MIRA INFORM REPORT

Report Date :

04.02.2013

IDENTIFICATION DETAILS

Name :	ANUPAM INDUSTRIES LIMITED
Registered Office :	138, GIDC Estate, Vithal Udhyog Nagar, district Anand-388121, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.10.1998
Com. Reg. No.:	04-034888
Capital Investment / Paid-up Capital :	Rs.537.943 Millions
CIN No.: [Company Identification No.]	u29199gj1998plc034888
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of EOT Cranes and Galiath Cranes.
No. of Employees :	1900 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 7200000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. General financial position is good. Trade relations are reported as fair. Business is active. Payments are reported to be 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.

INFORMATION PARTED BY

Name :	Mr. Gokul
Designation :	Assistant Accounts Manager
Contact No.:	91-9998568151
Date :	07.06.2012

LOCATIONS

Registered Office/ Factory 1 :	138, GIDC Estate, Vithal Udhyog Nagar, district Anand-388121, Gujarat, India
Tel. No.:	91-2692-236118
Mobile No.:	91-9998568151 (Mr. Gokul)
Fax No.:	91-2692-236324
E-Mail :	anupamgroup@gmail.com info@rushabhinfosoft.com
Website :	www.anupamgroup.com
Location :	Leased
Factory 2 :	Plot 1210-1213, 1313 P, GIDC, Vithal Udyognagar-388121, Gujarat, India
Factory 3 :	Plot 199, 200, 201 A GIDC, Vithal Udyognagar-388121, Gujarat, India
Factory 4 :	Nadiad – Dakor road, Village Salun, Gujarat, India
Factory 5 :	1804/1, 1805/1, 2 and 3, GIDc, Vithal Udyognagar-388121, Gujarat, India
Branch Office :	Located At: · Chennai · Thane, · Kolkata · Ghaziabad · Ranchi

DIRECTORS

As on 30.09.2011

Name :	Mr. Jagdishchandra Chhotalal Patel
Designation :	Chairman
Address :	Anupam Nana Bazar, Vallabh Vidyanagar-388001, Gujarat, India
Date of Birth/Age :	06.01.1940
Date of Appointment :	29.10.1998
Din No.:	00509578
Name :	Mr. Mehul Jagdishchandra Patel
Designation :	Managing Director
Address :	Anupam Nana Bazar, Vallabh Vidyanagar-388001, Gujarat, India
Date of Birth/Age :	17.07.1969
Date of Appointment :	29.10.1998
Din No.:	00509597
Name :	Ms. Shreya Mehul Patel
Designation :	Executive Director
Address :	Anupam Nana Bazar, Vallabh Vidyanagar-388001, Gujarat, India
Date of Birth/Age :	13.12.1969
Date of Appointment :	29.10.1998
Din No.:	00509616
Name :	Mr. Bharat Banka
Designation :	Director
Address :	4/B-164, Kalpataru Estate Building 4 CHS Limited, Jog Vik Link Road, Behind Poonam Nagar, Jogeshwari Opposite ONGC Colony, Mumbai-400060, Maharashtra, India
Date of Birth/Age :	22.09.1969
Date of Appointment :	15.02.2010
Din No.:	01581838
Name :	Mr. P.G.R. Prasad
Designation :	Independent Director
Address :	Sreevalsom, Lalbhag Road, DPI Junction, Thycaud, Thiruvananthapuram-695014, Kerala, India
Date of Birth/Age :	12.12.1945
Date of Appointment :	01.11.2010
Din No.:	00929169

KEY EXECUTIVES

Name :	Mr. Gokul
Designation :	Assistant Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Preferences Shares	No. of Equity Shares
Mehul Jagdishchandra Patel	--	3198367
Jagdishchandra Chhotalal Patel	--	187997
Shreya Mehul Patel	--	414844
Kuntal Jagdishchandra Patel	--	2938
Pritesh Pramodbhai Patel	--	40
Meena Pritesh Patel	--	40
Aditya Birla Private Equity Trust A/C Aditya Birla Private Equity Fund 1, India	499900	100
Total	499900	3804326

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of EOT Cranes and Galiath Cranes.
Exports :
Products :	EOT Cranes
Countries :	· Oman · Uganda
Imports :
Products :	Raw Materials
Countries :	· Germany · China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Installed Capacity*	Actual Production
EOT Cranes	350 Nos. [In Tonnes 33000]	251
Tower Cranes	60 Nos.	21

NOTE: * As certified by the Management, being technical matter.

