MIRA INFORM REPORT

Report Date :

01.11.2012

IDENTIFICATION DETAILS

Name :	KRYFS POWER COMPONENTS LIMITED (w.e.f. 09.06.2006)
Formerly Known As :	KRYFS LAMINATIONS PRIVATE LIMITED
Registered Office :	Aza House, 3^rd Floor, 24 Turner Road, Bandra (West), Mumbai – 400 050, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.03.1991
Com. Reg. No.:	11-060602
Capital Investment / Paid-up Capital :	Rs.88.235 Millions
CIN No.: [Company Identification No.]	U25209MH1991PLC060602
TAN No.: [Tax Deduction & Collection Account No.]	MUMK10554F
PAN No.: [Permanent Account No.]	AAACK2791F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Stacked Transformer Laminations, Cores, Lifting Slings etc.
No. of Employees :	600 (Approximately) ( In Office + In Factory)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 6000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is well established and a reputed company having fine track. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	A+ [Long Term Bank Facilities]
Rating Explanation	Adequate degree of safety and low credit risk.
Date	24.01.2012

Rating Agency Name	CARE
Rating	A1 [Short Term Bank Facilities]
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	24.01.2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered / Corporate Office :	Aza House, 3^rd Floor, 24 Turner Road, Bandra (West), Mumbai – 400 050, Maharashtra, India
Tel. No.:	91- 22- 26443533 / 67859999 / 26443522
Mobile No.:	91-9619187237 (Mr. Sameer Mogal)
Fax No.:	91-22-67859999 / 26434462 / 67859988
E-Mail :	sales@kryfs.com abbas0854@yahoo.co.in saif.qureishi@kryfs.com sameer.mogal@kryfs.com
Website :	www.kryfs.com
Area :	1000 Sq. ft.
Location :	Owned
Factory 1 :	Kherdi Unit, Survey No. 211/1 and 193/1, Kherdi Main Road, Near HPCL, Kherdi Village, Silvassa -396230, Dadra and Nagar Haveli, Union Territory, India
Tel. No.:	91-260-2677312
Fax No.:	91-260-2677312
Area :	170000 Sq. ft.
Location :	Owned
Factory 2 :	Palghar, Plot 75, Diwan Industrial Estate, Bidco Road, Mahim Village, Palghar 401404, Maharashtra, India
Tel. No.:	91-9525-25254780
Area :	50000 Sq. ft.
Location :	Owned

DIRECTORS

AS ON 06.08.2012

Name :

Mr. Saifuddin Fakhruddin Qureishi

Designation :

Managing Director

Address :

1101, DIAGO D, Sherly Rajan Road, Bandra (West), Mumbai – 400 050, Maharashtra, India

Date of Birth/Age :

12.05.1964

Date of Appointment :

05.03.1991

Qualification :

B. Sc (Physics)

Election Commission Identity Card No.:

MT/08/036/195568

DIN No.:

00098955

Other Directorship :

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Managing director	01/04/2012	05/03/1991	Active	NO
2	U45400MH2007PTC170137	SHAALI ESTATES PRIVATE LIMITED	Director	20/04/2007	20/04/2007	Active	NO
3	U70102MH2007PTC176237	A.R.S. PROPERTIES PRIVATE LIMITED	Director	27/11/2007	27/11/2007	Active	NO
4	U40104GJ2003PTC042845	PRATIK TRANSFORMERS PRIVATE LIMITED	Additional director	10/05/2012	10/05/2012	Active	NO
5	U74120MH2012PTC231003	KRYFS ENGINEERING PRIVATE LIMITED	Director	14/05/2012	14/05/2012	Active	NO

Name :

Mr. Rauzat Saifuddin Qureishi

Designation :

Whole time Director

Address :

1101, DIAGO D, Sherly Rajan Road, Bandra (West), Mumbai – 400 050, Maharashtra, India

Date of Birth/Age :

01.03.1967

Date of Appointment :

19.06.2000

Qualification :

B.A.

Election Commission Identity Card No.:

MT/08/036/196459

DIN No.:

00098990

Other Directorship :

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Whole-time director	01/04/2012	19/06/2000	Active	NO

Name :

Mr. Rakesh Madanlal Nanda

Designation :

Director

Address :

Navjivan Commercial Building, 3 ‘A’ Wing, 9^th Floor, Office No.20, Mumbai Central (East), Mumbai - 400 008, Maharashtra, India

Date of Birth/Age :

07.08.1962

Date of Appointment :

18.05.2006

Qualification :

C.A.

