MIRA INFORM REPORT

Report Date :

25.07.2012

IDENTIFICATION DETAILS

Name :	AMW AUTOCOMPONENT LIMITED
Registered Office :	Ground Floor, Admin Building, AMW Compound, 34 KM Milestone, Bhuj-Bhachau Road, Village Kannaiyabe, Kutch-370020, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.06.2009
Com. Reg. No.:	04-057269
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U35923GJ2009PLC057269
TAN No.: [Tax Deduction & Collection Account No.]	RKTA02976B
PAN No.: [Permanent Account No.]	AAHCA7881P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Wheel Rims, Stamping Parts, Crash Barriers and Other Allied Auto Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 1400
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears accumulated loss in the current year. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. 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 (30.06.2011)	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

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	Ground Floor, Admin Building, AMW Compound, 34 KM Milestone, Bhuj-Bhachau Road, Village Kannaiyabe, Kutch-370020, Gujarat, India
Tel. No.:	91-2832-395488 / 61926000
Fax No.:	91-2832-395488 / 67101504
E-Mail :	ddarji@amwasia.com
Website :	http://www.amwaisa.com
Corporate Office:	7^th Floor, Tower 1, Equinox Business Park, (Peninsula Techno Park), Off Kurla Complex, L B S Marg, Mumbai – 400070, Maharashtra, India
Tel No.:	91-22-61926083
Email:	vimal.taparia@amwasia.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Anirudh Bhuwalka

Designation :

Director

Address :

Plot No. 5 B, Panhar Building, Worli Seaface, Mumbai-400025, Maharashtra, India

Date of Birth/Age :

23.01.1975

Date of Appointment :

16.06.2009

Din No.:

00333042

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	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Managing director	19/06/2008	06/10/2003	-	Active	NO
2	U67190MH2006PLC163842	ASIA MOTORWORKS HOLDINGS LIMITED	Director	18/08/2006	18/08/2006	-	Active	NO
3	U45400MH2007PLC170233	AMW PROPERTIES LIMITED	Director	23/04/2007	23/04/2007	-	Active	NO
4	U27310KA2006PLC040237	AMW - MGM FORGINGS LIMITED	Director	29/07/2009	05/05/2008	28/03/2011	Active	NO
5	U65921MH2008PLC182234	AMW FINANCE LIMITED	Director	15/05/2008	15/05/2008	-	Active	NO
6	U65990WB2008PLC126729	AMW CAPITAL LIMITED	Director	19/06/2008	19/06/2008	-	Strike off	NO
7	U28991KA1977PTC003128	FORGE TOOLS (MYSORE) PRIVATE LIMITED	Director	28/07/2009	30/06/2008	-	Active	NO
8	U35923GJ2009PLC057269	AMW AUTOCOMPONENT LIMITED	Director	16/06/2009	16/06/2009	-	Active	NO
9	U34105MH2010PLC198698	AMW COMMERCIAL VEHICLE APPLICATIONS LIMITED	Director	08/01/2010	08/01/2010	-	Active	NO
10	L15491WB1895PLC000985	ENGO TEA COMPANY LIMITED	Director	08/03/2010	08/03/2010	01/09/2010	Active	NO
11	U74900MH2010PLC201030	AMW ENGINEERING SERVICES LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
12	U35923GJ2011PLC067191	AMW COMPONENTS LIMITED	Director	19/09/2011	19/09/2011	-	Active	NO
13	U35204GJ2011PLC067190	AMW MOTORS LIMITED	Director	19/09/2011	19/09/2011	-	Active	NO
14	U35122MH2012PLC232019	TRANZTAR COMMERCIAL VEHICLE APPLICATIONS LIMITED	Director	11/06/2012	11/06/2012	-	Active	NO

Name :

Mr. Manwant Singh Kulwantsing Johar

Designation :

Director

Address :

77, NRI Colony, Shreeji Nagar, Madhapar, Taluka Bhuj, District Kutch-370020, Gujarat, India

Date of Birth/Age :

21.07.1959

Date of Appointment :

15.11.2010

Din No.:

03306926

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	Company/ LLP Status	Defaulting status
1	U35923GJ2009PLC057269	AMW AUTOCOMPONENT LIMITED	Additional director	15/11/2010	15/11/2010	Active	NO
2	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Whole-time director	28/01/2011	28/01/2011	Active	NO
3	U74920GJ2011PTC066862	KIRTI END TO END SOLUTIONS PRIVATE LIMITED	Director	23/08/2011	23/08/2011	Active	NO

Name :

Mr. Subramanyam Garigipati

Designation :

Director

Address :

304A, Road No. 78, Jubilee Hills, Hyderabad-500034, Andhra Pradesh, India

Date of Birth/Age :

12.09.1954

Date of Appointment :

28.03.2011

Din No.:

01308897

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	U70101TZ2007PTC013564	BLUE MOUNTAIN TOWNSHIP PRIVATE LIMITED	Additional director	24/03/2007	24/03/2007	30/04/2008	Active	NO
2	U70101TZ2007PTC013567	AMARESH HOLDINGS PRIVATE LIMITED	Additional director	27/03/2007	27/03/2007	30/04/2008	Active	NO
3	U70101TZ2007PTC013605	SRI MANIVANNAN HOLDINGS PRIVATE LIMITED	Additional director	05/04/2007	05/04/2007	30/04/2008	Active	NO
4	U52321TN1984PTC011398	TRIMEX INDUSTRIES PRIVATE LIMITED	Director	29/05/2007	29/05/2007	30/04/2008	Active	NO
5	U14299TN2004PTC071437	TRIMEX SANDS PRIVATE LIMITED	Director	11/06/2007	11/06/2007	30/04/2008	Active	NO
6	U45201TZ2007PTC013843	RAKINDO BUILDERS PRIVATE LIMITED	Director	30/08/2007	30/08/2007	30/04/2008	Active	NO
7	U70101TZ2005PTC012371	BLUE MOUNTAIN BUSINESS PARK PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
8	U70101TZ2005PTC012440	NOYYAL INDUSTRIAL PARK PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Active	NO
9	U70101TZ2005PTC012438	NOYYAL GOLF RESORTS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Active	NO
10	U51505TZ2005PTC012439	NOYYAL COMMUNICATIONS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Active	NO
11	U70101TZ2005PTC012437	NOYYAL AGRI RESEARCH PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Active	NO
12	U70101TZ2005PTC012381	SIRUVANI SHELTERS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Active	NO
13	U70101TZ2005PTC012370	SIRUVANI SHOPPING MALLS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Active	NO
14	U70101TZ2005PTC012376	SIRUVANI INDUSTRIAL PARK PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
15	U70101TZ2005PTC012361	SIRUVANI HARDWARE PARK PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
16	U70101TZ2005PTC012375	SIRUVANI HOLDING PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
17	U55102TZ2005PTC012364	SIRUVANI GOLF RESORTS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
18	U31909TZ2005PTC012363	SIRUVANI ELECTRONICS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
19	U74999TZ2005PTC012366	SIRUVANI AGRI RESEARCH PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
20	U70101TZ2005PTC012365	NILGIRI SHOPPING MALLS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
21	U72200TZ2005PTC012362	NILGIRI COMMUNICATION PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
22	U45201TZ2005PTC012374	BLUE MOUNTAIN SHOPPING MALLS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
23	U45201TZ2005PTC012373	BLUE MOUNTAIN MULTIPLEX PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
24	U70101TZ2005PTC012360	BLUE MOUNTAIN IT PARK PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
25	U70101TZ2005PTC012372	BLUE MOUNTAIN INDUSTRIAL PARK PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
26	U70101TZ2005PTC012369	BLUE MOUNTAIN APPAREL PARK PRIVATE LIMITED	Director	12/12/2007	12/12/2007	30/04/2008	Amalgamated	NO
27	U34105MH2010PLC198698	AMW COMMERCIAL VEHICLE APPLICATIONS LIMITED	Additional director	28/08/2010	28/08/2010	-	Active	NO
28	U65921MH2008PLC182234	AMW FINANCE LIMITED	Additional director	28/08/2010	28/08/2010	-	Active	NO
29	U74900MH2010PLC201030	AMW ENGINEERING SERVICES LIMITED	Additional director	28/08/2010	28/08/2010	-	Active	NO
30	U45400MH2007PLC170233	AMW PROPERTIES LIMITED	Additional director	28/08/2010	28/08/2010	-	Active	NO
31	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Whole-time director	18/03/2011	18/03/2011	-	Active	NO
32	U35923GJ2009PLC057269	AMW AUTOCOMPONENT LIMITED	Additional director	28/03/2011	28/03/2011	-	Active	NO
33	U27310KA2006PLC040237	AMW - MGM FORGINGS LIMITED	Director	30/08/2011	21/04/2011	-	Active	NO
34	U67190MH2006PLC163842	ASIA MOTORWORKS HOLDINGS LIMITED	Additional director	08/06/2011	08/06/2011	-	Active	NO
35	U35923GJ2011PLC067191	AMW COMPONENTS LIMITED	Director	19/09/2011	19/09/2011	-	Active	NO
36	U35204GJ2011PLC067190	AMW MOTORS LIMITED	Director	19/09/2011	19/09/2011	-	Active	NO
37	U35122MH2012PLC232019	TRANZTAR COMMERCIAL VEHICLE APPLICATIONS LIMITED	Director	11/06/2012	11/06/2012	-	Active	NO

