MIRA INFORM REPORT

Report Date :

31.07.2012

IDENTIFICATION DETAILS

Name :	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED
Registered Office :	43 Dr V B Gandhi Marg Fort, Mumbai - 400023, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.09.2002
Com. Reg. No.:	11-137202
Capital Investment/ Paid-up Capital:	Rs.45.500 Millions
CIN No.: [Company Identification No.]	U29260MH2002PTC137202
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and sale of speed frames machines.
No. of Employees:	80 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 350000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financially has performed well in the current year. Trade relations are reported to be fair. Business is active. Payment 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
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.

INFORMATION PARTED BY

Name :	Mr. K.P. Singh
Designation :	President
Contact No.:	91-9979096938
Date :	28.07.2012

LOCATIONS

Registered Office :	43 Dr V B Gandhi Marg Fort, Mumbai - 400023, Maharashtra, India
Tel. No.:	91-22-22872245
Mobile No.:	91-9979096938 (91-9979096938)
Fax No.:	91-22-22041690
E-Mail :	ate_fort@ateindia.com
Website :	www.ateindia.com
Location :	Owned
Factory:	Plot No.1685, Survey No.1517, Opposite Telco Cargo, N.H. No.8, Aslali, Narol, Ahmedabad – 382427, Gujarat, India
Tel. No.:	91-2718-261431/261809/261810
Fax No.:	91-2718-261432

DIRECTORS

As on 19.08.2011

Name :

Mr. Sanjay Khatau Asher

Designation :

Director

Address :

Khatau Building, 32, Mody Street, Mumbai – 400001, Maharashtra, India

Date of Birth/Age :

26.11.1964

Date of Appointment :

27.09.2003

Din No.:

