MIRA INFORM REPORT

Report Date :

07.05.2013

IDENTIFICATION DETAILS

Name :	DHANLAXMI FEBRICS LIMITED
Registered Office :	Bhopar Village, Manpada Road, Dombivali East, Thane – 421 204,Maharashtra,
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	01.10.1992
Com. Reg. No.:	11-68861
Capital Investment / Paid-up Capital :	Rs.85.811 Millions
CIN No.: [Company Identification No.]	L17120MH1992PLC068861
TAN No.: [Tax Deduction & Collection Account No.]	PNED03253F MUMD03997A
PAN No.: [Permanent Account No.]	AABCD1592N
Legal Form :	A Public Limited Liability Company. The Company’s Shares are listed on the Stock Exchanges
Line of Business :	Textile processing and power generation
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 1370000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There appears some dip in turnover and sharp dip in the profitability of the company during 2012. However, Networth of the company is 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.

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

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 and Factory 1 :	Bhopar Village, Manpada Road, Dombivali East, Thane – 421 204, Maharashtra, India
Tel. No.:	91-251-2870589/90/91/92
Fax No.:	91-251-2870545S
E-Mail :	info@dfi.net.in
Website :	www.dfl.net.in
Administrative Office :	285, Princes Street, Dhanlaxmi House, 2^nd Floor, Mumbai – 400 002, Maharashtra, India
Tel. No.:	91-22-22008176/77/22089558
Fax No.:	91-22-22089558
Factory 2 :	Ichalkaranji, Maharashtra, India

DIRECTORS

As on 11.08.2012

Name :

Mr. Vinod Sohanlal Jhawar

Designation :

Managing Director

Address :

B – 803, Lake Castle Society, Hiranandani Garens, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

01.10.1992

Date of Appointment :

01.10.1992

DIN No.:

00002903

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	U18101MH1991PTC062950	DHANLAXMI EXPORT FABRIC PRIVATE LIMITED	Director	14/08/1991	14/08/1991	-	Active	NO
2	U24100MH1970PTC014919	WESTERN CHLORIDES AND CHEMICALS PRIVATE LIMITED	Director	01/04/1992	01/04/1992	-	Active	NO
3	L17120MH1992PLC068861	DHANLAXMI FABRICS LIMITED	Managing director	01/11/2012	01/10/1992	-	Active	NO
4	U99999MH1994PTC079452	RAMAVTAR FINANCE PRIVATE LIMITED	Director	06/07/1994	06/07/1994	-	Active	NO
5	U65990MH1994PTC079453	JHAWAR TRADE AND INVESTMENTS PRIVATE LIMITED	Director	06/07/1994	06/07/1994	-	Active	NO
6	U65920MH1994PLC079915	ANISHRI FINANCE LIMITED	Director	25/02/1999	25/02/1999	14/05/2010	Active	NO
7	U67120MH1995PTC084810	SEMAI INVESTMENTS PRIVATE LIMITED	Director	17/03/1999	17/03/1999	-	Active	NO
8	U67120MH2000PTC125421	V R M SHARE BROKING PRIVATE LIMITED	Director	29/03/2000	29/03/2000	-	Active	NO
9	U17120MH1999PTC120739	DHANESH FABRICS PRIVATE LIMITED	Director	29/09/2007	12/02/2007	-	Active	NO
10	U74140WB1992PTC055805	PROMTECH IMPEX PVT. LTD.	Director	12/03/2008	12/03/2008	-	Active	NO
11	U51109MH2008PTC186205	YUKTI MERCANTILE PRIVATE LIMITED	Director	16/09/2008	16/09/2008	-	Active	NO
12	U51109MH2008PTC186271	DFL FABRICS PRIVATE LIMITED	Director	19/09/2009	17/10/2008	-	Active	NO
13	U18204MH2010PTC204605	PIYUSH APPAREL PRIVATE LIMITED	Director	21/06/2010	21/06/2010	-	Active	NO

Name :

Mr. Ramatur Sohanlal Jhawar

Designation :

