MIRA INFORM REPORT

Report Date :

12.06.2013

IDENTIFICATION DETAILS

Name :	COOPER CORPORATION PRIVATE LIMITED [w.e.f. 31.05.2008]
Formerly Known As :	COOPER FOUNDRY PRIVATE LIMITED
Registered Office :	L-3, Additional MIDC, Kodoli, Satara-415004, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	28.01.1982
Com. Reg. No.:	11-26229
Capital Investment / Paid-up Capital :	Rs.11.200 Millions
CIN No.: [Company Identification No.]	U27101PN1982PTC026229
TAN No.: [Tax Deduction & Collection Account No.]	PNEC05734B
PAN No.: [Permanent Account No.]	AAACC9687J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Engine Components.
No. of Employees :	500 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 3870000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having a good track record. There appears slight dip in its profitability during 2012. However, general financial position seems to be strong. Performance capability is high. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered for normal 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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	BBB + [Cash Credit and Term Loan]
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	May 2012

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. S.B. Deshpande
Designation :	Accounts Department
Contact No.:	91-2162-240413

LOCATIONS

Registered Office/ Factory :	L-3, Additional MIDC, Kodoli, Satara-415004, Maharashtra, India
Tel. No.:	91-2162-240413 / 244413 / 244273 / 244272 / 240413 / 240272 / 240273 / 240702 / 240703 / 248702 / 248703
Fax No.:	91-2162-244271 / 247023 / 240271 / 240023
E-Mail :	centrifugal@vsnl.com contact@coopercorp.in centrifugal@coopercorp.in
Website :	http://www.coopercorp.in
Location :	Owned
Factory (Since 2006):	M-60, Additional MIDC, Kodoli, Satara-415004, Maharashtra, India

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Farrokh Nariman Cooper

Designation :

Managing Director

Address :

Mayfair Gardens, Camp, Satara – 415 001, Maharashtra, India

Date of Appointment :

28.01.1982

DIN No.:

00133576

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	Company/ LLP Status	Defaulting status
1	U27101PN1982PTC026229	COOPER CORPORATION PRIVATE LIMITED	Managing director	28/01/1982	28/01/1982	Active	NO
2	U27101PN1982PTC026228	COOPER METALS PRIVATE LIMITED	Managing director	28/01/1982	28/01/1982	Active	NO

Name :

Mr. Sam Nariman Cooper

Designation :

Director

Address :

Hunt Worth, Camp, Satara – 415 001, Maharashtra, India

Date of Appointment :

28.01.1982

DIN No.:

00133781

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	Company/ LLP Status	Defaulting status
1	U27101PN1982PTC026229	COOPER CORPORATION PRIVATE LIMITED	Director	28/01/1982	28/01/1982	Active	NO
2	U27101PN1982PTC026228	COOPER METALS PRIVATE LIMITED	Director	28/01/1982	28/01/1982	Active	NO

Name :

Mrs. Maharookh Farrokh Cooper

Designation :

Director

Address :

Mayfair Gardens, Camp, Satara – 415 001, Maharashtra, India

Date of Birth/Age :

24.06.1947

Date of Appointment :

05.07.2008

DIN No.:

01899903

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	Company/ LLP Status	Defaulting status
1	U27101PN1982PTC026229	COOPER CORPORATION PRIVATE LIMITED	Director	05/07/2008	05/07/2008	Active	NO
2	U27101PN1982PTC026228	COOPER METALS PRIVATE LIMITED	Director	30/09/2010	26/06/2010	Active	NO

Name :

Mr. Zal Sam Cooper

Designation :

Director

Address :

Hunt Worth, Camp, Satara – 415 001, Maharashtra, India

Date of Birth/Age :

05.01.1965

Date of Appointment :

05.07.2008

DIN No.:

01899924

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	Company/ LLP Status	Defaulting status
1	U27101PN1982PTC026229	COOPER CORPORATION PRIVATE LIMITED	Director	05/07/2008	05/07/2008	Active	NO
2	U27101PN1982PTC026228	COOPER METALS PRIVATE LIMITED	Director	30/09/2010	26/06/2010	Active	NO

