MIRA INFORM REPORT

Report Date :

03.12.2014

IDENTIFICATION DETAILS

Name :	KABRA EXTRUSION TECHNIK LIMITED

Registered Office :	Kolsite House, Off Veera Desai Road, Andheri (West), Mumbai-400053, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	21.10.1982

Com. Reg. No.:	11-028535

Capital Investment / Paid-up Capital :	Rs. 159.512 Millions

CIN No.: [Company Identification No.]	L28900MH1982PLC028535

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	MUMK11319A

PAN No.: [Permanent Account No.]	AAACK4289L

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporter of Extrusion machinery

No. of Employees :	452 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (68)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good

Payment Behaviour :	Regular

Litigation :	Exist

Comments :	Subject is a part of the “Kolsite group”. It is a well established company having fine track. The company possesses a good financial profile marked by favourable networth base along with healthy capital structure and debt protection metrics backed by efficient working capital management. Management has witnessed a decent revenue base as well as net profitability during FY 14. The ratings also take into consideration, the susceptibility to competition from imports and to cyclicality in investments in the plastic products industry However, trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments. In view of experienced promoters and established market position of the subject in the industry, it can be considered good 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

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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating “AA-“
Rating Explanation	High degree of safety and very low credit risk
Date	August 08, 2013

Rating Agency Name	CRISIL
Rating	Short Term Rating “A1+”
Rating Explanation	Very strong degree of safety and lowest credit risk
Date	August 08, 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 PARTED BY

Name :	Mr. Jayant Sarpodar
Designation :	Chief Executive Officer
Contact No.:	91-77-38333092
Date :	28.11.2014

LOCATIONS

Registered Office / Head Office :	Kolsite House, Off Veera Desai Road, Andheri (West), Mumbai-400053, Maharashtra, India
Tel. No.:	91-22-26734822-24 / 56952681 / 26367551 / 26330272
Mobile No.:	91-9322302755 (Mr. Anand Kabra)
Fax No.:	91-22-26735041/56952680/26367512/26326336
E-Mail :	sales@kolsitegroup.com sales@kmfm.kolsitegroup.com secretarial@kolsitegroiup.com
Website :	http://www.kolsite.com

Factory 1 :	Kachigam, Daman Industrial Estate, Plot No. 14 and 15, Kachigam, Daman - 396210, Gujarat, India
Tel. No.:	91-260-2241401-3/2242616
Fax No.:	91-260-2241965
E-Mail :	ket@kolsitegroup.com
Website:	http://www.kolsitegroup.com

Factory 2 :	259/260/265 (lll), Costal Highway, Dunetha, Daman – 396210, Gujarat, India

Regional Office / Branch Office :	Located at: · Ahmedabad · Delhi · Kolkatta · Chennai · Bangalore · Hyderabad

DIRECTORS

AS ON 31.03.2014

Name :

Mr. Shreevallabh G. Kabra

Designation :

Chairman and Managing Director

Address :

46, Vithal Nagar Co-Op Hsg, Soc. Limited, Gopikunj 11^th Road JVPD Scheme Vile Parle (W), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

13.02.1937

Date of Appointment :

01.04.2014

DIN No. :

00015415

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	U25209MH1974PTC017726	MAHASHREE PLASTIC INDUSTRIES PRIVATE LIMITED	Director	28/08/1974	28/08/1974	-	Amalgamated	NO
2	U28910MH1980PTC022877	KOLSITE MASCHINE FABRIK PRIVATE LIMITED	Director	22/07/1980	22/07/1980	-	Amalgamated	NO
3	L28900MH1982PLC028535	KABRA EXTRUSION TECHNIK LTD	Managing director	01/04/2014	21/10/1982	-	Active	NO
4	L25200MH1991PLC059943	PLASTIBLENDS INDIA LIMITED	Managing director	01/01/2012	22/01/1991	-	Active	NO
5	U55101DN1992PLC000043	WONDERWORLD RESORTS LTD (U.T.COMPANY)	Director	06/06/1996	06/06/1996	25/01/2013	Active	NO
6	U25209MH1984NPL032701	ORGANIZATION OF PLASTICS PROCESSORS OF INDIA	Director	31/07/1998	31/07/1998	-	Active	NO
7	U72100MH2000PLC125809	SMARTECH GLOBAL SOLUTIONS LIMITED	Director	12/04/2000	12/04/2000	-	Active	NO
8	U29268MH2009PLC190380	KABRA GLOUCESTER ENGINEERING LIMITED	Director	16/02/2009	16/02/2009	-	Active	NO
9	U99999PN1985PTC035557	GANGES URETHANE PRIVATE LIMITED	Additional director	28/12/2010	28/12/2010	-	Converted to LLP and dissolved	NO
10	U25203MH2011PTC222500	KOLSITE PACKAGING SYSTEMS Private Limited	Director	28/09/2011	28/09/2011	-	Active	NO
11	U91100DL2012NPL239417	PLASTICS MACHINERY MANUFACTURERS ASSOCIATION OF INDIA	Director	27/07/2012	27/07/2012	-	Active	NO