Director

Address :

098/909, Jivan Vihar, 5 Manav Mandir Road, Malabar Hill, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

03.11.1956

Date of Appointment :

01.10.1992

DIN No.:

00002907

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	L51100MH1987PLC042280	DHANLAXMI COTEX LIMITED	Managing director	01/08/2009	19/01/1987	-	Active	NO
2	U17100MH1987PTC052567	SOHANLAL EXPORT FABRICS PVT LTD	Director	12/07/1987	12/07/1987	-	Active	NO
3	U18101MH1991PTC062950	DHANLAXMI EXPORT FABRIC PRIVATE LIMITED	Director	14/08/1991	14/08/1991	-	Active	NO
4	U24100MH1970PTC014919	WESTERN CHLORIDES AND CHEMICALS PRIVATE LIMITED	Director	01/04/1992	01/04/1992	-	Active	NO
5	L17120MH1992PLC068861	DHANLAXMI FABRICS LIMITED	Director	01/10/1992	01/10/1992	-	Active	NO
6	U65990MH1994PTC079453	JHAWAR TRADE AND INVESTMENTS PRIVATE LIMITED	Director	06/07/1994	06/07/1994	-	Active	NO
7	U99999MH1994PTC079452	RAMAVTAR FINANCE PRIVATE LIMITED	Director	06/07/1994	06/07/1994	-	Active	NO
8	U67120MH1995PTC084810	SEMAI INVESTMENTS PRIVATE LIMITED	Director	17/03/1999	17/03/1999	-	Active	NO
9	U67120MH1999PTC122709	MR SHARE BROKING PRIVATE LIMITED	Director	19/11/1999	19/11/1999	-	Active	NO
10	U67120MH2000PTC125421	V R M SHARE BROKING PRIVATE LIMITED	Director	29/03/2000	29/03/2000	-	Active	NO
11	U74140WB1992PTC055805	PROMTECH IMPEX PVT. LTD.	Director	28/07/2003	28/07/2003	-	Active	NO
12	U51311MH1987PTC044131	JHAWAR COMMODITIES PRIVATE LIMITED	Director	05/01/2006	05/01/2006	-	Active	NO
13	U51109MH2008PTC186271	DFL FABRICS PRIVATE LIMITED	Director	19/09/2009	17/10/2008	-	Active	NO
14	U51900WB2006PTC108096	JASODA TRACON PVT LTD	Director	01/10/2011	01/10/2011	-	Active	NO

Name :

Mr. Mahesh Sohanlal Jhawar

Designation :

Director

Address :

205, Alpana, 60 Peddar Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

26.04.1961

Date of Appointment :

01.10.1992

DIN No.:

00002908

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	L51100MH1987PLC042280	DHANLAXMI COTEX LIMITED	Whole-time director	01/08/2009	19/01/1987	-	Active	NO
2	U17100MH1987PTC052567	SOHANLAL EXPORT FABRICS PVT LTD	Director	12/07/1987	12/07/1987	-	Active	NO
3	U18101MH1991PTC062950	DHANLAXMI EXPORT FABRIC PRIVATE LIMITED	Director	14/08/1991	14/08/1991	-	Active	NO
4	U24100MH1970PTC014919	WESTERN CHLORIDES AND CHEMICALS PRIVATE LIMITED	Director	01/04/1992	01/04/1992	-	Active	NO
5	L17120MH1992PLC068861	DHANLAXMI FABRICS LIMITED	Director	01/10/1992	01/10/1992	-	Active	NO
6	U65990MH1994PTC079453	JHAWAR TRADE AND INVESTMENTS PRIVATE LIMITED	Director	06/07/1994	06/07/1994	-	Active	NO
7	U99999MH1994PTC079452	RAMAVTAR FINANCE PRIVATE LIMITED	Director	06/07/1994	06/07/1994	-	Active	NO
8	U67120MH1995PTC084810	SEMAI INVESTMENTS PRIVATE LIMITED	Director	17/03/1999	17/03/1999	-	Active	NO
9	U67120MH1999PTC122709	MR SHARE BROKING PRIVATE LIMITED	Director	19/11/1999	19/11/1999	-	Active	NO
10	U67120MH2000PTC125421	V R M SHARE BROKING PRIVATE LIMITED	Director	29/03/2000	29/03/2000	-	Active	NO
11	U17120MH1999PTC120739	DHANESH FABRICS PRIVATE LIMITED	Director	29/09/2007	12/02/2007	-	Active	NO
12	U51109MH2008PTC186271	DFL FABRICS PRIVATE LIMITED	Director	19/09/2009	17/10/2008	-	Active	NO

