MIRA INFORM REPORT

Report Date :

30.11.2013

IDENTIFICATION DETAILS

Name :	MM AQUA TECHNOLOGIES LIMITED
Registered Office :	Behrampur Road, Khandsa, District Gurgaon-122001, Haryana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	02.11.1988
Com. Reg. No.:	05-035848
Capital Investment / Paid-up Capital :	Rs.55.824 Millions
CIN No.: [Company Identification No.]	U00899HR1988PLC035848
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in Manufacture of PVC Fill Media and Profiles for Application in Cooling Towers and Effluent and Water Treatment Plant and Dealing in Related Goods.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 755056
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears sharp dip in profit of the company during the financial year 2013. However, General financial position of the company appears to be sound and healthy. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered of business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

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

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

INDIAN ECONOMIC OVERVIEW

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the traqde deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

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 :	Behrampur Road, Khandsa, District Gurgaon-122001, Haryana, India
Tel. No.:	91-124-2215134/2215253
Fax No.:	91-124-2215135
E-Mail :	dollyroy@mmaqua.com

DIRECTORS

AS ON 01.06.2012

Name :

Mr. Madan Mohan Mohanka

Designation :

Managing Director

Address :

146, Block G, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

13.08.1943

Date of Appointment :

02.11.1988

Din No.:

00049388

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	Company/ LLP Status	Defaulting status
1	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Managing director	01/03/2012	15/05/1976	Active	NO
2	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	02/11/1988	02/11/1988	Not Available for eFiling	NO
3	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Managing director	02/11/1988	02/11/1988	Active	NO
4	U29191DL1990PLC042369	MM AQUA TECHNOLOGIES LIMITED	Managing director	12/12/1990	12/12/1990	Not Available for eFiling	NO
5	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LTD	Director	10/07/1991	10/07/1991	Active	NO
6	U26999WB1995PTC068552	HIGH VALUE EQUIPMENT PRIVATE LIMITED	Whole-time director	21/02/1995	21/02/1995	Amalgamated	NO
7	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Director	10/10/2001	10/10/2001	Active	NO
8	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LIMITED	Whole-time director	26/05/2005	26/05/2005	Active	NO
9	U29306WB2007PLC112823	MM-NERIFILL (INDIA) LIMITED	Director	27/01/2007	27/01/2007	Active	NO
10	U67120WB1996PTC079527	NIHAL FISCAL SERVICES PRIVATE LIMITED	Director	01/02/2007	01/02/2007	Active	NO
11	U74910WB2007PTC114282	TRAFALGAR CONSULTING INTERNATIONAL COMPANY PRIVATE LIMITED	Director	20/03/2007	20/03/2007	Active	NO
12	U45206HR2008PTC038556	MM ROSEWOOD BUILDINFRA PRIVATE LIMITED	Director	28/11/2008	28/11/2008	Active	NO
13	U05004HR2008PTC038600	MM AQUA FILL PRIVATE LIMITED	Director	11/12/2008	11/12/2008	Active	NO
14	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	Active	NO
15	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	Active	NO

Name :

Mr. Mehul Mohanka

Designation :

Director

Address :

146, Block G, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

03.02.1975

Date of Appointment :

22.06.1994

Din No.:

00052134

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	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	22/06/1994	22/06/1994	-	Active	NO
2	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Whole-time director	01/06/2008	06/06/2002	-	Active	NO
3	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LIMITED	Whole-time director	15/10/2004	15/10/2004	21/12/2011	Active	NO
4	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LIMITED	Whole-time director	26/05/2005	26/05/2005	-	Active	NO
5	U67120WB1996PTC079527	NIHAL FISCAL SERVICES PRIVATE LIMITED	Director	01/02/2007	01/02/2007	-	Active	NO
6	U74910WB2007PTC114282	TRAFALGAR CONSULTING INTERNATIONAL COMPANY PRIVATE LIMITED	Director	20/03/2007	20/03/2007	-	Active	NO
7	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Director	29/09/2008	16/05/2008	-	Active	NO
8	U45206HR2008PTC038556	MM ROSEWOOD BUILDINFRA PRIVATE LIMITED	Director	28/11/2008	28/11/2008	-	Active	NO
9	U05004HR2008PTC038600	MM AQUA FILL PRIVATE LIMITED	Director	11/12/2008	11/12/2008	-	Active	NO
10	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
11	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO

Name :

Mr. Amar Nath Sadhu

Designation :

Director

Address :

73/1A, Palm Avenue, Kolkata-700047, West Bengal, India

Date of Birth/Age :

02.10.1939

Date of Appointment :

07.04.1996

Din No.:

00052579

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	Company/ LLP Status	Defaulting status
1	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	07/04/1996	07/04/1996	Active	NO
2	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	07/04/1996	07/04/1996	Not Available for eFiling	NO
3	L27202OR1989PLC002971	IFGL REFRACTORIES LIMITED	Director	29/01/2001	29/01/2001	Active	NO
4	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	22/11/2001	22/11/2001	Active	NO
5	U85195WB1998PTC088562	HERITAGE HEALTH TPA PRIVATE LIMITED	Director	07/06/2002	07/06/2002	Active	NO
6	U19129WB1981PLC034337	KHADIM INDIA LIMITED	Director	08/03/2006	08/03/2006	Active	NO
7	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	Active	NO

Name :

Mr. Manoj Basu

Designation :

Director

Address :

18/1C, Uday Sankar Sarani, Golf Garden, Kolkata-700053, West Bengal, India

Date of Birth/Age :

01.07.1946

Date of Appointment :

15.02.1998

Din No.:

00591088

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	Company/ LLP Status	Defaulting status
1	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	15/02/1998	15/02/1998	Active	NO
2	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	15/02/1998	15/02/1998	Not Available for eFiling	NO
3	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LIMITED	Director	26/05/2005	26/05/2005	Active	NO
4	U27203WB1975PLC029939	T P W ENGINEERING LIMITED	Director	23/11/2006	23/11/2006	Active	NO

Name :

Mr. Bhalchandra Bhaskar Bhalerao

Designation :

Director

Address :

284, Hanuman Nagar, Nagpur-440009, Maharashtra, India

Date of Birth/Age :

14.02.1937

Date of Appointment :

17.08.2000

Din No.:

02548003

Name :

Mr. Viji Aravamudhan Iyengar

Designation :

Director

Address :

AA-17, Sector I, Salt Lake City, Kolkata-700064, Maharashtra, India

Date of Birth/Age :

10.08.1938

Date of Appointment :

28.04.2006

Din No.:

00064970

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	L27109WB1928PLC006190	BESCO LIMITED	Director	29/03/1993	29/03/1993	-	Active	NO
2	U85195WB1990SGC049515	GLUCONATE HEALTH LIMITED	Director	27/03/2001	27/03/2001	19/07/2007	Active	NO
3	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Additional director	18/07/2008	10/10/2001	-	Active	NO
4	U85195WB1961SGC025168	ELECTRO MEDICAL AND ALLIED INDUSTRIES LTD	Director	29/05/2002	29/05/2002	15/03/2010	Active	NO
5	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
6	L51909WB1947PLC014515	JARDINE HENDERSON LIMITED	Director	25/07/2002	25/07/2002	-	Active	NO
7	L51109WB1938PLC009490	ALBERT DAVID LTD	Director	31/10/2002	31/10/2002	-	Active	NO
8	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LTD	Director	29/05/2005	29/05/2005	-	Active	NO
9	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Not Available for eFiling	NO
10	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	28/06/2006	28/06/2006	-	Active	NO
11	L67190WB1983PLC035658	VCK CAPITAL MARKET SERVICES LIMITED	Director	17/09/2008	31/07/2008	-	Active	NO
12	U93000MH2011PTC218782	JUGAAD VENTURES PRIVATE LIMITED	Director	17/06/2011	17/06/2011	-	Active	NO
13	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	29/09/2012	20/12/2011	-	Active	NO
14	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LIMITED	Director	27/07/2012	21/12/2011	-	Active	NO
15	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO
16	U45202WB2003NPL096324	CALCUTTA PROMOTIONS	Director	26/05/2012	31/03/2012	-	Active	NO

Name :

Mr. Raj Kumar Pal

Designation :

