1. Summary Information

		Country	India
Company Name	COATINGS SPECIALITIES (INDIA) LIMITED	Principal Name 1	Mr. Jalraj Ashwin Dani
Status	Good	Principal Name 2	Mr. Ina Ashwin Dani
		Registration #	11-20745
Street Address	3A, Barodawala Mansion, 1^st FL81, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India.
Established Date	04.11.1978	SIC Code	--
Telephone#	91-22-24938687	Business Style 1	Investment In Shares and in Securities
Fax #	91-22-24974886	Business Style 2	-
Homepage	www.coatingspl.com	Product Name 1	-
# of employees	20 (Approximately)	Product Name 2	-
Paid up capital	Rs. 500,000/-	Product Name 3	-
Shareholders	Bodies corporate – 99.60% Directors or relatives of Directors – 0.40%	Banking	Kotak Mahindra Bank Limited
Public Limited Corp.	NO	Business Period	35 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (55)
Related Company
Relation	Country	Company Name	CEO
Associates	INDIA	Gujarat Organics Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	152,987,000	Current Liabilities	69,976,000
Inventories	64,954,000	Long-term Liabilities	63,912,000
Fixed Assets	27,082,000	Other Liabilities	17,866,000
Deferred Assets	4,321,000	Total Liabilities	151,754,000
Invest& other Assets	51,831,000	Retained Earnings	148,921,000
		Net Worth	149,421,000
Total Assets	301,175,000	Total Liab. & Equity	301,175,000
Total Assets (Previous Year)	299,352,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	399,429,000	Net Profit	8,692,000
Sales(Previous yr)	328,228,000	Net Profit(Prev.yr)	3,364,000

MIRA INFORM REPORT

Report Date :

11.07.2013

IDENTIFICATION DETAILS

Name :	COATINGS SPECIALITIES (INDIA) LIMITED
Registered Office :	3A, Barodawala Mansion, 1^st FL81, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra.
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.11.1978
Com. Reg. No.:	11-20745
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U65990MH1978PLC020745
TAN No.: [Tax Deduction & Collection Account No.]	MUMR14817F
PAN No.: [Permanent Account No.]	AACCC2732N
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Investment in Shares and in Securities
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (55)

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

Maximum Credit Limit :	USD 597000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having a fine track record. Financial Position of the company appears to be sound. Trade relations are reported as trustworthy. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Vaibhav
Designation :	Administrator
Contact No.:	91-22-40016500
Date :	06.07.2013

LOCATIONS

Registered Office :	3A, Barodawala Mansion, 1^st FL81, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India
Tel. No.:	91-22-24938687
Fax No.:	91-22-24974886
E-Mail :	admin@danienterprises.co.in
Website :	http://www.coatingspl.com
Location :	Owned
Corporate Office :	C-130, Solaris 1, Opposite L and T Gate No. 6, Saki Vihar Road, Powai, Mumbai – 400 072, Maharashtra, India
Tel. No.:	91-22-40016500 / 56936517
Fax No.:	91-22-66936522
E-Mail :	admin@coatingspl.info

DIRECTORS

As on : 14.09.2012

Name :

Mr. Jalaj Ashwin Dani

Designation :

Chairman

Address :

Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

20.10.1969

Date of Appointment :

01.06.1993

Voter ID No.:

MT/04/024/20412

DIN No.:

00019080

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	U73100MH1983PTC031318	S C DANI RESEARCH FOUNDATION PRIVATE LIMITED	Director	01-06-93	01-06-93	-	Active	NO
2	U65990MH1981PTC025949	DANI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	01-06-93	01-06-93	-	Amalgamated	NO
3	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	01-06-93	01-06-93	-	Active	NO
4	U65990MH1980PTC023336	DANI TRADING AND INVESTMENTS Private LIMITED	Director	01-06-93	01-06-93	-	Amalgamated	NO
5	L99999MH1984PLC085950	DANI FINLEASE LIMITED	Director	25-01-94	25-01-94	-	Active	NO
6	U65921DL1984PLC019402	DANI FINLEASE LIMITED	Director	25-01-94	25-01-94	-	Not Available for eFiling	NO
7	U65990MH1981PTC025831	DANI CAPITAL AND INVESTMENTS COMPANY PRIVATE LIMITED	Director	24-08-95	24-08-95	-	Amalgamated	NO
8	L99999GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Director	30-01-99	30-01-99	-	Active	NO
9	U65991MH1994PTC078880	JM FINANCIAL TRUSTEE COMPANY PRIVATE LIMITED	Director	19-09-01	19-09-01	-	Active	NO
10	U15136KA1996PTC021007	MTR FOODS Private LIMITED	Director	03-09-03	03-09-03	03-04-07	Active	NO
11	L28992MH1991PLC168235	HITECH PLAST LIMITED	Director	12-09-04	12-09-04	-	Active	NO
12	U74140MH1997NPL111167	YOUNG PRESIDENTS ORGANIZATION (MUMBAI CHAPTER)	Director	01-07-06	01-07-06	01-07-10	Active	NO
13	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	19-09-08	20-08-07	-	Active	NO
14	U45400MH2007PLC175925	MAXBHUMI DEVELOPERS LIMITED	Director	22-02-08	29-01-08	-	Active	NO
15	U65923MH2010PTC201679	VIJAL HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	05-04-10	05-04-10	-	Active	NO
16	U65921MH2010PTC207201	HAISH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	27-02-12	05-02-11	-	Active	NO
17	U65191MH2012PTC230704	SMITI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	18-06-12	18-06-12	-	Active	NO
18	U24110MH1979PLC031289	PRAGATI CHEMICALS LIMITED	Additional director	26-07-12	26-07-12	-	Active	NO
19	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Additional director	15-03-13	15-03-13	-	Active	NO
20	U51900MH2013PTC243068	HYDRA TRADING PRIVATE LIMITED	Director	07-05-13	07-05-13	-	Active	NO
21	AAA-1197	PARJANYA COMMERCIALS LLP	Designated Partner	10-08-10	10-08-10	-	Active	NO
22	AAB-1547	CRONUS MERCHANDISE LLP	Designated Partner	08-10-12	08-10-12	-	Active	NO

Name :

Mr. Ina Ashwin Dani

Designation :

Director

Address :

Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

19.03.1942

Date of Appointment :

31.03.1998

Voter ID No.:

MT/01/024/204121

DIN No.:

00053695

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	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	22-02-79	22-02-79	-	Active	NO
2	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	12-11-79	12-11-79	25-03-13	Active	NO
3	U67120MH1979PTC021907	DANI ENTERPRISES PRIVATE LIMITED	Director	17-11-79	17-11-79	-	Amalgamated	NO
4	U65990MH1988PTC050154	RANGMEET INVESTMENTS Private LIMITED	Director	23-12-88	23-12-88	-	Amalgamated	NO
5	U65922MH1988PTC050152	OMEGA PROPERTIES PRIVATE LIMITED	Director	28-12-88	28-12-88	-	Active	NO
6	U65990MH1978PTC020746	DANI SECURITIES Private LIMITED	Director	09-05-92	09-05-92	-	Amalgamated	NO
7	U67120MH1985PTC035633	HIREN HOLDINGS PRIVATE LIMITED	Director	01-10-93	01-10-93	-	Active	NO
8	U67120MH1983PTC029562	PRAGATI MARKETING PRIVATE LIMITED	Director	02-04-96	02-04-96	-	Strike off	NO
9	U65990MH1981PTC025949	DANI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	31-03-98	31-03-98	-	Amalgamated	NO
10	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	31-03-98	31-03-98	-	Active	NO
11	U65990MH1980PTC023336	DANI TRADING AND INVESTMENTS Private LIMITED	Director	31-03-98	31-03-98	-	Amalgamated	NO
12	L99999MH1984PLC085950	DANI FINLEASE LIMITED	Director	25-06-98	25-06-98	-	Active	NO
13	U65921DL1984PLC019402	DANI FINLEASE LIMITED	Director	25-06-98	25-06-98	-	Not Available for eFiling	NO
14	U24200TN2008PTC067561	Suryakant Paint Accessories Private Limited	Director	21-07-09	08-05-08	-	Active	NO
15	L28992MH1991PLC168235	HITECH PLAST LIMITED	Director	04-09-10	30-01-10	-	Active	NO
16	L24220MH1945PLC004598	ASIAN PAINTS LIMITED	Director	24-06-11	27-07-10	-	Active	NO
17	U65923MH2011PTC214070	Isis Holding and Trading Company Private Limited	Managing director	28-02-13	26-02-11	-	Active	NO
18	U65191MH2012PTC230704	SMITI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	08-05-12	08-05-12	25-06-12	Active	NO
19	U65923MH2012PTC230703	RAYIRTH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	08-05-12	08-05-12	-	Active	NO
20	U80904MH2012PTC235386	ISIS SKILLS DEVELOPMENT PRIVATE LIMITED	Director	06-09-12	06-09-12	-	Active	NO
21	U51101MH2013PTC242927	CANES VENATICI TRADING PRIVATE LIMITED	Director	04-05-13	04-05-13	-	Active	NO
22	U65900MH2013PTC245053	RITUH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	01-07-13	01-07-13	-	Active	NO
23	AAB-2395	NARADIYA COMMERCIAL LLP	Designated Partner	03-12-12	03-12-12	-	Active	NO

