MIRA INFORM REPORT

Report Date :

07.04.2014

IDENTIFICATION DETAILS

Name :	OCIMUM CONSTRUCTIONS PRIVATE LIMITED
Registered Office :	Survey No:12 (P), Opposite CII, Hitech City, Kondapur, Hyderabad – 500038, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	16.06.2006
Com. Reg. No.:	01-050356
Capital Investment / Paid-up Capital :	Rs.22.849 Millions
CIN No.: [Company Identification No.]	U45201AP2006PTC050356
Legal Form :	Private Limited Liability Company
Line of Business :	Construction of Building, Road, Power Projects.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 1060000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The company possesses an acceptable financial profile marked by adequate networth base. Management has reported an increase in its sales volume during 2013. The rating also take into consideration the growing consensus that a private - public – partnership is required to remove operational difficulties, may further develop the business profile of the company. Trade relations are fair. Business is active. Payment terms are reported as slow but 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 – 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.

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

Name :	Mr. Raju
Designation :	Purchase Department
Contact No.:	91-40-23118516
Date :	05.04.2014

LOCATIONS

Registered Office :	Survey No:12 (P), Opposite CII, Hitech City, Kondapur, Hyderabad – 500038, Andhra Pradesh, India
Tel. No.:	91-40-23118516 / 23118510
Fax No.:	91-40-23118511
E-Mail :	bkkr@ocimumconstructions.com
Website :	www.ocimumconstructions.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Krishna Kishore Reddy Bhumireddy

Designation :

Director

Address :

Plot 514, Road No 29, Jubijee Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

30.09.1973

Date of Appointment :

07.09.2009

DIN No.:

00004221

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	U72900AP2004PLC042996	ASTRA MICROELECTRONIC TECHNOLOGIES LIMITED	Whole-time director	01/05/2004	01/05/2004	01/10/2007	Amalgamated	NO
2	U72200AP1994PLC017880	ASTRA INFONETS LIMITED	Director	18/10/2004	18/10/2004	-	Active	NO
3	U45201AP2006PTC050356	OCIMUM CONSTRUCTIONS PRIVATE LIMITED	Managing director	07/09/2009	04/02/2009	-	Active	NO
4	U45200AP2009PTC064479	PKR OCIMUM INFRAPROJECTS PRIVATE LIMITED	Director	23/07/2009	23/07/2009	17/05/2011	Active	NO
5	U72200AP2010PTC070989	HITZE SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	28/10/2010	28/10/2010	-	Active	NO
6	U15122KA2011PLC060174	A TO Z VEG FOOD PRODUCTS LIMITED	Nominee director	12/08/2013	12/08/2013	-	Active	NO

Name :

Mr. Kullai Reddy Venna Pusa

Designation :

Director

Address :

Survey No, 12 P, Opposite CII Kondapur, Hyderabad – 500084, Andhra Pradesh, India

Date of Birth/Age :

06.08.1980

Date of Appointment :

16.06.2006

DIN No.:

00640402

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	U45201AP2006PTC050356	OCIMUM CONSTRUCTIONS PRIVATE LIMITED	Director	16/06/2006	16/06/2006	-	Active	NO
2	U65993AP2006PTC051207	OCIMUM SECURITIES PRIVATE LIMITED	Director	20/09/2006	20/09/2006	-	Strike off	NO
3	U45200AP2009PTC064479	PKR OCIMUM INFRAPROJECTS PRIVATE LIMITED	Director	23/07/2009	23/07/2009	17/05/2011	Active	NO
4	U72200AP1994PLC017880	ASTRA INFONETS LIMITED	Director	24/09/2012	21/05/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Raju
Designation :	Purchase Department
Name :	L V V Associates
Designation :	Company Secretary
Address :	Plot No. 6-2-1/2, Flat No. 504, Afzol Commercial Complex, MMTS Railway Station (South) Lakdi Ka Poll, Hyderabad – 500004, Andhra Pradesh, India
Tel No.:	91-40-23315262
Email ID :	l.d.reddy@gmail.com

