MIRA INFORM REPORT

Report Date :

07.01.2013

IDENTIFICATION DETAILS

Name :	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED (w.e.f.01.11.1995)
Formerly Known As :	LAKSHMI RING TRAVELLERS (COIMBATORE) PRIVATE LIMITED
Registered Office :	34-A, Kamaraj Road, Coimbatore – 641018, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.10.1974
Com. Reg. No.:	18-000712
Capital Investment / Paid-up Capital :	Rs. 10.200 Millions
CIN No.: [Company Identification No.]	U17111TZ1974PLC000712
TAN No.: [Tax Deduction & Collection Account No.]	CMBL03029F
PAN No.: [Permanent Account No.]	AAACL3736F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Ring Travellers and Ring Travellers Application Tools.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 1530000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of ‘ Lakshmi Group’. It is a well established company having a good track record. Financially company seems to be strong. Fundamental are healthy. Performance capacity appears to be high. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. 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.

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	Cash Credit : (CRISIL) A-
Rating Explanation	Having adequate degree of safety regarding timely servicing of financial obligations. It carry low credit risk.
Date	August 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 :	34-A, Kamaraj Road, Coimbatore – 641018, Tamilnadu, India
Tel. No.:	91-422-2223791/ 92/ 93
Fax No.:	91-422-2223790
E-Mail :	info@lrtltd.com
Website :	www.lrtltd.com
Factory :`	UNIT I Thorapalli Road, Perandapalli Post, Hosur – 635137, Tamilnadu, India UNIT II Sulur Railway Feeder Road, Kurumbapalayam, Muthugodenpudur (Post), Coimbatore – 644406, Tamilnadu, India Tel. No.: 91-422-2223791 Fax No.: 91-422-2223790 Location : Owned UNIT III Pollachi Road, Anaimalai – 642104, Pollachi, Tamilnadu, India UNIT IV Sowripalay, Coimbatore – 641028, Tamilnadu, India UNIT V-A Ooratukuppai, Kinathukadavu, Coimbatore – 641201, Tamilnadu, India UNIT V-B Anthiyur Udumalpet Tk., Coimbatore District, Tamilnadu, India UNIT V-C Somavarapatti, Udumalpet Tk., Coimbatore District, Tamilnadu, India UNIT V-D Pookulam, Udumalpet Tk., Coimbatore District, Tamilnadu, India UNIT VI S.F. No.452/ 1P, Kaniyur Village, Palladam Tk., Coimbatore District, Tamilnadu, India

DIRECTORS

AS ON 09.08.2012

Name :

Mrs. Uttara Ravi

Designation :

Managing director

Address :

89/190, Ventakasamy Road, R S Puram, Coimbatore – 641002, Tamilnadu, India

Date of Birth/Age :

15.03.1966

Qualification :

B.B.M

Experience :

24 Years

Date of Appointment :

01.04.2008

PAN No.:

AAFPU4675C

DIN No.:

00007486

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	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Managing director	01/04/2008	06/06/1988	Active	NO
2	U52599TN1991PLC021857	LAKSHMI CARGO COMPANY LIMITED	Director	13/12/1991	13/12/1991	Active	NO
3	U63040TZ1981PLC007191	STARLINE TRAVELS LIMITED	Director	14/07/1992	14/07/1992	Active	NO
4	U29191TZ1980PLC000905	MAHALAKSHMI ENGINEERING HOLDINGS LIMITED	Director	18/11/1995	18/11/1995	Active	NO
5	U27109TZ1991PLC003510	ADWAITH LAKSHMI INDUSTRIES LIMITED	Director	30/09/1998	30/09/1998	Active	NO
6	U17111TZ1956PLC000203	ADWAITH TEXTILES LIMITED	Director	18/11/1998	18/11/1998	Active	NO
7	U24222TZ1945PLC000222	TITAN PAINTS AND CHEMICALS LIMITED	Director	26/02/1999	26/02/1999	Active	NO
8	U17111TZ2000PLC009487	SUN SPINTEX INDIA LIMITED	Director	15/09/2000	15/09/2000	Amalgamated	NO
9	U55101TZ1990PLC002853	WALZER HOTELS AND RESORTS LIMITED	Director	07/02/2001	07/02/2001	Active	NO
10	U17111TZ1979PTC000894	SRI KAMAKOTI KAMAKSHI ENTERPRISES PRIVATE LIMITED	Director	23/02/2002	23/02/2002	Active	NO
11	U51909TZ2004PLC011211	VENKATAVARADHAA AGENCIES LIMITED	Director	28/06/2004	28/06/2004	Active	NO
12	U24222TZ2006PLC012639	LAKSHMI ECO RESINS INDIA LIMITED	Director	09/03/2006	09/03/2006	Strike off	NO
13	U17111TZ2006PLC013009	ADWAITH LAKSHMI KNITS AND WOVENS LIMITED	Director	18/08/2006	18/08/2006	Strike off	NO
14	U17111TZ2007PLC013789	LAKSHMI CAIPO INDUSTRIES LIMITED	Director	12/06/2007	12/06/2007	Active	NO
15	U24220TZ2008PLC014436	TITAN HMG PAINTS INDIA LIMITED	Director	30/04/2008	30/04/2008	Active	NO
16	U51397TZ1991PLC003477	ESHAAN ENTERPRISES LIMITED	Director	31/08/2012	07/11/2011	Active	NO
17	U29100TZ2012PLC018665	LAKSHMI INDUSTRIES AND AGENCIES LIMITED	Director	22/08/2012	22/08/2012	Active	NO

