MIRA INFORM REPORT

Report Date :

17.11.2012

IDENTIFICATION DETAILS

Name :	QUAKER CHEMICALS INDIA LIMITED
Registered Office :	Biren Roy Road (West), Jhowtala, Raipur, Maheshtala - 743352, 24 Parganas (South), West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.06.1997
Com. Reg. No.:	21-084645
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
CIN No.: [Company Identification No.]	U24100WB1997PLC084645 (NEW) U28113WB1997PLC084645 (OLD)
TAN No.: [Tax Deduction & Collection Account No.]	CALQ00074E
PAN No.: [Permanent Account No.]	AAAE00446R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Marketing of Industrial Lubricants such as Semi-Synthetic and Synthetic Rolling Lubricants and Chemical Specialities, Fire Resistant Hydraulic Fluids, Corrosion Preventives, Metal Working Fluids, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 1500000
Status :	Good
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established and reputed company having good track record. The financial for the current year is missing from government department. However, from the previous year record company seems good. Performance capacity is high. Financially seems healthy. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered 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

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 Technical Centre :	Biren Roy Road (West), Jhowtala, Raipur, Maheshtala - 743352, 24 Parganas (South), West Bengal, India
Tel. No.:	91-33- 24927045/ 0065
Fax No.:	91-33- 24920251
E-Mail :	ghosha@quakerchem.com technicalcentre@quakerchemindia.com
Website :	www.quakerchemindia.com
Corporate Office :	Alom House, 2nd Floor, 7B, Pretoria Street, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-22822181/ 5414
Fax No.:	91-33-22827278
E-Mail :	sales@quakerchemindia.com
West Regional Office :	Office No. 505, 5th Floor, CASABLANCA, Plot No. 45, Sector No. 11, CBD Belapur, Navi Mumbai – 400614, Maharashtra, India
Tel. No.:	022-41232567
E-Mail :	sales-mumbai@quakerchemindia.com
North Regional Office :	Plot No. 19, Opposite Maruti Suzuki, Gate No. 02, Old Delhi Road, Gurgaon- 122001, Haryana, India
E-Mail :	sales-delhi@quakerchemindia.com
Pune Office & Warehouse: :	Survey No. 51/52, Post Kuruli, Opposite Suraj Weigh Bridge Burge Vasti , Chakan Taluk - Khed, District - Pune – 410501, Maharashtra, India
E-Mail :	sales-pune@quakerchemindia.com

DIRECTORS

AS ON 17.08.2012

Name :

Mr. Gulshan Kumar Sachdev

Designation :

Managing director

Address :

Tripura Enclave, Unit – 5, 5^th Floor 59 Bally Gunge Circular Road, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

28.10.1947

Date of Appointment :

01.04.2012

DIN No.:

00266459

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	U50500WB1974PLC029669	ASIANOL LUBRICANTS LIMITED	Managing director	25/08/1976	25/08/1976	Active	NO
2	U24100WB1997PLC084645	QUAKER CHEMICALS INDIA LIMITED	Managing director	01/04/2012	07/08/1997	Active	NO
3	U24299WB2005PTC103411	ASIANOL BIOTECH PRIVATE LIMITED	Director	27/05/2005	27/05/2005	Active	NO

Name :

Sheo Kumar Kajaria

Designation :

Director

Address :

701 Suryakiran, 6^th Floor, 4A, Ashoka Road, Kolkata - 700027, West Bengal, India

Date of Birth/Age :

17.08.1941

Date of Appointment :

07.08.1997

DIN No.:

00025832

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	U67120WB1946PTC014494	A G (INVESTMENTS) PRIVATE LIMITED	Director	19/04/1965	19/04/1965	-	Active	NO
2	U50500WB1974PLC029669	ASIANOL LUBRICANTS LIMITED	Director	27/09/1974	27/09/1974	-	Active	NO
3	U70101WB1963PTC025947	ALLEN PARK PROPERTIES PRIVATE LIMITED	Director	16/11/1978	16/11/1978	-	Active	NO
4	U51109WB1955PTC022590	RADHESHYAM SONS PRIVATE LIMITED	Director	20/05/1980	20/05/1980	-	Active	NO
5	U70109WB1985PTC038377	SUDRADH ESTATES PRIVATE LIMITED	Director	07/12/1988	07/12/1988	-	Active	NO
6	U74950WB1982PTC034528	S K CONTAINERS PRIVATE LIMITED	Director	07/12/1988	07/12/1988	-	Active	NO
7	U70109WB1985PTC038378	SUGARH PROPERTIES PRIVATE LIMITED	Director	04/03/1991	04/03/1991	-	Active	NO
8	U51909WB1991PTC050977	SNK HOLDINGS PRIVATE LIMITED	Director	01/04/1991	01/04/1991	-	Active	NO
9	U65993WB1989PTC046504	SNK BUSINESSES PRIVATE LIMITED	Director	18/04/1991	18/04/1991	-	Active	NO
10	U27109WB1977PTC031014	SH CONSTRUCTION PRIVATE LIMITED	Director	01/09/1992	01/09/1992	-	Active	NO
11	U65922WB1994PTC061878	STEWART ENCLAVE AND FINVEST PRIVATE LIMITED	Director	13/09/2012	18/02/1994	-	Active	NO
12	U70109WB1985PTC038376	SAMPURNA ESTATES PRIVATE LIMITED	Director	12/12/1994	12/12/1994	-	Active	NO
13	U70102WB1995PTC071469	KRISHNA NIKET PRIVATE LIMITED	Director	10/05/1995	10/05/1995	-	Amalgamated	NO
14	U70101WB1995PTC071468	HARIKUNJ NIWASH PRIVATE LIMITED	Director	10/05/1995	10/05/1995	-	Active	NO
15	U70101WB1995PTC071853	BANSEN NIWASH PRIVATE LIMITED	Director	31/05/1995	31/05/1995	-	Amalgamated	NO
16	U70109WB1995PTC072066	MARVEL ESTATES PRIVATE LIMITED	Director	12/06/1995	12/06/1995	11/06/2012	Active	NO
17	U70101WB1995PTC072236	MERLIN ESTATES PRIVATE LIMITED	Director	21/06/1995	21/06/1995	-	Amalgamated	NO
18	U70102WB1995PTC073270	RAGNAV PROPERTIES PRIVATE LIMITED	Director	01/08/1995	01/08/1995	-	Amalgamated	NO
19	U70102WB1995PTC073267	CLASSIC ENCLAVE PRIVATE LIMITED	Director	01/08/1995	01/08/1995	-	Active	NO
20	U70102WB1995PTC073269	UNIQUE ESTATES PRIVATE LIMITED	Director	01/08/1995	01/08/1995	-	Amalgamated	NO
21	U70101WB1995PTC075368	SHRISTI PROPERTIES PRIVATE LIMITED	Director	15/11/1995	15/11/1995	-	Amalgamated	NO
22	U70101WB1995PTC076188	PRIME NIKET PRIVATE LIMITED	Director	27/12/1995	27/12/1995	-	Amalgamated	NO
23	U70101WB1997PTC083104	SHREYA ENCLAVE PRIVATE LIMITED	Director	28/02/1997	28/02/1997	-	Amalgamated	NO
24	U70109WB1997PTC083105	SURYA NIWAS PRIVATE LIMITED	Director	28/02/1997	28/02/1997	-	Amalgamated	NO
25	U70109WB1997PTC083280	ARYA NIKET PRIVATE LIMITED	Director	11/03/1997	11/03/1997	-	Amalgamated	NO
26	U70200WB1997PTC083279	VATSAL NIKET PRIVATE LIMITED	Director	11/03/1997	11/03/1997	-	Amalgamated	NO
27	U24100WB1997PLC084645	QUAKER CHEMICALS INDIA LIMITED	Director	07/08/1997	07/08/1997	-	Active	NO
28	U70101WB1997PTC085736	SURYAKIRAN APARTMENT SERVICES PRIVATE LIMITED	Director	21/10/1997	21/10/1997	-	Active	NO
29	U70109WB1998PTC086361	SWASTIK NIKET PRIVATE LIMITED	Director	19/01/1998	19/01/1998	-	Amalgamated	NO
30	U45201WB1998PTC086417	STAR ENCLAVE PRIVATE LIMITED	Director	28/01/1998	28/01/1998	-	Amalgamated	NO
31	U70101WB1998PTC086481	SATYA ENCLAVE PRIVATE LIMITED	Director	05/02/1998	05/02/1998	-	Amalgamated	NO
32	U70200WB1998PTC086586	SAGAR NIKET PRIVATE LIMITED	Director	18/02/1998	18/02/1998	-	Amalgamated	NO
