MIRA INFORM REPORT

Report Date :

15.10.2012

IDENTIFICATION DETAILS

Name :	UP TWIGA FIBER GLASS LIMITED
Registered Office :	9 Sikandrabad Industrial Area , District Bulandshahar, Bulandshahar-203205, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.05.1976
Com. Reg. No.:	20-004284
Capital Investment / Paid-up Capital :	Rs.81.779 millions
CIN No.: [Company Identification No.]	U26101UP1976PLC004284
PAN No.: [Permanent Account No.]	AAACU4290P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Glass Wool Insulation.
No. of Employees :	Not Available

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 3410000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	A+ (Term Loan)
Rating Explanation	Adequate degree of safety it carry low credit risk
Date	09.11.2011

Rating Agency Name	CRISIL
Rating	A1 (Bank Guarantee)
Rating Explanation	Very Strong degree of safety it carry lowest credit risk
Date	09.11.2011

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/ Factory 1 :	9 Sikandrabad Industrial Area , District Bulandshahar, Bulandshahar-203205, Uttar Pradesh, India
Tel. No.:	91-5735-222385/224136/222374
Fax No.:	91-5735-222509
E-Mail :	accounts@twigafiber.com twiga.amb@vsnl.net
Head Office :	Twiga House, 3 Community Centre, East of Kailash, New Delhi 110 065, India
Tel. No.:	91-11-2646 0860
Fax No.:	91-11-2643 1588/ 2622 6474
E-Mail :	marketing@twigafiber.com
Factory 2 :	N-40 Additional Ambernath Industrial Area, MIDC, Shill Badlapur Road, Ambernath East, Than-421506, Maharashtra, Indai
Tel. No.:	91- 251-2620 484/85/86/47
Fax No.:	91- 251-262 0171
E-Mail :	twiga.amb@vsnl.net
Branches :	Kolkata: Flat No. 16, 6th Floor, Shantiniketan, 8, Camac Street, Kolkata 700017, India Tel. No.: 91-33-22829245 Fax No.: 91-33-22829530 E-Mail :twigakol@dataone.in Ahmedabad: 4/4, Shreeji House, Behind M.J. Library , Ellis Bridge, Ahmedabad 380 006, India Tel. No.: 91-79-26575422 Fax No.: 91-79-26575298 E-Mail : twigaahmedabad@dataone.in Mumbai: 502, Tulsiani Chambers, Plot No. 212, Block III, Backbay Reclamation, Nariman Point, Mumbai 400021, India Tel. No.: 91-22-22833951/22835073 Fax No.: 91-22-22837487 E-Mail : twigamumbai@hathway.com Hyderabad: House No. 6-3-668/10/33, Durganagar Colony, Punjagutta, Hyderabad 500082, India Tel. No.: 91-40-66689527 Fax No.: 91-40-23416689 E-Mail : twiga_hyd@dataone.in Bangalore: No. 28/3, 1st Floor,23rd Cross, Banashankari II nd Stage Main Road, [Near State Bank of India], Bangalore 560070, India Tel. No.: 91-80-26712510/ 26712188  Fax No.: 91-80-26712188 E-Mail : twigabangalore@bsnl.in Chennai: No. 16, 2nd Floor, Mahalingapuram Main Road, Mahalingapuram, Chennai- 600034, India Tel. No.: 91-44-28171945/42059700/28171944 Fax No.: 91-44-28171946 E-Mail : twiga.chennai@airtelmail.in

DIRECTORS

As on 31.07.2012

Name :

Mr. Pradip Devram Somaia

Designation :

Managing director

Address :

11, Southern Avenue, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

21.10.1934

Qualification :

B Sc

Date of Appointment :

01.01.2010

DIN No.:

00059321

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Managing director	01/01/2010	23/12/1995	-	Active	NO

Name :

Mr. Binoy Somaia

Designation :

Managing director

Address :

11, Southern Avenue, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

24.08.1970

Qualification :

M Eng, University of London and MBA,

Harvard

Date of Appointment :

31.07.2012

PAN No.:

AASPS8237K

DIN No.:

00059139

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Managing director	31/07/2012	30/09/2006	-	Active	NO
2	U32201DL2007PTC158737	ANITHEO MEDIA PRIVATE LIMITED	Director	03/02/2007	03/02/2007	-	Strike off	NO

Name :

Mr. Bejul Somaia

Designation :

Director

Address :

11, Southern Avenue, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

27.11.1972

Qualification :

BSc (Econ.), LSE and MBA,

Harvard

Date of Appointment :

31.07.2009

PAN No.:

ABDPS5006N

DIN No.:

00059201

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Director	31/07/2009	30/09/2006	-	Active	NO
2	U32201DL2007PTC158737	ANITHEO MEDIA PRIVATE LIMITED	Director	03/02/2007	03/02/2007	-	Strike off	NO
3	U45102MH2008NPL182811	INDIA WALL AND CEILING ASSOCIATION	Director	29/05/2008	29/05/2008	19/09/2011	Active	NO
4	U55101DL2007PTC168788	GREAT INDIAN RESTAURANT COMPANY PRIVATE LIMITED	Director	05/12/2008	30/08/2008	-	Active	NO
5	U74140DL2007PTC223394	LIGHTSPEED ADVISORY SERVICES INDIA PRIVATE LIMITED	Managing director	25/09/2009	01/12/2008	-	Active	NO
6	U74999MH2006PLC160835	ITZ CASH CARD LIMITED	Nominee director	17/08/2009	22/07/2009	-	Active	NO
7	U74999MH2007PLC169201	INDIAN ENERGY EXCHANGE LIMITED	Director	28/09/2011	30/09/2010	-	Active	NO
8	U93090MH2011PTC218163	ONEASSIST CONSUMER SOLUTIONS PRIVATE LIMITED	Director	08/07/2011	08/07/2011	-	Active	NO
9	U74900KA2011PTC061168	FASHIONARA ENTERPRISES PRIVATE LIMITED	Director	28/05/2012	28/05/2012	-	Active	NO

Name :

Mr. Narendra Nath Goyal

Designation :

Whole-time director

Address :

F-93, Sector-39, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

06.08.1946

Qualification :

B. Tech (Mech), DBM

Date of Appointment :

31.07.2012

PAN No.:

AADPG8975B

DIN No.:

00049959

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	U74899DL1969PLC005030	M G ELECTRONICS LIMITED	Director	06/11/1997	06/11/1997	-	Active	NO
2	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Whole-time director	31/07/2012	30/09/2006	-	Active	NO
3	U26100DL1970NPL005313	ALL INDIA GLASS MFRS'. FEDERATION.	Director	21/09/2007	21/09/2007	-	Active	NO

Name :

Mr. Gurmit Singh Bains

Designation :

Whole-time director

Address :

Staff Quarters Works U.P. Twiga Fiber Glass Limited, 9-Sikandrabad Industrial Area, Bulandshahr-203205, Uttar Pradesh, India

Date of Birth/Age :

02.02.1943

Qualification :

F.I.E., C. Engg. A.M. Ae. S.I.

Date of Appointment :

31.07.2012

PAN No.:

ACXPB6385N

DIN No.:

00031195

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Whole-time director	31/07/2012	30/09/2006	-	Active	NO

Name :

Mr. Shiv Rattanvir Kessar

Designation :

Director

Address :

D-105, Som Vihar, RK Puram, New Delhi-110022, India

Date of Birth/Age :

20.01.1926

Qualification :

Doctor in Medicine (ENT)

Date of Appointment :

30.09.2008

DIN No.:

00097796

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Director	30/09/2008	30/09/2006	25/08/2011	Active	NO

Name :

Mr. Prabhu Dutt

Designation :

Director

Address :

C-1/1557, Vasant Kunj, New Delhi-110070, India

Date of Birth/Age :

08.11.1950

Qualification :

Bsc (Hons) Physics, MBA

Date of Appointment :

23.07.2010

DIN No.:

00031147

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Director	23/07/2010	30/09/2006	-	Active	NO
2	U70101DL2005PTC139259	PERFECTIONS BUILDTECH PRIVATE LIMITED	Director	30/09/2010	02/04/2007	-	Active	NO
3	U70101DL2005PTC132322	EVEREST BUILDWELL PRIVATE LIMITED	Director	30/09/2010	27/12/2007	-	Active	NO
4	U92199DL1999PTC102156	AERENS ENTERTAINMENT ZONE PRIVATE LIMITED	Alternate director	12/08/2010	01/05/2009	14/08/2010	Active	NO
5	U70100PB2004PTC027762	A.V.M. LAND DEVELOPERS PRIVATE LIMITED	Additional director	15/06/2009	15/06/2009	-	Amalgamated	NO
6	U74900DL2008PTC183482	INNOVATIVE KIDS ZONE PRIVATE LIMITED	Additional director	13/08/2010	15/06/2009	24/09/2010	Active	NO
7	U72200DL2008PTC183479	INNOVATIVE EDUCITY PRIVATE LIMITED	Additional director	13/08/2010	15/06/2009	24/09/2010	Active	NO
8	U45403DL2006PTC149780	AEREN R INTERIORZ PRIVATE LIMITED.	Additional director	13/08/2010	15/06/2009	-	Strike off	NO
9	U63040DL2008PTC183484	PROACTIVE LOGISTICS SERVICES PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
10	U45201DL2000PTC106462	CROWN PROMOTORS PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
11	U45201DL2004PTC130371	CANVAS BUILDCON PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
12	U92199DL1997PTC085976	MP FILMS PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
13	U45200DL2006PTC156249	YASHRAJ BUILDCON PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
14	U45201DL2000PTC106464	SARVOCH PROMOTORS PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
15	U45201DL2005PTC138881	AEREN R CITY PLANNERS AND DEVELOPERS PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
16	U74900DL2008PTC183477	AEREN R MEDICITY PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
17	U00500DL2005PTC138883	AEREN R TOWNSHIP PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
18	U45201DL2004PTC128377	PIVOT BUILDCON PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
19	U74899DL1995PTC069928	RIDHI SIDHI PROPERTIES PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
20	U74899DL1995PTC070106	SHAGUN BUILDWELL PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
21	U45201DL2000PTC106448	SMART ESTATES PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
22	U45200DL2006PTC156403	YASHVARDHAN INFRASTRUCTURE DEVELOPERS PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
23	U45200DL2006PTC156268	YASHRAJ PROMOTERS PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
24	U45200DL2006PTC156275	YASHVARDHAN REALTORS PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
25	U45200DL2006PTC156269	YASHVARDHAN TOWNSHIP PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
26	U70102DL2008PTC183590	OPTUME MARKETING PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
27	U70101DL2005PTC138329	SAPTGIRI BUILDCON PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
28	U45201DL2004PTC128376	SAMPARK BUILDCON PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
29	U70101DL2006PTC148442	AEREN R MALLZ PRIVATE LIMITED.	Director	29/09/2010	15/06/2009	-	Active	NO
30	U55101DL2002PTC114603	AEREN R ENTERTAINMENT PRIVATE LIMITED.	Director	30/09/2010	15/06/2009	-	Amalgamated	NO
31	U70101DL1994PLC041346	AERENS DEVELOPERS AND ENGINEERS LIMITED	Director	29/09/2009	15/06/2009	-	Active	NO
32	U65910DL1990PLC041943	PARSWANATH FINLEASE LIMITED	Director	30/09/2009	15/06/2009	-	Active	NO
33	U50300DL2000PTC108301	SUPER CINEMA PRIVATE LIMITED	Director	30/09/2009	15/06/2009	-	Active	NO
34	U70200DL2008PTC183480	AEREN R REALTY PROJECTS PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
35	U45201DL2004PTC130372	SHREE MAHESH REALTORS PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
36	U74899DL2005PTC138328	HIMGIRI REALTORS PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
37	U70101DL2005PTC139000	AEREN R REALTORS PRIVATE LIMITED	Director	30/09/2009	15/06/2009	05/12/2009	Active	NO
38	U55101DL1996PTC083398	JAIPUR CENTRE DEVELOPERS PRIVATE LIMITED	Director	30/09/2009	15/06/2009	15/10/2009	Active	NO
39	U74899DL1995PTC063955	A.R. DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Amalgamated	NO
40	U51109DL1996PTC159496	AEREN R ENTERPRISES PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
41	U40101DL2008PTC183510	AEREN R BUSINESS CITY PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
42	U45200DL2006PTC156030	YASHRAJ ESTATES PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
43	U92111DL2000PTC107338	PMC ENTERTAINMENT PRIVATE LIMITED	Director	30/09/2010	15/06/2009	-	Active	NO
44	U74140DL2008PTC183481	AEREN R CAPITAL CONSULTANCY PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
45	U45201DL2005PTC138882	AEREN R BUILDCON PRIVATE LIMITED	Director	29/09/2010	15/06/2009	-	Active	NO
46	U45402DL1996PTC080779	VISAGE PROPERTIES PRIVATE LIMITED	Director	27/08/2009	27/08/2009	29/09/2009	Active	NO
47	U74999DL2009PTC192054	AEREN R LOGISTICS & INFRASTRUCTURE PRIVATE LIMITED	Director	30/09/2010	16/08/2010	-	Active	NO
48	U45201DL2006PTC146734	BETTEROPTION ESTATES PRIVATE LIMITED	Additional director	01/03/2011	01/03/2011	28/09/2011	Active	NO
49	U70101DL2011PTC216189	FORTUNE ONE DEVELOPERS PRIVATE LIMITED	Director	21/03/2011	21/03/2011	-	Active	NO
50	U70101DL2011PTC214682	TRIPLE A DEVELOPERS PRIVATE LIMITED	Additional director	02/04/2012	02/04/2012	-	Active	NO
51	U45400DL2008PTC172999	V R PROCUREMENT CORPORATION PRIVATE LIMITED	Additional director	01/06/2012	01/06/2012	-	Active	NO
52	U74899DL1995PTC064067	VOLITION CREDIT AND HOLDINGS PRIVATE LIMITED.	Additional director	23/07/2012	23/07/2012	-	Active	NO
53	U67190DL2009PTC194086	SRK FINANCIAL ADVISORS PRIVATE LIMITED	Additional director	04/09/2012	04/09/2012	-	Active	NO
54	U51909DL2012PTC242326	AU COURANT EXIM PRIVATE LIMITED	Director	14/09/2012	14/09/2012	-	Active	NO
55	AAA-8948	CLOUD INFRAREALTY VENTURES LLP	Designated Partner	25/04/2012	25/04/2012	-	Active	NO
56	AAB-0354	CONGLOMERATE ADVISORS LLP	Body corporate as Designated Partner	25/07/2012	25/07/2012	-	Active	NO

