MIRA INFORM REPORT

Report Date :

25.07.2013

IDENTIFICATION DETAILS

Name :	FOWLER WESTRUP (INDIA) PRIVATE LIMITED (w.e.f. 30.05.2002)
Formerly Known As :	FOWLER WESTRUP (INDIA) LIMITED
Registered Office :	Raj Mahal Building, 4^th Floor, 84, Veer Nariman Road, Mumbai – 400 024, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.01.2000
Com. Reg. No.:	11-123855
Capital Investment / Paid-up Capital :	Rs.74.500 Millions
CIN No.: [Company Identification No.]	U74999MH2000PTC123855
TAN No.: [Tax Deduction & Collection Account No.]	BLRF00404F
PAN No.: [Permanent Account No.]	AAACF5164H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Post Harvest Agricultural Processing Machinery and Transformer Oil Conditioning Machinery.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1807000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a joint venture between John Fowler (India) Private Limited and Westrup A/S, Denmark for manufacturing post harvest agricultural processing machines and oil filtration systems. It is an established company having moderate track record. The latest financials as on 2012 are not available with us. As per the previous, the company has seen a slight dip in its net profitability. Capital structure appears to be decent. Trade relations are fair. Business is active. Payment terms are unknown in view of absence of latest financials. The company can be considered for business dealings with some caution.

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 DECLINED BY

Name :	Mr. Ramesh
Designation :	Sales Executive
Contact No.:	91-9619274989
Date :	24.07.2013

LOCATIONS

Registered Office :	Raj Mahal Building, 4^th Floor, 84, Veer Nariman Road, Mumbai – 400 024, Maharashtra, India
Tel. No.:	91-22-27832992/ 27832995
Mobile No.:	91-9619274989 (Mr. Ramesh Pasate)
Fax No.:	91-22-25916456/ 27831594
E-Mail :	lakshmanan@fowlerwetrup.com jagati@fowlerwestrup.com fwl@fowlerwestrup.com fwl@vsnl.in
Website :	www.fowlerwestrup.com
Location :	Owned
Corporate Office/ Factory 1 :	Plot No.249/250, 3^rd Phase, Bommasandra Industrial Area, Bangalore – 560 099, Karnataka, India
Tel. No.:	91-80-27832992/ 27831594/ 27834440/ 27834441
Fax No.:	91-80-27831594
E-Mail :	fwl@fowlerwestrup.com
Factory 2 :	Plot No.60-63, KIADB Industrial Area, Malur, Kolar District – 563 130, Karnataka, India
Tel. No.:	91-8152-282500
Fax No.:	91-8152-282555
Regional Office :	Located at: · New Delhi · Kolkata · Mumbai · Coimbatore · Hyderabad

DIRECTORS

AS ON 17.07.2012

Name :	Mr. Badrinarayan Ramulal Barwale
Designation :	Director
Address :	72-B, Urvashi Prtit Estate, Nepean Sea Road, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	13.08.1931
Date of Appointment :	27.01.2000
DIN No.:	00001479

