MIRA INFORM REPORT

Report Date :

22.06.2012

IDENTIFICATION DETAILS

Name :	MRK PIPES LIMITED
Registered Office :	Parasrampuria Chambers, Opp Road No. 1, VKI Area, Jaipur – 302013, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	31.07.2000
Com. Reg. No.:	17-022268
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U26493RJ2000PLC022268
TAN No.: [Tax Deduction & Collection Account No.]	BPLM02162G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Asbestos Cement Sheet and Asbestos Pressure Pipes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 1000000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears accumulate loss recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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

LOCATIONS

Registered Office :	Parasrampuria Chambers, Opp Road No. 1, VKI Area, Jaipur – 302013, Rajasthan
Tel. No.:	91-141-2331114 / 2330402
Fax No.:	91-141-2330502
E-Mail :	expertprocs@gmail.com mail@mrkpipes.com
Website :	http://www.mrkpipes.com

DIRECTORS

(AS ON 31.03.2011)

Name :	Mr. Rakesh Akar
Designation :	Director
Address :	10/22, Vidhyadha Nagar, Jaipur- 302023 , Rajasthan, India
Date of Birth/Age :	23.09.1962
Date of Appointment :	26.07.2003
DIN No.:	01605919

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	U26493RJ2000PLC022268	MRK PIPES LIMITED	Whole-time director	01-04-10	26-07-03	-	Active	NO
2	U26943RJ1999PTC015807	AGAM CEMENT PRODUCTS PRIVATE LIMITED	Director	31-08-04	31-08-04	-	Active	NO
3	U27310RJ2005PLC020126	GARIMA OVERSEAS LIMITED	Director	12-01-05	12-01-05	14-01-12	Active	NO
4	L19201RJ1994PLC008196	LAWRESHWAR POLYMERS LIMITED	Director	23-07-05	23-07-05	-	Active	NO
5	U26943RJ2005PLC021807	SHANTIKRIPA INDUSTRIES LIMITED	Director	22-12-05	22-12-05	-	Active	NO

Name :	Mr. Dinesh Kumar Parasrampuria
Designation :	Director
Address :	Plot No. 26, Vijaywadi Path No. 7, Dher Ka Balaji Vishwa Karma, Jaipur - 302013, Rajasthan, India
Date of Birth/Age :	10.02.1962
Date of Appointment :	26.07.2003
DIN No.:	01689441

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	U26943RJ1990PTC005599	PARAS-RAM-PURIA CEMENT PRIVATE LIMITED	Director	19-09-90	19-09-90	25-12-06	Active	NO
2	U25209RJ1993PLC007727	PARASRAMPURIA POLYTEX LIMITED	Director	04-10-93	04-10-93	-	Active	NO
3	U25191RJ1999PTC015898	PARASRAMPURIA RUBBER PRIVATE LIMITED	Director	24-09-99	24-09-99	-	Active	YES
4	U25202RJ2000PTC016109	PARASRAMPURIA POLYFEB PRIVATE LIMITED	Director	21-01-00	21-01-00	-	Active	YES
5	U26493RJ2000PLC022268	MRK PIPES LIMITED	Whole-time director	01-04-10	26-07-03	-	Active	NO
6	U27310RJ2005PLC020126	GARIMA OVERSEAS LIMITED	Director	12-01-05	12-01-05	-	Active	NO
7	U26943RJ2005PLC021807	SHANTIKRIPA INDUSTRIES LIMITED	Director	22-12-05	22-12-05	-	Active	NO

Name :	Mr. Gopal Das Garg
Designation :	Director
Address :	30, Manishpuri Colony, Near Saket Nagar, Indore – 452018, Madhya Pradesh, India
Date of Birth/Age :	29.11.1947
Date of Appointment :	30.06.2009
DIN No.:	02720625

