MIRA INFORM REPORT

Report Date :

04.07.2012

IDENTIFICATION DETAILS

Name :	ALLIANCE ONE INDUSTRIES INDIA PRIVATE LIMITED
Formerly Known As :	DELTA TOBACCO INDUSTRIES LIMITED
Registered Office :	Plot No. 490, Road No. 10, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.08.1994
Com. Reg. No.:	01-018146
Capital Investment / Paid-up Capital :	Rs.135.000 Millions
CIN No.: [Company Identification No.]	U16001AP1994PTC018146
TAN No.: [Tax Deduction & Collection Account No.]	HYDT01583B
PAN No.: [Permanent Account No.]	AAACT8064A
Legal Form :	Private Limited Liability Company
Line of Business :	To Commence and carry on the business of Planters, Growers, Producers, Curers, Manufacturers, Merchants, Importers and Exporters of all Agricultural Products and all other food material including material of animal origin, fuel oils, lubricants and such other articles allied to the above, turmeric, sugarcane, pepper, coffee, tea, cardamom cineraria, chilies and all kinds of Agricultural Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 1900000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. There appears a slight dip in the sales turnover during the year 2011. 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 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 :	Plot No. 490, Road No. 10, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India
Tel. No.:	91-863-3058409
Fax No.:	91-863-3058438
E-Mail :	admin@aoiindia.com

DIRECTORS

As on 22.09.2011

Name :

Mr. Chebrolu Narendranath

Designation :

Managing Director

Address :

A2 Suryodaya Apartments, 2^nd Line Navabharat Nagar, Guntur – 522006, Andhra Pradesh, India

Date of Birth/Age :

06.01.1960

Date of Appointment :

17.08.1994

DIN No.:

00029001

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U16001AP1992PTC013650	DELTA TOBACCO COMPANY PRIVATE LIMITED	Managing director	3/01/1992	3/01/1992	-	Active	NO
2	U05005AP1993PTC015399	STAR AQUA FOODS PRIVATE LIMITED	Director	16/02/1993	16/02/1993	-	Active	NO
3	U16001AP1994PTC018146	ALLIANCE ONE INDUSTRIES INDIA PRIVATE LIMITED	Director	10/04/2012	17/08/1994	-	Active	NO
4	U51909AP1994PTC018335	SITEC EXPORTS PRIVATE LIMITED	Managing director	1/10/1997	19/09/1994	-	Active	NO
5	U16001AP1997PTC026476	GHANTA RAJENDRAPRASAD TOBACCO COMPANY PRIVATE LIMITED	Managing director	26/04/2001	26/04/2001	-	Active	NO
6	U45200AP2004PTC043876	MADHU INFRASTRUCTURE PRIVATE LIMITED	Director	11/08/2004	11/08/2004	-	Active	NO
7	U16001AP1991PTC013559	NANDI TOBACCOS PRIVATE LIMITED	Managing director	22/11/2004	22/11/2004	-	Active	NO
8	U72200AP2006PTC049878	DELTA TECHNOLOGY AND MANAGEMENT SERVICES PRIVATE LIMITED	Managing director	17/04/2006	17/04/2006	18/03/2010	Active	NO
9	U72900AP2006FTC051133	INFOSTEP INDIA PRIVATE LIMITED	Additional director	23/06/2011	23/06/2011	-	Active	NO

Name :

Mr. Chebrolu Srilakshmi

Designation :

Director

Address :

A2 Suryodaya Apartments, 2^nd Line Navabharat Nagar, Guntur – 522006, Andhra Pradesh, India

Date of Birth/Age :

23.09.1966

Date of Appointment :

09.07.1997

DIN No.:

00029016

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U16001AP1992PTC013650	DELTA TOBACCO COMPANY PRIVATE LIMITED	Director	3/01/1997	3/01/1997	-	Active	NO
2	U16001AP1994PTC018146	ALLIANCE ONE INDUSTRIES INDIA PRIVATE LIMITED	Director	9/07/1997	9/07/1997	-	Active	NO
3	U51909AP1994PTC018335	SITEC EXPORTS PRIVATE LIMITED	Director	1/10/1997	1/10/1997	-	Active	NO
4	U16001AP1997PTC026476	GHANTA RAJENDRAPRASAD TOBACCO COMPANY PRIVATE LIMITED	Director	26/04/2001	26/04/2001	-	Active	NO
5	U16001AP1991PTC013559	NANDI TOBACCOS PRIVATE LIMITED	Director	22/11/2004	22/11/2004	-	Active	NO
6	U72200AP2006PTC049878	DELTA TECHNOLOGY AND MANAGEMENT SERVICES PRIVATE LIMITED	Director	17/04/2006	17/04/2006	18/03/2010	Active	NO
7	U24230AP1971PLC001455	AGRIMMCOR LIMITED	Director	10/05/2006	10/05/2006	-	Active	NO

Name :

Mr. Allen Charles Tucker

Designation :

Additional Director

Address :

Box 228, CMU, Chiengmai – 20202, Thailand

Date of Birth/Age :

18.07.1942

Date of Appointment :

09.03.1998

DIN No.:

00051270

Name :

Mr. Musti Someswara Rao

Designation :

Director

Address :

1B Akhila Apartments, SR Elegance, SBI Officers Colony, Bagh Amberpert, Ranga Reddy, Hyderabad – 500013, Andhra Pradesh

Date of Birth/Age :

06.11.1960

Date of Appointment :

29.09.2006

DIN No.:

01453031

Name :

Mr. Chebrolu Hanumayya

Designation :

Director

Address :

D No. 3-28 – 18/162, 4^th Line, Rajendra Nagar, Guntur – 522006, Andhra Pradesh, India

Date of Birth/Age :

16.08.1989

Date of Appointment :

06.06.2011

DIN No.:

02994294

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72200AP2006PTC049878	DELTA TECHNOLOGY AND MANAGEMENT SERVICES PRIVATE LIMITED	Director	24/09/2010	11/03/2010	-	Active	NO
2	U05005AP1993PTC015399	STAR AQUA FOODS PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
3	U16001AP1991PTC013559	NANDI TOBACCOS PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
4	U51909AP1994PTC018335	SITEC EXPORTS PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
5	U16001AP1997PTC026476	GHANTA RAJENDRAPRASAD TOBACCO COMPANY PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
6	U16001AP1992PTC013650	DELTA TOBACCO COMPANY PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
7	U16001AP1994PTC018146	ALLIANCE ONE INDUSTRIES INDIA PRIVATE LIMITED	Director	22/09/2011	6/06/2011	-	Active	NO

Name :

Mr. Chebrolu Sundeep

Designation :

Director

Address :

Plot No. 180 –C, Prashasan Nagar, Road No. 76, Film Nagar, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

03.01.1993

Date of Appointment :

06.06.2011

DIN No.:

03523381

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U16001AP1992PTC013650	DELTA TOBACCO COMPANY PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
2	U05005AP1993PTC015399	STAR AQUA FOODS PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
3	U16001AP1991PTC013559	NANDI TOBACCOS PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
4	U51909AP1994PTC018335	SITEC EXPORTS PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
5	U16001AP1997PTC026476	GHANTA RAJENDRAPRASAD TOBACCO COMPANY PRIVATE LIMITED	Director	15/03/2011	15/03/2011	-	Active	NO
6	U16001AP1994PTC018146	ALLIANCE ONE INDUSTRIES INDIA PRIVATE LIMITED	Director	22/09/2011	6/06/2011	-	Active	NO

Name :

Mr. Baark Henrik Hans

Designation :

Director

Address :

329, M003, T. Rimtai (Green Valley), A. Maerim, Chiangmai – 50180, Thailand

Date of Birth/Age :

