MIRA INFORM REPORT

Report Date :

06.12.2014

IDENTIFICATION DETAILS

Name :	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED
Registered Office :	CE 7011-15, 7^thFloor, Tower C, Central Wing, Bharat Diamond Bourse, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	05.04.2007
Com. Reg. No.:	11-169724
Capital Investment / Paid-up Capital :	Rs.1183.551 Millions
CIN No.: [Company Identification No.]	U52393MH2007PTC169724
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	MUMM31691C
PAN No.: [Permanent Account No.]	AAFCM0246E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader and Exporter of Polished Diamonds and Rough Diamond.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 8100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects company’s established track of business operation marked strong marketing network, well-diversified presence across the globe and sound general financial position. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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	CARE
Rating	Long term bank facilities A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	March 19, 2014

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. Jignesh P Mangukia
Designation :	Vice President Finance
Contact No.:	91-22-66615600
Date :	04.12.2014

LOCATIONS

Registered Office :	CE 7011-15, 7^thFloor, Tower C, Central Wing, Bharat Diamond Bourse, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Tel. No.:	91-22-66615600 /23634565
Fax No.:	91-22-66615661
E-Mail :	account@mahendrabrother.com info@mahendrabrother.com mahebros@giasbm01.vsnl.net.in mgassociates@vsnl.com export@mahendrabrothers.com
Website :	www.mahendrabrothers.com
Head Office / Sales Office :	Tower C, Central Wing, CE 7011-15, (8^th floor) G Block, Bharat Diamond Bourse, BKC, Bandra (E), Mumbai 400051, Maharashtra, India
Tel. No.:	91-22-66156000
Fax No.:	91-22-66615633

DIRECTORS

As on. 25.09.2014

Name :

Mr. Saunak Jitendra Parikh

Designation :

Whole Time Director

Address :

F-171, Patit Hall Menka 66, Nepeansea Road, Mumbai – 40006, Maharashtra, India

Date of Birth/Age :

22.08.1971

Qualification :

B.Com

Date of Appointment :

05.04.2007

DIN No.:

00256316

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	U70101MH1994PTC083129	PRICELESS PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	21/11/1994	21/11/1994	-	Active	NO
2	U36912MH1994PLC083128	MULTIFACED IMPEX LIMITED	Director	21/11/1994	21/11/1994	18/08/2008	Active	NO
3	U36911MH1989PTC052544	UNI-DESIGN JEWELLERY PRIVATE LIMITED.	Director	27/01/1995	27/01/1995	05/03/2012	Active	NO
4	U67120MH1995PTC088975	VISUALISE FINANCIALS PRIVATE LIMITED	Director	31/05/1995	31/05/1995	-	Amalgamated	NO
5	U99999MH1999PTC120538	AASHI JEWELS PRIVATE LIMITED	Director	25/06/1999	25/06/1999	-	Amalgamated	NO
6	U36912MH2000PTC126428	UNI-DESIGN JEWELLERY (INDIA) PRIVATE LIMITED	Director	26/06/2000	26/06/2000	-	Active	NO
7	U55200MH1994PTC083135	PANVEL HOLIDAY RESORTS PRIVATE LIMITED	Director	02/09/2000	02/09/2000	-	Active	NO
8	U70101MH1993PTC071863	RIJAY PROPERTIES AND DEVELOPERS PVT LTD	Director	02/07/2001	02/07/2001	-	Amalgamated	NO
9	U67120MH1995PTC088974	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED	Director	02/07/2001	02/07/2001	05/03/2012	Active	NO
10	U91900MH1998PTC115374	SKYHIGH TRUSTEE SERVICES PRIVATE LIMITED	Director	08/07/2001	08/07/2001	27/07/2009	Active	NO
11	U65990MH1994PTC082315	ACCREDUT FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	05/01/2004	05/01/2004	-	Active	NO
12	U51398MH2003PTC142596	MAHENDRA BROTHERS DIAMONDS PRIVATE LIMITED	Director	14/06/2007	31/01/2007	-	Amalgamated	NO
13	U51398MH2003PTC193243	RIJAY DIAMOND EXPORTS PRIVATE LIMITED	Director	31/01/2007	31/01/2007	-	Amalgamated	NO
14	U52393MH2007PTC169724	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED	Whole-time director	05/04/2007	05/04/2007	-	Active	NO
15	U36911KL2008PTC022587	MBMG DIAMONDS PRIVATE LIMITED	Nominee director	02/09/2008	11/06/2008	-	Active	NO
16	U70102MH1993PTC071937	SAUMIL PROPERTIES AND DEVELOPERS PVT.LTD.	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
17	U36912MH1987PTC044898	PARMES DIAMONDS EXPORTS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	05/03/2012	Active	NO
18	U99100MH1966GAP013486	THE GEM AND JEWELLERY EXPORT PROMOTION COUNCIL	Director	27/09/2012	27/09/2012	-	Active	NO
19	AAA-0426	ACCENDO ENTERPRISE LLP	Designated Partner	27/11/2009	27/11/2009	-	Active	NO
20	AAA-0578	SMARAN ENTERPRISE LLP	Designated Partner	07/01/2010	07/01/2010	-	Active	NO
21	AAA-0876	UNI-DESIGN JEWELLERY HOLDINGS LLP	Body corporate as Designated Partner	12/03/2010	12/03/2010	-	Active	NO
22	AAA-1059	SMARAN RETAIL LLP	Body corporate as Designated Partner	01/04/2010	01/04/2010	-	Active	NO
23	AAA-2802	MBD TRADING LLP	Body corporate as Designated Partner	15/11/2010	15/11/2010	-	Active	NO

