MIRA INFORM REPORT

Report Date :

05.06.2013

IDENTIFICATION DETAILS

Name :	KAMACHI SPONGE AND POWER CORPORATION LIMITED
Registered Office :	ABC Trade Centre, Old No. 50, (New No.39), 3^rd Floor, Anna Salai, Chennai-600002, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.10.2003
Com. Reg. No.:	18-051727
Capital Investment / Paid-up Capital :	Rs. 921.046 Millions
CIN No.: [Company Identification No.]	U27106TN2003PLC051727
TAN No.: [Tax Deduction & Collection Account No.]	CHEK07478C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Sponge Iron.
No. of Employees :	572 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 10000000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Exist
Comments :	Subject is an established company having a moderate track record. The latest financials 2012 are not available. As per previous year’s record 2011, there appeared huge external borrowings. However trade relations are reported as fair. Business is active. Payments are reported to be unknown. The company can be considered for business dealings with great 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: BB- (Suspended)
Rating Explanation	Moderate risk of default.
Date	03 May, 2013

Rating Agency Name	CRISIL
Rating	Short term rating: A4+ (Suspended)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	03 May, 2013

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. Arihant
Designation :	Manager
Contact No.:	91-44-42961113
Date :	31.06.2013

INFORMATION PARTED BY

Name :	Mr. Praveen
Designation :	Chief Executive Officer
Contact No.:	91-44-42961104
Date :	31.06.2013

LOCATIONS

Registered Office :	ABC Trade Centre, Old No. 50, (New No.39), 3^rd Floor, Anna Salai, Chennai-600002, Tamilnadu, India.
Tel. No.:	91-44-42961100
Fax No.:	91-44-42961122
E-Mail :	glkotari@vsnl.com vkkothari123@gmail.com info@kamachigroup.com sales@kamachitmt.com
Website:	www.kamachigroup.com
Corporate Office :	# 664, T H Road, Tondiarpet, Chennai-600081, Tamilnadu, India.
Tel. No.:	91-44-25910855/25910850
Fax No.:	91-44-25917603
E-Mail :	glkotari@vsnl.com
Factory :	Survey No. 86, 115-119, 123, Pathapalayam Village, Gummidipoondi, Tamilnadu, India.
Tel. No.:	91-44-25910855/25910850
Tel. No.:	91-44-27924614

DIRECTORS

As on 29.09.2012

Name :

Mr. Ghisulal Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, , Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

04.12.1950

Date of Appointment :

08.10.2003

DIN No.:

01168461

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	U45402TN1995PLC030832	ABC PROPERTIES LIMITED	Director	05/04/1995	05/04/1995	25/12/2009	Active	NO
2	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
3	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	24/07/2000	24/07/2000	-	Active	NO
4	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
5	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Whole-time director	13/09/2004	13/09/2004	-	Active	NO
6	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	28/09/2006	19/04/2006	-	Active	NO
8	U74899WB1995PLC114981	SHIVPRIYA FINVEST LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Director	19/02/2011	19/02/2011	-	Active	NO
12	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
13	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Shanthilal Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, , Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

01.05.1953

Date of Appointment :

08.10.2003

DIN No.:

01789941

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	U45402TN1995PLC030832	ABC PROPERTIES LIMITED	Director	05/04/1995	05/04/1995	25/12/2009	Active	NO
2	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
3	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	24/07/2000	24/07/2000	-	Active	NO
4	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
5	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	13/09/2004	13/09/2004	-	Active	NO
6	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	19/04/2006	19/04/2006	-	Active	NO
8	U28931WB1996PTC117342	DEVSHREE SAVING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
12	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Sardarmal Kothari

Designation :

Managing director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, , Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

03.10.1958

Date of Appointment :

02.08.2004

DIN No.:

01168374

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	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
2	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Managing director	01/04/2009	08/10/2003	-	Active	NO
3	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	02/08/2004	02/08/2004	-	Active	NO
4	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	13/09/2004	13/09/2004	-	Active	NO
5	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	01/10/2004	01/10/2004	-	Active	NO
6	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	28/09/2006	19/04/2006	-	Active	NO
8	U67120WB1996PTC117347	S B M INVESTMENTS PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
12	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Kewal Chand Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, , Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

