MIRA INFORM REPORT

Report Date :

20.09.2013

IDENTIFICATION DETAILS

Name :	KARAMTARA ENGINEERING PRIVATE LIMITED
Registered Office :	705, Morya Landmark II, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.05.1996
Com. Reg. No.:	11-099333
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U45207MH1996PTC099333
TAN No.: [Tax Deduction & Collection Account No.]	MUMK07352C
PAN No.: [Permanent Account No.]	AABCK1921E
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacturing, constructing, installing, building, reinforcing towers of all kinds including steel towers, cement towers and towers of other material and to manufacture, trade and deal in all types of nut bolts, fasteners, pre-fabricated construction material and to generate, distribute transmit and supply all kinds of power including thermal power, hydel power, wind power, solar power, allied power transmission linked equipments.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 2160000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track record. The company has seen a significant increase in its sales turnover during 2012. Financial position appears to be sound. Trade relations are fair. Business is active. Payment terms are reported as usually correct. The company can be considered 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	Long term fund based limits : “BBB+”
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	February, 2013

Rating Agency Name	ICRA
Rating	Short term fund based limits : “A2+”
Rating Explanation	Strong degree of safety and low credit risk.
Date	February, 2013

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 DECLINED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-26731000)

LOCATIONS

Registered Office :	705, Morya Landmark II, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-26731000 / 40710000
Fax No.:	91-22-26731015
E-Mail :	prasad.oak@karamtara.com prasanta@karamtara.com kcpl@sancharnet.in sales@karamtara.com
Website :	www.karamtara.com
Factory :	Plot No. B-8/2, MIDC, Tarapur, Thane – 401506, Maharashtra, India
Tel. No.:	91-2525-261640
Fax No.:	91-2525-261540

DIRECTORS

As on 29.09.2012

Name :

Mr. Hanwant Manbir Singh

Designation :

Director

Address :

401, 4^th Floor, Goswani Towers, Jai Hind Society, 11^th NS Road, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

02.03.1938

Date of Appointment :

07.11.2001

PAN No.:

ADUPS2432D

DIN No.:

00583469

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	U45207MH1996PTC099333	KARAMTARA ENGINEERING PRIVATE LIMITED	Director	07/11/2001	07/11/2001	-	Active	NO
2	U28991MH2003PTC142645	KARAMTARA FASTENERS PRIVATE LIMITED	Director	13/10/2003	13/10/2003	-	Amalgamated	NO
3	U31200MH2005PTC153385	KARAMTARA STEEL PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Amalgamated	NO
4	U28100MH1973PLC016533	E M I TRANSMISSION LIMITED	Director	06/07/2006	06/07/2006	01/04/2012	Active	NO
5	U27104MH2004PTC144308	POONA GALVANIZERS PRIVATE LIMITED	Director	13/01/2008	13/01/2008	-	Active	NO
6	U28111DL2006PTC148519	SUNDER ROLLING MILLS PRIVATE LIMITED.	Director	09/09/2011	03/03/2011	-	Amalgamated	NO

Name :

Mr. Inderjeet Singh

Designation :

Director

Address :

401, 4^th Floor, Goswani Towers, Jai Hind Society, 11^th NS Road, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

10.12.1947

Date of Appointment :

08.05.1996

PAN No.:

ABUPS6070R

DIN No.:

01689417

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	U45207MH1996PTC099333	KARAMTARA ENGINEERING PRIVATE LIMITED	Director	08/05/1996	08/05/1996	-	Active	NO
2	U28991MH2003PTC142645	KARAMTARA FASTENERS PRIVATE LIMITED	Director	13/10/2003	13/10/2003	-	Amalgamated	NO
3	U31200MH2005PTC153385	KARAMTARA STEEL PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Amalgamated	NO

Name :

Mr. Tanveer Singh

Designation :

Director

Address :

401, 4^th Floor, Goswani Towers, Jai Hind Society, 11^th NS Road, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

21.01.1970

Date of Appointment :

08.05.1996

PAN No.:

AFXPS8197J

DIN No.:

01689287

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	U45207MH1996PTC099333	KARAMTARA ENGINEERING PRIVATE LIMITED	Director	08/05/1996	08/05/1996	-	Active	NO
2	U28991MH2003PTC142645	KARAMTARA FASTENERS PRIVATE LIMITED	Director	13/10/2003	13/10/2003	-	Amalgamated	NO
3	U27104MH2004PTC144308	POONA GALVANIZERS PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Active	NO
4	U31200MH2005PTC153385	KARAMTARA STEEL PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Amalgamated	NO
5	U93000MH2010PTC200627	KARAMTARA FINANCIAL SERVICES PRIVATE LIMITED	Director	08/03/2010	08/03/2010	-	Active	NO
6	U01403MH2010PTC200904	KARAMTARA AGROTECH PRIVATE LIMITED	Director	15/03/2010	15/03/2010	-	Active	NO
7	U45202MH2010PTC202907	KARAMTARA REALITY PRIVATE LIMITED	Director	10/05/2010	10/05/2010	-	Active	NO
8	U28111DL2006PTC148519	SUNDER ROLLING MILLS PRIVATE LIMITED	Director	09/09/2011	03/03/2011	-	Amalgamated	NO

Name :

Mr. Rajiv Singh

Designation :

Director

Address :

401, 4^th Floor, Goswani Towers, Jai Hind Society, 11^th NS Road, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

07.03.1973

Date of Appointment :

15.05.1996

PAN No.:

AMOPS1063P

DIN No.:

01689209

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	U45207MH1996PTC099333	KARAMTARA ENGINEERING PRIVATE LIMITED	Director	15/05/1996	15/05/1996	-	Active	NO
2	U28991MH2003PTC142645	KARAMTARA FASTENERS PRIVATE LIMITED	Director	13/10/2003	13/10/2003	-	Amalgamated	NO
3	U27104MH2004PTC144308	POONA GALVANIZERS PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Active	NO
4	U31200MH2005PTC153385	KARAMTARA STEEL PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Amalgamated	NO
5	U93000MH2010PTC200627	KARAMTARA FINANCIAL SERVICES PRIVATE LIMITED	Director	08/03/2010	08/03/2010	-	Active	NO
6	U01403MH2010PTC200904	KARAMTARA AGROTECH PRIVATE LIMITED	Director	15/03/2010	15/03/2010	-	Active	NO
7	U45202MH2010PTC202907	KARAMTARA REALITY PRIVATE LIMITED	Director	10/05/2010	10/05/2010	-	Active	NO
8	U28111DL2006PTC148519	SUNDER ROLLING MILLS PRIVATE LIMITED.	Director	09/09/2011	03/03/2011	-	Amalgamated	NO
9	U91110MH1999NPL122117	ENTREPRENEURS' ORGANIZATION MUMBAI	Director	15/07/2011	15/07/2011	31/03/2013	Active	NO
10	L45200MH2007PLC174147	PROZONE CAPITAL SHOPPING CENTRES LIMITED	Director	28/09/2012	20/04/2012	-	Active	NO
11	U70101MH2007PTC173672	ALLIANCE MALL DEVELOPERS CO PRIVATE LIMITED	Additional director	01/03/2013	01/03/2013	-	Active	NO

Name :

Ms. Gaitri Singh

Designation :

Director

Address :

401, 4^th Floor, Goswani Towers, Jai Hind Society, 11^th NS Road, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

20.09.1972

Date of Appointment :

07.11.2001

DIN No.:

01225861

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	U45207MH1996PTC099333	KARAMTARA ENGINEERING PRIVATE LIMITED	Director	07/11/2001	08/05/1996	-	Active	NO
2	U64203MH2007PTC174622	ZEON TELESERVICES PRIVATE LIMITED	Director	01/10/2007	01/10/2007	-	Strike off	NO

Name :

Ms. Sonal Singh

Designation :

Director

Address :

401, 4^th Floor, Goswani Towers, Jai Hind Society, 11^th NS Road, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

