MIRA INFORM REPORT

Report Date :

17.10.2014

IDENTIFICATION DETAILS

Name :	MULTITEX FILTRATION ENGINEERS LIMITED

Registered Office :	217 Hans Bhawan Bahadur Shah, Zafar Marg, New Delhi - 110002

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	18.11.1982

Com. Reg. No.:	55-014716

Capital Investment / Paid-up Capital :	Rs.32.117 Millions

CIN No.: [Company Identification No.]	U74899DL1982PLC014716

TAN No.: [Tax Deduction & Collection Account No.]	DELM08634D

PAN No.: [Permanent Account No.]	AAACM4722G

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer and supplier of all types of Industrial Filtration Equipments, Sterlisers, Air and Fluid Handling Equipments and Systems, Air and Water Filtration Equipments and to undertake and execute all types of turnkey projects in the above fields.

No. of Employees :	Information declined by Management.

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 1700000

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a well-established company having satisfactory track. The company possesses an average financial profile marked by modest netowrth base and large working capital requirements with high debtors. Management has reported a better growth in its sales turnover as well as net profitability during 2013. The ratings also take into consideration risks related to Volatility in raw material prices which has direct impact on the costs. However, trade relations appear to be fair. Business is active. Payment terms are reported as slow but correct. In view of established market position and promoters extensive experience, the subject can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

India

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	CRISIL
Rating	Long Term Rating = BB+
Rating Explanation	Moderate risk of default regarding timely servicing of financial obligations.
Date	31.10.2013

Rating Agency Name	CRISIL
Rating	Short term rating = A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	31.10.2013

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. Prabhat Srivastava
Contact No.:	91-9811795254
Date :	16.10.2014

LOCATIONS

Registered / Head Office :	217 Hans Bhawan Bahadur Shah, Zafar Marg, New Delhi - 110002, India
Tel. No.:	91-11-23370923/23370479/23311275 / 23316779 / 23715882 / 23715923 / 23316028 / 42404040
Mobile No.:	91-9811795254 (Mr. Prabhat Srivastava)
Fax No.:	91-11-23370221/ 23722221
E-Mail :	multitex@bol.net.in multitex@multitexfilters.com mkjindal@hotmail.com info@multitexfilters.com accounts@multitexfilters.com
Website :	www.multitexfilters.com

Factory 1:	A-89, Sector V, District Gautambudh Nagar, Noida-201301, Uttar Pradesh, India

Factory 2 :	A-96, Sector 58, Noida-201301, Uttar Pradesh, India

Factory 3 :	Surajpur, Near Greater Noida, Uttar Pradesh, India

DIRECTORS

AS ON: 30.09.2013

Name :

Mr. Adar Kumar Jain

Designation :

Whole-time director

Address :

181, Vaishali, Pitampura, New Delhi -110034, India

Date of Birth/Age :

18.01.1982

Date of Appointment :

01.02.2007

DIN No.:

00431371

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	U74899DL1993PTC051806	MULTITEX FILTERS Private LIMITED	Director	20/01/1993	20/01/1993	-	Active	NO
2	U51420DL2003PTC120784	WORTHWELL METALICAN WORKS PRIVATE LIMITED	Director	06/06/2003	06/06/2003	-	Active	NO
3	U35119DL2006PTC152040	MULTITEX ENGINEERS PRIVATE LIMITED	Director	14/08/2006	14/08/2006	-	Active	NO
4	U74899DL1982PLC014716	MULTITEX FILTRATION ENGINEERS LIMITED	Whole-time director	01/02/2007	01/02/2007	-	Active	NO
5	U29253DL2007PTC168354	AMF ENGINEERING PRIVATE LIMITED	Director	18/09/2007	18/09/2007	-	Active	NO
6	U25190DL2008PTC180279	KLUMP & KOLLER INDIA PRIVATE LIMITED	Director	30/06/2008	30/06/2008	-	Active	NO
7	U29219DL2010PTC210278	SIGMA THERMAL INDIA PRIVATE LIMITED	Director	10/11/2010	10/11/2010	-	Active	NO
8	U29200DL2011PTC227153	EXERTUS ENGINEERS PRIVATE LIMITED	Director	08/11/2011	08/11/2011	-	Active	NO
9	U65910DL1996PTC077501	HIGHSKY FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO

Name :

Mrs. Kanchan Jain

Designation :

Whole-time director

Address :

181, Vaishali, Pitampura, New Delhi-110034, India

Date of Birth/Age :

14.01.2002

Date of Appointment :

01.04.2011

PAN No.:

AAHPJ9207D

DIN No.:

00431428

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	U74899DL1993PTC051806	MULTITEX FILTERS Private LIMITED	Whole-time director	01/04/2007	20/01/1993	-	Active	NO
2	U35119DL2006PTC152040	MULTITEX ENGINEERS PRIVATE LIMITED	Director	14/08/2006	14/08/2006	-	Active	NO
3	U74899DL1982PLC014716	MULTITEX FILTRATION ENGINEERS LIMITED	Whole-time director	01/04/2011	23/02/2007	-	Active	NO
4	U29253DL2007PTC168354	AMF ENGINEERING PRIVATE LIMITED	Director	18/09/2007	18/09/2007	-	Active	NO
5	U23209DL2004PLC125791	REED ENGINEERING INDUSTRIES LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO
6	U25190DL2008PTC180279	KLUMP & KOLLER INDIA PRIVATE LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO
7	U65910DL1996PTC077501	HIGHSKY FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	26/08/2013	26/08/2013	-	Active	NO

Name :

Mr. Sanjay Jain

Designation :

Director

Address :

CD-19, Pitampura, New Delhi-110088, India

Date of Birth/Age :

16.02.1970

Date of Appointment :

30.09.2008

DIN No.:

00974324

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	U65910DL1996PTC077501	HIGHSKY FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	19/11/2002	19/11/2002	-	Active	NO
2	U74899DL1982PLC014716	MULTITEX FILTRATION ENGINEERS LIMITED	Director	30/09/2008	02/08/2008	-	Active	NO
3	U45204DL2009PTC193189	JAIN SUBHADAR DEVELOPER. PRIVATE LIMITED	Director	13/08/2009	13/08/2009	-	Active	NO
4	U70109DL2010PTC200533	SANJAY JAIN DEVELOPERS PRIVATE LIMITED	Director	22/03/2010	22/03/2010	-	Active	NO
5	U70109DL2011PTC218401	SHRI AADINATH BUILDWELL PRIVATE LIMITED	Director	02/05/2011	02/05/2011	-	Active	NO

Name :

Mr. Yashpal Malik

Designation :

Director

Address :

H-26, Sector-25, Noida-201301, India

Date of Birth/Age :

14.11.1947

Date of Appointment :

30.09.2008

DIN No.:

01204412

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	U32301DL2000PTC108860	GURU DEV ELECTRONICS PRIVATE LIMITED	Director	13/12/2000	13/12/2000	-	Active	YES
2	U23209DL2004PLC125791	REED ENGINEERING INDUSTRIES LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
3	U74899DL1982PLC014716	MULTITEX FILTRATION ENGINEERS LIMITED	Director	30/09/2008	02/08/2008	-	Active	NO
4	U70200DL2009PTC196227	GURUWAY MARKETING & INFRASTRUCTURE PRIVATE LIMITED	Director	20/11/2009	20/11/2009	-	Active	NO
5	U51900WB2009PTC134062	ROOPTARA VINIMAY PRIVATE LIMITED	Director	17/07/2012	17/07/2012	-	Active	NO
6	U51909WB2009PTC134177	VINTAGE SALES PRIVATE LIMITED	Director	17/07/2012	17/07/2012	-	Active	NO

Name :

Mr. Amit Jain

Designation :