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	U26493RJ2000PLC022268	MRK PIPES LIMITED	Director	30-11-09	30-06-09	Active	NO
2	U07414MP1997PTC011529	SKYLINE ADVISORY SERVICES PRIVATE LIMITED	Director	11-08-11	25-09-10	Active	NO
3	U65922MP1961PTC000931	INDORE LAND & FINANCE PRIVATE LIMITED	Director	11-08-11	23-04-11	Active	NO
4	U45200MH1986PTC040430	SAURABH PROPERTIES PRIVATE LIMITED	Director	30-07-11	23-04-11	Active	NO
5	U91120MP2011NPL026525	Treasure Fantasy Township Residents Welfare Association	Director	05-08-11	05-08-11	Active	NO
6	U91120MP2011NPL026524	TREASURE FANTASY VIHAR RESIDENTS WELFARE ASSOCIATION	Director	05-08-11	05-08-11	Active	NO

Name :	Mr. Suresh Kumar Talati
Designation :	Director
Address :	72, Indralok Colony, Kesar Bagh Road, Indore – 452006, Madhya Pradesh, India
Date of Birth/Age :	12.12.1938
Date of Appointment :	30.06.2009
DIN No.:	00144120

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	U31390MH1976PTC026553	DUMET WIRE INDIA PVT LTD	Director	21-12-84	21-12-84	-	Active	NO
2	U65922MP1961PTC000931	INDORE LAND & FINANCE PRIVATE LIMITED	Director	03-02-86	03-02-86	-	Active	NO
3	U74999MP1959PTC000882	KALANI BROTHERS (INDORE) PRIVATE LIMITED	Director	21-08-99	21-08-99	-	Active	NO
4	U02694MP1974PTC001261	VINDHYA CEMENT PRIVATE LIMITED	Director	19-11-01	19-11-01	-	Active	NO
5	U45201MP2002PTC014963	PADMA HOMES PRIVATE LIMITED	Director	31-01-02	31-01-02	-	Active	NO
6	U51900MH1984PTC033870	MISCELLANI GLOBAL PRIVATE LIMITED	Director	19-03-03	19-03-03	-	Active	NO
7	U45201MP1985PTC002923	TRIPLE A CONSTRUCTIONS PVT LTD	Director	05-04-04	05-04-04	-	Active	NO
8	U45203MP1990PTC005662	TRIPLE A REAL ESTATE PVT. LTD.	Director	05-04-04	05-04-04	-	Active	NO
9	U26493RJ2000PLC022268	MRK PIPES LIMITED	Director	30-11-09	26-09-05	-	Active	NO
10	L51909WB1982PLC035424	GAGAN COMMERCIAL AGENCIES LTD	Director	28-09-07	15-10-06	30-07-08	Active	NO
11	L01132WB1983PLC035842	OLIVE COMMERCIAL CO LTD	Whole-time director	01-06-07	01-06-07	-	Active	NO
12	U74999MH1974PTC163677	KALANI INDUSTRIES Private LIMITED	Additional director	15-03-08	15-03-08	30-06-08	Active	NO
13	U07414MP1997PTC011529	SKYLINE ADVISORY SERVICES PRIVATE LIMITED	Director	26-09-08	27-03-08	-	Active	NO
14	U70100MH2007PTC168010	FANTASY REAL ESTATES PRIVATE LIMITED	Director	25-09-09	15-11-08	-	Active	NO
15	U51109WB2007PTC113300	CHITRAKOOT MERCANTILES PRIVATE LIMITED	Director	30-09-09	17-11-08	-	Converted to LLP and dissolved	NO
16	U45200WB2007PTC114006	ECSTASY HEIGHTS PRIVATE LIMITED	Director	25-09-09	11-12-08	-	Converted to LLP and dissolved	NO
17	U70101WB2007PTC118016	WANDERLAND CONSTRUCTIONS PRIVATE LIMITED	Director	28-09-09	11-12-08	-	Active	NO
18	U70101WB2007PTC118009	HIGH BEAM REALITY PRIVATE LIMITED	Director	29-09-09	11-12-08	-	Active	NO
19	U70101WB2007PTC118015	Gemini Heights Private Limited	Director	30-09-09	11-12-08	-	Active	NO
20	AAA-4191	EXCELLENCE PROPERTIES LLP	-	22-03-11	22-03-11	-	Active	NO
21	AAA-4191	EXCELLENCE PROPERTIES LLP	-	22-03-11	22-03-11	-	Active	NO