DIN No.:

00208359

Other Directorship :

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Director	18/05/2006	18/05/2006	Active	NO
2	U67190MH2008PLC179153	VISTAAR RELIGARE CAPITAL ADVISORS LIMITED	Director	20/02/2008	20/02/2008	Active	NO

Name :

Mr. Sanjay Khatau Asher

Designation :

Director

Address :

32, Modi Street, Next to GPO, Fort, Mumbai – 400 001, Maharashtra, India

Date of Birth/Age :

26.11.1964

Date of Appointment :

18.05.2006

Qualification :

Solicitor, LLB and C.A.

DIN No.:

00008221

Other Directorship :

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15141MP1992PLC007176	DEWAS SOYA LIMITED	Director	12/09/2011	29/07/1994	19/03/2012	Active	NO
2	U65920MH1994PTC080585	SEENOL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	27/01/1995	27/01/1995	18/03/2010	Active	NO
3	U24231MH1979PTC020957	FINOLIB CHEMICALS PRIVATE LIMITED	Director	30/09/1995	30/09/1995	-	Amalgamated	NO
4	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	01/07/1998	01/07/1998	-	Active	NO
5	U63000MH1998PTC117292	ALLIED PICKFORDS INDIA PRIVATE LIMITED	Director	01/12/1998	01/12/1998	-	Active	NO
6	U65993MH1980PTC022723	MAJESTY INVESTMENTS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Amalgamated	NO
7	U74999MH1971PTC015021	ORBIT ELECTRICALS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Active	NO
8	U26954MH1969PTC014245	SIPOREX INDIA PRIVATE LIMITED	Director	29/04/1999	29/04/1999	-	Active	NO
9	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	02/08/1999	02/08/1999	-	Active	NO
10	L01542KA1995PLC019046	SHREE RENUKA SUGARS LIMITED	Director	05/08/1999	05/08/1999	-	Active	NO
11	U27108TN1999PTC069389	MIGATRONIC INDIA PRIVATE LIMITED	Director	07/09/1999	07/09/1999	29/06/2009	Active	NO
12	U51900MH1999PTC122481	DIAMANT BOART MARKETING PRIVATE LIMITED	Director	01/11/1999	01/11/1999	-	Active	NO
13	L22200MH1993PLC071431	REPRO INDIA LIMITED	Director	02/05/2000	02/05/2000	-	Active	NO
14	U92132MH1995PLC085835	INDUSIND MEDIA AND COMMUNICATION LIMITED	Director	29/06/2000	29/06/2000	31/12/2006	Active	NO
15	U33111MH2000FTC129835	TEVAPHARM INDIA PRIVATE LIMITED	Director	01/12/2000	01/12/2000	08/09/2011	Active	NO
16	U85199MH2002PTC135700	ARJOHUNTLEIGH HEALTHCARE INDIA PRIVATE LIMITED	Director	30/04/2002	30/04/2002	-	Active	NO
17	U66010PN2000PLC015329	BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
18	U66010PN2001PLC015959	BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
19	U24230MH2002PTC136896	MEPHA PHARMA INDIA PRIVATE LIMITED	Director	20/08/2002	20/08/2002	-	Strike off	NO
20	U65990MH1993FTC074460	MORGAN STANLEY INVESTMENT MANAGEMENT PRIVATE LIMITED	Director	09/04/2003	09/04/2003	-	Active	NO
21	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	20/09/2003	20/09/2003	-	Active	NO
22	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	27/09/2003	27/09/2003	-	Active	NO
23	U74140MH2004PTC144831	A L RECORDS MANAGEMENT PRIVATE LIMITED	Director	03/03/2004	03/03/2004	-	Active	NO
24	L29199GJ1981PLC028741	INTEGRA ENGINEERING INDIA LIMITED	Director	11/03/2004	11/03/2004	18/02/2011	Active	NO
25	U92419MH2000PTC129811	CRICINFO ONLINE INDIA PRIVATE LIMITED	Director	16/04/2004	16/04/2004	30/08/2012	Active	NO
26	U72900MH2001PTC131322	CRICINFO DATA SERVICES PRIVATE LIMITED	Director	16/04/2004	16/04/2004	30/08/2012	Active	NO
27	U74140MH2004PTC146033	N V ADVISORY SERVICES PRIVATE LIMITED	Director	30/04/2004	30/04/2004	-	Active	NO
28	L22219DL1955PLC211606	INFOMEDIA PRESS LIMITED	Director	24/05/2004	24/05/2004	21/08/2008	Active	NO
29	U74210MH2003PTC142289	ENGINEERING AND DESIGNS TECNIMONT ICB PRIVATE LIMITED	Director	22/02/2005	22/02/2005	31/03/2008	Amalgamated	NO
30	U29120MH2005PTC152258	SAURER PRECICOMP PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Amalgamated	NO
31	U30009MH1991PTC064182	I2IT PRIVATE LIMITED	Director	23/08/2006	28/01/2006	05/02/2011	Active	NO
32	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Director	18/05/2006	18/05/2006	-	Active	NO
33	U64202PN1999PLC013499	DIVINET ACCESS TECHNOLOGIES LIMITED	Additional director	04/08/2006	04/08/2006	05/04/2010	Active	NO
34	U45201PN2006FTC138676	BIOPHARMAX INDIA PRIVATE LIMITED	Director	15/09/2006	15/09/2006	10/03/2008	Active	NO
35	U60231TN2006PTC061597	C.H. ROBINSON WORLDWIDE FREIGHT INDIA PRIVATE LIMITED	Director	27/11/2006	27/11/2006	01/12/2006	Active	NO

