1. Summary Information

		Country	India
Company Name	WINSOME TEXTILE INDUSTRIES LIMITED	Principal Name 1	Mr. Satish C Bagrodia
Status	Satisfactory	Principal Name 2	Mr. Ashish Bagrodia
		Registration #	06-005647
Street Address	1 Industrial Area, Baddi, Solan - 173205, Himachal Pradesh, India
Established Date	18.09.1980	SIC Code	--
Telephone#	91-172-2603966	Business Style 1	Manufacture
Fax #	91-172-4614000	Business Style 2	--
Homepage	http://www.winsomegroup.com	Product Name 1	Yarn
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.198,200,000/-	Product Name 3	--
Shareholders	shareholding of Promoter and Promoter - 49.20% Public shareholding - 50.80%	Banking	UCO Bank
Public Limited Corp.	Yes	Business Period	32 Years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	Ba (42)
Related Company
Relation	Country	Company Name	CEO
Associate company:	--	Winsome Yarn Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1350,950,000	Current Liabilities	664,865,000
Inventories	1248,160,000	Long-term Liabilities	2300,095,000
Fixed Assets	1531,598,000	Other Liabilities	242,642,000
Deferred Assets	0,000	Total Liabilities	3,207,602,000
Invest& other Assets	83,866,000	Retained Earnings	808,772,000
		Net Worth	1006,972,000
Total Assets	4,214,574,000	Total Liab. & Equity	4,214,574,000
Total Assets (Previous Year)	2932,335,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	3497,074,000	Net Profit	135,532,000
Sales(Previous yr)	2196,405,000	Net Profit(Prev.yr)	2,729,000

MIRA INFORM REPORT

Report Date :

02.07.2012

IDENTIFICATION DETAILS

Name :	WINSOME TEXTILE INDUSTRIES LIMITED
Registered Office :	1 Industrial Area, Baddi, Solan - 173205, Himachal Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.09.1980
Com. Reg. No.:	06-005647
Capital Investment / Paid-up Capital :	Rs.198.200 millions
CIN No.: [Company Identification No.]	L17115HP1980PLC005647
TAN No.: [Tax Deduction & Collection Account No.]	PTLW10079G / PTLW10032B
PAN No.: [Permanent Account No.]	AAACW1910G
Legal Form :	A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.
Line of Business :	Engaged in the business of manufacturing and marketing of Cotton Yarn.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 4027000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. But there appears some loss in the current year (i.e.2011-2012). However, trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealing at usual trade terms and condition.

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/ Factory :	1 Industrial Area, Baddi, Solan - 173205, Himachal Pradesh, India
Tel. No.:	91-172-2603966/ 4612000/ 4613000
Fax No.:	91-172-4614000
E-Mail :	psnl.bd@winsomegroup.com cswtill@winsomegroup.com
Website :	http://www.winsomegroup.com
Head Office :	Flat 2C & 2D, Paramount Building, 25, Ballygunge Circular Road, Calcutta - 700 019, West Bengal
Tel. No.:	91- 33-2475 7811, 2475 7812, 2475 8313
Fax No.:	91-33-2475 6759
Marketing Office :	12/22, East Patel Nagar, Groud Floor , Main Market, New Delhi, India
Tel. No.:	91-11-25725462
Fax No.:	91-11-25254627
E-Mail :	mktgdel@winsomegroup.com
Corporate Office :	Office SCO 191 - 192, Sector 34-A, Chandigarh - 160 022
Tel. No.:	91-172-2603966 / 2662232 / 2600594 / 2606709 91-172-2612 447 (Direct - Export Deptt.)
Fax No.:	91-172-2603804
E-Mail :	exports@winsomegroup.com
Factory 2 :	Vill Kurawala, Barwala Road Derabassi, Dist. Patiala ( Punjab),
Tel. No.:	91-1762-280236 / 280638
Fax No.:	91-1762-270237
E-Mail :	nkm@winsomegroup.com
Factory 3:	B-58, Phase VII, Industrial Area, Mohali-160059, India
Tel. No.:	91-172-5053138/5053139/5095870/5095870/5092400/5092397
Fax No.:	91-172-5090572
E-Mail :	knitwear@winsomegroup.com
Branches :	B/IV, Aggarwal Sadan, Daseri Road, Ludhiana, Punjab 9063/C, Ram Bagh Road, Delhi - 110 007

