MIRA INFORM REPORT

Report Date :

14.06.2013

IDENTIFICATION DETAILS

Name :	RAYMOND UCO DENIM PRIVATE LIMITED [w.e.f.20.06.2006]
Formerly Known As :	UCO RAYMOND DENIM PRIVATE LIMITED
Registered Office :	New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	26.05.2006
Com. Reg. No.:	11-162450
Capital Investment / Paid-up Capital :	Rs. 443.344 Millions
CIN No.: [Company Identification No.]	U17115MH2006PTC162450
TAN No.: [Tax Deduction & Collection Account No.]	NPGU01513B
PAN No.: [Permanent Account No.]	AAACU8272H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Denim Fabrics and Garments.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 6310000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a joint venture between “Raymond’s Limited” and “UCO NV, Belgium”. It is an established company having a moderate track record. There appear continuous losses recorded by the company. However, networth of the company seems to be strong. Company has recorded better growth in sales during 2012. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term Loan : (ICRA) BBB-
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk.
Date	January 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 :	New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-40368323/ 40366152/ 22686000/ 40367000
Fax No.:	91-22-25349958/ 22620052/ 25337761
E-Mail :	shripad.deshpande@raymond.in uma.ram@raymond.in
Website :	www.raymondindia.com
Marketing Office :	Jekegram, Pokhran Road No.1, Thane – 400606, Maharashtra, India
Tel. No.:	91-22-40368323/ 40367000/ 61528312
Fax No.:	91-22-25349958/ 25337761
Plant :	Plot No.C-1, MIDC, Lohara, Yavatmal – 445001, Maharashtra, India
Tel. No.:	91-7232-304500/ 304545
Fax No.:	91-7232-249237
Overseas Office :	Located at: ¯ United States of America ¯ Belgium ¯ Romania

DIRECTORS

AS ON 07.09.2012

Name :

Dr. Vijaypat Singhania

Designation :

Director

Address :

J.K. House, 59 A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

04.10.1938

Date of Appointment :

12.06.2007

DIN No.:

00020063

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	U67120MH1945PLC004603	J K INVESTORS(BOMBAY) LIMITED	Director	04/01/1964	04/01/1964	-	Active	NO
2	U99999MH1947PLC005735	J.K. INVESTO TRADE (INDIA) LIMITED	Director	31/03/1964	31/03/1964	-	Active	NO
3	L17117MH1925PLC001208	RAYMOND LIMITED	Director	29/06/1971	29/06/1971	-	Active	NO
4	U51109MH1948PLC006460	RAYMOND APPAREL LIMITED	Director	25/03/1980	25/03/1980	-	Amalgamated	NO
5	U99999MH1964PLC012865	J.K.HELENE CURTIS LIMITED	Director	26/09/1984	26/09/1984	-	Active	NO
6	U24241MH1990PTC055034	SILVER SOAPS PRIVATE LIMITED	Director	13/08/1991	13/08/1991	-	Active	NO
7	U67120MH1990PTC133784	SMART INVESTMENTS PRIVATE LIMITED	Director	21/03/1994	21/03/1994	-	Active	NO
8	U25199MH1996PLC100697	J K ANSELL LIMITED	Director	08/10/1997	08/10/1997	-	Active	NO
9	U92110MH2002PLC136949	RADHA KRSHNA FILMS LIMITED	Director	23/08/2002	23/08/2002	-	Active	NO
10	U17115MH2006PTC162450	RAYMOND UCO DENIM PRIVATE LIMITED	Director	12/06/2007	08/08/2006	-	Active	NO
11	U17120MH2004PTC149277	PLATINUM FASHION APPAREL PRIVATE LIMITED	Director	24/06/2009	14/05/2008	21/01/2010	Active	NO
12	U52320MH2004PTC149312	TRIDENT RETAIL VENTURES PRIVATE LIMITED	Director	22/07/2009	27/10/2008	21/01/2010	Active	NO
13	U18109TN2006PLC061384	RAYMOND APPAREL LIMITED	Director	28/07/2011	27/07/2011	-	Active	NO

Name :

Mr. Gautam Hari Singhania

Designation :

Director

Address :

J.K. House, 59 A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

09.09.1965

Date of Appointment :

12.06.2007

DIN No.:

