MIRA INFORM REPORT

Report Date :

01.10.2012

IDENTIFICATION DETAILS

Name :	FABTECH PROJECTS AND ENGINEERS LIMITED
Formerly Known As :	FABTECH PROJECTS AND ENGINEERS PRIVATE LIMITED
Registered Office :	J – 504, MIDC, Bhosari, Pune – 411026, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.06.2002
Com. Reg. No.:	25-017050
Capital Investment / Paid-up Capital :	Rs. 596.759 Millions
CIN No.: [Company Identification No.]	U29299PN2002PLC017050
TAN No.: [Tax Deduction & Collection Account No.]	PNEF00839G
PAN No.: [Permanent Account No.]	AAACF7903Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Mounded Bullets projects, Pressure Vessels, Heat Exchangers, Storage Vessels, Sphere and Mobile Tankers etc
No. of Employees :	600 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 4100000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. The company is doing well. Trade relations are reported as fair. Business is active. Payments are reported to be correct and as per commitments. The company can be considered normal for 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	FITCH
Rating	BBB (Good Credit Quality)
Rating Explanation	This rating indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.
Date	25.11.2011

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 :	J – 504, MIDC, Bhosari, Pune – 411026, Maharashtra, India
Tel. No.:	91-20-27474134/ 27474235/ 66113326 / 30614500
Mobile No.:	91-8975756484 (Mr. Vikas R)
Fax No.:	91-20-66113327/ 30614509/ 27458479
E-Mail :	iut@eth.net iut@vsnl.net info@fabtechprojects.com sales@fabtechprojects.com jobs@fabtechprojects.com sales@fabtechprojects.com pr@fabtechprojects.com
Website :	www.fabtechprojects.com
Location :	Owned
Factory :	Plot No. 1, 3 and 4, Gat No. 272/273, Nanekarwadi, Chakan, District Pune - 410501, Maharashtra, India
Tel. No.:	91-2135-395482 / 563052/ 665901 to 25
Fax No.:	91-2135-253833/ 286160

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Bira Anand Rupnar

Designation :

Chairman cum Managing Director

Address :

Plot No. 80, SNI 118 to 124, National Society, Anudh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

01.06.1960

Qualification :

B.E (Mech)

Date of Appointment :

11.06.2002

DIN No.:

01637615

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	U29299MH1997PTC109288	STELLAR ENGINEERING INDUSTRIES PRIVATE LIMITED	Managing director	08/07/1997	08/07/1997	-	Strike off	NO
2	U29299PN1998PTC012788	STEEL VISION INDIA PRIVATE LIMITED	Managing director	12/08/1998	12/08/1998	-	Active	NO
3	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Managing director	01/04/2011	11/06/2002	-	Active	NO
4	U17111PN2006PLC128836	ABHIJEET SPINNING MILLS INDIA LIMITED	Director	02/08/2006	02/08/2006	-	Strike off	NO
5	U15424PN2010PTC137545	FABTECH SUGAR PRIVATE LIMITED	Director	14/10/2010	14/10/2010	05/06/2012	Active	NO
6	U45200PN2011PTC138575	FABTECH INFRA PRIVATE LIMITED	Director	17/02/2011	17/02/2011	-	Active	NO
7	U17121PN2011PTC139171	FABTECH SPINNING MILLS PRIVATE LIMITED	Director	11/04/2011	11/04/2011	-	Active	NO
8	U55101PN2010PTC137961	PARINEETTA RESORTS PRIVATE LIMITED	Additional director	07/06/2012	07/06/2012	-	Active	NO

Name :

Mr. Parameswaran Hariharan Nurani

Designation :

Whole-time director

Address :

OM Eashwari Society, Building Bo 1, Flat No. 208, mahant Road, Vile Parle, Mumbai – 400057, Maharashtra, India

Date of Birth/Age :

31.12.1946

Qualification :

B.E. ( Mechanical)

Date of Appointment :

01.03.2006

DIN No.:

01727306

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Whole-time director	01/04/2011	01/03/2006	Active	NO

Name :

Mr. Rajabahu Ananda Rupnar

Designation :

Director

Address :

Prem Geet, Sector No-149/2, Flat No. 21, Ajmera Complex, Pimpri, Pune – 411018, Maharashtra, India

