MIRA INFORM REPORT

Report Date :

14.08.2014

IDENTIFICATION DETAILS

Name :	KOTHARI HOSIERY FACTORY PRIVATE LIMITED
Registered Office :	29, Strand Road, 2^nd Floor, Kolkata – 700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.08.1988
Com. Reg. No.:	21-044899
Capital Investment / Paid-up Capital :	Rs.144.864 Million
CIN No.: [Company Identification No.]	U17111WB1988PTC044899
TAN No.: [Tax Deduction & Collection Account No.]	CALK05421D
PAN No.: [Permanent Account No.]	AABCK3398K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Hosiery Products.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1300000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is good. 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. Satinath Roy
Designation :	Accountant
Contact No.:	91-9883812222
Date :	31.07.2014

LOCATIONS

Registered Office :	29, Strand Road, 2^nd Floor, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-22439371/ 22439372/ 22439373
Fax No.:	91-33-22433109
E-Mail :	shriksna@cal.vsnl.net.in shrikhna@vsnl.net.in
Website :	http://www.kotharihosr.com
Location :	Owned
Factory :	24, Chawal Pathy Road, Kolkata, West Bengal, India
Location :	Owned

DIRECTORS

As on 25.09.2013

Name :

Mr. Dau Dayal Kothari

Designation :

Chairman cum Managing Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

05.12.1934

Date of Appointment :

22.09.1999

DIN No.:

00233255

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	U21016WB1969PTC027630	SKCC PAPER AND BOARD PRIVATE LIMITED	Director	22/12/1969	22/12/1969	-	Active	NO
2	U21029WB1972PTC028494	SHREE KRISHNA PACKAGING CO PRIVATE LIMITED	Director	23/08/1972	23/08/1972	-	Active	NO
3	U18109WB1976PTC030581	KOTHARI KNITTING MILLS PRIVATE LIMITED	Director	14/06/1976	14/06/1976	-	Active	NO
4	U51109WB1948PLC017081	SRI KRISHNA COMMERCIAL CO LTD	Director	27/06/1984	27/06/1984	-	Active	NO
5	U91990MH1977GAP019958	FEDERATION OF HOSIERY MANUFACTURERS ASSOCIATION OF INDIA	Director	25/04/1990	25/04/1990	25/04/2010	Active	NO
6	L24119OR1962PLC007123	JAYSHREE CHEMICALS LIMITED	Director	23/03/1992	23/03/1992	-	Active	NO
7	U51909WB1995PTC074387	ANNANT SHREE VINIYOG PRIVATE LIMITED	Director	20/09/1995	20/09/1995	-	Active	NO
8	U65921WB1999PTC090343	SHREE KRISHNA HOSIERY PRIVATE LIMITED	Director	22/09/1999	22/09/1999	-	Active	NO
9	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PRIVATE LIMITED	Director	22/09/1999	22/09/1999	-	Active	NO
10	U51909WB2009PTC134052	KOTHARI DISTRIBUTION PRIVATE LIMITED	Director	20/03/2009	20/03/2009	-	Active	NO
11	U74999MH2010PTC209384	MUDIT MOHAN TRADECOM PRIVATE LIMITED	Director	25/10/2010	25/10/2010	-	Active	NO
12	U45400WB2011PTC167043	KOTHARI BHAIPA PRIVATE LIMITED	Director	01/09/2011	01/09/2011	-	Active	NO

Name :

Mr. Bithal Das Kothari

Designation :

Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

21.03.1943

Date of Appointment :

01.08.1988

DIN No.:

00233474

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	U21016WB1969PTC027630	SKCC PAPER & BOARD PRIVATE LIMITED	Director	22/12/1969	22/12/1969	-	Active	NO
2	U21029WB1972PTC028494	SHREE KRISHNA PACKAGING CO PRIVATE LIMITED	Director	23/08/1972	23/08/1972	-	Active	NO
3	U18109WB1976PTC030581	KOTHARI KNITTING MILLS P LTD	Director	14/06/1976	14/06/1976	-	Active	NO
4	U51109WB1948PLC017081	SRI KRISHNA COMMERCIAL CO LTD	Director	27/06/1984	27/06/1984	-	Active	NO
5	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PVT LTD	Director	01/08/1988	01/08/1988	-	Active	NO
6	U51909WB1995PTC074387	ANNANT SHREE VINIYOG PRIVATE LIMITED.	Director	20/09/1995	20/09/1995	-	Active	NO
7	U18101WB1999PTC090683	KOTHARI PROCESSORS PRIVATE LIMITED	Director	15/07/2002	15/07/2002	15/02/2007	Active	NO
8	U17200WB2007PLC119888	WEST BENGAL HOSIERY PARK INFRASTRUCTURE LIMITED	Director	18/10/2007	18/10/2007	-	Active	NO
9	U51109WB2006PTC108524	JALTARANG VINIMAY PRIVATE LIMITED	Director	01/04/2009	01/04/2009	-	Active	NO
10	U51109WB1947PTC015814	MEHROTRA & CO PRIVATE LIMITED	Director	01/04/2009	01/04/2009	-	Active	NO
11	U91990MH1977GAP019958	FEDERATION OF HOSIERY MANUFACTURERS ASSOCIATION OF INDIA	Director	25/04/2010	25/04/2010	-	Active	NO
12	U63090WB2014PTC202881	NEURON LOGISTICS PRIVATE LIMITED	Director	05/08/2014	05/08/2014	-	Active	NO

