MIRA INFORM REPORT

Report Date :

26.05.2012

IDENTIFICATION DETAILS

Name :	OSWAL WOOLLEN MILLS LIMITED OSWAL DENIMS (UNIT OF OSWAL WOOLLEN MILLS LIMITED)
Registered Office :	G.T. Road, Sherpur, Ludhiana – 141 003, Punjab
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.06.1949
Com. Reg. No.:	16-001522
Capital Investment / Paid-up Capital :	Rs. 249.000 Millions
CIN No.: [Company Identification No.]	U40300PB1949PLC001522
PAN No.: [Permanent Account No.]	AAACO1973F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturers of combed wool and synthetic yarns
No. of Employees :	830 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (63)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 11000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having good track. Directors reported as experienced and respectable businessmen. Trade relations are fair. Business is active. Payments are 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/ Corporate Office 1 :	G.T. Road, Sherpur, Ludhiana – 141 003, Punjab, India
Tel. No.:	91-161-2542512 / 2535740 / 2535741 / 2544313 / 2542501 / 2 / 5 / 7 / 10
Fax No.:	91-161-2662235 / 2660943 / 44 / 2542514/ 2542509
Email:	rmsood@oswnnahar.com davinder@owmnahar.com gayathribprakash@owmnahar.com oswal@owmnahar.com
Website:	http://www.owmnahar.com
Area :	1000 sq. mtrs.
Location :	Owned
Corporate Office 2 :	“Nahar Tower” Industrial Area-A, Ludhiana-141003, India
Tel. No.:	91-161-2600701 to 705
Fax No.:	91-161-2600709 / 2601956
E-Mail :	nahar@owmnahar.com
Corporate Office 3 :	Ludhiana-141010, India
Tel. No.:	91-161-2672590 to 592
Fax No.:	91-161-2674072 / 2670596
E-Mail :	nilldh@owmnahar.com
Sale Office :	Miller Ganj, Ludhiana – 141003, Punjab, India
Factory 1:	G. T. Road, Sherpur, Ludhiana – 141 003, Punjab, India
Factory 2:	Industrial Area `A’, Ludhiana – 141 003, Punjab, India
Factory 3:	Village Lalru, P.O. Dappar, Ambalal, Chandigarh Road, District Mohali, India
Factory 4:	Plot No. 22, Sector 18, Gurgaon, Haryana, India
Factory 5:	Plot No 92, Daba Road, Sherpur, Ludhiana, Punjab, India
0Factory 6:	212 Cochrane Basin Road, Chennai, Tamilnadu, India
Branch Office :	Located at v New Delhi v Mumbai v Kolkata v Chennai v Jammu v Amritsar v Ambala.

DIRECTORS

AS ON 26.08.2011

Name :

Mr. Jawahar Lal Oswal

Designation :

Chairman and Managing Director

Address :

514/2, College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

01.10.1943

Date of Appointment :

31.03.1964

DIN No.:

00463866

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	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Managing director	01-10-07	31-03-64	Active	NO
2	U74899DL1972PLC006181	VARDHMAN INVESTMENTS LIMITED	Director	30-04-78	30-04-78	Active	NO
3	U67120DL1980PTC161885	NAGDEVI TRADING AND INVESTMENT COMPANY LIMITED	Director	16-06-80	16-06-80	Active	NO
4	U67120DL1982PTC161884	OGDEN TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	20-07-82	20-07-82	Amalgamated	NO
5	U65993DL1972PLC006178	VANAIK INVESTORS LIMITED	Director	30-12-84	30-12-84	Active	NO
6	U74899DL1991PTC043052	ABHILASH GROWTH FUND PRIVATE LIMITED	Director	12-02-91	12-02-91	Active	NO
7	U74899DL1991PTC043053	NAHAR GROWTH FUND PRIVATE LIMITED	Director	12-02-91	12-02-91	Active	NO
8	U74999DL1991PLC043054	J L.GROWTH FUND LIMITED	Director	12-02-91	12-02-91	Active	NO
9	U74899DL1979PLC009739	PALAM MOTELS LIMITED	Director	26-02-91	26-02-91	Active	NO
10	U74899DL1991PTC043957	NEHA CREDIT AND INVESTMENT PRIVATE LIMITED	Director	15-04-91	15-04-91	Active	NO
11	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	14-10-91	14-10-91	Active	NO
12	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	14-10-91	14-10-91	Active	NO
13	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Director	30-09-92	30-09-92	Active	NO
14	U65992DL1972PLC006182	GIRNAR INVESTMENT LIMITED	Director	06-09-93	06-09-93	Active	NO
15	U67120DL1972PLC006180	ATAM VALLABH FINANCIERS LIMITED	Director	26-11-94	26-11-94	Active	NO
16	U74899DL1990PTC041601	MONICA GROWTH FUND PRIVATE LIMITED	Director	17-02-98	17-02-98	Active	NO
17	U74899DL1990PTC041600	RUCHIKA GROWTH FUND PRIVATE LIMITED	Director	17-02-98	17-02-98	Active	NO
18	U67120DL1979PLC009388	SANKESHWAR HOLDING COMPANY LIMITED	Director	12-10-99	12-10-99	Active	NO
19	U67120DL1972PLC006179	LUDHIANA HOLDINGS LIMITED	Director	12-10-99	12-10-99	Active	NO
20	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	31-03-06	31-03-06	Active	NO
21	U51494PB2008PLC032059	Monte Carlo Fashions Limited	Managing director	10-08-11	01-07-08	Active	NO

