MIRA INFORM REPORT

Report Date :

28.05.2013

IDENTIFICATION DETAILS

Name :	KAMACHI STEELS LIMITED
Registered Office :	No.664, T.H. Road, Tondiarpet, Chennai – 600081, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.04.1995
Com. Reg. No.:	18-030850
Capital Investment / Paid-up Capital :	Rs.89.017 Millions
CIN No.: [Company Identification No.]	U27105TN1995PLC030850
TAN No.: [Tax Deduction & Collection Account No.]	CHEK02199B
PAN No.: [Permanent Account No.]	AAACK4450B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacture of Iron and Steel Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 1040000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The latest financials 2012 is not available. As per previous year’s record, the profitability was low. However, trade relations are reported fair. Business is active. Payment terms are unknown. The company can be considered for business dealings with some cautions.

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	CRISIL
Rating	Suspended BB- (Long Term Rating)
Rating Explanation	Moderate risk of default.
Date	May 3, 2013

Rating Agency Name	CRISIL
Rating	Suspended A4+ (Short Term Rating)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	May 3, 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/ Corporate Office :	No.664, T.H. Road, Tondiarpet, Chennai – 600081, Tamilnadu, India
Tel. No.:	91- 44-25910850/ 25910855/ 42961100 - 130 (except 129)
Fax No.:	91- 44-25917603
E-Mail :	info@kamachigroup.com vkkothari123@gmail.com glkotari@vsnl.com
Website :	http://www.kamachigroup.com
Head Office :	ABC Trade Centre (Inside Devi Theatre Complex), Old No.50, New No.39, Anna Salai, Chennai – 600002, Tamilnadu, India
Tel. No.:	91-44-42961100
Fax No.:	91-44-42961122
Rolling Mill Division/ RMD Factory :	B-4(N)B, Sipcot Industrial Complex, Gummidipoondi, Tiruvallur District Tamilnadu, India
Tel. No.:	91-44-42961100 - 130 (except 129)
Fax. No.:	91-44-27921357
E-Mail :	kothari@kamachigroup.com
Godown :	142/1A, Manali Oil Refinery Road, Ernavoor, Chennai – 600057, Tamilnadu, India
Tel. No.:	91-44-25917603
Furnace Factory :	No.5/58, G.N.T. Road, Duraianllur Pudhuvayal Post, Ponneri – 601204, Tamilnadu, India
Tel. No.:	91-44-27900411/ 27925282

DIRECTORS

As on: 28.09.2012

Name :

Mr. Vijay Kothari

Designation :

Managing Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, First Cross Street, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

12.06.1979

Qualification :

Post Graduate

Date of Appointment :

01.01.2010

DIN No.:

01168551

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	U65929WB1996PTC138106	PURE GOLD FINANCE PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
2	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Managing director	01/01/2010	15/12/2009	-	Active	NO
3	U65993WB1993PTC136508	SHOBHA INVESTMENT PRIVATE LIMITED	Director	22/03/2013	20/06/2012	-	Active	NO

Name :

Mr. Ghisulal Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, First Cross Street, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

04.12.1950

Qualification :

Graduate

Date of Appointment :

06.04.1995

DIN No.:

01168461

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	U45402TN1995PLC030832	ABC PROPERTIES LIMITED	Director	05/04/1995	05/04/1995	25/12/2009	Active	NO
2	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
3	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	24/07/2000	24/07/2000	-	Active	NO
4	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
5	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Whole-time director	13/09/2004	13/09/2004	-	Active	NO
6	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	28/09/2006	19/04/2006	-	Active	NO
8	U74899WB1995PLC114981	SHIVPRIYA FINVEST LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Director	19/02/2011	19/02/2011	-	Active	NO
12	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
13	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Sardarmal Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, First Cross Street, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

03.10.1958

Qualification :

Graduate

Date of Appointment :

06.04.1995

PAN No.:

DIN No.:

01168374

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	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
2	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Managing director	01/04/2009	08/10/2003	-	Active	NO
3	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	02/08/2004	02/08/2004	-	Active	NO
4	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	13/09/2004	13/09/2004	-	Active	NO
5	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	01/10/2004	01/10/2004	-	Active	NO
6	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	28/09/2006	19/04/2006	-	Active	NO
8	U67120WB1996PTC117347	S B M INVESTMENTS PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
12	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Shantilal Meghraj Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, First Cross Street, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

01.05.1953

Qualification :

Graduate

Date of Appointment :

06.04.1995

DIN No.:

01789941

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	U45402TN1995PLC030832	ABC PROPERTIES LIMITED	Director	05/04/1995	05/04/1995	25/12/2009	Active	NO
2	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
3	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	24/07/2000	24/07/2000	-	Active	NO
4	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
5	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	13/09/2004	13/09/2004	-	Active	NO
6	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	19/04/2006	19/04/2006	-	Active	NO
8	U28931WB1996PTC117342	DEVSHREE SAVING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
12	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Vinod Kothari

