MIRA INFORM REPORT

Report Date :

29.05.2013

IDENTIFICATION DETAILS

Name :	COOPER CORPORATION PRIVATE LIMITED [w.e.f. 31.05.2008]
Formerly Known As :	COOPER FOUNDRY PRIVATE LIMITED
Registered Office :	L-3, Additional MIDC, Kodoli, Satara-415004, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.01.1982
Com. Reg. No.:	11-26229
Capital Investment / Paid-up Capital :	Rs.11.200 Millions
CIN No.: [Company Identification No.]	U27101PN1982PTC026229
TAN No.: [Tax Deduction & Collection Account No.]	PNEC05734B
PAN No.: [Permanent Account No.]	AAACC9687J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Engine Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (60)

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 3500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an old and a well established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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.

LOCATIONS

Registered Office/ Factory :	L-3, Additional MIDC, Kodoli, Satara-415004, Maharashtra, India
Tel. No.:	91-2162-240413 / 244413 / 244273 / 244272 / 240413 / 240272 / 240273 / 240702 / 240703 / 248702 / 248703
Fax No.:	91-2162-244271 / 247023 / 240271 / 240023
E-Mail :	centrifugal@vsnl.com contact@coopercorp.in centrifugal@coopercorp.in
Website :	http://www.coopercorp.in
Factory (Since 2006):	M-60, Additional MIDC, Kodoli, Satara-415004, Maharashtra, India

DIRECTORS

As on 30.09.2011

Name :	Mr. Farrokh Nariman Cooper
Designation :	Managing Director
Address :	Mayfair Gardens, Camp, Satara – 415 001, Maharashtra, India
Date of Appointment :	28.01.1982
DIN No.:	00133576
Name :	Mr. Sam Nariman Cooper
Designation :	Director
Address :	Hunt Worth, Camp, Satara – 415 001, Maharashtra, India
Date of Appointment :	28.01.1982
DIN No.:	00133781
Name :	Mrs. Maharookh Farrokh Cooper
Designation :	Director
Address :	Mayfair Gardens, Camp, Satara – 415 001, Maharashtra, India
Date of Birth/Age :	24.06.1947
Date of Appointment :	05.07.2008
DIN No.:	01899903
Name :	Mr. Zal Sam Cooper
Designation :	Director
Address :	Hunt Worth, Camp, Satara – 415 001, Maharashtra, India
Date of Birth/Age :	05.01.1965
Date of Appointment :	05.07.2008
DIN No.:	01899924
Name :	Mr. Suryaji Gavalax Swami
Designation :	Director
Address :	Raghuchandra, 500 A/4, Sadar Bazar, Satara – 415 001, Maharashtra, India
Date of Birth/Age :	29.07.1944
Date of Appointment :	05.07.2008
DIN No.:	01900503
Name :	Mr. Iyer Nataraja Sundaram Pudukkotti Subbanarayana
Designation :	Director
Address :	Flat No. 103, Building No. 71, Shami Vasant Vihar, Pokhran Road No. 2, Thane – 400 601, Maharashtra, India
Date of Birth/Age :	28.10.1934
Date of Appointment :	05.07.2008
DIN No.:	01900533
Name :	Mr. Jitendra Babgonda Patil
Designation :	Director
Address :	Flat 3/A, Rahul Apartment, 83/10, Erandawana, Pune – 411 004, Maharashtra, India
Date of Birth/Age :	20.05.1937
Date of Appointment :	05.07.2008
DIN No.:	01920473
Name :	Mr. Ramesh Mahadev Jadhav
Designation :	Director
Address :	Karmavir Nagar, MIDC, Satara-415004, Maharashtra, India
Date of Appointment :	30.4.2010
DIN No.:	03013791

KEY EXECUTIVES

Name :	Mr. Yogesh Shewade
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Farrokh Nariman Cooper	67207
Sam Nariman Cooper	72793
Maharookh Farrokh Cooper	461300
Cooper Metals, India	518000
Amy V. Tarapore	7
Manisha Farrokh Copper	623
Suryaji Gavalax Swami	70
Total	1120000

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	46.25
Directors or relatives of directors	53.74
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Engine Components.