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	U01100MH1970PLC014600	MAHARASHTRA HYBRID SEEDS COMPANY LIMITED	Director	04/05/1970	04/05/1970	-	Active	NO
2	U01110MH1972PLC015630	JALNA SEEDS PROCESSING AND REFRIGERATION COMPANY LIMITED	Director	23/12/1978	23/12/1978	-	Active	NO
3	U99999MH1958PTC011014	AMRITLAL CHEMAUX PRIVATE LIMITED	Director	25/08/1982	25/08/1982	-	Active	NO
4	U24110MH1984PTC034809	MARATHAWADA REALTORS PRIVATE LIMITED	Director	14/12/1984	14/12/1984	14/11/2007	Active	NO
5	L99999MH1982PLC026903	SHRENUJ AND COMPANY LIMITED	Director	17/09/1987	17/09/1987	-	Active	NO
6	U73100MH1987GAP042298	BARWALE FOUNDATION	Director	21/10/1987	21/10/1987	-	Active	NO
7	U65990MH1990PTC055398	ALMET HEALTHCARE PRIVATE LIMITED	Director	12/02/1990	12/02/1990	-	Active	NO
8	U67120MH1990PTC055473	HARIRANI INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
9	U67120MH1990PTC055474	HARBHAJAN INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
10	U65990MH1990PTC055475	DUDHNA INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
11	U65990MH1990PTC055470	RAJUR GANAPATI INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
12	U67120MH1990PTC055592	JOHN FOWLER OCULAR LENSES PRIVATE LIMITED	Director	28/02/1990	28/02/1990	-	Active	NO
13	U73200MH1986NPL041521	CENTRE FOR ADVANCEMENT OF PHILANTHROPY.	Director	08/12/1990	08/12/1990	18/09/2009	Active	NO
14	U29100MH1953PTC009189	JOHN FOWLER (INDIA) PRIVATE LIMITED	Director	25/03/1991	25/03/1991	-	Active	NO
15	U70101MH1939PTC002945	SOMAIYA PROPERTIES AND INVESTMENTS PRIVATE LIMITED	Director	04/08/1993	04/08/1993	24/04/2009	Active	NO
16	U85100MH1995PTC094853	JOHN FOWLER OPHTHALMICS PRIVATE LIMITED	Director	29/11/1995	29/11/1995	14/11/2007	Active	NO
17	U65990MH1996PLC099431	GANGABISHAN BHIKULAL INVESTMENT AND TRADING LIMITED	Director	10/05/1996	10/05/1996	-	Active	NO
18	U73100MH1997PLC111505	MAHYCO MONSANTO BIOTECH (INDIA) LIMITED	Director	23/10/1997	23/10/1997	-	Active	NO
19	U29219MH1998PTC115973	DICKINSON FOWLER PRIVATE LIMITED	Director	27/07/1998	27/07/1998	-	Active	NO
20	U01120MH1999PLC122855	MAHYCO VEGETABLE SEEDS LIMITED	Director	01/12/1999	01/12/1999	-	Amalgamated	NO
21	U74999MH2000PTC123855	FOWLER WESTRUP (INDIA) PRIVATE LIMITED	Director	27/01/2000	27/01/2000	-	Active	NO
22	U91990MH2001NPL133451	MAHARAJA AGRESEN FOUNDATION	Director	24/09/2001	24/09/2001	-	Active	NO
23	U40107MH1995PLC084203	MAHYCO SEEDS LIMITED	Director	20/08/2002	20/08/2002	-	Amalgamated	NO
24	U74999MH1991PLC061969	SUNGRO SEEDS LIMITED	Director	28/10/2005	28/10/2005	-	Active	NO
25	U67120MH2006PTC159783	BARWALE INVESTMENT AND TRADING PRIVATE LIMITED	Director	16/02/2006	16/02/2006	-	Amalgamated	NO
26	U65990MH1990PTC055515	MARATHAWADA ENGINEERS PRIVATE LIMITED	Director	30/09/2008	28/04/2008	-	Active	NO
27	U73100MH2009PTC191681	NANOPHORE LIFE SCIENCES PRIVATE LIMITED	Director	15/04/2009	15/04/2009	13/09/2012	Strike off	NO
28	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Director	12/08/2009	24/04/2009	-	Active	NO

Name :	Mr. Rajendra Badrinarayan Barwale
Designation :	Director
Address :	72-B, Urvashi Prtit Estate, Nepean Sea Road, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	12.12.1955
Date of Appointment :	05.02.2001
DIN No.:	00001678

