MIRA INFORM REPORT

Report Date :

04.07.2014

IDENTIFICATION DETAILS

Name :	SANDHAR TECHNOLOGIES LIMITED
Registered Office :	C-101 A, Ansal Plaza, HUDCO Place, Khelgaon Marg, New Delhi – 110049
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	19.10.1987
Com. Reg. No.:	55-029553
Capital Investment / Paid-up Capital :	Rs. 93.738 Millions
CIN No.: [Company Identification No.]	U34360DL1987PLC029553
PAN No.: [Permanent Account No.]	AAACS0512J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of Auto components for two wheeler and four wheelers Industry.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 6790000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There seems slight dip in the profits of the company during 2013 however, net worth of the company is satisfactory. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct. The company can be considered normal 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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

EXTERNAL AGENCY RATING

Rating Agency Name	INDIA RATING
Rating	(A-) Long Term Rating
Rating Explanation	Adequate degree of safety. It carry low credit risk.
Date	January 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

Management non co-operative (91-124-4518900)

LOCATIONS

Registered Office :	C-101 A, Ansal Plaza, HUDCO Place, Khelgaon Marg, New Delhi – 110049, India
Tel. No.:	91-124-4959904
Fax No.:	Not Available
Mobile No.:	91-9650052414 (Ms. Vinita Shaw)
E-Mail :	info@sandhar.in Vinita.shaw@sandhar.in
Website :	http://www.sldl.com
Corporate Office :	13 , Sector - 44, Gurgaon - 122 002, Haryana, India
Tel. No.:	91-124-4518900 / 91
Fax No.:	91-124-4012845
E-Mail :	enquiries@sandhar.in
Factory :	Located at: Pune Maharashtra, India

DIRECTORS

AS ON 03.07.2013

Name :	Mr. Dharmendar Nath Davar
Designation :	Director
Address :	B-5/82, Safdarjung Enclave, New Delhi – 110029, India
Date of Birth/Age :	08.08.1934
Date of Appointment :	02.07.1994
DIN No.:	00002008

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	L26942OR1949PLC000185	OCL INDIA LIMITED	Director	26/05/1994	26/05/1994	-	Active	NO
2	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	02/07/1994	02/07/1994	-	Active	NO
3	L55101RJ1970PLC001294	MANSINGH HOTELS AND RESORTS LIMITED	Director	13/08/1994	13/08/1994	-	Active	NO
4	L23109MP1972PLC008290	HEG LIMITED	Director	10/11/1994	10/11/1994	-	Active	NO
5	L45101DL1967PLC004759	ANSAL PROPERTIES AND INFRASTRUCTURE LIMITED	Director	16/08/1995	16/08/1995	-	Active	NO
6	U74899DL1991PLC046774	HERO FINCORP LIMITED	Director	30/08/1995	30/08/1995	-	Active	NO
7	U74899HR1991PTC039797	S P WAHI MANAGEMENT AND TECHNOLOGY CONSULTANTS PRIVATE LIMITED	Director	09/04/1997	09/04/1997	27/02/2014	Active	NO
8	U74899DL2000PLC106824	SANDHAR INFOSYSTEMS LIMITED.	Director	17/07/2000	17/07/2000	08/02/2012	Active	NO
9	U28939DL2002PTC114374	SANDHAR TOOLING PRIVATE LIMITED	Director	07/06/2002	07/06/2002	23/05/2014	Active	NO
10	U36991HP1995PLC031163	JAIPRAKASH POWER VENTURES LIMITED	Director	21/09/2002	21/09/2002	25/01/2008	Amalgamated	NO
11	L14106UP1995PLC019017	JAIPRAKASH ASSOCIATES LIMITED	Director	21/09/2002	21/09/2002	25/01/2008	Active	NO
12	U55101TN1970PLC005815	ADYAR GATE HOTELS LIMITED	Director	04/06/2004	04/06/2004	-	Active	NO
13	L40101HP1994PLC015483	JAIPRAKASH POWER VENTURES LIMITED	Director	25/09/2004	25/09/2004	25/01/2008	Active	NO
14	L17124MP1989PLC008255	MARAL OVERSEAS LIMITED	Director	28/09/2004	28/09/2004	-	Active	NO
15	L17115RJ1960PLC008216	RSWM LIMITED	Director	10/11/2004	10/11/2004	-	Active	NO
16	L24239DL1992PLC047245	AHLCON PARENTERALS (INDIA) LIMITED	Director	28/10/2006	28/10/2006	08/08/2008	Active	NO
17	U72200DL1994PTC181176	MOBISOFT TELESOLUTIONS PRIVATE LIMITED	Director	01/11/2006	01/11/2006	25/02/2011	Active	NO
18	L27320WB1997PLC084819	TITAGARH WAGONS LIMITED	Director	18/08/2007	08/12/2006	-	Active	NO
19	L13100DL1976PLC188942	LANDMARK PROPERTY DEVELOPMENT COMPANY LIMITED	Director	22/09/2008	29/01/2008	-	Active	NO
20	U55204DL2007PLC170126	PARSVNATH HOTELS LIMITED	Director	28/08/2008	19/06/2008	03/08/2013	Active	NO
21	U45200DL2006PLC154061	PARSVNATH INFRA LIMITED	Director	28/08/2008	29/07/2008	06/11/2013	Active	NO
22	L28910WB1943PLC168801	CIMMCO LIMITED	Director	05/12/2011	31/03/2011	-	Active	NO
23	U70109WB2008PLC128968	TITAGARH MARINE LIMITED	Director	30/09/2013	05/08/2013	-	Active	NO

Name :	Mr. Arvind Pande
Designation :	Director
Address :	E-148, First Floor, East of Kailash, New Delhi – 110065, India
Date of Birth/Age :	07.09.1942
Date of Appointment :	14.03.2003
DIN No.:	00007067

