MIRA INFORM REPORT

Report Date :

15.05.2012

IDENTIFICATION DETAILS

Name :	IMPERIAL AUTO INDUSTRIES LIMITED

Registered Office :	202, Kusal Bazar, 32-33 Nehru Place, New Delhi – 110019, Delhi

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	22.04.1975

Com. Reg. No.:	55-007737

Capital Investment / Paid-up Capital :	Rs.464.588 millions

CIN No.: [Company Identification No.]	U74899DL1975PLC007737

TAN No.: [Tax Deduction & Collection Account No.]	RTKI00449B

PAN No.: [Permanent Account No.]	AAACI0645J

Legal Form :	A closely held public limited liability company

Line of Business :	Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts.

No. Employees:	Total: 900 (Manager:48, Engineers:107, C.Staff:86, Workers:659) [Approximately]

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 5400000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track. Trade relations are reported 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

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

LOCATIONS

Registered Office :	202, Kusal Bazar, 32-33 Nehru Place, New Delhi-110019, Delhi, India
Tel. No.:	91-11-26419619 / 22619619 / 26412022 / 2412311 / 2423791
Fax No.:	91-11-26412736 / 2412136
E-Mail :	csimperial@impauto.com
Website :	http://www.impauto.com
Area :	Owned
Location :	Commercial

Corporate Office / Factory :	Opposite Railway Goods Shed, Faridabad – 121 001, Haryana, India
Tel. No.:	91-129-2423791 / 2412311 / 2412736
Fax No.:	91-129-2412136 / 2428158
E-Mail :	iai@impauto.com
Area :	Land : 8500 sq. meters Building : 4550 sq. meters
Location :	Owned Industrial

Factory 2 :	Plot No. 94, Sector 25, Faridabad - 121004, Haryana, India
Tel. No.:	91-129-5062744/5062741/5062742/2441027
Fax No.:	91-129-2441028
E-Mail :	iail2@vsnl.net
Area :	Land- 7040 sq. meters, Building – 3070 sq. meters

Factory 3 :	Plot No. 32, Sector 27, Faridabad - 121003, Haryana, India
Tel. No.:	91-129-2273692/2271792/2271146
Area :	Land- 1485 sq. meters, Building – 800 sq. meters
Location :	Industrial

Factory 4 :	Plot No. 83, Sector 25, Faridabad - 121004, Haryana, India
Tel. No.:	91-129-2231148/2232993/5062744
Fax No.:	91-129-2441028
Area :	Land- 8780 sq. meters, Building – 4650 meters
Location :	Industrial

Detroit Warehouse :	· 18840 Kelly Ct. Clinton Township ML 48035, USA Tel. No.: +1 586 415 0297 Fax No.: +1 586 415 6231 E-Mail : shawncox734@cs.com · HEL- London, U.K.

Warehouse :	Located at : · Pune · Lucknow · Jamshedpur

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Jagjit Singh Lamba
Designation :	Chairman-cum-Managing Director
Address :	9, Sector 16-A, Faridabad – 121 003, Haryana, India
Date of Birth/Age :	15.09.1938
Date of Appointment :	01.04.2005
DIN No. :	00109439

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	U74899DL1995PLC069837	IAI INDUSTRIES LIMITED	Director	1/10/1995	1/10/1995	-	Active	NO
2	U34300DL1997PLC084252	IMPERIAL AUTO NYLON TUBING LIMITED	Director	6/1/1997	6/1/1997	-	Active	NO
3	U34300DL1971PLC207710	AUTO IGNITION LIMITED	Director	2/7/2002	2/7/2002	-	Active	NO
4	U74899DL1975PLC007737	IMPERIAL AUTO INDUS-TRIES LIMITED	Managing director	1/4/2009	1/4/2005	-	Active	NO
5	U25191DL2005PTC142682	TOKAI IMPERIAL RUBBER INDIA PRIVATE LIMITED	Director	18/11/2005	18/11/2005	-	Active	NO
6	U74899DL1974PLC007063	SOLAR GLASS WORKS LIMITED	Director	28/06/2006	28/06/2006	1/12/2007	Active	NO
7	U55101PB2006PTC030718	NORTHERN INDIA MOTELS AND RESORTS PRIVATE LIMITED	Director	30/11/2006	30/11/2006	28/06/2008	Strike off	NO
8	U25199DL2010PLC207562	S J RUBBER INDUSTRIES LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO

Name :	Mr. Sham Bihari Sardana
Designation :	Managing director
Address :	D-99, Panchsheel Enclave, New Delhi – 110 016, India
Date of Birth/Age :	21.03.1944
Date of Appointment :	01.04.2005
DIN No. :	00109418

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	U34300DL1997PLC084252	IMPERIAL AUTO NYLON TUBING LIMITED	Director	11/7/2000	11/7/2000	-	Active	NO
2	U74899DL1995PLC069837	IAI INDUSTRIES LIMITED	Director	1/12/2008	1/11/2002	-	Active	NO
3	U74899DL1975PLC007737	IMPERIAL AUTO INDUS-TRIES LIMITED	Managing director	1/4/2009	1/4/2005	-	Active	NO
4	U25191DL2005PTC142682	TOKAI IMPERIAL RUBBER INDIA PRIVATE LIMITED	Director	18/11/2005	18/11/2005	-	Active	NO
5	U25199DL2010PLC207562	S J RUBBER INDUSTRIES LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO

Name :	Mr. Ravinder Nath Malik
Designation :	Director
Address :	House No 15, Sector 16 A Faridabad, Haryana, India
Date of Birth/Age :	20.02.1937
Date of Appointment :	28.09.1998
DIN No. :	00109448

Name :	Mr. Ravi Kant Pall
Designation :	Director
Address :	145, W- Block, Greater Kailash – I, New Delhi – 110 048, Delhi, India
Date of Birth/Age :	06.07.1941
Date of Appointment :	14.07.2008
DIN No. :	01229741

Name :	Mr. Vimal Amar Nath Kampani
Designation :	Director
Address :	B-1/31, Malviya Nagar, New Delhi, Delhi, India
Date of Birth/Age :	24.02.1942
Date of Appointment :	09.02.2010
DIN No. :	01543054

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	U51909DL1996PTC080020	HYTEKIMP HOSES PRIVATE LIMITED	Director	1/7/1996	1/7/1996	-	Active	NO
2	U74899DL1975PLC007737	IMPERIAL AUTO INDUS-TRIES LIMITED	Director	9/2/2010	9/2/2010	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Poorti Sachdeva
Designation :	Company Secretary
Address :	957, Sector-14, Faridabad, Haryana, India
Date of Birth/Age :	15.06.1978
Date of Appointment :	08.01.2008
Date of Cessation :	14.12.2009
Pan No. :	AAKPB4454K

Name :	Mr. Vikram Mehra
Designation :	Company Secretary
Address :	502, Sabzaar Apartments, Sector 45, Faridabad, Haryana, India
Date of Birth/Age :	25.01.1972
Date of Appointment :	14.12.2009
Pan No. :	AAUPM4954B

MAJOR SHAREHOLDERS

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Vishan Devi	730050
Sham Behari Sardana	18182050
Jagjit Singh Karta of Jagjit Singh (HUF)	635152
Jagjit Singh	20605243
Manjeet lamba	1806000
Sham Bihari Sardana Karta of S B Sardana (HUF)	1596100
Manav Sardana	464155
Shobha Sardana	1548250
Tarun Lamba	604500
Sham Bihari Sardana Karta of P D Sardana (HUF)	180750
Tarun Lamba Karta of Tarun Lamba HUF	106500
Total	46458750

AS ON 30.09.20111

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts.

Products :

· Fuel Injection Pipe Assemblies

· Brake Tubes

· Teflon Hose Assembly

· Rigid and Fabricated Pipes

· Low Pressure Flexible Hoses

· High Pressure Hoses

· Nylon Tubings

· Multi Layer Hoses

· Stainer Assemblies

· Fuel and vaccume Hoses

· Radiator Hoses

· Moulded Components

· CRDi Pipes

· Piston Cooling Nozzle

· Leak Off Pipe

· Silicon Hoses

· Power Steering Hoses

· Hydraulic Brake Hoses

· Crimped Branch Hoses

Product Descriptions	ITC Codes
Motor Vehicle Parts	87089900
Hydraulic Parts	400962200/ 4200/ 4100
I.C Engine Parts	84099990
Main Battle Tank Parts	87100000
Harvester Parts	84134990

