MIRA INFORM REPORT

Report Date :

04.12.2014

IDENTIFICATION DETAILS

Name :	MAGNETI MARELLI SKH EXHAUST SYSTEMS PRIVATE LIMITED
Registered Office :	B-5/13, Azad Apartment, Sri Aurobindo Marg, New Delhi-110017
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	22.05.2008
Com. Reg. No.:	55-178458
Capital Investment / Paid-up Capital :	Rs. 274.190 Millions
CIN No.: [Company Identification No.]	U51109DL2008PTC178458
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAFCM5723L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing, Designing, Assembling of Exhaust Systems for all types of motor cars, motor cycles and automobiles.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 280000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate risk record. The rating is constrained on account of company’s moderate financial risk profile marked by below average operational performance and huge accumulated losses incurred by the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

N E W S

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	ICRA
Rating	Long Term Loans BB -
Rating Explanation	Inadequate Credit Quality and High Credit Risk
Date	September 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. Manoj
Designation :	Chief Executive Officer
Contact No.:	91-9910539176
Date :	02.12.2014

LOCATIONS

Registered Office :	B-5/13, Azad Apartment, Sri Aurobindo Marg, New Delhi-110017, India
Tel. No.:	91-124-4725017
Mobile No.:	91-9910539176 (Mr. Manaj) 91-8308121700 (Mr. Sadanand)
Fax No.:	91-124-4725001
E-Mail :	upasanakhati@krishnagroup.co.in
Factory :	Gat No 542/545, Behind Bombay Deeing Dhoskangvi, Ranjangaon, Taluka, Shirur, Pune – 412220, Maharashtra, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Ashok Kapur

Designation :

Director

Address :

B-5, Chirag Enclave, New Delhi-110048, India

Date of Birth/Age :

24.06.1946

Date of Appointment :

30.09.2009

DIN No.:

00003577

Others 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	U74899DL1985PTC020921	SKH INFRASTRUCTURE DEVELOPERS PRIVATE LIMITED	Director	15-05-85	15-05-85	-	Active	NO
2	U34300HR1991PLC032012	KRISHNA MARUTI LIMITED.	Managing director	01-06-14	25-06-91	-	Active	NO
3	U35999DL1996PLC075180	KRISHNA ISHIZAKI AUTO LIMITED	Director	04-01-96	04-01-96	-	Active	NO
4	U74999DL1996PLC082505	HH Interior & Auto Components Limited	Director	09-10-96	09-10-96	31-03-08	Active	NO
5	U70101DL1997PTC089087	SWAPN FARMS PRIVATE LIMITED	Director	02-08-01	02-08-01	-	Active	NO
6	U17101DL1998PLC091847	KRISHNA PACKAGE TRIPS LIMITED	Director	03-08-01	03-08-01	-	Active	NO
7	U74899DL1994PTC058553	TULIP FARMS PRIVATE LIMITED	Director	04-12-01	04-12-01	-	Active	NO
8	U74899DL1994PTC058571	GLADDOLIA FARMS PRIVATE LIMITED	Director	04-12-01	04-12-01	-	Active	NO
9	U70101DL1988PTC033696	VENUS ESTATES PRIVATE LIMITED	Director	03-08-02	03-08-02	-	Active	NO
10	U34300DL1998PTC091789	KRISHNA INTERIOR PRIVATE LIMITED	Director	02-09-02	02-09-02	-	Active	NO
11	U74999DL2003PTC120153	KRISHNA QUINETTE SEATS PRIVATE LIMITED	Director	02-05-03	02-05-03	-	Active	NO
12	U22219DL1962PLC003768	THOMSON PRESS INDIA LTD	Director	24-05-04	24-05-04	-	Active	NO
13	U00000HR2004PTC049273	KRISHNA GRUPO ANTOLIN PRIVATE LIMITED	Director	19-08-04	19-08-04	-	Active	NO
14	U74140HR2004PTC035504	PRUDENT MANAGEMENT STRATEGIES PRIVATE LIMITED	Director	02-05-05	02-05-05	-	Active	NO
15	U74130HR1986PLC023655	SKH METALS LIMITED	Director	14-05-05	14-05-05	-	Active	NO
16	U27109HR2003PTC035250	Maruichi Kuma Steel Tube Private Limited	Director	28-05-05	28-05-05	29-09-09	Active	NO
17	U45201DL2005PTC136914	SKH CONSTRUCTWELL PRIVATE LIMITED	Director	31-05-05	31-05-05	-	Active	NO
18	U74899DL2005PTC140258	SKH GLOBAL TRAVELS PRIVATE LIMITED	Director	01-09-05	01-09-05	28-12-12	Active	NO
19	U45201RJ2005PTC020740	RIPPLE INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-06	31-10-05	-	Active	NO
20	U45201RJ2005PTC020796	WAVE INFRASTRUCTURE PRIVATE LIMITED	Director	14-11-05	14-11-05	-	Active	NO
21	U74899DL1978PTC008998	USHA PLAST PACKAGING PRIVATE LIMITED	Director	23-12-05	23-12-05	-	Active	NO
22	U74300DL2004PTC128184	SKH MEDIA PRIVATE LIMITED	Director	06-02-06	06-02-06	02-07-11	Active	NO
23	U80101DL2006PTC148682	SKH EDUCATION PRIVATE LIMITED.	Director	06-05-06	06-05-06	-	Active	NO
24	U63040DL1997PTC089719	KV TRAVELS PRIVATE LIMITED	Director	23-06-06	23-06-06	28-12-12	Active	NO
25	U45201RJ2005PTC020737	SURGE INFRASTRUCTURE PRIVATE LIMITED	Director	29-09-09	22-03-07	-	Active	NO
26	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	06-09-07	06-09-07	03-09-09	Active	NO
27	U50300RJ2005PTC020834	DURABLE TRAIN SEATS PRIVATE LIMITED	Director	02-09-08	20-03-08	-	Active	NO
28	U45201RJ2005PTC020735	ANGEL INFRASTRUCTURE PRIVATE LIMITED	Director	01-09-08	20-03-08	05-03-09	Active	NO
29	U50300RJ2005PTC020833	SKH SHEET METALS COMPONENTS Private Limited	Director	05-09-08	10-04-08	22-09-09	Active	NO
