MIRA INFORM REPORT

Report Date :

18.05.2013

IDENTIFICATION DETAILS

Name :	PLASSER (INDIA) PRIVATE LIMITED
Registered Office :	Mohinder Puri and Company, 1A-D Vandhna Building, 11, Tolstory Marg , New Delhi -110001
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	01.05.1978
Com. Reg. No.:	55-008974
Capital Investment / Paid-up Capital :	Rs. 7.200 Millions
CIN No.: [Company Identification No.]	U74899DL1978PTC008974
TAN No.: [Tax Deduction & Collection Account No.]	DELP00879E
PAN No.: [Permanent Account No.]	AAACP6670L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Railway Track Maintenance Machines and Parts
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

A (66)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 2900000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having a good track record. Financially company seems to be strong. Liquidity position is good. There appears no external borrowing. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

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

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Bank Facility = AA-
Rating Explanation	Having high degree of safety regarding timely servicing of financial obligation it carry low credit risk
Date	28.12.2012

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 DECLINED

Management non-Cooperative (91-11-23351935)

LOCATIONS

Registered Office :	Mohinder Puri and Company, 1A-D Vandhna Building, 11, Tolstory Marg , New Delhi -110001, India
Tel. No.:	91-11-23351935
Fax No.:	91-11-23313908
E-Mail :	rakhi@mpco.com plasser@plasserindia.com
Website :	http://www.plasserindia.com
Factory :	13^th Milestone, Mathura Road, Gurukul Indraprastha Estate, P.O Amar Nagar, Faridabad - 121003, Haryana, India
Tel. No.:	91-129 - 4292600
Fax No.:	91-129 - 4292626, 4292627, 4292628

DIRECTORS

As on 29.09.2012

Name :

Wilhelm Brand

Designation :

Director

Address :

17/19 Maria Theresien, Strasse 1090, Viena, Austria

Date of Birth/Age :

08.03.1950

Date of Appointment :

08.05.1991

DIN No.:

00574871

Name :

Mr. Vikas Vig

Designation :

Alternate Director

Address :

B-120, Gujranwala Town, New Delhi, India

Date of Birth/Age :

07.10.1952

Date of Appointment :

01.05.2013

PAN No. :

AADPV1886A

DIN No.:

00003013

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	U18907GJ1993PLC018901	BELL GRANITO CERAMICA LIMITED	Director	29-01-93	29-01-93	27-06-11	Active	NO
2	U67190DL1996PTC078228	R P MALHAN AND COMPANY PRIVATE LIMITED	Director	17-04-96	17-04-96	07-10-09	Active	NO
3	U67190DL1996PTC078233	MOHINDER PURI AND COMPANY PRIVATE LIMTED	Director	17-04-96	17-04-96	-	Active	NO
4	U27205DL1996PTC082592	SWAROVSKI INDIA PRIVATE LIMITED.	Director	11-10-96	11-10-96	09-12-09	Active	NO
5	U29199DL1996PTC082591	ENGEL MACHINERY INDIA PRIVATE LIMITED	Director	11-10-96	11-10-96	-	Active	NO
6	U51909DL1999PTC097785	ARCTIC TRADING PRIVATE LIMITED	Director	04-01-99	04-01-99	15-12-10	Strike off	NO
7	U74140DL1999PTC097839	VEEM FINE CONSULTING PRIVATE LIMITED	Director	07-01-99	07-01-99	-	Active	NO
8	U24247MH1999PTC119120	WELLA INDIA HAIRCOSMETICS PRIVATE LIMITED	Director	20-05-99	20-05-99	-	Amalgamated	NO
9	U67120MH1999PTC167800	BPB HOLDINGS INDIA PRIVATE LIMITED	Director	15-11-99	15-11-99	-	Amalgamated	NO
10	U80302MH1986PTC040951	ACCESS INFORMATION SYSTEMS PRIVATE LIMITED	Director	28-09-00	28-09-00	15-12-08	Active	NO
11	U74140DL2000PTC107976	JABO INTERNATIONAL ENTERPRISES PRIVATE LIMITED.	Director	05-10-00	05-10-00	-	Strike off	NO
12	U74899DL2000PTC108734	FULL VIEW CONSULTANTS PRIVATE LIMITED	Director	14-12-00	14-12-00	-	Active	NO
13	U26945MH1985PLC165329	SAINT-GOBAIN GYPROC INDIA LIMITED	Director	03-08-01	03-08-01	31-12-09	Active	NO
14	U74140DL1991PTC044890	ARBITER CONSULTING PRIVATE LIMITED	Director	31-07-02	31-07-02	-	Converted to LLP and dissolved	NO
15	U51909DL2002PTC113652	A M COMMODITIES PRIVATE LIMITED	Director	24-04-03	24-04-03	-	Strike off	NO
16	U74999DL1990NPL038848	INDIAN COUNCIL OF CERAMIC TILES AND SANITARYWARE	Director	20-06-03	20-06-03	25-06-07	Active	NO
17	U74899DL2004PTC124964	AVIAN MANAGEMENT CONSULTANTS PRIVATE LIMITED	Director	03-03-04	03-03-04	-	Active	NO
18	U74140DL2004PTC124745	WTS India Private Limited	Director	08-04-04	08-04-04	-	Active	NO
19	U74140DL2004PTC128760	RISHI VANI GUIDANCE PRIVATE LIMITED	Director	02-09-04	02-09-04	-	Active	NO
20	U74899DL1995PLC071257	ENERGY INFRASTRUCTURE (INDIA) LIMITED	Director	31-08-05	31-08-05	15-12-08	Active	NO
21	U74140DL1994PTC057018	ASM RESEARCH PRIVATE LIMITED	Director	17-10-05	17-10-05	-	Active	NO
22	U74899DL1986PTC024890	INDIAN FINANCE AND INVESTMENT SERVICES PRIVATE LIMITED	Director	08-11-05	08-11-05	11-07-08	Active	NO
23	U74899DL1995PTC069213	ECOTECH AGENCIES AND SEVICES PRIVATE LIMITED	Director	30-09-06	06-01-06	-	Strike off	NO
24	U74899DL1978PTC008974	PLASSER (INDIA) PRIVATE LIMITED	Additional director	01-05-13	24-11-06	-	Active	NO
25	U74899DL2005PLC141614	TRICONE PROJECTS INDIA LIMITED	Director	30-06-08	11-09-07	-	Active	NO
26	U45201DL2005PLC135339	ANTARCTICA PROPERTIES COMPANY LIMITED	Director	30-09-08	07-02-08	-	Amalgamated	NO
27	U74140DL2008PTC176661	R P MALHAN AND COMPANY CONSULTANTS PRIVATE LIMITED	Director	11-04-08	11-04-08	-	Active	NO
28	U74140DL2007PLC163278	ANTARCTICA PROPERTIES COMPANY LIMITED.	Additional director	29-01-13	20-11-08	-	Active	NO
29	U74899DL1990PTC040770	AVL INDIA SOFTWARES PRIVATE LIMITED	Alternate director	18-02-11	18-02-11	-	Active	NO
30	U74210DL1999PTC100132	AVL TECHNICAL CENTRE PRIVATE LIMITED.	Alternate director	18-02-11	18-02-11	-	Active	NO
31	U74899DL1984PTC018045	AVL INDIA PRIVATE LIMITED	Alternate director	18-02-11	18-02-11	-	Active	NO

