MIRA INFORM REPORT

Report Date :

07.04.2014

IDENTIFICATION DETAILS

Name :	LUMINO INDUSTRIES LIMITED
Registered Office :	307, Swaika Centre, 4^th Floor, 4A, Pollock Street, Kolkata – 700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	30.03.2005
Com. Reg. No.:	21-102556
Capital Investment / Paid-up Capital :	Rs.304.425 millions
CIN No.: [Company Identification No.]	U14293WB2005PLC102556
TAN No.: [Tax Deduction & Collection Account No.]	CALL01667B
PAN No.: [Permanent Account No.]	AABCL0720E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of conductors, including All-Aluminium Conductors (AAC), All-Alloy Aluminium Conductors (AAAC), Aluminium Conductors Steel Reinforced (ACSR), and Copper Conductors.
No. of Employees :	70 (Approximately)

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 3902000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There seems dip in the profit of the company during 2013. However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered normal 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

India’s current account deficit for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: BBB
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	September 10, 2013

Rating Agency Name	CRISIL
Rating	Short Term Rating: A3+
Rating Explanation	Have moderate degree of safety and carry higher credit risk.
Date	September 10, 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 PARTED BY (GENERAL DETAILS)

Name :	Ms. Priyanka
Designation :	Admin Department
Contact No.:	91-33-22829201

LOCATIONS

Registered Office :	307, Swaika Centre, 4^th Floor, 4A, Pollock Street, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-22353263/ 22357593
Fax No.:	91-33-22152923
E-Mail :	devendra@lasercables.com lumino@lasercables.com
Website :	http://luminoindustries.com
Location:	Owned
Corporate Office :	“Usha Kiran”, 12A, Camac Street, Room No.5, 5^th Floor, Kolkata – 700 017, West Bengal, India
Tel. No.:	91-33-22829201 (5 lines)
Fax No.:	91-33-22829206
E-Mail :	lumino@lasercables.com
Factory :	At/PO: Biprannapara, Jalan Complex, P.S.: Domjur, Howrah – 711 411, West Bengal, India
Tel. No.:	91-33-26692420/ 65290333
Fax No.:	91-33-26692471

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Deepak Goel

Designation :

Whole-time Director

Address :

4, Alipore Park Place, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

20.02.1969

Qualification :

B. Com

Date of Appointment :

01.08.2011

Pan No. :

ADGPG4399H

DIN No.:

00673430

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	U14220WB1988PTC043591	LASER CABLES PRIVATE LIMITED	Director	17/01/1988	17/01/1988	-	Active	NO
2	U51505WB1990PTC048881	SIGMA SALES PRIVATE LIMITED	Director	20/04/1990	20/04/1990	16/07/2010	Active	NO
3	U17119GJ1993PTC020467	LASER SYNTHETICS PRIVATE LIMITED	Director	19/10/1993	19/10/1993	28/01/2009	Active	NO
4	U14200WB1997PTC085933	LASER ELECTRICAL INDUSTRIES PRIVATE LIMITED	Director	19/11/1997	19/11/1997	24/10/2013	Active	NO
5	U17119GJ2003PTC043137	LASER FILAMENT PRIVATE LIMITED	Director	04/11/2003	04/11/2003	28/10/2007	Active	NO
6	U14293WB2005PLC102556	LUMINO INDUSTRIES LIMITED	Whole-time director	01/08/2011	30/03/2005	-	Active	NO
7	U27203WB2005PLC104710	LASER ALUMINIUM COMPANY LIMITED	Director	01/09/2005	01/09/2005	-	Amalgamated	NO
8	U45309WB2006PTC109399	SHANTINIKETAN INFRASTURUCTURE PRIVATE LIMITED	Director	10/11/2006	10/11/2006	26/06/2008	Active	NO
9	U45200WB2006PTC111909	SRI SHYAM PROJECTS PRIVATE LIMITED	Director	23/11/2006	23/11/2006	-	Active	NO
10	U70200WB2010PTC151407	LAL DASS PROPERTIES PRIVATE LIMITED	Director	19/07/2010	19/07/2010	18/08/2010	Active	NO
11	U40105WB2010PLC151600	LUMINO POWER INFRASTRUCTURE LIMITED	Director	23/07/2010	23/07/2010	-	Active	NO
12	U70200WB2010PTC152128	DRP REALTORS PRIVATE LIMITED	Director	10/08/2010	10/08/2010	18/08/2010	Active	NO
13	U51101WB2010PTC148261	BARDEN AGENCIES PRIVATE LIMITED	Director	07/06/2011	07/06/2011	23/10/2013	Active	NO
14	U51109WB2005PTC102428	SANATAN VINIMAY PRIVATE LIMITED	Director	29/09/2011	07/06/2011	23/10/2013	Active	NO
15	U51909WB2010PTC148117	ASTRA VINIMAY PRIVATE LIMITED	Director	07/06/2011	07/06/2011	23/10/2013	Active	NO