15.06.1961

Date of Appointment :

08.10.2003

DIN No.:

01789704

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	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
2	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	20/01/2004	20/01/2004	-	Active	NO
3	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
4	U65921WB1994PTC117343	BOOH FINANCE COMPANY PVT LTD	Director	30/10/2007	30/10/2007	-	Active	NO
5	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
6	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
7	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Director	19/02/2011	04/02/2011	-	Active	NO
8	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
9	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Vinod Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, , Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

05.12.1972

Date of Appointment :

11.02.2004

DIN No.:

00215412

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	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	11/05/1998	11/05/1998	-	Active	NO
2	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	20/01/2004	20/01/2004	-	Active	NO
3	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	11/02/2004	11/02/2004	-	Active	NO
4	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	01/11/2004	01/11/2004	-	Active	NO
5	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
6	U65929WB1996PTC138106	PURE GOLD FINANCE PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
7	U67120WB1996PTC115245	UTTAM FINVEST PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
8	U67120WB1996PTC117347	S B M INVESTMENTS PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U74899WB1995PLC114981	SHIVPRIYA FINVEST LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
10	U65921WB1994PTC117343	BOOH FINANCE COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
11	U28931WB1996PTC117342	DEVSHREE SAVING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
12	U27310TN2008PTC067964	STRIDE STEELS PRIVATE LIMITED	Director	29/05/2008	29/05/2008	12/04/2011	Active	NO
13	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	01/04/2009	01/04/2009	-	Active	NO
14	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	27/09/2010	01/02/2010	-	Active	NO
15	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Additional director	19/01/2011	19/01/2011	07/03/2011	Active	NO
16	U65993WB1993PTC136508	SHOBHA INVESTMENT PRIVATE LIMITED	Director	22/03/2013	20/06/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. S Varada Raj
Designation :	Secretary
Address :	72/11, Thottasalai Street, Vagarayam Palayam (Po), Coimbatore (Dt), Pin – 641659, Tamilnadu, India
Date of Birth/Age :	01.04.1985
Date of Appointment :	01.02.2010
PAN No.:	AGDPV1076C
Name :	Mr. Arihant
Designation :	Manager
Name :	Mr. Praveen
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

SHAREHOLDING DETAIL FILE ATTACHED

As on 05.11.2012

Names of Allottees	No. of Shares
Narottamka Trade and Vyaapar Private Limited, India	840000
Total	840000

As on 17.04.2013

Names of Allottees	No. of Shares
Kamachi Steels Limited, India	12000000
Total	12000000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2012

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	2.17
Bodies corporate	94.83
Directors or relatives of Directors	3.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Sponge Iron.

Products :

Product Description	Item Code
Sponge Iron	72031000
Billets	72071920
Power	84118210

Imports :

Products :

Scrap and Coal

Countries :

· Indonesia

· South

· Africa

· Singapore

Terms :

Selling :

L/C, Cash and Credit

Purchasing :

L/C, Cash and Credit

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Sponge Iron	Metric Tonnes	120,000	84,575
WHR Power Plant	Units	10MW	28,618,380
Billets	Metric Tonnes	205,000	45,709

GENERAL INFORMATION

Customers :

· Wholesalers

· Retailers

· Manufacturer

No. of Employees :

572 (Approximately)

Bankers :

• Punjab National Bank, 150, LUZ Church Road, Mylapore, Chennai-600004, Tamilnadu, India.
• Oriental Bank of Commerce, Mylapore Branch, 63 Radha Krishnan Salai, Chennai-600004, Tamilnadu, India.
• Andhra Bank, Main Branch, 48/39, Rajaji Salai, Chennai-600001, Tamilnadu, India.
• Union Bank of India, Chennai
• State Bank of India (as Successor to State Bank of Indore), Industrial Finance Branch, 155, Anna Salai, Chennai – 600002, Tamilnadu, India

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	4442.562	2100.262
Working capital loans banks secured	667.915	171.352
Loans taken for vehicles secured	7.135	3.835
Loans taken for other fixed assets secured	4.124	0.000
Total	5121.736	2275.449

