MIRA INFORM REPORT

Report Date :

20.07.2012

IDENTIFICATION DETAILS

Name :	PREMIUM MOULDINGS AND PRESSINGS PRIVATE LIMITED
Registered Office :	E-8/1, Vasant Vihar, New Delhi -110057, Delhi,
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.07.1988
Com. Reg. No.:	55-032513
Capital Investment/ Paid-up Capital:	Rs.35.900 Millions
CIN No.: [Company Identification No.]	U74899DL1988PTC032513
TAN No.: [Tax Deduction & Collection Account No.]	DELP04523B DELP08363F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Automobile Components and Steering Wheels.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 336000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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 :	E-8/1, Vasant Vihar, New Delhi -110057, Delhi, India
Tel. No.:	91-11-24649845
Fax No.:	Not Available
E-Mail :	accounts@pmpindia.net
Factory :	No.185, Udyoog Vihar Phase –I, Gurgoan -122016, Haryana, India
Tel. No.:	91-124-2341670/2340351/2340856
Mobile No.:	91-9810550058 (Mr. Wadi Singh)
Fax No.:	91-124-2341832

DIRECTORS

As on 24.09.2011

Name :

Mr. Wadi Gurpal Singh

Designation :

Director

Address :

E-8/1, Vasant Vihar, New Delhi -110057, Delhi, India

Date of Birth/Age :

07.01.1967

Date of Appointment :

20.07.1988

Din No.:

00019370

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	U74899DL1988PTC032513	PREMIUM MOULDINGS AND PRESSINGS PVT LTD	Director	20/07/1988	20/07/1988	-	Active	NO
2	U74210DL2000PTC105465	PREMIUM STEERINGS PRIVATE LIMITED	Director	27/04/2000	27/04/2000	-	Active	NO
3	U34300DL2003PTC119919	PREMIUM AUTOSTEERINGS PRIVATE LIMITED	Director	17/04/2003	17/04/2003	-	Active	NO

Name :

Mr. Gurpal Singh

Designation :

Director

Address :

E-8/1, Vasant Vihar, New Delhi -110057, Delhi, India

Date of Birth/Age :

09.12.1935

Date of Appointment :

20.07.1988

Din No.:

00019340

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	U74899DL1988PTC032513	PREMIUM MOULDINGS AND PRESSINGS PVT LTD	Director	20/07/1988	20/07/1988	-	Active	NO
2	U74210DL2000PTC105465	PREMIUM STEERINGS PRIVATE LIMITED	Director	27/04/2000	27/04/2000	-	Active	NO
3	U34300DL2003PTC119919	PREMIUM AUTOSTEERINGS PRIVATE LIMITED	Director	17/04/2003	17/04/2003	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2011

Names of Shareholders	No. of Shares
Gurpal Singh	330360
Wadi Gurpal Singh	60050
Sunita Singh	4170
Nona Singh	30270
Gurpal Singh (HUF)	14150
Total	439000

As on 24.09.2011

Category	Percentage
Directors or relatives of directors	88.93
Other top fifty shareholders	11.07
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Automobile Components and Steering Wheels.

GENERAL INFORMATION

Suppliers :

· 21st Century Packaging

· Abb Limited

· ABL Computer Forms Printers

· Access Professional Services Private Limited

· Accurate Engg Co Private Limited

· Accurex Industries

· Accurex Industries (L/C)

· Acumen Industries (India)

· A.G.Enterprises

· Agrawal Metal Works Private Limited

· Aims International

· Airex Logistics and Express Services Private Limited

· Airpower Systems

· Alan Bright Steel Private Limited

· Albatross Fine Chem Private Limited

· Allinace Digitech Private Limited

· Alok Industries-Bhiwadi

· Alok Industries-Delhi

Customers :

· Action Construction Equipment Limited. (Unit II)

· Action Construction Equipment

· Ashok Leyland Limited.-Ennore –

· Ashok Leyland Limited Panthnagar

· Ashok Leyland Limited Plant-II

· Atlas Copco ( India ) Limited (Nasik)

· Azad Coach Private Limited. –

· Caterpillar India Private Limited

· Coolwels International (Sales) –

· Eicher Tractors (Mandideep)

· Escort Ammd Parts Limited (SPD)

· Escorts Cconstruction Equipment

· EscortS Limited

· Fiat India Automobiles Private Limited.

· Hindustan Motors Limited -Hooghly

· Hindustan Motors Limited (Hooghly SPD)

· Hindustan Motors Limited Lancer

· International Car and Motors Limited

· International Car and Motors LimitedSPD –

· International Tractors Limited

No. of Employees :

Not Available

Bankers :

· Standard Chartered Bank, 10, Parliament Street, New Delhi – 110001, Delhi, India

· ICICI Bank Limited

· HDFC Bank

· Maruti Udyog Limited

· Small Industries Development Bank of India

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
From Standard Chartered Bank (Secured by Equitable Mortgage of Factory Land and Building and hypothecation of Stock in Trade, Machinery, Bills Discounted and Personal Guarntee of the Directors)	141.696	119.333
From ICICI Bank Limited (Secured by Equitable Mortgage of Factory Land, Building Machinery and personal guarantee of the Directors)	0.000	0.227
From Small Industries Development Bank of India (Secured by Equitable Mortgage of Factory Land,Building Machinery and personal guarntee of the Directors)	42.215	36.553
From HDFC Bank (Secured against hypothecation of Motorbike, Cars and Tempo)	3.176	1.501
From Maruti Udyog Limited (Secured against hypothecation of Cars)	0.786	0.968
Total	187.873	158.582