26.04.1960

Date of Appointment :

19.04.2007

Name :

Mr. Bommireddypalli Raja Sekhar

Designation :

Managing Director

Address :

Flat No. 502, Magnolia, 4-18-31, 5^th Line, Chandramouli Nagar, Guntur – 522007, Andhra Pradesh, India

Date of Birth/Age :

09.11.1966

Date of Appointment :

11.04.2012

DIN No.:

05245666

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U16001AP1994PTC018146	ALLIANCE ONE INDUSTRIES INDIA PRIVATE LIMITED	Managing director	11/04/2012	2/12/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.09.2011

Names of Shareholders	No. of Shares
Chebrolu Narendranath	4920000
Chebrolu Srilakshmi	1965000
Standard Commercial Tobacco Company (UK) Limited, United Kingdom	6615000
Total	13500000

Equity Share Break up (Percentage of Total Equity)

As on 22.09.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	49.00
Directors or relatives of Directors	51.00
Total	100.00

BUSINESS DETAILS

Line of Business :	To Commence and carry on the business of Planters, Growers, Producers, Curers, Manufacturers, Merchants, Importers and Exporters of all Agricultural Products and all other food material including material of animal origin, fuel oils, lubricants and such other articles allied to the above, turmeric, sugarcane, pepper, coffee, tea, cardamom cineraria, chilies and all kinds of Agricultural Products.
Product:	Threshed Tobacco

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Standard Chartered Bank, 19, Rajaji Salai, Chennai – 600001, Tamilnadu, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	118.055	136.944
Working capital loans banks secured	974.545	823.586
Total	1092.600	960.530

Banking Relations :	--
Auditors :
Name :	Umamahaswara Rao and Company Chartered Accountants
Address :	Guntur, Andhra Pradesh, India

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13500000	Equity Shares	Rs.10/- each	Rs.135.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		135.000	135.000	135.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		363.896	340.120	164.517
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		498.896	475.120	299.517
LOAN FUNDS
1] Secured Loans		1092.600	960.530	909.226
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		1092.600	960.530	909.225
DEFERRED TAX LIABILITIES		45.637	41.198	34.524
TOTAL		1637.133	1476.848	1243.267
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		528.629	542.259	199.336
Capital work-in-progress		10.953	0.837	165.941
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	551.616	672.847	564.882
	Sundry Debtors	433.281	392.860	244.337
	Cash & Bank Balances	110.964	92.417	112.235
	Other Current Assets	329.644	346.961	96.564
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		1425.505	1505.085	1018.018
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	80.801	88.687	112.510
	Other Current Liabilities	0.00	401.746	0.000
	Provisions	247.153	80.900	27.518
Total Current Liabilities		327.954	571.333	140.028
Net Current Assets		1097.551	933.752	877.990
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1637.133	1476.848	1243.267

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL (A)	2300.000	1885.878	2374.580
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	1983.974 (Including Financial and Depreciation)	1474.753	1873.653
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			411.125	500.927
Less	FINANCIAL EXPENSES (D)			98.075	372.549
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			313.050	128.378
Less/ Add	DEPRECIATION/ AMORTISATION (F)			35.037	26.653
	PROFIT BEFORE TAX (E-F) (G)		316.026	278.013	101.725
Less	TAX (I)		NA	102.412	38.765
	PROFIT AFTER TAX (G-I) (J)		NA	175.601	62.960
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.120	83.019	20.059
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	258.500	0.000
	BALANCE CARRIED TO THE B/S		NA	0.120	83.019
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	1312.516	2236.926
	TOTAL EARNINGS		NA	1312.516	2236.926
	IMPORTS
		Stores & Spares	NA	0.743	0.120
	TOTAL IMPORTS		NA	0.743	0.120
	Earnings Per Share (Rs.)		NA	13.01	4.66