Name :

Mr. Adhinarayanan Ramsubramanian

Designation :

Whole Time Director

Address :

Flat No. 301, 3^rd Floor, Ekta Exotique, Union Park, Off Sion Trombay Road, Chembur, Mumbai-400071, Maharashtra, India

Date of Birth/Age :

12.09.1954

Date of Appointment :

28.03.2011

Din No.:

03507345

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	Company/ LLP Status	Defaulting status
1	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Whole-time director	18/03/2011	18/03/2011	Active	NO
2	U35923GJ2009PLC057269	AMW AUTOCOMPONENT LIMITED	Additional director	28/03/2011	28/03/2011	Active	NO
3	U27310KA2006PLC040237	AMW - MGM FORGINGS LIMITED	Director	30/08/2011	21/04/2011	Active	NO
4	U35923GJ2011PLC067191	AMW COMPONENTS LIMITED	Director	19/09/2011	19/09/2011	Active	NO
5	U35204GJ2011PLC067190	AMW MOTORS LIMITED	Director	19/09/2011	19/09/2011	Active	NO
6	U34105MH2010PLC198698	AMW COMMERCIAL VEHICLE APPLICATIONS LIMITED	Additional director	10/10/2011	10/10/2011	Active	NO
7	U67190MH2006PLC163842	ASIA MOTORWORKS HOLDINGS LIMITED	Additional director	07/03/2012	07/03/2012	Active	NO
8	U35122MH2012PLC232019	TRANZTAR COMMERCIAL VEHICLE APPLICATIONS LIMITED	Director	11/06/2012	11/06/2012	Active	NO

Name :

Mr. Anand Jamunadas Mimani

Designation :

Director

Address :

99 G, Block F, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

06.12.1976

Date of Appointment :

16.06.2009

Din No.:

01361051

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	U51498WB1993PTC060940	M J AGENCIES PRIVATE LIMITED	Director	10/06/2003	10/06/2003	22/08/2008	Active	NO
2	U15543WB1991PTC053041	SGP AGENCIES PRIVATE LIMITED	Director	10/06/2003	10/06/2003	14/11/2007	Active	NO
3	U51420WB1943PLC011308	DAZZLE PRODUCTS LIMITED	Director	15/07/2004	15/07/2004	-	Strike off	NO
4	U35923GJ2009PLC057269	AMW AUTOCOMPONENT LIMITED	Director	16/06/2009	16/06/2009	-	Active	NO
5	U34105MH2010PLC198698	AMW COMMERCIAL VEHICLE APPLICATIONS LIMITED	Director	08/01/2010	08/01/2010	-	Active	NO
6	U74900MH2010PLC201030	AMW ENGINEERING SERVICES LIMITED	Director	18/03/2010	18/03/2010	-	Active	NO
7	U27310KA2006PLC040237	AMW - MGM FORGINGS LIMITED	Director	30/08/2011	21/04/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Asia Motor Works Holdings Limited, India	49940
Nitin Chamaria Nominees of Asia Motor Works Holdings Limited, India	10
Sajal Gupta Nominees of Asia Motor Works Holdings Limited, India	10
Adhinarayanan Ramsubramanian Nominees of Asia Motor Works Holdings Limited, India	10
Anand Jamunadas Mimani Nominees of Asia Motor Works Holdings Limited, India	10
Anirudh Bhuwalka Nominees of Asia Motor Works Holdings Limited, India	10
Subramanyam Garigipati Nominees of Asia Motor Works Holdings Limited, India	10
Total	50000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Wheel Rims, Stamping Parts, Crash Barriers and Other Allied Auto Components.