GENERAL INFORMATION

Suppliers :

· Ashish Steel

· Essar Steel

Customers :

Wholesalers and Retailers

· Reliance

· Tata

· L and T

No. of Employees :

1900 (Approximately)

Bankers :

· The Anand Mercantile Co-Op Bank Limited, Mercantile, Maharshi Dayanand Marg, Anand-388001, Gujarat, India

· Axis Bank, V V Nagar, Anand, Gujarat, India

· ICICI Bank, V V Nagar, Anand, Gujarat, India

· State Bank of India, Baroda Branch, Gujarat, India

· HDFC bank, Ahmedabad Branch, Gujarat, India

· Standard chartered Bank, Baroda Branch, Gujarat, India

· Barclays Bank PLc

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Working Capital Loan	924.853	528.147
Other Debts	208.422	118.339
Interest Accrued due Other Debts	2.269	1.231
Total	1135.544	647.717
Unsecured Loan
Directors Loan	40.186	32.536
Total	40.186	32.536

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins And Sells Chartered Accountant
Address :	Heritage, 3^rd Floor, Near Gujarat Vidyapith, Off Ashram Road, Ahmedabad-380014, Gujarat, India
Pan No.:	AADFD2337G
Associates/Subsidiaries :	Anupam Cranes and Equipments Private Limited [U29259GJ1992PTC016918]

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs.40.000 Millions
500000	Preferences Shares	Rs.1000/- each	Rs.500.000 Millions
	Total		Rs.540.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3804326	Equity Shares	Rs.10/- each	Rs.38.043 Millions
499900	Preferences Shares	Rs.1000/- each	Rs.499.900 Millions
	Total		Rs.537.943 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		537.943	437.943	38.042
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1272.910	969.573	528.949
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1810.853	1407.516	566.991
LOAN FUNDS
1] Secured Loans		1135.544	647.717	802.087
2] Unsecured Loans		40.186	32.536	7.713
TOTAL BORROWING		1175.730	680.253	809.800
DEFERRED TAX LIABILITIES		38.987	29.386	16.345
TOTAL		3025.570	2117.155	1393.136
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		630.470	567.611	372.118
Capital work-in-progress		224.691	1.745	32.913
INVESTMENT		19.900	19.900	1.219
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	907.759	600.169	274.038
	Sundry Debtors	1436.460	1668.520	1112.394
	Cash & Bank Balances	82.913	197.011	111.870
	Other Current Assets	556.010	0.000	0.000
	Loans & Advances	560.143	300.328	115.392
Total Current Assets		3543.285	2766.028	1613.694
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	772.055	756.104	320.753
	Other Current Liabilities	256.403	263.649	201.055
	Provisions	385.906	239.965	105.000
Total Current Liabilities		1414.364	1259.718	626.808
Net Current Assets		2128.921	1506.310	986.886
MISCELLANEOUS EXPENSES		21.588	21.589	0.000
TOTAL		3025.570	2117.155	1393.136

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	3053.443	3025.498	1939.609
		Other Income	6.806	6.934	96.171
		TOTAL (A)	3060.249	3032.432	2035.780
Less	EXPENSES
		Consumption Materials Changes Inventories	1799.603	1654.948
		Manufacturing Service Costs	262.219	213.623
		Employee Related Expenses	189.134	109.858	1578.162
		Administrative Selling Other Expenses	178.268	178.659
		TOTAL (B)	2429.224	2157.088	1578.162
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		631.025	875.344	457.618
Less	FINANCIAL EXPENSES (D)		123.466	139.012	105.345
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		507.559	736.332	352.273
Less/ Add	DEPRECIATION/ AMORTISATION (F)		47.412	40.644	9.062
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		460.147	695.688	343.211
Less	TAX (H)		156.763	255.130	116.816
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		303.384	440.558	226.395
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		17.419	1.866	0.471
Less	APPROPRIATIONS
		Transfer to General Reserve	300.000	425.000	225.000
		Proposed dividend on Pref. Shares including dividend tax	0.047	0.000	0.000
		Tax on Dividend	0.000	0.005	0.000
	BALANCE CARRIED TO THE B/S		20.756	17.419	1.866
	EARNINGS IN FOREIGN CURRENCY		28.049	0.000	13.805
	IMPORTS
		Raw Materials	111.424	111.818	61.629
		Capital Goods	4.446	21.862	7.049
	TOTAL IMPORTS		115.870	133.680	68.678
	Earnings / (Loss) Per Share (Rs.)
	Basic		79.75	115.80	59.51
	Diluted		71.10	114.12	59.51

Particulars	31.03.2012
Sales Turnover [Approximately]	3030.000

Expected Sales (2012-13) : Rs.3500.000 Millions.

