1. Summary Information

		Country	India
Company Name	COATINGS SPECIALITIES (INDIA) LIMITED	Principal Name 1	Mr. Jalraj Ashwin Dani
Status	Satisfactory	Principal Name 2	Mr. Ina Ashwin Dani
		Registration #	11-020745
Street Address	3A, Barodawala Mansion, 1^st FL81, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra.
Established Date	04.11.1978	SIC Code	--
Telephone#	91-22-24938687	Business Style 1	Trader
Fax #	91-22-24974886	Business Style 2	-
Homepage	www.coatingspl.com	Product Name 1	Chemicals
# of employees	25 (Approximately)	Product Name 2	-
Paid up capital	Rs. 500,000/-	Product Name 3	-
Shareholders	Bodies corporate – 99.60% Directors or relatives of Directors – 0.40%	Banking	Kotak Mahindra Bank Limited
Public Limited Corp.	NO	Business Period	36 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (50)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	157,966,000	Current Liabilities	42,072,000
Inventories	66,279,000	Long-term Liabilities	83,203,000
Fixed Assets	24,948,000	Other Liabilities	3,775,000
Deferred Assets	4,217,000	Total Liabilities	129,050,000
Invest& other Assets	35,658,000	Retained Earnings	159,518,000
		Net Worth	160,018,000
Total Assets	289,068,000	Total Liab. & Equity	289,068,000
Total Assets (Previous Year)	301,175,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	429,836,000	Net Profit	13,259,000
Sales(Previous yr)	352,026,000	Net Profit(Prev.yr)	8,692,000

MIRA INFORM REPORT

Report Date :

05.08.2014

IDENTIFICATION DETAILS

Name :	COATINGS SPECIALITIES (INDIA) LIMITED
Registered Office :	3A, Barodawala Mansion, 1^st FL81, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra.
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.11.1978
Com. Reg. No.:	11-020745
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U65990MH1978PLC020745
TAN No.: [Tax Deduction & Collection Account No.]	MUMR14817F
PAN No.: [Permanent Account No.]	AACCC2732N
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Trader of Chemicals
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 640000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Financial position of the company seems to be sound Trade relations are reported as fair. Business is active. Payment terms 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 – 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.

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 PARTED BY

Name :	Mr. Vaibhav Jadhav
Designation :	Admin Department
Contact No.:	91-9768134134
Date :	1.08.2014

LOCATIONS

Registered Office :	3A, Barodawala Mansion, 1^st FL81, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India
Tel. No.:	91-22-24938687
Mobile No.:	91-9768134134 (Mr. Vaibhav Jadhav)
Fax No.:	91-22-24974886
E-Mail :	vibhav.jadhav@hitechplast.in admin@coatingspl.com
Website :	http://www.coatingspl.com
Location :	Owned and Commercial
Corporate Office 1 :	Welspun House, 2^nd Floor, Kamla City (Kamla Mills), Senapati Bapat Road, Lowerparel (w), Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-40016500
Corporate Office 2 :	C – 130, Solaris 1, Opposite L and T Gate No. 6, Saki Vihar Road, Powai, Mumbai – 400072, Maharashtra, India
Tel. No.:	91-33-235-82364
Fax No.:	91-93-235-82364
E-Mail :	amit_shah@chemoindia.com
Website:	www.coatingspl.com

DIRECTORS

AS ON 12.09.2013

Name :

Mr. Jalaj Ashwin Dani

Designation :

Director

Address :

Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

20.10.1969

Date of Appointment :

01.06.1993

Voter ID No. :

M/T04/024/204120

DIN No. :

