MIRA INFORM REPORT

Report Date :

05.11.2012

1. Summary Information

		Country	India
Company Name	Flowmore Limited	Principal Name 1	Mr. Mahesh Prasad Gupta
Status	Satisfactory	PRINCIPAL NAME 2	Mr. Krishan Kumar Bhatia
		REGISTRATION #	55 - 004773
Street Address	Plot No. 14, Block B/II, Mohan Co-Op Industrial Estate, New Delhi – 110 044, Delhi, India
Established Date	26.07.1967	SIC Code	--
Telephone#	--	Business Style 1	Designing
Fax #	--	Business Style 2	Manufacturing
Homepage	www.flowmorepumps.Com	Product Name 1	Pumps
# of employees	200 [Approximately]	Product Name 2	Valves
Paid up capital	Rs.160,500,000/-	Product Name 3	-
Shareholders	Bodies Corporate:- 80.38 % Directors Or Relatives Of Directors:- 19.62 %	Banking	HDFC Bank
Public Limited Corp.	No	Business Period	45 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
Subsidiary Company	India	Fairbanks Morse India Limited	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.12.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,583,553,000	Current Liabilities	1,533,339,000
Inventories	597,869,000	Long-term Liabilities	136,374,000
Fixed Assets	161,326,000	Other Liabilities	25,989,000
Deferred Assets	1,684,000	Total Liabilities	1,695,702,000
Invest& other Assets	125,628,000	Retained Earnings	613,858,000
		Net Worth	774,358,000
Total Assets	2,470,060,000	Total Liab. & Equity	2,470,060,000
Total Assets (Previous Year)	1,854,569,000
P/L Statement as of	31.12.2011		(Unit: Indian Rs.)
Sales	2,003,691,000	Net Profit	64,139,000
Sales(Previous yr)	2,047,185,000	Net Profit(Prev.yr)	91,780,000

IDENTIFICATION DETAILS

Name :	FLOWMORE LIMITED (w.e.f. 27.06.2008)
Formerly Known :	FLOWMORE PRIVATE LIMITED
Registered Office :	Plot No. 14, Block B/II, Mohan Co- Operative Industrial Estate, New Delhi – 110 044
Country :	India
Financials (as on) :	31.12.2011
Date of Incorporation :	26.07.1967
Com. Reg. No.:	55 – 004773
Capital Investment / Paid-up Capital :	Rs. 160.500 Millions
CIN No.: [Company Identification No.]	U74899DL1967PTC004773
TAN No.: [Tax Deduction & Collection Account No.]	DELF02659G
PAN No.: [Permanent Account No.]	AAACF0876E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Designing, Manufacturing and Testing of Pumps and Valves
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 3000000
Status :	Satisfactory
Payment Behaviour :	Regular
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 regular and as per commitments. The company can be considered normal for business dealing 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	ICRA
Rating	BBB-(Fund Based and Non Fund Based Limit)
Rating Explanation	The moderate credit quality. It carries higher than average credit risk.
Date	June 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 Office :	Plot No. 14, Block B/II, Mohan Co-Operative Industrial Estate, New Delhi – 110 044, Delhi, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	delmkt@flowmorepumps.com
Website :	http://www.flowmoregroup.com
Corporate Office :	443, Udyog Vihar, Phase III, Gurgaon-122 016, Haryana, India
Tel. No.:	91-124-3010883 up to 92
Fax No.:	91-124-3010895
E-Mail :	Delmkt@flowmorepumps.com corporate@flowmoregroup.com
Factory 1 :	9^th Mile Stone, G. T. Road, Sahibaba Extension, P.O. Mohan Nagar, Uttar Pradesh, India
Tel. No.:	91-120-3004320 up to 28
Fax No.:	91-120-3004329 up to 29
E-Mail :	fplworks@flowgroup.com
Factory 2 :	28/A, Site-4, Sahibabad Industrial Area, Sahibabad, Ghaziabad-201 011, Uttar Pradesh, India
Tel. No.:	91-120-3004658/59
Fax No.:	91-120/4155929
E-Mail :	fbmworks@flowgroup.com
Branches :	Located At: v Mumbai v Chennai v Klkata v Amedabad v Idore v Secunderabad v Bangalore v Raipur v Patna v Jamshedpur v Bhubneshwar v Jaipur v Nagpur