Date of Birth/Age :

47 Years

Qualification :

B.E. (Civil)

Date of Appointment :

11.06.2002

DIN No.:

01727729

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29299MH1997PTC109288	STELLAR ENGINEERING INDUSTRIES PRIVATE LIMITED	Director	08/07/1997	08/07/1997	Strike off	NO
2	U29299PN1998PTC012788	STEEL VISION INDIA PRIVATE LIMITED	Director	12/08/1998	12/08/1998	Active	NO
3	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Director	11/06/2002	11/06/2002	Active	NO
4	U15424PN2010PTC137545	FABTECH SUGAR PRIVATE LIMITED	Whole-time director	04/06/2012	14/10/2010	Active	NO
5	U45200PN2011PTC138575	FABTECH INFRA PRIVATE LIMITED	Director	17/02/2011	17/02/2011	Active	NO

Name :

Mr. Eshanya Biharilal Gupta

Designation :

Director

Address :

Sector No. 1 and 7, WIGH P-5, Flat No. 802, Empire Estate, Pimpri, Pune – 411018, Maharashtra, India

Date of Birth/Age :

01.11.1976

Qualification :

M.B.A.

Date of Appointment :

01.03.2006

DIN No.:

01727743

Name :

Mrs. Neelavarna Bira Rupnar

Designation :

Director

Address :

Plot No. 80, SNI 118 to 124, National Society, Anudh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

46 Years

Qualification :

M.Com

Date of Appointment :

11.06.2002

DIN No.:

01881679

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	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Director	11/06/2002	11/06/2002	-	Active	NO
2	U17111PN2006PLC128836	ABHIJEET SPINNING MILLS INDIA LIMITED	Director	02/08/2006	02/08/2006	-	Strike off	NO
3	U45200PN2011PTC138575	FABTECH INFRA PRIVATE LIMITED	Additional director	03/03/2011	03/03/2011	06/09/2011	Active	NO

Name :

Mrs. Manisha Sharad Chimbalkar

Designation :

Director

Address :

B1/502, Swapnanagri, Pimpri, Pune – 411018, Maharashtra, India

Date of Birth/Age :

14.03.1976

Qualification :

B.E. ( Chemical)

Date of Appointment :

01.04.2006

DIN No.:

01881691

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29299PN1998PTC012788	STEEL VISION INDIA PRIVATE LIMITED	Director	12/02/1999	12/02/1999	Active	NO
2	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Director	01/04/2006	01/04/2006	Active	NO

Name :

Mr. Bhausaheb Anandrao Rupanar

Designation :

Director

Address :

Plot No. 42, Pardeshi Nagar, Pandharpur - 413304, Maharashtra, India

Date of Birth/Age :

01.06.1957

Qualification :

B. Sc (Agriculture)

Date of Appointment :

01.01.2008

DIN No.:

02370193

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Director	22/09/2008	01/01/2008	Active	NO
2	U17121PN2011PTC139171	FABTECH SPINNING MILLS PRIVATE LIMITED	Director	11/04/2011	11/04/2011	Active	NO

Name :

Mr. Dayanand Pundlik Thorat

Designation :

Director Technical

Address :

Jai Ganesh Samrajya, Panjarpol, Wing F 13, R. No. 204, Bhosari, Pune – 411087, Maharashtra, India

Date of Birth/Age :

12.01.1977

Qualification :

B.E. (Mechanical)

Date of Appointment :

02.05.2009

DIN No.:

02647227

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Director	30/09/2009	02/05/2009	Active	NO

Name :

Mr. Sampat Shivaji Gawade

Designation :

Director

Address :

N/04, First Floor, Vishal Garden, Shikrapur Road, Chakan Khed, Pune – 412301, Maharashtra, India

Date of Birth/Age :

30.11.1970

Qualification :

M. Com

Date of Appointment :

01.04.2011

DIN No.:

02671275

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29299PN1998PTC012788	STEEL VISION INDIA PRIVATE LIMITED	Director	12/02/1999	12/02/1999	Active	NO
2	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Director	30/09/2011	01/04/2011	Active	NO

Name :

Mr. Raman Krishnan

Designation :