Name :

Mr. Man Mohan Kothari

Designation :

Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

12.12.1968

Date of Appointment :

01.04.2008

DIN No.:

00233353

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	U18101WB1999PTC090683	KOTHARI PROCESSORS PRIVATE LIMITED	Director	04/09/2000	04/09/2000	15/02/2007	Active	NO
2	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO

Name :

Mr. Kishore Kumar Kothari

Designation :

Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

14.09.1972

Date of Appointment :

01.04.2008

DIN No.:

00239119

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	U65921WB1999PTC090343	SHREE KRISHNA HOSIERY PRIVATE LIMITED	Director	22/09/1999	22/09/1999	-	Active	NO
2	U51909WB1995PTC074387	ANNANT SHREE VINIYOG PRIVATE LIMITED.	Director	03/12/2001	03/12/2001	-	Active	NO
3	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
4	U51909WB2009PTC134052	KOTHARI DISTRIBUTION PRIVATE LIMITED	Director	20/03/2009	20/03/2009	-	Active	NO

Name :

Mr. Keshav Kumar Kothari

Designation :

Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

16.01.1970

Date of Appointment :

01.04.2008

DIN No.:

00233394

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	U51109WB1948PLC017081	SRI KRISHNA COMMERCIAL CO LTD	Director	31/05/1999	31/05/1999	-	Active	NO
2	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO

Name :

Mr. Krishna Kumar Kothari

Designation :

Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

13.10.1957

Date of Appointment :

01.04.2008

DIN No.:

00233174

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	L01132WB1874PLC000281	MOTHOLA COMPANY LTD	Director	19/08/1992	19/08/1992	-	Active	NO
2	U51109WB1997PTC082660	SKC TRADE AND FINANCE PRIVATE LIMITED	Director	21/01/1997	21/01/1997	22/08/2012	Active	NO
3	U65921WB1999PTC090343	SHREE KRISHNA HOSIERY PRIVATE LIMITED	Director	22/09/1999	22/09/1999	-	Active	NO
4	U51909WB1995PTC074387	ANNANT SHREE VINIYOG PRIVATE LIMITED	Director	03/12/2001	03/12/2001	-	Active	NO
5	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
6	U51909WB2009PTC134052	KOTHARI DISTRIBUTION PRIVATE LIMITED	Director	20/03/2009	20/03/2009	-	Active	NO
7	U17120WB2011PTC169612	BUMBLE BEE GARMENTS PRIVATE LIMITED	Director	18/11/2011	18/11/2011	-	Active	NO
8	U63090WB2014PTC202881	NEURON LOGISTICS PRIVATE LIMITED	Director	05/08/2014	05/08/2014	-	Active	NO

Name :

Mr. Kamal Kumar Kothari

Designation :

Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

05.06.1959

Date of Appointment :

01.04.2008

DIN No.:

00233217

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	U51109WB1948PLC017081	SRI KRISHNA COMMERCIAL CO LTD	Director	31/05/1999	31/05/1999	-	Active	NO
2	U65921WB1999PTC090343	SHREE KRISHNA HOSIERY PRIVATE LIMITED	Director	22/09/1999	22/09/1999	-	Active	NO
3	U51909WB1995PTC074387	ANNANT SHREE VINIYOG PRIVATE LIMITED	Director	03/12/2001	03/12/2001	-	Active	NO
4	U21016WB1969PTC027630	SKCC PAPER AND BOARD PVT LTD	Director	01/04/2008	01/04/2008	-	Active	NO
5	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PVT LTD	Director	01/04/2008	01/04/2008	-	Active	NO
6	U51909WB2009PTC134052	KOTHARI DISTRIBUTION PRIVATE LIMITED	Director	20/03/2009	20/03/2009	-	Active	NO
7	U74999MH2010PTC209384	MUDIT MOHAN TRADECOM PRIVATE LIMITED	Director	25/10/2010	25/10/2010	-	Active	NO

