MIRA INFORM REPORT

Report Date :

13.01.2014

IDENTIFICATION DETAILS

Name :	IDMC LIMITED (w.e.f. 26.01.2007)
Formerly Known As :	INDIAN DAIRY MACHINERY COMPANY PRIVATE LIMITED
Registered Office :	Plot No. 124-128, GIDC Estate, Vithal Udyognagar, District Anand-388121, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	14.09.1992
Com. Reg. No.:	04-018283
Capital Investment / Paid-up Capital :	Rs. 121.450 Millions
CIN No.: [Company Identification No.]	U29299GJ1992PLC018283
TAN No.: [Tax Deduction & Collection Account No.]	BRDI00332D
PAN No.: [Permanent Account No.]	AAACI4631E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Supplier of Equipment for Application in Dairy, Pharma, Beverage, Brewery and Thermal Management, Cattle feed as well as packaging Industries.
No. of Employees :	Information declined by management

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a wholly owned subsidiary of “National Dairy Development Board”. It is a well-established and reputed company having fine track record. There appears losses recorded by the company from its operational activities during the financial year 2013. However, general financial position of the company seems to be sound and healthy. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. In view of strong holdings the company can be considered normal for business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: A
Rating Explanation	Adequate degree at safety and low credit risk.
Date	10.09.2013

Rating Agency Name	CRISIL
Rating	Short term rating: A1
Rating Explanation	Very strong degree at safety.
Date	10.09.2013

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 DECLINED BY

Name :	Mr. Chandan Shah
Designation :	Not Divulged
Contact No.:	91-269-2225142/9016202985
Date :	13.01.2014

LOCATIONS

Registered Office/ Corporate office /Factory 1:	Plot No. 124-128, GIDC Estate, Vithal Udyognagar, District Anand - 388121, Gujarat, India
Tel. No.:	91-2692-236375/ 229917/ 229918/ 229921/ 229922/ 229923/ 223675/ 225151
Fax No.:	91-2692-236580/ 236164/ 234397/ 234397
E-Mail :	idmc@idmc.coop info@rushabhinfosoft.com kinnarishah@idmc.coop jpgopal@idmc.coop anilshenoi@idmc.coop ssbhatnagar@idmc.coop bipin@ismc.coop
Website :	www.idmc.coop www.idmc.co.in
Location:	Owned
Factory 2 :	(Machine Shop) Plot No. 606-608, GIDC Estate, Vithal Udyog Nagar, Anand, Gujarat, India
Location:	Owned
Factory 3 :	(BMC Unit) Plot No. 443-B , GIDC Estate, Vithal Udyog Nagar, Anand, Gujarat, India
Location:	Owned
Factory 4 :	(Optifilm Division) Plot No. 94-97, GIDC Estate, Vithal Udyog Nagar, Anand, Gujarat, India
Fax No.:	91-2692-233029
Location:	Owned
Factory 5 :	Plot No. C-1/11-12, GIDC Estate, Vithal Udyog Nagar, Anand, Gujarat, India
Location:	Owned
Regional Offices :	Western Express Highway, Near Mahananda, Dairy, Goregaon (East), Mumbai – 400063, Maharashtra, India Tel. No.: 91-22-26856256/ 23591884 Fax No.:91-22-26856122 Located At: · Chennai · New Delhi · Bangalore · Patna · Hyderabad · Kolkata · Anand

DIRECTORS

As on 29.08.2013

Name :

Dr. Amrita Hirubhai Patel

Designation :

Chairman

Address :

Savita” Bungalow, Vallabh Vidhyanagar, Anand – 388 120, Gujarat, India

Date of Birth/Age :

13.11.1943

Date of Appointment :

12.10.1992

DIN No.:

00065052

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	U29299GJ1992PLC018283	IDMC LIMITED	Director	12/10/1992	12/10/1992	-	Active	NO
2	U72200AP1999PLC032666	INDIAN IMMUNOLOGICALS LIMITED	Director	08/10/1999	08/10/1999	-	Active	NO
3	U15209DL2000PTC104671	MOTHER DAIRY FRUIT AND VEGETABLE PRIVATE LIMITED	Director	24/03/2000	24/03/2000	-	Active	NO
4	U15141DL2000PLC173051	DHARA VEGETABLE OIL AND FOODS COMPANY LIMITED	Director	11/12/2000	11/12/2000	-	Amalgamated	NO
5	U01211AP2004PLC044520	INDIAGEN LIMITED	Director	01/11/2004	01/11/2004	-	Amalgamated	NO
6	L15491WB1962PLC031425	TATA GLOBAL BEVERAGES LIMITED	Director	29/06/2006	29/06/2006	25/08/2008	Active	NO
7	U51909DL2006PLC234695	SAFAL NATIONAL EXCHANGE OF INDIA LIMITED	Nominee director	21/08/2007	20/09/2006	25/06/2010	Amalgamated	NO

