Business information report

1. Summary Information

		Country	India
Company Name	THE PRINTERS (MYSORE) PRIVATE LIMITED	Principal Name 1	Mr. K. N. Shanth Kumar
Status	Satisfactory	Principal Name 2	Ms. Parul Anant Shah
		Registration #	08-000521
Street Address	Plot Nos. 7-12, Kumbalgodu Industrial Area, Mysore Road, Bangalore-560 074, Karnataka, India.
Established Date	04.02.1948	SIC Code	--
Telephone#	91-80-25880340	Business Style 1	Importer
Fax #	91-80-25880426	Business Style 2	Traders
Homepage	http://www.deccanherald.com	Product Name 1	News Papers
# of employees	Not Available	Product Name 2	Periodicals
Paid up capital	Rs. 64,000,000 /-	Product Name 3	Calendars
Shareholders	Bodies corporate 12.50%, Directors or relatives of directors 65.12%, Other 22.38%	Banking	Canara Bank
Public Limited Corp.	Yes	Business Period	65 years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	Ba (48)
Related Company
Relation -	Country -	Company Name	CEO
Associates	India	K. N. Guruswamy and Company Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	748,993,000	Current Liabilities	305,388,000
Inventories	223,241,000	Long-term Liabilities	135,492,000
Fixed Assets	421,935,000	Other Liabilities	532,932,000
Deferred Assets	110,383,000	Total Liabilities	973,812,000
Invest& other Assets	346,700,000	Retained Earnings	813,440,000
	0	Net Worth	877,440,000
Total Assets	1,851,252,000	Total Liab. & Equity	1,851,252,000
Total Assets (Previous Year)	1,653,181,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales (Including Total Income)	2,462,400,000	Net Profit/ (loss)	67,881,000
Sales(Previous yr) (Including Total Income)	2,282,400,000	Net Profit / (loss) (Prev.yr)	120,074,000

MIRA INFORM REPORT

Report Date :

27.05.2013

IDENTIFICATION DETAILS

Name :	THE PRINTERS (MYSORE) PRIVATE LIMITED
Registered Office :	Plot No.7-12, Kumbal Godu Industrial Area, Mysore Road, Bangalore – 560 074, Karnataka
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.02.1948
Com. Reg. No.:	08-000521
Capital Investment / Paid-up Capital :	Rs. 64.000 Millions
CIN No.: [Company Identification No.]	U22110KA1948PTC000521
TAN No.: [Tax Deduction & Collection Account No.]	BLRT00125G
PAN No.: [Permanent Account No.]	AABCT2065N
Legal Form :	Private Limited Liability Company
Line of Business :	Printing and Publishing of Newspapers and Periodicals.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 3510000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having a satisfactory track record. Financially company performing well. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct 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	CRISIL
Rating	A1 Letter of Credit
Rating Explanation	Very strong degree of safety regarding timely payments of financial obligation. It carry lowest credit risk.
Date	November 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.

LOCATIONS

Registered Office :	Plot No.7-12, Kumbal Godu Industrial Area, Mysore Road, Bangalore – 560074, Karnataka, India
Tel. No.:	91-80-25880340 / 0416 / 8437211/8437501 / 25880250/ 25880251
Fax No.:	91-80-25880426 / 0433 / 8437501
E-Mail :	vijayamg@printersmysore.co.in editorbg.printers@smb.sprintrpg.ems.vsnl.net.in, manorama.a@deccanherald.co.in
Website :	http://www.deccanherald.com
Area :	50000 sq. ft
Location :	Owned
Head/ Corporate/ Administrative Office :	No. 75, Mahatma Gandhi Road, Post Box No. 5331, Bangalore - 560001, Karnataka, India
Tel. No.:	91-80-2558 8999 (16 lines) / 5977 / 7094 / 25880000
Fax No.:	91-80-25587179 / 5587096 / 25880165
E-Mail :	decmet@giasbg01.vsnl.net.in/editor@deccanherald.co.in/ ads@deccanherald.co.in/editorbg.printers@smb.sptintrpg.ems.vsnl.net.in
Website :	http://www.deccanherald.com
Area :	20000 sq. ft
Location :	Owned
Branch Offices:	Located at: Belgaum Davanagere Mangalore Gulbarga Hassan New Delhi Mumbai Mysore Hubli Secunderabad Kolkata Mangalore Chennai Pune Bangalore

