MIRA INFORM REPORT

Report Date :

27.11.2014

IDENTIFICATION DETAILS

Name :	COPERION GMBH

Registered Office :	Theodorstr. 10 D 70469 Stuttgart

Country :	Germany

Financials (as on) :	31.12.2012

Date of Incorporation :	05.09.2000

Legal Form :	Private limited company

Line of Business :	· Manufacture of other general-purpose machinery · Agents involved in the sale of machines (except agricultural machinery and office machinery) and industrial supplies

No. of Employees	1,270

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory
Payment Behaviour :	No complaints
Litigation :	Clear

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)

Germany

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

GERMANY ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, has contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production

Source : CIA

Company name and address

COPERION GMBH

Company Status: active

Theodorstr. 10

D 70469 Stuttgart

Telephone:0711/897-0

Telefax: 0711/897-3933

Homepage: www.coperion.com

E-mail: info@coperion.com

VAT no.: DE215985182

Tax ID number: 99066/13608

CONCLUSION

Business relations are permissible.

COMPANY HISTORY

05.09.2000 - 04.07.2006 Coperion Holding

Theodorstr. 10

D 70469 Stuttgart

Private limited company

04.07.2006 - 12.12.2007 WPE Germany Holding GmbH

Theodorstr. 10

D 70469 Stuttgart

Private limited company

12.12.2007 - 09.06.2008 Coperion Group GmbH

Theodorstr. 10

D 70469 Stuttgart

Private limited company

RESIGNED ACTING PERSONS AND SHAREHOLDERS

20.08.2007 - 13.05.2014 Manager

Axel Kiefer

D 88284 Wolpertswende

28.12.2004 - 02.07.2013 Manager

Günter Bachmann

D 61352 Bad Homburg

BUSINESS ACTIVITIES

Main industrial sector

2829 Manufacture of other general-purpose machinery n.e.c.

46141 Agents involved in the sale of machines (except agricultural machineryand office machinery) and industrial supplies n.e.c.

BRANCHES AND FACTORIES

Branch:

Coperion GmbH

Niederbieger Str. 9

D 88250 Weingarten

TEL.: 0751/408231

Branch:

Coperion GmbH

Heinrich-Krumm-Str. 6

D 63073 Offenbach

TEL.: 069/829775-0

FAX.: 069/829775-50

PARTICIPATIONS

Shareholder:

Coperion Pelletizing Technology GmbH

Heinrich-Krumm-Str. 6

D 63073 Offenbach

Legal form: Private limited company

Company Status: active

Share capital: EUR 25,000.00

Share: EUR 12,750.00

Reg. data: 18.03.2013

Local court 63065 Offenbach

HRB 46875

Payment experience: within periods customary in this trade

Negative information:We have no negative information at hand.

BALANCE SHEET YEAR: 2012

REAL ESTATE

Type of ownership: Tenant

Address Theodorstr. 10

D 70469 Stuttgart

Land register documents were not available.