00008221

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	U15141MP1992PLC007176	DEWAS SOYA LIMITED	Director	12/09/2011	29/07/1994	19/03/2012	Active	NO
2	U65920MH1994PTC080585	SEENOL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	27/01/1995	27/01/1995	18/03/2010	Active	NO
3	U24231MH1979PTC020957	FINOLIB CHEMICALS PVT LTD	Director	30/09/1995	30/09/1995	-	Amalgamated	NO
4	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	01/07/1998	01/07/1998	-	Active	NO
5	U63000MH1998PTC117292	ALLIED PICKFORDS INDIA PRIVATE LIMITED	Director	01/12/1998	01/12/1998	-	Active	NO
6	U65993MH1980PTC022723	MAJESTY INVESTMENTS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Amalgamated	NO
7	U74999MH1971PTC015021	ORBIT ELECTRICALS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Active	NO
8	U26954MH1969PTC014245	SIPOREX INDIA Private LIMITED	Director	29/04/1999	29/04/1999	-	Active	NO
9	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	02/08/1999	02/08/1999	-	Active	NO
10	L01542KA1995PLC019046	SHREE RENUKA SUGARS LIMITED	Director	05/08/1999	05/08/1999	-	Active	NO
11	U27108TN1999PTC069389	MIGATRONIC INDIA PRIVATE LIMITED	Director	07/09/1999	07/09/1999	29/06/2009	Active	NO
12	U51900MH1999PTC122481	DIAMANT BOART MARKETING PRIVATE LIMITED	Director	01/11/1999	01/11/1999	-	Active	NO
13	L22200MH1993PLC071431	REPRO INDIA LIMITED	Director	02/05/2000	02/05/2000	-	Active	NO
14	U92132MH1995PLC085835	INDUSIND MEDIA AND COMMUNICATION LIMITED	Director	29/06/2000	29/06/2000	31/12/2006	Active	NO
15	U33111MH2000FTC129835	TEVAPHARM INDIA PRIVATE LIMITED	Director	01/12/2000	01/12/2000	08/09/2011	Active	NO
16	U85199MH2002PTC135700	ARJOHUNTLEIGH HEALTHCARE INDIA PRIVATE LIMITED	Director	30/04/2002	30/04/2002	-	Active	NO
17	U66010PN2000PLC015329	BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
18	U66010PN2001PLC015959	BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
19	U24230MH2002PTC136896	MEPHA PHARMA INDIA PRIVATE LIMITED	Director	20/08/2002	20/08/2002	-	Strike off	NO
20	U65990MH1993FTC074460	MORGAN STANLEY INVESTMENT MANAGEMENT PRIVATE LIMITED	Director	09/04/2003	09/04/2003	-	Active	NO
21	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES Private Limited	Director	20/09/2003	20/09/2003	-	Active	NO
22	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	27/09/2003	27/09/2003	-	Active	NO
23	U74140MH2004PTC144831	A L MANAGEMENT PRIVATE LIMITED	Director	03/03/2004	03/03/2004	-	Active	NO
24	L29199GJ1981PLC028741	INTEGRA ENGINEERING INDIA LIMITED	Director	11/03/2004	11/03/2004	18/02/2011	Active	NO
25	U92419MH2000PTC129811	CRICINFO ONLINE INDIA PRIVATE LIMITED	Director	16/04/2004	16/04/2004	-	Active	NO
26	U72900MH2001PTC131322	CRICINFO DATA SERVICES PRIVATE LIMITED	Director	16/04/2004	16/04/2004	-	Active	NO
27	U74140MH2004PTC146033	N V ADVISORY SERVICES PRIVATE LIMITED	Director	30/04/2004	30/04/2004	-	Active	NO
28	L22219DL1955PLC211606	Infomedia Press Limited	Director	24/05/2004	24/05/2004	21/08/2008	Active	NO
29	U74210MH2003PTC142289	ENGINEERING AND DESIGNS TECNIMONT ICB PRIVATE LIMITED	Director	22/02/2005	22/02/2005	31/03/2008	Amalgamated	NO
30	U29120MH2005PTC152258	SAURER PRECICOMP PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Amalgamated	NO
31	U30009MH1991PTC064182	I2IT PRIVATE LIMITED	Director	23/08/2006	28/01/2006	05/02/2011	Active	NO
32	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Director	18/05/2006	18/05/2006	-	Active	NO
33	U64202PN1999PLC013499	DIVINET ACCESS TECHNOLOGIES LIMITED	Additional director	04/08/2006	04/08/2006	05/04/2010	Active	NO
34	U45201PN2006FTC138676	BIOPHARMAX INDIA PRIVATE LIMITED	Director	15/09/2006	15/09/2006	10/03/2008	Active	NO
35	U60231TN2006PTC061597	C.H. Robinson Worldwide Freight India Private Limited	Director	27/11/2006	27/11/2006	01/12/2006	Active	NO
36	L99999MH1964PLC012835	ASIAN ELECTRONICS LIMITED	Director	23/12/2006	23/12/2006	05/11/2008	Active	NO
