MIRA INFORM REPORT

Report Date :

26.11.2012

IDENTIFICATION DETAILS

Name :	INDO COUNT INDUSTRIES LIMITED
Registered Office :	Village Alte, Taluka Hatkanangale, Kolhapur – 416109, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.11.1988
Com. Reg. No.:	11-068972
Capital Investment / Paid-up Capital :	Rs.354.816 Millions
CIN No.: [Company Identification No.]	L72200PN1988PLC068972
TAN No.: [Tax Deduction & Collection Account No.]	KLPI00337B
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer and Exporter of Cotton Yarn and Knitted Fabrics
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 6900000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The latest financial of the company are not made available. As per previous years, there appears some accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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	Short Term Bank Facilities = D
Rating Explanation	Default or expected to be in default
Date	15.05.2012

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = D
Rating Explanation	Default or expected to be in default
Date	15.05.2012

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 :	Village Alte, Taluka Hatkanangale, Kolhapur - 416109, Maharashtra, India
Tel No. :	91-220-2488105
Fax No.:	91-220-2488275
E-Mail :	smokashi@indocount.com info@indocount.com cottonyarn@indocount.com mshanbhag@indocount.com
Website :	www.indocount.com
Spinning and Electronic Units :	D-1, MIDC Industrial Area, Gokul Shirgaon, Kolhapur - 416 234, Maharashtra, India
Tel No. :	91-231-2672291 / 92
Fax No.:	91-231-2672161
Home Textile and Consumer Durable Goods Units :	T - 3, Kagal - Hatkanangle, Five Star MIDC Area, At Post : Talandge, Taluka : Hatkanangale Kolhapur - 416 216, Maharashtra, India
Head Office :	301 and 1101, Arcadia, Nariman Point, Mumbai - 400021, Maharashtra, India
Tel. No.:	91-22-43419500 / 41511800 / 56306024 / 22856534
Fax No.:	91-22-22823098 / 22041028
Marketing Office :	# 23-25, Vardhaman Industrial Complex, Gokul Nagar, Thane (West) - 400601, Maharashtra, India
Branch Office :	Located At: · Delhi · Kolkata

DIRECTORS

As on 31.03.2011

Name :

Mr. Anil Kumar Jain

Designation :

Chairman And Managing Director

Address :

Frn. 5, Grand Paradi Apartment, August Karnti Narg, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

09.05.1953

Date of Appointment :

01.04.2011

PAN No.:

[Permanent Account No.]

AAGP1275IF

DIN No.:

00086106

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	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Managing director	01-04-11	22-08-90	-	Active	NO
2	L65910MH1991PLC080534	MARGO FINANCE LIMITED	Director	18-10-91	18-10-91	-	Active	NO
3	U74899DL1993PTC053056	RINI INVESTMENT AND FINANCE PRIVATE LIMITED	Director	06-10-93	06-10-93	21-08-08	Active	NO
4	U17120MH1997PLC104966	GARUDA COTEX SHADES LIMITED	Director	17-11-97	17-11-97	22-06-07	Active	NO
5	L51909WB1991PLC053283	KANCO ENTERPRISES LIMITED	Director	27-10-99	27-10-99	28-12-11	Active	NO
6	L17119PN1990PLC058139	PRANAVADITYA SPINNING MILLS LIMITED	Additional director	31-07-07	31-07-07	-	Active	NO
7	L31909DN1993PLC000056	SARLA PERFORMANCE FIBERS LIMITED	Director	29-09-11	09-12-10	-	Active	NO

Name :

Mr. Ravindranath Babu Shree Nath Gupta

Designation :

Joint Managing Director

Address :

9, Smoky Hill, 44, Oalimala Road, Bandra (West), Mumbai – 400055, Maharashtra, India

Date of Birth/Age :

09.05.1933

Date of Appointment :

01.01.2011

PAN No.:

[Permanent Account No.]

AACPG2894G

DIN No.:

00865491

Name :

Mr. Pradyumna Natvarlal Shah

Designation :

Director

Address :

Shantiniketan, 5^th Floor, Block No,51-52, Plot No.96, Prabhat Colony, Santacruz (West), Mumbai – 400055

Date of Birth/Age :

01.01.1929

Date of Appointment :

30.09.1992

PAN No.:

[Permanent Account No.]

AABPS3192C

DIN No.:

00096793

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	L24211RJ1946PLC000469	PI INDUSTRIES LIMITED	Director	07-09-90	07-09-90	-	Active	NO
2	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Director	30-09-92	30-09-92	-	Active	NO
3	L99999MH1965PLC013392	TAPARIA TOOLS LIMITED	Director	12-01-96	12-01-96	-	Active	NO
4	U74899RJ1987PLC029106	SECURE METERS LIMITED	Director	18-08-97	18-08-97	-	Active	NO
5	U36007MH1992PLC066759	LIPI DATA SYSTEMS LIMITED	Director	15-05-98	15-05-98	01-04-11	Active	NO
6	U29299RJ1971PLC001379	WOLKEM INDIA LIMITED	Director	28-09-02	28-09-02	-	Active	NO
7	U65992MH2003PTC139955	LIC NOMURA MUTUAL FUND TRUSTEE COMPANY PRIVATE LIMITED	Director	21-12-03	21-12-03	08-03-11	Active	NO
8	L17119PN1990PLC058139	PRANAVADITYA SPINNING MILLS LIMITED	Additional director	31-07-07	31-07-07	-	Active	NO

Name :

Mr. Sushil Kumar Jiwarajka

Designation :

Director

Address :

Aritheon Electronics Limited, 201, Sumer Kendra, Pandurang Budhkar Marg, Worli, Mumbai 400018

Date of Birth/Age :

26.11.1956

Date of Appointment :

29.09.1999

PAN No.:

[Permanent Account No.]

