MIRA INFORM REPORT

Report Date :

09.07.2012

IDENTIFICATION DETAILS

Name :	VINDHYA KABELMATS (INDIA) LIMITED (w.e.f. 03.03.2011)
Formerly Known As :	VINDHYA KABELMATS (INDIA) PRIVATE LIMITED
Registered Office :	17/18/19, Udyog Vihar, Rewa – 486 001, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.01.1994
Com. Reg. No.:	10-008051
Capital Investment / Paid-up Capital :	Rs.3.879 Millions
CIN No.: [Company Identification No.]	U31300MP1994PLC008051
TAN No.: [Tax Deduction & Collection Account No.]	JBPV01062F
PAN No.: [Permanent Account No.]	AAACV7909A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Cable Making Machines.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 28000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 (30.09.2011)	Current Rating (31.12.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Deependra Singh Parihar
Designation :	Director
Contact No.:	91-9926904996
Date :	06.07.2012

LOCATIONS

Registered Office/ Factory :	17/18/19, Udyog Vihar, Rewa – 486 001, Madhya Pradesh, India
Tel. No.:	91-7662-220235/ 220207/ 309211
Mobile No.:	91-9425184996 (Mr. Amrendra Singh Parihar) 91-9926904996 (Mr. Deependra Singh Parihar)
Fax No.:	91-7662-220207
E-Mail :	office@vindhyakabelmats.com vinkmet_rwa@hotmail.com
Website :	http://www.vindhyakabelmats.com
Area :	1.5 Acres
Location :	Leased

DIRECTORS

As on 30.09.2011

Name :

Mr. Yogendra Pratap Singh Parihar

Designation :

Director

Address :

Vaikunth Shree, NH-7, Ram Krishna Puram, Godhar, Rewa - 485 001, Madhya Pradesh, India

Date of Birth/Age :

01.08.1948

Qualification :

Graduate

Date of Appointment :

10.01.1994

Din No.:

00677515

Name :

Mrs. Sushila Singh Parihar

Designation :

Director

Address :

Vaikunth Shree, NH-7, Ram Krishna Puram, Godhar, Rewa – 485 001, Madhya Pradesh, India

Date of Birth/Age :

15.07.1952

Qualification :

DME

Date of Appointment :

10.01.1994

Din No.:

00677491

Name :

Mr. Amrendra Singh Parihar

Designation :

Director

Address :

Raniganj, Near Venkat Road, Rewa – 486 001, Madhya Pradesh, India

Date of Birth/Age :

30.12.1970

Date of Appointment :

04.02.2011

Din No.:

03389188

Other Directorship:

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	U31300MP1994PLC008051	Vindhya Kabelmats (India) Limited	Director	04-02-11	05-01-11	Active	No

Name :

Mr. Deependra Singh Parihar

Designation :

Director

Address :

12, Raniganj, Near Venkat Road, Rewa – 486 001, Madhya Pradesh, India

Date of Birth/Age :

30.11.1977

Date of Appointment :

04.02.2011

Din No.:

03395205

Other Directorship:

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	U31300MP1994PLC008051	Vindhya Kabelmats (India) Limited	Director	04-02-11	05-01-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Yogendra Pratap Singh Parihar	9216
Sushila Singh Parihar	14800
Amrendra Singh Parihar	2841
Mrigendra Singh Parihar	3683
Deependra Singh Parihar	4583
Ritu Singh	3666
Total	38789

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Cable Making Machines.

Products :

Product Description	Item Code No. (ITC Code)
Cable Making Machine	107

v Tapping Machine

v Cable Sheathing Line

v Wire Machine

v Stranding Machine

v Armouring Machine

v Wire Drawing Machines

v Rod Breadkdown Machine

v Rewinding Machine

v Laying Machine

v Glue Applicator

Exports :

Products :

v Tapping Machine

v Cable Sheathing Line

v Wire Machine

v Stranding Machine

v Armouring Machine

v Wire Drawing Machines

v Rod Breadkdown Machine

v Rewinding Machine

v Laying Machine

v Glue Applicator

Countries :

v Middle East Countries

v African Countries

Terms :

Selling :

L/C and Advance

Purchasing :

