MIRA INFORM REPORT

Report Date :

06.12.2013

IDENTIFICATION DETAILS

Name :	YORK PRINT PRIVATE LIMITED
Registered Office :	G.S. Road, 9^th Mile, Baridua, District Ri-Bhoi - 781023, Meghalaya
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	10.01.2002
Com. Reg. No.:	13-006726
Capital Investment / Paid-up Capital :	Rs.31.980 Millions
CIN No.: [Company Identification No.]	U21029ML2002PTC006726
TAN No.: [Tax Deduction & Collection Account No.]	SHLY00013G
PAN No.: [Permanent Account No.]	AAACY1547R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Printed Folded Cartoons and Packaging Materials.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 1360000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a part of MEHRA GROUP OF COMPANIES. It is an established company having satisfactory track record. Profit and sales turnover of the company appears to be decent. Trade relations are reported to be fair. Business is active. Payment terms are usually correct. The company can be considered for business dealing 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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan: “BBB-”
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	May, 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.

LOCATIONS

Registered Office / Factory 1 :	G.S. Road, 9^th Mile, Baridua, District Ri-Bhoi - 781023, Meghalaya, India
Tel. No.:	91-361-2896697
Fax No.:	Not Available
E-Mail :	yorkprintpvtltd@vsnl.net.in office@yorkprint.in sales@yorkprint.in seta@yorkprint.in info@skpt.co.in
Location :	Owned
Corporate Office :	23A, NSRD, 7^th Floor, Room No. 10, Kolkata - 700001, West Bengal, India
Head Office :	703, Orion Towers, Christian Basti, G S Road, Guwahati – 781005, Assam, India
E-Mail :	enquiry@yorkprint.in
Admin Office :	Behind Sohum Shoppe, Eastern Roadways Compound, G.S. Road, Christian Basti, Guwahati, Assam, India
Sales Office :	S/13, Raj Cresent, Royal Complex, Eksar Road, Borivali (West), Mumbai - 400092, Maharashtra, India
Tel. No.:	91-22-28917614/12783
Fax No.:	91-22-28336501
Factory 2 :	Dewduar, Kamrup - 781101, District Assam, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Amit Kumar Mehra

Designation :

Director

Address:

B G 40, Salt lake City, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

03.03.1945

Date of Appointment :

15.09.2004

DIN No.:

00772842

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	U21099WB1989PTC047760	YORK PRINT & PACK PRIVATE LIMITED	Director	24/10/1989	24/10/1989	Active	NO
2	U21014WB1994PTC066189	U V COATERS PVT LTD	Director	29/11/1994	29/11/1994	Active	NO
3	U21029ML2002PTC006726	YORK PRINT PRIVATE LIMITED	Director	15/09/2004	15/09/2004	Active	NO

Name :

Mr. Anil Kumar Mehra

Designation :

Director

Address :

B G 40, Salt lake City, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

15.09.1958

Date of Appointment :

10.01.2002

DIN No.:

00768815

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	U21099WB1989PTC047760	YORK PRINT & PACK PRIVATE LIMITED	Director	24/10/1989	24/10/1989	Active	NO
2	U21029ML2002PTC006726	YORK PRINT PRIVATE LIMITED	Director	10/1/2002	10/1/2002	Active	NO

Name :

Mr. Ashim Kumar Mehra

Designation :

Director

Address :

B G 40, Salt lake City, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

30.05.1951

Date of Appointment :

15.09.2004

DIN No.:

00798351

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	U21099WB1989PTC047760	YORK PRINT AND PACK PRIVATE LIMITED	Director	24/10/1989	24/10/1989	Active	NO
2	U21029ML2002PTC006726	YORK PRINT PRIVATE LIMITED	Director	15/09/2004	15/09/2004	Active	NO
3	U74950ML2004PTC007363	OXFORD PACKAGING PRIVATE LIMITED	Director	1/4/2005	1/4/2005	Active	NO
4	U21029WB2002PTC094982	YORK CARDS PRIVATE LIMITED	Director	30/09/2009	25/07/2009	Strike off	NO
5	U22219WB1996PTC078997	WIDE ANGLE PACKAGING SYSTEM PRIVATE LIMITED	Director	29/09/2011	1/11/2010	Active	NO

Name :

Mr. Gautam Tandon

Designation :

Director

Address :

B G 40, Salt lake City, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

13.01.1975

Date of Appointment :

15.09.2004

DIN No.:

00769149

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	U21099WB1989PTC047760	YORK PRINT AND PACK PRIVATE LIMITED	Director	24/05/2003	24/05/2003	Active	NO
2	U21029ML2002PTC006726	YORK PRINT PRIVATE LIMITED	Director	15/09/2004	15/09/2004	Active	NO
3	U74950ML2004PTC007363	OXFORD PACKAGING PRIVATE LIMITED	Director	2/12/2011	2/12/2011	Active	NO

Name :

Mr. Manoranjan Singh

Designation :

Director

Address :

5/7A, Jessor Road, Kolkata – 700028, West Bengal, India

Date of Birth/Age :

01.11.1953

Date of Appointment :

15.09.2004

DIN No.:

01470953

Name :

Mr. Milan Kumar Mehra

Designation :

Director

Address :

B G 40, Salt lake City, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

09.05.1953

Date of Appointment :

07.05.2008

DIN No.:

00768852

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	U21099WB1989PTC047760	YORK PRINT AND PACK PRIVATE LIMITED	Director	24/10/1989	24/10/1989	Active	NO
2	U21014WB1994PTC066189	U V COATERS PRIVATE LIMITED	Director	29/11/1994	29/11/1994	Active	NO
3	U22219WB1996PTC078997	WIDE ANGLE PACKAGING SYSTEM PRIVATE LIMITED	Director	2/4/1996	2/4/1996	Active	NO
4	U21029ML2002PTC006726	YORK PRINT PRIVATE LIMITED	Director	7/5/2008	7/5/2008	Active	NO

Name :

Mr. Rajeev Kumar Kataruka

Designation :

Director

Address :

Lake District, Flat No. 8E/8F, Floors, Castle Block - 5, 74 Narkeldanga Main Road, Kolkata - 700054, West Bengal, India

Date of Birth/Age :

01.02.1966

Date of Appointment :

10.01.2002

DIN No.:

00826617

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	U51909WB1999PTC090637	JAGDAMBA IMPEX PRIVATE LIMITED	Director	24/11/1999	24/11/1999	-	Active	NO
2	U17297WB1997PTC084638	COMFORT SYNTHETICS PRIVATE LIMITED	Director	3/8/2000	3/8/2000	3/12/2010	Active	NO
3	U21029ML2002PTC006726	YORK PRINT PRIVATE LIMITED	Director	10/1/2002	10/1/2002	-	Active	NO
4	U70101WB2005PTC102185	GANPATI MANSION PRIVATE LIMITED	Director	10/3/2005	10/3/2005	15/07/2008	Active	NO
5	U45400WB2005PTC106400	SHREE GURU REALTORS PRIVATE LIMITED	Director	29/11/2005	29/11/2005	-	Active	NO
6	U22219WB1980PLC033111	GRAPHITECH INDIA LIMITED	Director	28/12/2006	28/12/2006	19/05/2009	Active	NO
7	U70101WB2004PTC098720	SIDDHI VINAYAK DEVELOPERS PRIVATE LIMITED	Director	5/2/2007	5/2/2007	8/12/2007	Active	NO
8	U74900WB2005PTC102186	BABA BHOOTHNATH COMMEX PRIVATE LIMITED	Director	5/2/2007	5/2/2007	8/12/2007	Active	NO
9	U01409WB2005PTC103046	VIDHI FARMING PRIVATE LIMITED	Director	2/3/2007	2/3/2007	8/12/2007	Active	NO
10	U22219WB1996PTC078997	WIDE ANGLE PACKAGING SYSTEM PRIVATE LIMITED	Whole-time director	29/09/2008	29/03/2008	-	Active	NO
11	U01409WB2006PTC109525	UTKARSH HORTICULTURE PRIVATE LIMITED	Director	15/07/2008	15/07/2008	-	Active	NO
12	U51909WB2007PTC120719	INDIGO TIE-UP PRIVATE LIMITED	Director	16/03/2010	16/03/2010	-	Active	NO
13	U51909WB2010PTC154880	MANGALKAMNA TRADELINK PRIVATE LIMITED	Director	29/09/2011	25/11/2010	-	Active	NO
14	U51909WB2010PTC154869	GANESHVANI COMMERCIAL PRIVATE LIMITED	Director	30/09/2011	25/11/2010	-	Active	NO
15	U70109WB2011PTC170990	SIGNET REALTORS PRIVATE LIMITED	Director	21/12/2011	21/12/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Note: Shareholding and Allottees details file attached.