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	L65920MH1994PLC080618	HDFC BANK LIMITED	Director	15/01/2003	15/01/2003	14/01/2011	Active	NO
2	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	14/03/2003	14/03/2003	-	Active	NO
3	L51109OR1996PLC004601	VISA STEEL LIMITED	Director	06/10/2004	06/10/2004	17/08/2010	Active	NO
4	L74899DL1990PLC041350	ERA INFRA ENGINEERING LIMITED	Director	19/03/2005	19/03/2005	-	Active	NO
5	L27104WB1986PLC040831	BURNPUR CEMENT LIMITED	Director	19/09/2007	05/10/2006	26/06/2009	Active	NO
6	L23109WB1973GOI028844	COAL INDIA LTD GOVT OF INDIA UNDERTAKING	Director	24/08/2007	24/08/2007	23/08/2010	Active	NO
7	U35303WB2007PLC117120	BENGAL AEROTROPOLIS PROJECTS LIMITED	Director	27/09/2008	26/12/2007	-	Active	NO
8	L27320WB1997PLC084819	TITAGARH WAGONS LIMITED	Director	15/09/2012	24/03/2012	02/08/2013	Active	NO
9	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	28/09/2013	29/05/2013	-	Active	NO

Name :	Mr. Gaurav Dalmia
Designation :	Nominee director
Address :	Dalmia House, 20F Prithvi Raj Road, New Delhi – 110011, India
Date of Birth/Age :	26.09.1965
Date of Appointment :	30.03.2012
DIN No.:	00009639

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	U28991WB1948PTC191241	DALMIA AGENCIES PRIVATE LIMITED	Director	01/01/1984	01/01/1984	17/07/2012	Active	NO
2	U74899DL1980PTC010770	ARTECH INFOSYSTEMS PRIVATE LIMITED	Director	22/09/1992	22/09/1992	17/03/2010	Active	NO
3	U67190MH1992PLC068970	PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED	Director	02/04/1993	02/04/1993	22/03/2010	Active	NO
4	U74899DL1994PLC057651	FIRST CAPITAL INDIA LIMITED	Director	02/03/1994	02/03/1994	-	Active	NO
5	U67120MH1999PTC209227	INFINITY TECHNOLOGY INVESTMENTS PRIVATE LIMITED	Director	07/04/1999	07/04/1999	05/06/2014	Active	NO
6	U65991MH1999PTC121901	INFINITY TECHNOLOGY TRUSTEE PRIVATE LIMITED	Director	23/09/1999	23/09/1999	05/06/2014	Active	NO
7	U01909DL1984PLC022836	DEBI KAY SYSTEMS LIMITED	Director	19/07/2001	19/07/2001	29/03/2014	Active	NO
8	U45201DL2003PTC122238	LANDMARK LAND HOLDINGS PRIVATE LIMITED	Director	29/10/2003	29/10/2003	-	Active	NO
9	U74140DL1996PTC077998	SKYLARK CONSULTANTS (INDIA) PRIVATE LIMITED	Director	01/09/2004	01/09/2004	-	Active	NO
10	U72200DL2004PTC130887	ARTECH STEEL INDUSTRIES PRIVATE LIMITED	Director	01/12/2004	01/12/2004	17/03/2010	Active	NO
11	U67190MH2000PTC123712	INDIA VALUE FUND ADVISORS PRIVATE LIMITED	Director	10/01/2005	10/01/2005	-	Active	NO
12	U67190MH2004PLC150329	CAPITAL FIRST INVESTMENT ADVISORY LIMITED	Director	22/02/2005	22/02/2005	08/12/2007	Active	NO
13	U45201DL2005PTC136590	ASTIR PROPERTIES PRIVATE LIMITED	Director	24/05/2005	24/05/2005	-	Active	NO
14	U45201DL2004PTC129188	ANSAL LANDMARK TOWNSHIPS PRIVATE LIMITED	Director	10/11/2005	10/11/2005	-	Active	NO
15	U45201DL2006PTC146089	VIPUL SEZ DEVELOPERS PRIVATE LIMITED	Director	19/04/2006	19/04/2006	24/09/2010	Active	NO
16	U70101DL2006PTC148590	GD SECURITIES PRIVATE LIMITED	Director	26/05/2006	26/05/2006	19/04/2008	Active	NO
17	U70109MH2006PTC190933	DAZZLING PROPERTIES PRIVATE LIMITED	Director	26/10/2007	10/08/2006	02/12/2008	Active	NO
18	U70109DL2006PTC151861	FAST TRACK REALTORS PRIVATE LIMITED	Director	10/08/2006	10/08/2006	19/12/2006	Active	NO
19	U70109DL2006PTC152606	LANDMARK HI TECH DEVELOPMENT PRIVATE LIMITED	Director	28/08/2006	28/08/2006	-	Active	NO
20	U70104DL2006PTC153985	NEW LINE BUILDTECH PRIVATE LIMITED	Director	16/09/2006	16/09/2006	-	Active	NO
21	U70109DL2006PTC155053	TREASURED DEVELOPERS PRIVATE LIMITED	Director	27/10/2006	27/10/2006	19/12/2006	Active	NO
22	U45200DL2007PTC157597	KHUSHHAL DEVELOPERS PRIVATE LIMITED	Director	09/01/2007	09/01/2007	01/01/2008	Active	NO
23	U45200DL2007PTC157640	SAMRIDHI TOWNSHIPS PRIVATE LIMITED	Director	10/01/2007	10/01/2007	05/04/2008	Active	NO
24	U70100PB2005PTC029238	SUKHM INFRASTRUCTURES PRIVATE LIMITED	Director	28/05/2010	12/01/2007	18/09/2012	Active	NO
25	U45200DL2007PTC157944	PLUS ONE REALTORS PRIVATE LIMITED	Director	16/01/2007	16/01/2007	-	Active	NO
26	U70109DL2007PTC158031	MANBHAWAN PROPERTIES PRIVATE LIMITED	Director	17/01/2007	17/01/2007	01/01/2008	Active	NO
27	U70109DL2006PTC152961	NEW LINE DEVELOPERS PRIVATE LIMITED	Director	16/09/2013	07/03/2007	21/03/2014	Active	NO
28	U74140MH2006PTC164125	IVF ADVISORS PRIVATE LIMITED	Director	21/06/2007	21/06/2007	-	Active	NO
29	U70101OR1982PTC001037	SAFARI RETREATS PRIVATE LIMITED	Director	30/09/2008	07/08/2007	-	Active	NO
30	U70109DL2007PTC170699	LANDMARK REALTECH PRIVATE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
31	L13100DL1976PLC188942	LANDMARK PROPERTY DEVELOPMENT COMPANY LIMITED	Managing director	16/05/2014	29/01/2008	-	Active	NO
32	U45201PN2005PTC020918	KUMAR BUILDERS TOWNSHIP VENTURES PRIVATE LIMITED	Director	29/09/2008	16/06/2008	-	Active	NO
33	U70101PN1993PTC072139	KUMAR URBAN DEVELOPMENT PRIVATE LIMITED	Director	25/09/2009	26/08/2009	08/03/2013	Active	NO
34	L01110MH2006PLC161345	BAJAJ CORP LIMITED	Director	25/06/2010	04/02/2010	-	Active	NO
35	L29299OR1948PLC000713	HARI MACHINES LIMITED.	Director	18/09/2010	11/05/2010	-	Active	NO
36	L26942OR1949PLC000185	OCL INDIA LIMITED	Managing director	17/09/2010	21/07/2010	-	Active	NO
37	U13100WB2010PTC153241	PRO MINERALS PRIVATE LIMITED	Director	30/09/2011	28/09/2010	-	Active	NO
38	U51109WB1990PTC049414	AAYUSH MANUFACTURERS AND FINANCIERS PRIVATE LIMITED.	Director	09/12/2010	09/12/2010	-	Active	NO
39	U24233WB1996PTC076723	NOBEL CONSULTANCY PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
40	U67120WB1995PTC110837	T R INVESTMENTS PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
41	U27109WB1995PTC067578	KHAITAN UDYOG PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
42	U55101DL2010PTC211816	SAMHI HOTELS PRIVATE LIMITED	Director	12/09/2011	13/04/2011	-	Active	NO
43	U18109TN2006PLC061384	RAYMOND APPAREL LIMITED	Director	28/07/2011	27/07/2011	-	Active	NO
44	U51101WB2010PTC142948	GENUINE DEALCOMM PRIVATE LIMITED	Director	18/08/2011	18/08/2011	-	Active	NO
45	U45400WB2009PTC133461	JAGANNATH ABASAN PRIVATE LIMITED	Director	25/08/2011	25/08/2011	-	Active	NO
46	U70100DL2011PTC217081	ANSAL LANDMARK (KARNAL) TOWNSHIP PRIVATE LIMITED	Director	19/06/2012	29/12/2011	-	Active	NO
47	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Nominee director	30/03/2012	30/03/2012	-	Active	NO
48	U51909WB1989PTC047900	RITESHWARI TRADING AND INVESTMENTS PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
49	U52100WB2011PTC158145	PINAKINI MERCANTILE PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
50	U52190WB2011PTC158234	ACHINTYA TRADING PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
51	U70109WB1993PTC060083	SHIVSHAKTI COMMUNICATION AND INVESTMENT PRIVATE LIMITED	Director	09/08/2013	09/08/2013	-	Active	NO
52	U74140WB2010PTC142325	CONFIRM DEVELOPERS CONSULTANTS PRIVATE LIMITED	Director	09/08/2013	09/08/2013	-	Active	NO
53	U15490DL2010PTC198831	BRATTLE FOODS PRIVATE LIMITED	Nominee director	10/03/2014	18/11/2013	20/03/2014	Active	NO
54	U74999WB2011PTC168478	STEEL PLANTECH ENGINEERING INDIA PRIVATE LIMITED	Additional director	03/02/2014	03/02/2014	-	Active	NO
55	AAA-5177	GTI CAPITAL ADVISORY SERVICES (INDIA) LLP	Designated Partner	14/06/2011	14/06/2011	-	Active	NO

