MIRA INFORM REPORT

Report Date :

07.01.2013

NOTE: COIMBATORE MURUGAN MILLS IS A UNIT OF NATIONAL TEXTILE CORPORATION LIMITED.

IDENTIFICATION DETAILS

Name :	NATIONAL TEXTILE CORPORATION LIMITED COIMBATORE MURUGAN MILLS – A UNIT OF NATIONAL TEXTILE CORPORATION LIMITED
Registered Office :	Scope Complex, Core IV, 7, Lodhi Road, New Delhi-110003
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.04.1968
Com. Reg. No.:	55-004866
Capital Investment / Paid-up Capital :	Rs.30621.601 Millions
CIN No.: [Company Identification No.]	U74899DL1968PLC004866
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Trading of Yarn, Fabric and Finished Goods.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (59)

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 69200000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a central public sector Enterprise under the ministry of textiles managing the affairs of sick textile undertaking in the private sector taken over by the government. It is a well established and reputed company having fine track record. Latest financial i.e. 2011-12 are missing from the government department from the available financial of 2011; it seems that there appears some accumulated losses recorded by the company. However, the company receives good financial and operational support from the government. The creditors and lenders feel confident because of the government exposure. Trade relations are fair. Business is active. Payments are reported to be regular and as per commitments. Since, the company is taken over by the government. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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	CARE
Rating	AAA [SO] Bonds VI, VII, VIII
Rating Explanation	The highest degree of safety it carry lowest credit risk.
Date	March 2008

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 :	Scope Complex, Core IV, 7, Lodhi Road, New Delhi-110003, India
Tel. No.:	91-11-24362632 / 24362616
Fax No.:	91-11-24361112
E-Mail :	cspankajntc@gmail.com
Works :	PB No. 7004, Mettupalayam Road, Coimbatore-641043, Tamilnadu, India
Regional Office :	Located at Coimbatore, Tamilnadu, India
Tel No.:	91-422-2234741

DIRECTORS

AS ON 27.09.2012

Name :

Mr. Krishna Ramachandran Pillai

Designation :

Chairman cum Managing Director

Address :

N-4, 2^nd Floor, Jangpura Extension, New Delhi-110014, India

Date of Birth/Age :

26.05.1951

Date of Appointment :

26.02.2007

Din No.:

00227784

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	L25209UP1970PLC003320	SWADESHI POLYTEX LIMITED	Nominee director	08/09/2003	08/09/2003	-	Active	NO
2	U99999MH1974GOI017823	NATIONAL TEXTILE CORPORATION (MAHARSHTRA NORTH) LIMITED	Director	13/08/2004	13/08/2004	-	Amalgamated	NO
3	U17110MH1974GOI017824	NATIONAL TEXTILE CORPORATION (SOUTH MAHARSHTRA) LIMITED	Director	13/08/2004	13/08/2004	-	Amalgamated	NO
4	U51490MH1971GOI014733	THE COTTON CORPORATION OF INDIA LIMITED	Nominee director	28/03/2005	28/03/2005	-	Active	NO
5	U17115KL1975SGC002670	SITARAM TEXTILES LTD	Director	24/11/2006	24/11/2006	13/05/2010	Active	NO
6	U18101KL1972SGC002405	KERALA STATE TEXTILE CORPORATION LIMITED	Director	29/12/2006	29/12/2006	13/05/2010	Active	NO
7	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Managing director	26/02/2007	26/02/2007	-	Active	NO
8	U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	Director	14/11/2007	12/11/2007	-	Active	NO
9	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Director	14/11/2007	12/11/2007	-	Active	NO
10	U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	Director	14/11/2007	13/11/2007	-	Active	NO
11	U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	Director	14/11/2007	13/11/2007	-	Active	NO
12	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	14/11/2007	13/11/2007	-	Active	NO
13	U17120DL2009GOI189315	ESKAY APPAREL PARKS LIMITED	Director	13/04/2009	13/04/2009	-	Active	NO
14	U17120DL2009GOI189311	JAYBHARAT APPARELS LIMITED	Director	13/04/2009	13/04/2009	-	Active	NO
15	U17120DL2009GOI189310	KSL APPARELS LIMITED	Director	13/04/2009	13/04/2009	-	Active	NO