Name :

Mr. Kamal Oswal

Designation :

Director

Address :

514/2, College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

29.02.1962

Date of Appointment :

29.12.1993

DIN No.:

00493213

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	U65992DL1972PLC006182	GIRNAR INVESTMENT LIMITED	Director	14-05-83	14-05-83	-	Active	NO
2	L65910DL1983PLC016036	OSWAL LEASING LIMITED	Director	12-08-83	12-08-83	-	Active	NO
3	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Managing director	01-02-08	27-09-83	-	Active	NO
4	U67120DL1979PLC009388	SANKESHWAR HOLDING COMPANY LIMITED	Director	18-11-83	18-11-83	-	Active	NO
5	U74899DL1983PTC015104	KULU INVESTMENT AND TRADING PRIVATE LIMITED	Director	22-03-84	22-03-84	-	Amalgamated	NO
6	U67120DL1980PTC161885	NAGDEVI TRADING AND INVESTMENT COMPANY LIMITED	Director	13-10-84	13-10-84	-	Active	NO
7	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	15-11-89	15-11-89	-	Active	NO
8	U74899DL1979PLC009739	PALAM MOTELS LIMITED	Director	26-02-91	26-02-91	23-07-08	Active	NO
9	U74899DL1991PTC043052	ABHILASH GROWTH FUND PRIVATE LIMITED	Director	01-06-91	01-06-91	-	Active	NO
10	U74899DL1991PTC043053	NAHAR GROWTH FUND PRIVATE LIMITED	Director	01-06-91	01-06-91	-	Active	NO
11	U74999DL1991PLC043054	J L.GROWTH FUND LIMITED	Director	01-06-91	01-06-91	-	Active	NO
12	U74899DL1991PTC043957	NEHA CREDIT AND INVESTMENT PRIVATE LIMITED	Director	01-06-91	01-06-91	-	Active	NO
13	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Director	30-09-91	30-09-91	-	Active	NO
14	U74899DL1972PLC006181	VARDHMAN INVESTMENTS LIMITED	Director	20-08-92	20-08-92	-	Active	NO
15	U67120DL1982PTC161884	OGDEN TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30-08-93	30-08-93	-	Amalgamated	NO
16	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Director	29-12-93	29-12-93	-	Active	NO
17	U45202PB1994PLC014964	NAHAR INDUSTRIAL INFRASTRUCTURE CORPORATION LIMITED	Director	22-08-94	22-08-94	-	Active	NO
18	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	31-03-06	31-03-06	-	Active	NO
19	U51311PB2001PLC024753	COTTON COUNTY RETAIL LIMITED	Managing director	01-03-12	30-11-06	-	Active	NO
20	U67120DL1972PLC006180	ATAM VALLABH FINANCIERS LIMITED	Director	27-09-08	14-02-08	-	Active	NO
21	U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	01-07-08	01-07-08	-	Active	NO

Name :

Mr. Dinesh Oswal

Designation :

Director

Address :

514/2, College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

04.10.1965

Date of Appointment :

13.07.1992

DIN No.:

00607290

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	U67120DL1972PLC006180	ATAM VALLABH FINANCIERS LIMITED	Director	06-05-85	06-05-85	Active	NO
2	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Managing director	21-05-85	21-05-85	Active	NO
3	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	12-01-07	11-11-88	Active	NO
4	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	15-12-88	15-12-88	Active	NO
5	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Director	13-07-92	13-07-92	Active	NO
6	U67120DL1979PLC009388	SANKESHWAR HOLDING COMPANY LIMITED	Director	31-08-92	31-08-92	Active	NO
7	U74899DL1979PLC009739	PALAM MOTELS LIMITED	Director	08-02-93	08-02-93	Active	NO
8	U74899DL1983PTC015104	KULU INVESTMENT AND TRADING PRIVATE LIMITED	Director	30-04-93	30-04-93	Amalgamated	NO
9	U67120DL1982PTC161884	OGDEN TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30-08-93	30-08-93	Amalgamated	NO
10	U65993DL1972PLC006178	VANAIK INVESTORS LIMITED	Director	06-09-93	06-09-93	Active	NO
11	U45202PB1994PLC014964	NAHAR INDUSTRIAL INFRASTRUCTURE CORPORATION LIMITED	Director	22-08-94	22-08-94	Active	NO
12	U67120DL1972PLC006179	LUDHIANA HOLDINGS LIMITED	Director	12-10-99	12-10-99	Active	NO
13	U74899DL1972PLC006181	VARDHMAN INVESTMENTS LIMITED	Director	09-12-04	09-12-04	Active	NO
14	U74999DL1991PLC043054	J L.GROWTH FUND LIMITED	Director	09-12-04	09-12-04	Active	NO
15	U74899DL1991PTC043052	ABHILASH GROWTH FUND PRIVATE LIMITED	Director	01-10-05	01-10-05	Active	NO
16	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Managing director	01-12-07	31-03-06	Active	NO
17	U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	01-07-08	01-07-08	Active	NO
18	U51311PB2001PLC024753	COTTON COUNTY RETAIL LIMITED	Director	01-09-08	06-08-08	Active	NO

Name :

Mr. Sandeep Jain

Designation :

Executive Director

Address :

514/2, College Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

24.12.1971

Date of Appointment :

30.04.1998

DIN No.:

00565760

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	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Whole-time director	01-10-07	30-04-98	Active	NO
2	U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	01-07-08	01-07-08	Active	NO
3	U17115DL1980PLC177084	VANAIK SPINNING MILLS LIMITED	Director	23-09-10	10-11-09	Active	NO

Name :

Mr. Dinesh Gogna

Designation :

Executive Director – Corporate Finance and Taxation

Address :

30 H, B.R.S. Nagar, Ludhiana, Punjab, India

Date of Birth/Age :

07.07.1953

Date of Appointment :

18.10.2006

DIN No.:

00498670

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	U65992DL1972PLC006182	GIRNAR INVESTMENT LIMITED	Director	10-06-80	10-06-80	Active	NO
2	L65910DL1983PLC016036	OSWAL LEASING LIMITED	Director	19-01-84	19-01-84	Active	NO
3	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Director	21-05-85	21-05-85	Active	NO
4	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	15-11-89	15-11-89	Active	NO
5	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Whole-time director	01-10-11	18-10-06	Active	NO
6	U51311PB2001PLC024753	COTTON COUNTY RETAIL LIMITED	Director	30-11-06	30-11-06	Active	NO
7	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	07-12-06	07-12-06	Active	NO
8	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	29-12-07	12-01-07	Active	NO
9	U51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	01-07-08	01-07-08	Active	NO

Name :

Mrs. Harbhajan Kaur Bal

Designation :

Director

Address :

House No. 2322, Phase X1, Mohali-160065, Punjab, India

Date of Birth/Age :

12.06.1939

Date of Appointment :

01.11.2006

DIN No.:

00008576

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	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	28-09-92	28-09-92	-	Active	NO
2	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Director	25-08-00	25-08-00	-	Active	NO
3	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	30-06-01	30-06-01	-	Active	NO
4	L24116PB1986PLC007030	IOL CHEMICALS AND PHARMACEUTICALS LIMITED	Director	27-03-02	27-03-02	21-05-11	Active	NO
5	L17115PB1979PLC003994	SHREYANS INDUSTRIES LIMITED	Director	29-04-03	29-04-03	28-05-11	Active	NO
6	L17122DL1989PLC035050	SPORTKING INDIA LIMITED	Director	25-04-06	25-04-06	-	Active	NO
7	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Director	29-09-07	01-11-06	-	Active	NO
8	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	29-12-07	12-01-07	-	Active	NO

Name :

Mr. Suresh Kumar Singla

Designation :

Director

Address :

H. No. 119 C, Ward No. 26, Kitchlu Nagar, Ludhinana-141001, Punjab, India

Date of Birth/Age :

07.07.1950

Date of Appointment :

01.11.2006

DIN No.:

00403423

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	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	31-07-02	31-07-02	Active	NO
2	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Director	29-09-07	01-11-06	Active	NO
3	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	29-11-08	30-04-08	Active	NO
4	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Director	29-09-08	30-06-08	Active	NO

Name :

Mr. Kanwar Sain Maini

Designation :

Director

Address :

H.No. 20 SF, H.I.G Flats, Rani Jhansi Raod, Civil Lines, Ludhiana-141001, Punjab, India

Date of Birth/Age :

02.07.1939

Date of Appointment :

01.11.2006

DIN No.:

00454686

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	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	30-06-01	30-06-01	Active	NO
2	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	30-06-01	30-06-01	Active	NO
3	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Director	30-09-02	30-09-02	Active	NO
4	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Director	29-09-07	01-11-06	Active	NO
5	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	29-12-07	12-01-07	Active	NO

Name :

Mr. Om Parkash Sahni

Designation :

Director

Address :

House No. 217-E, Kitchlu Nagar, Ludhinana-141001, Punjab, India

Date of Birth/Age :

16.02.1941

Date of Appointment :

01.11.2006

DIN No.:

00458499

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	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	28-09-92	28-09-92	Active	NO
2	U74899DL1993PLC055880	MIDLAND INTERNATIONAL LIMITED	Director	23-11-96	23-11-96	Amalgamated	NO
3	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	30-06-01	30-06-01	Active	NO
4	L17115PB1980PLC004341	NAHAR SPINNING MILLS LIMITED	Director	30-09-02	30-09-02	Active	NO
5	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Director	29-09-07	01-11-06	Active	NO
6	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	29-12-07	12-01-07	Active	NO

Name :

Mr. Sat Paul Nijhawan

Designation :

Director

Address :

B 45, Moti Nagar, Ludhiana-141003, Punjab, India

Date of Birth/Age :

01.04.1945

Date of Appointment :

03.06.2011

DIN No.:

00495688

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	U67120DL1972PLC006179	LUDHIANA HOLDINGS LIMITED	Director	07-12-82	07-12-82	-	Active	NO
2	U65992DL1972PLC006182	GIRNAR INVESTMENT LIMITED	Director	07-12-82	07-12-82	-	Active	NO
3	U74899DL1972PLC006181	VARDHMAN INVESTMENTS LIMITED	Director	07-12-82	07-12-82	-	Active	NO
4	L65910PB1981PLC023058	KOVALAM INVESTMENT AND TRADING COMPANY LIMITED	Director	01-02-83	01-02-83	-	Active	NO
5	U67120DL1979PLC009388	SANKESHWAR HOLDING COMPANY LIMITED	Director	09-06-88	09-06-88	-	Active	NO
6	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	26-03-99	26-03-99	31-07-08	Active	NO
7	L74900DL1979PLC009989	NAHAR FINANCIAL AND INVESTMENTS LIMITED	Director	30-09-08	31-10-07	-	Active	NO
8	U74899DL1993PTC055526	VIGIL INVESTMENT PRIVATE LIMITED	Director	27-09-08	31-10-07	-	Active	NO
9	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LIMITED	Director	26-08-11	03-06-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gayathri B. Prakash
Designation :	Company Secretary
Address :	Staff Quarters All Saints Institute of Med SCS and Resch., VPO Jaspal Nagar, Ludhinana-141122, Punjab, India
Date of Birth/Age :	04.07.1979
Date of Appointment :	01.08.2008
PAN No.:	AEXPG6855N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.08.2011

Names of Shareholders	No. of Shares	Percentage of Holding
Nagdevi Trading and Investment Company Limited, India	5749122	35.00
Nahar Capital and Financial Services, India	1462500	9.04
Abhilash Growth Fund Private Limited, India	1093805	6.75
Girnar Investment Limited, India	4856163	30.00
Ludhiana Holdings Limited, India	845530	5.22
Vanaik Investors Limited, India	802308	4.96
Jawahar Lal Oswal	196862	1.22
Dinesh Oswal	33962	0.21
Abhilash Oswal	199797	1.23
Sambhav Oswal	162500	1.00
Tanvi Oswal	162500	1.00
Abhinav Oswal	130000	0.80
Rishabh Oswal	130000	0.80
Manisha Oswal	97500	0.60
Ritu Oswal	32500	0.20

AS ON 26.08.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	92.48
Directors or relatives of directors	7.30
Others	0.22
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers of combed wool and synthetic yarns
Products :	v Yarn of Combed Wool v Synthetic Yarn v Denim Fabric etc.

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Licensed Capacity	Installed Capacity	Actual Production
Main Textile Unit
Yarn all kinds (Own)	NA	34496 spindles	7184583 Kgs
Yarn all kinds (Own)	NA		120986 Kgs
Yarn all kinds (Fabrication)	NA		330890 Kgs
Textile goods (From Outside Party)	NA	26585 Pcs
			631404 Mtrs
Wool / Mohair Top	NA	2.500 Millions Lbs. P. A.	2918209 Kgs
Wool Grease	NA		97200 Kgs
Noils	NA		215117 Kgs
Top	NA		5709921 Kgs.
O.W.M. Unit 4
Woollen Yarn	NA	1920 Spindles	520926 Kgs
Yarn (Fabrication A/c)	NA		95764 Kgs
O.W.M. Unit 5
Hosiery Knitwears	NA	Not Feasible	1195841 Pcs
O.W.M. Unit - 6
Hosiery Goods	NA	Not Feasible	1046252 Pcs
Oswal Denims
Cotton Denim Cloth	20.000 million MTR	26.000 million MTR	18148791 MTR
Dyed yarn			189271 Kgs
Waste			452970 Kgs
Oswal Denims – SPG Unit
Yarn	NA	21348 Spindles	8834772 Kgs
Waste	NA	--	1507967 Kgs

