MIRA INFORM REPORT

Report Date :

28.06.2012

IDENTIFICATION DETAILS

Name :	INDO-US MIM TEC PRIVATE LIMITED (w.e.f 21.08.2001)
Formerly Known As :	A F TECHNOLOGIES INDIA PRIVATE LIMITED
Registered Office :	Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.04.1996
Com. Reg. No.:	01-023794
Capital Investment / Paid-up Capital :	Rs.119.973 Millions
CIN No.: [Company Identification No.]	U28110AP1996PTC023794
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Metal Injection Moulding
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 3900000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track. General financial position is good. Trade relations are reported as fair. Business is active. Payments are reported to be correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	santosh.d@indo-mim.com bal.s@indo-mim.com
Website :	www.indo-mim.com
Factory 1/ Headquarters :	No 45,(P) KIADB Industrial Area, Hoskote, Bangalore 562 114, Karnataka, India
Tel. No.:	91-80-22048800/27971418/27971416
Fax No.:	91-80-27971624
E-Mail :	infohq@indo-mim.com
Factory 2 :	#45[P], KIADB Industrial Area, Doddaballapur, Bangalore 561 203, Karnataka, India
Tel. No.:	91-80-7630533/ 7630532
Fax No.:	91-80-27630532
E-Mail :	Infohq@indo-mim.com
International Office :	Located at: USA Europe

DIRECTORS

As on 30.09.2011

Name :

Mr. Krishna Chivukula

Designation :

Chairman

Address :

35, 1^st main 3^rd Cross RMV Extension, Bangalore – 560091, Karnataka, India

Date of Birth/Age :

27.01.1947

Date of Appointment :

12.04.1996

DIN No.:

01625119

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	U72200AP1994PTC018938	SHIVA CHEM TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	9/01/1995	9/01/1995	-	Active	YES
2	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	1/08/1995	1/08/1995	-	Active	NO
3	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	12/04/1996	12/04/1996	-	Active	NO
4	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	11/11/1998	11/11/1998	-	Active	NO
5	U67190KA2010PTC054105	JAGADA C INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO
6	U67190KA2010PTC054104	CHIVUKULA INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO

Name :

Ms. Chivukula Lalithadevi

Designation :

Director

Address :

213-539 A, No.7, Lane – 2, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India

Date of Birth/Age :

01.07.1924

Date of Appointment :

12.04.1996

DIN No.:

02368453

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	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	15/11/1994	15/11/1994	-	Active	NO
2	U72200AP1994PTC018938	SHIVA CHEM TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	12/12/1994	12/12/1994	-	Active	YES
3	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	12/04/1996	12/04/1996	-	Active	NO
4	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	11/11/1998	11/11/1998	-	Active	NO

Name :

Mr. Gaurav Swarup

Designation :

Director

Address :

2B, Juges Court Road, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

21.11.1956

Date of Appointment :

02.06.1999

DIN No.:

00374298

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	L25209UP1970PLC003320	SWADESHI POLYTEX LTD	Director	30/05/1988	30/05/1988	-	Active	NO
2	L65990MH1913PLC000374	INDUSTRIAL AND PRUDENTIAL INVESTMENT COMPANY LIMITED	Director	17/04/1990	17/04/1990	-	Active	NO
3	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LTD	Managing director	1/02/2012	14/07/1993	-	Active	NO
4	U74899DL1936PLC000564	PAHARPUR INDUSTRIES LIMITED	Director	26/10/1994	26/10/1994	-	Active	NO
5	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	1/01/1996	1/01/1996	27/10/2007	Active	NO
6	U25200MH1955NPL009601	THE PLASTICS EXPORT PROMOTION COUNCIL	Director	18/10/1996	18/10/1996	-	Active	NO
7	U24111DL1965PLC004507	CHEMICAL AND METALLURGICAL DESIGN COMPANY LIMITED	Director	13/04/1999	13/04/1999	-	Active	NO
8	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	2/06/1999	2/06/1999	-	Active	NO
9	L29120MH1960PLC011635	K S B PUMPS LIMITED	Director	24/01/2000	24/01/2000	-	Active	NO
10	L15421UP1932PLC025141	UPPER GANGES SUGAR AND INDUSTRIES LIMITED	Director	20/02/2003	20/02/2003	-	Active	NO
11	U67120WB1994PTC061897	HASTERA CREDIT PVT LTD	Director	21/03/2005	21/03/2005	-	Active	NO
12	L74999WB1974PLC041725	TIL LIMITED	Director	29/07/2008	26/03/2008	-	Active	NO
13	U00313DL2005PTC140903	FLOETER INDIA RETORT-POUCHES PRIVATE LIMITED	Director	30/09/2009	6/01/2009	-	Active	NO
14	U45200WB2004PTC150912	Paharpur-Pragnya Tech Park Private Limited	Director	30/04/2009	16/03/2009	-	Active	NO
15	U70109WB1996PTC078199	PAHARPUR PRAGNYA REALTY PRIVATE LIMITED	Director	25/09/2009	1/09/2009	-	Active	NO
16	U70200WB2010PTC141590	PAHARPUR ASANSOL PROPERTIES PRIVATE LIMITED	Director	1/02/2010	1/02/2010	15/06/2011	Active	NO
17	U74140WB2003PTC121076	MEDICA SYNERGIE PRIVATE LIMITED	Nominee director	25/06/2010	25/06/2010	-	Active	NO
18	U74899DL1981PTC011783	GARIMA PVT LTD	Director	24/05/2011	24/05/2011	-	Active	NO
19	U63090WB2011PTC165284	C.D. AVIATION (INDIA) PRIVATE LIMITED	Director	23/07/2011	23/07/2011	-	Active	NO

Name :

Mr. Krishna Chivukula Jr

Designation :

Director

Address :

1 Derby LN SE, Washinton DC USA 20032222

Date of Birth/Age :

31.03.1972

Date of Appointment :

30.09.2004

DIN No.:

02483835

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	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
2	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO
3	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO

Name :

Mr. Raj Roger Chivukula

Designation :

Director

Address :

381 Lodgewood Lane, Lafayette Co USA - 80026

Date of Birth/Age :

01.07.1974

Date of Appointment :

30.09.2004

DIN No.:

02484081

Name :

Mr. Chandrasekhar Jagadamba

Designation :

Director

Address :

8026, Summerview Jfayet Ville New York, USA - 13066

Date of Birth/Age :

12.09.1949

Date of Appointment :

30.09.2004

DIN No.:

01711450

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	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
2	U67190KA2010PTC054105	JAGADA C INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO
3	U67190KA2010PTC054104	CHIVUKULA INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	-	Active	NO

Name :

Mr. Pradip Panalal Shah

Designation :

Director

Address :

72 Embassy Apartments, 7^th Floor Napean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.09.1957

Date of Appointment :

27.10.2007

DIN No.:

00066242

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	U15419GJ1982PLC005071	SHAH FOODS LIMITED	Director	18/03/1982	18/03/1982	-	Active	NO
2	L31400GJ1972PLC002091	PANASONIC ENERGY INDIA COMPANY LIMITED	Director	5/05/1992	5/05/1992	-	Active	NO
3	U74120MH1994PTC082219	INDASIA FUND ADVISORS PRIVATE LIMITED	Director	20/10/1994	20/10/1994	-	Active	NO
4	L72200MH1994PLC082110	SONATA SOFTWARE LIMITED	Director	14/07/1998	14/07/1998	-	Active	NO
5	L24231MH1950PLC008311	PFIZER LIMITED	Director	7/12/1999	7/12/1999	-	Active	NO
6	L33112MH1943FLC003972	BASF INDIA LIMITED	Director	31/01/2000	31/01/2000	-	Active	NO
7	U99999MH1986PLC062170	WARTSILA INDIA LIMITED	Director	13/12/2000	13/12/2000	29/06/2010	Active	NO
8	L63030MH1950GOI008033	SHIPPING CORPORATION OF INDIA LIMITED	Director	24/01/2003	24/01/2003	29/01/2007	Active	NO
9	U65999MH2002PLC134884	ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED	Director	12/06/2003	12/06/2003	30/09/2011	Active	NO
10	L72200MH1978PLC020127	PATNI COMPUTER SYSTEMS LIMITED	Director	12/11/2003	12/11/2003	12/05/2011	Active	NO
11	U28993MH1932PLC001828	GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED	Director	10/08/2004	10/08/2004	-	Active	NO
12	L18101KA2004PLC033475	GOKALDAS EXPORTS LIMITED	Director	28/01/2005	28/01/2005	21/08/2007	Active	NO
13	L65990MH1990PLC056669	VAKRANGEE SOFTWARES LIMITED	Director	3/03/2006	3/03/2006	28/11/2008	Active	NO
14	L26593MH1950PLC008163	GRINDWELL NORTON LIMITED	Director	6/03/2006	6/03/2006	-	Active	NO
15	L24202MH1920PLC000825	KANSAI NEROLAC PAINTS LIMITED	Director	30/01/2007	30/01/2007	-	Active	NO
16	U85100MH1991PLC063096	WOCKHARDT HOSPITALS LIMITED	Director	11/06/2007	15/05/2007	8/05/2009	Active	NO
17	L99999MH1937PLC002726	MUKAND LIMITED	Director	29/07/2008	27/09/2007	-	Active	NO
18	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	29/09/2008	27/10/2007	-	Active	NO
19	L67200MH1937PLC002622	TATA INVESTMENT CORPORATION LIMITED	Director	8/07/2009	19/06/2008	-	Active	NO
20	L29120MH1960PLC011635	K S B PUMPS LIMITED	Director	7/04/2011	21/06/2008	-	Active	NO
21	U67190MH2008PTC181421	C3 ADVISORS PRIVATE LIMITED	Director	23/09/2009	24/11/2008	-	Active	NO
22	L85190MH1947PLC005963	WYETH LIMITED	Director	19/07/2011	31/03/2010	-	Active	NO
23	U74900MH2010PTC201683	Pangea EcoNetAssets Private Limited	Director	5/04/2010	5/04/2010	-	Active	NO
24	U17114MH2000PLC126018	REID & TAYLOR (INDIA) LIMITED	Additional director	30/07/2010	30/07/2010	-	Active	NO
25	U74990MH2010PTC206204	UNIVERSAL TRUSTEES PRIVATE LIMITED	Director	28/07/2011	16/02/2011	-	Active	NO
26	U63090WB2011PTC165284	C.D. AVIATION (INDIA) PRIVATE LIMITED	Director	23/07/2011	23/07/2011	-	Active	NO

Name :

Mr. John Anthony Dexheimer

Designation :

Director

Address :

61 Morningside Drive Westport, Connecticut 006880

Date of Birth/Age :

13.09.1954

Date of Appointment :

27.10.2007

DIN No.:

01917009

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	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	29/09/2008	27/10/2007	-	Active	NO

Name :

Mr. Parasuraman Balasubramanina

Designation :

Director

Address :

3DC 217, HRBR 3^rd Block Kalyan Nagar, Bangalore – 560043, Karnataka, India

Date of Birth/Age :

14.05.1963

Date of Appointment :

30.09.2010

DIN No.:

02829480

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	U45201AP1998PTC030483	GOWRI VENTURES PRIVATE LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO
2	U24230AP1994PLC018752	SHIVA ANALYTICALS (INDIA) LIMITED	Director	30/09/2010	2/11/2009	-	Active	NO
3	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2010	6/03/2010	-	Active	NO
4	U29253KA2011PTC060016	MINCO MALVERN PROCESS EQUIPMENT PRIVATE LIMITED	Director	17/08/2011	17/08/2011	-	Active	NO

Name :

Mrs. Sushila Rao

Designation :

Director

Address :

27, Indian Ridge Road, Newton MA Newton – 024593532, USA

Date of Birth/Age :

14.12.1947

Date of Appointment :

30.09.2011

DIN No.:

03405472

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	U72200AP1997PTC028107	CARE TECHNOLOGIES INDIA PRIVATE LIMITED	Director	7/10/1997	7/10/1997	-	Dormant	NO
2	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2011	6/06/2011	-	Active	NO

Name :

Mr. William Charles Mcco Rmick

Designation :

Director

Address :

24140 SW Peted Moun Tain Road, West Linn, Oregon, USA - 97068

Date of Birth/Age :

24.10.1933

Date of Appointment :

30.09.2011

DIN No.:

03296471

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	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	Director	30/09/2011	6/06/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Krishna Chivukula	280906
Green Meadows Investment, Mauritius	10893656
Anuradha Koduri	136475
Ajeet Khare	60000
Krishna Rao	40000
S Srinivasulu	32000
M Giriyappa	30000
TK Chattopadyay	50000
Manioj Kabre	20000
Ravi Kumar	2000
Phanindra Babu	5000
Pradip Analal Shah	10000
Gaurav Swarup	10000
John Anthony Dexheimer	35000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	91.00
Directors or relatives of Directors	4.00
Other top fifty shareholders	5.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Metal Injection Moulding

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ING Vysya Bank Limited, 22, Ground Floor, ING Vysya House, M.G Road, Bangalore – 560001, Karnataka, India

· Standard Chatered Bank, Raheja Towers, 26-27, MG Road, Bangalore – 560001, Karnataka, India

• State Bank of India, Overseas Finance Branch, St Marks Road, Bangalore, Karnataka, India
• IDBI Bank, K.H Road, Bangalore, Karnataka, India
• Bank of Baroda, Palace Orchards Branch, Bangalore, Karnataka, India
• Axis Bank, M.G Raod, Bangalore, Karnataka, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	496.910	117.565
Rupee term loans financial institutions secured	123.227	91.872
Foreign currency loans financial institutions secured	10.318	23.230
Working capital loans banks secured	286.797	147.107
Total	917.252	379.774

Banking Relations :	--
Auditors :
Name :	P Murali and Company Chartered Accountant
Address :	361, 1^st Floor, 13^th Main, RMV Extension, Bangalore - 560 080, Karnataka, India
Tel No.:	91-80-23613743
Fax No.:	9180-2366209
PAN.:	AADFP2033K
Group Companies :	Shiva Analyticals India Limited Gowri Ventures Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs. 10/- each	Rs. 200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11997257	Equity Shares	Rs.10/- each	Rs.119.973 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		119.973	119.423	119.423
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		871.388	481.297	340.780
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		991.361	600.720	460.203
LOAN FUNDS
1] Secured Loans		917.252	379.774	569.007
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		917.252	379.774	569.007
DEFERRED TAX LIABILITIES		92.348	78.435	76.658
TOTAL		2000.961	1058.929	1105.868
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1291.450	769.332	768.571
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	153.771	120.214	105.329
	Sundry Debtors	474.828	310.127	308.922
	Cash & Bank Balances	123.191	37.626	43.095
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	615.824	272.588	119.286
Total Current Assets		1367.614	740.555	576.632
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	364.399	131.806	127.360
	Other Current Liabilities	0.000	0.000	0.110
	Provisions	293.704	319.152	111.865
Total Current Liabilities		658.103	450.958	239.335
Net Current Assets		709511	289.597	337.297
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2000.961	1058.929	1105.868

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		1464.556	1279.436
		Other Income		1.897	4.059
		TOTAL (A)	2448.754	1466.453	1283.495
Less	EXPENSES
		Raw materials, consumables and others		365.501	434.436
		Personnel		189.479	186.596
		Excise duty		8.478	9.119
		Manufacturing and asset maintenance		81.044	127.965
		Administrative expenses		33.677	22.919
		Selling and distribution expenses		263.822	223.287
		(Increase)/Decrease in finished goods and WIP		(6.872)	(3.216)
		TOTAL (B)	1639.811	935.129	1001.106
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		808.943	531.324	282.389
Less	FINANCIAL EXPENSES (D)		88.842	55.468	96.436
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		720.101	475.856	185.953
Less/ Add	DEPRECIATION/ AMORTISATION (F)		123.974	80.116	71.223
	PROFIT BEFORE TAX (E-F) (G)		596.127	395.740	114.730
Less	TAX (I)		206.476	143.816	43.520
	PROFIT AFTER TAX (G-I) (J)		389.651	251.924	71.210
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		475.839	335.321	319.998
Less	APPROPRIATIONS
		Proposed Dividend	NA	95.538	47.769
		Corporate Dividend Tax Thereon	NA	15.868	8.118
	BALANCE CARRIED TO THE B/S		NA	475.839	335.321
	Earnings Per Share (Rs.)		32.50	20.63	5.97

