1. Summary Information

		Country	India
Company Name	OEN INDIA LIMITED	Principal Name 1	Pamela Anna Mathew
Status	Good	Principal Name 2	Sarah Mathew
		Registration #	09-002169
Street Address	29/1479, P B No. 1952, Vyttila, Ernakulam - 682019, Kerala, India
Established Date	08.03.1968	SIC Code	--
Telephone#	91-484-2301132	Business Style 1	Manufacturer
Fax #	91-484-2302287	Business Style 2	Dealer
Homepage	www.oenindia.com	Product Name 1	Electromechanical Relays
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 50,992,600/-	Product Name 3	--
Shareholders	Government Companies – 25% Foreign holdings – 4.54% Bodies corporate – 0.10% Directors or relatives of Directors – 49.40% Other top fifty shareholders – 20.96%	Banking	Bank of India
Public Limited Corp.	No	Business Period	46 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (52)
Related Company
Relation	Country	Company Name	CEO
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	India	Prima Components Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	196,938,000	Current Liabilities	105,425,000
Inventories	159,698,000	Long-term Liabilities	14,315,000
Fixed Assets	355,682,000	Other Liabilities	68,708,000
Deferred Assets	0,000	Total Liabilities	188,448,000
Invest& other Assets	192,653,000	Retained Earnings	665,530,000
		Net Worth	716,523,000
Total Assets	904,971,000	Total Liab. & Equity	904,971,000
Total Assets (Previous Year)	849,446,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	844,706,000	Net Profit	94.414.000
Sales(Previous yr)	896,199,000	Net Profit(Prev.yr)	105,710,000

MIRA INFORM REPORT

Report Date :

03.01.2014

IDENTIFICATION DETAILS

Name :	OEN INDIA LIMITED
Registered Office :	29/1479, P B No. 1952, Vyttila, Ernakulam - 682019, Kerala
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	08.03.1968
Com. Reg. No.:	09-002169
Capital Investment / Paid-up Capital :	Rs. 50.993 Millions
CIN No.: [Company Identification No.]	U31200KL1968PLC002169
TAN No.: [Tax Deduction & Collection Account No.]	CHNO00054F
PAN No.: [Permanent Account No.]	AAACO2007Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Dealer of Electromechanical Relays.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 2870000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is an established company having fine track record. Profitability of the company appears to be decent. Net worth of the company seems to be strong and healthy. Trade relations are reported to be fair. Business is active. Payment terms are regular and as per commitments. The company can be considered for business dealing 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, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

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.

LOCATIONS

Registered Office :	29/1479, P B No. 1952, Vyttila, Ernakulam-682019, Kerala, India
Tel. No.:	91-484-2301132 / 2303709 / 2302483 / 3014120 / 3053657
Fax No.:	91-484-2302287 / 2302221 / 2302211
E-Mail :	sales@oenindia.com oenindia@vsnl.com sec@oenindia.com
Website:	www.oenindia.com
Factory :	Electrogiri, Post Box No. 1, Mulanthuruthy, Cochin - 682314, Kerala, India
Tel. No.:	91-484-3053600/ 2711321 to 2711328
Fax No.:	91-484-2711891

DIRECTORS

As on 29.09.2012

Name :

Pamela Anna Mathew

Designation :

Managing Director

Address :

Oen House, P.B. No. 1952, Vyttila Cochin, Ernakulam - 682019, Kerala, India

Date of Birth/Age :

24.02.1950

Qualification:

Degree

Date of Appointment :

10.12.2008

PAN No.:

AGTPM9013G

DIN No.:

00742735

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	U29299KL1990PTC005858	O/E/N ELECTROCOM PRIVATE LIMITED	Director	16/11/1990	16/11/1990	10/01/2009	Active	NO
2	U31200KL1968PLC002169	O E N INDIA LIMITED	Managing director	10/12/2013	10/12/1998	-	Active	NO

Name :

Sarah Mathew

Designation :

Director

Address :

Oen House, P.B. No. 1952, Vyttila Cochin, Ernakulam - 682019, Kerala, India

Date of Birth/Age :

06.02.1928

Date of Appointment :

27.10.1973

PAN No.:

AHTPM2441D

DIN No.:

00007265

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	U31200KL1968PLC002169	O E N INDIA LIMITED	Director	27/10/1973	27/10/1973	-	Active	NO
2	U32104KL1981PLC003348	FCI OEN CONNECTORS LIMITED	Director	02/06/1981	02/06/1981	26/10/2010	Active	NO
3	U29299KL1990PTC005858	O/E/N ELECTROCOM PRIVATE LIMITED	Director	16/11/1990	16/11/1990	10/01/2009	Active	NO
4	U31200KL1978PLC002997	PRIMA COMPONENTS LIMITED	Director	30/09/1996	30/09/1996	-	Active	NO

Name :

Daniel Babu Paul

Designation :

Director

Address :

Cheerothottam, Kowdiar, Trivandrum - 695009, Kerala, India

Date of Birth/Age :

19.04.1941

Qualification:

Degree

Date of Appointment :

29.09.2004

DIN No.:

00103047

Name :

Venu Nallur

Designation :

Director

Address :

Nallur House, House No. III/176-C, Shanthigram Road, Off Pulickillam West Road, Cochin, Ernakulam - 682020, Kerala, India

Date of Birth/Age :

15.08.1948

Qualification:

Degree

Date of Appointment :

01.04.2000

DIN No.:

00004873

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	U31200KL1968PLC002169	O E N INDIA LIMITED	Nominee director	01/04/2000	01/04/2000	-	Active	NO
2	U74140KL1972PLC002425	KITCO LIMITED	Nominee director	12/12/2000	12/12/2000	-	Active	NO
3	L24299KL1975PLC002691	NITTA GELATIN INDIA LIMITED	Director	15/07/2004	15/07/2004	03/04/2013	Active	NO
4	L24299KL1989PLC005452	COCHIN MINERALS AND RUTILE LTD	Director	05/09/2005	05/09/2005	17/12/2011	Active	NO

Name :

Sunela Sarah Thomas

Designation :

Director

Address :

931 Pine Burst Drive, Allen, Texas 75013, Texas

Date of Birth/Age :

16.06.1961

Date of Appointment :

29.09.2007

PAN No.:

ANWPM6252B

DIN No.:

01673840

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	U31200KL1968PLC002169	O E N INDIA LIMITED	Director	29/09/2007	20/08/2007	-	Active	NO

Name :

Thomas Thomas

Designation :

Director

Address :

28/1058, Prashanthe, Indira Nagar, Cochin, Ernakulam - 682020, Kerala, India

Date of Birth/Age :

07.09.1946

Date of Appointment :

24.06.2011

DIN No.:

00743978

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	U74140KL1993PTC006981	MAHAN MANAGEMENT SERVICES PRIVATE LIMITED	Director	09/02/1993	09/02/1993	Dissolved	NO
2	U31200KL1968PLC002169	O E N INDIA LIMITED	Alternate director	27/09/2013	20/12/2008	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Government Companies	25.00
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	4.54
Bodies corporate	0.10
Directors or relatives of Directors	49.40
Other top fifty shareholders	20.96
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Dealer of Electromechanical Relays.

Products :

Item Code No. (ITC Code)	Product Description
85364100	Relays
85365090	Switches

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Bank of India, M.G. Road, (Ernakulam) Branch, 35/1301-2, First Floor, Collis Estate, Ernakulam, Kochi-682016, Kerala, India

Banking Relations :	--
Auditors :
Name :	Varma and Varma Chartered Accountants
Address :	Nettipadam Road, Ernakulam, Kerala, India
Income-tax PAN of auditor or auditor's firm :	AABFV9555E
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· R Engineering, India Prima Components Limited, India

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5099260	Equity Shares	Rs.10/- each	Rs. 50.993 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	50.993	50.993
(b) Reserves & Surplus	665.530	580.064
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	716.523	631.057
(3) Non-Current Liabilities
(a) long-term borrowings	8.769	13.219
(b) Deferred tax liabilities (Net)	13.806	20.025
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	18.444	14.507
Total Non-current Liabilities (3)	41.019	47.751
(4) Current Liabilities
(a) Short term borrowings	5.546	7.756
(b) Trade payables	58.399	71.687
(c) Other current liabilities	33.220	23.700
(d) Short-term provisions	50.264	67.495
Total Current Liabilities (4)	147.429	170.638
TOTAL	904.971	849.446
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	353.640	285.623
(ii) Intangible Assets	2.042	0.999
(iii) Capital work-in-progress	23.764	10.699
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	78.937	82.591
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	7.100	7.005
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	465.483	386.917
(2) Current assets
(a) Current investments	89.952	60.300
(b) Inventories	159.698	161.382
(c) Trade receivables	149.740	165.682
(d) Cash and cash equivalents	6.886	39.552
(e) Short-term loans and advances	31.495	32.218
(f) Other current assets	1.717	3.395
Total Current Assets	439.488	462.529
TOTAL	904.971	849.446