24.08.1972

Date of Appointment :

07.11.2001

PAN No.:

AOIPS6524B

DIN No.:

01277322

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	U45207MH1996PTC099333	KARAMTARA ENGINEERING PRIVATE LIMITED	Director	07/11/2001	08/05/1996	-	Active	NO
2	U64203MH2007PTC174622	ZEON TELESERVICES PRIVATE LIMITED	Director	01/10/2007	01/10/2007	-	Strike off	NO
3	U01403MH2010PTC200904	KARAMTARA AGROTECH PRIVATE LIMITED	Director	15/03/2010	15/03/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Prasad Arun Oak
Designation :	Secretary
Address :	506,Anil Apartment Chs, Near Vpm School, Off Mithagar Road, Mulund (East), Mumbai – 400081, Maharashtra, India
Date of Birth/Age :	16.05.1978
Date of Appointment :	01.03.2012
PAN No.:	AAHPO1985B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Inderjeet Singh	1250000
Tanveer Singh	1250000
Rajiv Singh	1250000
HanwantManbir Singh	1250000
Total	5000000

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacturing, constructing, installing, building, reinforcing towers of all kinds including steel towers, cement towers and towers of other material and to manufacture, trade and deal in all types of nut bolts, fasteners, pre-fabricated construction material and to generate, distribute transmit and supply all kinds of power including thermal power, hydel power, wind power, solar power, allied power transmission linked equipments.

Products :

Item Code No. (ITC Code)	Product Description
73082011	For transmission line

PRODUCTION STATUS

Particulars	Unit	31.03.2011
Licensed and Installed Capacity	MT PA	60000
Production	MT PA	43924.28

GENERAL INFORMATION

Customers :

· Power Grid Corporation of India Limited

· KEC International

· Jyoti Structures Limited

· Kalptaru Power Transmission

· Gammon India Limited

· EMCO

· TATA

· Vodafone

· Airtel

· NPCIL

No. of Employees :

Not Divulged

Bankers :

· Bank of Baroda, Meghdoot Building, Jn. of Linking Road And Turner Road, Bandra (West), Mumbai - 400050, Maharashtra, India

· Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing Mills Compound, Worli, Mumbai - 400025, Maharashtra, India

· ICICI Bank Limited, Shreeji Tower C-99, C-Scheme, Ahinsa Circle, Jaipur - 302001, Rajasthan, India

· ICICI Bank Limited, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

· IDBI Bank Limited, Ground Floor, Jeevan Nidhi Building, LIC Complex,
Bhawani Singh Road, Jaipur - 302005, Rajasthan, India

· Indusind Bank Limited, 425, Dadasaheb Bhadkamker Marg, Opera House, Mumbai - 400004, Maharashtra, India

· Punjab and Sind Bank, Juhu Branch, Amrapali Shopping Centre, Jvpd Scheme, Vileparle (West), Mumbai - 400049, Maharashtra, India

· Punjab National Bank, Plot No 237, Baba House, 27th Road, Bandra (West), Mumbai - 400050, Maharashtra, India

· Oriental Bank of Commerce, Shreejee Chambers, Tata Road No.2, Opera House, Mumbai - 400004, Maharashtra, India

· Standard Chartered Bank, 90, M G Road, Fort, Mumbai - 400001, Maharashtra, India

· Axis Bank Limited, Laxmi The Mall, Bldg No.5, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai - 400053, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	^(A)247.365	^(B)69.911
SHORT TERM BORROWINGS
Rupee term loans from banks	73.085	375.228
Total	320.450	445.139

NOTE

(A) ICICI Bank - Rs. 50.000 Millions Others - Rs. 187.500 Millions Vehicle Loan - Rs. 5.410 Millions Equipment Loan - Rs. 4.454 Millions

(B) Vehicle Loan - Rs. 10.454 Millions Equipment Loan - Rs. 13.300 Millions Loan against FDR - Rs. 46.157 Millions

