MIRA INFORM REPORT

Report Date :

15.12.2014

IDENTIFICATION DETAILS

Name :	KOSEI MINDA ALUMINUM COMPANY LIMITED (w.e.f. 05.09.2011)
Formerly Known As :	VARADA AUTO COMPONENTS LIMITED
Registered Office :	Plot No.20/A and A/B, SIPCOT Industrial Growth Center, Oragadam Extension Scheme, RNS Park, Village Vadakkupattu, Sriperubudur Taluk – 603204, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.03.2011
Com. Reg. No.:	18-079581
Capital Investment / Paid-up Capital :	Rs. 818.626 Millions
CIN No.: [Company Identification No.]	U28910TN2011PLC079581
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CHEV10802B
PAN No.: [Permanent Account No.]	AADCV5849G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the manufacture, development and sale of aluminum wheels and other accessories / parts for automobile industry.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 1000000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Profitability of the company is under pressure. There are accumulated losses recorded by the company. However, trade relation are fair. Business is active. Payment terms are 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.

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 DECLINED BY

Management non co-operative (11-124-2290693)

LOCATIONS

Registered Office :	Plot No.20/A and 20/B, SIPCOT Industrial Growth Center, Oragadam Extension Scheme, RNS Park, Village Vadakkupattu, Sriperubudur Taluk – 603204, Tamilnadu, India
Tel. No.:	91-124-2290693 / 428
Fax No.:	91-124-2240695
E-Mail :	info@mindagroup.com corpcomm@mindagroup.com investor@mindagroup.com dpanda@mindagroup.com
Website :	www.mindagroup.com

DIRECTORS

As on 19.07.2014

Name :

Mr. Nirmal Kumar Minda

Designation :

Director

Address :

J 10/33 DLF Phase-II, Gurgaon – 122002, Haryana, India

Date of Appointment :

10.03.2011

PAN No.:

AFYPM4910J

DIN No.:

00014942

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	L74899DL1985PLC020401	MINDA CORPORATION LIMITED	Director	22/07/1987	22/07/1987	09/04/2011	Active	NO
2	L74899DL1992PLC050333	MINDA INDUSTRIES LIMITED	Managing director	01/04/2013	16/09/1992	-	Active	NO
3	U74899DL1995PTC073692	MINDARIKA PRIVATE LIMITED	Managing director	09/11/1995	09/11/1995	-	Active	NO
4	U23201DL2001PLC111781	MINDA AUTOGAS LTD	Managing director	25/09/2006	24/07/2001	-	Amalgamated	NO
5	U34300DL2003PLC121384	MINDA AUTOMOTIVE LIMITED	Director	18/07/2003	18/07/2003	-	Active	NO
6	U34300DL2004PLC127424	MINDA FIAMM ACOUSTIC LIMITED	Director	07/07/2004	07/07/2004	-	Amalgamated	NO
7	U34300DL2004PLC127423	MINDA ACOUSTIC LIMITED	Director	07/07/2004	07/07/2004	-	Amalgamated	NO
8	U31905DL1981PLC127345	MINDA SAI LIMITED	Director	28/03/2005	28/03/2005	09/04/2011	Active	NO
9	U74899DL2005PTC142456	UNITECH SAI PRIVATE LIMITED	Director	10/11/2005	10/11/2005	-	Active	NO
10	U70109DL2006PTC150012	SHREEAUMJI INFRASTRUCTURE AND PROJECTS PRIVATE LIMITED	Director	22/06/2006	22/06/2006	-	Active	NO
11	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	08/09/2006	08/09/2006	-	Active	NO
12	U45201DL2006PTC144714	SHREEAUMJI REAL ESTATE SEZ PRIVATE LIMITED	Director	28/09/2007	14/11/2006	-	Active	NO
13	U74899DL2006PTC144713	SHREEAUMJI DEVELOPERS SEZ PRIVATE LIMITED	Director	28/09/2007	14/11/2006	-	Active	NO
14	U93090DL2007PLC158964	MINDA INTERNATIONAL LIMITED	Director	17/02/2007	17/02/2007	-	Active	NO
15	U29256DL2007PTC161976	MINDA AUTO LIGHTING PRIVATE LIMITED	Director	09/05/2007	09/05/2007	-	Strike off	NO
16	U31908TN2007PTC081836	VALEO ENGINE AND ELECTRICAL SYSTEMS INDIA PRIVATE LIMITED	Director	06/08/2008	24/07/2007	19/05/2010	Amalgamated	NO
17	U63090DL2008PTC172298	OM MARUBENI LOGISTICS PRIVATE LIMITED	Director	04/01/2008	04/01/2008	-	Under liquidation	NO
18	U34300KA2008PTC047401	TOKAI RIKA MINDA INDIA Private Limited	Director	27/07/2009	25/08/2008	17/07/2013	Active	NO
19	U45400DL2008PLC185619	Minda Realty and Infrastructure Limited	Director	09/06/2010	10/12/2008	-	Active	NO
20	U74900DL2009PLC186740	MINDA MINDPRO LIMITED	Director	16/01/2009	16/01/2009	-	Active	NO
21	U93000DL2009PLC190114	MINDA SPECTRUM ADVISORY LIMITED	Director	08/05/2009	08/05/2009	-	Active	NO
22	U35999DL2010PLC200859	MINDA EMER TECHNOLOGIES LIMITED	Director	29/03/2010	29/03/2010	-	Active	NO
23	L67120DL1985PLC021349	MINDA FINANCE LIMITED	Director	14/07/2010	17/04/2010	-	Active	NO
24	U28900DL2010PLC211731	M J CASTING LIMITED	Director	23/12/2010	23/12/2010	-	Active	NO
25	U28113DL2011PTC212192	FJM CYLINDERS PRIVATE LIMITED	Director	05/01/2011	05/01/2011	-	Active	NO
26	U34300DL2010PTC211292	ROKI Minda Co. Private Limited	Director	05/06/2012	31/01/2011	-	Active	NO
27	U28910TN2011PLC079581	KOSEI MINDA ALUMINUM COMPANY LIMITED	Director	10/03/2011	10/03/2011	-	Active	NO
28	U31900DL2011PLC217478	Minda NexGenTech Limited	Director	09/05/2012	13/04/2011	-	Active	NO
29	U51909DL2011PLC223728	MI TORICA INDIA LIMITED	Director	16/08/2011	16/08/2011	12/07/2013	Active	NO
30	U80903DL2014NPL265371	Suman Nirmal Minda Foundation	Director	25/02/2014	25/02/2014	-	Active	NO