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Installed Capacity	Actual Production
C.I. Castings	MTS	51000*	40523*
Engines/ Gensets	Nos.	6000	216

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Citi Bank N.A., Bandra Kurla Complex, G-Block, Bandra (East), Mumbai – 400 051, Maharashtra, India
• Corporation Bank, Industrial Finance Branch, 14 Pune Mumbai Road, Wakdewadi, Pune – 411 003, Maharashtra, India
• Axis Bank Limited, Pune Branch at 1262/B, Jangli Maharaj Road, Deccan Gymkhana, Pune – 411 004, Maharashtra, India
• IDBI Bank Limited, MIDC, Godoli Branch, Satara, Maharashtra, India
• Industrial Development Bank of India Limited
• Bank of Maharashtra
• ICICI Bank Limited

Facilities :

SECURED LOAN	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loan	716.798	855.315
Working capital loans	309.456	225.467
Loans taken for vehicles	2.620	1.531
Other debts	200.247	236.342
Total	1229.121	1318.655

Banking Relations :	--
Auditors :
Name :	S.R. Choursiya and Company Chartered Accountants
Address :	61, Pantacha Got, Opposite Karad Urban Bank, Satara-415001, Maharashtra, India
PAN No.:	AANPC4240K
Associates:	Cooper Metals Private Limited [U27101PN1982PTC026228]

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1120000	Equity Shares	Rs.10/- each	Rs.11.200 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		11.200	11.200	1.599
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		865.396	723.927	650.031
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		876.596	735.127	651.630
LOAN FUNDS
1] Secured Loans		1229.121	1318.655	1335.859
2] Unsecured Loans		41.908	60.887	54.920
TOTAL BORROWING		1271.029	1379.542	1390.779
DEFERRED TAX LIABILITIES		61.270	79.464	42.896
TOTAL		2208.895	2194.133	2085.305
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1621.573	1591.179	1600.251
Capital work-in-progress		20.359	96.406	39.099
INVESTMENT		8.995	8.824	8.824
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	246.317	172.738	84.175
	Sundry Debtors	672.916	574.055	445.835
	Cash & Bank Balances	64.678	53.861	66.432
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	254.494	168.411	199.900
Total Current Assets		1238.405	969.065	796.342
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	613.875	479.500	333.246
	Other Current Liabilities	4.536	3.493	0.000
	Provisions	122.817	79.688	70.350
Total Current Liabilities		741.228	562.681	403.596
Net Current Assets		497.177	406.384	392.746
MISCELLANEOUS EXPENSES		60.791	91.340	44.385
TOTAL		2208.895	2194.133	2085.305

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Export Sale	1231.167	596.726	969.551
		Domestic Sale	1154.882	955.020	788.617
		Wind Power Sale	47.716	49.958	51.100
		Others Income	10.012	8.905	10.354
		TOTAL (A)	2443.777	1610.609	1819.622
Less	EXPENSES
		Office Expenses
		Administrative Expenses	1881.413	1195.297	1410.864
		Advertising Expenses
		TOTAL (B)	1881.413	1195.297	1410.864
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		562.364	415.312	408.758
Less	FINANCIAL EXPENSES (D)		125.983	111.228	83.740
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		436.381	304.084	325.018
Less/ Add	DEPRECIATION/ AMORTISATION (F)		232.428	155.675	145.566
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		203.953	148.409	179.452
Less	TAX (H)		24.864	22.797	28.792
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		179.089	125.612	150.660
	Earnings / (Loss) Per Share (Rs.)		159.90	112.15	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	7.33	7.80	8.28
Net Profit Margin (PBT/Sales)	(%)	8.55	9.56	10.21
Return on Total Assets (PBT/Total Assets}	(%)	7.13	5.80	7.49
Return on Investment (ROI) (PBT/Networth)		0.23	0.20	0.28
Debt Equity Ratio (Total Liability/Networth)		2.30	2.64	2.75
Current Ratio (Current Asset/Current Liability)		1.67	1.72	1.97

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors	613.875	479.500	333.246

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	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

PERFORMANCE REVIEW:

During the year, the company has shown stellar performance with the sales for the year increasing by a whopping 53% over the previous year to touch Rs. 2380.000 millions as against Rs. 1550.000 millions in F.Y. 2009-10. The robust growth in sales has come from smart recovery in export sales resulting from orders from new customers as well as increased orders from existing customers. On domestic front also, we clocked a sales growth of 21% over the previous year.

The growth in sales has been reflected in an impressive growth in operating profit which is increased from Rs. 415.300 millions to Rs. 562.400 millions registering a growth of 35% over the previous year. The Profit after Tax for the year was Rs. 179.100 millions as against Rs. 125.600 millions in the previous year.

