MIRA INFORM REPORT

Report Date :

17.11.2012

IDENTIFICATION DETAILS

Name :	WELLKNOWN POLYESTERS LIMITED
Registered Office :	14^th Floor, “B” Wing, Nirmal, 241/242, Backbay Reclamation, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.10.1996
Com. Reg. No.:	11-103477
Capital Investment / Paid-up Capital :	Rs.144.945 Millions
CIN No.: [Company Identification No.]	U17114MH1996PLC103477
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Texturised and Polyester Yarns.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 13645000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of Wellknown Group. It is the biggest manufacturer of Air Textured yarn in India. It is well an established and reputed company having good track. Fundament seems healthy and strong. Financially company performance appears good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered for normal 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	September, 2012

Rating Agency Name	CARE
Rating	A2+ (Short Term Bank Facilities)
Rating Explanation	Strong degree of safety and low credit risk.
Date	September, 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.

INFORMATION PARTED BY

Name :	Mr. Anil
Designation :	Accounts Head
Contact No.:	91-22-66207000

LOCATIONS

Registered Office/ Corporate Office :	14^th Floor, “B” Wing, Nirmal, 241/242, Backbay Reclamation, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22070054/ 66207000
Fax No.:	91-22-22070054/ 66207050
E-Mail :	wtil@vsnl.com info@welknown.net.in
Website :	http://www.wellknownpolyester.com http://www.wellknowntextile.com
Factory:	Plot No.178, 185, Dabhel Industrial Co-operative Society Limited, Nani Daman, Daman – 396 210, India
Branch Office :	Located at: v Surat
Tel No.:	91-261-3255945
Fax No.:	91-261-3927155

DIRECTORS

As on 30.09.2011

Name :

Mr. Anil Madanlal Gupta

Designation :

Managing Director

Address :

9/41, Joothica Building, Sleater Road, Greater Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

01.09.1964

Date of Appointment :

01.04.2012

DIN No.:

01376458

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	U17110MH1987PTC043355	WELLKNOWN TEXTILE INDUSTRIES PRIVATE LIMITED	Director	05/05/1987	05/05/1987	-	Active	NO
2	U70109MH1995PTC091597	WELLKNOWN HITECH PROJECTS PRIVATE LIMITED	Director	09/08/1995	09/08/1995	-	Active	NO
3	U17114MH1996PLC103477	WELLKNOWN POLYESTERS LIMITED	Managing director	01/04/2012	23/10/1996	-	Active	NO
4	U17110MH1997PTC110093	WELLKNOWN SYNTHETICS PRIVATE LIMITED	Director	14/08/1997	14/08/1997	-	Active	NO
5	U65990MH1997PTC107165	WELLKNOWN CHEMICALS PRIVATE LIMITED	Director	26/11/1998	26/11/1998	-	Active	NO
6	U80220MH2005PTC154131	WELLKNOWN TECHNOLOGIES PRIVATE LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
7	U70102MH2009PTC193678	WELLKNOWN HOUSING DEVELOPMENT PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
8	U63090MH2009PTC198059	WELLKNOWN LOGISTICS PRIVATE LIMITED	Director	22/12/2009	22/12/2009	-	Active	NO
9	U70102MH2009PTC198230	WELLKNOWN LANDMARK VENTURES PRIVATE LIMITED	Director	31/12/2009	31/12/2009	-	Active	NO
10	U17120MH1972GAT016028	ASSOCIATION OF SYNTHETIC FIBRE INDUSTRY	Nominee director	17/05/2010	17/05/2010	-	Active	NO
11	U70102MH2010PTC207508	WELLKNOWN INFRATECH PRIVATE LIMITED	Director	08/09/2010	08/09/2010	-	Active	NO
12	U70102MH2010PTC207736	WELLKNOWN PROPERTIES PRIVATE LIMITED	Director	16/09/2010	16/09/2010	-	Active	NO
13	U70102MH2012PLC233788	GUPTA VILLA LIMITED	Director	25/07/2012	25/07/2012	-	Active	NO

Name :

Mr. Ashok Madanlal Gupta

Designation :

Whole Time Director

Address :

2/7, Joothica Building, Sleater Road, Greater Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

30.09.1959

Date of Appointment :

01.10.2010

DIN No.:

01510569

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	U17110MH1987PTC043355	WELLKNOWN TEXTILE INDUSTRIES Private LIMITED	Director	30/03/1992	30/03/1992	-	Active	NO
2	U70109MH1995PTC091597	WELLKNOWN HITECH PROJECTS PRIVATE LIMITED	Director	09/08/1995	09/08/1995	-	Active	NO
3	U17114MH1996PLC103477	WELLKNOWN POLYESTERS LIMITED	Whole-time director	01/10/2010	23/10/1996	-	Active	NO
4	U17110MH1997PTC110093	WELLKNOWN SYNTHETICS PRIVATE LIMITED	Whole-time director	01/08/2010	14/08/1997	-	Active	NO
5	U65990MH1997PTC107165	WELLKNOWN CHEMICALS PRIVATE LIMITED	Director	26/11/1998	26/11/1998	-	Active	NO
6	U80220MH2005PTC154131	WELLKNOWN TECHNOLOGIES PRIVATE LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
7	U70102MH2009PTC193678	WELLKNOWN HOUSING DEVELOPMENT PRIVATE LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO
8	U63090MH2009PTC198059	WELLKNOWN LOGISTICS PRIVATE LIMITED	Director	22/12/2009	22/12/2009	-	Active	NO
9	U70102MH2009PTC198230	WELLKNOWN LANDMARK VENTURES PRIVATE LIMITED	Director	31/12/2009	31/12/2009	-	Active	NO

Name :

Mrs. Latadevi M Gupta

Designation :

Director

Address :

9/41, Joothica Building, Sleater Road, Greater Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

12.01.1939

Date of Appointment :

29.09.2009

DIN No.:

02489852

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	U70109MH1995PTC091597	WELLKNOWN HITECH PROJECTS PRIVATE LIMITED	Additional director	11/12/2008	11/12/2008	31/03/2009	Active	NO
2	U17110MH1987PTC043355	WELLKNOWN TEXTILE INDUSTRIES PRIVATE LIMITED	Additional director	11/12/2008	11/12/2008	31/03/2009	Active	NO
3	U17114MH1996PLC103477	WELLKNOWN POLYESTERS LIMITED	Director	29/09/2009	11/12/2008	-	Active	NO
4	U70102MH2010PTC207508	WELLKNOWN INFRATECH PRIVATE LIMITED	Director	08/09/2010	08/09/2010	01/10/2010	Active	NO
5	U70102MH2010PTC207736	WELLKNOWN PROPERTIES PRIVATE LIMITED	Director	16/09/2010	16/09/2010	01/10/2010	Active	NO
6	U17120MH1994PLC080756	PERFECT FILAMENTS LIMITED	Director	30/09/2011	02/05/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Anil
Designation :	Accounts Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Equity Shareholders	No. of Shares
Anil Kumar Gupta	2407419
Charulata Gupta	1121157
Madanlal Gupta, Karta Madanlal Gupta- HUF	38860
Ashok Kumar Gupta Karta Ashok Kumar Gupta HUF	37607
Anil Gupta, Karta Anil Gupta HUF	123776
Latadevi Gupta	542
Rahul A. Gupta, NG Anil Gupta	1288560
Saakshi A. Gupta Ng. Ashok Kumar Gupta	21310
Wellknown Hitech Projects Private Limited, India	53049
Wellknown Textiles Industries Private Limited, India	5913907
Wellknown Technologies Private Limited, India	1205208
Total	12211395

Names of Preference Shareholders	No. of Shares
Anil Kumar Gupta	1377
Charulata Gupta	245
Madanlal Gupta, Karta Madanlal Gupta- HUF	269
Ashok Kumar Gupta Karta Ashok Kumar Gupta HUF	103
Rahul A. Gupta, NG Anil Gupta	633
Saakshi A. Gupta Ng. Ashok Kumar Gupta	435
Wellknown Textiles Industries Private Limited, India	55000
Anil Kumar Gupta Karta Anil Kumar Gupta	60
Wellknown Technologies Private Limited, India	167939
Total	226061

As on 31.03.2012

Names of Preference Shareholders (Allottees)	No. of Shares
Wellknown Textiles Industries Private Limited, India	200000
Total	200000

As on 30.09.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	58.73
Directors or relatives of Directors	41.27
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Texturised and Polyester Yarns.