DIRECTORS

AS ON 25.05.2012

Name :	Mr. Gaurav Kumar Gupta
Designation :	Managing Director
Address :	6, Shivaji Marg, Rangpuri, New Delhi 110037, India
Date of Birth/Age :	28.12.1970
Date of Appointment :	01.11.2005
DIN No.:	00164590

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	U74899DL1985PTC021587	FLOWMORE ESTATES PRIVATE LIMITED	Director	12/01/1995	12/01/1995	Active	NO
2	U74899DL1994PTC061292	FORTUNE FINCAP PRIVATE LIMITED	Director	05/09/1999	05/09/1999	Active	NO
3	U65993DL1997PLC089660	UNIFIED HOLDINGS LIMITED	Director	30/03/2001	30/03/2001	Active	NO
4	U45201DL1993PTC053533	HOUSTON ESTATES PRIVATE LIMITED	Director	06/02/2004	06/02/2004	Active	NO
5	U29120DL1973PLC006493	FAIRBANKS MORSE INDIA LIMITED	Director	01/11/2005	01/11/2005	Active	NO
6	U74899DL1967PLC004773	FLOWMORE LIMITED	Whole-time director	01/07/2011	01/11/2005	Active	NO
7	U72300DL2006PTC157170	FLOWMORE DESIGN & TECHNOLOGIES PRIVATE LIMITED	Director	29/12/2006	29/12/2006	Active	NO
8	U74999DL1973PTC006743	USHVIN HYDRO SYSTEMS PRIVATE LIMITED	Additional director	08/10/2007	08/10/2007	Active	NO
9	U51909DL1996PTC078032	TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED	Director	08/07/2008	08/10/2007	Active	NO
10	U74899DL1979PTC009602	TOTAL ENGINEERING SERVICES PRIVATE LIMITED	Director	08/07/2008	08/10/2007	Active	NO
11	U74140DL2009PTC195731	SAURABH ADVISORS PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
12	U74140DL2009PTC195730	R G FREELANCERS PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
13	U74900DL2009PTC195724	G G ADVISORY SERVICES PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
14	U74899DL1992PTC048297	F P L PUMPS AND SPARES PRIVATE LIMITED	Director	28/09/2010	18/02/2010	Active	NO
15	U74899DL1989PTC036712	A M ESTATES PRIVATE LIMITED	Director	28/09/2010	05/03/2010	Active	NO

Name :	Mr. Rishabh Gupta
Designation :	Whole Time Director
Address :	6, Shivaji Marg, Rangpuri, New Delhi 110037, India
Date of Birth/Age :	02.02.1978
Date of Appointment :	01.11.2005
DIN No.:	00671390

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	U29120DL1973PLC006493	FAIRBANKS MORSE INDIA LIMITED	Director	01/11/2005	01/11/2005	Active	NO
2	U74899DL1967PLC004773	FLOWMORE LIMITED	Whole-time director	10/10/2007	01/11/2005	Active	NO
3	U72300DL2006PTC157170	FLOWMORE DESIGN AND TECHNOLOGIES PRIVATE LIMITED	Director	29/12/2006	29/12/2006	Active	NO
4	U74999DL1973PTC006743	USHVIN HYDRO SYSTEMS PRIVATE LIMITED	Additional director	08/10/2007	08/10/2007	Active	NO
5	U51909DL1996PTC078032	TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED	Director	08/07/2008	08/10/2007	Active	NO
6	U74899DL1979PTC009602	TOTAL ENGINEERING SERVICES PRIVATE LIMITED	Director	08/07/2008	08/10/2007	Active	NO
7	U74140DL2009PTC195731	SAURABH ADVISORS PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
8	U74140DL2009PTC195730	R G FREELANCERS PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
9	U74900DL2009PTC195724	G G ADVISORY SERVICES PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
10	U74899DL1992PTC048297	F P L PUMPS AND SPARES PRIVATE LIMITED	Director	28/09/2010	18/02/2010	Active	NO
11	U74899DL1989PTC036712	A M ESTATES PRIVATE LIMITED	Director	28/09/2010	05/03/2010	Active	NO
12	U74899DL1985PTC021587	FLOWMORE ESTATES PRIVATE LIMITED	Director	28/09/2010	15/05/2010	Active	NO

