MIRA INFORM REPORT

Report Date :

05.06.2013

IDENTIFICATION DETAILS

Name :	POLYCAB WIRES PRIVATE LIMITED (w.e.f. 15.06.2001)
Formerly Known As :	POLYCAB WIRES LIMITED
Registered Office :	HICO House, 1^st Floor, 771, Pandit Satwalekar Marg, Mahim (West), Mumbai - 400016, Maharashtra
Country :	India
Financials (as on) :	29.09.2012
Date of Incorporation :	10.01.1996
Com. Reg. No.:	11-096105
Capital Investment / Paid-up Capital :	Rs.655.880 Millions
CIN No.: [Company Identification No.]	U31300MH1996PTC096105
TAN No.: [Tax Deduction & Collection Account No.]	MUMP15167F
PAN No.: [Permanent Account No.]	AAACP6474E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of LT PVC / XLPE Power, Control, Instrumentation Cables, Flexible, House Wires, ACSR, AAAC, Ariel Bunched wires.
No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 42000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having a satisfactory track record. Financial position seems to be good. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealing at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Long Term Rating = BBB-
Rating Explanation	The default risk is currently low. The capacity for payment of financial commitment is considered adequate
Date	February, 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.

LOCATIONS

Registered Office / Head Office :	1^st Floor, HICO House, 771, Pandit Satwalekar Marg, Mahim (West), Mumbai – 400 016, Maharashtra, India
Tel. No.:	91-22-24327070/ 74/ 75/ 24329118/ 24362199 / 673516466
Fax No.:	91-22-24327075/ 24322141
E-Mail :	polycab@bom3.vsnl.net.in polycab@vsnl.com dispatel@polycab.com ds@polycab.com sagar.parab@polycab.com sonalik@polycab.com info@polycab.com sai.naryana@polycab.com
Website :	http://www.polycab.com http://www.polycabwires.com
Location :	Owned
Factory 1 :	Plot No.74/ 7-11, Daman Industrial Estate, Airport Dalwade Road, Village Kadaia, Daman – 396210, Union Territory, India
Tel. No.:	91-260-3291031/ 3291070/ 2220422/ 25/ 28
Fax No.:	91-260-2221009
E-Mail :	naina@polycab.com
Factory 2 :	55/1, 65/1, Rameshwar Road, Baska Halol, District Panchmahal - 389350, Gujarat, India
Factory 3 :	Unit. 4, Plot No. 67/72, Village: Nurpura, Taluka Halol, District Panchmahal - 389350, Gujarat, India
Branch Office :	Located At · · Andhra Pradesh · Assam · Bihar · Chandigard · Chhattisgarh · Delhi · Gujarat · Himachal Pradesh · Jharkhand · Karnataka · Kerala · Madhya Pradesh · Maharashtra, · Odisha · Punjab · Rajasthan · Tamilnadu · Uttar Pradesh · West Beagle

DIRECTORS

As on 29.09.2012

Name :

Mr. Inder Thakurdas Jaisinghani

Designation :

Chairman Cum Managing Director

Address :

17/6, Khiaram Bhavan R.A. Kidwai Road, Wadala, Mumbai- 400003, Maharashtra, India

Date of Birth/Age :

29.03.1952

Date of Appointment :

20.12.1997

PAN No. :

AAAPJ9287G

DIN No.:

00309108

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	U31300MH1995PTC094751	JAISINGH WIRES PRIVATE LIMITED	Director	24-11-95	24-11-95	-	Active	NO
2	U31300MH1996PTC099083	POLYCAB CABLES PRIVATE LIMITED	Director	24-04-96	24-04-96	-	Amalgamated	NO
3	U31300MH1996PTC096105	POLYCAB WIRES PRIVATE LIMITED	Managing director	20-12-97	20-12-97	-	Active	NO
4	U31300MH1998PTC114308	POLYCAB INDUSTRIES PRIVATE LIMITED	Director	01-04-98	01-04-98	-	Amalgamated	NO
5	U31300MH2005PTC154740	POLYCAB WIRES AND CABLES PRIVATE LIMITED	Director	13-07-05	13-07-05	-	Strike off	NO
6	U27200MH2005PTC153631	SIDDHANT ISPAT PRIVATE LIMITED	Director	28-04-06	28-04-06	07-02-08	Active	NO
7	U31401MH2007PTC175153	POLYCAB WIRES INDUSTRIES PRIVATE LIMITED	Director	18-10-07	18-10-07	-	Active	NO
8	U67190MH2008PTC182121	JAISINGH FINANCE PRIVATE LIMITED	Director	12-05-08	12-05-08	-	Active	NO
9	U74999MH2008PTC187471	POLYCAB CABLES INDUSTRIES PRIVATE LIMITED	Director	13-10-08	13-10-08	-	Active	NO
10	U25200MH2008PTC187875	BNK PLASTICS PRIVATE LIMITED	Director	31-10-08	31-10-08	-	Amalgamated	NO
11	U74999MH2008PTC188260	POLYCAB INDUSTRIES DAMAN PRIVATE LIMITED	Director	17-11-08	17-11-08	-	Amalgamated	NO
12	U45400TN2009PTC073358	IKTA CONSTRUCTIONS PRIVATE LIMITED	Director	29-10-09	29-10-09	-	Active	NO
13	U31908MH2013PTC241331	POLYCAB SWITCHGEARS PRIVATE LIMITED	Director	25-03-13	25-03-13	-	Active	NO
14	U31401MH2013PTC241569	POLYCAB ELECTRICAL INDUSTRIES PRIVATE LIMITED	Director	01-04-13	01-04-13	-	Active	NO
15	U32109DL2005PTC142512	POPLI G ELECTRONICS PRIVATE LIMITED	Director	03-05-13	03-05-13	-	Active	NO

Name :

Mr. Ramakrishnan Ramamurthi

Designation :

Managing director

Address :

Flat No. A-44, Kalptaru Residency, Plot No. 107, Kamani Road, Mumbai – 400022, Maharashtra, India

Date of Birth/Age :

31.07.1961

Date of Appointment :

01.04.2012

PAN No. :

AACPJ2100L

DIN No.:

00120246

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	U28991MH1993PLC075870	STANLEY BLACK AND DECKER INDIA LIMITED	Director	27-05-00	27-05-00	01-03-12	Active	NO
2	U27302UP1951PLC002355	HIND LAMPS LMITED	Director	16-06-00	16-06-00	29-03-12	Active	NO
3	L31500MH1938PLC009887	BAJAJ ELECTRICALS LIMITED	Whole-time director	26-10-11	26-10-06	01-03-12	Active	NO
4	U31300MH1995PLC090213	STARLITE LIGHTING LIMITED	Director	29-09-07	25-06-07	20-02-12	Active	NO
5	U51109MH2011PTC213854	GIGANTIC WEEKS TRADING PRIVATE LIMITED	Additional director	08-02-12	08-02-12	-	Active	NO
6	U45202MH2011PTC214768	FABIENNE DEVELOPERS PRIVATE LIMITED	Additional director	08-02-12	08-02-12	-	Active	NO
7	U31300MH1996PTC096105	POLYCAB WIRES PRIVATE LIMITED	Managing director	01-04-12	01-04-12	-	Active	NO

Name :

Mr. Ajay Thakurdas Jaisinghani

Designation :

Whole Time Director

Address :

17/6, Khaira, Bhavan, R.A Kidwai Road, Wadala, Mumbai – 400031, Maharashtra, India

Date of Birth/Age :

12.01.1954

Date of Appointment :

01.09.2007

PAN No. :

AACPJ2099J

DIN No.:

00276588

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	U31300MH1995PTC094751	JAISINGH WIRES PRIVATE LIMITED	Director	01-09-07	24-11-95	-	Active	NO
2	U31300MH1996PTC099083	POLYCAB CABLES PRIVATE LIMITED	Director	16-03-00	16-03-00	30-07-10	Amalgamated	NO
3	U31300MH2005PTC154740	POLYCAB WIRES AND CABLES PRIVATE LIMITED	Director	13-07-05	13-07-05	-	Strike off	NO
4	U31300MH1996PTC096105	POLYCAB WIRES PRIVATE LIMITED	Whole-time director	01-09-07	27-04-06	-	Active	NO
5	U31401MH2007PTC175153	POLYCAB WIRES INDUSTRIES PRIVATE LIMITED	Director	18-10-07	18-10-07	-	Active	NO
6	U67190MH2008PTC182121	JAISINGH FINANCE PRIVATE LIMITED	Director	12-05-08	12-05-08	-	Active	NO
7	U74999MH2008PTC187471	POLYCAB CABLES INDUSTRIES PVT.LTD	Director	13-10-08	13-10-08	-	Active	NO
8	U25200MH2008PTC187875	BNK PLASTICS PRIVATE LIMITED	Director	31-10-08	31-10-08	-	Amalgamated	NO
9	U74999MH2008PTC188260	POLYCAB INDUSTRIES DAMAN PRIVATE LIMITED	Director	17-11-08	17-11-08	-	Amalgamated	NO
10	U32109DL2005PTC142512	POPLI G ELECTRONICS PRIVATE LIMITED	Director	03-05-13	03-05-13	-	Active	NO

Name :

Mr. Ramesh Thakurdas Jaisinghani

Designation :

Whole Time Director

Address :

701/2, Salisbury Park, 82, Hill, Bandra (West), Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

07.05.1956

Date of Appointment :

10.01.1996

DIN No.:

00309314

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	U31300MH1996PTC096105	POLYCAB WIRES PRIVATE LIMITED	Whole-time director	10-01-96	10-01-96	-	Active	NO
2	U31300MH1996PTC099083	POLYCAB CABLES PRIVATE LIMITED	Director	24-04-96	24-04-96	30-07-10	Amalgamated	NO
3	U31300MH1998PTC114308	POLYCAB INDUSTRIES PRIVATE LIMITED	Director	01-04-98	01-04-98	-	Amalgamated	NO
4	U31300MH2005PTC154740	POLYCAB WIRES AND CABLES PRIVATE LIMITED	Director	13-07-05	13-07-05	-	Strike off	NO
5	U27200MH2005PTC153631	SIDDHANT ISPAT PRIVATE LIMITED	Director	28-04-06	28-04-06	07-02-08	Active	NO
6	U31401MH2007PTC175153	POLYCAB WIRES INDUSTRIES PRIVATE LIMITED	Director	18-10-07	18-10-07	-	Active	NO
7	U67190MH2008PTC182121	JAISINGH FINANCE PRIVATE LIMITED	Director	12-05-08	12-05-08	-	Active	NO
8	U74999MH2008PTC187471	POLYCAB CABLES INDUSTRIES PVT.LTD	Director	13-10-08	13-10-08	-	Active	NO
9	U25200MH2008PTC187875	BNK PLASTICS PRIVATE LIMITED	Director	31-10-08	31-10-08	-	Amalgamated	NO
10	U74999MH2008PTC188260	POLYCAB INDUSTRIES DAMAN PRIVATE LIMITED	Director	17-11-08	17-11-08	-	Amalgamated	NO
11	U31300GJ2010PTC059612	NEXANS INDIA PRIVATE LIMITED	Director	17-02-10	17-02-10	05-07-10	Active	NO
12	U32109DL2005PTC142512	POPLI G ELECTRONICS PRIVATE LIMITED	Director	03-05-13	03-05-13	-	Active	NO

Name :

Mr. Lemaire Claude Michel

Designation :

Director

Address :

64, Rue Dr, Bellecgasse – 75007, Paris

Date of Birth/Age :