* Production of yarn includes 25696 kgs (Previous year 33516 kgs) of yarn produced and consumed for manufacture of Textile fabrics in current year

GENERAL INFORMATION

No. of Employees :

830 (Approximately)

Bankers :

v Allahabad Bank, IIFB Branch, 165 Industrial Area – A Near Cheema Chowk, Ludhiana – 141003, Punjab, India

v Indian Development Bank of India, Sector 17 B, Chandigarh , India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	1754.612	1463.239
Working capital loans banks secured	1993.795	1214.691
Interest accrued due other debt secured	16.593	11.648
Total	3765.000	2689.578
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans others unsecured	357.692	168.527
Other debt unsecured	40.956	40.956
Total	398.648	209.483

Banking Relations :	--
Auditors :
Name :	Gupta Vigg and Company Chartered Accountants
Address :	K-101, Kismat Complex, G. T. Road, Miller Ganj, Ludhiana – 141 003, Punjab, India
Income-tax PAN of auditor or auditor's firm :	AAEFG0353Q
Subsidiaries :	v Monte Carlo Fashions Limited
Enterprises over which key Management Personnel is able to exercise significant Influence :	v Atam Vallabh Financiers Limited v Girnar Investment Limited v J.L. Growth Fund Private Limited v Kulu Investment and Trading Private Limited v Ludhiana Holding Limited v Nagdevi Trading and Investment Company v Abhilash Growth Fund Private Limited v Ruchika Growth Fund Private Limited v Vanaik Investors Limited v Vanaik Spinning Mills Limited v Vardhman Investment Limited v Nahar Spinning Mills Limited v Nahar Industrial Enterprises Limited v Nahar Capital Financial Services Limited v Cotton County Retail Limited

CAPITAL STRUCTURE

AS ON 26.08.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs. 10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16185000	Equity Shares	Rs. 10/- each	Rs. 161.850 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs. 10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs. 10/- each	Rs. 500.000 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		249.000	249.000	249.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2510.718	1691.591	1150.409
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2759.718	1940.591	1399.409
LOAN FUNDS
1] Secured Loans		3765.000	2689.578	2590.149
2] Unsecured Loans		398.648	209.483	151.451
TOTAL BORROWING		4163.648	2899.061	2741.600
DEFERRED TAX LIABILITIES		162.696	150.596	155.050
TOTAL		7086.062	4990.248	4296.059
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2595.659	2177.111	2046.378
Capital work-in-progress		414.188	115.391	38.061
INVESTMENT		290.463	580.929	159.087
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2648.301	1819.012	1291.591
	Sundry Debtors	1402.391	939.367	772.900
	Cash & Bank Balances	370.394	104.190	327.766
	Other Current Assets	8.677	0.000	0.000
	Loans & Advances	1180.493	752.557	650.009
Total Current Assets		5610.256	3615.126	3042.266
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	536.385	402.238	558.817
	Other Current Liabilities	882.478	811.071	305.416
	Provisions	406.000	285.000	125.500
Total Current Liabilities		1824.863	1498.309	989.733
Net Current Assets		3785.393	2116.817	2052.533
MISCELLANEOUS EXPENSES		0.359	0.000	0.000
TOTAL		7086.062	4990.248	4296.059