Name :

Mr. Narayanprasad Sharma

Designation :

Director

Address :

A1, 602, Kunal icon, Sadagar Pimple, Aundh, Pune – 411 027, Maharashtra, India

Date of Birth/Age :

15.09.1941

Date of Appointment :

23.03.2003

DIN No.:

00003178

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	L17120MH1992PLC068861	DHANLAXMI FABRICS LIMITED	Director	23/03/2003	23/03/2003	-	Active	NO

Name :

Mr. Durgesh Kabra

Designation :

Director

Address :

C/9, Sanjay Apatrtment, SVP Road, Borivali West, Mumbai – 700 092, Maharashtra, India

Date of Birth/Age :

04.06.2005

Date of Appointment :

28.05.2005

DIN No.:

00017670

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	U65990MH1996PTC097989	ASHIRWAD LEASING AND FINVEST PRIVATE LIMITED.	Director	16/04/1998	16/04/1998	14/06/2008	Active	NO
2	L17120MH1992PLC068861	DHANLAXMI FABRICS LIMITED	Director	28/05/2005	28/05/2005	-	Active	NO
3	U74140MH2008PTC185626	DMKH CONSULTING PRIVATE LIMITED	Director	08/08/2008	08/08/2008	-	Active	NO
4	L51900MH1981PLC024341	RAVINAY TRADING CO LTD	Director	30/09/2011	12/08/2011	-	Active	NO

Name :

Mr. Mihir Mehta

Designation :

Director

Address :

7^th Floor, Gangala Heri, Banganga Road, Walkeshwar, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

07.08.1959

Date of Appointment :

28.07.2006

DIN No.:

00219614

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	U17100MH1939NPL002965	SYNTHETIC AND ART SILK MILLS ASSOCIATION LIMITED	Director	03/03/1979	03/03/1979	-	Active	NO
2	U17100MH1937PTC002721	NEW MAHALAXMI SILK MILLS PRIVATE LIMITED	Director	03/03/1979	03/03/1979	-	Active	NO
3	U51900MH1965PLC013114	RAYEX (INDIA) LIMITED	Director	27/09/2005	27/09/2005	-	Active	NO
4	L17120MH1992PLC068861	DHANLAXMI FABRICS LIMITED	Director	23/09/2006	28/07/2006	-	Active	NO
5	U17100MH1956PLC009890	THE RAYON MILLS COMMERCIAL CORPORATION LIMITED	Director	30/09/2009	30/09/2009	-	Active	NO
6	U17297WB1986PLC040991	GINZA INDUSTRIES LTD.	Director	02/09/2011	27/07/2011	-	Active	NO
7	U80300MH1928GAP001375	VANITA VISHRAM	Director	26/09/2011	26/09/2011	-	Active	NO

SHAREHOLDING PATTERN

As on 31.12.2012

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	499200	5.82
Bodies Corporate	2442525	28.46
Any Others (Specify)	1280000	14.92
Group Companies	1280000	14.92
Sub Total	4221725	49.20
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	4221725	49.20
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	300000	3.50
Sub Total	300000	3.50
(2) Non-Institutions
Bodies Corporate	1761710	20.53
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 millions	412192	4.80
Individual shareholders holding nominal share capital in excess of Rs.0.100 millions	1584791	18.47
Any Others (Specify)	300682	3.50
Non Resident Indians	868	0.01
Trusts	96700	1.13
Clearing Members	203114	2.37
Sub Total	4059375	47.31
Total Public shareholding (B)	4359375	50.80
Total (A)+(B)	8581100	100.00
© Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
Total (A)+(B)+(C)	8581100	0.00