Banking Relations :	--
Auditors :
Name :	Choksi and Choksi Chartered Accountant
Address :	15/17, Raghavji ‘B’ Building, Ground Floor, Raghavji Road, Off Kemps Corner, Mumbai - 400036, Maharashtra, India
Pan No.:	AAAFC2633B
Subsidiary company :	· Karamtara Fasteners Private Limited CIN No.: U28991MH2003PTC142645 · Karamtara Steel Private Limited CIN No.: U31200MH2005PTC153385 · Karamtara Italy SRL
Associate :	· Poona Galvanizers Private Limited CIN No.: U27104MH2004PTC144308 · Sunder Rolling Mills Private Limited CIN No.: U28111DL2006PTC148519
Other Related party :	Sonal Event and Management Services

CAPITAL STRUCTURE

After 29.9.2012

Authorised Capital : Rs. 410.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 50.000 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs. 50.000 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	50.000	50.000
(b) Reserves & Surplus	390.326	307.451
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	98.500	98.500
Total Shareholders’ Funds (1) + (2)	538.826	455.951
(3) Non-Current Liabilities
(a) long-term borrowings	491.323	168.752
(b) Deferred tax liabilities (Net)	40.637	34.332
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	2.114	1.816
Total Non-current Liabilities (3)	534.074	204.900
(4) Current Liabilities
(a) Short term borrowings	73.085	375.228
(b) Trade payables	1110.558	1064.301
(c) Other current liabilities	177.021	204.398
(d) Short-term provisions	24.719	10.013
Total Current Liabilities (4)	1385.383	1653.940
TOTAL	2458.283	2314.791
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	431.599	401.761
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	85.274	2.898
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	201.291	164.101
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	2.568	1.462
(e) Other Non-current assets	4.481	4.804
Total Non-Current Assets	725.213	575.026
(2) Current assets
(a) Current investments	4.699	5.396
(b) Inventories	348.002	515.628
(c) Trade receivables	889.297	832.690
(d) Cash and cash equivalents	252.483	238.462
(e) Short-term loans and advances	81.438	1.492
(f) Other current assets	157.151	146.097
Total Current Assets	1733.070	1739.765
TOTAL	2458.283	2314.791

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		50.000
2] Share Application Money		98.500
3] Reserves & Surplus		212.978
4] (Accumulated Losses)		0.000
NETWORTH		361.478
LOAN FUNDS
1] Secured Loans		142.996
2] Unsecured Loans		68.901
TOTAL BORROWING		211.897
DEFERRED TAX LIABILITIES		10.735
TOTAL		584.110
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		257.973
Capital work-in-progress		0.417
INVESTMENT		161.590
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	405.065
	Sundry Debtors	413.234
	Cash & Bank Balances	238.215
	Other Current Assets	0.000
	Loans & Advances	107.518
Total Current Assets		1164.032
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	812.127
	Other Current Liabilities	140.275
	Provisions	47.500
Total Current Liabilities		999.902
Net Current Assets		164.130
MISCELLANEOUS EXPENSES		0.000
TOTAL		584.110

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	4414.300	3311.500
		Other Income	NA	NA
		TOTAL	NA	NA	2413.533
Less	EXPENSES
		TOTAL	NA	NA	2141.544
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		157.900	162.400	271.989
Less	FINANCIAL EXPENSES		8.800	19.000	109.428
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		149.100	143.400	162.561
Less/ Add	DEPRECIATION/ AMORTISATION		21.600	17.200	27.161
	Exceptional Item (Excess due to change in Depreciation Method)		--	(40.200)	--
	PROFIT/ (LOSS) BEFORE TAX		127.500	166.400	135.400
Less	TAX		43.500	66.100	50.395
	PROFIT/ (LOSS) AFTER TAX		84.000	100.300	85.005
Less	Prior Period Item		--	--	1.692
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	NA	8.500
		Proposed Dividend	NA	NA	20.000
		Corporate Tax on Dividend	NA	NA	3.399
	BALANCE CARRIED TO THE B/S		NA	NA	51.414
	EARNINGS IN FOREIGN CURRENCY
		Export at FOB Value	17.800	0.718	0.000
	TOTAL EARNINGS		17.800	0.718	0.000
	Earnings / (Loss) Per Share (Rs.)		16.80	20.06	17.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	3.52
Net Profit Margin (PBT/Sales)	(%)	2.89	5.02	NA
Return on Total Assets (PBT/Total Assets}	(%)	5.87	7.75	9.52
Return on Investment (ROI) (PBT/Networth)		0.24	0.36	0.37
Debt Equity Ratio (Total Debt/Networth)		1.05	1.19	0.59
Current Ratio (Current Asset/Current Liability)		1.25	1.05	1.05

