MIRA INFORM REPORT

Report Date :

23.07.2013

IDENTIFICATION DETAILS

Name :	MOTILAL DULICHAND PRIVATE LIMITED
Registered Office :	20, Industrial Estate, Kanpur – 208012, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.05.1989
Com. Reg. No.:	20-010734
Capital Investment / Paid-up Capital :	Rs. 9.861 Millions
CIN No.: [Company Identification No.]	U24231UP1989PTC010734
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Narrow Fabrics.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 190000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered 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. Pramod
Designation :	Vice President of Marketing
Contact No.:	91-9971170061
Date :	13.07.2013

LOCATIONS

Registered Office / Factory :	20, Industrial Estate, Kanpur – 208012, Utter Pradesh, India
Tel. No.:	91-512-2295177 / 2295174
	91-9971170061 (Mr. Pramod)
Fax No.:	91-512-2295734
E-Mail :	huzoor@mldcgroup.com accounts@mldcgroup.com vpm@mldcgroup.com
Website :	http://mldcgroup.com
Sales Office 1:	F -124, Sector 8, District Gautam Budh Nagar, Noida- 201301, Uttar Pradesh, India
Tel. No.:	91-120-4077777
Fax No.:	91-120-4077780
E-Mail :	mldcnoida@mldcgroup.com
Regional Office:	City Exhibition Center, F-9, Spencer Plaza, 1^st Floor, 769 Annasalai, Chennai- 600002, Tamilnadu, India
Tel. No.:	91-44-8524532 / 8524536
Fax No.:	91-44-8522148
E-Mail :	mldcch@yahoo.com

DIRECTORS

As on 29.09.2012

Name :

Mr. Subodh Prahladka

Designation :

Whole Time Director

Address :

20 Industrial Estate Kanpur - 208012, Uttar Pradesh, India

Date of Birth/Age :

20.03.1957

Date of Appointment :

01.04.2003

DIN No.:

00531386

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	U17111UP1995PTC018258	SPECIALITY YARN PRODUCTS PRIVATE LIMITED	Director	16-06-95	16-06-95	-	Strike off	NO
2	U91110UP1932NPL000467	MERCHANT CHAMBER OF UTTAR PRADESH	Director	06-10-09	15-10-98	29-09-10	Active	NO
3	U25201UP1996PTC020772	INJECTOPLAST PRIVATE LIMITED	Director	12-06-00	12-06-00	16-03-11	Active	NO
4	U24231UP1989PTC010734	MOTILAL DULI CHAND PRIVATE LIMITED	Director	01-04-03	01-04-03	-	Active	NO
5	L32109UP1984PLC006600	QUICK ELCTRONICS AND ENGINEERING COMPANY LIMITED	Director	29-09-09	14-06-08	-	Active	NO
6	L45101UP1987PLC008799	NARAIN PROPERTIES LIMITED	Director	30-09-09	14-06-08	-	Active	NO
7	U65921UP1986PLC007712	HARI KRISHAN PROPERTIES LIMITED	Director	30-09-09	17-06-08	-	Active	NO

Name :

Mr. Sunil Prahladka

Designation :

Whole Time Director

Address :

20 Industrial Estate Kanpur-208012, Uttar Pradesh, India

Date of Birth/Age :

17.09.1959

Date of Appointment :

08.05.1989

DIN No.:

00531274

KEY EXECUTIVES

Name :	Mr. Pramod
Designation :	Vice President of Marketing

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
B M Prahladka (B. HUF)	80000
B M Prahladka (IND)	10250
Subodh Prahladka	1500
Sunil Prahladka	83300
Pramod Prahladka	26900
Savitri Prahladka	50000
Nccra Prahladka	105000
Archana Prahladka	28000
Mridula Prahladka	83837
Mriganka Prahladka	7000
Vanshika Prahladka	25500
Vrinda Prahladka	9500
Master Dhananjay Prahladka	155500
Master Suryansh Prahladka	1000
Jamuna Lohia	2362
MLDC Combines Limited	198625
Kanpur Texel (Private) Limited	116400
Sunil Prahladka (HUF)	1000
Mridula Prahladka Family Trust	450
Total	986124

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	31.95
Directors or relatives of Directors	68.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Narrow Fabrics.