Name :

Mr. Suryaji Gavalax Swami

Designation :

Director

Address :

Raghuchandra, 500 A/4, Sadar Bazar, Satara – 415 001, Maharashtra, India

Date of Birth/Age :

29.07.1944

Date of Appointment :

05.07.2008

DIN No.:

01900503

Name :

Mr. Jitendra Babgonda Patil

Designation :

Director

Address :

Flat 3/A, Rahul Apartment, 83/10, Erandawana, Pune – 411 004, Maharashtra, India

Date of Birth/Age :

20.05.1937

Date of Appointment :

05.07.2008

DIN No.:

01920473

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	Company/ LLP Status	Defaulting status
1	U27101PN1982PTC026229	COOPER CORPORATION PRIVATE LIMITED	Director	05/07/2008	05/07/2008	Active	NO
2	U27101PN1982PTC026228	COOPER METALS PRIVATE LIMITED	Director	30/09/2010	26/06/2010	Active	NO

Name :

Mr. Ramesh Mahadev Jadhav

Designation :

Director

Address :

Karmavir Nagar, MIDC, Satara-415004, Maharashtra, India

Date of Appointment :

30.09.2010

DIN No.:

03013791

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	Company/ LLP Status	Defaulting status
1	U27101PN1982PTC026229	COOPER CORPORATION PRIVATE LIMITED	Director	30/09/2010	30/04/2010	Active	NO

KEY EXECUTIVES

Name :	Mr. S.B. Deshpande
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Farrokh Nariman Cooper	67207
Sam Nariman Cooper	72793
Maharookh Farrokh Cooper	461300
Cooper Metals, India	518000
Amy V. Tarapore	7
Manisha Farrokh Copper	623
Suryaji Gavalax Swami	70
TOTAL	1120000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	46.25
Directors or relatives of directors	53.74
Other top fifty shareholders	0.01
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Engine Components.
Exports :
Products :	Finished Goods
Countries :	China Taiwan Japan Germany Italy USA
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Installed Capacity	Actual Production
C.I. Castings	MTS	51000*	40523*
Engines/ Gensets	Nos.	6000	216

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

500 [Approximately]

Bankers :

• Citi Bank N.A., Bandra Kurla Complex, G-Block, Bandra (East), Mumbai – 400 051, Maharashtra, India

• Corporation Bank, Industrial Finance Branch, 14 Pune Mumbai Road, Wakdewadi, Pune – 411 003, Maharashtra, India

Tel No.: 91-20-25512732

• Axis Bank Limited, Pune Branch at 1262/B, Jangli Maharaj Road, Deccan Gymkhana, Pune – 411 004, Maharashtra, India

• IDBI Bank Limited, MIDC, Godoli Branch, Satara, Maharashtra, India

• Industrial Development Bank of India Limited

• Bank of Maharashtra

• ICICI Bank Limited

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
Term Loan From Banks	188.617	378.201
Short Term Borrowings
Loans Repayable on Demand	702.995	509.703
TOTAL	891.612	887.904

Banking Relations :	--
Auditors :
Name :	S.R. Choursiya and Company Chartered Accountants
Address :	61, Pantacha Got, Opposite Karad Urban Bank, Satara-415001, Maharashtra, India
PAN No:	AANPC4240K
Associates :	Cooper Metals Private Limited [U27101PN1982PTC026228]

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1120000	Equity Shares	Rs.10/- each	Rs.11.200 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	11.200	11.200
(b) Reserves & Surplus	957.795	865.396
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
(3) Non-current liabilities
(a) long-term borrowings	225.340	414.923
(b) Deferred tax liabilities (Net)	137.228	61.270
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	5.773	0.000
(4) Current liabilities
(a) Short term borrowings	710.916	514.889
(b) Trade payables	456.289	499.587
(c) Other current liabilities	345.228	412.729
(d) Short-term provisions	47.459	65.496
TOTAL	2897.228	2845.490
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1110.288	1218.506
(ii) Intangible Assets	372.699	403.067
(iii) Capital work-in-progress	79.816	20.359
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	9.495	8.995
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	119.065	51.064
(e) Other Non-current assets	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	320.709	246.317
(c) Trade receivables	595.605	677.804
(d) Cash and cash equivalents	73.897	64.678
(e) Short-term loans and advances	177.995	90.290
(f) Other current assets	37.659	64.410
TOTAL	2897.228	2845.490

