MIRA INFORM REPORT

Report Date :

28.10.2014

IDENTIFICATION DETAILS

Name :	DAMAN POLYTHREAD LIMITED (w.e.f 11.01.2012)
Formerly Known As :	DAMAN POLYTHREAD PRIVATE LIMITED
Registered Office :	Plot No.732/ 736, Opposite Ringanwada Government School, Dabhel, Nani Daman – 396 210, Union Territory
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.11.1999
Com. Reg. No.:	11-004750
Capital Investment / Paid-up Capital :	Rs. 20.365 Millions
CIN No.: [Company Identification No.]	U17231DD1999PLC004705
TAN No.: [Tax Deduction & Collection Account No.]	MUMD12902B
PAN No.: [Permanent Account No.]	AABCD0702E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of High Tenacity (HT), Polypropylene Multifilament (PPMF), Industrial Yarns and Narrow Woven Fabric (NWF)
No. of Employees :	21 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 400000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. 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 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.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Fund based limits – Term Loans: “BB+”
Rating Explanation	Have moderate risk of default.
Date	May, 2014

Rating Agency Name	ICRA
Rating	Non-fund based limits: “A4+” (Suspended)
Rating Explanation	Have minimal degree of safety and carry very high credit risk.
Date	May, 2014

Reason for Suspension: The suspension follows ICRA’s inability to carry out a rating surveillance in the absence of the requisite information from the company.

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. Arshad
Designation :	Manager
Contact No.:	91-22-23428993
Date :	22.10.2014

LOCATIONS

Registered Office/ Factory :	Plot No.732/ 736, Opposite Ringanwada Government School, Dabhel, Nani Daman – 396210, Union Territory, India
Tel. No.:	91-260-3201110
Mobile No.:	91-9870634528 (Mr. Naresh)
Fax No.:	91-260-2240208
E-Mail :	sales@damanpolythread.com info@damanpolythread.com accountsmumbai@damanpolythread.com adminmum@damanpolythread.com
Website :	www.damanpolythread.com
Location :	Owned
Corporate Office :	5, Mirza Street, A.R. Street, 1^st Floor, Mumbai – 400003, Maharashtra, India
Tel. No.:	91-22-2342 8993/ 23428720
Fax No.:	91-22-23428146

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Mustafa Mansoor Kudia

Designation :

Managing director

Address :

Flat No. 7, 3^rd Floor, Zaveri Mansion, Gell Street, Agripada, Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

28.10.1978

Date of Appointment :

01.04.2010

DIN No.:

00041396

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Managing director	01-04-2010	23-05-2000	Active	NO
2	U74999MH1993PTC075288	NOORI BARKATI ESTATES PRIVATE LIMITED	Director	28-09-2012	24-05-2012	Active	NO

Name :

Mr. Mansoor Haroon Kudia

Designation :

Director

Address :

Flat No. 7, 3^rd Floor, Zaveri Mansion, Gell Street, Agripada, Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

05.04.1953

Date of Appointment :

11.08.2001

DIN No.:

00041567

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	U25209MH1989PTC053369	SAHIL PLASTIC PRIVATE LIMITED	Managing director	01-04-2010	08-09-1989	Active	NO
2	U26920MH1986PLC040931	HUMA POLY PLAST LIMITED	Managing director	05-12-2010	05-12-1995	Active	NO
3	U74999MH1993PTC075288	NOORI BARKATI ESTATES PRIVATE LIMITED	Director	09-02-1998	09-02-1998	Active	NO
4	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Director	11-08-2001	11-08-2001	Active	NO

Name :

Mr. Sadik Toufik Kudia

Designation :

Whole-time director

Address :

Dastgir House, Maratha Mandir Marg, Club Back Road, 1^st Floor, Mumbai – 400003, Maharashtra, India

Date of Birth/Age :

30.07.1975

Date of Appointment :

01.11.1999

DIN No.:

00041549

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Whole-time director	01-11-1999	01-11-1999	Active	NO
2	U26920MH1986PLC040931	HUMA POLY PLAST LIMITED	Whole-time director	01-04-2010	30-09-2002	Active	NO

Name :

Mr. Zaid Toufik Kudia

Designation :

Whole-time director

Address :

Dastigir House, Flat No.3, 1^st Floor, Maratha Mandir Marg Mumbai – 400008, Maharashtra, India

Date of Birth/Age :

10.05.1982

Date of Appointment :

01.02.2014

DIN No.:

00041526

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Whole-time director	01-02-2014	01-02-2004	Active	NO

Name :

Mr. Mohamed Uzair Rafique Kudia

Designation :

Whole-time director

Address :

4, Siraj Manzil, 1^st Floor, Mumbai – 400008, Maharashtra, India

Date of Birth/Age :

28.11.1981

Date of Appointment :

01.02.2014

DIN No.:

00041495

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Whole-time director	01-02-2014	01-02-2004	Active	NO

Name :

Mr. Mujammil Mansoor Kudia

Designation :

Whole-time director

Address :

Zaveri Mansion, Flat No. 7, 3rd Floor, Gell Street, Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

17.02.1981

Qualification :

Engineer

Date of Appointment :

01.02.2014

DIN No.:

00041448

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Whole-time director	01-02-2014	01-02-2004	Active	NO
2	U74999MH1993PTC075288	NOORI BARKATI ESTATES PRIVATE LIMITED	Director	28-09-2012	24-05-2012	Active	NO
3	U25209MH1989PTC053369	SAHIL PLASTIC PRIVATE LIMITED	Additional director	09-12-2013	09-12-2013	Active	NO

Name :

Mr. Imran Haroon Kudia

Designation :

Whole-time director

Address :

107, Hasham Building, 4th Floor, Mohammedali Road, Mumbai – 400003, Maharashtra, India

Date of Birth/Age :

16.02.1970

Date of Appointment :

30.09.2009

DIN No.:

00108370

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	U26920MH1986PLC040931	HUMA POLY PLAST LIMITED	Whole-time director	01-04-2010	12-08-1994	Active	NO
2	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Whole-time director	30-09-2009	17-03-2006	Active	NO

Name :

Mr. Mohammed Maaz Mansoor Kudia

Designation :

Whole-time director

Address :

Zaveri Mansion, 3^rd Floor, Flat No.7, 2^nd Motlibai Street, Agripada, Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

22.10.1986

Date of Appointment :

01.04.2013

DIN No.:

02027578

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Whole-time director	01-04-2013	01-01-2008	Active	NO
2	U74999MH1993PTC075288	NOORI BARKATI ESTATES PRIVATE LIMITED	Director	28-09-2012	24-05-2012	Active	NO

Name :

Mr. Shabbir Abdul Latif Surti

Designation :

Director

Address :

407, 4TH Floor, Kohinoor Apartment,, Station Road, Jogeshwari (West), Mumbai – 400102, Maharashtra, India

Date of Birth/Age :

27.05.1962

Date of Appointment :

30.09.2009

DIN No.:

00108299

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	U25209MH1989PTC053369	SAHIL PLASTIC PRIVATE LIMITED	Whole-time director	24-01-2007	24-01-2007	30-12-2011	Active	NO
2	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Director	30-09-2009	01-09-2009	-	Active	NO
3	U26920MH1986PLC040931	HUMA POLY PLAST LIMITED	Director	30-09-2010	25-02-2010	29-12-2011	Active	NO

Name :

Mr. Mohammed Iqbal Ebrahim Esani

Designation :

Director

Address :

8/B/208, Kapadia Nagar, CST Road, Kurla (West), Mumbai – 400070, Maharashtra, India

Date of Birth/Age :

01.01.1954

Date of Appointment :

30.09.2009

DIN No.:

03111934

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Director	30-09-2009	01-09-2009	Active	NO
2	U26920MH1986PLC040931	HUMA POLY PLAST LIMITED	Director	30-09-2010	25-02-2010	Active	NO

Name :

Mr. Haroon Abdul Gaffar Gaziani

Designation :

Director

Address :

Flat No 701, 7^th Floor, Patel Apartments Chambers Limited, 'D' Wing 233/234 M A Road, Nagpada Junction, Mumbai – 400008, Maharashtra, India

Date of Birth/Age :

01.01.1947

Date of Appointment :

30.09.2009

DIN No.:

03180249

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	U17231DD1999PLC004705	DAMAN POLYTHREAD LIMITED	Director	30-09-2009	01-09-2009	Active	NO
2	U26920MH1986PLC040931	HUMA POLY PLAST LIMITED	Director	30-09-2010	25-02-2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Arshad
Designation :	Manager

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Shareholders (Equity Shares)	No. of Shares
Kudia Toufik Sadik	45600
Kudia Haroon Mansoor	73100
Kudia Mansoor Mustafa	125500
Kudia Haroon Javeed	55100
Kudia Haroon Rafik	51000
Kudia Taufik Junaid	48500
Kudia Mansoor Munira	119500
Kudia Haroon Toufik	112000
Kudia Toufik Yasmin	57500
Kudia Junaid Mehzabeen	16500
Kudia Rafik Ujjair	16000
Kudia Sadik Talat	18500
Kudia Faizal Gazala	73000
Kudia Mustufa Saba	5500
Kudia Haroon Asma	23500
Kudia Haroon Jamila	15500
Kapadia Faizal Munessira	2500
Kudia Toufik Zaid	4000
Kudia Rafiq Saira	2500
Kudia Farook Perveen	12500
Nursumar Javed Gulbanoo	7500
Kudia Haron Farook	44500
Kudia Mansoor Mujjamil	48000
Kudia Harron Rafik and Surti Karin Rauf and Kudia Haroon Mansoor	20000
Huma Poly Plast Limited, India	175000
Surti Ahmed Afzal	20000
Kapadia G. Saddiq	10000
Shaikh Juben	25000
Kudia Mansoor Moh. Mazz	22500
Total	1250300

