MIRA INFORM REPORT

Report Date :

25.07.2014

IDENTIFICATION DETAILS

Name :	MODY INDUSTRIES (FOREIGN COLLABOBATION) PRIVATE LIMITED
Registered Office :	Trinity Plaza, 3^rd Floor, 84/1A, Topsia Road (South), Kolkata – 700046, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	28.08.1957
Com. Reg. No.:	21-195643
Capital Investment / Paid-up Capital :	Rs. 2.262 Millions
CIN No.: [Company Identification No.]	U29120WB1957PTC195643
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Submersible Dewater pump, Sewage pump, Non clock pump
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 470000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – 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 with 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.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Vikas
Designation :	Sales Head
Contact No.:	91- 22-25823850
Date :	23.07.2014

LOCATIONS

Registered Office :	Trinity Plaza, 3^rd Floor, 84/1A, Topsia Road (South), Kolkata – 700046, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91- 9702202006 ( Mr. Vikas)
Fax No.:	Not Available
E-Mail :	sales@modyindustries.com / vvg@modyindustries.com
Website :	http://www.modyindustries.com
Location :	Owned
Factory Office :	Plot no. C – 41, Road 34, Wagle Industrial Estate, Thane – 400604, India
Tel. No.:	91-22-25823850 / 25811644
Fax No.:	91-22-25828217

DIRECTORS

As on: 27.07.2013

Name :

Mr. Vishwanath Agarwal

Designation :

Director

Address :

5, Raja Santosh Road, Alipore, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

15.01.1939

Date of Appointment :

12.02.2013

PAN No.:

ACMPA9017B

DIN No.:

00408731

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	U70109WB1970PLC027719	V N ENTERPRISES LTD	Director	04/05/1970	04/05/1970	-	Active	NO
2	U31900TN1979PLC007872	OLDHAM MONITORING SYSTEMS LIMITED	Director	25/10/1980	25/10/1980	-	Dormant	NO
3	L70109WB1947PLC015087	BENGAL STEEL INDUSTRIES LTD	Director	24/02/1984	24/02/1984	-	Active	NO
4	U45203WB1984PLC037521	HUWOOD INDIA LIMITED.	Director	24/05/1984	24/05/1984	-	Amalgamated	NO
5	U70101WB1986PLC041452	BENGAL CENTRAL BUILDING SOCIETY LTD	Director	31/10/1986	31/10/1986	31/03/2010	Active	NO
6	U65993WB1986PLC041606	HSM INVESTMENTS LTD	Director	10/12/1986	10/12/1986	-	Active	NO
7	L01132WB1979PLC032246	TEA TIME LIMITED	Director	01/08/1990	01/08/1990	-	Active	NO
8	U29219WB1993PLC058017	SPAANS BABCOCK INDIA LTD.	Director	10/03/1993	10/03/1993	-	Active	NO
9	L51109WB1981PLC034037	ASUTOSH ENTERPRISES LTD	Director	13/05/1993	13/05/1993	-	Active	NO
10	L27310WB1981PLC034139	ORIENT INTERNATIONAL LIMITED.	Director	21/05/1993	21/05/1993	-	Active	NO
11	U51909WB1994PTC065388	SAGARPRIYA DISTRIBUTORS PRIVATE LIMITED	Director	05/10/1994	05/10/1994	-	Active	NO
12	U45203WB1995PTC070098	AKA WASHERIES (INDIA) PVT. LTD.	Director	28/03/1995	28/03/1995	31/03/2010	Active	NO
13	L51909WB1982PLC034494	NEPTUNE EXPORTS LIMITED	Director	27/02/1997	27/02/1997	-	Active	NO
14	U17118WB1991PTC053917	B.K COMMERCIAL & ENTERPRISES PRIVATE LIMITED	Director	18/12/1998	18/12/1998	-	Amalgamated	NO
15	L36900WB1952PLC020274	WPIL LIMITED	Director	26/04/2001	26/04/2001	-	Active	NO
16	L27120WB1947PLC015767	HINDUSTHAN UDYOG LTD	Managing director	01/01/2012	01/01/2004	-	Active	NO
17	L45400WB1983PLC035987	NORTHERN PROJECTS LTD	Director	06/12/2004	06/12/2004	-	Active	NO
18	U27300WB1992PLC124790	ACC-NIHON CASTINGS LTD	Director	12/07/2007	12/07/2007	-	Amalgamated	NO
19	U28999WB1995PLC072335	HINDUSTHAN PARSONS LTD.	Director	31/08/2010	13/02/2010	-	Active	NO
20	U29120WB1957PTC195643	MODY INDUSTRIES (FOREIGN COLLABORATION) PRIVATE LIMITED	Director	12/02/2013	04/01/2013	-	Active	NO
21	U45203WB1995PTC071945	HUWOOD HINDUSTHAN PVT LTD	Additional director	13/05/2013	13/05/2013	22/05/2013	Active	NO