DIRECTORS

As on 31.03.2011

Name :	Mr. Satish C Bagrodia
Designation :	Chairman
Name :	Mr. Ashish Bagrodia
Designation :	Managing Director
Name :	Rajeev Kumar
Designation :	Director (IDBI Nominee)
Name :	Mr. Chandra Mohan
Designation :	Director
Name :	Mr. Satish Girotra
Designation :	Director
Name :	Mr. Manish Bagrodia
Designation :	Director

KEY EXECUTIVES

Name :	Shri Sourabh Gupta
Designation :	Company Secretary
Audit Committee :	· Shri Chandra Mohan · Shri Rajeev Kumar · Shri Satish Girotra
Shareholders/Investors Grievance Committee :	· Shri Satish Girotra, Chairman · Shri Chandra Mohan · Shri Rajeev Kumar · Shri Ashish Bagrodia

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2012

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	147660	1.10
Bodies Corporate	6431046	48.10
Sub Total	6578706	49.20
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	6578706	49.20
(B) Public Shareholding
(1) Institutions
Financial Institutions / Banks	419649	3.14
Sub Total	419649	3.14
(2) Non-Institutions
Bodies Corporate	5629416	42.10
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Million	335994	2.51
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million	280197	2.10
Any Others (Specify)	126038	0.94
Non Resident Indians	126017	0.94
Trusts	21	--
Sub Total	6371645	47.66
Total Public shareholding (B)	6791294	50.80
Total (A)+(B)	13370000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
Public	6450000	--
Sub Total	6450000	--
Total (A)+(B)+(C)	19820000	--

BUSINESS DETAILS

Line of Business :

Engaged in the business of manufacturing and marketing of Cotton Yarn.

Product:

Item Code No.	Product Description
520500	Cotton Yarn containing 85% or more of cotton
520600	Cotton Yarn containing less than 85% cotton
550931	Yarn of Synthetic Staple Fibre Containing 85% or more of Acrylic

PRODUCTION STATUS (31.03.2011)

Particulars	Unit	2010-2011
Licensed Capacity	MT	70,000 Spindles
Installed Capacity		64,896 Spindle

Particulars	Opening Stock		Actual Production
	Qty. (MT)	Value
Yarn	887.902	1427.65	1314.730
	(562.040)	(825.15)
Waste		78.01
		(52.79)

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· UCO Bank

· Canara Bank

· Bank of India

· Andhra Bank

Facilities :

SECURED LOAN	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Term Loans	1107.460	1196.262
Working Capital Term Loan	176.337	200.000
Cash Credit / Packing Credit /Working Capital Demand Loan	704.597	616.299
Short Term Loan	300.000	0.000
Equipment Finance	0.000	0.206
Vehicle Finance	11.701	3.774
Total	2300.095	2016.541
NOTES:- 1. Term Loans and Working Capital Term Loans from Banks of Rs. 1283.797 Millions (P.Y. Rs. 1396.262) are secured by Joint Equitable Mortgage by deposit of title deeds on company’s immovable properties (present and future) which shall be on first charge basis, shall rank pari-passu with all banks and a charge by way of hypothecation of all movable fixed assets subject to prior charge on specified equipments to banks for term loan. Above Term loans are further secured by pari-passu second charge on entire current(present and future) assets of the company. 2. Cash Credit, Packing Credit and Working Capital Demand Loan and Short Term Loan from Banks are secured by First Charge by Hypothecation of Raw Material, Stock in Process, Finished Goods, Consumable Store and Spares, Goods in Transit, Book Debts and by Second Charge on entire Fixed Assets of the Company on Pari-passu basis with Working Capital lenders. 3. All the aforesaid credit facilities mentioned at point no. 1 to 2 here in above are also guaranteed by Chairman and Whole Time Director and Managing Director. 4. Vehicle Finance is secured by hypothecation of specific assets purchased under such arrangements. Amount repayable within one year Rs 2.785 millions ( PY Rs 1.339 millions) 5. Equipment Finance Loan is secured against the respective equipment finance. Amount repayable within one year Nil (Previous year Rs. 0.206 Millions.)

