1. Summary Information

		Country	India
Company Name	Yamuna International Merged With Yamuna Industries Limited	Principal Name 1	Mr. Naresh Kumar Mittal
Status	Satisfactory	Principal Name 2	Mr. Sanjay Mittal
		Registration #	55-111054
Street Address	F-572, Sarita Vihar, New Delhi – 110076, India
Established Date	30.05.2001	SIC Code	--
Telephone#	Not Available	Business Style 1	Manufacturer
Fax #	Not Available	Business Style 2	--
Homepage	http://www.yamunagroup.com	Product Name 1	Monafilament Yarn
# of employees	150 (Approximately)	Product Name 2	Kite Flying Yarn
Paid up capital	Rs.80,000,000/-	Product Name 3	Breaches
Shareholders	Directors or relatives of directors- 100%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	12 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (42)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	9,061,000	Current Liabilities	15,089,000
Inventories	73,145,000	Long-term Liabilities	114,080,000
Fixed Assets	229,771,000	Other Liabilities	748,000
Deferred Assets	0,000	Total Liabilities	129,917,000
Invest& other Assets	0,000	Retained Earnings	102,060,000
		Net Worth	182,060,000
Total Assets	311,977,000	Total Liab. & Equity	311,977,000
Total Assets (Previous Year)	118,441,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	231,614,000	Net Profit	6,905,000
Sales(Previous yr)	101,607,000	Net Profit(Prev.yr)	11,742,000

MIRA INFORM REPORT

Report Date :

29.03.2013

IDENTIFICATION DETAILS

Name :	YAMUNA INDUSTRIES LIMITED YAMUNA INTERNATIONAL MERGED WITH YAMUNA INDUSTRIES LIMITED
Registered Office :	F-572, Sarita Vihar, New Delhi – 110076
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	30.05.2001
Com. Reg. No.:	55-111054
Capital Investment / Paid-up Capital :	Rs.80.000 Millions
CIN No.: [Company Identification No.]	U18101DL2001PLC111054
PAN No.: [Permanent Account No.]	AAACY1419N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is engaged in Manufacturing of Monafilament Yarn, Kite Flying Yarn, Breaches etc.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 730000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears some dip in the profitability of the company during current year. However, net worth appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions. Note: As claimed by Mr. Sanjeev (Production Manager) that from the year 1^st April 2012 the subject company i.e. Yamuna International has been merged with “Yamuna Industries Limited” established in the year 2001.

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country’s growth, which has averaged more than 7% per year since 1997. India’s diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India’s output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis – in large part because of strong domestic demand – and growth exceeded 8% year-on-year in real terms. However, India’s economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government’s fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India’s medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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. Sanjeev
Designation :	Production Manager
Contact No.:	91-120-2586311
Date :	26.03.2013

LOCATIONS

Registered Office :	F-572, Sarita Vihar, New Delhi – 110076, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	yiacc@yamunagroup.com sanjay@yamunagroup.com prodmgr@yamunagroup.com
Website :	http://www.yamunagroup.com
Corporate Office/ Factory 1:	B-96, Sector 60, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh, India
Tel. No.:	91-120-2586311/ 2586312
Fax No.:	91-120-2586313
Area :	15000 sq. ft.
Locations :	Owned
Factory 2:	6/C, Hoskote Industrial Area, Chokkahally Village, Bangalore – 562114, Karnataka, India

DIRECTORS

(AS ON 29.09.2012)

Name :

Mr. Naresh Kumar Mittal

Designation :

Managing Director

Address :

F-572, Sarita Vihar, New Delhi – 110076, India

Date of Birth/Age :

11.04.1964

Date of Appointment :

15.01.2013

PAN No.:

ABHPM8211B

DIN No.:

00522294

Other Directorships :

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	U18101DL2001PLC111054	YAMUNA INDUSTRIES LTD	Managing director	15/01/2013	30/05/2001	-	Active	NO
2	U17121KA2009PTC049263	YAMUNA TECHNICAL PRODUCTS PRIVATE LIMITED	Director	02/03/2009	02/03/2009	04/12/2010	Active	NO

Name :

Mr. Sanjay Mittal

Designation :

Director

Address :

F-572, Sarita Vihar, New Delhi – 110076, India

Date of Birth/Age :

23.10.1968

Date of Appointment :

30.05.2001

PAN No.:

ABCPM0580A

DIN No.:

00522362

Other Directorships :

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	U18101DL2001PLC111054	YAMUNA INDUSTRIES LTD	Director	30/05/2001	30/05/2001	-	Active	NO
2	U18204DL2008PTC184644	YAMUNA INTERNATIONAL PRIVATE LIMITED	Director	04/11/2008	04/11/2008	-	Active	NO
3	U17121KA2009PTC049263	YAMUNA TECHNICAL PRODUCTS PRIVATE LIMITED	Director	02/03/2009	02/03/2009	04/12/2010	Active	NO

Name :

Mrs. Deepika Mittal

Designation :

Director

Address :

F-572, Sarita Vihar, New Delhi – 110076, India

Date of Birth/Age :

06.02.1970

Date of Appointment :

30.05.2001

PAN No.:

ABHPM8210A

DIN No.:

00522393

Other Directorships :

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	U18101DL2001PLC111054	YAMUNA INDUSTRIES LTD	Director	30/05/2001	30/05/2001	Active	NO
2	U18204DL2008PTC184644	YAMUNA INTERNATIONAL PRIVATE LIMITED	Director	04/11/2008	04/11/2008	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjeev
Designation :	Production Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2012)

Names of Shareholders	No. of Shares
Naresh Kumar Mittal	7347800
Sanjay Mittal	100
Deepika Mittal	651700
Prveen Mittal	100
Kamal Mittal	100
Kirti Mittal	100
Babita Mittal	100
Total	8000000

(AS ON 30.09.2012)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in Manufacturing of Monafilament Yarn, Kite Flying Yarn, Breaches etc.

