MIRA INFORM REPORT

Report Date :

26.02.2013

IDENTIFICATION DETAILS

Name :	FARIDA PRIME TANNERY PRIVATE LIMITED
Registered Office :	151/ 4 Mount Poonamalle Road, Ramapuram, Chennai - 600089, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.04.2005
Com. Reg. No.:	18-055925
Capital Investment / Paid-up Capital :	Rs. 70.000 millions
CIN No.: [Company Identification No.]	U19201TN2005PTC055925
TAN No.: [Tax Deduction & Collection Account No.]	CHEF03293D
PAN No.: [Permanent Account No.]	AAACF8819R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Finished Leather and Shoe Uppers for Exports and Domestic Markets.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 726000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a Flagship company of “FARIDA GROUP”. It is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

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

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	A4+ (Short Term Rating)
Rating Explanation	Having minimal degree of safety regarding timely payment of financial obligation.
Date	February 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	151/ 4 Mount Poonamalle Road, Ramapuram, Chennai- 600089, Tamil Nadu, India
Tel. No.:	91-44-22522100 / 22522518 / 22522503 / 22521515 / 22521654
Fax No.:	91-44-22492734 / 22522734
E-Mail :	Farida.tannery@gems.vsnl.net.in fpt@vsnl.com holding@farida.co.in fptadmin@farida.com
Website :	http://www.farida.com
Tannery and Processing Unit :	Zubaida Building, Thuthipet Ambur, North Arcot District, Tamil Nadu, India
Tel No :	91-4174-244201
Branches :	11, Dr. T.V. Road, Chetpet, Chennai – 600031, Tamilnadu
Tel No :	91-44-28267439 / 28272020 / 26411220
Fax No :	91-44-28261598

DIRECTORS

As on 27.09.2012

Name :

Mr. Rafeeque Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

17.09.1947

Date of Appointment :

11.04.2005

DIN No.:

00013749

Other Directorship:

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
L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	Director	29/12/1979	29/12/1979	-	Active	NO
U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Managing director	09/06/1981	09/06/1981	-	Active	NO
U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19/04/1985	19/04/1985	-	Active	NO
U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Managing director	29/09/1987	29/09/1987	-	Active	NO
U73100TN1992NPL022530	INDIAN INSTITUTE OF LEATHER PRODUCTS	Director	23/04/1992	23/04/1992	-	Active	NO
U19201TN1995PTC030691	BAER SHOES (INDIA) PRIVATE LIMITED	Director	28/03/1995	28/03/1995	25/06/2008	Active	NO
U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Managing director	17/04/1998	17/04/1998	-	Active	NO
U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Managing director	01/01/2000	01/01/2000	-	Active	NO
U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
U45203TN2001NPL047485	AMBUR ECONOMIC DEVELOPMENT ORGANISATION	Director	23/07/2001	23/07/2001	-	Active	NO
U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Managing director	12/07/2004	12/07/2004	-	Active	NO
U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Managing director	07/02/2005	07/02/2005	-	Strike off	NO
U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Managing director	07/02/2005	07/02/2005	-	Amalgamated	NO
U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28/02/2005	28/02/2005	-	Amalgamated	NO
U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
U19116TN2005PTC056220	AADIL ASHFAQUE & CO.PRIVATE LIMITED	Director	10/05/2005	10/05/2005	-	Active	NO
U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
U93090TN1996NPL035469	INDIAN LEATHER INDUSTRY FOUNDATION	Director	05/08/2006	05/08/2006	-	Active	NO
U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21/08/2007	18/06/2007	-	Amalgamated	NO
U19119TN1989PLC016997	AMBUR TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	20/06/2007	20/06/2007	-	Active	NO
U93000TN2008NPL068574	CHENNAI ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS	Director	15/07/2008	15/07/2008	-	Active	NO
U93090TN1984NPL010934	COUNCIL FOR LEATHER EXPORTS	Additional director	18/12/2010	18/12/2010	-	Active	NO
U63090TN2011PTC080447	WESTERN GATEWAY CARGO SERVICES PRIVATE LIMITED	Director	04/05/2011	04/05/2011	-	Active	NO
U74999TN1910NPL002343	SOUTHERN INDIA CHAMBER OF COMMERCE & INDUSTRY	Director	07/09/2011	07/09/2011	-	Active	NO
U74999MH1957GOI010918	EXPORT CREDIT GUARANTEE CORPORATION OF INDIA LIMITED	Director	13/03/2012	13/03/2012	-	Active	NO