37	U66010MH2007PLC166770	Universal Sompo General Insurance Company Limited	Director	05/01/2007	05/01/2007	12/01/2007	Active	NO
38	U72900MH2005PLC157255	SPARSH BPO SERVICES LIMITED	Director	14/09/2007	23/01/2007	07/07/2011	Active	NO
39	U45203PN2007PLC129575	FINOLEX INFRASTRUCTURE LIMITED	Director	07/02/2007	07/02/2007	18/12/2010	Active	NO
40	L17120MH1984PLC033553	MANDHANA INDUSTRIES LIMITED	Director	16/05/2007	16/05/2007	-	Active	NO
41	U29253DL2007PTC161715	INDO-FILL Elastomer Private Limited	Director	30/09/2008	16/05/2007	-	Active	NO
42	L36759MH1985PLC036759	SHARP INDIA LIMITED	Director	29/08/2008	23/07/2007	-	Active	NO
43	U29269MH2007PTC174534	ALLMA MACHINES PRIVATE LIMITED	Director	26/09/2007	26/09/2007	-	Strike off	NO
44	U29261MH2007PTC174544	VOLKMANN MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
45	U29261MH2007PTC174543	OERLIKON TEXTILE COMPONENTS INDIA PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Amalgamated	NO
46	U29261MH2007PTC174542	NEUMAG MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
47	U74140PN2007PTC131026	ValueQb Consulting Private Limited	Director	22/11/2008	14/12/2007	-	Active	NO
48	U29253MH2007PTC176977	BARMAG MACHINES PRIVATE LIMITED	Director	19/12/2007	19/12/2007	-	Strike off	NO
49	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS Private Limited	Director	27/08/2008	29/01/2008	-	Active	NO
50	U25200MH2006PTC161549	NARENDRA PLASTIC PRIVATE LIMITED (PART IX)	Additional director	31/01/2008	31/01/2008	27/03/2008	Active	NO
51	U22219MH2008PTC181740	HH Print Management India Private Limited	Director	29/04/2008	29/04/2008	24/05/2012	Active	NO
52	U74140MH2008PTC183020	Wachovia Advisory Services Private Limited	Director	02/06/2008	02/06/2008	05/11/2008	Active	NO
53	U63000MH2008PTC188331	MASTER VOSS INTERNATIONAL PROJECTS PRIVATE LIMITED.	Director	18/09/2009	20/11/2008	-	Active	NO
54	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Director	24/01/2009	24/01/2009	-	Active	NO
55	U27109PN1986FTC040525	HOGANAS INDIA Private Limited	Alternate director	07/05/2009	07/05/2009	-	Active	NO
56	U29253MH2010PTC199933	SCHLAFHORST MACHINES PRIVATE LIMITED	Director	10/02/2010	10/02/2010	-	Active	NO
57	L99999MH1961PLC012185	BALKRISHNA INDUSTRIES LIMITED	Director	29/05/2010	29/05/2010	-	Active	NO
58	U93000MH2010PTC199627	ENAM INFRASTRUCTURE TRUSTEESHIP SERVICES PRIVATE LIMITED	Director	12/07/2010	12/07/2010	-	Active	NO
59	U27205MH2007PLC172598	TRIBHOVANDAS BHIMJI ZAVERI LIMITED	Director	04/07/2011	14/12/2010	-	Active	NO
60	L34101TN1948PLC000105	ASHOK LEYLAND LIMITED	Director	19/07/2011	21/12/2010	-	Active	NO
61	U55101MH2010PTC209517	Indian Cookery Private Limited	Director	01/03/2011	01/03/2011	-	Active	NO
62	L29150PN1989PLC054143	SANGHVI MOVERS LIMITED	Additional director	30/09/2011	30/09/2011	-	Active	NO
63	U31900MH1998PTC117068	RAVE TECHNOLOGIES (INDIA) PRIVATE LIMITED	Additional director	11/11/2011	11/11/2011	02/12/2011	Active	NO
64	L29309PN1991PLC063045	INNOVENTIVE INDUSTRIES LIMITED	Additional director	16/12/2011	16/12/2011	-	Active	NO
65	U74120MH2011PTC225156	LR Scandpower Risk Consultancy Private Limited	Director	20/12/2011	20/12/2011	05/03/2012	Active	NO
66	U74120MH2012PTC225641	Wifag-Polytype India Marketing Private Limited	Director	02/01/2012	02/01/2012	14/02/2012	Active	NO
67	L40108PN1981PLC024153	FINOLEX INDUSTRIES LIMITED	Additional director	04/02/2012	04/02/2012	-	Active	NO
68	U61200MH2010PTC208582	VARUN MARITIME PRIVATE LIMITED	Director	22/03/2012	22/03/2012	-	Active	NO
69	U61200MH2010PTC209141	VARUN GLOBAL PRIVATE LIMITED	Director	22/03/2012	22/03/2012	-	Active	NO
70	U61200MH2010PTC208659	VARUN RESOURCES PRIVATE LIMITED	Director	22/03/2012	22/03/2012	-	Active	NO
71	L24390MH1976PLC019380	J B CHEMICALS AND PHARMACEUTICALS LIMITED	Alternate director	18/04/2012	18/04/2012	-	Active	NO
72	U74930MH2010FTC207485	Arch Protection Chemicals Private Limited	Additional director	08/05/2012	08/05/2012	-	Active	NO