21.12.1946

Date of Appointment :

29.09.2010

DIN No.:

02879461

KEY EXECUTIVES

Name :	Mr. Vilas Pandurang Unavane
Designation :	Company Secretary
Date of Appointment :	26.08.2008
PAN No.:	AAAPU2413P

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Inder Thakrudas Jaisinghani	14999078
Ramesh Thakrudas Jaisinghani	11999678
Ajay Thakrudas Jaisinghani	12001910
Girshari Thakrudas Jaisinghani	11999678
Bharat Ajay Jaisinghani	3000996
Nikhil Ramesh Jaisinghani	3000996
Reena Ramesh Jaisinghani	960
Anil Hariram Haraiani	2999400

As on 28.12.2012

Names of Allottee	No. of Shares Allotted
International Finance Corporation	5014453
Total	5014453

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

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	8.50
Directors or relatives of Directors	91.50
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of LT PVC / XLPE Power, Control, Instrumentation Cables, Flexible, House Wires, ACSR, AAAC, Ariel Bunched wires.

Products :

Product Description	ITC Code
Cable and Wires	8544

• House wires
• Flexible cables
• LT 1100 volt grade cables
• Instrumentation cables
• Railway Signalling cables approved by R.D.S.O. and Rites
• LT 1100 Volt Grade Rubber Cables
• Fire Survival cables
• Zero Halogen (Halogen) Free cables
• Structure cables
• Telephone cables 
• PVC Compound

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Electrical Cables and Wires	KM	981000	882920

Note:

Installed capacity is as certified by the management of the company, on which auditors have relied, being a technical matter.

GENERAL INFORMATION

No. of Employees :

1500 (Approximately)

Bankers :

· IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai -400 005, Maharashtra, India

· Punjab National Bank, ILACO House, Sir P.M. Road Fort, Mumbai – 400001, Maharashtra, India

· ICICI Bank Limited, Land Mark Race, Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India

· State Bank of India

· Standard Chartered Bank, Fort, Mumbai, Maharashtra, India

· Citi Bank, Mumbai, Maharashtra, India

· State Bank of India, Industrial Finance Branch, Lekhraj Bhavan, Saki Vihar Road, Saki Naka, Mumbai - 400072,

· HDFC Bank, Fort, Mumbai, Maharashtra, India

· Export Importer Bank of India, Center One Building, World Trade Center, 21^st Floor, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Fully convertible debentures banks	0.000	1700.000
Rupee term loans from banks	0.000	463.630
Short-term borrowings
Term loans from banks	3483.250	5380.74
Foreign currency term loans from others	1239.000	3701.110
Total	4722.250	11245.480

Banking Relations :	--
Auditors :
Name :	S.R. Batliboi and Associates Chartered Accountants
Address :	14th 15th and 16th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai - 400028, Maharashtra, India
Tel. No.:	91-22-61920000
Fax No.:	91-22-61921000
PAN No.:	AABFS3421N
Subsidiary Company :	· Jaisingh Wires Private Limited · Polycab Wires Industries Private Limited · Polycab Cables Industries Private Limited

CAPITAL STRUCTURE

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
91000000	Equity Shares	Rs.10/- each	Rs.910.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
70602919	Equity Shares	Rs.10/- each	Rs.706.029 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
91000000	Equity Shares	Rs.10/- each	Rs.910.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
65588466	Equity Shares	Rs.10/- each	Rs.655.885 Millions

Disclosure of shareholding more than five per cent in company

Name of shareholder	Number of shares held in company	Percentage of shareholding in company
Inder Jaisinghani	14.99	22.87%
Ramesh Jaisinghani	11.99	18.30%
Ajay jaisinghani	12	18.30%
Girdhari Jaisinghani	11.99	18.30%
IFC	5.58	8.50%