00019080

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	U73100MH1983PTC031318	S C DANI RESEARCH FOUNDATION PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
2	U65990MH1981PTC025949	DANI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Amalgamated	NO
3	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
4	U65990MH1980PTC023336	DANI TRADING AND INVESTMENTS Private LIMITED	Director	01/06/1993	01/06/1993	-	Amalgamated	NO
5	L99999MH1984PLC085950	DANI FINLEASE LIMITED	Director	25/01/1994	25/01/1994	-	Active	NO
6	U65921DL1984PLC019402	DANI FINLEASE LIMITED	Director	25/01/1994	25/01/1994	-	Not Available for eFiling	NO
7	U65990MH1981PTC025831	DANI CAPITAL AND INVESTMENTS COMPANY PRIVATE LIMITED	Director	24/08/1995	24/08/1995	-	Amalgamated	NO
8	L99999GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Director	30/01/1999	30/01/1999	-	Active	NO
9	U65991MH1994PTC078880	JM FINANCIAL TRUSTEE COMPANY PRIVATE LIMITED	Director	19/09/2001	19/09/2001	-	Active	NO
10	U15136KA1996PTC021007	MTR FOODS Private LIMITED	Director	03/09/2003	03/09/2003	03/04/2007	Active	NO
11	L28992MH1991PLC168235	HITECH PLAST LIMITED	Director	12/09/2004	12/09/2004	-	Active	NO
12	U74140MH1997NPL111167	YOUNG PRESIDENTS ORGANIZATION (MUMBAI CHAPTER)	Director	01/07/2013	01/07/2006	-	Active	NO
13	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	19/09/2008	20/08/2007	-	Active	NO
14	U45400MH2007PLC175925	MAXBHUMI DEVELOPERS LIMITED	Director	22/02/2008	29/01/2008	-	Active	NO
15	U65923MH2010PTC201679	VIJAL HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	05/04/2010	05/04/2010	-	Active	NO
16	U65921MH2010PTC207201	HAISH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	27/02/2012	05/02/2011	-	Active	NO
17	U65191MH2012PTC230704	SMITI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	18/06/2012	18/06/2012	-	Active	NO
18	U24110MH1979PLC031289	PRAGATI CHEMICALS LIMITED	Director	04/09/2013	26/07/2012	-	Active	NO
19	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	09/09/2013	15/03/2013	-	Amalgamated	NO
20	U51900MH2013PTC243068	HYDRA TRADING PRIVATE LIMITED	Director	07/05/2013	07/05/2013	-	Active	NO
21	U24110MH2011PTC220557	ASIAN PAINTS PPG Private Limited	Director appointed in casual vacancy	14/10/2013	14/10/2013	-	Active	NO
22	AAA-1197	PARJANYA COMMERCIALS LLP	Designated Partner	10/08/2010	10/08/2010	-	Active	NO
23	AAB-1547	CRONUS MERCHANDISE LLP	Designated Partner	08/10/2012	08/10/2012	-	Active	NO

Name :

Mr. Ina Ashwin Dani

Designation :

Chairman

Address :

Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

19.03.1942

Date of Appointment :

31.03.1998

Voter ID No. :

MT/04/024/204121

DIN No. :

00053695

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	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	22/02/1979	22/02/1979	-	Active	NO
2	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	12/11/1979	12/11/1979	25/03/2013	Amalgamated	NO
3	U67120MH1979PTC021907	DANI ENTERPRISES PRIVATE LIMITED	Director	17/11/1979	17/11/1979	-	Amalgamated	NO
4	U65990MH1988PTC050154	RANGMEET INVESTMENTS Private LIMITED	Director	23/12/1988	23/12/1988	-	Amalgamated	NO
5	U65922MH1988PTC050152	OMEGA PROPERTIES PRIVATE LIMITED	Director	28/12/1988	28/12/1988	22/08/2013	Amalgamated	NO
6	U65990MH1978PTC020746	DANI SECURITIES Private LIMITED	Director	09/05/1992	09/05/1992	-	Amalgamated	NO
7	U67120MH1985PTC035633	HIREN HOLDINGS PRIVATE LIMITED	Director	01/10/1993	01/10/1993	22/08/2013	Active	NO
8	U67120MH1983PTC029562	PRAGATI MARKETING PRIVATE LIMITED	Director	02/04/1996	02/04/1996	-	Strike off	NO
9	U65990MH1981PTC025949	DANI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	31/03/1998	31/03/1998	-	Amalgamated	NO
10	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	31/03/1998	31/03/1998	-	Active	NO
11	U65990MH1980PTC023336	DANI TRADING AND INVESTMENTS Private LIMITED	Director	31/03/1998	31/03/1998	-	Amalgamated	NO
12	L99999MH1984PLC085950	DANI FINLEASE LIMITED	Director	25/06/1998	25/06/1998	-	Active	NO
13	U65921DL1984PLC019402	DANI FINLEASE LIMITED	Director	25/06/1998	25/06/1998	-	Not Available for eFiling	NO
14	U24200TN2008PTC067561	Suryakant Paint Accessories Private Limited	Director	21/07/2009	08/05/2008	-	Active	NO
15	L28992MH1991PLC168235	HITECH PLAST LIMITED	Director	04/09/2010	30/01/2010	-	Active	NO
16	L24220MH1945PLC004598	ASIAN PAINTS LIMITED	Director	24/06/2011	27/07/2010	21/10/2013	Active	NO
17	U65923MH2011PTC214070	Isis Holding and Trading Company Private Limited	Managing director	28/02/2013	26/02/2011	-	Active	NO
18	U65191MH2012PTC230704	SMITI HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	08/05/2012	08/05/2012	25/06/2012	Active	NO
19	U65923MH2012PTC230703	RAYIRTH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	08/05/2012	08/05/2012	-	Active	NO
20	U80904MH2012PTC235386	ISIS SKILLS DEVELOPMENT PRIVATE LIMITED	Director	06/09/2012	06/09/2012	-	Active	NO
21	U51101MH2013PTC242927	CANES VENATICI TRADING PRIVATE LIMITED	Director	04/05/2013	04/05/2013	-	Active	NO
22	U65900MH2013PTC245053	RITUH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	01/07/2013	01/07/2013	-	Active	NO
23	U65923MH2013PTC245582	AVINASH HOLDING AND TRADING COMPANY PRIVATE LIMITED	Director	12/07/2013	12/07/2013	-	Active	NO
24	AAB-2395	NARADIYA COMMERCIAL LLP	Designated Partner	03/12/2012	03/12/2012	-	Active	NO