Name :	Mr. Rajesh Dubey
Designation :	Director
Address :	H NO. 412, Nanda Nagar, Road No. 4, Indore – 452001, Madhya Pradesh, India
Date of Birth/Age :	31.08.1962
Date of Appointment :	05.09.2009
DIN No.:	01646392

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	U51109WB2007PTC113300	CHITRAKOOT MERCANTILES PRIVATE LIMITED	Director	28-09-07	14-09-07	-	Converted to LLP and dissolved	NO
2	U51109WB1994PTC062723	RATANGIRI VINIMAY PVT LTD	Director	30-09-07	14-09-07	10-12-08	Active	NO
3	U51109WB2007PTC113282	AMBIKA COMMERCIAL PRIVATE LIMITED	Director	20-09-07	14-09-07	-	Converted to LLP and dissolved	NO
4	U45202MH1986PTC041351	HIGH-SKEY PROPERTIES PRIVATE LIMITED	Director	26-09-09	17-11-08	-	Active	NO
5	U74999MH1979PTC021494	VIBGYOR LAMINATES PRIVATE LIMITED	Director	23-09-09	17-11-08	-	Active	NO
6	U45200MH1986PTC040429	SUNRISE PROPERTIES PVT LTD	Director	24-09-09	17-11-08	-	Active	NO
7	U51900MH1979PTC021558	SAKA TRADINGS PRIVATE LIMITED	Director	22-09-09	17-11-08	-	Active	NO
8	U50300MP1993PTC007973	SANOVI TRADING PVT LTD	Director	17-09-09	17-11-08	-	Active	NO
9	U50300MP1993PTC007729	PUSTI TRADING PRIVATE LIMITED	Director	19-09-09	17-11-08	-	Active	NO
10	U26493RJ2000PLC022268	MRK PIPES LIMITED	Director	30-11-09	30-12-08	-	Active	NO
11	U45400WB2008PTC128684	CRYSTAL 3 POWER PRIVATE LIMITED	Director	31-12-09	11-09-09	-	Active	NO
12	U51909WB1995PTC070277	PACE MAN TRADERS PVT.LTD.	Director	30-09-11	23-08-11	-	Active	NO
13	AAA-4191	EXCELLENCE PROPERTIES LLP	-	22-03-11	22-03-11	-	Active	NO
14	AAA-4191	EXCELLENCE PROPERTIES LLP	-	22-03-11	22-03-11	-	Active	NO

Name :	Mr. Neeraj Kumar Jain
Designation :	Director
Address :	H NO. 348, Sudama Nagar, Indore – 452009, Madhya Pradesh, India
Date of Birth/Age :	31.08.1962
Date of Appointment :	05.09.2009
DIN No.:	02245051

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	U70101MH1986PTC041354	FOUR DIMENSION PROPERTIES PRIVATE LIMITED	Director	25-09-08	10-07-08	-	Active	NO
2	U17100MH1979PTC021493	FAB-SYNTEX PRIVATE LIMITED	Director	25-09-08	11-07-08	-	Active	NO
3	U45201MP1985PTC002923	TRIPLE A CONSTRUCTIONS PVT LTD	Director	26-09-08	12-07-08	-	Active	NO
4	U24232MP2006PTC018737	Dreamworld Developers Private Limited	Director	26-09-08	12-07-08	-	Active	NO
5	U50300MP1993PTC007973	SANOVI TRADING PVT LTD	Director	26-09-08	12-07-08	-	Active	NO
6	U25209MP1991PTC006186	KRISHNAYAN DEVELOPERS PRIVATE LIMITED	Additional director	21-10-08	21-10-08	01-11-08	Active	NO
7	U51109WB1994PTC062723	RATANGIRI VINIMAY PVT LTD	Director	29-09-09	17-11-08	-	Active	NO
8	U26493RJ2000PLC022268	MRK PIPES LIMITED	Director	30-11-09	05-09-09	-	Active	NO
9	U72200MH2008PTC183410	Arc Retail Private Limited	Director	30-09-10	30-09-09	-	Active	NO
10	L51909WB1982PLC035424	GAGAN COMMERCIAL AGENCIES LTD	Director	30-09-09	30-09-09	-	Active	NO
11	U45201MP2002PTC014963	PADMA HOMES PRIVATE LIMITED	Director	30-09-11	30-06-11	-	Active	NO
12	AAA-3319	AMBIKA COMMERCIAL LLP	-	06-01-11	06-01-11	-	Active	NO
13	AAA-3319	AMBIKA COMMERCIAL LLP	-	06-01-11	06-01-11	-	Active	NO