Names of Shareholders (Redeemable Preference Shares)	No. of Shares
Surti Afzal Ahmed	8300
Surti Shakell Ahmed	1333
Surti Kafeel Ahemed	1333
Surti Mustafa Ahemed	1333
Nursumar Javeed Gulbano	3165
Taban Haroon Jamila	1865
Kudia Haroon Javed	3333
Kudia Mansoor Munira	2830
Kudia Javed Rubina	2663
Kudia Imran Soiba	2163
Kudia Fazal Gazala	3998
Kudia Rafik Saira	1166
Kudia Haroon Asma	1333
Jain Shobhagmal Ashok	1000
Kapadia Faizal Mubessira	1665
Kudia Farook Parveen	333
Kudia Mustafa Naseem	1331
Sheikha Rafik Farida	833
Surti Mansoor Mustafa	4000
Shaikh Juben	333
Kudia Mujammil Mahenoor	3350
Kudia Ujjjair Sana	3350
Kudia Mustafa Safiya	3350
Kudia Rafik Uzair	5365
Kudia Mansoor Moh. Maaz	11833
Kudia Haroon Mansoor	3066
Kudia Zaid	4000
Total	78624

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2013

Category	Percentage of Holding
Bodies corporate	14.00
Directors or relatives of Directors	86.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of High Tenacity (HT), Polypropylene Multifilament (PPMF), Industrial Yarns and Narrow Woven Fabric (NWF)
Products :	Multifilament Yarn
Exports :
Products :	Finished Goods
Countries :	Pakistan
Imports :
Products :	Raw Material
Countries :	· UAE · Oman
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

GENERAL INFORMATION

Suppliers :

· Akaar Engineering Company

· Ambalal Kothari and Company

· Ashutosh Power Transbelts Limited

· Arihant Computer Solution

· Balaji Traders

· Borouge Pte Limited

· Cool Care and Services

· Deccan Sles and Services Private Limited

· Dhan Laxmi Industries

· Doshi Trading Company

Customers :

Wholesalers, Retailers and Manufacturer

· ACE Enterprises

· A P International

· Agarwal and Company

· Anugrah Enterprises

· Dutch Bangla Pack Limited

· D K Enterprises

· Bharat Plast Extrusions Private Limited

· Beejal Synthetics Private Limited

· Bhavesh Industries

· Chola Packaging Limited

No. of Employees :

21 (Approximately)

Bankers :

· Bank of Baroda, Mangaldas Market, Mumbai Branch, Mumbai – 400002, Maharashtra, India

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term loans
From Banks	0.000	5.635
Short Term Borrowings
From Banks – Cash Credit	36.689	13.514
From Financial Institutions and Others	0.000	0.117
Total	36.689	19.266

NOTES:

SHORT TERM BORROWINGS

First, pari passu charge on stock and book debts both present and future by way of hypothecation over company's entire current assets including stock of raw materials, semi-finished goods, consumable stores and spares and other movables, book debts, bills, outstanding monies, receivables both present and future.

Banking Relations :	--
Auditors :
Name :	M.A. Parekh and Associates Chartered Accountants
Address :	543, Kalbadevi Road, Ravindra House, 2^nd Floor, Near Metro, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22073701
E-Mail :	ca.maprekh@gmail.com
PAN No.:	AACPP6839J
Associates :	· Asma Stores · Plastics Cottage Indus
Other Related Party :	Noori Barkati Estates Private Limited

