MIRA INFORM REPORT

Report Date :

07.11.2014

IDENTIFICATION DETAILS

Name :	ANABOND LIMITED [w.e.f.21.01.2002]
Formerly Known As :	ANABOND PRIVATE LIMITED
Registered Office :	No. 36, Type II, Dr. V.S.I. Estate, Thiruvanmiyur, Chennai – 600041, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.02.1984
Com. Reg. No.:	18-075194
Capital Investment / Paid-up Capital :	Rs. 20.266 Millions
CIN No.: [Company Identification No.]	U24295TN1984PLC075194
TAN No.: [Tax Deduction & Collection Account No.]	CHEA00689D
PAN No.: [Permanent Account No.]	AACCA4158Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Industrial Adhesives and Sealants.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 2888000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. There seems some dip in the profit of the company during 2014. However networth of the company is satisfactory. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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 willfully 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank facilities = A
Rating Explanation	Adequate degree of safety it carry low credit risk.
Date	December 05, 2013

Rating Agency Name	CARE
Rating	Short term Bank facilities = A1
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	December 05, 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 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

[CONTACT NO.: 91-44-23460053]

LOCATIONS

Registered/ Corporate/ Marketing Office :	No. 36, Type II, Dr. V.S.I. Estate, Thiruvanmiyur, Chennai – 600041, Tamilnadu, India
Tel. No.:	91-44-23460050/ 23460041/ 42/ 43
Fax No.:	91-44-23460048
E-Mail :	taxation@anabond.com marketing@anabond.com anat2x@vsnl.net
Website :	http://www.anabond.com
Branch Offices :	Located at: · Bengaluru · Coimbatore · Delhi · Ernakulam · Kolkata · Mumbai · Pune · Secunderabad

DIRECTORS

AS ON 28.09.2013

Name :

Mr. Janakiraman Vijayakumar

Designation :

Managing director

Address :

41/2D, II Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India

Date of Birth/Age :

07.09.1951

Qualification :

M.Sc.

Date of Appointment :

01.12.2010

PAN No.:

AAGPV6367H

DIN No.:

00039987

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	U24295TN1984PLC075194	ANABOND LIMITED	Managing director	01/12/2010	29/02/1984	-	Active	NO
2	U24100TN1994PTC026929	ANABOND DARIEN PRIVATE LIMITED	Managing director	08/03/2013	02/03/1994	-	Active	NO
3	U24299PY1997PTC001304	AXSON REVOCOAT INDIA PRIVATE LIMITED	Managing director	25/01/2008	17/03/1997	21/02/2013	Active	NO
4	U33112TN2004PTC054628	ANABOND STEDMAN PHARMA RESEARCH PRIVATE LIMITED	Director	09/11/2004	09/11/2004	-	Active	NO
5	U92412TN2007PTC062354	ANABOND GOLF CLUB PRIVATE LIMITED	Nominee director	12/02/2007	12/02/2007	-	Active	NO
6	U27300TN2007PTC063230	ANABOND TANTALUM PRIVATE LIMITED	Nominee director	23/04/2007	23/04/2007	-	Strike off	NO
7	U72200TN2003PTC051954	ANADOCS IT SOLUTIONS PRIVATE LIMITED	Director	30/09/2009	30/12/2008	-	Active	NO
8	U24133TN2010PTC074891	SAINERGY FUEL CELL INDIA PRIVATE LIMITED	Director	12/03/2010	12/03/2010	14/07/2010	Active	NO

Name :

Mr. Venkateswaran Lakshminarayanan

Designation :

Whole-time director

Address :

No.7,Narayan Kripa GA, Jeevarthinam Nagar, Shastri Nagar, Adyar, Chennai – 600020, Tamilnadu, India

Date of Birth/Age :

18.06.1956

Qualification :

F.C.A.

Date of Appointment :

01.12.2010

PAN No.:

AAGPL6182N

DIN No.:

00040251

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	U24299PY1997PTC001304	AXSON REVOCOAT INDIA PRIVATE LIMITED	Director	28/09/2001	28/09/2001	21/02/2013	Active	NO
2	U72200TN2003PTC051954	ANADOCS IT SOLUTIONS PRIVATE LIMITED	Managing director	13/11/2003	13/11/2003	-	Active	NO
3	U80904TN2003PTC052209	TUTORS WORLDWIDE (INDIA) PRIVATE LIMITED	Director	01/07/2004	01/07/2004	-	Active	YES
4	U27300TN2007PTC063230	ANABOND TANTALUM PRIVATE LIMITED	Nominee director	23/04/2007	23/04/2007	-	Strike off	NO
5	U24295TN1984PLC075194	ANABOND LIMITED	Whole-time director	01/12/2010	24/08/2007	-	Active	NO
6	U72900TN2007PTC065146	ANADOCS RFXCEL SOFTWARE INDIA PRIVATE LIMITED	Director	24/10/2007	24/10/2007	-	Strike off	NO
7	U25200TN2013PTC091564	ANABOND HS BUTYL PRIVATE LIMITED	Nominee director	10/06/2013	10/06/2013	-	Active	NO