Director

Address :

Flat No. B 103, F/F Navrattan Apartment, Plot No. 7A, Sector 23, Dwarka, New Delhi-110075, India

Date of Birth/Age :

09.04.1954

Date of Appointment :

31.03.2008

Din No.:

01962212

Name :

Mr. Kalyan Kumar Chattopadhyay

Designation :

Director

Address :

4 C, 4D, 63, Purna Das Road, Kolkata-700029, West Bengal, India

Date of Birth/Age :

05.10.1948

Date of Appointment :

10.05.2011

Din No.:

01336202

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	U45203WB2006PLC111712	JAIN INFRAPROJECTS LIMITED	Whole-time director	19/02/2007	19/02/2007	31/10/2007	Active	NO
2	L51900MH1985PLC035670	UNIWORTH SECURITIES LIMITED	Additional director	29/10/2009	29/10/2009	13/08/2010	Active	NO
3	L51226WB1992PLC055739	UNIWORTH INTERNATIONAL LIMITED	Additional director	30/10/2009	30/10/2009	12/08/2010	Active	NO
4	U01122MH1997PLC105543	INDOWORTH INDIA LIMITED	Additional director	30/10/2009	30/10/2009	31/07/2010	Active	NO
5	L17299WB1992PLC055442	UNIWORTH TEXTILES LIMITED	Additional director	30/10/2009	30/10/2009	12/08/2010	Active	NO
6	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	30/09/2011	10/05/2011	-	Active	NO
7	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Whole-time director	30/09/2011	11/05/2011	-	Active	NO

Name :

Mr. Manish Mohanka

Designation :

Whole Time Director

Address :

147, Block G, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

20.05.1971

Date of Appointment :

30.11.2009

Din No.:

00052283

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	Company/ LLP Status	Defaulting status
1	U27203WB1975PLC029939	T P W ENGINEERING LIMITED	Whole-time director	30/09/1993	30/09/1993	Active	NO
2	U29306WB2007PLC112823	MM-NERIFILL (INDIA) LIMITED	Director	27/01/2007	27/01/2007	Active	NO
3	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Whole-time director	01/12/2009	01/12/2009	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 01.06.2012

Names of Shareholders	No. of Shares
Madan Mohan Mohanka	805510
Manoj Mohanka	412320
Madan Mohan Mohanka HUF	70350
Manish Mohanka	300000
Marudhar Food and Credit Limited, India	1138500
Mehul Mohanka HUF	8500
Nameeta Redhu Mohanka	100
Nihal Fiscal Services Private Limited, India	2847120
TOTAL	5582400

AS ON 01.06.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	71.00
Directors or relatives of directors	29.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Manufacture of PVC Fill Media and Profiles for Application in Cooling Towers and Effluent and Water Treatment Plant and Dealing in Related Goods.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Citi Bank N.A., DLF Square, M Block, Jacaranda Marg, DLF City, Phase II, Gurgaon-122002, Haryana, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Rupee term loans banks	14.182	18.750
Rupee term loans financial institutions	4.675	4.675
Loans Repayable on Demand	90.973	40.195
TOTAL	109.830	63.620

Banking Relations :	--
Auditors :
Name :	Goenka Suresh and Associates Chartered Accountants
Address :	Chitrakoot Building (North), Office Number 26, Second Floor, 230 A, AJC Bose Road, Kolkata-700020, West Bengal, India
PAN No:	ADRPG5573G
Holding Company :	Nihal Fiscal Services Private Limited
Fellow Subsidiary :	· Tega Industries Limited · Maple Orgtech (India) Limited
Associates :	· TPW Engineering Limited · Marudhar Food and Credit Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5582400	Equity Shares	Rs.10/- each	Rs.55.824 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	55.824	55.824	55.824
(b) Reserves & Surplus	132.940	101.388	103.840
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	188.764	157.212	159.664
(3) Non-Current Liabilities
(a) long-term borrowings	18.858	23.425	27.071
(b) Deferred tax liabilities (Net)	5.833	1.873	1.286
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.042	0.845	0.809
Total Non-current Liabilities (3)	25.733	26.143	29.166
(4) Current Liabilities
(a) Short term borrowings	90.973	40.195	54.015
(b) Trade payables	29.114	27.545	17.894
(c) Other current liabilities	25.425	22.862	19.794
(d) Short-term provisions	14.033	13.352	1.662
Total Current Liabilities (4)	159.545	103.954	93.365
TOTAL	374.042	287.311	282.195
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	93.663	65.722	77..824
(ii) Intangible Assets	0.018	0.050	0.057
(iii) Capital work-in-progress	2.327	1.119	1.231
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.904	11.924	4.503
(e) Other Non-current assets	1.273	1.398	0.020
Total Non-Current Assets	101.185	80.213	83.635
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	56.178	56.286	69.788
(c) Trade receivables	164.044	137.017	113.156
(d) Cash and cash equivalents	38.408	2.256	6.634
(e) Short-term loans and advances	11.378	9.002	7.524
(f) Other current assets	2.848	2.535	1.458
Total Current Assets	272.856	207.096	198.560
TOTAL	545.712	414.192	282.195

