MIRA INFORM REPORT

Report Date :

07.11.2014

IDENTIFICATION DETAILS

Name :	TITAN PAINTS AND CHEMICALS LIMITED
Registered Office :	114-A, Senthottam, Sowripalayam. Coimbatore- 641 028, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.07.1945
Com. Reg. No.:	18-000222
Capital Investment / Paid-up Capital :	Rs. 1.900 Millions
CIN No.: [Company Identification No.]	U24222TZ1945PLC000222
TAN No.: [Tax Deduction & Collection Account No.]	CMBT03133E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Paints and Powder Coatings
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 360000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Rating reflects sound financial risk profile marked by decent liquidity position of the company. Trade relations are reported to be fair. Business is active. Payment are reported to be usually correct. The company can be considered for business dealing 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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. Ramesh
Designation :	Finance Head
Contact No.:	91-422-2319841
Date :	01.11.2014

LOCATIONS

Registered Office :	114-A, Senthottam, Sowripalayam. Coimbatore- 641 028, Tamilnadu, India
Tel. No.:	91-422-2319841 / 2319861
Fax No.:	91-422-2317005
E-Mail :	adwaitham@eth.net ramesh@titanpaints.in
Website :	www.titanpaints.in
Works:	305/191A, Pollachi Road, Industrial Estate, Post Sundarapuram, Coimbatore-641 028, Tamilnadu, India
Tel. No.:	91-422-2672897/2672493
Fax No.:	91-422-2674490
E-Mail :	tittanpaints@vsnl.net
Branches:	Located At: · Bangalore · Chennai · Hyderabad

DIRECTORS

As on 11.08.2014

Name :

Mr. Ravi Sam

Designation :

Director

Address :

89/190, Vankatasamy Road, Coimbatore - 641 002, Tamilnadu, India

Date of Birth/Age :

31.03.1956

Date of Appointment :

29.01.1987

DIN No.:

00007465

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	U17111TZ1956PLC000203	ADWAITH TEXTILES LIMITED	Managing director	19/05/2012	12/06/1974	-	Active	NO
2	U24222TZ1945PLC000222	TITAN PAINTS AND CHEMICALS LIMITED	Director	29/01/1987	29/01/1987	-	Active	NO
3	L17111TZ1981PLC001109	SUPER SALES INDIA LIMITED	Director	30/06/1989	30/06/1989	-	Active	NO
4	U51397TZ1991PLC003477	ESHAAN ENTERPRISES LIMITED	Director	23/10/1991	23/10/1991	-	Active	NO
5	U27109TZ1991PLC003510	ADWAITH LAKSHMI INDUSTRIES LIMITED	Managing director	01/04/2013	18/11/1991	-	Active	NO
6	U27310TZ1992PLC003812	INTEGRATED ELECTRICAL CONTROLS INDIA LIMITED	Nominee director	29/04/1993	29/04/1993	-	Active	NO
7	U65993TN1977PLC070246	MURUGAPPA HOLDINGS LIMITED	Director	27/08/1997	27/08/1997	09/02/2012	Active	NO
8	U17301TZ2001PLC009933	ADWAITH LAKSHMI CONSTRUCTIONS LIMITED	Director	18/10/2001	18/10/2001	-	Under Process of Striking off	NO
9	U17111TZ1979PTC000894	SRI KAMAKOTI KAMAKSHI ENTERPRISES PRIVATE LIMITED	Director	23/01/2002	23/01/2002	-	Active	NO
10	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
11	U24222TZ2006PLC012639	LAKSHMI ECO RESINS INDIA LIMITED	Director	09/03/2006	09/03/2006	-	Strike off	NO
12	U28112TZ2006PLC012935	SHRI KARA ENGINEERING LIMITED	Director	17/07/2006	17/07/2006	-	Active	NO
13	U17111TZ2006PLC013009	ADWAITH LAKSHMI KNITS AND WOVENS LIMITED	Director	18/08/2006	18/08/2006	-	Strike off	NO
14	U17111TZ2007PLC013789	LAKSHMI CAIPO INDUSTRIES LIMITED	Director	12/06/2007	12/06/2007	-	Active	NO
15	U24220TZ2008PLC014436	TITAN HMG PAINTS INDIA LIMITED	Director	30/04/2008	30/04/2008	-	Active	NO
16	U01132TN2011PLC079800	PARRY AGRO INDUSTRIES LIMITED	Director	21/07/2014	03/03/2012	-	Active	NO

Name :

Ms. Uttara Ravi

Designation :

Director

Address :

89/190, Vankatasamy Road, Coimbatore - 641 002, Tamilnadu, India

Date of Birth/Age :

15.03.1966

Date of Appointment :

26.02.1999

DIN No.:

00007486

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	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Managing director	01/04/2013	06/06/1988	-	Active	NO
2	U52599TN1991PLC021857	LAKSHMI CARGO COMPANY LIMITED	Director	13/12/1991	13/12/1991	-	Active	NO
3	U63040TZ1981PLC007191	STARLINE TRAVELS LIMITED	Director	14/07/1992	14/07/1992	-	Active	NO
4	U29191TZ1980PLC000905	MAHALAKSHMI ENGINEERING HOLDINGS LIMITED	Director	18/11/1995	18/11/1995	-	Active	NO
5	U27109TZ1991PLC003510	ADWAITH LAKSHMI INDUSTRIES LIMITED	Director	30/09/1998	30/09/1998	-	Active	NO
6	U17111TZ1956PLC000203	ADWAITH TEXTILES LIMITED	Director	18/11/1998	18/11/1998	-	Active	NO
7	U24222TZ1945PLC000222	TITAN PAINTS AND CHEMICALS LIMITED	Director	26/02/1999	26/02/1999	-	Active	NO
8	U17111TZ2000PLC009487	SUN SPINTEX INDIA LIMITED	Director	15/09/2000	15/09/2000	-	Amalgamated	NO
9	U55101TZ1990PLC002853	WALZER HOTELS AND RESORTS LIMITED	Director	07/02/2001	07/02/2001	-	Active	NO
10	U17111TZ1979PTC000894	SRI KAMAKOTI KAMAKSHI ENTERPRISES PRIVATE LIMITED	Director	23/02/2002	23/02/2002	-	Active	NO
11	U51909TZ2004PLC011211	VENKATAVARADHAA AGENCIES LIMITED	Director	28/06/2004	28/06/2004	-	Active	NO
12	U24222TZ2006PLC012639	LAKSHMI ECO RESINS INDIA LIMITED	Director	09/03/2006	09/03/2006	-	Strike off	NO
13	U17111TZ2006PLC013009	ADWAITH LAKSHMI KNITS AND WOVENS LIMITED	Director	18/08/2006	18/08/2006	-	Strike off	NO
14	U17111TZ2007PLC013789	LAKSHMI CAIPO INDUSTRIES LIMITED	Director	12/06/2007	12/06/2007	-	Active	NO
15	U24220TZ2008PLC014436	TITAN HMG PAINTS INDIA LIMITED	Director	30/04/2008	30/04/2008	-	Active	NO
16	U51397TZ1991PLC003477	ESHAAN ENTERPRISES LIMITED	Director	31/08/2012	07/11/2011	-	Active	NO
17	U29100TZ2012PLC018665	LAKSHMI ENERGY AND ENVIRONMENT DESIGNS LIMITED	Director	22/08/2012	22/08/2012	-	Active	NO

Name :

Mr. Nagaraj R.

Designation :

Whole Time Director

Address :

No.8, Maniakarathotyam Peelamedupudur, Coimbatore - 641 002, Tamilnadu, India

Date of Birth/Age :

02.11.1952

Date of Appointment :

01.08.2013

DIN No.:

00009261

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	U17111TZ2000PLC009487	SUN SPINTEX INDIA LIMITED	Director	26/09/2001	26/09/2001	-	Amalgamated	NO
2	U17301TZ2001PLC009933	ADWAITH LAKSHMI CONSTRUCTIONS LIMITED	Director	18/10/2001	18/10/2001	01/04/2008	Under Process of Striking off	NO
3	U51909TZ2004PLC011211	VENKATAVARADHAA AGENCIES LIMITED	Director	28/06/2004	28/06/2004	-	Active	NO
4	U00292TZ2005PLC011689	RAMAKRISHNA COMPONENTS MANUFACTURING LIMITED	Director	30/03/2005	30/03/2005	-	Active	NO
5	U24222TZ1945PLC000222	TITAN PAINTS AND CHEMICALS LIMITED	Whole-time director	01/08/2013	24/04/2005	-	Active	NO
6	U27109TZ1991PLC003510	ADWAITH LAKSHMI INDUSTRIES LIMITED	Director	31/07/2008	19/08/2005	-	Active	NO
7	U28112TZ2006PLC012935	SHRI KARA ENGINEERING LIMITED	Director	17/07/2006	17/07/2006	-	Active	NO
8	U17111TZ2006PLC013009	ADWAITH LAKSHMI KNITS AND WOVENS LIMITED	Director	18/08/2006	18/08/2006	-	Strike off	NO
9	U24220TZ2008PLC014436	TITAN HMG PAINTS INDIA LIMITED	Director	30/04/2008	30/04/2008	-	Active	NO
10	U17111TZ1956PLC000203	ADWAITH TEXTILES LIMITED	Director	25/08/2014	10/02/2014	-	Active	NO