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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10436620	15/07/2013	1,000,000,000.00	BANK OF BARODA	MEGHDOOT BUILDING, JN. OF LINKING ROAD AND TURNER ROAD, BANDRA (WEST), MUMBAI - 400050, MAHARASHTRA, INDIA	B79515136
2	10430350	13/05/2013	350,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B76827955
3	10411628	26/02/2013	200,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B70717855
4	10401175	07/06/2013 *	910,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS COMPOUND, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA	B79579231
5	10397833	16/01/2013	250,000,000.00	ICICI BANK LIMITED	SHREEJI TOWER C-99, C-SCHEME, AHINSA CIRCLE, JAIPUR - 302001, RAJASTHAN, INDIA	B66178591
6	10384510	11/10/2012	150,000,000.00	ICICI BANK LIMITED	BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA	B61388484
7	10383214	11/10/2012 *	50,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B63418032
8	10374928	31/08/2012	1,040,000,000.00	ICICI BANK LIMITED	BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA	B57446510
9	10361841	25/06/2012	280,000,000.00	ICICI BANK LIMITED	SHREEJI TOWER C-99, C-SCHEME, AHINSA CIRCLE, JAIPUR - 302001, RAJASTHAN, INDIA	B42130971
10	10363755	01/06/2012	240,000,000.00	IDBI BANK LIMITED	GROUND FLOOR, JEEVAN NIDHI BUILDING, LIC COMPLEX, BHAWANI SINGH ROAD, JAIPUR - 302005, RAJASTHAN, INDIA	B42914929
11	10351317	04/04/2012	450,000,000.00	INDUSIND BANK LIMITED		B38054714
12	10339216	07/11/2012 *	150,000,000.00	ICICI BANK LIMITED	BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA	B62166988
13	10326042	05/01/2012	100,000,000.00	ICICI BANK LIMITED	ICICI BANK TOWERS, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA	B28936623
14	10326044	27/09/2012 *	250,000,000.00	ICICI BANK LIMITED	C-99,SHREEJI TOWER, NEAR AHINSA CIRCLE, C-SCHEME, JAIPUR - 302001, RAJASTHAN, INDIA	B58861972
15	10331463	12/03/2013 *	200,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B71662530
16	10361424	08/12/2011	225,000,000.00	PUNJAB AND SIND BANK	JUHU BRANCH, AMRAPALI SHOPPING CENTRE, JVPD SCHEME, VILEPARLE (WEST), MUMBAI - 400049, MAHARASHTRA, INDIA	B32039448
17	10332237	08/12/2011	225,000,000.00	PUNJAB AND SIND BANK	JUHU BRANCH, AMRAPALI SHOPPING CENTRE, JVPD SCHEME, VILEPARLE (WEST), MUMBAI - 400049, MAHARASHTRA, INDIA	B30702336
18	10322340	17/11/2011	300,000,000.00	PUNJAB AND SIND BANK	JUHU BRANCH, AMRAPALI SHOPPING CENTRE, JVPD SCHEME, VILEPARLE (WEST), MUMBAI - 400049, MAHARASHTRA, INDIA	B27548239
19	10322080	12/01/2012 *	300,000,000.00	PUNJAB AND SIND BANK	JUHU BRANCH, AMRAPALI SHOPPING CENTRE, JVPD SCHEME, VILEPARLE (WEST), MUMBAI - 400049, MAHARASHTRA, INDIA	B30702757
20	10315138	29/03/2012 *	300,000,000.00	PUNJAB NATIONAL BANK	PLOT NO 237, BABA HOUSE, 27TH ROAD, BANDRA (WEST), MUMBAI - 400050, MAHARASHTRA, INDIA	B36386571
21	10310912	25/08/2011	455,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS COMPOUND, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA	B22830277
22	10311460	11/10/2011 *	150,000,000.00	TATA CAPITAL LIMITED	ONE FORBES, DR V B GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B24515876
23	10302645	16/07/2011	350,000,000.00	PUNJAB AND SIND BANK	JUHU BRANCH, AMRAPALI SHOPPING CENTRE, JVPD SCHEME, VILEPARLE (WEST), MUMBAI - 400049, MAHARASHTRA, INDIA	B18972174
24	10302648	16/07/2011	350,000,000.00	PUNJAB AND SIND BANK	JUHU BRANCH, AMRAPALI SHOPPING CENTRE, JVPD SCHEME, VILEPARLE (WEST), MUMBAI - 400049, MAHARASHTRA, INDIA	B18972471
25	10302649	18/07/2011 *	350,000,000.00	PUNJAB AND SIND BANK	JUHU BRANCH, AMRAPALI SHOPPING CENTRE, JVPD SCHEME, VILEPARLE (WEST), MUMBAI - 400049, MAHARASHTRA, INDIA	B19759646