Exports :

· USA

· UK

· Italy

· South Africa

· France

GENERAL INFORMATION

Suppliers :

· Anand Engineering Works

· Ansul Enterprises

· Auto Tech Engineers

· D K Enterprise

· Dharma Engineering Works

· Ganesh Automatics

· J S Enterprise

· M J Enterprise

· Mamta Engineering Corporation

· Marshall Casting Limited

· Neha Engineering Works

· Nidhi Engineering and fabricators

· Preeti Industries

· Rikki Plastic

· V S Industries

· Chawla Enterprises

· S K Enterprises

· Alpha Engineers

· New Swan Enterprises

· Hindustan Graphics

· Raj Industries

· Santokh Industries

· Akash Auto Industries

Customers :

· Maruti Udyog Limited

· TELCO

· Kirloskar Oil Engines Limited

· Escorts Limited

· Eicher Tractors Limited

· Hindustan Motors

· TAFE (Eicher)

· Boss Forklifts

· Case Excavators

· Caterpillar Engines

· Cummins Engines

· Daewoo Cars and Excavators

· Dynapack

· Fiat Uno Cars

· General Motors

· Honda Motorcycles

· Hyundai Cars

· Iveco Trucks

· Jcb Loaders

· John Deere Tractors

· Komatsu Forklifts

· Leyland Trucks

· Massey Fergusson Tractors

· Mazda Trucks

· Mitsubishi Lancer Cars

· New Holland Tractors

· Nissan Trucks

· Perkins Engines

· Peugot Cars

· Peugot Engines for Jeeps

· Suzuki Cars

No. of Employees :

Total: 900 (Manager:48, Engineers:107, C.Staff:86, Workers:659) [Approximately]

Bankers :

Bank of Baroda, A-5, Nehru Ground, Faridabad – 121 001, Haryana, India
Bank of India, 2-A/6, B.P., NIT, Faridabad, Haryana, India
Citi Bank NA, Jeevan Vihar – III, Sansad Marg, New Delhi – 110001, India
Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23, Barakhamba Road, New Delhi – 110001, Delhi, India
ICICI Bank Limited
The Hongkong and Shanghai Banking Corporation Limited, Birla House, 25, Barakhamba Road, New Delhi – 110001, Delhi, India
Indusind Bank Limited, Gopal Das Bhawan, 28, Barakhamba Road, New Delhi-110001, India
Kotak Mahindra Bank Limited, 15-16, UGF Floor, Ambadeep Building, K. G Marg, New Delhi-110001, India
DBS Bank Limited, Upper Ground Floor, Birla Tower, 25, Barakhamba Road, New Delhi – 110001, Delhi, India

Facilities :

SECURED LOANS	31.03.2011 RS. IN MILLIONS	31.03.2010 RS. IN MILLIONS
Rupee term loans banks secured	314.768	325.244
Working capital loans banks secured	1867.336	1445.358
Loans taken for vehicles secured	3.871	2.983
Total	2185.975	1773.585


Banking Relations :	--

Auditors :
Name :	Rakesh Raj and Associates Chartered Accountants
Address :	B-565, Sector – 7, Faridabad – 121 006, Haryana, India
Tel. No.:	91-129-2243491
Fax No.:	91-129-2243492
Pan No. :	AAEFR1998J

Associates :	· Imperial Auto Nylon Tubing Limited · Solar Glass Works Limited · S J Rubber Industries Limited · Imperial Auto Industries · Ideal Auto Industries · S J Industries · S A Industries · Goodwell Industries · Santokh Industries

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

75000000	Equity Shares	Rs.10/- each	Rs.750.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

46,458,750	Equity Shares	Rs.10/- each	Rs.464.588 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		464.587	446.088	406.088
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		899.703	658.782	501.267
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1364.290	1104.870	907.355
LOAN FUNDS
1] Secured Loans		2185.976	1773.586	1814.068
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		2185.976	1773.586	1814.068
DEFERRED TAX LIABILITIES		33.517	33.624	27.752

TOTAL		3583.783	2912.080	2749.175

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		1154.454	1067.079	860.596
Capital work-in-progress		0.000	0.000	131.417