Name :	Mr. Kapil Parasrampuria
Designation :	Director
Address :	Plot No. 26, Path No. 7, Vijay Bari, Dher Ka Balaji Vishwa Karma, Jaipur - 302013, Rajasthan, India
Date of Birth/Age :	10.02.1980
Date of Appointment :	29.03.2008
DIN No.:	01685477

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	U26943RJ1996PTC011827	SHRI GANPATI ASBESTOS PRIVATE LIMITED	Director	25-08-04	25-08-04	Active	NO
2	U26493RJ2000PLC022268	MRK PIPES LIMITED	Director	30-09-08	29-03-08	Active	NO
3	U01122RJ2010PTC030978	SANCHAY AGRIFARMS PRIVATE LIMITED	Director	15-02-10	15-02-10	Active	NO
4	U52190RJ2011PTC037123	SURABHI TRADEMART PRIVATE LIMITED	Director	24-11-11	24-11-11	Active	NO
5	U45201RJ2011PTC037122	SAMARTH INFRAHEIGHTS PRIVATE LIMITED	Director	24-11-11	24-11-11	Active	NO

Name :	Mr. Anil Kumar Agarwal
Designation :	Director
Address :	A – 14, Matel Colony, Amba Bari, Jaipur - 302023, Rajasthan, India
Date of Birth/Age :	08.12.1962
Date of Appointment :	29.03.2008
DIN No.:	01268008

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	U29130RJ1998PTC015148	SUPERSONIC TURNERS PRIVATE LIMITED	Director	29-09-98	29-09-98	-	Active	NO
2	U29130RJ2002PTC017803	PUSHP FORGINGS PRIVATE LIMITED	Director	16-11-02	16-11-02	31-03-10	Active	NO
3	U26493RJ2000PLC022268	MRK PIPES LIMITED	Director	30-09-08	29-03-08	-	Active	NO
4	U74140RJ1978PLC001779	RAJASTHAN CONSULTANCY ORGANISATION LTD	Nominee director	26-08-09	26-08-09	-	Active	NO
5	U14109RJ2010PTC031321	Dazzling Minerals Private Limited	Director	23-03-10	23-03-10	12-05-10	Active	NO
6	U28933RJ2010PTC032113	Supersonic Automotives Private Limited	Director	14-06-10	14-06-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajeev Kumar Jain
Designation :	Secretary
Address :	301, Sammaradhi Aptt, 48, Krishi Vihar Colony, Indore – 452001, Madhya Pradesh, India
Date of Birth/Age :	25.07.1972
Date of Appointment :	15.06.2010

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Manisha Kalani	725010
Kalani Industries Private Limited	211940
Sunrise Properties Private Limited	130000
Vibgyor laminates Private Limited	350000
Triple A Constructions Private Limited	361000
Four Dimension Pro. P. Limited	361000
Saka Tradings P. Limited	361000
Pawan Kumar Jain	10
C. Khushaldas	10
Q.Y. Matkawala	10
Rajive Sanghi	10
Sunil Kumar	10
Rakesh Akar	270000
Amita Akar	5000
Dinesh Akar	40000
Ram Chandra Akar	40000
Shanti Devi Akar	20000
Sarojani Akar	54000
Kapil Parasrampuria	70000
Vishal Parasrampuria	50000
Vikas Parasrampuria	50000

As on 15.10.2011

Names of Allottees	No. of Shares
Kalani Industries Private Limited, India	6490000
Rakesh Akar, Business	1000000
Dinesh Parasrampuria, Business	1000000
Safal Investment Limited, India	3490000
Vishesh Plastics Private Limited, India	1000000
TOTAL	12980000