BANKERS

COMMERZBANK, 70049 STUTTGART

Sort. code: 60040071, Account no.: 518222500

BIC: COBADEFF600, IBAN: DE50600400710518222500

COMMERZBANK, 70049 STUTTGART

Sort. code: 60040071, Account no.: 518002101

BIC: COBADEFF600, IBAN: DE67600400710518002101

COMMERZBANK, 88212 RAVENSBURG, WÜRTT

Sort. code: 65040073

BIC: COBADEFF650

UNICREDIT BANK - HYPOVEREINSBANK, 70003 STUTTGART

Sort. code: 60020290, Account no.: 386720746

BIC: HYVEDEMM473, IBAN: DE05600202900386720746

UNICREDIT BANK - HYPOVEREINSBANK, 88181 RAVENSBURG, WÜRTT

Sort. code: 65020186, Account no.: 5432200

BIC: HYVEDEMM588, IBAN: DE54650201860005432200

LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144

STUTTGART

Sort. code: 60050101, Account no.: 2592918

BIC: SOLADEST600, IBAN: DE51600501010002592918

FINANCIAL FIGURES

Turnover: 2012 EUR 483,947,425.00

Profit: 2012 EUR 5,346,766.00

Equipment: EUR 2,831,604.00

Ac/ts receivable: EUR 54,314,385.00

Liabilities: EUR 256,604,293.00

Total numbers of vehicles: 45

- Passenger cars: 45

Employees: 1,270

- Trainees: 74

BALANCE SHEETS

Balance sheet ratios 01.01.2012 - 31.12.2012

Equity ratio [%]: -26.73

Liquidity ratio: 0.20

Return on total capital [%]: 2.26

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]: -27.77

Liquidity ratio: 0.19

Return on total capital [%]: -2.04

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]: -26.97

Liquidity ratio: 0.18

Return on total capital [%]: -2.20

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]: -27.00

Liquidity ratio: 0.13

Return on total capital [%]: -13.75

Equity ratio

The equity ratio indicates the portion of the equity as compared

to the total capital. The higher the equity ratio, the better the

economic stability (solvency) and thus the financial autonomy of

a company.

Liquidity ratio

The liquidity ratio shows the proportion between adjusted

receivables and net liabilities. The higher the ratio, the lower

the company's financial dependancy from external creditors.

Return on total capital

The return on total capital shows the efficiency and return on

the total capital employed in the company. The higher the return

on total capital, the more economically does the company work

with the invested capital.