Name :

Ms. Anita Agnihotri

Designation :

Director

Address :

Dr. No. A-7, Tower 2, 7^th Floor, New Moti Bagh, New Delhi-110022, India

Date of Birth/Age :

10.10.1956

Date of Appointment :

16.05.2012

Din No.:

02865537

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	U36912MH1978PTC020126	HINDUSTAN DIAMOND COMPANY PRIVATE LIMITED	Nominee director	30/09/2009	30/09/2009	07/03/2012	Active	NO
2	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Nominee director	16/05/2012	16/05/2012	-	Active	NO
3	L51909DL1963GOI004033	MMTC LIMITED	Nominee director	22/05/2012	22/05/2012	-	Active	NO
4	U17232WB1971GOI027958	THE JUTE CORPORATION OF INDIA LIMITED	Nominee director	29/05/2012	29/05/2012	-	Active	NO
5	L74899DL1956GOI002674	THE STATE TRADING CORPORATION OF INDIA LIMITED	Director	30/05/2012	30/05/2012	-	Active	NO
6	U74899DL1976NPL008453	INDIA TRADE PROMOTION ORGANISATION	Nominee director	18/06/2012	18/06/2012	-	Active	NO
7	U72900MH2001NPL133410	MEDIA LAB ASIA	Additional director	17/10/2012	17/10/2012	-	Active	NO

Name :

Mr. Arun Ramanathan

Designation :

Director

Address :

6A, 6^th West Cross Street, Shenoy Nagar, Chennai-600030, Tamilnadu, India

Date of Birth/Age :

25.04.1949

Date of Appointment :

16.09.2010

Din No.:

00308848

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	U93090TN1949SGC001458	TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITED	Director	22/05/2006	22/05/2006	09/07/2007	Active	NO
2	U67190DL2006GOI144520	INDIA INFRASTRUCTURE FINANCE COMPANY LIMITED	Director	18/01/2008	18/01/2008	23/06/2009	Active	NO
3	L65190GJ1994PLC021012	ICICI BANK LIMITED	Nominee director	18/01/2008	18/01/2008	27/01/2009	Active	NO
4	L65190MH2004GOI148838	IDBI BANK LIMITED	Director	21/01/2008	21/01/2008	14/05/2009	Active	NO
5	L65191TN1997PLC037415	IDFC LIMITED	Nominee director	19/02/2008	19/02/2008	20/07/2009	Active	NO
6	L27203WB1960PLC024870	INDIA FOILS LTD	Nominee director	13/01/2010	13/01/2010	30/04/2010	Amalgamated	NO
7	L17115RJ1980PLC002075	MODERN THREADS (INDIA) LIMITED	Nominee director	13/01/2010	13/01/2010	30/06/2010	Active	NO
8	L51597WB1922PLC004603	JENSON AND NICHOLSON (INDIA) LTD	Nominee director	22/02/2010	22/02/2010	18/05/2011	Active	NO
9	L27203KL1946PLC000057	ALUMINIUM INDUSTRIES LTD	Nominee director	30/04/2010	30/04/2010	16/08/2010	Active	NO
10	U40101TN2006PTC059238	CETEX ENERGY GENERARTION COMPANY PRIVATE LIMITED	Director	03/05/2010	03/05/2010	05/04/2011	Active	NO
11	U67110MH2008PLC187576	UNITED STOCK EXCHANGE OF INDIA LIMITED	Director	17/09/2010	05/05/2010	07/02/2012	Active	NO
12	U67120MH2007PLC170358	INDIAN CLEARING CORPORATION LIMITED	Director	29/04/2011	22/06/2010	-	Active	NO
13	L32109PB1976PLC003680	JCT ELECTRONICS LIMITED	Director	30/06/2010	30/06/2010	-	Active	NO
14	L63030MH1950GOI008033	SHIPPING CORPORATION OF INDIA LIMITED	Director	29/09/2010	11/08/2010	-	Active	NO
15	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Director	16/09/2010	16/09/2010	-	Active	NO
16	L74899DL1993GOI054155	OIL AND NATURAL GAS CORPORATION LIMITED	Director	30/08/2011	20/06/2011	-	Active	NO
17	U74899DL1965GOI004343	ONGC VIDESH LIMITED	Director	17/08/2012	22/09/2011	-	Active	NO
18	U65100TN2007PTC064069	EQUITAS HOLDINGS PRIVATE LIMITED	Director	11/06/2012	02/11/2011	-	Active	NO
19	U65993TN1994PTC028002	SINGHIVI INVESTMENT AND FINANCE PRIVATE LIMITED	Director	11/06/2012	17/02/2012	-	Active	NO