Banking Relations :	--
Auditors :
Name :	Lodha and Company Chartered Accountant
Address :	12, Bhagat Sing Marg, New Delhi, India
Associate company:	Winsome Yarn Limited
Organisations where Key Management Personnel and their relative have Significant influence:	· Star point Financial Services Private Limited · Roselab Commodities Private Limited · Kailashpati Vinimay Private Limited · Amounts due by enterprises under the same management

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
249500000	Equity Shares	Rs.1/- each	Rs.249.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
198200000	Equity Shares	Rs.1/- each	Rs.198.200 millions

Note:

1) During the year company issued and alloted 12,90,000 Global Depository Receipts (GDRs) representing 6,45,00,000 equity shares of Re 1/- each at a premium of Rs. 5.94 per share (Refer note no. 5 of schedule 14(B)

2) During the year company allotted 6,06,00,000 equity shares of Re. 1/- each at a premium of Rs 1.40 each upon

conversion of equal number of warrants allotted on preferential basis (Refer note no. 4(ii) of Schedule 14(B)

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		198.200	73.100	58.700
2] Convertible Warrant		0.000	64.488	18.000
3] Reserves & Surplus		808.772	243.541	221.200
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1006.972	381.129	297.900
LOAN FUNDS
1] Secured Loans		2300.095	2016.541	1551.700
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		2300.095	2016.541	1551.700
DEFERRED TAX LIABILITIES		175.885	112.132	249.700
TOTAL		3482.952	2509.802	2099.300
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1531.598	1613.838	1644.400
Capital work-in-progress		83.556	35.246	47.100
INVESTMENT		0.310	0.001	0.000
DEFERREX TAX ASSETS		0.000	0.000	139.200
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1248.160	709.189	302.400
	Sundry Debtors	429.293	273.852	209.100
	Cash & Bank Balances	497.055	47.534	39.000
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	424.602	252.675	210.200
Total Current Assets		2599.110	1283.250	760.700
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	171.104	127.602
	Other Current Liabilities	493.761	274.443	463.700
	Provisions	66.757	20.488	31.100
Total Current Liabilities		731.622	422.533	494.800
Net Current Assets		1867.488	860.717	265.900
MISCELLANEOUS EXPENSES		0.000	0.000	2.700
TOTAL		3482.952	2509.802	2099.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	3497.074	2196.405	1685.300
		Other Income	19.144	9.339	52.900
		TOTAL (A)	3516.218	2205.744	1738.200
Less	EXPENSES
		Office Expenses	2285.990	1221.919
		Manufacturing and Operational Expenses	904.377	746.931
		Increase/(Decrease) in Stocks	(193.411)	(78.597)
		TOTAL (B)	2996.956	1890.253	1631.900
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		519.262	315.491	106.300
Less	FINANCIAL EXPENSES (D)		201.988	200.586	188.400
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		317.274	114.905	(82.100)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		113.414	110.191	105.300
	PROFIT BEFORE TAX (E-F) (G)		203.860	4.714	(187.400)
Less	TAX (I)		68.328	1.985	52.500
	PROFIT AFTER TAX (G-I) (J)		135.532	2.729	(134.900)
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		141.518	138.789	273.700
	APPROPRIATIONS
		Proposed Dividend	19.820	0.000	0.000
		Corporate Dividend Tax	3.269	0.000	0.000
	BALANCE CARRIED TO THE B/S		253.961	141.518	138.800
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1664.735	600.404	0.000
	TOTAL EARNINGS		1664.735	600.404	0.000
	IMPORTS
		Raw Materials	27.845	8.301	0.000
		Capital Goods	5.124	27.543	0.000
		Stores & Spares	14.696	13.000	0.000
	TOTAL IMPORTS		47.665	48.844	0.000
	Earnings Per Share (Rs.) Basic -		1.06	0.05	Na
	Diluted -		1.01	0.03	Na

