MIRA INFORM REPORT

Report Date :

16.07.2012

IDENTIFICATION DETAILS

Name :	ALPHA CRAFT PRIVATE LIMITED
Registered Office :	No.10, ‘A’ Block, Trident Screnity, 577/2, Nachithoppu, Nanjundapuram Main Road, Coimbatore – 641036, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.05.1990
Com. Reg. No.:	18-002701
Capital Investment / Paid-up Capital :	Rs.11.136 Millions
CIN No.: [Company Identification No.]	U17111TZ1990PTC002701
TAN No.: [Tax Deduction & Collection Account No.]	CMBA03983A
PAN No.: [Permanent Account No.]	AABCA8408L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Aluminium Pressure Die, Casting Dies and Plastic Injection Moulds
No. of Employees :	250 [Office + Factory] Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 210000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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 :	No.10, ‘A’ Block, Trident Screnity, 577/2, Nachithoppu, Nanjundapuram Main Road, Coimbatore – 641036, Tamilnadu, India
Tel. No.:	91-422-2626040
Mobile No.:	91-9843018651 [Me. Ramesh]
Fax No.:	91-422-2625190
E-Mail :	ramesh@diemould.com accounts@diemould.com accountsmgr@diemould.com goma@craftsmanautomation.com
Website :	http://www.diemould.com
Corporate Office :	120/2A, Karayampalayam, Mylampatti Post, Coimbatore – 641062, Tamilnadu India
Tel. No.:	91-422-2626040
Fax No.:	91-422-2625190
Email :	alphacraft@diemould.com
Factory :	No. 8 and 9 Nehru Street B.R. Puram Coimbatore, Tamilnadu, India
Tel No.:	91-422-2571345
Fax No.:	91-422-2592390

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Muthuramalingam Ramesh

Designation :

Managing Director

Address :

217 F, Raheja Centre 236, Race Course Coimbatore-641018, Tamilnadu, India

Date of Birth/Age :

30.04.1962

Date of Appointment :

24.01.2001

DIN No.:

01206518

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	U17111TZ1990PTC002701	ALPHA CRAFT PRIVATE LIMITED	Managing director	24/01/2001	24/01/2001	Active	NO
2	U72200TZ2008PTC014478	GREADIAN ENGINEERING SOLUTIONS PRIVATE LIMITED	Director	16/05/2008	16/05/2008	Active	NO
3	U27105TZ2010PTC016137	GREADIAN METALS AND ALLOYS PRIVATE LIMITED	Director	15/06/2010	15/06/2010	Active	NO

Name :

Mrs. Ramesh Anandhi

Designation :

Director

Address :

B/217, Daffodils Raheja Enclave, 236, Race Course Road, Coimbatore – 641018, Tamilnadu, India

Date of Birth/Age :

16.05.1968

Date of Appointment :

11.12.2006

DIN No.:

02422144

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Muthuramalingam Ramesh	1088600
Ramesh Anandhi	25000
Total	1113600

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Aluminium Pressure Die, Casting Dies and Plastic Injection Moulds
Products :	· Mould Base and Die Set · Filter ETC and Vaccum Pumps · Speedo Meter

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity
Mould and Die Sets	Nos	180	180
Aluminum Components	Nos	36000	36000

GENERAL INFORMATION

No. of Employees :

250 [Office + Factory] Approximately

Bankers :

· Indian Bank

P. N. Palayam Branch, Coimbatore – 641037, Tamilnadu, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Banks and Financial Institutions
Term Loan	34.714	34.078
Working capital	52.037	46.803
Total	86.751	80.881
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loan From Directors	0.055	0.087
Loan from Others	2.395	7.647
Total	2.450	7.734

Banking Relations :	--
Auditors :
Name :	PKF Sridhar and Santhanam Chartered Accountants
Address :	KRD Gee Gee Crystal, 91, 92, Dr. Radhakrishnan Salai, Mylapore, Chennai – 600004, Tamilnadu, India
PAN No.:	ANZPS9856J

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Share	Rs.100/- each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1113600	Equity Shares	Rs.10/- each	Rs.11.136 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		11.136	3.000	3.000
2] Share Application Money		0.000	8.136	5.500
3] Reserves & Surplus		40.259	35.426	33.376
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		51.395	46.562	41.876
LOAN FUNDS
1] Secured Loans		86.751	80.881	67.440
2] Unsecured Loans		2.450	7.734	13.174
TOTAL BORROWING		89.201	88.615	80.614
DEFERRED TAX LIABILITIES		7.339	7.422	7.522
TOTAL		147.935	142.599	130.012
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		100.412	103.748	96.496
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	23.061	27.665	33.535
	Sundry Debtors	66.000	62.860	47.300
	Cash & Bank Balances	23.147	11.817	4.720
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	19.497	11.928	4.971
Total Current Assets		131.705	114.270	90.526
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	67.666	71.176	0.000
	Other Current Liabilities	13.294	0.425	53.548
	Provisions	3.222	3.818	3.462
Total Current Liabilities		84.182	75.419	57.010
Net Current Assets		47.523	38.851	33.516
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		147.935	142.599	130.012