Name :

Ms. Milan Kavin Parikh

Designation :

Whole Time Director

Address :

15-A, Next to Khatau Condominium, J. Mehta Marg, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

06.07.1963

Qualification :

B.Com

Date of Appointment :

05.04.2007

PAN No.:

AADPP0814G

DIN No.:

00256411

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	U36912MH1987PTC044898	PARMES DIAMONDS EXPORTS PRIVATE LIMITED	Director	01/04/1994	01/04/1994	-	Active	NO
2	U70101MH1994PTC083129	PRICELESS PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	21/11/1994	21/11/1994	-	Active	NO
3	U36911MH1989PTC052544	UNI-DESIGN JEWELLERY PRIVATE LIMITED.	Director	30/11/1994	30/11/1994	-	Active	NO
4	U67120MH1995PTC088974	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED	Director	31/05/1995	31/05/1995	-	Active	NO
5	U45200MH1995PTC093046	ASMINA PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	25/09/1995	25/09/1995	-	Active	NO
6	U36912MH1994PLC083128	MULTIFACED IMPEX LIMITED	Director	05/02/1998	05/02/1998	18/08/2008	Active	NO
7	U91900MH1998PTC115374	SKYHIGH TRUSTEE SERVICES PRIVATE LIMITED	Director	17/06/1998	17/06/1998	27/07/2009	Active	NO
8	U99999MH1999PTC120538	AASHI JEWELS PRIVATE LIMITED	Director	25/06/1999	25/06/1999	-	Amalgamated	NO
9	U36912MH2000PTC126428	UNI-DESIGN JEWELLERY (INDIA) PRIVATE LIMITED	Director	11/05/2000	11/05/2000	-	Active	NO
10	U70101MH1993PTC071863	RIJAY PROPERTIES AND DEVELOPERS PVT LTD	Director	02/07/2001	02/07/2001	-	Amalgamated	NO
11	U70102MH1993PTC071937	SAUMIL PROPERTIES AND DEVELOPERS PVT.LTD.	Director	02/07/2001	02/07/2001	-	Amalgamated	NO
12	U67120MH1995PTC088975	VISUALISE FINANCIALS PRIVATE LIMITED	Director	02/07/2001	02/07/2001	-	Amalgamated	NO
13	U55200MH1994PTC083135	PANVEL HOLIDAY RESORTS PRIVATE LIMITED	Director	02/07/2001	02/07/2001	31/08/2009	Active	NO
14	U65990MH1994PTC082315	ACCREDUT FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	05/01/2004	05/01/2004	-	Active	NO
15	U51398MH2003PTC142596	MAHENDRA BROTHERS DIAMONDS PRIVATE LIMITED	Director	20/01/2004	20/01/2004	-	Amalgamated	NO
16	U51398MH2003PTC193243	RIJAY DIAMOND EXPORTS PRIVATE LIMITED	Director	19/11/2004	19/11/2004	-	Amalgamated	NO
17	U36910MH2004PLC146406	NAKSHATRA BRANDS LIMITED	Director	01/04/2005	01/04/2005	28/08/2007	Active	NO
18	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	23/12/2010	28/09/2006	-	Active	NO
19	U52393MH2007PTC169724	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED	Whole-time director	05/04/2007	05/04/2007	-	Active	NO
20	U36911KL2008PTC022587	MBMG DIAMONDS PRIVATE LIMITED	Nominee director	02/09/2008	02/09/2008	-	Active	NO
21	U74999MH2008NPL185159	International Wine and Food Society	Additional director	11/05/2009	11/05/2009	30/03/2010	Active	NO
22	AAA-0578	SMARAN ENTERPRISE LLP	Designated Partner	07/01/2010	07/01/2010	-	Active	NO
23	AAA-2802	MBD TRADING LLP	Designated Partner	15/11/2010	15/11/2010	-	Active	NO

Name :

Mr. Hiten Bagmal Parikh

Designation :

Whole Time Director

Address :

41, Laxmi Vilas, 8 Nepean Sea Road, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

03.09.1956

Qualification :

S.S.C.