ACVPJ3726D

DIN No.:

00016680

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	L74899DL1968PLC004962	SALORA INTERNATIONAL LIMITED	Managing director	28-11-77	28-11-77	01-07-07	Active	NO
2	U74899DL1973PTC006464	VIDEO ELECTRONICS PRIVATE LIMITED	Director	03-07-84	03-07-84	30-09-08	Active	NO
3	U74210MH1980PTC022757	NOVA TELESEC PRIVATE LIMITED	Director	15-07-85	15-07-85	-	Active	NO
4	U74999MH1994PTC082470	ARTHEON ENERGY PRIVATE LIMITED	Additional director	28-09-07	27-10-94	01-11-10	Active	NO
5	L65990MH1984PLC033922	ARTHEON FINANCE LIMITED	Director	27-06-97	27-06-97	-	Active	NO
6	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Director	29-09-99	29-09-99	-	Active	NO
7	U72900MH1999PLC122849	SALORA CAPITAL LIMITED	Director	01-12-99	01-12-99	16-03-10	Active	NO
8	U70101MH1989PTC050775	ARTHEON EMERGING TECHNOLOGIES PRIVATE LIMITED	Director	31-12-99	31-12-99	01-11-10	Active	NO
9	U85110KA1989PTC010467	ENCOMPASS SOFTWARE AND SYSTEMS PRIVATE LIMITED	Director	24-04-00	24-04-00	11-07-07	Active	NO
10	U72900MH1992PLC065539	ISPRAVA TECHNOLOGIES LIMITED	Director	07-09-00	07-09-00	-	Active	NO
11	U65910MH2001PTC130514	HEWLETT PACKARD FINANCIAL SERVICES (INDIA) PRIVATE LIMITED	Director	18-01-01	18-01-01	31-10-08	Active	NO
12	U74899DL1971PTC005492	ESSJAY ERICSSON PRIVATE LIMITED	Managing director	01-07-12	21-09-04	-	Active	NO
13	U51100DL2005PLC164948	RADIOHMS AGENCIES LIMITED	Director	18-01-05	18-01-05	13-02-07	Active	NO
14	U00000DL1981NPL011318	ASSOCIATED ELECTRONICS RESEARCH FOUNDATION.	Director	21-03-05	21-03-05	-	Active	NO
15	U74899DL1994PLC057392	MOZA HOSIERY INDIA LIMITED	Director	09-07-05	09-07-05	-	Strike off	NO
16	U74140TN2004PTC052320	INTEGRATED DOCUMENTATION CONSULTANTS PRIVATE LIMITED	Director	31-08-05	29-08-05	02-11-07	Active	NO
17	U72900MH2004PTC149993	SKANDSOFT TECHNOLOGIES PRIVATE LIMITED	Director	04-10-05	04-10-05	-	Active	NO
18	U32301DL2006PLC149584	SALORA COMPONENTS LIMITED	Director	09-06-06	09-06-06	16-03-10	Active	NO
19	U64200MH2005PTC154051	WILCOM TECHNOLOGIES PRIVATE LIMITED	Director	25-07-06	25-07-06	-	Active	NO
20	U85110MH1991PTC062321	ADITYA JYOT EYE HOSPITAL PRIVATE LIMITED	Director	29-09-06	29-09-06	14-11-11	Active	NO
21	U32300MH1980PLC022380	ARTHEON ELECTRONICS LIMITED	Director	19-02-07	19-02-07	-	Active	NO
22	U72200MH1999PTC118111	ULTIMEDIA TECHNOLOGIES PRIVATE LIMITED	Director	25-09-07	15-06-07	01-11-10	Active	NO
23	L99999MH1964PLC012835	ASIAN ELECTRONICS LIMITED	Director	27-09-07	30-07-07	05-11-08	Active	NO
24	U74899DL1992PTC047977	ERICSSON INDIA PRIVATE LIMITED	Director	27-04-09	14-12-07	-	Active	NO
25	U74990MH2008PTC177402	SHARADA INVENTIONS PRIVATE LIMITED	Director	05-01-08	05-01-08	-	Active	NO
26	U31402MH2009PTC198974	ARTHEON BATTERY COMPANY PRIVATE LIMITED	Director	28-07-09	28-07-09	-	Active	NO
27	U74999MH2010PTC210785	ARTHEON TELEVENTURES PRIVATE LIMITED	Director	08-12-10	08-12-10	-	Active	NO
28	U74900MH2010PTC210784	ARTHEON ADVISORS PRIVATE LIMITED	Director	08-12-10	08-12-10	-	Active	NO
29	U40300MH2011PTC216007	OMNIGRID MICROPOWER COMPANY PRIVATE LIMITED	Director	29-09-12	15-04-11	-	Active	NO
30	U40104MH2011PTC218880	FLEXENCLOSURE TELECOM INDIA PRIVATE LIMITED	Director	21-06-11	21-06-11	-	Active	NO
31	U40300MH2011PTC225529	ZAMIN INDIA POWER COMPANY PRIVATE LIMITED	Additional director	24-01-12	24-01-12	-	Active	NO
32	U10300MH2011PTC225544	ZAMIN INDIA ENERGY COMPANY PRIVATE LIMITED	Additional director	24-01-12	24-01-12	-	Active	NO
33	U93090MH2011PTC223078	SECURUS FIRST INDIA PRIVATE LIMITED	Additional director	16-03-12	16-03-12	-	Active	NO
34	U74140DL2010PTC211267	NUAGE ASSOCIATES PRIVATE LIMITED	Director	17-08-12	17-08-12	-	Active	NO
35	U74120MH2012PTC235170	ESSAY INFRA RESOURCES PRIVATE LIMITED	Director	30-08-12	30-08-12	-	Active	NO
36	AAA-9342	ARTHEON ESTATES LLP	Designated Partner	24-05-12	24-05-12	-	Active	NO

Name :

Mr. Kamal Sukhamoy Mitra

Designation :

Whole-time director

Address :

Rs No. 177 EW, Bungalow No-D1, Hari Puja Param, Nagal Park, Opposite Rajhana Press, Kolhapur – 416003

Date of Birth/Age :

15.06.1953

Date of Appointment :

01.01.2011

PAN No.:

[Permanent Account No.]

ABPPM6622E

DIN No.:

01839261

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	L17119PN1990PLC058139	PRANAVADITYA SPINNING MILLS LIMITED	Additional director	27-09-07	27-09-07	-	Active	NO
2	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Whole-time director	01-01-11	01-10-08	-	Active	NO

Name :

Mr. Anand Ramanna

Designation :

Director

Address :

Cuff Casile, 15^th Floor, Cuff Parade, Mumbai – 400005

Date of Birth/Age :

05.11.1933

Date of Appointment :

27.11.1995

PAN No.:

[Permanent Account No.]