Name :	Mr. Chandra Mohan
Designation :	Director
Address :	202, Sector 36A, Chandigarh, Union Teritory – 160036, India
Date of Birth/Age :	30.12.0932
Date of Appointment :	02.02.1993
DIN No.:	00017621

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	L34300HR1983PLC023187	RICO AUTO INDUSTRIES LIMITED	Director	30/01/1985	30/01/1985	29/09/2012	Active	NO
2	U74210HP1985PLC006361	ENGINEERING INNOVATIONS LTD	Director	07/10/1985	07/10/1985	-	Active	NO
3	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	02/02/1993	02/02/1993	-	Active	NO
4	L17115CH1990PLC010566	WINSOME YARNS LIMITED	Director	24/07/1998	24/07/1998	03/09/2013	Active	NO
5	U74999DL1990PLC041398	DCM ENGINEERING LIMITED	Director	23/06/2001	23/06/2001	-	Active	NO
6	U72200DL1994PTC181176	MOBISOFT TELESOLUTIONS PRIVATE LIMITED	Additional director	13/12/2011	04/12/2002	24/02/2012	Active	NO
7	L33302HP1981PLC008123	KDDL LIMITED	Director	17/06/2003	17/06/2003	-	Active	NO
8	U73100DL1997PTC089347	MIRA EXPLORATIONS PRIVATE LIMITED.	Director	27/12/2003	27/12/2003	30/12/2011	Active	NO
9	L24116PB1986PLC007030	IOL CHEMICALS AND PHARMACEUTICALS LIMITED	Director	27/10/2005	27/10/2005	-	Active	NO
10	U15420PB2005PLC029046	TRIDENT AGRITECH LIMITED	Director	30/09/2006	29/10/2005	31/12/2007	Amalgamated	NO
11	L17115HP1980PLC005647	WINSOME TEXTILE INDUSTRIES LIMITED	Additional director	31/01/2007	31/01/2007	-	Active	NO
12	L29211PB1970PLC002942	PUNJAB TRACTORS LIMITED	Director	22/09/2007	14/07/2007	-	Amalgamated	NO
13	U64204DL2009PTC189456	NEXTGEN TELESOLUTIONS PRIVATE LIMITED	Director	17/04/2009	17/04/2009	-	Active	NO

