1. Summary Information

		Country	India
Company Name	LUBRIZOL INDIA PRIVATE LIMITED	Principal Name 1	Mr. Gyan Chand Daga
Status	Good	Principal Name 2	Mr. Darius Cavasji Shroff
		Registration #	11-013538
Street Address	2^nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400 025, Maharashtra, India
Established Date	20.07.1966	SIC Code	--
Telephone#	91-22-24300672	Business Style 1	Manufacturing
Fax #	91-22-24300251	Business Style 2	Marketing
Homepage	http://www.lubrizol.com	Product Name 1	Lubricants
# of employees	Not Divulged	Product Name 2	--
Paid up capital	192,000,000/-	Product Name 3	--
Shareholders	Government companies - 50.00% Foreign holdings - 50.00%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	47 Years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	A (66)
Related Company
Relation	Country	Company Name	CEO
Joint Ventures	--	Indian Oil Corporation Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,613,811,000	Current Liabilities	643,516,000
Inventories	1,865,212,000	Long-term Liabilities	55,000
Fixed Assets	1,003,912,000	Other Liabilities	783,650,000
Deferred Assets	0,000	Total Liabilities	1,427,221,000
Invest& other Assets	141,955,000	Retained Earnings	3,005,669,000
		Net Worth	3,197,669,000
Total Assets	4,624,890,000	Total Liab. & Equity	4,624,890,000
Total Assets (Previous Year)	4605,803,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales (Gross Income)	8,528,086,000	Net Profit	1,141,481,000
Sales (Gross Income) (Previous yr)	8,403,386,000	Net Profit(Prev.yr)	1,390,266,000

MIRA INFORM REPORT

Report Date :

10.12.2013

IDENTIFICATION DETAILS

Name :	LUBRIZOL INDIA PRIVATE LIMITED
Registered Office :	2^nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400 025, Maharashtra
Country :	India
Financials (as on) :	31.12.2012
Date of Incorporation :	20.07.1966
Com. Reg. No.:	11-013538
Capital Investment / Paid-up Capital :	Rs. 192.000 Millions
CIN No.: [Company Identification No.]	U23201MH1966PTC013538
TAN No.: [Tax Deduction & Collection Account No.]	MUML04740B
PAN No.: [Permanent Account No.]	AAACL0126H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Marketing of Lubricants.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (66)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 12790000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well established and a reputed company having fine track record. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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.

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	CRISIL
Rating	AA- (Long Term Rating)
Rating Explanation	High degree of safety and very low credit risk
Date	19.11.2013

Rating Agency Name	CRISIL
Rating	A1+ (Short Term Rating)
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	19.11.2013

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 DECLINED

MANAGEMENT NON CO-OPERATIVE

LOCATIONS

Registered Office / Marketing Division:	2^nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400 025, Maharashtra, India
Tel. No.:	91-22-24300672 / 0784 / 1856 / 2315 / 24222062 / 24302315 / 24370995
Fax No.:	91-22-24300251 / 24370994 / 24366097
E-Mail :	pvs@lubrizol.com indulekha.godse@lubrizol.com
Website :	www.lubrizolindia.com www.lubrizol.com
Location :	Owned
Factory 1 :	9/3, Thane Belapur Road, Turbhe, District Thane, Navi Mumbai – 400 705, Maharashtra, India
Tel. No.:	91-22-27672568 / 67759570
Fax No.:	91-22-27627155 / 67759434
Factory 2 :	T-6, MIDC, Industrial Area, Taloja, District Raigad, Maharashtra, India
Tel. No.:	91-22-27410813
Fax No.:	91-22-27410910

DIRECTORS

AS ON 18.03.2013

Name :

Mr. Gyan Chand Daga

Designation :

Alternate Director

Address :

42, Casa Grande Little Gibbs Road, Malabar Mills, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

08.09.1951

Date of Appointment :

28.11.2011

DIN No.:

00101534

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	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Whole-time director	22/09/2006	4/9/2006	1/10/2011	Active	NO
2	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Director	27/08/2007	25/09/2006	27/07/2010	Active	NO
3	U74899DL1998PTC097297	INDIANOIL PETRONAS PRIVATE LIMITED	Nominee director	27/07/2010	14/10/2006	30/09/2011	Active	NO
4	U11202KA2006PLC040251	INDIANOIL SKYTANKING LIMITED	Director	11/8/2008	24/09/2007	1/10/2011	Active	NO
5	U74900KA2010PLC053989	INDIANOIL SKYTANKING DELHI LIMITED	Director	8/6/2010	8/6/2010	1/10/2011	Active	NO
6	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Director	28/11/2011	28/11/2011	-	Active	NO
7	L45200MH1993PLC071970	ASHOKA BUILDCON LIMITED	Director	24/06/2013	18/02/2013	-	Active	NO