Products :

Product Description	ITC Code
Polyester Yarn	5402

Brand Names :

v “WELLKNOWN”

v “NEW WAYS”

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity
Texturised Yarn*	MT	17936
Twisted Yarn*	MT	7472
Fully Drawn Yarn #	MT	232

Particulars	Unit	Production
Installed Capacity Polyester Filament Yarns
Texturised/ Twisted Yarn	MT	60484.573
Partially Oriented Yarn	MT	19715.436
Fully Drawn Yarn	MT	41587.901
Polyesters Chips	MT	29998.882

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

v The Shamrao Vithal Co-operative Bank Limited, Sleater Road Branch, Mumbai – 400 007, Maharashtra, India

v Indian Overseas Bank, Nariman Point Branch, Bakhtwar, Nariman Point, Mumbai – 400 021, Maharashtra, India

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans secured
Rupee term loans banks secured	2608.839	2621.327
Foreign currency loans secured
Foreign currency loans banks secured	2283.202	2757.603
Working capital loans secured
Working capital loans banks secured	1117.108	724.640
Loans taken for fixed assets secured
Loans taken for vehicles secured	1.021	0.000
Total	6010.170	6103.570
Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Loans directors unsecured	0.000	1.351
Total	0.000	1.351
The Shamrao Vithal Co-operative Bank Limited Cash Credit Limit Rs.4800.000 Millions

Banking Relations :	--
Auditors :
Name :	Mittal and Associates Chartered Accountants
Address :	105, M K Bhavan, 300, S.B.S. Marg, Fort, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-30287901/ 2/ 3
E-Mail :	mm@mittal-associate.com
PAN No.:	AAAFM9559Q
Subsidiaries :	Wellknown Synthetics (Private) Limited (CIN No.: U17110MH1997PTC110093)
Associates :	v Wellknown Textile Industries (Private) Limited (CIN No.: U17110MH1987PTC043355) v Wellknown Housing Development Private Limited (CIN No.: U70102MH2009PTC193678) v Wellknown Chemicals (Private) Limited v Wellknown Hitech Projects Private Limited (Formerly known as Wellknown Financial Securities Private Limited). v Wellknown Technologies Private Limited v Wellknown Logistics Private Limited v Wellknown Landmark Ventures Private Limited v Wellknown Infratech Private Limited v Wellknown Properties Private Limited

CAPITAL STRUCTURE

After 30.09.2011

Authorised Capital : Rs.200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12211395	Equity Shares	Rs.10/- each	Rs.122.114 Millions
426061	Preference Shares	Rs.100/- each	Rs.42.606 Millions
	Total		Rs.164.720 Millions

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
13500000	Equity Shares	Rs.10/- each	Rs.135.000 Millions
400000	Preference Shares	Rs.100/- each	Rs.40.000 Millions
	Total		Rs.175.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12211395	Equity Shares	Rs.10/- each	Rs.122.114 Millions
226061	Preference Shares	Rs.100/- each	Rs.22.606 Millions
	Total		Rs.144.720 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
13500000	Equity Shares	Rs.10/- each	Rs.135.000 Millions
400000	Preference Shares	Rs.100/- each	Rs.40.000 Millions
	Total		Rs.175.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12211395	Equity Shares	Rs.10/- each	Rs.122.114 Millions
228311	Preference Shares	Rs.100/- each	Rs.22.831 Millions
	Total		Rs.144.945 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		144.945	135.643	120.033
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3266.277	2221.234	1444.954
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3411.222	2356.877	1564.987
LOAN FUNDS
1] Secured Loans		6010.170	6103.570	3162.349
2] Unsecured Loans		0.000	1.351	1.868
TOTAL BORROWING		6010.170	6104.921	3164.217
DEFERRED TAX LIABILITIES		697.565	423.691	222.893
TOTAL		10118.957	8885.489	4952.097
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6992.515	5430.567	2740.078
Capital work-in-progress		140.597	1241.378	828.558
INVESTMENT		193.302	161.884	161.885
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1908.902	898.595	314.583
	Sundry Debtors	710.941	377.969	275.873
	Cash & Bank Balances	1287.467	910.686	358.276
	Other Current Assets	190.207	88.478	0.000
	Loans & Advances	1232.157	579.971	455.107
Total Current Assets		5329.674	2855.699	1403.839
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	324.017	257.569	129.493
	Other Current Liabilities	1794.258	372.605	14.932
	Provisions	418.856	173.865	37.838
Total Current Liabilities		2537.131	804.039	182.263
Net Current Assets		2792.543	2051.660	1221.576
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		10118.957	8885.489	4952.097