Name :

Mr. Swarna K. Reddy

Designation :

Director

Address :

No.15, Circuit House, Road, Coimbatore-641 018, Tamilnadu, India

Date of Birth/Age :

06.09.1964

Date of Appointment :

10.09.2009

DIN No.:

02220635

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	U17301TZ2001PLC009933	ADWAITH LAKSHMI CONSTRUCTIONS LIMITED	Director	28/02/2003	28/02/2003	-	Under Process of Striking off	NO
2	U24222TZ1945PLC000222	TITAN PAINTS AND CHEMICALS LIMITED	Director	10/09/2009	24/01/2009	-	Active	NO

Name :

Mr. Ramesh Rudrapppan

Designation :

Director

Address :

No.1/1, G D Street, Race Cource, Coimbatore-641 018, Tamilnadu, India

Date of Birth/Age :

03.03.1955

Date of Appointment :

10.09.2009

DIN No.:

00008325

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	U28939TZ1966PLC000559	LAKSHMI PRECISION TOOLS LIMITED	Director	04/03/1981	04/03/1981	21/05/2011	Active	NO
2	U27310TZ1994PLC004884	TULYA ALLOY CASTINGS LIMITED	Director	27/08/1998	27/08/1998	-	Active	NO
3	U24222TZ1945PLC000222	TITAN PAINTS AND CHEMICALS LIMITED	Director	10/09/2009	24/01/2009	-	Active	NO
4	L31200TZ1981PLC001124	LAKSHMI ELECTRICAL CONTROL SYSTEMS LIMITED	Director	08/08/2014	23/05/2011	-	Active	NO

Name :

Ms. Arya Sam

Designation :

Additional Director

Address :

89/190, Venkatasamy Road, R. S. Puram, Coimbatore-641 002, Tamilnadu, India

Date of Birth/Age :

28.03.1992

Date of Appointment :

26.08.2010

DIN No.:

03179804

KEY EXECUTIVES

Name :	Mr. Ramesh
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 11.08.2014

Names of Shareholders	No. of Shares
S. Ganesh	80
U. K. Vyasa Rao	10
Balchandra Gofhardha	4
Aruna Arvibhai Desai And Savitrhri	160
S. N. Thambake	20
Uttar Ravi	188800
Ravi Sam	100
Ramesh Rudrappan	100
G. Ratnavel	100
K. A. Subrananiam	2
K. R. Venkataramanan	2
George Paul	100
Vinayak Kamath	251
Nagendranath Kamath	251
R. Nagaraj Joint Holding With Uttara Ravi	10
K. Mohana Kumarswamy Joint Holding With Uttara Ravi	10
Total	190000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	99.50
Other top fifty shareholders	0.50
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Paints and Powder Coatings.
Exports :
Products :	Finished Goods
Countries :	Bangladesh Europe
Imports :
Products :	Raw Material
Countries :	Thailand China
Terms :
Selling :	Cash, L\C and Credit
Purchasing :	Cash, L\C and Credit

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

150 (Approximately)

Bankers :

• Indian Bank, Coimbatore Main Branch, 31, Variety Hall Road, Coimbatore-641 001, Tamilnadu, India
• ICICI Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loan from Bank	1.819	4.533
Deferred Payment Liabilities	0.000	0.300
Vehicle Finance	0.000	0.186
SHORT TERM BORROWING
Loan Repayable on Demand from Bank (the above buyer credit loan is primarily secured by hypothecation of inventories and book debt of the company)	57.905	42.149
Loan Repayable on Demand from Bank (The above buyer credit loan is primarily secured by hypothecation of inventories and book debt of the company)	2.343	12.024
Total	62.067	59.192

Banking Relations :	---
Auditors :
Name :	G. Ramaswamy and Company Chartered Accountants
Address :	GR Chambers, 66, Logamanya Street, R. S. Puram, Coimbatore-641 002, Tamilnadu, India
PAN No.:	AACFG4855B
Other Related Party :	Adwaith Lakshmi Industries Limited Adwaith Textiles Limited Lakshmi Ring Travellers ( Cbe ) Limited Lakshmi Machine Works Limited Lakshmi Electrical Drives Limited Ramakrishna Componenets Manufacturing Limited Starline Travels Limited Lakshmi Cargo Company Limited - Cbe Lmw Machinery Limited
Joint Venture and Associates:	Titan HMG Paints India Limited

CAPITAL STRUCTURE

As on 11.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs. 3.000 Millions
700000	Preference Shares	Rs.10/- each	Rs. 7.000 Millions
	Total		Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
190000	Equity Shares	Rs.10/- each	Rs. 1.900 Millions

FINANCIAL DATA

[all figures are in Rupees Millions].