Name :

Mr. Ravi Shankar

Designation :

Managing director

Address :

B-3, NDDB Campus, Anand – 388 001, Gujarat, India

Date of Birth/Age :

20.05.1962

Date of Appointment :

02.04.2013

DIN No.:

00277044

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	U01211AP2004PLC044520	INDIAGEN LIMITED	Director	11/09/2008	24/04/2008	22/06/2009	Amalgamated	NO
2	U01403DL2009NPL195142	NDDB DAIRY SERVICES	Director	30/09/2010	12/10/2009	27/01/2012	Active	NO
3	U29299GJ1992PLC018283	IDMC LIMITED	Managing director	02/04/2013	16/03/2012	-	Active	NO

Name :

Mr. Deepak Tikku

Designation :

Director

Address :

D-11, First Floor, (B/P), Maharani Bagh, Delhi - 110065, India

Date of Birth/Age :

19.06.1948

Date of Appointment :

30.07.1999

DIN No.:

00064125

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	U29299GJ1992PLC018283	IDMC LIMITED	Director	30/07/1999	30/07/1999	-	Active	NO
2	U72200AP1999PLC032666	INDIAN IMMUNOLOGICALS LIMITED	Director	08/10/1999	08/10/1999	-	Active	NO
3	U15209DL2000PTC104671	MOTHER DAIRY FRUIT AND VEGETABLE PRIVATE LIMITED	Director	24/03/2000	24/03/2000	-	Active	NO
4	U15141DL2000PLC173051	DHARA VEGETABLE OIL AND FOODS COMPANY LIMITED	Director	11/12/2000	11/12/2000	-	Amalgamated	NO
5	U15419DL2002PLC115531	MOTHER DAIRY FOODS PROCESSING LIMITED	Director	24/05/2002	24/05/2002	-	Amalgamated	NO
6	U74899DL2003PLC119645	MOTHER DAIRY INDIA LIMITED	Director	01/04/2003	01/04/2003	-	Amalgamated	NO
7	U01211AP2004PLC044520	INDIAGEN LIMITED	Director	01/11/2004	01/11/2004	-	Amalgamated	NO
8	U51909DL2006PLC234695	SAFAL NATIONAL EXCHANGE OF INDIA LIMITED	Nominee director	21/08/2007	20/09/2006	25/06/2010	Amalgamated	NO
9	U01403DL2009NPL195142	NDDB DAIRY SERVICES	Whole-time director	01/07/2013	12/10/2009	-	Active	NO

Name :

Mr. Dilip Rath

Designation :

Director

Address :

National Dairy Development board, Near Jagnath Mahadev, Anand – 388001, Gujarat, India

Date of Birth/Age :

15.11.1954

Date of Appointment :

16.07.2012

DIN No.:

05163623

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	U29299GJ1992PLC018283	IDMC LIMITED	Director	16/07/2012	21/12/2011	-	Active	NO
2	U01403DL2009NPL195142	NDDB DAIRY SERVICES	Director	28/09/2012	27/01/2012	-	Active	NO
3	U15209DL2000PTC104671	MOTHER DAIRY FRUIT AND VEGETABLE PRIVATE LIMITED	Director	19/07/2012	26/03/2012	-	Active	NO
4	U72200AP1999PLC032666	INDIAN IMMUNOLOGICALS LIMITED	Director	14/09/2012	15/04/2012	-	Active	NO

Name :

Mr. Subramaniam Ramachandran Iyer

Designation :

Director

Address :

R -3, Rao Mansions, No. 4, 17^th A Cross, 8^th Main, Malleswaram , Bangalore - 560 055, Karnataka, India

Date of Birth/Age :

28.05.1940

Date of Appointment :

22.09.2003

DIN No.:

00580437

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	L17100MH1984PLC033143	ZODIAC CLOTHING COMPANY LIMITED	Director	22/06/2002	22/06/2002	-	Active	NO
2	U15141DL2000PLC173051	DHARA VEGETABLE OIL AND FOODS COMPANY LIMITED	Director	07/07/2003	07/07/2003	-	Amalgamated	NO
3	U29299GJ1992PLC018283	IDMC LIMITED	Director	22/09/2003	22/09/2003	-	Active	NO
4	L45204AP2001PLC057199	KSK ENERGY VENTURES LIMITED	Director	12/05/2005	12/05/2005	-	Active	NO
5	U63030MH1987PTC045750	P N WRITER AND COMPANY PRIVATE LIMITED	Director	31/12/2008	03/10/2007	-	Active	NO
6	U40109AP2005PTC047594	KSK ELECTRICITY FINANCING INDIA PRIVATE LIMITED	Director	18/08/2008	16/01/2008	01/02/2013	Active	NO
7	U70100MH1995PTC092800	WRITER LIFESTYLE PRIVATE LIMITED	Director	10/09/2009	10/09/2009	-	Active	NO
8	U22300KA2005PLC035885	KANNADA PRABHA PUBLICATIONS LIMITED	Director	20/09/2010	01/04/2010	-	Active	NO
9	U74999MH2001PTC130866	WRITER SAFEGUARD PRIVATE LIMITED	Director	30/09/2010	02/09/2010	-	Active	NO
10	L85110KA1987PLC008699	CAN FIN HOMES LIMITED	Director	16/02/2012	05/01/2011	-	Active	NO
11	U40109AP2005PLC047917	WARDHA POWER COMPANY LIMITED.	Director	08/09/2012	25/01/2012	-	Active	NO
12	U40300AP2009PLC064062	KSK MAHANADI POWER COMPANY LIMITED	Director	08/09/2012	25/01/2012	-	Active	NO
13	U74120MH2011PTC220601	WATERFIELD ADVISORS PRIVATE LIMITED	Director	14/09/2012	09/08/2012	-	Active	NO

Name :

Mr. Sangramsinh Raysangbhai Chaudhary

Designation :

Director

Address :

B-6, NDDB Campus, Anand – 388 001, Gujarat, India

Date of Birth/Age :

06.09.1960

Date of Appointment :

16.07.2012

DIN No.:

01850128

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	U74950GJ1985PTC007652	PEOPLE"S TRUSTEESHIP PACKAGING PRIVATE LIMITED	Director	12/01/2004	12/01/2004	-	Active	YES
2	U01403DL2009NPL195142	NDDB DAIRY SERVICES	Director appointed in casual vacancy	27/01/2012	27/01/2012	-	Active	NO
3	U15200GJ1998NPL034249	VIDYA DAIRY	Nominee director	17/02/2012	17/02/2012	-	Active	NO
4	U29299GJ1992PLC018283	IDMC LIMITED	Director	16/07/2012	16/03/2012	-	Active	NO

Name :

Mr. Anil Shenoi

Designation :

Whole-time director

Address :

B -12, NDDB Campus, Anand – 388 001, Gujarat, India

Date of Birth/Age :

01.02.1958

Date of Appointment :

21.12.2011

DIN No.:

00062468

PAN No.:

AHFPS3497R

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	U29299GJ1992PLC018283	IDMC LIMITED	Whole-time director	21/12/2011	01/04/2005	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Kinnari Hanskumar Shah
Designation :	Company Secretary
Address :	10, Ashok Apartment, Opposite Suraj Paty Plot, Behind Dharnidhar Temple, Vasana, Ahmedabad – 380 007, Gujarat, India
Date of Birth/Age :	06.07.1978
Date of Appointment :	01.01.2011
Pan No. :	BAGPS6051Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.08.2013

Names of Shareholders	No. of Shares
National Dairy Development Board, India	12144538
Amrita Patel	1
Y. Y. Patil	1
Anil Shenoi	1
Dilip Rath	1
Sangram R. Chaudhary	1
Ravi Shankar	1
Total	12144544

Equity Share Break up (Percentage of Total Equity)

As on 29.08.2013

Category	Percentage
Public Financial Companies	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Equipment for Application in Dairy, Pharma, Beverage, Brewery and Thermal Management, Cattle feed as well as packaging Industries.