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		50.993
2] Share Application Money		0.000
3] Reserves & Surplus		483.244
4] (Accumulated Losses)		0.000
NETWORTH		534.237
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		23.804
TOTAL BORROWING		23.804
DEFERRED TAX LIABILITIES		23.152
TOTAL		581.193
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		276.654
Capital work-in-progress		9.449
INVESTMENT		95.347
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	154.556
	Sundry Debtors	96.085
	Cash & Bank Balances	33.639
	Other Current Assets	24.864
	Loans & Advances	76.677
Total Current Assets		385.821
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	61.619
	Other Current Liabilities	9.823
	Provisions	114.636
Total Current Liabilities		186.078
Net Current Assets		199.743
MISCELLANEOUS EXPENSES		0.000
TOTAL		581.193

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Revenue from operations	844.706	896.199
		Other Income	42.747	36.794
		TOTAL (A)	887.453	932.993
Less	EXPENSES
		Cost of materials consumed	381.172	398.430
		Purchases of stock-in-trade	53.450	47.053
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	1.130	(8.256)
		Employee benefit expense	179.630	191.424
		Other expenses	108.650	113.016
		Exceptional items	(11.855)	(9.627)
		TOTAL (B)	712.177	732.040
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		175.276	200.953
Less	FINANCIAL EXPENSES (D)		3.740	3.080
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		171.536	197.873
Less/ Add	DEPRECIATION/ AMORTISATION (F)		45.518	43.246
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		126.018	154.627
Less	TAX (H)		31.604	48.917
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		94.414	105.710
	EARNINGS IN FOREIGN CURRENCY
		Export of goods	24.008	20.955
		FOB basis Job Charges	5.475	15.381
		Commission	0.156	0.652
	TOTAL EARNINGS		29.639	36.988
	IMPORTS
		Raw Materials and Components	248.259	249.100
		Spares	1.087	0.123
		Capital Goods	13.095	18.223
		Stock in Trade	44.213	39.508
	TOTAL IMPORTS		306.654	306.954
	Earnings / (Loss) Per Share (Rs.)		18.52	20.73

	PARTICULARS		31.03.2011
	SALES
		Income	754.251
		Other Income	73.817
		TOTAL (A)	828.068
Less	EXPENSES
		Consumption Materials Changes Inventories	380.949
		Manufacturing Service Costs	3.779
		Employee Related Expenses	168.639
		Administrative Selling Other Expenses	80.830
		TOTAL (B)	634.197
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		193.871
Less	FINANCIAL EXPENSES (D)		2.789
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		191.082
Less/ Add	DEPRECIATION/ AMORTISATION (F)		39.593
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		151.489
Less	TAX (H)		43.089
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		108.400
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	NA
		Job Charges	NA
		Others	NA
	TOTAL EARNINGS		NA
	IMPORTS
		Raw Materials and Components	NA
		Spares	NA
		Capital Goods	NA
		Stock in Trade	NA
	TOTAL IMPORTS		NA
	Earnings / (Loss) Per Share (Rs.)		21.26

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	10.64	11.33	13.09
Net Profit Margin (PBT/Sales)	(%)	14.92	17.25	20.08
Return on Total Assets (PBT/Total Assets}	(%)	15.71	20.45	22.87
Return on Investment (ROI) (PBT/Networth)		0.18	0.25	0.28
Debt Equity Ratio (Total Debt/Networth)		0.02	0.03	0.04
Current Ratio (Current Asset/Current Liability)		2.98	2.71	2.07

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	Yes
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	No