(AS ON 30.09.2011)

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	70.20
Directors or relatives of directors	29.40
Other top fifty shareholders	0.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Asbestos Cement Sheet and Asbestos Pressure Pipes.
Products :	Asbestos cement sheet Asbestos Pressure Pipes

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• State Bank Of India, Paramsidhi Complex, Mid Corporate Branch, Ellis Bridge, Ahmedabad - 380006, Gujarat, India
• State Bank Of Mysore Tambi Tower, Sansar Chandra Road, Jaipur - 302001, Rajasthan, India

Facilities :

Secured Loans	As on 31.03.2011 Rs. in Millions	As on 31.03.2010 Rs. in Millions
Term loans banks	343.105	89.974
Working capital loans	310.577	288.937
Loans taken for fixed assets	6.093	5.822
Other debt	35.414	14.424
Total	695.189	399.157
NOTES: a. Hypothecation of Stock, Book Debts and Stores and Spares secure working capital loans from Consortium Banks. These are future secured by equitable mortgage of Land and Building and Plant and machinery situated at Kaladera (Jaipur) and Rewari (Haryana). b. Term Loan from SBI and SBM was taken for purchase of specified Plant and Machinery, Land and Buildings and misc. assets against which the loans were taken and are further secured by equitable mortgage of Land and Buildings and Plant and Machinery situated at Village Sahibrampura, (Jaipur). c. Term loan for Bhuj Project is secured by extension of charge over the fixed assets of kaladera and Rewari unit and equitable mortgage of land and building and all fixed assets, both present and future, of the Bhuj Project. The same has also been financed by SBI and SBM, which has been taken over by the present bankers from Uco Bank and Indian Overseas bank. d. Vehicle loans have been availed on the security of hypothecation of vehicle in favor of the financial institute. e. Housing loan is secured by equitable mortgage of houses on which the loan availed.
Unsecured Loans	As on 31.03.2011 Rs. in Millions	As on 31.03.2010 Rs. in Millions
Debentures	10.000	10.000
Rupee term loans	80.483	31.547
Total	90.483	41.547

Banking Relations :	--
Auditors :
Name :	R K Akar and Company Chartered Accountants
Address :	1409 Sangho Ka Rasta, Kishanpole Bajar, Jaipur -302003, Rajasthan, India
Tel. No.:	91-141-2311911/2322911
PAN NO.:	AAEFR5990P
Associates/Subsidiaries :	Garima Overseas Limited Shri Ganpati Asbestos Private Limited Agam Cement Products Private Limited Kalani Industries Limited Shanti Kripa Industries Parasrampuria Rubber Private Limited R K Polytex Private Limited Akansha Rubber Ind. Ayush Rubber Indu. Shiv Shakti Indu. Corp.

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
5800000	Equity Shares	Rs.10/- each	Rs. 58.000 Millions
1500000	Preference Shares	Rs.10/- each	Rs. 15.000 Millions
7300000	Total		Rs. 73.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

After 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
19300000	Equity Shares	Rs.10/- each	Rs. 193.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17980000	Equity Shares	Rs.10/- each	Rs. 179.800 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		50.000	50.000	50.000
2] Share Application Money		190.135	102.565	108.625
3] Reserves & Surplus		21.859	75.296	73.764
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		261.994	227.861	232.389
LOAN FUNDS
1] Secured Loans		695.189	399.157	327.798
2] Unsecured Loans		90.483	41.547	46.020
TOTAL BORROWING		785.672	440.704	373.818
DEFERRED TAX LIABILITIES		23.963	23.963	22.620
TOTAL		1071.629	692.528	628.827
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		581.001	302.572	284.832
Capital work-in-progress		1.562	42.802	3.544
INVESTMENT		0.590	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	158.333	162.246	250.474
	Sundry Debtors	52.974	59.726	43.493
	Cash & Bank Balances	55.590	29.868	32.782
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	298.078	130.827	39.591
Total Current Assets		564.975	382.667	366.340
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	46.834	32.832	9.520
	Other Current Liabilities	26.370	14.940	18.030
	Provisions	4.248	5.161	1.534
Total Current Liabilities		77.452	52.933	29.084
Net Current Assets		487.523	329.734	337.256
MISCELLANEOUS EXPENSES		0.953	17.420	3.195
TOTAL		1071.629	692.528	628.827