Name :

Mr. Hari Mohan Kothari

Designation :

Director

Address :

Rajshree, 6, Hasting Park Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

05.10.1974

Date of Appointment :

01.04.2008

DIN No.:

00233318

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	U18101WB1999PTC090683	KOTHARI PROCESSORS PRIVATE LIMITED	Director	04/09/2000	04/09/2000	-	Active	NO
2	U17111WB1988PTC044899	KOTHARI HOSIERY FACTORY PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Satinath Roy
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2013

Names of Shareholders	No. of Shares
Dau Dayal Kothari	606990
Bithal Das Kothari	33190
Man Mohan Kothari	1074450
Kishore Kumar Kothari	1405300
Keshav Kumar Kothari	1376250
Krishna Kumar Kothari	1408800
Kamal Kumar Kothari	1409250
Hari Mohan Kothari	1071500
Dwarka Das Kothari (HUF)	3450600
Bithal Das Kothari (HUF)	2647800
Kalpana Maloo	90
Kavita Bihani	90
Krishna Kanta Bagri	135
Savita Kothari	450
Kirti Kothari	450
Rohit Kothari	450
Sushila Kothari	135
Srikanta Devi Kothari	486
Total	14486416

As on 25.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Hosiery Products.
Exports :
Products :	Knitted Bed Sheets Blankets T-Shirts Casual Wear Winter Wear Briefs Socks Vests Other Hosiery Goods
Countries :	· Dubai · Yaman
Imports :	Rae Material
Products :
Countries :	· Germany · Japan
Terms :
Selling :	Cash and Advance
Purchasing :	Cash and Advance

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Than	Kgs.	N.A.	N.A.	1310006
Hosiery Goods	Pcs.	N.A.	N.A.	10279368

Production is inclusive of internal consumption of year.

License and installed capacities is certified by the management.

GENERAL INFORMATION

Customers :

Wholesalers, Retailers, End Users, OEM’s and Others

No. of Employees :

50 (Approximately)

Bankers :

• UCO Bank, Burranbazar Branch, 1, Sambhu Mullick Lane, Kolkata – 700 007, West Bengal, India
• Standard Chartered Bank, Kolkata, West Bengal, India
• Union Bank of India, Mumbai, Maharashtra, India
• State Bank of India
• HDFC Bank
• United Bank of India
• Citibank N.A., Kanak Building, 41, Chowringhee Road, Kolkata – 700 071, West Bengal, India
• ICICI Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Borrowing	34.443	2.149
SHORT TERM BORROWING
Borrowing	169.501	137.279
Total	203.944	139.428

Banking Relations :	---
Auditors :
Name :	Shah and Khandelwal Chartered Accountants
Address :	1/A, Vansittart Row, Kolkata - 700 001, West Bengal, India
Tel. No.:	91-33-22480826/ 0813
PAN No.:	ABSFS6855J
Sister Concern :	Shree Krishna Manufacturing Company Address: 1 Chitpur Ghat Road, Kolkata - 700 002, West Bengal, India · Shree Krishna Hosiery
Enterprises which are owned or have significant influence of or are partners with key management personnel and their relatives :	· Kothari Knitting Mills Private Limited (CIN No. U18109WB1976PTC030581) · Shree Krishna Commercial Corporation · SKCC Paper and Board Private Limited (CIN No. U21016WB1969PTC027630) · Shree Krishna Manufacturing Company · Shree Krishna Traders · Kothari Processors Private Limited (CIN No. U18101WB1999PTC090683) · Shree Krishna Hosiery Private Limited (CIN No. U65921WB1999PTC090343) · Kothari Hosiery Socks Manufacturing Company · Shree Krishna Packaging company Private Limited (CIN No.U21029WB1972PTC028494) · West Bengal Hosiery Park Infrastructure Limited (CIN No.U17200WB2007PLC119888) · Universal Commercial Corporation · Sri Krishna Commercial Company Limited (CIN No.U51109WB1948PLC017081)