Director

Address :

Unit No.15, 2nd Floor, Stele Park, Plot No. 283/284, Sector 21, Nerul, Mumbai – 400706, Maharashtra, India

Date of Birth/Age :

15.06.1948

Qualification :

DME

Date of Appointment :

01.10.2009

DIN No.:

03275988

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29299PN2002PLC017050	FABTECH PROJECTS AND ENGINEERS LIMITED	Director	30/09/2010	01/10/2009	Active	NO

KEY EXECUTIVES

Name :	Mr. Vikas R
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Bira Ananda Rupnar	17629780
Rajabhau Ananda Rupnar	11321995
Neelavarna Bira Rupnar	15390858
Bhausaheb Ananda Rupnar	7888405
Parameshwaran Naurani Hariharan	62005
Manisha Sharad Chimbalkar	62005
Eshanya Gupta	62005
Anita Dube	3000
Amol S. Dhole	3000
Ashok Waghmode	3000
Balkrishna Magade	7500
Balu Dhaygude	3000
Deepak Bhanudas Rupnar	7500
Dilip Shendge	4500
Dayanand P. Thorat	62005
Gatkal Dattatray	3000
J P Rath	4500
Mahesh Gawade	3000
Prajakra Deodhar	4500
R. Krishnan	62005
Sallykutty Omen	7500
Sarika Malgaonkar	3000
Satish More	3000
Shailesh Deshmukh	3000
Shakuntala Sagar	289090
Sampat Shivaji Gawde	62005
S N Sawale	7500
Sunil Rupnar	7500
Surekha Jadhav	4500
Suvarna Kulkarni	4500
Vaishali Bidwai	7500
Vijay Sagar	325340
Dinesh Bhanudas Rupnar	360000
R B Industries thought its proprietor Mr. Rajabhau Ananda Rupnar	1400000
Steel Vision India Private Limited, India	4580000
Sanjay Ananda Rupnar	23900
Total	59675898

LIST OF ALLOTTEES AS ON 17.03.2012

Names of Allottees	No. of Shares
Bira Ananda Rupnar	150000
Rajabahu Ananda Rupnar	200000
Neelavarn Bira Rupnar	800000
Bhausaheb Ananda Rupnar	150000
Total	1300000

LIST OF ALLOTTEES AS ON 31.03.2012

Names of Allottees	No. of Shares
Bira Ananda Rupnar	880000
Rajabahu Ananda Rupnar	576000
Neelavarn Bira Rupnar	809500
Bhausaheb Ananda Rupnar	401900
Total	2667400

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	10.02
Directors or relatives of directors	89.30
Other top fifty shareholders	0.68
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Mounded Bullets projects, Pressure Vessels, Heat Exchangers, Storage Vessels, Sphere and Mobile Tankers etc

Products :

Item Code No.	Product Description
84198910	Pressure Vessel
73090040	Storage Tank
87163100	L P G Trailer
73110090	Container For Compressed L. Glass
52051110	Yarn
52029900	Waste

Import of :

Product :

Raw Material

Country :

Dubai

Terms :

Purchasing :

Cash, Credit

Selling :

Cash, Credit

PRODUCTION STATUS (As On 31.03.2011)

Particulars	Installed Capacity	Actual Production
Textile Division	4380 Tons	3225 Tons

Engineering Division

Particulars	Unit	Actual Production
Storage tanks and pressure vessels	Nos.	163
Project execution of large tanks / vessels	Nos.	---

Textile Division

Particulars	Unit	Actual Production
Yarns	Kgs	3211091
Wastage	Kgs	612725

GENERAL INFORMATION

 Suppliers :

Shah Brothers  

Customers :

