1. Summary Information

		Country	India
Company Name	NAKODA LIMITED	Principal Name 1	Mr. B.G. Jain
Status	Satisfactory	Principal Name 2	Mr. D.B. Jain
		Registration #	04-045995
Street Address	Block No.1 and 12 to 16, Village Karanj, Taluka Mandvi, District Surat – 394 110, Gujarat
Established Date	13.08.1984	SIC Code	--
Telephone#	91-2621-234709/ 234711	Business Style 1	Trader
Fax #	91-2621-235430	Business Style 2	--
Homepage	http://www.nakodaltd.com	Product Name 1	Yarn and Processing of Polyester Yarn like Texturising and Twisting
# of employees	500 [Approximately]	Product Name 2	--
Paid up capital	Rs.992,000,000/-	Product Name 3	--
Shareholders	Shareholding of Promoter and Promoter Group - 64.61%, Public Shareholding - 35.39 %	Banking	Indian Overseas Bank
Public Limited Corp.	Yes	Business Period	29 Years
IPO	Yes	International Ins.	--
Public Enterprise	Yes	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
Subsidiary	Mauritius	Nakoda Holdings Mauritius Limited	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.12.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	9,673,236,000	Current Liabilities	95,124,000
Inventories	4,375,072,000	Long-term Liabilities	15,771,379,000
Fixed Assets	6,345,754,000	Other Liabilities	114,667,000
Deferred Assets	0,000	Total Liabilities	15,981,170,000
Invest& other Assets	281,837,000	Retained Earnings	3,438,729,000
		Net Worth	4,694,729,000
Total Assets	20,675,899,000	Total Liab. & Equity	20,675,899,000
Total Assets (Previous Year)	16,030,321,000
P/L Statement as of	31.12.2012		(Unit: Indian Rs.)
Sales	23,836,840,000	Net Profit	595,870,000
Sales(Previous yr)	20,062,828,000	Net Profit(Prev.yr)	494,204,000

MIRA INFORM REPORT

Report Date :

02.08.2013

IDENTIFICATION DETAILS

Name :	NAKODA LIMITED (w.e.f. 30.03.2010)
Formerly Known As :	NAKODA TEXTILE INDUSTRIES LIMITED
Registered Office :	Block No.1 and 12 to 16, Village Karanj, Taluka Mandvi, District Surat – 394 110, Gujarat
Country :	India
Financials (as on) :	31.12.2012
Date of Incorporation :	13.08.1984
Com. Reg. No.:	04-045995
Capital Investment / Paid-up Capital :	Rs.992.000 Millions
CIN No.: [Company Identification No.]	L17111GJ1984PLC045995
TAN No.: [Tax Deduction & Collection Account No.]	SRTN00191C
PAN No.: [Permanent Account No.]	AAACN7282L
Legal Form :	A Public Limited Liability Company. The company’s Shares are Listed on the Stock Exchange.
Line of Business :	Traders of Yarn and Processing of Polyester Yarn like Texturising and Twisting.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 18000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BBB (Long Term Bank Facilities)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	January 2013

Rating Agency Name	CARE
Rating	A2 (Short Term Bank Facilities)
Rating Explanation	Strong degree of safety and low credit risk.
Date	January 2013

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 (GENERAL DETAILS)

Name :	Mrs. Rashmi Bhatt
Designation :	Company Secretary
Contact No.:	91-261-3060200
Date :	30.07.2013

LOCATIONS

Registered Office/ Factory 1 :	Block No.1 and 12 to 16, Village Karanj, Taluka Mandvi, District Surat-394110, Gujarat, India
Tel. No.:	91-261-3060200/ 91-2621-234709/ 234711/
Fax No.:	91-2621-235430
E-Mail :	bhattrt@yahoo.co.in info@nakoda.co.in
Website :	http://www.nakodaltd.com
Area :	80000 sq. Mtrs.
Location :	Owned
Factory 2:	Block No. 17 to 19, Village Karanj, Taluka Mandvi, District Surat, Gujarat, India
Administrative Office :	701, International Trade Centre, Majura Gate, Ring Road, Surat-395002, Gujarat, India
Tel. No.:	91-261-3060200
Fax No.:	91-261-3060222
Corporate Office :	15B, 15^th Floor, Earnest House, 194, Nariman Point, Mumbai-400021, Maharashtra, India
Tel. No.:	91-22-22824740/ 43
Fax No.:	91-22-22824745
Branch Office :	36, New Vora Building, 59 - Nakhuda Street, 4th Floor, Tambakanta, Mumbai-400003, Maharashtra, India
Tel. No.:	91-22 -23442590