Name :	Mr. Satyapal Wahi
Designation :	Director
Address :	Villa No. 8/C, Ardee City Sector 52, Gurgaon Haryana – 122003, India
Date of Birth/Age :	06.11.1929
Date of Appointment :	02.07.1994
DIN No.:	00083488
Name :	Mr. Arvind Kapur
Designation :	Director
Address :	181-c Western Avenue Sanik, Farms, New Delhi – 110062, India
Date of Birth/Age :	05.07.1950
Date of Appointment :	01.10.2005
DIN No.:	00096308

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	U27105PB1983PTC005332	KAPSONS ASSOCIATES INVESTMENTS PRIVATE LIMITED	Director	07/03/1983	07/03/1983	-	Active	NO
2	L34300HR1983PLC023187	RICO AUTO INDUSTRIES LIMITED	Managing director	10/11/2012	10/03/1983	-	Active	NO
3	U34300DL1986PLC023498	UNITECH MACHINES LIMITED	Director	23/10/1987	23/10/1987	-	Active	NO
4	U34300HR1997PLC035283	FCC RICO LIMITED	Director	27/02/1997	27/02/1997	-	Active	NO
5	U67120DL2001PTC110707	KDB INVESTMENTS PRIVATE LIMITED	Director	04/05/2001	04/05/2001	-	Active	NO
6	U74899DL1990PTC038893	HIGAIN INVESTMENTS PRIVATE LIMITED	Director	11/08/2001	11/08/2001	-	Active	NO
7	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	02/09/2003	02/09/2003	05/09/2013	Active	NO
8	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	01/10/2005	01/10/2005	-	Active	NO
9	U70101DL1996PTC077415	MAGPIE PROPERTIES PRIVATE LIMITED	Director	01/11/2006	01/11/2006	-	Active	NO
10	U29253HR2007PLC036910	UTTARAKHAND AUTOMOTIVES LIMITED	Director	04/06/2007	04/06/2007	01/04/2009	Active	NO
11	U34200HR2007PLC037021	RICO JINFEI WHEELS LIMITED	Director	16/07/2007	16/07/2007	-	Active	NO
12	U45400HR2007PTC037085	HARIDWAR ESTATES PRIVATE LIMITED	Director	06/08/2007	06/08/2007	-	Active	NO
13	U74120HR2007PLC037192	RASA AUTOCOM LIMITED	Director	05/09/2007	05/09/2007	01/04/2009	Active	NO
14	U22300HR2007PLC037454	OCTAN MEDIA LIMITED	Director	10/12/2007	10/12/2007	-	Active	NO
15	U74900HR2008PTC037519	CONTINENTAL AUTOMOTIVE BRAKE SYSTEMS (I) PRIVATE LIMITED	Nominee director	03/01/2008	03/01/2008	09/03/2012	Active	NO
16	U34300HR2008PLC037956	RAA AUTOCOM LIMITED	Director	27/05/2008	27/05/2008	01/04/2009	Active	NO
17	U72200HR2008PTC038145	CONTECH INFOSYSTEMS PRIVATE LIMITED	Director	08/07/2008	08/07/2008	-	Strike off	NO
18	U51109DL2007PTC168447	RAASAA RETAIL PRIVATE LIMITED	Director	30/09/2010	20/03/2010	-	Active	NO
19	U70200DL2011PTC220727	ASN PROPERTIES PRIVATE LIMITED	Director	10/06/2011	10/06/2011	-	Active	NO
20	U35990DL2010PTC202385	ALPHA MAIER PRIVATE LIMITED	Director	12/06/2012	17/02/2012	-	Active	NO

Name :	Mr. Jayant Davar
Designation :	Managing director
Address :	B-5/82, Safdarjung Enclave, New Delhi – 110029, India
Date of Birth/Age :	18.10.1961
Date of Appointment :	24.10.1987
DIN No.:	00100801

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	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Managing director	01/01/2011	24/10/1987	-	Active	NO
2	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	27/08/1998	27/08/1998	06/09/2011	Active	NO
3	U74899DL2000PLC106824	SANDHAR INFOSYSTEMS LIMITED.	Director	17/07/2000	17/07/2000	-	Active	NO
4	U67120DL2001PTC110707	KDB INVESTMENTS PRIVATE LIMITED	Director	04/05/2001	04/05/2001	-	Active	NO
5	U28939DL2002PTC114374	SANDHAR TOOLING PRIVATE LIMITED	Director	26/02/2002	26/02/2002	-	Active	NO
6	U34300DL2003PLC123094	SLD AUTO ANCILLARY LIMITED	Director	17/11/2003	17/11/2003	-	Active	NO
7	L31500UP1991PLC012944	PHOENIX LAMPS LIMITED	Director	30/07/2007	25/09/2006	11/08/2010	Active	NO
8	U45400HR2007PTC037085	HARIDWAR ESTATES PRIVATE LIMITED	Director	06/08/2007	06/08/2007	-	Active	NO
9	U72200HR2008PTC038145	CONTECH INFOSYSTEMS PRIVATE LIMITED	Director	08/07/2008	08/07/2008	-	Strike off	NO
10	U51109DL2007PTC168447	RAASAA RETAIL PRIVATE LIMITED	Director	30/09/2010	20/03/2010	-	Active	NO
11	U34300DL2005PTC139826	SANDHAR CAAMA COMPONENTS PRIVATE LIMITED	Director	30/09/2010	30/07/2010	14/05/2011	Active	NO
12	L34300PB1973PLC003301	G S AUTO INTERNATIONAL LIMITED	Director	30/09/2011	02/08/2011	10/04/2013	Active	NO
13	L27100PB2010PLC033930	VARDHMAN SPECIAL STEELS LIMITED	Additional director	09/11/2013	09/11/2013	-	Active	NO