Ø Indian Oil Corporation Limited

Ø HPCL - Mittal Energy Limited

Ø Hindustan Petroleum Corporation Limited

Ø Bharat Petroleum Corporation Limited

Ø Oil India Limited

Ø Ongc

Ø Ge Oil and Gas

Ø Cairn Energy System

Ø Uhde

Ø Kazstroy

Ø Metito

Ø Lind Engineering Private Limited

Ø Dresser Rand Private Limited

Ø Naftogaz

Ø Praxair India Limited

Ø Essar

Ø Mangalore Refineries and Petrochemicals Corporation Limited

Ø L and T Limited

Ø Crompton Greaves Limited

Ø Kochi Refineries Limited

Ø Bharat Shell Limited

Ø Thermax Limited

Ø Ion Exchange (India) Limited

Ø Aquatech Systems (Asis) Private Limited

Ø V A Tech Wabag Limited

Ø Praj Industries Limited

Ø Va Tech Hydro Flovess Limited

Ø Barc / Dae

Ø Globe Gas Equipments Industry Private Limited

Ø Super Gas

Ø Elf Gas

Ø Indian Navy

Ø Alkyl Amines and Chemicals Limited

Ø Hindustan Polyamides and Fibers Limited

Ø Galaxy Chemicals Limited

Ø Ador Technologies Limited

No. of Employees :

600 (Approximately)

Bankers :

Ø Bank of Maharashtra – Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India

Ø State Bank of India

Ø Axis Bank

Facilities :

Secured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Rupee term loans others secured	344.364	329.962
Working capital loans banks secured	79.652	28.325
Loans taken for vehicles secured	8.214	8.248
Loans taken for other fixed assets secured	145.071	61.955
Other debt secured	712.505	681.536
Total	1289.806	1110.026

Unsecured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Public deposits unsecured	0.000	0.000
Other debt unsecured	63.571	54.404
Total	63.571	54.404

Banking Relations :

--

Auditors :

Name :

R. M. Rajapurkar and Company

Chartered Accountant

Address :

1 – Regent Avenue, Sambhaji Chowk, Pradhikaran, Nigdi, Pune – 411044, Maharashtra, India

Tel. No.:

91-20-27651074

E-Mail :

ravi.rajapurkar@gmail.com

Income-tax PAN of auditor or auditor's firm :

AANPD2738B

Associates :

Ø Steel Vision India Private Limited

Ø R. B. Industries

Ø Sparkon Engineers

CAPITAL STRUCTURE

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
75,000,000	Equity Shares	Rs. 10/- each	Rs. 750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
63,643,298	Equity Share	Rs.10/- each	Rs. 636.433 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
75,000,000	Equity Shares	Rs. 10/- each	Rs. 750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
59,675,898	Equity Share	Rs.10/- each	Rs. 596.759 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		596.759	144.678	66.373
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		425.675	522.013	305.339
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1022.434	666.691	371.712
LOAN FUNDS
1] Secured Loans		1289.806	1110.026	544.198
2] Unsecured Loans		63.571	54.404	13.249
TOTAL BORROWING		1353.377	1164.430	557.447
DEFERRED TAX LIABILITIES		37.168	16.546	3.723
TOTAL		2412.979	1847.667	932.882
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		863.750	539.392	171.991
Capital work-in-progress		79.413	122.006	192.578
INVESTMENT		39.410	30.171	13.671
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	157.859	132.424	218.408
	Sundry Debtors	786.439	747.482	481.269
	Cash & Bank Balances	531.286	527.835	133.054
	Other Current Assets	1283.204	957.212	951.924
	Loans & Advances	487.420	178.400	94.973
Total Current Assets		3246.208	2543.353	1879.628
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1236.233	876.206	1015.571
	Other Current Liabilities	555.028	502.727	309.181
	Provisions	31.801	15.067	7.747
Total Current Liabilities		1823.062	1394.000	1332.499
Net Current Assets		1423.146	1149.353	547.129
MISCELLANEOUS EXPENSES		7.260	6.745	7.513
TOTAL		2412.979	1847.667	932.882