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Operating Income	9612.589	6335.615	5381.435
		Other Income	84.441	82.801	94.916
		TOTAL	9697.030	6418.416	5476.351
Less	EXPENSES
		Consumption material changes inventories	5800.884	3627.419
		Manufacturing Expenses	654.463	519.368
		Employee related expenses	503.846	402.110
		Administrative and selling expenses	758.113	589.142
		TOTAL	7717.306	5138.039	4638.347
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1979.724	1280.377	838.004
Less	FINANCIAL EXPENSES		282.178	173.186	218.980
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1697.546	1107.191	619.024
Less/ Add	DEPRECIATION/ AMORTISATION		324.058	273.470	275.521
	PROFIT BEFORE TAX		1370.488	833.721	343.503
Less	TAX		425.975	292.538	114.147
Add	Excess Provision for Income Tax for Earlier Years Written Back		0.000	0.000	7.526
	PROFIT AFTER TAX		944.513	541.183	236.882
Less	APPROPRIATIONS		0.000	17.794	158.922
	BALANCE CARRIED TO THE B/S		944.513	523.389	77.960
	EARNINGS IN FOREIGN CURRENCY
		Main Textile Unit	128.243	142.902	153.259
		Oswal Denims	0.41	0.488	2.150
		Oswal Denims-Spinning Unit	11.722	11.722	0.000
	TOTAL EARNINGS		140.375	155.112	155.409
	IMPORTS
		Main Textile Unit	1204.521	751.944	671.248
		O.W.M. Unit-1	71.977	25.855	33.471
		O.W.M. Unit-4	11.058	7.601	0.355
		O.W.M. Unit-5	112.912	28.582	69.501
		O.W.M. Unit-6	0.220	0.220	19.111
		Oswal Denims	128.593	69.956	21.429
		Oswal Denims-Spinning Unit	48.105	122.228	29.716
	TOTAL IMPORTS		1577.386	1006.386	844.831
	Earnings Per Share (Rs.)		32.9	21.73	9.51

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.74	8.43	4.33
Net Profit Margin (PBT/Sales)	(%)	14.26	13.12	6.38
Return on Total Assets (PBT/Total Assets}	(%)	16.70	14.39	6.75
Return on Investment (ROI) (PBT/Networth)		0.50	0.43	0.25
Debt Equity Ratio (Total Liability/Networth)		2.17	2.34	2.67
Current Ratio (Current Asset/Current Liability)		3.07	2.41	3.07

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. Constitution 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	No
18. Major customers	No
19. Payments terms	No
20. Export / Import details	No
21. Market information	--
22. Litigations that the firm / promoter involved	--
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

Corporate identity number of the company	U40300PB1949PLC001522
Name of the company	OSWAL WOOLLEN MILLS LIMITED
Address of the registered office or of the principal place of business in India of the company	G.T. Road, Sherpur, Ludhiana – 141 003, Punjab
This form is for	Creation of charge
Type of charge	Immovable Property Book Debts Movable Property Others (project assets, acquired for the project)
Particular of charge holder	Allahabad Bank, IIFB Branch, 165 Industrial Area - A Near Cheema Chowk, Ludhiana – 141003, Punjab, India Email ID: albiifbldh@gmail.com
Nature of description of the instrument creating or modifying the charge	Term loan agreement for Rs.285 crores for hypothecation of movables executed on non judicial stamp paper of Rs.500.
Date of instrument Creating the charge	20.12.2011
Amount secured by the charge	Rs. 2850.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 1.5% Above The Bank's Base Lending Rate, Blr Presently 10.75% P.A Terms of Repayment 20 Quarterly Instalments Of Rs.142.500 millions Each Commencing From June 2013 Margin 20.45% on the project cost Extent and Operation of the charge 100%
Short particulars of the property charged	v First pari passu charge on all project assets, present and future and existing fixed assets of the company along with other term lenders. v Second joint pari passu charge on current assets of the company along with other lenders of wc limits. v Personal guarantee of s/shri. Jawahar lal oswal, kamal oswal and dinesh oswal

SUBSIDIARY

The company’s subsidiary Monte Carlo Fashions Limited did not carry any commercial activity during the last year and hence, the sale and revenue of the company is nil and the company has incurred a net loss after tax of Rs. 0.009 Millions on account of the essential administrative costs incurred.

DEMERGER

The Board of Directors in their meeting on 18.11.2010 approved of a Scheme of Arrangement and Demerger for the demerger of Monte Carlo Business of the Company comprising of units 5, 6 and 7 to its wholly owned subsidiary M/s Monte Carlo Fashions Limited. Accordingly a petition was made to the Hon’ble High Court of Punjab and Haryana at Chandigarh. The Hon’ble High Court vide its order dated 24.01.2011 ordered the conduct of the Meetings of the Shareholders, Secured and Unsecured Creditors of the Company on 12.03.2011. Shri. Sanjeev Sharma, Senior Advocate was appointed the Chairman and Shri. Rajnish Narula, Advocate was appointed the Alternate Co-chairman of the Meetings. The 7 Subject Standalone Balance Sheet for period 01.04.2010 to 31.03.2011 Members, Secured and Unsecured Creditors unanimously approved of the Scheme of Arrangement and Demerger and the Chairman of the Meetings submitted his report to this effect on 18.03.2011.

The second petition on the Application was made to the Court on 24.03.2011 and came up for hearing on 31.3.2011 and the said petition was fixed for hearing on 20.05.2011.

The Scheme was sanctioned by the Hon’ble High Court on 20.05.2011 and the order copy was delivered to the Company on 28.07.2011.

