MIRA INFORM REPORT

Report Date :

08.10.2013

IDENTIFICATION DETAILS

Name :	FLSMIDTH PRIVATE LIMITED
Formerly Known As :	FLS AUTOMATION INDIA PRIVATE LIMITED
Registered Office :	'FLSmidth House", 34 Egatoor, Rajiv Gandhi Salai, Kelambakkam – 603103, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.04.2000
Com. Reg. No.:	18-044765
Capital Investment / Paid-up Capital :	Rs. 258.433 Millions
CIN No.: [Company Identification No.]	U26941TN2000PTC044765
TAN No.: [Tax Deduction & Collection Account No.]	CHEF02179C
PAN No.: [Permanent Account No.]	AAACF4997N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals industries and renders related services and also renders certain engineering, information technology and related services.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

A (67)

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 29120000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a subsidiary of FLSmidth Minerals Holding Aps, Denmark. It is a well established company having good track. There appears some dip in sales and profits during 2013. However, Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessman. Trade relations are trustworthy. Business is active. Payments are reported to be regular and as per commitments. Company can be considered good for 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Fund based facilities : “AA-”
Rating Explanation	High degree of safety and very low credit risk.
Date	September 10, 2012

Rating Agency Name	ICRA
Rating	Non fund based facilities (Short term) : “A1+”
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	September 10, 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DENIED BY

Name :	Mr.Vijay Gopal
Designation :	Head Finance
Contact No.:	91-44-47241000

LOCATIONS

Registered Office / Corporate Office:	'FLSmidth House", 34 Egatoor, Rajiv Gandhi Salai, Kelambakkam – 603103, Tamilnadu, India
Tel. No.:	91-44-47481000 / 27411000
Fax No.:	91-44-27470301 / 0302
E-Mail :	indiainfo@flsmidth.com
Overseas Office :	Located at · Denmark · USA · Germany

DIRECTORS

As on 28.12.2012

Name :

Mr. Narayanan Sankar

Designation :

Director

Address :

194, TTK Road, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

19.11.1945

Date of Appointment :

22.08.2006

DIN No.:

00007843

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	U65993TN1979PLC007711	SANMAR HOLDINGS LIMITED	Director	06/10/1980	06/10/1980	-	Active	NO
2	L26942TN1946PLC000931	THE INDIA CEMENTS LIMITED	Director	15/09/1989	15/09/1989	15/09/2007	Active	NO
3	U65991TN1921NPL001337	CHENNAI WILLINGDON CORPORATE FOUNDATION	Director	28/04/1991	28/04/1991	-	Active	NO
4	U29296TN1984PLC011377	F.L.SMIDTH LIMITED	Director	10/12/1997	10/12/1997	21/07/2006	Amalgamated	NO
5	U14299TN1996PTC034056	FLSMIDTH MINERALS PRIVATE LIMITED	Alternate director	11/12/1997	11/12/1997	18/03/2009	Amalgamated	NO
6	U91990TN1999NPL042106	CHENNAI HERITAGE	Director	22/03/1999	22/03/1999	-	Active	NO
7	U73100TN2002NPL050076	SHL RESEARCH FOUNDATION	Director	24/02/2003	24/02/2003	22/03/2013	Active	NO
8	U45202TN1991PTC021010	NS FAMILY CONSOLIDATIONS PRIVATE LIMITED	Director	02/05/2003	02/05/2003	-	Active	NO
9	U65991TN1991PTC021007	NS FAMILY INVESTMENTS P LIMITED	Director	02/05/2003	02/05/2003	-	Active	NO
10	U65991TN1990PLC019237	SHL SECURITIES (ALPHA) LIMITED	Director	29/09/2012	01/04/2004	-	Active	NO
11	L19201WB1931PLC007261	BATA INDIA LIMITED	Director	02/02/2005	02/02/2005	28/07/2011	Active	NO
12	U65991TN1991PTC021532	N SANKAR PROPERTIES AND HOLDINGS PRIVATE LIMITED	Director	26/05/2005	26/05/2005	-	Active	NO
13	L99999MH1961PLC012003	NOCIL LIMITED	Director	29/07/2005	29/07/2005	-	Active	NO
14	U74990TN1991PTC021361	N K TRADING AND CONSULTANCY PRIVATE LIMITED	Director	06/02/2006	06/02/2006	-	Active	NO
15	U74999TN2005PTC057945	V S TRADING AND CONSULTANCY PRIVATE LIMITED	Director	06/02/2006	06/02/2006	-	Active	NO
16	U74999TN2005PTC057947	M SANKAR TRADING AND CONSULTANCY PRIVATE LIMITED	Director	06/02/2006	06/02/2006	-	Active	NO
17	U74999TN2005PTC057946	C SANKAR TRADING AND CONSULTANCY PRIVATE LIMITED	Director	06/02/2006	06/02/2006	-	Active	NO
18	U74999TN1992PTC022029	STARGATE ENTERPRISES PRIVATE LIMITED	Director	03/04/2006	03/04/2006	08/12/2008	Active	NO
19	U26941TN2000PTC044765	FLSMIDTH PRIVATE LIMITED	Director	22/08/2006	22/08/2006	-	Active	NO
20	U29199TN2001PLC047307	SANMAR CONSOLIDATIONS LIMITED	Director	29/09/2011	06/06/2011	-	Active	NO

