1. Summary Information

		Country	India
Company Name	EVERWIN TEXTILE MILLS PRIVATE LIMITED	Principal Name 1	Mr. Periasamy Karuppanna Gounder
Status	Moderate	Principal Name 2	Mr. Jeevarekha Periasamy
		Registration #	18-005535
Street Address	4/12, Chithappa Avenue, Royapuram Main Road, Tirupur – 641601, Tamil Nadu, India
Established Date	25.11.1994	SIC Code	--
Telephone#	91-421-2201742/ 2201743	Business Style 1	Manufacturer
Fax #	91-421-2201743	Business Style 2	--
Homepage	--	Product Name 1	Cotton
# of employees	Not Available	Product Name 2	Yarn
Paid up capital	Rs.65000,000/-	Product Name 3	--
Shareholders	Directors or relatives of Directors – 100%	Banking	Punjab National Bank
Public Limited Corp.	No	Business Period	18 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (28)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
SOURCES OF FUNDS		APPLICATION OF FUNDS
Share Capital	65,000,000	Fixed Assets	183,386,000
Share Application Money	0,000	Invest& other Assets	12,450,000
Reserves & Surplus	62,682,000	Capital work-in-progress	0,000
Deferred Assets	0,000	Deferred Tax Assets	0,000
Net Worth	127,682,000	Miscellaneous Expenses	0,000
Long-term Liabilities	540,394,000	Net Current Assets	472,240,000
Total Liab. & Equity	668,076,000	Total Assets	668,076,000
Total Assets (Previous Year)	559,204,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales (Including other Income)	620,347,000	Net Profit	12,443,000
Sales(Previous yr)	353,218,000	Net Profit(Prev.yr)	7,801,000

MIRA INFORM REPORT

Report Date :

16.06.21012

IDENTIFICATION DETAILS

Name :	EVERWIN TEXTILE MILLS PRIVATE LIMITED
Registered Office :	4/12, Chithappa Avenue, Royapuram Main Road, Tirupur – 641601, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	25.11.1994
Com. Reg. No.:	18-005535
Capital Investment / Paid-up Capital :	Rs.65.000 millions
CIN No.: [Company Identification No.]	U17111TZ1994PTC005535
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture of Cotton Yarn.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 510000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct and as per commitments. The company can be considered for business dealing with some cautions.

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 :	4/12, Chithappa Avenue, Royapuram Main Road, Tirupur – 641601, Tamil Nadu, India
Tel. No.:	91-421-2201742/ 2201743
Fax No.:	91-421-2201743
E-Mail :	etmpl@rediffmail.com etmpl@vsnl.com
Head Office :	54, 2^nd Floor, SKP Building, Sabari St, Binny compound, Tirupur – 641601, Tamil Nadu, India
Tel. No.:	91-421-2201742/ 2201742

DIRECTORS

As on 06.06.2011

Name :

Mr. Periasamy Karuppanna Gounder

Designation :

Managing Director

Address :

4/12, Chithappa Avenue, Rayapuram Main Road, Tirupur – 641601, Tamil Nadu, India

Date of Birth/Age :

16.11.1956

Date of Appointment :

25.11.1994

DIN No.:

01759993

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	U17111TZ1994PTC005535	EVERWIN TEXTILE MILLS PRIVATE LIMITED	Managing director	25/11/1994	25/11/1994	-	Active	NO
2	U17111TZ1995PTC012347	SRI ANDAL SPINNING MILLS PRIVATE LIMITED	Director	28/03/2001	28/03/2001	-	Active	NO
3	U17111TZ2000PTC009324	P V YARN PRIVATE LIMITED	Director	13/06/2001	13/06/2001	-	Active	NO
4	U17111TZ2003PTC010898	REKHA COTTON MILLS PRIVATE LIMITED	Managing director	16/06/2006	16/06/2006	-	Active	NO
5	U18101TZ2008PTC014228	EVERWIN CLOTHINGS PRIVATE LIMITED	Managing director	14/02/2008	14/02/2008	-	Active	NO
6	U18100TZ2009PTC015092	AA FASHION WEAR PRIVATE LIMITED	Managing director	20/03/2009	20/03/2009	-	Active	NO