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	57.08
Directors or relatives of Directors	27.90
Other top fifty shareholders	15.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Printed Cartons.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Axis Bank Limited, Chibber House, G S Road, Guwahati - 781005, Assam, India

HDFC Bank Limited, Hdfc Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Corporation Bank, Salt Lake City Branch, Cf - 335;, Kolkata - 700064, West Bengal, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loan	71.283	111.868
Home Loan	8.619	0.000
Hirc Purchase Loans	2.068	0.872
SHORT TERM BORROWINGS
Cash Credit	84.721	62.921
Total	166.691	175.661

NOTE:

LONG TERM BORROWINGS

(b) Term Loan is secured against hypothecation of all the fixed assets of the company (Present and Future) financed under the limit. The Loan is further secured against equitable mortgage of immovable propefiy at C T Road, P S Bally, Howrah owned by Mr. Devendra Singh, residential land & building situated at Dag No. 2300, 2386,2385 and 2298, Khatian No.l J. L. No.-I3, RS No.l77, P S Dumdum, Kolkata standing in the name of Mr. Manoranjan Singh and factory land and building of Assam unit of the Company as collateral security. Further secured against lien on fixed deposits of Rs. 1.000 Million with bank, personal guarantee

(c) Term Loan carries interest rate of Base rate plus 5.20% i.e. 15.70% p,a.

(d) Hire Purchme Loan from Bank is secur€d by hypothecation ofthe rcspective vehicle financed by it.

(c) Home Loan from ICICI Bank Limited is secured by hypothecation of a flat acquired in terms of agreement to sale in the name ofthe Conpany and Mr. Anil Kumar Mehra, director of the company. The flat is under construction and shown as capital work-in-progrcss, It is contended that the flat has been acquired for the purpose of the Conpany's business and therefore the loan has been considered as the liability of the Company and the monthly instalment due are being paid by the Company. The loan carries floating interest rate.

SHORT TERM BORROWINGS

(a) Cash Credit account from the bank is secured against stock and sundry debtors, The limit for cash credit ftom bank is Rs.80.000 Millions (previous year Rs. 60.000 Millions). The balance amount appearing in the accounts represent excess issue of cheques. All the other loans are further secured against lien on fixed deposits of Rs. 10.400 Millions (previous year Rs.10.048 Millions) with bank, personal gurantee of directors, pledge of assets of relatives of directos.

(b) Cash Credit carries interest rate of base rate plus 4.60% i.e. 15.10%p.a.

Banking Relations :	--
Auditors :
Name :	Durga Prasad Poddar Chartered Accountant
Address :	74, Bentic Street, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22377160/ 22373751
PAN No:	AEKPP9129F
Parties where key management personnel or their relatives have significant influence :	· Lookwell Labels Private Limited Oxford Packaging Private Limited Oxford Paper and Board Wide Angle Packaging Systems Private Limited York Print and Pack

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,198,000	Equity Shares	Rs.10/- each	Rs.31.980 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	31.980	30.334	20.873
(b) Reserves & Surplus	307.310	252.303	218.553
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	1.025	5.025	15.700
Total Shareholders’ Funds (1) + (2)	340.315	287.662	255.126
(3) Non-Current Liabilities
(a) long-term borrowings	89.231	118.175	144.877
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.137	1.370	1.305
Total Non-current Liabilities (3)	91.368	119.545	146.182
(4) Current Liabilities
(a) Short term borrowings	84.777	62.978	54.389
(b) Trade payables	97.682	82.260	60.229
(c) Other current liabilities	83.876	72.322	104.375
(d) Short-term provisions	4.053	0.375	1.868
Total Current Liabilities (4)	270.388	217.935	220.861
TOTAL	702.071	625.142	622.169
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	321.361	332.191	340.846
(ii) Intangible Assets	0.410	0.354	0.439
(iii) Capital work-in-progress	64.114	6.788	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.044	1.719	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.737	3.836	4.010
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	389.666	344.888	345.295
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	100.952	100.250	114.146
(c) Trade receivables	70.314	45.201	48.832
(d) Cash and cash equivalents	23.338	18.399	9.510
(e) Short-term loans and advances	34.069	34.772	22.187
(f) Other current assets	83.732	81.632	82.199
Total Current Assets	312.405	280.254	276.874
TOTAL	702.071	625.142	622.169