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Installed Capacity	Actual Production
Roll Forming	MT	30000	2125
Wheel Rim	Nos.	15000000	295169
Wheel Rim Scrap	MT	NA	675
Press Shop	MT	50000	3005

NOTE: The installed capacity is as certified by management.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

· Bank of Maharashtra, 45/47, Janmangal Building, Bombay Samachar Marg, Fort, Mumbai-400023, Maharashtra, India

Facilities :

UNSECURED LOAN	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Others	387.982	0.000
Total	387.982	0.000

Banking Relations :	--
Auditors :
Name :	A.P. Rajagopalan and Company Chartered Accountants
Address :	No. 8, 1^st Floor, Neelkanth Arcade, R.C. Marg, Chembur, Mumbai-400071, Maharashtra, India
Pan No.:	AAAFA3952B
Holding Company :	Asia Motor Works Holding Limited, India
Fellow Subsidiary :	Asia Motor Works Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		(0.145)	(0.029)
NETWORTH		0.355	0.471
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		387.982	0.000
TOTAL BORROWING		387.982	0.000
DEFERRED TAX LIABILITIES		0.107	0.000
TOTAL		388.444	0.471
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.281	0.000
Capital work-in-progress		29.841	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	660.480	0.000
	Sundry Debtors	225.812	0.000
	Cash & Bank Balances	7.071	0.500
	Other Current Assets	0.000	0.000
	Loans & Advances	157.659	0.000
Total Current Assets		1051.022	0.500
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	683.240	0.000
	Other Current Liabilities	1.766	0.029
	Provisions	8.694	0.000
Total Current Liabilities		693.700	0.029
Net Current Assets		357.322	0.471
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		388.444	0.471

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	372.959	0.000
		Other Income	1.301	0.000
		TOTAL (A)	374.260	0.000
Less	EXPENSES
		Materials Consumed	511.206	0.000
		Excise Duty on Finished Goods	5.505	0.000
		Manufacturing Expenses	46.060	0.000
		Personnel Expenses	23.026	0.000
		Administrative and Other Expenses	16.952	0.030
		Selling and Distribution Expenses	22.641	0.000
		Increase/Decrease in Semi Finished / Finished Goods	(251.186)	0.000
		TOTAL (B)	374.204	0.030
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.056	(0.030)
Less	FINANCIAL EXPENSES (D)		0.011	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.045	(0.030)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.054	0.000
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(0.009)	(0.030)
Less	TAX (H)		0.107	0.000
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(0.116)	(0.030)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.030)	0.000
	BALANCE CARRIED TO THE B/S		(0.146)	(0.030)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.836	0.000
	Earnings / (Loss) Per Share (Rs.)		(2.32)	(0.59)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	(0.03)	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(0.01)	(6.00)
Return on Investment (ROI) (PBT/Networth)		(0.03)	(0.06)
Debt Equity Ratio (Total Liability/Networth)		3046.99	0.06
Current Ratio (Current Asset/Current Liability)		1.52	17.24

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 one year	Yes
12) Profitability for last two 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 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
31) PAN of Proprietor/Partner/Director, if available	No
32) Passport No of Proprietor/Partner/Director, if available	No
33) Voter ID No of Proprietor/Partner/Director, if available	No

MANAGEMENT DISCUSSION AND ANALYSIS:

After two years of slowdown, in the last year, global GDP is estimated to have grown at 3.9%, with growth in all geographies. The Indian economy grew at 8.6% over the year, as against 7.1% in the previous year, with strong recovery in the agricultural sector. Inflation remains a concern with the consumer price index at a double digit level for the second year in a row.