Name :

Mr. Ravinder Kumar Sharma

Designation :

Whole Time Director

Address :

1035, Sector A, Pocket B2C, Vasant Kunj, New Delhi-110070, India

Date of Birth/Age :

18.11.1955

Date of Appointment :

08.10.2007

Din No.:

01882634

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	L25209UP1970PLC003320	SWADESHI POLYTEX LIMITED	Director	26/02/2004	26/02/2004	Active	NO
2	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Whole-time director	08/10/2007	08/10/2007	Active	NO
3	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Director	12/11/2007	12/11/2007	Active	NO
4	U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	Director	12/11/2007	12/11/2007	Active	NO
5	U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	Director	13/11/2007	13/11/2007	Active	NO
6	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	13/11/2007	13/11/2007	Active	NO
7	U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	Director	13/11/2007	13/11/2007	Active	NO
8	U17120DL2009GOI189315	ESKAY APPAREL PARKS LIMITED	Director	13/04/2009	13/04/2009	Active	NO
9	U17120DL2009GOI189311	JAYBHARAT APPARELS LIMITED	Director	13/04/2009	13/04/2009	Active	NO
10	U17120DL2009GOI189310	KSL APPARELS LIMITED	Director	13/04/2009	13/04/2009	Active	NO

Name :

Mr. Rakesh Kumar Sinha

Designation :

Whole Time Director

Address :

Flat No. 13, Pocket V, Sector 19, Dwarka, New Delhi-110075, India

Date of Birth/Age :

20.07.1962

Date of Appointment :

06.12.2010

Din No.:

03391787

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	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Director	06/12/2010	06/12/2010	-	Active	NO
2	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	29/09/2011	31/03/2011	30/12/2011	Active	NO
3	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Director	29/09/2011	31/03/2011	30/12/2011	Active	NO
4	U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	Director	29/09/2011	31/03/2011	30/12/2011	Active	NO
5	U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	Director	29/09/2011	31/03/2011	30/12/2011	Active	NO
6	U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	Director	29/09/2011	31/03/2011	30/12/2011	Active	NO

Name :

Mr. Alokendra Banerjee

Designation :

Whole Time Director

Address :

D-86, Gulmohar Park, New Delhi-110049, India

Date of Birth/Age :

25.08.1965

Date of Appointment :

01.09.2011

Din No.:

02749748

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	U52100GJ2007PLC052325	ROSEBYS INTERIORS INDIA LIMITED	Director	31/12/2009	21/10/2009	01/07/2010	Active	NO
2	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Whole-time director	01/09/2011	01/09/2011	-	Active	NO
3	U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	Director	21/08/2012	01/07/2012	-	Active	NO
4	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	21/08/2012	01/07/2012	-	Active	NO
5	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Director	21/08/2012	01/07/2012	-	Active	NO
6	U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	Director	21/08/2012	01/07/2012	-	Active	NO
7	U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	Director	21/08/2012	01/07/2012	-	Active	NO

Name :

Mr. Sujit Gulati

Designation :

Director

Address :

D-3, Sector 30, Noida, Uttar Pradesh, India

Date of Birth/Age :

22.11.1959

Date of Appointment :

23.04.2010

Din No.:

00177274

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	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LIMITED	Nominee director	27/06/2006	27/03/2006	17/02/2007	Active	NO
2	L27201WB1967GOI028825	HINDUSTAN COPPER LTD	Director	06/06/2006	06/06/2006	18/04/2007	Active	NO
3	L23109WB1973GOI028844	COAL INDIA LTD GOVERNMENT OF INDIA UNDERTAKING	Director	06/03/2007	06/03/2007	10/09/2007	Active	NO
4	L14100GJ1963SGC001206	GUJARAT MINERAL DEVELOPMENT CORPORATION LIMITED	Director	18/04/2007	18/04/2007	19/05/2008	Active	NO
5	U72900GJ2001PLC039162	GUJ INFO PETRO LIMITED	Director	29/09/2007	27/06/2007	30/09/2011	Active	NO
6	U65990GJ1968SGC001524	GUJARAT INDUSTRIAL INVESTMENT CORPORATION LIMITED	Director	08/05/2008	08/05/2008	13/01/2010	Active	NO
7	U74999GJ1994SGC022952	ALCOCK ASHDOWN (GUJARAT) LIMITED	Director	30/05/2008	30/05/2008	07/11/2009	Active	NO
8	U24230GJ1982SGC005422	GUJARAT PORTS INFRASTRUCTURE AND DEVELOPMENT COMPANY LIMITED	Director	10/06/2008	10/06/2008	23/12/2009	Active	NO
9	U99999GJ1992PLC017798	GUJARAT CHEMICAL PORT TERMINAL COMPANY LIMITED	Nominee director	22/12/2008	18/06/2008	15/12/2009	Active	NO
10	L17110GJ1948PLC000753	DIGJAM LIMITED	Nominee director	23/06/2008	23/06/2008	29/12/2009	Active	NO
11	U91110GJ1968SGC001582	GUJARAT AGRO-INDUSTRIES CORPN LIMITED	Director	07/08/2008	07/08/2008	18/01/2010	Active	NO
12	U45209GJ2009SGC056466	GUJARAT INDUSTRIAL CORRIDOR CORPORATION LIMITED	Director	30/03/2009	30/03/2009	04/01/2010	Active	NO
13	U45208GJ2009SGC058064	GUJARAT INDUSTRIAL AREA DEVELOPMENT COMPANY LIMITED	Director	09/09/2009	09/09/2009	-	Active	NO
14	U45209GJ2009PLC058141	GUJARAT INDUSTRIAL INFRASTRUCTURE PROJECTS LIMITED	Director	17/09/2009	17/09/2009	18/12/2009	Active	NO
15	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Nominee director	23/04/2010	23/04/2010	-	Active	NO
16	U17232WB1980GOI032768	NATIONAL JUTE MANUFACTURES CORPRATION LIMITED	Nominee director	06/05/2010	06/05/2010	-	Active	NO
17	U17232WB1971GOI027958	THE JUTE CORPORATION OF INDIA LIMITED	Director	16/06/2010	16/06/2010	-	Active	NO

Name :

Mr. Prem Chandra Vaish

Designation :

Whole Time Director

Address :

Flat No. 57, Manglam Co-operative Group Housing Society Limited, Plot No. 12A, Sector 21 D, Faridabad-121001, Haryana, India

Date of Birth/Age :

15.06.1960

Date of Appointment :

05.12.2001

Din No.:

03440470

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	U40101MN2009GOI008249	LOKTAK DOWNSTREAM HYDROELECTRIC CORPORATION LIMITED	Nominee director	17/02/2011	17/02/2011	05/12/2011	Active	NO
2	U74899DL1968PLC004866	NATIONAL TEXTILE CORPN LIMITED	Whole-time director	05/12/2011	05/12/2011	-	Active	NO
3	U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	Director	21/08/2012	30/12/2011	-	Active	NO
4	U17291MH2007GOI195402	GOLDMOHUR DESIGN AND APPAREL PARK LIMITED	Director	21/08/2012	30/12/2011	-	Active	NO
5	U17291MH2007GOI195397	APOLLO DESIGN APPAREL PARKS LIMITED	Director	21/08/2012	30/12/2011	-	Active	NO
6	U17291MH2007GOI195489	INDIA UNITED TEXTILE MILL LIMITED	Director	21/08/2012	30/12/2011	-	Active	NO
7	U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	Director	21/08/2012	30/12/2011	-	Active	NO
8	L25209UP1970PLC003320	SWADESHI POLYTEX LTD	Nominee director	01/07/2012	01/07/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pankaj Agarwal
Designation :	Secretary
Address :	House No. 38, Shakti Khand IV, Indrapuram, Gaziabad-201010, Uttar Pradesh, India
Date of Birth/Age :	08.08.1965
Date of Appointment :	30.09.2008
Pan No.:

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2012

Names of Shareholders	No. of Shares
The President of India, India	30548819
Nita Agnihotri	1
Sujit Gulati	1
Madhavi Das	1
Shantha Thampi	1
Shamsher Raur	1
Sushanta S Das	1
The Governor State Government of Uttar Pradesh, India	16928
The Governor State Government of Orrisa, India	800
The Governor State Government of Shareholder of West Bengal, India	24600
The Governor State Government of Bhiar, India	2668
The Governor State Government of Karnataka, India	9450
The Governor State Government of Andhra Pradesh, India	2397
The LT Governor State Government of Puduchery, India	500
The LT Governor State Government of NCT of Delhi, India	8348
The LT Governor State Government of Rajasthan	4585
The Governor State Government of Punjab	2500
TOTAL	30621601

AS ON 27.09.2012

Equity Share Breakup	Percentage of Holding
Category
Government [Central and State]	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Yarn, Fabric and Finished Goods.

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Actual Production
Physical Production (lac/kgs.)	346.03
Cloth (lac Mtrs)	89.91
Capacity Utilization (%age)	78.28
Consumption of Energy per unit of prod. (Units./kg.)*	4.99

NOTE: *The marginal increase in per unit consumption is due to additional machinery and process in the modernized units like Auto Coners, TFO's etc. to add value to products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Punjab National Bank, Large Corporate Branch, Tolstoy House, Tolstoy Marg, New Delhi-110001, India

· Corporation Bank, BO: Industrial Finance Branch, 1604, Trichy Road, Coimbatore-641018, Tamilnadu, India

· Indian Overseas Bank, Dr. Nanjappa Road Branch, Coimbatore-641018, Tamilnadu, India [Not Confirmed]

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loans banks	44.987	1250.000
Working capital loans banks	30.211 (A)	33.641 (B)
Other debts	0.000	26.813 (C)
Interest accrued due other debt	0.000	11.234
TOTAL	75.198	1321.688
NOTE: (A) Cash Credit (B) Cash Credit (C) Documentary Bill purchase
Unsecured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loans others	2718.765 (A)	2718.774 (B)
Interest accrued due other debt	1251.094 (C)	88.271 (D)
TOTAL	3969.859	2807.045
NOTE: (A) Includes: Government of India Rs. 2700.000 Millions And State Textile Corp. Limited /State Government Rs. 18.765 Millions. (B) Includes: Government of India Rs. 2700.000 Millions And State Textile Corp. Limited/State Government Rs. 18.774 Millions. (C) Includes : Interest accrued and due on Gol loans Rs.1224.266 Millions and Interest accrued and due on Other Rs.26.828 Millions (D) Includes : Interest accrued and due on Gol loans Rs.808.499 Millions and Interest accrued and due on Other Rs.59.772 Millions

Banking Relations :	--
Auditors :
Name :	Alka and Sunil Chartered Accountants
Address :	E-176, Greater Kailash, New Delhi-110048, India
PAN No:	AAAPF2186G

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.1000/- each	Rs.50000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30621601	Equity Shares	Rs.1000/- each	Rs.30621.601 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		30621.601	30621.601	30621.601
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		36255.557	36255.545	36254.532
4] (Accumulated Losses)		(49575.068)	(62617.446)	(63648.766)
NETWORTH		17302.090	4259.700	3227.367
LOAN FUNDS
1] Secured Loans		75.198	1321.688	27.925
2] Unsecured Loans		3969.859	3587.045	8476.057
TOTAL BORROWING		4045.057	4908.733	8503.982
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		21347.147	9168.433	11731.349
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8298.887	5506.111	5542.958
Capital work-in-progress		2618.340	3915.301	570.161
INVESTMENT		181.181	181.180	181.177
DEFERREX TAX ASSETS		0.000	1894.700	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2496.550	1086.877	972.497
	Sundry Debtors	260.577	252.534	349.227
	Cash & Bank Balances	17897.935	3698.892	10136.972
	Other Current Assets	386.377	330.366	1515.337
	Loans & Advances	1544.996	2019.475	878.724
Total Current Assets		22586.435	7388.144	13852.757
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4858.286	5531.001	4631.723
	Other Current Liabilities	3129.329	2354.271	2104.133
	Provisions	4350.081	1831.731	1679.848
Total Current Liabilities		12337.696	9717.003	8415.704
Net Current Assets		10248.739	(2328.859)	5437.053
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		21347.147	9168.433	11731.349

