MIRA INFORM REPORT

Report Date :

15.02.2014

IDENTIFICATION DETAILS

Name :	JTEKT SONA AUTOMOTIVE INDIA LIMITED
Registered Office :	UGF-6, Indra Prakash, 21 Barakhamba Road, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	11.07.2007
Com. Reg. No.:	55-165741
Capital Investment/ Paid-up Capital:	Rs.566.900 Millions
CIN No.: [Company Identification No.]	U29268DL2007PLC165741
TAN No.: [Tax Deduction & Collection Account No.]	DELJ06865F
PAN No.: [Permanent Account No.]	AABCJ8647G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Power Steering System.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 4000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company appears to be fair. General financial position of the company seems to be sound and healthy. 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 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

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 31-03-2012.

INFORMATION DENIED BY

Name :	Ms. Manjari Mishra
Designation :	Company Secretary
Contact No.:	91-11-23311924
Date :	14.02.2014

LOCATIONS

Registered Office :	UGF-6, Indra Prakash, 21 Barakhamba Road, New Delhi-110001, India
Tel. No.:	91-11-23311924 / 23327205
Fax No.:	Not Available
E-Mail :	satinder.singh@jsai.co.in raajesh.gupta@sonagroup.com sarita.sachdev@sonagroup.com
Website :	www.sonagroup.com
Corporate Office :	8^th Floor, DLF Square Jacaranda Marg, M Block, DLF City, Phase-II, Gurgaon – 122 002, Haryana, India
Tel. No.:	91-124-4104641-44
Fax No.:	91-124-4104645
Factory :	Plot No.26, Sector-5, Phase-II, Growth Centre, Bawal, Rewari – 123 501, Haryana, India
Tel. No.:	91-128-4264114-116
Fax No.:	91-128-4264456

DIRECTORS

AS ON 30.07.2013

Name :

Dr. Surinder Kapur

Designation :

Managing Director

Address :

No.11, The Greens, Rajokari, New Delhi-110038, India

Date of Birth/Age :

10.11.1943

Date of Appointment :

01.01.2013

DIN No. :

00062481

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	L29113DL1984PLC018415	SONA KOYO STEERING SYSTEMS LIMITED	Whole-time director	28/09/2012	14/06/1984	-	Active	NO
2	L26102DL1984PLC019542	ASAHI INDIA GLASS LIMITED	Director	24/12/1988	24/12/1988	-	Active	NO
3	U74899DL1993PLC054930	SOMIC ZF COMPONENTS LIMITED	Director	25/04/2012	20/08/1993	18/04/2013	Active	NO
4	U30007MH1994PLC081637	MAHINDRA SONA LIMITED	Director	30/09/1994	30/09/1994	-	Active	NO
5	U27300DL1995PLC073456	SONA BLW PRECISION FORGINGS LIMITED	Director	27/10/1995	27/10/1995	-	Active	NO
6	L92114DL1976PLC008355	COSMO FILMS LIMITED	Director	21/10/2000	21/10/2000	17/10/2013	Active	NO
7	U65993DL2001PTC110205	ZF COMPONENTS INVESTMENT PRIVATE LIMITED	Director	28/03/2001	28/03/2001	14/03/2013	Active	NO
8	L99999MH1922PLC000987	GREAVES COTTON LIMITED	Director	27/10/2003	27/10/2003	18/02/2009	Active	NO
9	U74140DL2005PTC138636	DRSK MANAGEMENT SERVICES PRIVATE LIMITED	Director	13/07/2005	13/07/2005	-	Amalgamated	NO
10	U63040DL2005PLC143195	WHEELS MOBILITY SOLUTIONS LIMITED	Director	31/05/2007	06/10/2006	20/10/2008	Active	NO
11	U74899DL1982PTC013139	SONA AUTOCOMP HOLDING PRIVATE LIMITED	Director	10/07/2007	31/01/2007	-	Active	NO
12	U29268DL2007PLC165741	JTEKT SONA AUTOMOTIVE INDIA LIMITED	Managing director	01/01/2013	11/07/2007	-	Active	NO
13	U35122DL2007PTC166497	Koyo Electronics India Private Limited	Director	29/09/2008	01/08/2007	14/11/2013	Active	NO
14	U35122DL2007PLC166496	SONA FUJI KIKO AUTOMOTIVE LIMITED	Director	01/08/2007	01/08/2007	-	Active	NO
15	U29130PN2007FTC131036	AAM Pantnagar Axle Private Limited	Director	24/03/2009	11/01/2008	01/09/2009	Active	NO
16	U45201DL2003PLC123512	AKME PROJECTS LIMITED	Director	30/09/2008	05/02/2008	-	Active	NO
17	U67120MH1991PTC060720	SEALAND INVESTMENTS PRIVATE LIMITED	Director	29/09/2009	24/12/2008	-	Amalgamated	NO
18	U67120DL1991PTC259680	RAGHUVANSHI INVESTMENT PRIVATE LIMITED	Director	29/09/2009	24/12/2008	-	Active	NO
19	U74999PN2010PTC147690	redi India Quality Services Private Limited	Director	01/11/2011	13/05/2010	12/06/2012	Active	NO
20	U80302HR2010PLC040946	SONA SKILL DEVELOPMENT CENTRE LIMITED	Director	23/07/2010	23/07/2010	01/11/2011	Active	NO
21	U35999DL2011PLC226008	MANDIRA MARKETING LIMITED	Director	10/10/2011	10/10/2011	03/02/2012	Active	NO