33	U18101WB1993PTC060800	INTER CRAFT APPARELS AND EXPORTS PRIVATE LIMITED	Director	11/05/1998	11/05/1998	-	Active	NO
34	U70101WB1995PLC073851	STORAGE TANKS OF INDIA LIMITED	Director	05/08/1998	05/08/1998	-	Strike off	NO
35	U45201WB1998PTC088146	SPARKLE NIKET PRIVATE LIMITED	Director	23/10/1998	23/10/1998	-	Active	NO
36	U70109WB1998PTC088147	STELLAR PROPERTIES PRIVATE LIMITED	Director	23/10/1998	23/10/1998	-	Active	NO
37	U65999WB1988PTC044801	MCALPINE FINANCE PRIVATE LIMITED	Director	20/11/1998	20/11/1998	07/04/2008	Active	NO
38	U35111WB1999PLC088768	ASIANOL SHIPPING LIMITED	Director	10/02/1999	10/02/1999	-	Active	NO
39	U70101WB1996PTC079790	ALCOVE CONSTRUCTION PRIVATE LIMITED	Director	01/03/1999	01/03/1999	25/08/2009	Active	NO
40	U15142WB1993PTC059609	SHIVA BUSINESSES PRIVATE LIMITED	Director	10/07/1999	10/07/1999	07/04/2008	Active	NO
41	U31909WB1988PTC044994	SHRI RADHE SALES AND SERVICES PRIVATE LIMITED	Director	10/07/1999	10/07/1999	07/04/2008	Active	NO
42	U51909WB1993PTC059849	GREENLAND TRADING PRIVATE LIMITED	Director	10/07/1999	10/07/1999	05/06/2008	Active	NO
43	U65999WB1988PTC045376	MIDEAST FINANCE PRIVATE LIMITED	Director	26/07/1999	26/07/1999	07/04/2008	Active	NO
44	U51909WB1993PTC059434	INDRAKSHI TRADING COMPANY PRIVATE LIMITED	Director	28/04/2000	28/04/2000	05/06/2008	Active	NO
45	U70109WB1998PTC088148	ALANKAR LOGISTICS PRIVATE LIMITED	Director	12/06/2001	12/06/2001	-	Active	NO
46	U70101WB1995PTC071452	SUNGLOW NIWASH PRIVATE LIMITED	Director	19/10/2001	19/10/2001	-	Amalgamated	NO
47	U70101WB1995PTC071453	SUNSHINE NIWASH PRIVATE LIMITED	Director	18/08/2003	18/08/2003	10/05/2012	Active	NO
48	U65922WB1994PTC061879	SOLOREX NIRMAN AND CREDIT PRIVATE LIMITED	Director	07/01/2004	07/01/2004	-	Active	NO
49	U70109WB1991PTC051550	SAFFRON ESTATES PRIVATE LIMITED	Director	07/01/2004	07/01/2004	-	Active	NO
50	U45203WB2004PLC098990	SUPER DIAMOND NIRMAN LIMITED	Director	30/06/2004	30/06/2004	-	Active	NO
51	U70109WB1961PLC024935	RATNAKAR BUILDINGS LIMITED	Director	22/11/2004	22/11/2004	29/04/2009	Active	NO
52	U51109WB1926PLC005287	STRAND PROPERTIES LIMITED	Director	25/01/2005	25/01/2005	-	Active	NO
53	U51909WB1996PTC078449	ARNAB VYAPAAR PRIVATE LIMITED	Director	25/04/2005	25/04/2005	-	Amalgamated	NO
54	U24299WB2005PTC103411	ASIANOL BIOTECH PRIVATE LIMITED	Director	27/05/2005	27/05/2005	-	Active	NO
55	U51909WB1996PTC079142	SHIRIN MERCHANTS PRIVATE LIMITED	Director	28/05/2005	28/05/2005	-	Amalgamated	NO
56	U51109WB1996PTC078598	MEGHA COMMODITIES PRIVATE LIMITED	Director	28/07/2005	28/07/2005	-	Amalgamated	NO
57	U51909WB1996PTC078582	PRAPTI COMMODITIES PRIVATE LIMITED	Director	12/08/2005	12/08/2005	-	Amalgamated	NO
58	U70101WB2005PLC104805	DIAMOND IT-LINK LIMITED	Director	18/08/2005	18/08/2005	-	Active	NO
59	U65922WB1994PTC061877	SEEYOK NIWAS AND NIVESH PRIVATE LIMITED	Director	04/11/2005	04/11/2005	-	Active	NO
60	U70101WB1995PTC072756	MEKHALA BUILDERS PRIVATE LIMITED	Director	16/12/2005	16/12/2005	11/06/2012	Active	NO
61	U70101WB1995PTC072771	WAVE DEVELOPERS PRIVATE LIMITED	Director	16/12/2005	16/12/2005	11/06/2012	Active	NO
62	U70101WB1996PTC076373	HIGHLAND PARK ENCLAVE PRIVATE LIMITED	Director	04/01/2006	04/01/2006	-	Active	NO
63	U70101WB2006PTC107367	SUNSHINE NIRMAN PRIVATE LIMITED	Director	18/01/2006	18/01/2006	-	Active	NO