DIRECTORS

As on: 31.12.2012

Name :	Mr. B. G. Jain
Designation :	Chairman and Managing Director
Name :	Mr. P. P. Vora
Designation :	Additional Director
Name :	Mr. P. J. Shah
Designation :	Additional Director
Name :	Mr. S. K. Bhoan
Designation :	Director
Date of Birth :	16.06.1949
Qualification :	B. Tech
Expertise in specific functional area :	Finance and Textiles
Date of Appointment :	25.04.2007
Directorships held in other Public companies :	Nakoda Green Power Limited
Name :	Mr. B. L. Maheshwari
Designation :	Director
Date of Birth :	30.01.1960
Qualification :	B. Com., F.C.A.
Expertise in specific functional area :	Finance
Date of Appointment :	28.04.1960
Directorships held in other Public companies :	Century Aluminum Mfg. Company Limited
Name :	Mr. Ishtiaq Ali
Designation :	Director
Name :	Mr. Arvind Sinha
Designation :	Director
Name :	Dr. J. A. Prem
Designation :	Director
Name :	Mrs. P. B. Jain
Designation :	Director
Name :	Mr. D. B. Jain
Designation :	Joint Managing Director
Date of Birth :	07.04.1978
Qualification :	M.B.A.- Finance
Expertise in specific functional area :	Textile and Finance
Date of Appointment :	29.07.2000
Directorships held in other Public companies :	Surat Super Filament Limited Nakoda Green Power Limited

KEY EXECUTIVES

Name :	Mrs. Rashmi Bhatt
Designation :	Company Secretary

SHAREHOLDING PATTERN

As on: 30.06.2013

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	1708400	0.91
Bodies Corporate	119385800	63.69
Sub Total	121094200	64.61
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	121094200	64.61
(B) Public Shareholding
(1) Institutions
Financial Institutions / Banks	11400	0.01
Sub Total	11400	0.01
(2) Non-Institutions
Bodies Corporate	20054546	10.70
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	15269109	8.15
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	29521443	15.75
Any Others (Specify)	1484302	0.79
Non Resident Indians	1484302	0.79
Sub Total	66329400	35.39
Total Public shareholding (B)	66340800	35.39
Total (A)+(B)	187435000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	59565000	0.00
Sub Total	59565000	0.00
Total (A)+(B)+(C)	247000000	0.00

BUSINESS DETAILS

Line of Business :

Traders of Yarn and Processing of Polyester Yarn like Texturising and Twisting.

Products :

PRODUCT DESCRIPTION	ITEM CODE
Partially Oriented Yarn	54024600
Polyester Texturised Yarn	54023300
Polyester Fully Drawn Yarn	54024300

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS [AS ON 31.12.2011]

Particulars	Unit	Installed Capacity	Actual Production
Chips	MT	140000	110857
POY FDY	MT	99500	89307
Texturised Yarn Draw Twisted Yarn	MT	29870	19476

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

• Canara Bank
• Corporation Bank
• State Bank of Patiala
• Syndicate Bank
• UCO Bank
• Indian Overseas Bank
• Karur Vysya Bank Limited
• Union Bank of India
• Lakshmi Vilas Bank Limited
• Axis Bank Limited
• Andhra Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.12.2012
LONG TERM BORROWINGS
Term Loan From Banks	692.375
Corporate Loans From Banks	395.119
Vehicle Loan From Banks	2.931
Buyer's Credit From Banks	2059.253
SHORT TERM BORROWINGS
Term Loan From Banks	421.097
Corporate Loans From Banks	66.760
Vehicle Loan From Banks	0.593
Buyer's Credit From Banks	152.720
Acceptance under L/c	7643.696
VSL Loan	67.129
Working Capital loans	2138.462
Total	13640.135