Name :

Mr. Padmakar Ramchandra Latey

Designation :

Director

Address :

Flat No-9, Building No.1, River View Apartments, North Main Road, Koregaon Park, Pune-411001, Maharashtra, India

Date of Birth/Age :

22.02.1930

Qualification :

Post Graduate

Date of Appointment :

30.09.2008

DIN No.:

00082269

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Director	30/09/2008	19/06/1992	28/08/2011	Active	NO

Name :

Mr. Aditya Pratap Tripathi

Designation :

Additional director

Address :

D-157, Defence Colony, New Delhi-110024, India

Date of Birth/Age :

05.02.1969

Qualification :

Bsc Hons, MBA

Date of Appointment :

31.07.2008

DIN No.:

02259975

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	U26101UP1976PLC004284	UP TWIGA FIBER GLASS LIMITED	Additional director	31/07/2008	31/07/2008	-	Active	NO
2	U74999DL2010PTC202446	RISHIDHAM HOLDINGS PRIVATE LIMITED	Director	10/05/2010	10/05/2010	08/12/2010	Active	NO
3	U80300DL2012PTC240511	OKS EDUCATION PRIVATE LIMITED	Director	22/08/2012	22/08/2012	-	Active	NO
4	U74140DL2012PTC243155	OKS LEGAL SOLUTIONS PRIVATE LIMITED	Director	04/10/2012	04/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Naresh Kumar Sharma
Designation :	Secretary
Address :	G-21A, Kalkaji, New Delhi-110019, India
Date of Birth/Age :	24.04.1978
Date of Appointment :	12.02.2009
PAN No.:	AYQPS9648N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 15.07.2011