64	U70101WB2006PTC107368	SNK PROPERTIES PRIVATE LIMITED	Director	18/01/2006	18/01/2006	-	Active	NO
65	U51109WB1996PTC077900	DELTA ABASAN PRIVATE LIMITED	Director	01/03/2006	01/03/2006	-	Amalgamated	NO
66	U70101WB1996PTC077890	CONCORD HOUSING PRIVATE LIMITED	Director	01/03/2006	01/03/2006	-	Amalgamated	NO
67	U70101WB1996PTC077892	ARONI PROPERTIES PRIVATE LIMITED	Director	01/03/2006	01/03/2006	-	Amalgamated	NO
68	U70101WB1996PTC077893	ALLIANCE HOUSING PRIVATE LIMITED	Director	01/03/2006	01/03/2006	-	Amalgamated	NO
69	U51109WB1996PTC077881	SUMEDHA HOUSING PRIVATE LIMITED	Director	01/03/2006	01/03/2006	-	Amalgamated	NO
70	U70101WB1996PTC077882	VSHA ABASAN PRIVATE LIMITED	Director	01/03/2006	01/03/2006	-	Amalgamated	NO
71	U45201WB1995PTC072250	UNMESH PROPERTIES PRIVATE LIMITED	Director	28/03/2006	28/03/2006	12/07/2008	Active	NO
72	U70109WB1995PTC071655	GAJADANTAYA PROPERTIES PRIVATE LIMITED	Director	25/10/2006	25/10/2006	11/06/2012	Active	NO
73	U45200WB2006PLC112015	DIAMOND ENCLAVE OWNERS LIMITED	Director	06/12/2006	06/12/2006	06/01/2009	Active	NO
74	U70109WB1998PTC088022	GREENTECH IT CITY PRIVATE LIMITED	Director	15/12/2006	15/12/2006	29/05/2012	Active	NO
75	U45400WB2007PTC116032	CHOWRINGHEE RESIDENCY PRIVATE LIMITED	Director	23/05/2007	23/05/2007	-	Active	NO
76	U45201WB2006PTC135329	MANDAKINI HOMES PRIVATE LIMITED	Director	14/07/2007	14/07/2007	-	Amalgamated	NO
77	U93090WB2007NPL118111	DIAMOND CITY NORTH RESIDENTS ASSOCIATION	Director	27/08/2007	27/08/2007	06/01/2011	Active	NO
78	U70109WB1987PTC043161	DIAMOND CORPORATE PARK DEVELOPERS PRIVATE LIMITED	Director	28/09/2007	28/09/2007	20/08/2009	Active	NO
79	U70109WB2008NPL125705	DIAMOND CITY SOUTH RESIDENTS ASSOCIATION	Director	14/05/2008	14/05/2008	11/06/2012	Active	NO
80	U55209WB1996PTC082227	RESURGENT HOTELS PRIVATE LIMITED	Director	25/08/2008	25/08/2008	-	Amalgamated	NO
81	U45201WB1987PTC042381	DELITE PROMOTERS PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
82	U70109WB1987PTC042993	CONCRETE BUILDERS PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
83	U34202WB1987PTC042994	GARDEN BUILDERS PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
84	U51909WB1992PTC056332	AASHUTOSH MERCHANDISE PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
85	U45201WB1991PTC053698	PIYUSH ENCLAVE PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
86	U70109WB1987PTC042977	SLAB CONSTRUCTION PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
87	U65999WB1991PLC051526	S P A LEASE AND FINANCE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
88	U51909WB1992PTC055288	SJB CONTRADE PVT LTD.	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
89	U51109WB1992PTC056640	GLOMAX COMMERCIAL PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Amalgamated	NO
90	U01132WB1990PLC050044	S.P.A. TEA LIMITED	Director	02/04/2009	02/04/2009	-	Amalgamated	NO
91	U67120WB1990PLC049651	STB LEASING AND FINANCE LIMITED	Director	02/04/2009	02/04/2009	-	Amalgamated	NO
92	U70101WB2006PTC107536	AMBA HIGHRISE PRIVATE LIMITED	Additional director	27/01/2011	27/01/2011	11/06/2012	Active	NO
93	U70101WB1998PTC088145	SKYLAND ESTATES PRIVATE LIMITED	Director	13/09/2012	04/06/2012	-	Active	NO
94	U51909WB1993PTC061187	DHRUVA MERCHANDISE PRIVATE LIMITED	Director	13/09/2012	04/06/2012	-	Active	NO