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	U01110MH1978PTC020708	BARWALE SEEDS PRIVATE LIMITED	Director	19/10/1978	19/10/1978	-	Active	NO
2	U01110MH1972PLC015630	JALNA SEEDS PROCESSING AND REFRIGERATION COMPANY LIMITED	Director	23/12/1978	23/12/1978	-	Active	NO
3	U24110MH1984PTC034809	MARATHAWADA REALTORS PRIVATE LIMITED	Director	26/02/1985	26/02/1985	14/11/2007	Active	NO
4	U73100MH1987GAP042298	BARWALE FOUNDATION	Director	21/10/1987	21/10/1987	-	Active	NO
5	U29290MH1960PLC059367	ALMET CORPORATION LIMITED	Director	14/09/1989	14/09/1989	14/11/2007	Active	NO
6	U65990MH1990PTC055402	NEEMUCH INVESTMENT AND TRADING PRIVATE LIMITED	Director	12/02/1990	12/02/1990	-	Active	NO
7	U65990MH1990PTC055398	ALMET HEALTHCARE PRIVATE LIMITED	Director	12/02/1990	12/02/1990	-	Active	NO
8	U65990MH1990PTC055468	JAMWADI INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
9	U67120MH1990PTC055473	HARIRANI INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
10	U65990MH1990PTC055467	AKSHNISHIT INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
11	U67120MH1990PTC055474	HARBHAJAN INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
12	U65990MH1990PTC055475	DUDHNA INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
13	U65990MH1990PTC055470	RAJUR GANAPATI INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
14	U67120MH1990PTC055472	NIDHONA INVESTMENT AND TRADING PRIVATE LIMITED	Director	15/02/1990	15/02/1990	-	Active	NO
15	U65990MH1990PTC055515	MARATHAWADA ENGINEERS PRIVATE LIMITED	Director	20/02/1990	20/02/1990	-	Active	NO
16	U67120MH1990PTC055591	CHITTODA INVESTMENT AND TRADING PRIVATE LIMITED	Director	28/02/1990	28/02/1990	-	Active	NO
17	U67120MH1990PTC055592	JOHN FOWLER OCULAR LENSES PRIVATE LIMITED	Director	28/02/1990	28/02/1990	-	Active	NO
18	U29100MH1953PTC009189	JOHN FOWLER (INDIA) PRIVATE LIMITED	Director	25/03/1991	25/03/1991	-	Active	NO
19	U31503KA1987PTC008336	R.B.ASSOCIATES PRIVATE LIMITED	Director	16/03/1993	16/03/1993	-	Active	NO
20	U85100MH1995PTC094853	JOHN FOWLER OPHTHALMICS PRIVATE LIMITED	Director	29/11/1995	29/11/1995	14/11/2007	Active	NO
21	U65990MH1996PLC099431	GANGABISHAN BHIKULAL INVESTMENT AND TRADING LIMITED	Director	10/05/1996	10/05/1996	-	Active	NO
22	U74899DL1991PLC044605	SUNGRO SEED EXPORTS LIMITED	Director	29/07/1996	29/07/1996	-	Amalgamated	NO
23	U01135JK1973PLC000388	SUNGRO SEEDS RESEARCH LIMITED	Director	29/07/1996	29/07/1996	-	Amalgamated	NO
24	U73100MH1997PLC111505	MAHYCO MONSANTO BIOTECH (INDIA) LIMITED	Director	23/10/1997	23/10/1997	-	Active	NO
25	U29219MH1998PTC115973	DICKINSON FOWLER PRIVATE LIMITED	Director	27/07/1998	27/07/1998	-	Active	NO
26	U01120MH1999PLC122855	MAHYCO VEGETABLE SEEDS LIMITED	Director	01/12/1999	01/12/1999	-	Amalgamated	NO
27	U74999MH1972PLC015791	SEED TRADE ASSOCIATION OF MAHARASHTRA LIMITED	Director	22/11/2000	22/11/2000	-	Strike off	NO
28	U74999MH2000PTC123855	FOWLER WESTRUP (INDIA) PRIVATE LIMITED	Director	05/02/2001	05/02/2001	-	Active	NO
29	U01110MH1992NPL066942	ASSOCIATION OF SEED INDUSTRY	Director	09/10/2001	09/10/2001	-	Active	NO
30	U40107MH1995PLC084203	MAHYCO SEEDS LIMITED	Managing director	07/03/2008	07/03/2003	-	Amalgamated	NO
31	U01100MH1970PLC014600	MAHARASHTRA HYBRID SEEDS COMPANY LIMITED	Managing director	18/08/2008	18/08/2003	-	Active	NO
32	U73100DL1990PLC041486	BIOTECH CONSORTIUM INDIA LIMITED	Director	24/11/2003	24/11/2003	-	Active	NO
33	U30007KA1998PTC024374	S.R. NOVA PRIVATE LIMITED	Director	24/06/2004	24/06/2004	-	Active	NO
34	U91990MH2005NPL153954	INDIAN FOUNDATION SEED AND SERVICES ASSOCIATION	Director	14/06/2005	14/06/2005	-	Active	NO
35	U74999MH1991PLC061969	SUNGRO SEEDS LIMITED	Director	28/10/2005	28/10/2005	-	Active	NO
36	U67120MH2006PTC159783	BARWALE INVESTMENT AND TRADING PRIVATE LIMITED	Director	16/02/2006	16/02/2006	-	Amalgamated	NO
37	U72200KA2001PTC069316	TECHSET COMPOSITION INDIA PRIVATE LIMITED	Director	27/09/2007	29/08/2007	-	Active	NO
38	U73100MH2009PTC191681	NANOPHORE LIFE SCIENCES PRIVATE LIMITED	Director	15/04/2009	15/04/2009	-	Strike off	NO
39	U15100MH2004PLC148387	TUNIP AGRO LIMITED	Director	24/12/2010	25/10/2010	-	Active	NO
40	U80302PN2001PLC135348	MAHARASHTRA KNOWLEDGE CORPORATION LIMITED	Director appointed in casual vacancy	15/01/2011	15/01/2011	-	Active	NO