DIRECTORS

As on 14.09.2012

Name :

Mr. Kanekal Nettakallappa Tilak Kumar

Designation :

Joint Managing Director

Address :

173, Subbarama Chetty Road, Basavana Gudi, Bangalore – 560 004, Karnataka, India

Date of Birth/Age :

11.10.1953

Qualification :

BA. (Hons)

Experience :

34 Years

Date of Appointment :

30.11.1983

DIN No.:

00509397

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	U51909KA1970PTC001887	K N GURUSWAMY AND COMPANY PRIVATE LIMITED	Director	24/04/1970	24/04/1970	-	Active	NO
2	U22110KA1948PTC000521	THE PRINTERS (MYSORE) PRIVATE LIMITED	Whole-time director	30/11/1983	30/11/1983	-	Active	NO
3	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	21/06/2007	21/06/2007	-	Active	NO

Name :

Mr. Kanekal Nettakallappa Shanth Kumar

Designation :

Chairman and Managing Director

Address :

No. 289/A, Main Road, 8th Block Jaya Nagar, Bangalore – 560 082, Karnataka, India.

Date of Birth/Age :

14.02.1961

Qualification :

B.A.

Experience :

25 Years

Date of Appointment :

30.07.1986

DIN No.:

00487956

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	U51909KA1970PTC001887	K N GURUSWAMY AND COMPANY PRIVATE LIMITED	Director	16/10/1979	16/10/1979	-	Active	NO
2	U22110KA1948PTC000521	THE PRINTERS (MYSORE) PRIVATE LIMITED	Director	30/07/1986	30/07/1986	-	Active	NO
3	U74300TN2001PTC046414	WAN - IFRA SOUTH ASIA PRIVATE LIMITED	Director	04/06/2002	04/06/2002	-	Active	NO
4	U74899DL1947PLC103246	THE PRESS TRUST OF INDIA LIMITED	Director	17/06/2004	17/06/2004	-	Active	NO
5	U74140KA2001PTC029498	NOBBY NAZARETH ASSOCIATES PRIVATE LIMITED	Director	19/02/2005	19/02/2005	-	Active	NO
6	U74910KA2006PTC038413	EVALUATIONZ INDIA PRIVATE LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
7	U22210KA2008PTC046281	SOLNA PRINT SOLUTIONS PRIVATE LIMITED	Director	02/05/2008	02/05/2008	-	Active	NO
8	U67120KA2008PTC047482	ANURADHA SHANTHKUMAR HOLDINGS PRIVATE LIMITED	Director	18/08/2008	18/08/2008	-	Active	NO

Name :

Ms. Parul Anant Shah

Designation :

Director

Address :

No.174, Subbaramachetty Road, Basavanagudi, Bangalore – 560 004, Karnataka, India

Date of Birth/Age :

19.03.1954

Qualification :

M.A.

Experience :

4.5 Years

Date of Appointment :

10.11.2006

DIN No.:

01023071

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	U29195KA1990PTC011122	DHARINI BIOTECH PRIVATE LIMITED	Director	09/08/1990	09/08/1990	-	Active	NO
2	U03190KA1995PTC018753	GANGA MICRO ELECTRONICS PRIVATE LIMITED	Director	12/09/1995	12/09/1995	-	Active	NO
3	U92200KA1995PTC019043	KAVERI COMMUNICATIONS PRIVATE LIMITED	Director	25/10/1995	25/10/1995	-	Active	NO
4	U22110KA1948PTC000521	THE PRINTERS (MYSORE) PRIVATE LIMITED	Director	10/11/2006	10/11/2006	-	Active	NO

Name :

Mr. Kuldip Nayar

Designation :

Director

Address :

D-No. 7/2, Vasant Vihar, New Delhi – 110 057, India

Date of Birth/Age :

14.10.1923

Date of Appointment :

29.08.2008

DIN No.:

02261291

Name :

Mr. Sondekoppa Sundaraswamy Naganand

Designation :

Director

Address :

Kamala No. 50, IA Cross, Raj Mahal Vilas Extension, Meshri Circle, Bangalore - 560 080, Karnataka, India

Date of Birth/Age :

06.09.1957

Date of Appointment :

21.08.2010

DIN No.:

00454719

Other Directorship:

S.No.	IN/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	U70102KA1991PTC012092	SHREE SUMANA DEVELOPERS PRIVATE LIMITED	Director	28/06/1991	28/06/1991	-	Active	NO
2	U85110KA1994PLC015539	INNOVA SECURITIESANDINVESTMENTS LIMITED	Director	31/01/1995	31/01/1995	-	Active	NO
3	L27209KA1981PLC004343	BHUWALKA STEEL INDUSTRIES LIMITED	Director	28/09/2006	28/07/2006	31/05/2010	Active	NO
4	U22110KA1948PTC000521	THE PRINTERS (MYSORE) PRIVATE LIMITED	Director	21/08/2010	19/12/2009	-	Active	NO
5	U72400KA2009PTC051854	WE 45 SOLUTIONS INDIA PRIVATE LIMITED	Director	08/09/2012	29/06/2010	-	Active	NO

Name :

Mr. Sulegai Dhondusa Shivaji

Designation :

Additional Director

Address :

27/G, 1st Main, 4th Cross, 60 Feet Road, K E B Layout, Sanjaynagar, Bangalore – 560 094, Karnataka, India

Date of Birth/Age :

12.08.1930

Date of Appointment :

19.02.2011

DIN No.:

03495050

KEY EXECUTIVES

Name :	Devabrata Dutta
Designation :	Vice President Marketing
Date of Birth/ Age :	56 Years
Qualification :	Msc and Diploma BM
Experience :	28 Years
Date of Appointment :	26.02.2003
Sales and Marketing Team @ Bangalore :
Name :	Mr. Arvind P.S. Tiwari
Designation :	Assistant Manager – Career Avenues
Name :	Mr. Snethil Rajamanickam
Designation :	HR Consultant
Name :	Mrs. Sujatha
Designation :	Technical Support

MAJOR SHAREHOLDERS

As on 14.09.2012

Names of Shareholders	No. of Shares
Estate of Late Khan Bahdur Bedan Saheb	64
S.D. Shivaji	52
K.N. Guruswamy and Company Private Limited, India	320
M. Shashikala	4
M. Anuradha	4
S.D. Eswarasa	52
S.D. Muniswamy	48
K.N. Hari Kumar, K.N. Tilak Kumar and K.N. Shanth Kumar	4
Rekha Parashram Giriia Vijay and Usha Krishna Murthy and Vinutha Gurudati	11
M.P. Manjunath	49
K.N. Hari Kumar	516
K.N. Tilak Kumar	516
K.N. Hari Kumar HUF	21
K.N. Tilak Kumar HUF	21
K.N. Shanth Kumar HUF	21
M. Bhakta, Vatsala, Prema B. Moola, Anand Ranga Moola, Ved Mand Moola and Dev Siri Moola	48
Pratibha S. Moola, Siddartha S. Moola, Lakshmi S. Moola and Aparna S. Moola	48
M. Ramesh, Anuradha R. Moola, Sharuna R. Moola, Vivesh R. Moola and Bhavana R. Mooia	48
K.N. Shanth Kumar	516
M.M. Krishna jointly with M. Shashikala	3
M.M. Krishna jointly with M. Anuradha	3
S.D. Aswathnarayanasa, S.D. Nageshwar, S.D. Shivaram, S.D. Krishna Murthy and S.N. Raghavendra	52
Dechu R. Moola, Vishnu R. Moola, Brinda Devi Moola and Maya R. Moola	48
M. Sachin	3
S. Putta Naik	3
Geetha Gowtham, Vaishali, Murari Saranath and Sri Harsha	1
Estate of Late Mkpani	1
Suven M.	1
Urmila Roopkumar	2
Jagadeesh K. Moola	4
M.K. Govardhan Kumar jointly with M. Dharma Vijeth	24
S.D. Narayanasa, S.N. Srinivasa Murthy and S.N. Shiva Shankar	52
Total	2560

Equity Share Break up (Percentage of Total Equity)

As on 14.09.2012

Category	Percentage
Bodies corporate	12.50
Directors or relatives of Directors	65.12
Other top fifty shareholders	22.38
Total	100.00

BUSINESS DETAILS

Line of Business :

Printing and Publishing of Newspapers and Periodicals.