Name :

Mr. Shunkichi Kamiya

Designation :

Director

Address :

42-Shimizukaoka, Yatomi-Cho, Mizuho-Ku, Nagoya, Aichi, Japana, Nagoya – 470038

Date of Appointment :

21.03.2011

DIN No.:

03482173

Name :

Mr. Shizuo Arita

Designation :

Managing Director

Address :

5-8-7, Itsutsugaoka, Aichi Ken, Toyota Shi, 4710814 - Japan

Date of Appointment :

23.01.2013

PAN No.:

ESYPS4356F

DIN No.:

06479293

Name :

Mr. Sudhir Jain

Designation :

Director

Address :

C-14, C. C. Colony, Opposite Rana Pratap Bagh, Delhi – 110058, India

Date of Appointment :

19.07.2014

DIN No.:

00010445

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	U25209DL1996PLC083240	MINDA AUTO COMPONENTS LIMITED	Director	13-11-96	13-11-96	26-11-07	Active	NO
2	U34300DL2003PLC121384	MINDA AUTOMOTIVE LIMITED	Director	18-07-03	18-07-03	05-08-14	Active	NO
3	U34300DL2004PLC127423	MINDA ACOUSTIC LIMITED	Director	07-07-04	07-07-04	-	Amalgamated	NO
4	U34300DL2004PLC127424	MINDA FIAMM ACOUSTIC LIMITED	Director	20-07-04	20-07-04	-	Amalgamated	NO
5	U31908TN2007PTC081836	VALEO ENGINE AND ELECTRICAL SYSTEMS INDIA PRIVATE LIMITED	Additional director	15-03-10	04-07-07	19-05-10	Amalgamated	NO
6	U45400DL2008PLC185619	Minda Realty & Infrastructure Limited	Director	09-06-10	10-12-08	24-07-14	Active	NO
7	U74900DL2009PLC186740	MINDA MINDPRO LIMITED	Director	16-01-09	16-01-09	05-08-14	Active	NO
8	U93000DL2009PLC190114	MINDA SPECTRUM ADVISORY LIMITED.	Director	08-05-09	08-05-09	-	Active	NO
9	U35999DL2010PLC200859	MINDA EMER TECHNOLOGIES LIMITED	Director	29-03-10	29-03-10	-	Active	NO
10	U28900DL2010PLC211731	M J CASTING LIMITED	Director	23-12-10	23-12-10	28-02-11	Active	NO
11	U34300DL2010PTC211292	ROKI Minda Co. Private Limited	Director	05-06-12	31-01-11	-	Active	NO
12	U51909DL2011PLC223728	MI TORICA INDIA LIMITED	Director	16-08-11	16-08-11	05-09-11	Active	NO
13	U35122DL2011PLC223819	MINDA KYORAKU LIMITED	Director	17-08-11	17-08-11	26-09-11	Active	NO
14	U31900DL2011PLC217478	Minda NexGenTech Limited	Director	09-05-12	24-10-11	13-08-14	Active	NO
15	U35900DL2011PTC228383	Minda Batteries Private Limited	Director	07-12-11	07-12-11	13-08-14	Active	NO
16	U34300DL2011PLC227272	MINDA DISTRIBUTION AND SERVICES LIMITED	Director	25-06-12	26-03-12	-	Active	NO
17	U34300KA2008PTC047401	TOKAI RIKA MINDA INDIA Private Limited	Alternate director	23-08-12	23-08-12	29-09-12	Active	NO
18	U35999DL2012FTC238701	FUJITSU TEN MINDA INDIA PRIVATE LIMITED	Alternate director	22-11-12	22-11-12	29-03-13	Active	NO
19	U28111RJ2008PTC026385	TOYODA GOSEI MINDA INDIA PRIVATE LIMITED	Director	10-09-13	24-11-12	18-06-14	Active	NO
