MIRA INFORM REPORT

Report Date :

01.08.2014

IDENTIFICATION DETAILS

Name :	K.I.(INTERNATIONAL) LIMITED
Registered Office :	664, T H Road, Tondiarpet, Chennai-600081, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	20.01.2005
Com. Reg. No.:	18-055189
Capital Investment / Paid-up Capital :	Rs.40.560 Millions
CIN No.: [Company Identification No.]	U63023TN2005PLC055189 (New) U51420TN2005PLC055189 (Old)
PAN No.: [Permanent Account No.]	AACCK6186E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of Import and Export, Trading and to act as agent and deal in all types of metals and general merchandise.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. External borrowing of the company is huge which act as a threat to liquidity position of the company. However, trade relation are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some caution.

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = B
Rating Explanation	Risk prone credit quality and high risk of default.
Date	19.11.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating = A4
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	19.11.2013

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Kaliyapan
Designation :	Finance Head
Contact No.:	91-44-25910850
Date :	28.07.2014

LOCATIONS

Registered Office / Corporate Office :	664, T H Road, Tondiarpet, Chennai-600081, Tamilnadu, India
Tel. No.:	91-44-25910850 / 25910855 / 42961100 – 130 (Expect 129)
Fax No.:	91-44-25917603
E-Mail :	vkkothari123@gmail.com info@kamachigroup.com
Website :	www.kamachigroup.com
Head Office :	ABC Trade Centre, Old No.50, New No.39, Anna Salai, Chennai – 600 002, Tamilnadu, India
Tel. No.:	91-44-42961100
Fax No.:	91-44-42961122

DIRECTORS

As on 28.09.2012

Name :

Mr. Ghisulal Kothari

Designation :

Director

Address :

New No.10, Old No.13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

04.12.1950

Date of Appointment :

20.01.2005

DIN No.:

01168461

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	U45402TN1995PLC030832	ABC PROPERTIES LIMITED	Director	05/04/1995	05/04/1995	25/12/2009	Active	NO
2	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
3	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	24/07/2000	24/07/2000	-	Active	NO
4	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
5	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Whole-time director	13/09/2004	13/09/2004	-	Active	NO
6	U63023TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	28/09/2006	19/04/2006	-	Active	NO
8	U74899WB1995PLC114981	SHIVPRIYA FINVEST LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Director	19/02/2011	19/02/2011	-	Active	NO
12	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
13	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Shantilal Meghraj Kothari

Designation :

Director

Address :

New No.10, Old No.13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

01.05.1953

Date of Appointment :

20.01.2005

DIN No.:

01789941

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	U45402TN1995PLC030832	ABC PROPERTIES LIMITED	Director	05/04/1995	05/04/1995	25/12/2009	Active	NO
2	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
3	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	24/07/2000	24/07/2000	-	Active	NO
4	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
5	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	13/09/2004	13/09/2004	-	Active	NO
6	U63023TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	19/04/2006	19/04/2006	-	Active	NO
8	U28931WB1996PTC117342	DEVSHREE SAVING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
12	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Sardarmal Kothari

Designation :

Director

Address :

New No.10, Old No.13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

03.10.1958

Date of Appointment :

20.01.2005

DIN No.:

01168374

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	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	06/04/1995	06/04/1995	-	Active	NO
2	U27106TN2003PLC051727	KAMACHI SPONGE AND POWER CORPORATION LIMITED	Managing director	01/04/2014	08/10/2003	-	Active	NO
3	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	02/08/2004	02/08/2004	-	Active	NO
4	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	13/09/2004	13/09/2004	-	Active	NO
5	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	01/10/2004	01/10/2004	-	Active	NO
6	U63023TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
7	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	28/09/2006	19/04/2006	-	Active	NO
8	U67120WB1996PTC117347	S B M INVESTMENTS PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
10	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
11	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
12	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Kewalchand Meghraj Kothari

Designation :

Director

Address :

New No.10, Old No.13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

15.06.1971

Date of Appointment :

20.01.2005

DIN No.:

01789704

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	U27106TN2003PLC051727	KAMACHI SPONGE & POWER CORPORATION LIMITED	Director	08/10/2003	08/10/2003	-	Active	NO
2	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	20/01/2004	20/01/2004	-	Active	NO
3	U63023TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
4	U65921WB1994PTC117343	BOOH FINANCE COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
5	U51109WB2005PTC102246	SAMARTH GOODS PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
6	U72100WB2007PTC112561	SALTEE SOFTWARE PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
7	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Director	19/02/2011	04/02/2011	-	Active	NO
8	U40200TN2011PLC082149	KAMACHI THERMAL POWER LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
9	U40108TN2011PLC082135	KAMACHI GREEN ENERGY LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Vinod Kothari