Name :	Mr. Krishan Kumar Bhatia
Designation :	Director
Address :	211, Sathi Apartments, Plot No. 18, Sector 9, Rohini, Delhi 110085, India
Date of Birth/Age :	25.09.1953
Date of Appointment :	01.04.2003
Date of Cessation :	25.08.2012
DIN No.:	00685346
Name :	Mr. Saurabh Gupta
Designation :	Whole Time Director
Address :	6, Shivaji Marg, Rangpuri, New Delhi 110037, India
Date of Birth/Age :	29.07.1972
Date of Appointment :	01.11.2005
DIN No.:	00764711

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	U74899DL1985PTC021587	FLOWMORE ESTATES PRIVATE LIMITED	Director	12/01/1995	12/01/1995	Active	NO
2	U29120DL1973PLC006493	FAIRBANKS MORSE INDIA LIMITED	Director	01/11/2005	01/11/2005	Active	NO
3	U74899DL1967PLC004773	FLOWMORE LIMITED	Managing director	01/07/2011	01/11/2005	Active	NO
4	U72300DL2006PTC157170	FLOWMORE DESIGN AND TECHNOLOGIES PRIVATE LIMITED	Director	29/12/2006	29/12/2006	Active	NO
5	U74999DL1973PTC006743	USHVIN HYDRO SYSTEMS PRIVATE LIMITED	Additional director	08/10/2007	08/10/2007	Active	NO
6	U51909DL1996PTC078032	TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED	Director	08/07/2008	08/10/2007	Active	NO
7	U74899DL1979PTC009602	TOTAL ENGINEERING SERVICES PRIVATE LIMITED	Director	08/07/2008	08/10/2007	Active	NO
8	U74140DL2009PTC195731	SAURABH ADVISORS PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
9	U74140DL2009PTC195730	R G FREELANCERS PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
10	U74900DL2009PTC195724	G G ADVISORY SERVICES PRIVATE LIMITED	Director	05/11/2009	05/11/2009	Active	NO
11	U74899DL1992PTC048297	F P L PUMPS AND SPARES PRIVATE LIMITED	Director	28/09/2010	18/02/2010	Active	NO
12	U74899DL1989PTC036712	A M ESTATES PRIVATE LIMITED	Director	28/09/2010	05/03/2010	Active	NO

Name :	Mr. Mahesh Prasad Gupta
Designation :	Whole Time Director
Address :	6, Shivaji Marg, Rangpuri, New Delhi 110037, India
Date of Birth/Age :	28.04.1922
Date of Appointment :	26.07.1967
DIN No.:	01058574

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	U74899DL1967PLC004773	FLOWMORE LIMITED	Whole-time director	26/07/1967	26/07/1967	Active	NO
2	U29120DL1973PLC006493	FAIRBANKS MORSE INDIA LIMITED	Director	20/02/1973	20/02/1973	Active	NO
3	U74999DL1973PTC006743	USHVIN HYDRO SYSTEMS PRIVATE LIMITED	Director	30/07/1973	30/07/1973	Active	NO
4	U74899DL1974PTC007287	DEVSHAKTI HYDRO POWER PRIVATE LIMITED	Director	29/05/1974	29/05/1974	Active	NO
5	U74899DL1979PTC009602	TOTAL ENGINEERING SERVICES PRIVATE LIMITED	Director	17/05/1979	17/05/1979	Active	NO
6	U74899DL1989PTC036712	A M ESTATES PRIVATE LIMITED	Director	30/04/1990	30/04/1990	Active	NO
7	U51909DL1996PTC078032	TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED	Director	11/04/1996	11/04/1996	Active	NO
8	U74899DL1992PTC048297	F P L PUMPS AND SPARES PRIVATE LIMITED	Director	31/08/2006	31/08/2006	Active	NO
9	U72300DL2006PTC157170	FLOWMORE DESIGN AND TECHNOLOGIES PRIVATE LIMITED	Director	29/12/2006	29/12/2006	Active	NO

KEY EXECUTIVES

Name :	Mr. Gautam Karnawat
Designation :	Secretary
Address :	UU-142, Pitampura, New Delhi 110034, Delhi, India
Date of Birth/Age :	18.07.1963
Date of Appointment :	25.02.2010
PAN :	AJJPK7733N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.05.2012