Name :

Mr. Keiichi Sakamoto

Designation :

Whole Time Director

Address :

7-13, Shikginaoka 2 Chome, Sangochoun, Ikoma Nara Japan 63601813

Date of Birth/Age :

01.01.1958

Date of Appointment :

30.07.2012

Din No.:

05182210

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	U29268DL2007PLC165741	JTEKT SONA AUTOMOTIVE INDIA LIMITED	Whole-time director	30/07/2012	30/01/2012	-	Active	NO
2	L29113DL1984PLC018415	SONA KOYO STEERING SYSTEMS LIMITED	Alternate director	15/05/2013	15/05/2013	10/08/2013	Active	NO

Name :

Mr. Sunjay Kapur

Designation :

Director appointed in casual vacancy

Address :

House No.9, Grand Pradi Apartments, A K Marg, Mumbai – 400 036, Maharashtra, India

Date of Birth/Age :

05.10.1971

Date of Appointment :

06.06.2013

Din No.:

00145529

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	U74899DL1993PLC054930	SOMIC ZF COMPONENTS LIMITED	Director	11/04/2007	03/09/1993	12/06/2007	Active	NO
2	U67120MH1991PTC060720	SEALAND INVESTMENTS PRIVATE LIMITED	Director	27/01/1995	27/01/1995	08/08/2008	Amalgamated	NO
3	U67120DL1991PTC259680	RAGHUVANSHI INVESTMENT PRIVATE LIMITED	Director	27/01/1995	27/01/1995	08/08/2008	Active	NO
4	U72200DL1996PLC083811	SONA E-DESIGN AND TECHNOLOGIES LIMITED	Director	01/03/1997	01/03/1997	-	Active	NO
5	U74899DL1982PTC013139	SONA AUTOCOMP HOLDING PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO
6	L29113DL1984PLC018415	SONA KOYO STEERING SYSTEMS LIMITED	Managing director	22/10/2011	12/04/2004	-	Active	NO
7	U74999DL2003PTC121520	EQUISPORT MANAGEMENT PRIVATE LIMITED	Director	01/05/2005	01/05/2005	15/06/2012	Active	NO
8	U63040DL2005PLC143195	WHEELS MOBILITY SOLUTIONS LIMITED	Director	20/10/2008	02/12/2005	19/08/2011	Active	NO
9	U27300DL1995PLC073456	SONA BLW PRECISION FORGINGS LIMITED	Director	10/07/2007	22/08/2006	-	Active	NO
10	U51101DL1993PLC055713	SONA MANAGEMENT SERVICES LIMITED	Director	31/03/2009	15/04/2008	29/03/2010	Active	NO
11	U45400DL2007PTC167548	IndiaWorld Technologies Private Limited	Director	15/04/2010	28/06/2008	22/07/2010	Active	NO
12	U74899DL1981PTC012845	B R S FINANCE AND INVESTMENT COMPANY PRIVATE LIMITED	Director	04/08/2011	27/01/2011	-	Active	NO
13	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	05/09/2012	05/09/2012	-	Active	NO
14	U29268DL2007PLC165741	JTEKT SONA AUTOMOTIVE INDIA LIMITED	Director appointed in casual vacancy	06/06/2013	06/06/2013	-	Active	NO
15	U35122DL2007PLC166496	SONA FUJI KIKO AUTOMOTIVE LIMITED	Director	29/07/2013	07/06/2013	-	Active	NO