The above information has been parted by Mr. Gokul.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.91	14.53	11.12
Net Profit Margin (PBT/Sales)	(%)	15.07	22.99	17.69
Return on Total Assets (PBT/Total Assets}	(%)	46.73	20.87	17.28
Return on Investment (ROI) (PBT/Networth)		0.25	0.49	0.61
Debt Equity Ratio (Total Liability/Networth)		1.43	1.38	2.53
Current Ratio (Current Asset/Current Liability)		2.50	2.20	2.57

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particular	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors
Creditors due to small micro enterprises	13.156	0.000	0.000
Creditors due to others	758.899	761.104	320.753
Total	772.055	761.104	320.753

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

OPERATIONAL AND FINANCIAL REVIEW:

The year, for the first time in several years, saw almost no growth in volume. Moreover, with effect from F.Y. 2010 11, the company has adopted Accounting Standard 7 (AS 7) for reporting sales on certain selective parameters. The year evidenced no growth in top line even after abovementioned adoption of AS 7. In fact, there was a slowdown in fresh order bookings. The company had arranged for non-fund based limits, mainly comprising of Bank Guarantee limits, of Rs. 2000.000 Millions in anticipation of continuation of past trends in order bookings. The actual order bookings were not up to the level budgeted and this resulted in gross under utilization of Bank Guarantee limits. This compares unfavorably with F.Y. 2009 10 positions. During last quarter of F.Y. 2009 10, they were required to exceed utilization of sanctioned Bank Guarantee / LC limits of Rs. 1130.000 Millions by earmarking lien on fund based limits, not utilized due to receipt of Private Equity fund.

In the current year, some improvement is discernable in order bookings. Moreover, the company has taken a conscious decision to explore export markets, vigorously. Until last year, good flow of domestic orders was actually a disincentive for exploration of export markets. With changed business scenario, the company has taken all efforts to exploit export markets and to begin with, has established in cooperation with a set of professionals, a full-fledged export front office at Dubai to look after the Middle East territory. Their prospective Joint Venture partner, Mitsubishi Heavy Industries Limited is expected to employ their resources to source business for us, for special duty and ladle cranes. Likewise, territories like South Korea and Europe have been earmarked for special efforts.

The more or less flat performance in turnover has an interesting element whereas F.Y. 2009 10 witnessed a good top line growth assisted by a large volume of steel plant package orders, F.Y. 2010 11 despite having no big package orders, witnessed no drop in sales. This was possible on account of their very strong presence in Power, Infrastructure and general manufacturing sectors. This supports the company’s view that a core basic sales volume of Rs. 2500.000 Millions is possible from Power, Infrastructure and general manufacturing sectors and additional top line growth will be from package orders, sales of Tower cranes, Crane Kits and Hoists and Exports. A large contribution from Port Sector will be handled by the proposed Joint Venture Company.

The financial year 2010 11 saw a reduction in margins. This was due to increase in cost of inputs and also their strategy to quote more aggressively to protect and improve the market share.

FUTURE OUTLOOK:

Uncertainty prevails regarding maintenance of the past levels of high GDP growth rate in the economy. Though reasonably, there should not be a sudden drop in activity levels pertaining to Power and Infrastructure sectors, yet, India may not escape after effect of global economic uncertainty/ downturn. As spelt out, the company is taking several de-risking measures that would lessen the pains of any downturn.

For the financial year 2011 12, with the order backlog of over Rs. 2800.000 Millions as on date of this report and with substantial export orders and steel plant package orders in pipeline, the management expects to achieve 25 % to 30 % growth in sales as compared to that achieved in the F.Y. 2010 11.

The company is brief on further progress achieved in regard to the License Agreement and Joint Venture Term sheet with Mitsubishi Heavy Industries Limited, Japan for port and container cranes and material handling systems. A 51:49 Joint Venture Company with participation by Mitsubishi Heavy Industries Limited, (MHI) is expected to be formed before end of 30th September, 2011 with initial issued, subscribed and paid up capital of up to Rs. 750.000 Millions. Their collaboration with MHI has resulted in procuring two orders for the proposed Joint Venture (JV) even before formation of the JV an order from an Indian port for Rs. 980.000 Millions for Rail Mounted Quay Cranes and an order for Rs. 1900.000 Millions for Bulk Un-loaders from another Indian port. The proposed Joint Venture will have Mr. Mehul J. Patel as the 1st C.E.O. of the company to take the company forward in all respect in a span of 3 to 4 years. The company foresees Port and Container sector as a significant driver for growth in the future years and hence, the JV shall contribute positively for the company’s growth.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U29199GJ1998PLC034888
Name of the company	ANUPAM INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	138, GIDC Estate, Vithal Udhyog Nagar, district Anand-388121, Gujarat, India
Type of charge	Others
Particular of charge holder	The Anand Mercantile Co-Op Bank Limited, Mercantile, Maharshi Dayanand Marg, Anand-388001, Gujarat, India Email: info@rushabhinfosoft.com
Nature of description of the instrument creating or modifying the charge	Vehicle hire purchase Loan Agreement Dated 07.02.2012
Date of instrument Creating the charge	07.02.2012
Amount secured by the charge	Rs.0.316 Million
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of Interest @ 12.75% P A payable monthly Terms of Repayment 1. Loan repayable in 36 EMI @ Rs.0.011 Million = Per Month. Margin Margin @ 20% of Cost of Vehicle
Short particulars of the property charged	Hire Purchase of Vehicle Model Tempo Trump 40