INVESTMENT		177.160	123.400	108.400
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1229.439	1053.611	872.234
	Sundry Debtors	1734.373	1269.785	1133.950
	Cash & Bank Balances	106.377	96.641	54.150
	Other Current Assets	434.553	400.452	354.477
	Loans & Advances	113.729	135.405	49.495
Total Current Assets		3618.471	2955.894	2464.306
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1188.104	1029.658	682.552
	Other Current Liabilities	118.199	159.635	106.183
	Provisions	60.000	45.000	27.500
Total Current Liabilities		1366.303	1234.293	816.235
Net Current Assets		2252.169	1721.601	1648.071

MISCELLANEOUS EXPENSES		0.000	0.000	0.691

TOTAL		3583.783	2912.080	2749.175

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	6967.689	4930.979	3557.971
		Job work	0.000	0.635	0.358
		Transfer from government grant	0.000	0.430	0.430
		Other Income	67.287	107.201	103.184
		TOTAL (A)	7034.976	5039.245	3661.943

Less	EXPENSES
		Cost of material consumed	4606.975	3171.409	2156.900
		Manufacturing expenses	902.992	785.804	616.273
		Employee related expenses	323.623	0.000	0.000
		Administrative expenses	567.297	353.027	265.749
		Selling and distribution expenses	0.000	268.948	234.339
		Deferred revenue expenditure written off	0.000	0.691	0.691
		Increase/Decrease in stocks	0.000	(61.809)	(13.290)
		TOTAL (B)	6400.887	4518.070	3260.662

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		634.089	521.175	401.281

Less	FINANCIAL EXPENSES (D)		199.494	192.551	209.148

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		434.595	328.624	192.133

Less/ Add	DEPRECIATION/ AMORTISATION (F)		133.189	119.785	111.231

	PROFIT BEFORE TAX (E-F) (G)		301.406	208.839	80.902

Less	TAX (H)		60.091	50.872	30.747

	PROFIT AFTER TAX (G-H) (I)		241.315	157.967	50.155

	TAX ADJUSTED FOR EARLIER YEARS		0.000	(0.022)	2.318

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	45.694	93.221

Less	APPROPRIATIONS
		Transfer to General Reserve	NA	0.000	100.000
	BALANCE CARRIED TO THE B/S		444.990	203.639	45.694

	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1113.080	954.454	716.076
	TOTAL EARNINGS		1113.080	954.454	716.076

	IMPORTS
		Raw Materials	1205.759	753.290	592.304
		Consumable dies and tools	0.000	0.752	0.000
		Capital Goods	23.496	20.221	61.513
	TOTAL IMPORTS		1229.255	774.263	653.816

	Earnings Per Share (Rs.)		5.19	3.54	1.29

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.28	3.13	1.37

Net Profit Margin (PBT/Sales)	(%)	4.33	4.24	2.27

Return on Total Assets (PBT/Total Assets}	(%)	6.31	0.54	2.43

Return on Investment (ROI) (PBT/Networth)		0.22	0.19	0.09

Debt Equity Ratio (Total Liability/Networth)		2.60	2.72	2.90

Current Ratio (Current Asset/Current Liability)		2.65	2.39	3.02

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	Yes
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	Yes
18) Major customers	Yes
19) Payments terms	No
20) Export / Import details (if applicable)	Yes
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

Bankers Charges Report as per Registry

Name of the company	IMPERIAL AUTO INDUSTRIES LIMITED
1) Date and description of instrument creating the change	Loan Agreement dated October 23^rd 2003l, which was registered on dated November 6^th 2003 and further modified by Deed of Modification dated September 11^th 2004, Which was registered by Deed of Modification dated October 8^th 2004, and further modified by Deed of Modification dated March 24^th 2005l, which was registered by Deed of Modification dated April 21^st 2005
2) Amount secured by the charge/amount owing on the securities of charge	Working Capital Facility: Fund Based Facility: Rs. 30.000 Millions Non Fund Based Facility: Rs. 20.000 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	First pari passu charge by way of Equitable mortgage by Constructive delivery of Title Deeds of property situated at Plant No. 32l, Sector 27, C Faridabad, the charge being on pari passu basis with Bank of India and Bank of Baroda
4) Gist of the terms and conditions and extent and operation of the charge.	· Repayable on Demand · Cash Credit @ 9.00% p.a. · Other interest rates as per RBI mandated rates specified from time to time
5) Name and Address and description of the person entitled to the charge.	Citi Bank NA, Jeevan Vihar – III, Sansad Marg, New Delhi – 110001, India
6) Date and brief description of instrument modifying the charge	Deed of modification December 15, 2005
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Total Working Capital facilities enhanced to Rs. 210.000 Millions All other terms and conditions shall remain same.