Name :

Mr. Amrish B Parikh

Designation :

Director

Address :

5 Shrusti – IV Near Parimal Hospital Taluka LG Corner Maninagar, Ahmedabad – 380008, Gujarat, India

Date of Birth/Age :

18.01.1940

Date of Appointment :

29.06.1995

DIN No.:

00101289

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	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	29-06-95	29-06-95	-	Active	NO
2	L99999GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Director	24-09-09	06-04-09	-	Active	NO

Name :

Mr. Malav Ashwin Dani

Designation :

Whole Time Director

Address :

Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

26.11.1975

Date of Appointment :

12.07.2012

Voter ID No.:

MT/04/024/204120

DIN No.:

01184336

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	L28992MH1991PLC168235	HITECH PLAST LIMITED	Managing director	05-08-11	30-01-07	-	Active	NO
2	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	12-07-12	05-02-07	-	Active	NO
3	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	19-09-08	20-08-07	-	Active	NO
4	U66000MH2008PLC181725	RANGUDYAN INSURANCE BROKING SERVICES LIMITED	Director	29-04-08	29-04-08	-	Active	NO
5	U24200TN2008PTC067561	Suryakant Paint Accessories Private Limited	Director	30-04-08	30-04-08	-	Active	NO
6	U65923MH2011PTC214070	Isis Holding and Trading Company Private Limited	Director	13-02-13	26-02-11	-	Active	NO
7	U25202MH1986PLC038626	CLEAR MIPAK PACKAGING SOLUTIONS LIMITED	Director	11-08-12	04-02-12	-	Active	NO
8	U80904MH2012PTC235386	ISIS SKILLS DEVELOPMENT PRIVATE LIMITED	Director	06-09-12	06-09-12	-	Active	NO
9	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Additional director	15-03-13	15-03-13	-	Active	NO
10	U51101MH2013PTC242927	CANES VENATICI TRADING PRIVATE LIMITED	Director	04-05-13	04-05-13	-	Active	NO
11	AAB-2395	NARADIYA COMMERCIAL LLP	Designated Partner	03-12-12	03-12-12	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 14.09.2012

Names of Shareholders	No. of Shares
Geetanjali Trading and Investments Private Limited, Mumbai	49700
Ashwin S Dani	50
Ina A Dani	50
Jalaj A Dani	50
Malav A Dani	50
Dusara Parsottam Bhupendra	50
Jatin R Shah	50
Total	50000

Equity Share Break up (Percentage of Total Equity)

As on : 14.09.2012

Category	Percentage
Bodies corporate	99.60
Directors or relatives of Directors	0.40
Total	100.00

BUSINESS DETAILS

Line of Business :

Investment in Shares and in Securities.

GENERAL INFORMATION

No. of Employees :

20 (Approximatelty)

Bankers :

Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D Nariman Point, Mumbai – 400 021, Maharashtra, India

Facilities :

(Rs in Millions)

SECURED LOANS	31.03.2012	31.03.2011
Cash Credit from Kotak Mahindra Bank
Indian rupee loan from Banks	21.903	58.693
Foreign currency loan from Banks - Buyers Credit	15.464	0.000
Total	37.367	58.693

Note :

1. Working capital loans are secured by hypothecation of all present and future raw materials, Finished goods, Book debts, existing and future Current Assets and moveable and present Immovable fixed assets

2. Overdraft (CC ) in current account carried interest rate @ 14.75% which has reduced to 12.8% p. a by 31.03.12.

3. Foreign currency loan carries Interest @ UBOR plus 0.45% p.a. repayable on their respective due dates within next 12 months.