Name :

Mr. Jeevarekha Periasamy

Designation :

Director

Address :

4/12, Chithappa Avenue, Royapuram Main Road, Tirupur – 641601, Tamil Nadu, India

Date of Birth/Age :

20.07.1970

Date of Appointment :

01.04.2010

DIN No.:

01759947

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.06.2011

Names of Shareholders	No. of Shares
Periasamy Karuppanna Gounder	643500
Jeevarekha Periasamy	6500
Total	650000

As on 06.06.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of Cotton Yarn.

Products :

Item Cod No:	Product Description
5205-11-01	Cotton Yarn
600121-00	Knitted Cloth
52071000	Cotton Holsery Yarn

PRODUCTION STATUS (31.03.2010)

Particulars	Unit	31.03.2010	31.03.2009
Installed Capacity	Spindles	16128	15120
Actual Production Yarn Waste	Kgs Kgs	2870208 523412	2658367 453918

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Punjab National Bank, 23, Park Road, Tirupur - 641601, Tamil Nadu, India

Facilities :

SECURED LOAN	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Punjab National Bank Term Loan – TUFS (Combers)		26.955
Punjab National Bank Term Loan – TUFS (Autoconer)		12.845
Punjab National Bank Term Loan – TUFS (Expansion cum Modernisation)		24.308
Punjab National Bank Term Loan – TUFS (Expansion and Modernisation)	533.707	89.638
SBM Corporate Loan		16.835
SBM Deferral		39.061
Working Capital Punjab National Bank Cash Credit SBM Cash Credit		121.240 80.841
Total	533.707	411.723
UNSECURED LOAN	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Sri. K. Periasamy		1.703
SMT. P. Jeevarekha	6.687	1.853
Kotak Mahindra Private Limited		1.912
Total	6.687	5.468

Banking Relations :	--
Auditors :
Name :	P.Chandrasekar Chartered Accountant
Address :	No.6, Dhanammal Street, Spurtank Road, Chetpet, Chennai – 600031, Tamil Nadu, India
PAN.:	AABPC3751B

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.100/- each	Rs.70.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
650000	Equity Shares	Rs.100/- each	Rs.65.000 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		65.000	65.000	62.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		62.682	49.040	41.239
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		127.682	114.040	103.739
LOAN FUNDS
1] Secured Loans		533.707	411.723	387.458
2] Unsecured Loans		6.687	5.468	4.141
TOTAL BORROWING		540.394	417.191	391.599
DEFERRED TAX LIABILITIES		0.000	1.331	0.624
TOTAL		668.076	532.562	495.962
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		183.386	202.339	176.856
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		12.450	5.262	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		240.018	184.080
	Sundry Debtors		66.799	74.316
	Cash & Bank Balances		2.408	0.593
	Other Current Assets		0.000	0.000
	Loans & Advances		42.378	68.889
Total Current Assets			351.603	327.878
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		22.509	6.883
	Other Current Liabilities		1.917	(2.206)
	Provisions		2.216	4.095
Total Current Liabilities			26.642	8.772
Net Current Assets		472.240	324.961	319.106
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		668.076	532.562	495.962

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		353.218	296.898
		Other Income		6.629	1.656
		TOTAL (A)	620.347	359.847	298.554
Less	EXPENSES
		Raw Material consumed		228.160	177.046
		Power and Fuel		39.744	35.468
		Remuneration and Benefits to Employee		11.936	9.041
		Manufacturing Expenses		17.545	20.034
		Administrative Expenses and Selling Expenses		7.866	7.078
		Increase in stock		(11.768)	(9.049)
		TOTAL (B)	604.972 (Including Finance Expanses and) Depreciation	293.483	239.618
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			66.364	58..936
Less	FINANCIAL EXPENSES (D)			38.017	37.782
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			28.347	21.154
Less/ Add	DEPRECIATION/ AMORTISATION (F)			18.284	18.609
	PROFIT BEFORE TAX (E-F) (G)		15.375	10.063	2.545
Less	TAX		2.932	2.262	0.849
	PROFIT AFTER TAX		12.443	7.801	1.696
	EARNINGS IN FOREIGN CURRENCY		0.000	83.365	9.788
	TOTAL EARNINGS		0.000	83.365	9.788
	Earnings Per Share (Rs.)		608.79	12.48	Na