Name :

Mr. Anuj Atul Bhagwati

Designation :

Director

Address :

Nishat, 6, M L Dahanukar Marg, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

06.10.1968

Date of Appointment :

13.09.2002

Din No.:

00094776

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	U74140MH1971PTC015101	A.T.E. Private Limited	Director	19/09/1996	19/09/1996	-	Active	NO
2	U24100MH1974PTC017999	ITHACA HOLDINGS PRIVATE LIMITED	Director	23/02/1999	23/02/1999	-	Amalgamated	NO
3	U74210MH1982PTC027139	HOLTEX ENGINEERING COMPANY PRIVATE LIMITED	Director	28/12/1999	28/12/1999	-	Active	NO
4	U51503MH2001PTC132921	A.T.E. Enterprises Private Limited.	Managing director	31/07/2001	31/07/2001	-	Active	NO
5	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	13/09/2002	13/09/2002	-	Active	NO
6	U28100MH1977PTC019735	Truetzschler India Private Limited	Director	30/09/2005	30/09/2005	-	Active	NO
7	U29299MH2004PTC164341	EcoAxis Systems Private Limited	Director	19/01/2006	19/01/2006	-	Active	NO
8	U51900MH1984PTC034694	NAB TRADING AND INVESTMENT PRIVATE LIMITED	Director	05/06/2006	05/06/2006	-	Amalgamated	NO
9	U65990MH1982PTC027773	VITEX TRADING AND INVESTMENT PRIVATE LIMITED	Director	05/06/2006	05/06/2006	-	Active	NO
10	U51900MH1980PLC022289	MATCON EXPORT ENTERPRISES LIMITED	Director	28/08/2006	28/08/2006	-	Active	NO
11	U28920MH1998PTC219008	HMX Systems Private Limited	Nominee director	14/05/2008	14/05/2008	-	Active	NO
12	U74999MH2000PTC127595	A.T.E. Envirotech Private Limited	Nominee director	18/07/2008	18/07/2008	-	Active	NO
13	U31909MH2003PTC224885	VALENCE ELECTRONS PRIVATE LIMITED	Director	27/07/2009	03/02/2009	-	Active	NO
14	U29253MH2009FTC193151	Karl Mayer India Private Limited	Nominee director	09/06/2009	09/06/2009	10/12/2009	Active	NO

Name :

Mr. Khurshed Meherwanji Thanawalla

Designation :

Director

Address :

Khatau Bungalow, Ground Floor 6, Manav Mandir Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

24.12.1942

Date of Appointment :

27.09.2003

Din No.:

00201749

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	U74999MH1984PTC033839	AHURA HOLDINGS PRIVATE LIMITED	Director	24/08/1984	24/08/1984	-	Active	NO
2	U29100MH1984PTC033494	BIMAG MACHINES PRIVATE LIMITED	Director	24/11/1988	24/11/1988	-	Dissolved	NO
3	U29261MH1994PTC076139	OERLIKON TEXTILE INDIA PRIVATE LIMITED	Managing director	01/06/1995	01/06/1995	-	Active	NO
4	U67120MH2000PTC126655	GIRIBALA PROPERTIES PRIVATE LIMITED	Director	13/09/2002	13/09/2002	19/10/2010	Active	NO
5	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	27/09/2003	27/09/2003	-	Active	NO
6	L29199GJ1981PLC028741	INTEGRA ENGINEERING INDIA LIMITED	Director	28/10/2004	28/10/2004	03/01/2011	Active	NO
7	L45200GJ1973PLC050790	STOVEC INDUSTRIES LIMITED	Director	28/01/2005	28/01/2005	-	Active	NO
8	U29120MH2005PTC152258	SAURER PRECICOMP PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Amalgamated	NO
9	U29253DL2007PTC161715	INDO-FILL Elastomer Private Limited	Director	09/04/2007	09/04/2007	-	Active	NO
10	U29269MH2007PTC174534	ALLMA MACHINES PRIVATE LIMITED	Director	26/09/2007	26/09/2007	-	Strike off	NO
11	U29261MH2007PTC174544	VOLKMANN MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
12	U29261MH2007PTC174543	OERLIKON TEXTILE COMPONENTS INDIA PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Amalgamated	NO
13	U29261MH2007PTC174542	NEUMAG MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
14	L17120MH1984PLC033553	MANDHANA INDUSTRIES LIMITED	Director	29/09/2008	04/12/2007	-	Active	NO
15	U29253MH2007PTC176977	BARMAG MACHINES PRIVATE LIMITED	Director	19/12/2007	19/12/2007	-	Strike off	NO
16	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS Private Limited	Director	27/08/2008	29/01/2008	-	Active	NO
17	U63000MH2008PTC188331	MASTER VOSS INTERNATIONAL PROJECTS PRIVATE LIMITED.	Director	19/11/2008	19/11/2008	-	Active	NO
18	L61100MH1971PLC014985	VARUN SHIPPING COMPANY LIMITED	Director	04/08/2010	27/01/2009	-	Active	NO
19	U29253MH2010PTC199933	SCHLAFHORST MACHINES PRIVATE LIMITED	Director	10/02/2010	10/02/2010	-	Active	NO
20	U34300DL1997PTC087224	GRAZIANO TRASMISSIONI INDIA PRIVATE LIMITED	Director	29/09/2010	31/03/2010	-	Active	NO
21	U61200MH2011PLC215986	VARUN GAS INFRASTRUCTURE LIMITED	Director	08/04/2011	08/04/2011	-	Active	NO

Name :

Mr. Gerard Johannes Kuesters

Designation :

Director

Address :

Rontgenstr 19, Schorndorf – 73614, Germany

Date of Birth/Age :

12.06.1963

Date of Appointment :

24.08.2007

Din No.:

01785287

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	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	24/08/2007	24/08/2007	-	Active	NO
2	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS Private Limited	Director	27/08/2008	31/10/2007	-	Active	NO
3	U29261MH1994PTC076139	OERLIKON TEXTILE INDIA PRIVATE LIMITED	Director	26/09/2009	17/11/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Sarita Jayesh Ahuja
Designation :	Secretary
Address :	K-20, Bima Nagar
Date of Birth/Age :	24.05.1970
Date of Appointment :	01.03.2007
Pan No.:	ABNPA3483H
Name :	Mr. K.P. Singh
Designation :	President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.08.2011

Names of Shareholders	No. of Shares
Anuj Atul Bhagwati	1
A.T.E. Private Limited – India	1364999
Oerlikon Textile Gmbh and Company KG	3185000
Total	4550000

As on 19.08.2011

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	70.00
Bodies corporate	30.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture and sale of speed frames machines.
Exports :
Products :	Speed frames machines.
Countries :	Germany
Terms :
Selling :	Cash/Credit
Purchasing :	Cash/Credit

PRODUCTION STATUS

Particulars	As on 31.03.2011
Licensed Capacity	169
Installed Capacity	169
Actual Production	81

GENERAL INFORMATION

Customers :	Wholesalers, Retailers
No. of Employees :	80 (Approximately)
Bankers :	Karur Vysya Bank, Narol Branch

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountant
Address :	Lodha Excelus, 1^st Floor, Apollo Mills Compound, N.M Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India
Tel. No.:	91-22-39896000
Fax No.:	91-22-39836000
Pan No.:	AAIFB4734C
Holding Company :	· Oerlikon Gmbh and Company K.G. · Oerlikon Textile Gmbh and Company K.G.
Affiliates :	· A.T.E. Enterprises Private Limited, Bombay · Zinser Zweigniederlassung Der · Schlafhorst Engineering (India) Limited · Trumac Enginerring Company Private Limited · Saurer (China) Technology Company Limited · Oerlikon IT Solutions Limited · Oerlikon Textile India Private Limited · A.T.E. Private Limited · Oerlikon textile Gmbh Information Technology Limited · Oerlikon (China) Technology Company · Oerlikon Textile Components India Private Limited · Texparts Gmbh