Name :

Mr. Darius Cavasji Shroff

Designation :

Alternate Director

Address :

Moonlight, Flat No.8, 158, M. Karve Road, Churchgate, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

08.08.1944

Date of Appointment :

22.07.2004

DIN No.:

00170680

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	U29299MH1963PTC012661	CMP PRIVATE LIMITED	Director	13/04/1989	13/04/1989	-	Active	NO
2	L29130MH1961PLC011980	SKF INDIA LIMITED	Director	3/4/1993	3/4/1993	30/04/2013	Active	NO
3	L29130MH1976PLC019147	KULKARNI POWER TOOLS LIMITED	Director	30/03/1995	30/03/1995	-	Active	NO
4	U23201DL1993PTC190652	AVI-OIL INDIA PRIVATE LIMITED	Director	6/8/1996	6/8/1996	-	Active	NO
5	L28920MH1957PLC010839	SIEMENS LIMITED	Director	20/02/1997	20/02/1997	-	Active	NO
6	U24245GA1994PTC001708	PROFESSIONAL ORAL CARE PRODUCTS PRIVATE LIMITED	Director	12/11/1998	#########	6/7/2009	Amalgamated	NO
7	U72200MH1990PLC056987	UTV SOFTWARE COMMUNICATIONS LIMITED	Director	20/05/2000	20/05/2000	16/03/2012	Active	NO
8	U26993MH1983PLC205758	UNIFRAX INDIA LIMITED	Director	6/10/2000	6/10/2000	-	Active	NO
9	L24120MH1995PLC086986	CIBA INDIA LIMITED	Director	25/01/2001	25/01/2001	30/11/2007	Amalgamated	NO
10	U67120MH2002PTC135029	SWISS RE SERVICES INDIA PRIVATE LIMITED	Director	27/02/2002	27/02/2002	-	Active	NO
11	U24110MH2003PLC142216	BAYER POLYCHEM (INDIA) LIMITED	Director	30/09/2003	30/09/2003	-	Amalgamated	NO
12	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Alternate director	22/07/2004	22/07/2004	-	Active	NO
13	U92110MH2003PTC141168	WARNER BROS PICTURES (INDIA) PRIVATE LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
14	L05190KA1921PLC036321	INGERSOLL-RAND (INDIA) LIMITED	Director	23/12/2005	23/12/2005	-	Active	NO
15	L29199GJ1962PLC001171	GMM PFAUDLER LIMITED	Director appointed in casual vacancy	13/10/2006	13/10/2006	-	Active	NO
16	U19113MH1995PTC179724	BAYER MATERIALSCIENCE PRIVATE LIMITED	Director	7/12/2006	7/12/2006	-	Active	NO
17	U26960MH2011FTC216269	UNIFRAX INDIA ENERGY SAVING MATERIALS PRIVATE LIMITED	Director	15/04/2011	15/04/2011	20/02/2013	Active	NO

Name :

Mr. David James Fries

Designation :

Director

Address :

2051, Ridgebury Drive, Painsville, OH – 44077, USA

Date of Birth/Age :

14.02.1959

Date of Appointment :

22.07.2004

DIN No.:

00655276

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	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Director	22/07/2004	22/07/2004	Active	NO
2	U51101MH2013FTC250416	LUBRIZOL ADDITIVES INDIA PRIVATE LIMITED	Director	26/11/2013	26/11/2013	Active	NO

Name :

Mr. Madhukar Ramniklal Kumbhani

Designation :

Managing Director

Address :

99, Dariya Mahal B 80, Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

04.02.1950

Date of Appointment :

01.10.2006

DIN No.:

01902492

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	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Managing director	1/10/2006	1/10/2006	Active	NO
2	U24110MH1991PTC248032	LUBRIZOL ADVANCED MATERIALS INDIA PRIVATE LIMITED	Director	18/08/2011	26/03/2011	Active	NO

Name :

Mr. Ravinder Kumar Malhotra

Designation :

Additional Director

Address :

303, A.G.C.R. Enclave, New Delhi – 110 092, India

Date of Birth/Age :

25.06.1954

Date of Appointment :

01.07.2010

DIN No.:

02024661

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	U11201GJ2006PTC048372	INDO CAT PRIVATE LIMITED	Nominee director	16/07/2010	1/12/2007	Active	NO
2	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Director	5/5/2011	1/7/2010	Active	NO
3	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Whole-time director	21/09/2010	5/8/2010	Active	NO

Name :

Mr. John Louis Petric

Designation :

Director

Address :

9277 Regency Woods, Kirtland, OH, OHIO, 44094, United States of America

Date of Birth/Age :