Name :

Mr. Seiho Kawakami

Designation :

Director

Address :

31-21-, 5 Chome, Suigen –CHO, Toyota- SHI, Japan

Date of Birth/Age :

23.12.1953

Date of Appointment :

30.07.2012

Din No.:

03621026

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	Company/ LLP Status	Defaulting status
1	U29268DL2007PLC165741	JTEKT SONA AUTOMOTIVE INDIA LIMITED	Director	30/07/2012	14/09/2011	Active	NO

Name :

Mr. Shamsher Singh Mehta

Designation :

Additional Director

Address :

T-16, Harmitage Florida Estate, Keshav Nagar, Mundhwa, Pune – 411028, Maharashtra, India

Date of Birth/Age :

20.01.1944

Date of Appointment :

30.07.2013

Din No.:

02201929

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	L29113DL1984PLC018415	SONA KOYO STEERING SYSTEMS LIMITED	Director	18/07/2008	30/04/2008	-	Active	NO
2	U65999MH2008PTC178870	AEGON TRUSTEE COMPANY PRIVATE LIMITED	Additional director	04/07/2008	04/07/2008	19/11/2008	Amalgamated	NO
3	U65991MH2005PTC153638	RELIGARE INVESCO TRUSTEE COMPANY PRIVATE LIMITED	Director	30/09/2009	04/12/2008	-	Active	NO
4	U74140KA1996ULT068492	Altran Technologies India Private Limited	Director	05/01/2012	06/01/2009	31/12/2012	Active	NO
5	U72200DL1996PLC083811	SONA E-DESIGN AND TECHNOLOGIES LIMITED	Director	30/09/2009	02/02/2009	13/12/2010	Active	NO
6	U29268DL2007PLC165741	JTEKT SONA AUTOMOTIVE INDIA LIMITED	Director	30/07/2013	30/07/2012	-	Active	NO
7	U66000DL2007PLC161503	RELIGARE HEALTH INSURANCE COMPANY LIMITED	Director	12/07/2013	29/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Manjari Mishra
Designation :	Company Secretary
Address :	MIG 471, Metro View Apartments, Sector 13, Pocket B, Dwarka, New Delhi-110075, India
Date of Birth/Age :	19.11.1975
Date of Appointment :	20.04.2011
Pan No.:	APEPM5922N

MAJOR SHAREHOLDERS

AS ON 30.07.2013

Names of Shareholders	No. of Shares	% of Holding
Surinder Kapur	2	0.00
Kiran Manohar Deshmukh	1	0.00
Sudhir Chopra	1	0.00
Sona Koyo Steering Systems Limited, India	27778094	49.00
JTEKT Corporation, Japan	28911898	51.00
Raghuvanshi Investment Private Limited, India	2	0.00
Seiho Kawakami	1	0.00
Keiichi Sakamoto	1	0.00
Total	56,690,000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.07.2013

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	51.00
Bodies corporate	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Power Steering System.

Products :

Product Description	Item Code
Steering Wheels, Steering Columns, Steering Boxes and parts	8708

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	7^th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase - II, Gurgaon – 122 002, New Delhi, India
PAN No.:	AABFD2095B
Associate Company :	· PT JTEKT Indonesia
Holding Company :	· Sona Koyo Steering Systems Limited · JTEKT Corporation, Japan
Fellow Subsidiaries :	· Sona Stampings Limited · Sona Fuji kiko Automotive Limited · Koyo Singapore Bearing (PTE) Limited · Koyo Bearings India Private Limited

