MIRA INFORM REPORT

Report Date :

21.03.2014

IDENTIFICATION DETAILS

Name :	MYK LATICRETE INDIA PRIVATE LIMITED (w.e.f 21.11.2007)
Formerly Known As :	LATICRETE INDIA PRIVATE LIMITED
Registered Office :	8-2-703/A, Leela Gopal Tower, Road No. 12, Banjara Hills, Hyderabad – 500034, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.05.1999
Com. Reg. No.:	01-031624
Capital Investment / Paid-up Capital :	Rs.32.604 Millions
CIN No.: [Company Identification No.]	U99999AP1999PTC031624
TAN No.: [Tax Deduction & Collection Account No.]	HYDL00422C
PAN No.: [Permanent Account No.]	AAACL5557E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Tiles Adhesives and Grocits.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1030000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The management has failed to file its financial with government department for the year 2013. As per available financial of 2012, general financial position of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

State-run banks hired nearly 300000 personnel including more than 94000 officers in the last four years, according to the Indian Banks Association. A study by trade lobby Assocham in September 2013 indicated that banks would need 800000 people in the next six years. It estimated that state-run lenders alone would hire 50000 people in 2013/14.

The Competition Commission of India plans to issue final orders within a broad time-frame of one year in matters where it decides to carry out detailed investigations. The number of complaints received by the watchdog which keeps tabs on unfair trade practices in the marketplace.

The government has detected custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.

Connaught Place in New Delhi slipped four notches to become the world’s eighth most expensive office locations. London’s West End is the world’s most expensive office market.

There are 4.072 mn number of high value spenders under the scanner of the income tax department. The income tax department has information that they have made cash deposits announcing to Rs 1 mn or more in their savings bank accounts in the current financial year. It plans to check potential evasion before the closing of the financial year on March 31.

Estimated pharmaceutical sales in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago. The life sciences and health care industry is up against challenges such as quality management, says a recent Deloitte report.

The gross non-performing assets of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore to their gross NPAs in nine months with the State Bank of India leading with the State Bank of India leading with an accretion of Rs 16610 crore.

The inflow of smuggled gold doubled in 2013 following restrictions to curb the supply from official channels to contain the current account deficit. China surpassed India in the demand for gold for the first time in 2013 due to liberalization of gold trading norms by its local governments.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB -
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	11.02.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Moderate degree of safety and high credit risk
Date	11.02.2014

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DENIED BY

Name :	Mr. Raghav Vaya
Designation :	Accounts Manager
Contact No.:	91-40-30413100
Date :	14.03.2014

LOCATIONS

Registered Office /Corporate Office :	8-2-703/A, Leela Gopal Tower, Road No. 12, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India
Tel. No.:	91-40-30413100
Fax No.:	91-40-23378784
E-Mail :	contact@myklaticrete.com raghu@laticreteindia.com
Website :	www.myklaticrete.com
Factory 1 :	C-21, Sotanala Industrial Area, Behror-301701, Alwar District.
Tel. No.:	91-8455-220119
Factory 2 :	Survey No. 314 and 316, Rudraram Village, Patancheru.
Tel. No.:	91-8455-220119
Fax No.:	91-8455-220424
Regional Offices :-	Located At: Ahmedabad Bangalore Bhubaneshwar Chennai Hubli Jaipur Kolkata Kochi Ludhiana Navi Mumbai Mangalore Delhi Pune Coimbatore Lucknow Nagpur Haryana Gaziabad

DIRECTORS

As on 22.09.2012

Name :

Mr. Murlidhar Yadama

Designation :

Managing Director

Address :

A/4 Trendset Ville, Road #3, Banijarahills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

16.04.1972

Date of Appointment :

04.05.1999

DIN No.:

00034952

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	U72200AP1998PTC029812	POINTSOFT PRIVATE LIMITED	Director	23/07/1998	23/07/1998	19/09/2007	Active	NO
2	U99999AP1999PTC031624	MYK LATICRETE INDIA PRIVATE LIMITED	Managing director	04/05/1999	04/05/1999	-	Active	NO
3	U40101AP2001PTC036228	PARUSHNI POWER PRIVATE LIMITED	Director	15/02/2001	15/02/2001	-	Active	NO
4	U51909AP1998PLC029396	REITZ INDIA LIMITED	Director	31/03/2001	31/03/2001	-	Active	NO
5	U17110AP1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Director	25/08/2003	25/08/2003	-	Active	NO
6	U28999AP2004PTC043454	BEMCI INDUSTRIES PRIVATE LIMITED	Director	10/06/2004	10/06/2004	12/02/2014	Active	NO
7	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	30/09/2005	05/05/2005	-	Active	NO
8	U24110AP2006PTC049719	MYK INDUSTRIES PRIVATE LIMITED	Director	04/04/2006	04/04/2006	-	Active	NO
9	U24114AP2006PTC050128	MYK SCHOMBURG INDIA PRIVATE LIMITED	Director	16/05/2006	16/05/2006	-	Active	NO
10	U65990AP2008PTC061323	MYK HOLDINGS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	-	Active	NO
11	U24299AP2010PTC068258	MYK CEMENT PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
12	U74120AP2011PTC074666	PRO-TEAM BUILDING SYSTEMS (INDIA) PRIVATE LIMITED	Director	25/05/2011	25/05/2011	-	Active	NO
13	U29100AP2011PTC074919	MYK TOOLS PRIVATE LIMITED	Director	09/06/2011	09/06/2011	-	Active	NO
14	U51909WB2010PTC149734	TOP CLASS VINIMAY PRIVATE LIMITED	Director	20/03/2012	20/03/2012	28/03/2012	Active	NO
15	U40106DL2012PTC236615	Sugandha Power Infratech Private Limited	Director	29/05/2012	29/05/2012	-	Strike off	NO
16	U40300AP2012PTC084712	VAIBHAV JYOTI POWER UTILITY SERVICES PRIVATE LIMITED	Director	10/12/2012	10/12/2012	-	Active	NO
17	U40300AP2013PTC086322	Sugandha Power Infrastructure Private Limited	Director	14/03/2013	14/03/2013	-	Active	NO

Name :

Mr. Muni Krishna Papagari

Designation :

Director

Address :

Plot No. 762, (Old No 263) Kamalapuri Colony, Phase II, Hyderabad-500073, Andhra Pradesh, India.

Date of Birth/Age :

01.02.1944

Date of Appointment :

01.04.2011

DIN No.:

00011580

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	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	10/02/1992	10/02/1992	-	Active	NO
2	U65993AP1995PTC022421	SUBHADRA INVESTMENTS PRIVATE LIMITED	Director	29/11/1995	29/11/1995	-	Active	NO
3	U17110AP1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Managing director	01/04/2011	24/07/1996	-	Active	NO
4	U51909AP1998PLC029396	REITZ INDIA LIMITED	Director	13/05/1998	13/05/1998	-	Active	NO
5	U26942AP1978PLC002288	RAASI CEMENT LIMITED	Director	04/06/1998	04/06/1998	15/03/2008	Active	NO
6	U72200AP1998PTC029812	POINTSOFT PRIVATE LIMITED	Director	23/07/1998	23/07/1998	19/09/2007	Active	NO
7	U01122AP1992PTC014781	SHREE SAI GARDENS PRIVATE LIMITED	Director	25/08/1999	25/08/1999	-	Active	NO
8	U99999AP1999PTC031624	MYK LATICRETE INDIA PRIVATE LIMITED	Director	21/10/1999	21/10/1999	-	Active	NO
9	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Managing director	18/12/2000	18/12/2000	-	Active	NO
10	U24114AP2006PTC050128	MYK SCHOMBURG INDIA PRIVATE LIMITED	Director	16/05/2006	16/05/2006	-	Active	NO
11	U65990AP2008PTC061323	MYK HOLDINGS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	-	Active	NO

Name :

Mr. Kirthi Krishna Yadama

Designation :

Director

Address :

A/4 Trendset Ville, Road #3, Banijarahills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

28.09.1974

Date of Appointment :

11.12.2000

DIN No.:

00505766

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	U74210AP1995PTC022179	MYK ENGINEERING PRIVATE LIMITED	Director	29/09/1998	29/09/1998	-	Active	NO
2	U74210AP1992PTC014782	TURBOVENT INDUSTRIES PRIVATE LIMITED	Director	22/02/2000	22/02/2000	24/09/2009	Active	NO
3	U99999AP1999PTC031624	MYK LATICRETE INDIA PRIVATE LIMITED	Director	11/12/2000	11/12/2000	-	Active	NO
4	U40101AP2001PTC036228	PARUSHNI POWER PRIVATE LIMITED	Director	15/02/2001	15/02/2001	-	Active	NO
5	U74999AP1995PTC021468	TURBO AGENCIES PRIVATE LIMITED	Director	13/07/2001	13/07/2001	31/03/2010	Active	NO
6	U14106AP2000PLC035749	TURBO CEMENT LIMITED	Director	31/03/2005	31/03/2005	-	Active	NO
7	U24110AP2006PTC049719	MYK INDUSTRIES PRIVATE LIMITED	Director	04/04/2006	04/04/2006	-	Active	NO
8	U17110AP1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Whole-time director	01/04/2009	01/01/2008	-	Active	NO
9	U45209AP2008PTC057739	TURBOTECH CONSTRUCTIONS PRIVATE LIMITED	Director	21/02/2008	21/02/2008	28/02/2009	Active	NO
10	U24299AP2010PTC068258	MYK CEMENT PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
11	U29100AP2011PTC074919	MYK TOOLS PRIVATE LIMITED	Director	09/06/2011	09/06/2011	-	Active	NO

Name :

Mr. Rothberg Allen David

Designation :

Director

Address :

30, Old Mill Road, Woodbridge, Connecticut-06525, USA.

