MIRA INFORM REPORT

Report Date :

27.09.2012

IDENTIFICATION DETAILS

Name :	BALA INDUSTRIES AND ENTERTAINMENT PRIVATE LIMITED (w.e.f. 26.10.2010)
Formerly Known As :	VJ EQUIPMENT PRIVATE LIMITED (w.e.f. 31.03.2009) VJ EQUIPMENT LIMITED SAAB POWERTECH PRIVATE LIMITED
Registered Office :	Venkateshwara House, Survey No. 114/A/2, Pune – Sinhagad Road, Pune – 411 030, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.03.1988
Com. Reg. No.:	11-020677
Capital Investment / Paid-up Capital :	Rs. 7.500 Millions
CIN No.: [Company Identification No.]	U74999PN1988PTC020677
TAN No.: [Tax Deduction & Collection Account No.]	PNEV00039E
PAN No.: [Permanent Account No.]	AAACV7248J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Poultry Equipments.
No. of Employees :	125 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 440000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual tarde 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

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. Vikas
Designation :	Marketing Manager
Contact No.:	91-9860730309
Date :	13.09.2012

LOCATIONS

Registered/ Corporate Office :	Venkateshwara House, Survey No. 114/A/2, Pune – Sinhagad Road, Pune – 411 030, Maharashtra, India
Tel. No.:	91-20-24251530-41 / 91-2114-255384 / 255366 / 4332530 / 4331453
Mobile No.:	91-9860730309 (Mr. Vikas)
Fax No.:	91-20-24251077 / 91-2114-255043 / 4332287
E-Mail :	vikas.bhat@venkys.com corp.sec@venkys.com vjvr@vsnl.net
Website :	http://www.venkys.com
Location :	Owned
Factory :	Gat No. 88, Village Jambhul, Taluka Maval, District Pune – 412 106, Maharashtra, India
Tel. No.:	91-2114-255042 / 255366 / 255384 / 286520 / 286522
Fax No.:	91-2114-255043

DIRECTORS

AS ON 04.07.2011

Name :

Mrs. Anuradha Jitendra Desai

Designation :

Director

Address :

Venkatesh Farms, S. No. 95/1, NDA Road, Village Mauje Warje, Taluka Haveli, Pune – 411 029, Maharashtra, India

Date of Birth/Age :

15.05.1962

Date of Appointment :

14.03.1996

DIN No.:

00012212

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	U01222AP1971PTC001422	VENKATESHWARA HATCHERIES PRIVATE LIMITED	Managing director	27/10/1983	27/10/1983	Active	NO
2	U07222PN1980PTC017423	VENCO RESEARCH AND BREEDING FARM PRIVATE LIMITED	Director	03/12/1984	03/12/1984	Active	NO
3	L01222PN1976PLC017422	VENKY'S (INDIA) LIMITED	Director	02/12/1988	02/12/1988	Active	NO
4	U65999MH1987PTC023309	SRIVENK INVESTMENTS AND FINANCE PRIVATE LIMITED	Director	29/01/1991	29/01/1991	Active	NO
5	U74999PN1988PTC020677	BALA INDUSTRIES AND ENTERTAINMENT PRIVATE LIMITED	Director	14/03/1996	14/03/1996	Active	NO
6	U01222PN1980PTC017494	VENKATESHWARA RESEARCH AND BREEDING FARM PRIVATE LIMITED	Director	15/03/1996	15/03/1996	Active	NO
7	U29299PN1993PTC020678	VENKATESHWARA ENGINEERING INDUSTRIES PRIVATE LIMITED	Director	18/03/1996	18/03/1996	Amalgamated	NO
8	U15400AP1982PLC070673	AGROCORPEX INDIA LIMITED	Director	23/03/1996	23/03/1996	Active	NO
9	U15332MH1996PTC099964	UTTARA FOODS AND FEEDS PRIVATE LIMITED	Director	04/06/1996	04/06/1996	Active	NO
10	U67120MH1982PTC027946	VENKA INVESTMENTS PRIVATE LIMITED	Director	30/06/1997	30/06/1997	Amalgamated	NO
11	U92111MH1998PTC114045	BALA ENTERTAINMENT INTERNATIONAL PRIVATE LIMITED	Director	19/03/1998	19/03/1998	Amalgamated	NO
12	U01222AP2000NPL035402	POULTRY DEVELOPMENT PROMOTION COUNCIL	Director	05/10/2000	05/10/2000	Active	NO
13	U15332PN2002PTC016680	B.V. BIO-CORP PRIVATE LIMITED	Director	15/01/2002	15/01/2002	Active	NO
14	U74220PN2002NPL017463	NATIONAL AGRICULTURE AND FOOD ANALYSIS AND RESEARCH INSTITUTE	Director	13/12/2002	13/12/2002	Active	NO
15	U55101MH2000PLC187834	LAVASA CORPORATION LIMITED	Director	24/02/2003	24/02/2003	Active	NO
16	U15136PN2004PTC018753	UTTARA MASALA PRODUCTS PRIVATE LIMITED	Director	08/01/2004	08/01/2004	Active	NO
17	U74140DL2004NPL125424	CENTRE FOR INTERNATIONAL TRADE IN AGRICULTURE AND AGRO BASED INDUSTRIES	Director	25/03/2004	25/03/2004	Active	NO
18	U01222AP1998NPL029027	BHARAT EGG PRODUCERS' ASSOCIATION	Director	30/09/2004	30/09/2004	Active	NO
19	U01222PN2005PTC020345	ALL INDIA POULTRY DEVELOPMENT AND SERVICES PRIVATE LIMITED	Director	28/02/2005	28/02/2005	Active	NO
20	U00029PN2006PTC022258	UTTARA HATCHERIES AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
21	U00029PN2006PTC022259	UTTARA POULTRY AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
22	U24230PN2007PTC130916	UTTARA BIOSCIENCES PRIVATE LIMITED	Director	27/10/2007	27/10/2007	Active	NO
23	U51909PN2009PTC133389	UTTARA IMPEX PRIVATE LIMITED	Director	20/01/2009	20/01/2009	Active	NO
24	U01222OR1985PTC002190	EASTERN HATCHERIES PRIVATE LIMITED	Director	19/06/2010	23/04/2010	Active	NO
25	U73100PN2011PTC140966	SRIVENK BIOLOGICAL LABORATORIES PRIVATE LIMITED	Director	04/10/2011	04/10/2011	Active	NO
26	U15122AP2012PTC080815	UTTARA BAKERS PRIVATE LIMITED	Director	09/05/2012	09/05/2012	Active	NO

Name :

Mr. Banda Venkatesh Banda Vasudev Rao

Designation :

Director

Address :

Venkatesh Farms, S. No. 95/1, NDA Road, Village Mauje Warje, Taluka Haveli, Pune – 411 029, Maharashtra, India

Date of Birth/Age :

31.12.1964

Date of Appointment :

14.03.1996

DIN No.:

00013614

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	U67120MH1982PTC027946	VENKA INVESTMENTS PRIVATE LIMITED	Director	07/08/1982	07/08/1982	Amalgamated	NO
2	U01222OR1985PTC002190	EASTERN HATCHERIES PRIVATE LIMITED	Director	11/11/1985	11/11/1985	Active	NO
3	L01222PN1976PLC017422	VENKY'S (INDIA) LIMITED	Director	10/11/1995	10/11/1995	Active	NO
4	U01222AP1971PTC001422	VENKATESHWARA HATCHERIES PRIVATE LIMITED	Managing director	10/11/1995	10/11/1995	Active	NO
5	U74999PN1988PTC020677	BALA INDUSTRIES AND ENTERTAINMENT PRIVATE LIMITED	Director	14/03/1996	14/03/1996	Active	NO
6	U07222PN1980PTC017423	VENCO RESEARCH AND BREEDING FARM PRIVATE LIMITED	Director	16/03/1996	16/03/1996	Active	NO
7	U29299PN1993PTC020678	VENKATESHWARA ENGINEERING INDUSTRIES PRIVATE LIMITED	Director	18/03/1996	18/03/1996	Amalgamated	NO
8	U15332MH1996PTC099964	UTTARA FOODS AND FEEDS PRIVATE LIMITED	Managing director	04/06/1996	04/06/1996	Active	NO
9	U92111MH1998PTC114045	BALA ENTERTAINMENT INTERNATIONAL PRIVATE LIMITED	Director	19/03/1998	19/03/1998	Amalgamated	NO
10	U01222PN1980PTC017494	VENKATESHWARA RESEARCH AND BREEDING FARM PRIVATE LIMITED	Director	12/07/2001	12/07/2001	Active	NO
11	U15332PN2002PTC016680	B.V. BIO-CORP PRIVATE LIMITED	Director	15/01/2002	15/01/2002	Active	NO
12	U15136PN2004PTC018753	UTTARA MASALA PRODUCTS PRIVATE LIMITED	Director	08/01/2004	08/01/2004	Active	NO
13	U01222AP1998NPL029027	BHARAT EGG PRODUCERS' ASSOCIATION	Director	30/09/2004	30/09/2004	Active	NO
14	U01222PN2005PTC020345	ALL INDIA POULTRY DEVELOPMENT AND SERVICES PRIVATE LIMITED	Director	28/02/2005	28/02/2005	Active	NO
15	U00029PN2006PTC022259	UTTARA POULTRY AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
16	U00029PN2006PTC022258	UTTARA HATCHERIES AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
17	U24230PN2007PTC130916	UTTARA BIOSCIENCES PRIVATE LIMITED	Managing director	20/06/2008	27/10/2007	Active	NO
18	U51909PN2009PTC133389	UTTARA IMPEX PRIVATE LIMITED	Managing director	31/07/2010	20/01/2009	Active	NO
19	U73100PN2011PTC140966	SRIVENK BIOLOGICAL LABORATORIES PRIVATE LIMITED	Director	04/10/2011	04/10/2011	Active	NO
20	U15122AP2012PTC080815	UTTARA BAKERS PRIVATE LIMITED	Director	09/05/2012	09/05/2012	Active	NO

Name :

Mr. Jitendra Moreshwar Desai

Designation :

Director

Address :

Venkatesh Farms, S. No. 95/1, NDA Road, Village Mauje Warje, Taluka Haveli, Pune – 411 029, Maharashtra, India

Date of Birth/Age :

27.04.1962

Date of Appointment :

12.04.1993

DIN No.:

00013533

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	U67120MH1982PTC027946	VENKA INVESTMENTS PRIVATE LIMITED	Director	20/01/1991	20/01/1991	Amalgamated	NO
2	U65999MH1987PTC023309	SRIVENK INVESTMENTS AND FINANCE PRIVATE LIMITED	Director	29/01/1991	29/01/1991	Active	NO
3	U01222PN1980PTC017494	VENKATESHWARA RESEARCH AND BREEDING FARM PRIVATE LIMITED	Managing director	22/03/1991	22/03/1991	Active	NO
4	U74999PN1988PTC020677	BALA INDUSTRIES AND ENTERTAINMENT PRIVATE LIMITED	Director	12/04/1993	12/04/1993	Active	NO
5	L01222PN1976PLC017422	VENKY'S (INDIA) LIMITED	Director	30/11/1993	30/11/1993	Active	NO
6	U01222OR1985PTC002190	EASTERN HATCHERIES PRIVATE LIMITED	Director	05/12/1994	05/12/1994	Active	NO
7	U01222AP1971PTC001422	VENKATESHWARA HATCHERIES PRIVATE LIMITED	Whole-time director	23/12/1994	23/12/1994	Active	NO
8	U92111MH1998PTC114045	BALA ENTERTAINMENT INTERNATIONAL PRIVATE LIMITED	Director	19/03/1998	19/03/1998	Amalgamated	NO
9	U15332PN2002PTC016680	B.V. BIO-CORP PRIVATE LIMITED	Director	15/01/2002	15/01/2002	Active	NO
10	U15136PN2004PTC018753	UTTARA MASALA PRODUCTS PRIVATE LIMITED	Director	08/01/2004	08/01/2004	Active	NO
11	U00029PN2006PTC022258	UTTARA HATCHERIES AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
12	U00029PN2006PTC022259	UTTARA POULTRY AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
13	U29299PN1993PTC020678	VENKATESHWARA ENGINEERING INDUSTRIES Private Limited	Director	27/11/2006	27/11/2006	Amalgamated	NO
14	U07222PN1980PTC017423	VENCO RESEARCH AND BREEDING FARM Private LIMITED	Alternate director	12/03/2012	30/03/2007	Active	NO
15	U24230PN2007PTC130916	UTTARA BIOSCIENCES PRIVATE LIMITED	Director	27/10/2007	27/10/2007	Active	NO
16	U51909PN2009PTC133389	UTTARA IMPEX PRIVATE LIMITED	Director	20/01/2009	20/01/2009	Active	NO
17	U73100PN2011PTC140966	SRIVENK BIOLOGICAL LABORATORIES PRIVATE LIMITED	Director	04/10/2011	04/10/2011	Active	NO