26	10286214	30/03/2011	25,000,000.00	ORIENTAL BANK OF COMMERCE	SHREEJEE CHAMBERS, TATA ROAD NO.2, OPERA HOUSE, MUMBAI - 400004, MAHARASHTRA, INDIA	B12543195
27	10280522	11/10/2011 *	300,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, GR. FLR. BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA	B26352393
28	10259017	24/11/2010	20,000,000.00	ANDHRA BANK	18, HOMI MODI STREET, NANAVATHI MAHALAYA, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B01908797
29	10241351	22/09/2010	1,690,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	A95355293
30	10223247	31/01/2011 *	415,020,000.00	STANDARD CHARTERED BANK	90, M G ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B05527932
31	10213807	29/03/2010 *	44,000,000.00	ANHDRA BANK	NANAVATI MAHALAYA, 17, HOMI MODI STREET, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	A84651892
32	10181129	29/09/2009 *	30,000,000.00	TATA CAPITAL LIMITED	ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHA RASHTRA - 400001, INDIA	A72574940
33	10411433	26/08/2009	20,000,000.00	UNION BANK OF INDIA	UNION BANK OF INDIA, SHANTI NAGAR BRANCH, NAGPUR - 440002, MAHARASHTRA, INDIA	A73285736
34	10174400	14/07/2009	8,750,000.00	ORIENTAL BANK OF COMMERCE	SHREEJEE CHAMBERS, TATA ROAD NO.2, OPERA HOUSE, MUMBAI - 400004, MAHARASHTRA, INDIA	A68893114
35	10172921	18/07/2012 *	125,000,000.00	ORIENTAL BANK OF COMMERCE	SHREEJEE CHAMBERS, TATA ROAD NO.2, OPERA HOUSE, MUMBAI - 400004, MAHARASHTRA, INDIA	B45151735
36	10166358	27/06/2009	39,200,000.00	ANHDRA BANK	NANAVATI MAHALAYA, 17, HOMI MODI STREET, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	A65517286
37	10165656	25/05/2010 *	200,000,000.00	STANDARD CHARTERED BANK	90, M G ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	A89659023
38	10162356	04/06/2009	3,200,000.00	PUNJAB NATIONAL BANK	PLOT NO. 237, 27TH ROAD, OFF LINKING ROAD, BANDRA, MUMBAI - 400050, MAHARASHTRA, INDIA	A63642383
39	10160145	20/04/2011 *	400,000,000.00	AXIS BANK LIMITED	LAXMI THE MALL, BLDG NO.5, LAXMI INDUSTRIAL ESTATE, NEW LINK ROAD, ANDHERI (WEST), MUMBAI - 400053, MAHARASHTRA, INDIA	B11816626
40	10136178	22/12/2008	3,801,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	A53982344
41	10134745	24/05/2012 *	1,514,000,000.00	ANDHRA BANK(LEAD BANK)	NANAVATI MAHALAYA, 18 HOMI MODI STREET FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B40805954
42	10116447	23/11/2010 *	270,000,000.00	ORIENTAL BANK OF COMMERCE	OPERA HOUSE BRANCH, SHREEJI CHAMBERS, TATA ROAD NO. 2, OPERA HOUSE, MUMBAI - 400004, MAHARASHTRA, INDIA	B01985373
43	10443041	17/07/2007	20,250,000.00	PUNJAB AND SIND BANK	AMRAPALI SHOPPING CENTRE, JVPD SCHEME, JUHU, MUMBAI - 400049, MAHARASHTRA, INDIA	A22723290
44	90215846	26/07/2004	300,000.00	CENTURION BANK LIMITED	322; SWASTIK CHAMBERS; SION-TROMBAY ROAD, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	-
45	90215843	30/06/2004	650,000.00	CENTURION BANK LIMITED	322; SWASTIK CHAMBERS; SION-TROMBAY ROAD, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	-
46	90215798	28/07/2003	540,000.00	CENTURION BANK LIMITED	322; SWASTIK CHAMBERS; SION-TROMBAY ROAD, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	^(C)243.958	^(D)98.841
Total	243.958	98.841
NOTE (C) Unsecured: Loan from Bank - Rs. 3.429 Millions Loan from Directors/ Shareholders/ Corporate - Rs. 275.000 Millions (Less): Current maturities of long-term debt - Rs. 65.327 Millions (D) Unsecured: Loan from Bank - Rs. 41.278 Millions Loan from Directors/ Shareholders/ Corporate - Rs. 125.000 Millions (Less): Current maturities of long-term debt - Rs. 67.437 Millions