Secured Loan	As on 31.12.2011
Term Loans	1309.947
Corporate Loans	508.580
Working Capital Loans	1415.820
Vehicles Loans	7.469
Buyer Credit Term Loan	1178.355
TOTAL	4420.171

LONG TERM BORROWINGS

Term Loans

a. Term loan of Rs. 2500.000 Millions (Phase I) and Term loan of Rs. 1530.000 Millions (Phase II) are secured by Pari Passu first charge on all existing immovable and movable assets of the company situated and proposed to be situated at Block No. 17 to 19 at Karaj and Block No. A/1, B/1, M/1 at Textile Park, Hathuran and second charge on all Current Assets of the company.

b. Term Loan of Rs. 180.000 Millions for FDY lines are secured by Hypothecation of 6 FDY lines covered under said loans.

Corporate Loans

a Corporate loan from Syndicate Bank is secured by EMT of Land and Hypothecation of 9 wind mills situated at Tirunelveli, Talmilnadu.

b Corporate loan from Indian Overseas Bank is secured by Hypothecation of 7 wind mills situated at Ratlam, Madhya Pradesh.

Vehicle Loans

The loans for vehicles have been secured by specific charges on the vehicles covered under the said loan.

SHORT TERM BORROWINGS

a. Working Capital Facilities are secured by Hypothecation of stock of Raw Material, Finished Goods, Stores, Spares, Other Current Assets, Book Debts and Collateral Security of EMT of Block No.4,11,17 to 19 at Karanj, EMT of Land and Building situated at Texturising Unit at Karanj, Hypothecation of 7 POY Lines Situated at Karanj, Second charge by way of Mortgage and/or Hypothecation of Land, Building and Machineries situated at POY division at Karanj on which GIIC Limited and GSFC having First charge.

b. Value Security Loan (VSL) is secured against Fixed Deposits

Banking Relations :	--
Auditors :
Name :	N. M. Singapuri and Company Chartered Accountants
Address :	O-18, Kanaknidhi Apartment, Opposite Gandhi Smruti, Nanpura, Surat, Gujarat, India
Related Party where control exists :	Nakoda Syntex Private Limited B. G. Jain Investment Private Limited G. P. Shah Investment Private Limited P. B. Jain Investment Private Limited Varju Investment Private Limited Nakoda Shipyard Private Limited Indo Korean Petrochem Limited -South Korea Nakoda Green Power Limited KonceptInfotenment Private Limited NakodaRealities Private Limited NakodaEnergy Private Limited NakodaFinancial Services Private Limited Nakoda Infrastructure and Leasing Private Limited Nakoda Holdings Mauritius Limited -Mauritius GerbackHoldings Pte. Limited -Singapore

CAPITAL STRUCTURE

After 25.06.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
300000000	Equity Shares	Rs.5/- each	Rs.1500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
247000000	Equity Shares	Rs.5/- each	Rs.1235.000 Millions

As on: 31.12.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
300000000	Equity Shares	Rs.5/- each	Rs.1500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
198400000	Equity Shares	Rs.5/- each	Rs.992.000 Millions

The reconciliation of the numbers of shares outstanding and at the beginning and at the end of the reporting period

(Rs. in Millions)

Particulars	No of Shares	Share Capital
Equity Shares of Rs. 5/- each ( Previous year Rs. 5/- each)
Shares outstanding at the beginning of the year	198400000	992.000
Shares Issued during the year - (By way of Conversion of share warrants)
Shares bought back during the year	-
Any other movement (please specify)	-
Shares outstanding at the end of the year	198400000	992.000

Terms/Rights attached to Equity Shares

The Company hasonlyone class of EquityShares having apar value of Rs. 5 per Share. Each holder of Equity Share is entitled to one vote per Share. The Company declares and pays Dividend in Indian Rupees. The Dividend proposed bythe Board of Directors is subjectto the approval of Shareholders inthe ensuing General Meeting.