Whole-time director

Address :

181, Vaishali, Pitampura, New Delhi-110034, India

Date of Birth/Age :

24.12.2003

Date of Appointment :

01.02.2007

PAN No.:

AEFPJ8100B

DIN No.:

01361926

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	U74899DL1993PTC051806	MULTITEX FILTERS Private LIMITED	Director	20/01/1993	20/01/1993	-	Active	NO
2	U65910DL1996PTC077501	HIGHSKY FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	26/08/2002	26/08/2002	-	Active	NO
3	U51420DL2003PTC120784	WORTHWELL METALICAN WORKS PRIVATE LIMITED	Director	06/06/2003	06/06/2003	-	Active	NO
4	U74899DL1982PLC014716	MULTITEX FILTRATION ENGINEERS LIMITED	Whole-time director	01/02/2007	01/02/2007	-	Active	NO
5	U72200DL2006PTC147784	SHIVA DEVSOFT PRIVATE LIMITED	Director	30/09/2008	15/01/2008	-	Active	NO

Name :

Mr. Nitin Jain

Designation :

Whole Time Director

Address :

181, Vaishali, Pitampura, New Delhi-110034, India

Date of Birth/Age :

01.12.1995

Date of Appointment :

01.02.2007

PAN No.:

AEFPJ8101A

DIN No.:

01361932

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	U74899DL1982PLC014716	MULTITEX FILTRATION ENGINEERS LIMITED	Whole-time director	01/02/2007	01/02/2007	-	Active	NO
2	U74899DL1993PTC051806	MULTITEX FILTERS Private LIMITED	Director	12/02/2007	12/02/2007	-	Active	NO
3	U72200DL2006PTC147784	SHIVA DEVSOFT PRIVATE LIMITED	Director	30/09/2008	15/01/2008	-	Active	NO
4	U25190DL2008PTC180279	KLUMP & KOLLER INDIA PRIVATE LIMITED	Director	30/06/2008	30/06/2008	-	Active	NO
5	U23209DL2004PLC125791	REED ENGINEERING INDUSTRIES LIMITED	Director	30/05/2010	30/05/2010	-	Active	NO
6	U29219DL2010PTC210278	SIGMA THERMAL INDIA PRIVATE LIMITED	Director	10/11/2010	10/11/2010	-	Active	NO
7	U29220DL2011PTC218198	ROCKFIN INDIA PRIVATE LIMITED	Director	28/04/2011	28/04/2011	-	Active	NO
8	U29200DL2011PTC227153	EXERTUS ENGINEERS PRIVATE LIMITED	Director	08/11/2011	08/11/2011	-	Active	NO

Name :

Mr. Paramjeet Singh Barsal

Designation :

Director

Address :

A-80/2, Hari Nagar, New Delhi-110064, India

Date of Birth/Age :

07.05.1947

Date of Appointment :

30.09.2008

DIN No.:

02123476

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	U74899DL1993PTC051806	MULTITEX FILTERS Private LIMITED	Director	03/02/2007	03/02/2007	30/03/2007	Active	NO
2	U74899DL1982PLC014716	MULTITEX FILTRATION ENGINEERS LIMITED	Director	30/09/2008	02/08/2008	-	Active	NO

MAJOR SHAREHOLDERS

As on: 30.09.2013

SHAREHOLDERS DETAILS FILE ATTACHED

As on: 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	19.51
Directors or relatives of Directors	80.49
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and supplier of all types of Industrial Filtration Equipments, Sterlisers, Air and Fluid Handling Equipments and Systems, Air and Water Filtration Equipments and to undertake and execute all types of turnkey projects in the above fields.

Export :	Not Divulged

Import :	Not Divulged

PRODUCTION STATUS As on (31.03.2012)

Particulars	Unit	Actual Production
Filters, Stainers, Skids and Mist Electronics etc.	Nos.	608
Filters Elements and Spares	Nos.	608654

GENERAL INFORMATION

Supplier :

Not Divulged

Customer :

Not Divulged

No. of Employees :

Information declined by Management.