30	U51109DL2008PTC178458	MAGNETI MARELLI SKH EXHAUST SYSTEMS PRIVATE LIMITED	Director	30-09-09	05-06-08	-	Active	NO
31	U34300DL2008PTC178680	SKH MAGNETI MARELLI EXHAUST SYSTEMS PRIVATE LIMITED	Director	30-09-09	05-06-08	-	Active	NO
32	U74900DL2008PLC185185	SKH MANAGEMENT SERVICES LIMITED	Director	24-11-08	24-11-08	-	Active	NO
33	U29220DL2009PTC187276	SKH SILA INDIA PRIVATE LIMITED	Director	05-02-09	05-02-09	-	Active	NO
34	U29253DL2009PTC187778	SKH CABS MANUFACTURING PRIVATE LIMITED	Director	19-02-09	19-02-09	-	Active	NO
35	U70200DL2009PTC189407	PASA Infrastructure Private Limited	Director	16-04-09	16-04-09	-	Active	NO
36	U74900DL2009PTC189418	SKH CAR SEATS PRIVATE LIMITED	Director	16-04-09	16-04-09	-	Active	NO
37	U50300RJ2005PTC020818	NARCISSUS AUTO SHEET METALS PRIVATE LIMITED	Director	19-08-09	01-08-09	-	Active	NO
38	U74900DL2009PTC193097	Spectrum Seating Systems Services Private Limited	Director	12-08-09	12-08-09	-	Active	NO
39	U70101DL2009PTC193636	GRANITE INFRASTRUCTURE PRIVATE LIMITED	Director	29-09-10	01-10-09	-	Active	NO
40	U29300PN2009PTC133761	MSKH Seating Systems India Private Limited	Director	28-09-10	22-10-09	-	Active	NO
41	L92200DL1999PLC103001	T.V. TODAY NETWORK LIMITED.	Director	20-08-14	26-10-09	-	Active	NO
42	U70101DL2010PTC198474	HARTIK Estate Private Limited	Director	29-01-10	29-01-10	-	Active	NO
43	U70200DL2010PTC198473	KHARTI Infrastructure Private Limited	Director	29-01-10	29-01-10	-	Active	NO
44	U29253DL2009PTC196097	SIAC SKH India Cabs Manufacturing Private Limited	Director	21-09-10	04-03-10	-	Active	NO
45	U17290DL2010FTC202355	Suminoe Teijin Techno Krishna India Private Limited	Director	06-05-10	06-05-10	-	Active	NO
46	U34300DL2010PTC208458	SKH Auto Trims Private Limited	Director	30-09-11	28-09-10	-	Active	NO
47	U74899DL1970PTC005432	KAPUR ESTATES PVT LTD	Director	30-09-11	10-11-10	-	Active	NO
48	U70200DL2011PTC213833	H & H Real Estate and Infrastructure Private Limited	Director	11-02-11	11-02-11	-	Active	NO
49	U45400DL2010PTC199741	BALAJEE GREENLAND PRIVATE LIMITED	Director	24-06-11	01-03-11	14-08-12	Active	NO
50	U45204DL2011PTC222384	SKH BUILDERS PRIVATE LIMITED	Director	15-07-11	15-07-11	14-08-12	Active	NO
51	U45400DL2011PTC222366	H & H PROMOTERS PRIVATE LIMITED	Director	15-07-11	15-07-11	14-08-12	Active	NO
52	U74899DL1992PTC048177	MUNRADTECH EXPORTS PRIVATE LIMITED	Director	28-09-13	15-11-12	-	Active	NO
53	U45201RJ2005PTC020734	WARBLE INFRASTRUCTURE PRIVATE LIMITED	Director	23-09-13	29-11-12	08-11-13	Active	NO
54	U34300HR2012FTC046555	NHK F. KRISHNA INDIA AUTOMOTIVE SEATING PRIVATE LIMITED	Director	04-09-13	31-03-13	-	Active	NO
55	U50200HR2012PTC047527	Krishna Landi Renzo India Private Limited	Director	03-07-13	03-07-13	-	Active	NO
56	U35999HR2014PTC051872	KRISHNA KAUTEX PRIVATE LIMITED	Additional director	30-07-14	30-07-14	-	Active	NO
57	AAC-5467	SAVOZONE ENTERPRISES LLP	Designated Partner	05-08-14	05-08-14	-	Active	NO
58	AAC-6930	GADGET INFRAVISION LLP	Designated Partner	10-09-14	10-09-14	-	Active	NO