Name :

Mr. Esakiapillai Srinivasan

Designation :

Whole-time director

Address :

Plot No.5047, Ram Nagar North Extn., 5th Street, Puzhuthivakkam, Chennai – 600091, Tamilnadu, India

Date of Birth/Age :

17.03.1961

Qualification :

B.A.

Date of Appointment :

01.12.2010

DIN No.:

00040408

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U33112TN2004PTC054628	ANABOND STEDMAN PHARMA RESEARCH PRIVATE LIMITED	Director	09/11/2004	09/11/2004	Active	NO
2	U27300TN2007PTC063230	ANABOND TANTALUM PRIVATE LIMITED	Nominee director	23/04/2007	23/04/2007	Strike off	NO
3	U24295TN1984PLC075194	ANABOND LIMITED	Whole-time director	01/12/2010	24/08/2007	Active	NO
4	U24100TN1994PTC026929	ANABOND DARIEN PRIVATE LIMITED	Director	29/09/2012	07/09/2012	Active	NO
5	U25200TN2013PTC091564	ANABOND HS BUTYL PRIVATE LIMITED	Nominee director	10/06/2013	10/06/2013	Active	NO

Name :

Mr. Bernard Syiem

Designation :

Director

Address :

G.S. Road, 9th Mile, Baridua Village, District Ri-Bhoi, Amerigog - 781023, P.O Meghalaya, India

Date of Birth/Age :

12.08.1968

Date of Appointment :

15.12.2004

DIN No.:

02198252

Name :

Mr. Janakiraman Vijayakumar Sembian

Designation :

Director

Address :

41/2D, II Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India

Date of Birth/Age :

26.02.1982

Qualification :

B.E.(Artchitect)

Date of Appointment :

30.09.2011

PAN No.:

AOHPS3509R

DIN No.:

02305586

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U92412TN2007PTC062354	ANABOND GOLF CLUB PRIVATE LIMITED	Director	22/07/2008	22/07/2008	Active	NO
2	U24295TN1984PLC075194	ANABOND LIMITED	Director	30/09/2011	04/02/2011	Active	NO
3	U24100TN1994PTC026929	ANABOND DARIEN PRIVATE LIMITED	Director	29/09/2012	07/09/2012	Active	NO

Name :

Mr. Velayutham Andrew

Designation :

Director

Address :

New No.31, Old No.7, Lakshmipuram, Chromepet, Chennai – 600044, Tamilnadu, India

Date of Birth/Age :

05.11.1962

Qualification :

B.E.

Date of Appointment :

28.09.2013

PAN No.:

ADJPV1250F

DIN No.:

03122193

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24133TN2010PTC074891	SAINERGY FUEL CELL INDIA PRIVATE LIMITED	Additional director	14/07/2010	14/07/2010	Active	NO
2	U24295TN1984PLC075194	ANABOND LIMITED	Director	28/09/2013	25/01/2013	Active	NO

Name :

Mr. Selvaganapathy Suyam Prakaasam

Designation :

Director

Address :

AH142, 3rd Street, Anna Nagar, Chennai – 600040, Tamilnadu, India

Date of Birth/Age :

03.07.1962

Qualification :

BBL and DLL

Date of Appointment :

28.09.2013

PAN No.:

ABUPS8769H

DIN No.:

06483988

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U14102TN1996PTC035599	SUN NATURAL STONES (INDIA) PRIVATE LIMITED	Director	28/05/1996	28/05/1996	Strike off	NO
2	U24295TN1984PLC075194	ANABOND LIMITED	Director	28/09/2013	25/01/2013	Active	NO
3	AAC-8474	ALPHA ALWYN BUILD TECH LLP	Designated Partner	27/10/2014	27/10/2014	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2013

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 28.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	97.26
Others	2.74
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Industrial Adhesives and Sealants.