Products :

· Multi Coloured Cords

· Multipurpose Ropes

· Stretchable Elastics

· Designer Tapes

· Webbing and Straps

· Stylish Belts

· Insole and Satin Ribbons

· Multi Coloured Threads

· Printed Lanyards

Product Description	Item Code
Twines Cords and Ropes	56075000
Narrow Woven Fabrics	58063200
Shoe Laces	56090000

Exports :

Products :

Narrow Fabrics

Countries :

· European and Countries

· American

Imports :

Products :

Raw Material

Countries :

· Taiwan

· China

· Malaysia

Terms :

Selling :

L/C / Cash / Credit (30 Days)

Purchasing :

L/C / Cash / Credit (30 Days)

GENERAL INFORMATION

Customers :

Retailers

No. of Employees :

200 (Approximately)

Bankers :

Canara Bank, Darshan Purwa Branch, Kanpur - 208012, Uttar Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long Term Borrowing
(A) TERM LOAN :
i) From Canara Bank : (Secured against land and building, hypothecation of Machinery and personal guarantee of all Directors)	13.074	17.673
ii) From ICICI Limited.: (Secured against hypothecation of land and personal guarantee of all Directors)	9.595	12.273
iii) From HDFC Limited : (Secured against hypothecation of Car and personal guarantee of all Directors)	0.837	1.131
iv) From Kotak Mahindra Premus Limited (Secured against hypothecation of Car and personal guarantee of all Directors)	0.384	0.000
v) From Tata Motors : (Secured against hypothecation of Car and personal guarantee of all Directors)	0.000	0.052
(B) CASH CREDIT LOANS :
i) CC Limit from Canara Bank : (Secured against land and building, hypothecation of stock of Raw Material , Finished Goods, Book Debts and persona! guarantee of all Directors)	19.872	23.683
ii) FDB Limit from Canara Bank : (Secured against export bills and personal guarantee of all Directors)	2.283	0.000
Total	46.045	54.812

Banking Relations :	---
Financial Institutions :	ICICI Home Finance Company Limited, ICICI Bank Towers, Bandra-Kurla Complex, Mumbai - 400051, Maharashtra, India
Auditors :
Name :	Sudhindra Jain and Company Chartered Accountants
Address :	113/223, Swaroop Nagar, Kanpur - 208002, Uttar Pradesh, India
Tel. No.:	91-022-2532110/2531195
PAN No.:	AACFS7403B

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
986124	Equity Shares	Rs.10/- each	Rs. 9.861 millions

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	9.861	9.861
(b) Reserves & Surplus	39.302	35.879
(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)	49.163	45.740
(3) Non-Current Liabilities
(a) long-term borrowings	63.075	77.466
(b) Deferred tax liabilities (Net)	2.537	2.395
(c) Other long term liabilities	0.160	0.004
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	65.772	79.865
(4) Current Liabilities
(a) Short term borrowings	0.000	0.500
(b) Trade payables	4.628	5.181
(c) Other current liabilities	4.551	0.436
(d) Short-term provisions	4.517	3.368
Total Current Liabilities (4)	13.696	9.485
TOTAL	128.631	135.090
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	83.643	86.397
(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	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.397	0.792
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	84.040	87.189
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	12.245	23.340
(c) Trade receivables	21.352	16.756
(d) Cash and cash equivalents	0.402	0.447
(e) Short-term loans and advances	10.145	6.873
(f) Other current assets	0.447	0.485
Total Current Assets	44.591	47.901
TOTAL	128.631	135.090

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		9.861
2] Share Application Money		0.000
3] Reserves & Surplus		33.996
4] (Accumulated Losses)		0.000
NETWORTH		43.857
LOAN FUNDS
1] Secured Loans		64.564
2] Unsecured Loans		12.516
TOTAL BORROWING		77.080
DEFERRED TAX LIABILITIES		2.358
TOTAL		123.295
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		89.142
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	17.603
	Sundry Debtors	16.969
	Cash & Bank Balances	0.478
	Other Current Assets	0.000
	Loans & Advances	6.803
Total Current Assets		41.853
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.859
	Other Current Liabilities	3.308
	Provisions	0.533
Total Current Liabilities		7.700
Net Current Assets		34.153
MISCELLANEOUS EXPENSES		0.000
TOTAL		123.295