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		11.200
2] Share Application Money		0.000
3] Reserves & Surplus		723.927
4] (Accumulated Losses)		0.000
NETWORTH		735.127
LOAN FUNDS
1] Secured Loans		1318.655
2] Unsecured Loans		60.887
TOTAL BORROWING		1379.542
DEFERRED TAX LIABILITIES		79.464
TOTAL		2194.133
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1591.179
Capital work-in-progress		96.406
INVESTMENT		8.824
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	172.738
	Sundry Debtors	574.055
	Cash & Bank Balances	53.861
	Other Current Assets	0.000
	Loans & Advances	168.411
Total Current Assets		969.065
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	479.500
	Other Current Liabilities	3.493
	Provisions	79.688
Total Current Liabilities		562.681
Net Current Assets		406.384
MISCELLANEOUS EXPENSES		91.340
TOTAL		2194.133

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Export Sale	1489.774	1231.167	596.726
		Domestic Sale	1270.173	1154.882	955.020
		Wind Power Sale	55.309	47.716	49.958
		Other Income	9.742	10.012	8.905
		TOTAL (A)	2824.998	2443.777	1610.609
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	1881.413	1195.297
		Advertising Expenses
		TOTAL (B)	NA	1881.413	1195.297
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		591.557	562.364	415.312
Less	FINANCIAL EXPENSES (D)		NA	125.983	111.228
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	436.381	304.084
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	232.428	155.675
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		NA	203.953	148.409
Less	TAX (H)		NA	24.864	22.797
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		142.247	179.089	125.612
	Earnings / (Loss) Per Share (Rs.)		127.00	159.90	112.15

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.04	7.33	7.80
Net Profit Margin (PBT/Sales)	(%)	NA	8.55	9.56
Return on Total Assets (PBT/Total Assets}	(%)	NA	7.24	5.80
Return on Investment (ROI) (PBT/Networth)		NA	0.23	0.20
Debt Equity Ratio (Total Debt/Networth)		0.97	1.06	1.87
Current Ratio (Current Asset/Current Liability)		0.77	0.77	1.72

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	--
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Long Term Borrowings
Deferred Payment Liabilities	36.723	36.722
Short Term Borrowings
Deposits From Directors	3.761	3.761
Deposits From Others	4.160	1.425
TOTAL	44.644	41.908

PERFORMANCE REVIEW:

The strides the company has been taking since past few years continued during the year as well. The sales of the company increased to Rs. 2760.000 Millions as against Rs. 2386.000 Millions in the previous year thereby registering the growth of 15% over last year’s sales. The company continues to enjoy robust order book position with various orders flowing in from both new as well as old customers with increased schedules. During the year under consideration, the company got export orders for its newly developed engines/gensets from various countries like Nepal, South Africa etc. The company’s engines and gensets are taken well in the market and different renowned customers have shown interest in the company’s products.

The company’s increased sales reflected in higher profit margins as well with EBIDTA rising to Rs. 591.500 Millions from Rs. 562.400 Millions in the previous year thereby witnessing growth of 5.19%. The growth in EBIDTA was achieved despite the inflationary situation that prevailed throughout the financial year under consideration. The Directors take pride in mentioning that the investment the company has made so far in technology is paying off to the company in terms of reduction in Raw Material and tools consumption, saving in power cost and other expenses. This has resulted into the company enjoying synergies of its increased sales realizations in terms of increased profitability.

As communicated in their last year’s report, the company is developing engines of higher capacities (3, 4 and 6 cylinder) with power ranging upto 280 HP and gensets with power rating upto 200 KVA. In the year, the company successfully test fired its 6 cylinder engine and is in the process of obtaining necessary approvals for the same. The directors are confident of commencing the commercial production of 3, 4 and 6 cylinder engines in the last quarter of F.Y. 2012-13.