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountant
Address :	ASV N Ramanas Tower, 52, Venkat Tanarayana Road, T. Nagar, Chennai-600017, Tamilnadu, India.
PAN No.:	AACFD3771D
Associates:	· Goyal Ispat Limited · Kamachi Steels Limited · K.I. (International) Limited · Kamachi Investments Private Limited · Kamachi Granites Private Limited · Solanki Texcom Private Limited · Devshree Savings and Investment Company Private Limited · Booh Finance Company Private Limited · Shivpriya Finvest Limited · S B M Investments Private Limited · Pure Gold Finance Private Limited · Uttam Finvest Private Limited · Maa Durga Enterprises Limited · Stride Steels Private Limited

CAPITAL STRUCTURE

After 29.09.2012

Authorised Capital : Rs.1350.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.1181.286 Millions

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
112500000	Equity Shares	Rs.10/- each	Rs. 1125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
104088571	Equity Shares	Rs.10/- each	Rs. 1040.886 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
112500000	Equity Shares	Rs.10/- each	Rs. 1125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
92104600	Equity Shares	Rs.10/- each	Rs. 921.046 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		921.046	492.886	366.886
2] Share Application Money		100.000	10.000	30.000
3] Reserves & Surplus		1481.988	782.822	570.513
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2503.034	1285.708	967.399
LOAN FUNDS
1] Secured Loans		5121.736	2275.449	606.780
2] Unsecured Loans		192.600	155.771	94.826
TOTAL BORROWING		5314.336	2431.220	701.606
DEFERRED TAX LIABILITIES		111.554	84.519	75.947
TOTAL		7928.924	3801.447	1744.952
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2079.704	1036.959	1063.287
Capital work-in-progress		5177.649	2415.760	522.934
INVESTMENT		2.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1213.289	166.998	229.670
	Sundry Debtors	198.503	83.334	84.002
	Cash & Bank Balances	81.760	126.684	89.740
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	500.063	224.004	50.758
Total Current Assets		1993.615	601.020	454.170
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1127.173	190.665	26.332
	Other Current Liabilities	173.227	53.973	266.348
	Provisions	23.644	7.654	2.759
Total Current Liabilities		1324.044	252.292	295.439
Net Current Assets		669.571	348.728	158.731
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7928.924	3801.447	1744.952

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2284.881	1148.885	1353.703
		Other Income	34.018	19.071	16.677
		TOTAL (A)	2318.899	1167.956	1370.380
Less	EXPENSES
		Manufacturing service costs	267.291	24.741
		Consumption materials changes inventories	1610.203	899.455
		Employee related expenses	55.728	31.579
		Administrative selling other expenses	39.791	24.691
		TOTAL (B)	1973.013	980.466	1194.653
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		345.886	187.490	175.727
Less	FINANCIAL EXPENSES (D)		171.503	95.537	103.478
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		174.383	91.953	72.249
Less/ Add	DEPRECIATION/ AMORTISATION (F)		88.552	61.071	58.403
	PROFIT BEFORE TAX (E-F) (G)		85.831	30.882	13.846
Less	TAX (H)		28.905	7.573	6.688
	PROFIT AFTER TAX (G-H) (I)		56.926	23.309	7.158
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		33.269	9.960	2.802
	BALANCE CARRIED TO THE B/S		90.200	33.269	9.960
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.000	13.870	4.821
	IMPORTS
		Stores & Spares	1.441	0.000	0.036
		Raw Material	509.927	208.161	80.411
		Capital Goods	93.842	65.570	0.000
	TOTAL IMPORTS		605.210	273.731	80.447
	Earnings Per Share (Rs.)
	Basic		1.00	0.60	0.30
	Diluted		0.99	0.57	0.29

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.45	2.00	0.52
Net Profit Margin (PBT/Sales)	(%)	3.76	2.69	1.02
Return on Total Assets (PBT/Total Assets}	(%)	4.31	5.14	3.05
Return on Investment (ROI) (PBT/Networth)		0.03	0.02	0.01
Debt Equity Ratio (Total Debt /Networth)		2.12	1.89	0.73
Current Ratio (Current Asset/Current Liability)		1.51	2.38	1.24

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
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	Yes
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	Yes

