MIRA INFORM REPORT

Report Date :

17.10.2012

IDENTIFICATION DETAILS

Name :	CHANDRA PROTECO LIMITED
Registered Office :	2B, Grant Lane, R No. 35, 2^nd Floor, Near Bentick Street, Kolkata – 700012, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.12.2004
Com. Reg. No.:	21-100708
Capital Investment / Paid-up Capital :	Rs. 150.417 Millions
CIN No.: [Company Identification No.]	U27109WB2004PLC100708
TAN No.: [Tax Deduction & Collection Account No.]	CALC04720C
PAN No.: [Permanent Account No.]	AACCC5301K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of wide range of Copper Products
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 4200000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears a huge external borrowing recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

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

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

INDIAN ECONOMIC OVERVIEW

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

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	A4+ Short term Bank 7ac
Rating Explanation	Minimal degree of safety. It carry very high credit risk and susceptible to default.
Date	September 2012

Rating Agency Name	CARE
Rating	B Long term Bank 7ac
Rating Explanation	High risk of default.
Date	September 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	2B, Grant Lane, R No. 35, 2^nd Floor, Near Bentick Street, Kolkata – 700012, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@chandraproteco.com
Website :	www.chandraproteco.com www.chandra-group.com s
Corporate Office :	272,7th Floor, Building 2, Solitaire Corporate Park, Andheri Kurla Road, Andheri (East), Mumbai-400093, Maharashtra, India
Tel. No.:	91-22-42291961 / 3
Fax No.:	91-22-42291962
E-Mail :	info@chandra-group.com
Administrative Office :	18, MNNIT Industrial Estate, Teliraganj, Allahabad – 211004, Uttar Pradesh, India
Factory 1/ Technology Centre :	Survey No. 139 / 2, Athola Silvassa, Silvassa – 396230, Union Territory of Dadra and Nagar Havel, India
Tel. No.:	91-260-2632672 / 73 / 74
Fax No.:	91-260-2632403
Factory 2 :	1, 2, 5, 6 & 7 MNNIT Industrial Estate, Teliarganj, Allahabad - 211004, Uttar Pradesh, India
Tel. No.:	91-532-2545851/ 2545783/ 3290370
Fax No.:	91-532-2545784

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Mukul Gupta

Designation :

Managing director

Address :

53, Tagore Town, Allahabad - 211002, Uttar Pradesh, India

Date of Birth/Age :

13.08.1964

Qualification :

ME

Date of Appointment :

14.12.2006

DIN No.:

00125788

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	U51109UP1989PTC011296	CHANDRA ELECTROMAG PRIVATE LIMITED	Director	31/05/2010	19/10/1989	Active	NO
2	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Director	17/08/2011	02/06/2003	Active	NO
3	U67120WB1994PTC061576	SARADA CONFIN PRIVATE LIMITED	Director	24/03/2004	24/03/2004	Active	NO
4	U51109WB1994PTC062235	HARI VYAPAAR PRIVATE LIMITED	Director	24/03/2004	24/03/2004	Active	NO
5	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Managing director	01/06/2010	14/12/2004	Active	NO
6	U51909WB1995PTC072706	VIRTUOUS HOLDINGS PRIVATE LIMITED	Director	24/08/2006	24/08/2006	Active	NO
7	U51909WB2010PTC149036	RAMESHWAR DEALTRADE PRIVATE LIMITED	Director	25/01/2012	25/01/2012	Active	NO
8	U51109WB2008PTC130034	FAVOURITE AGENCY PRIVATE LIMITED	Director	25/01/2012	25/01/2012	Active	NO
9	U74120WB2008PTC122703	BAHAR FINANCIAL ADVISORS PRIVATE LIMITED	Director	25/01/2012	25/01/2012	Active	NO
10	U51101WB2010PTC149827	ABHIRUCHI ISPAT TRADER PRIVATE LIMITED	Director	25/01/2012	25/01/2012	Active	NO
11	U51109WB2008PTC122454	PRAGATI DEALCOMM PRIVATE LIMITED	Director	16/07/2012	16/07/2012	Active	NO

Name :

Mr. Ranjeet Gupta

Designation :

Director

Address :

53, Tagore Town, Allahabad - 211002, Uttar Pradesh, India

Date of Birth/Age :

15.08.1948

Qualification :

LLB, PGD (HR)

Date of Appointment :

17.08.2011

DIN No.:

00125826

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	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Managing director	22/07/1993	22/07/1993	Active	NO
2	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Director	17/08/2011	14/12/2004	Active	NO
3	U65923WB1995PLC072708	DATUM SECURITIES LIMITED	Director	01/09/2005	01/09/2005	Active	NO

Name :

Mr. Anilesh Gupta

Designation :

Director

Address :

53, Tagore Town, Allahabad - 211002, Uttar Pradesh, India

Date of Birth/Age :

29.07.1961

Qualification :

M. Com, PGDBA

Date of Appointment :

17.08.2011

DIN No.:

00127601

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	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Director	17/08/2011	14/12/2004	Active	NO
2	U51109WB1994PTC062235	HARI VYAPAAR PVT LTD	Director	15/07/2005	15/07/2005	Active	NO
3	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Director	28/09/2006	07/08/2006	Active	NO
4	U51909WB1995PTC072706	VIRTUOUS HOLDINGS PRIVATE LIMITED	Director	17/06/2008	17/06/2008	Active	NO

Name :

Mrs. Aparna Gupta

Designation :

Whole-time director

Address :

53, Tagore Town, Allahabad - 211002, Uttar Pradesh, India

Date of Birth/Age :

02.05.1968

Qualification :

B. Com, MBA

Date of Appointment :

14.12.2004

DIN No.:

00127607

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	U51109UP1989PTC011296	CHANDRA ELECTROMAG PRIVATE LIMITED	Director	02/12/1996	02/12/1996	Active	NO
2	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Whole-time director	14/12/2004	14/12/2004	Active	NO
3	U65923WB1995PLC072708	DATUM SECURITIES LIMITED	Director	01/09/2005	01/09/2005	Active	NO
4	U52190WB2010PTC149564	FARISTA MARKETING PRIVATE LIMITED	Director	23/12/2011	23/12/2011	Active	NO
5	U51109WB2008PTC121997	VISION COMMOTRADE PRIVATE LIMITED	Director	16/07/2012	16/07/2012	Active	NO

Name :

Mr. Jagdish Kumar Kesarwani

Designation :

Director

Address :

53, Tagore Town, Allahabad - 211002, Uttar Pradesh, India

Date of Birth/Age :

04.11.1946

Qualification :

Master in Electronics

Date of Appointment :

01.09.2011

DIN No.:

00141394

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	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Director	17/08/2011	01/07/2001	Active	NO
2	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Whole-time director	01/09/2011	14/12/2004	Active	NO
3	U67120WB1994PTC061576	SARADA CONFIN PRIVATE LIMITED	Director	24/03/2006	24/03/2006	Active	NO
4	U51109UP1989PTC011296	CHANDRA ELECTROMAG PRIVATE LIMITED	Director	07/03/2007	07/03/2007	Active	NO

Name :

Mrs. Rina Bharat Kaushal

Designation :

Director

Address :

Siddhivinayak, 2/4 Sarvapriya Vihar, New Delhi - 110016, India

Date of Birth/Age :

21.12.1970

Qualification :

M. Com, MBA

Date of Appointment :

14.12.2004

DIN No.:

01022840

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	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Director	14/12/2004	14/12/2004	-	Active	NO
2	U64203DL2006PTC154735	NEXT GENERATION TELECOMMUNICATIONS INDIA PRIVATE LIMITED	Director	30/11/2006	30/11/2006	22/08/2008	Active	NO
3	U72900DL2001PTC112327	VAVASI TELEGENCE PRIVATE LIMITED	Director	22/03/2007	22/03/2007	22/08/2008	Active	NO

KEY EXECUTIVES

Name :	Brijesh Kumar Singh
Designation :	Company Secretary
Address :	Village Bhua Khurd, P.O. Khapraha, Jaunpur- 222131, Uttar Pradesh, India
Date of Appointment :	01.11.2007
PAN No.:	BJWPS6147J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Jagdish Kumar Kesarwani	94025
Ranjeet Gupta	78700
Anilesh Gupta	77500
Mukul Gupta	91125
Madhu Keserwani	3000
Ruchi Gupta	2000
Preeti Gupta	3190
Aparna Gupta	5900
Manoj Kumar Gupta	2000
Hari Vyapar Private Limited, India	3793590
Sharda Confin Private Limited, Bengal, India	3856875
Datum Securities Limited, India	4703425
Virtuous Holdings Private Limited, India	401310
Winning Colors Pte Limited, Singapore	1422830
Vedik Holdings Private Limited, India	506250
Total	15041720