During the year ended 31st December'2012, the amount of Dividend per Share recognised as distributions to Equity Shareholders was Rs. 0.25 perShare.(31st December2011: Rs. 0.25 perShare)

In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company. The distribution will be in the proportion to the number of Equity Shares held by the Shareholders.

Out of Equity shares of the Company, shares held by its holding company, ultimate holding company and their subsidiaries/associates areas below:

Particulars	No of Shares	Face Value
		(Rs. in Millions)
Held by Associate Company
1 G P Shah Investment Private Limited	7502000	37.510
2 B G Jain Investment Private Limited	7755600	38.778
3 P B Jain Investment Private Limited	34682800	173.414
4 Varju Investment Private Limited	7428800	37.144
5 Nakoda Syntex Private Limited	28272000	141.360

List of shares holders who are holding more than 5 % Equity Shares of the Company

Sr. No. Name of Shareholder	No of Shares	%
Equity Shares of Rs. 5/- each
1 P B Jain Investment Private Limited	34682800	17.48%
2 Nakoda Syntex Private Limited	28272000	14.25%
3 The Bank of New York Mellon, DR	59565000	30.02%

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	992.000
(b) Reserves & Surplus	3438.729
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	264.000
Total Shareholders’ Funds (1) + (2)	4694.729
(3) Non-Current Liabilities
(a) long-term borrowings	5280.922
(b) Deferred tax liabilities (Net)	114.667
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	5395.589
(4) Current Liabilities
(a) Short term borrowings	10490.457
(b) Trade payables	10.380
(c) Other current liabilities	84.744
(d) Short-term provisions	0.000
Total Current Liabilities (4)	10585.581
TOTAL	20675.899
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5981.369
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	364.385
(iv) Intangible assets under development	0.000
(b) Non-current Investments	281.837
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	4.194
(e) Other Non-current assets	0.000
Total Non-Current Assets	6631.785
(2) Current assets
(a) Current investments	0.000
(b) Inventories	4375.072
(c) Trade receivables	7094.221
(d) Cash and cash equivalents	2252.229
(e) Short-term loans and advances	212.476
(f) Other current assets	110.116
Total Current Assets	14044.114
TOTAL	20675.899

SOURCES OF FUNDS		31.12.2011	31.12.2010
SHAREHOLDERS FUNDS
1] Share Capital		992.000	632.000
2] Share Application Money		0.000	270.000
3] Reserves & Surplus		2900.505	1751.775
4] (Accumulated Losses)		0.000	0.000
NETWORTH		3892.505	2653.775
LOAN FUNDS
1] Secured Loans		4420.171	4199.488
2] Unsecured Loans		1319.510	1037.490
TOTAL BORROWING		5739.681	5236.978
DEFERRED TAX LIABILITIES		106.508	98.679
TOTAL		9738.694	7989.432
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4099.435	3976.981
Capital work-in-progress		839.876	324.531
INVESTMENT		118.240	81.520
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2460.515	1086.398
	Sundry Debtors	5808.960	3567.473
	Cash & Bank Balances	2450.994	1879.087
	Other Current Assets	0.000	0.000
	Loans & Advances	212.100	156.091
Total Current Assets		10932.569	6689.049
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.427	3.516
	Other Current Liabilities	6225.554	3092.657
	Provisions	57.646	36.726
Total Current Liabilities		6291.627	3132.899
Net Current Assets		4640.942	3556.150
MISCELLANEOUS EXPENSES		40.201	50.250
TOTAL		9738.694	7989.432