Bankers :

Bank of India, Bahadushah Zafar Marg Branch, 217, Hans Bhawan, Bahadushah Zafar Marg, Tilak Bridge, New Delhi-110002, India
Standared Charted Bank. 9/10, Bahadur Shah Zafar Marg, First Floor, New Delhi – 110002, Delhi, India

Facilities :

Secured Loan	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Long Term Borrowing
Term Loan from bank [Land, Car Residential House]	105.634	71.181
Term Loan From Others Secured [Secured by cars]	2.762	6.717

Short Term Borrowing
Term Loan from bank	118.899	160.121
Total	227.295	238.019


Banking Relations :	--

Auditors :
Name :	Shashi Verma and Company Chartered Accountant
Address :	E-20, Lajpat Nagar III, New Delhi-110024, India
Tel. No.:	91-11-29845477/29832913
Fax No.:	91-11-29831814
PAN.:	AAYFS3792F

Enterprise over which a relative of Key Management Personnel (KMP) is able to exercise significant influence :	· Multitex Filters Private Limited [U74899DL1993PTC051806] · AMF Engineering Private Limited [U29253DL2007PTC168354]

CAPITAL STRUCTURE

As on: 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

600000	Equity Shares	Rs.100/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

321170	Equity Shares	Rs.100/- each	Rs.32.117 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	32.117	32.117	31.622
(b) Reserves & Surplus	383.982	348.441	271.563
(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)	416.099	380.558	303.185

(3) Non-Current Liabilities
(a) long-term borrowings	185.852	89.926	99.609
(b) Deferred tax liabilities (Net)	10.285	10.140	7.035
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.911	2.389	2.443
Total Non-current Liabilities (3)	199.048	102.455	109.087

(4) Current Liabilities
(a) Short term borrowings	118.899	160.121	143.714
(b) Trade payables	374.762	254.444	146.483
(c) Other current liabilities	87.919	100.974	71.025
(d) Short-term provisions	19.369	11.730	13.108
Total Current Liabilities (4)	600.949	527.269	374.330

TOTAL	1,216.096	1,010.282	786.602

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	202.702	199.585	221.917
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	21.048	8.639	1.125
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.078	0.969	0.969
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	4.991	4.876	5.021
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	229.819	214.069	229.032

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	197.122	201.964	101.218
(c) Trade receivables	616.497	468.820	322.767
(d) Cash and cash equivalents	94.780	70.288	60.600
(e) Short-term loans and advances	14.399	14.342	7.658
(f) Other current assets	63.479	40.799	65.327
Total Current Assets	986.277	796.213	557.570

TOTAL	1,216.096	1,010.282	786.602

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1130.475	883.735	871.772
		Other Income	(0.874)	7.766	(0.017)
		TOTAL (A)	1129.601	891.501	871.755

Less	EXPENSES
		Cost of Material consumed	612.069	577.885	524.781
		Purchases of Stock-in-Trade	17.936	0.000	0.000
		Changes in inventories of finished goods work in progress and Stock in Trade	(40.804)	(87.399)	0.000
		Employee benefits expense	150.169	138.856	109.428
		Other Expenses	277.128	165.682	153.176
		TOTAL (B)	1016.498	795.024	787.385

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		113.103	96.477	84.370

Less	FINANCIAL EXPENSES (D)		49.848	46.493	36.185

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		63.255	49.984	48.185

Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.262	7.578	6.915

	PROFIT BEFORE TAX (E-F) (G)		54.993	42.406	41.270

Less	TAX (H)		19.452	14.533	13.743

	PROFIT AFTER TAX (G-H) (I)		35.541	27.873	27.527

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		172.989	145.116	117.588

	BALANCE CARRIED TO THE B/S		208.530	172.989	145.116

	EARNINGS IN FOREIGN CURRENCY
	Design and Engineering Services		9.955	0.000	0.000
	Trading Sale		32.777	0.000	0.000
	Export Sale		294.689	42.656	97.140
	TOTAL EARNING		337.421	42.656	97.140