On management of financial position, the company’s thrust of borrowing conservatively continued during the year as well. As a result of the prudent financial management policy followed by the company, the interest cost for the year has come down to Rs. 123.600 Millions from Rs. 126.000 Millions in the previous year. This reduction in interest cost is despite increased interest rates prevalent throughout the year. Similarly, the term loans outstanding as on 31st March, 2012 were at Rs. 499.000 Millions as against Rs. 759.900 Millions as on 31st March, 2011. The policy followed by the company has given twin benefits to the company in terms of deleveraging the financial position of the company reflecting in comfortable Debt-equity Ratio coupled with interest in interest cost. The company plans to continue the same policy in coming years.

FUTURE BUSINESS OUTLOOK:

In the backdrop of another successful year for the company, it would not be out of place to have a brief outlook of future business in the coming financial year. Company’s sales are on the increase in the F.Y. 2012-13 and the management expects to cross Rs. 3000.000 Millions marks in sales for the said financial year. The sales for the five months ended August, 2012 have already crossed Rs. 1600.000 Millions. The company has been developing new products for customers like Wartsila, Jaguar etc. which will further consolidate its position in the component market.

EXPANSION PROJECT OF THE COMPANY:

Buoyed by the consistent encouraging performance by the company, the company has undertaken expansion programme with a capital outlay of Rs. 550.000 Millions both for Engine components and Engine business. The outlay involves increasing the melting and machining capacity of engine components division, laying down dedicated assembly line for 3, 4 and 6 cylinder engines and setting up of in-house Machineshop at Engine manufacturing Plant. The company has already tied up with banks for the necessary financial assistance. The expansion of Engine Component division is expected to be over in the third quarter of F.Y. 2012-13 whereas expansion of Engine Division is expected to get over in last quarter of the said financial year. The expanded capacity will pave further growth opportunities for the company in the years to come.

THE BUSINESS OUTLOOK FOR THE DIFFERENT DIVISIONS OF COMPANY IS GIVEN AS UNDER:

ENGINE COMPONENT BUSINESS:

In this particular business segment, the company has, over the years, carved a niche for itself as being one of the dependable suppliers for quality components. Their customer portfolio includes almost all reputed OEMs spread across industry verticals ranging from automobiles, power, marine, windmills, railways, tractors etc. both in domestic as well as export markets. Further, with their continuous thrust on quality and strong execution capabilities, they have been able to get repeat orders from their existing customers in addition to getting orders from new customers for value added products.

DOMESTIC BUSINESS:

On domestic front, the macroeconomic picture continues to be robust with the Indian economy growing at around 8% for past several years and expected to repeat the performance in the coming year. With strong domestic demand caused by rising income levels of people, the demand is expected to be robust for coming months. The company is having a very well diversified product portfolio across various industry verticals. Further, since last several years, the company has been investing in new technologies. As a result of the technological developments undertaken, the company has created a niche for itself in the market to become a dependable supplier of quality products at competitive rates. All this has the effect of putting the company on decent growth path. Moreover, the improvements in technology has also resulted in improvement in the yield of castings, import substitution of certain raw materials, process optimization, savings in cost of raw materials, tools, consumables etc. It is because of all these measures taken that the company continues to be on a robust growth path even in challenging macroeconomic situations. With the strong order book and expected order flow in the coming months, the company expects to achieve a domestic sales turnover of around Rs. 1500.000 Millions in F.Y. 2012-13 as against Rs. 1110.000 Millions in F.Y. 2011-12.

EXPORT BUSINESS:

Over the years, the company has been recognized as one of the key supplier for supply of quality castings to various reputed companies in Europe, U.S.A. etc. The company’s export sales have increased significantly in F.Y. 2011-12 to reach Rs. 1489.700 Millions from Rs. 1231.100 Millions in F.Y. 2010-11. Exports continue to be a thrust area for the company in the coming year with several new customers approaching the company to cater to their castings requirements in addition to increased production schedules from its existing customers for existing as well as new product requirements. The company, with its strong technological base has created a niche in export market. Their customers in export market are all 5 star rated customers and with order schedules from them on the increase, the company is seeing a huge order inflow notwithstanding the economic conditions in export economies. Further, the company’s export business is fairly diversified across customers, regions, industries. As such, adverse impact on any particular segment is offset by increase in other segment thereby protecting their export business as a whole. Some of the additional synergies enjoyed by the company on its export front are given below:

- In case of number of customers, they are the sole suppliers for the components they sell to the customers.

