MIRA INFORM REPORT

Report Date :

29.04.2013

IDENTIFICATION DETAILS

Name :	SEL JEGAT PRINTERS PRIVATE LIMITED
Registered Office :	No.1, South Car Street, Sivakasi – 626123, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	01.04.2005
Com. Reg. No.:	18-055856
Capital Investment / Paid-up Capital :	Rs. 55.000 Millions
CIN No.: [Company Identification No.]	U22212TN2005PTC055856
PAN No.: [Permanent Account No.]	AAICS9669L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Adhesive Labels
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 814000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. 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 trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

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

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating (BB+)
Rating Explanation	Moderate risk of default
Date	April 20, 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 :	No.1, South Car Street, Sivakasi – 626123, Tamilnadu, India
Tel. No.:	91-4562-221533/ 227808
Fax No.:	91-4562-222896
E-Mail :	info@seljegat.com seljegat@dataone.in
Website :	www.seljegat.com
Factory :	3/2000 and 3/2002, Thiruthangal Road, Sengamalanachiyarpuram, Thiruthangal – 626130, Tamilnadu, India
Marketing Office :	Located At : Chennai Coimbatore Bangalore Hyderabad

DIRECTORS

As on 30.09.2012

Name :

Jegatheesan

Designation :

Director

Address :

17 – B, Chairman A.R. Arunachalam Road, Sivakasi, Tamilnadu, India

Date of Birth :

01.06.1949

Date of Appointment :

01.04.2005

DIN No.:

00017947

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	U22219TN1995PTC031374	SEL-JEGAT PRINT-PACK PRIVATE LIMITED	Director	15-05-95	15-05-95	Active	NO
2	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	Active	NO

Name :

Selvarajan Jeganathan

Designation :

Director

Address :

415 – A, Kamarajar Road, Sivakasi, Tamilnadu, India

Date of Birth :

16.05.1956

Date of Appointment :

01.04.2005

DIN No.:

00017986

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	U22219TN1995PTC031374	SEL-JEGAT PRINT-PACK PRIVATE LIMITED	Director	15-05-95	15-05-95	Active	NO
2	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	Active	NO

Name :

Jeganathan Nalini

Designation :

Director

Address :

415 – A, Kamarajar Road, Sivakasi, Tamilnadu, India

Date of Birth :

18.09.1969

Date of Appointment :

01.04.2005

DIN No.:

00018008

PAN No. :

ABAPN2567L

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	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	Active	NO

Name :

Mukundan Raveendran

Designation :

Director

Address :

Old No. 83 A/2, New No. 405, Railway Feeder road, sivakasi, Tamilnadu, India

Date of Birth :

24.11.1986

Date of Appointment :

01.04.2005

DIN No.:

00548077

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
1	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	Active

Name :

Raveendran

Designation :

Managing director

Address :

Old No. 83 A/2, New No. 405, Railway Feeder road, sivakasi, Tamilnadu, India

Date of Birth :

04.01.1951

Date of Appointment :

01.04.2005

DIN No.:

00548057

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	U22219TN1995PTC031374	SEL-JEGAT PRINT-PACK PRIVATE LIMITED	Director	15-05-95	15-05-95	Active	NO
2	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Managing director	01-04-05	01-04-05	Active	NO
3	U22219TN2008PTC068450	UNIGRAA PRINT SOLUTIONS PRIVATE LIMITED	Director	16-12-11	16-12-11	Active	NO

Name :

Vanaja Raveendran

Designation :

Director

Address :

Old No. 83 A/2, New No. 405, Railway Feeder road, sivakasi, Tamilnadu, India

Date of Appointment :

01.04.2005

DIN No.:

00548150

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	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	Active	NO

Name :

Prashanth Raveendran

Designation :

Director

Address :

Old No. 83 A/2, New No. 405, Railway Feeder road, sivakasi, Tamilnadu, India

Date of Birth :

21.10.1984

Date of Appointment :

01.04.2005

DIN No.:

00666924

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	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	-	Active	NO

Name :

Sivaneshkumaran Jegatheesan

Designation :

Director

Address :

17 – B, Chairman A.R. Arunachalam Road, Sivakasi, Tamilnadu, India

Date of Birth :

05.06.1980

Date of Appointment :

01.04.2005

DIN No.:

01396807

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	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	-	Active	NO

Name :

Poongothai Jegatheesan

Designation :

Director

Address :

17 – B, Chairman A.R. Arunachalam Road, Sivakasi, Tamilnadu, India

Date of Birth :

02.05.1960

Date of Appointment :

01.04.2005

DIN No.:

01396829

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	U22212TN2005PTC055856	SEL JEGAT PRINTERS PRIVATE LIMITED	Director	01-04-05	01-04-05	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2012

Names of Shareholders	No. of Shares
J. Sivanesh kumaran	85000
V. S. Raveendran (HUF)	80000
S. Jeganathan (Indl)	48000
S. Jeganathan (HUF)	84000
j. nalini	49500
S. Jegatheesan (Indl)	52000
V. S. Raveendran (Indl)	30000
R. Prashanh	30000
R. Mukundan	24000
J. Poongothai	25500

As on 30.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Adhesive Labels

Products :