Date of Appointment :

05.04.2007

PAN No.:

AABPP5876A

DIN No.:

00292585

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	U70101MH1993PTC071863	RIJAY PROPERTIES AND DEVELOPERS PVT LTD	Director	07/05/1993	07/05/1993	-	Amalgamated	NO
2	U36912MH1987PTC044898	PARMES DIAMONDS EXPORTS PRIVATE LIMITED	Director	01/04/1994	01/04/1994	-	Active	NO
3	U51398MH2003PTC142596	MAHENDRA BROTHERS DIAMONDS PRIVATE LIMITED	Director	25/08/2006	25/08/2006	-	Amalgamated	NO
4	U51398MH2003PTC193243	RIJAY DIAMOND EXPORTS PRIVATE LIMITED	Director	25/08/2006	25/08/2006	-	Amalgamated	NO
5	U52393MH2007PTC169724	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED	Whole-time director	05/04/2007	05/04/2007	-	Active	NO
6	U99999MH1999PTC120538	AASHI JEWELS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
7	U70102MH1993PTC071937	SAUMIL PROPERTIES AND DEVELOPERS PVT.LTD.	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
8	U70101MH1994PTC083129	PRICELESS PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Active	NO
9	U65990MH1994PTC082315	ACCREDUT FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Active	NO
10	U67120MH1995PTC088975	VISUALISE FINANCIALS PRIVATE LIMITED	Director	29/09/2010	05/09/2009	-	Amalgamated	NO
11	AAA-0426	ACCENDO ENTERPRISE LLP	Designated Partner	27/11/2009	27/11/2009	-	Active	NO

Name :

Mr. Raj Hiten Parikh

Designation :

Whole Time Director

Address :

41-Laxmi Vilas, 87 Nepeansea Road, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

21.12.1981

Date of Appointment :

05.04.2007

PAN No.:

AGFPP6664E

DIN No.:

00921828

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	U36911MH1989PTC052544	UNI-DESIGN JEWELLERY PRIVATE LIMITED.	Director	08/11/2004	08/11/2004	-	Active	NO
2	U67120MH1995PTC088974	UNI DESIGN ELITE JEWELLERY PRIVATE LIMITED	Director	24/01/2005	24/01/2005	-	Active	NO
3	U51398MH2003PTC142596	MAHENDRA BROTHERS DIAMONDS PRIVATE LIMITED	Director	14/06/2007	31/01/2007	31/08/2009	Amalgamated	NO
4	U51398MH2003PTC193243	RIJAY DIAMOND EXPORTS PRIVATE LIMITED	Director	31/01/2007	31/01/2007	14/09/2009	Amalgamated	NO
5	U52393MH2007PTC169724	MAHENDRA BROTHERS EXPORTS PRIVATE LIMITED	Whole-time director	05/04/2007	05/04/2007	-	Active	NO
6	U36911KL2008PTC022587	MBMG DIAMONDS PRIVATE LIMITED	Nominee director	02/09/2008	02/09/2008	-	Active	NO
7	U36912MH2000PTC126428	UNI-DESIGN JEWELLERY (INDIA) PRIVATE LIMITED	Director	31/08/2009	31/08/2009	-	Active	NO
8	U99999MH1999PTC120538	AASHI JEWELS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
9	U70102MH1993PTC071937	SAUMIL PROPERTIES AND DEVELOPERS PVT.LTD.	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
10	U70101MH1993PTC071863	RIJAY PROPERTIES AND DEVELOPERS PVT LTD	Director	29/09/2010	31/08/2009	-	Amalgamated	NO
11	U70101MH1994PTC083129	PRICELESS PROPERTIES AND DEVELOPERS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Active	NO
12	U65990MH1994PTC082315	ACCREDUT FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	29/09/2010	31/08/2009	-	Active	NO
13	U67120MH1995PTC088975	VISUALISE FINANCIALS PRIVATE LIMITED	Director	29/09/2010	05/09/2009	-	Amalgamated	NO
14	AAA-0876	UNI-DESIGN JEWELLERY HOLDINGS LLP	Body corporate as Designated Partner	05/03/2010	05/03/2010	-	Active	NO
15	AAA-0876	UNI-DESIGN JEWELLERY HOLDINGS LLP	Body corporate as Designated Partner	12/03/2010	12/03/2010	-	Active	NO
16	AAA-1059	SMARAN RETAIL LLP	Body corporate as Designated Partner	01/04/2010	01/04/2010	-	Active	NO

