MIRA INFORM REPORT

Report Date :

30.11.2012

IDENTIFICATION DETAILS

Name :	RUNGTA IRRIGATION LIMITED
Registered Office :	101, Pragati Towers 26, Rajendra Place New Delhi – 110008
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	17.04.1986
Com. Reg. No.:	55-023934
Capital Investment/ Paid-up Capital:	Rs.121.961 Millions
CIN No.: [Company Identification No.]	L74899DL1986PLC023934
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Supplier and Manufacturer of Irrigation Systems and Pipe Fittings.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

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

Maximum Credit Limit :	USD 2220000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The profitability of the company appears to be low. However, Trade relations are reported to be fair. Business is active. Payment are reported to be slow but correct. 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	CRISIL
Rating	C (Cash Credit)
Rating Explanation	Having very high risk of default regarding timely servicing of financial obligation.
Date	March 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/Head Office :	101, Pragati Towers 26, Rajendra Place New Delhi – 110008, India
Tel. No.:	91-11-45090900/32905291
Fax No.:	91-11-45090931
E-Mail :	info@rungtairrigation.in rungtareception@gmail.com
Website :	www.rungtairrigation.in
Zonal Office:	B -7, Electronic Complex, Kushaiguda, Hyderabad – 500062, Andhra Pradesh, India
Tel. No.:	91-40-27130322
Fax No.:	91-40-27130323
Factory	C-165, Bulanshahhar Road, Industrial area, Ghaziabad, Uttar Pradesh, India
Branches :	Located at · Hyderabad · Pondicherry · Haryana · Bhopal · Jabalpur · Raipur · Jaipur · Bangalore · Kolkata · Sillguri · Nagpur · Bhubaneshwar
Works/Branch/Depot	Located at · Ghaziabad · Calcutta · Bhopal · Bangalore · Hyderabad · Yanam · Jodhpur · Patna · Ranchi · Bhiwani · Jaipur · Sikar · Jabalpur · Raipur · Bhubaneshwar · Burhanpur

DIRECTORS

As on 15.09.2011

Name :

Mr. Mahabir Prasad Rungta

Designation :

Managing Director

Address :

S-75, Panchsheel Park, New Delhi-110017, India

Date of Birth/Age :

07.01.1955

Qualification :

Graduate

Date of Appointment :

03.08.1993

Din No.:

00235632

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	L74140WB1983PLC035828	RUNGTA PROJECTS LTD	Director	15/04/2009	23/06/1986	05/04/2010	Active	NO
2	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Managing director	03/08/1993	03/08/1993	-	Active	NO
3	U74899DL1993PTC055894	SAMARA REALTY PRIVATE LIMITED	Director	07/01/2000	07/01/2000	10/08/2009	Active	NO
4	U27109WB2004PTC139875	RAMGARH SPONGE IRON PRIVATE LIMITED	Director	30/09/2006	19/10/2005	-	Active	NO
5	U29120OR2007PTC009219	RUNGTA MICRO IRRIGATION PRIVATE LIMITED	Director	14/03/2007	14/03/2007	-	Active	NO
6	U29248DL2007PTC165772	GLOBAL EARTH MOVERS PRIVATE LIMITED	Director	12/07/2007	12/07/2007	-	Active	NO
7	U40101OR1992PTC002992	KALINGA POWER CORPORATION PRIVATE LIMITED	Additional director	30/04/2012	30/04/2012	-	Active	NO

Name :

Mr. Devanand Mishra

Designation :

Director

Address :

Flat No.1339, Sector –D, Pockeat-1, Vasant Kunj, New Delhi -70, India

Date of Appointment :

29.07.2005

Din No.:

00229118

Name :

Ns. Shruti Rungta

Designation :

Whole-Time Director

Address :

S-75, Panchsheel Park, New Delhi-110017, India

Date of Birth/Age :

19.08.1981

Qualification :