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Karekar S Meghal	15000
Kullai Reddy Venna Pusa	155000
Avula Madhusudan Rao	16500
Veeramerddy Paleti Reddy	5000
Chappisi Silpa	15907
Thonauru Rakasekhar Reddy	30000
B Krishna Kishore Reddy	699000
T S Vijaya Lakshmi	52000
Bhumireddy Prasanna Lakshmi	170000
Astra Infonets Limited, India	638500
C Diwakar Reddy	15000
Bhumireddy Bharathi	5000
Veeramreddy Sudhakar Reddy	5000
Veeramreddy Saraswati	5000
VeeramreddyRammohanreddy	50000
Chappidi Prabhakar Reddy	15000
Assr Reddy	110000
Veeramreddy Uttam Reddy	3900
Swaona C.	10000
Ov Bhaskara Reddy	2500
Sonnapu Reddy Gurunatha	5000
Bobbili Jeevan Reddy	20000
Sri Hari Mallampati	197601
Komma Siva Kumar Reddy	10000
Gulla Palli Murlidhar	14000
Gulla Palli Rama Tulasamma	15000
Alla Anusha Reddy	5000
Total	2284908

As on 27.03.2014

Names of Shareholders	No. of Shares
N. Ashok Reddy	70000
B. Subramanyam	60000
Veeranreddy Ram Mohan Reddy	40000
Vennapusa Kullai reddy	124600
K. Mounika	4000
Total	298600

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	13.46
Bodies corporate	27.94
Directors or relatives of Directors	44.81
Other top fifty shareholders	13.79
Total	100.00

BUSINESS DETAILS

Line of Business :	Construction of Building, Road, Power Projects.
Terms :
Purchasing :	Depend

GENERAL INFORMATION

Customers :

Others

No. of Employees :

25 (Approximately)

Bankers :

• Bank of India, Madhapur Branch, Plot No.38, D No.1-98/11/3,Hitech Theatre Road, Madhapur, Hyderabad - 500081, Andhra Pradesh, India
• India Overseas Bank
• Kurar Vysya Bank

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term loan from bank	0.655	7.023
Term Loan from others	10.090	11.527
Short Term Borrowings
Working Capital Loan from Bank of India	7.928	9.927
Working Capital Loan from Indian Overseas Bank	11.048	14.584
Total	29.721	43.061

Banking Relations :	--
Auditors :
Name :	P. S. Nagaraju and Company Chartered Accountants
Address :	Plot No.15, Saiprabha, Ground Floor, Arundaya Colony, Silicon Vally, Madhpur, Hyderabad – 500081, Andhra Pradesh, India
Tel. No.:	91-40-40002678
E-Mail :	services@snco.org
PAN No.:	AAKFP6698P
Sister Concern :	Astra Infonet private Limited

CAPITAL STRUCTURE

As on 27.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2583508	Equity Shares	Rs.10/- each	Rs.25.835 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2284908	Equity Shares	Rs.10/- each	Rs.22.849 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	22.849	21.709	21.709
(b) Reserves & Surplus	233.647	209.149	204.470
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	8.530	4.143	0.000
Total Shareholders’ Funds (1) + (2)	265.026	235.001	226.179
(3) Non-Current Liabilities
(a) long-term borrowings	26.725	26.038	4.352
(b) Deferred tax liabilities (Net)	0.283	0.606	0.458
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	27.008	26.644	4.810
(4) Current Liabilities
(a) Short term borrowings	18.976	24.511	10.457
(b) Trade payables	201.641	8.803	18.404
(c) Other current liabilities	26.451	136.545	40.674
(d) Short-term provisions	8.360	0.892	1.834
Total Current Liabilities (4)	255.428	170.751	71.369
TOTAL	547.462	432.396	302.358
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	39.623	38.437	33.768
(ii) Intangible Assets	0.000	0.000	0.000
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7.836	8.446	8.346
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	47.459	46.883	42.114
(2) Current assets
(a) Current investments	0.000	8.861	0.000
(b) Inventories	42.556	65.908	195.011
(c) Trade receivables	299.549	143.006	46.751
(d) Cash and cash equivalents	11.698	17.175	6.614
(e) Short-term loans and advances	134.045	105.444	11.868
(f) Other current assets	12.155	45.119	0.000
Total Current Assets	500.003	385.513	260.244
TOTAL	547.462	432.396	302.358