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	802.081	720.885	591.715
		Other Income	6.143	4.254	1.704
		TOTAL (A)	808.224	725.139	593.419
Less	EXPENSES
		Materials and Manufacturing Expenses			450.416
		Personnel Expenses			27.722
		Administrative, Selling and Other Expenses			25.241
		Provision For Gratuity Written Back			(0.070)
		TOTAL (B)	757.236 (Including Financial Expenses and Depreciation)	692.996 (Including Financial Expenses and Depreciation)	503.309
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				90.110
Less	FINANCIAL EXPENSES (D)				40.865
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				49.245
Less/ Add	DEPRECIATION/ AMORTISATION (F)				20.938
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		50.988	32.143	28.307
Less	TAX (H)		10.795	6.627	6.210
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		40.193	25.516	22.097
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		107.189	81.673	59.576
	BALANCE CARRIED TO THE B/S		147.382	107.189	81.673
	EARNINGS IN FOREIGN CURRENCY		0.031	(0.026)	1.895
	IMPORTS
		Raw Materials	0.000	5.969	5.927
		Components and Spare Parts	0.000	2.655	0.299
		Capital Goods	4.077	5.406	0.000
	TOTAL IMPORTS		4.077	14.030	6.226
	Earnings / (Loss) Per Share (Rs.)		12.57	8.41	10.59

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	4.97	3.52	3.72
Net Profit Margin (PBT/Sales)	(%)	6.36	4.46	4.78
Return on Total Assets (PBT/Total Assets}	(%)	7.99	5.21	4.55
Return on Investment (ROI) (PBT/Networth)		0.15	0.11	0.11
Debt Equity Ratio (Total Debt/Networth)		0.51	0.63	0.78
Current Ratio (Current Asset/Current Liability)		1.16	1.29	1.25

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10445060	04/07/2013	128,400,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	B83064931
2	10443421	13/09/2013 *	164,600,000.00	AXIS BANK LIMITED	CHIBBER HOUSE, G S ROAD, GUWAHATI - 781005, ASSAM, INDIA	B88488440
3	10116007	23/06/2008	730,550.00	THE FEDERAL BANK LIMITED	SHAKESPEARE SARANI BRANCH,, 21A, SHAKESPEARE SARANI, KOLKATA - 700017, WEST BENGAL, INDIA	A43291244

* Date of charge modification

FINANCIAL RESULTS AND OPERATIONS

The company is engaged in production of printed folded cartoons and packaging materials. Both of the unit the Company at Deuduar, Changsari, Assam and 9^th Mile, Baridua, Meghalaya are operating at full swing.

As conveyed to yourself, through previous year's Director Report, that the company was in process of setting up of new Manufacturing unit at Deuduar, Changsari, Assam, for manufacturing of manufacturing Litho Laminated corrugated boxes, folded cartons and brown/shippers cartons and the Directors was hopeful to start commercial production for this unit by December 2013. The turnover of the Company has shown growth in the current financial year, in comparison to the previous year, and accordingly the net profit of the company has also increased.

FINANCE

The Company has obtained financial assistance from its bankers Corporation Bank to meet its short term working capital requirements. During the year the Cash Credit Limit of the Company was enhanced from Rs. 60.000 Millions. to Rs. 80.000 Millions and the Term Loan was reviewed at existing level.

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Related Panies
From Director	0.000	0.198
From Shareholders	5.150	3.330
Others
From Shaleholders	2.111	1.907
From Body Corpomtes	0.000	0.000
SHORT TERM BORROWINGS
Others
From Body Corporates	0.056	0.057
Total	7.317	5.492

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
a) Claims against the Compiny not acknowledged as debt lncome Tax	1.765	8.098
Electricity Charges	1.403	1.403
b) Liability against capital commitments towards purchase of capital goods outstanding (net of advances)	26.193	0.000

Notes:

(i) The Company does not expect any reimbursements in respect of the above contingent liabilities.

(ii) The company has paid electricity charges on a lump sum basis as per the old tariff as Byrnihat Industries Associalion (trade body of which company is a member) has filed a joint petition with the Appellate Tribunal for review of tariff

(iii) It is not practicable to estimate the timing of cash outflows, if any, in respect of matters at (a) pending resolulion ofthe appellate proceedings.

FIXED ASSETS

v Tangible Assets

Freehold Land

Building

Plant and Machinery

Block, Dies and Templates

Laboratorty Equipments

Computer

Furniture and fixture

Vehicles

v Intangible Assets

Computer Software

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.61.69
UK Pound	1	Rs.101.08
Euro	1	Rs.84.07

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.