B.B.A. & B.COM

Date of Appointment :

30.09.2010

Din No.:

00229045

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	U27109WB2004PTC139875	RAMGARH SPONGE IRON PRIVATE LIMITED	Director	28/09/2004	28/09/2004	20/07/2007	Active	NO
2	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Whole-time director	30/09/2010	28/09/2004	-	Active	NO

Name :

Ms. Priya Rungta

Designation :

Director

Address :

S-75, Panchsheel Park, New Delhi-110017, India

Date of Appointment :

30.09.2010

Din No.:

00234715

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	30/09/2010	28/09/2004	-	Active	NO
2	U29219AP1988PTC008819	JISL IRRIGATION Private LIMITED	Director	19/09/2005	19/09/2005	29/05/2009	Active	NO
3	U74899DL1993PTC055894	SAMARA REALTY PRIVATE LIMITED	Director	30/09/2006	20/07/2006	18/07/2007	Active	NO

Name :

Mr. Krishna Murthy Nagarur

Designation :

Director

Address :

Flat No.202, Block A, Street No.11, Vishnu, Residency, 1-1-7701A, Gandhi Nagar, Hyderabad, Andhra Pradesh, India

Date of Birth/Age :

15.06.1952

Qualification :

CA, CS & CWA

Date of Appointment :

05.08.2010

Din No.:

00255537

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	U29219AP1988PTC008819	JISL IRRIGATION Private LIMITED	Director	05/07/1988	05/07/1988	-	Active	NO
2	U03230KA1997PTC022012	TECHNOMARK TELEVISION NETWORK PRIVATE LIMITED	Director	25/03/1997	25/03/1997	-	Active	NO
3	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Managing director	05/08/2010	20/12/1997	-	Active	NO

Name :

Mr. Sheo Kumar Poddar

Designation :

Director

Address :

R -3C, Belar Apartment, Main Road, Ranchi -1, Jharkhand, India

Date of Appointment :

29.09.2009

Din No.:

00992376

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	U60210JH1994PTC005987	VASUDHA TRAVELS PRIVATE LIMITED	Director	20/07/1994	20/07/1994	-	Active	NO
2	U91110JH2001NPL012049	ASSOCIATED CHAMBER OF JHARKHAND INDUSTRIES	Director	06/02/2001	06/02/2001	-	Active	NO
3	U50401OR2006PTC009046	GARUDA VAHAN PRIVATE LIMITED	Director	01/12/2006	01/12/2006	-	Active	NO
4	U27106WB1974PLC029718	CENTURY ALUMINIUM MANUFACTURING CO LTD	Director	14/08/2007	14/03/2007	-	Active	NO
5	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	29/09/2009	31/07/2009	-	Active	NO

Name :

Mr. Tarun Kumar Megotia

Designation :

Whole-Time Director

Address :

S-75, Panchsheel Park, New Delhi-110017, India

Date of Birth/Age :

24.10.1987

Qualification :

Graduate

Date of Appointment :

05.08.2010

Din No.:

01098092

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Whole-time director	05/08/2010	16/12/2006	-	Active	NO
2	U29248DL2007PTC165772	GLOBAL EARTH MOVERS PRIVATE LIMITED	Director	12/07/2007	12/07/2007	-	Active	NO
3	U29120OR2007PTC009219	RUNGTA MICRO IRRIGATION PRIVATE LIMITED	Director	20/08/2008	20/08/2008	-	Active	NO
4	U65999WB1995PTC075994	PLEASURE INVESTMENT PVT LTD	Director	01/09/2009	09/09/2008	-	Active	NO

Name :

Mr. Prakash Kumar Megotia

Designation :

Director

Address :

707, Jeevandeep, Opposite JX Tower, Ring Road, Surat -395002. Gujarat, India

Date of Appointment :

30.09.2010

Din No.:

01130661

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	30/09/2010	16/12/2006	-	Active	NO

Name :

Mr. Mahavir Prasad Kaushik

Designation :

Director

Address :

B -145, 1^st Floor, Sector – 19, Noida, India

Date of Appointment :

21.09.2009

Din No.:

02775769

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	29/09/2009	31/07/2009	-	Active	NO

Name :

Mr. Vikash Kumar Megotia

Designation :

Director

Address :

A/1, Pallavi Apartment –CPP, Rundh, Jakatnaka Dumas Road, Piplod Surat -395007, Gujarat, India.