- During last 15 years they have been into exports with total export turnover at Rs. 5442.000 Millions over this period. Further, there is not a single default by any of their customers in their payments.

- During last 2-3 years, they are experiencing additional orders and schedules from their existing customers as well as fresh inflow of orders from new customers. An example to quote would be that of Ford Motor Company who has given us orders for providing cylinder liners to their manufacturing plants situated across the globe.

- In many cases, the foreign customers are giving us Infrastructure Development Cost required for manufacture of the components required by them.

- Out of the total exports, about 85% of the business has the provision of Price variation clause whereby any increase in prices of raw materials, power, adverse movement in foreign exchange is automatically passed on to the overseas customers as per the predefined formula.

- Additionally, though the Eurozone is going through a difficult phase at present, there are signs of revival in the US economy. With their sales adequately diversified, they are confident that subdued economies in any economic region would not impact us adversely.

The company expects to achieve an export turnover of around Rs. 1700.000 Millions for the F.Y. 2012-13 as against Rs. 1489.700 Millions for F.Y. 2011-12.

ENGINE AND GENERATING SET BUSINESS:

The company’s state of the art engine and generating set manufacturing plant went on stream last year. The plant has a capacity of manufacturing 6,000 No. of engines p.a. which can be further expanded to 20,000 No.s p.a. with small additional investment. the company will be the first in the country to manufacture CRDI generating set. The company is presently focusing on selling of generating sets captively consuming the engines manufactured in the new plant. Since the demand of power in most of the states in India far exceeding its supply, it gives immense opportunities for the company to cater to this niche segment. Further, with the company’s technologically advanced generating sets giving substantial fuel and space economies, lower emission etc. the company expects to make a strong inroad into the generating set market. The company has opened its regional sales office in different parts of the country like Faizabad, Uttar Pradesh. It has also appointed wide dealer network in Maharashtra, Karnataka, Uttar Pradesh, Haryana etc. and expects to increase it further in the coming days. Further the new regional offices in Kolkata, Chennai are expected to come up in coming year. For the coming financial year, the company has set a modest sales target of Rs. 300.000 Millions for engine/ genset business.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	90092373
Corporate identity number of the company	U27101PN1982PTC026229
Name of the company	COOPER CORPORATION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	L-3, Additional MIDC, Kodoli, Satara-415004, Maharashtra, India
Type of charge	Immovable Property
Particular of charge holder	Corporation Bank, Industrial Finance Branch, 14 Pune Mumbai Road, Wakdewadi, Pune – 411 003, Maharashtra, India Email: cb502@corpbank.co.in
Nature of description of the instrument creating or modifying the charge	Letter of Continuity
Date of instrument Creating the charge	05.12.2012
Amount secured by the charge	Rs.1536.800 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per Sanction Letter Terms of Repayment As per Sanction Letter Margin As per Sanction Letter Extent and Operation of the charge Equitable mortgage by way of deposit of title deeds of immovable properties viz Plot nos K-11/1, K-11/2, K-11/3, L-3, M-60, M-60/1, K-11, J-1 Additional MIDC, Village Kodoli, Satara; Land of Windmill properties at Village Soda, Tehsil Fatehgarh, District Jaisalmer [62.33 hecters] and Village Mada, Tehsil Fatehgarh, District Jaisalmer [116.99 hecters] Others Enhancement of Working Capital limit by Rs.120.000 Millions and Term Loan fresh sanction of Rs.316.400 Millions (2 Term Loans viz, Rs.149.000 Millions and Rs.167.400 Millions). Total credit facilities enhanced to Rs.1536.800 Millions Credit Sanction: CDS/CSI/GP/CAC/2012-13 Dated: 25/08/2012.
Short particulars of the property charged	Equitable mortgage by way of deposit of title deeds of immovable properties viz Plot nos K-11/1, K-11/2, K-11/3, L-3, M-60, M-60/1, K-11, J-1 Additional MIDC, Village Kodoli, Satara; Land of Windmill properties at Village Soda, Tehsil Fatehgarh, District Jaisalmer [62.33 hecters] and Village Mada, Tehsil Fatehgarh, District Jaisalmer [116.99 hecters]
Particulars of the present modification	By present modification, mortgage of immovable properties as per Schedules attached is extended to secure credit facilities aggregating Rs.1536.800 Millions.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computers