Names of Shareholders	No. of Shares
Gaurav Gupta and Janak Gupta	100710
Rishabh Gupta	154320
Saurabh Gupta	251880
Gaurav Gupta and Mahesh Prasad Gupta	135000
Gaurav Gupta	116880
Saurabh Gupta and Janak Gupta	82440
Sanchyita Tradelink Private Limited, India	60000
Janak Gupta and Saurabh Gupta	320490
Janak Gupta and Rishabh Gupta	500490
Janak Gupta and Gaurav Gupta	302220
Mahesh Prasad Gupta and Rishabh Gupta	395190
Mahesh Prasad Gupta and Saurabh Gupta	395190
Mahesh Prasad Gupta and Gaurav Gupta	395190
GG Advisory Private Limited, India	4280000
RG Freelancers Private Limited, India	4280000
Saurabh Advisors Private Limited, India	4280000
TOTAL	16050000

AS ON 25.05.2012

Equity Shares Break Up	Percentage of Holding
Bodies corporate	80.38
Directors or relatives of Directors	19.62
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Designing, Manufacturing and Testing of Pumps and Valves

Products :

Item Code No.	Product Description
841370.01-04	Designing, Manufacturing and Testing of Pumps and Valves

GENERAL INFORMATION

No. of Employees :

200 (Approximately)

Bankers :

· State Bank of India, Sir P M Road branch, Gresham House, ground Floor, Sir P M Road, Fort, Mumbai-400001, Maharashtra, India

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lowwer Parel (West), Mumbai-400013, Maharashtra, India

· Canara Bank, F-19, Connaught Circus, New Delhi-110001, India

Facilities :

Secured Loan	Rs. In Millions 31.12.2011	Rs. In Millions 31.12.2010
Rupee term loans secured
Rupee term loans banks secured	124.439	554.605
Rupee term loans others secured	11.935
TOTAL	136.374	554.605

Banking Relations :	--
Auditors :
Name :	D. Ostwal and Associates Chartered Accountants
Address :	303-304, Dakha Chambers - 1, 2068, H.S. Nalwa Street 38, Karol Bagh, New Delhi- 110 005, Delhi, India
Tel. No.:	91-11-28754465
Fax No.:	91-11-28754465
E-Mail :	dostwal@gmail.com deepakostwal@bol.net.in
PAN No.:	AABFD7566P
Subsidiaries :	Fairbanks Morse India Limited CIN No.:- U29120DL1973PLC006493
Associates :	Flowmore Design And Technologies Private Limited CIN No.:- U72300DL2006PTC157170 A M Estates Private Limited CIN No.:- U74899DL1989PTC036712 Flowmore Estates Private Limited CIN No.:- U74899DL1985PTC021587 Ushvin Hydro Systems Private Limited CIN No.:- U74999DL1973PTC006743 Total Engineering Services Private Limited CIN No.:- U74899DL1979PTC009602 G G Advisory Services Private Limited CIN No.:- U74900DL2009PTC195724 Saurabh Advisors Private Limited CIN No.:- U74140DL2009PTC195731 R G Freelancers Private Limited CIN No.:- U74140DL2009PTC195730 Devshakti Hydro Power Private Limited CIN No.:- U74899DL1974PTC007287 F P L Pumps And Spares Private Limited CIN No.:- U74899DL1992PTC048297 Templetree Power Construction Private Limited CIN No.:- U51909DL1996PTC078032

CAPITAL STRUCTURE

AS ON 31.12.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
16250000	Equity Shares	Rs.10/- each	Rs. 162.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16050000	Equity Shares	Rs.10/- each	Rs. 160.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2011	31.12.2010 [15 Months]	30.09.2009
SHAREHOLDERS FUNDS
1] Share Capital		160.500	160.500	32.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		613.858	549.719	457.938
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		774.358	710.219	490.038
LOAN FUNDS
1] Secured Loans		136.374	554.605	404.381
2] Unsecured Loans		0.000	4.500	7.498
TOTAL BORROWING		136.374	559.105	411.879
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		910.732	1269.324	901.917
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		161.326	150.277	120.070
Capital work-in-progress		117.705	55.924	10.297
INVESTMENT		0.000	9.770	8.233
DEFERREX TAX ASSETS		1.684	0.069	0.220
EXPENDITURE PENDING ALLOCATION		7.923	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	597.869	397.833	239.117
	Sundry Debtors	1383.554	1038.198	856.751
	Cash & Bank Balances	29.162	24.701	40.048
	Other Current Assets	1.490	1.191	3.283
	Loans & Advances	169.347	176.031	114.483
Total Current Assets		2181.422	1637.954	1253.682
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	107.947	44.972
	Other Current Liabilities	1533.339	435.080	384.808
	Provisions	25.989	42.218	60.805
Total Current Liabilities		1559.328	585.245	490.585
Net Current Assets		622.094	1052.709	763.097
MISCELLANEOUS EXPENSES		0.000	0.575	0.000
TOTAL		910.732	1269.324	901.917