Name :	Mr. Ramkrishan Jalan
Designation :	Director
Address :	56, Rajmahal Vilas Extension, 1^st Block, 4^th Cross, Bangalore – 560 094, Karnataka, India
Date of Birth/Age :	30.07.1943
Date of Appointment :	05.02.2001
DIN No.:	00012430

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	U29100MH1953PTC009189	JOHN FOWLER (INDIA) PRIVATE LIMITED	Director	31/07/1991	31/07/1991	-	Active	NO
2	U31503KA1987PTC008336	R.B.ASSOCIATES PRIVATE LIMITED	Director	16/03/1993	16/03/1993	-	Active	NO
3	U99999KA1995PTC018634	TRINCAS INDIA PRIVATE LIMITED	Director	05/03/1996	05/03/1996	-	Strike off	NO
4	U29219MH1998PTC115973	DICKINSON FOWLER PRIVATE LIMITED	Director	11/12/1998	11/12/1998	-	Active	NO
5	U74999MH2000PTC123855	FOWLER WESTRUP (INDIA) PRIVATE LIMITED	Director	05/02/2001	05/02/2001	-	Active	NO
6	U30007KA1998PTC024374	S.R. NOVA PRIVATE LIMITED	Managing director	04/03/2002	04/03/2002	-	Active	NO
7	U51103KA1989PTC010176	S R NOVA COMMERCIAL PRIVATE LIMITED	Director	29/07/2006	29/07/2006	-	Active	NO
8	U72200KA2001PTC069316	TECHSET COMPOSITION INDIA PRIVATE LIMITED	Director	27/09/2007	29/08/2007	-	Active	NO

Name :	Mr. Vijaykumar Balakrishna Kilar
Designation :	Managing Director
Address :	F-602, Red Wood, Raheja Residency, 3^rd Block, Koramangala, Bangalore – 560 034, Karnataka, India
Date of Birth/Age :	01.12.1952
Qualification :	BE (Chem. Engg)
Date of Appointment :	01.09.2003
DIN No.:	00394346

Name :	Mr. Arun Balbhadra Goyal
Designation :	Alternate Director
Address :	334, Jennifer Lane, Rosells, IL, 60172, United States of America
Date of Birth/Age :	04.05.1945
Date of Appointment :	01.08.2001
DIN No.:	01381528