Date of Birth/Age :

16.02.1954

Date of Appointment :

22.03.2000

DIN No.:

02644434

Name :

Mr. Brujin De Ernorgerard

Designation :

Director

Address :

3, Kensett Ridge, Norwalk, Connecticut-06851, USA

Date of Birth/Age :

08.03.1962

Date of Appointment :

22.03.2000

DIN No.:

02644440

KEY EXECUTIVES

Name :	Mr. Raghav Vaya
Designation :	Accounts Manager

MAJOR SHAREHOLDERS

As on 22.09.2012

Names of Shareholders	No. of Shares	% of Holding
Y. Muralidhar	1389200	42.61
Laticreteint Inc. USA	1630200	50.00
P. Munikrishna	56000	1.72
Kirthikrishna Yadama	130000	3.99
P. Sashi Krishna	55000	1.69
Total	3260400	100.00

Equity Share Break up (Percentage of Total Equity)

As on 22.09.2012

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Directors or relatives of Directors	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Tiles Adhesives and Grocits.

Products :

Product Description	Item Code No.
Thinset Adhesives and Grouts	321410
Latex Admixtures	382440

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Powders	MT	NA	84400	35722
Liquids	Ltrs	NA	720000	542380
Others	MT	NA	900	374.96

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

• State Bank of India, Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Hyderabad-500082, Andhra Pradesh, India
• Andhra Bank, R. P. Road Branch, R. P. Road, Secunderabad-500003, Andhra Pradesh, India

Facilities :

SECURED LOANS	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Term Loan
Andhra Bank Term Loan 3 – HYD	8.140	12.840
Andhra Bank Term Loan – 8948	29.076	0.000
Andhra Bank Term Loan Hyderabad 714	0.000	0.944
Short Term Borrowings
Loans repayable on demand
Working capital loans from bakes	136.187	79.625
Total	173.403	93.409

Note:

Long Term Borrowings

From bank

• Secured by equitable mortgage of company’s present and future buildings, factory land, plant and machinery, furniture and fittings.

• Term loan are guaranteed by directors

• Term loans is repayable in 20 quarterly installments with interest at 12.25%.

Short Term Borrowings

• secured by hypothecation of stocks and book debts

• Secured by equitable mortgage of company’s present and future buildings, factory land, plant and machinery, furniture and fittings.

Banking Relations :	--
Auditors :
Name :	C. Ramachandram And Company Chartered Accountant
Address :	3-6-237, 606, Lingapur La Building Complex, Himayathnagar, Hyderabad-500029, Andhra Pradesh, India.
PAN No.:	AABFC4266H
Subsidiaries :	MUK Tools India Private Limited (w.e.f. 07.06.2011)
Enterprise on which key management personnel or their relative have significant influence :	MYK Schomburg India Private Limited Parasakti Cement Industries Limited Bemci Industries Turbovent Industries Private Limited Shanghai Laticreate Building Materials Company Limited

CAPITAL STRUCTURE

As on 22.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs.35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3260400	Equity Shares	Rs.10/- each	Rs.32.604 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	32.604	32.604
(b) Reserves & Surplus	225.600	158.524
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	258.204	191.128
(3) Non-Current Liabilities
(a) long-term borrowings	48.748	27.160
(b) Deferred tax liabilities (Net)	21.495	25.172
(c) Other long term liabilities	1.432	1.581
(d) long-term provisions	6.455	4.618
Total Non-current Liabilities (3)	78.130	58.531
(4) Current Liabilities
(a) Short term borrowings	154.216	79.625
(b) Trade payables	98.548	69.698
(c) Other current liabilities	83.124	38.622
(d) Short-term provisions	57.096	34.324
Total Current Liabilities (4)	392.984	222.269
TOTAL	729.318	471.928
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	145.367	144.271
(ii) Intangible Assets	8.293	0.536
(iii) Capital work-in-progress	109.411	0.018
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.100	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	11.327	5.648
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	274.498	150.473
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	154.352	88.926
(c) Trade receivables	222.096	170.482
(d) Cash and cash equivalents	28.963	28.872
(e) Short-term loans and advances	48.126	23.547
(f) Other current assets	1.283	9.628
Total Current Assets	454.820	321.455
TOTAL	729.318	471.928