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.900	1.900	1.900
(b) Reserves & Surplus	123.115	115.507	105.315
(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)	125.015	117.407	107.215
(3) Non-Current Liabilities
(a) long-term borrowings	1.819	5.020	6.592
(b) Deferred tax liabilities (Net)	0.659	0.597	1.185
(c) Other long term liabilities	0.000	0.004	1.316
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	2.478	5.621	9.093
(4) Current Liabilities
(a) Short term borrowings	60.248	54.173	45.880
(b) Trade payables	30.278	33.974	33.426
(c) Other current liabilities	14.894	9.306	14.788
(d) Short-term provisions	4.754	6.146	5.004
Total Current Liabilities (4)	110.174	103.599	99.098
TOTAL	237.667	226.627	215.406
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	73.579	55.090	59.983
(ii) Intangible Assets	3.380	4.247	4.631
(iii) Capital work-in-progress	1.146	6.623	0.469
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	16.495	16.238	16.238
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.544	2.740	1.529
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	96.144	84.938	82.850
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	23.683	28.063	33.668
(c) Trade receivables	80.328	83.306	72.327
(d) Cash and cash equivalents	23.789	21.369	15.100
(e) Short-term loans and advances	12.078	8.397	9.590
(f) Other current assets	1.645	0.554	1.871
Total Current Assets	141.523	141.689	132.556
TOTAL	237.667	226.627	215.406

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	246.938	243.908	241.717
		Other Income	7.706	8.225	9.764
		TOTAL	254.644	252.133	251.481
Less	EXPENSES
		Cost of Materials Consumed	162.409	161.685	170.947
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	3.219	0.853	(4.717)
		Employees benefits expense	17.859	17.955	18.702
		Other expenses	39.376	35.799	33.696
		TOTAL (B)	222.863	216.292	218.628
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		31.781	35.841	32.853
Less	FINANCIAL EXPENSES		9.907	8.855	9.306
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		21.874	26.986	23.547
Less/ Add	DEPRECIATION/ AMORTISATION		9.479	11.445	11.294
	PROFIT BEFORE TAX		12.395	15.541	12.253
Less	TAX		4.788	5.349	4.684
	PROFIT AFTER TAX		7.607	10.192	7.569
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		108.797	98.605	91.036
	BALANCE CARRIED TO THE B/S		116.404	108.797	98.605
	IMPORTS
		Raw Materials	25.713	33.346	54.366
		Capital Goods	0.000	2.966	0.000
	TOTAL IMPORTS		25.713	36.312	54.366
	Earnings Per Share (Rs.)		40.04	53.64	39.84

Expected Sales (2014-15): Rs. 300.000 Millions

The above information has been parted by Mr. Ramesh.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	3.08	4.18	3.13
Operating Profit Margin (PBT/Sales)	(%)	12.87	14.69	13.59
Return on Total Assets (PBT/Total Assets}	(%)	5.63	7.63	6.17
Return on Investment (ROI) (PBT/Networth)		0.10	0.13	0.11
Debt Equity Ratio (Total Debt /Networth)		0.50	0.50	0.49
Current Ratio (Current Asset/Current Liability)		1.28	1.37	1.34

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	1.900	1.900	1.900
Reserves & Surplus	105.315	115.507	123.115
Net worth	107.215	117.407	125.015
long-term borrowings	6.592	5.020	1.819
Short term borrowings	45.880	54.173	60.248
Total borrowings	52.472	59.193	62.067
Debt/Equity ratio	0.489	0.504	0.496

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	241.717	243.908	246.938
		0.906	1.242

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	241.717	243.908	246.938
Profit	7.569	10.192	7.607
	3.13%	4.18%	3.08%

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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10148003	12/01/2013 *	32,500,000.00	INDIAN BANK	COIMBATORE MAIN BRANCH, 31,VARIETY HALL ROAD, COI MBATORE, Tamil Nadu - 641001, INDIA	B67575803
2	80029235	19/03/2012 *	209,800,000.00	INDIAN BANK	COIMBATORE MAIN BRANCH, 31,VARIETY HALL ROAD, CO IMBATORE, Tamil Nadu - 641001, INDIA	B36426823
3	90007352	28/09/1972	315,000.00	STATE BANK OF INDIA	COIMBATORE, COIMBATORE, Tamil Nadu, INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Furniture and Fittings
• Office Equipments
• Vehicles
• Fire Fighting
• Air Conditioner
• Computer
• Power House
• Trade Mark
• Tools and Lab Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.38
UK Pound	1	Rs.98.00
Euro	1	Rs.77.98

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUM
Report Prepared by :	KLS

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	6
--LEVERAGE	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.