AAAPR9067N

DIN No.:

00040325

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	U17110MH1982PTC027087	NOVA SILK Private LIMITED	Director	06-05-82	06-05-82	-	Active	NO
2	L33130AP1979PLC002521	NCL INDUSTRIES LIMITED	Director	14-06-08	04-06-82	-	Active	NO
3	U01711KA1993FTC014292	LUWA INDIA PRIVATE LIMITED	Director	10-05-93	10-05-93	16-07-09	Active	NO
4	L18101MH1991PLC059804	MAXWELL INDUSTRIES LIMITED	Director	11-11-93	11-11-93	20-08-09	Active	NO
5	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Director	27-11-95	27-11-95	-	Active	NO
6	U29269TZ1996PLC007229	MEHALA MACHINES INDIA LIMITED	Director	30-05-96	30-05-96	13-02-09	Active	NO
7	U29299KA2001PTC029952	EASTERN ENGINEERING COMPANY PRIVATE LIMITED	Director	31-12-01	31-12-01	21-07-08	Active	NO
8	U74999MH1966NPL013602	THE INDO-ITALIAN CHAMBERS OF COMMERCE AND INDUSTRY	Director	30-09-02	30-09-02	-	Active	NO
9	U99999MH1969NPL014319	INDIAN TEXTILE ACCESSORIES AND MACHINERY MANUFACTURERS' ASSOCIATION	Director	16-09-05	16-09-05	-	Active	NO
10	U28920MH1982PTC027261	EASTERN ENGINEERING CO (BOMBAY) PRIVATE LIMITED	Director	30-08-06	01-06-06	-	Active	NO
11	L17119PN1990PLC058139	PRANAVADITYA SPINNING MILLS LIMITED	Additional director	31-07-07	31-07-07	-	Active	NO
12	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	25-09-09	29-08-09	-	Active	NO
13	U18101AP2004PLC044154	NSL TEXTILES (EDLAPADU) LIMITED	Additional director	28-12-09	28-12-09	05-07-10	Amalgamated	NO
14	U93000MH2010PTC199719	ETS EASTERN SERVICES PRIVATE LIMITED	Director	04-02-10	04-02-10	-	Active	NO
15	U29253KA2011PTC058597	MARZOLI TEXTILE MACHINERY MANUFACTURERS PRIVATE LIMITED	Director	11-05-11	11-05-11	-	Active	NO
16	U31400MH2012PTC225956	FERRARI EASTERN FANS INDIA PRIVATE LIMITED	Director	12-01-12	12-01-12	-	Active	NO
17	U29253MH2012PTC227674	SMIT TEXTILE MACHINERY MANUFACTURERS PRIVATE LIMITED	Director	05-03-12	05-03-12	-	Active	NO

Name :

Mr. Dilip Jayantilal Thakkar

Designation :

Director

Address :

Littlie Gibbs Road, 12-B, Acropolis, Mumbai - 400007

Date of Birth/Age :

01.10.1936

Date of Appointment :

28.01.2003

PAN No.:

[Permanent Account No.]

AACPT9000H

DIN No.:

00007339

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	U74140MH1988PLC049720	OMEGA MANAGEMENT SERVICES LIMITED	Director	21-11-88	21-11-88	-	Strike off	NO
2	U67120MH1986PTC039378	RAJSVI PROPERTIES AND HOLDINGS PRIVATE LIMITED	Director	25-11-88	25-11-88	-	Active	NO
3	L51909MH1982PLC143066	PODDAR DEVELOPERS LIMITED	Director	15-10-92	15-10-92	-	Active	NO
4	U65990MH1993PTC074296	STARROCK INVESTMENTS AND TRADING PRIVATE LIMITED	Director	04-10-93	04-10-93	-	Dormant	NO
5	L31400GJ1972PLC002091	PANASONIC ENERGY INDIA COMPANY LIMITED	Director	05-02-94	05-02-94	-	Active	NO
6	U01120MH1993PLC071052	DECCAN FLORA BASE LIMITED	Director	16-05-94	16-05-94	30-01-07	Active	NO
7	L11100GJ1989PLC032116	ESSAR OIL LIMITED	Director	03-11-94	03-11-94	-	Active	NO
8	L24100MH1972PLC016149	THIRUMALAI CHEMICALS LIMITED	Director	20-03-98	20-03-98	25-05-12	Active	NO
9	L17120MH1917PLC000447	RUBY MILLS LIMITED	Director	27-03-00	27-03-00	-	Active	NO
10	L99999MH1950PLC008152	PAE LIMITED	Director	28-07-00	28-07-00	-	Active	NO
11	L17112KA1985PLC006647	HIMATSINGKA SEIDE LIMITED.	Director	16-04-08	13-01-01	-	Active	NO
12	U51432MH2000PTC130107	BLUEBERRY TRADING COMPANY PRIVATE LIMITED	Director	28-02-02	28-02-02	-	Active	NO
13	U45200MH2002PTC136271	HAMLET CONSTRUCTIONS (INDIA ) PRIVATE LIMITED	Director	20-06-02	20-06-02	-	Active	NO
14	U70100MH2002PTC135132	TOWNSHIP REAL ESTATE DEVELOPERS (INDIA) PRIVATE LIMITED	Director	11-11-02	11-11-02	-	Active	NO
15	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Director	28-01-03	28-01-03	-	Active	NO
16	L74999MH1908PLC000291	WALCHANDNAGAR INDUSTRIES LIMITED	Director	10-03-03	10-03-03	-	Active	NO
17	U55100MH2003PTC143271	WINDMERE HOSPITALITY (INDIA) PRIVATE LIMITED	Director	24-11-03	24-11-03	-	Active	NO
18	U72200MH2004PTC149816	SKIDATA (INDIA) PRIVATE LIMITED	Director	28-12-06	28-12-06	-	Active	NO
19	L10889MH1957PLC010889	GARWARE POLYESTER LIMITED	Director	18-12-07	23-04-07	-	Active	NO
20	L61100MH1976PLC019229	GLOBAL OFFSHORE SERVICES LIMITED	Director	11-05-07	11-05-07	28-06-10	Active	NO
21	L85110GJ1975PLC054824	ESSAR PORTS LIMITED	Director	27-09-08	20-06-08	-	Active	NO
22	L17120MH1933PLC002031	MODERN INDIA LIMITED	Director	24-07-09	23-01-09	-	Active	NO
23	U63030MH2003PTC142331	AMEYA LOGISTICS PRIVATE LIMITED	Director	24-09-09	31-03-09	-	Active	NO
24	U01200MH2009PTC192758	SOLID QUALITY INDIA PRIVATE LIMITED	Director	27-05-09	27-05-09	-	Active	NO
25	U99999MH1992PLC064767	AEGIS LIMITED	Director	15-11-10	19-01-10	05-02-11	Active	NO
26	L34103PN1944PLC020842	PREMIER LIMITED	Director	30-08-10	28-04-10	-	Active	NO
27	U74120MH2010PTC202660	MEGA TECH ENERCON SYSTEMS PRIVATE LIMITED	Director	01-05-10	01-05-10	15-09-11	Active	NO
28	U99999DL2001PLC175768	MAGUS ESTATES AND HOTELS LIMITED	Director	21-09-11	03-12-10	-	Active	NO

Name :

Mr. Nadeem Askari Panjetan

Designation :

Nominee Director

Address :

1503, Wallace Apartments, Sleater Road, Grant Toad (West), Mumbai – 400007

Date of Birth/Age :

23.02.1961

Date of Appointment :

21.05.2011

PAN No.:

[Permanent Account No.]