Name :

Mr. Amrish B Parikh

Designation :

Director

Address :

5 Shrusti – IV Near Parimal Hospital Taluka LG Corner Maninagar, Ahmedabad – 380008, Gujarat, India

Date of Birth/Age :

18.01.1940

Date of Appointment :

29.06.1995

DIN No. :

00101289

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	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	29/06/1995	29/06/1995	-	Active	NO
2	L99999GJ1978PLC022924	GUJARAT ORGANICS LIMITED	Director	24/09/2009	06/04/2009	27/01/2014	Active	NO

Name :

Mr. Malav Ashwin Dani

Designation :

Director

Address :

Home Villa Co-Operative Housing Society, 48, K Sanghi Path, Gamdevi, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

26.11.1975

Date of Appointment :

12.07.2012

Voter ID No. :

MT/04/024/204120

DIN No. :

01184336

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	L28992MH1991PLC168235	HITECH PLAST LIMITED	Managing director	05/08/2011	30/01/2007	-	Active	NO
2	U65990MH1978PLC020745	COATINGS SPECIALITIES (INDIA) LIMITED	Director	12/07/2012	05/02/2007	-	Active	NO
3	U65990MH1979PTC021049	GEETANJALI TRADING AND INVESTMENTS Private LIMITED	Director	19/09/2008	20/08/2007	-	Active	NO
4	U66000MH2008PLC181725	RANGUDYAN INSURANCE BROKING SERVICES LIMITED	Director	29/04/2008	29/04/2008	-	Active	NO
5	U24200TN2008PTC067561	Suryakant Paint Accessories Private Limited	Director	30/04/2008	30/04/2008	-	Active	NO
6	U65923MH2011PTC214070	Isis Holding and Trading Company Private Limited	Director	13/02/2013	26/02/2011	-	Active	NO
7	U25202MH1986PLC038626	CLEAR MIPAK PACKAGING SOLUTIONS LIMITED	Director	11/08/2012	04/02/2012	-	Active	NO
8	U80904MH2012PTC235386	ISIS SKILLS DEVELOPMENT PRIVATE LIMITED	Director	06/09/2012	06/09/2012	-	Active	NO
9	U67120MH1979PTC021873	SUPRASAD INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	09/09/2013	15/03/2013	-	Amalgamated	NO
10	U51101MH2013PTC242927	CANES VENATICI TRADING PRIVATE LIMITED	Director	04/05/2013	04/05/2013	-	Active	NO
11	L24220MH1945PLC004598	ASIAN PAINTS LIMITED	Director	26/06/2014	21/10/2013	-	Active	NO
12	AAB-2395	NARADIYA COMMERCIAL LLP	Designated Partner	03/12/2012	03/12/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.09.2013

Names of Shareholders	No. of Shares
Geetanjali Trading and Investments Private Limited, Mumbai	49700
Ashwin S Dani	50
Ina A Dani	50
Jalaj A Dani	50
Malav A Dani	50
Dusara Parsottam Bhupendra	50
Jatin R Shah	50
Total	50000

As on 12.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	99.60
Directors or relatives of Directors	0.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Chemicals
Exports :
Products :	Finished Goods
Countries :	Not Divulged
Imports :
Products :	Finished Goods
Countries :	Not Divulged
Terms :
Selling :	L/C and Credit
Purchasing :	L/C and Credit

GENERAL INFORMATION

No. of Employees :

25 (Approximately)

Bankers :

Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D Nariman Point, Mumbai – 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
Term Loans
Cash Credit from Kotak Mahindra Bank
Indian rupee loan from bank	38.378	21.903
Foreign currency loan from banks Buyers Credit	0.000	15.464
Total	38.378	37.367

· Working capital loans are secured by First and exclusive hypothecation charge on all existing and future current assets, immovable properties being land and building Situated at vilage Tunga.