TYPE OF BALANCE SHEET: COMPANY BALANCE SHEET

FINANCIAL YEAR: 01.01.2012 - 31.12.2012

ASSETS EUR 366,713,886.22

Fixed assets EUR 259,652,649.95

Intangible assets EUR 134,241,161.82

Internally generated industrial

property rights and similar rights

and assets EUR 2,954,268.73

Concessions, licences, rights EUR 35,268,799.55

Goodwill EUR 96,018,093.54

Tangible assets EUR 16,228,273.47

Land / similar rights EUR 2,629,729.59

Plant / machinery EUR 5,883,624.09

Other tangible assets / fixtures and

fittings EUR 2,831,603.90

Advance payments made / construction

in progress EUR 4,883,315.89

Financial assets EUR 109,183,214.66

Shares in participations /

subsidiaries and the like EUR 53,338,302.30

Shares in related companies EUR 53,338,302.30

Loans to participations /

subsidiaries and the like EUR 55,729,022.00

Loans to related companies EUR 55,728,672.00

Loans to investee companies EUR 350.00

Other loans EUR 115,890.36

Current assets EUR 105,894,559.30

Stocks EUR 42,964,686.80

Raw materials, consumables and

supplies EUR 17,100,870.73

Finished goods / work in progress EUR 247,796,582.97

Advance payments made EUR 17,143,816.93

Minus received advance payments for

orders / installments for stocks EUR -239,076,583.83

Accounts receivable EUR 54,314,385.41

Amounts due from shareholders EUR 3,838,000.00

Trade debtors EUR 30,759,500.72

Amounts due from related companies EUR 15,408,625.55

Other debtors and assets EUR 4,308,259.13

Liquid means EUR 8,615,487.09

Remaining other assets EUR 1,166,676.97

Accruals (assets) EUR 1,166,676.97

LIABILITIES EUR 366,713,886.22

Shareholders' equity EUR 27,863,067.69

Capital EUR 2,615,000.00

Subscribed capital (share capital) EUR 2,615,000.00

Reserves EUR 14,459,492.44

Capital reserves EUR 6,449,523.59

Retained earnings / revenue reserves EUR 8,009,968.85

Balance sheet profit/loss (+/-) EUR 10,788,575.25

Profit / loss brought forward EUR 5,441,809.65

Annual surplus / annual deficit EUR 5,346,765.60

Provisions EUR 82,246,525.21

Pension provisions and comparable

provisions EUR 46,862,708.23

Provisions for taxes EUR 3,874,414.83

Other / unspecified provisions EUR 31,509,402.15

Liabilities EUR 256,604,293.32

Financial debts EUR 39,014,191.67

Liabilities due to banks EUR 39,014,191.67

Other liabilities EUR 217,590,101.65

Trade creditors (for IAS incl. bills

of exchange) EUR 67,616,045.66

Liabilities due to shareholders EUR 661,000.00

Liabililties due to related companiesEUR 128,144,288.85

Unspecified other liabilities EUR 21,168,767.14

thereof liabilities from tax /

financial authorities EUR 1,373,891.94

thereof liabilities from social

security EUR 514,351.78

Guarantees and other commitments EUR 11,244,000.00

Guarantees / warranties EUR 11,244,000.00

Guarantees EUR 6,791,000.00

Warranties EUR 4,453,000.00

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

Sales EUR 483,947,424.70

Inventory change + own costs (+/-) EUR -85,556,693.20

Inventory change (+/-) EUR -86,322,857.70

Capitalised own costs EUR 766,164.50

Other operating income EUR 37,901,569.41

Cost of materials EUR 238,325,764.33

Raw materials and supplies, purchased

goods EUR 226,299,192.42

Purchased services EUR 12,026,571.91

Gross result (+/-) EUR 197,966,536.58

Staff expenses EUR 96,055,805.52

Wages and salaries EUR 81,921,554.97

Social security contributions and

expenses for pension plans and

benefits EUR 14,134,250.55

Total depreciation EUR 18,725,025.16

Depreciation on tangible / intangible

asssets (incl. start-up and exp. of

bus. EUR 18,725,025.16

Other operating expenses EUR 62,484,056.91

Operating result from continuing

operations EUR 20,701,648.99

Interest result (+/-) EUR -11,920,787.79

Interest and similar income EUR 170,487.89

thereof from related companies EUR 61,214.07

Interest and similar expenses EUR 12,091,275.68

thereof paid to related companies EUR 683,095.56

Other financial result EUR -919,552.66

Income from securities and loans from

financial assets EUR 947,863.12

thereof related companies EUR 350,250.89

Depreciation on financial assets and

marketable securities EUR 1,867,415.78

Financial result (+/-) EUR -12,840,340.45

Result from ordinary operations (+/-) EUR 7,861,308.54

Extraordinary expenses EUR 678,360.23

Extraordinary result (+/-) EUR -678,360.23

Income tax / refund of income tax (+/-)EUR -1,502,539.66

Other taxes / refund of taxes EUR -333,643.05

Tax (+/-) EUR -1,836,182.71

Annual surplus / annual deficit EUR 5,346,765.60

TYPE OF BALANCE SHEET: COMPANY BALANCE SHEET