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	15.91	17.18	5.55
Net Profit Margin (PBT/Sales)	(%)	NA	27.02	8.97
Return on Total Assets (PBT/Total Assets}	(%)	43.49	53.44	19.90
Return on Investment (ROI) (PBT/Networth)		0.60	0.66	0.25
Debt Equity Ratio (Total Liability/Networth)		1.59	1.38	1.76
Current Ratio (Current Asset/Current Liability)		2.08	1.64	2.41

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	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	--
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

CAPITAL STRUCTURE

The Authorised Share Capital of the Company is Rs.200.000 Millions. The Issued, Subscribed and paid up share capital of the company as at the end of the year stands at Rs.119.972 Millions.

OPERATIONS

The Gross sales and other income for the financial year were Rs.2450.000 Millions as against Rs 1470.000 Millions for the previous year, registering an impressive jump of nearly Rs.1000.000 Millions (67%) Jump in the turnover. This was a phenomenal achievement by any standards, and they stand as the World Number 1 in terms of Sales and Capacity in the MIM Industry. Profit before tax rose from Rs.390.000 Millions in 2009-10 to Rs.600.000 Millions in 2010-11, registering an impressive jump of 54% Year on Year.

OUTLOOK

The Indian economy has recovered swiftly from the slowdown resulting from the financial crisis of 2008-09. The GDP growth rate was 8.5% in 2010-11 compared to 8% in 2009-10. The growth, however, was accompanied by persistently high inflation of more than 8% throughout the year. Looking ahead, the log term outlook is one of growing demand, particularly in Asia, and of challenges for the industry in meeting this demand. The Company has already completed the major part of its Expansion plans at its Doddaballapur Unit and is catering to the increased demands, which is already reflecting in the financials for the current running year 2011-12.

CONTINGENT LIABILITIES:

The company has obtained a Bank guarantees /LCs from Banks against sufficient margin .The total value of the pending commitments on the said guarantees/lCs is Rs. 133.483 Millions (Previous year–Rs. 2.439 Millions)

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U28110AP1996PTC023794
Name of the company	INDO-US MIM TEC PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India Email: santosh.d@indo-mim.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Standard Chatered Bank, Raheja Towers, 26-27, MG Road, Bangalore – 560001, Karnataka, India Email: shekar.subramanyarajeurs@sc.com
Nature of instrument creating charge	Unattested Memorandum of Hypothecation Dated 01.02.2012 for Pari Passu First Charge on All Fixed Assets of the company and Pari Passu Second Charge on All Current Assets of the Company.
Date of instrument Creating the charge	01.02.2012
Amount secured by the charge	Rs.371.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest At the rate as negotiated and agreed with the Bank Terms of Repayment Maximum up to 60 months Margin NA Extent and Operation of the charge The External Commercial Borrowing (ECB) of USD 7 million is secured by: 1. First Pari Passu Charge on All Fixed Assets of the Company 2. Second Pari Passu Charge on All Current Assets of the Company
Short particulars of the property or asset(s) charged (including complete address and location of the property)	a) First Pari Passu Charge on All Fixed Assets of the Company and b) Second Pari Passu Charge on All Current Assets of the Company

Fixed Assets:

• Land and development
• Buildings
• Plant and machinery
• Furniture and fixtures
• Office equipment
• Vehicles
• Computers and software
• Electrical installation

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.57.21
UK Pound	1	Rs.89.42
Euro	1	Rs.71.46

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.