Name :

Mr. Israr Ahmed

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

25.01.1972

Date of Appointment :

11.04.2005

DIN No.:

00013799

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	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Director	17/04/1998	17/04/1998	-	Active	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
3	U18209TN1995PTC032647	EXETER SHOES PRIVATE LIMITED	Managing director	01/01/2000	01/01/2000	-	Amalgamated	NO
4	U19201TN2001PTC046498	CHENNAI FOOTWEAR PRIVATE LIMITED	Director	25/01/2001	25/01/2001	-	Amalgamated	NO
5	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
6	U19201TN2003PTC050177	STANFORD SHOES PRIVATE LIMITED	Director	13/01/2007	13/01/2007	-	Amalgamated	NO
7	U19200TN2008PTC067408	PAALAR SHOES PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO

Name :

Mr. Rasheed Ahmed Mecca

Designation :

Director

Address :

No. 6, Nawab Habibullah Avenue, Iind Cross Street, Anderson Road, Chennai – 600 006, Tamilnadu, India

Date of Birth/Age :

01.01.1949

Date of Appointment :

11.04.2005

DIN No.:

00013760

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	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19/04/1985	19/04/1985	-	Active	NO
2	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Director	29/09/1987	29/09/1987	-	Active	NO
3	U18209TN1992PTC022111	FARIDA LEATHERWARE PRIVATE LIMITED	Director	31/01/1992	31/01/1992	-	Active	NO
4	U33209TN1999PTC043409	FARIDA NEWLINE STUDIO PRIVATE LIMITED	Director	26/10/1999	26/10/1999	-	Amalgamated	NO
5	U19201TN2001PTC046498	CHENNAI FOOTWEAR PRIVATE LIMITED	Director	25/01/2001	25/01/2001	-	Amalgamated	NO
6	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO

Name :

Mr. Ashfaque Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

04.05.1973

Date of Appointment :

11.04.2005

DIN No.:

00013807

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	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
3	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
4	U19201TN2003PTC050177	STANFORD SHOES PRIVATE LIMITED	Director	13/01/2003	13/01/2003	-	Amalgamated	NO
5	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
6	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
7	U19200TN2008PTC067408	PAALAR SHOES PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
8	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Whole-time director	01/10/2011	01/10/2011	-	Active	NO

Name :

Mr. Imdad Ahmed

Designation :

Director

Address :

No. 6, Nawab Habibullah Avenue, Iind Cross Street, Anderson Road, Chennai – 600 006, Tamilnadu, India

Date of Birth/Age :

02.11.1977

Date of Appointment :

11.04.2005

DIN No.:

00013823

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	U18209TN1995PTC032647	EXETER SHOES PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Amalgamated	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
3	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
4	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Whole-time director	10/09/2009	10/09/2009	-	Active	NO

Name :

Mr. Iqbal Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

10.10.1969

Date of Appointment :

11.04.2005

DIN No.:

00013788

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	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Director	29/09/1987	29/09/1987	-	Active	NO
2	U19201TN1992PTC022110	RIVIERA SHOES PRIVATE LIMITED	Director	31/01/1992	31/01/1992	-	Strike off	NO
3	U18209TN1992PTC022111	FARIDA LEATHERWARE PRIVATE LIMITED	Director	31/01/1992	31/01/1992	-	Active	NO
4	U73100TN1993GAP026146	AMBUR FDDI SHOE TECHNOLOGY CENTRE	Director	03/11/1993	03/11/1993	-	Active	NO
5	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
6	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
7	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
8	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO

Name :

Mr. Irshad Ahmed Mecca

Designation :

Director

Address :

No. 27/1, Sterling Road, 1^st Cross, Nungambakkam, Chennai – 600 034, Tamilnadu, India

Date of Birth/Age :

17.08.1968

Date of Appointment :

11.04.2005

DIN No.:

00013774

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	U19201TN1992PTC022110	RIVIERA SHOES PRIVATE LIMITED	Director	31/01/1992	31/01/1992	-	Strike off	NO
2	U33209TN1999PTC043409	FARIDA NEWLINE STUDIO PRIVATE LIMITED	Director	26/10/1999	26/10/1999	-	Amalgamated	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
4	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Director	01/01/2000	01/01/2000	-	Active	NO
5	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
6	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
7	U91110TN2004PTC053638	CONSORTIUM OF SHOE MANUFACTURERS PRIVATE LIMITED	Director	05/07/2004	05/07/2004	-	Active	NO
8	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Director	12/07/2004	12/07/2004	-	Active	NO
9	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
10	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Director	07/02/2005	07/02/2005	-	Strike off	NO
11	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Director	07/02/2005	07/02/2005	-	Amalgamated	NO
12	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28/02/2005	28/02/2005	-	Amalgamated	NO
13	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
14	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
15	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21/08/2007	18/06/2007	-	Amalgamated	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2012

Names of Shareholders	No. of Shares
Mr. Rafeeque Ahmed Mecca	10
Farida Holdings Private Limited, India	6999990
Total	7,000,000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.000
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Finished Leather and Shoe Uppers for Exports and Domestic Markets.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Leather and International Branch, MVJ Towers 177 / 1, P.H. Road, Kilpauk, Chennai – 600 010, Tamilnadu, India

Facilities :

Secured Loan	As on 31.03.2012 (Rs. in Millions)	As on 31.03.2011 (Rs. in Millions)
Term Loans from Banks	43.599	53.435
Total	43.599	53.435

Banking Relations :	--
Auditors :
Name :	Mr. Akbar Rifa and Company Chartered Accountants
Address :	C8, Orchid Manor Apartments, Diwan Rama Road , Purasawalkam Chennai – 600084, Tamilnadu, India
PAN No.:	AAUFA5645D
Holding Company :	Farida Holdings Private Limited, India [CIN No.: U65993TN1985PTC011781]
Associates/Subsidiaries:	India Shoes Exports Private Limited, India [CIN No.: U19201TN1998PTC040339]

CAPITAL STRUCTURE

As on 27.09.2012

Authorized Capital:

No. of Shares	Type	Value	Amount
7000000	Equity Shares	Rs. 10/- each	Rs. 70.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
7000000	Equity Shares	Rs. 10/- each	Rs. 70.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		70.000	70.000	70.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		111.969	85.999	61.495
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		181.969	155.999	131.495
LOAN FUNDS
1] Secured Loans		43.599	53.435	177.486
2] Unsecured Loans		400.423	325.310	0.000
TOTAL BORROWING		444.022	378.745	177.486
DEFERRED TAX LIABILITIES		0.000	0.766	59.200
TOTAL		625.991	535.510	368.181
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		221.849	230.355	203.499
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		36.654	33.299	0.000
DEFERREX TAX ASSETS		1.035	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	523.354	441.809	290.579
	Sundry Debtors	133.458	129.951	151.464
	Cash & Bank Balances	2.722	5.164	4.182
	Other Current Assets	38.714	37.109	0.000
	Loans & Advances	64.951	75.626	108.810
Total Current Assets		763.199	689.659	555.035
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	303.065	329.010	265.883
	Other Current Liabilities	81.339	78.718	113.880
	Provisions	12.342	10.075	10.590
Total Current Liabilities		396.746	417.803	390.353
Net Current Assets		366.453	271.856	164.682
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		625.991	535.510	368.181

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1357.681	1261.830
		Other Income	142.961	73.323
		TOTAL	1500.642	1335.153	1271.658
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	1464.357	1300.110	1240.564
	PROFIT/(LOSS) BEFORE TAX		36.285	35.043	31.094
Less	TAX		14.139	NA	10.590
	PROFIT/(LOSS) AFTER TAX		22.146	NA	20.504
	EARNINGS IN FOREIGN CURRENCY		1145.191	NA	NA
	Earnings/(Loss) Per Share (Rs.)		3.16	--	2.91

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.47	NA	1.61
Net Profit Margin (PBT/Sales)	(%)	2.67	2.77	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.68	3.81	4.09
Return on Investment (ROI) (PBT/Networth)		0.19	0.22	0.23
Debt Equity Ratio (Total Debt/Networth)		2.44	2.42	1.35
Current Ratio (Current Asset/Current Liability)		1.92	1.65	1.42

LOCAL AGENCY FURTHER INFORMATION

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 two 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	Yes

CHARGES:

ENTITY	PERSON	COMPETENT AUTHORITY	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
Farida Prime Tannery Private Limited		CBEC	Defaulted In Payment of Customs / Excise Duties	Notice Issued Under Section 142 of Customs Act, 1962 31-May-2004

