MIRA INFORM REPORT

Report Date :

15.05.2012

IDENTIFICATION DETAILS

Name :	CAPARO ENGINEERING INDIA LIMITED (w. e. f. 10.10.2011)
Formerly Known as :	CAPARO ENGINEERING INDIA PRIVATE LIMITED
Registered Office :	101-104, 1^st Floor, Naurang House, 21, Kasturba Gandhi Marg, New Delhi - 110001
Country :	India
Financials (as on) :	31.12.2010
Date of Incorporation :	09.05.2000
Com. Reg. No.:	55-105609
Capital Investment / Paid-up Capital :	Rs.5509.308 Millions
CIN No.: [Company Identification No.]	U74101DL2000PLC105609
TIN No.:	09966301205 (Noida), 07190318576 (Delhi)
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject provides Sheet metal components and allied products, Metal fasteners, Metal tubes, Aluminum die casting components, Forged/machined steel components for automotive industries.
No. of Employees :	9000+ Employees in Caparo Group (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 17410000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a part of Caparo Group, Worldwide. It is an established company having moderate track. There appear huge accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. 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/ Factory :	101-104, 1^st Floor, Naurang House, 21, Kasturba Gandhi Marg, New Delhi – 110001, India
Tel No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@caparo.co.in caparo@satyam.net.in
Website :	http://www.caparo.co.in
Location :	Owned
Factory 1 :	Plot No. -7, Maruti JV Complex, Delhi –Gurgaon Road, Gurgaon – 122015, Haryana, India
Tel. No.:	91-124-4318000
Fax No.:	91-124-4318000
E-Mail :	info@caparo.co.in
Factory 2 :	Chopanki Industrial Area, Near Bhiwadi, Plot No. A-7, Bhiwadi – 301707, Rajasthan, India
Plant :	The Company has increased the number of manufacturing plants from five in 2006 to 18 as on December 31, 2009. The plants are located at various locations across India including Indore, Greater Noida (Uttar Pradesh), Chennai (Tamilnadu), Jamshedpur (Jharkhand), Halol (Gujarat), Pune (Maharashtra) and Dewas (Madhya Pradesh)
Marketing Queries :
E-Mail :	Corp.mktg@caparo.co.in
Normal Queries :
E-Mail :	info@caparo.co.in
Human Resource and Administration Queries :
E-Mail :	recruitment.hr@caparo.co.in

DIRECTORS

As on 29.06.2011

Name :

Mr. Rajesh Prasad

Designation :

Managing Director

Address :

E -155, Sarita Vihar, New Delhi – 110076, India

Date of Birth/Age :

22.07.1958

Date of Appointment :

02.08.2008

DIN No.:

02341590

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	U80221DL2006NPL149709	CAPARO EDUCATION FOUNDATION	Director	02-08-08	02-08-08	-	Active	NO
2	U45202DL1998PLC095074	CAPARO INDIA LIMITED	Director	11-08-08	02-08-08	-	Active	NO
3	U74101DL2000PLC105609	CAPARO ENGINEERING INDIA LIMITED	Managing director	03-11-10	02-08-08	-	Active	NO
4	U65910DL1994PLC057109	CAPARO FINANCIAL SOLUTIONS LIMITED	Managing director	01-04-09	01-12-08	-	Active	NO
5	U34200DL2007PLC161380	CAPARO VEHICLE PRODUCTS INDIA LIMITED	Director	30-09-09	26-06-09	-	Active	NO
6	U40108AP2009PLC065804	MYTRAH ENERGY (INDIA) LIMITED	Additional director	12-11-09	12-11-09	02-10-10	Active	NO
7	U40101DL2008PLC219872	CAPARO POWER LIMITED	Director	27-09-10	02-12-09	-	Active	NO
8	U45400DL2010PLC205058	CAPARO ENGINEERING AND CONSTRUCTION LIMITED	Director	29-06-11	01-07-10	-	Active	NO
9	U51397DL2010PTC206554	CAPARO MEDICAL PRODUCTS PRIVATE LIMITED	Director	29-06-11	02-08-10	-	Active	NO
10	U34300DL2007PTC158139	CAPARO MI STEEL PROCESSING PRIVATE LIMITED	Director	29-06-11	02-11-10	-	Active	NO
11	U74899DL1994PLC058269	CAPARO MARUTI LIMITED	Director	27-06-11	08-11-10	-	Active	NO
12	U74900DL2011FLC224177	CAPARO ASSOCIATES LIMITED	Director	25-08-11	25-08-11	-	Active	NO
13	U40300DL2011PLC224213	CAPARO POWER (BAWAL) LIMITED	Director	26-08-11	26-08-11	-	Active	NO
14	U27100DL2011FLC224185	CAPARO FASTENERS LIMITED	Director	26-08-11	26-08-11	-	Active	NO
15	U29253DL2011FLC224283	CAPARO FOUNDRY AND ENGINEERING LIMITED	Director	29-08-11	29-08-11	-	Active	NO
16	U74999DL2011FLC224279	CAPARO TUBES LIMITED	Director	29-08-11	29-08-11	-	Active	NO
17	U74900DL2011PTC228179	CAPARO FACILITY MANAGEMENT SERVICES PRIVATE LIMITED	Director	01-12-11	01-12-11	-	Active	NO
18	U17233DL2012PLC231570	CAPARO SPINKS WADE INTERNATIONAL LIMITED	Director	15-02-12	15-02-12	-	Active	NO