Name :	Hayashi Shizuka
Designation :	Nominee Director
Address :	4-39-2-102, Tamagawa, Setagaya Ku, Tokyo-1580094
Date of Birth/Age :	15.10.1957
Date of Appointment :	18.05.2012
DIN No.:	03316927

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 06.08.2012

Names of Shareholders	No. of Preferences Shares	No. of Equity Shares
Saifuddin Fakhruddin Qureishi (Joint)	--	4235942
Fakhruddin Bakirali Qureishi (Joint)	--	2363882
Kulsum Fakhruddin Qureishi	--	675113
Rauzat Saifuddin Quereishi	--	204879
Yasmin Minhaz Karachiwala	--	20000
Karachiwala Shabbir Minhaz	--	84
Shireen Saifuddin Qureishi	--	100
Toyoto Tsusho Corporation, Tokyo	833333	--
TOTAL	833333	7500000

AS ON 06.08.2012

Equity Share Breakup	Percentage of Holding
Directors or relatives of director	100.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Stacked Transformer Laminations, Cores, Lifting Slings etc.

Products :

Products Description	Item Code No
CRGO Transformer Laminations	85049010
Alingset Polyester Round and Webbing Slings	56090090
· Electrical Laminations · Transformer Cores and Silicon Steel Strips / Coils · Power and Distribution Transformers · Polyester Round and Webbing Slings	85049010

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Installed Capacity	Actual Production
Electrical Lamination, Strips and Cores (Excludes scrap)	M.T.	30000.00	*28000.817
Polyester Slings	Nos.	60000	36343
Transformers	KVA	1250000	153 Nos 808815 KVA

NOTES:

*Includes production on job work basis 4045.397 M. T.

GENERAL INFORMATION

Suppliers :

· POSCO-India

Customers :

Wholesalers, Retailers and OEM’s

· CROMPTON BHEI

· Finance Limited

· Bharat Bijlee Limited

· EMCO Transformers

· Kanohar Electricals Limited

· Indo Tech Transformers Private Limited

· ECE Industries Limited

· Voltamp Transformers Limited

· ABB

· Areva

· Bharat Heavy Electricals Limited

· Crompton Greaves Limited

· Kirloskar Power Equipments Limited

· Seimens

· TELK

· Vijai Electricals Limited

No. of Employees :

600 (Approximately) ( In Office + In Factory)

Bankers :

· Citibank, Fort Branch, Mumbai, Maharashtra, India

· Bank of India, Mumbai Large Corporate Banking Branch of India Building, 70/80, M G Road, Mumbai – 400 023, Maharashtra, India

· Standard Chartered Bank, Branch Fort, Mumbai, Maharashtra, India

· Kotak Mahindra Bank , Fort Branch, Mumbai, Maharashtra, India

Facilities :

Banker	Facilities	Rs. In Millions
Citibank	Overdraft / Letter on Credit	600.000
Standard Chartered Bank,	Overdraft	200.000
Bank of India	Letter on Credit	920.000
Bank of India	Cash Credit	100.000
Kotak Mahindra Bank	Cash Credit	200.000

Secured Loans	31.03.2011 [Rs. In Millions]	31.03.2010 [Rs. In Millions]
Loans Taken For Vehicles Secured	0.619	2.619
TOTAL	0.619	2.619
Unsecured Loans	31.03.2011 [Rs. In Millions]	31.03.2010 [Rs. In Millions]
Deferred Sales Tax Loan Unsecured	2.256	2.256
TOTAL	2.256	2.256

Banking Relations :

--

Auditors :

Name :

A.S. Kanchwalla and Associates

Chartered Accountants

Address :

203, Fine Mansion, R No.3, 3^rd Floor, Dr. D N Road, Fort, Mumbai – 400 001, Maharashtra, India

Tel. No.:

91-22-22622802

PAN No.:

AACPK1107A

Related Parties :

(As on 31.03.2010)

· Qureishi Enterprises

Address : 14, Evergreen Industrial Estate, Shanti Mills Compound, Mahalaxmi, Mumbai – 400011, Maharashtra, India

Line of Business: Trading in Mail handing equipment and cutlery items.