Designation :

Director

Address :

New No. 10, Old No. 13, Sylvan Lodge Colony, First Cross Street, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

05.12.1972

Qualification :

Graduate

Date of Appointment :

11.05.1998

DIN No.:

00215412

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	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	11/05/1998	11/05/1998	-	Active	NO
2	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	20/01/2004	20/01/2004	-	Active	NO
3	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	11/02/2004	11/02/2004	-	Active	NO
4	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	01/11/2004	01/11/2004	-	Active	NO
5	U51420TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
6	U65929WB1996PTC138106	PURE GOLD FINANCE PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
7	U67120WB1996PTC115245	UTTAM FINVEST PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
8	U67120WB1996PTC117347	S B M INVESTMENTS PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U74899WB1995PLC114981	SHIVPRIYA FINVEST LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
10	U65921WB1994PTC117343	BOOH FINANCE COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
11	U28931WB1996PTC117342	DEVSHREE SAVING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
12	U27310TN2008PTC067964	STRIDE STEELS PRIVATE LIMITED	Director	29/05/2008	29/05/2008	12/04/2011	Active	NO
13	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	01/04/2009	01/04/2009	-	Active	NO
14	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	27/09/2010	01/02/2010	-	Active	NO
15	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Additional director	19/01/2011	19/01/2011	07/03/2011	Active	NO
16	U65993WB1993PTC136508	SHOBHA INVESTMENT PRIVATE LIMITED	Director	22/03/2013	20/06/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2012

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2012

Category	Percentage
Bodies corporate	68.70
Directors or relatives of directors	30.21
Others	1.09
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of Iron and Steel Products.

Products :

Product Description	ITC Code
CTD/TMT Bars	72142090
Ingots/Billets	72071920
Defective Ingots	72061010

PRODUCTION STATUS (As on: 31.03.2011)

Particulars	Unit	Installed Capacity
M.S Ingots	M.T	47680
CTD Bars	M.T	36000

PRODUCTION

a) Includes 14,000.440 M.T Ingots produced by the Conversion agent.

b) Includes 162.310 M.T Defective Ingots Produced by the Conversion agent.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Union Bank of India, Washermanpet Branch, 17, G.A. Road, Old Washermanpet, Chennai - 600021, Tamilnadu, India
• ICICI Bank Limited
• HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	0.000	4.627
Working capital loans banks secured	74.966	81.313
Loans taken for vehicles secured	4.005	0.989
Total	78.971	86.929

Banking Relations :	--
Auditors :
Name :	Sunil Patodia and Company Chartered Accountants
Address :	No:43/85, Thambu Chetty Street, Chennai – 600001, Tamilnadu, India
PAN No.:	AAHFS6208H
Enterprises over which key management persons have significant influence and enterprises having a key management person in common:	Kamachi Sponge and Power Corporation Limited K.I.(International) Limited Goyal Ispat Limited Maa Durga Enterprises Limited Kamachi Granites Private Limited

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs.10/- each	Rs.125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8901700	Equity Shares	Rs.10/- each	Rs.89.017 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		89.017	89.017	88.817
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		171.910	147.483	141.784
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		260.927	236.500	230.601
LOAN FUNDS
1] Secured Loans		78.971	86.929	89.616
2] Unsecured Loans		210.956	152.992	153.249
TOTAL BORROWING		289.927	239.921	242.865
DEFERRED TAX LIABILITIES		14.130	12.671	11.087
TOTAL		564.984	489.092	484.553
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		133.847	117.206	82.074
Capital work-in-progress		0.000	0.000	1.068
INVESTMENT		176.650	141.650	145.450
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	313.456	196.449	267.800
	Sundry Debtors	133.976	141.101	221.741
	Cash & Bank Balances	63.872	10.936	25.634
	Other Current Assets	0.000	0.000	37.040
	Loans & Advances	166.980	213.223	127.286
Total Current Assets		678.284	561.709	679.501
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	409.305	326.528	421.096
	Other Current Liabilities	3.892	3.550	0.000
	Provisions	10.875	1.719	2.818
Total Current Liabilities		424.072	331.797	423.914
Net Current Assets		254.212	229.912	255.587
MISCELLANEOUS EXPENSES		0.275	0.324	0.374
TOTAL		564.984	489.092	484.553