FINANCIAL YEAR: 01.01.2011 - 31.12.2011

ASSETS EUR 342,462,857.38

Fixed assets EUR 268,049,750.60

Intangible assets EUR 149,847,672.47

Internally generated industrial

property rights and similar rights

and assets EUR 2,350,365.71

Concessions, licences, rights EUR 42,616,004.55

Goodwill EUR 104,881,302.21

Tangible assets EUR 13,503,299.98

Land / similar rights EUR 317,388.24

Plant / machinery EUR 3,310,109.24

Other tangible assets / fixtures and

fittings EUR 2,871,945.08

Advance payments made / construction

in progress EUR 7,003,857.42

Financial assets EUR 104,698,778.15

Shares in participations /

subsidiaries and the like EUR 88,326,352.11

Shares in related companies EUR 88,326,002.11

Shares in investee companies EUR 350.00

Other loans EUR 16,372,426.04

Current assets EUR 71,557,789.83

Stocks EUR 24,851,900.26

Raw materials, consumables and

supplies EUR 20,785,279.99

Finished goods / work in progress EUR 334,016,627.78

Advance payments made EUR 9,831,195.08

Minus received advance payments for

orders / installments for stocks EUR -339,781,202.59

Accounts receivable EUR 40,944,507.87

Trade debtors EUR 22,876,201.05

Amounts due from related companies EUR 16,751,874.98

Other debtors and assets EUR 1,316,431.84

Liquid means EUR 5,761,381.70

Remaining other assets EUR 2,855,316.95

Accruals (assets) EUR 2,855,316.95

LIABILITIES EUR 342,462,857.38

Shareholders' equity EUR 38,909,214.17

Capital EUR 2,615,000.00

Subscribed capital (share capital) EUR 2,615,000.00

Reserves EUR 30,852,404.52

Capital reserves EUR 22,842,435.67

Retained earnings / revenue reserves EUR 8,009,968.85

Balance sheet profit/loss (+/-) EUR 5,441,809.65

Profit / loss brought forward EUR 6,474,432.84

Annual surplus / annual deficit EUR -1,032,623.19

Provisions EUR 80,024,562.09

Pension provisions and comparable

provisions EUR 47,167,143.21

Provisions for taxes EUR 2,712,500.00

Other / unspecified provisions EUR 30,144,918.88

Liabilities EUR 223,529,081.12

Financial debts EUR 99,875,279.36

Liabilities due to banks EUR 99,875,279.36

Other liabilities EUR 123,653,801.76

Trade creditors (for IAS incl. bills

of exchange) EUR 60,690,128.25

Liabililties due to related companiesEUR 35,069,556.07

Unspecified other liabilities EUR 27,894,117.44

thereof liabilities from tax /

financial authorities EUR 1,229,492.48

thereof liabilities from social

security EUR 665,683.42

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

Sales EUR 315,540,619.12

Inventory change + own costs (+/-) EUR 21,388,971.38

Inventory change (+/-) EUR 19,931,643.99

Capitalised own costs EUR 1,457,327.39

Other operating income EUR 29,413,819.12

Cost of materials EUR 194,568,438.38

Raw materials and supplies, purchased

goods EUR 182,409,243.23

Purchased services EUR 12,159,195.15

Gross result (+/-) EUR 171,774,971.24

Staff expenses EUR 90,637,862.61

Wages and salaries EUR 78,129,650.89

Social security contributions and

expenses for pension plans and

benefits EUR 12,508,211.72

Total depreciation EUR 18,269,373.41

Other operating expenses EUR 56,446,913.38

Operating result from continuing

operations EUR 6,420,821.84

Interest result (+/-) EUR -11,612,035.15

Interest and similar income EUR 209,628.91

thereof from related companies EUR 55,994.28

Interest and similar expenses EUR 11,821,664.06

thereof paid to related companies EUR 135,296.81

Other financial result EUR 658,998.38

Income from securities and loans from

financial assets EUR 658,998.38

Depreciation on financial assets and

marketable securities EUR 0.00

Financial result (+/-) EUR -10,953,036.77

Result from ordinary operations (+/-) EUR -4,532,214.93

Extraordinary income EUR 4,500,000.00

Extraordinary expenses EUR 678,360.04

Extraordinary result (+/-) EUR 3,821,639.96

Income tax / refund of income tax (+/-)EUR -28,671.64

Other taxes / refund of taxes EUR -293,376.58

Tax (+/-) EUR -322,048.22

Annual surplus / annual deficit EUR -1,032,623.19

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.87
UK Pound	1	Rs.97.23
Euro	1	Rs.77.21

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIS

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	--

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%)

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.

MIRA INFORM REPORT

Company name and address

CONCLUSION

Company information

COMPANY HISTORY

RESIGNED ACTING PERSONS AND SHAREHOLDERS

BUSINESS ACTIVITIES

BRANCHES AND FACTORIES

PARTICIPATIONS

REAL ESTATE

BANKERS

FINANCIAL FIGURES

BALANCE SHEETS

Unit