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	13283.336	6596.504	3545.424
		Other Income	116.395	174.764	89.519
		TOTAL (A)	13399.731	6771.268	3634.943
Less	EXPENSES
		Consumption Materials Changes Inventories	9204.364	4622.617	2421.981
		Manufacturing Expenses	1586.243	892.019	453.619
		Employees Related Expenses	244.434	125.838	69.281
		Administrative, Selling and Other Expenses	166.331	80.454	64.519
		Prior Period Items	1.809	0.091	1.478
		( Increase / Decrease In Stock)	0.000	0.000	10.239
		TOTAL (B)	11203.181	5721.019	3021.117
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2196.550	1050.249	613.826
Less	FINANCIAL EXPENSES (D)		387.205	242.638	130.838
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1809.345	807.611	482.988
Less/ Add	DEPRECIATION/ AMORTISATION (F)		345.636	195.463	99.371
	PROFIT BEFORE TAX (E-F) (G)		1463.709	612.148	383.617
Less	TAX (H)		394.301	203.512	95.711
	PROFIT AFTER TAX (G-H) (I)		1069.408	408.636	287.906
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		893.625	564.684	329.853
Less	APPROPRIATIONS
		Transfer to General Reserve	27.500	30.000	28.250
		Dividend	1.404	0.056	0.187
		Tax on Dividend	8.454	8.454	9.310
		Capital Redemption Reserve	9.292	1.705	0.228
		Preference Share Redemption Reserve	243.838	39.480	15.100
	BALANCE CARRIED TO THE B/S		1672.545	893.625	564.684
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1794.442	343.824	401.871
		Compensation	0.000	73.993	0.000
	TOTAL EARNINGS		1794.442	417.817	401.871
	IMPORTS
		Capital Goods	51.780	1985.476	578.253
		RM / Stores	3769.371	1351.234	34.795
	TOTAL IMPORTS		3821.151	3336.710	613.048
	Earnings Per Share (Rs.)		85.83	35.62	28.49

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	7.98	6.03	7.61
Net Profit Margin (PBT/Sales)	(%)	11.02	9.28	10.32
Return on Total Assets (PBT/Total Assets}	(%)	11.88	7.39	9.72
Return on Investment (ROI) (PBT/Networth)		0.43	0.26	0.25
Debt Equity Ratio (Total Liability/Networth)		2.71	3.11	2.14
Current Ratio (Current Asset/Current Liability)		2.10	3.55	7.70

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	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	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	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	Yes

Note

The Registered office of the company has been shifted from 46, Swadeshi Market, First Floor, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India to the present address w.e.f. 02.04.2007.

FINANCIAL PERFORMANCE

In line with the expectations of the Management of the Company, the turnover and profitability of the Company has jumped by leaps and bounds. The Company recorded a turnover of Rs.14042.300 Millions (Rs.6762.169 Millions). Profit for the Year has shot up to Rs.1463.709 Millions (Rs.612.148 Millions) and Profit after Tax shot up to Rs.1069.408 Millions (Rs.408.637 Millions).

EXPORTS

During the year Company’s exports touched Rs.2008.900 Millions (Rs.362.837 Millions). Efforts are on to boost export earnings of the Company. Company’s exports diversified to various American, African and Asian countries. Efforts are on to enhance geographical horizons of the Exports. Various blueprints and plans have been chalked out, benefits of which could be reaped in the years to come.

CONTINGENT LIABILITIES NOT PROVIDED FOR: (AS ON 31.03.2011)

a) Bank Guarantee of Rs.45.109 Millions (P.Y. Rs.23.669 Millions) taken against Fixed Deposit of Rs.9.159 Millions (P.Y. Rs.8.761 Millions).

b) Outstanding Letter of Credit of Rs.388.018 Millions. (PY Rs.100.270 Millions)

c) The Company has imported certain machineries under EPCG Scheme. The Company is under obligation to export Texturised Yarn 8 time of duty saved within a period of 8 years from the date of respective licenses. Total duty saved amounting to Rs.834.497 Millions (P.Y. Rs.790.339 Millions) and for this the company is under obligation to export goods amounting to Rs.6675.976 Millions (P.Y. Rs.6322.715 Millions). The company has fulfilled the export obligation amounting to Rs.2645.474 Millions (P.Y. Rs.860.597 Millions).