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	578.141	485.261	439.906
		Other Income	4.923	1.710	4.365
		TOTAL (A)	583.064	486.971	444.271
Less	EXPENSES
		Consumption Materials Changes Inventories	340.381	299.227	282.515
		Purchases of Stock in Trade	7.530	8.027	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	5.319	(2.131)	0.000
		Manufacturing Services Costs	0.000	0.000	42.747
		Employee Related Expenses	42.105	36.645	35.405
		Administrative Selling Other Expenses	0.000	0.000	27.255
		Other Expenses	93.050	90.012	0.000
		Extraordinary items	0.000	(65.748)	0.000
		TOTAL (B)	488.385	366.032	387.922
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		94.679	120.939	56.349
Less	FINANCIAL EXPENSES (D)		13.164	11.306	6.283
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		81.515	109.633	50.066
Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.072	8.840	8.492
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		70.443	100.793	41.574
Less	TAX (H)		22.671	12.352	13.814
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		47.772	88.441	27.760
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings
		Other Earnings
	TOTAL EARNINGS		63.458	81.320	48.347
	IMPORTS
		Raw Materials
		Capital Goods	153.552	112.526	121.542
		Bought-Out Goods [Including WIP]
	TOTAL IMPORTS		153.552	112.526	121.542
	Earnings / (Loss) Per Share (Rs.)		8.56	15.84	4.97

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	8.19	18.16	6.25
Net Profit Margin (PBT/Sales)	(%)	12.18	20.77	9.45
Return on Total Assets (PBT/Total Assets}	(%)	19.01	35.39	14.91
Return on Investment (ROI) (PBT/Networth)		0.37	0.64	0.26
Debt Equity Ratio (Total Debt/Networth)		0.64	1.58	0.76
Current Ratio (Current Asset/Current Liability)		1.71	1.99	5.53

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	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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10350647	25/10/2012 *	30,000,000.00	Citibank N.A	DLF Square, M Block, Jacaranda Marg, DLF City Pha se II, Gurgaon, Haryana - 122002, INDIA	B64193527
2	10072805	05/09/2007	18,000,000.00	Citibank N.A	'Kanak Building', 41, Chowringhee Road, Kolkata, West Bengal - 700071, INDIA	A25439902
3	10064979	30/10/2012 *	150,000,000.00	Citi Bank N.A.	Kanak Building, 41 Chowringhee Road, Kolkata, Wes t Bengal - 700071, INDIA	B64660772
4	90059267	26/08/2005 *	61,700,000.00	PUNJAB NATIONAL BANK	74; JANPATH, NEW DELHI, Delhi, INDIA	-
5	90063202	14/08/2004	2,700,000.00	PUNJAB NATIONAL BANK	74; JANPATH, NEW DELHI, Delhi - 110001, INDIA	-

FIXED ASSETS:

· Freehold Land

· Building

· Plant and Machinery

· Office Equipments

· Furniture and Fixtures

· Vehicles

· Technical Know How Free

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] 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.62.39
UK Pound	1	Rs.102.06
Euro	1	Rs.84.97

INFORMATION DETAILS

Information Gathered by :	--
Report Prepared by :	SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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