Name :

Mr. Rishi Hiten Parikh

Designation :

Director

Address :

41-Laxmi Vilas, 87 Nepeansea Road, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

22.10.1987

Date of Appointment :

15.10.2012

PAN No.:

AAIPP6682M

DIN No.:

06405194

KEY EXECUTIVES

Name :	Mr. Jignesh P Mangukia
Designation :	Vice President Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2014

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

As on 25.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	4.50
Directors or relatives of Directors	71.49
Other top fifty shareholders	24.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Trader and Exporter of Polished Diamonds and Rough Diamond.

Products :

Item Code No. (ITC Code)	Product Description
71023901	Polished diamonds
71023100	Rough diamonds

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports:

Products :

· Polish Diamond

Countries :

· USA

· Europe

· Hong Kong

· Australia

· New Zealand

· Japan

Imports :

Products :

· Rough Diamond

Countries :

· Botswana

· Belgium

· Dubai

Terms :

Selling :

Cash and Credit (30 Days)

Purchasing :

Cash and Credit (30 Days)

GENERAL INFORMATION

Suppliers :

· Dimond Trading Company - USA

Customers :

· Daimond Rough Soursing – Limburg

No. of Employees :

1000 (Approximately)

Bankers :

Banker Name	The Royal Bank Of Scotland
Branch Address	N.V (Acting as lead bank), 74, Sakhar Bhavan, 7^th Floor, Nariman Point, Mumbai-400021, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91- 22-66585996
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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Number Continuusly Ringing

Banker Name	Bank Of India
Branch Address	Bharat Diamond (Branch)
Person Name (With Designation)	Mr. Badrinath
Contact Number	91- 22-61870705
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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	We are unable to contact the bank because of bank strike.

Banker Name	Mahendra Brothers Exports Private Limited and ABN Amro Bank N.V
Branch Address	Sakher Bhavan, 4^th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India
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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. InMillions)

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Working capital loans from banks	NA	5927.670
Total	NA	5927.670

Banking Relations :	---
Auditors :
Name :	Sampat Mehta and Associates Chartered Accountants
Address :	B-501 / 502 11, Sarvoday, Westernexpres S Highway Bandra - East, Mumbai 400051, Maharashtra, India
E-Mail :	info@sampatmehata.com
Website :	www.sampatmehta.com
PAN No. :	AAAFS1266J
Memberships :	--
Collaborators :	--
Subsidiary Company :	² Mahendra Brothers Diamonds SA ( PTY) Limited
Enterprises significantly influenced by key management personnel :	² MB Investments ² Parmes Diamonds Exports Private Limited ² Smaran Enterprises LLP ² Uni-Design (Elite) Jewellery Private Limited ² Uni-Design Jewellery (India) Private Limited ² Uni-Design Jewellery Private Limited ² MBMG Diamonds Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
70000000	Equity Shares	Rs.10/- each	Rs.700.000 Millions
155000000	Preference Shares	Rs.10/- each	Rs.1550.000 Millions
25000000	Unclassified Shares	Rs.10/- each	Rs.250.000 Millions
	Total		Rs.2500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
63357071	Equity Shares	Rs.10/- each	Rs.633.571 Millions
54998100	Preference Shares	Rs.10/- each	Rs.549.981 Millions
	Total		Rs.1183.551 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	1183.551	1183.552	1183.552
(b) Reserves & Surplus	1667.036	1443.807	1346.078
(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)	2850.587	2627.359	2529.630
(3) Non-Current Liabilities
(a) long-term borrowings	2294.651	741.000	767.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	1645.3	1639.859
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	2294.651	2386.300	2406.859
(4) Current Liabilities
(a) Short term borrowings	7424.176	5927.670	5788.855
(b) Trade payables	3694.726	4349.351	2977.650
(c) Other current liabilities	100.684	72.081	43.863
(d) Short-term provisions	1.173	1.293	1.130
Total Current Liabilities (4)	11220.759	10350.395	8811.498
TOTAL	16365.997	15364.054	13747.987
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1764.006	1856.070	1563.312
(ii) Intangible Assets	3.257	2.190	2.598
(iii) Capital work-in-progress	0.000	0.000	396.632
(iv) Intangible assets under development		0.000	0.000
(b) Non-current Investments	146.409	148.962	157.159
(c) Deferred tax assets (net)	(34.364)	306.490	338.821
(d) Long-term Loan and Advances	15.986	15.676	20.014
(e) Other Non-current assets	453.188	423.543	393.516
Total Non-Current Assets	2348.482	2752.931	2872.052
(2) Current assets
(a) Current investments	0.327	0.738	5.615
(b) Inventories	6658.979	6120.832	5536.551
(c) Trade receivables	6794.564	5928.773	4939.897
(d) Cash and cash equivalents	434.370	447.807	236.555
(e) Short-term loans and advances	125.376	110.634	156.935
(f) Other current assets	3.899	2.439	0.382
Total Current Assets	14017.515	12611.223	10875.935
TOTAL	16365.997	15364.154	13747.987