Name :

Mr. Natrajan Sridharan

Designation

Director

Address :

D-2, New No.4, Old No.40, Saravana Street, T. Nagar, Chennai – 600017, Tamilnadu, India

Date of Birth/Age :

19.09.1952

Date of Appointment :

23.09.2011

DIN No.:

01192398

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	U29296TN1984PLC011377	F.L.SMIDTH LIMITED	Director	21/07/2006	21/07/2006	-	Amalgamated	NO
2	U26941TN2000PTC044765	FLSMIDTH PRIVATE LIMITED	Director	23/09/2009	19/08/2009	-	Active	NO

Name :

Bjarne Moltke Hansen

Designation :

Managing Director

Address :

2151, Dr. Rajangardens, Uthandi – 600119, Tamilnadu, India

Date of Birth/Age :

11.10.1961

Date of Appointment :

06.05.2010

DIN No.:

03073824

Name :

Vegulaparanan Kasi Viswanathan

Designation :

Director

Address :

15 A1, Palace Road, Bangalore – 560052, Karnataka, India

Date of Birth/Age :

20.11.1950

Date of Appointment :

29.09.2011

DIN No.:

01782934

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	L85110KA1951PLC000761	Bosch Limited	Director	01/01/2013	01/11/2007		-	Active	NO
2	U51109KA1992PTC013736	MICO TRADING PRIVATE LIMITED	Director	27/02/2008	07/01/2008		01/01/2013	Active	NO
3	U72400KA1997PLC023164	Robert Bosch Engineering and Business Solutions Limited	Director	31/01/2008	31/01/2008		31/12/2012	Active	NO
4	U34300PN1982PLC027224	BOSCH CHASSIS SYSTEMS INDIA LIMITED	Director	01/02/2008	01/02/2008		31/12/2012	Active	NO
5	U29120GJ1974PLC002468	BOSCH REXROTH (INDIA) LIMITED	Director	01/02/2008	01/02/2008		31/12/2012	Active	NO
6	U99999MH1956NPL009708	THE INDO GERMAN CHAMBER OF COMMERCE	Director	07/04/2008	07/04/2008		-	Active	NO
7	U31103TN2008PTC067493	BOSCH ELECTRICAL DRIVES INDIA PRIVATE LIMITED	Director	25/04/2008	25/04/2008		31/12/2012	Active	NO
8	U29221KA2008PTC045987	Bosch Automotive Electronics India Private Limited	Director	29/09/2009	01/01/2009		01/01/2013	Active	NO
9	U29120PN1994PTC079126	HAGGLUNDS DRIVES (INDIA) PRIVATE LIMITED	Director	02/09/2010	02/09/2010		-	Amalgamated	NO
10	U29300MH1997PTC110691	BSH HOME APPLIANCES PRIVATE LIMITED	Additional director	09/12/2010	09/12/2010		29/10/2012	Active	NO
11	U26941TN2000PTC044765	FLSMIDTH PRIVATE LIMITED	Director	29/09/2011	05/05/2011		-	Active	NO
12	U34200PN2011PLC140066	Foundation Brake Manufacturing Limited	Director	05/07/2011	05/07/2011		31/05/2012	Active	NO
13	U29253MH2011FTC218407	BSH Household Appliances Manufacturing Private Limited	Director	29/10/2012	29/10/2012		-	Active	NO