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales and Services	3806.827	2697.589	1735.239
		Other Income	18.583	12.966	6.772
		TOTAL (A)	3825.410	2710.555	1742.011
Less	EXPENSES
		Material costs	2078.485	1390.585	983.060
		Employee costs	182.206	176.895	60.001
		Manufacturing costs	856.955	565.868	366.455
		Administration costs, selling and distribution costs	181.056	172.251	85.406
		TOTAL (B)	3298.702	2305.599	1494.922
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		526.708	404.956	247.089
Less	FINANCIAL EXPENSES (D)		92.968	29.389	15.916
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		433.374	375.567	231.173
Less/ Add	DEPRECIATION/ AMORTISATION (F)		93.708	32.232	11.858
	PROFIT BEFORE TAX (E-F) (G)		340.032	343.335	219.315
Less	TAX (I)		122.597	113.120	61.417
	PROFIT AFTER TAX (G-I) (J)		217.435	230.215	157.898
Less	APPROPRIATIONS		17.773	7.765	0.000
	BALANCE CARRIED TO THE B/S		199.662	222.450	157.898
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	62.291	60.539
	TOTAL EARNINGS		NA	62.291	60.539
	IMPORTS
		Purchases of raw material	134.886	46.564	471.267
		Capital Goods (Textile)	88.901	30.760	30.760
	TOTAL IMPORTS		223.787	77.324	502.027
	Earnings Per Share (Rs.)		14.90	34.45	23.79

Particulars	31.03.2012
Sales Turnover	4610.000

Expected Sales (2013-2014): Rs.5000.000 Millions

The above information has been parted by ___________________________.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.68	8.49	9.06
Net Profit Margin (PBT/Sales)	(%)	8.93	12.73	12.64
Return on Total Assets (PBT/Total Assets}	(%)	8.27	10.93	10.69
Return on Investment (ROI) (PBT/Networth)		0.33	0.51	0.59
Debt Equity Ratio (Total Liability/Networth)		3.11	3.84	5.08
Current Ratio (Current Asset/Current Liability)		1.78	1.82	1.41

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	Yes
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS:

During the year ended on 31st March.2011 Sales and Other Income amounted to Rs. 3825.410 Millions in comparison to Rs. 2710.555 Millions in the previous year. Company has made net profit of Rs 217.435 Millions in comparison to Net profit of Rs 230.215 Millions in the previous year.

Company is taking necessary steps to increase its profitability by imposing strict control over overheads.

FUTURE PLANS:

Company is taking necessary steps to collaborate with other parties to increase operations and earn sufficient margins on its operations and to control overheads.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number (CIN) Foreign company registration number	U29299PN2002PLC017050
Name of the Company	FABTECH PROJECTS AND ENGINEERS LIMITED
Address	J-504, MIDC, Bhosari, Pune – 411026, Maharashtra, India
This form is for	Creation of Charge
Type of Charge	Book Debts Movable Property (not being pledge)
Particulars of the charge holder	Bank of Maharashtra – Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India E-mail : iut@eth.net
Nature or description of the instrument(s) creating or modifying the charge	Composite Deed of Simple Mortgage By Borrower and Guarantors To Secure All Credit Facilities
Date of the instrument creating or modifying the charge	25.01.2010
Amount secured by the charge	Rs.450.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Extent and operations of the charge: Bank of Maharashtra Cash Credit - Rs. 100.000 Millions Letter of credit - Rs. 1780.000 Millions Bank Guarantee - Rs. 2550.000 Millions Term Loan for Textile Division - Rs. 280.000 Millions New Term Loan for Chakan - Rs. 150.000 Millions ---------------------------------------------------------------- Rs. 4860.000 Millions Others STATE OF BANK Cash Credit Rs. 350.000 Millions Credit Exposure Limit FC Rs. 7.000 Millions Letter of credit Rs. 650.000 Millions Bank Guarantee Rs. 2450.000 Millions Term Loan Textile Division Rs. 220.000 Millions SLC Rs. 50.000 Millions New Term Loan Rs. 200.000 Millions ---------------------------- Rs. 3927.000 Millions ( Grand Total – 87870.000 Millions)
Short particulars of the property charged (including location of the property)	All that piece and parcel of land known as Plot No J-504 in the Pimpri Industrial Area, within the village limits of Bhosari District Pune admn. 1225 sq.mtr. All that piece and parcel of land known as Plot No J-505 in the Pimpri Industrial Area, within the village limits of Bhosari District Pune admn. 680 sq. mtr. All that piece and parcel of land known as Plot No 4 of Gat No 272 and 273 (Old Gat no 2135 and 2133) at Nanekarwadi, Village Chakan, Taluka Khed, District Pune admn 3235.37 sq.mtr. Properties situated at Gat No 620/5 1 H 43 R, Gat No 620/6A 1 H 43 R and Gat No 620/6B1 H 43 R of village Ekhatpur, Taluka Sangola, District Sholapur All that piece and parcel of land being sub Plot 1 of Plot No 3 out of Gat No 2134 and 2133(Old No 458/6)at Nanekarwadi, Village Chakan, Taluka Khed admn1277.25 Sq.mtr Prop R.B. Industries All that piece and parcel of land known as Plot No 4 of Gat No 272 and 273 (Old Gat no 2133 and 2134) at Nanekarwadi, Village Chakan, Taluka Khed, District Pune admn 2910 sq.mtr in name of Steel Vision India P ltd. The whole of current assets namely stock of raw materials, stock in process, semi finished and finished goods, stores and spares not relating to plant and machinery, bill receivable, book debts. All other movable, both present and future lying loose or lying or stored in Borrower's factories, premises and godown situated at Pune and Sholapur.
Date of instrument modifying the charge	19.03.2011
Particulars of the present modification	By present agreements dtd.12.04.2012, total credit limits has been enhanced from Rs.7987.000 Millions to Rs. 8787.000 Millions. The total credit limit of Bank of Maharashtra has been enhanced from Rs. 4020.000 Millions to Rs. 4860.000 Millions and total credit facilities of State Bank of India has been reduced from Rs. 3967.000 Millions to Rs. Rs. 3927.000 Millions.

