MIRA INFORM REPORT

Report Date :

28.10.2013

IDENTIFICATION DETAILS

Name :	MARMI LAME S.R.L.
Registered Office :	Via Dorsale 54, 54100 Massa Ms
Country :	Italy
Financials (as on) :	2012
Date of Incorporation :	02/01/1967
Com. Reg. No.:	MS56979
Legal Form :	Limited Liability Company
Line of Business :	Manufacture of Hand Tools
No. of Employees :	11

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear

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)
Italy	A2	A2

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

ITALY - ECONOMIC OVERVIEW

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.

Source : CIA

Company Summary

Company Name MARMI LAME S.R.L.

Company Registration MS56979

Country IT

Activity Code 25731

Activity Description Manufacture of hand tools

Company Status Active

Latest Turnover 7,119,528.00 (EUR)

Latest Shareholders Equity 1,669,977.00 (EUR)

Profit Before Tax 146,001.00 (EUR)

Company Identification

Activities

Activity Code 25731

Activity Description Manufacture of hand tools

Activity Code 20594

Activity Description Manufacture of miscellaneous products for industrial use (including explosion proofing and antifreeze products)

Activity Code 284

Activity Description Manufacture of metal forming machinery and machine tools

Activity Code 46721

Activity Description Wholesale of iron ores, iron, steel and ferrous semi-finished metal products

Activity Code 467329

Activity Description Wholesale of other building materials

Activity Code 3511

Activity Description Production of electricity

Basic Information

Company Name MARMI LAME S.R.L.

Registered Company Name MARMI LAME S.R.L.

Company Registration Number MS56979

Country IT

VAT Registration Number 00061200457

Date of Company Registration 02/01/1967

Legal Form LIMITED LIABILITY COMPANY

Company Status Active

Principal Activity Code 25731

Principal Activity Description Manufacture of hand tools

Contact Address VIA DORSALE 54, 54100 MASSA MS

Contact Telephone Number /0585792792

Main Address

Address VIA DORSALE 54, 54100 MASSA MS

Telephone /0585792792

Email Addresses info@pec.marmilame.com

Current Directors Managers

Name ALESSANDRA MANUCCI

Address VIA PISTOIA 5, 54100 MASSA MS

Gender Female

Date of Birth 28/04/1977

Position BOARD-MEMBER

Date Appointed 16/04/2012

Name GABRIELLA PICCININI

Address VIA PALESTRO 33, 54100 MASSA MS

Gender Female

Date of Birth 13/09/1942

Position MANAGING DIRECTOR

Date Appointed 16/04/2012

Name NICOLA CIANI

Address VIA GIOVANNI PASCOLI 36, 54100 MASSA MS

Gender Male

Date of Birth 14/12/1970

Position MANAGING DIRECTOR

Date Appointed 16/04/2012

Share Capital Structure

Issued Share capital 160,000.00 (EUR)

Name GABRIELLA PICCININI

Address VIA PALESTRO 33, 54100 MS

Name FRANCESCA CIANI

Address VIALE MALTA 3, 50100 FI

Name NICOLA CIANI

Address VIA GIOVANNI PASCOLI 36, 54100 MS

Name GIGLIOLA CIANI

Address VIALE ROMA 337, 54100 MS

Name M.C. DI MANUCCI ALESSANDRA & C. S.A.S.

Address VIA ALBERICA 54, 54100 MS

Employee Information

Year

Number of Employees 11

Financial Statements

Profit & Loss

Financial Year 2012 2011

Number of Weeks 0 0

Currency EUR EUR

Balance Sheet

Financial Year 2012 2011

Number of Weeks 0 0

Currency EUR EUR Consolidated Accounts False False

Land & Buildings 0.00 0.00

Plant & Machinery 0.00 0.00

Other Tangible Assets 1,961,479.00 2,110,316.00

Total Tangible Assets 1,961,479.00 2,110,316.00

Goodwill 0.00 0.00

Other Intangible Assets 0.00 0.00

Total Intangible Assets 0.00 0.00

Investments 0.00 0.00

Loans to Group 1,274.00 350,691.00

Other Loans 0.00 0.00

Miscellaneous Fixed

Assets 1,956.00 1,956.00

Total Other Fixed

Assets 3,230.00 352,647.00

Total Fixed Assets 1,964,709.00 2,462,963.00

Raw Materials 0.00 0.00

Work in Progress 0.00 0.00

Finished Goods 0.00 0.00

Other Inventories 337,923.00 307,170.00

Total Inventories 337,923.00 307,170.00

Trade Receivables 0.00 0.00

Group Receivables 0.00 0.00

Receivables Due

after 1 year 16,312.00 0.00

Miscellaneous

Receivables 2,410,576.00 2,535,833.00

Total Receivables 2,426,888.00 2,535,833.00

Cash 364,339.00 60,997.00

Other Current Assets 11,178.00 45,097.00

Total Current Assets 3,140,328.00 2,949,097.00

Total Assets 5,105,037.00 5,412,060.00

Trade Payables 0.00 0.00

Bank Liabilities 0.00 0.00

Other Loans/Finance 0.00 0.00

Group Payables 0.00 0.00

Miscellaneous

Liabilities 2,489,421.00 2,436,299.00

Total Current

Liabilities 2,489,421.00 2,436,299.00

Trade Payables

due after 1 year 0.00 0.00

Bank Liabilities

due after 1 year 0.00 0.00

Other Loans/ Finance

Due after 1 Year 0.00 0.00

Group Payables

due after 1 year 0.00 0.00

Miscellaneous Liabilities

Due After 1 year 945,639.00 1,266,387.00

Total Long Term Liabilities	945,639.00	1,266,387.00
Total Liabilities	3,435,060.00	3,702,686.00
Called Up Share Capital	160,000.00	160,000.00
Share Premium	0.00	0.00
Revenue Reserves	913,383.00	1,035,796.00
Other Reserves	596,594.00	513,578.00
Total Shareholders Equity	1,669,977.00	1,709,374.00
Other Financials
Contingent Liabilities	6222202	6299529
Working Capital	634,595.00	512,798.00
Net Worth	1,669,977.00	1,709,374.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.63
UK Pound	1	Rs.99.94
Euro	1	Rs.84.14

INFORMATION DETAILS

Report Prepared by :

NIT

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	--

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%)

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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.