Designation :

Director

Address :

New No.10, Old No.13, Sylvan Lodge Colony, 1^st Cross Street, Kilpauk, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

05.12.1972

Date of Appointment :

20.01.2005

DIN No.:

00215412

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	U27105TN1995PLC030850	KAMACHI STEELS LIMITED	Director	11/05/1998	11/05/1998	-	Active	NO
2	U27107GA2002PLC003121	MAA DURGA ENTERPRISES LIMITED	Director	20/01/2004	20/01/2004	-	Active	NO
3	U27106TN2003PLC051727	KAMACHI SPONGE & POWER CORPORATION LIMITED	Director	11/02/2004	11/02/2004	-	Active	NO
4	U27104TN1990PLC019711	GOYAL ISPAT LIMITED	Director	01/11/2004	01/11/2004	-	Active	NO
5	U63023TN2005PLC055189	K.I.(INTERNATIONAL) LIMITED	Director	20/01/2005	20/01/2005	-	Active	NO
6	U65929WB1996PTC138106	PURE GOLD FINANCE PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
7	U67120WB1996PTC115245	UTTAM FINVEST PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
8	U67120WB1996PTC117347	S B M INVESTMENTS PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
9	U74899WB1995PLC114981	SHIVPRIYA FINVEST LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
10	U65921WB1994PTC117343	BOOH FINANCE COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
11	U28931WB1996PTC117342	DEVSHREE SAVING AND INVESTMENT COMPANY PRIVATE LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
12	U27310TN2008PTC067964	STRIDE STEELS PRIVATE LIMITED	Director	29/05/2008	29/05/2008	12/04/2011	Active	NO
13	U65921WB1990PTC050426	KAMACHI INVESTMENTS PRIVATE LIMITED	Director	01/04/2009	01/04/2009	-	Active	NO
14	U51109WB1995PTC073455	SOLANKI TEXCOM PRIVATE LIMITED	Director	27/09/2010	01/02/2010	-	Active	NO
15	U14102RJ1993PTC007445	KAMACHI GRANITES PRIVATE LIMITED	Additional director	19/01/2011	19/01/2011	07/03/2011	Active	NO
16	U65993WB1993PTC136508	SHOBHA INVESTMENT PRIVATE LIMITED	Director	22/03/2013	20/06/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kaliyapan
Designation :	Finance Head

MAJOR SHAREHOLDERS

As on 28.09.2012

SHAREHOLDER DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2012

Category	Percentage
Bodies corporate	12.33
Directors or relatives of Directors	87.57
Other top fifty shareholders	0.10
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of Import and Export, Trading and to act as agent and deal in all types of metals and general merchandise.

Products :

Product Decryption	ITC Code No.
MS Scrap	7204 90000
Plate	7204 82590
Pipe	7306 9090

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· Union Bank of India, 17 G A Road, Old Washermanpet, Chennai-600021, Tamilnadu, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Other loans and advances	0.053	0.612
Short Term Borrowings
Other external commercial borrowings	0.000	178.953
Working capital loans from banks	932.700	479.950
Other loans and advances	0.518	2.216
Total	933.271	661.731

Banking Relations :	--
Auditors :
Name :	M.G. Bohara and Company Chartered Accountant
Address :	Cresent Court, 4th Floor, Suite No. 23, 963, Poonamalle High Road, Chennai-600084, Tamilnadu, India
PAN No.:	AALFM7723P
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Kamachi Steels Limited CIN No.: U27105TN1995PLC030850 · Kamachi Sponge and Power Corporation Limited CIN No.: U27106TN2003PLC051727 · Maa Durga Enterprises Limited CIN No.: U27107GA2002PLC003121 · Goyal Ispat Limited CIN No.: U27104TN1990PLC019711