00020088

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	U99999MH1964PLC012865	J.K.HELENE CURTIS LIMITED	Director	26/12/1989	26/12/1989	-	Active	NO
2	L17117MH1925PLC001208	RAYMOND LIMITED	Managing director	01/07/2009	01/04/1990	-	Active	NO
3	U99999MH1947PLC005735	J.K. INVESTO TRADE (INDIA) LIMITED	Director	20/06/1990	20/06/1990	-	Active	NO
4	U92411MH1991GAP062033	COLOSSEUM SPORTS AND RECREATION INTERNATIONAL	Director	05/09/1991	05/09/1991	-	Strike off	NO
5	U67120MH1945PLC004603	J K INVESTORS(BOMBAY) LIMITED	Director	11/08/1992	11/08/1992	-	Active	NO
6	U24241MH1990PTC055034	SILVER SOAPS PRIVATE LIMITED	Director	16/10/1992	16/10/1992	-	Active	NO
7	U51109MH1948PLC006460	RAYMOND APPAREL LIMITED	Director	30/03/1993	30/03/1993	-	Amalgamated	NO
8	U40100MH1997PLC106133	AQUALINE MARINE INDIA LIMITED	Director	25/02/1997	25/02/1997	-	Strike off	NO
9	U25199MH1996PLC100697	J K ANSELL LIMITED	Director	08/10/1997	08/10/1997	-	Active	NO
10	U72900MH2000PLC127831	SILVER SPARK APPAREL LIMITED	Director	20/07/2000	20/07/2000	-	Active	NO
11	U51102TN1987PLC014467	COLOR PLUS FASHIONS LIMITED	Director	21/02/2003	21/02/2003	-	Active	NO
12	U01100MH2004PTC150094	AVANI AGRICULTURAL FARMS PRIVATE LIMITED	Director	28/04/2005	24/12/2004	-	Active	NO
13	U17120MH2004PLC149276	RAYMOND ZAMBAITI LIMITED	Director	30/03/2005	30/03/2005	-	Active	NO
14	U17115MH2006PTC162450	RAYMOND UCO DENIM PRIVATE LIMITED	Director	12/06/2007	08/08/2006	-	Active	NO
15	U85110MH2007PTC171500	BODY BASIC HEALTH CARE PRIVATE LIMITED	Director	09/06/2007	09/06/2007	-	Active	NO
16	U74990MH2009PTC196992	TILOTTAMA HOSPITALITY & ENTERTAINMENT PRIVATE LIMITED	Director	10/11/2009	10/11/2009	31/03/2010	Active	NO
17	U27104MH1997PLC105955	JK FILES (INDIA) LIMITED	Director	08/06/2010	22/04/2010	-	Active	NO
18	U92412MH2010PTC202465	SUPER CAR CLUB OF INDIA PRIVATE LIMITED	Director	27/04/2010	27/04/2010	-	Active	NO
19	U99999MH1986PLC040885	RING PLUS AQUA LIMITED	Director	03/06/2011	11/08/2010	-	Active	NO
20	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	14/12/2010	14/12/2010	26/09/2011	Active	NO
21	U18100PN2004PLC140524	CELEBRATIONS APPAREL LIMITED	Director	31/05/2011	20/04/2011	-	Active	NO
22	U18109TN2006PLC061384	RAYMOND APPAREL LIMITED	Director	28/07/2011	27/07/2011	-	Active	NO

Name :

Mr. Pradeep Kumar Bhandari

Designation :

Director

Address :

Bunglow No.36, Neelkanth Woods Enclave B, Mullahbaug, Tikuji – Ni – Wadi, Thane (West) - 400610, Maharashtra, India

Date of Birth/Age :

15.08.1957

Date of Appointment :

12.06.2007

DIN No.:

00021923

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	U67120MH1990PTC133784	SMART INVESTMENTS PRIVATE LIMITED	Director	14/08/1997	14/08/1997	-	Active	NO
2	U67120MH1945PLC004603	J K INVESTORS(BOMBAY) LIMITED	Director	22/08/1997	22/08/1997	-	Active	NO
3	U67120MH1984PLC032565	TIGER TRAVELS AND TOURS LIMITED	Director	29/08/1997	29/08/1997	-	Active	NO
4	U17110MH1995PLC085884	RAYMOND CALITRI DENIM LIMITED	Director	23/10/1997	23/10/1997	-	Amalgamated	NO
5	U25199MH1996PLC100697	J K ANSELL LIMITED	Director	04/06/1998	04/06/1998	13/12/2011	Active	NO
6	U51109MH1948PLC006460	RAYMOND APPAREL LIMITED	Director	19/06/1998	19/06/1998	-	Amalgamated	NO
7	U72900MH2000PLC127831	SILVER SPARK APPAREL LIMITED	Director	20/07/2000	20/07/2000	-	Active	NO
8	U67120MH1983PLC031734	PASHMINA HOLDINGS LIMITED	Director	15/06/2001	15/06/2001	-	Active	NO
9	L65990MH1974PLC017304	POLAR INVESTMENTS LIMITED	Director	27/07/2001	27/07/2001	-	Active	NO
10	L67120MH1976PLC018836	PEOPLE'S INVESTMENT LIMITED	Director	27/07/2001	27/07/2001	-	Active	NO
11	U92110MH2002PLC136949	RADHA KRSHNA FILMS LIMITED	Director	23/08/2002	23/08/2002	-	Active	NO
12	U51102TN1987PLC014467	COLOR PLUS FASHIONS LIMITED	Director	21/02/2003	21/02/2003	-	Active	NO
13	L17117MH1925PLC001208	RAYMOND LIMITED	Director	23/04/2008	24/04/2003	-	Active	NO
14	U17120MH2004PLC149276	RAYMOND ZAMBAITI LIMITED	Director	30/03/2005	30/03/2005	-	Active	NO
15	U17115MH2006PTC162450	RAYMOND UCO DENIM PRIVATE LIMITED	Director	12/06/2007	08/08/2006	-	Active	NO
16	U74140MH2008PTC179973	BLUEOCEAN CAPITAL AND ADVISORY SERVICES PRIVATE LIMITED	Director	11/03/2008	11/03/2008	-	Active	NO
17	U24241MH1990PTC055034	SILVER SOAPS PRIVATE LIMITED	Director	09/06/2009	22/04/2009	-	Active	NO
18	U65999MH2009PTC197427	GOMUKHI INDUS CAPITAL ADVISORY PRIVATE LIMITED	Managing director	01/04/2010	30/11/2009	-	Active	NO
19	U65923MH2009PTC198198	UNION KBC TRUSTEE COMPANY PRIVATE LIMITED	Director	25/05/2011	03/09/2010	-	Active	NO
20	L24302RJ1976PLC001684	BANSWARA SYNTEX LTD	Director	05/08/2011	06/02/2011	-	Active	NO

Name :

Philippe Mtgmaa Vlerick

Designation :

Director

Address :

Ronse Vaalstaraat 2, Kortrijk, Belgium – 8510

Date of Birth/Age :

08.06.1955

Date of Appointment :

12.06.2007

DIN No.:

01558258

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	U17115MH2006PTC162450	RAYMOND UCO DENIM PRIVATE LIMITED	Director	12/06/2007	08/08/2006	Active	NO

Name :

Alain JC Vermeersch

Designation :

Director

Address :

Lagen Heirweg – 3, Laarne, Belgium – 9270

Date of Birth/Age :

06.08.1956

Date of Appointment :

12.06.2007

DIN No.:

01559119

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	U17115MH2006PTC162450	RAYMOND UCO DENIM PRIVATE LIMITED	Director	12/06/2007	10/07/2006	Active	NO

Name :

Mr. Prakash Sunder Advani

Designation :

Additional director

Address :

36, Langestraat Kampenhout, Belgium 1910

Date of Birth/Age :

16.12.1976

Date of Appointment :

07.09.2012

DIN No.:

05322952

KEY EXECUTIVES

Name :	Uma Ramasubramaniam
Designation :	Secretary
Address :	C-1, 801 Sunflower, Runwal Garden City, Thane [West], Thane - 400608, Maharashtra, India
Date of Birth/Age :	14.11.1980
Date of Appointment :	09.02.2009
PAN No.:	AJBPR6834P
Name :	Mr. S.K. Gupta
Designation :	Group Chief Executive Officer
Date of Birth/Age :	61 Years
Qualification :	B. Sc and MBA
Experience :	40 Years

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 07.09.2012

Names of Equity Shareholders	No. of Shares
Raymond Limited, India	12157179
UCO NV Belgium, Belgium	12167179
Raymond Limited, India Jointly with H Sunder	5000
Raymond Limited, India Jointly with Narayanan Ramalingam	5000
Total	24334358

Names of Preferences Shareholders	No. of Shares
Raymond Limited, India	10000000
UCO NV Belgium, Belgium	10000000
Total	20000000

AS ON 07.09.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Denim Fabrics and Garments.

Products/ Services :

ITC Code No.	Product Descriptions
62034200	Cotton Trousers
52051110	Cotton Yarn
52094200	Denim Fabric

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Registered Capacity (*)	Installed Capacity (**)
Denim Fabric	Sq. Meters	67.20 Million	67.20 Million
Yarn	Kgs.	22.26 Million	18.80 Million
Denim Garments	Lac Nos.	#	#

(*) As per Industrial Entrepreneurs Memorandum

(**) As certified by the Management and being a technical matter, accepted by the Auditors as correct.