Name :

Mr. Banda Balaji Banda Vasudev Rao

Designation :

Additional director

Address :

Venkatesh Farms, S. No. 95/1, NDA Road, Village Mauje Warje, Taluka Haveli, Pune – 411 029, Maharashtra, India

Date of Birth/Age :

08.12.1972

Date of Appointment :

28.10.2010

DIN No.:

00013551

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	L01222PN1976PLC017422	VENKY'S (INDIA) LIMITED	Managing director	01/11/2007	09/11/1995	Active	NO
2	U01222AP1971PTC001422	VENKATESHWARA HATCHERIES PRIVATE LIMITED	Whole-time director	10/11/1995	10/11/1995	Active	NO
3	U15332MH1996PTC099964	UTTARA FOODS AND FEEDS PRIVATE LIMITED	Director	04/06/1996	04/06/1996	Active	NO
4	U92111MH1998PTC114045	BALA ENTERTAINMENT INTERNATIONAL PRIVATE LIMITED	Director	19/03/1998	19/03/1998	Amalgamated	NO
5	U15332PN2002PTC016680	B.V. BIO-CORP PRIVATE LIMITED	Director	15/01/2002	15/01/2002	Active	NO
6	U15136PN2004PTC018753	UTTARA MASALA PRODUCTS PRIVATE LIMITED	Director	08/01/2004	08/01/2004	Active	NO
7	U00029PN2006PTC022259	UTTARA POULTRY AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
8	U00029PN2006PTC022258	UTTARA HATCHERIES AND AGRI-FARMS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	Active	NO
9	U24230PN2007PTC130916	UTTARA BIOSCIENCES PRIVATE LIMITED	Director	27/10/2007	27/10/2007	Active	NO
10	U51909PN2009PTC133389	UTTARA IMPEX PRIVATE LIMITED	Director	20/01/2009	20/01/2009	Active	NO
11	U01222OR1985PTC002190	EASTERN HATCHERIES PRIVATE LIMITED	Director	19/06/2010	23/04/2010	Active	NO
12	U74999PN1988PTC020677	BALA INDUSTRIES AND ENTERTAINMENT PRIVATE LIMITED	Director	04/07/2011	28/10/2010	Active	NO
13	U73100PN2011PTC140966	SRIVENK BIOLOGICAL LABORATORIES PRIVATE LIMITED	Director	04/10/2011	04/10/2011	Active	NO
14	U15122AP2012PTC080815	UTTARA BAKERS PRIVATE LIMITED	Director	09/05/2012	09/05/2012	Active	NO

Name :

Mr. Ashok Kumar Harkishan Lal Mahajan

Designation :

Director

Address :

Flat No. 304, Brownea, Nyati Estate, Mohammadwadi, Hadapsar, Pune – 411 028, Maharashtra, India

Date of Birth/Age :

20.05.1945

Date of Appointment :

31.01.2007

DIN No.:

00017150

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	L01222PN1976PLC017422	VENKY'S (INDIA) LIMITED	Director	21/10/2005	21/10/2005	Active	NO
2	U29299PN1993PTC020678	VENKATESHWARA ENGINEERING INDUSTRIES PRIVATE LIMITED	Director	31/01/2007	31/01/2007	Amalgamated	NO
3	U74999PN1988PTC020677	BALA INDUSTRIES AND ENTERTAINMENT PRIVATE LIMITED	Director	31/01/2007	31/01/2007	Active	NO
4	U15332PN2002PTC016680	B.V. BIO-CORP PRIVATE LIMITED	Director	01/08/2007	01/08/2007	Active	NO