NOTE

The registered office of the company has been shifted from 117, Morya Estate Oshivara Link Road, Andheri (West), Mumbai-400053, Maharashtra, India to the present address w.e.f. 01.06.2013

REVIEW OF OPERATIONS

The Company has achieved Gross sales of Rs. 4414.300 millions and profit before tax of Rs.127.500 millions for the Financial Year 2011-2012 as against Gross Sales of Rs. 3311.500 millions and profit before tax of Rs. 166.400 millions in 2010-2011. There was an increase of 33.30% in the Gross sale of the Company in the Financial year 2011-12 as compared to the Financial Year 2010-2011 but still there was a steep fall in the profit of the company in the financial year 2011-12 due to rise in the prices of raw material which could not be recovered from the ultimate customers due to the policy of IEEMA indices, which governs most of the long-term contracts of the Company and deals with the treatment of raw material price variation. Earnings Before Interest, Depreciation, Tax and Amortisation (EBITDA) was Rs. 265.000 millions for the Financial Year 2011-2012 as against Rs. 272.000 millions in 2010-2011 . Due to increase in competition profits decreased from Rs.100.300 millions in last year to Rs. 84.000 millions this year.

CURRENT AND FUTURE PLAN

The Company is using the supply chain management model, by building / nurturing contractors doing specific specialist activities by either financing them directly or indirectly giving them interest free loans, etc. and entering into agreement with such contractors for providing goods and services at concessional rate, thereby resulting in commercial benefits in the long term to the Company. Board is optimistic that financial year 2012-2013 would be better for the company. Effective utilization of resources, cost cutting, widening of markets for companys products will contribute towards the growth of the company in this new financial year.

FIXED ASSETS

· Land

· Buildings

· Factory Building

· Other Building

· Plant and Equipment

· Other Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

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 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.61.75
UK Pound	1	Rs.99.56
Euro	1	Rs.83.55

INFORMATION DETAILS

Information Gathered by :	NAY
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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

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

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

RATING EXPLANATIONS

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

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.