Name :

Mr. Sunandan Kapur

Designation :

Director

Address :

B-5, Chirag Enclave, New Delhi-110048, India

Date of Birth/Age :

07.04.1956

Date of Appointment :

22.05.2008

DIN No.:

00003638

Others 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	U35999DL1996PLC075180	KRISHNA ISHIZAKI AUTO LIMITED	Director	12-06-99	12-06-99	22-02-12	Active	NO
2	U74999DL1996PLC082505	HH Interior & Auto Components Limited	Director	15-06-99	15-06-99	31-03-08	Active	NO
3	U34300HR1991PLC032012	KRISHNA MARUTI LIMITED.	Managing director	21-04-14	01-04-00	-	Active	NO
4	U34300DL1999PTC101962	HIMANSHU ENTERPRISES PRIVATE LIMITED	Director	26-09-01	26-09-01	-	Active	NO
5	U74999DL2003PTC120153	KRISHNA QUINETTE SEATS PRIVATE LIMITED	Director	30-06-08	02-05-03	-	Active	NO
6	U00000HR2004PTC049273	KRISHNA GRUPO ANTOLIN PRIVATE LIMITED	Director	19-08-04	19-08-04	-	Active	NO
7	U34392HR1999PTC034392	NAGATA INDIA PRIVATE LIMITED	Director	21-08-04	21-08-04	-	Active	NO
8	U74130HR1986PLC023655	SKH METALS LIMITED	Managing director	14-05-13	14-05-05	-	Active	NO
9	U27109HR2003PTC035250	Maruichi Kuma Steel Tube Private Limited	Director	28-05-05	28-05-05	29-09-09	Active	NO
10	U80101DL2006PTC148682	SKH EDUCATION PRIVATE LIMITED.	Director	07-06-06	07-06-06	-	Active	NO
11	U63040DL1997PTC089719	KV TRAVELS PRIVATE LIMITED	Director	23-06-06	23-06-06	28-12-12	Active	NO
12	U74899DL2005PTC140258	SKH GLOBAL TRAVELS PRIVATE LIMITED	Director	23-06-06	23-06-06	28-12-12	Active	NO
13	U63040DL2004PTC128182	CHORUS TOURS AND TRAVELS PRIVATE LIMITED	Director	27-09-07	31-01-07	-	Active	NO
14	U50300RJ2005PTC020833	SKH SHEET METALS COMPONENTS Private Limited	Director	25-09-12	16-02-08	-	Active	NO
15	U50300RJ2005PTC020830	Axis Seats Services Private Limited	Director	01-09-08	16-02-08	-	Active	NO
16	U50300RJ2005PTC020820	SPECTRUM AUTO TRIMS PRIVATE LIMITED	Additional director	17-03-08	17-03-08	01-08-08	Active	YES
17	U51109DL2008PTC178458	MAGNETI MARELLI SKH EXHAUST SYSTEMS PRIVATE LIMITED	Director	22-05-08	22-05-08	-	Active	NO
18	U34300DL2008PTC178680	SKH MAGNETI MARELLI EXHAUST SYSTEMS PRIVATE LIMITED	Director	27-05-08	27-05-08	-	Active	NO
19	U74900DL2008PLC185185	SKH MANAGEMENT SERVICES LIMITED	Director	24-11-08	24-11-08	-	Active	NO
20	U29220DL2009PTC187276	SKH SILA INDIA PRIVATE LIMITED	Director	05-02-09	05-02-09	-	Active	NO
21	U29253DL2009PTC187778	SKH CABS MANUFACTURING PRIVATE LIMITED	Director	19-02-09	19-02-09	-	Active	NO
22	U29300PN2009PTC133761	MSKH Seating Systems India Private Limited	Director	28-09-10	22-10-09	-	Active	NO
23	U29253DL2009PTC196097	SIAC SKH India Cabs Manufacturing Private Limited	Director	21-09-10	04-03-10	-	Active	NO
24	U17290DL2010FTC202355	Suminoe Teijin Techno Krishna India Private Limited	Director	06-05-10	06-05-10	-	Active	NO
25	U74899DL1970PTC005432	KAPUR ESTATES PVT LTD	Director	30-09-11	10-11-10	-	Active	NO
26	U74899DL1992PTC048177	MUNRADTECH EXPORTS PRIVATE LIMITED	Director	28-09-13	15-07-13	-	Active	NO
27	U35999HR2014PTC051872	KRISHNA KAUTEX PRIVATE LIMITED	Director	13-02-14	13-02-14	-	Active	NO

Name :

Mr. Saju Mookken

Designation :

Director

Address :

6411, F-6, Alok Vihar 2, Sector-50, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

20.05.1969

Date of Appointment :

22.05.2008

DIN No.:

01644940

Others 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	U40300HR2007PTC046166	Magneti Marelli Powertrain India Private Limited	Director		17-04-09	18-10-07	-	Active	NO
2	U31500DL2008PLC174123	MAGNETI MARELLI MOTHERSON AUTO SYSTEM LIMITED	Director		14-08-09	16-04-08	-	Active	NO
3	U51109DL2008PTC178458	MAGNETI MARELLI SKH EXHAUST SYSTEMS PRIVATE LIMITED	Director		22-05-08	22-05-08	-	Active	NO
4	U34300DL2008PTC178680	SKH MAGNETI MARELLI EXHAUST SYSTEMS PRIVATE LIMITED	Director		27-05-08	27-05-08	-	Active	NO
5	U74900PN2008PTC132425	Magneti Marelli Motherson Shock Absorbers India Private Limited	Director		14-07-08	14-07-08	-	Active	NO
6	U32204HR2008PTC046212	MAGNETI MARELLI UM ELECTRONIC SYSTEMS PRIVATE LIMITED	Nominee director		16-01-09	16-01-09	-	Active	NO
7	U74120DL2008PTC186054	FIAT PARTECIPAZIONI INDIA PRIVATE LIMITED	Director		08-03-10	01-04-09	-	Active	NO
8	U34102HR2009FTC046068	Magneti Marelli India Private Limited	Managing director		26-11-09	10-11-09	-	Active	NO
9	U34300HR2012PTC044985	MAGNETI MARELLI TALBROS CHASSIS SYSTEMS PRIVATE LIMITED	Director		03-02-12	03-02-12	-	Active	NO
10	U35923DL2013PLC260142	HMC MM AUTO LIMITED	Director		20-06-14	09-12-13	-	Active	NO