· Wind Mill

· Mould, Jigs and Dies

· Laboratory and Fire-Fighting Equipments

· Electric Installation Plant

· Office Equipment

· Air Conditioner

· Furniture and Fixtures

· Motor Vehicle

PRESS RELEASES:

COOPER CORPORATION PRIVATE LIMITED LAUNCHES “ECO PACK” INDIA’S FIRST POWER PACKED, COST EFFICIENT AND SILENT REVOLUTION IN GREEN DIESEL GENERATORS.

28.01.2011

Cooper Corporation, a prominent global OEM supplier engaged in a variety of production processes has launched India’s first power packed, cost efficient and silent revolution in eco friendly diesel generators under the brand name “Cooper Corp’s Eco Pack". Decades of in-house research and strategic alliances with global partners such as Ricardo, UK, have culminated in the launch of this stand-apart genre of power generators that is entirely produced at Cooper Corporation’s new assembly plant located at Satara, Maharashtra.

Commenting on the launch of Cooper Corp's ECOPACK diesel generator, Mr. Farrokh N. Cooper, Chairman and Managing Director said, “The ECOPACK series will set a global platform for Cooper Corporation as this genset enjoys a unique position among other diesel power generators in India. It owes this distinction to several outstanding features and benefits like 15% lower fuel consumption, 25% smaller in size, 40% lighter in weight, 42% saving in maintenance cost and 10 times quieter. The genset is available in power ranging from 10KVA - 200 KVA and is powered by 4-stroke, liquid cooled, Cooper made diesel engines, based on state-of-the-art CRDi technology. Cooper Corp’s Eco Pack could be used for homes, farm houses, bungalows, hotels, call centers, telecom towers. “

Clean and Green Technology - Cooper Corp's ECOPACK series is India’s first Euro IV, US EPA Tier IV Interim and CPCB 2 compliant set of generators. This makes Cooper Corp's ECOPACK the automatic choice for environment-conscious power consumers.

The Silent Revolution - The use of a specially designed CPCB approved acoustic canopy is a result of in-depth R and D, evolved out of several design and prototype tests. With a 7-tank pretreatment and durable powder coating the Cooper Corp's ECOPACK series functions with a commando like efficiency - stealthy, powerful and yet the noise measured is within (75/65) dbA at 1 meter, distance under free field condition.

The Tech Savvy Genset - Cooper Corp's ECOPACK series of Gensets are powered with an advanced ECU and Optimal Remote Control Specially designed ECU module which controls all critical parameters of the engine with optimal remote control facility.

Efficient and Consumer Friendly - Cooper Corp's ECOPACK Gensets are 40% lighter and require 25% less space in comparison to other brands of repute has an unmatched fuel efficiency, coupled with the highest maintenance interval of 500 hours and lube oil consumption of 0.1% makes ECOPACK the most economic brand of generators to operate and enjoys a B10 life of 7000 Hours.

After Sales Service - Cooper Corp's ECOPACK series Gensets comes with the Cooper guarantee of quality hence breakdowns are hardly any. We have nationwide network of service dealers who are well equipped with genuine spare parts stock and ready to provide prompt after sales service. We also invite interested and capable parties to be our authorized sales and service dealer for unrepresented areas.