Name :

Ben Guren

Designation :

Director

Address :

Havneholmen 74, 3tv, 1561, Kobenhavn V

Date of Birth/Age :

04.06.1960

Date of Appointment :

28.12.2012

DIN No.:

05298100

Name :

Per Mejnert Kristensen

Designation :

Director

Address :

Skovduevej 20, 2970 Horsholm

Date of Birth/Age :

03.08.1967

Date of Appointment :

28.12.2012

DIN No.:

05298109

Name :

Carsten Riisberg Lund

Designation :

Director

Address :

Wallerfanger, Strabe 25, 66740, Saarlouis

Date of Birth/Age :

03.12.1962

Date of Appointment :

28.12.2012

DIN No.:

06375501

Name :

Peter James Flanagan

Designation :

Director

Address :

13181, Woodridge Oak, Dr. Draper Ut 84020, Draper

Date of Birth/Age :

13.06.1965

Date of Appointment :

28.12.2012

DIN No.:

06375493

KEY EXECUTIVES

Name :	Mr. Viraraghavan Vijayagopal
Designation :	Secretary
Address :	GF 2, Akshaya, 12, Chamie, R S Road, Nandanam, Chennai – 600035, Tamilnadu, India
Date of Birth/Age :	27.05.1962
Date of Appointment :	06.11.2000
PAN No.:	AADPV2272J
Name :	Mr.Vijay Gopal
Designation :	Head Finance

MAJOR SHAREHOLDERS

As on 28.12.2012

Names of Shareholders	No. of Shares
FLSmidth Minerals Holding Aps, Denmark	1699900
FLSmidth Minerals Holding Aps and FLSmidth A/S, Denmark	100
FLSmidth Minerals Holding Aps, Denmark	24143314
Total	25843314

As on 28.12.2012

Equity Share Break up (Percentage of Total Equity)

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

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals industries and renders related services and also renders certain engineering, information technology and related services.

Products :

Item Code No. (ITC Code)	Product Description
84198900	Cement Machineries
99611889	Other general purpose machinery and parts thereof n.e.c.

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· Canara Bank, Karim Mansion, 787 Mount Road, Chennai- 600002, Tamilnadu, India

· ICICI Banking Corporation Limited, 110 Mahatma Gandhi Salai, Chennai - 600034, Tamil Nadu, India

· Abn-Amro Bank, 19/1, Haddows Road, Chennai - 600006, Tamil Nadu, India

· Karnataka Bank Limited, Fort Branch, Maharashtra, India

· ICICI Bank Limited, No. 110 Prakash Presidium, Nungambakkam High Road, Chennai - 600034, Tamilnadu, India

· Corporation Bank, M-3 and 4, Greater Kailash-Ii, New Delhi - 110048, India

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long term borrowings
Other loans and advances	0.000	0.979
Total	0.000	0.979

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	ASV 'N' Ramana Tower, No.52, Venkatnarayana Road, T.Nagar, Chennai – 600017, Tamilnadu, India
PAN No. :	AACFD3771D
Ultimate Holding Company :	FLSmidth and Co A/S, Denmark
Holding Company of FLSmidth Minerals Holding ApS , Denmark :	FLSmidth A/S, Denmark
Holding Company :	FLSmidth Minerals Holding ApS , Denmark
Subsidiary Company :	· EEL India Private Limited CIN No. :U51909TN1988PTC087018 · Transweigh (India) Limited
Fellow Subsidiaries :	· FLSmidth Minerals A/S, Denmark · FLSmidth Airloq A/S, Denmark · FLS MILJØ A/S, Denmark · FLSmidth Inc., USA · FLSmidth Krebs Inc. USA · FLSmidth Salt Lake City, Inc., USA · FLSmidth Boise Inc., USA · FLSmidth Spokane Inc., USA · FLSmidth Dorr-Oliver Inc., USA · FLSmidth Pty Limited, Australia · FLSmidth ABON Pty Limited, Australia · FLSmidth Machinery Industry (Qingdao) Limited, China · FLSmidth Machinery Industry (Qingdao) Limited, China · FLSmidthWiesbaden GmbH , Germany · FLSmidth Hamburg GmbH, Germany · FLSmidthWadgassen GmbH, Germany · FLSmidth Pfister GmbH, Germany · FLSmidth Maag gear AG, Switzerland · FLSmidthMilano S.r.l , Italy · FLSmidth Ventomatic SPA, Italy · FLSmidth Kovako B.V., Netherland · FL Smidth SA, Spain · NL Supervision Company A/S, UAE, ( Middle East) · FLSmidth Limited, UK · FLSmidth (Pty) Limited, South Africa · FLS Automation South Africa (Pty.) Limited, South · FLSmidthMaag Gear SP. Z.O.O., Poland · FLSmidth , Canada · FLSmidth Ltda , Brazil · FLSmidthWuppertal GmbH, Germany · FLSmidth Spol. S.r.o., Czech Republic · FLSmidth Rus OOO, Russia · SLS Corporation, USA · ESSA Australia Limited, Australia · Excel Foundry and Machine Inc, USA · FLSmidth (Jersey) Limited, UK · FLSmidth SA, Chile · FLSmidth GmbH, Austria · PT FLSmidth , Indonesia · FLSmidth A/s, UAE Branch

