MIRA INFORM REPORT

Report Date :

07.03.2012

IDENTIFICATION DETAILS

Name :	LUNAR EXPORTS PRIVATE LIMITED
Registered Office :	No. VII / 608, Matha Shopping Arcade, Thoduzha, P.O Idukki-685584, Kerala
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.10.2003
Com. Reg. No.:	16551
Capital Investment / Paid-up Capital :	Rs.8.450 Millions
CIN No.: [Company Identification No.]	U51312KL2003PTC016551
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Footwear.
No. of Employees :	Not Available

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 170000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are ported as fair. Business is active. Payments are reported to be usually 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 :	No. VII / 608, Matha Shopping Arcade, Thoduzha, P.O Idukki-685584, Kerala, India
Tel. No.:	91-4862-222879/222474
Fax No.:	91-4862-223540
E-Mail :	lunars@satyam.net.com lunars@sify.com lunarexports@sify.com
Website :	www.lunars.com
Administrative Office / Factory:	No. 70 Y, Hootgalli Industrial Area, Belwadi Post, Mysore-570018, Karnataka, India
Tel. No.:	91-821-4282147 / 4282072
Fax No.:	91-821-4282147 / 4282072

DIRECTORS

As on 29.09.2011

Name :

Mr. Bastain Joseph Kottukappilly

Designation :

Managing Director

Address :

Building No. 1744, 7^th Main Vijayanagar Industrial Estate, Hinkal PO Mysore – 570018, Karnataka, India

Date of Birth/Age :

29.05.1966

Date of Appointment :

17.10.2003

Din No.:

00386619

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51312KL2003PTC016551	LUNAR EXPORTS PRIVATE LIMITED	Managing director	17-10-03	17-10-03	Active	NO
2	U19200KA2009PTC050301	FOOTTECH POLYMERS (INDIA) PRIVATE LIMITED	Director	02-07-09	02-07-09	Active	NO
3	U24134KL2009PTC025046	FOOTMATE POLYMER FOOTWEARS INDIA PRIVATE LIMITED	Director	29-09-10	07-12-09	Active	NO

Name :

Mr. Isac Joseph Kottukappilly

Designation :

Director

Address :

Kottujppilly Mrala P.O. Thodupuzha, Idukki – 685587, Kerala, India

Date of Birth/Age :

02.06.1946

Date of Appointment :

17.10.2003

Din No.:

00415165

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U25199KL1993PTC006904	LUNAR RUBBERS PRIVATE LIMITED	Managing director	07-01-93	07-01-93	-	Active	NO
2	U19202KL1995PTC008900	NEO RUBBER FOOTCRAFTS PRIVATE LIMITED	Director	10-04-95	10-04-95	24-06-08	Active	NO
3	U25000KA1995PTC019408	UTTAM RUBBERS PRIVATE LIMITED	Director	15-12-95	15-12-95	11-08-08	Active	NO
4	U55102KL1996PTC010704	GREEN BERG HOLIDAY RESORTS PRIVATE LIMITED	Director	03-09-96	03-09-96	-	Active	NO
5	U72200KL2000PLC013635	ICON INTEGRATED INDUSTRIES AND SOFTWARE LIMITED	Director	13-11-09	27-01-00	-	Active	NO
6	U72200KL2000PLC014239	IPSR SOLUTIONS LIMITED	Director	05-10-00	05-10-00	-	Active	NO
7	U92132KL1999PLC012836	JEEVAN TELECASTING CORPORATION LIMITED	Director	28-08-01	28-08-01	-	Active	NO
8	U51312KL2003PTC016551	LUNAR EXPORTS PRIVATE LIMITED	Director	17-10-03	17-10-03	-	Active	NO
9	U92132KL2004PLC017117	JEEVAN SATELLITE COMMUNICATIONS LIMITED	Director	14-05-04	14-05-04	21-10-08	Active	NO
10	U92132KL2005PTC018299	TELEJEEVAN COMMUNICATIONS AND SERVICES PRIVATE LIMITED	Director	15-06-05	15-06-05	21-10-08	Active	NO
11	U25209KL2005PTC018633	POLYMER KERALA PRIVATE LIMITED	Director	08-09-05	08-09-05	-	Active	NO
12	U92132KL2006NPL019942	DIVINE TELEVISION FOUNDATION	Director	27-10-06	27-10-06	29-05-09	Active	NO

Name :

Mr. Kuncheria Joseph

Designation :

Director

Address :

Kottujppilly Mrala P.O. Thodupuzha, Idukki – 685587, Kerala, India

Date of Birth/Age :