Products :

Products Description	Item Code No.
Kite Flying Yarn	56090900

Exports :

Products :

Garments

Countries :

· Europe

· US

· Africa

· Australia

Imports :

Products :

Raw Materials

Countries :

· China

· Japan

· UK

· Korea

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Retailers and End Users

No. of Employees :

150 (Approximately)

Bankers :

· Punjab National Bank

Yamuna Nagar Branch, India

· HDFC Bank, Delhi, India

· State Bank of India

Okhla Industrial Estate, New Delhi - 110020, India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Loans repayable on demand from banks (Loan is secured against hypothecation of stocks and other current assets of M/s Yamuna International, the proprietorship firm taken over by the company and also collaterally secured against the land owned by the brother of proprietor/directors.)	19.297	0.000
Total	19.297	0.000

Banking Relations :	--
Auditors :
Name :	VSVG and Company Chartered Accountant
Address :	4 0 1 , C A Chambers, 18/12, WEA, Karol Bagh, New Delhi - 110005, India
PAN No.:	AAJFV4403D

CAPITAL STRUCTURE

(AS ON 29.09.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

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		80.000	80.000	80.000
2] Share Application Money		0.000	0.000	5.919
3] Reserves & Surplus		102.060	0.000	0.000
4] (Accumulated Losses)		0.000	(34.489)	(46.231)
NETWORTH		182.060	45.511	39.688
LOAN FUNDS
1] Secured Loans		19.297	0.000	79.813
2] Unsecured Loans		94.783	59.319	0.000
TOTAL BORROWING		114.080	59.319	79.813
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		296.140	104.830	119.501
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		229.771	103.265	111.119
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	73.145	11.146	13.103
	Sundry Debtors	4.929	1.319	1.443
	Cash & Bank Balances	2.137	1.162	1.874
	Other Current Assets	1.354	0.957	2.072
	Loans & Advances	0.641	0.592	3.394
Total Current Assets		82.206	15.176	21.886
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	3.144	0.130	1.316
	Other Current Liabilities	11.945	13.060	11.763
	Provisions	0.748	0.421	0.425
Total Current Liabilities		15.837	13.611	13.504
Net Current Assets		66.369	1.565	8.382
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		296.140	104.830	119.501

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	231.614	101.607	63.177
		Other Income	0.072	0.119	0.139
		TOTAL	231.686	101.726	63.316
Less	EXPENSES
		Cost of materials consumed	211.935	88.343
		Purchases of stock-in-trade	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(21.273)	3.350	44.794
		Employee benefit expense	4.538	3.165
		Other expenses	19.931	10.611
		Exceptional Items	0.000	(27.429)
		TOTAL	215.131	78.040	44.794
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		16.555	23.686	18.522
Less	FINANCIAL EXPENSES		0.972	4.055	0.390
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		15.583	19.631	18.132
Less/ Add	DEPRECIATION/ AMORTISATION		8.678	7.889	8.391
	PROFIT BEFORE TAX		6.905	11.742	9.741
Less	TAX		0.000	0.000	0.000
	PROFIT AFTER TAX		6.905	11.742	9.741
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	(46.231)	(55.972)
	BALANCE CARRIED TO THE B/S		NA	(34.489)	(46.231)
	EARNINGS IN FOREIGN CURRENCY		NA	2.297	0.149
	IMPORTS
		Raw Materials, Consumables, Stores & Spares	NA	0.000	5.166
	TOTAL IMPORTS		NA	0.000	5.166
	Earnings Per Share (Rs.)		0.86	1.47	1.22

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.98	11.54	15.38
Net Profit Margin (PBT/Sales)	(%)	2.98	11.56	15.42
Return on Total Assets (PBT/Total Assets}	(%)	2.21	9.91	7.32
Return on Investment (ROI) (PBT/Networth)		0.04	0.26	0.25
Debt Equity Ratio (Total Debt/Networth)		0.63	1.30	2.01
Current Ratio (Current Asset/Current Liability)		5.19	1.11	1.62

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	Yes
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	No
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS

Particulars	31.03.2012	31.03.2011
	(Rs. In Millions)
Loans and advances from directors	94.783	59.319
Total	94.783	59.319

CONTINGENT LIABILITIES NOT ACKNOWLEDGED AS DEBT

Particulars	31.03.2012	31.03.2011
	(Rs. In Millions)
Letter of Credit Outstanding	0.000	0.000
Bank Guarantees	0.927	0.905

FIXED ASSETS:

· Land

· Building

· Factory

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

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.54.39
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.