MIRA INFORM REPORT

Report Date :

29.03.2012

IDENTIFICATION DETAILS

Name :	ENERSYS ASTRA PRIVATE LIMITED
Formerly Known As :	SUGAN AUTOMATICS PRIVATE LIMITED
Registered Office :	Plot No.27, Rao and Raju Colony, 8-2-120/86/9/A27, Road No.2, Banjara Hills, Hyderabad – 500034, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.12.1993
Com. Reg. No.:	01-016707
Capital Investment / Paid-up Capital :	Rs.20.633 Millions
CIN No.: [Company Identification No.]	U29309AP1993PTC016707
TAN No.: [Tax Deduction & Collection Account No.]	HYDS04435E
PAN No.: [Permanent Account No.]	AACCS8264K
Legal Form :	Private Limited Liability Company
Line of Business :	Company is engaged in the business of Products Development mainly Catering to Telecom and Power Sector.
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 110000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. 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. As claims by Mr. Tinku Punjabi, Deputy General Manager (Finance), there is no business activity in the company for the year 2010-11. He further started that in the year 2010-11 only R and D activity were carried out in the company.

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

INFORMATION PARTED BY

Name :	Mr. Tinku Punjabi
Designation :	Deputy General Manager (Finance)
Date :	26.03.2012

LOCATIONS

Registered/ Corporate Office :	Plot No.27, Rao and Raju Colony, 8-2-120/86/9/A27, Road No.2, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India
Tel. No.:	91-40-44447777
Fax No.:	Not Available
E-Mail :	ventatesh.b@suganautomatics.com info@suganautomatics.com products@suganautomatics.com sales@suganautomatics.com sugann99@gmail.com
Website :	http://suganautomatics.com

DIRECTORS

(AS ON 29.07.2011)

Name :

Mr. Surendran Nagilla

Designation :

Managing Director

Address :

12-2-417/B/54, Jayanagar Colony Humayun Nagar, Hyderabad – 500028, Andhra Pradesh, India

Date of Birth/Age :

25.03.1957

Date of Appointment :

09.12.1993

DIN No.:

01709641

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	U29309AP1993PTC016707	ENERSYS ASTRA PRIVATE LIMITED	Managing director	6/6/2009	9/12/1993	Active	NO
2	U32303AP2012PTC079839	ENERSYS ASTRA TECH PRIVATE LIMITED	Director	19/03/2012	19/03/2012	Active	NO

Name :

Mr. Sasidhar Rayasam

Designation :

Whole-time Director

Address :

H. No.12-2-417/B/54 Jayanagar Colony, Gudimalapur, Hyderabad – 500028, Andhra Pradesh, India

Date of Birth/Age :

12.09.1978

Date of Appointment :

04.06.2009

DIN No.:

02383217

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	U29309AP1993PTC016707	ENERSYS ASTRA PRIVATE LIMITED	Whole-time director	29/09/2009	4/6/2009	Active	NO

Name :

Mr. Sridhar Komaragiri

Designation :

Whole-time Director

Address :

12-2-417/B/54, Gudimalapur, Hyderabad – 500028, Andhra Pradesh, India

Date of Birth/Age :

14.07.1971

Date of Appointment :

04.06.2009

DIN No.:

02389512

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	U29309AP1993PTC016707	ENERSYS ASTRA PRIVATE LIMITED	Whole-time director	29/09/2009	4/6/2009	Active	NO

Name :

Mr. Rajesh Satyanarayan Agrawal

Designation :

Director

Address :

103D Block, Tendset Valley View, Road No.6, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

30.10.1972

Date of Appointment :

06.06.2009

DIN No.:

00142010

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	U27109AP1985PLC005935	ABHISHEK TRANSTEL LIMITED	Director	6/12/1991	6/12/1991	25/02/2008	Active	NO
2	U27104AP1984PTC004517	GAUTAM ROLLING MILLS PRIVATE LIMITED	Director	30/08/2001	30/08/2001	25/02/2008	Active	NO
3	U72200AP2001PTC037217	i-VANTAGE APAC PRIVATE LIMITED	Director	14/03/2002	14/03/2002	-	Active	NO
4	U72200AP2001PTC037216	I-VANTAGE INDIA PRIVATE LIMITED	Director	14/03/2002	14/03/2002	-	Active	NO
5	L65910AP1992PLC014708	RICH `N' RICH FINANCE AND HOLDINGS LIMITED	Director	12/12/2002	12/12/2002	29/09/2006	Active	YES
6	U24299AP2002PTC039299	B.S. INTEGRATED STEEL PRODUCTS PRIVATE LIMITED	Director	27/03/2003	27/03/2003	-	Amalgamated	NO
7	U72900WB2004PTC098653	NKB E SOLUTIONS PRIVATE LIMITED	Director	7/7/2004	7/7/2004	15/03/2010	Active	NO
8	L27109AP2004PLC042375	BS TRANSCOMM LIMITED	Managing director	1/4/2008	1/9/2004	-	Active	NO
9	U72900WB2000PTC091231	GOPI VALLABH SOLUTIONS PRIVATE LIMITED	Director	1/12/2004	1/12/2004	31/03/2011	Active	NO
10	U70102AP2005PLC047023	SHIVAGANGA INFRASTRUCTURES LIMITED	Director	1/8/2005	1/8/2005	-	Active	NO
11	U70102AP2005PTC047234	NOVUS REAL ESTATES PRIVATE LIMITED	Director	25/08/2005	25/08/2005	-	Active	NO
12	U45200AP2006PTC049159	YOGRAJ REAL ESTATES PRIVATE LIMITED	Director	15/02/2006	15/02/2006	25/06/2009	Active	NO
13	U72300AP2006PTC051270	BIG INDIAN ERM SERVICES PRIVATE LIMITED	Director	27/09/2006	27/09/2006	16/04/2010	Active	NO
14	U10102AP2006PLC051730	REEMA LAXMI MINING and ENERGY LIMITED	Director	20/11/2006	20/11/2006	-	Active	NO
15	U55101AP2006PTC051700	FOUR BY FOUR HOTELS (INDIA) PRIVATE LIMITED	Director	25/12/2006	25/12/2006	19/04/2010	Strike off	NO
16	U70102AP2007PLC053575	CVK DEVELOPERS LIMITED	Director	13/04/2007	13/04/2007	25/06/2009	Active	NO
17	U74900AP2008PLC059595	BS INFRATEL LIMITED	Director	10/6/2008	10/6/2008	-	Active	NO
18	U93000AP2007NPL055534	YOUNG PRESIDENT'S ORGANISATION HYDERABAD CHAPTER	Director	17/12/2008	17/12/2008	-	Active	NO
19	U29309AP1993PTC016707	ENERSYS ASTRA PRIVATE LIMITED	Director	29/09/2009	6/6/2009	-	Active	NO
20	U72200AP2006PTC049254	HEAD INFOTECH INDIA PVT LTD	Director	30/09/2011	3/11/2010	-	Active	NO
21	U40108MH2009GOI220024	RAICHUR SHOLAPUR TRANSMISSION COMPANY LIMITED	Director	20/09/2011	7/1/2011	-	Active	NO
22	U64100DL2011PTC222846	INTEGRATED TELEINFRA PROVIDER PRIVATE LIMITED	Director	26/07/2011	26/07/2011	-	Active	NO
23	U40108AP2012PLC078644	EKO TECHNOLOGIES LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO
24	U32303AP2012PTC079839	ENERSYS ASTRA TECH PRIVATE LIMITED	Director	19/03/2012	19/03/2012	-	Active	NO

Name :

Mr. Rakesh Agrawal Satyanarayan

Designation :

Director

Address :

H. No.8-2-405/1 to 3, Road No.6, Banjara hills, Hyderabad – 500003, Andhra Pradesh, India

Date of Birth/Age :

20.05.1975

Date of Appointment :

06.06.2009

DIN No.:

01810818

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	U27200MH1982PTC027267	RAJESH STEEL INDUSTRIES PRIVATE LIMITED	Director	1/4/2001	1/4/2001	20/12/2007	Active	NO
2	U24299AP2002PTC039299	B.S. INTEGRATED STEEL PRODUCTS PRIVATE LIMITED	Director	25/02/2003	25/02/2003	-	Amalgamated	NO
3	L27109AP2004PLC042375	BS TRANSCOMM LIMITED	Managing director	1/4/2008	7/1/2004	-	Active	NO
4	U45200AP2006PTC049159	YOGRAJ REAL ESTATES PRIVATE LIMITED	Director	29/05/2006	29/05/2006	-	Active	NO
5	U10102AP2006PLC051730	REEMA LAXMI MINING AND ENERGY LIMITED	Director	20/11/2006	20/11/2006	-	Active	NO
6	U72200AP2001PTC037216	I-VANTAGE INDIA PRIVATE LIMITED	Director	30/09/2008	1/1/2008	-	Active	NO
7	U70102AP2005PLC047023	SHIVAGANGA INFRASTRUCTURES LIMITED	Director	30/09/2008	26/04/2008	-	Active	NO
8	U74900AP2008PLC059595	BS INFRATEL LIMITED	Director	10/6/2008	10/6/2008	-	Active	NO
9	U70102AP2007PLC053575	CVK DEVELOPERS LIMITED	Director	21/07/2009	9/2/2009	-	Active	NO
10	U29309AP1993PTC016707	ENERSYS ASTRA PRIVATE LIMITED	Director	29/09/2009	6/6/2009	-	Active	NO
11	U72200AP2006PTC049254	HEAD INFOTECH INDIA PRIVATE LIMITED	Director	15/09/2009	15/09/2009	3/11/2010	Active	NO
12	U40108MH2009GOI220024	RAICHUR SHOLAPUR TRANSMISSION COMPANY LIMITED	Director	20/09/2011	28/02/2011	-	Active	NO
13	U40108AP2012PLC078644	EKO TECHNOLOGIES LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO

Name :

Mr. Mukesh Satyanarayan Agrawal

Designation :

Director

Address :

Trendset Valley View, H. No.8-2-405/1 to 3, Flat No.301D, Road No.6, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

27.12.1977

Date of Appointment :

06.06.2009

DIN No.:

01914734

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	U24299AP2002PTC039299	B.S. INTEGRATED STEEL PRODUCTS PRIVATE LIMITED	Director	25/02/2003	25/02/2003	Amalgamated	NO
2	L27109AP2004PLC042375	BS TRANSCOMM LIMITED	Whole-time director	1/4/2008	27/01/2004	Active	NO
3	U10102AP2006PLC051730	REEMA LAXMI MINING AND ENERGY LIMITED	Director	20/11/2006	20/11/2006	Active	NO
4	U70102AP2007PLC053575	CVK DEVELOPERS LIMITED	Director	21/07/2009	9/2/2009	Active	NO
5	U74900AP2008PLC059595	BS INFRATEL LIMITED	Director	27/07/2009	27/03/2009	Active	NO
6	U29309AP1993PTC016707	ENERSYS ASTRA PRIVATE LIMITED	Director	29/09/2009	6/6/2009	Active	NO

Name :

Mr. Prem Kumar Bajaj

Designation :

Director

Address :

4-5-520, Badi Chawdi, Sultan Bazar, Hyderabad – 500195, Andhra Pradesh, India

Date of Birth/Age :

04.11.1961

Date of Appointment :

06.06.2009

DIN No.:

00114583

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	U67120AP1996PTC024861	P.K. BAJAJ SECURITIES PRIVATE LIMITED	Director	7/8/1996	7/8/1996	-	Active	NO
2	U67120AP1996PTC024860	KHANDELWAL SECURITIES PRIVATE LIMITED	Director	5/10/2005	5/10/2005	-	Active	NO
3	U72200AP2007FTC052445	STEELWEDGE TECHNOLOGIES PRIVATE LIMITED	Director	15/05/2008	15/05/2008	-	Active	NO
4	U72200AP2009PTC062615	VISUALBEAM SOFTWARE PRIVATE LIMITED	Director	27/01/2009	27/01/2009	-	Active	NO
5	U72900WB2000PTC091231	GOPI VALLABH SOLUTIONS PRIVATE LIMITED	Nominee director	25/03/2009	25/03/2009	31/03/2011	Active	NO
6	U29309AP1993PTC016707	ENERSYS ASTRA PRIVATE LIMITED	Director	29/09/2009	6/6/2009	-	Active	NO
7	U72200AP2006PTC049254	HEAD INFOTECH INDIA PVT LTD	Director	15/09/2009	15/09/2009	3/11/2010	Active	NO
8	U74140AP2004PTC044516	4P BUSINESS SERVICES PRIVATE LIMITED	Director	10/5/2010	10/5/2010	-	Active	NO
9	U24239AP2004PTC044249	REEVAX PHARMA PRIVATE LIMITED	Director	5/3/2011	5/3/2011	-	Active	NO
10	U24232AP2007PTC052336	HEALICA LIFE SCIENCES PRIVATE LIMITED	Director	18/06/2011	18/06/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Tinku Punjabi
Designation :	Deputy General Manager (Finance)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.07.2011)