QUARTERLY RESULTS

PARTICULARS	30.06.2011	30.09.2011	31.12.2011	31.03.2012
Type	1^st Quarter	2^nd Quarter	3^nd Quarter	4^th Quarter
Net Sales	921.500	810.100	707.400	736.500
Total Expenditure	811.400	900.000	653.100	546.500
PBIDT (Excl OI)	110.100	(89.900)	54.300	190.000
Other Income	0.000	35.200	49.000	(46.800)
Operating Profit	110.100	(54.700)	103.300	143.200
Interest	76.700	69.400	69.000	79.900
PBDT	33.400	(124.100)	34.300	63.300
Depreciation	28.600	28.900	28.800	28.800
Profit Before Tax	4.800	(153.000)	5.500	34.500
Tax	0.000	0.000	0.000	(15.900)
Profit After Tax	4.800	(153.000)	5.500	50.400
Net Profit	4.800	(153.000)	5.500	50.400

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.85	0.12	(7.76)
Net Profit Margin (PBT/Sales)	(%)	5.83	0.21	(11.11)
Return on Total Assets (PBT/Total Assets}	(%)	4.94	0.16	(7.79)
Return on Investment (ROI) (PBT/Networth)		0.20	0.01	(0.63)
Debt Equity Ratio (Total Liability/Networth)		3.01	6.40	6.69
Current Ratio (Current Asset/Current Liability)		3.55	3.03	1.53

LOCAL AGENCY FURTHER INFORMATION

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

OPERATIONS AND PERFORMANCE

During the year the Company has achieved a sales turnover of Rs. 3497.074 millions as against sales

turnover of Rs. 2196.405 millions during the previous year and a net profit (after tax) of Rs.135.532 millions for the year as against net profit (after tax) of Rs. 2.729 millions during the previous year. The Sales turnover has increased by approximately 37.19 %.

In the current financial year 2010-11, besides recovery in global economic environment, domestic demand for textile products has been very strong giving the much needed positive thrust to the textile industry. There is a revival in consumer demand for textile products in domestic as well as export markets. This helped the Company to steadily increase its capacity utilization and leading to improvement in financial performance as well. The Company continues with its task to build businesses with long-term goals based on its intrinsic strengths in terms of its quality manufacturing prowess, wide distribution network and strong customer relationships. To accelerate further value creation, the Company continues to evaluate new areas of growth and expansion. The initiatives aimed at rationalising and streamlining operations, to bring about efficiencies and reducing costs, remain top priority.

NEW PROJECTS/ EXPANSION PLANS

The Company is in process of expanding its areas of operations. The Company is planning to setup another Spinning unit with the capacity of 40,800 spindles and Circular Knitting unit in Himachal Pradesh at an investment of approximately Rs. 2000.000 millions The Company will be shortly submitting the project report to the banks for funding this expansion plan.

The construction of the Company's Hydro Power Project at District Kangra, Manuni Khad (H.P.) is going on swiftly and the Company is making its consistent efforts to complete within the current financial year.

IS/ISO 9001-2008 & 14001-2004

The Directors are pleased to inform you that the Company continues to be holder of IS/ISO 9001-2008 Quality

Management System Certificate and IS/ISO 14001-2004 Environmental Management System Certificate, issued by Bureau of Indian Standard.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

OVERVIEW OF ECONOMY AND INDIAN TEXTILE INDUSTRY

The Indian textile industry is one of the largest and oldest in the country and among the most important in the economy in terms of output, employment generation and export earnings. This sector employs nearly 35 million people and it is the second highest employer after agriculture. It has its huge role in the economic development of the Country. Apart from providing one of the necessities of life i.e. clothing, the textile industry accounts for around nearly 4 per cent of GDP, 14 percent of the country's industrial output and about 17 percent of export income.

The India's share in the global textile market is projected to grow from 4 percent to 7 percent by 2011-12 and the share of apparel exports alone is expected to increase from 48 percent to 60 percent of India's total Textiles and Clothing exports. India has a large natural fibre base and ranks as the world's second leading producer of cotton, accounting for 21 percent of the world's total cotton production. In the man-made fibre sector, India is the world second largest producer of polyester fibres and filament yarns and one of the largest producers of cellulosic fibres and filament yarns.