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	6345.871	4851.265	4117.716
		Other Income	830.068	580.997	1440.281
		TOTAL (A)	7175.939	5432.262	5557.997
Less	EXPENSES
		Consumption materials changes inventories	3414.025	2541.959
		Manufacturing service costs	1489.609	1230.049	(37509.158)
		Employee related expenses	2601.094	2290.552
		Administrative selling other expenses	1710.882	445.494
		Extraordinary items	(19828.861)	(1214.925)
		Prior period items	(140.751)	(1815.973)
		TOTAL (B)	(10754.002)	3477.156	(37509.158)
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17929.941	1955.106	43067.155
Less	FINANCIAL EXPENSES (D)		524.647	579.149	1038.577
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		17405.294	1375.957	42028.578
Less/ Add	DEPRECIATION/ AMORTISATION (F)		501.658	398.236	229.132
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		16903.636	977.721	41799.446
Less	TAX (H)		3861.258	(53.600)	5.114
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		13042.378	1031.321	41794.332
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	(63648.767)	(105443.099)
	BALANCE CARRIED TO THE B/S		NA	(62617.446)	(63648.767)
	Earnings / (Loss) Per Share (Rs.)		425.92	33.68	1364.86

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	181.75	18.99	751.97
Net Profit Margin (PBT/Sales)	(%)	266.37	20.15	1015.11
Return on Total Assets (PBT/Total Assets}	(%)	54.73	7.58	215.51
Return on Investment (ROI) (PBT/Networth)		0.97	0.23	12.95
Debt Equity Ratio (Total Liability/Networth)		0.95	3.43	5.24
Current Ratio (Current Asset/Current Liability)		1.83	0.76	1.65

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	No
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	No
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U74899DL1968PLC004866
Name of the company	NATIONAL TEXTILE CORPN LIMITED
Address of the registered office or of the principal place of business in India of the company	Scope Complex, Core IV, 7, Lodhi Road, New Delhi-110003, India
Type of charge	Book Debts
Particular of charge holder	Corporation Bank, BO: Industrial Finance Branch, 1604, Trichy Road, Coimbatore-641018, Tamilnadu, India Email: cb020@corpbank.co.in
Nature of description of the instrument creating or modifying the charge	1. Common Deed of Hypothecation of Movables/Assets/Debts (I.D. 12004) 2. Agreement for Inland/Foreign Bills (I.D. 924) 3. Letter of Undertaking/Declaration from the Borrower(s) (I.D. 13001) 4. DPN (I.D. 901) 5.Take Delivery Letter to DPN(I.D.902)
Date of instrument Creating the charge	23.06.2011
Amount secured by the charge	Rs.50.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ Base Rate + 0.10% i.e. 10% p.a., compounded with monthly rests. Presently Base Rate is 9.90% p.a. Interest shall be subject to change from time to time. Terms of Repayment BELC limit of Rs. 50.000 Millions is repayable on demand. Tenor in case of usance inland bills not exceeding 120 days. In case of Foreign documentary bills - Sight bills to be paid with the normal transit period and usance bills not exceeding 120 days from the date of bill of lading. Margin As may be specified by the bank from time to time. Extent and Operation of the charge 100% in favour Corporation Bank, BO: Hassan Main, N.R. Circle, H. N. Pura Road, Hassan - 573201. Others The BELC limit of Rs.50.000 Millions is sanctioned to M/s New Minerva Mills, a unit of National Textiles Corpn Limited. for financing the specific Receivables/ export receivables.
Short particulars of the property charged	Hypothecation by way of 1st and exclusive charge on specific Receivables/export receivables of the Company, financed by the Bank. Sight bills to be paid within the normal transit period and in case of usance bills tenor shall not exceed 120 days from the date of bill of lading.

FIXED ASSETS:

· Land

· Factory Building

· Plant and Machinery

· Electrical Fittings

· Office Equipment

· Furniture and Fixtures

· Vehicles

· Computer

· Railway

· Lab Equipments

· Lives Stocks

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.54.85
UK Pound	1	Rs.88.16
Euro	1	Rs.71.54

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		59

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.