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2012	31.12.2011	31.12.2010
	SALES
		Income	23836.840	20062.828	12752.388
		Other Income	88.199	70.005	44.142
		TOTAL (A)	23925.039	20132.833	12796.530
Less	EXPENSES
		Cost of Materials Consumed	15131.809	18022.072	11646.550
		Manufacturing Expenses	--	784.573	461.266
		Purchase of Stock-in-Trade	7337.022	--	--
		Payments to and Provisions For Employees	--	66.583	43.035
		Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade	(497.120)	--	--
		Administrative & Selling Expenses	--	56.761	36.028
		Employee Benefit Expense	78.620	--	--
		Variation in Stocks	--	(29.909)	(128.190)
		Other Expenses	378.337	--	--
		GDR Issue Expenses (Written Off)	--	10.070	0.000
		TOTAL (B)	22428.668	18910.150	12058.689
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1496.371	1222.683	737.841
Less	FINANCIAL EXPENSES (D)		465.986	356.536	249.815
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1030.385	866.147	488.026
Less/ Add	DEPRECIATION/ AMORTISATION (F)		275.350	248.310	77.299
	PROFIT BEFORE TAX (E-F) (G)		755.035	617.837	410.727
Less	TAX (H)		159.165	123.633	79.196
	PROFIT AFTER TAX (G-H) (I)		595.870	494.204	331.531
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1021.051	692.321	524.730
Less	DEFERRED TAX LIABILITY		0.000	7.828	27.214
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	100.000	100.000
		Dividend	NA	49.600	31.600
		Tax on Dividend	NA	8.046	5.126
	BALANCE CARRIED TO THE B/S		NA	1021.051	692.321
	EARNINGS IN FOREIGN CURRENCY
		Interest	12.080	14.120	0.000
		Sales of FDV	13.666	0.000	0.000
		Sales of machinery	0.000	1.800	0.000
	TOTAL EARNINGS		25.746	15.920	0.000
	IMPORTS
		Raw Materials	NA	5273.372	728.763
	TOTAL IMPORTS		NA	5273.372	728.763
	Earnings Per Share (Rs.)		3.00	2.49	2.62

QUARTERLY RESULTS

PARTICULARS	31.03.2013
Net Sales	7025.800
Total Expenditure	6618.900
PBIDT (Excl OI)	406.900
Other Income	11.500
Operating Profit	418.500
Interest	130.100
Exceptional Items	0.000
PBDT	288.400
Depreciation	72.600
Profit Before Tax	215.800
Tax	43.200
Provisions and contingencies	0.000
Profit After Tax	172.600
Extraordinary Items	0.000
Prior Period Expenses	0.000
Other Adjustments	0.000
Net Profit	172.600

KEY RATIOS

PARTICULARS		31.12.2012	31.12.2011	31.12.2010
PAT / Total Income	(%)	2.49	2.45	2.59
Net Profit Margin (PBT/Sales)	(%)	3.17	3.07	3.22
Return on Total Assets (PBT/Total Assets}	(%)	3.77	4.11	3.85
Return on Investment (ROI) (PBT/Networth)		0.16	0.16	0.15
Debt Equity Ratio (Total Debt /Networth)		3.36	1.47	1.97
Current Ratio (Current Asset/Current Liability)		1.33	1.74	2.14

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 three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	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	Yes

FINANCIAL HIGHLIGHTS

The Gross Income of the Company for the year rose to Rs. 25866.800 Millions from Rs. 21457.000 Millions during the previous year showing a growth of 20.55%. Gross Profit (before Financial Charges and Depreciation) grew by 21.43% and stood at Rs. 133.73 Cr for the year compared to Rs. 110.13 Cr during the previous year; Profit for the year grew at an impressive rate of 22.51% and was registered at Rs. 59.59 Cr against Rs. 48.64 Cr during the previous year. The Company, accordingly, exhibited an all round improved performance with handsome growth.

OPERATING RESULTS

The year 2012 was another year of growth for the Company. The Company showed an improvement in business as compared to the previous year despite high raw material and fuel prices. The Company recorded 20.55% growth in net revenue at Rs. 2586.68 Cr from Rs. 2145.70 Cr last year, which enabled the Company to maintain its track record of sustained year-on-year growth. The growth in revenue was largely driven by higher sales volumes, aided by new capacities of POY, FDY & DTY of about 60000 MTPA which commenced commercial production during the year.