Name :

Mr. Devendra Goel

Designation :

Director

Address :

1b, Mayfair Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

21.10.1972

Qualification :

B.Com

Date of Appointment :

04.04.2005

Pan No. :

ADGPG4397K

DIN No.:

00673447

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	U14220WB1988PTC043591	LASER CABLES PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
2	U17119GJ1993PTC020467	LASER SYNTHETICS PRIVATE LIMITED	Director	30/11/1993	30/11/1993	28/01/2009	Active	NO
3	U70101WB1995PTC074562	PULKIT PROPERTIES PRIVATELIMITED	Director	27/09/1995	27/09/1995	-	Active	NO
4	U70101WB1995PTC074563	DEVENDRA CONSTRUCTION PRIVATE LIMITED	Director	27/09/1995	27/09/1995	01/04/2012	Active	NO
5	U14200WB1997PTC085933	LASER ELECTRICAL INDUSTRIES PRIVATE LIMITED	Director	19/11/1997	19/11/1997	25/10/2013	Active	NO
6	U51909WB1995PTC070180	JALSAGAR SALES AGENCY PRIVATE LIMITED	Director	01/06/1999	01/06/1999	-	Active	NO
7	U17119GJ2003PTC043137	LASER FILAMENT PRIVATE LIMITED	Director	04/11/2003	04/11/2003	28/10/2007	Active	NO
8	U70101WB1987PTC042427	GENUINE REAL ESTATES PRIVATE LIMITED	Director	12/03/2005	12/03/2005	-	Active	NO
9	U67120WB1992PTC056195	DRP TRADING AND INVESTMENT PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Active	NO
10	U14293WB2005PLC102556	LUMINO INDUSTRIES LIMITED	Director	04/04/2005	04/04/2005	-	Active	NO
11	U27203WB2005PLC104710	LASER ALUMINIUM COMPANY LIMITED	Director	01/09/2005	01/09/2005	-	Amalgamated	NO
12	U70109WB1991PTC052778	IN STYLE FARMS PRIVATE LIMITED	Director	23/12/2005	23/12/2005	-	Active	NO
13	U45200WB2007PTC112794	RAMKRISHNA INFRASTRUCTURE PRIVATE LIMITED	Director	25/01/2007	25/01/2007	-	Active	NO
14	U25203WB2007PTC115392	SHRISHYAMNIKETAN PROJECTS PRIVATE LIMITED	Director	27/04/2007	27/04/2007	11/01/2011	Active	NO
15	U45400WB2007PTC120547	UNIQUE HEIGHTS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	-	Active	NO
16	U51909WB2008PTC127889	JBLD TRADING PRIVATE LIMITED	Director	25/07/2008	25/07/2008	31/08/2010	Active	NO
17	U80301AS2009PTC009047	NORTH EASTERN EDUCARE AND RESEARCH PRIVATE LIMITED	Director	29/09/2010	05/06/2009	-	Active	NO
18	U74900WB2009PTC139269	AAYUSH-PRATIK DEALCOMM PRIVATE LIMITED	Director	09/11/2009	09/11/2009	-	Active	NO
19	U70200WB2010PTC151407	LAL DASS PROPERTIES PRIVATE LIMITED	Director	19/07/2010	19/07/2010	31/08/2010	Active	NO
20	U40105WB2010PLC151600	LUMINO POWER INFRASTRUCTURE LIMITED	Director	23/07/2010	23/07/2010	-	Active	NO
21	U70200WB2010PTC152128	DRP REALTORS PRIVATE LIMITED	Director	10/08/2010	10/08/2010	31/08/2010	Active	NO
22	U70109WB2010PTC155049	D.S. DEVELOPERS PRIVATE LIMITED	Director	26/11/2010	26/11/2010	-	Active	NO
23	U51909WB2007PTC119092	EMBASSY VYAPAAR PRIVATE LIMITED.	Director	29/09/2011	02/12/2010	23/10/2013	Active	NO
24	U51101WB2010PTC143823	KASAUTI DEALTRADE PRIVATE LIMITED	Director	15/09/2011	06/01/2011	23/10/2013	Active	NO
25	U52300WB2009PTC139092	ORBIT MERCHANT PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
26	U52190WB2009PTC139116	RELINE DEVELOPERS PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
27	U51909WB2008PTC129368	VIDULA AGENCY PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
28	U52190WB2009PTC139126	READY CONSTRUCTION PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
29	U52190WB2009PTC139055	SUNRISE E-SERVICES PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
30	U52190WB2009PTC139093	HAWK SALES PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
31	U51909WB2010PTC148117	ASTRA VINIMAY PRIVATE LIMITED	Director	07/06/2011	07/06/2011	25/10/2013	Active	NO
32	U51109WB2005PTC102428	SANATAN VINIMAY PRIVATE LIMITED	Director	29/09/2011	07/06/2011	25/10/2013	Active	NO
33	U51101WB2010PTC148261	BARDEN AGENCIES PRIVATE LIMITED	Director	07/06/2011	07/06/2011	25/10/2013	Active	NO