FORM 8

Corporate identity number of the company	U17114MH1996PLC103477
Name of the company	WELLKNOWN POLYESTER LIMITED
Address of the registered office or of the principal place of business in India of the company	Nirmal, B Wing, 14^th Floor, 241/242 Backbay Reclamation, Nariman Point, Mumbai – 400 021, Maharashtra, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	10277722
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge Others
Particular of charge holder	Indian Overseas Bank, Nariman Point Branch, Bakhtwar, Nariman Point, Mumbai – 400 021, Maharashtra, India
Nature of instrument creating charge	Letter of Hypothecation Term Loan Agreement (Both Agreement Dated 17.09.2012) All other terms and conditions as per sanction letter Adv/1513/2012-13 Dated 07.09.2012 Adv/1546/2012-13 Dated 14.09.2012
Date of instrument Creating the charge	17.09.2012
Amount secured by the charge	Rs.2650.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Term Loan: BR + 2.50% p.a. (i.e.) 13% p.a. Presently. Interest to be reset annually Sub limit - LC : 50% of the applicable charges Terms of repayment The new T L of 1650.000 Millions will be repaid in 36 equal quarterly installments after a moratorium period of 2 years from the date of first disbursement. Interest to be serviced separately during holiday period and thereafter as and when due. 35 installments of Rs.45.800 Millions and last installment of Rs. 47.000 Millions. Installment starts from December 2014 to September 2023. Margin Term loan : 32.25 %, sub-limit: 10 % in form of RDP The overall margin comes to 32.25% including margin for working capital of Rs 360.000 Millions Extent and operation of the charge The charge is to operate as security for the due repayment of the credit facility of Rs.2650.000 Millions together with interests, additional interest, costs, charges, expenses and all other moneys payable by the company to the bank from time to time in terms of sanction. Other Facility : -------------- Term Loan I: Rs.1000.000 Millions (Reduced By 550.000 Millions) Term Loan II: Rs.1650.000 Millions Sub Limit : LC : (Rs.1000.000 Millions)
Short particulars of the property charged (Including location of the property)	First Paripassu Charge on Company's Fixed Assets of the Company (Immovable and Movable) excluding Plant and Machinery exclusively financed by LBBW Germany Second Charge on entire current assets of the company on paripassu basis with other term loan lenders Fixed Deposits with accrued interest face value of Rs.10.200 Millions lying with State Bank of India on first Paripassu Basis with Other Term Loan and Working Capital Lenders
Particulars of the present modification	By this present modification , term loan i reduced from 1550.000 Millions to 1000.000 millions and new term loan limit of Rs.1650.000 millions sanctioned on terms and conditions mentioned in Sanction Letter Adv/1513/2012-13 Dated 07.09.2012 Adv/1546/2012-13 Dated 14/09/2012. Now The Total Term Loan Limit stands at Rs.2650.000 Millions.

FIXED ASSETS:

v Land Freehold

v Building

v Plant and Machinery

v Motor Vehicle

v Office Equipment

v Furniture and Fixtures

v Computers

v Computer Software

v Trade Mark

WEBSITE DETAILS:

GROUP PROFILE

Wellknown Group was formed in the year 1987 with the formation of Wellknown Textile Industries Limited (WTIL). Subject was promoted by WTIL in the year 1996. Wellknown Synthetics Limited (WSL) was incorporated in the year 1997 as a wholly owned subsidiary of subject.

The Group has been growing at a rapid pace since its inception. The consolidated turnover has increased from Rs.130.000 millions in FY97-98 to Rs.8000.000 millions (USD 175 million) in FY 09-10. The turnover is expected to cross Rs.15000.000 millions (USD 330 million) in FY 11-12.

PROFILE:

They are among the Top 5 fully integrated manufacturers of PFY in India, and also one of the fastest growing in the industry. They offer the following products:-

v Draw Textured Yarn (DTY)

v Air Textured Yarn (ATY)

v Twisted Polyester Yarn

v Fully Drawn Yarn (FDY)

v Partially Oriented Yarn (POY)

v Polyester Chips

They are the biggest manufacturer of ATY, and among the Top 3 manufacturers of FDY in India.

They have a modern manufacturing facility, with the latest Oerlikon Barmag technology for Continuous Polymerization (CP), POY and FDY. They also operate a large number of modern Texturising and Twisting machines.

They market their products under the brand names “WELLKNOWN” and “NEW WAYS”.

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

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--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		54

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.