UNSECURED LOAN

(Rs. in Millions)

Particulars	As on 31.12.2012
LONG TERM BORROWINGS
Agency Deposits	285.100
Others	1846.144
SHORT TERM BORROWINGS
Short term loan from Bank	0.000
Total	2131.244

Unsecured Loan	As on 31.12.2011
Agency Deposit	35.100
Suppliers Credit	252.920
Others	1031.490
TOTAL	1319.510

EXPANSION PROGRAMME

The Company is setting up a 2,80,000 MTPA plant comprising of Continuous Polymerisation, Direct Melt Spinning for the manufacture ofPOYand FDYin the denier range of 30 to 500 having 12 to 578 filaments in Bright, Semi-dull, Full-dull, Cationic and Dopedyed yarns at new location. After the completion of the Expansion Project, Nakoda will be in a position to cater to the entire range of Polyester yarns in the domestic as well as international market. The project is estimated to cost Rs. 1746 Cr. and is proposed to be financed by a mix of equity, internal resources and also long terms debts. The required equity for the same is already raised through GDRs and fully committed through preferential allotments to the promoters and strategic investors.

INDUSTRY REVIEW

Domestic MMF industry is mainly driven by Polyester & Viscose. MMF is primarily used to produce blended fabrics and 100 percent cotton fabrics, which are, in turn, used in readymade garments, home textiles and other industrial textiles.

Manmade Fibres contribute to 67% of global fibre basket with cotton at 31%. Over the year, Natural fibres have lost significant market share to MMF mainly on account of the uncertainty in the availability of cotton and growing popularity of polyester.

The high volatility in cotton prices and ambiguous outlook forced downstream players to opt for polyester due to lesser price volatility and greater reliability of steady supplies of polyester. As in the past both demand and supplies are expected to grow steadily.

STANDALONE - UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST MARCH, 2013

(Rs. in Millions)

Sr. No.	Particulars	Quarter Ended 31.03.2013 (Unaudited)
	Income from operations
	(a) Net Sales/Income from Operations	7013.420
	(b) Other Operating Income	12.416
	Total Income from operations (net)	7025.836
	Expenses
	a) Cost of materials consumed	3809.148
	b) Purchases of stock-in-trade	2410.885
	c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(469.040)
	d) Employee benefits expense	21.046
	e) Depreciation and amortisation expense	72.615
	f) Other expenses	846.874
	Total expenses	691.528
3	Profit / (Loss) from operations before other Income, finance costs and exceptional items (1-2)	334.308
4	Other income	11.528
5	Profit / (Loss) from ordinary activities before finance costs and exceptional items (3+4)	345.836
6	Finance costs	130.050
7	Profit / (Loss) from ordinary activities alter finance costs but before excentional items (5-61	215.786
8	Exceptional items	0.000
9	Profit / (Loss) from ordinary activities before tax (7-8)	215.786
10	Tax expense	43.174
11	Net Profit / (Loss) from ordinary activities after tax (9-10)	172.612
12	Extraordinary items (net of tax expense)	0.000
	Net Profit / (Loss) for the period (11-12)	172.612
14	Paid-up equity share capital (Face Value of Share of Rs.5/-each)	1235.000
15	Reserves excluding Revaluation Reserves as per balance sheet of previous accounting	-
16.i	Earnings per share (before extraordinary items) (of Rs.5/- each not annualised)
	a) Basic	0.70
	b) Diluted	0.70
16.ii	Earnings per share (after extraordinary items) (of Rs.5/- each not annualised)
	a) Basic	0.70
	b) Diluted	0.70

A	PARTICULARS OF SHAREHOLDING
	Public Shareholding
	-No of Shares	125905800
	-Percentage of Shareholding	50.97
2	Promoters and Promoter group Shareholding
	a) Pledged / Encumbered
	-Number of Shares	30743600
	-Percentage of shares (as a % of total shareholding oT Promoters and Promoter group)	25.39
	-Percentage of Shares (as a % of the total share capital of the company)	12.45
	b) Non-Encumbered
	-Number of Shares	90350600
	-Percentage of shares (as a % of total shareholding of Promoters and Promoter group)	74.61
	-Percentage of Shares (as a % of the total share capital of the company)	36.58

Particulars	3 months ended 31st March 2013
Fending at the beginning of the quarter	Nil
Received during the quartet	8
Disposed of during the quarter	8
Remaining unresolved at the end of the quarter	Nil

SEGMENT REPORTING

(Rs. in Millions)

	Segment Revenue
1	Income From Each Segment
	Manufacturing	4925.675
	Trading	2087.745
	Total	7013.420
2	Segment Result Profit before Interest & Tax
	Manufacturing	312.848
	Trading	32.988
	Less: Interest	130.050
	Less: Provision for Taxation	43.174
	Total Profit/(Loss) after Tax	172.612
3	Capita! Employed*	5928.105

* Capital employed has not been identified with an; of the reportable segments, as the assets used in the Company's contracted are used interchange between segments.