20	U29219DL2013PTC248215	Minda Nabtesco Automotive Private Limited	Director	12-02-13	12-02-13	10-06-14	Active	NO
21	U28910TN2011PTC079581	KOSEI MINDA ALUMINUM COMPANY Private Limited	Director	19-07-14	07-12-13	-	Active	NO

Name :

Mr. Naoyuki Goto

Designation :

Whole Time Director

Address :

4-2-36-1608,Kawaguchi, Kawaguchishi, Saitama Japan, 3320023

Date of Appointment :

7.12.2013

DIN No.:

06718756

KEY EXECUTIVES

Name :	Mr. S. Sangeetha
Designation :	Secretary
Address :	J.14, Vinayagar Kovil Street, MMDA Colony, Arumbakkam, Chennai – 600106, Tamilnadu, India
Date of Appointment :	07.01.2013
PAN No.:	BWZPS2975N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.07.2014

Names of Shareholders	No. of Shares
Nirmal K. Minda	9400
Sudhir Jain	100
Harish Chander Dhamija	100
Vikas Jain	100
Praveen Juneja	100
Debadas Panda	100
Eden Motors Limited, India	20000
SBR Auto Components Limited, India	20000
Kosei International Trade and Investment Company Limited, Hong Kong	38212586
Minda Investments Limited, India	24508800
Kosei Aluminum (Thailand) Company Limited, Thailand	19091280
Mr. Atul Jain	100
Total	81862666

As on 19.07.2014

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	70.00
Bodies corporate	29.94
Directors or relatives of Directors	0.01
Other top fifty shareholders	0.05
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the manufacture, development and sale of aluminum wheels and other accessories / parts for automobile industry.
Products :	v Aluminum Wheels
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Not Divulged

Bankers :

Not Divulged

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Borrowing from foreign companies	560.266	339.267
Long-term maturities of finance lease obligations	4.278	0.000
Total	564.544	339.267

Auditors :
Name :	Chartered Accountant
Address :	6th and 7th Floor, A Block, Tidel Park (Module 601,701 and 702) No4, Rajiv Gandhi Salai Taramani , Chennai-600113, Tamilnadu, India
PAN No.:	ACHFS9118A
Ultimate Holding company :	Kosei Aluminum Company Limited, Japan
Holding company :	Kosei International Trade and Investment Company Limited, Hong Kong
Fellow Subsidiary company :	Kosei Aluminum (Thailand) Company Limited, Thailand
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Minda Industries Limited L74899DL1992PLC050333 Minda Investments Limited U74899DL1994PLC063761 Mindarika Private Limited U74899DL1995PTC073692 Minda Finance Limited L67120DL1985PLC021349 Minda Projects Limited U74300DL1996PLC083437 Sheetal Farms Limited U01400DL1987PLC236241

CAPITAL STRUCTURE

As on 19.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
95000000	Equity Shares	Rs.10/- each	Rs. 950.000 Millions