CAPITAL STRUCTURE

AS ON 30.07.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
60000000	Equity Shares	Rs.10/- each	Rs.600.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
56690000	Equity Shares	Rs.10/- each	Rs.566.900 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	566.900	566.900	566.900
(b) Reserves & Surplus	455.327	302.727	92.295
(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)	1022.227	869.627	659.195
(3) Non-Current Liabilities
(a) long-term borrowings	350.625	692.926	753.123
(b) Deferred tax liabilities (Net)	87.663	58.636	71.391
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.947	5.975	3.864
Total Non-current Liabilities (3)	445.235	757.537	828.378
(4) Current Liabilities
(a) Short term borrowings	176.000	179.009	266.912
(b) Trade payables	624.194	475.992	556.160
(c) Other current liabilities	494.925	234.563	92.612
(d) Short-term provisions	7.698	5.672	31.481
Total Current Liabilities (4)	1302.817	895.236	947.165
TOTAL	2770.279	2522.400	2434.738
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1,392.742	1,336.357	1,253.820
(ii) Intangible Assets	89.749	51.875	31.672
(iii) Capital work-in-progress	2.531	4.675	0.976
(iv) Intangible assets under development	0.576	23.985	0.662
(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	56.179	44.450	5.736
(e) Other Non-current assets	2.000	2.000	3.550
Total Non-Current Assets	1543.777	1463.342	1296.416
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	240.138	178.704	239.772
(c) Trade receivables	878.769	652.081	613.783
(d) Cash and cash equivalents	9.600	110.314	103.979
(e) Short-term loans and advances	97.628	96.144	180.294
(f) Other current assets	0.367	21.815	0.494
Total Current Assets	1226.502	1059.058	1138.322
TOTAL	2770.279	2522.400	2434.738

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	4,660.669	3,802.693	2,247.066
	Other Income	2.317	1.710	0.830
	TOTAL	4662.986	3804.403	2247.896
Less	EXPENSES
	Cost of Materials Consumed	3096.476	2400.142	1503.324
	Purchases of Stock-in-Trade	735.773	452.876	176.812
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(27.214)	24.134	(70.794)
	Employees benefits expense	121.825	106.291	72.831
	Other expenses	319.201	351.437	211.361
	TOTAL	4246.061	3334.880	1893.534
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	416.925	469.523	354.362
Less	FINANCIAL EXPENSES	58.913	96.551	81.460
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	358.012	372.972	272.902
Less/ Add	DEPRECIATION/ AMORTISATION	126.576	112.399	69.633
	PROFIT/ (LOSS) BEFORE TAX	231.436	260.573	203.269
Less	TAX	78.834	50.140	107.820
	PROFIT/ (LOSS) AFTER TAX	152.602	210.433	95.449
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	302.727	92.294	3.155
	Balance Carried to the B/S	455.329	302.727	92.294
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	5.274	8.683	3.273
	TOTAL EARNINGS	5.274	8.683	3.273
	IMPORTS
	Raw Materials	689.306	640.094	0.000
	Capital Goods	112.191	129.331	0.000
	TOTAL IMPORTS	801.497	769.425	0.000
	Earnings / (Loss) Per Share (Rs.)	2.690	3.710	1.680

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	3.27	5.53	4.25
Net Profit Margin (PBT/Sales)	(%)	4.97	6.85	9.05
Return on Total Assets (PBT/Total Assets}	(%)	8.36	10.45	8.35
Return on Investment (ROI) (PBT/Networth)		0.23	0.30	0.31
Debt Equity Ratio (Total Debt /Networth)		0.52	1.00	1.55
Current Ratio (Current Asset/Current Liability)		0.94	1.18	1.20

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	566.900	566.900	566.900
Reserves & Surplus	92.295	302.727	455.327
Net worth	659.195	869.627	1,022.227
long-term borrowings	753.123	692.926	350.625
Short term borrowings	266.912	179.009	176.000
Total borrowings	1,020.035	871.935	526.625
Debt/Equity ratio	1.547	1.003	0.515

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	2,247.066	3,802.693	4,660.669
		69.229	22.562

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	2,247.066	3,802.693	4,660.669
Profit	95.449	210.433	152.602
	4.25%	5.53%	3.27%

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	No
10]	Designation of contact person	No
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	No
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

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term Loans from Banks	350.625	692.926
Short Term Borrowings
Working Capital Loans from Banks	176.000	179.009
Total	526.625	871.935

NOTE: No Charges Exist for Company.

FIXED ASSETS:

· Land

· Electric Installation

· Furniture and Fixtures

· Office Equipments

· Computers and Peripherals

· Plant and machinery

· Jigs and Fixtures

· Vehicle

· 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.62.28
UK Pound	1	Rs.103.67
Euro	1	Rs.85.18

INFORMATION DETAILS

Report Prepared by :

NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	NO
--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		45

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.