Name :

Mr. Manoj Kumar Sinha

Designation :

Additional Director

Address :

J-1/38, G.F., DLF City, Phase -2, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

20.12.1966

Date of Appointment :

03.11.2010

DIN No.:

03310902

Name :

Mr. Angad Paul

Designation :

Director

Address :

Penthhouse, Ambika House, 9a, Portland Place, London, W1b1PR, United Kingdom

Date of Birth/Age :

04.08.1970

Date of Appointment :

19.05.2000

DIN No.:

01475142

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	U74899DL1994PLC058269	CAPARO MARUTI LIMITED	Director	06-04-94	06-04-94	-	Active	NO
2	U74101DL2000PLC105609	CAPARO ENGINEERING INDIA LIMITED	Director	19-05-00	19-05-00	-	Active	NO
3	U80221DL2006NPL149709	CAPARO EDUCATION FOUNDATION	Director	14-06-06	14-06-06	-	Active	NO
4	U34300DL2007PTC158139	CAPARO MI STEEL PROCESSING PRIVATE LIMITED	Director	19-01-07	19-01-07	-	Active	NO
5	U34200DL2007PLC161380	CAPARO VEHICLE PRODUCTS INDIA LIMITED	Director	29-03-07	29-03-07	-	Active	NO
6	U45202DL1998PLC095074	CAPARO INDIA LIMITED	Director	30-06-07	02-05-07	-	Active	NO
7	U65910DL1994PLC057109	CAPARO FINANCIAL SOLUTIONS LIMITED	Director	22-08-09	01-12-08	-	Active	NO
8	U40108AP2009PLC065804	MYTRAH ENERGY (INDIA) LIMITED	Director	09-05-11	12-11-09	10-02-12	Active	NO
9	U45400DL2010PLC205058	CAPARO ENGINEERING AND CONSTRUCTION LIMITED	Director	29-06-11	01-07-10	-	Active	NO
10	U51397DL2010PTC206554	CAPARO MEDICAL PRODUCTS PRIVATE LIMITED	Director	29-06-11	02-11-10	-	Active	NO
11	U74900DL2011FLC224177	CAPARO ASSOCIATES LIMITED	Director	25-08-11	25-08-11	-	Active	NO
12	U40300DL2011PLC224213	CAPARO POWER (BAWAL) LIMITED	Director	26-08-11	26-08-11	-	Active	NO
13	U27100DL2011FLC224185	CAPARO FASTENERS LIMITED	Director	26-08-11	26-08-11	-	Active	NO
14	U29253DL2011FLC224283	CAPARO FOUNDRY AND ENGINEERING LIMITED	Director	29-08-11	29-08-11	-	Active	NO
15	U74999DL2011FLC224279	CAPARO TUBES LIMITED	Director	29-08-11	29-08-11	-	Active	NO
16	U17233DL2012PLC231570	CAPARO SPINKS WADE INTERNATIONAL LIMITED	Director	15-02-12	15-02-12	-	Active	NO