	IMPORTS
		Raw Material	73.510	67.489	34.176
	TOTAL IMPORTS		73.510	67.489	34.176

	Earnings Per Share (Rs.)		110.66	88.10	87.05

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	3.15	3.13	3.16

Net Profit Margin (PBT/Sales)	(%)	4.86	4.80	4.73

Return on Total Assets (PBT/Total Assets}	(%)	4.61	4.24	5.26

Return on Investment (ROI) (PBT/Networth)		0.13	0.11	0.14

Debt Equity Ratio (Total Debt /Networth)		0.73	0.66	0.80

Current Ratio (Current Asset/Current Liability)		1.64	1.51	1.49

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	31.622	32.117	32.117
Reserves & Surplus	271.563	348.441	383.982
Net worth	303.185	380.558	416.099

long-term borrowings	99.609	89.926	185.852
Short term borrowings	143.714	160.121	118.899
Total borrowings	243.323	250.047	304.751
Debt/Equity ratio	0.803	0.657	0.732

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	871.772	883.735	1130.475
		1.372	27.920

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	871.772	883.735	1130.475
Profit	27.527	27.873	35.541
	3.16%	3.15%	3.14%

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	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

UNSECURED LOAN:

Particulars	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Long Term Borrowing
Other loans and advances	77.456	12.028

Total	77.456	12.028

CONTINGENT LIABILITIES NOT PROVIDED FOR IN THE ACCOUNTS:

(a) Guarantees issued by the Bankers on behalf of the Company Rs. 244.638 millions (Previous Year Rs.269.531 millions).

(b) Disputed UP Entry Tax : Rs. 4.583 millions (Previous Year : Rs. 4.583 millions).

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10484143	10/02/2014	47,100,000.00	Standard Chartered Bank	9/10, BAHADUR SHAH ZAFAR MARG, FIRST FLOOR, NEW D ELHI, Delhi - 110002, INDIA	C00176651
2	10436682	18/05/2013	725,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	B79544375
3	10331969	10/01/2012	525,800,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	B30609028
4	10224090	14/05/2010	198,000,000.00	Bank of India	Bahadushah Zafar Marg Branch, 217,Hans Bhawan,Bah adushah Zafar Marg,Tilak Bridge, New Delhi, Delhi - 110002, INDIA	A87392320
5	10217608	23/03/2010	495,000,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	A84630045
6	10217607	22/03/2010	495,000,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	A84629880
7	10169946	17/07/2009	215,000.00	Bank of India	Bahadushah Zafar Marg Branch, 217,Hans Bhawan,Bah adushah Zafar Marg,Tilak Bridge, New Delhi, Delhi - 110002, INDIA	A67327569
8	10099360	02/05/2008	15,000,000.00	GE MONEY FINANCIAL SERVICES LIMITED	401 402 4TH FLOORAGGARWAL MILLENIUM TOWER, E1 2 3 NETAJI SUBHASH PLACE, PITAMPURA DELHI, Delhi - 1 10034, INDIA	A37061595
9	10101478	26/03/2008	345,000.00	BANK OF INDIA LIMITED	Bahadurshah Zafar Marg, New Delhi, Delhi - 110002, INDIA	A37971678
10	10073089	28/09/2013 *	399,000,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	B87646162

* Date of charge modification

FIXED ASSETS:

Land
Building
Flats
Machinery
Computer
Air Conditioner
Electrical Installation
Generator
Office Equipment
Cycle
Furniture and Fixtures
Car
Scooter

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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.62
UK Pound	1	Rs.99.12
Euro	1	Rs.78.89

INFORMATION DETAILS

Information Gathered by :	HTL

Analysis done by :	SUB

Report Prepared by :	SNT

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	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.