· Overdraft ( CC ) current account carried interest rate @ 13,25% and WCDL 11.00% p.a.

· Default in terms of repayment of principal and Interest - NIL

Banking Relations :	--
Auditors :
Name :	Deepak Shah and Company Chartered Accountants
Address :	401, Maker Bhavan – 3, 21, New Marine Lines, Mumbai - 400020, Maharashtra, India
Tel. No.:	91-22-66332641 / 22090593.
E-Mail :	dnshah@mtnl.net.in
PAN No.:	AAGPS7958D
Companies over which the directors have significant influence or control :	Geetanjali Trading and Investments Private Limited Asian Paints Limited Hitech Plast Limited         Clear Mipak Packaging Solutions Limited Dani Finlease Limited  Gujarat Organics Limited  Suryakant Paint Accessories Private Limited ISIS Skills Development Private Limited ISIS Holding and Trading Company Private Limited PPG Asian Paints Private Limited
Subsidiary :	Rangudyan Insurance Broking service Limited

CAPITAL STRUCTURE

As on 12.09.2013

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- Each	Rs.0.500 Million
450000	Preference Shares	Rs.10/- each	Rs.4.500 Millions
	Total		Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- Each	Rs.0.500 Million

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	0.500	0.500	0.500
(b) Reserves & Surplus	159.518	148.921	143.672
(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)	160.018	149.421	144.172
(3) Non-Current Liabilities
(a) long-term borrowings	44.825	25.100	23.600
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	44.825	25.100	23.600
(4) Current Liabilities
(a) Short term borrowings	38.378	38.812	59.126
(b) Trade payables	26.023	37.284	31.174
(c) Other current liabilities	16.049	32.692	33.065
(d) Short-term provisions	3.775	17.866	8.215
Total Current Liabilities (4)	84.225	126.654	131.580
TOTAL	289.068	301.175	299.352
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	24.948	27.082	29.302
(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	35.658	51.831	54.473
(c) Deferred tax assets (net)	4.217	4.321	1.152
(d) Long-term Loan and Advances	12.001	32.315	26.486
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	76.824	115.549	111.413
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	66.279	64.954	77.338
(c) Trade receivables	139.395	105.555	89.603
(d) Cash and cash equivalents	1.198	4.719	2.467
(e) Short-term loans and advances	4.947	10.148	17.041
(f) Other current assets	0.425	0.250	1.490
Total Current Assets	212.244	185.626	187.939
TOTAL	289.068	301.175	299.352

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	429.836	352.026	287.687
		Other Income	39.673	30.454	27.041
		Commission Received	23.124	22.946	17.039
		TOTAL (A)	492.633	405.426	331.767
Less	EXPENSES
		Cost of Materials Consumed	374.061	295.071	243.026
		Changes in Inventories of Finished Goods	0.000	4.336	(4.336)
		Employees Benefits Expenses	58.232	53.241	45.206
		Administration and selling expenses	0.000	0.000	0.000
		Other expenses	28.356	32.111	35.057
		TOTAL (B)	460.649	384.759	318.953
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		31.984	20.667	12.814
Less	FINANCIAL EXPENSES (D)		9.064	10.807	5.990
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.920	9.860	6.824
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.370	1.731	1.799
	PROFIT BEFORE TAX (E-F) (G)		21.550	8.129	5.025
Less	TAX (H)		8.291	(0.563)	1.661
	PROFIT AFTER TAX (G-H) (I)		13.259	8.692	3.364
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		76.856	73.413	71.059
Less	APPROPRIATIONS
		Transfer to General Reserve	1.326	0.869	0.336
		Transfer to Special Reserve	2.652	1.738	0.673
		Provision for Diminution	1.900	2.641	0.000
	BALANCE CARRIED TO THE B/S		84.237	76.857	73.414
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	29.204	0.000
		Commission Earnings	NA	0.000	26.991
	TOTAL EARNINGS		NA	29.204	26.991
	IMPORTS
		Raw Materials	0.000	0.753	1.501
		Traded Goods	263.334	200.880	162.990
		Other Traded Goods	3.995	1.325
	TOTAL IMPORTS		267.329	202.958	164.491
	Earnings Per Share (Rs.)		265.19	173.83	67.27