Products :

Product Description	Item Code No. (Itc Code)
Bulk Milk Cooling Tank	84186950
Components, Spares And Accessories	84818030
Fabricated Equipment’s	84798200
Optifilm	39201099
Plate Heat Exchangers	84195020
Pumps	84137099
S. S. Fittings	73079390

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Installed Capacity	Actual Production
Fabricated equipments	Nos.	NA	783
Bulk Milk Cooling Tank	Nos.	NA	1141
SS Fittings	Nos.	NA	50409
Pumps	Nos.	NA	1763
Plate heat Exchanges	Nos.	NA	736
Components Spares and accessories	Nos.	NA	27725
Optifilm	Kgs.	9100000	7825183

GENERAL INFORMATION

No. of Employees :

Information declined by management

Bankers :

• Indian Bank, 5/8/14, Station Road, Anand – 388 001, Gujarat, India
• Axis Bank Limited, "Trishul", 3rd Floor, Opp. Samatheshwar Temple, Law Garden, Ellisbridge,, Ahmedabad - 380006, Gujarat, India

Facilities :

Secured Loans	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from bank (Loans from Banks are secured by hypothecation of specific Fixed Assets)	106.830	146.670
Rupee term loans from others (Loans from National Dairy Development Board (NDDB) are secured by hypothecation of all movable fixed assets Except those specifically charged to Banks.)	22.220	56.130
Short Term Borrowings
Loans repayable on demand from banks	0.000	128.400
Loans repayable on demand from others	945.330	685.670
Total	1074.380	1016.870

Banking Relations :	--
Financial Institute:	National Dairy Development Board, Near Jagnath Mahadev, Anand - 380001, Gujarat, India
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	31, Nutan Bharat Socity, Alkapuri, Baroda – 390 007, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	AADFD2337G
Holding Entity:	National Dairy Development Board

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs. 10/- each	Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12144544	Equity Shares	Rs. 10/- each	Rs. 121.450 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	121.450	121.450	121.450
(b) Reserves & Surplus	657.130	787.870	780.650
(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)	778.580	909.320	902.100
(3) Non-Current Liabilities
(a) long-term borrowings	129.050	202.800	281.540
(b) Deferred tax liabilities (Net)	87.070	80.620	68.410
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	4.870	4.870	4.540
Total Non-current Liabilities (3)	220.990	288.290	354.490
(4) Current Liabilities
(a) Short term borrowings	945.330	814.070	693.020
(b) Trade payables	681.850	857.260	715.250
(c) Other current liabilities	457.850	323.700	299.270
(d) Short-term provisions	24.750	24.750	87.550
Total Current Liabilities (4)	2109.780	2019.780	1795.090
TOTAL	3109.350	3217.390	3051.680
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	782.780	821.960	854.940
(ii) Intangible Assets	25.460	16.150	3.630
(iii) Capital work-in-progress	1.820	8.910	8.980
(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	15.870	12.190	9.880
(e) Other Non-current assets	124.790	149.010	148.350
Total Non-Current Assets	950.720	1008.220	1025.780
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	531.720	549.420	618.860
(c) Trade receivables	1251.01	1399.870	1223.670
(d) Cash and cash equivalents	176.84	32.120	23.010
(e) Short-term loans and advances	177.35	212.640	150.430
(f) Other current assets	21.710	15.120	9.930
Total Current Assets	2158.630	2209.170	2025.900
TOTAL	3109.350	3217.390	3051.680

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3599.180	4188.890	3938.960
		Other Income	10.590	11.300	13.150
		TOTAL (A)	3609.770	4200.190	3952.110
Less	EXPENSES
		Cost of materials consumed	2618.820	3080.740	2684.200
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	21.690	75.760	8.830
		Employee benefit expense	310.52	280.570	228.670
		Other expenses	581.860	531.120	486.680
		TOTAL (B)	3532.890	3968.190	3408.380
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		76.880	232.000	543.730
Less	FINANCIAL EXPENSES (D)		120.490	132.940	111.550
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(43.610)	99.060	432.180
Less/ Add	DEPRECIATION/ AMORTISATION (F)		85.570	79.460	80.060
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(129.180)	19.600	352.120
Less	TAX (H)		1.560	12.380	119.950
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(130.740)	7.220	232.170
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		546.000	538.780	352.343
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	17.500
		Proposed Dividend (including tax on dividend)	0.000	0.000	28.230
	BALANCE CARRIED TO THE B/S		415.260	546.000	538.780
	EARNINGS IN FOREIGN CURRENCY
		Export (FOB Basis)	11.640	22.590	106.910
		Commission Earnings	0.930	0.980	0.120
	TOTAL EARNINGS		12.570	23.570	107.030
	IMPORTS
		Raw Materials	7.460	3.730	0.000
		Bought Out	429.180	384.760	396.800
		Capital Goods	183.490	380.820	616.570
		Goods-In-Transit	0.000	0.000	5.260
	TOTAL IMPORTS		620.130	769.310	1018.630
	Earnings Per / (Loss) Share (Rs.)		(10.77)	0.59	19.12