29.10.1950

Date of Appointment :

17.10.2003

Din No.:

00415178

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51312KL2003PTC016551	LUNAR EXPORTS PRIVATE LIMITED	Director	17-10-03	17-10-03	Active	NO
2	U55102KL1996PTC010704	GREEN BERG HOLIDAY RESORTS PRIVATE LIMITED	Director	12-11-03	12-11-03	Active	NO
3	U25209KL2005PTC018633	POLYMER KERALA PRIVATE LIMITED	Director	08-09-05	08-09-05	Active	NO

Name :

Mr. Johnson Joseph

Designation :

Director

Address :

House No. 2706, III Cross, 17^th Main, Vijayanagar, 2^nd Stage, Mysore, Karnataka, India

Date of Birth/Age :

04.01.1961

Date of Appointment :

02.04.2004

Din No.:

00398012

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U25000KA1995PTC019408	UTTAM RUBBERS PRIVATE LIMITED	Managing director	01-03-04	01-03-04	Active	NO
2	U51312KL2003PTC016551	LUNAR EXPORTS PRIVATE LIMITED	Director	02-04-04	02-04-04	Active	NO
3	U24134KL2009PTC025046	FOOTMATE POLYMER FOOTWEARS INDIA PRIVATE LIMITED	Director	29-09-10	07-12-09	Active	NO

Name :

Mr. Kurian Kuruvilla Pazhedathu

Designation :

Director

Address :

Pazhayidathu House Ancheri PO Thodupuzha, Idukki, Kerala, India

Date of Birth/Age :

17.11.1940

Date of Appointment :

02.04.2004

Din No.:

00415264

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U19202KL1976PTC002764	VIKING RUBBERS PRIVATE LIMITED	Director	20-02-76	20-02-76	Active	NO
2	U55102KL1996PTC010704	GREEN BERG HOLIDAY RESORTS PRIVATE LIMITED	Director	22-10-99	22-10-99	Active	NO
3	U51312KL2003PTC016551	LUNAR EXPORTS PRIVATE LIMITED	Director	02-04-04	02-04-04	Active	NO
4	U25209KL2005PTC018633	POLYMER KERALA PRIVATE LIMITED	Director	08-09-05	08-09-05	Active	NO
5	U72200KL2000PLC014239	IPSR SOLUTIONS LIMITED	Director	15-12-05	15-12-05	Active	NO
6	U19200KA2009PTC050301	FOOTTECH POLYMERS (INDIA) PRIVATE LIMITED	Director	02-07-09	02-07-09	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Isac Joseph Kottukappilly	330
Kuncheria Joseph Kottukappilly	210
Bastain Joseph Kottukappilly	1675
Johnson Joseph Kottukappilly	370
Kurian Kuruvills Pazhedathu	325
Kuncheria Ottakudasseril	400
Kuriakose Nadakkal	285
Joseph Puthumana	400
Joseph Oommen Thuruthumall	150
Marykutty Isac Kottukappilly	180
Juby Isac Kottukappilly	215
Dilip Kuncheria Kottukappilly	150
Reethamma Kuncheria Kottukappilly	40
Benny Joseph Kottukappilly	290
James Jacob Panachikkal	300

As on 29.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Footwear.

Products :

ITC Code No.	Product Description
6402	Footwear

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• The Catholic Syrian Bank Limited, Silver Tower, Opposite Clock Tower, Ashok Road, Mysore-570001, Karnataka, India
• The South Indian Bank Limited, No. 50/51, D. Devaraja URS Road, Mysore-570001, Karnataka, India
• ICICI Bank Limited

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Term loan from The South Indian Bank Limited	3.692	6.732
Cash credit from The South Indian Bank Limited	12.407	11.441
Vehicle loan from Catholic Syrian Bank Limited	0.082	0.191
Vehicle loan from Kodak Mahindra Prime Limited	0.377	0.000
HDFC Bank Limited vehicle loan	2.170	1.957
Vehicle loan from Cholamandalam DBS Finance Limited	0.638	1.329
Total	19.366	21.650
Unsecured Loan
Bastain Joseph Kottukappilly	0.357	1.138
Rini Bastrian	0.204	0.193
Total	0.561	1.331

NOTE:

1. Term loan from The South Indian Bank Limited is secured by mortgage of factory land and building, plant and machinery situated at Hootgalli, Mysore and personal guarantee of directors.

2. Cash credit from The South Indian Bank Limited is secured against hypothecation of stocks, stores, book debts, machineries and persona guarantee of directors.