Name :	Mrs. Monica Davar
Designation :	Director
Address :	B-5/82, Safdarjung Enclave, New Delhi – 110029, India
Date of Birth/Age :	07.09.1965
Date of Appointment :	24.10.1987
DIN No.:	00100875

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	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	24/10/1987	24/10/1987	Active	NO
2	U74899DL1992PTC049768	SUPANAVI TRADING AND FINANCE CONSULTANTS PRIVATE LIMITED	Director	06/10/1997	06/10/1997	Active	NO

Name :	Mr. Ravinder Nagpal
Designation :	Director
Address :	B – 8/14 First Floor, Vasant Vihar, New Delhi – 110057, India
Date of Birth/Age :	06.04.1956
Date of Appointment :	21.11.2001
DIN No.:	00102970

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	U74899DL1995PTC064358	CROWN TECHNO PROJECTS PRIVATE LIMITED	Director	17/06/1997	17/06/1997	14/11/2009	Active	NO
2	U51420DL2000PTC106751	MAURITIUS TITANIUM INDIA PRIVATE LIMITED	Director	05/09/2000	05/09/2000	-	Strike off	NO
3	U74899DL2000PLC106824	SANDHAR INFOSYSTEMS LIMITED.	Director	30/09/2000	30/09/2000	18/11/2010	Active	NO
4	U74899DL1994PTC059987	RRR INSURANCE SERVICES PRIVATE LIMITED	Director	09/11/2001	09/11/2001	-	Active	NO
5	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	21/11/2001	21/11/2001	-	Active	NO
6	U51909DL1996PTC079396	J- LAND BUSINESS SOLUTIONS PRIVATE LIMITED	Director	01/05/2002	01/05/2002	-	Active	NO
7	U74899DL1994PTC063637	UTSAV BUSINESS SOLUTIONS PRIVATE LIMITED	Director	01/08/2002	01/08/2002	-	Active	NO
8	U74899DL1995PTC074485	NAGRAM CONSULTANCY SERVICES PRIVATE LIMITED	Director	09/11/2002	09/11/2002	-	Active	NO
9	U74899DL1973PLC006634	PREMIER MICROWAVES LIMITED	Director	20/08/2003	20/08/2003	-	Active	NO
10	U70102DL2007PTC162084	PRERNA INFRADEVELOPERS PRIVATE LIMITED	Additional director	16/06/2008	16/06/2008	20/11/2008	Active	NO
11	U45200DL2007PTC161249	HANSRAJ BUILDMART PRIVATE LIMITED	Additional director	14/07/2008	14/07/2008	-	Active	NO
12	U45200DL2006PTC156660	MOUNTAIN LANDMARK PRIVATE LIMITED	Director	30/09/2008	14/07/2008	01/11/2011	Active	NO
13	U74140DL2008FTC182073	CXC CONSULTANTS PRIVATE LIMITED	Director	14/08/2008	14/08/2008	10/03/2011	Active	NO
14	U93000DL2010PTC199554	KARANRAVI CONSULTANCY SERVICES PRIVATE LIMITED	Director	26/02/2010	26/02/2010	-	Active	NO

Name :	Mr. Krishan Lal Chugh
Designation :	Director
Address :	N-79, Panchsheel Park, New Delhi – 110017, India
Date of Birth/Age :	13.09.1937
Date of Appointment :	14.03.2003
DIN No.:	00140124

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	U34101DL1993PLC053032	URBAN MASS TRANSIT COMPANY LIMITED	Director	07/09/1993	07/09/1993	25/02/2009	Active	NO
2	L63011TG1995PLC020121	GATI LIMITED	Director	30/06/1998	30/06/1998	-	Active	NO
3	U74899DL2001PTC109318	COSMOS BIOTECHNOLOGIES PRIVATE LIMITED	Director	22/01/2001	22/01/2001	-	Amalgamated	NO
4	U74999DL2001PTC112838	KULLU VALLEY POWER PRIVATE LIMITED	Director	16/10/2001	16/10/2001	-	Active	NO
5	U40101DL2001PTC113298	FOZAL POWER PRIVATE LIMITED	Director	28/11/2001	28/11/2001	-	Active	NO
6	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	14/03/2003	14/03/2003	-	Active	NO
7	U74999DL2003PTC122225	COSMOS CARBON CREDITS PRIVATE LIMITED	Director	11/09/2003	11/09/2003	-	Amalgamated	NO
8	U40109DL2003PTC123184	COSMOS ELECTRIC SUPPLY PRIVATE LIMITED	Director	21/11/2003	21/11/2003	-	Amalgamated	NO
9	U40106DL2004PTC129261	COSMOS IGNITE INNOVATIONS PRIVATE LIMITED	Director	22/01/2005	22/01/2005	18/01/2010	Active	NO
10	L74899DL1995PLC066827	SPICE COMMUNICATIONS LIMITED	Director	10/05/2006	10/05/2006	23/10/2008	Amalgamated	NO
11	L72900UP1986PLC008448	S MOBILITY LIMITED	Director	27/06/2008	27/10/2007	05/11/2012	Active	NO
12	U45201DL2004PTC130704	SOLARYAN TECHNOLOGIES PRIVATE LIMITED	Director	30/09/2008	09/07/2008	-	Active	NO
13	U72900DL2008PTC178018	SPICE INNOVATIVE TECHNOLOGIES PRIVATE LIMITED	Additional director	04/09/2008	04/09/2008	02/08/2009	Active	NO
14	U64202DL2004PLC127093	SPICE SMART SOLUTIONS LIMITED	Director	03/09/2009	01/01/2009	21/12/2009	Active	NO
15	U72300DL2006PLC156367	BHARAT BPO SERVICES LIMITED	Director	04/09/2009	01/01/2009	10/03/2013	Active	NO
16	U72900DL2000PLC104989	SPICE DIGITAL LIMITED	Director	29/09/2010	25/05/2010	02/07/2012	Active	NO
17	U32201HP1988PLC008020	SPICE RETAIL LIMITED	Director	05/08/2010	05/08/2010	02/07/2012	Active	NO
18	U85110DL1991PTC042646	SAKET CITY HOSPITALS PRIVATE LIMITED	Director	22/07/2011	22/07/2011	19/09/2012	Active	NO
19	U93090UP2007PTC033308	SMARTVALUE VENTURES PRIVATE LIMITED	Director	31/12/2013	11/12/2012	-	Active	NO