The growth in the economy resulted in a high growth in all segments of the automotive industry. The passenger car and light vehicle segment grew at 25% to come close to 3 million vehicles in the last year. While, the exports of cars marginally slowed down with the removal of the 'scrap page' scheme in Europe, the growth was driven by strong demand in the domestic market. There was a strong growth of almost 30% in the commercial vehicle market in the last year, mainly in the goods carriage segments and the tractor segment grew at 24% in the year.

The Company grew along with domestic industry in all segments. In the coming year, with introduction of new models, the Company is seeing growth in the wheels business. The raw material costs increased significantly last year and are likely to increase in the coming year as well, in line with global commodity trends.

The company is already supplying wheel rims to some of the largest domestic as well as overseas OEM and after-market customers and also in the approved supplier list of major OEMs. Considering significant order book the directors are confident of bright outlook of wheel rim business in coming years.

The biggest challenge for the Company remains cost control in all the areas of operation.

In the coming year, the Indian economy is expected to grow at the same level as last year. The automotive and tractor markets are expected to grow at 15%. However, the continuing hikes in interest rates and fuel prices are likely to result in a slightly muted growth in the commercial vehicle segment. The exports of the Company are expected to grow in the coming year.

It is heartening to note that the Company has been awarded the prestigious steel wheel program from one of the world's largest passenger car manufacturer. Similarly the company has received approval another auto majors. This has been possible because of satisfactory performance of Quality Control System, Strong Technical Review and, follow up processes and positive feedback during factory audit by the leading OEMs.

Diverse range of automotive stamping are manufactured at the company's press shop facility. The clients list includes major automotive manufactures. In the white goods segment, the company supplies compressor shells in domestic market.

In Roll forming segment, the company's bagged order from leading infrastructure companies in India and also from industrial Projects.

The Directors are confident that auto component business has made rapid progress since inception and is poised to make significant contribution to the company's strength.

The company has started its commercial operations in January, 2011. Pending formalization of demerger process and receipt of requisite approvals, the company has been currently carrying its manufacturing activity taking the manufacturing facilities of the auto components division from AMW on lease basis with proper demarcations. The directors are expecting to acquire manufacturing facility in the company by March 2012.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U35923GJ2009PLC057269
Name of the company	AMW AUTOCOMPONENT LIMITED
Address of the registered office or of the principal place of business in India of the company	Ground Floor, Admin Building, AMW Compound, 34 KM Milestone, Bhuj-Bhachau Road, Village Kannaiyabe, Kutch-370020, Gujarat, India
Type of charge	Book Debts Floating Charge Others
Particular of charge holder	Bank of Maharashtra, 45/47, Janmangal Building, Bombay Samachar Marg, Fort, Mumbai-400023, Maharashtra, India
Email	bom2@mahabank.co.in
Nature of description of the instrument creating or modifying the charge	Composite deed of hypothecation for all facilities
Date of instrument Creating the charge	30.03.2012
Amount secured by the charge	Rs.100.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base rate + 5.25% i.e. 15.85% p.a. at present with monthly rests. Rate of interest would be revised to Base rate + 3.65 i.e. 14.25% on approval from competent authority. Terms of Repayment Repayment - Review within Six months. Margin 25%. Extent and Operation of the charge Security to cover principal amount together with interest, costs, charges and expenses etc. Others Charge shall rank on First Pari-passu basis on the Current Assets with other Banks:- Export-Import Bank of India Kotak Mahindra Bank
Short particulars of the property charged	Hypothecation of Stock and Book Debts up to 90 days. Charge ranking Pari-passu with other banks.

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.56.02
UK Pound	1	Rs.86.89
Euro	1	Rs.67.84

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.