KEY EXECUTIVES

Name :	Mrs. Puja Mohan
Designation :	Secretary
Address :	201, NSC Bose Road, Kolkata – 700 040, West Bengal, India
Date of Appointment :	01.08.2011
Pan No.:	AYBPP0136D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Deepak Goel	1349500
Shanti Devi Goel	1032000
Purushottam Dass Goel	389500
Rashmi Goel	90000
Devendra Goel	1331500
Rakhi Goel	72000
Sangeeta Terkriwal	600
Jalsagar Sales Agency Private Limited, India	8830000
DRP Trading and Investments Private Limited, India	2523000
Laser Electrical Industries Private Limited, India	3740000
Malina Daw	100
Laser Cables Private Limited, India	4290000
Sigma Vyapaar Private Limited, India	1518300
Adishwar Trade Link Private Limited, India	2607000
Welkon Goods Private Limited, India	2500000
Embassy Vyapaar Private Limited, India	10000
Regal Financial Advisory Private Limited, India	99000
Sanatan Vinimay Private Limited, India	60000
Total	30442500

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	85.99
Directors or relatives of directors	14.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of conductors, including All-Aluminium Conductors (AAC), All-Alloy Aluminium Conductors (AAAC), Aluminium Conductors Steel Reinforced (ACSR), and Copper Conductors.

Products/ Services :

Item Code No. (ITC Code)	76144008
Product Description	Aluminium Conductor
Item Code No. (ITC Code)	99870000
Product Description	EPC Projects

· Aluminium Conductors Steel Reinforced ( ACSR)

· All Aluminium Conductor (AAC)

· All Aluminium Alloy Conductor (AAAC)

Terms :

Selling :

Cash / Credit

Purchasing :

Cash / Credit

GENERAL INFORMATION

Customers:

End Users

Government Sector and Utilities

· Power Grid Corporation of India Limited

· NHPC Limited

· National Thermal Power Corporation

· Damodar Valley Corporation Limited

· Chhattisgarh State Electricity Board, Raipur

· Delhi Vidyut Board, Delhi

· Eastern Coalfields Limited

· Gujarat Energy Transmission Corporation Limited

EPC and Infrastructure

· ABB Limited

· Bajaj Electricals Limited

· KEC International Limited

· Kirloskar Brother Limited

No. of Employees :