CONTINGENT LIABILITIES NO PROVIDED FOR IN RESPECT OF:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)
Guarantees issued by Banks	763.423	667.267
Letters of Credit issued by Banks	356.604	21.454
Debts factored with recourse	0.000	100.448
Disputed Excise demand and pending under appeal	0.743	0.743
Disputed demand towards Stamp Duty and pending with Gujarat High Court	0.000	3.100
Total	1120.770	793.012

Fixed assets:-

· Land

· Building

· Plant and Machinery

· Electrical Installation

· Furniture and Fixtures

· Office Equipments

· Vehicles

· Computers

· air Conditioners

NEWS AND EVENTS:

ANUPAM AND MITSUBISHI FORM JV TO INVEST RS 2800.000 MILLIONS IN 2 UNITS AT TARAPUR AND MUNDRA, IN GUJARAT

JV TO MANUFACTURE PORT CRANES AND MATERIAL HANDLING EQUIPMENT FOR DOMESTIC AND GLOBAL MARKETS

10 NOVEMBER, 2011

The Rs. 3000.000 Millions Indian crane manufacturing major, Anupam Industries Limited and Japanese conglomerate Mitsubishi Heavy Industries Limited (MHI) have joined hands to form a new joint venture company; ANUPAM-MHI Industries Limited This JV will manufacture Port Cranes and Material Handling Equipment for domestic and global markets. It is aimed at aggressively exploring India’s fast-growing market, with the global markets in sight.

Elaborating on the plans for this new JV, Mr. Mehul Patel, Managing Director of Anupam Industries Limited and CEO of new JV Company, said, “The two JV partners will invest equity capital of Rs. 1880.000 Millions in ANUPAM-MHI Industries, with Anupam holding 51% and MHI owning 49%. The head office will be located at Anand in the state of Gujarat and two manufacturing units will be set up at Anand and Mundra in the state.”

Mr. Kanji Obata, Chairman of new JV said, “Port crane and equipment market is expected to grow significantly in India, Middle East, Asian Countries and Latin America. Going forward, leveraging MHI brand, reputation and global customer base with JV’s cost competitive production base and aggressive marketing the JV expects a reasonable market share and position, globally.”

The first phase of Capex for the JV has been finalised with a capital expenditure of Rs. 2800.000 Millions. To facilitate fabrication and manufacture of these gigantic products, an inland manufacturing facility spread over 300,000 square metres of land area at Tarapur near Anand, Gujarat is in progress.

Port cranes (ship-to-shore, rail mounted gantry, rubber tyred gantry) require a seafront facility for final assembly and roll off of products into barges. Towards this purpose, Anupam-MHI has arranged for 120,000 square metres of land at Mundra Port and Special Economic Zone (MPSEZ) along with a load out jetty for roll-on / roll-off for the completely erected and commissioned equipment on to the barge / vessel for onward dispatch to customers.

When the facilities are in place at Anand and Mundra, Anupam-MHI will have total manpower strength of around 2000 people. This facility would be the first and only of its kind in India and one of the very few in the world. The first phase will have sufficient capacity to generate sales of Rs. 8000.000 Millions. Prospects for the next stage of expansion happening seamlessly and soon are very bright in view of the encouraging market potential.

The partnership Company has already bagged its first 2 orders: Rs 1000.000 Millions worth order for 3 units of ship-to-shore container handling cranes (RMQC) from JNPT and another significant order of around Rs. 2000.000 Millions plus for 6 units of ship unloaders from Krishnapatnam Port. This Private Sector Port has an option to order further 4 nos. of unloaders around Rs. 1350.000 Millions.