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2011	31.12.2010 [15 Months]	30.09.2009
	SALES
		Income	2003.691	2047.185	1752.754
		Other Income	5.819	10.429	3.137
		TOTAL (A)	2009.510	2057.614	1755.891
Less	EXPENSES
		Consumption Materials Changes Inventories	1370.901	1433.938	1232.081
		Manufacturing Service Costs	18.836	0.000	0.000
		Employees Expenses	135.999	144.505	74.693
		Administrative, Selling and Other Expenses	270.527	247.526	190.883
		TOTAL (B)	1796.263	1825.969	1497.657
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		213.247	231.645	258.234
Less	FINANCIAL EXPENSES (D)		113.646	86.781	67.615
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		99.601	144.864	190.619
Less/ Add	DEPRECIATION/ AMORTISATION (F)		20.657	20.408	12.648
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		78.944	124.456	177.971
Less	TAX (H)		14.805	32.676	44.850
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		64.139	91.780	133.121
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	405.482	302.360
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	0.000	30.000
	BALANCE CARRIED TO THE B/S		NA	497.262	405.481
	Earnings Per Share (Rs.)		3.99	0.41	41.47

KEY RATIOS

PARTICULARS		31.12.2011	31.12.2010 [15 Months]	30.09.2009
PAT / Total Income	(%)	3.19	4.46	7.58
Net Profit Margin (PBT/Sales)	(%)	3.94	6.08	10.15
Return on Total Assets (PBT/Total Assets}	(%)	3.37	6.96	12.96
Return on Investment (ROI) (PBT/Networth)		0.10	0.18	0.36
Debt Equity Ratio (Total Liability/Networth)		2.19	1.61	1.84
Current Ratio (Current Asset/Current Liability)		1.40	2.80	2.55

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	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 (if applicable)	No
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS

The Company has an increase in the turnover in the year 2010-11 as compared to last year from Rs. 2054.320 Millions (15 months) to Rs 2009.510 Millions (12 months). The net profit before tax has decreased to Rs 78.944 Millions as compared to last year profit of Rs 124.456 Millions. The Company expects good and profitable results in future.

FORM 8

Corporate identity number of the company	U74899DL1967PLC004773
Name of the company
Address of the registered office or of the principal place of business in India of the company	Plot No. 14, Block B/II, Mohan Co-Operative Industrial Estate, New Delhi – 110 044, Delhi, India
This form is for	Creation of charge
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	Canara Bank, F-19, Connaught Circus, New Delhi-110001, India
Nature of instrument creating charge	Joint deed of hypothecation, Working capital consortium agreement, Interest agreement, Annexure A & B
Date of instrument Creating the charge	09.10.2012
Amount secured by the charge	Rs. 3100.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As per terms of sanction letter of the respective Bank. Terms of repayment As per terms of sanction letter of the respective Bank. Margin As per terms of sanction letter of the respective Bank. Extent and operation of the charge Charge on pari passu basis on Current Assets in favour of Consortium Banks and first pari passu charge on fixed assets (excluding financed by term lenders) and second charge on fixed assets purchased out of term loan recently sanctioned by HDFC Bank Limited to secure various credit limits sanctioned by Consortium Banks to the company
Short particulars of the property charged (Including location of the property)	Charge on pari passu basis in favour of Canara Bank (Lead Bank of Consortium) and other member bank of consortium

FIXED ASSETS

· Goodwill

· Freehold Land

· Factory Building

· Plant and Machinery

· Office Equipments

· Computers

· Computers Software

· Air Conditioner and Coolers

· Drawings and Designs

· Tubewell

· Motor Car and Motor Cycles

· Bicycles

· Testing Facilities

· Furniture and Fixture

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 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. 53.66
UK Pound	1	Rs. 86.37
Euro	1	Rs. 69.24

INFORMATION DETAILS

Report Prepared by :

DPT

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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.