Name :	Mr. Mohan Lal Bhagat
Designation :	Director
Address :	24-B, New Road, Ali Pore, Kolkata, West Bengal – 700027, India
Date of Birth/Age :	23.06.1935
Date of Appointment :	02.02.1993
DIN No.:	00699750

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	U67120WB1979PLC031889	OLYMPIC INVESTMENTS LIMITED.	Director	18/02/1980	18/02/1980	Strike off	NO
2	L29265WB1957PLC023379	WIRES AND FABRIKS (SA) LIMITED	Director	08/07/1992	08/07/1992	Active	NO
3	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Director	02/02/1993	02/02/1993	Active	NO

Name :	Mr. Arvind Joshi
Designation :	Whole Time Director
Address :	G-39, 2^nd Floor, Kirti Nagar, New Delhi – 110015, India
Date of Birth/Age :	25.09.1966
Date of Appointment :	01.06.2013
DIN No.:	01877905

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	U51109WB1994PTC066487	JOSHI VINTRADE PRIVATE LIMITED	Director	12/12/1994	12/12/1994	Active	NO
2	U28931DL2008PTC174381	INDO TOOLINGS PRIVATE LIMITED	Director	22/02/2008	22/02/2008	Active	NO
3	U74999MP2004SGC020090	PITHAMPUR AUTO CLUSTER LIMITED	Nominee director	25/04/2008	25/04/2008	Active	NO
4	U34300DL2005PTC139826	SANDHAR CAAMA COMPONENTS PRIVATE LIMITED	Director	30/09/2010	30/07/2010	Active	NO
5	U28999DL1986PTC248633	MAG ENGINEERING PRIVATE LIMITED	Additional director	02/08/2012	02/08/2012	Amalgamated	NO
6	U28939DL2002PTC114374	SANDHAR TOOLING PRIVATE LIMITED	Additional director	19/09/2012	19/09/2012	Active	NO
7	U34360DL1987PLC029553	SANDHAR TECHNOLOGIES LIMITED	Whole-time director	01/06/2013	01/06/2013	Active	NO
8	U28100DL2014PTC268126	SANDHAR HAN SUNG TECHNOLOGIES PRIVATE LIMITED	Director	20/06/2014	20/06/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Arvind Joshi
Designation :	Secretary
Address :	G-39, 2^nd Floor, Kirti Nagar, New Delhi – 110015, India
Date of Birth/Age :	25.09.1966
Date of Appointment :	04.12.2006
PAN No.:	AEHPJ6988M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 03.07.2013

Names of Shareholders	No. of Shares
Jayant Davar	30825907
Monica Davar	2622725
Master Neeljay Davar	1555995
D. N. Davar	839582
Santosh Davar	785950
Poonam Juneja	62265
Sandhar Estates Private Limited, India	350280
YSG Estates Private Limited, India	1662032
Sanjeevni Impex Private Limited, India	1667727
Sandhar Enterprises, India	90909
Sandhar Infosystems Limited, India	793569
Jubin Finance and Investment Limited, India	573508
Baby Nova Capital PTE Limited, Singapore	5038401
TOTAL	46868850

AS ON 03.07.2013

Equity Shares Break Up	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	10.75
Bodies corporate	10.96
Directors or relatives of Directors	78.29
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Auto components for two wheeler and four wheelers Industry.
Products :	· Locking Systems · Vision Systems · Handles · Latches and Hinges · Sheet Metal Stamping · Zinc Die Casting · Aluminum Die Casting · Plastic Injection Molding · Wheel Rims and Assemblies · Handle Bars · Clutch and Brake Panels · Fender and Muffler  Assemblies · Moulds and Dies · Fabrication

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, India
• CITI Bank N.A., Jeevan Vihar, 3 Sansad Marg, New Delhi - 110001, Delhi, India
• Indusind Bank Limited, Dr. Gopal Das Building, 28, Barakhamba Road, New Delhi – 110001 , India
• The Hongkong and Shanghai Banking Corporation Limited, Birla House, 25, Barakhamba Road, New Delhi – 110001, India
• ING Vysysa Bank Limited, Narian Manzil, Ground Floor, Shop No.61 to G5, I FLO, Shop No.1001 to 1007, Barakhamba Road, New Delhi-110001, India
• ICICI Bank Limited, Landmark Race Course Circle, Alkapuri, Baroda-390015, Gujarat, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2013	Rs. In Millions 31.03.2012
Long Term Borrowings
Term Loans from Banks	513.719	872.858
Foreign currency term loans from banks	174.688	0.000
Term Loans from Others	564.291	0.461
Short Term Borrowings
Working Capital Loans from Banks	304.676	339.630
TOTAL	1557.374	1212.949