Name :

Mr. Satyanarayan Gopilal Kabra

Designation :

Vice Chairman and Managing Director

Address :

46, Vithal Nagar Co-Op Hsg, Soc. Limited, Gopikunj 11^th Road JVPD Scheme Vile Parle (W), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

09.01.1944

Date of Appointment :

01.07.2013

DIN No. :

00015930

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	U25209MH1974PTC017726	MAHASHREE PLASTIC INDUSTRIES PRIVATE LIMITED	Director	28/08/1974	28/08/1974	-	Amalgamated	NO
2	U28910MH1980PTC022877	KOLSITE MASCHINE FABRIK PRIVATE LIMITED	Director	22/07/1980	22/07/1980	-	Amalgamated	NO
3	L28900MH1982PLC028535	KABRA EXTRUSION TECHNIK LTD	Managing director	01/07/2013	21/10/1982	-	Active	NO
4	L25200MH1991PLC059943	PLASTIBLENDS INDIA LIMITED	Managing director	01/07/2013	22/01/1991	-	Active	NO
5	U55101DN1992PLC000043	WONDERWORLD RESORTS LTD (U.T.COMPANY)	Director	06/06/1996	06/06/1996	25/01/2013	Active	NO
6	U72100MH2000PLC125809	SMARTECH GLOBAL SOLUTIONS LIMITED	Director	12/04/2000	12/04/2000	-	Active	NO
7	U29268MH2009PLC190380	KABRA GLOUCESTER ENGINEERING LIMITED	Director	16/02/2009	16/02/2009	-	Active	NO
8	U99999PN1985PTC035557	GANGES URETHANE PRIVATE LIMITED	Additional director	28/12/2010	28/12/2010	-	Converted to LLP and dissolved	NO
9	U25203MH2011PTC222500	KOLSITE PACKAGING SYSTEMS Private Limited	Director	28/09/2011	28/09/2011	-	Active	NO
10	AAA-7541	KOLSITE CORPORATION LLP	Designated Partner	06/01/2012	06/01/2012	-	Active	NO

Name :

Mr. Anand Shreevallabh Kabra

Designation :

Technical Director

Address :

46, Vithal Nagar Co-Op Hsg, Soc. Limited, Gopikunj 11^th Road JVPD Scheme Vile Parle (W), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

16.09.1974

Date of Appointment :

01.08.2013

DIN No. :

00016010

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	U55101DN1992PLC000043	WONDERWORLD RESORTS LTD (U.T.COMPANY)	Director	06/06/1996	06/06/1996	25/01/2013	Active	NO
2	U72100MH2000PLC125809	SMARTECH GLOBAL SOLUTIONS LIMITED	Director	12/04/2000	12/04/2000	-	Active	NO
3	L25200MH1991PLC059943	PLASTIBLENDS INDIA LIMITED	Whole-time director	01/08/2011	19/06/2003	-	Active	NO
4	L28900MH1982PLC028535	KABRA EXTRUSION TECHNIK LTD	Whole-time director	01/08/2013	19/06/2003	-	Active	NO
5	U28910MH1980PTC022877	KOLSITE MASCHINE FABRIK PRIVATE LIMITED	Director	26/04/2005	26/04/2005	-	Amalgamated	NO
6	U29268MH2009PLC190380	KABRA GLOUCESTER ENGINEERING LIMITED	Director	16/02/2009	16/02/2009	-	Active	NO
7	U99999PN1985PTC035557	GANGES URETHANE PRIVATE LIMITED	Additional director	28/12/2010	28/12/2010	-	Converted to LLP and dissolved	NO
8	U25203MH2011PTC222500	KOLSITE PACKAGING SYSTEMS Private Limited	Director	28/09/2011	28/09/2011	-	Active	NO
9	AAA-7541	KOLSITE CORPORATION LLP	Designated Partner	06/01/2012	06/01/2012	-	Active	NO