LITIGATION DETAILS

CHENNAI COURT
CASE STATUS INFORMATION SYSTEM

Case Status:	Pending
Status Of:	Civil Suits
Case No.:	434
Year :	2011
Petitioner :	Yeses Infrastructure Private Limited
Respondent :	M/s.Kamachi Sponge and Power
Pet's Advocate :	M/s.P.Subba Reddy
Res's Advocate :	M/s.K.Jay Achandran
Category :	Money Suits
	Last Listed on: No Date Mentioned
Case Updated on :	20 March, 2012

NOTE: Registered office of the company has been shifted fromNo.664, T.H Raod, Tondiarpet, Chennai – 600081, Tamilnadu, India to the present address w.e.f 11.08.2008

OPERATIONAL REVIEW

The Company, on a consolidated basis, has achieved a gross sale of Rs.2500.900 Millions for the year under report, as compared to Rs. 1235.200 Millions in the previous year. Profit before tax has increased to Rs. 85.800 Millions from previous years Rs. 30.900 Millions. Profit after tax has increased to Rs.56.900 Millions from previous years Rs.23.300 Millions. Reserves and Surplus have increased from Rs.782.800 Millions to Rs. 1482.000 Millions.

UNSECURED LOAN

Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans others unsecured	47.600	43.800
Other debt unsecured	145.000	111.971
Total	192.600	155.771

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U27106TN2003PLC051727
Name of the company	KAMACHI SPONGE AND POWER CORPORATION LIMITED
Address of the registered office or of the principal place of business in India of the company	ABC Trade Centre, Old No. 50, (New No.39), 3^rd Floor, Anna Salai, Chennai-600002, Tamilnadu, India. Email: vkkothari123@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80063474
Type of charge	· Immovable property · Movable property (not being pledge)
Particular of charge holder	(CIN: U27106TN2003PLC051727) State Bank of India (as Successor to State Bank of Indore), Industrial Finance Branch, 155, Anna Salai, Chennai – 600002, Tamilnadu, India Email: senthil.rm.ifb@gmail.com
Nature of instrument creating charge	1. Supplementary Agreement for Reschedulement of Term Loan dated 26.03.2013
Date of instrument Creating the charge	26.03.2013
Amount secured by the charge	Rs.145.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term loan to carry floating interest rate of Base Rate (BR) of MI plus 1.25% till 31/03/2014 and thereafter to carry floating interest rate of BR of MI plus 2.00% P.A with monthly rests. Terms of Repayment Principal payment (after moratorium of 18 months from 01.07.2012 to 31.12.2013) will commence from quarter ending March 2014. Repayment will be in 34 quarterly installments commencing from quarter ending March 2014 and ending on quarter ending June 2022 as detailed in Schedule I of Supplementary Agreement for Reschedulement of Term Loan dated 26.03.2013. Extent and Operation of the charge The Charge already created continues to secure the outstanding under the loan of Rs.145.000 Millions together with interest, cost and other charges. Others 2ONE
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Moveable (fixed Assets) both present and future i.e., Plant and Machinery, machinery spares, tools and accessories and other movable fixed assets, both present and future assets of the Company at Pappan Kuppam, Gummidi Poondi, Tamil Nadu. Ranking: First Charge on pari-passu basis with State Bank of Mysore. Entire Stocks of Raw materials, Stock in process, finished goods, consumable stores and spares, Receivables etc., and all other Current Assets of the Company both present and future, Ranking : Second charge on pari-passu basis with State Bank of Mysore. Mortgages created / to be created with Security Trustees Iand II shall rank paripassu with other Charge holders (Term Loans and WCTL).
Date of instrument modifying the charge	07.06.2006
Particulars of the present modification	By the Modification, the Repayment of the outstandings under this Term Loan - II availed from State Bank of Indore (Since Merged with SBI) as on 01.07.2012.

FIXED ASSETS

• Land and Site Development
• Motor Cycle
• CWIP Civil
• CWIP Electrical
• CWIP Plant and 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 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.56.64
UK Pound	1	Rs.86.69
Euro	1	Rs.73.97

INFORMATION DETAILS

Information Gathered by :	HEL
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	YES
--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		34

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.