KEY EXECUTIVES

Name :	Mr. Vikas
Designation :	Marketing Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 04.07.2011

Names of Shareholders	No. of Shares
Anuradha Jitendra Desai	100
B. Venketesh B Vasudev Rao	100
Venkateshwara Hatcheries Private Limited, India	375400
Srivenk Investments and Finance Private Limited, India	374100
B Balaji B Vasudev Rao	100
Jitendra Moreshwar Desai	100
Venka Investments Private Limited, India	100
Total	750000

AS ON 04.07.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.95
Directors or relatives of directors	0.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Poultry Equipments.

Products :

ITC Code	Product Descriptions
843621.00	Poultry Incubators
01059200	Commercial Grown-up India
3099009	Poultry Feed

VJ Super J Incubation System

· Multi-Stage Incubator

· VJ Super J Hatcher

· VJ PT-500 Hatchery Control System

VJ Super K Incubation System

· VJ Multi-Stage Super K Setter (60,480 Eggs)

· VJ Super K Hatcher (10,080 Eggs)

· VJ PT-500 Hatchery Control System

VJ Super V Incubation System

· VJ Super V Setter 140 (14,112 Eggs)

· VJ Super V Hatcher 94 (9,408 Eggs)

Exports :

Products :

Poultry Equipments

Countries :

Ø African Countries

Ø Gulf Countries

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Setters and Hatchers	Nos.	NA	180	313

Notes:

1. Licensed capacity being not applicable has not been indicated.

2. The installed capacity has been certified by the Company, this being a technical matter.

3. Actual production includes production of various capacities of Setters and Hatchers and also includes quantities manufactured through subcontractors.

4. In view of heterogeneous nature of products and denomination of trading items being dissimilar in nature, it is impracticable to furnish quantitative / value of trading goods purchased and sold during the year.

GENERAL INFORMATION

Customers :	Wholesalers and Retailers
No. of Employees :	125 (Approximately)
Bankers :	Ø Bank of Baroda, Sinhagad, Pune, Maharashtra, India Ø HDFC Bank Limited

Banking Relations :	--
Auditors 1 :
Name :	S R Batliboi and Company Chartered Accountants
Address :	C-401, 4^th Floor, Panchshil Tech Park, Yerwada (Near Don Bosco School), Pune – 411 006, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AALFS0506L
Auditors 2 :
Name :	Prashant V Deo Chartered Accountant
Address :	Flat No 11, Building No 8 - B, Laxminarayannagar, No.4, Co op Hos Soc, ErandawanaPune411004MaharashtraINDIA
Income-tax PAN of auditor or auditor's firm :	ABAPD7786M
Holding Company :	Venkateshwara Hatcheries Private Limited [U01222AP1971PTC001422]
Fellow Subsidiaries :	Ø Eastern Hatcheries Private Limited, India Ø Venkys (India) Limited, India Ø Venkateshwara Engineering Industries Private Limited
Enterprises owned or significantly influenced by key management personnel or their relatives :	Ø Uttara Foods and Feeds Private Limited, India Ø Venco Research and Breeding Farm Private Limited, India Ø Venkateshwara Research and Breeding Farm Private Limited, India Ø Srivenk Inveshnent Private Limited, India Ø B. V. Bio-Corporation Private Limited

