MIRA INFORM REPORT

Report Date :

21.05.2014

IDENTIFICATION DETAILS

Name :	G. M. PENS INTERNATIONAL PRIVATE LIMITED
Registered Office :	No. 2, Janakpuri, Velachery Bye Pass Road, Velachery, Chennai – 605042, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	10.02.1995
Com. Reg. No.:	18-062444
Capital Investment / Paid-up Capital :	Rs. 85.000 Million
CIN No.: [Company Identification No.]	U35991TN1995PTC062444
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture And Marketing Reynolds and papermate brand writing instruments
No. of Employees :	Information declined by Management

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 320000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having a fine track record. Financial position of the company seems to be sound. Trade relations are reported as fair. Business is active. Payment are reported to be regular and as per commitments. The company can be considered good for normal 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

US investment bank Goldman Sachs  has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan Facilities A
Rating Explanation	Have Adequate Degree Of Safety And Carry Low Credit Risk
Date	October 2013

Rating Agency Name	ICRA
Rating	Short Term Non Fund Based Facilities A1
Rating Explanation	Have Very Strong Degree Of Safety And Carry Lowest Credit Risk
Date	October 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 DENIED BY

Name :	Mr. Sanjay Sethi
Designation :	General Manager
Contact No.:	91-4422454140
Date :	20.05.2014

LOCATIONS

Registered Office /Head office:	No. 2, Janakpuri, Velachery Bye Pass Road, Velachery, Chennai – 605042, Tamilnadu
Tel. No.:	91-044-22550618/19/20/22454141
Fax No.:	91-044-22454072/22457843
E-Mail :	dymo@gmpens.in
Regional Office 1:	No. 7C, Hansalaya Building, Barakhamba Road, New Delhi – 110001
Tel. No.:	91-11-23320818/23320819
Fax No.:	91-11-23320844
E-Mail :	dymo@gmpens.in
Regional Office 2:	301-303, Rudresh Commercial Complex, 19^th Road, Near Ambedkar Garden, Chembur, Mumbai – 400071, Maharashtra, India
Tel. No.:	91-22-25294405/25294406/25294407
Fax No.:	91-22-25294408
E-Mail :	dymo@gmpens.in
Regional Office 3:	JR Mullick Peribai Estate, Flat No. 2E, 2^nd Floor, 16/7/2B, Keyatala Road, Kolkata – 700029, West Bengal, India
Tel. No.:	91-33-24645533/24645460/24633275
Fax No.:	No. 91-33-24649100
E-Mail :	dymo@gmpens.in
Branches :	No. 36/2, First Floor, II Cross, Kumara Park West, Bangalore – 560020, Karnataka, India
Tel. No.:	91-80-23360878
Fax No.:	91-80-23360878 / 23461978
E-Mail :	dymo@gmpens.in

DIRECTORS

As on: 16.08.2013

Name :

Mr. Mohamed Meeran Katch

Designation :

Managing Director

Address :

No. 4/494, South 3^rd Main Road Kapaleseswarar Nagar , Neelangarai Chennai – 600 041, Tamilnadu

Date of Birth/Age :

16.09.1944

Date of Appointment :

10.02.1995

DIN No.:

00035276

PAN No.:

AAUPM1217D

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	U65991TN1992PTC022711	PARK LLOYD SECURITiES PRIVATE LIMITED	Director	24/08/1994	24/08/1994	01/11/2012	Active	NO
2	U35991TN1995PTC062444	G.M. PENS INTERNATIONAL PRIVATE LIMITED	Managing director	10/02/1995	10/02/1995	-	Active	NO
3	U70101TN2000PTC044013	G.M.P. PROPERTIES PRIVATE LIMITED	Director	27/01/2000	27/01/2000	-	Active	NO
4	U67120TN1999PTC042197	PEACOCK CHENNAI FINVEST PRIVATE LIMITED	Director	18/10/2002	18/10/2002	-	Active	NO
5	U80211TN2013PTC092991	LANCHESTTER ACADEMY PRIVATE LIMITED	Director	14/09/2013	14/09/2013	-	Active	NO
6	U74999TN1995PTC032413	SUPER STAR SALES & MARKETING PRIVATE LIMITED	Additional director	01/11/2013	01/11/2013	-	Active	NO

Name :