Name :

Mr. Haridas Sagatmal Sanwal

Designation :

Independent Director

Address :

C – 48 North Bombay Co-op. Hsg. Soc. Limited, Juhu Tara Road, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

01.05.1935

Date of Appointment :

09.09.2014

DIN No. :

00017852

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	U74140MH1974PTC017864	ALL PURPOSE CONSULTATIONS AND SERVICES PRIVATE LIMITED	Director	24/10/1974	24/10/1974	-	Active	NO
2	U17100MH1977PTC019493	HAREKRISHNA HARERAMA TRADING COMPANY PRIVATE LIMITED	Director	15/02/1977	15/02/1977	-	Active	NO
3	U67120TN1978PTC084217	WELWORTH INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	29/12/1978	29/12/1978	16/01/2014	Active	NO
4	U51900MH1979PTC021167	ELEGANT TRADING AND INVESTMENTS COMPANY PRIVATE LIMITED	Director	04/04/1979	04/04/1979	-	Active	NO
5	U74140MH1979PTC021543	IDEAL CONSULTANCY SERVICES PRIVATE LIMITED	Director	09/08/1979	09/08/1979	-	Active	NO
6	L28900MH1982PLC028535	KABRA EXTRUSION TECHNIK LTD	Director	09/09/2014	02/04/1985	-	Active	NO
7	L25200MH1991PLC059943	PLASTIBLENDS INDIA LIMITED	Director	09/09/2014	23/10/1991	-	Active	NO
8	U72900MH2001PTC134212	SEEDIFF SOFTSOLUTIONS (INDIA) PRIVATE LIMITED	Director	12/12/2001	12/12/2001	-	Active	NO

Name :

Mr. Mahavir Prasad Taparia

Designation :

Independent Director

Address :

Girikunj 71, Marine drive, Churchgarte, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

21.11.1937

Date of Appointment :

09.09.2014

DIN No. :

00112461

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	L35920MH1942PLC003554	THE SUPREME INDUSTRIES LIMITED	Managing director	07/01/2014	02/08/1966	-	Active	NO
2	U92140MH1979PLC021532	MULTILAYER FILMS LIMITED	Director	07/08/1979	07/08/1979	-	Amalgamated	NO
3	U67120MH1981PTC024060	JAGATGURU INVESTMENT AND TRADING CO PVT LTD	Director	18/03/1981	18/03/1981	-	Amalgamated	NO
4	L28900MH1982PLC028535	KABRA EXTRUSION TECHNIK LTD	Director	09/09/2014	31/03/1989	-	Active	NO
5	L23200MH1989PLC054633	SUPREME PETROCHEM LIMITED	Director	14/12/1989	14/12/1989	-	Active	NO
6	U65990MH1994PLC081785	SUPREME CAPITAL MANAGEMENT LIMITED	Director	06/10/1994	06/10/1994	-	Active	NO
7	U24132MH1999NPL119821	POLYSTYRENE PRODUCERS' ASSOCIATION (INDIA)	Director	11/05/1999	11/05/1999	-	Active	NO
8	U93090MH2007PLC166777	SPL INDUSTRIAL PARK LIMITED	Director	06/01/2007	06/01/2007	-	Strike off	NO
9	L21010GJ1991PLC019432	SHREE RAMA NEWSPRINT LIMITED	Director	27/09/2007	03/05/2007	30/09/2010	Active	NO
10	U93000MH2007PLC173259	SPL INDUSTRIAL SUPPORT SERVICES LIMITED	Director	20/08/2007	20/08/2007	-	Strike off	NO
11	U65990MH2010PTC202490	JOVIAL INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Managing director	28/04/2010	28/04/2010	-	Active	NO
12	L02101KA1955PLC001936	THE WEST COAST PAPER MILLS LIMITED	Director	30/07/2011	11/11/2010	-	Active	NO
13	U65923MH2010PTC202488	BOON INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	15/03/2014	15/03/2014	-	Active	NO

Name :

Mr. Yagnesh Kumar Bhagwati Prasad Desai

Designation :

Independent Director

Address :

Flat No. 321/322, Raheja Crest – 3, off New Link Road, Lokhandwala, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

14.04.1941

Date of Appointment :

09.09.2014

DIN No. :