Note: Related Party relationships are as identified by the Management and relied upon by the Auditors.

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
27000000	Equity Shares	Rs.10/- each	Rs.270.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25843314	Equity Shares	Rs.10/- each	Rs.258.433 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	258.433	258.433
(b) Reserves & Surplus	7021.744	6448.131
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	7280.177	6706.564
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.979
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	625.564	496.490
(d) long-term provisions	48.424	25.678
Total Non-current Liabilities (3)	673.988	523.147
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	3241.556	2300.281
(c) Other current liabilities	4443.858	6834.959
(d) Short-term provisions	1219.970	872.232
Total Current Liabilities (4)	8905.384	10007.472
TOTAL	16859.549	17237.183
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1779.619	1784.559
(ii) Intangible Assets	0.282	2.363
(iii) Capital work-in-progress	30.905	16.443
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	2279.020	1616.743
(c) Deferred tax assets (net)	93.299	72.529
(d) Long-term Loan and Advances	446.295	179.718
(e) Other Non-current assets	879.328	740.657
Total Non-Current Assets	5508.748	4413.012
(2) Current assets
(a) Current investments	160.376	1108.228
(b) Inventories	627.388	596.100
(c) Trade receivables	6474.732	6866.510
(d) Cash and cash equivalents	1342.459	840.552
(e) Short-term loans and advances	1406.362	1869.998
(f) Other current assets	1339.484	1542.783
Total Current Assets	11350.801	12824.171
TOTAL	16859.549	17237.183

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		268.433
2] Share Application Money		0.000
3] Reserves & Surplus		5909.758
4] (Accumulated Losses)		0.000
NETWORTH		6178.191
LOAN FUNDS
1] Secured Loans		16.160
2] Unsecured Loans		0.000
TOTAL BORROWING		16.160
DEFERRED TAX LIABILITIES		57.990
TOTAL		6252.341
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1684.731
Capital work-in-progress		3.998
INVESTMENT		2492.813
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	463.581
	Sundry Debtors	5648.149
	Cash & Bank Balances	976.038
	Other Current Assets	1864.064
	Loans & Advances	2174.031
Total Current Assets		11125.863
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3055.846
	Other Current Liabilities	5266.728
	Provisions	732.490
Total Current Liabilities		9055.064
Net Current Assets		2070.799
MISCELLANEOUS EXPENSES		0.000
TOTAL		6252.341