· Fairco Exports

Address : 101, Classic Corner, 133, Hill Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Line of Business : Trading in Silicon Steel

· Tristar Manufacturing Company

· Shaali Estates (Private) Limited

· KRYFS Charitable Trust

CAPITAL STRUCTURE

AS ON 06.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
14150000	Equity Shares	Rs.10/- each	Rs. 141.500 Millions
850000	Preferences Shares	Rs.10/- each	Rs. 8.500 Millions
	TOTAL		Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7500000	Equity Shares	Rs.10/- each	Rs. 75.000 Millions
833333	Preferences Shares	Rs.10/- each	Rs. 8.333 Millions
	TOTAL		Rs. 83.333 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8823530	Equity Shares	Rs.10/- each	Rs.88.235 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		88.235	88.235	88.235
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1413.805	1176.280	1049.161
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1502.040	1264.515	1137.396
LOAN FUNDS
1] Secured Loans		0.619	2.619	4.586
2] Unsecured Loans		2.256	2.256	2.786
TOTAL BORROWING		2.875	4.875	7.372
DEFERRED TAX LIABILITIES		50.034	42.977	31.333
TOTAL		1554.949	1312.367	1176.101
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		505.648	503.367	438.305
Capital work-in-progress		32.612	13.756	40.806
INVESTMENT		15.354	13.041	106.878
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	349.216	479.262	565.446
	Sundry Debtors	1243.066	723.633	745.990
	Cash & Bank Balances	59.489	51.088	27.590
	Other Current Assets	122.313	115.462	72.546
	Loans & Advances	33.555	45.006	45.810
Total Current Assets		1807.639	1414.451	1457.382
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	718.221	523.740	817.538
	Other Current Liabilities	64.797	64.505	28.627
	Provisions	23.286	44.003	21.105
Total Current Liabilities		806.304	632.248	867.270
Net Current Assets		1001.335	782.203	590.112
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1554.949	1312.367	1176.101

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Net Sales	4053.412	3152.932	2715.761
		Other Income	18.592	31.829	14.579
		TOTAL (A)	4072.004	3184.761	2730.340
Less	EXPENSES
		Consumption Materials Changes Inventories	3344.307	2689.140
		Manufacturing Service Costs	65.475	39.608
		Employee Related Expenses	80.655	52.196	2572.432
		Administrative Selling Other Expenses	146.800	107.343
		TOTAL (B)	3637.237	2888.287	2572.432
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		434.767	296.474	157.908
Less	FINANCIAL EXPENSES (D)		26.795	16.441	43.553
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		407.972	280.033	114.355
Less/ Add	DEPRECIATION/ AMORTISATION (F)		40.713	34.946	18.829
	PROFIT BEFORE TAX (E-F) (G)		367.259	245.087	95.526
Less	TAX (H)		124.607	81.956	31.010
	PROFIT AFTER TAX (G-H) (I)		242.652	163.131	64.516
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		438.242	363.623	352.962
Less	APPROPRIATIONS
		Final Dividend	4.412	30.883	9.706
		Tax on Distributed Profits	0.716	5.129	1.649
		Transfer to General Reserve	68.000	52.500	42.500
	BALANCE CARRIED TO THE B/S		607.766	438.242	363.623
	EARNINGS IN FOREIGN CURRENCY
		FOB value of Exports	NA	254.936	385.640
	TOTAL EARNINGS		NA	254.936	385.640
	IMPORT VALUE		NA	1859.239	2005.044
	Earnings Per Share (Rs.)		27.50	18.49	7.31

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.96	5.12	2.36
Net Profit Margin (PBT/Sales)	(%)	9.06	7.77	3.52
Return on Total Assets (PBT/Total Assets}	(%)	15.88	12.78	5.04
Return on Investment (ROI) (PBT/Networth)		0.24	0.19	0.08
Debt Equity Ratio (Total Liability/Networth)		0.54	0.50	0.77
Current Ratio (Current Asset/Current Liability)		2.24	2.24	1.68

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	Yes
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	Yes
10]	Designation of contact person	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
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
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

change of address

The Registered Office of the company has been shifted from 101, Classic Corner, 133, Hill Road, Off St. Andrews Road, Bandra (West), Mumbai – 400 050, Maharashtra, India to the present address w.e.f. 01.11.2008.