Mr. Indrakumar Mahendran

Designation :

Managing Director

Address :

Post Box No. 52474, Dubai, U.A.E

Date of Birth/Age :

27.09.1954

Date of Appointment :

18.12.009

DIN No.:

00313865

PAN No.:

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	U65991TN1992PTC022711	PARK LLOYD SECURITiES PRIVATE LIMITED	Director	24/08/1994	24/08/1994	01/11/2012	Active	NO
2	U35991TN1995PTC062444	G.M. PENS INTERNATIONAL PRIVATE LIMITED	Managing director	18/12/2009	20/12/1995	-	Active	NO
3	U70101TN2000PTC044013	G.M.P. PROPERTIES PRIVATE LIMITED	Director	27/01/2000	27/01/2000	-	Active	NO
4	U72200TN2000PTC044422	G.M. INFOTECH & SYSTEMS PRIVATE LIMITED	Director	16/03/2000	16/03/2000	04/02/2009	Strike off	NO
5	U80211TN2013PTC092991	LANCHESTTER ACADEMY PRIVATE LIMITED	Director	14/09/2013	14/09/2013	-	Active	NO
6	U74999TN1995PTC032413	SUPER STAR SALES & MARKETING PRIVATE LIMITED	Additional director	01/11/2013	01/11/2013	-	Active	NO

Name :

Mr. Abdul Khader Seyed Ahamed

Designation :

Director

Address :

No. 5/8a, Kathiravan Salai, Chennai – 500041, Tamilnadu, India

Date of Birth/Age :

29.10.1956

Date of Appointment :

10.02.1995

DIN No.:

00366736

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	U24294TN1994PTC028645	ASIAN CHEMICALS & AGRO PROCESSING INDUSTRIES PRIVATE LIMITED	Director	16/09/1994	16/09/1994	-	Active	NO
2	U35991TN1995PTC062444	G.M. PENS INTERNATIONAL PRIVATE LIMITED	Director	10/02/1995	10/02/1995	-	Active	NO
3	U70101TN2000PTC044013	G.M.P. PROPERTIES PRIVATE LIMITED	Director	27/01/2000	27/01/2000	-	Active	NO
4	U72200TN2000PTC044422	G.M. INFOTECH & SYSTEMS PRIVATE LIMITED	Director	16/03/2000	16/03/2000	04/02/2009	Strike off	NO
5	U65993TN1997PTC037838	MAZRAA FINANCE & INVESTMENT PRIVATE LIMITED	Director	30/04/2005	30/04/2005	-	Active	NO
6	U74999TN1995PTC032413	SUPER STAR SALES & MARKETING PRIVATE LIMITED	Additional director	01/11/2013	01/11/2013	-	Active	NO

Name :

Mr. Natarajan Gomathinayagam

Designation :

Director

Address :

Flat No. 1-D, Temple Rock 44a, New Avadi Road Kilpauk, Chennai – 6000110, Tamilnadu

Date of Birth/Age :

12.07.1936

Date of Appointment :

20/02/1997

DIN No.:

00058605

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	U02520TZ1990PLC002987	ROOTS INDUSTRIES INDIA LIMITED	Director	06/01/1997	06/01/1997	27/03/2012	Active	NO
2	U35991TN1995PTC062444	G.M. PENS INTERNATIONAL PRIVATE LIMITED	Director	20/02/1997	20/02/1997	-	Active	NO
3	L31900TN1985PLC012343	UCAL FUEL SYSTEMS LIMITED	Director	24/04/1997	24/04/1997	10/02/2009	Active	NO
4	U45201TN2004PLC052638	PRINCE FOUNDATIONS LIMITED	Director	20/08/2007	29/06/2007	07/05/2009	Active	NO

KEY EXECUTIVES

Name :	Mr. Shankaran
Designation :	Accounts Manager
Name :	Mr. Sanjay Sethi
Designation :	General Manager
Name :	Mr. Vijaya Madhava Panduranga
Designation :	Secretary
Address :	Rite Choice Apartments No.9 (Old No. 5/A), First Street, Balaji Nagar Virugambakkam, Chennai – 600092,Tamilnadu, India
Date of Birth/Age :	26.05.1965
Date of Appointment :	22/05/2006
DIN No.:	AAFPV3515Q