Description of Product or Services	ITC NO.
Other Printed Books etc. of HD NO. 4901	49019900

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	State Bank of India, SME Branch, 11, Velayutham Road, Sivakasi – 626123, Tamilnadu, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Rupee term loans from banks	47.763	37.753
Deposits from director	5.302	17.273
Borrowings	33.242	19.547
Total	86.307	74.573

Banking Relations :	--
Auditors :
Name :	K S Anandharajan Chartered Accountant
Address :	No. 58, Meera Hussain Street, Sivakasi – 626123, Tamilnadu, India
PAN No.:	AATPA2397K

CAPITAL STRUCTURE

As on 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
550000	Equity Shares	Rs.100/- each	Rs. 55.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
550000	Equity Shares	Rs.100/- each	Rs. 55.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		55.000	45.000	45.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		148.576	119.759	95.334
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		203.576	164.759	140.334
LOAN FUNDS
1] Secured Loans		86.307	74.573	68.141
2] Unsecured Loans		0.000	0.000	12.996
TOTAL BORROWING		86.307	74.573	81.137
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		289.883	239.332	221.471
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		232.324	196.551	190.772
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	18.500	12.098	8.750
	Sundry Debtors	47.457	51.364	51.964
	Cash & Bank Balances	0.248	1.492	0.458
	Other Current Assets	0.249	0.249	0.249
	Loans & Advances	21.710	18.103	11.729
Total Current Assets		88.164	83.306	73.150
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	29.766	39.856	41.842
	Other Current Liabilities	0.839	0.669
	Provisions	0.000	0.000	0.609
Total Current Liabilities		30.605	40.525	42.451
Net Current Assets		57.559	42.781	30.699
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		289.883	239.332	221.471

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income		189.421	149.032
		Other Income		0.144	0.000
		TOTAL (A)	NA	189.565	149.032
Less	EXPENSES
		Cost of sale		143.972	108.793
		Selling, Administration, & General Expenses		14.274	13.370
		Increase/Decrease in Stock		(3.347)	(6.681)
		TOTAL (B)	NA	154.899	115.482
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			34.666	33.550
Less	FINANCIAL EXPENSES (D)			8.708	8.480
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			25.958	25.070
Less/ Add	DEPRECIATION/ AMORTISATION (F)			16.476	18.787
	PROFIT BEFORE TAX (E-F) (G)		NA	9.482	6.283
Less	TAX (H)		NA	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		10.070	9.482	6.283
	EARNINGS IN FOREIGN CURRENCY		NA	0.313	0.328
	Earnings Per Share (Rs.)		18.31	17.24	11.42

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	5.01	4.21
Net Profit Margin (PBT/Sales)	(%)	NA	5.00	4.21
Return on Total Assets (PBT/Total Assets}	(%)	NA	3.34	2.38
Return on Investment (ROI) (PBT/Networth)		NA	0.07	0.04
Debt Equity Ratio (Total Debt /Networth)		0.42	0.45	0.57
Current Ratio (Current Asset/Current Liability)		2.88	2.88	2.05

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 two 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	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

FORM 8

Corporate identity number of the company	U22212TN2005PTC055856
Name of the company	SEL JEGAT PRINTERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	No.1, South Car Street, Sivakasi – 626123, Tamilnadu, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10057182
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	State Bank of India
Nature of instrument creating charge	1. Supplemental Agreement of Loan Cum Hypothecation – SME 4 2. Memorandum for recording extension of mortgage by deposit of title deeds covering enhanced limits and/or creation of Equitable Mortgage on additional properties for existing limits and enhanced limits and additional facilities -SME 7
Date of instrument Creating the charge	24.01.2013
Amount secured by the charge	Rs. 185.900 Million
Brief of the principal terms an conditions and extent and operation of the charge	Margin: RM/SFG/FG/Components/Consumables/Spares/Receivables/Term Loans/LC/BG - 25% Extent and operation of the charge : The charge shall operate as exclusive first charge in favor of the bank as security for an overall limit of Rs.185.900 Millions together with interest, commission, cost, charges and other expenses, which may accrue and / or be debited to the company s accounts from time to time. Others : Cover period for receivables - 90 days
Short particulars of the property charged (Including location of the property)	Hypothecation of Stocks, Book Debts, Machineries and EM on company's immovable properties. Full details are as per attachment
Date of last modification prior to the present modification	21.04.2011
Particulars of the present modification	Overall Limit is reduced from Rs.201.700 Millions to Rs.185.900 Million Extension of Hypothecation, as Exclusive First Charge of Stocks, Book Debts, Machineries, other movable fixed assets and Extension of Equitable Mortgage as Exclusive First Charge on Company's immovable properties in Sengamalanchiarpuram village, Sivakasi to secure the reduced OL of Rs.185.900 Millions together with interest and all other monies due from the company to the Bank. All other terms and conditions remain unaltered.

Fixed Assets :

• Land
• Buildings
• Plant and Equipment
• Vehicles
• Computer
• Furniture and Fixture
• Office Equipment

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. 54.29
UK Pound	1	Rs. 83.88
Euro	1	Rs. 70.68

INFORMATION DETAILS

Report Prepared by :

ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.