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(3.62)	0.17	5.88
Net Profit Margin (PBT/Sales)	(%)	(3.59)	0.47	8.94
Return on Total Assets (PBT/Total Assets}	(%)	(4.16)	0.23	7.66
Return on Investment (ROI) (PBT/Networth)		(0.17)	0.01	0.26
Debt Equity Ratio (Total Debt /Networth)		1.38	1.12	1.08
Current Ratio (Current Asset/Current Liability)		2.77	1.09	1.13

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

PERFORMANCE

During the year, IDMC continued to operate in the business segments of Dairy, Thermal management system, Pharmaceuticals and Biotechnology, Brewery & Beverages, Cattle feed and Packaging.

The year witnessed a general slowdown in the domestic and global economies. This had an impact on IDMC’s income. The Company’s Revenue from Operations for FY 2012-13 was Rs. 3599.180 Millions. The metal division registered a sales/ revenue of Rs. 2507.810 Millions and the plastic division reported a sales/ revenue of Rs. 1091.370 Millions.

OUTLOOK

While the growth rate of the Indian economy has slowed down, due to a deceleration in the industrial sector and the falling rupee, IDMC’s order booking is reasonably satisfactory for FY 2013-14. This is expected to help IDMC in meeting the challenges of growth in a viable manner.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10381722	17/10/2012	400,000,000.00	STATE BANK OF INDIA	SPECIAL COMMERCIAL BRANCH, JAYLAXMI PLAZA, GANESH CROSSING, ANAND, GUJARAT - 388001, INDIA	B60141041
2	10372064	01/11/2012 *	870,000,000.00	INDIAN BANK	5/8/14, STATION ROAD, ANAND, ANAND, GUJARAT - 388 001, INDIA	B62500277
3	10348929	03/07/2013 *	350,000,000.00	AXIS BANK LIMITED	"TRISHUL", 3RD FLOOR, OPP. SAMATHESHWAR TEMPLE,, LAW GARDEN, ELLISBRIDGE,, AHMEDABAD, GUJARAT - 380 006, INDIA	B79985537
4	10344136	20/09/2012 *	1,300,000,000.00	NATIONAL DAIRY DEVELOPMENT BOARD	NR. JAGNATH MAHADEV, NATIONAL DAIRY DEVELOPMENT B OARD, ANAND, GUJARAT - 380001, INDIA	B59067181
5	90096023	27/07/2000 *	120,000,000.00	NATIONAL DAIRY DEVELOPMENT BOARD	POST BOX NO. 40, ANAND, GUJARAT - 388001, INDIA	-
6	90095986	29/12/1997	72,500,000.00	NATIONAL DAIRY DEVELOPMENT BOARD	P. B. NO. 40, ANAND, GUJARAT - 388001, INDIA	-
7	90095538	05/06/2002 *	48,279,000.00	NATIONAL DAIRY DEVELOPMENT BOARD	POST BOX NO. 40, ANAND, WEST BENGAL - 388001, INDI A	-
8	90095886	19/07/1994	48,279,000.00	NATIONAL DAIRY DEVELOPMENT BOARD	POST BOX NO. 40, ANAND, GUJARAT - 388001, INDIA	-

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS	31.03.2013
Income Tax	0.000
Sales Tax	7.790
Customs Duty	54.250
Excise Duty	13.870
Outstanding balance on letter of credit and bank guarantees	1096.280
Differential custom duty for importing goods under Project Import '-Chapter No.98.01 (to the extent remaining unfulfilled)	7.900

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Factory equipment’s

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipment’s

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.61.94
UK Pound	1	Rs.102.06
Euro	1	Rs.84.31

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	KVT

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	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.