION (F)			21.233	17.089
	PROFIT BEFORE TAX (E-F) (G)		105.429	81.280	78.663
Less	TAX (H)		34.207	27.636	30.549
	PROFIT AFTER TAX (G-H) (I)		71.222	53.644	48.114
Add	Previous Year’s income/provision written back		0.635	1.155	7.586
Less	Previous year Expenses		0.473	4.376	0.394
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10.589	8.979	2.065
Less	APPROPRIATIONS
		Transfer to General Reserve	30.000	20.000	20.000
		Interim Dividend	16.418	0.000	12.134
		Tax on Interim Dividend	2.727	0.000	2.062
		Proposed Dividend	8.209	24.628	12.134
		Tax on Proposed Dividend	1.332	4.185	2.062
	BALANCE CARRIED TO THE B/S		23.287	10.589	8.979
	Earnings Per Share (Rs.)		104.11	73.70	64.30

Expected Sales (2011-2012) : Rs. 2400.000 Millions

The above information has been parted by Mr. Mandar.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.58	3.15	3.05
Net Profit Margin (PBT/Sales)	(%)	4.49	4.82	5.02
Return on Total Assets (PBT/Total Assets}	(%)	11.25	9.77	11.71
Return on Investment (ROI) (PBT/Networth)		0.31	0.27	0.28
Debt Equity Ratio (Total Liability/Networth)		2.44	2.51	2.03
Current Ratio (Current Asset/Current Liability)		1.56	1.37	1.50

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS

(Rs in Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors
Creditors Due Others	200.807	191.271	142.267
Total	200.807	191.271	142.267

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constructions of the firm	Yes
4. Premises details	Yes
5. Type of Business	Yes
6. Line of Business	Yes
7. Promoter’s background	-------
8. No. of Employees	Yes
9. Name of person contacted	Yes
10. Designation of contact person	Yes
11. Turnover of firm for last three years	Yes
12. Profitability for last three years	No
13. Reasons for variation <> 20%	No
14. Estimation for coming financial year	Yes
15. Capital in the business	No
16. Details of sister concerns	Yes
17. Major suppliers	No
18. Major customers	Yes
19. Payments terms	Yes
20. Export / Import details	Yes
21. Market information	------
22. Litigations that the firm / promoter involved	------
23. Banking Details	Yes
24. Banking facility details	Yes
25. Conduct of the banking account	------
26. Buyer visit details	------
27. Financials, if provided	No
28. Incorporation details, if applicable	------
29. Last accounts filed at ROC	------
30. Major Shareholders, if available	------

CHANGE OF ADDRESS :

Registered office of the company has been shifted from 44/46, Industrial Estate, Kila Maidan, Indore, Madhya Pradesh, India to the present address w.e.f. 03.08.2006

PERFORMANCE

During the year, the company has posted appreciable operating performance in terms of enhancement in overall sales and maintenance of sales realization.

The Gross sales and other income of the company have gone up by about 27.59%, Total cost of goods produced appreciated by about 30.77%. Selling and Administrative expenses rose by 7.90%. The Management is keeping the controllable costs under control and upgraded its sales performance during the year. The Directors have also undertaken expansion at Dakachya and Sanwer plant at Indore where additional machineries have been installed.

FUTURE OUTLOOK

The Directors are hopeful for a better performance of the company in the year 2011-12 for the fact that general economic indicators of the country have improved a lot from last year and industries have shown good performance in the financial year ended. The company, during the year, despite liquidity constraints, continued with the modernization program at Dakachya and Sanwer. The company would be able to properly and effectively wither away any kind of competition which is envisaged in near future. The Directors are very much hopeful of bright performances in the years to come.

CONTINGENT LIABILITIES NOT PROVIDED:

(a) In respect of counter guarantee given to banks, for issuing performance guarantee to third parties of Rs 1.670 Millions (Previous year Rs. 1.418 Millions The Company has also provided Corporate Guarantee of pound sterling 15, 50,000 (INR 10.50 Crores Approx) to Barclays Private Clients International Limited for additionally securing the financial assistance being provided by the said bankers to our wholly owned subsidiary company D and H Secheron (Overseas) Limited Isle of Man.

(b) In respect of partly paid debentures Rs. 0.022 Million

(c) In respect of disputed entry tax, CST and VAT of Rs. 1.764 Millions for which the Company has already preferred appeal to concerned appellant authority (Previous year dues Rs. 2.256 Millions.

FORM 8

Corporate identity number of the company	U32101MH1965PTC164343
Name of the company	D AND H SECHERON ELECTRODES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	213 D/215 D, Vishnu Shopping Centre, Plot No.37, Sector 15, CBD Belapur, Navi Mumbai-400 614, Maharashtra, India.
This form is for	Modification of charge
Type of charge	Immovable property Movable property (not being pledge)
Particular of charge holder	Union Bank of India, 1/3, Murai Mohalla, Sanyogitaganj, Indore-452001, Madhya Pradesh, India.
Nature of instrument creating charge	Memorandum of Entry
Date of instrument Creating the charge	20.12.2010
Amount secured by the charge	Rs. 210.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Term Loan : Base Rate + 5.00% p.a. with the monthly rests for the value received. CC : Base Rate + 4.25% p.a. with the monthly rests for the value received. Terms of repayment Term Loan : Rs. 60.000 Millions No. of Installments : 60 Amount of Installment : Rs. 1.000 Million Tenure : 60 months Margin 25% : Margin on stocks, book debts, plat and machinery 25% : Cash Margin Extent and operation of the charge Security created by way of first charge and to cover the principal amount together with interest, charges, costs and expenses. Other Facilities:- Fund Based :- CC (H) : Rs. 125.000 Millions (Including Rs. 15.000 Millions W/W UDBP 90 days DA) Term Loan : Rs. 60.000 Millions Non Fund Based :- L/C : Rs. 20.000 Millions LG : Rs. 5.000 Millions Total : Rs. 210.000 Millions
Short particulars of the property charged (Including location of the property)	Hypothecation of all tangible movable machineries, plant, machinery, fixture, fittings, other installations, crane, furniture, computer and other accessories, vehicles together with spares, tools and all other articles lying on the premises or in the godown of the borrowers or in the custody of Mercantile agents of the borrower or in the course of transit. Equitable Mortgage of factory land and building situated at Plot No. 44-46 Industrial Estate, Kila Maidan, Indore. (Factory Land is on Lease for 99 years out of which residual lease period is 58 years.) Equitable Mortgage of Office Premises area 2140sq. ft. at 5th Floor (west wing) Merchant Chamber, New Marine Lines Mumbai.
Charge identification number of the charge to be modified	10008273
Date of instrument modifying the charge	07.12.2010
Particulars of the present modification	Existing credit facilities further secured by equitable mortgage of immovable properties.

TRADE REFERENCES:

· Deccan Management Services Private Limited

FIXED ASSETS:

Ø Land

Ø Buildings

Ø Plant and Machinery

Ø Generator Set

Ø Electrical and Water Installation

Ø Office Equipments and Furniture

Ø Laboratory Equipments

Ø Cycle Stand

Ø Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No 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. 50.28
UK Pound	1	Rs. 77.60
Euro	1	Rs. 64.66

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.