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		32.604
2] Share Application Money		0.000
3] Reserves & Surplus		101.631
4] (Accumulated Losses)		0.000
NETWORTH		134.235
LOAN FUNDS
1] Secured Loans		75.010
2] Unsecured Loans		10.255
TOTAL BORROWING		85.265
DEFERRED TAX LIABILITIES		8.572
TOTAL		228.072
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		73.652
Capital work-in-progress		7.007
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	58.614
	Sundry Debtors	120.252
	Cash & Bank Balances	19.759
	Other Current Assets	0.000
	Loans & Advances	42.453
Total Current Assets		241.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	68.280
	Other Current Liabilities	3.895
	Provisions	21.490
Total Current Liabilities		93.665
Net Current Assets		147.413
MISCELLANEOUS EXPENSES		0.000
TOTAL		228.072

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			716.726	490.224
		Other Income			1.688	1.198
		TOTAL (A)		983.140	718.414	491.422
Less	EXPENSES
		Material consumed			229.782	147.817
		Merchanting goods consumed			15.436	7.463
		Central excise duty			92.542	51.418
		Salaries, Wages and Benefits			96.757	75.816
		Manufacturing expenses			8.234	4.864
		Administrative, selling and distribution expenses			181.486	127.934
		Increase / Decrease in stock			(14.555)	5.455
		TOTAL (B)		860.586	609.682	420.767
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			122.554	108.732	70.655
Less	FINANCIAL EXPENSES (D)			16.612	11.453	7.829
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			105.942	97.279	62.826
Less	DEPRECIATION/ AMORTISATION (F)			10.459	7.314	4.797
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			95.483	89.965	58.029
Less	TAX (H)			28.407	33.072	20.238
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			67.076	56.893	37.791
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			158.524	101.631	63.841
	BALANCE CARRIED TO THE B/S			225.600	158.524	101.632
	EARNINGS IN FOREIGN CURRENCY
			Sales to Al Bigishi and Bangera Trading LLC	0.682	3.660	3.293
	TOTAL EARNINGS			0.682	3.660	3.293
	IMPORTS
			Capital Goods	23.950	0.000	0.000
			Raw Materials	22.921	28.391	29.151
			Merchanting Goods	0.000	12.680	8.709
	TOTAL IMPORTS			46.871	41.071	37.860
	Earnings Per Share (Rs.)			20.57	17.45	11.59

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.82	7.92	7.69
Net Profit Margin (PBT/Sales)	(%)	NA	12.55	11.84
Return on Total Assets (PBT/Total Assets}	(%)	15.41	19.06	18.44
Return on Investment (ROI) (PBT/Networth)		0.37	0.47	0.43
Debt Equity Ratio (Total Debt /Networth)		0.79	0.56	0.64
Current Ratio (Current Asset/Current Liability)		1.16	1.45	2.57

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions
Share Capital	32.604	32.604
Reserves & Surplus	158.524	225.600
Net worth	191.128	258.204
long-term borrowings	27.160	48.748
Short term borrowings	79.625	154.216
Total borrowings	106.785	202.964
Debt/Equity ratio	0.559	0.786

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	491.422	718.414	983.140
		46.191	36.849

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	491.422	718.414	983.140
Profit	37.791	56.893	67.076
	7.69%	7.92%	6.82%

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	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	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	No
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

UNSECURED LOANS:

Particulars	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Deferred payment liabilities
Interest fees sales tax loan	10.255	10.255
Long term maturities of finance lease obligation
Car loan from banks	1.277	3.121
Short Term Borrowings
Citi Bank N.A (Buyers Credit)	18.029	0.000
Total	29.561	13.376

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10378834	06/09/2013 *	190,000,000.00	State Bank Of India	Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Hyderabad, Andhra Pradesh - 500082, India	B84061209
2	10015676	20/07/2006	12,700,000.00	ANDHRA BANK	R.P. Road Branch, R. P. Road, Secunderabad, Andhra Pradesh - 500003, India	A02847861
3	90128338	08/03/2003	4,000,000.00	ANDHRA BANK	Rastrapathi Road, Secunderabad, Andhra Pradesh - 500003, India	-
4	90128096	18/03/2013 *	174,000,000.00	ANDHRA BANK	R. P. Road Branch, R. P. Road, Secunderabad, Andhra Pradesh - 500003, India	B73218000

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 records 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 records 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.61.13
UK Pound	1	Rs.101.17
Euro	1	Rs.84.59

INFORMATION DETAILS

Information Gathered by :	HTL
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	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		45

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NB		NEW BUSINESS

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.