Name :

Mr. Javier Simon Murga

Designation :

Director

Address :

Adva, Can Picanyol 30, 1, 1, Sant Cugat del Valles, 08251

Date of Birth/Age :

27.12.1952

Date of Appointment :

30.09.2009

DIN No.:

02088686

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	U34300DL2008PTC178680	SKH MAGNETI MARELLI EXHAUST SYSTEMS PRIVATE LIMITED	Director	30-09-09	05-06-08	-	Active	NO
2	U51109DL2008PTC178458	MAGNETI MARELLI SKH EXHAUST SYSTEMS PRIVATE LIMITED	Director	30-09-09	05-06-08	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Magneti Marelli S.P.A., Italy	13709500
SKH Sheet Metals Components Limited, India	13709500
Total	27419000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, Designing, Assembling of exhaust systems for all types of motor cars, motor cycles and automobiles.
Products :
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	v Italy v China
Terms :
Selling :	Cash and Credit (30 Days)
Purchasing :	Cash and Credit (30 Days)

GENERAL INFORMATION

Suppliers :

Reference :	Junction matthey (delhi)
Name of the Person :	Mr. yatin batra (sales manager)
Contact No.:	91-9910411887
Since How Long Known :	5 Years
Experience :	Excellent
Maximum Limit Dealt :	4000.000 Million Yearly
Remark :	They gave us an positive response about subject company as claimed by Mr. Yatin Batra they are satisfied with their payment behavior.

Customers :

Wholesalers, Retailers, End Users

Reference :	Renaalt Nissan automotive india private Limited
Name of the Person :	Mr. shravan kumar
Contact No.:	91-9841482313
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

150 (Approximately)

Bankers :

Banker Name	Corporation bank
Branch Address	Industrial finance branch
Person Name (With Designation)	Mr. Ramakant (Sales Manager)
Contact Number	91-11-23753963
Name of Account Holder	Magnesh Mareli SKH Exhaust Systems Private Limited
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	2009
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash Credit Rs. 40.000 Millions LCBG Rs. 10.000 Millions
Account Operation	Good
Remarks (If any)	Banker gave us positive response about the subject company as claimed by Mr. Ramakant they are satisfied with their banking transaction.

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Rupee Term Loans From Banks	0.000	8.403
Short Term Borrowing
Loans Repayable On Demand	35.639	40.129
Total	35.639	48.532

Auditors :
Name :	Kalyanwalla and Mistry Chartered Accountant
Address :	3^rd Floor, Pro- 1, Business Centre, Senapati Bapat Road, Mumbai – 411016, Maharashtra, India
PAN No.:	AAAFK7554R
Parties which are or in which the company is Joint Venture :	· Magneti Marelli S.p.A., Italy · SKH Sheet Metal Components Private Limited
Enterprises over which key management personnel are able to exercise significant influence :	· SKH Metals Limited · SKH Global Travels Private Limited · SKH Magneti Marelli Exhaust Systems Private Limited · Velvet Infrastructure Private Limited · Magneti Marelli Sistemas AutomotivosInd. Com. Ltda, Brazil · Magneti Marelli Exhaust System, Polaska · Magna SKH · Matay Olomotiv Yan Sanjayal
Associates:	· Magneti Marelli Espana, SAU · Magneti Marelli Sistemi Di Scarico S.p.A.