Name :

Wilhelm Brand

Designation :

Director

Address :

17/19 Maria Theresien, Strasse 1090, Viena, Austria

Date of Birth/Age :

08.03.1950

Date of Appointment :

08.05.1991

DIN No.:

00574871

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Plasser and Theurer BUF AG, Liechtenstein	59200
Vig Vikas	6400
Agarwal KR. Vijay	6400
Total	72000

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	82.00
Directors or relatives of Directors	18.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Railway Track Maintenance Machines and Parts

GENERAL INFORMATION

No. of Employees :	Information declined by the management
Bankers :	Not Divulged

Banking Relations :	--
Auditors :
Name :	A. Puri and Associates Chartered Accountants
Address :	2H Vandhna, 11, Tolstoy Marg, New Delhi – 110001, India
PAN No. :	AAAFA0114D
Associates :	Plasser and Theurer, Export von Bahnbaumaschinen G.m.b.H. Austria Franz Plasser Bahnbaumachinen Industriegesellschaft G.m.b.H Deutsche Plasser
Other Related:	Mohinder Puri and Company
Holding Company :	Plasser and Theurer, B.u.F. AG, Vaduz

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
72000	Equity Shares	Rs.100/- each	Rs.7.200 Million

Details of shareholders holding more than 5% shares in the Company

Equity Shares	No of Shares	% Holding
Plasser and Theurer, B.u.F. AG, Vaduz	59,200	82.22
Mr Vikas Vig	6,400	8.89
Mr Vijay Kumar Aggarwal	6,400	8.89

As per of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents bothlegal and beneficial ownerships of shares.

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		7.200	7.200	7.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		725.504	494.894	447.595
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		732.704	502.094	454.795
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		732.704	502.094	454.795
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		79.881	88.120	98.843
Capital work-in-progress		0.276	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		18.253	14.277	13.022
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	295.934	297.523	260.004
	Sundry Debtors	174.008	140.532	123.528
	Cash & Bank Balances	353.554	169.804	185.573
	Other Current Assets	4.514	2.326	2.666
	Loans & Advances	137.876	183.980	148.389
Total Current Assets		965.886	794.165	720.160
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	45.323	79.395	13.973
	Other Current Liabilities	80.059	118.184	164.170
	Provisions	206.210	196.889	199.087
Total Current Liabilities		331.592	394.468	377.230
Net Current Assets		634.294	399.697	342.930
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		732.704	502.094	454.795

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	NA	NA
		Other Income
		TOTAL	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses	NA	NA	NA
		Advertising Expenses
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		712.331	447.919	494.394
Less	TAX		231.236	148.744	168.240
	PROFIT AFTER TAX		481.095	299.175	326.154
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		133.293	115.910	75.080
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	29.917	32.615
		Interim Dividend	NA	72.000	72.000
		Proposed Dividend	NA	144.000	144.000
		Tax on Dividend	NA	35.875	36.709
	BALANCE CARRIED TO THE B/S		NA	133.293	115.910
	Earnings Per Share (Rs.)		6681.85	4155.00	4530.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	68.12	50.77	60.36
Return on Investment (ROI) (PBT/Networth)		0.97	0.89	3.19
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.91	2.01	1.91

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	No
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	No
24]	Banking facility details	No
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

FIXED ASSETS

• Buildings
• Plant and equipment
• Furniture and fixtures
• 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.54.89
UK Pound	1	Rs.83.66
Euro	1	Rs.70.58

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		66

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.