Another milestone reached by the company during the year was successful commissioning of new state of the art Engine and Genset manufacturing plant. With the new facility going operational, we have successfully completed a forward integration project and have transformed ourselves from an engine component manufacturer to an Engine and Genset manufacturer. At present, the manufacturer of diesel engines with 2 cylinders is commenced. However, the family is expected to be expanded soon with the development of engines with 3, 4 and 6 cylinders in CNG, LPG variants getting over. Once fully developed, the plant would be able to manufacture engines upto 280 HP capacity and gensets from 10 Kva to 200 Kva capacity. The development is expected to be completed by December, 2011.

FUTURE BUSINESS OUTLOOK:

With the year being a spectacular one on many fronts for the company, the directors are hopeful of improving the synergies further in the coming financial year.

ENGINE COMPONENT BUSINESS:

In this particular business segment, the company has, over the years, carved a niche for itself as being one of the dependable suppliers for quality components. Their customer portfolio includes almost all reputed OEMs spread across industry verticals ranging from automobiles, power, marine, windmills, railways, tractors etc. both in domestic as well as export markets. Further, with their continuous thrust on quality and strong execution capabilities, they have been able to get repeat orders from their existing customers in addition to getting orders from new customers for value added products.

DOMESTIC BUSINESS:

On domestic front, the macroeconomic picture continues to be robust with the Indian economy growing at around 8% for past several years and expected to repeat the performance in the coming year. With strong domestic demand caused by rising income levels of people, the demand is expected to be robust for coming months. The company is having a very well diversified product portfolio across various industry verticals. Further, since last several years, the company has been investing in new technologies. As a result of the technological developments undertaken, the company has created a niche for itself in the market to become a dependable supplier of quality products at competitive rates. All this has the effect of putting the company on decent growth path. Moreover, the improvements in technology has also resulted in improvement in the yield of castings, import substitution of certain raw materials, process optimization, savings in cost of raw materials, tools, consumables etc. It is because of all these measures taken that the company continues to be on a robust growth path even in challenging macroeconomic situations.

With the strong order book and expected order flow in the coming months, the company expects to achieve a domestic sales turnover of around Rs. 1300.000 millions in F.Y. 2011-12 as against Rs. 1150.000 millions in F.Y. 2010-11. They are plans of expanding their production capacities to cater to the increased demand.

EXPORT BUSINESS:

Over the years, the company has been recognized as one of the key supplier for supply of quality castings to various reputed companies in Europe, U.S.A. etc. The company’s export sales have increased significantly in F.Y. 2010-11 to reach Rs. 1231.100 millions from Rs. 596.000 millions in F.Y. 2009-10. Exports continue to be a thrust area for the company in the coming year with several new customers approaching the company to cater to their castings requirements in addition to increased production schedules from its existing customers for existing as well as new product requirements. The company, with its strong technological base has created a niche in export market. Their customers in export market are all 5 star rated customers and with order schedules from them on the increase, the company is seeing a huge order inflow notwithstanding the economic conditions in export economies. The company expects to achieve an export turnover of around Rs. 1300.000 millions for the F.Y. 2011-12 as against Rs. 1230.000 millions for F.Y. 2010-11. They are plans of expanding their production capacities to cater to the increased demand.

ENGINE AND GENERATING SET BUSINESS:

The company’s state of the art engine and generating set manufacturing plant went on stream last year. The plant has a capacity of manufacturing 6,000 No. of engines p.a. which can be further expanded to 20,000 No.s p.a. with small additional investment. I take pride to inform you that the company will be the first in the country to manufacture CRDI generating set.

The company is presently focusing on selling of generating sets captively consuming the engines manufactured in the new plant. Since the demand of power in most of the states in India far exceeding its supply, it gives immense opportunities for the company to cater to this niche segment. Further, with the company’s technologically advanced generating sets giving substantial fuel and space economies, lower emission etc. The company expects to make a strong inroad into the generating set market. The company has already appointed about 15 dealers in Maharashtra, Karnataka, Uttar Pradesh, Haryana etc. and expects to increase it further in the coming days.

For the coming financial year, the company has set a modest sales target of Rs. 300.000 millions for engine/ genset business.