AKAPP6549B

DIN No.:

00686989

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	U31909AP1980PLC002697	VIJAI ELECTRICALS LIMITED	Nominee director	02-07-05	02-07-05	18-12-09	Active	NO
2	U51900MH1979PTC020951	AL KABEER EXPORTS PRIVATE LIMITED	Nominee director	21-07-06	21-07-06	29-04-11	Active	NO
3	U72200AP2000PLC033604	CATALYTIC SOFTWARE LIMITED	Nominee director	28-08-06	28-08-06	-	Active	NO
4	L85195AP1984PLC004393	NEULAND LABORATORIES LIMITED	Nominee director	29-04-11	29-04-11	-	Active	NO
5	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Nominee director	02-05-11	02-05-11	-	Active	NO

Name :

Mr. Vijay Kumar Jain

Designation :

Director

Address :

No.1543, Sector 13, Neelkant Apartments, Rohini, Delhi – 110085, India

Date of Birth/Age :

06.02.1956

Date of Appointment :

20.01.2012

PAN No.:

[Permanent Account No.]

AAMPJ2152J

DIN No.:

05206133

Name :

Mr. Prem Sardarilal Malik

Designation :

Director

Address :

501, Akhand Aabhar Apartments, 21^st Road, Near Khar Gymkhana, Bandra (West)\, Mumbai - 400050

Date of Birth/Age :

03.02.1942

Date of Appointment :

31.07.2010

PAN No.:

[Permanent Account No.]

AAGPM2710F

DIN No.:

00023051

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	U51909MH1995PTC089716	ALDER TRADING COMPANY PRIVATE LIMITED	Director	25-11-95	25-11-95	-	Active	NO
2	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	18-09-09	08-09-00	-	Active	NO
3	U74210MH2003PTC141755	SMILESVILLE CARE PRIVATE LIMITED	Director	14-08-03	14-08-03	-	Active	NO
4	U91110MH1954NPL009385	THE COTTON TEXTILES EXPORT PROMOTION COUNCIL	Director	30-09-05	30-09-05	15-11-10	Active	NO
5	L74899DL1991PLC138153	SPENTEX INDUSTRIES LIMITED	Director	12-09-06	12-09-06	-	Active	NO
6	U99100MH1954NPL009434	THE SYNTHETIC AND RAYON TEXTILES EXPORT PROMOTION COUNCIL	Director	29-09-06	29-09-06	10-09-12	Active	NO
7	L18101KL2005PLC018062	GTN TEXTILES LIMITED	Director	28-10-06	28-10-06	-	Active	NO
8	L27209GJ1999PLC036656	GYSCOAL ALLOYS LIMITED	Director	30-09-08	18-02-08	-	Active	NO
9	U17124MP2008PTC020601	CLC TEXTILE PARK PRIVATE LIMITED	Managing director	01-05-09	21-04-08	-	Active	NO
10	U91110MH1921NPL000940	COTTON ASSOCIATION OF INDIA	Nominee director	05-06-08	05-06-08	31-03-10	Active	NO
11	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Director	31-07-10	30-10-09	-	Active	NO
12	U17121MH2010NPL199093	INDIAN TECHNICAL TEXTILE ASSOCIATION	Director	20-01-10	20-01-10	-	Active	NO
13	U55101GJ2009PLC056756	FOUR SEASONS RESIDENCY LIMITED	Director	26-09-12	21-10-11	-	Active	NO
14	U70100MP2012NPL027877	CHHINDWARA INFRASTRUCTURE PRIVATE LIMITED	Director	02-03-12	02-03-12	-	Active	NO
15	L74999MH1995PLC087643	LAHOTI OVERSEAS LIMITED	Director	28-09-12	28-03-12	-	Active	NO
16	L18101KL1991PLC006194	PATSPIN INDIA LIMITED	Director	13-08-12	15-05-12	-	Active	NO

Name :

Mr. Kailash Lalpuria

Designation :

Whole-time Director

Address :

1001, Satsang Towers, Upper Govinda Nagar, Malad (East), Mumbai – 400097

Date of Birth/Age :

02.07.1959

Date of Appointment :

11.11.2010

PAN No.:

[Permanent Account No.]

AAAPI7182I

DIN No.:

00059758

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	U51909MH2004PTC146388	KARROT OVERSEAS PRIVATE LIMITED	Director	18-05-04	18-05-04	02-02-12	Active	NO
2	U17111MH1982PLC118017	PRATIBHA SYNTEX LIMITED	Director	31-08-05	27-12-04	03-04-07	Active	NO
3	U51109MH2006PTC159287	FIFTH AVENUE HOME FASHIONS PRIVATE LIMITED	Director	27-01-06	27-01-06	-	Active	NO
4	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Whole-time director	01-01-11	11-11-10	-	Active	NO
5	U18101PB2002PLC025217	VALLABH TEXTILES COMPANY LIMITED	Director	29-09-11	27-12-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. R. Sundaram
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2012

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	884983	2.49
Bodies Corporate	5901601	16.63
Sub Total	6786584	19.13
(2) Foreign
Bodies Corporate	12400491	34.95
Sub Total	12400491	34.95
Total shareholding of Promoter and Promoter Group (A)	19187075	54.08
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	507506	1.43
Financial Institutions / Banks	7470	0.02
Foreign Institutional Investors	2717161	7.66
Sub Total	3232137	9.11
(2) Non-Institutions
Bodies Corporate	4416201	12.45
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	4667313	13.15
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	3487678	9.83
Any Others (Specify)	491230	1.38
Non Resident Indians	254889	0.72
Clearing Members	1742	0.00
Hindu Undivided Families	234599	0.66
Sub Total	13062422	36.81
Total Public shareholding (B)	16294559	45.92
Total (A)+(B)	35481634	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	35481634	0.00

As on 13.09.2011

Names of Allottee (Preference Share)	No. of Shares Allotted
Tazai Enterprises Private Limited, India	2500000
Total	2500000

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Cotton Yarn and Knitted Fabrics.