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	U29100MH1953PTC009189	JOHN FOWLER (INDIA) PRIVATE LIMITED	Director	31/07/1991	31/07/1991	-	Active	NO
2	U74999MH2000PTC123855	FOWLER WESTRUP (INDIA) PRIVATE LIMITED	Alternate director	01/08/2001	01/08/2001	-	Active	NO

Name :	Mr. Peter Thorn
Designation :	Director
Address :	Atterbakkevej 18, Dysted Holnegaard, 4684, Denmark
Date of Birth/Age :	29.09.1966
Date of Appointment :	12.12.2008
DIN No.:	02539405

Name :	Mr. Arun Kannan Thiagarajan
Designation :	Director
Address :	Grace Home, 37, Kanakpura Road, Basavanagudi, Bangalore – 560 034, Karnataka, India
Date of Birth/Age :	17.09.1944
Date of Appointment :	19.12.2007
DIN No.:	00292757

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	U72200KA1976PLC027564	ADITYA BIRLA MINACS IT SERVICES LIMITED	Director	02/04/2002	02/04/2002	-	Amalgamated	NO
2	U72200KA2000PLC027405	WEP PERIPHERALS LIMITED	Director	22/01/2003	22/01/2003	10/08/2007	Active	NO
3	L85110KA1930PLC000124	ING VYSYA BANK LIMITED	Director	30/01/2003	30/01/2003	-	Active	NO
4	L32209KA1988PLC009313	ADC INDIA COMMUNICATIONS LIMITED	Director	20/10/2003	20/10/2003	07/08/2011	Active	NO
5	U72200MH2004PTC179939	CITEC ENGINEERING INDIA PRIVATE LIMITED	Director	11/02/2004	11/02/2004	-	Active	NO
6	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	08/03/2004	08/03/2004	24/10/2012	Active	NO
7	U99999KA1995PLC052040	ADITYA BIRLA MINACS WORLDWIDE LIMITED	Director	07/01/2005	07/01/2005	-	Active	NO
8	U72200KA2000PLC031939	ADITYA BIRLA MINACS TECHNOLOGIES LIMITED	Director	22/01/2005	22/01/2005	04/05/2009	Amalgamated	NO
9	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	02/09/2005	02/09/2005	11/09/2012	Active	NO
10	L74140MH1992PLC068379	ALSTOM INDIA LIMITED	Director	28/12/2005	28/12/2005	-	Active	NO
11	L31300MH1957PLC010964	CABLE CORPORATION OF INDIA LIMITED	Director	30/01/2006	30/01/2006	30/06/2009	Active	NO
12	L85110TZ1955PLC015049	TTK PRESTIGE LIMITED	Director	25/05/2006	25/05/2006	-	Active	NO
13	L32100GJ1996PLC030976	IDEA CELLULAR LIMITED	Director	30/09/2006	02/09/2006	-	Active	NO
14	U72200KA2001PTC069316	TECHSET COMPOSITION INDIA PRIVATE LIMITED	Director	27/09/2007	29/08/2007	-	Active	NO
15	U72200KA2007FTC043627	CITEC INFORMATION INDIA PRIVATE LIMITED	Director	11/02/2009	11/09/2007	-	Amalgamated	NO
16	U74999MH2000PTC123855	FOWLER WESTRUP (INDIA) PRIVATE LIMITED	Director	19/12/2007	19/12/2007	-	Active	NO
17	U85110KA1974PLC002568	BHURUKA GASES LIMITED	Director	30/09/2008	17/04/2008	28/01/2009	Active	NO
18	L18101KA2004PLC033475	GOKALDAS EXPORTS LIMITED	Director	22/09/2009	01/02/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramesh
Designation :	Sales Executive
Name :	Mr. Omprakash Jagati
Designation :	Secretary
Address :	1208, Nandi Park, Near Gottigheri Bus Stop, Bannarghatta Main Road, Bangalore – 560 083, Karnataka, India
Date of Birth/Age :	05.10.1961
Date of Appointment :	15.11.2002
PAN No.:	ABQPJ7408Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 17.07.2012

Names of Shareholders	No. of Shares
John Fowler (India) Private Limited, India	4450000
Westrup A/S, Denmark	3000000
Total	7450000

AS ON 17.07.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	40.00
Bodies corporate	60.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Post Harvest Agricultural Processing Machinery and Transformer Oil Conditioning Machinery.