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	492.785	685.953	611.721
		Other Income	20.676	3.563	1.892
		TOTAL (A)	513.461	689.516	613.613
Less	EXPENSES
		Consumption materials changes inventories	355.684	503.588
		Manufacturing service costs	55.508	53.963	539.353
		Employee related expenses	14.134	10.999
		Administrative selling other expenses	50.569	65.035
		TOTAL (B)	475.895	633.585	539.353
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		37.566	55.931	74.260
Less	FINANCIAL EXPENSES (D)		67.721	34.002	47.034
	PROFIT / LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(30.155)	21.929	27.226
Less/ Add	DEPRECIATION/ AMORTISATION (F)		23.283	18.545	18.100
	PROFIT / LOSS BEFORE TAX (E-F) (G)		(53.438)	3.384	9.126
Less	TAX (H)		0.000	1.852	4.335
	PROFIT / LOSS AFTER TAX (G-H) (I)		(53.438)	1.532	4.791
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		27.252	25.720	20.929
	BALANCE / LOSS CARRIED TO THE B/S		(26.186)	27.252	25.720
	IMPORTS
		Raw Materials	101.403	165.024	170.678
		Capital Goods	11.396	0.000	0.000
	TOTAL IMPORTS		112.799	165.024	170.678
	Earnings / loss Per Share (Rs.)		(10.69)	0.31	0.96

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(10.41)	0.22	0.78
Net Profit Margin (PBT/Sales)	(%)	(10.84)	0.49	1.49
Return on Total Assets (PBT/Total Assets}	(%)	(4.66)	0.49	1.40
Return on Investment (ROI) (PBT/Networth)		(0.20)	0.01	0.04
Debt Equity Ratio (Total Liability/Networth)		3.39	2.27	1.83
Current Ratio (Current Asset/Current Liability)		1.16	1.16	1.09

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	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	No
Capital in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-------------
Litigations that the firm/ Promoters Involved in	------------
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	------------
Buyer visit details	-------------
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

REVIEW OF OPERATIONS

The year, remain an unfavourable, as the performance of pipe division remained unprofitable. No fresh tenders have been awarded by Haryana and Rajasthan Government. Therefore the sales of the Company has also been declined. During the year under review, the Company has started production at Sahibrampura Sheet plant. In the current year, the company incurred net loss of Rs. 53.438 Millions.

The management, considering the demand potentiality of the Company’s products, is hopeful to do better in future.

FORM 8

Corporate identity number of the company	U26493RJ2000PLC022268
Name of the company	MRK PIPES LIMITED
Address of the registered office or of the principal place of business in India of the company	Parasrampuria Chambers, Opp Road No. 1, VKI Area, Jaipur – 302013, Rajasthan, India
This form is for	Modification of charge
Charge identification number of the modified	10238964
Type of charge	Immovable Property
Particular of charge holder	State Bank Of India, Paramsidhi Complex, Mid Corporate Branch, Ellis Bridge, Ahmedabad - 380006, Gujarat, India Email: suresh.pareek@sbi.com
Nature of description of the instrument creating or modifying the charge	Memorandum relating to deposit of title deeds for creation of charges for overall limit DTD 05 Dec 2011
Date of instrument Creating the charge	05.12.2011
Amount secured by the charge	Rs. 68.800 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per existing terms and conditions Terms of Repayment As per existing terms and conditions Margin As per existing terms and conditions Extent and Operation of the charge As per existing terms and conditions
Short particulars of the property charged	Equitable mortgage of industrial land measuring 11500 sq meters situated at Khasra no 7 to 14 at village Sahibrampura, via, Kaladera, Distt Jaipur (Rajasthan) created by way of deposit of title deeds
Date of latest modification prior to the present modification	18.10.2010
Particulars of the present modification	Title deeds of industrial land situated at Khasra no 7 to 14 at village Sahibrampura, via, Kaladera, Distt Jaipur Rajasthan, admeasuring 11500 sq mtrs depsoited with bank to secure the limits