UNSECURED LOAN

Particulars	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Working capital loan	0.000	20.404
Director loans	2.861	2.861
Deposit related parties	0.900	0.900
Deferred sales tax loan	36.722	36.722
Other debts	1.425	0.000
Total	41.908	60.887

CONTINGENT LIABILITIES:

A. Bills discounted by the company Rs. 200.247 Millions (previous year Rs. 236.341 Millions) against which company has a right of recovery from the customers.

B. Estimated amount of contracts (net of advances) remaining to be executed on capital account as on 31st March, 2011 Rs. Nil (Previous year Rs. 65.674 Millions)

C. The Income Tax Department has issued Demand Notices for Rs. 7.801 Millions (previous year Rs. Nil) in connection with TDS matters for past assessment years. The company has been advised that the said demands are raised by the Income Tax Department due to technical mis-match of data in the database of the Income Tax Department and thus liable to be rectified. Accordingly, the company has filed rectification applications with the concerned authorities. The amounts of tax deducted at source by the company for the concerned assessment years for which the erroneous demands are raised by the Income Tax Department have duly been paid by the company from time to time.

Demands raised by the Income Tax Department from assessments etc. not acknowledged by the company Rs. 6.165 Millions. The company has filed appeals against the said demands. As per the advice sought by the company in this regard, the company expects the appeals to be decided in its favour and as such does not foresee any liability on this front.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computers

· Wind Mill

· Mould, Jigs and Dies

· Laboratory and Fire-Fighting Equipments

· Electric Installation Plant

· Office Equipment

· Air Conditioner

· Furniture and Fixtures

· Motor Vehicle

PRESS RELEASES:

COOPER CORPORATION PRIVATE LIMITED LAUNCHES “ECO PACK” INDIA’S FIRST POWER PACKED, COST EFFICIENT AND SILENT REVOLUTION IN GREEN DIESEL GENERATORS.

28.01.2011

Cooper Corporation, a prominent global OEM supplier engaged in a variety of production processes has launched India’s first power packed, cost efficient and silent revolution in eco friendly diesel generators under the brand name “Cooper Corp’s Eco Pack". Decades of in-house research and strategic alliances with global partners such as Ricardo, UK, have culminated in the launch of this stand-apart genre of power generators that is entirely produced at Cooper Corporation’s new assembly plant located at Satara, Maharashtra.

Commenting on the launch of Cooper Corp's ECOPACK diesel generator, Mr. Farrokh N. Cooper, Chairman and Managing Director said, “The ECOPACK series will set a global platform for Cooper Corporation as this genset enjoys a unique position among other diesel power generators in India. It owes this distinction to several outstanding features and benefits like 15% lower fuel consumption, 25% smaller in size, 40% lighter in weight, 42% saving in maintenance cost and 10 times quieter. The genset is available in power ranging from 10KVA - 200 KVA and is powered by 4-stroke, liquid cooled, Cooper made diesel engines, based on state-of-the-art CRDi technology. Cooper Corp’s Eco Pack could be used for homes, farm houses, bungalows, hotels, call centers, telecom towers. “

Clean and Green Technology - Cooper Corp's ECOPACK series is India’s first Euro IV, US EPA Tier IV Interim and CPCB 2 compliant set of generators. This makes Cooper Corp's ECOPACK the automatic choice for environment-conscious power consumers.

The Silent Revolution - The use of a specially designed CPCB approved acoustic canopy is a result of in-depth R and D, evolved out of several design and prototype tests. With a 7-tank pretreatment and durable powder coating the Cooper Corp's ECOPACK series functions with a commando like efficiency - stealthy, powerful and yet the noise measured is within (75/65) dbA at 1 meter, distance under free field condition.

The Tech Savvy Genset - Cooper Corp's ECOPACK series of Gensets are powered with an advanced ECU and Optimal Remote Control Specially designed ECU module which controls all critical parameters of the engine with optimal remote control facility.

Efficient and Consumer Friendly - Cooper Corp's ECOPACK Gensets are 40% lighter and require 25% less space in comparison to other brands of repute has an unmatched fuel efficiency, coupled with the highest maintenance interval of 500 hours and lube oil consumption of 0.1% makes ECOPACK the most economic brand of generators to operate and enjoys a B10 life of 7000 Hours.

After Sales Service - Cooper Corp's ECOPACK series Gensets comes with the Cooper guarantee of quality hence breakdowns are hardly any. We have nationwide network of service dealers who are well equipped with genuine spare parts stock and ready to provide prompt after sales service. We also invite interested and capable parties to be our authorized sales and service dealer for unrepresented areas.