Products :

Item Code No. (ITC Code)	842119.09
Product Description	Transformer Oil Conditioning Machinery
Item Code No. (ITC Code)	843710.00
Product Description	Agricultural Products Processing Machinery

PRODUCTION STATUS [AS ON 31.03.2010]

Particulars	Installed Capacity* Per Annum Qty. Nos.	Actual Production # Qty. Nos.
Transformer oil conditioning equipment and allied equipments	275	128
Agricultural products processing machinery and allied equipments	1500	1085

* As certified by the Managing Director and relied on by the auditors being technical matter.

# Includes items manufactured through sub-contractors.

Licenced capacity – not applicable

GENERAL INFORMATION

No. of Employees :

400 (Approximately)

Bankers :

• Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India
• HDFC Bank Limited
• ING Vysya Bank Limited, 22, M.G. Road, Bangalore – 560 001, Karnataka, India
• State Bank of India
• Barclays Bank Plc, 20/21, Kamaraj Salai, Kanchipuram – 631 501, Tamilnadu, India

Facilities :

Secured Loans	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	91.992	0.000
Total	91.992	0.000

Banking Relations :	--
Auditors :
Name :	Sharp and Tannan Chartered Accountants
Address :	Ravindra Annexe, 194, Churchgate Reclamation, Dishaw Vaccha Road, Mumbai – 400 020, Maharashtra, India
Tel. No.:	91-22-22047722/ 23/ 66338343-47
Fax No.:	91-22-66338352
E-Mail :	sharp@bom3.vsnl.net.in
PAN No.:	AAAFS2967E
Holding Company :	John Fowler (India) Private Limited
Company having substantial influence :	Westrup A/S, Denmark
Subsidiary :	Radix Systems Limited, United Kingdom
Parties where common control exists :	Dickinson Fowler Private Limited

CAPITAL STRUCTURE

AS ON 17.07.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- each	Rs.90.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7450000	Equity Shares	Rs.10/- each	Rs.74.500 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		74.500	74.500	74.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		377.345	277.317	189.805
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		451.845	351.817	264.305
LOAN FUNDS
1] Secured Loans		91.992	0.000	0.000
2] Unsecured Loans		20.763	40.746	52.225
TOTAL BORROWING		112.755	40.746	52.225
DEFERRED TAX LIABILITIES		12.342	9.569	10.770
TOTAL		576.942	402.132	327.300
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		291.574	210.813	178.304
Capital work-in-progress		147.849	55.531	7.305
INVESTMENT		67.433	140.910	85.652
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	94.459	72.863	66.266
	Sundry Debtors	150.671	91.384	80.794
	Cash & Bank Balances	20.641	10.034	15.032
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	60.441	62.866	20.871
Total Current Assets		326.212	237.147	182.963
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	109.198	72.485	39.926
	Other Current Liabilities	103.972	91.685	45.879
	Provisions	42.956	78.099	41.119
Total Current Liabilities		256.126	242.269	126.924
Net Current Assets		70.086	(5.122)	56.039
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		576.942	402.132	327.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales and Service Charges – Gross	929.565	861.454	733.701
		Less: Excise duty	NA	10.057	14.435
		Sales and Service Charges – Net	NA	851.397	719.266
		Other Income	NA	6.578	9.042
		TOTAL (A)	NA	857.975	728.308
Less	EXPENSES
		Cost of Goods Sold	NA	443.463	429.859
		Employee Cost	NA	70.191	55.556
		Manufacturing, Selling and Administration Expenses	NA	152.291	141.981
		TOTAL (B)	NA	665.945	627.396
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	192.030	100.912
Less	FINANCIAL EXPENSES (D)		NA	1.687	0.144
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	190.343	100.768
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	21.470	17.466
	PROFIT BEFORE TAX (E-F) (G)		136.096	168.873	83.302
Less	TAX (H)		36.068	55.299	31.024
	PROFIT AFTER TAX (G-H) (I)		100.028	113.574	52.278
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		200.752	124.640	96.528
Less	APPROPRIATIONS
		Final Dividend	NA	22.350	16.168
		Tax on Dividend	NA	3.712	2.748
		Transfer to General Reserve	NA	11.400	5.250
	BALANCE CARRIED TO THE B/S		NA	200.752	124.640
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	54.874	63.058	53.237
		Others - Service Charges and Commission received		0.021	0.017
	TOTAL EARNINGS		54.874	63.079	53.254
	IMPORTS
		Raw Materials	NA	10.882	6.157
		Components and Spare Parts	NA	15.358	19.697
		Capital Goods	NA	37.062	1.868
	TOTAL IMPORTS		NA	63.302	27.722
	Earnings Per Share (Rs.)		13.43	15.24	8.10