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
4550000	Equity Share	Rs.10/- each	Rs.45.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4550000	Equity Share	Rs.10/- each	Rs.45.500 Millions

Note :

(Of the above, 3185000 (2010: 318500) equity shares of Rs 10 each, fully paid up are held by Oerlikon Gmbh and Company K.G.,1364999 (2010:1364999) equity shares of Rs.10 each, fully paid up are held by M/s. A.T.E. private Limited and 1 (2010 :1) equity share of Rs.10 is jointly owned by Mr. Anuj Atul Bhagawati and M/s A.T.E. private limited). OC Oerlikon Corporation A.G.,Pfaffikon is the ultimate holding company.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2011	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		45.500	45.500	45.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		41.745	3.124	17.153
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		87.245	48.624	62.653
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		87.245	48.624	62.653
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.639	19.156	18.914
Capital work-in-progress		0.425	0.000	15.819
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		3.940	0.000	0.490
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	80.840	48.870	88.990
	Sundry Debtors	12.833	1.151	0.398
	Cash & Bank Balances	103.051	26.595	13.385
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.330	10.099	12.118
Total Current Assets		210.054	86.715	114.891
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	39.913	24.151	37.752
	Other Current Liabilities	90.106	30.664	47.078
	Provisions	14.794	2.432	2.631
Total Current Liabilities		144.813	57.247	87.461
Net Current Assets		65.241	29.468	27.430
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		87.245	48.624	62.653

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	387.350	210.430
		Other Income	NA	2.056
		TOTAL	NA	212.486	141.842
Less	EXPENSES		NA	226.025	149.100
	PROFIT BEFORE TAX		49.970	(13.539)	(7.258)
Less	TAX		0.000	0.491	5.881
	PROFIT AFTER TAX		49.970	(14.030)	(13.139)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	10.829	17.355	0.399
	IMPORTS
		Raw Materials and spares	149.763	58.056	45.385
		Traded Spares	0.000	0.000	4.359
	Earnings Per Share (Rs.)		8.49	(3.80)	(2.89)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2011	31.03.2009
PAT / Total Income	(%)	NA	(6.60)	(9.26)
Net Profit Margin (PBT/Sales)	(%)	12.90	(6.43)	NA
Return on Total Assets (PBT/Total Assets}	(%)	21.95	(12.78)	(5.42)
Return on Investment (ROI) (PBT/Networth)		0.57	(0.27)	(0.11)
Debt Equity Ratio (Total Liability/Networth)		1.66	1.17	1.39
Current Ratio (Current Asset/Current Liability)		1.45	1.51	1.31

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	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
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 the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
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
PAN of Proprietor/Partner/Director, if available	No
Passport No of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No

BACKGROUND:

The Company was incorporated on 13 September 2002. The company is manufacturing company and its principle activities comprise of manufacture and sale of speed frames 68i machines also known roving frames and the sale of related spares. The company manufactures speed frame machines viz: - 120 spindles ‘3’ roller machines, 144 spindles ‘3’ roller machines and 160 spindle ‘3’ roller machines.

OPERATIONS:

During the year the company has sold 81 machines as against 44 machines sold in the last financial year. The turnover during the current year was Rs.387.3520 Million as against Rs.210.430 Million in the previous year. The company has closed its year with profit before tax of Rs.49.970 Million as against loss of Rs.13.540 Million in the previous year. Due to reduction in variable costs, optimization of fixed costs, mo write off towards impairment o f any development expenses and increase in demand for long Roaving Frames (with lower proportion of materials cost) there has been a turn around

FUTURE OUTLOOK

The company has sufficient orders on hand, hence the company will be able to sustain the growth already achieved in the year 2010-11

FIXED ASSETS:

Intangible Assets:

· Technical Know-how fees

· Computer software

Tangible Assets:

· Leasehold Improvement

· Plant and Machinery

· Computer hardware

· Office Equipment

· Furniture and Fixture

· 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.55.44
UK Pound	1	Rs.87.12
Euro	1	Rs.68.15

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	NO
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.