Date of Appointment :

30.09.2010

Din No.:

03169745

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	30/09/2010	30/04/2010	-	Active	NO

Name :

Mr. Manish Kumar

Designation :

Director

Address :

A/1, Pallavi Apartment –CPP, Rundh, Jakatnaka Dumas Road, Piplod Surat -395007, Gujarat, India.

Date of Appointment :

30.09.2010

Din No.:

02846102

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	30/09/2010	09/04/2010	-	Active	NO
2	U17119GJ1991PTC016734	PACHHIGAR FILAMENTS PRIVATE LIMITED	Director	30/11/2011	30/11/2011	29/02/2012	Active	NO

KEY EXECUTIVES

Name :	Sudha Gupta
Designation :	Secretary
Address :	A-3, Gali No.16, Mahndra Park, New Delhi -110033, India
Date of Appointment :	21.06.2011
Pan No.:	ASJPG9105H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2012

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Bodies Corporate	1783800	20.14
Any Others (Specify)	1609200	18.17
Directors/Promoters & their Relatives & Friends	1609200	18.17
Sub Total	3393000	38.31
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	3393000	38.31
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	66400	0.75
Financial Institutions / Banks	23933	0.27
Any Others (Specify)	50000	0.56
Stressed Assets Stabilisation Fund	50000	0.56
Sub Total	140333	1.58
(2) Non-Institutions
Bodies Corporate	4518606	51.02
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	707081	7.98
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	83600	0.94
Any Others (Specify)	13480	0.15
Non Resident Indians	11862	0.13
Hindu Undivided Families	1468	0.02
Clearing Members	150	0.00
Sub Total	5322767	60.10
Total Public shareholding (B)	5463100	61.69
Total (A)+(B)	8856100	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)	8856100	0.00

BUSINESS DETAILS

Line of Business :

Supplier and Manufacturer of Irrigation Systems and Pipe Fittings.

Products :

ITEM CODE NUMBER	PRODUCT DESCRIPTION
842400	Sprinkler and Drip Irrigation System
391700	PVC PIPES

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Sprinkler Irrigation System
i. Aluminium Pipe Coupling	No.	NA	55490
ii. HDPE Pipe Coupling	No.	NA	501006
HDPE Pipes, Coils and Fittings	MT	8220	1821
LLDPE Tubes/ Laterals	MT	750	258
PVC Pipes	MT	7500	1838

Note:

a. Installed capacity is as certified by the Management and not verified by the Auditors, being technical matter.

b. The Installed Capacity of coupling of Aluminium or HDPE Pipe is not ascertainable

c. The Production of HDPE, LLDPE and PVC Pipes etc. are accounted for in Nos. and Mtrs. and it is converted in MT for Balance Sheet purpose.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Allahabad Bank, Industrial Finance Branch, 17, Parliament Street, New Delhi - 110001, Delhi, India

Facilities :

Secured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Rupee term loans banks secured	5.363	8.364
Rupee term loans others secured	6.914	1.477
Working capital loans banks secured	94.120	54.881
Total	106.397	64.722

Unsecured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Rupee term loans others unsecured	0.930	0.930
Total	0.930	0.930

