MIRA INFORM REPORT

Report Date :

09.12.2014

IDENTIFICATION DETAILS

Name :	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED
Registered Office :	Plot No.21, Bidadi Industrial Area Ramanagaram Taluk, Bangalore Rural District – 562109, Karnataka
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.04.2002
Com. Reg. No.:	08-030335
Capital Investment / Paid-up Capital :	Rs.3375.000 Million
CIN No.: [Company Identification No.]	U35914KA2002PTC030335
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRTO1753D
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturers and Exporter of transmissions, front and rear axles, Propeller shafts, stiffener and components of automobiles.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 13000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well-established company having fine track record. The rating reflects company’s healthy operational risk profile marked by decent financial base and adequate profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Not Available

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. Dharani Kumara
Designation :	Finance Head
Contact No.:	91-9538846861
Date :	05.12.2014

LOCATIONS

Registered Office :	Plot No.21, Bidadi Industrial Area Ramanagaram Taluk, Bangalore Rural District – 562109, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-9538846861
Fax No.:	Not Available
E-Mail :	rohits@tkap.co.in

DIRECTORS

As on 27.06.2014

Name :

Mr. Vikarm Shreekant Kirloskar

Designation :

Vice Chairman

Address :

Kirloskar Residence, Kirloskar Business Park, Bellary Road, Hebbal, Bangalore – 560024, Karnataka, India

Date of Birth/Age :

19.11.1958

Date of Appointment :

25.06.2007

DIN No.:

00007907

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	L29113PN1920PLC000670	KIRLOSKAR BROTHERS LIMITED	Director	20/01/2010	18/08/1987	-	Active	NO
2	U31909KA1993PTC014893	KIRLOSKAR TECHNOLOGIES PRIVATE LIMITED	Director	11/07/2013	05/11/1993	-	Active	NO
3	U99999KA1995PTC018529	Kirloskar Toyota Textile Machinery Private Limited	Director	14/08/1995	14/08/1995	-	Active	NO
4	U34101KA1997PTC022858	TOYOTA KIRLOSKAR MOTOR PRIVATE LIMITED	Director	06/10/1997	06/10/1997	-	Active	NO
5	U34300KA1962PLC053582	KIRLOSKAR SYSTEMS LIMITED	Managing director	29/10/2012	29/09/1999	-	Active	NO
6	U35914KA2002PTC030335	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED	Director	25/06/2007	10/04/2002	-	Active	NO
7	L29120PN1974PLC110307	KIRLOSKAR PNEUMATIC COMPANY LIMITED	Director	28/06/2002	28/06/2002	-	Active	NO
8	L29112PN1978PLC088972	KIRLOSKAR INDUSTRIES LIMITED	Director	19/05/2004	19/05/2004	18/05/2012	Active	NO
9	L64202KA2000PLC027860	ONMOBILE GLOBAL LIMITED	Director	17/08/2007	24/07/2006	07/08/2008	Active	NO
10	U74996KA2008PTC044934	VikramGeet Investments and Holdings Private Limited	Director	11/01/2008	11/01/2008	-	Active	NO
11	U93090KA2008NPL045150	COMMON PURPOSE INDIA	Director	04/02/2008	04/02/2008	08/11/2010	Active	NO
12	U66010KA2008PTC045231	TOYOTA TSUSHO INSURANCE BROKER INDIA PRIVATE LIMITED	Director	08/02/2008	08/02/2008	27/12/2012	Active	NO
13	U64201PN1998PLC012654	QUADRANT COMMUNICATIONS LIMITED	Director	06/09/2010	07/10/2009	-	Active	NO
14	U34300KA1998PTC023708	DENSO KIRLOSKAR INDUSTRIES PRIVATE LIMITED	Director	27/09/2010	12/01/2010	-	Active	NO
15	U31102MH1965PLC013362	KIRLOSKAR PROPRIETARY LIMITED	Director	17/09/2010	12/03/2010	-	Active	NO
16	U65993MH1972PTC016178	ASARA SALES AND INVESTMENT PRIVATE LIMITED	Director	14/09/2010	12/03/2010	-	Active	NO
17	U85100KA2010PTC055258	TAKSHASILA HEALTHCARE AND RESEARCH SERVICE PRIVATE LIMITED	Nominee director	24/07/2012	22/09/2010	-	Active	NO
18	U29253HR2010FTC048762	Toyota Material Handling India Private Limited	Director	06/02/2012	06/02/2012	-	Active	NO
19	U73100DL2011NPL228097	Global Innovation & Technology Alliance	Nominee director	24/12/2012	24/02/2012	-	Active	NO
20	U85110KA2012PTC063508	TAKSHASILA HOSPITALS OPERATING PRIVATE LIMITED	Nominee director	19/06/2012	12/04/2012	-	Active	NO
21	U65900KA2012PTC064328	VSK HOLDINGS PRIVATE LIMITED	Director	11/06/2012	11/06/2012	-	Active	NO