MAJOR SHAREHOLDERS

As on: 16.08.2013

Names of equity Shareholders	No. of Shares
Mohamed Meeran Katch	2250000
Abdul Khader Seyed Ahamed	250000
Indrakumar Mahendran	100000
Isada Holding Limited	2400000
Total	5000000

Names of preference Shareholders	No. of Shares
Ahlan Agro Farms Private Limited	126000
A.J Agro Farms Private Limited	8000
Agro Wonder Agri Farms Private Limited	68000
Blossoms Agro Farms Private Limtited	43000
Vallanad Esatd Private Limoited	18000
Wellworth Agro Farms Private Limited	8000
Wonderland Estates Private Limited	79000
Total	350000

Equity Share Break up (Percentage of Total Equity)

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 :

Manufacture and marketing Reynolds and paper mate brand writing instruments

Brand Names :

Reynolds

Products :

Product Description	ITC Code
Ball Point Pens	96081000
Refills for Ball Point Pens	98086000
Markers	96082000

GENERAL INFORMATION

No. of Employees :

Information declined by management.

Bankers :

· State Bank of India, Commercial Branch, Guindy, 65-A, G.S. St Road, Guindy, Chennai – 600032, Tamilnadu, India

· Indian Overseas Bank, Haddows Road Branch, “Prince Towers” New No.53 (Old Nos.25&26), Collage Road, Chennai – 600006, Tamilnadu, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long Term Borrowing
Term Loan From Bank	65.579	149.693
Short Term Borrowing
Term Loan From Bank	60.010	57.340
Loan Repayable On Demand	109.078	102.028
Total	234.667	309.061

Banking Relations :	---
Auditors :
Name :	Khaja and Sait Chartered Accountants
Address :	No. 11 (Old No. 6) Wallajah Road, Chepauk, 1^st Floor, Chennai – 600021, Tamilnadu, India
Tel No.:	91-44-28549114/ 28525537
PAN NO:	AAAFK4156F
Related Party:	· G.M.P. Properties Private Limited · I S A D Holdings Limited · Ine Point Industries Private Limited · Goodwill Pens private Limited
Subsidiaries :	· Fine Point Industries Private Limited · Goodwill Pens private Limited

CAPITAL STRUCTURE

As on: 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions
500000	Redeemable Cumulative Preference Shares	Rs.100/- each	Rs.50.000 Millions
	Total		Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Millions
350000	Redeemable Cumulative Preference Shares	Rs.100/- each	Rs.35.000 Millions
	Total		Rs.85.000 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	85.000	50.000	50.000
(b) Reserves & Surplus	723.697	562.633	521.889
(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)	808.697	612.633	571.889
(3) Non-Current Liabilities
(a) long-term borrowings	65.579	149.693	45.227
(b) Deferred tax liabilities (Net)	71.352	59.901	38.688
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	136.931	209.594	83.915
(4) Current Liabilities
(a) Short term borrowings	169.088	159.367	163.158
(b) Trade payables	352.032	299.840	373.762
(c) Other current liabilities	15.351	16.351	19.651
(d) Short-term provisions	219.743	213.779	150.015
Total Current Liabilities (4)	756.214	689.337	706.586
TOTAL	1701.842	1511.564	1362.390
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	679.640	608.939	317.758
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	7.207	0.000	7.242
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	23.460	65.766	65.764
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	134.697	101.325	61.785
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	845.004	776.030	452.549
(2) Current assets
(a) Current investments
(b) Inventories	539.849	510.344	533.781
(c) Trade receivables	97.245	48.177	91.006
(d) Cash and cash equivalents	66.487	30.260	63.359
(e) Short-term loans and advances	153.257	146.753	221.695
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	856.838	735.534	909.841
TOTAL	1701.842	1511.564	1362.390