India is diversified and is capable of producing a wide variety of textiles. The spinning segment is moderately modernized and competitive, accounting for about 24 percent of the world cotton yarn exports. The Indian textile

industry is one of the largest in the world with a massive raw materials and textile-manufacturing base and currently India has attained the position of having second highest spindle age in the world after China. went through a tough year struggling with the surging and fluctuating prices of raw materials. However, the Government is making efforts in boosting the textile industry through various initiatives and investments are increasing steadily. The Ministry of Textiles has further extended the Technology Up gradation Fund Scheme (TUFS) till March 2012. The industry is expected to continue to grow at a significant rate in the future, as it is fuelled by a strong domestic consumption.

COTTON SCENARIO

The Cotton Advisory Board has estimated the cotton crop for the season 2010-11 at 31.200 lakh bales. In this cotton

season, the per hectare yield has dropped to 475 kgs. as against 486 kgs. achieved in the season 2009-10. The decline in productivity and production has come about mainly on account of unfavorable weather conditions in the

beginning of the season. Cotton, an agricultural product is the key raw material for manufacture of cotton yam and

cotton crop largely depends on monsoon.

With the prediction of normal monsoon for the coming season and other favourable factors like higher cotton prices in the current season, farmers will find it attractive to increase area under cotton cultivation due to growing awareness among farmers for adoption of better technology and augmented supply of a good quality seed hopefully, cotton production in the coming season will increase. Even globally also cotton production in the coming year is projected to be higher than the current year.

REVISED AUDITED FINANCIAL RESULT FOR THE SECOND QUARTER ENDED 31.03.2012

(Rs. In Millions)

Particulars	31.03.2011	31.12.2011	31.12.2011
	Quarter Ended (Unaudited)		Year Ended (Audited)
a) Net Sales/Income from Operations	736.500	704.000	3162.400
b) Other operating Income	--	--	-
Total Income from Operations	736.500	704.000	3162.400
Expenses
a) cost of materials Consumed	437.600	351.700	1923.900
b) Purchase of Traded Goods	--	1.300	128.600
c) Change in Inventories of finished goods and work in progress	(116.200)	59.200	(34.200)
d) Employees benefits Expenses	44.600	46.300	182.300
e) Depreciation and amortisation Expenses	28.800	28.800	115.100
f) Power and Fuel	69.800	65.600	265.200
g) stores and spares consumed	55.800	32.900	171.800
f) Other expenditure	54.900	96.100	273.400
Total Expenses	575.300	681.900	3026.100
Profit from Operations before Other Income, Interest and Exceptional items (1-2)	161.200	22.100	136.300
Other Income	(46.800)	52.400	50.500
Profit before Interest and Exceptional items (3-4)	114.400	74.500	186.800
a) Interest and Financial Charges	79.900	69.000	295.000
Profit Before Tax	34.500	5.500	(108.200)
Provision for Tax Expenses	(15.900)	0.000	(15.900)
Net Profit After Tax	50.400	5.500	(92.200)
Extraordinary items (net of Tax)	--	--	--
Net Profit and Loss Period (11-12)	50.400	5.500	(92.200)
Paid-Up Equity Share Capital	1982	1982	1982
(Face Value of Rs.10/- each)
Reserves excluding Revaluation Reserve as per Balance Sheet of previous Accounting Year	--	--	--
Earning Per Share (EPS) (not annualised)	--	--	--
i) Basic (Rs)	2.54	0.28	(4.65)
ii) Diluted (Rs)	2.54	0.28	(4.65)
Particulars of share holdings
- Number of shares *	13241294	13240300	13241294
- Percentage of shareholding	66.80%	66.80%	66.80%
Promoters and Promoter Group shareholding
a) Pledged/ Encumbered	--	--	--
- Number of shares	--	--	--
- Percentage of share (as % of the total shareholding of Promoter group)	--	--	--
- Percentage of share (as % of the total share capital of the Company)
b) Non-Encumbered
- Number of shares	6578706	6578706	6578706
- Percentage of share (as % of the total shareholding of Promoter group)	100%	100%	100%
- Percentage of share (as % of the total share capital of the Company)	33.20%	33.20%	33.20%