CAPITAL STRUCTURE

AFTER 04.07.2011

Authorised Capital : Rs. 206.200 Millions

Issued, Subscribed & Paid-up Capital : Rs. 7.500 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs. 10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
750,000	Equity Share	Rs.10/- each	Rs. 7.500 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		7.500	7.500	7.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		101.838	68.331	48.658
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		109.338	75.831	56.158
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	1.422
TOTAL BORROWING		0.000	0.000	1.422
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		109.338	75.831	57.580
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8.467	4.883	3.877
Capital work-in-progress		0.215	0.325	0.185
INVESTMENT		64.584	57.974	30.738
DEFERREX TAX ASSETS		1.101	1.086	1.240
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	39.661	15.862	12.984
	Sundry Debtors	45.782	15.748	6.574
	Cash & Bank Balances	7.748	2.363	1.813
	Other Current Assets	0.182	0.321	0.333
	Loans & Advances	18.529	7.611	16.868
Total Current Assets		111.902	41.905	38.572
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	35.030	11.628	6.869
	Other Current Liabilities	35.649	11.903	7.324
	Provisions	6.252	6.811	2.839
Total Current Liabilities		76.931	30.342	17.032
Net Current Assets		34.971	11.563	21.540
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		109.338	75.831	57.580

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	263.230	106.571	71.477
		Other Income	9.999	4.436	4.161
		TOTAL	273.229	111.007	75.638
Less	EXPENSES
		Raw Material Consumed	157.366	50.247	37.749
		Processing Charges	10.315	4.266	2.630
		Personnel Expenses	12.949	9.277	11.135
		Operating, Farm, Movie and Other Expenses	54.706	11.764	9.261
		(Increase/ Decrease in Inventories	(14.394)	2.089	2.482
		TOTAL	220.942	77.643	63.257
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		52.287	33.364	12.381
Less	FINANCIAL EXPENSES		0.251	0.581	0.128
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		52.036	32.783	12.253
Less/ Add	DEPRECIATION/ AMORTISATION		1.526	0.890	0.883
	PROFIT BEFORE TAX AND PRIOR PERIOD ITEMS		50.510	31.893	11.370
Less	PRIOR PERIOD ITEMS		0.017	0.000	0.000
	PROFIT BEFORE TAX		50.493	31.893	11.370
Less	TAX		16.986	12.220	3.580
	PROFIT AFTER TAX		33.507	19.673	7.790
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		65.694	46.021	38.231
	BALANCE CARRIED TO THE B/S		99.201	65.694	46.021
	EARNINGS IN FOREIGN CURRENCY
		Export of Machinery at FOB Value	20.837	9.766	4.523
		Export Service Income at FOB value	0.108	0.084	0.000
	TOTAL EARNINGS		20.945	9.850	4.523
	IMPORTS
		Raw Materials and Components	7.719	4.347	4.261
	Earnings Per Share (Rs.)		44.68	26.23	10.39

Particulars	31.03.2012
Sales Turnover (Approximately)	330.000s

Expected Sales ( 2012-2013 ) : Rs. 400.000 Millions

The above information has been parted by Mr. Vikas (Marketing Manager)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	12.26	17.72	10.30
Net Profit Margin (PBT/Sales)	(%)	19.18	29.93	15.91
Return on Total Assets (PBT/Total Assets}	(%)	41.95	68.17	26.79
Return on Investment (ROI) (PBT/Networth)		0.46	0.42	0.20
Debt Equity Ratio (Total Liability/Networth)		0.70	0.40	0.33
Current Ratio (Current Asset/Current Liability)		1.45	1.38	2.26

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

OPERATIONS

During the financial year 2010-2011 the Company registered a increase of 147.00% in sales turnover at Rs. 263.200 millions as compared to Rs. 106.500 millions for the previous year. The profit after tax for the year 2010-2011 increased by 70.32% at Rs.33.500 millions as compared to Rs.19.700 millions in the previous year.

CONTINGENT LIABILITIES NOT PROVIDED FOR

Claims against the company not acknowledged as debt:

· In respect of sales tax amounting to Rs.0.051 million for non submission of 'C form and disallowance of sales tax set off on purchases.

Based on legal opinion obtained by the Company and further discussion with solicitors, the Company believes that there is a fair chance of decision in its favour in respect of details listed above and accordingly no provision has been considered necessary.

FIXED ASSETS

Tangible Assets

· Freehold Land

· Buildings

· Plant and Machinery

· Furniture, Fittings and Office Equipments

· Vehicles

Intangible Assets

· Softwares

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. 53.58
UK Pound	1	Rs. 86.60
Euro	1	Rs. 68.94

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	BVA

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	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		50

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.