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	142.403	124.402	116.560
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA	NA
		Advertising Expenses
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		16.581	15.502	19.649
Less	FINANCIAL EXPENSES (D)		6.835	7.715	9.436
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.746	7.787	10.213
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.617	5.175	4.589
	PROFIT BEFORE TAX (E-F) (G)		5.129	2.612	5.624
Less	TAX (H)		1.707	0.729	0.369
	PROFIT AFTER TAX (G-H) (I)		3.422	1.883	5.255
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.059	0.076	0.139
Add	TAXES PAID FOR EARLIER YEARS		0.000	0.000	(0.018)
Less	APPROPRIATIONS
		Transfer to General Reserve	3.000	1.900	5.300
	BALANCE CARRIED TO THE B/S		0.481	0.059	0.076
	Earnings Per Share (Rs.)		3.47	1.90	5.33

Particulars	31.03.2013
Sales Turnover (Approximately)	160.000

Expected Sales (2013-14) : More than Rs.200.000 Millions

The above information has been parted by Mr. Pramod

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PBT/Sales)	(%)	2.40	1.51	4.82
Return on Total Assets (PBT/Total Assets}	(%)	3.99	1.93	4.56
Return on Investment (ROI) (PBT/Networth)		0.10	0.06	0.12
Debt Equity Ratio (Total Debt /Networth)		1.28	1.70	1.76
Current Ratio (Current Asset/Current Liability)		3.26	5.05	5.43

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
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	No

OVERVIEW:

General:

This was a good year for the company, as assured in the last year's director's report, export increased by 193% and overall increase in sales was to the extent of 14.47%. Due to cost control measures and power savings by increase in energy efficiency, the profits of the company increased substantially. However economic growth in India in the past few months has not been good which will affect their company too. They are however hopeful of atleast maintaining level of operations in the coming year.

CONTINGENT LIABILITIES:

Rs. In Millions

Particular	31.03.2012	31.03.2011
In respect of Guarantee given by bank	1.067	0.252

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Long Term Borrowing
Loans and advances from related parties	0.000	22.654
Short Term Borrowing
Loans repayable on demand From other parties	0.000	0.500
Total	0.000	23.154

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U24231UP1989PTC010734
Name of the company	MOTILAL DULI CHAND PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	20 Industrial Estate, Kanpur – 208012, Uttar Pradesh, India huzoor@mldcgroup.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80031484
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Others (hypothecation of all the p and m and other fixed asset)
Particular of charge holder	Canara Bank, Darshanpurwa, Kanpur - 208012, Uttar Pradesh, India. cb1673@canarabank.com
Nature of instrument creating charge	Supplemental common hypothecation agreement dated 17.09.2012
Date of instrument Creating the charge	17.09.2012
Amount secured by the charge	Rs.53.334 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Mentioned In Sanction Letter And Applicable From Time To Time Terms of Repayment All The Terms and Conditions of The Common Hypothecation Agreement Dated 23.01.01 Except Those Terms Subsequently Varied/ Modified By Supplemental Agreement Date.19.04.2006, 08.05.2007, 28.09.2007, 02.06.2008, 18.07.2009, 14.09.2010, 19.01.2012 and 17.09.2012 Margin 25% on OCC limit, term loan, ILC/FLC and bank guarantee and 30% on ODBD Extent and Operation of the charge Supplemental common hypothecation agreement as security for repayment of the aggregate limit of Rs. 53.334 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Land and Building Situated At 20, Industrial Estate, Kanpur Land and Building Situated At 12B, Dada Nagar, Kanpur Land and Building Situated At F-124, Sector-8, Noida All Plant and Machineries Installed At Location (I) and (Ii) above All The Book Debts of The Company All The Stock of Raw Material, Goods In Process and Finished Goods of the company
Date of instrument modifying the charge	19.01.2012
Particulars of the present modification	The charge last modified on 19.01.2012 is modified due to change in amount of various advance facilities availed by the company so as to increase in total credit facility from Rs. 45.144 Millions to Rs. 53.334 Millions.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

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.59.41
UK Pound	1	Rs.90.74
Euro	1	Rs.78.11

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	YES
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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

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.