4. Accrued interest due to Holding company.

5. Default in terms of repayment of principal and interest – NIL.

Auditors :
Name :	Deepak Shah and Company Chartered Accountants
Address :	401, Maker Bhavan – 3, 21, Marine Lines, Mumbai – 400 020, Maharashtra, India
Tel. No.:	91-22-66332641
Fax No.:	91-22-22090595
PAN No :	AAGPS7958D
E-Mail :	dnshah@mtnl.net.in
Associates :	Dani Finlease Limited  Clear Mipak Packaging Solutions Limited Gujarat Organics Limited       S C Dani Research Foundation Private Limited Hitech Plast Limited         Clear Plastics Limited       Mipak Polymers Limited Berger Paints (Emirates) Limited Hiren Holdings Private Limited Omega Properties Private Limited  Sunprasad Investments and Trading Company Private Limited
Subsidiaries :	Rangudyan Insurance Broking Private Limited
Holding Company :	Geetanjali Trading and Investments Private Limited
Other Related Party :	· Express Resorts and Hotels Limited · Ho Plast Limited

CAPITAL STRUCTURE

As on : 14.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- Each	Rs.0.500 Million
450000	Preference Shares	Rs.10/- each	Rs.4.500 Millions
	Total		Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- Each	Rs.0.500 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500
(b) Reserves & Surplus	148.921	143.672
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	149.421	144.172
(3) Non-Current Liabilities
(a) long-term borrowings	25.100	23.600
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	25.100	23.600
(4) Current Liabilities
(a) Short term borrowings	38.812	59.126
(b) Trade payables	37.284	31.174
(c) Other current liabilities	32.692	33.065
(d) Short-term provisions	17.866	8.215
Total Current Liabilities (4)	126.654	131.580
TOTAL	301.175	299.352
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	27.082	29.302
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	51.831	54.473
(c) Deferred tax assets (net)	4.321	1.152
(d) Long-term Loan and Advances	32.315	26.486
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	115.549	111.413
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	64.954	77.338
(c) Trade receivables	105.555	89.603
(d) Cash and cash equivalents	4.719	2.467
(e) Short-term loans and advances	10.148	17.041
(f) Other current assets	0.250	1.490
Total Current Assets	185.626	187.939
TOTAL	301.175	299.352

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		0.000
3] Reserves & Surplus		141.153
4] (Accumulated Losses)		0.000
NETWORTH		141.653
LOAN FUNDS
1] Secured Loans		16.212
2] Unsecured Loans		6.310
TOTAL BORROWING		22.522
DEFERRED TAX LIABILITIES		0.166
TOTAL		164.341
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		29.631
Capital work-in-progress		0.000
INVESTMENT		55.263
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	34.165
	Sundry Debtors	47.143
	Cash & Bank Balances	1.896
	Other Current Assets	9.479
	Loans & Advances	28.137
Total Current Assets		120.820
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.938
	Other Current Liabilities	2.933
	Provisions	26.503
Total Current Liabilities		41.373
Net Current Assets		79.447
MISCELLANEOUS EXPENSES		0.000
TOTAL		164.341