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		655.880	655.740	655.738
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		9891.830	8831.03	8205.618
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		10547.710	9486.770	8861.356
LOAN FUNDS
1] Secured Loans		4722.250	11245.480	8573.659
2] Unsecured Loans		2934.100	697.290	2443.120
TOTAL BORROWING		7656.350	11942.770	11016.779
DEFERRED TAX LIABILITIES		190.440	95.390	0.000
TOTAL		18394.500	21524.930	19878.135
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4745.920	3525.090	2891.307
Capital work-in-progress		2201.520	1605.880	1289.384
INVESTMENT		105.130	289.650	214.646
DEFERREX TAX ASSETS		0.000	0.000	31.358
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	6599.710	8138.810	8335.472
	Sundry Debtors	11334.820	10764.770	8091.073
	Cash & Bank Balances	214.050	120.170	279.962
	Other Current Assets	118.900	136.760	15.581
	Loans & Advances	2756.930	3539.190	2300.694
Total Current Assets		21024.410	22699.700	19022.782
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6431.060	4777.080	2503.047
	Other Current Liabilities	3155.320	1722.410	881.897
	Provisions	96.100	95.900	186.399
Total Current Liabilities		9682.480	6595.390	3571.343
Net Current Assets		11341.930	16104.310	15451.439
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		18394.500	21524.930	19878.135

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Sales (Net)		31767.058	25113.951
		Other Income		367.389	332.408
		TOTAL (A)		32134.447	25446.359
Less	EXPENSES
		Cost of goods Consumed		30808.180	20189.335
		Increase/ Decrease in Stock		(4745.582)	(884.221)
		Manufacturing Expenses		2415.722	2088.415
		Personnel Expenses		438.549	279.461
		Administrative And Other Expenses		862.101	1180.532
		Employees Remuneration and benefits		0.000	0.000
		TOTAL (B)		29778.970	22853.522
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			2355.477	2592.837
Less	FINANCIAL EXPENSES (D)			1081.121	732.743
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	1274.356	1860.094
Less/ Add	DEPRECIATION/ AMORTISATION (F)			215.973	122.421
	PROFIT BEFORE TAX (E-F) (G)			1058.383	1737.673
Less	TAX (H)			356.753	598.107
	PROFIT AFTER TAX (G-H) (I)			701.630	1139.566
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			5389.163	4421.652
Less	APPROPRIATIONS
		Transfer to General Reserve		0.000	56.978
		Proposed Dividend		65.574	98.361
		Tax on Dividend		10.638	16.716
	BALANCE CARRIED TO THE B/S			6014.581	5389.163
	EARNINGS IN FOREIGN CURRENCY
		Export FOB Value	NA	739.894	524.879
		Other Earnings	NA	18.132	15.286
	TOTAL EARNINGS		NA	758.026	540.165
	IMPORTS
		Raw Materials	NA	5744.462	6234.531
		Stores & Spares	NA	201.539	440.450
		Capital Goods	NA	21.793	7.606
	TOTAL IMPORTS		NA	5967.794	6682.587
	Earnings Per Share (Rs.)
	Basic		NA	10.70	17.76
	Diluted		NA	10.27	16.54

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	2.18	4.48
Net Profit Margin (PBT/Sales)	(%)	NA	3.33	6.92
Return on Total Assets (PBT/Total Assets}	(%)	NA	4.12	7.92
Return on Investment (ROI) (PBT/Networth)		NA	0.11	0.20
Debt Equity Ratio (Total Debt /Networth)		0.73	1.36	1.24
Current Ratio (Current Asset/Current Liability)		2.17	3.44	5.33

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Short-term borrowings
Rupee term loans from banks	0.000	500.000
Foreign currency term loans from others	2841.600	116.060
Loans and advances from directors	52.570	47.210
Loans and advances from others	39.930	34.020
Total	2934.100	697.290

FIXED ASSETS:

· Freehold land

· Lease hold Land

· Buildings

· Plant and machinery

· Electrical installation

· Vehicles

· Furniture, Fixtures

· Office equipments

· Motor Car

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

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		48

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.