BUSINESS DETAILS

Line of Business :

Textile processing and power generation

PRODUCTION STATUS AS ON 31.03.2011

Processing Capacity

Particulars	Unit	(in Millions)
Fabric	mtrs	3.000
Yarn	mtrs	0.680

Actual production

Particulars	Unit	(in Millions)
Cotton and MM	Mtrs	20.914
Hosiery Fabrics	Mtrs	0.006
Yarn	Kgs	0.569

GENERAL INFORMATION

Customers :

• Choudhary Garments
• Sonal Garments
• Renfro India Private Limited
• Hytone
• Texport Garments
• Rapier Machine Manufacturer
• Gini Silk Mills
• Mudra Synthetics

No. of Employees :

Not Available

Bankers :

• ING Vysya Bank Limited

Mittal Towers A – wing, Ground Floor 210, Narimal Point, Mumbai – 400 021, Maharashtra, India

• ABN Amro Bank NV

74, Sakhar Bhavan, 7^th Floor, Narimam Point, Mumbai – 400 021, Maharashtra, India

Facilities :

Secured Loans :	As on 31.03.2012 Rs. in Millions	As on 31.03.2011 Rs. in Millions
Term Loan
From Bank	55.811	67.042
From Member	0.000	19.115
Working Capital loan From Bank	0.000	40.000
Total	55.811	126.157

1. First charge over the entire fixed assets of the company both present and future created out of the term loan. Personal guarantee of three director and corporate guarantee of M/s.Western chlorides and chemicals Private Limited subsidiary of the company.

2. Secured by way of Hypothecation of stocks and book Debts and Personal guarantee of three Directors and Corporate Guarantee of M/s. Western Chlorides & Chemicals Private Limited subsidiary of the company.

Banking Relations :	--
Auditors :
Name :	S.G. Karba and Company Chartered Accountant
Address :	Jwavell House, 1^st Floor, 1^st Dhobi Talao Lane, Marine Lines, Mumbai, Maharashtra, India
PAN No.:	AASPK2111F
Associates: ( 2011)	Dhanlaxmi Cotex Limited. Sohanlal Export Fabrics Private Limited. Sohanlal Jhawar Family Trust. Dhanlaxmi Export Fabrics Private Limited. Promtech Impex Private Limited. MR Share Broking Private Limited. VRM Share Broking Private Limited.
Wholly owned Subsidiary : ( 2011)	Western Chlorides and Chemicals Private Limited CIN No. U24100MH1970PTC014919 Dhanesh Fabrics Private Limited CIN No. U17120MH1999PTC12073 DFL Fabrics Private Limited CIN No. U51109MH2008PTC186271

CAPITAL STRUCTURE

As on 11.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs. 10/- Each	Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8581100	Equity Shares	Rs. 10/- Each	Rs. 85.811 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		85.811	85.811	85.811
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		257.249	255.661	241.367
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		343.060	341.472	327.178
LOAN FUNDS
1] Secured Loans		55.811	126.157	126.279
2] Unsecured Loans		3.340	3.340	3.340
TOTAL BORROWING		59.151	129.497	129.619
DEFERRED TAX LIABILITIES		60.395	67.622	73.969
TOTAL		462.606	538.591	530.766
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		300.677	322.298	322.668
Capital work-in-progress		0.000	0.000	74.344
INVESTMENT		6.708	6.708	6.708
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	26.388	35.197	41.736
	Sundry Debtors	106.084	117.019	128.263
	Cash & Bank Balances	23.474	2.125	2.033
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	62.143	108.977	59.267
Total Current Assets		218.089	263.318	231.299
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	34.111	33.865	0.000
	Other Current Liabilities	5.428	5.488	88.272
	Provisions	23.329	14.380	15.980
Total Current Liabilities		62.868	53.733	104.253
Net Current Assets		155.221	209.585	127.046
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		462.606	538.591	530.766