Name :

D Jeffry Benoliel

Designation :

Director

Address :

520 E Gravers Lane, Wyndmoor Pa Media USA 19038

Date of Birth/Age :

10.09.1958

Date of Appointment :

07.08.1997

DIN No.:

02396047

Name :

Johannes Franciscus Nieman

Designation :

Director

Address :

Bredeerdelaan 10 Beverwijk 1941 Nederlands 1941

Date of Birth/Age :

03.02.1961

Date of Appointment :

01.01.2004

DIN No.:

02458409

Name :

Mr. Ramendra Lal Auddy

Designation :

Alternate director

Address :

1 Auckland Square, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

22.12.1951

Date of Appointment :

09.09.2007

DIN No.:

00272953

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	U24100WB1997PLC084645	QUAKER CHEMICALS INDIA LIMITED	Alternate director	09/09/2007	17/10/1997	Active	NO
2	U24291MH1923PLC001082	WIMCO LIMITED	Director	01/07/2005	01/07/2005	Active	NO
3	U45203WB2006PLC111364	BENGAL MULTIPLE HOUSING DEVELOPMENT LIMITED	Director	27/07/2011	31/01/2007	Active	NO
4	U65922WB1988PLC044915	P S GROUP REALTY LIMITED	Director	20/03/2007	20/03/2007	Active	NO
5	U45202WB2003NPL096324	CALCUTTA PROMOTIONS	Director	30/09/2010	28/03/2010	Active	NO
6	U29196WB1986PTC040670	ADAMS ELEVATOR COMPANY PRIVATE LIMITED	Director	17/09/2011	17/09/2011	Active	NO
7	U26102WB1972PLC028352	INDOBELL INSULATIONS LIMITED	Director	01/08/2012	01/08/2012	Active	NO