Name :

Mr. Kyoichi Tanada

Designation :

Director

Address :

7-6-309, Nanpeidaicho, Shibuya-ku, Tokyo – 150-0036, Japan

Date of Birth/Age :

22.10.1954

Date of Appointment :

25.06.2013

DIN No.:

05309280

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	U34101KA1997PTC022858	TOYOTA KIRLOSKAR MOTOR PRIVATE LIMITED	Director	21/06/2012	21/06/2012	-	Active	NO
2	U74140KA1998PTC024262	TOYOTA TECHNO PARK INDIA PRIVATE LIMITED	Director	25/06/2013	25/06/2013	-	Active	NO
3	U35914KA2002PTC030335	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED	Director appointed in casual vacancy	25/06/2013	25/06/2013	-	Active	NO

Name :

Mr. Yuji Hiraoka

Designation :

Managing Director

Address :

Pebble Bay, Apartment No. 163, Tower 3, 1^st Main Road, Rajamahal Vilas II, Dollars Colony, Bangalore – 560094, Karnataka, India

Date of Birth/Age :

20.07.1957

Date of Appointment :

21.06.2012

DIN No.:

05199464

Name :

Mr. Aritsune Ueno

Designation :

Deputy Managing Director

Address :

A-801, Brigade Gateway, Andromeda, A Wing, No. 26/1, Dr. Rajkumar Road, Rajajinagar Extension, Bangalore – 560055, Karnataka, India

Date of Birth/Age :

21.11.1963

Date of Appointment :

21.06.2012

DIN No.:

05199477

Name :

Mr. Mohan Kumar Govinda Varrier Karakkattu

Designation :

Deputy Managing Director

Address :

A 203, 6 CRS, Poojari L/O, RMV 2 STG B, Vaishnavi Splendour, Bangalore – 560094, Karnataka, India

Date of Birth/Age :

24.07.1962

Date of Appointment :

01.01.2014

DIN No.:

02487408

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	U35914KA2002PTC030335	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED	Whole-time director	01/01/2014	08/01/2009	-	Active	NO
2	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	27/08/2010	27/08/2010	11/09/2014	Active	NO

Name :

Mr. Hiroyasu Tsubouchi

Designation :

Whole-time Director

Address :

Flat No. C-1106, 11^th Floor of C Wing Corona, Brigade Gateway, Rajajinagar Extension, Malleswaram West, Bangalore – 560055, Karnataka, India

Date of Birth/Age :

07.08.1963

Date of Appointment :

01.07.2013

DIN No.:

06638933

Name :

Mr. Naomi Ishii

Designation :

Director

Address :

No. 51-6, Yamazato – cho, Showa-ku, Nagoya, Aichi, Japan

Date of Birth/Age :

06.06.1965

Date of Appointment :

06.01.2014

DIN No.:

06779390

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	U34101KA1997PTC022858	TOYOTA KIRLOSKAR MOTOR PRIVATE LIMITED	Managing director	06/01/2014	06/01/2014	-	Active	NO
2	U35914KA2002PTC030335	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED	Director appointed in casual vacancy	06/01/2014	06/01/2014	-	Active	NO
3	U74140KA1998PTC024262	TOYOTA TECHNO PARK INDIA PRIVATE LIMITED	Alternate director	06/01/2014	06/01/2014	-	Active	NO
4	U74900KA2011FLC058752	Toyota Financial Services India Limited	Director	13/05/2014	31/01/2014	-	Active	NO

Name :

Mr. Koichi Sugihara

Designation :

Director

Address :

7-9-4, Miyoshigaoka, Miyoshi Cho, Nishikamo District, Aichi Prefecture, Japan

Date of Birth/Age :