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	9.46
Bodies corporate	88.17
Directors or relatives of directors	2.36
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of wide range of Copper Products

Products :

ITC Code	Product Descriptions
C-1422	Copper Conductors

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity
Copper Conductors	MT	4750	7000

GENERAL INFORMATION

Customers :

Ø ABB

Ø AREVA

Ø BHEL

Ø Delhi Metro

Ø Ircon International Limited

Ø Crompton Greaves

Ø Waukesha

No. of Employees :

Not Available

Bankers :

Ø Bank of India, Andheri Mid Corporate Branch, BOI Building, 2^nd Floor, 28, S.V. Road, Andheri, Mumbai – 400058, Maharashtra, India

Ø IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks secured	942.998	773.064
Working capital loans banks secured	764.387	274.726
Total	1707.385	1047.790
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans directors unsecured	9.863	9.358
Other debt unsecured	147.970	133.371
Total	157.833	142.729

Banking Relations :	--
Financial Institution :	Global Trade Finance Limited, 6^th Floor, Metropolitan Building, Bandra - Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Auditors :
Name :	Ashok Usha Jain and Company Chartered Accountants
Address :	Janki Bhawan, 171 Oldkatra, Allahabad – 211002, Uttar Pradesh, India
Mobile No.:	91-9415324124
Income-tax PAN of auditor or auditor's firm :	AAKFA2166K

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
21,000,000	Equity Shares	Rs. 10/- each	Rs. 210.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15,041,720	Equity Shares	Rs.10/- each	Rs. 150.417 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		150.417	136.809	123.039
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		922.394	532.634	215.492
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1072.811	669.443	338.531
LOAN FUNDS
1] Secured Loans		1707.385	1047.790	451.440
2] Unsecured Loans		157.833	142.729	149.482
TOTAL BORROWING		1865.218	1190.519	600.922
DEFERRED TAX LIABILITIES		65.841	28.822	19.864
TOTAL		3003.870	1888.784	959.317
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1652.622	541.201	534.315
Capital work-in-progress		0.000	856.848	0.000
INVESTMENT		89.493	1.482	0.998
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	267.246	133.156	140.177
	Sundry Debtors	1365.623	508.159	474.671
	Cash & Bank Balances	192.473	62.161	22.975
	Other Current Assets	4.340	3.492	33.285
	Loans & Advances	144.252	55.356	33.445
Total Current Assets		1973.934	762.324	704.553
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	675.067	248.142	260.292
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	39.894	27.111	21.442
Total Current Liabilities		714.961	275.253	281.734
Net Current Assets		1258.973	487.071	422.819
MISCELLANEOUS EXPENSES		2.782	2.182	1.185
TOTAL		3003.870	1888.784	959.317

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	4060.301	2178.163	1334.148
		Other Income	6.599	21.614	29.674
		TOTAL (A)	4066.900	2199.777	1363.822
Less	EXPENSES
		Consumption materials changes inventories	3036.448	1654.784
		Manufacturing service costs	372.724	205.698
		Employee related expenses	36.015	16.062
		Administrative selling other expenses	78.268	37.971
		Research development expenditure	0.202	0.150
		TOTAL (B)	3523.657	1914.665	1158.448
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		543.243	285.112	205.374
Less	FINANCIAL EXPENSES (D)		248.932	120.573	106.648
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		294.311	164.539	98.726
Less/ Add	DEPRECIATION/ AMORTISATION (F)		40.414	21.990	20.412
	PROFIT BEFORE TAX (E-F) (G)		253.897	142.549	78.314
Less	TAX (H)		59.518	23.959	8.067
	PROFIT AFTER TAX (G-H) (I)		194.379	118.590	70.247
Less	DEFERRED TAX		0.000	0.000	11.658
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		159.578	48.991	17.600
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	20.000
		Proposed Dividend on equity shares	7.521	6.840	6.152
		Tax on Dividend	1.220	1.163	1.046
	BALANCE CARRIED TO THE B/S		345.216	159.578	48.991
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	996.400	424.395	751.569
	IMPORTS
		Raw Materials		12.169	1.819
		Capital Goods		550.699	31.481
	TOTAL IMPORTS		262.500	562.868	33.3
	Earnings Per Share (Rs.)		12.92	8.67	6.19