NOTE: SHAREHOLDERS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 31.07.2012

Category	Percentage
Government Companies	5.32
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	91.97
Bodies corporate	0.68
Other top fifty shareholders	0.44
Others	1.59
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Glass Wool Insulation.

Products :

Indian Trade Classification (ITC) Code	Products or Description
701910	Glass Fiber Products

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Registered Capacity	Installed Capacity	Actual Production
Glass Fiber	M.T.	20000	16800	12328.407

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank Of India, Commercial Branch, A- 5 South Extension, Pary-1, New Delhi-110049, India

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	129.779	176.801
Other debt secured	^(A) 0.835	^(B) 43.157
Total	130.614	219.958

Footnotes

(A) Includes Cash Credit of Rs. 0.835 Millions and Buyer's Credit of Rs. 0

(B) Includes Cash Credit of Rs. 38.069 Millions and Buyer's Credit of Rs. 5.088 Millions

Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Other debt unsecured	2.000	2.000
Total	2.000	2.000

Banking Relations :	--
Auditors :
Name :	Kumar Grover and Company Chartered Accountants
Address :	107, Kailash Hills, New Delhi-110065, India
PAN No.:	AAAFK6217B
Associates:	M G Electronics Limited [U74899DL1969PLC005030]

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
13750000	Equity Shares	Rs.10/- each	Rs.137.500 Millions
125000	Preference Shares	Rs.100/- each	Rs.12.500 Millions
	Total		Rs.150.000 Millions

Issued Capital :

No. of Shares	Type	Value	Amount
8228325	Equity Shares	Rs.10/- each	Rs.82.283 Millions

Subscribed Paid-up Capital :

No. of Shares	Type	Value	Amount
8172625	Equity Shares	Rs.10/- each	Rs.81.726 Millions
	Add: Forfeited Shares 52750		Rs.0.053Millions
	Total		Rs.81.779 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		81.779	81.779	81.779
2] Share Application Money		0.000	0.000	50.000
3] Reserves & Surplus		770.760	686.468	618.611
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		852.539	768.247	750.390
LOAN FUNDS
1] Secured Loans		130.614	219.958	256.233
2] Unsecured Loans		2.000	2.000	2.000
TOTAL BORROWING		132.614	221.958	258.233
DEFERRED TAX LIABILITIES		51.712	55.887	56.374
TOTAL		1036.865	1046.092	1064.997
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		599.363	694.439	764.247
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.372	0.372	0.372
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	215.551	165.312	158.012
	Sundry Debtors	238.559	202.791	154.183
	Cash & Bank Balances	88.275	70.324	49.318
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	174.353	124.056	156.949
Total Current Assets		716.738	562.483	518.462
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	84.318	69.402	138.290
	Other Current Liabilities	80.817	67.737
	Provisions	114.473	74.063	79.794
Total Current Liabilities		279.608	211.202	218.084
Net Current Assets		437.130	351.281	300.378
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1036.865	1046.092	1064.997

