MIRA INFORM REPORT

Report Date :

27.09.2012

IDENTIFICATION DETAILS

Name :	ASIA MATCH COMPANY PRIVATE LIMITED
Registered Office :	17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.04.1971
Com. Reg. No.:	18-005975
Capital Investment / Paid-up Capital :	Rs. 7.200 Millions
CIN No.: [Company Identification No.]	U24291TN1971PTC005975
IEC No.:	0488012031
PAN No.: [Permanent Account No.]	AACCAZ744G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Safety Match sticks, Wax Match Sticks and Safety Match Machinery.
No. of Employees :	Approximately 3000

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 140000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

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

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

INDIAN ECONOMIC OVERVIEW

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

Source : CIA

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.

INFORMATION PARTED BY

Name :	Mr. Anandraj
Designation :	Accounts Manager
Contact No.:	91-4562-234000
Date :	13.09.2012

LOCATIONS

Registered Office/ Factory :	17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamilnadu, India
Tel. No.:	91-4562-222422
Fax No.:	91-4562-2272655/ 222056
E-Mail :	pioneev@pioneerasia.com finance@pioineerasia.com export@pioneerasia.com
Website :	http://www.pioneerasia.com
Area :	4 Acre
Location	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Sankaralingam Annamalai
Designation :	Director
Address :	Boopathy Building, 16, Virudh Nagar Road, Sivakasi-626123, Tamilnadu, India
Date of Birth/Age :	26.04.1947
Date of Appointment :	12.07.1972
DIN No.:	00001381

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	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	12/07/1972	12/07/1972	Active	NO
2	U24297TN1972PLC006245	PANDIAN CHEMICALS LIMITED	Director	29/09/1973	29/09/1973	Active	NO
3	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	Active	NO
4	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	Active	NO
5	U65993TN1984PTC010640	NIRANJAN SANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	Active	NO
6	U36911TN1987PLC014168	MEPCO INDUSTRIES LIMITED	Director	22/12/2006	25/03/1987	Active	NO
7	U20296TN1992PLC061574	PIONEER MARINE PRODUCTS LIMITED	Director	02/09/1992	02/09/1992	Active	NO
8	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	Active	NO
9	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	18/05/1994	18/05/1994	Active	NO
10	U28910TN1961PLC004478	THE METAL POWDER COMPANY LIMITED	Director	15/10/1994	15/10/1994	Active	NO
11	U40101TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	Active	NO
12	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	Active	NO
13	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	Active	NO
14	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	Active	NO
15	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	Active	NO
16	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	21/09/2005	21/09/2005	Active	NO
17	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Managing director	02/11/2006	02/11/2006	Active	NO
18	U31103TN1995PTC074436	TAMARAI HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	Active	NO
19	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	Active	NO
20	U74999TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	23/01/2008	23/01/2008	Active	NO
21	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	11/01/2010	11/01/2010	Active	NO
22	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	11/01/2010	11/01/2010	Active	NO
23	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	19/11/2010	19/11/2010	Active	NO
24	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Additional director	06/01/2012	06/01/2012	Active	NO
25	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Additional director	01/02/2012	01/02/2012	Active	NO
26	U74900TN2012PTC086873	VENNILA HOLDINGS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	Active	NO

Name :	Mr. Maheswaran Sankaralingam
Designation :	Director
Address :	174/A-1, Gagangiri Road, Sivakasi-626123, Tamilnadu, India
Date of Birth/Age :	07.09.1948
Date of Appointment :	12.07.1972
DIN No.:	00143046