LITIGATION DETAILS

KERALA HIGH COURT
CASE STATUS INFORMATION SYSTEM

Case Status         :  PENDING

Status of          CENTRAL EXICISE APPE  12        of    2009           

THE COMMISSIONER OF CENTRAL EXCISE                 Vs.                  M/S.OEN INDIA LIMITED

Pet's Adv.            :   SRI.TOJAN J.VATHIKULAM,SC         

Res's Adv.           :       

Last Listed On :     06 March 2009     

Category             :   Central Excise Appeal

CONNECTED APPLICATION (S)	CONNECTED MATTER (S)
IA     2888    of   2012	No Connected Matter

Case Updated on:   17 November 2010

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90022435	12/03/1999	15,000,000.00	BANK OF INDIA	M. G. ROAD, COCHIN - 686016, KERALA, INDIA	-
2	90022380	29/06/1998	30,000,000.00	CENTURION BANK LIMITED	CHOICE TOWERS, MANORAMA JUNCTION, COCHIN - 682016, KERALA, INDIA	-
3	90021645	16/01/1990 *	12,000,000.00	BANK OF INDIA	M. G. ROAD, COCHIN - 686016, KERALA, INDIA	-
4	90021613	15/12/1983	1,000,000.00	BANK OF INDIA	M. G. ROAD, COCHIN - 686016, KERALA, INDIA	-
5	90020896	01/04/1983 *	7,500,000.00	BANK OF INDIA	M. G. ROAD, COCHIN - 686016, KERALA, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Deposits from directors	1.260	1.810
Deposits from others	7.509	11.409
SHORT TERM BORROWINGS
Deposits from directors	5.000	5.000
Deposits from others	0.546	2.756
Total	14.315	20.975

OPERATIONS:

The financial year 2012-13 was not smooth sailing for the economy. Depressed market conditions continued. Demand remained subdued. The slow down of the Indian economy last year was precipitous. Growth was much below the 9.7% GDP level they achieved a few years back. Policy paralysis, tight monetary policy, high retail inflation, drop in investment in infrastructure, weakening of macro fundamentals slowed the India growth story. Reduction in interest rate is needed to stimulate demand but RBI is in no position to ease the monetary policy because of high retail inflation. The most recent event of falling by 22% hitting an all time low against US dollar has affected imports making them costlier. Besides these, dismal performance of key sectors such as manufacturing, mining, power and capital goods has dragged the industrial production down. The roller coaster ride of the rupee hopefully is only a temporary phase. RBI may be emboldened to cut interest rates at an appropriate time to support the series of reforms being rolled out to stem the tide of despondency that has gripped the economy and to boost growth. The company could achieve only a gross turnover of Rs.903.100 Millions in 2012-13 as against Rs.933.500 Millions in the previous year. The profit before tax stood at Rs.126.000 Millions in 2012-13 as compared to Rs.154.600 Millions in the previous year. Material and other input costs have gone up, and that has affected the bottom line adversely. Though the profit levels have not increased, they have been extremely successful in achieving improvement in yield, productivity and lean manufacturing. These efforts have given the desired results with their business performance reflecting continued profitability despite severe cost pressures. :

The operations of the company are largely dependent on the growth of Indian Automotive industry. The main demand drivers (auto and auto ancillaries) face much lower growth in volumes now. Presently the sales are on a downhill slide. General economic conditions impact the automotive industry and in turn, the operations of the company. Currently the automobile industry production is sliding down, volumes have declined, and there is still pressure on competition-led pricing. Looking ahead, the signs of early economic recovery is slim.

Hence the general outlook for 2013-14 is uncertain. Under the circumstances, they would continue their efforts to reduce input costs, attempt to grow in non automotive business/markets and be watchful about opportunities to be tapped. The company has taken steps to broaden its product portfolio, increase customer profile and geographic reach. The company faces strong competitive pressures both domestic and overseas. Therefore aggressive cost reduction efforts are pursued to offset the increased input costs and improve margins.

FIXED ASSETS

v Tangible Assets

Land

Buildings

Plant and Equipment

Furniture and Fixtures

Vehicles

Motor Vehicles

Office Equipment

Other Equipments

v Intangible Assets

Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.90
UK Pound	1	Rs.102.74
Euro	1	Rs.85.16

INFORMATION DETAILS

Report Prepared by :

MRI

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	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--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	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		52

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.