Names of Shareholders	No. of Shares
Suguna S. Nagilla	61100
Surendran Nagilla	397987
Sridhar Komaragiri	237280
Sasidhar Rayasam	61900
BS Trans Comm Limited, India	1305033
Total	2063300

(AS ON 23.08.2011)

Equity Shares Break – up

Category	Percentage
Bodies corporate	63.25
Directors or relatives of directors	36.75
Total	100.00

BUSINESS DETAILS

Line of Business :

Design and Development of Embedded Products and Solutions.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee Term Loans Other Unsecured	74.177	12.785
Deposits Related Parties Unsecured	0.081	0.081
Total	74.258	12.866

Banking Relations :	--
Auditors :
Name :	Sharad and Associates Chartered Accountant
Address :	6-3-1099/1/6, I Floor Below Frontech Systems Katriya Hotel Lane Off. Raj Bhavan Road, Somajiguda Hyderabad – 500082, India
PAN No.:	AAGFS4405F

CAPITAL STRUCTURE

(AS ON 29.07.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Share	Rs.10/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2063300	Equity Share	Rs.10/- each	Rs.20.633 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		20.633	20.633	5.000
2] Share Application Money		0.000	0.000	2.650
3] Reserves & Surplus		7.453	7.330	1.147
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		28.086	27.963	8.797
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		74.258	12.866	0.081
TOTAL BORROWING		74.258	12.866	0.081
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		102.344	40.829	8.878
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		74.848	27.864	9.321
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.005	0.199	0.293
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	99.212	88.897	0.409
	Sundry Debtors	35.569	31.765	13.464
	Cash & Bank Balances	4.197	3.780	8.423
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.395	9.867	1.297
Total Current Assets		151.373	134.309	23.593
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	116.687	108.657	19.752
	Other Current Liabilities	6.210	10.603	4.288
	Provisions	0.985	2.283	0.289
Total Current Liabilities		123.882	121.543	24.329
Net Current Assets		27.491	12.766	(0.736)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		102.344	40.829	8.878

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	33.489	30.521
		Other Income	0.962	0.240
		TOTAL (A)	34.451	30.761
Less	EXPENSES
		Increase/(Decrease) in Stock	(51.723)	(0.409)
		Raw Materials Consumption	58.780	26.449
		Employees Remuneration and Benefits	7.128	2.681
		Other Expenses	14.519	1.227
		TOTAL (B)	28.704	29.948
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.747	0.813
Less	FINANCIAL EXPENSES (D)		0.197	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.550	0.813
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.849	0.395
	PROFIT BEFORE TAX (E-F) (G)		3.701	0.418
Less	TAX (H)		1.594	(0.164)
	PROFIT AFTER TAX (G-H) (I)		2.107	0.582
Less	Prior Period Expenses		0.133	0.183
Add	Prior Period Income		0.000	0.012
	BALANCE CARRIED TO THE B/S		1.974	0.411
	Earnings Per Share (Rs.)
	- Basic		1.19	1.29
	- Diluted		1.19	0.81

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	6.12	1.89
Net Profit Margin (PBT/Sales)	(%)	NA	11.05	1.37
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.28	1.27
Return on Investment (ROI) (PBT/Networth)		NA	0.13	0.05
Debt Equity Ratio (Total Liability/Networth)		7.05	4.81	2.77
Current Ratio (Current Asset/Current Liability)		1.22	0.21	0.97

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The Registered office of the company has been shifted from 12-2-4176/54, Jayanagar Colony, Gudimalkapur, Mehdipatnam Hyderabad, Andhra Pradesh, India, to the present address w.e.f. 01.01.2011.

FINANCIAL PERFORMANCE:

The Company has not commenced commercial operations.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Other Equipment

· Furniture and Fixture

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.92
UK Pound	1	Rs.81.21
Euro	1	Rs.67.85

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	2
--CREDIT LINES	1~10	2
--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		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.