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.01	2.17	0.57
Net Profit Margin (PBT/Sales)	(%)	NA	2.85	0.86
Return on Total Assets (PBT/Total Assets}	(%)	NA	1.82	0.50
Return on Investment (ROI) (PBT/Networth)		0.12	0.08	0.02
Debt Equity Ratio (Total Liability/Networth)		NA	3.89	3.86
Current Ratio (Current Asset/Current Liability)		NA	13.20	37.38

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 three years	Yes
12) Profitability for last three 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	No
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	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	U17111TZ1994PTC005535
Name of the company	EVERWIN TEXTILE MILLS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	4/12, Chithappa Avenue, Royapuram Main Road, Tirupur – 641601, Tamil Nadu, India Email: etmpl@rediffmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90000705
Type of charge	· Immovable property · Book debts · (Other) Hypothecation of machineries and current assets
Particular of charge holder	Punjab National Bank, Tirupur Branch, 23 Park Road, Tirupur – 641601, Tamil Nadu, India Email: bo0449@pnb.co.in
Nature of instrument creating charge	01.Hypothecation of moveable assets fixed /block assts 02.Hypothecation of goods and book debts to secure cash credit facility 03.Hypothecation of current assets
Date of instrument Creating the charge	21.04.2012
Amount secured by the charge	Rs.336.110 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC (H) - BR+4.25% = 15% at present, interest on TLs - BR+4.25%+TP=15.50% and for other credit limits as per sanction letter. Terms of Repayment Working capital limits - repayable on demand TLs - as per repayment schedules agreed with the bank Margin for cash credit - 25% for stocks and 40% for book debts up to 4 months for TLs as per sanctioned terms and conditions Extent and Operation of the charge Hypothecation of stocks of RM(cotton),sip, packing materials, stores and spares, FGS of yarn, wastes etc lying at the factory premises and other Godowns/places and in transit, domestic/export receivables and other current assets; hypothecation of machineries and other fixed assets;
Short particulars of the property charged	Hypothecation of stocks of RM(cotton), sip, packing materials, stores and spares, FGS of yarn, wastes etc lying at the factory premises and godowns/places and in transit, domestic/export receivables and other current assets and other movables Hypothecation of machineries and other fixed assets; mortgage of land to the extent 8.15 acres and industrial buildings situated at SF no.95/4A,95/5, 95/6A, 95/7,95/8A,95/8B,95/9Cat Santhaegoundanpalayam Village, and such other securities as may be accepted by the Bank from time to time
Date of latest modification prior to the present modification	07.10.2011
Particulars of the present modification	The overall credit limits modified to Rs.336.110 Millions in view of the enhancement of of CC of Rs.230.000 Millions by way of sanction of adhoc limit of Rs.20.000 Millions (BD SL of Rs.40.000 Millions no change in CC PC ,TLs other limits and extn of PP 1st charge on the current assets and 2nd charge on the FAs for the due repayment for WC limits (FB and NFB) among PNB and SBM, extn of pari passu 1st charge on the FAs and PP 2^nd charge on the current assets for the due repayment of all TLs between PNB and SBM

FIXED ASSETS:

· Land

· Buildings

· Plant and machinery

· Electrical Fittings

· Furniture and fittings

· Vehicles

· Computer

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.55.76
UK Pound	1	Rs.86.69
Euro	1	Rs.70.44

INFORMATION DETAILS

Report Prepared by :

DPK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.