Particulars	3 month (31.03.2012)
B INVESTORS COMPLAINTS
Pending at the beginning of the Quarter	0
Received During the Quarter	1
Disposed During the Quarter	1
Remaining Unresolved at the End Of the Quarter	0

REVISED AUDITED STATEMENT AUDITED OF ASSETS AND LIABILITIES 31.MARCH 2012

S. N.	Particulars		31.03.2012
			Standalone
			Audited Standalone for the year ended
A	EQUITY AND LIABILITIES
1.	Shareholders’ Funds
	a)	Share Capital	198.200
	b)	Reserves & Surplus	715.700
	Sub-total- Shareholders' funds		913.900
2.	Non- Current Liabilities
	a)	Long-term borrowings	1037.200
	b)	Deferred Tax-liabilities (net)	159.900
	c)	Other long-term liabilities	2.500
	d)	Long-term provisions	2.200
	Sub-total-Non-current liabilities		1201.800
5	Current liabilities
	a)	Short-term borrowings	1155.800
	b)	Trade payables	843.500
	c)	Other current liabilities	325.500
	d)	Short-term provisions	16.900
	Sub-total-current liabilities		2341.700
	TOTAL-EQUITY AND LIABILITIES		4457.400
B	ASSETS
3.	Non-current assets
	a)	Fixed assets
	b)	Tangible Assets	1753.400
	c)	Intangible Assets	--
	d)	Non-current investments	0.700
	e)	Long-term loans and advances	104.500
	Sub-total-Non-current assets		1858.600
4.	Current Assets
	a)	Inventories	1061.500
	b)	Trade receivables	366.200
	c)	Cash and cash equivalents	595.000
	d)	Short-term loans and advances	576.100
	Sub-total-current assets		2598.800
	TOTAL-ASSETS		4457.400

NOTE:

1.The Consolidated Financial Results of Winsome Textile Industries Limited are complied from the consolidated financial statements prepared in accordance with the principles and procedures for the preparation and presentation of consolidated accounts as set out in the Accounting Standards 21 on 'Consolidation of Financial statements' as notified under the Companies act, 1956

2. The proceeds of preferential issue of securities has been utilised for the purposes as stipulated and balance amount have been parked into Working Capital.

3. Out of the total issue proceeds of the GDRs in the previous year of Rs.447.588 Millions, pending certain compliances Rs.458.669 Millions (including foreign exchange gain) is parked in the Bank "Escrow" Account outside India as on year end and accordingly the balance issue proceeds are pending to be utilized. From Escrow Account, Rs. 56.160 Millions has been received during the year, out of which Rs. 22.291 Millions has been utilised for the new expansion project.

4 Auditors Remarks on the accounts for the year ended 31st March 2012 : (a) Non provision for short fall in recovery against overdue debts of Rs. 18.574 Millions (amount unascertained), Management Response : These debt are good for recovery.

5 The company's operations predominantly comprises of only one segment- Yarn and Allied Activities.

6 During the year, the company has formed a 100% owned subsidiary in the name M/s Winsome Textile Industries FZE incorporated on 22nd June, 2011 and hence there is no comparable figures in the consolidated financial statements.

7 During the year, company's new fabric unit has commenced production from 30th March, 2012

8 The face value of equity share capital has been consolidated on 19/07/11 from Rs. 1/- to Rs. 10/-each. Accordingly the no. of equity shares have been decreased and also EPS for the preceding period(s) have been revised/reinstated.

9 Corresponding period/year figures have been regrouped/ rearranged wherever considered necessary.

10 The above results have been taken on record by the audit committee and approved by the board of directors in their meeting held on 30th May, 2012.

FIXED ASSETS

· Leasehold Land

· Freehold Land

· Building

· Plant and Machinery

· Furniture & Fixtures

· Office Equipments

· 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.56.31
UK Pound	1	Rs.88.06
Euro	1	Rs.70.91

INFORMATION DETAILS

Report Prepared by :

DPK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	4
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		42

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.