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	18678.980	19853.820	14873.758
		Other Income	211.276	407.951	223.815
		TOTAL	18890.256	20261.771	15097.573
Less	EXPENSES
		TOTAL	17690.468	18682.857	13313.643
	PROFIT BEFORE TAX		1199.788	1578.914	1783.930
Less	TAX		603.164	586.428	594.756
	PROFIT AFTER TAX		596.624	992.486	1189.174
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		3291.965	2309.479	1112.233
Less	APPROPRIATIONS
		Transfer to Capital Redemption Reserve	0.000	10.000	0.000
		Transfer to Foreign Projects Reserves Account	0.000	0.000	(8.072)
	BALANCE CARRIED TO THE B/S		3888.589	3291.965	2309.479
	EARNINGS IN FOREIGN CURRENCY
		Contract Revenue	58.660	250.000
		Export of Spares, Parts and Components	262.494	123.708
		Sale from Services	1936.853	1593.283
		Commission Received	3.781	3.292
		Recovery of Costs	55.887	37.539
		Dividend Income	0.237	0.000
	TOTAL EARNINGS		2317.912	2007.822	1739.177
	IMPORTS
		Raw material	5.985	22.272	47.642
		Capital Goods	14.099	7.774	9.692
		Spares, Parts and Components	1885.836	2162.820	1086.073
	TOTAL IMPORTS		1905.92	2192.866	1143.407
	Earnings Per Share (Rs.)		23.09	37.89	44.29

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.16	4.90	7.88
Net Profit Margin (PBT/Sales)	(%)	6.42	7.95	11.99
Return on Total Assets (PBT/Total Assets}	(%)	8.30	10.17	13.93
Return on Investment (ROI) (PBT/Networth)		0.16	0.24	0.29
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.27	1.28	1.23

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	Yes
10]	Designation of contact person	Yes
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	Yes
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	Yes

LITIGATION DETAILS

CHENNAI COURT
CASE STATUS INFORMATION SYSTEM

Case Status:	Pending
Status Of:	APPLICATION
Case No.:	877
Year :	2013
Petitioner :	ENGINEERING PROJECTS
Respondent :	FLSMIDTH PRIVATE LIMITED
Pet's Advocate :	K.THYAGARAJAN
Res's Advocate :
Category :	NO CATEGORY MENTIONED
	Last Listed on: No Date Mentioned
Case Updated on :	Feb 22 2013

INDEX OF CHARGE:

Sr .No	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10066649	21/05/2009 *	733,100,000.00	CORPORATION BANK	M-3 and 4, GREATER KAILASH-II, NEW DELHI - 110048, INDIA	A65585572
2	80004080	21/05/2009 *	733,100,000.00	CORPORATION BANK	M-3 and 4, GREATER KAILASH-II, NEW DELHI - 110048, INDIA	A65586653
3	80004082	21/05/2009 *	733,100,000.00	CORPORATION BANK	M-3 and 4, GREATER KAILASH-II, NEW DELHI - 110048, INDIA	A65588097
4	80004081	21/05/2009 *	733,100,000.00	CORPORATION BANK	M-3 and 4, GREATER KAILASH-II, NEW DELHI - 110048, INDIA	A65588634

* Date of modification charge

CORPORATE INFORMATION

The Company was incorporated on 18 April 2000 and is a subsidiary of FLSmidth Minerals Holding ApS, Denmark. The Ultimate Holding Company is FLSmidth and Company A/S, Denmark. The Company is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals industries and renders related services. The Company also renders certain engineering, information technology and related services to its Group Companies.

PROPOSED SCHEME OF AMALGAMATION OF EEL INDIA PRIVATE LIMITED

EEL India Private Limited ("EEL") was incorporated on 13 April 1988. During the year ended 31 March 2010, the equity shares of EEL were acquired by the Company and EEL became a wholly owned subsidiary of the Company. EEL is engaged in manufacturing of Bag Packing (Roto Packers) and Bag Loading Systems, Silo feeding and extraction system, Belt and Chain type bucket elevators, Bulk loading systems and other material handling equipment for Cement, Chemical, Fertilizer, Sugar and other industries.

The Board of Directors of the Company on 2 August 2012, approved the Scheme of Amalgamation under Sections 391 to 394 of the Companies Act, 1956, involving the amalgamation of EEL with the Company, with effect from 1 April 2011 (the Appointed Date). The parties to the Scheme of Amalgamation have filed applications dated 10 August 2012 for sanction of the Scheme by the Hon’ble High Court of Judicature at Madras, which are pending to be approved as on date of approval of the financial statements of the Company.As per the proposed Scheme of details of assets / liabilities appearing in the books of EEL as at the appointed date, proposed to be merged into the Company.

FIXED ASSETS:

· Land

· Buildings

· Office Building

· Factory Building

· Plant and Equipment

· Other plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Other Equipments

· 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 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. 61.78
UK Pound	1	Rs. 99.06
Euro	1	Rs. 83.84

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		67

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.