Name :

Mr. Suneel Kumar Khanna

Designation :

Additional Director

Address :

A-175, D. L. F. , Phasse – 3, Belvedere Park and Tower, VIII Nathupur, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

02.08.1957

Date of Appointment :

03.11.2010

DIN No.:

02936706

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	U74899DL1994PLC058269	CAPARO MARUTI LIMITED	Director	30-06-10	19-12-09	01-10-10	Active	NO
2	U40101DL2008PLC219872	CAPARO POWER LIMITED	Director	27-09-10	25-06-10	28-12-11	Active	NO
3	U34200DL2007PLC161380	CAPARO VEHICLE PRODUCTS INDIA LIMITED	Director	29-06-11	02-11-10	28-12-11	Active	NO
4	U74101DL2000PLC105609	CAPARO ENGINEERING INDIA LIMITED	Director	29-06-11	03-11-10	28-12-11	Active	NO
5	U51397DL2010PTC206554	CAPARO MEDICAL PRODUCTS PRIVATE LIMITED	Director	29-06-11	11-12-10	28-12-11	Active	NO
6	U17233DL2012PLC231570	CAPARO SPINKS WADE INTERNATIONAL LIMITED	Director	15-02-12	15-02-12	22-02-12	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjay Kumar Lalit
Designation :	Secretary
Address :	H – 475, H – Block, Palam Vihar, Gurgaon – 122017, Haryana, India
Date of Birth/Age :	09.09.1963
Date of Appointment :	03.11.2010
PAN No. :	AABPL5418L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.06.2011

Names of Shareholders	No. of Shares
Caparo India Private Limited, India	20
Caparo India Limited, UK	126229687
Blue Elephant Finance Limited, Mauritius	424701048
Total	550930755

Equity Share Break up (Percentage of Total Equity)

As on 29.06.2011

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	99.99
Bodies corporate	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject provides Sheet metal components and allied products, Metal fasteners, Metal tubes, Aluminum die casting components, Forged/machined steel components for automotive industries.

GENERAL INFORMATION

Customers :

• Eicher
• Honda
• Volvo
• General Motor
• Honda
• Ashok Leyland
• Nissan
• Ford
• Royal Enfield
• John Deere
• Force
• TSAL
• Goodrich
• Rane
• Subros
• TATA Johnson
• Swaraj Mazda
• Mahindra
• Piaggio

No. of Employees :

9000+ Employees in Caparo Group (Approximately)

Bankers :

· Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

· Central Bank of India, S. M. Road, Ahemdabad – 380015, Gujarat, India

· Canara Bank, Prime Corporate Branch, Spencer Tower I, Ground Floor, 770, Anna Salai, Chennai – 600002, Tamil Nadu, India

· State Bank of Indore, 115, Broadway, Chennai – 600108, TamilNadu, India

Facilities :

Secured Loan	As on 31.12.2010 (Rs. in Millions)	As on 31.12.2009 (Rs. in Millions)
Term Loans from Bank -
Rupee Loans	4270.548	3674.430
Foreign Currency Loans	147.860	380.569
Buyer Credit (Foreign Currency)	118.055	226.177
Cash Credit facility with Banks	1045.706	920.728
Lease finance from Bank	0.000	0.233
Total	5582.170	5202.137
Unsecured Loan	As on 31.12.2010 (Rs. in Millions)	As on 31.12.2009 (Rs. in Millions)
Short Term Loan From Body Corporates (Included Rs.100.000 Millions Interest free) Since Paid	329.500	150.000
Total	329.500	150.000