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	452.222	510.377	484.770
		Other Income	2.541	14.560	0.000
		TOTAL (A)	454.763	524.937	484.770
Less	EXPENSES
		Cost of material consumed	141.316	133.247
		Purchase of trade goods	130.274	205.048
		Change In inventories if finished goods, work-in-progress and traded goods	10.578	8.042
		Employee benefit expenses	40.730	32.878
		Other expenses	74.525	68.358
	TOTAL (B)		397.423	447.573	420.282
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		57.340	77.364	64.418
Less	FINANCIAL EXPENSES (D)		7.515	10.856	11.036
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		49.825	66.508	53.382
Less/ Add	DEPRECIATION/ AMORTISATION (F)		47.806	46.657	47.975
	PROFIT BEFORE TAX (E-F) (G)		2.019	19.851	5.407
Less	TAX (I)		0.431	5.557	0.835
	PROFIT AFTER TAX (G-I) (J)		1.588	14.294	4.572
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		155.878	141.584	135.191
	BALANCE CARRIED TO THE B/S		157.466	155.878	141.584
	Earnings Per Share (Rs.)		0.19	1.67	0.74

QUARTERLY RESULTS

PARTICULARS	30.06.2012 (Unaudited)	30.09.2012 (Unaudited)	31.12.2012 (Unaudited)
	1^st Quarter	2nd Quarter	3rd Quarter
Net sales	126.200	154.800	171.400
Total Expenditure	110.800	142.700	147.400
Profit before interest, depreciation and tax (Excl OI )	15.400	12.100	24.000
Other Income	3.100	1.200	1.200
Operating profit	18.500	13.200	25.100
Interest	2.000	1.900	1.500
Exceptional Items	0.000	0.000	0.000
Profit before depreciation and tax	16.500	11.300	23.600
Depreciation	12.000	12.000	12.000
Profit before tax	4.500	(0.600)	11.700
Tax	0.000	0.000	0.000
Provision and contingencies	0.000	0.000	0.000
Profit after tax	4.500	(0.600)	11.700
Extraordinary items	0.000	0.000	0.000
Prior period expenses	0.000	0.000	0.000
Other adjustments	0.000	0.000	0.000
Net Profit	4.500	(0.600)	11.700

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.35	2.72	0.94
Net Profit Margin (PBT/Sales)	(%)	0.44	3.78	0.12
Return on Total Assets (PBT/Total Assets}	(%)	0.39	3.39	0.98
Return on Investment (ROI) (PBT/Networth)		0.006	0.058	0.17
Debt Equity Ratio (Total Debt /Networth)		0.17	0.38	0.40
Current Ratio (Current Asset/Current Liability)		3.47	4.90	2.22

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	No
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	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------------
22]	Litigations that the firm / promoter involved in	----------------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--------------------------
26]	Buyer visit details	--------------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN:

Particulars	As on 31.03.2012 Rs. in Millions	As on 31.03.2011 Rs. in Millions
Loans and Advances from related parties	3.340	3.340
Total	3.340	3.340

OPERATIONS:

For the financial year ended 31st March 2012 the Revenue from operation of the Company decreased marginally to Rs 452.222 Millions as compared to Rs.510.377 Millions in Previous Year. The Net Profit of the Company for the year under review is of Rs.1.588 Millions as compared to previous year Net Profit of Rs. 14.294 Millions.

FUTURE OUTLOOK:

The Future of India Textile Industry is looking really bright, The director are planning to boost the ready fabric sales of the company with a brand name of “Dhanlaxmi Fabrics” in local as well as export market. Steps have been taken to strengthen the marketing cell. The Export of Ready Fabrics worth Rs. 6.237 Millions has been done in the year.

FIXED ASSETES:

• Land
• Building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• 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. 53.735
UK Pound	1	Rs. 83.542
Euro	1	Rs. 70.715

INFORMATION DETAILS

Report Prepared by :

VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.