Thus, upon the Sanction of the Scheme by the Hon’ble High Court the Scheme of Arrangement and Demerger became effective and the Monte Carlo business of the company comprising of Units 5, 6 and 7 stands demerged to the Company Monte Carlo Fashions Limited. The Appointed Date of the Scheme being 01.04.2011, all assets and liabilities of the said units at their values on the said date shall stand transferred to Monte Carlo Fashions Limited as part of the Scheme.

Accordingly as part of the Scheme, Monte Carlo Fashions Limited shall issue 35 shares of Rs.10 each as fully paid up to every shareholder of subject, for every 100 shares of Rs.10 each held by such member in subject.

Pursuant to the sanction of the Scheme of Arrangement and Demerger, Subject shall reduce its share capital as part of the Scheme and all shareholders who had been holding 100 fully paid up shares would now hold 65 shares fully paid up in Subject and the total paid up capital of the Company, subsequent to the sanction of the Scheme of Arrangement and Demerger would stand at Rs.161.850 millions, being 1,68,15,000 shares of Rs.10 each.

As per the terms of the Scheme, the holding Company i.e. Subject would transfer its holding of 50,000 shares in Monte Carlo Fashions Limited to the existing shareholders of the Company as per their entitlement ratio. Hence the Company would make a request for transfer of its holding of 50,000 shares in Monte Carlo Fashions Limited. As a result, Monte Carlo Fashions Limited would no longer be its subsidiary company.

CONTINGENT LIABILITIES

There are contingent liabilities in respect of :

i) Estimated amount of contracts remaining to be executed on Capital account (net of advances) Rs.153316.259 millions (Previous year Rs. 8319.558 millions).

ii) M/s Madhya Pardesh Rajya Tilhan Udyog Limited Bhopal (M.P.) lodged a claim for recovery of Rs.1.482 millions (including a sum of Rs. 0.481 millions on account of interest) being the amount deducted/ retained by the company on account of its claim for quality rebate/quality allowance on the material supplied by them. The company has filed a counter suit denying the said claim and the suit is pending with the High Court at Jabalpur. After adjusting a credit balance of Rs.1.001 millions against the claim a sum of Rs.0.481 millions (Previous year Rs. 0.481 millions is the balance amount of claims against the company for which no provision has been made.

iii) Leave with wages amounting to Rs.0.634 millions (Previous year Rs. 0.614 millions) have not been provided for in respect of company’s employees at Vanaspati Unit, Chennai.

iv) Letters of Credit outstanding in favour of foreign suppliers for raw materials, stores and spares and capital goods Rs. 661.407 millions (Previous year Rs. 221.912 millions):

- Raw Material Rs. 343.112 millions

- Capital goods Rs. 318.295 millions

v) The company has given counter guarantees of Rs. 92.381 millions (Previous year Rs. 1.457 millions) to the Company's bankers for guarantees given by them to the company's constituents and others against fulfillment of certain obligations of the company.

vi) The Company has contested additional demand in respect of Excise Duty and Sales Tax etc., amounting to Rs. 9.228 millions (Previous Year Rs. 8.997 millions). As against this a sum of Rs. 1.809 millions (Previous Year Rs. 1.546 millions) has been deposited under protest and is included in “Advances recoverable in cash or kind”. The company has filed an appeal with the Appellate Authorities and is advised that the demand is not in accordance with the law. No provision, therefore, has been made in the financial accounts.

vii) In the preceding years, company had entered into derivative contracts, which had matured in the earlier years with banks, with a view of cost reduction and transformation of risk of fluctuation of rates of foreign exchange on account of payables and receivables of foreign exchange. Some of the banks in the guise of cost reduction contracts had sold exotic derivative products to the company, which as per expert’s opinion are legally void and not enforceable. Some of the such contracts have been settled during the year and accordingly, the liability amounting to Rs.125.887 millions finally arising out of such contracts has been provided as an expense in the books of account and consequent thereto the foreign exchange contingent (disputed liability) reserve amounting to Rs. 125.387 millions has been transferred to the credit of the profit and loss account and the net balance in foreign exchange contingent (disputed liability) reserve at the end of the year 2010-11 comes to Rs.51.329 millions ( Previous year 176.716 millions).

viii) The Income Tax Assessment upto the Assessment year 2008-2009 has since been completed and the assessment for the financial year relevant to the assessment year 2009-2010 is in progress.

ix) In the Arbitration proceedings between Oswal Agro Mills Limited (OAM) and the company, the Hon’ble High Court of Delhi vide judgment and order dated. 17.04.2007 awarded to OAM a sum of Rs.5.757 millions alongwith simple interest @ 18% p.a. on the principal amount from 01.11.1991 till the date of award i.e 21.02.2000 and simple interest of 12% from the date of award till date of recovery. The company preferred an appeal in the Hon’ble High Court of Delhi against the judgement and order of the Hon’ble single judge of the said Court and also filed an application for stay of recovery and the Stay has been granted subject to deposit of the Awarded amount of Rs. 5.757 millions alongwith interest. The company deposited a sum of Rs. 10.097 millions and the same has been shown as amount recoverable. No provision for any liability which may ultimately arise as a final result of the decision of the Hon’ble Court, has been made in the accounts.