CONTINGENT LIABILITIES (AS ON 31.03.2011)

Guarantees provided by the bank Rs.39.916 Millions, Previous year (Rs. 33.715 Millions).

Contingent Liability in respect of outstanding Letter of Credit opened by the Bank is Rs. 455.895 Millions (Previous year Rs. 441.812 Millions).

Suit filed against company not acknowledged as debt Rs. 9.575 Millions (Previous Year 9.575 Millions).

Contingent Liability in respect of bills discounted with banks which are against confirmed letter of credits received from customers Rs. 70.478 Millions (previous year 38.082 Millions)

Estimated amounts of contracts remaining to be executed in capital account and not provided for Rs.16.178 Millions (Previous year- 3.960 Millions).

Summary of disputed statutory demands not accepted by the Company is given below:

Particulars	As on 31.03.2011 Rs. in Millions	As on 31.03.2010 Rs. in Millions
Income Tax	35.126	6.283
Wealth Tax	0.000	0.034
Fringe Benefit Tax	0.000	0.073
Total	35.126	6.390

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25209MH1991PLC060602
Name of the company	KRYFS POWER COMPONENTS LIMITED
Address of the registered office or of the principal place of business in India of the company	Aza House, 3^rd Floor, 24 Turner Road, Bandra (West), Mumbai – 400050, Maharashtra, India E-Mail: saif.qureishi@kryfs.com
This form is for	Modification of charge
Charge identification number of the modified	10040414
Type of charge	Immovable Property
Particular of charge holder	Bank of India, Mumbai Large Corporate Banking Branch, 70/80, M G Road, Fort, Mumbai - 400023, Maharashtra, India E-Mail: Mumbai.Lcbb@bankofindia.co.in
Nature of description of the instrument creating or modifying the charge	Memorandum of entry for extension of mortgaged charged by deposit of title deed dated 7^th June, 2010 for enhanced finance facility from 1070.000 millions to 1400.000 millions.
Date of instrument Creating the charge	07/06/2010
Amount secured by the charge	Rs.1400.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Interest shall be charged on the outstanding in the said Accounts(s) at such rate or rate as may be determined by the Bank form time to time. Terms of Repayment: on demand Margin: The Company shall maintain such security margin as may be stipulated by the Bank Extent and Operation of the charge: Extension of existing mortgage details as per (A) (B) and (C) given in Para No. 3 in Memorandum of Entry dated 7th June 2010. Others: The charge created/to be created by the Company on the land and building shall rank pari passu inter se the banks for all purpose and to all intents without any priority over the other or others. This security shall be a continuing security for the balance time to time due to the said banks and each of them under the said Account(s).
Short particulars of the property charged	All that piece or parcel of the non agriculture land admeasuring about 1 hectare and 52 are equivalent to 15200 sq mtrs. bearing S.No. 211/1 at Village Kherdi in the UT of Dadra and Nagar Haveli Plot No. 63 Admeasuring about 800 Sq.Yard S.No.411/1 (Part), 433/3 (Part), 433/4 (Part) At Mouje Village Taluka Mahim District Palghar Thane Plot No. 75 Admeasuring about 800 Sq.Yard S.No.411/1 (Part), 433/3 (Part), 433/4 (Part) Mouje Village Taluka Mahim District Palghar Thane S.No. 231/1 Admeasuring about 9500 Sq. Mtrs at Village Kherdi in the U T Of Dadra and Nagar Haveli. S.No.231/3, 231/2/1 Admeausuring about 0 Hectare and 60 are equivalent to 5590 Sq.Mtrs at Village Kherdi in the Ut of Dadara and Nagar Haveli S.No.193/1/1/2 Admeasuring about 7000 Sq.Mtrs at Village Kherdi in the UT of Dadra and Nagar Haveli. Premises No 302, 3rd Floor, with 2 Car Parking Space in Building known as 'Turner Road Commercial' (Aza House), Turner Road, Bandra (West), Mumbai-400 050
Date of latest modification prior to the present modification	23/09/2008
Particulars of the present modification	Additional Security by Memorandum of Entry in respect of Deposit of Title Deeds so as to cover the increased finance facility from Rs.1070.000 millions to 1400.000 millions.

FIXED ASSETS

· Land

· Buildings

· Furniture and Fixtures

· Plant and Machinery

· Electrical Installations

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.11
UK Pound	1	Rs.87.07
Euro	1	Rs.70.14

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
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	6
--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		52

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.