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	9.31	2.65
Return on Total Assets (PBT/Total Assets}	(%)	22.17	18.47	9.99
Return on Investment (ROI) (PBT/Networth)		0.63	0.59	0.34
Debt Equity Ratio (Total Liability/Networth)		2.85	3.22	3.50
Current Ratio (Current Asset/Current Liability)		4.35	2.63	7.27

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	Yes
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	No
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	Yes
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	Yes

Note: Registered office of the company has been shifted from Obulnaidu Palem,Pottur Village, Guntur-522 005, Andhra Pradesh, India to the present address w.e.f 29.11.2006

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U16001AP1994PTC018146
Name of the company	ALLIANCE ONE INDUSTRIES INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 490, Road No. 10, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh Email: admin@aoiindia.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90119278
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	Standard Chartered Bank, 19, Rajaji Salai, Chennai – 600001, Tamilnadu, India Email: ramachandran.Nagasubramanian@sc.com
Nature of instrument creating charge	Supplemental to Unattested Memorandum of Hypothecation
Date of instrument Creating the charge	24.02.2012
Amount secured by the charge	Rs.1250.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest For facility drawn down in Indian Rupee: Base rate plus margin For facility drawn down in currency other than Indian Rupee: Margin + LIBOR Margin -as may be agreed with the Bank from time to time Terms of Repayment Pre-shipment Financing under Export Orders: Maximum upto 270 days. Export Bills Discounting: Maximum upto 90 days. Bonds and Guarantees and Financial guarantees / Standby Letter of Credit (trade): Maximum upto 360 days Import Letter of Credit: Maximum upto 180 days Margin Stocks - 10% Domestic and Export debtors - 10% Extent and Operation of the charge (1) First pari passu hypothecation charge with UCO Bank on stocks and book debts, present and future. (2) Second pari passu hypothecation charge with UCO Bank on movable fixed assets, present and future. (3) Second charge on immovable properties by way of constructive deposit of title deeds with UCO Bank. First charge held by UCO Bank for Term Loan Rs.123.800 Millions, EPC/FBP/FBD/PCFC Rs.610.000 Millions, Total Rs.733.800 Millions Others Facility: Pre-shipment Financing under Export Orders - USD 25,000,000/- Sub-limits: (a) Export Bills Discounting - (USD 25,000,000/-) (b) Bonds and Guarantees - (USD 3,000,000/-) (c) Import Letters of Credit - (USD 3,000,000/-) (d) Financial Guarantees / Standby letter of Credit (trade) - (USD 3,000,000/-) Overall utilisation under (b), (c) and (d) above not to exceed USD 3,000,000/-
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Present/ future movable plant/ machinery, furniture/ fittings, equipment, computer hardware/ software, machinery spares, tools, accessories and other movables at all locations. Present/ future book debts, oustandings, moneys receivable, claims and bills. Present/future stock in trade consisting of raw materials, finished goods, goods in process of manufacturing and other merchandise, being movable properties, at all locations. Immovable properties in Obulanaidupalem village, Guntur district, Andhra Pradesh, covered by Sale Deed Nos. 429/98, 3169/97, 3170/97, 3211/97, 3500/98, 1614/99, 3180/99 and 3501/98, respectively to an extent of 10.16 1/4 acres, 1.99 acres, 3.64 acres, 9.38 1/2 acres, 1.66 acres, 1.00 acre, 1.00 acre and 1.63 acres, belonging to the company.
Date of instrument modifying the charge	07.01.2012
Particulars of the present modification	Working capital limit enhanced from INR 1,000,000,000 to USD 25,000,000 (equivalent to INR 1,250,000,000). Hypothecation charge on goods, book debts and movable fixed assets extended to cover enhanced limits.

Fixed Assets

· Land

· Factory Building

· Buildings – Other

· Plant and Machinery

· Office Equipment

· Computers

· Furniture

· 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.54.81
UK Pound	1	Rs.86.03
Euro	1	Rs.69.06

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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

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