L/C and Advance

GENERAL INFORMATION

Suppliers :

v ABB Limited, Faridabad

v Aayus Enterprises, Rewa

v Agarwal Pipe Company

v A.P. Steel Company, Delhi

v Balaji Steel Fabricators

v Crompton Greaves Limited

v Dewan Steels, Delhi

v Gupta Sales Corporation, Gwalior

v Hind Steel Supply Company

v Industrial Marketing, Satna

v Manish Hardware Stores, Rewa

v Power Build Limited

v Raju Steel Company, Delhi

v Shree Nath Casting, Delhi

v Sunny Steel Traders

v Umang Engineering

v Triveni Oxygen Company, Rewa

v V.V. Enterprises

v Somani Brothers, Indore

Customers :

Cable Manufacturer

v Bedmuth Industries Limited

v Uniflex Cables Limited

v Universal Cables Limited, Satna (MP)

v Universal ABB Power Cables Limitetd, Satna (MP)

v KEI Industries Limited Bhiwadi

v Vindhya Telelinks Limited, Rewa (MP)

v Gloster Cables Limited, Secunderabad

v RPG Cables Limited, Mysore (Karnataka)

v Gupta Power Infrastructure Limited, Bhubneshwar

v Cable Corporation of India, Maharashtra

v Hind Aluminum Industries Limited, Silvassa.

v Fort Gloster Industries, Howrah

v Royal Extrusion Systems Limited, Pune

v Himalaya Communications Limited, Baddi (HP)

v Janta Wire Works Limited, New Delhi

v Deepak Cables (India) Limited, Pondichery

v J.K. Cables Limited, New Delhi

v Paramount Cables Limited, Rajasthan

v Concepta Cables Limited (RPG Group), Raibareli/Mysore

v Apar Industries Limited, Silvassa

v Sterlite Industries (India) Limited, Pune

v Anchor-Deawoo Industries Limited, Kutch

No. of Employees :

70 (Approximately)

Bankers :

v Canara Bank

v State Bank of India

v Union Bank of India, Rewa Main Branch, Rewa – 486 001, Madhya Pradesh, India

v Axis Bank Limited

v IDBI Bank Limited

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
UBI Rewa CC A/c’s	9.606	9.230
UBI Car Loan A/c	0.483	0.000
NSIC Limited, Bhopal	2.383	2.363
Total	12.472	11.593

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
A. Loan from Directors and Shareholder
A.S. Parihar	0.286	0.002
Deependra Singh Parihar	0.110	0.110
Mrigendra Singh Parihar	0.031	0.031
Y.P. Singh Parihar	0.474	0.074
Ritu Singh Parihar	0.008	0.008
Sushila Singh Parihar	0.101	0.001
B. Other
Commercial – Tax Deferment	2.252	2.252
Total	3.262	2.478

Banking Relations :	--
Auditors :
Name :	Hariom Agrawal and Company Chartered Accountants
Address :	552/5, Laxmi Market, Rewa Road, Circuit House Chowk, Satna – 485 001, Madhya Pradesh, India
Tel. No.:	91-7662-223406
Mobile No.:	91-9425810733
Fax No.:	91-7662-223406
E-Mail :	hariomca@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	ACJPA6566A

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs.4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
38789	Equity Shares	Rs.100/- each	Rs.3.879 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		3.879	3.550	1.750
2] Share Application Money		0.001	1.800	1.284
3] Reserves & Surplus		3.228	0.821	0.500
4] (Accumulated Losses)		0.000	0.000	(0.423)
NETWORTH		7.108	6.171	3.111
LOAN FUNDS
1] Secured Loans		12.472	11.593	11.267
2] Unsecured Loans		3.262	2.478	5.825
TOTAL BORROWING		15.734	14.071	17.092
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		22.842	20.242	20.203
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.961	1.587	1.649
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.060
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.988	35.811	22.972
	Sundry Debtors	3.105	3.421	10.967
	Cash & Bank Balances	1.634	2.109	0.409
	Other Current Assets	0.842	0.785	0.553
	Loans & Advances	1.401	2.057	2.610
Total Current Assets		30.970	44.183	37.511
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.842	18.497	14.171
	Other Current Liabilities	1.400	6.568	4.478
	Provisions	0.847	0.463	0.368
Total Current Liabilities		13.089	25.528	19.017
Net Current Assets		17.881	18.655	18.494
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		22.842	20.242	20.203