11.05.1956

Date of Appointment :

27.06.2014

DIN No.:

03599668

Name :

Masanori Takahashi

Designation :

Alternate Director to Mr. Koichi Sugihara

Address :

1-102, Fujitsuka, Nisshin City, Aichi – 4700353, Japan

Date of Birth/Age :

25.09.1958

Date of Appointment :

25.01.2013

DIN No.:

02506394

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	U34101KA1997PTC022858	TOYOTA KIRLOSKAR MOTOR PRIVATE LIMITED	Whole-time director	25/06/2013	08/01/2009	-	Active	NO
2	U35914KA2002PTC030335	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED	Alternate director	25/01/2013	25/01/2013	-	Active	NO

Name :

Mr. Norio Sasaki

Designation :

Director

Address :

15-16, Tennoudai, Miyoshi-shi, Aichi, Japan

Date of Birth/Age :

10.06.1953

Date of Appointment :

28.06.2011

DIN No.:

03125033

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	U35914KA2002PTC030335	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED	Director	28/06/2011	24/06/2010	-	Active	NO
2	U99999KA1995PTC018529	Kirloskar Toyota Textile Machinery Private Limited	Director	17/09/2010	28/06/2010	-	Active	NO

Name :

Mr. Masafumi Kunito

Designation :

Director and Alternate Director to Mr. Norio Sasaki

Address :

No. 705, 7^th Floor, Olmpus Tower II, Prestige, Acropolis, No.20, Housur Road, Koramanagala, Bangalore – 560029, Karnataka, India

Date of Birth/Age :

27.01.1959

Date of Appointment :

21.06.2012

DIN No.:

02685172

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	U99999KA1995PTC018529	Kirloskar Toyota Textile Machinery Private Limited	Managing director	05/07/2012	01/06/2009	-	Active	NO
2	U35914KA2002PTC030335	TOYOTA KIRLOSKAR AUTO PARTS PRIVATE LIMITED	Director	21/06/2012	30/06/2009	-	Active	NO
3	U29253HR2010FTC048762	Toyota Material Handling India Private Limited	Director	01/12/2012	01/12/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rohit S. Swamy
Designation :	Secretary
Address :	No. 64/41, Christha Kuteer, 11^th Main, 14^th Cross, Padmanabha Nagar, Bangalore – 560070, Karnataka, India
Date of Birth/Age :	21.10.1974
Date of Appointment :	10.09.2007
PAN No. :	AZMPS0683C

MAJOR SHAREHOLDERS

As on 27.06.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Toyota Motor Corporation	216000000	64.00
Toyota Industries Corporation	87750000	26.00
Kirloskar Systems Limited	33750000	10.00
Total	337500000	100.00

As on 27.06.2014

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	90.00
Bodies corporate	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers and Exporter of transmissions, front and rear axles, Propeller shafts, stiffener and components of automobiles.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :	Not Divulged
Customers :	Not Divulged
No. of Employees :	Information declined by the management.
Bankers :	Not Divulged

Auditors :
Name :	Lovelock and Lewes Chartered Accountants
Address :	Bangalore, Karnataka, India
PAN No.:	AABFL5875L
Memberships :	---
Collaborators :	---
Holding company :	· Toyota Motor Corporation, JAPAN
	·
Fellow Subsidiaries :	· Toyota Industries Corporation, Japan · Toyota Kirloskar Motor Private Limited, India · Toyota Motor Asia Pacific Private Limited, Singapore · Toyota Motor Company Limited, Thailand · Toyota Motor Asia Pacific-Engineering And Manufacturing, Thailand · Toyota Auto Parts, Philippines · Siam Toyota Manfacturing Company Limited, Thailand

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
337500000	Equity Shares	Rs.10/-each	Rs.3375.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
337500000	Equity Shares	Rs.10/-each	Rs.3375.000 Million