Earlier, in April 2010, MHI had agreed to license its crane and material handling equipment technology for large-scale ports, including container cranes, to Anupam Industries Limited, India's largest overhead crane builder. Under this license agreement, the company has already executed higher capacity forging and ladle crane orders for L and T and Jindal Steel and Power. This JV will further strengthen the ties between the two partners. By combining MHI’s product development and manufacturing expertise and engineering know-how relating to installation with Anupam’s production bases and local marketing/service network, the two companies are engaged dynamically to develop their market in India and globally.

The new company will handle manufacturing, domestic marketing and after-sales service for port-use loading and unloading equipment, including container cranes and unloaders; bulk material handling equipment and also large ladle cranes. MHI shall look after global marketing and associated services through its vast global network.

The JV is expected to commence operations in the first half of 2012 and will target an annual production of 60 units.

Mitsubishi Heavy Industries, Limited (MHI), headquartered in Tokyo, Japan, is one of the world’s leading heavy machinery manufacturers, with consolidated sales of 2,903.7 billion yen in fiscal 2010. MHI’s diverse line-up of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems.

FIRST EVER 350T FORGING CRANES IN INDIA FOR L AND T

BECOME THE FIRST COMPANY IN INDIA TO MANUFACTURE 350T FORGING CRANES

Anupam Industries limited successfully manufactured and supplied 2 numbers of 350/50T forging cranes to L and T Special Steel and Heavy Forging plant at Hazira, Gujarat. This is the first ever forging crane of 350T capacity manufactured in India. These cranes are manufactured under technical license agreement from Mitsubishi Heavy Industries, Limited, (MHI), Japan.

The forging crane was manufactured adhering to specific stringent norms related to critical and continuous forging application of L and T Forgings. Before the delivery of this equipment, functional testing of the entire crane was carried out at 100% safe working load (SWL) and over load testing was done at 125% successfully in the presence of L and T representatives.

The design and manufacturing processes of the crane was subjected to the stringent design practices and quality norms of MHI, Japan. These forging cranes comprise massive fabricated structures, high-end mechanical sub-assemblies, electrical drives (E-room) and PLC programming for smooth functioning and controlling. The crane girders and trolleys are made in single piece (no splice joint). Each girder weighs around 95T-100T. From the safety point of view special testing was carried out in the presence of L and T and third party surveyors at Anupam.

These crane girders were transported through special hydraulic trailers. A special mobile crane of 250T capacity with extra long boom was used for erecting and installing these girders at the L and T site. The mechanical installation was successfully completed within 10 working days with the help of Anupam’s experienced technical erection team. This heavy duty 350T forging crane will be used by L and T for forging heavy duty turbine shaft.

Speaking on the achievement, Mr. Mehul Patel, Managing Director, Anupam Industries Limited said “we believe in customer delight and innovation and we are standing strong today with this achievement due to our vast experience, technical expertise, support of MHI and whole hearted contribution of our employees. We have already created a strong presence in the steel segment by supplying high-end ladle cranes and steel mill duty cranes to various industry leaders. With this achievement we have reinforced ourselves as the specialist crane solution provider to the steel Industry.

PARTNERING PROGRESS

MITSUBISHI HEAVY INDUSTRIES, LIMITED (MHI) OF JAPAN

With an endeavour to provide world-class products to our customers, Anupam has joined hands with Mitsubishi Heavy Industries, Limited (MHI), Japan to manufacture rail mounted quay cranes (RMQC), rubber tyred gantry cranes (RTGC), rail mounted gantry cranes(RMGC), bulk handling systems such as continuous ship unloaders, grab bucket unloaders, stackers, reclaimers, stacker-reclaimers, ship loader and higher capacity ladle cranes and forging cranes and steel plant logistic systems.

ALFA SRL OF ITALY

To meet the growing demand of building Industry for high rise construction, we have associated with ALFA SRL, a FINALFA Group of ITALY to produce various types of Tower Cranes. With more than 40 years' experience ALFA commands the Tower Cranes market worldwide with its highly reliable range of lifting and handling solutions- ALFAMATIC, CITYMATIC, HYDROMATIC and SKYMATIC. With this association our clients get the most advanced technology in Tower Cranes and our expertise with most efficient solutions and service.

PRESTIGIOUS ORDER

We have bagged an order for supply of major critical and special featured overhead cranes for the upcoming forging factory of L and T in Gujarat; under license agreement with Mitsubishi Heavy Industries, Limited, Japan.

STAR SME

We have been awarded as the STAR SME (Small Medium Enterprise) company of the year 2009 of India. This prestigious achievement was honoured due to our hard work combined with reliability, innovation and technically superior products that delivers great values and performance. We are now geared up to achieve the highest market share and become a global dominant player.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.32
UK Pound	1	Rs.84.60
Euro	1	Rs.72.63

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	BSN

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	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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.