00021202

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	U65991MH2001PTC131170	DEUTSCHE TRUSTEE SERVICES (INDIA) PRIVATE LIMITED	Director	25/03/2002	25/03/2002	-	Active	NO
2	L65922MH1989PLC052257	LIC HOUSING FINANCE LTD	Director	24/05/2002	24/05/2002	20/07/2011	Active	NO
3	L28900MH1982PLC028535	KABRA EXTRUSION TECHNIK LTD	Director	09/09/2014	19/10/2002	-	Active	NO
4	L24230GJ1983PLC006329	DISHMAN PHARMACEUTICALS AND CHEMICALS LIMITED	Director	26/11/2003	26/11/2003	-	Active	NO

Name :

Mr. Nihalchand Chunilal Chauhan

Designation :

Director

Address :

Shree Patil Arcade 20^th Floor Flat No. 4, August Kranti Marg E, Nana Chowk, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

20.11.1935

Date of Appointment :

09.09.2014

DIN No. :

00021782

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	U74120MH1994PTC083907	ENCEE SECURITIES PRIVATE LIMITED	Director	10/01/1995	10/01/1995	08/06/2010	Active	NO
2	U67190MH2001PLC130813	IBS FOREX LIMITED	Director	17/05/2005	17/05/2005	27/08/2013	Active	NO
3	L28900MH1982PLC028535	KABRA EXTRUSION TECHNIK LTD	Director	09/09/2014	21/01/2006	-	Active	NO
4	L23200MH1989PLC054633	SUPREME PETROCHEM LIMITED	Director	27/04/2006	27/04/2006	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Jayant Sarpodar
Designation :	Chief Executive Officer

Name :	Yogesh Dhirajlal Sanghavi
Designation :	Company Secretary
Address :	34 Nagardas Park Old Nagardas Road, Andheri East, Mumbai – 400069, Maharashtra, India
Date of Appointment :	16.10.1996
PAN No. :	AABPS3804M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
		As a % of (A+B)
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	10846034	34.00
Bodies Corporate	7089660	22.22
Sub Total	17935694	56.22
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	17935694	56.22
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	4400	0.01
Financial Institutions / Banks	2400	0.01
Sub Total	6800	0.02
(2) Non-Institutions
Bodies Corporate	848180	2.66
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	5121915	16.05
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	3084318	9.67
Any Others (Specify)	4905413	15.38
Non Resident Indians	439093	1.38
Foreign Corporate Bodies	4466320	14.00
Sub Total	13959826	43.76
Total Public shareholding (B)	13966626	43.78
Total (A)+(B)	31902320	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	31902320	0.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Extrusion machinery

Products :	Not Divulged

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :
Products :	Extrusion Machinery
Countries :	South America African Countries Gulf Bangladesh Shri Lanka

Imports :
Products :	Raw Material
Countries :	European Countries Asian Countries

Terms :
Selling :	Cash and Advance Payment

Purchasing :	Cash and Advance Payment

PRODUCTION STATUS: Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

452 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	IFB, World trade center Kolasa
Person Name (With Designation)	Mr. Ajay Mahtole (Relationship Manager)
Contact Number	91-22-22160915 91-9004577344
Name of Account Holder	Kabra Extrusion Technik Private Limited
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	10 Year More than
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	CC/BG/BD/LC – Rs.130 Millions
Account Operation	60 to 70 Ulilisation
Remarks (If any)	Having Satisfactory trade Record in banking transactions having good future

Banker Name	Kotak Mahindra Bank
Branch Address	Lokhandwala Andheri (W)
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	BD/BG/CC/LC Rs. 100.000 Millions
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
Loans repayable on demand
Cash Credit From Banks	169.580	94.275
Bills Discounted	1.146	58.839
Total	170.726	153.114


Auditors :
Name :	Kirtane and Pandit Chartered Accountants

Memberships :	Not Divulged

Collaborators :	Not Divulged

Associate Companies or Promoter Companies	Plastiblends India Limited

Enterprise over which key management personnel exercise significant influence	Kolsite Industries Maharashtra Plastics and Industries Kolsite Corporation LLP Smartech Global Solutions Limited Rambalab Ramnaran Kabra Gloucester Engineering Limited Kolsite Packaging Systems Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

40000000	Equity Shares	Rs.5/- each	Rs.200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

31902320	Equity Shares	Rs.5/- each	Rs.159.512 Millions

Of the above shares 23180160 Shares of Rs. 5/- each were allotted as fully paid up bonus shares without payment being received in cash.