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	TURNOVER		303.241	201.463	199.478
	EXPENSES
		TOTAL	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		38.421	25.873	25.086
Less	FINANCIAL EXPENSES		14.904	11.352	9.676
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		23.517	14.521	15.410
Less/ Add	DEPRECIATION/ AMORTISATION		15.496	12.214	14.000
	PROFIT BEFORE TAX		8.021	2.307	1.410
Less	TAX		3.140	0.257	1.064
	PROFIT AFTER TAX		4.881	2.050	0.346
	BALANCE CARRIED TO THE B/S		40.259	35.426	33.376
	EARNINGS IN FOREIGN CURRENCY		105.100	47.477	47.111
	IMPORTS
		Traveling Expenses	1.153	0.000	0.213
		Stores & Spares	0.563	0.223	1.173
		Capital Goods	12.155	3.936	31.012
		Others	0.756	0.000	0.128
	TOTAL IMPORTS		14.627	4.159	32.526
	Earnings Per Share (Rs.)		4.32	68.33	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	2.65	1.15	0.71
Return on Total Assets (PBT/Total Assets}	(%)	3.46	1.06	0.75
Return on Investment (ROI) (PBT/Networth)		0.16	0.05	0.03
Debt Equity Ratio (Total Liability/Networth)		3.37	3.52	3.29
Current Ratio (Current Asset/Current Liability)		1.56	1.51	1.59

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	No
Designation of Contact person	No
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

NOTE:

The Registered office of the company has been shifted from, B/217, Race Course Road, 236 Raheja Enclave, Coimbatore – 641018, Tamilnadu, India, to the present address w.e.f. 18.03.2011.

OPERATIONS

The performance of the company witnessed a marginal growth of 50.52% as compared to previous year. The aftermath of globals financial turmoil and the demand slackening is still being felt they had to tread cautiously with judicious capital expenditure being incurred to maintain the leadership position and also to have the updated technology in terms of production capability.

The operations of the year have resulted in a net profit of Rs.8.021 millions after providing for depreciation of Rs. 15.496 millions, Current Income tax provision is made for Rs.3.222 million. Deferred tax liability in terms of Accounting Standard 22 is Rs. (0.082) million and the same has been incorporated in the results.

FORM 8:

This form is for	Modification of charge
Charge identification number of the modified	10257600
Corporate identity number of the company	U17111TZ1990PTC002701
Name of the company	ALPHA CRAFT PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B/217 Race Course Road, 236 Raheja Enclave, Coimbatore – 641018, Tamilnadu, India accounts@diemould.com
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Indian Bank 1/202, Avinashi Road, Chinniyampalayam, Coimbatore – 641062, Tamilnadu, India chinniampalayam@indianbank.co.in
Nature of description of the instrument creating or modifying the charge	1. Agreement for Bills Purchased (D-35). 2. Agreement for hypothecation of goods received under advance payment guarantees / LCs etc (D-73). 3. Counter Guarantee (F- 44). 4. Agreement for Inland Irrevocable Letter of Credit (D-87).
Date of instrument Creating the charge	07/02/2011
Amount secured by the charge	Rs.146.200 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest 1)OCC - BR 9.50% + Spread 3.50% + TP 0.50% currently 13.50% 2) PC and FBP - BR + Spread 2% currently 11.50% 3)MTLI, II, III and IV - BR 9.50% + Spread 3.50% + TP 1% currently14% Terms of Repayment MTL IV repayable in 60 monthly installments with holiday period of 6 months. Margin 1. OCC - 25% on stocks and book debts less than 90 days. 2. PC (sub-limit of OCC) - PC 10% on stock. 3. FBP - 10% on Bills. 4. MTL I - 25% 5. MTL II - 25% 6. MTL III - 43.50% 7. MTL IV - 50% for Building 25% for machineries. 8. LC - 25% Cash Margin 9. MG - 25% Cash Margin Extent and Operation of the charge The entire amount of loan is Rs.146.200 Millions is secured by offer of various securities detailed under column no.16. Others Revised Limit (Rs in Millions) OCC - 50.000 PC -(10.000) FBN/FBP - 10.000 MG - 10.000 MTL I - 10.100 MTSL II - 11.700 MTSL III - 10.400 MTL IV - 44.000 LC - (22.800) ---------- 146.200
Short particulars of the property charged	OCC - Hypothecation of goods, produce, Merchandise, stock stored or to be stored from time to time in premises at 120/2A, Kanayampalayam, Coimbatore and book debts, receivables and other claims. PC / FBP / FBN - Hypothecation of Stocks and confirmed order / LC. TL IV - Hypothecation of machineries to be purchased t the cost of 49.300 Millions. LC - Hypothecation of machineries to be purchased under the LC and Pledge of margin money of 25% Money Guarantee - Pledge of margin money deposit (25% of the limit) and hypothecation of aluminium ingots.
Date of latest modification prior to the present modification	07/02/2011
Particulars of the present modification	The overall limit is increased from Rs.96.100 Millions to Rs.146.200 Millions

FIXED ASSETS:

· Building – Factory

· Plant and Machinery

· Generator

· Electrical Equipments

· Energy Saving Equipments

· Office Equipments

· Furniture and Fixtures

· Computer

· 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.55.66
UK Pound	1	Rs.85.89
Euro	1	Rs.67.88

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		44

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.