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.78	5.39	5.15
Net Profit Margin (PBT/Sales)	(%)	6.25	6.54	5.87
Return on Total Assets (PBT/Total Assets}	(%)	7.00	10.94	6.32
Return on Investment (ROI) (PBT/Networth)		0.24	0.21	0.23
Debt Equity Ratio (Total Liability/Networth)		2.41	2.19	2.61
Current Ratio (Current Asset/Current Liability)		2.76	2.77	2.50

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	No
17]	Major suppliers	No
18]	Major customers	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

PERFORMANCE OVERVIEW

The performance of the company during 2010-11 was largely on expected lines and well on the projected recovery track. Effective utilization of critical equipment contributed to the improved performance. The company successfully enhanced its annual capacity to produce Copper Conductors from 5000 MT to 20000 MT in the month of July, 2010. Expansion Plan is completed in record time of 12 months. State-of-the-art facility for 800 and 1200 KV class conductors at Chandra Proteco Limited was inaugurated by Governor of Commonwealth of Kentucky, US His Excellency Hon’ble Steve Beshear in October, 2010.

During the year, the company achieved a total turnover of Rs. 4060.300 Millions as compared to Rs. 2178.200 Millions in the last year, and as such registered a growth of around 86%.

The Company discharged all its financial obligations and statutory liabilities in time without any default, including payment of installments and interest.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U27109WB2004PLC100708
Name of the company	CHANDRA PROTECO LIMITED
Address of the registered office or of the principal place of business in India of the company	2B, Grant Lane R No. 35, 2^nd Floor, Kolkata – 700012, West Bengal, India Email: info@chandraproteco.com
This form is for	Creation of charge
Type of charge	Book Debts
Particular of charge holder	Bank of India, Andheri Mid Corporate Branch, BOI Building, 2^nd Floor, 28, S.V. Road, Andheri, Mumbai – 400058, Maharashtra, India Email: Mcb.andheri@bankofindia.co.in
Nature of description of the instrument creating or modifying the charge	1. Deed of Guarantee. 2. Form of Guarantee- Letter of credit where more persons are involved other than one guarantee. 3. Sanction Letter. 4. Hypothecation cum Loan Agreement.
Date of instrument Creating the charge	17.09.2011
Amount secured by the charge	Rs. 60.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest on Additional LC carries 50% of normal rates. Terms of Repayment Additional LC - as per terms of sanction. Margin Additional LC: 10% in TDRs Extent and Operation of the charge First pari-passu hypo charge on the entire stocks, book- debts and other CA of the Company, both present and future, with other consortium members. Others Personnel Guarantee: 1. Mr. J.K. Kesarwani 2. Mr. Ranjeet Gupta 3. Mr. Mukul Gupta 4. Mr. Anilesh Gupta 5. Mr. Aparna Gupta
Short particulars of the property charged	First pari-passu hypo charge on the entire stocks, book- debts and other CA of the Company, both present and future, with other consortium members.

FIXED ASSETS:

Ø Land

Ø Building

Ø Plant and Machinery

Ø Furniture and Fixture

Ø Vehicles

Ø Computers

WEBSITE DETAILS

PROFILE:

Subject is engaged in the manufacturing of copper conductors and other allied products primarily used in the power sector for generation/ transmission/distribution and in Railway Electrification.

The Company produces various types of copper conductors of both covered and bare types. The company started its commercial production in December 2006 and in a very short span it managed to qualify various global audits for its quality of product and process and proved its technology worldwide. 

CTC and VCTC have been long awaited, indispensable components for usage in the World’s power sector as these conductors contribute towards the high performance of heavy-duty/ industrial transformers.

Subject is proud to have commenced and catalyzed the process of innovating and providing cutting-edge, latest technology to the transformer industry, which is paramount to developing the power infrastructure world-wide.

The manufacturing facility of subject is located in Silvassa, Union Territory of Dadra and Nagar Haveli, only 180 km on a well-developed road network from the main port and the financial capital of India, Mumbai. The manufacturing facility is fully integrated with complete R&D/Technology Centre, Training Centre, Administrative block, large area for storage of finished goods and a workshop/ production line spread in the sprawling campus of over 350,000 sq. ft. (32,500 sq.m.) Current plant capacity is approximately 30,000 metric tons per year.

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. 52.82
UK Pound	1	Rs. 84.96
Euro	1	Rs. 68.61

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		31

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.