Name :

Mr. Michael Francis Barry

Designation :

Director

Address :

549S Heilborn Drive, Media PA USA 19063

Date of Birth/Age :

14.04.1958

Date of Appointment :

01.10.2008

DIN No.:

02454689

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 17.08.2012

Names of Shareholders	No. of Shares
Sheo Kumar Kajaria	100
Gulshan Kumar Sachdev	100
Vivek Kumar Kajaria	100
Ramendra Lal Auddy	100
Asha Rani Kajaria	100
Rekha Sachdev	100
Asianol Lubricants Limited, India	449500
Quaker Chemical Corporation USA, Pennsylvania	549900
Total	1000000

AS ON 17.08.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	54.99
Bodies corporate	44.95
Directors or relatives of directors	0.06
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Marketing of Industrial Lubricants such as Semi-Synthetic and Synthetic Rolling Lubricants and Chemical Specialities, Fire Resistant Hydraulic Fluids, Corrosion Preventives, Metal Working Fluids, etc.

Products :

ITC Code No.:	Product Description
334.52	Semi-Synthetic and Synthetic Rolling Lubricants and Chemical Specialities, Fire Resistant Hydraulic Fluids, Corrosion Preventives, Metal Working Fluids

Steel Industries

· Caster Lubricants

· Roll Bite Lubrication for Hot Strip Mill

· Cold Rolling Oil

· Electrolytic Cleaners

· Wet temper fluids

· Rust Preventive Oils

· Maintenance cleaners

Speciality Metalworking Industry

· Machining and Grinding Fluids

· Drawing and stamping fluids

· Corrosion Preventives

· Industrial Cleaners

· Coatings for tube and pipe industry

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production (Quantity)
Rolling Lubricants	MT	Not Applicable	Not Applicable	5228.50
Metalworking	MT	Not Applicable	Not Applicable	1416.63

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	ICICI Bank Limited, Rasoi Court, 20 R N Mukherjee Road, Kolkata – 700001, West Bengal, India

Banking Relations :	--
Auditors :
Name :	L B Jha and Company Chartered Accountants
Address :	GF-1, Gillander House, 8, Netaji Subhas Road, Kolkata – 700001, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	AABFL0464G
Holding Company :	Quaker Chemical Corporation USA
Associate :	Asianol Lubricants Limited
Fellow Subsidiaries :	Ø Quaker Chemical (China) Company Limited Ø Quaker Chemical B.V., The Netherlands Ø Quaker Chemical S.A, Spain Ø Nippon Quaker Chemical Limited Ø Quaker Chemical Limited (UK) Ø Quaker Chemical Industra E, Commercio LTDA , Brazil Ø Quaker Chemical Limited (Hong Kong)

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 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		10.000	10.000	10.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		387.627	306.434	229.687
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		397.627	316.434	239.687
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		4.429	6.420	4.435
TOTAL		402.056	322.854	244.122
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		52.069	53.854	54.168
Capital work-in-progress		0.000	0.000	0.109
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	126.621	135.490	65.461
	Sundry Debtors	233.196	188.996	148.986
	Cash & Bank Balances	51.663	35.193	22.469
	Other Current Assets	5.973	9.774	4.501
	Loans & Advances	60.158	40.619	36.731
Total Current Assets		477.611	410.072	278.148
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	86.971	105.961	56.337
	Other Current Liabilities	37.534	31.546	18.242
	Provisions	3.119	3.565	13.724
Total Current Liabilities		127.624	141.072	88.303
Net Current Assets		349.987	269.000	189.845
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		402.056	322.854	244.122