Products/ Services :

ITC Code No.	Product Descriptions
35061000	Adhesives, Caulking Compounds and Mastics

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Indian Overseas Bank

Commercial and Institutional Credit Branch, 98-A, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600004, Tamilnadu, India

· Canara Bank

· HDFC Bank Limited

· Indian Bank

· Induslnd Bank

· State Bank of India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Rupee term loans from banks	30.045	47.204
Working capital loans from banks	7.003	0.000
Loans taken for vehicles	1.476	0.607
Total	38.524	47.811

Banking Relations :	--
Auditors :
Name :	C N G S N and Associates Chartered Accountants
Address :	Swathi Court, Flat No. C and D, No.22, Vijayaraghava Road, T. Nagar, Chennai – 600017, Tamilnadu, India
Income-tax PAN of auditor or auditor's firm :	AADFC5571B
Subsidiary company :	· Anadocs IT Solutions Private Limited [U72200TN2003PTC051954] · Anabond Tantalum Private Limited [U27300TN2007PTC063230]
Joint venture :	· Anabond Stedman Pharma Research Private Limited [U33112TN2004PTC054628] · Axson Revocoat India Private Limited [U24299PY1997PTC001304] · Anabond HS Butyl Private Limited [U25200TN2013PTC091564]
Associates :	· Anabond Darien Private Limited [U24100TN1994PTC026929] · Arima and Company

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
6,000,000	Equity Shares	Rs. 10/- each	Rs. 60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,026,620	Equity Shares	Rs. 10/- each	Rs. 20.266 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	20.266	27.022	35.843
(b) Reserves & Surplus	990.739	988.122	992.342
(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)	1011.005	1015.144	1028.185
(3) Non-Current Liabilities
(a) long-term borrowings	51.434	60.910	122.762
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	1.605	0.929	2.284
(d) long-term provisions	2.474	1.249	0.000
Total Non-current Liabilities (3)	55.513	63.088	125.046
(4) Current Liabilities
(a) Short term borrowings	8.846	6.295	8.918
(b) Trade payables	82.259	108.936	84.957
(c) Other current liabilities	39.254	38.271	25.640
(d) Short-term provisions	40.217	52.273	43.166
Total Current Liabilities (4)	170.576	205.775	162.681
TOTAL	1237.094	1284.007	1315.912
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	603.271	605.024	617.149
(ii) Intangible Assets	0.276	0.394	0.563
(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	21.001	9.213	16.652
(c) Deferred tax assets (net)	6.406	5.087	4.384
(d) Long-term Loan and Advances	11.744	8.721	9.837
(e) Other Non-current assets	12.971	8.928	5.272
Total Non-Current Assets	655.669	637.367	653.857
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	151.086	147.805	149.788
(c) Trade receivables	296.503	229.180	168.436
(d) Cash and cash equivalents	21.593	126.096	223.263
(e) Short-term loans and advances	75.961	61.430	50.336
(f) Other current assets	36.282	82.129	70.232
Total Current Assets	581.425	646.640	662.055
TOTAL	1237.094	1284.007	1315.912

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	1185.731	1142.211	1186.306
		Other Income	7.265	13.833	11.927
		TOTAL (A)	1192.996	1156.044	1198.233
Less	EXPENSES
		Cost of Materials Consumed	649.654	603.981	632.754
		Purchases of Stock-in-Trade	0.000	0.000	85.214
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1.363)	5.516	(18.510)
		Employees benefits expense	123.859	121.479	123.092
		Other expenses	194.957	190.788	142.932
		Exceptional Items	(4.011)	(57.665)	43.876
		TOTAL (B)	963.096	864.099	1009.358
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		229.900	291.945	188.875
Less	FINANCIAL EXPENSES (D)		15.887	12.629	11.221
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		214.013	279.316	177.654
Less/ Add	DEPRECIATION/ AMORTISATION (F)		37.391	38.297	33.031
	PROFIT BEFORE TAX (E-F) (G)		176.622	241.019	144.623
Less	TAX (H)		34.155	48.013	37.049
	PROFIT AFTER TAX (G-H) (I)		142.467	193.006	107.574
	EARNINGS IN FOREIGN CURRENCY
		Export of goods calculated on FOB basis	39.147	50.162	36.913
	IMPORTS
		Raw Materials	238.356	163.499	214.794
		Capital Goods	0.000	7.918	0.000
	TOTAL IMPORTS		238.356	171.417	214.794
	Earnings Per Share (Rs.)
	Basic		67.40	69.02	30.01
	Diluted		65.51	48.40	17.77