Products :

Item Code No. (ITC Code)	5205
Product Description	Cotton Yarn
Item Code No. (ITC Code)	6002
Product Description	Cotton Knitted Fabrics
Item Code No. (ITC Code)	8528.00
Product Description	Television Receiver
Item Code No. (ITC Code)	2523
Product Description	Cotton Woven and Processed Fabrics

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Cotton Yarn ***	Spindles	64512	59520	@6550999
Cotton Knitted Fabrics #	Machine Nos.	20	8	46706
Readymade garments	PCS.	2430000	--	--
Cotton woven and processed fabric	Looms million Mtrs	324	128	18.13
Cotton woven and processed fabric ****	Million Meters	##94.60	36.50	16.30
Television receivers (CTV) and assemblies sub-assemblies thereof	Nos.	500000	500000	271940
Speaker units and assemblies and sub-assemblies thereof	Nos.	150000	150000	--
Domestic Air conditioners	Nos.	250000	250000	--
Mobile Handsets	Nos.	1200000	1200000	--
Home Appliances	Nos.	250000	250000	34241

* Based upon memorandum of information filed with the Secretariat of Industrial Approvals/Secretariat for Industrial Assistance, Government of India.

** As certified by the management

*** Includes Kgs 54101 (previous year 2650 kgs) of cotton yarn used for captive consumption.

**** Represents conversion by outside parties 291161 Mtrs. (Previous year 533100 Mtrs.) aginst fabric supplied by the Company.

# Relates to Gokul Shirgaon Spinning Unit.

# # Relates to Kagal Unit and based upon registration with Director of Industries, Government of Maharashtra

@ - Includes stock transfer to HT 845195 Kgs (Previous Year 1211751 Kgs)

Note: In production column Yarn and fabric are measured in "kgs.", Woven / Processed Fabric in "Million Meters" and others in "Nos."

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

· Union Bank of India, Industrial Finance Branch,1^st Floor, Union Bank Bhavan, Nariman Point, Mumbai - 400021, Maharashtra, India

· Canara Bank

· Bank of India

· Bank of Baroda, Mangaldas Market Branch, 375/382, Kitchen Garden Lane, 1^st Floor, Mumbai - 400002, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
1) Debentures
10% 300 - Secured Redeemable Non Convertible Debentures of Rs.1.000Millions each (a)	279.900	299.400
Funded Interest on Debentures (a)	0.000	24.971
2) Term Loans
a) Rupee Loans - From Financial Institutions (a)	361.541	390.026
- From Banks (a)	1150.443	1237.799
3) Working Capital Term Loans (a)	282.654	299.485
4) Demand Term Loan (d)	318.597	340.807
5) Funded Interest on Term Loans (a)	0.000	43.750
6) Interest accrued and due	7.066	7.709
7) Packing Credit Loans
- From Banks (b)
- In Rupees	1146.793	848.608
- In Foreign Currency	132.118	0.000
8) Hire Purchase Finance - From Banks / Others (c)	1.305	1.747
Total	3680.417	3494.302
(a) Secured inter se on pari-passu basis by way of mortgage of all immovable properties and hypothecation of all moveable properties (save and except stocks and book debts and moveables of electronic division) both present and future. Loans of Rs.2393.594 Millions (previous year Rs.2636.238 Millions) are additionally secured by personal guarantee of the Managing Director. (b) Secured by hypothecation of Raw materials, Semi finished goods, Finished goods, Stores and Spares, Goods in transit and Book Debts of Spinning and Home textile divisions, and further secured by second charge on Fixed Assets both present and future and personally guaranteed by the Managing Director. (c) Secured against hypothecation of Vehicles acquired under Auto Loan Schemes. (d) Secured against third charge on the fixed assets of the Company and additionally secured by personal guarantee of the Managing Director.

Banking Relations :	--
Auditors :
Name :	B. K. Shroff and Company Chartered Accountants
Address :	3/7-B, Asal Ali Road, 1^st Floor, Flat No.4, New Delhi-110 002, India
Tel. No.:	91-11-23271407 / 23284825 / 23284826
Fax No.:	91-11-23270362
E-Mail :	bkshroffdalhi@yahoo.com bkshroffdalhi@rediff.com
Subsidiaries Company :	Pranavaditya Spinning Mills Limited
Associates Company :	· Margo Finance Limited (Formerly Indocount Finance Limited) · Indocount Securities Limited · Rini Investment and Finance Private Limited · Sky Rise Properties Private Limited · Unic Consultants · Yarntex Exports Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
55000000	Equity Shares	Rs.10/- each	Rs.550.000 Millions
5000000	Preference shares	Rs.10/- each	Rs.50.000 Millions
	Total		Rs.600.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
35481634	Equity Shares	Rs.10/- each	Rs.354.816 Millions
2500000	Preference shares	Rs.10/- each	Rs.25.000 Millions
	Total		Rs.379.816 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
55000000	Equity Shares	Rs.10/- each	Rs.550.000 Millions
5000000	Preference shares	Rs.10/- each	Rs.50.000 Millions
	Total		Rs.600.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
35481634	Equity Shares	Rs.10/- each	Rs.354.816 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		354.816	333.150	330.650
2] Share Application Money		25.000	32.500	0.000
3] Reserves & Surplus		1601.488	1700.824	1687.186
4] (Accumulated Losses)		(252.397)	(342.758)	(156.649)
NETWORTH		1728.907	1723.716	1861.187
LOAN FUNDS
1] Secured Loans		3680.417	3494.302	3379.796
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		3680.417	3494.302	3379.796
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		5409.324	5218.018	5240.983
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3609.930	3889.724	4022.105
Capital work-in-progress		20.532	6.291	10.791
INVESTMENT		181.079	180.855	187.292
DEFERREX TAX ASSETS		205.221	262.074	168.029
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1245.504	807.628	436.489
	Sundry Debtors	526.473	500.308	212.874
	Cash & Bank Balances	142.661	53.068	181.892
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	696.932	968.338	377.823
Total Current Assets		2611.570	2329.342	1209.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	894.571	1104.228	199.111
	Other Current Liabilities	275.972	302.421	112.270
	Provisions	48.465	43.619	44.931
Total Current Liabilities		1219.008	1450.268	356.312
Net Current Assets		1392.562	879.074	852.766
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		5409.324	5218.018	5240.983