x) (i) The company has given a corporate guarantee of Rs.20.000 millions (Previous year Rs.20.000 millions) to State Bank of Patiala (SBOP) in respect of Term loan sanctioned by SBOP in account of M/S. Nahar International Limited (now merged with M/S. Nahar Industrial Enterprises Limited), one of the constituents of the company.

(ii) The company has given a corporate guarantee of Rs.410.000 millions (Previous year Rs. 2.800 millions) to State Bank of Patiala (SBOP) in respect of Working Capital Limits sanctioned by SBOP in account of M/S.Vanaik Spinning Mills Limited, one of the constituents of the company.

xi) M.P. Audyogik Kendra Vikas Nigam (Bhopal) Limited, Bhopal (MPAKVN) has allotted to the company, on lease hold basis, 97.54 Acres of Land in Industrial Area, Pillukhedi, for putting 100% Composite Denim Fabric Unit, at a total cost of Rs. 74.434 millions and the lease deed dated 15.06.2010 was executed. Subsequently, MPAKVN vide letter No BF.3 (iii)/2010/5816 dated 19.08.2010 raised an additional demand for Rs. 44.410 millions on account of subsequent hike in the rates for land premium and development charges per Sq. Mtr. Of the land allotted. The company has contested the additional demand, the same being unjust, unfair, illegal and arbitrary and has also filed a Writ Petition No. 16796/2010 in the Hon’ble High Court of Madhya Pradesh at Jabalpur. No provision, therefore, has been made in the financial accounts.

FIXED ASSETS :

¨ Land

¨ Roads

¨ Building

¨ Plant and Machinery

¨ Furniture and Fixtures

¨ Vehicles

¨ Computer software

AS PER WEBSITE DETAILS

PROFILE:

From 1949 when small hosiery factory was incorporated into a public limited company, to the present day, constant upward growth has symbolized the charter of a company called Oswal Woollen Mills Limited.

Subject, established in 1949 surges ahead to establish it self as a reputed industrial conglomerate with a wide ranging portfolio from wool   combing, spinning, knitting, fabric, hosiery garments etc.

From starting out with 800 spindles to 25000 spindles today, from simple hosiery items to high value – added items like designer knitwear (Monte Carlo and Canturbury).all these are no mean achievements and what made them possible in so short a time is nothing but a miracle that combined brilliant market insight with diversification.

As the company progressively increased spindlage to 2000 in the year 1960, it had already established a market for itself in the areas of hosiery knitwear and textile fabrics like blankets and shawls etc.

Very soon, it became the first Indian exporter of woolen garments to Russia and shortly after in 1972, the company set up its owm wool combing unit – the first of several backward integration measures. Soon began the in – house processing for the woollen division.

With increasing capacity and demand for its products, subject soon became a name to reckon with, both in the domestic and international markets. Research and development also received focused attention and today the company boasts of north India’s most sophisticated laboratory, approved by the international wool secretariat (IWS) and is even authorized to act as a quality checking center for other manufacturers.

For the domestic market the company launched ‘Monte Carlo’, the first truly international range of designer knitwear followed by another prestigious brand “Canterbury”.

Later on an ultra modern lambs wool and angora spinning plant has been set up, of which more than 50% manufacturer is for captive consumption. The balance meets the requirements of other hosiery knitwear exporters in India. This in turn means immense saving in foreign exchange for India. Further a modernization cum balancing program has been introduced to upgrade its capacity for manufacturing garments and fabrics for various government and defense departments.

The group has spinning capacity of  0.55 millions cotton spindles 25000 worsted spindles with turn over of $550 million inclusive of export turnover of $175 million. The production fascility have been awarded ISO 9001:2000/ISO 14002 certification and okotex certification.

The markets of Nahar Group are cris crossed allover the globe. The objective is meeting the buyers expectations with consistant quality backed by r& d divisions equipped with latest equipment, cream of highly qualified technocrats and adhering to timely schedules.

Today Subject, Is a company that owes its strength in the market and solidity to foresight of its chairman
Sh jawahar lal oswal,the professional inputs of  the board of directors and  able team of highly skilled managers Subject is the flagship company of over us$ 550 millions Nahar Group Of Companies.

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. 56.29
UK Pound	1	Rs. 88.26
Euro	1	Rs. 70.82

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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		63

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.