# In terms of the Conducting Agreement dated 8^th August, 2006, Everblue Apparel Limited at Bangalore with installed capacity of 30 lacs garments per annum exclusively manufactures Jeans garment for the Company.

Particulars	Unit	Actual Production
Denim Fabric	Lac Linear Meters	351.98
Yarn	Lac Kgs.	150.63
Denim Garments	Lac Kgs.	15.89

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

¯ State Bank of India, CAG Branch, 3rd Floor, Neville House, 23, J.N Heredia Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India

¯ HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
LONG-TERM BORROWINGS
Debentures	307.500	356.946
Term loans from banks	414.029	585.150
Loans repayable on demand	294.250	294.250
SHORT-TERM BORROWINGS
Term loans from banks	105.295	81.263
Working capital loans from banks	1378.026	1175.402
Total	2499.100	2493.011

Banking Relations :	--
Auditors :
Name :	Dalal and Shah Chartered Accountants
Address :	252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India
Tel. No.:	91-22-66691000/ 66547800/ 66547801
Fax No.:	91-22-66547801
Income-tax PAN of auditor or auditor's firm :	AAAFD0907D
Subsidiary Company :	¯ UCO Raymond Denim Holding NV ¯ UCO Fabrics Inc
Joint Venture :	¯ Raymond Limited [L17117MH1925PLC001208] ¯ UCO NV ¯ UCO Tesatura SRL
Related Parties :	¯ Color Plus Fashions Limited [U51102TN1987PLC014467] ¯ Everblue Apparel Limited [U72900MH2000PLC124912] ¯ J.K. Helene Curtis Limited [U99999MH1964PLC012865] ¯ Raymond Apparel Limited [U18109TN2006PLC061384] ¯ Raymond Zambaiti Limited [U17120MH2004PLC149276]

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
25,000,000	Equity Shares	Rs. 10/- each	Rs. 250.000 Millions
20,000,000	Preference Shares	Rs. 10/- each	Rs. 200.000 Millions
	Total		Rs. 450.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24,334,358	Equity Shares	Rs. 10/- each	Rs. 243.344 Millions
20,000,000	Preference Shares	Rs. 10/- each	Rs. 200.000 Millions
	Total		Rs. 443.344 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	443.344	443.344
(b) Reserves & Surplus	1133.687	1290.015
(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	1015.779	1236.346
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.100	0.100
(d) long-term provisions	0.415	0.362
(4) Current liabilities
(a) Short term borrowings	1483.321	1256.665
(b) Trade payables	508.832	937.316
(c) Other current liabilities	461.794	363.333
(d) Short-term provisions	27.661	20.873
TOTAL	5074.933	5548.354
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2283.960	2435.128
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	46.175	20.299
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	285.407
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	102.830	59.720
(e) Other Non-current assets	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1084.260	1412.373
(c) Trade receivables	1140.966	862.310
(d) Cash and cash equivalents	28.960	77.335
(e) Short-term loans and advances	268.956	281.602
(f) Other current assets	118.826	114.180
TOTAL	5074.933	5548.354

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		412.885
2] Share Application Money		0.000
3] Reserves & Surplus		1032.177
4] (Accumulated Losses)		0.000
NETWORTH		1445.062
LOAN FUNDS
1] Secured Loans		2363.638
2] Unsecured Loans		651.195
TOTAL BORROWING		3014.833
DEFERRED TAX LIABILITIES		0.000
TOTAL		4459.895
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2749.438
Capital work-in-progress		23.803
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	952.931
	Sundry Debtors	727.349
	Cash & Bank Balances	207.264
	Other Current Assets	163.607
	Loans & Advances	316.258
Total Current Assets		2367.409
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	595.716
	Other Current Liabilities	42.113
	Provisions	42.926
Total Current Liabilities		680.755
Net Current Assets		1686.654
MISCELLANEOUS EXPENSES		0.000
TOTAL		4459.895

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	7401.800	5960.600	4683.021
		Other Income	NA	NA	38.507
		TOTAL	NA	NA	4721.528
Less	EXPENSES
		Material Costs			1999.697
		Manufacturing Costs			1398.757
		Increase/(Decrease) in Finished Goods			21.636
		Employees Costs			356.732
		Administrative, Selling and General Expenses			404.918
		Gain / Loss on Foreign Exchange Variation			(30.228)
		TOTAL	NA	NA	4151.512
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION				570.016
Less	FINANCIAL EXPENSES				228.541
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION				341.475
Less/ Add	DEPRECIATION/ AMORTISATION				384.190
	PROFIT BEFORE EXCEPATIONAL ITEMS		140.200	61.800	(42.715)
	Exceptional items		NA	NA	72.273
	PROFIT/ (LOSS) BEFORE TAX		NA	NA	29.558
Less	TAX		NA	NA	0.350
	PROFIT/ (LOSS) AFTER TAX		NA	NA	28.208
ADD	PRIOR PERIOD ADJUSTMENTS		NA	NA	(0.240)
ADD	TAX IN RESPECT OF EARLIER YEARS		NA	NA	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	(4385.539)	(4413.507)
	BALANCE CARRIED TO THE B/S		NA	NA	(4385.539)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	NA	2269.189
	IMPORTS
		Raw Materials			427.810
		Stores & Spares			189.441
		Capital Goods			6.942
	TOTAL IMPORTS		NA	NA	624.193
	Earnings/ (Loss) Per Share (Rs.)		NA	NA	1.36