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
28000000	Equity Shares	Rs.10/- each	Rs. 280.000 Millions

Isued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27419000	Equity Shares	Rs.10/- each	Rs. 274.190 Millions

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	274.190	95.000	95.000
(b) Reserves & Surplus	(177.269)	(142.012)	(112.066)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	40.000	0.000
Total Shareholders’ Funds (1) + (2)	96.921	(7.012)	(17.066)
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	8.403	23.700
(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	1.091	0.990	0.829
Total Non-current Liabilities (3)	1.091	9.393	24.529
(4) Current Liabilities
(a) Short term borrowings	124.039	128.529	89.630
(b) Trade payables	299.835	318.997	260.195
(c) Other current liabilities	84.474	68.905	76.695
(d) Short-term provisions	1.488	1.049	0.619
Total Current Liabilities (4)	509.836	517.480	427.139
TOTAL	607.848	519.861	434.602
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	224.349	131.164	111.454
(ii) Intangible Assets	10.984	6.518	0.200
(iii) Capital work-in-progress	0.275	1.407	0.275
(iv) Intangible assets under development	1.739	5.990	6.019
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	21.134	14.720	3.006
(e) Other Non-current assets	2.815	0.000	0.000
Total Non-Current Assets	261.296	159.799	120.954
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	59.603	74.792	83.470
(c) Trade receivables	210.399	220.423	199.165
(d) Cash and cash equivalents	0.480	6.637	12.874
(e) Short-term loans and advances	76.066	58.210	18.139
(f) Other current assets	0.004	0.000	0.000
Total Current Assets	346.552	360.062	313.648
TOTAL	607.848	519.861	434.602

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	857.024	1060.848	1056.128
		Other Income	28.033	24.304	6.680
		TOTAL	885.057	1085.152	1062.808
Less	EXPENSES
		TOTAL	920.314	1115.198	1083.445
	PROFIT/LOSS BEFORE TAX		(35.258)	(30.046)	(20.637)
Less	TAX		0.000	0.000	0.000
	PROFIT/LOSS AFTER TAX		(35.258)	(30.046)	(20.637)
	Earnings Per Share (Rs.)		(1.29)	(0.11)	(0.75)

Expected Sales (2014-15) : Rs. 1000.000 Millions

The above information has been parted by Mr. Manoj

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(4.07)	(2.77)	(1.94)
Return on Total Assets (PBT/Total Assets}	(%)	(5.82)	(5.86)	(4.82)
Return on Investment (ROI) (PBT/Networth)		(0.36)	4.28	1.21
Debt Equity Ratio (Total Debt /Networth)		1.28	(19.53)	(6.64)
Current Ratio (Current Asset/Current Liability)		0.68	0.70	0.73

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	95.000	95.000	274.190
Reserves & Surplus	(112.066)	(142.012)	(177.269)
Net worth	(17.066)	(47.012)	96.921
long-term borrowings	23.700	8.403	0.000
Short term borrowings	89.630	128.529	124.039
Total borrowings	113.330	136.932	124.039
Debt/Equity ratio	(6.641)	(2.913)	1.280

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	1056.128	1060.848	857.024
		0.447	(19.213)

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	1056.128	1060.848	857.024
Profit	(20.637)	(30.046)	(35.258)
	(1.95%)	(2.83%)	(4.11%)

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	Yes
18]	Major customers	Yes
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	Yes

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Loans and advance from related parties	88.400	88.400
Total	88.400	88.400

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10170867	31/07/2009	100,000,000.00	CORPORATION BANK INDUSTRIAL FINANCE BRANCH	1ST, FLOOR, 16/10,MAIN ARYA SAMAJ ROAD,KAROL BAGH, NEW DELHI, Delhi - 110001, INDIA	A67823476
2	10170868	31/07/2009	160,000,000.00	CORPORATION BANK INDUSTRIAL FINANCE BRANCH	1ST, FLOOR, 16/10,MAIN ARYA SAMAJ ROAD,KAROL BAGH, NEW DELHI, Delhi - 110001, INDIA	A67824003

* Date of charge modification

OPERATIONS

The Company was able to achieve a turnover of Rs. 857.024 Million as against Rs. 1060.848 Million last year and due to heavy interest burden, loss of volume and the cost of raw materials, the Company was not able to come up with profit and incurred the loss of Rs. 35.258 Million however keeping in view the growth potential of the Company, it is expected that it will surface up with the profit in the years to come.

FIXED ASSETS

· Plant Machinery

· Factory Equipments

· Computer Equipments

· Other Equipments

· Furniture Fixtures

· Computer Software

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. 61.13
UK Pound	1	Rs. 97.05
Euro	1	Rs. 77.36

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KRN
Report Prepared by :	ANU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.