Banking Relations :	--
Financial Institution :	Aditya Birla Finance Limited, Indian Rayon Compound, Veraval – 362266, Gujarat, India
Auditors :
Name :	S. R. Batliboi and Company Chartered Accountants
Address :	Tower B, Sector-42, Gurgaon, Haryana, India
PAN No.:	AALFS0506L
Joint Venture :	Sandhar Caama Components Private Limited CIN No. U34300DL2005PTC139826 Indo Toolings Private Limited CIN No. U28931DL2008PTC174381
Related Parties :	· Sanjeevni Impex Private Limited CIN No. U74140DL2000PTC106407 · Sld Auto Ancillary Limited CIN No. U34300DL2003PLC123094 · Sandhar Infosystemslimited CIN No. U74899DL2000PLC106824 · Sandhar Estatesprivate Limited CIN No. U51109DL2000PTC106728 · Ysg Estates Private Limited CIN No. U45201DL2001PTC113333 · Kdb Investments Private Limited CIN No. U67120DL2001PTC110707 · Jubin Finance And Investment Limited CIN No. U65910HR1995PLC032801 · Swaran Enterprises
Subsidiaries :	· PT. Sandhar Indonesia · Sandhar Technologies Barcelona SL · Sandhar Tooling Private Limited CIN No. U28939DL2002PTC114374

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
115750000	Equity Shares	Rs.2/- each	Rs.231.500 Millions
200000	Preference Shares	Rs.100/- each	Rs. 20.000 Millions
	TOTAL		Rs.251.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46868850	Equity Shares	Rs.2/- each	Rs.93.738 Millions

AS ON 03.07.2013

Authorised Capital : Rs. 301.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46868850	Equity Shares	Rs.2/- each	Rs.93.738 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	93.738	93.738	102.683
(b) Reserves & Surplus	1605.340	1226.537	1405.318
(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)	1699.078	1320.275	1508.001
(3) Non-Current Liabilities
(a) long-term borrowings	1,252.698	873.319	620.116
(b) Deferred tax liabilities (Net)	113.955	108.223	109.440
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	13.024
Total Non-current Liabilities (3)	1,366.653	981.542	742.580
(4) Current Liabilities
(a) Short term borrowings	304.676	339.630	134.176
(b) Trade payables	1,265.181	1169.201	811.164
(c) Other current liabilities	720.625	366.146	448.618
(d) Short-term provisions	150.531	68.595	144.576
Total Current Liabilities (4)	2441.013	1943.572	1538.534
TOTAL	5506.744	4245.389	3789.115
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3,186.695	2288.832	1830.629
(ii) Intangible Assets	43.779	37.814	26.939
(iii) Capital work-in-progress	164.091	80.330	285.525
(iv) Intangible assets under development	5.943	6.047	3.761
(b) Non-current Investments	354.987	282.057	255.092
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	168.267	142.298	144.411
(e) Other Non-current assets	0.000	0.000	6.139
Total Non-Current Assets	3,923.762	2,837.378	2,552.496
(2) Current assets
(a) Current investments	37.108	0.000	0.000
(b) Inventories	572.689	494.882	386.032
(c) Trade receivables	784.813	799.962	733.588
(d) Cash and cash equivalents	59.065	34.838	20.480
(e) Short-term loans and advances	122.057	76.147	96.307
(f) Other current assets	7.250	2.182	0.212
Total Current Assets	1582.982	1408.011	1236.619
TOTAL	5506.744	4245.389	3789.115

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	9623.669	8736.847	7207.551
	Other Income	35.528	23.662	30.037
	TOTAL (A)	9659.197	8760.509	7237.588
Less	EXPENSES
	Cost of Goods Sold	6650.431	6111.794	4962.895
	Exception Items	0.000	0.000	2.905
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(89.900)	(24.761)	(13.322)
	Employees benefits expense	1009.460	798.754	630.437
	Other expenses	1209.513	1036.154	903.800
	TOTAL (B)	8779.504	7921.941	6486.715
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	879.693	838.568	750.873
Less	FINANCIAL EXPENSES (D)	311.578	196.281	141.382
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	568.115	642.287	609.491
Less/ Add	DEPRECIATION/ AMORTISATION (F)	284.424	241.835	227.828
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	283.691	400.452	381.663
Less	TAX (I)	55.031	116.606	127.928
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	228.660	283.846	253.735
	Earnings / (Loss) Per Share (Rs.)	4.88	5.67	4.94

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.37	3.24	3.51
Net Profit Margin (PBT/Sales)	(%)	2.95	5.56	5.30
Return on Total Assets (PBT/Total Assets}	(%)	5.69	10.33	11.76
Return on Investment (ROI) (PBT/Networth)		0.17	0.30	0.25
Debt Equity Ratio (Total Debt /Networth)		0.92	0.92	0.50
Current Ratio (Current Asset/Current Liability)		0.65	0.72	0.80

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	102.683	93.738	93.738
Reserves & Surplus	1,405.318	1,226.537	1,605.340
Net worth	1,508.001	1,320.275	1,699.078
long-term borrowings	620.116	873.319	1,252.698
Short term borrowings	134.176	339.630	304.676
Total borrowings	754.292	1,212.949	1,557.374
Debt/Equity ratio	0.500	0.919	0.917

YEAR ON YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	7,207.551	8,736.847	9,623.669
		21.218	10.150

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR)	(INR)	(INR)
Sales	7,207.551	8,736.847	9,623.669
Profit	253.735	283.846	228.660
	3.52%	3.25%	2.38%

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	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