Banking Relations :	--
Auditors :
Name :	Lodha and Company Chartered Accountants
Address :	12, Bhagat Singh Marg, New Delhi – 110001, India
Tel. No.:	91-11-23710176/ 23710177/ 23364671/ 2414
Fax No.:	91-11-23345166/ 23314309
E-Mail :	delhi@lodhaco.com
PAN.:	AABFL1894Q
Holding Company :	Caparo India Limited UK
Subsidiaries Company :	Caparo MI Steel Processing Private Limited CIN No.: U34300DL2007PTC158139
	Caparo Vehicle Products India Private Limited CIN No.: U34200DL2007PTC161380
Parties where control exists :	Upto 11.01.2010 : (A) Caparo plc — Ultimate Holding Company (B) SubsIdiaries of Caparo plc: · Caparo Hotels Limited · Caparo Ventures Limited · A V Pictures Limited · Caparoespana SL (Spain) · Established and Sons Limited · Caparo Industries plc (UK). (C) Subsidiary øf Caparospana SI. (Spain):. · LIPE SA (Spain) (D) Subsidiaris of Caparo Industries plc (UK) :- · Caparo Engineering Limited Divsions :Clydesdale Jones and Company; and Clydesdale Forge · Caparo Steel Products Limited · Caparo Vehicle Product Limited · Caparo Merchant Bar Plc · Caparo Precision Tubes Limited · Caparo Precision Strip Limited · Material Measurements Limited · Armstrong Precision Components Limited · Caparo Aluminium Technologies Limited · Bridge Aluminium Limited · Zuo Bomet SA (Poland) · Systems Scaffolding Limited · Caparo AP Braking Limited · Caparo Atlas Fastening Limited · Caparo Vehicles Technologies United · Bull Moose Tube Company (USA) · Bull Moose Tube ULC (Canada) · Capero Vehicles Components Inc (USA) · Caparo Components Vehiculares (Mexico) · Fellow Subsidiaries : · Caparo India Private Limited (India) · Caparo Maruti Limited (India), (CML) · Caparo Modular Systems Limited (U. K.), (CMS) · Subsidiaries : · Caparo MI Steel Processing Private Limited (India) (CMISIL) (a joint venture) · Caparo Vehicles Products India Private Limited (India) Subsidiary of Caparo Vehicles Products India Private Limited : · Bawal Power Private Limited (India) Enterprise under Common Control : · Caparo Financial Solutions Limited (India)
	w. e. f. 11.01.2010 : (a) Zatalo Finance BVI Hold Co (Switzerland) – Ultimate Holding Company (b) Subsidiaries Qf Zatalo Finance BVI Hold Co (Switzerland): · White Tiger Finance Limited (Maunitius) Blue Elephant Finance tirnited (Mauritius) -Holding Company (c) Subsidiary of White Tiger Finance Limited (Mauritius):- · Caparo Financial Solution Limited (India) (d) Fellow Subsidiary Company: · Caparo India Private Limited (India) (e) Subsidiary Companies: · Caparo Vehicle Products India Private Limited (India) · Caparo MI Steel Proces5ing Private Limited (India) (CMISIL) (a joint venture) · (f) Subsidiary of Caparo Vehicle Products India Private Limited (India) · Caparo Power Private Limited (India) (CPPL) · Caparo Engineering and Construction Private Limited (India) · (g) Common Ownership Interest: Caparo Group Limited, UK Subsidiaries of Caparo Group Limited - Caparo PLC Subsidiaries of Caparo plc : · Caparo Hotels Limited · Caparo Ventures Limited · Caparoespana SL (Spain) · Caparo Medical Products Limited · Caparo Industries plc (UK) Subsidiary of Caparoespana SL (Spain) : Caparo Atlas Espana SA (Spain) Subsidiaries of Caparo Industries plc (UK) : · Caparo Engineering Limited (Includes Clydesdale jones as a division) · Caparo Steel Products Limited · Caparo Vehicle Products Limited · Capare Merchant Bar Plc · Caparo Precision Tubes Limited · Caparo Precision Strip Limited · Caparo Precision Strip Inc. (0.5) · Caparo t4odular Systems Ltd. (U.K).(CMS) · Material Measurements Limited · Caparo Aluminium Technologies Limited · Bridge Aluminium United · Zue Bernet SA (Poland) · Caparo AP Braking Limited · Ca pare Atlas Fastening Limited · Caparo Forging Europe · Caparo Vehicles Technologies Limited · Caparo Tuba Components Limited · Caparo Tube Components 2 Limited · Caparo Accies and Pollock Limited · Ti Car Limited · Gweda Palou Limited · Caparo India Limited Subsidiary of Caparo India Limited, UK :- · Caparo Maruti Limited (India) Others : · Bull Moose Tube Company (USA) · Bull Moose Tube ULC (Canada) · Caparo Vehicles Components Inc (USA) · Vehicles Components Caparo Da Mexico S de RL de CV (Mexico) · Caparo SA (trading as Caparo (GCC) and Caparo Testing Technologies (Middle East) (Switzerland)