Banking Relations :	--
Auditors :
Name :	ANDROS and Company Chartered Accountant
Address :	B.O. : 304, Mohan Tower, 1-Community Centre, Wazirpur Industrial Area, Delhi-110052, India
Pan No.:	AABFS7061C
Associates/Subsidiaries :	· Ajanta Minerals · Kishan Maharaj and Company · Maruti Minerals · Ramgarh Sponge Iron Private Limited · Samara Realty Private Limited. · Rungta Carriers Limited · Rungta Micro Irrigation Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions
600000	Preference Shares	Rs.100/- each	Rs.60.000 Millions
	Total		Rs.160.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8856100	Equity Shares	Rs.10/- each	Rs.88.561 Million
334000	Preference Shares	Rs.100/- each	Rs. 33.400 Millions
	Total		Rs.121.961 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		121.961	121.959	102.538
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		433.680	417.567	359.157
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		555.641	539.526	461.695
LOAN FUNDS
1] Secured Loans		106.397	64.722	59.459
2] Unsecured Loans		0.930	0.930	1.273
TOTAL BORROWING		107.327	65.652	60.732
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		662.968	605.178	522.427
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		73.350	50.615	48.543
Capital work-in-progress		0.000	0.935	0.000
INVESTMENT		228.124	193.661	198.704
DEFERREX TAX ASSETS		1.702	2.559	2.465
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	103.952	74.452	82.097
	Sundry Debtors	188.019	170.059	130.540
	Cash & Bank Balances	31.775	22.178	17.651
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	148.679	173.812	106.742
Total Current Assets		472.425	440.501	337.030
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	41.063	14.046	8.224
	Other Current Liabilities	63.843	64.783	51.778
	Provisions	7.727	4.264	4.313
Total Current Liabilities		112.633	83.093	64.315
Net Current Assets		359.792	357.408	272.715
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		662.968	605.178	522.427

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	605.626	376.088
		Other Income	11.486	12.014
		TOTAL (A)	617.112	388.102	358.247
Less	EXPENSES
		Consumption materials changes inventories	429.062	212.867
		Manufacturing service costs	40.402	22.837
		Employee related expenses	29.618	23.488
		Administrative selling other expenses	77.997	102.872
			577.079
		Prior period items before tax	(0.166)	0.000
		TOTAL (B)	576.913	362.064	340.714
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		40.199	26.038	17.533
Less	FINANCIAL EXPENSES (D)		6.557	8.608	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		33.642	17.430	17.533
Less/ Add	DEPRECIATION/ AMORTISATION (F)		12.514	8.622	8.183
	PROFIT BEFORE TAX (E-F) (G)		21.128	8.808	9.350
Less	TAX (H)		5.014	2.276	3.453
	PROFIT AFTER TAX (G-H) (I)		16.114	6.082	5.897
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		33.135	27.053	21.156
	BALANCE CARRIED TO THE B/S		49.249	33.135	27.053
	Earnings Per Share (Rs.)		1.56	0.49	-

QUARTERLY / SUMMARISED RESULTS

PARTICULARS	30.06.2011	30.09.2011	31.12.2011	31.03.2012	30.06.2012	30.09.2012
	1^st Quarter	2nd Quarter	3rd Quarter	4th Quarter	5th Quarter	6th Quarter
Net sales	1.200	2.810	293.310	264.130	114.360	96.280
Total Expenditure	0.850	3.560	281.980	254.100	104.770	101.220
PBIDT (Excl OI)	0.350	(0.750)	11.330	10.030	9.590	(4.940)
Other Income	0350	0.410	5.600	2.450	1.700	8.930
Operating Profit	0.700	(0.350)	16.930	12.480	11.290	3.990
Interest	0.640	1.650	7.970	5.000	5.370	1.720
Exceptional terms	0.000	0.000	0.000	0.060	0.000	0.000
PBDT	0.060	(2.000)	8.960	7.540	5.920	2.270
Depreciation	0.000	0.000	3.920	4.390	3.420	3.680
PROFIT BEFORE TAX	0.060	(2.000)	5.030	3.150	2.510	(1.410)
Tax	0.000	0.000	0.000	0.950	0.810	0.0000
Provision and contingencies	0.000	0.000	0.000	0.000	0.000	0.000
Profit After Tax	0.060	(2.000)	5.030	2.200	1.690	(1.410)
Extra ordinary items	0.000	0.000	0.000	0.000	0.000	0.000
Prior Period Expense	0.000	0.000	0.000	0.000	0.000	0.000
Net Adjustments	0.000	0.000	0.000	0.000	0.000	0.000
Net Profit	0.060	(2.000)	5.030	2.200	1.690	(1.410)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.61	1.57	1.65
Net Profit Margin (PBT/Sales)	(%)	3.48	2.34	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.87	1.79	2.42
Return on Investment (ROI) (PBT/Networth)		0.04	0.02	0.02
Debt Equity Ratio (Total Liability/Networth)		0.40	0.28	0.27
Current Ratio (Current Asset/Current Liability)		4.19	5.30	5.24