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1140.156	981.739	1021.814
		Other Income	18.765	11.445	15.073
		TOTAL (A)	1158.921	993.184	1036.887
Less	EXPENSES
		Consumption materials changes inventories	365.169	306.727	875.505
		Manufacturing service costs	410.483	338.096
		Employee related expenses	114.878	101.573
		Administrative selling other expenses	68.418	55.413
		Exceptional income expense	(5.023)	(5.816)
		Prior period items before tax	(0.495)	2.181
		TOTAL (B)	953.430	798.174	875.505
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		205.491	195.010	161.382
Less	FINANCIAL EXPENSES (D)		21.643	26.969	32.681
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		183.848	168.041	128.701
Less/ Add	DEPRECIATION/ AMORTISATION (F)		62.163	66.916	71.464
	PROFIT BEFORE TAX (E-F) (G)		121.685	101.125	57.237
Less	TAX (I)		36.397	32.272	23.877
	PROFIT AFTER TAX (G-I) (J)		85.288	68.853	81.114
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		642.059	573.206	492.092
	BALANCE CARRIED TO THE B/S		727.347	642.059	573.206
	EARNINGS IN FOREIGN CURRENCY
		FOB value of exports	46.067	60.617	NA
	TOTAL EARNINGS		46.067	60.617	NA
	IMPORTS
		Raw Materials	159.709	156.480
		Components and Spare Parts	22.698	14.790
		Capital Goods	0.000	0.000
	TOTAL IMPORTS		182.407	171.27	NA
	Earnings Per Share (Rs.)		10.44	8.42	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	7.36	6.93	7.82
Net Profit Margin (PBT/Sales)	(%)	10.67	10.30	5.60
Return on Total Assets (PBT/Total Assets}	(%)	9.25	8.05	4.46
Return on Investment (ROI) (PBT/Networth)		0.14	0.13	0.08
Debt Equity Ratio (Total Liability/Networth)		0.48	0.56	0.63
Current Ratio (Current Asset/Current Liability)		2.56	2.66	2.38

LOCAL AGENCY FURTHER INFORMATION

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

Management Discussion and Analysis

The Company has adequate MIS and internal control system commensurate with its size and volume of business. The ISO 9001:2000 certification by Bureau Veritas Quality International re-validated upto 08-12-2012, continues to help in both domestic and international market.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U26101UP1976PLC004284
Name of the company	UP TWIGA FIBER GLASS LIMITED
Address of the registered office or of the principal place of business in India of the company	9 Sikandrabad Industrial Area , District Bulandshahar, Bulandshahar-203205, Uttar Pradesh, India Email: accounts@twigafiber.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90279362
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge · Current and Fixed Assets
Particular of charge holder	State Bank Of India, Commercial Branch, A- 5 South Extension, Pary-1, New Delhi-110049, India Email: sunil.punni@sbi.co.in
Nature of instrument creating charge	C-5 ( Letter Regarding The Grant of Individual Limits Within The Overall Limit)
Date of instrument Creating the charge	06.04.2012
Amount secured by the charge	Rs.255.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit :- BR+3.00% presently effective @13.00% p.a. and Term Loan :-BR+3.75% presently effective@ 13.75% p.a.on monthly rest specified by the bank from time to time. Terms of Repayment Working capital :- on demand . Term Loan :- As per existing repayment schedule. Margin Raw material Domestic -25% Raw material imported -10% Stock in process -40% Finished goods -30% Book debts -30% ( Cover period 75 Days ) LC/BG-10% Extent and Operation of the charge 100%
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Working capital:-First charge on stocks of raw materials, store, spares, work in progress, receivables and all other current assets both present and future. Extension of charge on entire fixed assets of the company. Term Loan:-1)First charge on entire fixed assets of the company present and future including EM of factory land and building situated at N-40 MIDC Industrial Area, Ambernath, Distt Thane, Maharashtra (excluding factory land and building situated at 9, Sikandarabad Industrial Area, Distt Bulandshaher. 2)Negative lien on factory land and building situated at 9, Sikandarabad Industrial Area, Distt Bulandshaher(U.P) Extension of charge on entire current assets of the company.
Particulars of the present modification	Total Credit facilities revised/ modified of Rs.255.500 millions as follows :- . Cash Credit (Stocks) Rs.100.000 Millions Cash Credit ( Book debts ) Rs.(50.000) Millions Bills purchased and discounting of Rs.(30.000) Millions Term Loan existing Rs100.500 Millions Bank guarantee Rs.10.000 Millions LC and Buyers credit Rs.45.000 Millions with full interchangeability between LC/BG limits. TOTAL Rs.255.500 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.84.51
Euro	1	Rs.68.16

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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
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.