CAPITAL STRUCTURE

As on 25.09.2013

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14486416	Equity Shares	Rs.10/- each	Rs.144.864 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	144.864	144.864	15.818
(b) Reserves & Surplus	186.505	111.178	141.733
(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)	331.369	256.042	157.551
(3) Non-Current Liabilities
(a) long-term borrowings	34.443	2.149	0.540
(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)	34.443	2.149	0.540
(4) Current Liabilities
(a) Short term borrowings	169.501	137.833	88.921
(b) Trade payables	62.045	36.442	34.222
(c) Other current liabilities	43.657	42.619	24.938
(d) Short-term provisions	1.370	1.975	6.991
Total Current Liabilities (4)	276.573	218.869	155.072
TOTAL	642.385	477.060	313.163
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	74.455	48.253	37.191
(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	1.505	0.005	0.005
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	31.610	23.617	4.106
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	107.570	71.875	41.302
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	346.715	266.863	183.712
(c) Trade receivables	139.006	115.747	64.815
(d) Cash and cash equivalents	12.259	7.121	6.141
(e) Short-term loans and advances	36.835	15.454	17.193
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	534.815	405.185	271.861
TOTAL	642.385	477.060	313.163

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	976.142	749.699	667.185
		Other Income	12.719	5.471	5.032
		TOTAL	988.861	755.170	672.217
Less	TOTAL EXPENSES		878.720	678.336	586.867
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		120.662	83.066	85.350
Less/ Add	DEPRECIATION/ AMORTISATION		10.520	6.232	4.954
	PROFIT BEFORE TAX		110.142	76.834	80.396
Less	TAX		35.000	26.000	27.000
	PROFIT AFTER TAX		75.142	50.834	53.396
Less	Income Tax for Earlier Year		0.019	2.343	1.785
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		60.224	11.733	60.122
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	100
	BALANCE CARRIED TO THE B/S		135.347	60.224	11.733
	EARNINGS IN FOREIGN CURRENCY
		Foreign Exchange Earnings	11.098	5.409	1.665
	TOTAL EARNINGS		11.098	5.409	1.665
	IMPORTS
		Raw Materials	NA	NA	0.338
	TOTAL IMPORTS		NA	NA	0.338
	Earnings Per Share (Rs.)		5.19	3.51	32.63

Particulars	31.03.2014
Sales Turnover (Approximately)	1200.000

The above information has been parted by Mr. Satinath Roy

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	7.60	6.73	7.94
Net Profit Margin (PBT/Sales)	(%)	11.28	10.25	12.05
Return on Total Assets (PBT/Total Assets}	(%)	17.19	16.11	25.67
Return on Investment (ROI) (PBT/Networth)		0.33	0.30	0.51
Debt Equity Ratio (Total Debt /Networth)		0.62	0.55	0.57
Current Ratio (Current Asset/Current Liability)		1.93	1.85	1.75

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	15.818	144.864	144.864
Reserves & Surplus	141.733	111.178	186.505
Net worth	157.551	256.042	331.369
long-term borrowings	0.540	2.149	34.443
Short term borrowings	88.921	137.833	169.501
Total borrowings	89.461	139.982	203.944
Debt/Equity ratio	0.568	0.547	0.615

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	667.185	749.699	976.142
		12.367	30.205

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	667.185	749.699	976.142
Profit	53.396	50.834	75.142
	8.00%	6.78%	7.70%

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	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)	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	No
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
SHORT TERM BORROWING
Borrowing	0.000	0.554
Total	0.000	0.554

OPERATIONS:

The company has posted an impressive performance with as the turnover growth recorded was more than 30%.

The company has recorded a turnover of Rs. 976.142 Million in the year. The company earned net profit before taxes Rs. 1100142 Million. The amount of net profit available for appropriation after adjustment for prior period item is Rs. 75.327 Million and the same is carried to Reserves and Surplus in the balance sheet.

The excise duty imposed during 2011-12 was made on Brand hosiery and Readymade garments during the Union Budget. In the Union Budget 2012-13. Excise was made optional and the Company decided not to take input credit and thus kept itself out of excise effective 1^st March 2013.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10358523	13/04/2012	36,000,000.00	WEST BENGAL FINANCIAL CORPORATION	12A, N. S. Road, 3rd & 4th Floor, Kolkata, West Bengal - 700001, INDIA	B40550857
2	10294576	24/06/2014 *	330,000,000.00	Citi Bank N.A.	Kanak Building, 41 Chowringhee Road, Kolkata, West Bengal - 700071, INDIA	C07926736

* Date of charge modification

FIXED ASSETS

• Leasehold Land
• Land
• Factory Building
• Office Space
• Furniture and Fixtures
• Silver Utensil
• Office Equipments
• Plant and Machinery
• Motor Car and Scooter
• Computer Machine

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.11
UK Pound	1	Rs.102.53
Euro	1	Rs.81.87

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	ARI

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	5
--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		47

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.