Reconciliation of number of equity shares outstanding at the beginning and at the end of the year

Particular

As at

31 March 2014

Number of shares outstanding as at the beginning of the year

31.902

Number of shares outstanding as at the end of the year

31.902

The company has only one class of share having par value of Rs. 5/-.

Each holder of equity share is entitled to one vote per share.

Shares in the company held by each shareholder holding more than 5% shares


Name of the share holder	Number of Shares held in The company	% of shares held
Anand Kabra	2557018	8.02
Satyanarayan G Kabra	2073528	6.50
Saritadevi S Kabra	1670988	5.24
Varun S Kabra	1670988	5.24
Battenfeld Extrusiontechnik Gmbh	3600000	11.28
Kolsite Corporation LLP	6262288	19.63

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	159.512	159.512	159.512
(b) Reserves & Surplus	1128.679	1042.536	971.242
(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)	1288.191	1202.048	1130.754

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	52.973	56.444	55.006
(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)	52.973	56.444	55.006

(4) Current Liabilities
(a) Short term borrowings	173.301	155.464	108.744
(b) Trade payables	208.219	228.613	174.922
(c) Other current liabilities	335.652	224.096	226.887
(d) Short-term provisions	180.888	129.516	134.618
Total Current Liabilities (4)	898.060	737.689	645.171

TOTAL	2239.224	1996.181	1830.931

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	396.926	418.920	425.207
(ii) Intangible Assets	51.945	78.125	99.765
(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	368.190	274.170	140.027
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	134.131	134.208	222.634
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	951.192	905.423	887.633

(2) Current assets
(a) Current investments	209.780	250.000	109.317
(b) Inventories	580.606	544.075	540.908
(c) Trade receivables	254.688	155.654	196.538
(d) Cash and cash equivalents	10.521	12.752	16.152
(e) Short-term loans and advances	232.437	128.277	80.383
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1288.032	1090.758	943.298

TOTAL	2239.224	1996.181	1830.931

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2231.629	1799.416	1908.298
	Other Income	21.242	50.516	41.672
	TOTAL (A)	2252.871	1849.932	1949.970

Less	EXPENSES
	Cost of Materials Consumed	1458.773	1184.681	1217.190
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(22.014)	(6.850)	55.050
	Employees benefits expense	200.067	176.736	201.991
	Other expenses	363.575	280.801	293.267
	TOTAL (B)	2000.401	1635.368	1767.498

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	252.470	214.564	182.472

Less	FINANCIAL EXPENSES (D)	18.430	27.781	10.049

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	234.040	186.783	172.423

Less/ Add	DEPRECIATION/ AMORTISATION (F)	59.286	58.394	46.531

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	174.754	128.389	125.892

Less	TAX (H)	32.625	19.771	25.821

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	142.129	108.618	100.071

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (J)	521.043	460.649	407.665

Less	APPROPRIATIONS
	Transfer to General Reserve	14.300	10.900	10.010
	Proposed Dividend	47.853	31.902	31.902
	Tax on Dividend	8.133	5.422	5.175
	Total (K)	70.286	48.224	47.087

	Balance Carried to the B/S (I+J-K)	592.886	521.043	460.649

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	750.770	631.812	601.901
	Interest	0.000	8.826	6.885
	TOTAL EARNINGS	750.770	640.638	608.786

	IMPORTS
	Purchase of stores, spares and Raw Materials	261.300	161.567	216.209
	TOTAL IMPORTS	261.300	161.567	216.209

	Earnings / (Loss) Per Share (Rs.)	4.46	3.40	3.14

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PARTICULARS
Net Profit Margin (PAT/ Sales)	(%)	6.37	6.04	5.24

Operating Profit Margin (PBDIT/Sales)	(%)	11.31	11.92	9.56

Return on Total Assets (PBT/Total Assets}	(%)	9.34	7.46	7.45

Return on Investment (ROI) (PBT/Networth)		0.14	0.11	0.11

Debt Equity Ratio (Total Debt /Networth)		0.13	0.13	0.10

Current Ratio (Current Asset/Current Liability)		1.43	1.48	1.46

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	159.512	159.512	159.512
Reserves & Surplus	971.242	1042.536	1128.679
Net worth	1130.754	1202.048	1288.191

long-term borrowings	0.000	0.000	0.000
Short term borrowings	108.744	155.464	173.301
Total borrowings	108.744	155.464	173.301
Debt/Equity ratio	0.096	0.129	0.135