Isued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
81862666	Equity Shares	Rs.10/- each	Rs. 818.626 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	818.626	775.000	325.000
(b) Reserves & Surplus	(453.481)	(207.344)	(30.555)
(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)	365.145	567.656	294.445
(3) Non-Current Liabilities
(a) long-term borrowings	564.544	339.267	0.000
(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	1.825	1.075	0.401
Total Non-current Liabilities (3)	566.369	340.342	0.401
(4) Current Liabilities
(a) Short term borrowings	135.462	87.975	30.000
(b) Trade payables	297.648	123.608	27.755
(c) Other current liabilities	121.240	32.478	373.288
(d) Short-term provisions	6.142	6.135	0.000
Total Current Liabilities (4)	560.492	250.196	431.043
TOTAL	1492.006	1158.194	725.889
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1132.505	902.934	110.936
(ii) Intangible Assets	0.344	0.289	0.000
(iii) Capital work-in-progress	4.689	41.846	532.097
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	10.899	13.452	30.520
(e) Other Non-current assets	18.453	24.346	14.261
Total Non-Current Assets	1166.890	982.867	687.814
(2) Current assets
(a) Current investments	2.500	0.000	0.000
(b) Inventories	75.522	60.264	6.460
(c) Trade receivables	158.490	57.391	0.000
(d) Cash and cash equivalents	0.826	10.689	25.671
(e) Short-term loans and advances	87.778	46.983	5.944
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	325.116	175.327	38.075
TOTAL	1492.006	1158.194	725.889

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	672.769	109.678	0.000
		Other Income	3.458	14.469	0.000
		TOTAL	676.227	124.147	0.000
Less	EXPENSES
		Cost of Materials Consumed		103.815
		Purchase of Stock-in-trade		0.724
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(16.670)
		Employee Benefits Expenses		47.790
		Other Expenses		129.834
		Prior Period Items		0.535
		TOTAL	922.364	266.028	29.985
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(Including Financial Depreciation and Expense)	(141.882)
Less	FINANCIAL EXPENSES (D)			10.883
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			(152.765)
Less	DEPRECIATION/ AMORTISATION (F)			24.023
	PROFIT BEFORE TAX		(246.137)	(176.788)	(29.985)
Less	TAX		0.000	0.000	0.570
	PROFIT AFTER TAX		(246.137)	(176.788)	(30.555)
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	93.012	107.987	0.000
	TOTAL EARNINGS		93.012	107.987	0.000
	IMPORTS
		Raw Materials and Packing material	0.000	87.280	6.030
		Spares and Consumables	11.219	10.210	1.243
		Capital Goods	111.334	54.274	330.571
		Purchase of Traded goods	7.265	0.619	0.000
		Others	29.251	17.063	0.979
	TOTAL IMPORTS		159.069	169.446	338.823
	Earnings Per Share (Rs.)		1.94	2.07	4.14

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(36.59)	(357.64)	NA
Operating Profit Margin (PBITD/Sales)	(%)	(36.59)	(128.87)	NA
Return on Total Assets (PBT/Total Assets}	(%)	(16.55)	(35.14)	(15.47)
Return on Investment (ROI) (PBT/Networth)		(0.67)	(0.69)	(0.10)
Debt Equity Ratio (Total Debt /Networth)		1.92	0.75	0.10
Current Ratio (Current Asset/Current Liability)		0.58	0.70	0.09

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	325.000	775.000	818.626
Reserves & Surplus	(30.555)	(207.344)	(453.481)
Net worth	294.445	567.656	365.145
long-term borrowings	0.000	339.267	564.544
Short term borrowings	30.000	87.975	135.462
Total borrowings	30.000	427.242	700.006
Debt/Equity ratio	0.102	0.753	1.917

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	109.678	672.769
		513.404

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)
Sales	109.678	672.769
Profit	(176.788)	(246.137)
	(161.19%)	(36.59%)

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	No
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

Note : Registered office of the company has been shifted from Plot No.20/A and A/B, SIPCOT Industrial Growth Center, Oragadam Extension Scheme, RNS Park, Village Vadakkupattu, Sriperubudur Taluk – 603204, Tamilnadu to the old present address w.e.f 18.04.2012.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Working capital loans from banks	135.462	87.975
Interoperate borrowings	0.000	0.000
Total	135.462	87.975

.

NO CHARGES EXIST FOR COMPANY 

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. 62.44
UK Pound	1	Rs. 98.15
Euro	1	Rs. 77.38

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUM
Report Prepared by :	ANU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--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		26

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.