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4056040	Equity Shares	Rs.10/- each	Rs.40.560 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	40.560	38.760
(b) Reserves & Surplus	118.207	102.871
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	9.000
Total Shareholders’ Funds (1) + (2)	158.767	150.631
(3) Non-Current Liabilities
(a) long-term borrowings	85.252	83.311
(b) Deferred tax liabilities (Net)	0.599	0.475
(c) Other long term liabilities	412.507	221.574
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	498.358	305.360
(4) Current Liabilities
(a) Short term borrowings	933.218	661.119
(b) Trade payables	1,272.082	696.463
(c) Other current liabilities	97.414	19.246
(d) Short-term provisions	5.129	3.622
Total Current Liabilities (4)	2,307.843	1,380.450
TOTAL	2,964.968	1,836.441
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	14.271	14.445
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	13.250	13.250
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	46.925	4.120
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	74.446	31.815
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	752.688	390.763
(c) Trade receivables	1,788.966	1,078.584
(d) Cash and cash equivalents	146.875	287.583
(e) Short-term loans and advances	183.993	47.696
(f) Other current assets	0.000	0.000
Total Current Assets	2,872.522	1,804.626
TOTAL	2,946.968	1,836.441

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		33.340
2] Share Application Money		15.000
3] Reserves & Surplus		70.575
4] (Accumulated Losses)		0.000
NETWORTH		118.915
LOAN FUNDS
1] Secured Loans		409.228
2] Unsecured Loans		267.756
TOTAL BORROWING		676.984
DEFERRED TAX LIABILITIES		0.269
TOTAL		796.168
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		14.984
Capital work-in-progress		0.000
INVESTMENT		25.550
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	539.854
	Sundry Debtors	560.875
	Cash & Bank Balances	45.412
	Other Current Assets	2.553
	Loans & Advances	63.004
Total Current Assets		1211.698
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	441.051
	Other Current Liabilities	9.182
	Provisions	5.831
Total Current Liabilities		456.064
Net Current Assets		755.634
MISCELLANEOUS EXPENSES		0.000
TOTAL		796.168

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	6,104.296	4,418.968	3687.259
		Other Income	0.000	0.000	2.945
		TOTAL (A)	6,104.296	4,418.968	3690.204
Less	EXPENSES
		Purchases of Stock-in-Trade	6,300.257	4,094.402
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(361.925)	149.091
		Employees benefits expense	1.932	1.399
		Other expenses	90.430	92.030
		TOTAL (B)	6,030.694	4,336.922	3619.576
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		73.602	82.046	70.628
Less	FINANCIAL EXPENSES (D)		58.356	62.553	50.796
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.246	19.493	19.832
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.459	1.482	1.665
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		13.787	18.011	18.167
Less	TAX (H)		5.651	7.396	6.014
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		8.136	10.615	12.153
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		44.226	31.783	19.630
	BALANCE CARRIED TO THE B/S		52.362	44.226	31.783
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	147.307	NA	432.638
	TOTAL EARNINGS		147.307	NA	432.638
	Earnings Per Share (Rs.)		2.01	2.74	0.54

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.13	0.24	0.33
Net Profit Margin (PBT/Sales)	(%)	0.23	0.41	0.49
Return on Total Assets (PBT/Total Assets}	(%)	0.47	0.99	1.48
Return on Investment (ROI) (PBT/Networth)		0.09	0.12	0.15
Debt Equity Ratio (Total Debt /Networth)		6.41	4.94	5.69
Current Ratio (Current Asset/Current Liability)		1.24	1.31	2.66

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	33.340	38.760	40.560
Reserves & Surplus	70.575	102.871	118.207
Share Application money pending allotment	15.000	9.000	0.000
Net worth	118.915	150.631	158.767
long-term borrowings	409.228	661.731	933.271
Short term borrowings	267.756	82.699	85.199
Total borrowings	676.984	744.430	1018.470
Debt/Equity ratio	5.693	4.942	6.415

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	3,687.259	4,418.968	6,104.296
		19.844	38.138

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	3,687.259	4,418.968	6,104.296
Profit	12.153	10.615	8.136
	0.33%	0.24%	0.13%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Intercorporate borrowings	44.799	42.299
Loans and advances from related parties	40.400	40.400
Total	85.199	82.699

PERFORMANCE:

During the year, the company achieved a total turnover of Rs.6104.296 Millions (Rupees Six hundred and Ten Crores Forty Two Lakhs Ninety Five Thousand Eight Hundred and Forty Only). The profit for the year is Rs.8.135 Millions (Rupees Eighty One Lakhs Thirty Four Thousand Seven Hundred and Fifteen Only)

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	80054224	30/06/2014 *	670,000,000.00	Union Bank of India	Washermanpet Branch, 17 G.A Road, Old Washermanpet, Chennai, Tamilnadu - 600021, India	C12322400

*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.60.15
UK Pound	1	Rs.101.92
Euro	1	Rs.80.64

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUM
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		30

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.