Note:

(1) The above Results were approved by the Board of Directors of the Company at its meeting held on 11th May 2013.

(2) In accordance with Clause 41 of the Listing Agreement with the Stock Exchanges, the Company's Statutory Auditors have conducted a "Limited Review" of the Financial Results for the quarter ended March 3 !. 20)3.

(3) The figures for the quarter ended December 31^st, 2012 are the balancing figures between audited figures in respect of the full financial year upto December 31, 2012 and the unaudited published year to date figures upto September 30, 2012, which was subjected to limited review, being the date of the end of the third quarter of the said financial year.

(4j Figures for the Corresponding quarter and that previous year are regrouped/ reclassified wherever necessary.

(5) 97,20,000 Warrants have been converted in to 4,86,00,000 Equity shares of Rs.5/- each at a price of Rs.10/- per share and allotted on 30.03.2013 to the Promoters Group of the Company and Non-promoter investors.

(6) Equity shares of the Company are listed on National Stock Exchange of India Limited, with effect from March 14, 2013.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10439033	28/06/2013	900,000,000.00	CENTRAL BANK OF INDIA	CORPORATE FINANCE BRANCH, MMO BUILDING, 1ST FL., M.  G. ROAD, FORT, MUMBAI, Maharashtra - 400023, INDIA	B80457534
2	10419529	28/03/2013	560,000,000.00	CANARA BANK	Prime Corporate Branch - II, 2nd floor, Varma Chambers, Homji Street, Fort, Mumbai., Mumbai, Maharashtra - 400001, INDIA	B73116915
3	10418504	23/02/2013	100,000,000.00	Indian Overseas Bank	NARIMAN POINT BRANCH, BAKHTAWAR BUILDING, NARIMAN  POINT BRANCH, MUMBAI, Maharashtra - 400021, INDIA	B72748361
4	10408287	11/02/2013	100,000,000.00	CANARA BANK	Prime Corporate Branch - II, 2nd floor, Varma Chambers, Homji Street, Fort, Mumbai., Mumbai, Maharashtra - 400001, INDIA	B69720910
5	10401217	12/01/2013	150,000,000.00	UNION BANK OF INDIA	INDUSTRIAL FINANCE BRANCH,, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI, Maharashtra - 400023, INDIA	B67329383
6	10369329	17/07/2012	600,000,000.00	UNION BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI, Maharashtra - 400023, INDIA	B45202801
7	10350044	31/03/2012	500,000,000.00	ANDHRA BANK	16TH FLOOR, EARNEST HOUSE, NCPA MARG, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA	B37693918
8	10308672	15/09/2011	880,000,000.00	INDIAN OVERSEAS BANK	NARIMAN POINT BRANCH, BAKHTAWAR BUILDING, NARIMAN  POINT, MUMBAI, Maharashtra - 400021, INDIA	B21813092
9	10299765	22/07/2011	250,000,000.00	INDIAN OVERSEAS BANK	NARIMAN POINT BRANCH, BAKHTAWAR BUILDING, NARIMAN  POINT, MUMBAI, Maharashtra - 400021, INDIA	B17910837
10	10280019	04/04/2011	309,000,000.00	SYNDICATE BANK	SURAT MAIN BRANCH, RATAN KUIR BUILDING, SALABATPURA MAIN ROAD, SURAT, Gujarat - 395002, INDIA	B10317964

FIXED ASSETS:

• Land
• Building and Godown
• Plant and Machinery
• Electric Installation
• Office Equipments
• Furniture and Fixtures
• Vehicles

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.60.74
UK Pound	1	Rs.92.06
Euro	1	Rs.80.60

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.