Name :

Mr. Prakash Agarwal

Designation :

Director

Address :

5, Raja Santosh Road, Alipore, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

14.07.1971

Date of Appointment :

12.02.2013

PAN No.:

ACMPA9020A

DIN No.:

00249468

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	U70109WB1970PLC027719	V N ENTERPRISES LTD	Director	14/07/1993	14/07/1993	-	Active	NO
2	U51909WB1994PTC065389	REVOX ENTERPRISES PRIVATE LTD.	Director	10/04/1995	10/04/1995	-	Active	NO
3	U24294TN1991PLC021173	BHARAT OIL AND CHEMICAL INDUSTRIES LTD	Director	20/07/1995	20/07/1995	31/03/2010	Active	NO
4	U28999WB1995PLC072335	HINDUSTHAN PARSONS LTD.	Director	02/01/1997	02/01/1997	-	Active	NO
5	U74899DL1973PTC006578	GOYAL MG GASES PRIVATE LIMITED	Director	14/03/1997	14/03/1997	19/07/2011	Active	NO
6	U31103WB1984PLC037646	MACNEILL ELECTRICALS LTD	Director	19/05/1998	19/05/1998	-	Active	NO
7	U29219WB1993PLC058017	SPAANS BABCOCK INDIA LTD.	Director	10/08/1998	10/08/1998	-	Active	NO
8	L27120WB1947PLC015767	HINDUSTHAN UDYOG LTD	Director	09/12/1998	09/12/1998	-	Active	NO
9	U55204WB1985PTC039519	NORTH-EAST ENTERPRISES PRIVATE LIMITED	Director	18/12/1998	18/12/1998	-	Amalgamated	NO
10	U65993WB1986PLC041606	HSM INVESTMENTS LTD	Director	21/12/1998	21/12/1998	-	Active	NO
11	U67120DL1996PTC077623	MORGAN SECURITIES AND CREDITS PRIVATE LIMITED	Director	11/01/1999	11/01/1999	19/07/2011	Active	NO
12	U45203WB1995PTC070098	AKA WASHERIES (INDIA) PVT. LTD.	Director	14/04/1999	14/04/1999	31/03/2010	Active	NO
13	U31900TN1979PLC007872	OLDHAM MONITORING SYSTEMS LIMITED	Director	31/07/1999	31/07/1999	-	Dormant	NO
14	U45203WB1984PLC037521	HUWOOD INDIA LIMITED.	Director	24/09/1999	24/09/1999	-	Amalgamated	NO
15	L70109WB1947PLC015087	BENGAL STEEL INDUSTRIES LTD	Director	11/12/1999	11/12/1999	-	Active	NO
16	L70109DL1986PLC025841	Morgan Ventures Limited	Director	05/04/2000	05/04/2000	30/08/2011	Active	NO
17	U45201DL1997PTC084184	LIVE-LIFE BUILDCON PRIVATE LIMITED	Director	07/02/2005	07/02/2005	-	Active	NO
18	U65923DL1997PTC087163	MORGAN FINVEST PRIVATE LIMITED.	Director	07/02/2005	07/02/2005	-	Active	NO
19	L36900WB1952PLC020274	WPIL LIMITED	Managing director	01/11/2013	01/07/2005	-	Active	NO
20	U27300WB1992PLC124790	ACC-NIHON CASTINGS LTD	Director	12/07/2007	12/07/2007	-	Amalgamated	NO
21	U29130DL2008PTC178238	CLYDE PUMPS INDIA PRIVATE LIMITED	Director	30/09/2009	23/07/2008	-	Active	NO
22	L60231AS1972PLC001393	ABC INDIA LIMITED	Director	04/09/2008	29/07/2008	28/05/2011	Active	NO
23	U29120WB1957PTC195643	MODY INDUSTRIES (FOREIGN COLLABORATION) PRIVATE LIMITED	Director	12/02/2013	11/10/2012	-	Active	NO

Name :

Mr. Krishna Kumar Ganeriwala

Designation :

Director

Address :

A – 42, C. I. T. Buildings 30, Madan Chatterjee Lane, Kolkata – 700007, West Bengal, India

Date of Birth/Age :

27.03.1963

Date of Appointment :

12.02.2013

PAN No.:

ADSPG3905B

DIN No.:

00408722

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	U31103WB1984PLC037646	MACNEILL ELECTRICALS LTD	Director	15/09/1990	15/09/1990	-	Active	NO
2	L51109WB1981PLC034037	ASUTOSH ENTERPRISES LTD	Director	20/10/1990	20/10/1990	-	Active	NO
3	L01132WB1979PLC032246	TEA TIME LIMITED	Director	24/09/1991	24/09/1991	-	Active	NO
4	L27310WB1981PLC034139	ORIENT INTERNATIONAL LIMITED.	Director	30/08/1993	30/08/1993	-	Active	NO
5	U28999WB1995PLC072335	HINDUSTHAN PARSONS LTD.	Director	26/06/1995	26/06/1995	-	Active	NO
6	L70109WB1947PLC015087	BENGAL STEEL INDUSTRIES LTD	Director	13/11/1998	13/11/1998	-	Active	NO
7	U31404TN1974PLC006534	TAMIL NADU ALAKALINE BATTERIES LIMITED	Director	03/11/1999	03/11/1999	-	Active	NO
8	U24294TN1991PLC021173	BHARAT OIL AND CHEMICAL INDUSTRIES LTD	Director	30/11/1999	30/11/1999	-	Active	NO
9	U70109WB1970PLC027719	V N ENTERPRISES LTD	Director	06/04/2001	06/04/2001	-	Active	NO
10	L36900WB1952PLC020274	WPIL LIMITED	Whole-time director	01/11/2013	26/02/2002	-	Active	NO
11	U45203WB1995PTC071945	HUWOOD HINDUSTHAN PVT LTD	Director	30/09/2013	30/04/2002	-	Active	NO
12	L51909WB1982PLC034494	NEPTUNE EXPORTS LIMITED	Director	10/07/2004	10/07/2004	-	Active	NO
13	U27300WB1992PLC124790	ACC-NIHON CASTINGS LTD	Director	12/07/2007	12/07/2007	-	Amalgamated	NO
14	U45203WB1995PTC070098	AKA WASHERIES (INDIA) PVT. LTD.	Director	30/08/2010	24/03/2010	-	Active	NO
15	U70101WB1986PLC041452	BENGAL CENTRAL BUILDING SOCIETY LTD	Director	30/08/2010	24/03/2010	-	Active	NO
16	U29120WB1957PTC195643	MODY INDUSTRIES (FOREIGN COLLABORATION) PRIVATE LIMITED	Director	12/02/2013	11/10/2012	-	Active	NO

Name :

Mr. Brahma Prakash Khare

Designation :

Director

Address :

C – 55, Takshshila Apartments 57, I. P. Extension Patpar Ganj, Delhi – 110092, India

Date of Birth/Age :

10.07.1951

Date of Appointment :

12.02.2013

PAN No.:

AEPPK4408P

DIN No.:

02288814

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	U29130DL2008PTC178238	CLYDE PUMPS INDIA PRIVATE LIMITED	Director	30/09/2009	23/07/2008	-	Active	NO
2	U29120WB1957PTC195643	MODY INDUSTRIES (FOREIGN COLLABORATION) PRIVATE LIMITED	Director	12/02/2013	11/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vikas
Designation :	Sales Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 27.09.2013

Names of Shareholders	No. of Shares	% of Holding
WPIL Limited	22585	99.82
Prakash Agarwal	40	0.18
Total	22625	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 27.09.2013

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of submersible Dewater pump, Sewage pump, non-clock pump
Products :	· Submersible Dewater Pump · Submersible Sewage Pump · Submersible Non Clock Pump · M Series Submersible Pump · G series Submersible Pump · Non Clog and Sewage Pumps · Swimming Pool Cleaner Pump · Fire Fighting Pumps
Exports :
Products :	Finished Goods
Countries :	· USA · Middle East
Imports :
Products :	Raw Material
Countries :	Japan
Terms :
Selling :	Depend
Purchasing :	Depend

GENERAL INFORMATION

Suppliers :	Spartan Electricals
Customers :	Indus Construction Company
No. of Employees :	50 (Approximately)
Bankers :	IDBI Bank, Kolkata Main Branch, IDBI House, 44 Shakespeare Sarani, 2^nd Floor, Kolkata – 700017, West Bengal, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	S. L. Makhija and Company Chartered Accountants
Address :	701-B, Churchgate Chambers, 5 New Marine Lines, Mumbai – 400020, Maharshtra, India
Tel. No.:	91-22-61713690
Fax No.:	91-22-22703690
E-Mail :	slmco@slmco.net
PAN No.:	AADMP5843Q
Holding Company :	WPIL Limited, India CIN No. : L36900WB1952PLC020274
ENTERPRISES Which Are Owned, or Have Significant Influence of or Are Partners With Key Management Personnel and Their Relatives :	Griffin Wellpoint India Private Limited CIN No. : U74899DL1983PTC016223