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	37.304	16.723	17.695
		Other Income	2.151	5.056
		TOTAL (A)	39.455	21.779	17.695
Less	EXPENSES
		Cost of Goods Sold	26.687	8.210	15.584
		Duties, Taxes and Cess paid or payable	2.116	2.061
		Freight	1.985	0.537
		Power and Fuel	0.975	0.773
		Repairs to machinery	0.081	0.109
		Compensation to Employees	2.062	2.050
		Other Insurance	0.051	0.032
		Workmen and Staff Welfare Expenses	0.019	0.017
		Sales Promotion	0.009	0.001
		Advertisement	0.183	0.259
		Commission	0.042	0.000
		Traveling Expenses	0.404	0.320
		Conveyance	0.010	0.010
		Telephone	0.098	0.120
		Donation	0.021	0.000
		Rates and taxes paid or payable to Government	0.002	0.003
		Audit Fee	0.036	0.049
		Other Expenses	0.592	0.392
		Bad Debts	0.413	3.894
		TOTAL (B)	35.786	18.837	15.584
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.669	2.942	2.111
Less	INTEREST (D)		2.053	1.664	1.488
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.616	1.278	0.623
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.469	0.197	0.209
	PROFIT BEFORE TAX (E-F) (G)		1.147	1.081	0.414
Less	TAX (H)		0.385	0.337	0.166
	PROFIT AFTER TAX (G-H) (I)		0.762	0.744	0.248
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.321	(0.423)	(0.671)
	BALANCE CARRIED TO THE B/S		1.083	0.321	(0.423)
	EARNINGS IN FOREIGN CURRENCY		20.931	NA	NA
	Earnings Per Share (Rs.)		29.56	20.97	23.66

Particulars	31.03.2012
Sales Turnover (Approximately)	30.000 (Export order postponed)

Expected Sales (2012-2013): Rs.50.000 millions

The above information has been parted by Mr. Deependra Singh Parihar (Director).

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.93	3.42	1.40
Net Profit Margin (PBT/Sales)	(%)	3.07	6.46	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.19	2.36	1.06
Return on Investment (ROI) (PBT/Networth)		0.16	0.18	0.13
Debt Equity Ratio (Total Liability/Networth)		4.06	6.42	11.61
Current Ratio (Current Asset/Current Liability)		2.37	1.73	1.97

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	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
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	Yes
13) Reasons for variation <> 20%	Yes
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
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

Bankers Charges Report as per Registry

Corporate identity number of the company	U31300MP1994PTC008051
Name of the company	VINDHYA KABELMATS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	17/18/19, Udyog Vihar, Rewa – 486 001, Madhya Pradesh, India E-Mail: companyact1956@yahoo.com
This form is for	Modification of charge
Charge identification number of the modified	10120906
Type of charge	Immovable Property Book Debts Others (Stock of goods)
Particular of charge holder	Union Bank of India, Rewa Main Branch, Rewa - 486 001, Madhya Pradesh, India E-Mail: companyact1956@yahoo.com
Nature of description of the instrument creating or modifying the charge	All hypothecated goods and debts consisting of stock of cable machines, iron and allied electricals items and finished goods and book debts.
Date of instrument Creating the charge	13.08.2010
Amount secured by the charge	Rs.12.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest BPLR + 2.00% i.e. 14.25% Terms of Repayment Payable on Demand Margin 25% on stocks, spare parts, stores and finished goods. Extent and Operation of the charge Cash Credit (Hypothecation) of Rs.9.000 millions. Bank Guarantee of Rs.3.000 millions.
Short particulars of the property charged	Factory Godowns at Udyog Vihar, Chorhata, Rewa (M.P.)
Date of latest modification prior to the present modification	10.09.2008
Particulars of the present modification	Cash Credit (Hypothecation) of Rs.9.000 millions. Bank Guarantee of Rs.3.000 millions.

FIXED ASSETS:

v Leasehold Land

v Building

v Furniture

v Machinery

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.55.42
UK Pound	1	Rs.86.04
Euro	1	Rs.68.60

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.