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	407.462	290.027	106.117
		Other Income	2.235	0.662	0.333
		TOTAL (A)	409.697	290.689	106.450
Less	EXPENSES
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	23.352	129.103	25.721
		Employee Benefits Expenses	8.506	7.234	5.623
		Other Expenses	341.661	134.640	60.082
		Exceptional Items	1.011	1.050	0.409
		TOTAL (B)	374.530	272.027	91.835
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		35.167	18.662	14.615
Less	FINANCIAL EXPENSES (D)		6.274	4.962	1.883
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		28.893	13.700	12.732
Less	DEPRECIATION/ AMORTISATION (F)		6.618	5.250	5.879
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		22.275	8.450	6.853
Less	TAX (H)		8.045	3.771	2.428
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		14.230	4.679	4.425
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		14.666	9.987	5.562
	BALANCE CARRIED TO THE B/S		28.896	14.666	9.987
	Earnings Per Share (Rs.)		6.23	2.16	2.04

Expected Sales (2013-2014): Rs.460.000 Millions

The above information has been parted by Mr. Raju, Purchase Department.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	3.47	1.61	4.16
Net Profit Margin (PBT/Sales)	(%)	5.47	2.91	6.46
Return on Total Assets (PBT/Total Assets}	(%)	4.07	1.95	2.27
Return on Investment (ROI) (PBT/Networth)		0.08	0.04	0.03
Debt Equity Ratio (Total Debt /Networth)		0.17	0.22	0.07
Current Ratio (Current Asset/Current Liability)		1.96	2.26	3.65

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	21.709	21.709	22.849
Reserves & Surplus	204.470	209.149	233.647
Share Application money pending allotment	0.000	4.143	8.530
Net worth	226.179	235.001	265.026
long-term borrowings	4.352	26.038	26.725
Short term borrowings	10.457	24.511	18.976
Total borrowings	14.809	50.549	45.701
Debt/Equity ratio	0.065	0.215	0.172

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	106.117	290.027	407.462
		173.309	40.491

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	106.117	290.027	407.462
Profit	4.425	4.679	14.230
	4.17%	1.61%	3.49%

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	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
From Directors	15.980	7.488
Total	15.980	7.488

PROJECTS:

The company has been successful in establishing a good reputation in the market and getting good opportunities. The existing projects at Gadhwal Srinagar are in state of completion and the company got further works from the customer. The company has got road works at Gujarat from GVJ projects and is successfully commenced execution of the project during the financial year.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10300111	29/06/2011	115,000,000.00	Indian Overseas Bank	Plot No 1355a, Road No.1, Jubilee Hills, Hyderabad, Andhra Pradesh - 500033, India	B18044438
2	10283629	17/03/2011	9,000,000.00	KARVY FINANCIAL SERVICES LIMITED	46, St.No.1,Banjara Hills, Hyderabad, Andhra Pradesh, Andhra Pradesh - 500034, India	B11897006
3	10263015	05/01/2011	1,392,262.00	SREI Equipment Finance Private Limited	'Vishwakarma', 86c, Topsia Road, Kolkata, West Bengal - 700046, India	B04113007
4	10177069	31/08/2009	1,000,000.00	KARUR VYSYA BANK LIMITED	Plot No 265j, Keerthi Mansion Road No 10, Jubilee Hills, Hyderabad, Andhra Pradesh - 500033, India	A70390307
5	10155723	04/09/2013 *	75,000,000.00	BANK OF INDIA	Madhapur Branch,Plot No.38, D No.1-98/11/3,Hitech Theatre Road, Madhapur, Hyderabad, Andhra Pradesh - 500081, India	B87839106
6	10155721	08/04/2009	470,000.00	KARUR VYSYA BANK LIMITED	Plot No. 227, Road No. 1, Jubilee Hills, Hyderab Ad, Andhra Pradesh - 500033, India	A61473286
7	10155715	30/03/2009	650,000.00	KARUR VYSYA BANK LIMITED	Plot No. 227, Road No. 1, Jubilee Hills, Hyderabad, Andhra Pradesh - 500033, India	A61472031

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.60.12
UK Pound	1	Rs.100.17
Euro	1	Rs.82.74

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	SUB
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	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		46

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.