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	No
Name of Person Contacted	No
Designation of contact person	No
Turnover of firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	No
Major Shareholders, if applicable	Yes
Date of Birth of Proprietor/Partner/Director, if available	Yes
PAN of Proprietor/Partner/Director, if available	No
Voter ID No of Proprietor/Partner/Director, if available	No
External Agency Rating, if available	Yes

REVIEW OF PERFORMANCE

The Sales turnover for the year was Rs. 617.113 Millions as compared to Rs. 388.102 Millions for the previous year. The Company was able to earn a profit after tax for the year is Rs. 16.113 Millions as against a profit of Rs. 6.082 Millions for the previous year.

FORM 8

Corporate identity number of the company	L74899DL1986PLC023934
Name of the company	RUNGTA IRRIGATION LIMITED
Address of the registered office or of the principal place of business in India of the company	101, Pragati Towers 26, Rajendra Place New Delhi – 110008, India Email: info@rungtairrigation.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80013308
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	Allahabad Bank, Industrial Finance Branch, 17, Parliament Street, New Delhi - 110001, Delhi, India Email: ifbnewdelhi@gmail.com
Date of instrument Creating the charge	11.10.2011
Amount secured by the charge	Rs. 220.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest BR+4.5% Margin As Per Terms of Sanction Others:
Short particulars of the property charged (Including location of the property)	E M of property situated at plot no. C-176 and 165, Bulandshehar road, Ghaziabad along with the factory building together with P and M constructed or erected or to be constructed or erected Hypothecation of all tangible movable plant and machinery, furniture and fittings, other installations, cranes, computers and other accessories lying in the premises at Delhi, Yanam, Gaziabad, Hyderabad Hypothecation of Movable goods and assets, both present and future including Raw material, work in progress and finished goods All the present and future book debts, outstanding, moneys receivables, claims, bill contracts, engagement and securites which are now due and owing and may become due in future.
Date of last modification prior to the present modification	19.01.2011
Particulars of the present modification	Charge Now Stands Increased to Rs. 220.000 Millions from Rs.190.000 Millions

Contingent liabilities not provided for:

a. Sales Tax Authorities have raised demand for Rs. 1.275 Millions ( Previous year Rs. 1.974 Millions for various assessment years and the matters are pending with Appellate Authorities and High Court. As per opinion, the appeals are likely to be decided in favour of the Company.

b. The Excise Department has raised a demand of Rs. 0.152 Millions against Service Tax on Transaction charges and the matters are pending with the appellate authorities. As per opinion, the appeals are likely to be decided in the favour of the Company (Previous Year: Rs. 0.152 Millions).

c. The company has given counter guarantee to the bankers against guarantees issued by Banks on behalf of the company amounting to Rs. 46.443 Millions (Previous Year: Rs. 35.190 Millions). The liability may arise in case of failure in supply of material or malfunctioning of products supplied by the Company.

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.54.78
UK Pound	1	Rs.87.48
Euro	1	Rs.70.88

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		36

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.