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	399.429	328.228	187.844
		Other Income	5.997	3.539	15.491
		Commission Received	0.000	0.000	23.565
		TOTAL (A)	405.426	331.767	226.900
Less	EXPENSES
		Cost of Materials Consumed	295.071	243.026	153.331
		Changes in Inventories of Finished Goods	4.336	(4.336)	0.000
		Employees Benefits Expenses	53.241	45.206	26.649
		Administration and selling expenses	0.000	0.000	20.411
		Other expenses	32.111	35.057	0.000
		TOTAL (B)	384.759	318.953	200.391
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		20.667	12.814	26.509
Less	FINANCIAL EXPENSES (D)		10.807	5.990	1.263
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.860	6.824	25.246
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.731	1.799	1.363
	PROFIT BEFORE TAX (E-F) (G)		8.129	5.025	23.883
Less	TAX (H)		(0.563)	1.661	8.017
	PROFIT AFTER TAX (G-H) (I)		8.692	3.364	15.866
Add	Prior year adjustments (Net)		0.000	0.000	0.157
Add	Excess /(short) provision for taxes		0.000	0.000	(0.023)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		73.413	71.059	59.819
Less	APPROPRIATIONS
		Transfer to General Reserve	0.869	0.336	1.586
		Transfer to Special Reserve	1.738	0.673	3.172
		Provision for Diminution	2.641	0.000	0.000
	BALANCE CARRIED TO THE B/S		76.857	73.414	71.061
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	29.204	0.000	0.000
		Commission Earnings	0.000	26.991	23.565
	TOTAL EARNINGS		29.204	26.991	23.565
	IMPORTS
		Raw Materials	NA	1.501	0.000
		Traded Goods	NA	162.990	125.030
	TOTAL IMPORTS		NA	164.491	125.030
	Earnings Per Share (Rs.)		173.83	67.27	317.28

Particulars	31.03.2013
Sales Turnover (Approximately)	400.000

Expected Sales ( 2013-2014 ) : Rs. 500.000 Millions

The above information has been parted by Mr. Vaibhav (Administrator)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.14	1.01	6.99
Net Profit Margin (PBT/Sales)	(%)	2.04	1.53	12.71
Return on Total Assets (PBT/Total Assets}	(%)	3.32	2.06	15.87
Return on Investment (ROI) (PBT/Networth)		0.05	0.03	0.17
Debt Equity Ratio (Total Debt /Networth)		0.43	0.57	0.16
Current Ratio (Current Asset/Current Liability)		1.72	1.63	2.92

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	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	Yes
34]	External Agency Rating, if available	No

UNSECURED LOANS :

(Rs in Millions)

PARTICULARS	31.03.2012	31.03.2011
LONG TERM BORROWINGS
Loans and advances from related parties :
Corporate Bodies	25.100	23.600
SHORT TERM BORROWINGS
Loans and advances from related parties :
Corporate Bodies	1.445	0.433
Total	26.545	24.033

Note :

1. Includes Interest free Loan from Holding company amount to Rs. 15.100 Millions

2. Includes Loan with interest from Holding company of Rs. 10.000 Millions @ 11.25 %.

3. Default in terms of repayment of principal and interest Rs. NIL

BUSINESS REVIEW :

OPERATIONS :

During the year, Net revenue has increased to Rs. 405.426 Millions from Rs. 331.767 Millions previous year, registering a growth of 22% as compared to previous year. The performance is the result of the initiative taken by the company in developing market for new product lines jointly with customers and suppliers. The Directors are glad to report that they are confident of maintaining this accelerated growth in trading division during the current year.

The profits before tax of the company for the year has improved to Rs. 8.128 Millions compared to previous year Rs. 5.025 Millions registering growth of 62%

The company has taken steps to adopt best practices to improve operation effectiveness by implementing ERP of Tata Consultancy Services Limited. The company has also started implementing CRM to improve sales efficiency and productivity.

OPPORTUNITIES, THREATS AND FUTURE OUTLOOK :

The year ahead appears challenging with the volatility in the market, increased and new competition, rupee depreciation volatile foreign exchange, high interest rates and inflation. The company is geared to meet the challenges. The company will adopt appropriate strategies to understand the needs of the customers and align the offering vis-a-vis products, product mix, services levels, quality and delivery.

SUBSIDIARY COMPANIES :

The Company's subsidiary, Rangudyan Insurance Broking Services Limited has shown good performance and manage business operation to maintained break-even during the year 2011- 2012 and reported a loss of Rs. 0.611acs. The Company collected nearly Rs. 43.200 Millions of premium during the year under review. This is viewed satisfactory given the experience the Company has in service industry.

FIXED ASSETS:

• Office Premise
• Furniture and Fixtures
• Motor Car
• Electrical Installation
• Office Equipment
• Fax Machine
• Xerox Copier
• Computer
• Air Conditioner
• EPABX and Telephone
• Plant and Machinery
• Laboratory Equipment

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. 60.13
UK Pound	1	Rs. 89.52
Euro	1	Rs. 76.89

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		55

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.