Particulars	31.03.2014
Sales Turnover (Approximately)	500.000

The above information has been parted by Mr. Vaibhav jadhav (Admin Department)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.69	2.14	1.01
Net Profit Margin (PBT/Sales)	(%)	5.01	2.31	1.75
Return on Total Assets (PBT/Total Assets}	(%)	8.65	3.32	2.06
Return on Investment (ROI) (PBT/Networth)		0.13	0.05	0.03
Debt Equity Ratio (Total Debt /Networth)		0.52	0.43	0.57
Current Ratio (Current Asset/Current Liability)		2.52	1.47	1.43

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	0.500	0.500	0.500
Reserves & Surplus	143.672	148.921	159.518
Net worth	144.172	149.421	160.018
long-term borrowings	23.600	25.100	44.825
Short term borrowings	59.126	38.812	38.378
Total borrowings	82.726	63.912	83.203
Debt/Equity ratio	0.574	0.428	0.520

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	287.687	352.026	429.836
		22.364	22.103

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	287.687	352.026	429.836
Profit	3.364	8.692	13.258
	1.17%	2.47%	3.08%

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 four 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	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes
34]	External Agency Rating, if available	No

BUSINESS REVIEW OPERATIONS

During the year, Net revenue has increased to Rs. 492.634 Millions from Rs. 405.426 Millions previous year, registering a growth of 22% as compared to previous year. The profits before tax of the company for the year has improved to Rs. 21.550 Millions compared to previous year Rs. 8.129 Millions registering growth of 165%. The Directors are glad to report that they are confident of maintaining this accelerated growth in the business during the current year. DIVIDEND Your Directors do not recommend any dividend on equity shares for the year ended 31st March, 2013. FIXED DEPOSITS There are no deposits within the meaning of section 58 A of the Companies Act, 1956, outstanding with the Company. HUMAN RESOURCES Your Company believes that human resource is the key to the success of the organization. During the year, emphasis was on training and development of human resources.

OPPORTUNITIES, THREATS AND FUTURE OUTLOOK

The year ahead appears challenging with the volatility in the market, increased and new competition, rupee depreciation volatile foreign exchange, high interest rates and inflation. The company is geared to meet the challenges. The company will adopt appropriate strategies to understand the needs of the customers and align the offering vis-a.-vis products, product mix, services levels, quality and delivery.

HOLDING COMPANY

The Company is a wholly owned subsidiary of Geetanjali Trading And Investments Private Limited, which holds 100% of the Equity Share capital of the Company.

SUBSIDIARY COMPANIES

The Company's subsidiary, Rangudyan Insurance Broking Services Limited has shown good performance during the year 2012 - 2013 and reported a profit of Rs. 0.785 Millions. This is viewed satisfactory given the experience the Company has in service industry.

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10013429	03/06/2011 *	40,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA	B14736920
2	90241424	03/06/2011 *	80,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA	B14432413

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Others Loans and Advances
Loans and advances from related parties Corporate Bodies (##)	44.825	25.100
SHORT TERM BORROWINGS
Loans and advances from related parties Corporate Bodies (##)	0.000	1.445
Total	44.825	26.545

· Includes Interest free loan from Holding company amount to Rs. 30.357 Millions ( PY 15.100 Millions)

· Includes Loan with interest from HOlding company of Rs. 14.458 Millions@ 12 %,(P.Y. 10.000 Millions @ 12%)

· Default !nterms of repayment of principal and interest – NiL

CONTINGENT LIABILITIES:

PARTICULARS	Currency	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Letter of Credit and Bank guarantees issued by Bankers and outstanding as on 31^st March, 2013		--	7.933
The company uses forward exchange contracts to hedge against its foreign currency exposures relating to the underlying transaction and firm commitments. The company does not enter into any derivative instruments for trading or speculative purposes The Forward exchange contract outstanding as 31^st March, 2013	USD Euro	16.906	1.852 0.819
Total		16.906	10.604

FIXED ASSETS:

• Office Premise
• Furniture and Fixtures
• Motor Car
• Electrical Installation
• Office Equipment
• Fax Machine
• Xerox Copier
• Computer
• Air Conditioner
• EPABX and Telephone
• Plant and Machinery
• Laboratory Equipment
• Factory Equipment

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 records 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. 61.01
UK Pound	1	Rs. 102.69
Euro	1	Rs. 81.90

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	RAS
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.