Name :

Mr. Mahendra Vellore Padmanaban

Designation :

Director

Address :

Lakshmi Vilas 5, Sankey Road, High Grounds, Bangalore – 560052, Karnataka, India

Date of Birth/Age :

16.07.1942

Qualification :

B.E.

Date of Appointment :

09.09.1980

DIN No.:

00033270

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	U55101KA1971PTC002122	HOTEL PEARLS PRIVATE LIMITED	Director	16/08/1980	16/08/1980	-	Active	NO
2	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Director	09/09/1980	09/09/1980	-	Active	NO
3	U70102KA1983PTC005112	PEARLS ESTATES PRIVATE LIMITED	Director	13/01/1983	13/01/1983	-	Active	NO
4	L65921TN1983PLC010029	GOVE INVESTMENT & FINANCE COMPANY LIMITED	Director	22/09/1983	22/09/1983	-	Active	NO
5	L34101KA1967PLC001706	VST TILLERS TRACTORS LIMITED	Managing director	20/02/2009	20/02/1984	-	Active	NO
6	U65993TN1985PTC011607	V P MAHENDRA BROTHERS INVESTMENTS PRIVATE LIMITED	Director	26/02/1985	26/02/1985	-	Active	NO
7	L65993TN1978PLC007576	CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	Director	16/10/1994	16/10/1994	28/07/2011	Active	NO
8	U50101TN2004PTC054176	V.S.T. & SONS PRIVATE LIMITED	Director	08/09/2004	08/09/2004	-	Active	NO
9	U50101TN2005PTC055926	V.S.T.AUTO PARTS PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
10	U26999TN1949PLC003210	V.S.T.MOTORS LIMITED	Director	10/11/2005	10/11/2005	-	Active	NO
11	L85110KA1946PLC000415	KIRLOSKAR ELECTRIC COMPANY LIMITED	Director	30/08/2007	25/06/2007	-	Active	NO
12	U34107KA2007PTC043432	MHI-VST DIESEL ENGINES PRIVATE LIMITED	Director	31/07/2008	11/02/2008	-	Active	NO

Name :

Mr. Ravi Sam

Designation :

Director

Address :

89/190, Ventakasamy Road, R S Puram, Coimbatore – 641002, Tamilnadu, India

Date of Birth/Age :

31.03.1956

Qualification :

B. Com

Date of Appointment :

26.05.2004

DIN No.:

00007465

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	U17111TZ1956PLC000203	ADWAITH TEXTILES LIMITED	Managing director	19/05/2012	12/06/1974	-	Active	NO
2	U24222TZ1945PLC000222	TITAN PAINTS AND CHEMICALS LIMITED	Director	29/01/1987	29/01/1987	-	Active	NO
3	L17111TZ1981PLC001109	SUPER SALES INDIA LIMITED	Director	30/06/1989	30/06/1989	-	Active	NO
4	U51397TZ1991PLC003477	ESHAAN ENTERPRISES LIMITED	Director	23/10/1991	23/10/1991	-	Active	NO
5	U27109TZ1991PLC003510	ADWAITH LAKSHMI INDUSTRIES LIMITED	Managing director	01/04/2010	18/11/1991	-	Active	NO
6	U27310TZ1992PLC003812	INTEGRATED ELECTRICAL CONTROLS INDIA LIMITED	Nominee director	29/04/1993	29/04/1993	-	Active	NO
7	U01119TN1977PLC070246	MURUGAPPA HOLDINGS LIMITED	Director	27/08/1997	27/08/1997	09/02/2012	Active	NO
8	U17301TZ2001PLC009933	ADWAITH LAKSHMI CONSTRUCTIONS LIMITED	Director	18/10/2001	18/10/2001	-	Under Process of Striking off	NO
9	U17111TZ1979PTC000894	SRI KAMAKOTI KAMAKSHI ENTERPRISES PRIVATE LIMITED	Director	23/01/2002	23/01/2002	-	Active	NO
10	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
11	U24222TZ2006PLC012639	LAKSHMI ECO RESINS INDIA LIMITED	Director	09/03/2006	09/03/2006	-	Strike off	NO
12	U28112TZ2006PLC012935	SHRI KARA ENGINEERING LIMITED	Director	17/07/2006	17/07/2006	-	Active	NO
13	U17111TZ2006PLC013009	ADWAITH LAKSHMI KNITS AND WOVENS LIMITED	Director	18/08/2006	18/08/2006	-	Strike off	NO
14	U17111TZ2007PLC013789	LAKSHMI CAIPO INDUSTRIES LIMITED	Director	12/06/2007	12/06/2007	-	Active	NO
15	U24220TZ2008PLC014436	TITAN HMG PAINTS INDIA LIMITED	Director	30/04/2008	30/04/2008	-	Active	NO
16	U01132TN2011PLC079800	PARRY AGRO INDUSTRIES LIMITED	Director	27/07/2012	03/03/2012	-	Active	NO

Name :

Reddigari Chinna Hanumantha Reddy

Designation :

Director

Address :

Flat No. A4/2, 45 Park Avenue Race Course, Coimbatore – 641018, Tamilnadu, India

Date of Birth/Age :

01.06.1935

Qualification :

B. Sc

Date of Appointment :

30.07.2010

DIN No.:

00006184

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	U17219TZ1960PTC000343	LAKSHMI CARD CLOTHING MFG. COMPANY PRIVATE LIMITED	Director	26/06/1996	26/06/1996	Active	NO
2	U28939TZ1966PLC000559	LAKSHMI PRECISION TOOLS LIMITED	Director	23/09/1999	23/09/1999	Active	NO
3	U17111TZ2003PLC010786	HARSHNI TEXTILES LIMITED	Director	08/03/2004	08/03/2004	Active	NO
4	U31200TZ1983PLC001258	LAKSHMI ELECTRICAL DRIVES LIMITED	Director	03/11/2004	03/11/2004	Active	NO
5	L29269TZ1973PLC000680	LAKSHMI AUTOMATIC LOOM WORKS LIMITED	Director	22/04/2005	22/04/2005	Active	NO
6	L01542TZ1985PLC001706	RAJSHREE SUGARS & CHEMICALS LIMITED	Director	30/12/2005	30/12/2005	Active	NO
7	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Director	30/07/2010	31/07/2009	Active	NO

Name :

Mr. Sanjay Jayavarthanavelu

Designation :

Director

Address :

“Shell House”, 695 Avanashi Road, Coimbatore – 641037, Tamilnadu, India

Date of Birth/Age :

15.06.1968

Qualification :

MBA

Date of Appointment :

19.06.1992

DIN No.:

00004505

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	L31200TZ1981PLC001124	LAKSHMI ELECTRICAL CONTROL SYSTEMS LIMITED	Director	21/06/1989	21/06/1989	-	Active	NO
2	L17111TZ1981PLC001109	SUPER SALES INDIA LIMITED	Director	26/11/1989	26/11/1989	-	Active	NO
3	U17111TZ1968PLC000583	LAKSHMI TECHNOLOGY AND ENGINEERING INDUSTRIES LIMITED	Director	13/05/1992	13/05/1992	-	Active	NO
4	U28939TZ1966PLC000559	LAKSHMI PRECISION TOOLS LIMITED	Director	19/06/1992	19/06/1992	21/07/2008	Active	NO
5	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Director	19/06/1992	19/06/1992	-	Active	NO
6	L29269TZ1962PLC000463	LAKSHMI MACHINE WORKS LIMITED	Managing director	01/06/2012	24/02/1993	-	Active	NO
7	U55101TZ1990PLC002853	WALZER HOTELS AND RESORTS LIMITED	Director	10/03/1993	10/03/1993	28/07/2007	Active	NO
8	U52599TN1991PLC021857	LAKSHMI CARGO COMPANY LIMITED	Director	03/03/2004	03/03/2004	-	Active	NO
9	L85110TN1989PLC017232	FORTIS MALAR HOSPITALS LIMITED	Director	29/09/2008	31/07/2008	-	Active	NO
10	U80302TZ2009PLC015650	HERMES ACADEMY OF TRAINING LIMITED	Director	02/12/2009	02/12/2009	02/09/2011	Active	NO
11	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Director	30/07/2010	27/01/2010	-	Active	NO
12	L17111TZ1910PLC000093	THE LAKSHMI MILLS COMPANY LIMITED	Director	22/09/2010	30/07/2010	-	Active	NO
13	U29199TZ1993PLC004443	LMW MACHINERY LIMITED	Nominee director	25/07/2011	02/11/2010	17/08/2011	Active	NO
14	U29199TZ2009PLC015340	QUATTRO ENGINEERING INDIA LIMITED	Director	22/08/2012	20/02/2012	-	Active	NO
15	U73100TZ2009PLC015463	LAKSHMI LIFE SCIENCES LIMITED	Director	22/08/2012	20/02/2012	-	Active	NO
16	U55101TN2005PTC055586	ALAMPARA HOTELS AND RESORTS PRIVATE LIMITED	Director	26/09/2012	16/08/2012	-	Active	NO

Name :

Tara Sam

Designation :

Director

Address :

89/190, Ventakasamy Road, R S Puram, Coimbatore – 641002, Tamilnadu, India

Date of Birth/Age :

29.11.1987

Qualification :

B Engg., M sc.

Date of Appointment :

03.12.2012

DIN No.:

00412005

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	U27109TZ1991PLC003510	ADWAITH LAKSHMI INDUSTRIES LIMITED	Director	03/07/2006	03/07/2006	Active	NO
2	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Whole-time director	03/12/2012	31/07/2009	Active	NO

Name :

Mr. Venkataraman Sundaresa Iyer

Designation :

Director

Address :

SF2 Block 1, Shobhanam Parsn Complex, Nanjundapuram Road, Coimbatore – 641036, Tamilnadu, India

Date of Birth/Age :

13.11.1948

Qualification :

B Tech

Date of Appointment :

09.08.2012

DIN No.:

02538050

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	L29269TZ1973PLC000680	LAKSHMI AUTOMATIC LOOM WORKS LIMITED	Director	11/06/2009	11/06/2009	30/05/2011	Active	NO
2	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Director	09/08/2012	25/01/2012	-	Active	NO
3	L17111TZ1981PLC001109	SUPER SALES INDIA LIMITED	Additional director	29/10/2012	29/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Kandaswamy Chettiar Mohanakumaraswamy
Designation :	Secretary
Address :	141 Third Cross Street, Bharathi Colony, Peelamedu, Coimbatore – 641002, Tamilnadu, India
Date of Birth/Age :	16.04.1956
Date of Appointment :	30.04.1990
PAN No.:	AFNPM5926K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 09.08.2012

Names of Shareholders	No. of Shares
D. Thayarammal	56000
J. Rajyalakshmi	72000
J. Raghupathy	2000
A.H. Tobaccowala	2000
Voltas Limited, India	120000
V.P. Mahendra	8000
Sanjay Jayavarthanavelu	100
R. Venkatrangappan	2000
Sathpurushan Veluswamy	2000
Uttara Ravi	539500
R. Lalitha Raman	400
S. Ranjitham	350
R. Kamalam	300
M. Subbulakshmi	350
Mahalakshmi Engineering and Holding Limited, India	120000
Tara Sam	26700
Ravi Sam	100
S. Chandrasekar	400
Arun Selvaraj	700
Titan Paints and Chemicals Limited, India	27000
C.H. Reddy	100
Geetha Shankar	10000
Arya Sam	30000
Total	1020000

AS ON 09.08.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	26.18
Directors or relatives of directors	71.81
Other top fifty shareholders	2.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Ring Travellers and Ring Travellers Application Tools.