07.05.1951

Date of Appointment :

11.06.2009

DIN No.:

02703611

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	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Director	11/6/2009	11/6/2009	Active	NO
2	U51101MH2013FTC250416	LUBRIZOL ADDITIVES INDIA PRIVATE LIMITED	Director	26/11/2013	26/11/2013	Active	NO

Name :

Mr. Vijay Kumar Gupta

Designation :

Alternate Director

Address :

V-33, Green Park, Delhi – 110 016, India

Date of Birth/Age :

04.06.1954

Date of Appointment :

16.03.2012

DIN No.:

03613222

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	U25190DL2010PLC205324	INDIAN SYNTHETIC RUBBER LIMITED	Director	22/08/2012	1/9/2011	30/07/2013	Active	NO
2	U74999DL2009PTC193079	DELHI AVIATION FUEL FACILITY PRIVATE LIMITED	Director	21/09/2011	2/9/2011	30/07/2013	Active	NO
3	U23200MH1996PLC102222	IOT INFRASTRUCTURE & ENERGY SERVICES LIMITED	Nominee director	13/09/2012	27/09/2011	-	Active	NO
4	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Alternate director	16/03/2012	16/03/2012	-	Active	NO

KEY EXECUTIVES

Name :	Indulekha Nitin Godse
Designation :	Secretary
Address :	JN-4/10/14, Blue Haven, Sector 10, Vashi, Navi Mumbai – 400 703, Maharashtra, India
Date of Birth/Age :	02.09.1963
Date of Appointment :	01.12.2004
PAN No.:	ACCPG6775A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 18.03.2013

Names of Shareholders	No. of Shares
The Lubrizol Corporation, U.S.A	960000
Indian Oil Corporation Limited, India	960000
TOTAL	1920000

AS ON 18.03.2013

Equity Shares Break Up	Percentage of Holding
Government companies	50.00
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Marketing of Lubricants.
Products :	· Engine Oil – Additives Viscosity Index- Improvers and Pour Point Depressant Industrial Oil – Additives
Brand Name :	“ LUBRIZOL”

PRODUCTION STATUS (AS ON 31.12.2011)

Particulars	Installed Capacity (MTPA)@	Actual Production (MTPA)
Finished Additive packing Chemical Additives inclusive of: Metal Working Oil Additives, Anti – Oxidant, Corrosion Inhibitor, Detergent Additives, Dispersant, Additives, Extreme Pressure Additives, V.I. Improvers /Pour Point Depressants and Flow Improvers	60000	47142
Raw Material - Isobutylene	3000	--

Note:

1. @ indicates as certified by Management

2. Production figures are inclusive of production for captive consumption.

3. Since licenses are no longer required for products manufactured, the data for the same are not given.

GENERAL INFORMATION

No. of Employees :	Not Divulged
Bankers :	· State Bank of India, Commercial Branch, Opposite Shivaji Vidyalaya, Dadar (East), Mumbai – 400 014, Maharashtra, India · Bank of India, Mumbai, Maharashtra, India · ICICI Bank Limited, Mumbai, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Plot No. 12, Dr. Annie Besant Road, Opposite Shivsagar Estate, Worli, Mumbai-400018, Maharashtra, India
Tel. No.:	91-22-66679000
Fax No.:	91-22-66679025 / 66679100
PAN No.:	AACFD4815A
Joint Ventures :	· Lubrizol Corporation Indian Oil Corporation Limited

CAPITAL STRUCTURE

AS ON 31.12.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1920000	Equity Shares	Rs.100/- each	Rs. 192.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1920000	Equity Shares	Rs.100/- each	Rs. 192.000 Millions

NOTES

a. Reconciliation of number of shares outstanding at the beginning and end of the year

Equity Shares outstanding at the beginning and end of the year - 1,920,000.00

b. Rights and restrictions attached to Equity Shares

The company has a single class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company in proportion to their shareholding.

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	192.000
(b) Reserves & Surplus	3005.669
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	3197.669
(3) Non-Current Liabilities
(a) long-term borrowings	0.055
(b) Deferred tax liabilities (Net)	39.795
(c) Other long term liabilities	4.441
(d) long-term provisions	180.776
Total Non-current Liabilities (3)	225.067
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	499.392
(c) Other current liabilities	139.683
(d) Short-term provisions	563.079
Total Current Liabilities (4)	1202.154
TOTAL	4624.890
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1003.912
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	141.955
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	113.770
(e) Other Non-current assets	1.665
Total Non-Current Assets	1261.302
(2) Current assets
(a) Current investments	0.000
(b) Inventories	1865.212
(c) Trade receivables	812.372
(d) Cash and cash equivalents	628.623
(e) Short-term loans and advances	51.514
(f) Other current assets	5.867
Total Current Assets	3363.588
TOTAL	4624.890