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	3375.000	3375.000	3375.000
(b) Reserves & Surplus	1501.630	1232.070	1000.190
(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)	4876.630	4607.070	4375.190
(3) Non-Current Liabilities
(a) long-term borrowings	3842.530	4403.460	3836.220
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	289.200	0.170	0.170
(d) long-term provisions	120.370	132.280	99.890
Total Non-current Liabilities (3)	4252.100	4535.910	3936.280
(4) Current Liabilities
(a) Short term borrowings	3.620	13.970	18.380
(b) Trade payables	1086.560	1560.010	1116.520
(c) Other current liabilities	1250.990	337.440	706.030
(d) Short-term provisions	236.790	187.750	108.120
Total Current Liabilities (4)	2577.960	2099.170	1949.050
TOTAL	11706.690	11242.150	10260.520
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5664.680	6103.410	1017.640
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	59.610	40.470	3913.280
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	132.160	80.710	246.500
(d) Long-term Loan and Advances	766.970	585.160	386.690
(e) Other Non-current assets	3.950	5.710	5.710
Total Non-Current Assets	6627.370	6815.460	5569.820
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1093.880	1161.540	621.720
(c) Trade receivables	1143.610	1761.440	1016.640
(d) Cash and cash equivalents	2572.290	1064.380	2744.240
(e) Short-term loans and advances	212.760	379.790	249.870
(f) Other current assets	56.780	59.540	58.230
Total Current Assets	5079.320	4426.690	4690.700
TOTAL	11706.690	11242.150	10260.520

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	14732.270	11762.450	7236.940
	Other Income	266.960	141.390	202.470
	TOTAL	14999.230	11903.840	7439.410
Less	EXPENSES	14155.060	11422.140	7109.810
	PROFIT/ (LOSS) BEFORE TAX	844.170	481.700	329.600
Less	TAX	462.250	154.850	86.890
	PROFIT/ (LOSS) AFTER TAX	381.920	326.850	242.710
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	1199.380	1000.190	757.480
Less	APPROPRIATIONS
	Transfer to General Reserve	(38.190)	(32.690)	0.000
	Proposed Dividend on Equity Shares	(95.480)	(81.710)	0.000
	Dividend Distribution Tax on Proposed dividend on equity Shares	(16.860)	(13.260)	0.000
	Transfer to General Reserve	1430.770	1199.380	0.000
	Total	1280.240	1071.720	0.000
	Balance Carried to the B/S	301.060	255.320	1000.190
	Earnings / (Loss) Per Share (Rs.)	1.13	0.97	0.72

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.59	2.77	3.35
Return on Total Assets (PBT/Total Assets}	(%)	7.33	4.33	5.40
Return on Investment (ROI) (PBT/Networth)		0.17	0.10	0.08
Debt Equity Ratio (Total Liability/Networth)		0.79	0.96	0.88
Current Ratio (Current Asset/Current Liability)		1.97	2.11	2.41

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	3375.000	3375.000	3375.000
Reserves & Surplus	1000.190	1232.070	1501.630
Net worth	4375.190	4607.070	4876.630
long-term borrowings	3836.220	4403.460	3842.530
Short term borrowings	18.380	13.970	3.620
Total borrowings	3854.600	4417.430	3846.150
Debt/Equity ratio	0.881	0.959	0.789

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	7236.940	11762.450	14732.270
		62.533	25.248

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	7236.940	11762.450	14732.270
Profit	242.710	326.850	381.920
	3.35%	2.78%	2.59%

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	No
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	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	No
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

LITIGATION DETAILS:

CASE PENDING

High Court of Karnataka -Bangalore Bench

ITA 172/2013

Petitioner/Appnt. Name	THE COMMISSIONER OF INCOME-TAX		Respondent/Defnt. Name	M/S TOYOTA KIRLOSKAR MOTORS PVT LTD.,
Petnr./Appnt. Advocate	K V ARAVIND		Respnt./Defnt. Advocate	S SRIRANGA
Date Filed	03/04/2013	Classification	District	Bangalore City

Stage	HEARING	Last Posted For	ADMISSION	Next Hearing Date
Last Action Taken	ADMIT/RULE	Last Date of Action	03/12/2013
Latest Order
Before Hon'ble Judge/s	N.KUMAR RATHNAKALA

INDEX OF CHARGES

No Charges Exist for Company

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	0.000	919.940
Foreign currency term loans from others	3842.530	3483.520
SHORT TERM BORROWINGS
Loans repayable on demand from banks	3.620	13.970
Total	3846.150	4417.430

FIXED ASSETS

· Land - Freehold

· Factory Buildings

· Plant and Machinery

· Data Processing Equipment

· Furniture and Fixtures

· Office Equipment

· Vehicles

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 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.61.92
UK Pound	1	Rs.96.37
Euro	1	Rs.76.10

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.