Products :

Item Code	Product Description
5903.10	News Papers
4902.90	Periodicals
4902	Calendars

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Actual Production
Newspapers	Copies	280923080
Periodicals	Copies	4404254
Other Publications	Copies	325000

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Canara Bank, Cantonment Branch, No. 88, M.G. Road, Bangalore – 560 001, Karnataka, India
• Canara Bank, Prime Corproate Branch, Shankarnarayana Building, No.25, M.G. Road, Bangalore – 560 001, Karnataka, India

Facilities :

Secured Loans	(Rs. in millions) 31.03.2012	(Rs. in millions) 31.03.2011
Working Capital loans	0.000	35.922
Term Loans	135.492	98.347
Total	135.492	134.269

Banking Relations :	-
Auditors :
Name :	K.P. Rao and Company Chartered Accountants
Address :	Poornima, 25, State Bank Road, Bangalore – 560 001, Karnataka, India
Tel. No.:	91-80-25587385/25586814
Fax No.:	91-80-25594861
E-Mail:	kprao@airtelmail.in
PAN No.:	AAAFK7720M
Memberships :	Confederation of Indian Industry
Related Party :	K. N. Guruswamy and Company Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2560	Equity Shares	Rs. 25000/- each	Rs. 64.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2560	Equity Shares	Rs. 25000/- each	Rs. 64.000 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		64.000	64.000	64.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		813.440	749.278	636.643
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		877.440	813.278	700.643
LOAN FUNDS
1] Secured Loans		135.492	134.269	102.840
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		135.492	134.269	102.840
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1012.932	947.547	803.483
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		421.935	434.610	458.255
Capital work-in-progress		177.253	0.000	1.116
INVESTMENT		169.447	219.755	0.806
DEFERRED TAX ASSETS		110.383	97.764	75.908
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	223.241	191.385	137.088
	Sundry Debtors	374.681	400.823	321.746
	Cash & Bank Balances	135.514	120.825	117.254
	Other Current Assets		0.000	0.000
	Loans & Advances	238.798	188.019	192.666
Total Current Assets		972.234	901.052	768.754
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	123.877	211.092	135.336
	Other Current Liabilities	181.511	65.206	60.373
	Provisions	532.932	429.336	305.647
Total Current Liabilities		838.320	705.634	501.356
Net Current Assets		133.914	195.418	267.398
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1012.932	947.547	803.483

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Advertisement	1736.700	1592.400	1929.256
		Circulation	663.600	646.000
		Other Revenue	63.900	44.000
		TOTAL	2464.200	2282.400	1929.256
Less	EXPENSES
		Office Expenses
		Administrative Expenses		2091.053	1806.511
		Advertising Expenses
		TOTAL	NA	2091.053	1806.511
	PROFIT/ (LOSS) BEFORE TAX		109.768	191.347	122.745
Less	TAX		41.887	71.273	40.825
	PROFIT/ (LOSS) AFTER TAX		67.881	120.074	81.920
Add	PREVIOUS YEARS’ BALANCE/ LOSS BROUGHT FORWARD		102.191	2.055	(65.377)
Less	APPROPRIATIONS
		Transfer to General Reserve	5.000	12.500	7.000
		Dividend	3.200	6.400	6.400
		Tax on Dividend	0.520	1.038	1.088
	BALANCE CARRIED TO THE B/S		161.352	102.191	2.055
	EARNINGS IN FOREIGN CURRENCY
		Advertisement	NA	1.763	0.778
	TOTAL EARNINGS		NA	1.763	0.778
	IMPORTS
		Raw Materials	891.117	688.815	545.265
		Consumables	81.025	1.569	2.252
		Components and spare parts used for maintenance of plant and machinery	5.759	6.061	5.144
		Capital goods	14.155	17.357	0.000
	TOTAL IMPORTS		992.056	713.802	552.661
	Earnings Per Share (Rs.)		26516	46904	32000

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.75	5.26	4.25
Return on Total Assets (PBT/Total Assets}	(%)	7.87	14.32	10.00
Return on Investment (ROI) (PBT/Networth)	(%)	0.13	0.24	0.18
Debt Equity Ratio (Total Debt /Networth)		0.15	0.16	0.15
Current Ratio (Current Asset/Current Liability)		1.16	1.28	1.53

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

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 records 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] 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. 55.99
UK Pound	1	Rs. 84.19
Euro	1	Rs. 71.86

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	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		48

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

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.