UNSECURED LOAN:

(Rs. in Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Term Loans from Banks	400.423	325.310
TOTAL	400.423	325.310

PERFORMANCE

This being the Seventh year operation, the company has made a Turnover of Rs. 1500.642 millions (including other income) when compare to the previous year turnover of Rs. 1335.153 millions. The Total expenditures is to Rs. 1464.357 millions when compare to the previous expenditure of Rs.1300.110 millions. During the current year the company has made profit before taxation of Rs. 36.285 millions.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U19201TN2005PTC055925
Name of the company	FARIDA PRIME TANNERY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	151 / 4 Mount Poonamalle Road, Ramapuram, Chennai- 600089, Tamil Nadu, India e-mail: holding@farida.co.in
This form is for	Modification of charge
Charge identification number of the modified	90325456
Type of charge	· Immovable Property · Book Debts · Movable property · Hypothecation
Particular of charge holder	State Bank of India, Leather and International Branch, MVJ Towers 177 / 1, P.H. Road, Kilpauk, Chennai – 600010, Tamil Nadu, India e-mail: dgm.07024@sbi.co.in
Nature of description of the instrument creating or modifying the charge	1) Supplemental Agreement of Loan for Increase in the overall limit (Form C.1-A) 2) Supplemental Agreement of Hypothecation of Goods and Assets for increase in the overall limit (Form C.2-A) 3) Letter regarding the grant individual limits within the overall limit (Form C.5) 4) EM Letters (4 Nos)
Date of instrument Creating the charge	26.11.2012
Amount secured by the charge	Rs. 551.300 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Per Agreement Terms of Repayment As Per Agreement Margin Raw Materials : 25% Stocks-in-Process : 25% Finished Goods : 25% Stores / Consumables : 25% LC / BG : 15% Letter of Comfort : 9.77% Extent and Operation of the charge Exclusive first charge on the current assets, movable assets and immovable properties of the company to the extent of Rs. 551.300 millions (together with interest, costs, charges and other expenses which may be debited to the appropriate account(s) from time to time)
Short particulars of the property charged	Primary Security:- EPC: Hypothecation charge over entire current assets, which include Raw Materials, Stock-in-Process, Finished Goods, Consumables, Stores, Spares, Receivables etc. FDB (LC) and FDB (Non-LC) / LC: Documents of title to goods and extension of charge over the entire current assets. BG / SBL: Extension of charge over the entire current assets. Letter of Comfort: Hypothecation charge over the entire assets acquired out of the Buyer's credit. Collateral Security:- Description of properties details given below:- 1) Leasehold rights or land belonging to Shri. M. Rasheed Ahmed measuring 3.73 acres being survey no.184/1 and 185/2, with super structures thereon owned by the company, situated at Ambur Town, Vaniyambadi Taluk, with ETP and other super structures constructed / to be constructed 2) Leasehold rights or land measuring 4.86 acres in survey nos. 318/2, 318/1, 320/1, 319, 318/1, belonging to Shri M. Rafeeque Ahmed with super structures thereon belonging to the company situated at Thuthipet village, Ambur, including building, ETP and other super structures constructed / to be constructed 3) Land measuring 2200 sq ft situated at No.51 (old No.34) Old Bamboo Bazar Road, Civil Station, in corporation division No.57 (New No.69), Bangalore and the building constructed thereon. 4) Land measuring 1 ground and 1471 sq ft situated at R S No.449/6, and the building constructed thereon at No.11 (old No.54/1), Dr. T. V. Naidu Street, Pancharadi, Chetpet, Chennai - 600 034 belonging to M/s. Farida Prime Tannery Private Limited, as above properties to secure the limit of Rs. 516.800 millions
Date of latest modification prior to the present modification	21.06.2011
Particulars of the present modification	By the present modification, The various credit facilities enjoyed by the company now has been enhanced from Rs. 442.000 millions to Rs. 551.300 millions

FIXED ASSETS:

· Furniture And Fittings

· Motor Cycle

· Computer

· Fax Machine

· Air Conditioners

· Generator

· Refrigerator

· Machinery

· Scooter

· Weighing Scale

· Tannery Building

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.04
UK Pound	1	Rs.81.80
Euro	1	Rs.71.41

INFORMATION DETAILS

Report Prepared by :

NID

SCORE & RATING EXPLANATIONS

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

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.