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	12.02	16.90	9.07
Operating Profit Margin (PBDIT/Sales)	(%)	19.39	25.56	15.92
Return on Total Assets (PBT/Total Assets}	(%)	14.60	18.98	11.17
Return on Investment (ROI) (PBT/Networth)		0.17	0.24	0.14
Debt Equity Ratio (Total Debt/Networth)		0.06	0.07	0.13
Current Ratio (Current Asset/Current Liability)		3.41	3.14	4.07

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	35.843	27.022	20.266
Reserves & Surplus	992.342	988.122	990.739
Net worth	1028.185	1015.144	1011.005
Long-term borrowings	122.762	60.910	51.434
Short term borrowings	8.918	6.295	8.846
Total borrowings	131.680	67.205	60.280
Debt/Equity ratio	0.128	0.066	0.060

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	1186.306	1142.211	1185.731
		(3.717)	3.810

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	1186.306	1142.211	1185.731
Profit	107.574	193.006	142.467
	9.07%	16.90%	12.02%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	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	10082948	20/01/2009 *	47,500,000.00	INDIAN OVERSEAS BANK	COMMERCIAL & INSTITUTIONAL CREDIT BRANCH, 98-A, DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMILNADU - 600004, INDIA	A54914114
2	90005845	09/07/2004	80,000,000.00	ADVANCED SYSTEM LABORATORY	KANCHENBAGH, HYDERABAD, TAMINADU, INDIA	-
3	90262493	09/07/2004	80,000,000.00	INDIAN OVERSEAS BANK	AURAS CORPORATE CENTER, 98-A DR. RADHAKRISHNAN SALAI, CHENNAI, TAMILNADU, INDIA	-
4	90005712	15/03/2012 *	318,700,000.00	INDIAN OVERSEAS BANK	COMMERCIAL & INSTITUTIONAL CREDIT BRANCH,, 98-A,  DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMILNADU - 600004, INDIA	B36461291
5	90262076	06/10/2004 *	23,000,000.00	INDIAN OVERSEAS BANK	AURAS CORPORATE CENTER, 98-A DR. RADHAKRISHNAN SALAI, CHENNAI, TAMILNADU, INDIA	-
6	90005424	18/11/1993	313,000.00	THE TAMILNADU INDUSTRIAL INVESTMENT CORPOTAITON LIMITED	SIDCO PROJECT, GS.T. ROAD; GUINDY, MADRAS, TAMILNADU - 600032, INDIA	-
7	90005241	09/11/1984	420,000.00	THE TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITED	480, ANNA SALAI, CHENNAI, TAMILNADU - 600035, INDIA	-

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Deposits from others	9.038	9.067
Other loans and advances	3.872	4.032
SHORT TERM BORROWINGS
Loans and advances from related parties	8.846	6.295
Total	21.756	19.394

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from RS No. 26/2, Cad No. 82, Thiru-Bhuvani Village, Manadipet Commune - 605102, Pondicherry, India to the present address w.e.f.19.02.2010.

PERFORMANCE

During the Financial Year the company recorded a Turnover of Rs.1323.900 Millions (Previous Year Rs.1265.400 Millions), thereby recording a growth of 4.62%. The profit before tax (excluding sale of assets) is Rs.172.600 Millions (Previous Year Rs. 183.300 Millions). The decrease in profit is due to the increase in raw materials cost on account of Rupee Depreciation.

BUY BACK OF SHARES

The company had successfully completed the extended buy back of 675540 number of shares of shares from shareholders at a price of Rs.210/- per share (inclusive of premium of Rs.200/-). Amounting to Rs.141.863 Millions and the transactions were completed on 17th May 2013.

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
Letter of Credits	11.795	25.602
Bank Guarantees	18.204	17.162
Corporate Guarantees issued
Anabond Stedman Pharma Research Private Limited (Limits)	HDFC Anna Salai Branch 12.000	HDFC Anna Salai Branch 12.000
Income Tax Appeals AY 2006-07 (Pending before ITAT)	0.650	0.650
Income Tax Appeals AY 2007-08 (Pending before ITAT)	5.975	5.975
Income Tax Appeals AY 2008-09 (Pending before ITAT)	5.717	5.717
Income Tax Appeals AY 2009-10 (Pending before CIT-A)	0.193	0.193
Income Tax Appeals AY 2010-11 (Pending before CIT-A)	1.059	1.059
Total	55.593	68.358

FIXED ASSETS:

· Land

· Buildings

· Factory building

· Plant and equipment

· Factory equipments

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Other equipments

· Brands and trade marks

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. 61.39
UK Pound	1	Rs. 98.00
Euro	1	Rs. 76.99

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.