SOURCES OF FUNDS		31.12.2011	31.12.2010
SHAREHOLDERS FUNDS
1] Share Capital		192.000	192.000
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		2868.350	2593.820
4] (Accumulated Losses)		0.000	0.000
NETWORTH		3060.350	2785.820
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.053	0.045
TOTAL BORROWING		0.053	0.045
DEFERRED TAX LIABILITIES		34.631	45.397
TOTAL		3095.034	2831.262
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		835.630	758.302
Capital work-in-progress		81.598	45.946
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1745.322	1508.114
	Sundry Debtors	873.599	715.214
	Cash & Bank Balances	884.932	890.997
	Other Current Assets	0.000	0.000
	Loans & Advances	184.722	218.630
Total Current Assets		3688.575	3332.955
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	610.333	785.758
	Other Current Liabilities	43.426	10.649
	Provisions	857.010	509.534
Total Current Liabilities		1510.769	1305.941
Net Current Assets		2177.806	2027.014
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		3095.034	2831.262

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.12.2012	31.12.2011	31.12.2010
	GROSS INCOME			8528.086	8403.386	7286.194
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			1805.564	2127.551	1894.891
Less	FINANCIAL EXPENSES			0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION			1805.564	2127.551	1894.891
Less/ Add	DEPRECIATION/ AMORTISATION			110.946	93.226	87.576
	PROFIT BEFORE TAX			1694.618	2034.325	1807.315
Less	TAX			553.137	644.059	597.699
	PROFIT AFTER TAX			1141.481	1390.266	1209.616
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			581.713	446.210	431.035
Less	APPROPRIATIONS
			Transfer to General Reserve	114.148	139.027	120.961
			Proposed Final Dividend	480.000	576.000	307.200
			Tax on Proposed Dividend	77.868	93.442	49.836
			Tax on Interim Dividend	62.294	62.295	102.044
			Interim Dividend	384.000	384.000	614.400
	BALANCE CARRIED TO THE B/S			604.884	581.712	446.210
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of exports		733.661	805.975	681.878
		Commission Earnings		17.873	17.832	14.386
		Discount Received		0.927	1.009	0.675
	TOTAL EARNINGS			752.461	824.816	696.939
	IMPORTS
		Raw Materials		1170.496	739.208	680.805
		Intermediates		1810.180	1407.406	1094.786
		Traded		10.010	10.858	14.897
		Stores and Spares		13.579	8.742	6.374
		Capital Goods		46.912	27.594	17.786
	TOTAL IMPORTS			3051.177	2193.808	1814.648
	Earnings Per Share (Rs.)			594.52	72.41	63.01

KEY RATIOS

PARTICULARS		31.12.2012	31.12.2011	31.12.2010
Return on Total Assets (PBT/Total Assets}	(%)	38.79	44.96	44.18
Return on Investment (ROI) (PBT/Networth)		0.53	0.66	0.65
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.80	2.44	2.55

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)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	Yes
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

LITIGATION DETAILS

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Lodging No: ITXAL/727/2012 Filing Date: 10/05/2012 Reg. No.: ITXA/560/2012 Reg. Date: 13/06/2012

Petitioner: COMMISSIONER OF INCOME TAX Respondent: M/S LUBRIZOL INDIA LTD.,

Petn. Adv : A.R. MALHOTRA (0) Resp. Adv:- ATUL K. JASANI (0)

District: MUMBAI

Bench: DIVISION

Status: Pre-Admission Category: TAX APPEALS

Last Date: 29.01.2014 Stage:

Last Coram: ACCORDING TO SITTING LIST

ACCORDING TO SITTING LIST

INDEX OF CHARGES

S. No	Charge ID	Date of Charge Creation /Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN
1	10137422	21/11/2008	120,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, OPPOSITE SHIVAJI VIDYALAYA, DADAR (EAST), MUMBAI - 400014, MAHARASHTRA, INDIA	A54505193

UNSECURED LOAN

Particulars	31.12.2012 (Rs. In Millions)	31.12.2011 (Rs. In Millions)
Long Term Borrowings
Loan from Related Party	0.055	0.053
TOTAL	0.055	0.053

SALES AND MARKETING

Domestic sales volume in 2012 is 4.89 % lower than in 2011 due to economic shutdown.

Export sales volume in 2012 is 25.26 % lower than in 2011 due to reduced demand from LZ. The company expects future export sales to be lower in coming years.

FIXED ASSETS

· Lease hold land

Factory building

Plant machinery

Office equipments

Furniture and fixtures

Motor 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. 61.18
UK Pound	1	Rs. 100.01
Euro	1	Rs. 83.82

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		66

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.