ABOUT COOPER CORPORATION

The legacy of Cooper Corporation dates back to 1922 when Sir D B Cooper established Cooper Engineering in Satara. Thanks to his astute vision, the historic town of Satara witnessed a new wave of industrialization without losing its rich heritage that finds its roots in ancient times. Cooper Corporation’s ceaseless commitment to quality, service and product innovation has consistently kept pace with the changing market needs worldwide. The company’s rapid strides in the global market bear testimony to this fact. Cooper employs over 2000 people comprising engineers, quality control personnel, workmen and administrative staff recruited from the leading educational and technical institutions following a rigorous induction process that strikes a judicious blend of academic expertise and professional exposure. Over the years, the company has consistently invested in the latest state-of-the-art technology across 75 acres of land in Satara through the engagement of experienced consultants from the world over. The company has set-up its own R and D unit to explore the possibilities of developing new products.

COOPER CORPORATION PRIVATE LIMITED SETS UP A MEGA PROJECT ENGINE PLANT IN SATARA FOR GENERATORS AND AUTOMOBILES.

18.12.2010

Cooper Corporation, a prominent global OEM supplier engaged in a variety of production processes has recently launched and announced the set up of a state-of-the-art engine manufacturing plant with an investment of Rs. 3000.000 Millions at Satara in Maharashtra. Mr. Jayant Patil, Hon. Minister of Rural Development, Maharashtra, in the presence of various dignitaries including Mr. Hassan Mushrif, Hon. Minister of Labour, Maharashtra, Mr. Ramraje Naik Nimbalkar, Hon. Minister of Water Resources, Maharashtra and Mr.Sunil Tatkare, Hon. Minister for Water Resources (excluding Krishna Valley), inaugurated this mega project plant recently. Decades of in-house research and technical collaboration with global partners Ricardo, UK have culminated in the launch of mega project engine plant for generators and automobiles.

The new mega project engine plant has the capacity to manufacture engines for power generators as well as automobiles. Cooper Corporation would immediately roll out their revolutionary power generator sets named “Cooper Eco Pack” from this plant and in due course plans to launch LCV’s. The Government of Maharashtra has conferred the status of "Mega Project" to Cooper Corporation Private Limited new engine plant at Satara, Maharashtra. This status will enable Cooper Corporation to avail various incentives from the Government of Maharashtra in due course of time. This engine plant has a total production capacity of 24000 engines per year.

Farrokh N. Cooper, Chairman and Managing Director highlighted the fact that the company is establishing this unit in Satara itself in order to support the company’s corporate objective of contributing to the balanced growth of the town. Cooper Corporation has invested considerable resources to ensure highest standards in environment management. Farrokh N. Cooper, Chairman and Managing Director stated that “We are very proud of our rich tradition of being innovative and successful in rural Maharashtra and in an industry dominated by large multinational companies. We have always endeavoured to manufacture high quality world class products and to utilize cutting edge technology. Our growing list of satisfied, multinational customers across the globe is a testament to the quality standard of our products and our continuous commitment to our customers”.

The engine is powered by Cooper 1.2L, CRDI engine; it entails an electronic engine management system and is designed in technical collaboration with Ricardo, UK. The engine is certainly the lowest fuel and oil consumption product in its class and is compliant with current and forthcoming emission regulations (Euro IV, US EPA Tier IV interim and CPCB Stage 2)

ABOUT COOPER CORPORATION

Ever since its inception that dates back to 1922, Cooper Corporation has played a pivotal role in the economic and social development of Satara. Due to the contribution of Cooper Corporation, the historic town of Satara has constantly witnessed a new wave of industrialization without losing its rich cultural heritage. Cooper Corporation’s ceaseless commitment to quality, service and product innovation has consistently kept pace with the changing market needs worldwide. The company’s rapid strides in the global market bear testimony to this fact. Cooper employs over 2000 people comprising engineers, quality control personnel, workmen and administrative staff recruited from the leading educational and technical institutions following a rigorous induction process that strikes a judicious blend of academic expertise and professional exposure. Over the years, the company has consistently invested in the latest state-of-the-art technology across 75 acres of land in Satara through the engagement of experienced consultants from the world over. The company has invested in 15 windmills and has set-up its own R and D unit to explore the possibilities of developing new products.

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 records 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] 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.55.74
UK Pound	1	Rs.84.17
Euro	1	Rs.72.03

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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
TOTAL		60

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.