Corporate identity number of the company	U74899DL1975PLCO07737
Name of the company	IMPERIAL AUTO INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	202, Kusal Bazar, 32-33 Nehru Place, New Delhi – 110019, Delhi, India
This form is for	Creation of charge
Type of charge	· Immovable Property · Movable Property · Others
Particular of charge holder	DBA Bank Limited, Upper Ground Floor, Birla Tower, 25, Barakhamba Road, New Delhi – 110001, Delhi, India E-mail: vikramrao@dbs.com
Nature of instrument creating charge	Deed of Hypothecation dated 14.12.2010 on current assets and fixed assets for facilities of INR 400.000 Millions
Date of instrument Creating the charge	14.12.2010
Amount secured by the charge	Rs.400.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	· Rate of interest – As mutually agreed · Terms of repayment - As per sanctioned terms · Margin - As per sanctioned terms · Extent and operation of the charge The charge shall cover the following facilities granted by the Bank to the Company
Short particulars of the property charged	1st PP Charge over the entire current assets of the Company, both present and future (including but not limited to book debts and securities in trade) 1st PP Charge over the movable fixed assets of the Company, both present and future. 1st PP charge over immoveable properties of Company at Plot No. 32/27C, Plot No. 93/25 and Plot No. 13/6, Mathura Road, Faridabad

Fixed Assets:

· Land and building

· Furniture and fittings

· Machinery

· Vehicles

· Technical know how

AS PER WEBSITE

Company Profile

Established in the year 1969
Largest Integrated manufacturer of ‘Fluid Transmission Products’ (FTP’s)
Eight dedicated manufacturing / assembly plants
Multi location manufacturing facilities having diversified product portfolio
Expected to cross Group Turnover of US $ 155 Million (Rs. 700 Crores) by FY 2010-11
3000 employees
ISO / TS 16949:2009 and ISO 14001:2004 certified company
Strategic and Technical Alliances with Major International Players in the Industry
Global Presence and Scale
Major supplier to most leading OEM’s worldwide
Overseas Warehousing Capability and Facility
High level of quality and commitment to continuous improvement

History / Key Milestone

1969

Incorporated as a partnership firm for manufacturing low pressure fuel hose assemblies and in the year 1998 got converted into Limited Company
Established Plant I

1970

Initiated supplies to all the major domestic automotive players - Mahindra and Mahindra, Tata Motors, Kirloskar, FIAT and Ambassador
Started manufacturing Rubber Hoses in-house

1980

Initiated supplies to international players setting up operations in India - Maruti, DCM, Toyota, Swaraj Mazda, Allwyn Nissan JCB, etc
Included Tubular Assemblies in its portfolio of products

1990

Started supplies to most of the new multinationals entering the Indian automotive market - New-Holland, Ford, FIAT, John-Deere, JCB, Mitsubishi and General Motors
Started manufacturing Hi-Pressure Hose Assemblies
Got QS-9000 accreditation for all plants
Established a dedicated Rubber Hose manufacturing unit and a IIIrd Plant to manufacture High Pressure Tubes

2000

Approved global supplier to International Truck, Cummins, Caterpillar, JCB, John Deere and other OEM manufacturers overseas
Established IInd Plant for Tubular assemblies, a dedicated unit for Hydraulic Assemblies and added Nylon Extrusion in its portfolio

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 :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	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.

MIRA INFORM REPORT

1229.439

1053.611

872.234

1734.373

1269.785

1133.950

106.377

96.641

54.150

434.553

400.452

354.477

113.729

135.405

49.495

3618.471

2955.894

2464.306

1188.104

1029.658

682.552

118.199

159.635

106.183

60.000

45.000

27.500

1366.303

1234.293

816.235

2252.169

1721.601

1648.071

4.28

3.13

1.37

4.33

4.24

2.27

6.31

0.54

2.43

0.22

0.19

0.09

2.60

2.72

2.90

2.65

2.39

3.02

Unit