FIXED ASSETS:

• Freehold Land
• Lease hold Land
• Factory Building
• Plant and Machinery
• Misc. Fixed Assets
• Electrical Installation
• Vehicles
• Furniture and Fixture
• Computers
• Office Equipments
• Residential Building
• Office Building

CONTIGENT LIABILITIES NOT PROVED FOR:

Guarantees (Net of margin money deposits) given by the banks on behalf of the Company as on 31.03.2011 are Rs. 19.369 Millions (Previous year: Rs.15.742 Millions)

LC (Net of Margin money deposits) given by the banks were outstanding as on 31.03.2011 was of Rs 9.775 Millions. (Previous year: Rs. 49.800 Millions.)

AS PER WEBSITE DETAILS

PROFILE

The Company was incorporated in the year 2000 to carry business of A.C.Pressure Pipes and fittings. The company has very strong and valuable support from their promoter directors who have ample of experience in the field of manufacturing of A.C.Pressure pipes and its fittings. They are also having very rich experience in the field of its supporting items i.e. Rubber rings and CID Joints from last so many years.

BOARD OF DIRECTORS OF THE COMPANY

The Company is limited Company, promoted and managed by Mr.Rakesh Akar and Mr.Dinesh Parasrampuria, Mr. Manish Kalani. The other Board of Directors of the Company includes :

Mr.V.P.Sarmandal, Mr.S.K.Talati, Mr.J.C.Yadav and Mr.V.K.Gupta

They have built up strong background in manufacturing of A.C. Pressure Pipes and fittings over 20 years of professional knowledge and state of art in production of various sizes and class as per BIS standards. They are proud that they have produced multiple sizes of pipes to fully useful to the various water projects. They provide full range of services. They appreciate the supports from their satisfied valued customers. They will continue to do their utmost by innovating more in quality and supplying with the best quality and rendering their best service to all of their customers. They believe this is the best way to keep all of us moving forward to face the challenging business world of today and the future!

MANUFRACTURING PROCESS

The Asbestos cement pressure pipes are manufactured by the lamination process i.e. Manufacture of pipes layer by layer. The various stages in the manufacture of A.C. Pressure pipes are as under :

I) Slurry Preparation Section : The fiber is  opened in collar gang by milling it in the water media and is opened in further in the hydro disintegrator. Cement is    added in the vertical mixer for preparing a homogeneous slurry of cement    and   filbert is fed on to the forming machine by the slurry distribution cum    feeding   tank with a centrifugal pump.

II) Pipe forming Section : The pipe is formed layer by layer on a mandrel under  vacuum. The pipe is compressed under hydraulic pressure to attain the final diameter and density. The pipe is extracted from the mandrel.  They are kept on the rolling platform in the drying shed for 12 to 16 hours.

III) Pipe finishing Section : The pipes are submerged under water for curing in   the curing tanks. After curing the pipes are cut to the required, turned to attain the required diameter and chamfered for easy joining on a special designed lath machine. The pipes are hydraulically tested to the required pressure. Pipes are loaded on to the truck with an EOT crane.

THEIR ASSOCIATES:

Shri. Ram Laghu Udyog, India

Producer: CI Joint, CI Special, CI Casting

Parasrampuria Foundry, India

Producer: CI Joint, CI Special, CI Casting

Shiv Shakti Industrial Corporation, India

Producer: CI Joint, CI Special, CI Casting

Dangayach Packagings, India

Producer: CI Joint, CI Special, CI Casting

Shri Shyam Industries, India

Producer: CI Joint, CI Special, CI Casting

Akansha Rubber Industries, India

Producer: Rubber Rings and other rubber products

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. 56.99
UK Pound	1	Rs. 88.97
Euro	1	Rs. 71.57

INFORMATION DETAILS

Report Prepared by :

ACH

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	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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.