INDEX OF CHARGES

S. No	Charge ID	Date of Charge Creation /Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN
1	10504040	16/04/2014	100,000,000.00	ING VYSYA BANK LIMITED	NARIAN MANZIL GROUND FLOOR, SHOP NO. G1 TO G5, I  FLOOR, SHOP NO.1001 TO 1007, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	C07241615
2	10475546	01/04/2014 *	333,400,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	C06085427
3	10468081	26/12/2013	80,000,000.00	INDUSIND BANK LTD.	DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B92694579
4	10459425	04/04/2014 *	150,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR.  ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA -  400018, INDIA	C04887741
5	10450875	07/02/2014 *	150,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B97093314
6	10450872	16/05/2014 *	50,000,000.00	ICICI BANK LIMITED	ICICI BANK LIMITED, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	C05119680
7	10427412	03/12/2013 *	253,350,000.00	ING VYSYA BANK LIMITED	NARIAN MANZIL,GROUND FLOOR,SHOP NO. G1 TO G5,I FLO, SHOP NO.1001 TO 1007,BARAKHAMBA ROAD,, NEW DELH  I, DELHI - 110001, INDIA	B91824383
8	10360168	22/01/2014 *	224,000,000.00	DBS BANK LTD. (ACTING AS A SECURITY TRUSTEE FOR DBS SINGAPORE)	CAPITOL POINT, BABA KHARAK SINGH MARG, CONNAUGHT  PLACE, NEW DELHI, DELHI - 110001, INDIA	B96546569
9	10351573	22/01/2014 *	500,000,000.00	GE MONEY FINANCIAL SERVICES PRIVATE LIMITED	401 402 4TH FLOORAGGARWAL MILLENIUM TOWER, E1 2 3  NETAJI SUBHASH PLACE, PITAMPURA DELHI, DELHI - 11  0034, INDIA	B98590458
10	10344554	27/12/2012 *	316,000,000.00	INDUSIND BANK LIMITED.	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA	B66570334
11	10320289	22/01/2014 *	68,800,000.00	CITIBANK N.A	DLF SQUARE, 9TH FLOOR, JACARANDA MARG, M BLOCK, D  LF CITY, PHASE II, GURGAON, HARYANA - 122002, INDIA	C00254938
12	10314129	13/02/2012 *	100,000,000.00	INDUSIND BANK LIMITED.	DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B34431072
13	10314131	13/02/2012 *	50,000,000.00	INDUSIND BANK LIMITED.	DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B34431718
14	10287334	30/04/2011	202,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	B13079926
15	10257302	19/09/2012 *	100,000,000.00	INDUSIND BANK LIMITED.	DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B60967379
16	10212639	11/11/2010 *	150,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA -  400018, INDIA	B02006054
17	10198873	13/02/2012 *	350,000,000.00	INDUSIND BANK LIMITED.	DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B34432385
18	10172726	18/08/2009	260,000,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	A68621325
19	10162321	01/05/2012 *	637,200,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA TOWER, 25 BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA	B39781307
20	10152468	31/08/2011 *	550,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B20786331
21	10152990	22/01/2014 *	250,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE,, 25, BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA	B98686868
22	10079706	11/10/2012 *	270,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE, 25 BARAKHAMBA ROAD, NEW DELHI, DELHI  - 110001, INDIA	B59718296
23	10079705	22/01/2014 *	270,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA HOUSE,, 25, BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA	B98686025
24	80011358	11/08/2006 *	35,000,000.00	CITIBANK NA	JEEVAN VIHAR BUILDING, 3 SANSAD MARG, NEW DELHI,  DELHI - 110001, INDIA	-
25	80011359	11/08/2006 *	35,000,000.00	CITIBANK NA	JEEVAN VIHAR BUILDING, 3 SANSAD MARG, NEW DELHI,  DELHI - 110001, INDIA	-
26	80035508	19/11/2003	42,000,000.00	CITI BANK N A	JEEVAN VIHAR, 3 SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA	-
27	80035506	11/12/2002	70,000,000.00	CITI BANK NA	JEEVAN VIHAR, 3 SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA	-
28	90057848	22/01/2014 *	90,000,000.00	CITIBANK N.A	DLF SQUARE, 9TH FLOOR, JACARANDA MARG, M BLOCK, DLF CITY, PHASE II, GURGAON, HARYANA - 122002, INDIA	C00257519
29	90192351	15/10/2009 *	129,585,000.00	BANK OF INDIA	CANTONMENT BRANCH, NO. 49, JYOTHI MAHAL, ST. MARKS ROAD, BANGALORE, KARNATAKA - 560001, INDIA	A74541053
30	90190138	31/03/1987	600,000.00	M/S KARNATAKA STATE FINANCIAL CORPORATION	NO. 48; 1ST FLOOR, CHURCH STREET, BANGALORE, KARNATAKA - 560001, INDIA	-
* Date of charge modification

CORPORATE INFORMATION

Subject is a public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is primarily engaged in the manufacturing and assembling of automotive components such as locksets, mirrors and various sheet metal components for two wheelers and four wheelers segments.

FINANCIAL RESULTS

The Company’s Gross Revenue from Operations, inclusive of the one of Delhi High Courts approved merged enterprise Mag Engineering Private Limited, witnessed an increase of 11.56%, up from Rs. 9497.900 Millions to Rs. 10596.000 Millions, in the year, despite the ongoing slowdown in the auto sector, with contemporaneous affect understandably in the auto components segment of the economy. The underlying financials have also been affected by continued and somewhat unremitting increase in input costs, especially materials; energy and labour, with none too queer combination of phenomenon of inflation governing primary and secondary costs and regression in volume and sales value, arising from the OEM?s own business situation accentuated by sensitivity of lending interest rates.

In the case of the Company, apart from drop in business margin for reasons as mentioned hereinbefore, interest cost has been propelled considerably by borrowings contracted for acquisition of erstwhile Mag Engineering Private Limited which, on this count alone, was of the order of Rs. 73.500 Millions. The depreciation charge has equally seen a spurt: all the above-said have affected the net profit, though the crucial aspect of cash flow has not been affected so much with the one in the previous year.

The challenges ahead are one of business growth and that too with reasonable margins: the overall outlook for turnaround in the current year, appears to be a mixed one, shrinking margins are even more problematic, with cash flow management remaining an area of concern. All possible steps are being taken to meet the aforesaid on the ground challenges with focus on Research and Development, holding over deferrable capital expenditure, cutting down on operational expenses without sacrificing effectiveness and capability to move ahead and, of all, ensuring efficacious management of cash flow. In short, corporate strategies are planned to be focused on creating value on the one hand and managing risk and improving enterprise performance on the other, hoping, at the same time, that the turnaround for the sector is not far too distant.

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Vehicles
• 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. 59.72
UK Pound	1	Rs. 102.45
Euro	1	Rs. 81.54

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	DIV
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--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		50

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.