CAPITAL STRUCTURE

After as on: 26.06.2011

Authorised Capital: Rs.10000.000 Millions

Issued, Subscribed & Paid-up Capital: Rs.7305.721 Millions

As on 31.12.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
750000000	Equity Shares	Rs.10/- each	Rs.7500.000 Millions
250000000		Rs.10/- each	Rs.2500.000 Millions
	Total		Rs.10000.000 MIllions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
550930755	Equity Shares#	Rs.10/- each	Rs.5509.308 Millions

# Includes 2205272 Nos of shares issued to Caparo India Limited, UK without payment being received in cash.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2010	31.12.2009	31.12.2008
SHAREHOLDERS FUNDS
1] Share Capital		5509.308	2318.662	1240.234
2] Share Application Money		0.001	0.001	1628.420
3] Reserves & Surplus		1545.945	4204.817	3232.028
4] (Accumulated Losses)		(2702.731)	(2223.900)	(1438.070)
NETWORTH		4352.523	4299.580	4662.612
LOAN FUNDS
1] Secured Loans		5582.170	5202.137	4604.871
2] Unsecured Loans		329.500	150.000	0.000
TOTAL BORROWING		5911.670	5352.137	4604.871
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		10264.193	9651.717	9267.483
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6006.158	5847.756	3841.792
Capital work-in-progress		819.225	1224.293	2996.212
INVESTMENT		489.213	489.731	489.730
DEFERREX TAX ASSETS		114.414	114.414	114.414
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1425.263	1026.733	1063.845
	Sundry Debtors	1863.332	1296.360	1040.353
	Cash & Bank Balances	219.679	322.703	146.508
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1910.909	1342.328	1393.263
Total Current Assets		5419.183	3988.124	3643.969
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	460.964	521.125	877.499
	Other Current Liabilities	2070.125	1379.975	765.226
	Provisions	52.911	111.501	175.909
Total Current Liabilities		2584.000	2012.601	1818.634
Net Current Assets		2835.183	1975.523	1825.335
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		10264.193	9651.717	9267.483

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2010	31.12.2009	31.12.2008
	SALES
		Income	9207.791	5750.177	4938.419
		Other Income		280.037	183.127
		TOTAL (A)	9207.791 (Total Revenue)	6030.214	5121.546
Less	EXPENSES
		Raw Material Consumed		3514.855	3569.025
		Increase / Decrease in Stocks	8508.408	75.722	(185.071)
		Manufacturing Expenses		840.622	749.499
		Purchases		326.115	197.467
		Personal Expenses		587.332	563.230
		Administration and Other Expenses		492.448	547.967
		TOTAL (B)	8505.408	5837.094	5442.117
Less	PROFIT/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		631.445	193.120	(320.571)
Less	FINANCIAL EXPENSES (D)		666.914	494.820	427.079
	PROFIT/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(35.469)	(301.700)	(747.650)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		514.300	480.754	361.514
	PROFIT/ LOSS BEFORE TAX (G)		(478.831)	(782.454)	(1109.165)
Less	TAX (H)		0.000	3.375	9.509
	PROFIT/ LOSS AFTER TAX (G-H) (I)		(478.831)	(785.829)	(1118.674)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(2223.900)	(1438.070)	(319.396)
	BALANCE CARRIED TO THE B/S		(2702.731)	(2223.900)	(1438.070)
	EARNINGS IN FOREIGN CURRENCY
		Services-Designing and Prototyping charges	NA	0.000	2.565
		FOB Value of Export	NA	45.779	545.474
	TOTAL EARNINGS		NA	45.779	548.039
	IMPORTS
		Raw Materials	NA	177.053	85.916
		Stores & Spares	NA	146.077	11.862
		Capital Goods	NA	251.218	688.541
	TOTAL IMPORTS		NA	574.348	786.319
	Earnings/ Loss Per Share (Rs.)		(1.13)	(4.32)	(13.16)