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3751.800	3279.200	2703.500
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		185.000	226.200	183.900
Less	FINANCIAL EXPENSES (D)		41.200	39.300	18.900
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		143.800	186.900	165.000
Less	DEPRECIATION/ AMORTISATION (F)		81.800	51.500	36.300
	PROFIT BEFORE TAX (E-F) (G)		62.000	135.400	128.700
Less	TAX (H)		9.900	36.500	37.700
	PROFIT AFTER TAX (G-H) (I)		52.100	98.900	91.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		98.300	67.400	20.500
Less	APPROPRIATIONS
		Transfer to General Reserve	05.200	09.900	09.100
		Dividend	05.300	08.100	05.000
		Interim dividend	0.000	20.000	20.000
		final dividend	30.000	30.000	10.000
	BALANCE CARRIED TO THE B/S		119.600	98.300	67.400
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings FOB	38.698	11.783	18.627
	TOTAL EARNINGS		38.698	11.783	18.627
	IMPORTS
		Raw Materials	655.143	625.668	476.976
		Stores & Spares	90.385	0.000	0.000
		Capital Goods	66.842	225.823	62.050
	TOTAL IMPORTS		812.370	851.491	539.026
	Earnings Per Share (Rs.)		9.74	18.49	17.01

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.39	3.02	3.37
Net Profit Margin (PBT/Sales)	(%)	1.65	4.13	4.76
Return on Total Assets (PBT/Total Assets}	(%)	3.71	9.36	9.98
Return on Investment (ROI) (PBT/Networth)		0.08	0.22	0.23
Debt Equity Ratio (Total Debt /Networth)		0.29	0.50	0.36
Current Ratio (Current Asset/Current Liability)		1.13	1.07	1.29

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	50.000	50.000	85.000
Reserves & Surplus	521.889	562.633	723.697
Net worth	571.889	612.633	808.697
long-term borrowings	45.227	149.693	65.579
Short term borrowings	163.158	159.367	169.088
Total borrowings	208.385	309.060	234.667
Debt/Equity ratio	0.364	0.504	0.290

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2703.500	3279.200	3751.800
		21.295	14.412

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	2703.500	3279.200	3751.800
Profit	91.000	98.900	52.100
	3.37%	3.02%	1.39%

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	Yes
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	Yes
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	10195483	10/01/2011 *	75,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, GUINDY, 65 - A, G. S. T. ROAD, GUINDY, CHENNAI, TAMIL NADU - 600032, INDIA	B04839130
2	90005557	22/03/2013 *	394,229,000.00	INDIAN OVERSEAS BANK	HADDOWS ROAD BRANCH, "PRINCE TOWERS",, NEW NO. 53 (OLD NOS.25 & 26), COLLEGE ROAD,, CHENNAI, TAMIL  NADU - 600006, INDIA	B72316615
3	90306301	10/03/1995	3,318,000.00	GOVERNMENT OF TAMILNADU REPRESENTED BY THE TERRITO  RIAL ASSI	MADRAS, MADRAS, TAMIL NADU, INDIA	-
4	90284416	07/06/1991	324,000.00	SWARNADHARA CREDIT CORPN. LTD.	'ANURAG'; 7-A; MURRAYS GATE ROAD, ALWAR PET, MADRAS, TAMIL NADU - 600018, INDIA	-

REVIEW OF OPERATIONS & PROSPECTS

During the last financial year, the Company had proposed merger of its two wholly owned subsidiary companies namely M/s Fine Point Industries Private Limited and M/s Goodwill Pens Private Limited with the parent company so that such consolidation would help the Company to reduce overheads and bring about benefits of economies of scale and also improve cost management of production and logistics. Accordingly the scheme of amalgamation of subsidiary companies was approved by the The Hon’ble High Court of Madras with effect from 1.4.2012 being the appointed date. The financial statements for the year 2012-13 reflects such consolidation. In the long run, the amalgamation would help the company to synergize activities and reduce operating costs and improve overall efficiency.

The Company during the last fiscal achieved a turnover of Rs. 3751.800 Millions as against the previous year’s turnover of Rs.3279.200 Millions reporting a 14.41% growth in turnover. The Net Profit was Rs. 52.100 Millions as against Rs.98.9 Millions in the previous year.

The profitshave come down mainly due to steep increase in cost of materials. The Company will continue to focus on growth in sales in the coming years with introduction of new products and brands.

FIXED ASSETS

· Land

· Buildings

· Plant and Machinery

· Furniture and fixtures

· Computer and Accessories

· Office Equipments

· Electrical Installation

· Moulds

· Vehicles

· Commercial Vehicles

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.58.75
UK Pound	1	Rs.98.77
Euro	1	Rs.80.53

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	RAS
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		52

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

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

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

RATING EXPLANATIONS

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

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

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