UNSECURED LOAN	31.03.2011	31.03.2010
From Directors	0.000	3.455
From Inter corporate	4.974	0.000
Total	4.974	3.455

Banking Relations :	--
Auditors :
Name :	S.C Varma and Company Chartered Accountant
Address :	A – 60, N.D.S.E Part –I, New Delhi – 110049, Delhi, India
Tel. No.:	91-11-24649845/24648247
Fax No.:	91-11-24649330
E-Mail :	scvarma@scvandco.com
Pan No.:	AAACFS1889H
Associates :	· Premium Steerings Private Limited · Premium Autosteerings Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Share	Rs.100/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
359000	Equity Share	Rs.100/- each	Rs.35.900 Millions

As on 24.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Share	Rs.100/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
439000	Equity Share	Rs.100/- each	Rs.43.900 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		35.900	17.500	17.500
2] Share Application Money		0.000	3.000	3.000
3] Reserves & Surplus		48.106	42.641	39.938
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		84.006	63.141	60.438
LOAN FUNDS
1] Secured Loans		187.873	158.582	120.205
2] Unsecured Loans		4.974	3.455	2.980
TOTAL BORROWING		192.847	162.037	123.185
DEFERRED TAX LIABILITIES		9.084	9.917	9.051
TOTAL		285.937	235.095	192.674
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		163.477	110.840	91.948
Capital work-in-progress		0.923	13.452	3.876
INVESTMENT		4.500	4.500	4.500
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	43.457	29.836	26.931
	Sundry Debtors	125.295	110.140	122.182
	Cash & Bank Balances	11.806	6.586	5.869
	Other Current Assets	0.065	0.034	0.063
	Loans & Advances	33.444	43.338	17.563
Total Current Assets		214.067	189.934	172.608
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	78.896	75.820	75.841
	Other Current Liabilities	15.493	6.640	2.920
	Provisions	2.641	1.171	1.497
Total Current Liabilities		97.030	83.631	80.258
Net Current Assets		117.037	106.303	92.350
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		285.937	235.095	192.674

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	359.076	292.302	308.512
		Other Income	0.761	3.697	2.507
		TOTAL	359.837	295.999	311.019
Less	EXPENSES
		Manufacturing Cost	280.416	229.231	258.401
		Administrative and Operative Expenses	47.563	36.420	31.490
		Selling and Distribution Expenses	18.888	16.409	8.410
		Increase / Decrease in Closing Stock	(6.623)	(0.503)	(1.188)
		TOTAL	340.244	281.557	297.113
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		19.593	14.442	13.906
Less/ Add	DEPRECIATION/ AMORTISATION		13.891	10.102	9.087
	PROFIT BEFORE TAX		5.702	4.340	4.819
Less	TAX		0.237	1.636	0.678
	PROFIT AFTER TAX		5.465	2.704	4.141
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		40.204	37.500	33.359
	BALANCE CARRIED TO THE B/S		45.669	40.204	37.500
	EARNINGS IN FOREIGN CURRENCY		12.644	20.590	NA
	Earnings Per Share (Rs.)		27	15.45	-

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.52	0.91	1.33
Net Profit Margin (PBT/Sales)	(%)	1.59	1.48	1.56
Return on Total Assets (PBT/Total Assets}	(%)	1.51	1.44	1.82
Return on Investment (ROI) (PBT/Networth)		0.07	0.07	0.08
Debt Equity Ratio (Total Liability/Networth)		3.46	3.89	3.37
Current Ratio (Current Asset/Current Liability)		2.21	2.27	2.16

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
Promoters background	Yes
No. of Employees	No
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	-
Capital the business	Yes
Details of sister concerns	Yes
Major Suppliers	Yes
Major Customers	Yes
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74899DL1988PTC032513
Name of the company	PREMIUM MOULDINGS AND PRESSINGS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	E-8/1, Vasant Vihar, New Delhi -110057, Delhi, India Email: accounts@pmpindia.net
This form is for	Creation of charge
Type of charge	· Others
Particular of charge holder	Standard Chartered Bank, 10, Parliament Street, New Delhi – 110001, Delhi, India Email: sme.form8@sc.com
Nature of instrument creating charge	Guarantee Agreement.
Date of instrument Creating the charge	25.05.2012
Amount secured by the charge	Rs.65.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest: As Per Facility Letter Dated 24.05.2012 Terms of repayment: As Per Facility Letter Dated 24.05.2012 Margin: As Per Facility Letter Dated 24.05.2012 Extent and operation of the charge:. Extent and Operation - 100% Others: The above is to secure credit facilities granted by the bank to m/s premium steering Private Limited
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Corporate guarantee of the company .
Date of last modification prior to the present modification	23.11.2009

CONTINGENT LIABILITY

Particular	31.03.2011
a)Claims against the company not acknowledged as debts	3.403
b )Estimated amount of contracts remaining to be executed on Capital Account and not provided for	5.648
c) Guarantee given by the company are outstanding to be extent of :	30.000
d)Guarantee given by Bank on behalf of the company are outstanding to the extent	0.170
e)Counter guarantee given by other corporates on behalf of the company	Nil

FIXED ASSETS:

· Land

· Building

· Furniture and Fixtures

· Plant and Machinery

· Generator

· Mould Tools And Dies

· Air Conditioner

· Electric Equipments

· Office Equipment

· Computer

· Vehicles

· Computer (software)

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.55.38
UK Pound	1	Rs.86.75
Euro	1	Rs.68.06

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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		41

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.