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	919.839	809.086	560.302
		Other Income	15.249	21.911	10.425
		Service Income	15.899	11.352	9.746
		TOTAL (A)	950.987	842.349	580.473
Less	EXPENSES
		Materials	582.240	450.138	359.135
		Expenses	241.970	232.002	166.151
		TOTAL (B)	824.210	682.140	525.286
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		126.777	160.209	55.187
Less	FINANCIAL EXPENSES (D)		0.275	0.653	0.777
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		126.502	159.556	54.410
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.700	5.923	5.253
	PROFIT BEFORE TAX (E-F) (G)		120.802	153.633	49.157
Less	TAX (H)		39.609	53.486	14.100
	PROFIT AFTER TAX (G-H) (I)		81.193	100.147	35.057
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		269.622	212.905	193.054
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	20.030	3.506
		Interim Dividend	0.000	20.000	10.000
		Tax on Dividend	0.000	3.400	1.700
	BALANCE CARRIED TO THE B/S		350.815	269.622	212.905
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	56.890	66.992	34.243
	IMPORTS
		Capital Goods	1.501	2.889	2.116
		Raw Materials	160.864	184.700	95.823
		Trading Goods	27.945	22.442	25.030
	TOTAL IMPORTS		190.310	210.031	122.969
	Earnings Per Share (Rs.)		81.19	100.15	35.06

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	8.54	11.89	6.04
Net Profit Margin (PBT/Sales)	(%)	13.13	18.99	8.77
Return on Total Assets (PBT/Total Assets}	(%)	22.81	33.12	14.79
Return on Investment (ROI) (PBT/Networth)		0.30	0.49	0.21
Debt Equity Ratio (Total Liability/Networth)		0.32	0.45	0.37
Current Ratio (Current Asset/Current Liability)		3.74	2.91	3.15

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	No
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	No
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	No
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	No

BUSINESS PERFORMANCE:

This year the company achieved a total sales revenue of Rs. 919.839 Millions, a growth of 11% over the last year. However, profit before tax for the year has decreased to Rs. 120.802 Millions from Rs. 153.632 Millions, a decrease of 21% over the last year mainly due to sharp increase in prices of mineral oil (25%) and vegetable oil (30%). Reserve and Surplus now stand increased to Rs. 387.627 Millions.

Steel Business: The Steel Business could retain all its Customers despite fierce competition. Price increases were obtained. The steel business grew to Rs. 764.402 Millions in 2010-11 against Rs. 727.576 Millions in 2009-10, an increase of 5% over 2009-10. Export turnover has reduced by Rs. 10.102 Millions. The Company continues to enjoy around 65% share of the Indian Cold Rolling Steel and 100% in Hot Rolling Steel market that has been possible through sustained efforts of a dedicated team.

Metal Working Business: The Metal Working business has shows a remarkable 64% growth of sales from Rs. 153.911 Millions in 2009-10 to Rs. 252.799 Millions in 2010-11. Indian MW market offers good scope for expansion and the Company aims to cater to Industrial segment as well as the Automobile industry with its MW range of value added products through direct sales as well as through VARs. There has been substantial growth reach in domestic market, through placement of engineers at strategic locations, across the country.

Exports: During the year the Company achieved exports of Rs. 56.890 Millions.

CONTINGENT LIABILITIES:

(Rs. in millions)

Contingent liability on account of-	31.03.2011	31.03.2010
Disputed Central Sales Tax Value Added Tax demands*	82.329	73.828
Disputed Customs Duty demands*	0.678	0.678

FIXED ASSETS:

Tangible assets:

Ø Plant and Machinery

Ø Furniture and Fixture

Ø Office Equipment

Ø Vehicles

Intangible assets:

Ø Software-Acquired

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 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. 54.99
UK Pound	1	Rs. 87.21
Euro	1	Rs. 70.22

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.