70 (Approximately)

Bankers :

• Canara Bank, Prime Corporate Branch, Bells House, 21 Camac Street, Ground Floor, Kolkata – 700 016, West Bengal, India
• Bank of Baroda, Alipore Branch, 38/1 E, Gopal Nagar Road, Kolkata – 700 027, West Bengal, India
• Andhra Bank, Kolkata Main Branch, 14/1B, Ezra Street, Kolkata – 700 001 West Bengal, India
• HDFC Bank Limited

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG-TERM BORROWINGS
Rupee term loans from banks	0.973	2.165
SHORT-TERM BORROWINGS
Loans repayable on demand from banks	517.031	242.621
Other loans and advances	332.533	356.259
Total	850.537	601.045

Banking Relations :	--
Statutory Auditors :
Name :	SDP and Associates Chartered Accountants
Address :	46C, Chowringhee Road, Everest House, Flat No.14G, Kolkata – 700 071, West Bengal, India
PAN No.:	AARFS4093A
Cost Auditors :	B. Ray and Associates Cost Accountants
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Laser Cables Private Limited, India (CIN No.: U14220WB1988PTC043591) Laser Electrical Industries Private Limited, India (CIN No.: U14200WB1997PTC085933)

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
31000000	Equity Shares	Rs.10/- each	Rs.310.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30442500	Equity Shares	Rs.10/- each	Rs.304.425 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	304.425	304.425	303.395
(b) Reserves & Surplus	671.046	622.228	496.235
(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)	975.471	926.653	799.630
(3) Non-Current Liabilities
(a) Long-term borrowings	2.173	61.665	18.700
(b) Deferred tax liabilities (Net)	0.030	0.312	0.473
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.834	0.543	0.259
Total Non-current Liabilities (3)	3.037	62.520	19.432
(4) Current Liabilities
(a) Short term borrowings	849.564	598.880	649.716
(b) Trade payables	442.378	548.861	660.558
(c) Other current liabilities	108.093	54.961	109.959
(d) Short-term provisions	16.525	18.915	10.306
Total Current Liabilities (4)	1416.560	1221.617	1430.539
TOTAL	2395.068	2210.790	2249.601
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	23.278	26.864	21.356
(ii) Intangible Assets	0.077	0.090	0.104
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	10.719	9.969	8.864
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.973	1.694	0.903
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	36.047	38.617	31.227
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	233.766	256.616	370.893
(c) Trade receivables	1470.187	1518.169	1454.898
(d) Cash and cash equivalents	337.097	263.358	244.159
(e) Short-term loans and advances	195.940	91.848	107.914
(f) Other current assets	122.031	42.182	40.510
Total Current Assets	2359.021	2172.173	2218.374
TOTAL	2395.068	2210.790	2249.601

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations	2743.262	3066.263	3434.939
		Other Income	36.571	32.609	17.969
		TOTAL (A)	2779.833	3098.872	3452.908
Less	EXPENSES
		Cost of materials consumed	1751.059	1656.572	1782.933
		Purchases of stock-in-trade	472.716	656.529	1221.918
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(30.706)	122.305	(90.415)
		Employee benefit expense	33.880	29.513	28.242
		Other expenses	385.033	403.518	322.796
		TOTAL (B)	2611.982	2868.437	3265.474
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		167.851	230.435	187.434
Less	FINANCIAL EXPENSES (D)		87.710	110.259	61.447
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		80.141	120.176	125.987
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.552	4.753	4.401
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		74.589	115.423	121.586
Less	TAX (H)		25.771	39.901	41.513
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		48.818	75.522	80.073
	EARNINGS IN FOREIGN CURRENCY		372.147	475.187	0.000
	Earnings/ (Loss) Per Share (Rs.)		1.60	2.49	2.68