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2445.891	1333.773	1662.468
		Other Income	2.862	4.129	21.845
		TOTAL (A)	2448.753	1337.902	1684.313
Less	EXPENSES
		Consumption materials changes inventories	1838.015	902.277
		Manufacturing service costs	496.023	381.335
		Employee related expenses	6.033	2.715
		Administrative selling other expenses	37.803	14.126
		TOTAL (B)	2377.874	1300.453	1638.516
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		70.879	37.449	45.797
Less	FINANCIAL EXPENSES (D)		20.789	18.634	23.513
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		50.090	18.815	22.284
Less/ Add	DEPRECIATION/ AMORTISATION (F)		13.328	10.113	9.323
	PROFIT BEFORE TAX (E-F) (G)		36.762	8.702	12.961
Less	TAX (H)		12.335	3.302	2.221
	PROFIT AFTER TAX (G-H) (I)		24.427	5.400	10.740
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		34.395	28.995	18.255
	BALANCE CARRIED TO THE B/S		58.822	34.395	28.995
	Earnings Per Share (Rs.)		2.74	0.61	1.21

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.00	0.40	0.64
Net Profit Margin (PBT/Sales)	(%)	1.50	0.65	0.78
Return on Total Assets (PBT/Total Assets}	(%)	4.53	1.28	1.70
Return on Investment (ROI) (PBT/Networth)		0.14	0.04	0.06
Debt Equity Ratio (Total Debt/Networth)		1.11	1.01	1.05
Current Ratio (Current Asset/Current Liability)		1.60	1.69	1.60

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	No
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

COMPANYS PERFORMANCE

During the year, the Company achieved a total turnover of Rs. 2448.753 Millions. The net profit for the year is Rs. 24.427 Millions.

UNSECURED LOAN

(Rs. In Millions)

Particular	As on 31.03.2011	As on 31.03.2010
Other debt unsecured	210.956	152.992
Total	210.956	152.992

CONTINGENT LIABILITIES (As on: 31.03.2011)

Contingent liability amounting to Rs.62.325 Millions (Approx.) being the letter of credit issued by the bank.

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U27105TN1995PLC030850
Name of the company	KAMACHI STEELS LIMITED
Address of the registered office or of the principal place of business in India of the company	No.664, T.H. Road, Tondiarpet, Chennai – 600081, Tamilnadu, India E-mail: vkkothari123@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90290203
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Union Bank of India, Washermanpet Branch, 17, G.A. Road, Old Washermanpet, Chennai - 600021, Tamilnadu, India E-mail: washermanpet@unionbankofindia.com
Nature of instrument creating charge	1. Hypothecation Agreement of Goods and Debts (SD-06) dated 26.03.2013
Date of instrument Creating the charge	26.03.2013
Amount secured by the charge	Rs.285.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest (BR+5%) i.e., 5.50% over Union Bank of india's Base Rate or such other rates as may be prescribed by the Bank from time to time. Terms of Repayment Payable on demand. Margin For CC (H) - 25% on stocks and 35% on Book Debts For ADHOC CC(H) for 90days - 25% on stocks and 35% on Book Debts Extent and Operation of the charge Hypothecation of fully paid / insured stocks and Book Debts not older than 90 days, stocks and book debts arisen out of LC purchases, Lien on deposits held as margin, counter indemnity and Lien on deposits held as margin.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Extension for Equitable Mortgage of Land 2.660 acres (with Factory Building, Plant and Machineries) at S. No. 36 (Part), 37 (Part), 5/58, G.N.T Road, Durainallur Village, Puduvoyal Post, Ponneri TK. Extension for Equitable Mortgage of 1.515 acres of land with Building, plant and Machineries at S.No.334/3 pt, and 7 pt, 335/1, 2, 3 and 5A pt, Plot No. B-4, N (B) SIPCOT Industrial Complex, Gummidipoondi. Extension for Equitable Mortgage of 8.07 acres of land with Building (2 Windmills of 600 KW WEG) @ S.No. 181/1 @ Thanakkar Kulam Village, Radhapuram Taluka, Tirunelveli Dt All raw materials, semi finished and finished goods, consumable stores and spares and moveable property of any kind now or at any time hereafter belonging to or at the disposal of the borrower and which are now stored or being stored or which hereafter may from time to time be brought into or stored or be in or about the Borrower's premises or godown/s at Durainallur, Gummidipoondi, Chennai The borrowers Book Debts, outstanding, monies, deposits, receivables, claims and Bills, contracts, securities, investments which are now due and owing to the borrower in the course of business.
Date of instrument modifying the charge	27.06.2011
Particulars of the present modification	Existing Revised (Rs. In Millions) Cash Credit (H) 170.000 170.000 Imp LC 60.000 60.000 Letter of Guarantee 5.000 5.000 ADHOC NIL 50.000 CC(H) for 90days ------------------ ---------------- 235.000 285.000 TOTAL

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Office Equipments
• Factory Equipments
• Computer Equipments
• Furniture and Fixtures
• Vehicles
• Knowhow
• Computer Software

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.55.62
UK Pound	1	Rs.84.18
Euro	1	Rs.71.96

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		35

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.