Products :

ITC Code	Product Descriptions
52051300	Yarn and Fabrics
73259900	Steel Casting
84483300	Ring Travellers and Application Tools

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Indian Bank, 31, Variety Hall Road, Coimbatore – 641001, Tamilnadu, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term loans from banks	64.010	61.392
Working capital loans from banks (Cash Credit against Stock and Books Debts)	196.329	192.361
Total	260.339	253.753
Note: (A) 1.Ring Traveller, Engineering and Foundry Divisions Hosur, Annaimalai, Coimbatore. Cash Credit against Stock and Books Debts Rs.105.000 Millions Sanctioned on 15.03.2012 repayable on demand Secured by exlusive charge on the Current Assets of the Ring Traveller, Engineering and Foundry Divisions -Rs.111.540 Millions and 2. Spinning Division-Coimbatore Cash Credit against Stock and Books Debts Rs.150.000 Millions Sanctioned on 15.03.2012 repayable on demand Secured by exclusive charge on the Current Assets of the Spinning Division.-Rs.84.789 Millions. The above loan is additionally secured by an extension of charge on the fixed assets of Unit I Floating Interest @13.00% P.A. payable monthly.
Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Unsecured Borrowings	67.416	5.227
Deposits	2.890	2.905
Total	70.306	8.132

Banking Relations :	--
Auditors :
Name :	N.R. Doraiswami and Company Chartered Accountants
Address :	51, Race Course, Coimbatore-641018, Tamilnadu, India
Income-tax PAN of auditor or auditor's firm :	AABFN5721A
Associates :	Ø Adwaith Lakshmi Industries Limited [U27109TZ1991PLC003510] Ø Adwaith Textiles limited [U17111TZ1956PLC000203] Ø Lakshmi Caipo Industries Limited [U17111TZ2007PLC013789] Ø Lakshmi Technology And Engineering Industries Limited [U17111TZ1968PLC000583] Ø LMW Machinery Limited [U29199TZ1993PLC004443] Ø Lakshmi Cargo Company Limited [U52599TN1991PLC021857] Ø Lakshmi Electrical Control Systems Limited [L31200TZ1981PLC001124] Ø Lakshmi Machine Works Limited [L29269TZ1962PLC000463] Ø Lakshmi Precision Tools Limited [U28939TZ1966PLC000559] Ø Mahalakshmi Engineering Holdings Limited [U29191TZ1980PLC000905] Ø Shri Kara Engineering Limited [U28112TZ2006PLC012935] Ø Starline Travels Limited [U63040TZ1981PLC007191] Ø Super Sales India Limited [L17111TZ1981PLC001109] Ø Titan Hmg Paints India Limited [U24220TZ2008PLC014436] Ø Titan Paints And Chemicals Limited [U24222TZ1945PLC000222] Ø Venkatavaradhaa Agencies Limited [U51909TZ2004PLC011211]

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,020,000	Equity Shares	Rs. 10/- each	Rs. 10.200 Millions

Number of equity shares at the beginning of the year	1,320,000
Add; Right Issue	--
Add: Bonus Issue	--
Less: Reduction of Share Capital (25.01.2012)	300,000
Number of equity shares at the end of the year	1,020,000

Number of shares held by share holders holding more than 5% of total shares

Name of the share holder	Number of shares
D. Thayarammal	56,000
J. Rajyalakshmi	72,000
Voltas Limited, India	120,000
Mahalakshmi Engg Holdings Limited, India	120,000
Uttara Ravi	539,500
Rieter Holding AG, Switzerland	--

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		10.200	13.200	13.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		373.284	573.979	502.044
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		383.484	587.179	515.244
LOAN FUNDS
1] Secured Loans		260.339	253.753	320.830
2] Unsecured Loans		70.306	8.132	11.987
TOTAL BORROWING		330.645	261.885	332.817
DEFERRED TAX LIABILITIES		76.106	94.265	103.881
TOTAL		790.235	943.329	951.942
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		486.404	524.996	615.535
Capital work-in-progress		49.686	0.610	0.262
INVESTMENT		33.846	33.846	33.846
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	249.490	372.140	207.070
	Sundry Debtors	241.350	200.517	195.070
	Cash & Bank Balances	2.788	6.885	8.108
	Other Current Assets	33.834	25.543	0.000
	Loans & Advances	18.532	15.711	32.927
Total Current Assets		545.994	620.796	443.175
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	102.838	86.526	46.842
	Other Current Liabilities	208.997	129.638	69.151
	Provisions	13.860	20.755	26.361
Total Current Liabilities		325.695	236.919	142.354
Net Current Assets		220.299	383.877	300.821
MISCELLANEOUS EXPENSES		0.000	0.000	1.478
TOTAL		790.235	943.329	951.942