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	0.59
Net Profit Margin (PBT/Sales)	(%)	NA	NA	0.63
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	0.57
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.02
Debt Equity Ratio (Total Debt/Networth)		1.58	1.44	2.09
Current Ratio (Current Asset/Current Liability)		1.06	1.07	3.48

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

OPERATIONAL PERFORMANCE:

FABRIC OPERATION:

The Fabric Division has a manufacturing facility at Yavatmal for production of differentiated varieties of denim fabric. During the reporting period the Division has successfully done the de-bottlenecking of its manufacturing operations leading to increase in fabric production by 12 lac meters and yarn production by 360 tons.

The year has been good for the Denim Industry and witnessed buoyancy accompanied by better price realization. The company focused on improving high margin business and strategically exited unremunerative price points. The measures of de-bottlenecking the manufacturing process also help improve productivity, reduce rejections and improve efficiencies. The Division has achieved improved results inspite of facing steep reduction in export incentives from November’11.

GARMENTING OPERATIONS:

Garmenting Division operates the garmenting facility of Everblue Apparels Limited situated at Doddaballapur, near Bangalore under a Conducting Agreement.

During the period, the Division has produced 14.91 Lac pieces of jeans wear and has sold 15.63 Lac pieces including export of 5.30 Lac pieces despite lower than expected off-take of garments by brands. Orders have been received from reputed international brands. With international and domestic brands preferring an integrated solution and a dedicated facility for their apparel requirements, there is a good potential for our garmenting operations going forward.

AWARDS

The Company has been awarded the “Silver Trophy” and a “Citation” from 'Texprocil' for being the “Second highest top exporter” in Fabric Category (Denim) for the Companies export performance amounting to Rs. 2275.100 Millions during the financial year 2010 - 2011. Company has been bagging this award for the last 5 consecutive years. Further, the Company has been ranked third amongst the Textile Mills located in the State of Maharashtra and have received a award from Maharashtra Energy Development Agency, recognizing the Company’s efforts in energy conservation.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U17115MH2006PTC162450
Name of the company	RAYMOND UCO DENIM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai – 400001, Maharashtra, India Email: uma.ram@raymond.in
This form is for	Modification of charge
Charge identification number of the modified	10032727
Type of charge	Immovable property
Particular of charge holder	State Bank of India, CAG Branch, 3rd Floor, Neville House, 23, J.N Heredia Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India Email: Manohar.kesarkar@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Modification of pari passu charge by part satisfaction.
Date of instrument Creating the charge	28.03.2013
Amount secured by the charge	Rs. 1353.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest SBI TERM LOAN of Rs. 972.850 Millions @ Base Rate+ 3.10 % p.a. (Presently 12.80% p.a.) Terms of Repayment Term Loan of Rs. 972.850 Millions was payable in 14 half yearly instalment. First 8 Instalment was of Rs. 50.000 Millions commencing from 29.06.2006 and Balance was of Rs. 100.000 Millions. Final Instalment was at Rs. 72.850 Millions paid on 28.03.13. Margin 20% Extent and Operation of the charge Modification of existing first pari passu charge on the immovable properties by deposit of title deeds.
Short particulars of the property charged	Mortgage on the immovable properties comprising of land and building situated at Plot No. C-1 and C-1 (Part) and Plot No. C-2 in the Yeotmal Industrial Area, within the village limits of Lohara and outside the limits of Yeotmal Municipal Council Taluka.
Date of Modification	22.03.2012
Particulars of the present modification	Modification of pari passu charge by part satisfaction

FIXED ASSETS:

¯ Land

¯ Buildings

¯ Factory building

¯ Other building

¯ Plant and equipment

¯ Furniture and fixtures

¯ Vehicles

¯ Motor vehicles

¯ Office equipment

¯ Other equipments

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. 58.41
UK Pound	1	Rs. 91.62
Euro	1	Rs. 78.12

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.