CONTINGENT LIABILITY:

a. Un-expired Bank Guarantees Rs. 2498.352 Millions and Letter of Credit Rs.784.889 Millions (Total-3283.241 Millions) (Previous year BG Rs. 2325.634 Millions and LC Rs. 423.162 Millions) as per information and explanation given.

b. Claims against companies not admitted as debts Nil as per information and explanation given.

c. Disputed taxation, Income Tax, Excise, Sales Tax, etc Nil as per information and explanation given.

d. Estimated amount of contracts remaining to be executed on capital account Rs.10.845 Millions (Advance given to Kirloskar Toyoda and Lakshmi Machine Works for Machinery)

FIXED ASSETS:

• Land
• Office Building
• Factory Building
• Furniture and Fixture
• Vehicles
• Plant and Machinery
• Electrical Installations
• Office Equipment
• Computers and Peripherals

PRESS RELEASE:

Fabtech gets orders worth Rs 3900.000 Millions from GAIL, IOC

To invest Rs 850.000 Millions in the new plant at Chakan

BS Reporter / Mumbai/ Pune Feb 29, 2012, 00:06 IST

City-based Fabtech Projects and Engineers Limited, an engineering, procurement, construction and commissioning company has bagged two major contracts worth Rs 3900.000 Millions from the public sector companies Gas Authority of India Ltd (GAIL) and Indian Oil Corporation Ltd (IOC).

The company has bought 15 acres of land near its existing works at Chakan to set up manufacturing facilities for the machinery and equipment required for the oil and gas sector and for the production of nuclear power station items. Investments worth Rs 850.000 Millions has been made in creating this infrastructure. This new plant will be ready in the next 12-15 months.

The contract from GAIL is worth Rs 2300.000 Millions and is about installing cross-country pipeline from Coimbatore to Bangalore with 24-inch diameter and 340-kilometer length for the transmission of natural gas from Kochi Terminal.

The IOC contract worth Rs 1600.000 Millions is for creating LPG storage that involves construction of LPG Mounded Storage System at various locations in the country with five locations in North East, one in Central India and two in southern part of the country.

Speaking on this, N P Hariharan, joint managing director, Fabtech said, "These two orders are indeed very significant for us as the order from GAIL marks our foray in the pipeline business and we foresee good opportunities for Fabtech in this sector, which is likely to grow steadily in the next 3-5 years, as the Indian Government is planning to set up a national gas grid having over 10,000 kilometers of pipelines. Secondly, the cross-country pipelines business from the oil and gas sector is also expected to be more than Rs 150000.000 Millions." Fabtech is executing the cross-country pipeline project for GAIL in consortium with Zangas, Russia, which will be providing the required technical services for the project. The current order book of Fabtech is of Rs 18000.000 Millions.

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. 52.70
UK Pound	1	Rs. 85.71
Euro	1	Rs. 68.15

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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

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.