CAPITAL STRUCTURE

As on: 31.03.2013

Authorized Capital:

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
22625	Equity Shares	Rs.100/- each	Rs. 2.262 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	2.262	2.262	2.262
(b) Reserves & Surplus	114.180	135.590	318.672
(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)	116.442	137.852	320.934
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.900	0.850	0.850
(d) long-term provisions	0.593	0.288	1.464
Total Non-current Liabilities (3)	1.493	1.138	2.314
(4) Current Liabilities
(a) Short term borrowings	10.000	0.000	0.000
(b) Trade payables	5.462	7.472	13.826
(c) Other current liabilities	5.417	14.076	11.588
(d) Short-term provisions	2.435	2.935	2.957
Total Current Liabilities (4)	23.314	24.483	28.371
TOTAL	141.249	163.473	351.619
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	41.037	42.803	44.816
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(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)	1.862	2.046	1.845
(d) Long-term Loan and Advances	3.595	2.513	2.739
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	46.494	47.362	49.400
(2) Current assets
(a) Current investments	0.000	17.642	204.110
(b) Inventories	41.277	40.700	37.015
(c) Trade receivables	39.823	36.110	40.178
(d) Cash and cash equivalents	12.571	18.858	15.894
(e) Short-term loans and advances	0.470	2.191	4.348
(f) Other current assets	0.614	0.610	0.674
Total Current Assets	94.755	116.111	302.219
TOTAL	141.249	163.473	351.619

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	204.590	217.501	NA
		Other Income	2.857	15.856	NA
		TOTAL (A)	207.447	233.357	NA
Less	EXPENSES
		Office Expenses			NA
		Administrative Expenses	128.853	139.254	NA
		Advertising Expenses			NA
		TOTAL (B)	128.853	139.254	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		78.594	94.103	NA
Less	FINANCIAL EXPENSES (D)		0.042	0.033	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		78.552	94.070	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.465	1.641	NA
	PROFIT BEFORE TAX (E-F) (G)		77.087	92.429	NA
Less	TAX (H)		26.184	25.706	NA
	PROFIT AFTER TAX (G-H) (I)		50.903	66.723	70.356
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.87	0.000	27.192
	TOTAL EARNINGS		0.87	0.000	27.192
	IMPORTS
		CIF Value of Imports	NA	5.237	4.567
	TOTAL IMPORTS		NA	5.237	4.567
	Earnings Per Share (Rs.)		2249.86	2949.08	3109.66

Expected Sales (2013-2014): Rs. 220.000 Millions

The above information has been parted by Mr. Vikas (Sales Head).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	24.54	28.59	0.00
Net Profit Margin (PBT/Sales)	(%)	37.68	42.50	0.00
Return on Total Assets (PBT/Total Assets}	(%)	55.30	57.26	0.00
Return on Investment (ROI) (PBT/Networth)		0.66	0.67	0.00
Debt Equity Ratio (Total Debt/Networth)		0.09	0.00	0.00
Current Ratio (Current Asset/Current Liability)		4.06	4.74	10.65

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	2.262	2.262	2.262
Reserves & Surplus	318.672	135.590	114.180
Net worth	320.934	137.852	116.442
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	10.000
Total borrowings	0.000	0.000	10.000
Debt/Equity ratio	0.000	0.000	0.086

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	217.501	204.590
		-5.936

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	217.501	204.590
Profit	66.723	50.903
	30.68%	24.88%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note: The Registered Office of the company has been shifted from Plot C – 41, Road No. 34, Wagle Industrial Estate, Thane, Maharashtra, India to the present address w.e.f. 28.05.2013.

UNSECURED LOAN

Particulars	As on 31.03.2013	As on 31.03.2012
	(Rs. In Millions)
SHORT TERM BORROWINGS:
Borrowings	10.000	0.000
Total	10.000	0.000

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10483600	12/03/2014	70,000,000.00	IDBI Bank Limited	KOLKATA MAIN BRANCH, IDBI HOUSE, 44 SHAKESPEARE S  ARANI, 2ND FLOOR, KOLKATA - 700017, WEST BENGAL, INDIA	B98910185

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computers

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 judgment 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.60.00
UK Pound	1	Rs.102.19
Euro	1	Rs.80.68

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	KAR
Report Prepared by :	JAY

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.