KEY RATIOS

PARTICULARS		31.12.2010	31.12.2009	31.12.2008
PAT / Total Income	(%)	(5.20)	(13.03)	(21.84)
Net Profit Margin (PBT/Sales)	(%)	(5.20)	(13.61)	(22.46)
Return on Total Assets (PBT/Total Assets}	(%)	(4.19)	(7.96)	(14.82)
Return on Investment (ROI) (PBT/Networth)		0.11	(0.19)	(0.24)
Debt Equity Ratio (Total Liability/Networth)		1.95	1.71	1.38
Current Ratio (Current Asset/Current Liability)		2.09	1.98	2.00

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	Yes
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 the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

OVERALL PERFORMANCE

During the year, the Company had businesses from various major OEMs like Tab Molon, Eicher Motors, General Motors, Asliok Lcylands, Piaggio, TAFE, Ford, Nissan and other major automotive leaders.

During the year, the automotive industry all over the worId exhibited stable growth. The Company also is making sincere efforts to sustain its market share in existing business and aIso increase its portfolio by business development in exports and export substitution thereby posting 50% increase in revenue to 9207.791 Millions. The Company is confident that with the forthcoming launch of new modles by all the major existing OEMs as well as entry of other GIobal Players like Peugeot Citroen, Renault etc., p0sitit.e growth will be witnessed in the coming )year(s).

Bankers Charges Report as per Registry

Corporate identity number of the company	U74101DL2000PLC105609
Name of the company	CAPARO ENGINEERING INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	101-104, 1^st Floor, Naurang House, 21, Kasturba Gandhi Marg, New Delhi – 110001, India Email Id: caparo@satyam.net.in
This form is for	Creation of Charge
Charge identification (ID) number of the charge to be modified	Book Debts Movable property Floating charge Others All Current Assets and Movable Fixed Assets
Type of charge	Yes Bank Limited 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India Email Id: DelhiCADMidoffice@YESBANK.IN
Particular of charge holder	Deed of Hypothecation dated March 18, 2011
Nature of instrument creating charge	18.03.2011
Amount secured by the charge	Rs.180.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Sales Bill Discounting: To be decided Terms of repayment Sales Bill Discounting: NA Margin Sales Bill Discounting: 10% of the underlying invoice value Extent and operation of the charge First Pari Passu charge on all the current assets of the borrower (both present and future) Second Pari Passu charge on all the movable fixed assets of the borrower (both present and future)
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First Pari Passu charge on whole of current assets of the borrower’s stocks of raw material, semi finished and finished goods, stores and spares, bills receivables and book debts (both present and future) Second Pari Passu charge on whole of movable fixed assets of the borrower (both present and future) located anywhere in India

Contingent liabilities not provided for as on 31 December 2010:

(To the extent as identified, assessed and certified by the management)

i) Custom duty saved -excluding interest & penalty {Guarantee given to customs authorities for tmport of capital goods under EPCG license to the extent export obligation are outstanding Rs. 484,029,666 (Previous Year Rs.484.030 Millions)}, pending fulfillment of export obligation. – Rs.265.442 Millions

ii) Bank Guarantees – Rs.41.024 Millions

iii) Bills Discounted with Banks – Rs.290.936 Millions

iv) Income fax Demand contested in appeals – Rs.6.096 Millions

v) Excise Duty Demand*– Rs.24.131 Millions

vi) Sales Tax Demand – Rs.0.922 Millions

viii) Claim against the company not acknowledged as debt – Rs.1.676 Millions

ix) Others **– Rs.7.276 Millions

* Includes Rs.8.694 Millions as per show cause notice and excluding interest; interest on the same will be considered as and when levied.

**does not include certain labour related claims, which are disputed by the company. Management does not expect any material liability on this account as they feel that the claims raised on the company are not tenable in law.

FIXED ASSETS

· Land Leasehold (2) and (4)

· Land Freehold (2)

· Buildings

· Leasehold Improvement

· Plant and Machinery

· Furniture, Fixtures and Office Equipments

· Vehicles

· Specialized Softwares

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.53.71
UK Pound	1	Rs.86.34
Euro	1	Rs.69.23

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		31

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.