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital: Rs.45.000 Millions

Issued, Subscribed & Paid-up Capital: Rs. 31.904 Millions

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs. 10/- each	Rs.15.000 Millions
100000	Preference Shares	Rs. 100/- each	Rs.10.000 Millions
	Total		Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1250300	Equity Shares	Rs. 10/- each	Rs.12.503 Millions
78624	Preference Shares	Rs. 100/- each	Rs.7.862 Millions
	Total		Rs.20.365 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	20.365	20.365	20.365
(b) Reserves & Surplus	79.708	66.956	57.582
(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)	100.073	87.321	77.947
(3) Non-Current Liabilities
(a) long-term borrowings	25.568	31.203	22.403
(b) Deferred tax liabilities (Net)	0.000	0.000	0.002
(c) Other long term liabilities	0.287	0.260	0.260
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	25.855	31.463	22.665
(4) Current Liabilities
(a) Short term borrowings	99.128	68.084	57.747
(b) Trade payables	16.930	18.875	23.964
(c) Other current liabilities	39.964	12.460	24.867
(d) Short-term provisions	16.575	12.588	12.092
Total Current Liabilities (4)	172.597	112.007	118.670
TOTAL	298.525	230.791	219.282
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	106.012	104.148	100.792
(ii) Intangible Assets	0.129	0.215	0.328
(iii) Capital work-in-progress	0.000	0.000	2.595
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	1.457	0.586	0.000
(d) Long-term Loan and Advances	0.342	0.224	0.098
(e) Other Non-current assets	1.231	1.027	1.149
Total Non-Current Assets	109.171	106.200	104.962
(2) Current assets
(a) Current investments	0.025	0.000	0.000
(b) Inventories	40.907	30.284	34.578
(c) Trade receivables	92.914	50.838	57.723
(d) Cash and cash equivalents	21.342	20.554	1.873
(e) Short-term loans and advances	33.885	22.703	20.146
(f) Other current assets	0.281	0.212	0.000
Total Current Assets	189.354	124.591	114.320
TOTAL	298.525	230.791	219.282

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	626.624	532.456	455.339
		Other Income	1.758	0.261	0.050
		TOTAL (A)	628.382	532.717	455.389
Less	EXPENSES
		Cost of Material Consumed	457.007	384.512	339.866
		Change in inventory of FG, WIP and stock in trade	(3.836)	(5.296)	(1.263)
		Employee benefits expenses	40.074	35.007	26.403
		Others expenses	81.669	70.882	48.826
		TOTAL (B)	574.914	485.105	413.832
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		53.468	47.612	41.557
Less	FINANCIAL EXPENSES (D)		12.061	10.576	8.413
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		41.407	37.036	33.144
Less	DEPRECIATION/ AMORTISATION (F)		22.132	20.784	13.818
	PROFIT BEFORE TAX (E-F) (G)		19.275	16.252	19.326
Less	TAX (H)		6.524	5.465	6.563
	PROFIT AFTER TAX (G-H) (I)		12.751	10.787	12.763
	EARNINGS IN FOREIGN CURRENCY
		Export of Materials: PP Yarn	35.931	32.371	21.088
	TOTAL EARNINGS		35.931	32.371	21.088
	Earnings Per Share (Rs.)		10.20	8.63	10.21

Particulars	31.03.2014
Sales Turnover (Approximately)	800.000

Expected Sales (2014-2015): Rs. 900.000 Millions

The above information has been parted by Mr. Arshad (Manager).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.03	2.02	2.80
Net Profit Margin (PBT/Sales)	(%)	3.08	3.05	4.24
Return on Total Assets (PBT/Total Assets}	(%)	6.49	7.06	8.92
Return on Investment (ROI) (PBT/Networth)		0.19	0.19	0.25
Debt Equity Ratio (Total Debt/Networth)		1.25	1.14	1.03
Current Ratio (Current Asset/Current Liability)		1.10	1.11	0.96

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	20.365	20.365	20.365
Reserves & Surplus	57.582	66.956	79.708
Net worth	77.947	87.321	100.073
long-term borrowings	22.403	31.203	25.568
Short term borrowings	57.747	68.084	99.128
Total borrowings	80.150	99.287	124.696
Debt/Equity ratio	1.028	1.137	1.246

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	455.339	532.456	626.624
		16.936	17.686

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	455.339	532.456	626.624
Profit	12.763	10.787	12.751
	2.80%	2.03%	2.03%

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 four 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	Yes
18]	Major customers	Yes
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	Yes

INDEX OF CHARGE:

SR. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10442844	18/11/2013 *	144,760,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	B91007500

* Date of charge modification

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Other loan
From Directors	13.243	14.163
Deposits
From Others	12.325	11.405
Short Term Borrowings
From Banks – Buyers Credit	62.439	54.453
Total	88.007	80.021

OPERATION:

The turnover during the year has increased to Rs. 628.381 Millions from Rs. 532.717 Millions as compared to last year. The profit before tax is Rs. 16.252 Millions. The Company is looking forward for better prospect in coming years.

The Company posted another year of strong performance across all financial parameters, leveraging its corporate strategy of creating multiple drivers of growth. This performance is even more encouraging when viewed against the backdrop of the extremely challenging business context. Also the Directors are continuously planning and implementing various strategies so as to lower down the finance cost and other cost of production.

FINANCE:

The Finance availed from Bank of Baroda is fully paid and the company has availed finance from HDFC Bank.

FIXED ASSETS:

· Factory Building

· Factory Land

· Plant and Machinery

· Furniture and Fixtures

· Office Equipments

· Air Conditioner

· Electrical Installations

· D.G. Set

· Borewell

· Fridge

· Television

· Honda City

· Indica Car

· Mobile Set

· Maruti Swift

· Motor Cycle

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.61.35
UK Pound	1	Rs.98.93
Euro	1	Rs.77.92

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.