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.76	2.44	2.32
Net Profit Margin (PBT/Sales)	(%)	2.72	3.76	3.54
Return on Total Assets (PBT/Total Assets}	(%)	3.13	5.24	5.43
Return on Investment (ROI) (PBT/Networth)		0.08	0.12	0.15
Debt Equity Ratio (Total Debt /Networth)		0.87	0.71	0.84
Current Ratio (Current Asset/Current Liability)		1.67	1.78	1.55

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	303.395	304.425	304.425
Reserves & Surplus	496.235	622.228	671.046
Net worth	799.630	926.653	975.471
Long-term borrowings	18.700	61.665	2.173
Short term borrowings	649.716	598.880	849.564
Total borrowings	668.416	660.545	851.737
Debt/Equity ratio	0.836	0.713	0.873

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from Operations	3434.939	3066.263	2743.262
		-10.733	-10.534

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from Operations	3434.939	3066.263	2743.262
Profit	80.073	75.522	48.818
	2.33%	2.46%	1.78%

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	Yes
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	Yes
19]	Payments terms	Yes
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

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG-TERM BORROWINGS
Other loans and advances	1.200	59.500
Total	1.200	59.500

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10365210	27/06/2012	1,973,800,000.00	CANARA BANK	PRIME CORPORATE BRANCH, BELLS HOUSE, 21 CAMAC STREET, GROUND FLOOR, KOLKATA, WEST BENGAL - 700016, INDIA	B43509348
2	10161558	23/10/2010 *	529,500,000.00	ANDHRA BANK	KOLKATA MAIN BRANCH, 14/1B, EZRA STREET, KOLKATA, WEST BENGAL - 700001, INDIA	A98181548
3	10070873	20/08/2007	212,600,000.00	BANK OF BARODA	ALIPORE BRANCH, 38/1E, GOPAL NAGAR ROAD, KOLKATA, WEST BENGAL - 700027, INDIA	A24179210
4	10084115	31/03/2007	40,000,000.00	BANK OF BARODA	ALIPORE BRANCH, 38/1E,GOPAL NAGAR ROAD, KOLKATA, WEST BENGAL - 700027, INDIA	A15001621
5	10018705	23/07/2009 *	1,259,600,000.00	BANK OF BARODA	ALIPORE BRANCH, 38/1 E, GOPAL NAGAR ROAD, KOLKATA, WEST BENGAL - 700027, INDIA	A69509214
6	90255438	10/01/2011 *	3,530,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH, BELLS HOUSE, 21 CAMAC STREET, GROUND FLOOR, KOLKATA, WEST BENGAL - 700016, INDIA	B03530755

* Date of charge modification

OPERATIONAL PERFORMANCE

The company achieved a gross turnover of Rs.3059.620 millions as against Rs.3335.614 millions achieved in the previous year. The company earned a net profit of Rs.48.818 millions as against Rs.75.523 millions in the previous year.

EXPORT

The company is in process of exploring new markets for Export apart from African Markets. They have quoted for tenders in Asian Markets, viz., Sri Lanka, Nepal, Etc. During the year, the Company has export orders worth USD 306930 from Sri Lankan market and Deemed export orders worth USD 7302712 from Power Grid Corporation of India Limited. They further expect more order from African and Asian Market.

CENTRAL GOVERNMENT APPROVAL FOR TRANSACTIONS WITH LASER CABLES PRIVATE LIMITED

The Company undertakes transactions related to purchase and job work with Laser Cables Private Limited, a Private Company in which Mr. Devendra Goel and Mr. Deepak Goel, Directors of the Company, are interested.

The Company had made applications for prior approval for the said transactions to the Regional Director, Ministry of Corporate Affairs under Section 297 of the Companies Act. The approval letters dated 16^th November, 2012 and 14^th May, 2013 relating to purchase and job work respectively has been received.

FIXED ASSETS:

Tangible Assets

· Buildings

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

· Office Equipments

· Computer Equipments

Intangible Assets

· Goodwill

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 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.60.32
UK Pound	1	Rs.100.04
Euro	1	Rs.82.65

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	RAS
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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.