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	1258.584	1151.620	1020.455
		Other Income	30.733	11.499	24.482
		TOTAL	1289.317	1163.119	1044.937
Less	EXPENSES
		Cost of materials consumed	482.127	398.758
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	5.936	(41.197)
		Employee benefit expense	127.244	103.262
		Other Expense	427.206	480.348
		TOTAL	1042.513	941.171	804.516
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		246.804	221.948	240.421
Less	FINANCIAL EXPENSES		40.279	26.174	29.880
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		206.525	195.774	210.541
Less/ Add	DEPRECIATION/ AMORTISATION		65.812	67.563	64.950
	EXCEPTIONAL ITEMS		(6.902)	0.000	0.000
	EXTRAORDINARY ITEMS		1.598	(0.230)	0.000
	PROFIT BEFORE TAX		135.409	127.981	145.591
Less	TAX		35.397	39.170	57.239
	PROFIT AFTER TAX		100.012	88.811	88.352
Less	APPROPRIATIONS
		Transfer to General Reserve	11.000	14.000	N.A.
		Proposed Dividend	11.220	14.520
		Tax on Dividend	1.820	2.356
	BALANCE CARRIED TO THE B/S		75.972	57.935	N.A.
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	164.853	113.304	275.261
	IMPORTS
		Raw Materials	66.789	80.831	69.195
		Stores & Spares	6.953	2.593	3.638
		Cotton	0.000	0.000	2.467
		Capital Goods	0.000	0.564	0.000
	TOTAL IMPORTS		73.742	83.988	75.300
	Earnings Per Share (Rs.)		79.06	67.28	66.93

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	7.76	7.64	8.46
Net Profit Margin (PBT/Sales)	(%)	10.76	11.11	14.27
Return on Total Assets (PBT/Total Assets}	(%)	13.12	11.17	13.75
Return on Investment (ROI) (PBT/Networth)		0.35	0.22	0.28
Debt Equity Ratio (Total Liability/Networth)		1.71	0.85	0.92
Current Ratio (Current Asset/Current Liability)		1.68	2.62	3.11

LOCAL AGENCY FURTHER INFORMATION

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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U17111TZ1974PLC000712
Name of the company	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED
Address of the registered office or of the principal place of business in India of the company	34-A, Kamaraj Road, Coimbatore – 641018, Tamilnadu, India Email: info@lrtltd.com
This form is for	Modification of charge
Charge identification number of the modified	10292436
Type of charge	Immovable property
Particular of charge holder	Indian Bank, 31, Variety Hall Road, Coimbatore – 641001, Tamilnadu, India Email: cbemain@indianbank.co.in
Nature of description of the instrument creating or modifying the charge	Letter from Party to Bank confirming extension of equitable Mortgage
Date of instrument Creating the charge	20.04.2012
Amount secured by the charge	Rs. 87.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per the original Agreement. Terms of Repayment As per the original Agreement. Margin As per the original Agreement. Extent and Operation of the charge Equitable mortgage on the land situated at Coimbatore Registration District, Annur sub Registration District, Palladam Taluk, Moppiripalayam Village with a total extent of 4.98 1/2 acres of the company operates as additional security for further advances made or to be made or facilities granted or to be granted by the bank up to a maximum of Rs.87.500 Millions.
Short particulars of the property charged	Land situated in Coimbatore Registration District, Annur Sub Registration District, Palladam Taluk, Moppiripalayam Village in SF No.680 - 0.40 acres, SF no. 681/ 1-0.95 acres, SF No.681/2-2.4 1/2 acres SF No.681/3-0.07 acres, SF No.681/4 - 1.09 acres to the total extent of 4.98 1/2 acres
Date of Modification	30.03.2012
Particulars of the present modification	Equitable mortgage on the land situated at Coimbatore Registration District, Annur sub Registration District, Palladam Taluk, Moppiripalayam Village with a total extent of 4.98 1/2 acres of the company operates as additional security for further advances made or to be made or facilities granted or to be granted by the bank up to a maximum of Rs.87.500 Millions.

FIXED ASSETS:

Ø Land

Ø Building

Ø Plant and Machinery

Ø Electrical Equipments

Ø Computer Equipments

Ø Furniture and Office Equipments

Ø Laboratory Equipments

Ø Dies and Instruments

Ø Material Handling Equipments

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

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		51

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.