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	6362.503	3612.611	2624.378
		Other Income	534.868	357.359	277.820
		TOTAL (A)	6897.371	3969.970	2902.198
Less	EXPENSES
		Material Cost	4656.334	2551.507	1352.125
		Purchases - Traded Goods	3.023	0.000	0.000
		Manufacturing and Other Expenses	1712.409	1431.790	1138.752
		Exceptional items	46.011	115.159	677.176
		Increase / (Decrease) in Stocks	(149.399)	(302.488)	39.869
		TOTAL (B)	6268.378	3795.968	3207.922
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		628.993	174.002	(305.724)
Less	FINANCIAL EXPENSES (D)		305.428	273.168	214.265
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		323.565	(99.166)	(519.989)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		176.439	180.927	185.305
	PROFIT BEFORE TAX (E-F) (G)		147.126	(280.093)	(705.294)
Less	TAX (H)		56.765	(93.984)	(180.239)
	PROFIT AFTER TAX (G-H) (I)		90.361	(186.109)	(525.055)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(342.758)	(156.649)	(119.910)
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	488.316
	BALANCE CARRIED TO THE B/S		(252.397)	(342.758)	(156.649)
	EARNINGS IN FOREIGN CURRENCY		4291.180	2908.917	2250.574
	IMPORTS
		Capital Goods	3.003	0.000	2.927
		Stores & Spares	6.059	85.751	5.396
		Raw Materials	15.698	156.500	22.890
	TOTAL IMPORTS		24.760	242.251	31.213
	Earnings Per Share (Rs.)		2.60	(5.59)	(17.46)

QUARTERLY RESULTS

PARTICULARS	30.06.2011	30.09.2011	31.12.2011	31.03.2012	30.06.2012	30.09.2012
Type	1^st Quarter	2^nd Quarter	3^rd Quarter	4^th Quarter	5^th Quarter	6^th Quarter
Sales Turnover	1539.600	2061.000	1859.100	2113.500	2443.900	3026.000
Total Expenditure	1544.200	1974.900	1734.700	1903.900	2189.400	2716.900
PBIDT (Excl OI)	(4.600)	86.100	124.400	209.600	254.500	309.100
Other Income	85.200	76.900	79.500	0.000	0.000	0.000
Operating Profit	80.600	163.000	203.900	209.600	254.500	309.100
Interest	77.200	90.100	97.000	85.900	105.000	97.000
Exceptional Items	(1.400)	(15.600)	(59.400)	(46.900)	(59.400)	(84.500)
PBDT	2.000	57.300	47.500	76.800	90.100	127.600
Depreciation	43.800	44.100	44.600	44.400	43.400	44.000
Profit Before Tax	(41.800)	13.200	2.900	32.400	46.700	83.600
Tax	(13.200)	4.200	1.200	13.100	15.000	27.400
Profit After Tax	(28.600)	9.000	1.700	19.300	31.700	56.200
Extraordinary Items	0.000	0.000	0.000	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000	0.000	0.000	0.000
Net Profit	(28.600)	9.000	1.700	19.300	31.700	56.200

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.31	(4.69)	(18.09)
Net Profit Margin (PBT/Sales)	(%)	2.31	(7.75)	(26.87)
Return on Total Assets (PBT/Total Assets}	(%)	2.36	(4.50)	(13.48)
Return on Investment (ROI) (PBT/Networth)		0.09	(0.16)	(0.38)
Debt Equity Ratio (Total Liability/Networth)		2.83	2.87	2.01
Current Ratio (Current Asset/Current Liability)		2.14	1.61	3.39

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	No
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	No
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
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 D-1, MIDC Industrial Area, Gokul Shirgaon, Kolhapur - 416 234, Maharashtra, India to present address w.e.f. 01.11.2008

PERFORMANCE REVIEW

Company as whole

During the year the Company has achieved a total income of Rs.7046.800 Millions as against Rs.4272.500 Millions on stand alone basis, thereby registering an impressive growth of around 65%.

Textile Division

During the year this division has achieved a sales turnover of Rs.5547.000 Millions as against Rs.3492.400 Millions during the previous year. Major part of this growth is attributed to Home Textile business.

Though the sales growth were encouraging, the sharp and unprecedented increase in the cost of Raw Material coupled with other input cost like power and labour have affected the margins.

The year also saw an improvement in the THEN economy, turnaround gave sigh of relief to the Indian Exporters.

The Spinning Division played a supporting role to the Home Textile Division.

The Government of Maharashtra has conferred First Award in Large Scale Industries (LSI) Textile Category for the Export Performance in the year 2009-10

With a view to multiply sales the Company has incorporated a Subsidiary Company namely INDO COUNT GLOBAL INC. in the United States of America, This will enable the Company to expand its clientele in USA, introduce its own Brand and improve the margin.

MANAGEMENT DISCUSSION AND ANALYSIS

1. TEXTILE DIVISION

· Industry structure and developments

The number of composite textile units in the country has remained around 200 for a long time. These are in the organized sector and engaged in the complete value chain right from spinning to finishing of fabrics. Of this, about 10% is in the made up segment, rest being in the clothing segment.

Composite mills score over others in terms of attracting large buyers as also investors who want to take exposure in to and grow with the sector.

Composite mills have their presence in domestic and export markets. Some have strong local brands.

The Company has composite facilities and controls the complete value chain, having spinning, weaving, fabric processing, cut/sew and merchandising facilities. Presently, most of its production is exported. The Company has plans to enter in to domestic market either through its own brand or in partnership with existing channels. The management hopes to initiate this process at opportune time.

· Opportunities and threats

Being predominantly export based, the Company's products are exposed to global economic conditions.

The joint efforts put in by the government of developed and developing (G20) countries to pull the global economy out of recession are expected to result in early restoration of consumer and business confidence. Hitherto, US and European countries accounted for about 65% of the global demand for Home Textile products. The Directors hope that the economic recovery would be faster and Indian textile exports will soon spring back to normal level and further grow.