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	13.24	7.18
Net Profit Margin (PBT/Sales)	(%)	NA	19.83	11.58
Return on Total Assets (PBT/Total Assets}	(%)	22.03	37.70	23.06
Return on Investment (ROI) (PBT/Networth)		0.30	0.48	0.32
Debt Equity Ratio (Total Debt/Networth)		0.25	0.12	0.20
Current Ratio (Current Asset/Current Liability)		1.27	0.98	1.44

LOCAL AGENCY FURTHER INFORMATION

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	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	No
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

Note:

The registered office of the company has been shifted from 19, Khetan Bhavan, 198, J. Tata Road, Mumbai – 400 020, Maharashtra to the present address w.e.f. 30.06.2007.

Unsecured Loans	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Other debt unsecured	(A)20.763	(B)40.746
Total	20.763	40.746

Notes:

(A) Interest free Sales Tax Deferment Loan [(under the capital investment scheme of the Government of Karnataka expired on 13^th August, 2008) (includes amount due within one year Rs.8.247 millions)]

(B) Interest free Sales Tax Deferment Loan [(under the capital investment scheme of the Government of Karnataka expired on 13^th August, 2008) (includes amount due within one year Rs.11.600 millions)]

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10293861	24/06/2011	360,000,000.00	Barclays Bank Plc	20/21, Kamaraj Salai, Kanchipuram, Tamilnadu - 631501, India	B15646888
2	10267008	29/06/2011 *	360,000,000.00	Barclays Bank Plc	20/21, Kamaraj Salai, Kanchipuram, Tamilnadu - 631501, India	B15665474
3	10100833	27/06/2013 *	400,000,000.00	Yes Bank Limited	9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra - 400018, India	B79052353
4	10110517	26/06/2013 *	400,000,000.00	Yes Bank Limited	9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,, Mumbai, Maharashtra - 400018, India	B79052908

* Date of charge modification

CONTINGENT LIABILITIES NOT PROVIDED FOR (AS ON 31.03.2011):

· Guarantees given to various authorities/ customers Rs.63.154 Millions

· Letter of Credit issued in favour of creditors Rs.2.287 Millions

FIXED ASSETS

Tangible Assets:

· Land-Freehold

· Factory Building

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Vehicles

Intangible Assets:

· Specialised Software/Patents

WEBSITE DETAILS:

NEWS:

FOWLER WESTRUP NEW FACTORY

12.07.2013

Fowler Westrup starts operation from the new world class manufacturing facility at Malur, 50 kms from Bangalore.

Fowler Westrup

The new facility of Fowler Westrup was inaugurated on 20^th June 2013. The facility is spread over 20 Acres with manufacturing space of over 19000 Sqmts. The company had tremendous growth over the years and has grown 20 times in the last 11 years. A new facility was felt to be necessary to meet the ever increasing demand for the products. The new facility has the latest State-of-the- Art capability for manufacturing Post Harvest Agricultural Processing Machinery, Grain Storage Silo Systems, Grain Conveying Systems, Opto Electronic Colour Sorter, Rice Milling machinery, Transformer Oil Filtration and Regeneration machinery.

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.59.45
UK Pound	1	Rs.91.24
Euro	1	Rs.78.44

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.