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	25819.197	21029.090
		Other Income	22.089	12.827
		TOTAL (A)	25841.286	21041.917	20544.353
Less	EXPENSES
		Cost of Materials Consumed	13657.051	11373.845
		Purchases of Stock-in-Trade	7799.801	6418.572
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(290.646)	(703.034)
		Employees benefits expense	177.063	163.721
		Other expenses	2786.449	2735.404
		TOTAL (B)	24129.718	19988.508	20363.220
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1711.568	1053.409	181.133
Less	FINANCIAL EXPENSES (D)		993.695	796.785	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		717.873	256.624	181.133
Less/ Add	DEPRECIATION/ AMORTISATION (F)		99.359	101.013	0.000
	PROFIT BEFORE TAX (E-F) (G)		618.514	155.611	181.133
Less	TAX (H)		354.453	28.360	152.658
	PROFIT AFTER TAX (G-H) (I)		264.061	127.251	28.475
	Earnings Per Share (Rs.)		4.17	2.01	0.24

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	1.02	0.61	NA
Operating Profit Margin (PBDIT/Total Income )	(%)	6.63	5.01	0.88
Return on Total Assets (PBT/Total Assets}	(%)	3.81	1.04	1.41
Return on Investment (ROI) (PBT/Networth)		0.22	0.06	0.07
Debt Equity Ratio (Total Debt /Networth)		3.41	2.54	2.59
Current Ratio (Current Asset/Current Liability)		1.25	1.22	1.23

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	1183.552	1183.552	1183.551
Reserves & Surplus	1346.078	1443.807	1667.036
Net worth	2529.630	2627.359	2850.587
long-term borrowings	767.000	741.000	2294.651
Short term borrowings	5788.855	5927.670	7424.176
Total borrowings	6555.855	6668.670	9718.827
Debt/Equity ratio	2.592	2.538	3.409

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	20544.353	21029.090	25819.197
		2.359	22.778

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	20544.353	21029.090	25819.197
Profit	28.475	127.251	264.061
	0.14%	0.61%	1.02%

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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Partly convertible debentures intercorporate	NA	741.100
Total	NA	741.100

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10454960	11/10/2013	500,000,000.00	INDUSIND BANK LTD.	INDUSIND HOUSE 425, DADASAHEB BHADKAMKAR MARG, MUMBAI, Maharashtra - 400004, INDIA	B87517876
2	10456606	01/10/2013	500,000,000.00	Bank of India	Bharat Diamond Bourse Br., D-2 / D-4, West Core, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, INDIA	B88171996
3	10456685	01/10/2013	500,000,000.00	Bank of India	Bharat Diamond Bourse Br., D-2 / D-4, West Core, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, INDIA	B88189741
4	10243655	01/10/2010	6,000,000,000.00	The Royal Bank of Scotland N.V. (acting as lead bank)	74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumbai, Maharashtra - 400021, INDIA	A95761466
5	10062592	01/03/2012 *	7,000,000,000.00	The Royal Bank of Scotland N.V. (acting as lead bank)	74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumbai, Maharashtra - 400021, INDIA	B35048834
6	80002357	17/03/2006 *	2,820,000,000.00	ABN AMRO BANK N.V.	2nd Floor, Sakhar Bhavan, Nariman Point, MUMBAI, Maharashtra - 400023, INDIA	-
7	80002358	05/03/2001	2,820,000,000.00	ABN Amro Bank NV and others	Mumbai, Mumbai, Maharashtra - 400023, INDIA	-

* Date of charge modification

FIXED ASSETS

œ Buildings

œ Plant and Equipment

œ Furniture and Fixtures

œ Vehicles

œ Office Equipment

œ Computer Equipments

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 records 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 wa 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.61.87
UK Pound	1	Rs.97.01
Euro	1	Rs.76.12

INFORMATION DETAILS

Information Gathered by :	GYT
Report Prepared by :	SPR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.