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1908.298	1799.416	2231.629
		(5.706)	24.020

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1908.298	1799.416	2231.629
Profit	100.071	108.618	142.129
	5.24%	6.04%	6.37%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	Yes
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

LITIGATION DETAILS

	Bench:-Bombay

Lodging No.:-

ARBPL/1305/2012

Filing Date:-

03/10/2012

Reg. No.:-

ARBP/1212/2012

Reg. Date:-

05/11/2012

Petitioner:-

NATIONAL INSURANCE COMPANY LIMITED

Respondent:-

KABRA EXTRUSIONTECHNIK LIMITED

Petn.Adv.:-

ASIM S. VIDYARTHI

Resp.Adv.:-

Ms. Purnima G. Bhatia

District:-

OUTSIDE MAHARASHTRA

	Bench:-	SINGLE
	Status:-	Admitted(Unready)	Category:-	ARBITRATION ACT.

Next Date:-

15/12/2014

Stage:-

FOR DIRECTION [ORIGINAL SIDE MATTERS]

Coram:-

HON'BLE SHRI JUSTICE S.C. GUPTE

Last Date:-

25/11/2014

Stage:-

FOR DIRECTION [ORIGINAL SIDE MATTERS]

Last Coram:-

HON'BLE SHRI JUSTICE S.C. GUPTE

Act :-

Arbitration and Conciliation Act 1996

Under Section:-

OPERATIONS AND OUTLOOK:

The Company has achieved Operational and Other Income for the year at Rs. 2252.871 Millions as against the previous years’ Operational and Other income of Rs. 1849.931 Millions. The profit before tax amounts to Rs. 174.753 Millions against the previous years’ profit of Rs. 128.388 Millions. Net Profit of the Company after tax, deferred tax and MAT Credit amounts to Rs. 142.129 Millions as against Rs. 108.618 Millions of the previous year.

MANAGEMENT DISCUSSION AND ANALYSIS

BUSINESS OVERVIEW AND OUTLOOK:

The Company has technical collaboration with Battenfeld Cincinnati GmbH and has access to its technology for manufacturing Pipe Extrusion Lines. The Company also has access to technology of Gloucester Engineering Company Inc. USA (GEC) to manufacture high-end Blown Film Plants which find application in packaging for lamination, shrink and stretch wraps.

The Company also offers cPVC pipe extrusion lines in single as well as dual strand with Battenfeld Cincinnati technology. The Company manufactures round and flat drip lines having application in the irrigation field. The extrusion machines supplied by KET facilitate space savings, lower energy consumption and high quality output for its customers.

The Company continued its focus on marketing activities and strengthening its agent network by participating in various trade fairs and exhibitions. It has made significant in roads in many new markets.

During the financial year 2013-14, the Company participated in various exhibitions viz. PlastVision in India, K-2013 in Germany, China Plast in China and FEI Plastics -2013 in Brazil to showcase its product portfolios to strengthen its geographical base as well as clientele.

FINANCIAL AND OPERATIONAL PERFORMANCE:

The Company has a low debt equity ratio and is well placed to take care of its borrowings made by way of credit facilities. The Company’s credit terms and recovery mechanism are effective enough to check the financial defaults by any of the customers. No financial defaults of whatsoever nature were reported during the year.

VIEW INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10445921	13/03/2014 *	100,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227 D NARIMAN POINT, Mumbai, Maharashtra - 400021, INDIA	C04651683
2	90222571	13/03/2014 *	344,700,000.00	State Bank of India	INDUSTRIAL FINANCE BRANCH, THE ARCADE, 2ND FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA	C04672754

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
SHORT TERM BORROWINGS
Loans and advances from related parties
Inter Corporate Deposits	2.575	2.350
Total	2.575	2.350

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
Bank Guarantee and Counter guarantees / Letter of Credit given by the Company for the guarantees issued by Company’s bankers	33.798	64.053
Fixed deposits shown under the head cash and bank balances include deposits pledged with the banks as margins to secure letters of credit and guarantees issued by banks	4.653	4.653
Net amount	29.145	59.400
Service Tax matter under dispute	12.447	12.447

FIXED ASSETS

Land
Building
Plant and Equipment
Furniture and Fixture
Vehicles
Office Equipments
Computer

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. 61.97
UK Pound	1	Rs.97.36
Euro	1	Rs.77.16

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	SUB

Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	7
--CREDIT LINES	1~10	8
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		68

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.

MIRA INFORM REPORT

Unit