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	U22121TN1968PTC005639	STANDARD PAPER CONTAINERS PRIVATE LIMITED	Director	14/08/1968	14/08/1968	Active	NO
2	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	12/07/1972	12/07/1972	Active	NO
3	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	Active	NO
4	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	20/11/1976	20/11/1976	Active	NO
5	L21012PY1974PLC000125	THE PONDICHERRY PAPERS LTD	Director	30/11/1976	30/11/1976	Active	NO
6	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	Active	NO
7	U65993TN1984PTC010638	PRADEEP SANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	Active	NO
8	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	Active	NO
9	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	04/12/1987	04/12/1987	Active	NO
10	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	Active	NO
11	U20296TN1992PLC061574	PIONEER MARINE PRODUCTS LIMITED	Director	02/09/1992	02/09/1992	Active	NO
12	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	Active	NO
13	U24292TN1993PLC024919	STANDARD PYROTECHNICS LIMITED	Director	30/01/1994	30/01/1994	Active	NO
14	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	Active	NO
15	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Whole-time director	01/04/2010	10/08/1995	Active	NO
16	U40101TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	Active	NO
17	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	Active	NO
18	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	Active	NO
19	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	Active	NO
20	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	Active	NO
21	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	07/08/2006	07/08/2006	Active	NO
22	U31103TN1995PTC074436	TAMARAI HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	Active	NO
23	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	Active	NO
24	U74999TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	23/01/2008	23/01/2008	Active	NO
25	U24291TN2008PTC068179	SOLOPIONEER MATCH PRIVATE LIMITED	Director	12/06/2008	12/06/2008	Active	NO
26	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	Active	NO
27	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	Active	NO
28	U22219TN2008PTC068796	BLUE HILLS ENTERPRISES PRIVATE LIMITED	Director	07/08/2008	07/08/2008	Active	NO
29	U93090TN1949GAP002688	ALL INDIA CHAMBER OF MATCH INDUSTRIES	Director	27/05/2010	27/05/2010	Active	NO
30	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	19/11/2010	19/11/2010	Active	NO
31	U74900TN2011PTC083535	TAMARAI FIREWORKS PRIVATE LIMITED	Director	01/02/2012	01/02/2012	Active	NO
32	U74999TN2011PTC083215	RHINO FIREWORKS PRIVATE LIMITED	Director	01/02/2012	01/02/2012	Active	NO
33	U74900TN2011PTC083146	PIONEER FIREWORKS PRIVATE LIMITED	Director	01/02/2012	01/02/2012	Active	NO
34	U74900TN2012PTC086873	VENNILA HOLDINGS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	Active	NO

Name :	Mr. Arunachalam Tenzing
Designation :	Director
Address :	‘Pioneer House’, 174-A, Gnanagiri Road, Viridhnagar, Sivakasi-626123, Tamilnadu, India
Date of Birth/Age :	17.06.1953
Date of Appointment :	20.08.1982
DIN No.:	00014412

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	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	Active	NO
2	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	20/08/1982	20/08/1982	Active	NO
3	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	20/08/1982	20/08/1982	Active	NO
4	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	Active	NO
5	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Director	16/03/1983	16/03/1983	Active	NO
6	U65993TN1984PTC010639	ARUNSANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	Active	NO
7	U27203TN1983PLC009916	ALUMINIUM POWDER COMPANY LIMITED	Director	01/08/1984	01/08/1984	Active	NO
8	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	Active	NO
9	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	04/12/1987	04/12/1987	Active	NO
10	U24292TN1990PTC019468	RAJARATNAM FIREWORKS PRIVATE LIMITED	Director	01/08/1990	01/08/1990	Active	NO
11	U28910TN1961PLC004478	THE METAL POWDER COMPANY LIMITED	Director	26/09/1990	26/09/1990	Active	NO
12	U24294TN1991PTC025332	VICTORY CHEMICALS PRIVATE LIMITED	Director	11/07/1991	11/07/1991	Active	NO
13	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	Active	NO
14	U20296TN1992PLC061574	PIONEER MARINE PRODUCTS LIMITED	Director	02/09/1992	02/09/1992	Active	NO
15	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	Active	NO
16	U24292TN1993PLC024919	STANDARD PYROTECHNICS LIMITED	Director	30/01/1994	30/01/1994	Active	NO
17	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	Active	NO
18	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	Active	NO
19	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	Active	NO
20	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	Active	NO
21	U28100TN1974PLC006569	NALCO METAL PRODUCTS LIMITED	Director	27/09/2001	27/09/2001	Active	NO
22	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	07/08/2006	07/08/2006	Active	NO
23	U22211TN2006PTC059398	VISALAKSHI ENTERPRISES PRIVATE LIMITED	Director	06/06/2007	06/06/2007	Active	NO

Name :	Mr. Ashok Sankarlingam
Designation :	Director
Address :	56, Shield Road, Sivakasai, Virudhnagar, Sivakasi-626123, Tamil Nadu, India
Date of Birth/Age :	25.03.1954
Date of Appointment :	20.08.1982
Date of Cessation :	31.12.2011
DIN No.:	00143164

KEY EXECUTIVES

Name :	Mr. Anandraj
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
S Annamalai	3120
S Maheshwaran	3120
A Tenzing	4800
S Ashok	3120
S Annamalai (HUF)	2280
S Mahewaran (HUF)	2280
S Ashok (HUF)	5280
A Tenzing (HUF)	6600
Niranjansankar Enterprises Private Limited, Tamilnadu, India	6000
Pradeepsankar Enterprises Private Limited, Tamilnadu, India	6000
Boopathy Investments Private Limited, Tamilnadu, India	6000
Arunshankar Enterprises Private Limited, Tamilnadu, India	6600
A Niranjanshankar	1500
M. Pradeepsankar	3000
T Arunsankar	10800
A Pramod Sankar	1500
TOTAL	72000

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	34.00
Directors or relatives of Directors	66.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Safety Match sticks, Wax Match Sticks and Safety Match Machinery.