The initiatives taken by the Government of India to help exporters are laudable and need to be continued to remain competitive in the global market.

· Outlook

From the reports available in public domain, it is believed that the global economic recovery is in its way. It is only hoped that the growth momentum gathers, steam soon and fast. Indian textile industry is generally competitive and considering the positive business conditions developing, outlook for cotton textiles appears to be good.

2. ELECTRONIC DIVISION

Industry structure and developments

The consumer electronics industry is occupied by few branded Indian and multi national companies. Though the products are under common VAT system, non uniform tariff structure in different states and fiscal concessions granted by some state governments to local investment, have impact on the product pricing. Competition in this industry is therefore skewed.

In the retail segment, some private brands have been investing to get visibility and have established market share for their products.

· Opportunities and threats

The technology in consumer electronic products has been fast changing. Continuous Investment is required to adapt to the change and keep abreast with the technological development.

The Company has plans to invest in upgradation of facilities and manpower skills to meet the challenges.

The new product offerings in the market place have spooked interest in the consumers. Product differentiation, affordable

pricing and easy financing methods have ensured reach of these products to the interior parts of the country and the

OEM/ODM units have larger role to play in the business growth. Considering the nearness to market, the logistics and handling of fragile/bulky goods, regional units such as yours, are preferred by these brands.

· Outlook

The Company has established itself as a reliable electronic manufacturing services unit. Retail revolution has created new markets and the Directors believe there will be adequate opportunities for the Company to exist and expand the business.

CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF

Rs. In Millions

Particular	31.03.2011	31.03.2010
Amount outstanding in respect of export bills discounted under Export Letters of Credit (Since realized Rs.290.156 Millions, previous year Rs.140.171 Millions)	410.398	264.138
Bank Guarantees *	67.392	38.979
Claims not acknowledged as debts	1.110	1.078
Income tax/Custom Duty demands disputed in appeals	2.113	3.069
Corporate guarantee given to a bank for securing financial assistance to subsidiary Company	10.00	10.00

* The Company has given bank guarantee for Rs.0.411 Million to DGFT on behalf of Pranavaditya Spinning Mills Limited, Subsidiary Company for duty free import of Machines.

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30.09.2012

Rs. In Millions

Particulars	Quarter Ended (Unaudited)			For the Half Year Ended (Unaudited)		Nine Months Ended
	30.09.2012	30.06.2012	30.09.2011	30.09.2012	30.09.2011	31.03.2012
(a) Net Sales / Income from operations	2959.200	2373.400	2061.000	5332.600	3600.500	7492.500
(b) Other Operating Income	66.800	70.500	76.900	137.300	162.200	275.300
Total Income	3026.100	2443.900	2137.900	5470.000	3762.700	7767.800
Expenditure
a) Cost of Materials sold	1858.500	1580.600	1181.500	3439.100	2483.900	5157.200
b) Purchase of traded goods	0.000	3.300	36.800	3.300	51.300	67.300
c) Change in inventories of finished of finished goods, work in program and stock – in-trade	0.000	(14.600)	270.300	(14.600)	141.800	(21.700)
d) Employees cost	103.300	113.200	74.400	216.300	154.000	366.800
e) Depreciation	44.000	43.400	44.100	87.400	87.900	176.900
f) Other expenditure	613.200	393.600	331.400	1006.800	501.700	1131.600
g) Power and Fuel	142.200	113.300	80.500	255.500	186.400	409.700
Total	2761.000	2232.800	2019.000	4993.800	3607.000	7287.600
Earnings before interest*depreciation ,tax and amortisation (EBIDTA)	309.100	254.500	163.000	563.600	243.600	657.000
Profit from operations before other income, interest and exceptional Items	265.100	211.100	118.900	476.200	155.700	480.200
Other income	--	--	--	--	--	--
Profit before interest and exceptional Items	265.100	211.100	118.900	476.200	155.700	480.200
Finance charges	97.000	105.000	90.100	202.000	167.300	350.100
Profit after Interest but before Exceptional Items	168.100	106.100	28.800	274.200	(11.600)	130.100
Exceptional Items	(84.500)	(59.400)	(15.600)	(143.900)	(17.100)	(123.500)
Profit (+)/Loss(-) from Oridinary Activities before tax	83.600	46.700	13.200	130.3000	(28.700)	6.600
Tax expense
Current Income Tax	5.900	--	--	5.900	--	--
Tax of Earlier Year	--	--	--	--	--	(2.500)
Deferred Tax	27.300	15.000	4.200	42.300	(9.000)	(2.800)
MAT Credit Entitlement	(5.800)	-	-	(5.800)	-	-
Net Profit (+)/Loss(-) from Ordinary Activities after tax	56.200	31.700	9.000	87.900	56.200	31.700
Extraordinary Items (net of tax expenses)	--	--	--	--	--	--
Net Profit (+) / Loss (-) for the year period	56.200	31.700	9.000	87.900	56.200	31.700
Cash Profit	127.600	90.100	57.200	217.700	59.200	183.400
Paid up equity share capital (Face value of Rs.10/- per share)	354.800	354.800	354.800	354.800	354.800	354.800
Reserves excluding revaluation reserves as per balance sheet of previous accounting year	--	--	--	--	--	--
Reserve excluding revaluation reserves as per balance sheet	--	--	--	--	--	--
Earnings per share (EPS)
(a) Basic and diluted EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualised)	1.59	0.04	0.25	2.48	(0.55)	0.04
(b) Basic and diluted EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualised)	1.59	0.89	0.25;	2.48	(0.55)	0.04
Public shareholding
Number of shares	16,294.559	16.294.559	16,286.559	16.294,559	16.286.559	16.295.859
Percentage of shareholding	45.92%	45.92%	45.90%	45.92%	45.90%	45.93%
Promoters and Promoters group Shareholding-
a) Pledged /Encumbered	6.295.495	6,295,495	6,295.495	6,295,495	6.295.495	6,295,495
Number of shares	32.81%	32.81%	32.80%	32.81%	32.80%	32.81%
Percentage of shares (as a % of total shareholding of the promoter and promoter group)
Percentage of shares (as a % of total share capital of the company)	17.74%	17 74%	17.74%	17.74%	17.74%	17.74%
b) Non Encumbered
Number of shares	12.891,580	12.891,580	12,899.580	12.891.580	12.899.580	12.890,280
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	67.19%	67.19%	67.20%	67.19%	67.20%	67.19%
Percentage of shares (as a % of total share capital of the company)	36.33%	36.33%	36.36%	36.33%	36.36%	36.33%