3. Vehicle loan from HDFC Bank Limited, Catholic Syrian Bank Limited, ICICI Bank Limited, Cholamandalam DBS Finance Limited and Kotak Mahindra Prime Limited are secured against hypothecation of vehicles.

Banking Relations :	--
Auditors :
Name :	Raju and Nathan Chartered Accountant
Address :	3046, Gokuldham park Road, V.V. Mohalla, Mysore – 570002, Karnataka, India
Tel. No.:	91-821-4263314
E-Mail :	envee@bsnl.in
Pan No.:	AACPV7789E
Associates :	Lunar Rubbers Private Limited
Related Parties :	R.R. Enterprises Viking Rubbers (Private) Limited Polymer Kerala Private Limited RLB Enterprises Kovai Polymers Private Limited Uttam Rubbers Private Limited Cauvery Advertising Agency

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
9000	Equity Shares	Rs.1000/- each	Rs.9.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8450	Equity Shares	Rs.1000/- each	Rs.8.450 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		8.450	7.900	7.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		34.447	15.230	7.173
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		42.897	23.130	14.273
LOAN FUNDS
1] Secured Loans		19.366	21.650	25.529
2] Unsecured Loans		0.561	1.331	1.264
TOTAL BORROWING		19.927	22.981	26.793
DEFERRED TAX LIABILITIES		4.556	2.540	2.273
TOTAL		67.380	48.651	43.339
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		56.437	49.625	35.464
Capital work-in-progress		2.270	1.242	0.653
INVESTMENT		2.000	3.200	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	25.091	19.856	16.511
	Sundry Debtors	14.238	5.422	8.625
	Cash & Bank Balances	0.773	0.257	0.452
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	9.641	4.271	3.361
Total Current Assets		49.743	29.806	28.949
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	48.287	40.900	23.340
	Other Current Liabilities	5.436	3.541	2.121
	Provisions	5.296	1.522	0.604
Total Current Liabilities		59.019	45.963	26.065
Net Current Assets		(9.276)	(16.157)	2.884
MISCELLANEOUS EXPENSES		15.949	10.741	4.338
TOTAL		67.380	48.651	43.339

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	SALES	534.800	286.680	187.590
	PROFIT BEFORE TAX	26.572	9.855	5.308
Less	TAX	7.356	1.799	1.232
	PROFIT AFTER TAX	19.216	8.056	4.076
	Earnings Per Share (Rs.)	2274.08	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	4.97	3.44	2.83
Return on Total Assets (PBT/Total Assets}	(%)	25.03	12.41	8.24
Return on Investment (ROI) (PBT/Networth)		0.62	0.43	0.37
Debt Equity Ratio (Total Liability/Networth)		1.84	2.98	3.70
Current Ratio (Current Asset/Current Liability)		0.84	0.65	1.11

LOCAL AGENCY FURTHER INFORMATION

FORM 8:

This form is for	Creation of charge
Corporate identity number of the company	U51312KL2003PTC016551
Name of the company	LUNAR EXPORTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	No. VII / 608, Matha Shopping Arcade, Thoduzha, P.O Idukki – 685584, Kerala
Type of charge	Movable Property
Particular of charge holder	The Catholic Syrian Bank Limited, Silver Tower, Opp. Clock Tower, Ashok Road, Mysore – 570001, Karnataka, India
Nature of description of the instrument creating or modifying the charge	Registration Certificate of Vehicle Mahindra Bolero Pick Up BS II Vide Regn. No. KA 09 B 1169 issued by R T O, Mysore read with the Loan Sanction letter of the Bank.
Date of instrument Creating the charge	23.01.2009
Amount secured by the charge	Rs. 0.300 Million
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 14.25% Terms of Repayment Repayable in 36 EMI of Rs 10800 Each. With 1 % Penal Interest for Premuture Closure and Repayment to Commence from 19.02.2009 Margin 25% Extent and Operation of the charge The loan amount of Rs. 0.300 Million is fully secured on noting of the hypothecation of the vehicle by the R.T.O. Mysore in the Registration Certificate in favour of Catholic Syrian Bank Limited.
Short particulars of the property charged	Vehicle Mahindra Bolero Pick Up BS II Vide Regn. No. KA 09 B 1169 is hypothecated to the bank as security for loan of Rs. 0.300 Million. The vehicle is registered with the Registered Office address as the location.

FIXED ASSETS:

• Land
• Building
• Plant and Machinery
• Mobile
• Electrical Installation
• Computers
• Office Equipments
• Furniture and Fittings
• Vehicle

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.50.03
UK Pound	1	Rs.79.32
Euro	1	Rs.66.02

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--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.