Products :

· Safety Matches

· Cardboard Matches

· WAX Matches

· Kitchen Matches

· Barbeque Matches

· Advertising Matches

· Novelty Matches

· Safety Match Machinery

· Long Matches

Product Description	ITC Code
Safety Matches	360500-01

Terms :

Selling :

Cash, Credit

Purchasing :

Cash, Credit

GENERAL INFORMATION

Customers :

· Wholesales

· Retailers

No. of Employees :

3000 (Approximately)

Bankers :

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

· Indian Overseas Bank, Madurai Main Branch, 127, East Veli Street, Madurai-625001, Tamilnadu, India

· State Bank of India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From State Bank of India on mortgage of Company's properties and hypothecation of Stock-in-Trade and Stores-Guaranteed by Directors	19.759	27.097
From HDFC Bank
Term Loan on Mortgage of Shares	27.660	0.000
S.B.I. Term Loan-Machinery and Vehicles	1.345	2.970
TOTAL	48.764	30.067

Banking Relations :	--
Auditors :
Name :	S Chandrasekaran Chartered Accountant
Address :	12, Katha Nadar Street, Sivakasi-626123, Tamilnadu, India
PAN No.:	ABEPC3994J
Sister Concern :	Shri Ayyanar Address: 17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamil Nadu, India Activity: Manufacturer of Spining Mills.

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60000	Equity Shares	Rs.100/- each	Rs. 6.000 Millions
12000	Equity Shares	Rs.100/- each	Rs. 1.200 Millions
	TOTAL		Rs. 7.200 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		7.200	7.200	7.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		40.000	40.000	40.000
4] (Accumulated Losses)		(12.015)	(14.077)	(16.448)
NETWORTH		35.185	33.123	30.752
LOAN FUNDS
1] Secured Loans		48.764	30.067	24.496
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		48.764	30.067	24.496
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		83.949	63.190	55.248
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		60.919	59.351	59.127
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.617	5.118	4.921
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	44.000	42.852	43.947
	Sundry Debtors	148.515	96.142	80.616
	Cash & Bank Balances	7.704	6.194	14.804
	Other Current Assets	9.725	7.702	6.993
	Loans & Advances	3.118	3.279	4.394
Total Current Assets		213.062	156.169	150.754
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	181.079	146.635	149.004
	Other Current Liabilities	13.570	10.813	10.550
	Provisions	0.000	0.000	0.000
Total Current Liabilities		194.649	157.448	159.554
Net Current Assets		18.413	(1.279)	(8.800)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		83.949	63.190	55.248

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	596.358	473.226	340.964
		Other Income	10.738	10.269	8.491
		TOTAL	607.096	483.495	349.455
Less	EXPENSES
		Cost of Goods Sold	NA	243.281	148.206
		Raw Material Consumed		118.264	99.991
		Salaries, Wages and Bonus		41.135	37.490
		EPF, ESI and Amenities		10.158	8.956
		Printing Stationer and P and T Expenses		1.178	1.224
		Commission, Brokerage and Rebate		6.596	3.453
		Carriage Expenses		22.869	13.886
		Interest		10.245	9.575
		Other Expenses		21.192	21.040
		TOTAL	NA	474.918	343.821
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION			8.577	5.634
Less/ Add	DEPRECIATION/ AMORTISATION		NA	6.205	5.569
	PROFIT BEFORE TAX			2.372	0.065
Less	TAX			0.000	0.000
	PROFIT AFTER TAX		NA	2.372	0.065
	IMPORTS
		Raw Materials	NA	40.768	34.175
	TOTAL IMPORTS		NA	40.768	34.175
	Earnings Per Share (Rs.)		--	32.94	--