SEGMENT-W ISE REVENUE, RESULT AND CAPITAL EMPLOYED AS PER CLAUSE 41 OF LISTING AGREEMENT

Rs. In Millions

Particulars	Quarter Ended (Unaudited)			For the Half Year Ended (Unaudited)		Nine Months Ended
	30.09.2012	30.06.2012	30.09.2011	30.09.2012	30.09.2011	31.03.2012
Segment Revenue
a) Textiles	2551.800	1962.400	1599.800	4514.200	2703.000	5853.000
b) consumer Durables Goods/ Electronics	407.400	411.000	461.100	818.400	897.500	11639.500
Total	2959.200	2373.400	2061.000	5332.600	3600.500	7492.500
Segment Results (Profit before interest and Tax)
a) Textiles	240.500	191.5	97.400	431.900	109.400	395.500
b) consumer Durables Goods/ Electronics	24.600	19.6	21.500	44.200	46.300	84.700
Total	265.100	211.1	118.900	476.200	155.700	480.200
Capital Employed (Assets- Liabilities)
a) Textiles	1707.000	1771.3	2654.300	1707.000	2654.300	1865.300
b) consumer Durables Goods/ Electronics	300.500	276.3	219.000	300.500	219.000	257.000
Total	2007.500	2047.6	2873.300	2007.500	2873.300	j 2122.300

INDO COUNT INDUSTRIES LIMITED STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH SEPTEMBER, 2012

Rs. In Millions

Particulars	30.09.2012 Unaudited	31.03.2012 Audited
Shareholders' funds
(a) Share Capital	379.800	379.800
(b) Reserves and Surplus	1273.000	1240.200
Sub-total - Shareholders funds	1652.800	1620.00
Non-current liabilities
(a) Long-term borrowings	1551.600	1754.400
(b) Other long term liailities	19.300	28.100
Sub-total - Non-current liabilities	1570.900	1782.500
Current liabilities
(a) Short-term borrowings	1620.800	1410.400
(b) Trade payables	1602.00	1074.600
(c) Other current liabilities	822.100	682.600
(d) Short-term provisions	5.900	0.000
Sub-total - Current liabilities	4050.800	3167.600
TOTAL EQUITY AND LIABILITIES	7274.600	6570.200
ASSETS
Non - current assets
(a) Fixed assets	2447.100	3419.100
(b) Non-current investments	194.700	195.400
(c) Deferred tax assets (net)	160.100	202.400
(d) Long-term loans and advances	36.300	30.700
Sub-total - Non-current assets	2838.20	3847.60
Current assets
(a) Inventories	1481.900	1289.900
(b) Trade receivables	965.300	680.800
(c) Cash and cash equivalents	87.900	59.100
(d) Short-term loans and advances	660.900	498.200
(e) Other current assets	240.500	194.500
Sub-total - Current assets	3436.500	2722.50
TOTAL ASSETS	7274.600	6570.200

NOTES

1) The above financial results for the quarter ended 30.09.2012, have been reviewed by the Statutory Auditors of the Company as per Listing Agreement with the Stock Exchanges and approved by the Board of Directors on 8th November, 2012.

2) The Company has outstanding Foreign Currency Derivative Contracts in the form of Options for hedging its business related exposure which are not speculative in nature. The Contracts have long dated tenor with multiple contingent / uncertain events. As such ascertainment of fair value of these Contracts is not feasible. Banks estimate MTM loss on these Contracts at Rs. 15.500 Millions as at 30.09.2012. AS 30 is not mandator. , the Company has not provided for the Loss in its Books of Accounts.

3) The Company has only two reportable segments i.e. Textiles and Consumer Durable Goods / Electronics.

4) In terms of clause 41 (I) (e) of the Listing Agreement, the Company has exercised an option to publish standalone quarterly financial results.

5) Subject to necessary permission, the Company proposes to issue upto 11,00,000 equity shares of Rs. 10/ each for cash at par to the promoters on prefrential basis.

6) Previous period's figures have been regrouped wherever necessary.

7) Details of Investor Complaints for the Quarter ended 30-09-2012: Beginning - Nil, Received - 3, Resolved -3, Pending Nil.

Bankers Charges Report as per Registry

Corporate identity number of the company	L72200PN1988PLC068972
Name of the company	INDO COUNT INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Village Alte, Taluka Hatkanangale, Kolhapur – 416109, Maharashtra, India uicpvtltd@gmail.com
This form is for	Creation of charge
Type of charge	· Book debts · Movable property (not being pledge)
Particular of charge holder	Bank of Baroda, Mangaldas Market Branch, 375/382, Kitchen Garden Lane, 1^st Floor, Mumbai - 400002, Maharashtra, India kamalax_saraf@hotmail.com
Nature of instrument creating charge	Composite Hypothecation Agreement dated 16.10.2012, for Rs. 149.600 Millions
Date of instrument Creating the charge	16.10.2012
Amount secured by the charge	Rs.149.600 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 9.5% p.a. or such other rate as may be intimated by bank and accepted by the Company. Terms of Repayment This being a Demand Loan in nature no repayment schedule is available. Extent and Operation of the charge Charge operates as an security for due repayment of working capital facilities aggregating Rs.149.600 Millions alongwith interest, premia, penalty on pari passu basis with Union Bank of India, Canara Bank and Bank of India.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Stock of raw material and Movable fixed assets belonging to the Company situated at D,and D-1, Gokulshirgaon, MIDC Industrial Area, Kolhapur-416234 Stock of raw material and Movable fixed assets belonging to the Company situated at T-3, Five star Kagal Hatkanangale, MIDC Industrial Area, Post, Talandage, Taluka Hatkanangale, District Kolhapur 416216 Stock of Movable fixed assets belonging to the Company situated at Office Premises No.301 and 1101 Arcadia Premises Co-oprative Society, NCPA Marg, Nariman Point, Mumbai- 400021. Stock of Movable fixed assets belonging to the Company situated at Office Premises No.25, Plot No.1,Survey No.29 (part), Pach Pakhadi, Old Agra Road, Thane (west) 400 601.

FIXED ASSETS:

· Land - Leasehold

· Buildings

· Plant and Machinery

· Furniture and Fixtures

· Factory and Office

· Equipments

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.34
UK Pound	1	Rs.88.30
Euro	1	Rs.71.37

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.