ABOUT COOPER CORPORATION

The legacy of Cooper Corporation dates back to 1922 when Sir D B Cooper established Cooper Engineering in Satara. Thanks to his astute vision, the historic town of Satara witnessed a new wave of industrialization without losing its rich heritage that finds its roots in ancient times. Cooper Corporation’s ceaseless commitment to quality, service and product innovation has consistently kept pace with the changing market needs worldwide. The company’s rapid strides in the global market bear testimony to this fact. Cooper employs over 2000 people comprising engineers, quality control personnel, workmen and administrative staff recruited from the leading educational and technical institutions following a rigorous induction process that strikes a judicious blend of academic expertise and professional exposure. Over the years, the company has consistently invested in the latest state-of-the-art technology across 75 acres of land in Satara through the engagement of experienced consultants from the world over. The company has set-up its own R and D unit to explore the possibilities of developing new products.

COOPER CORPORATION PRIVATE LIMITED SETS UP A MEGA PROJECT ENGINE PLANT IN SATARA FOR GENERATORS AND AUTOMOBILES.

18.12.2010

Cooper Corporation, a prominent global OEM supplier engaged in a variety of production processes has recently launched and announced the set up of a state-of-the-art engine manufacturing plant with an investment of Rs. 3000.000 Millions at Satara in Maharashtra. Mr. Jayant Patil, Hon. Minister of Rural Development, Maharashtra, in the presence of various dignitaries including Mr. Hassan Mushrif, Hon. Minister of Labour, Maharashtra, Mr. Ramraje Naik Nimbalkar, Hon. Minister of Water Resources, Maharashtra and Mr.Sunil Tatkare, Hon. Minister for Water Resources (excluding Krishna Valley), inaugurated this mega project plant recently. Decades of in-house research and technical collaboration with global partners Ricardo, UK have culminated in the launch of mega project engine plant for generators and automobiles.

The new mega project engine plant has the capacity to manufacture engines for power generators as well as automobiles. Cooper Corporation would immediately roll out their revolutionary power generator sets named “Cooper Eco Pack” from this plant and in due course plans to launch LCV’s. The Government of Maharashtra has conferred the status of "Mega Project" to Cooper Corporation Private Limited new engine plant at Satara, Maharashtra. This status will enable Cooper Corporation to avail various incentives from the Government of Maharashtra in due course of time. This engine plant has a total production capacity of 24000 engines per year.

Farrokh N. Cooper, Chairman and Managing Director highlighted the fact that the company is establishing this unit in Satara itself in order to support the company’s corporate objective of contributing to the balanced growth of the town. Cooper Corporation has invested considerable resources to ensure highest standards in environment management. Farrokh N. Cooper, Chairman and Managing Director stated that “We are very proud of our rich tradition of being innovative and successful in rural Maharashtra and in an industry dominated by large multinational companies. We have always endeavoured to manufacture high quality world class products and to utilize cutting edge technology. Our growing list of satisfied, multinational customers across the globe is a testament to the quality standard of our products and our continuous commitment to our customers”.

The engine is powered by Cooper 1.2L, CRDI engine; it entails an electronic engine management system and is designed in technical collaboration with Ricardo, UK. The engine is certainly the lowest fuel and oil consumption product in its class and is compliant with current and forthcoming emission regulations (Euro IV, US EPA Tier IV interim and CPCB Stage 2)

ABOUT COOPER CORPORATION

Ever since its inception that dates back to 1922, Cooper Corporation has played a pivotal role in the economic and social development of Satara. Due to the contribution of Cooper Corporation, the historic town of Satara has constantly witnessed a new wave of industrialization without losing its rich cultural heritage. Cooper Corporation’s ceaseless commitment to quality, service and product innovation has consistently kept pace with the changing market needs worldwide. The company’s rapid strides in the global market bear testimony to this fact. Cooper employs over 2000 people comprising engineers, quality control personnel, workmen and administrative staff recruited from the leading educational and technical institutions following a rigorous induction process that strikes a judicious blend of academic expertise and professional exposure. Over the years, the company has consistently invested in the latest state-of-the-art technology across 75 acres of land in Satara through the engagement of experienced consultants from the world over. The company has invested in 15 windmills and has set-up its own R and D unit to explore the possibilities of developing new products.

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.58.93
UK Pound	1	Rs.91.80
Euro	1	Rs.78.18

INFORMATION DETAILS

Report Prepared by :

TPT

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	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.