Particulars	31.03.2012
Sales Turnover (Approximately)	600.000

Expected Sales (2012-2013) : Rs. 630.000 Millions

The above information has been parted by Mr. Anandraj.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	0.49	0.02
Net Profit Margin (PBT/Sales)	(%)	NA	0.50	0.02
Return on Total Assets (PBT/Total Assets}	(%)	NA	1.10	0.03
Return on Investment (ROI) (PBT/Networth)		NA	0.07	0.002
Debt Equity Ratio (Total Liability/Networth)		6.92	5.66	5.98
Current Ratio (Current Asset/Current Liability)		1.09	0.99	0.94

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	Yes
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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last two 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	No
18]	Major customers	No
19]	Payments terms	Yes
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	No

FORM 8

Corporate identity number of the company	U24291TN1971PTC005975
Name of the company	ASIA MATCH COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamil Nadu, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	90286946
Type of charge	· Immovable property
Particular of charge holder	Indian Overseas Bank, Madurai Main Branch, 127, East Veli Street, Madurai-625001, Tamilnadu, India
Nature of instrument creating charge	Confirmation Letter Evidencing Creation of Supplemental Mortgage F 379 C Dated 31.10.2011
Date of instrument Creating the charge	31.10.2011
Amount secured by the charge	Rs. 800.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Cash Credit :- BR +3.00% (Presently 13.75% p.a ) Terms of repayment Cash Credit : On Demand Letter of Credit : On Respective Due Dates of LC Margin Cash Credit : On Stocks 25%, On Book Debts 30% Letter of Credit : 10% Extent and operation of the charge Extension of equitable mortgage of the company's land to an extent of 7.48 acres situated at Survey No.265, 269, 270 and 271, T.S.No.44, 45, 46 and 47 ward F Block No.3, Villampatti Road, Sivakasi Town, Sivakasi Taluk, Virudhunagar District, as security for the revised credit facility of Rs.800.000 Millions sanctioned by Indian Overseas Bank, Madurai branch to m/s. Pioneer Wincon Private Limited.
Short particulars of the property charged (Including location of the property)	Land to an Extent of 7.48 Acres Situated At Survey No.265, 269, 270 And 271, T.S.No.44,45,46 and 47 Ward F Block No.3, Villampatti Road, Sivakasi Town, Sivakasi Taluk, Virudhunagar District.
Date of instrument modifying the charge	23.07.2011
Particulars of the present modification	Extension of Equitable Mortgage of Land to an extent of7.48 Acres at Ward F Block No.3,Vilampatti Road, Sivakasi Taluk, Virudhunagar District, for revised limit of Rs. 800.000 Millions comprising 1. Cash Credit limit of Rs. 500.000 Millions. 2. Letter of Credit (I/F) Rs. 300.000 Millions. Total Limit Rs. 800.000 Millions sanctioned by Indian Overseas bank to M/s. Pioneer Wincon Private Limited.

AS PER WEBSITE

PROFILE

Incepted in 1945, they are one of the recognized manufacturers and exporters of safety match sticks, wax match sticks and safety match machinery. Under the table guidance and leadership of the founders, Shri K.A.A. Sankaralingam and Shri K.A.A. Arunachalam, they have marked an impressive and tremendous progress traditional business and various industrial activities.

Widening the horizon and utilizing the resources in the best manner, they have promoted the business activities to Sri Lanka, where in they have started a joint venture of manufacturing wax match sticks.

Boasting up of advanced production facilities capable of manufacturing bulk product in a short turn-around time, they have been able to meet the increasing demands of the clients with in a stipulated time frame.

The workforce forms an integral part of the organization and works diligently towards the growth of the company, by delivering a wide assortment of qualitative match boxes.

They have a sister concern M/S Tenzing Match Works which is the only ISO 9001 accredited manufacturer in the industry.

PRODUCT PROFILE:

Procuring superior quality raw material such as potassium chlorate, red phosphorous, glue, black manganese and sulphur from reliable vendors in the country, they have been able to deliver a flawless range of match sticks and related machineries. They manufactures and exports

· Safety Match Machinery

· Safety Match Sticks

· Wax Match Sticks

· Colored Match Sticks

· Book Match Sticks

Used in different commercial and domestic purposes, the range of match sticks and match boxes are known to possess following features:

· Easy to hold

· No smoldering even after burning

· Durable

· Long burning time

· Smooth and steady rate

· One time ignition

· Varying size and length

· Attractive and colorful packing

Moreover, they have the ability to get the range customized from the sources on the parameters of length, material of striking surface and packaging of the match box and sticks.

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. 53.57
UK Pound	1	Rs. 86.60
Euro	1	Rs. 68.93

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.