MIRA INFORM REPORT

Report Date :

15.09.2014

IDENTIFICATION DETAILS

Name :	ASIA MATCH COMPANY PRIVATE LIMITED

Registered Office :	17-A, Boopathy Building, Virudhunagar Road, Sivakasi - 626123, Tamilnadu

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	16.04.1971

Com. Reg. No.:	18-005975

Capital Investment / Paid-up Capital :	Rs. 7.200 Millions

CIN No.: [Company Identification No.]	U24291TN1971PTC005975

IEC No.:	0488012031

TAN No.: [Tax Deduction & Collection Account No.]	MRIA00624B

PAN No.: [Permanent Account No.]	AACCAZ744G

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporter of Safety Match Sticks.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 154000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to low profitability. However, trade relation are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

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

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

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years. China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes that many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies. A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 BY

Name :	Mr. Pramod Shankar
Designation :	Director
Contact No.:	91-9894223156
Date :	12.09.2014

LOCATIONS

Registered Office/ Factory :	17-A, Boopathy Building, Virudhunagar Road, Sivakasi-626123, Tamilnadu, India
Tel. No.:	91-4562-2224228/ 234000/ 222422
Mobile No.:	91-9894223156/ 9500915456 (Mr. Pramod Shankar)
Fax No.:	91-4562-227265/222056
E-Mail :	pioneev@pioneerasia.com finance@pioineerasia.com export@pioneerasia.com
Website :	www.pioneerasia.com
Area :	4 Acre
Location	Owned

Factories :	Located at Sivakasi Thiruthangal Sattur Maravarperunkudi Virudhunagar Kadambankulam Ezhumalai Erichanatham Puliankulam Moolipatti

DIRECTORS

As on 24.09.2013

Name :

Mr. Sankaralingam Annamalai

Designation :

Director

Address :

Boopathy Buildings, 16, Virudh Nagar Road, Sivakasi - 626123, Tamilnadu, India

Date of Birth/Age :

26.04.1947

Date of Appointment :

12.07.1972

DIN No.:

00001381

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	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	12/07/1972	12/07/1972	Active	NO
2	U24297TN1972PLC006245	PANDIAN CHEMICALS LIMITED	Director	29/09/1973	29/09/1973	Active	NO
3	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	Active	NO
4	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	Active	NO
5	U65993TN1984PTC010640	NIRANJAN SANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	Active	NO
6	U36911TN1987PLC014168	MEPCO INDUSTRIES LIMITED	Director	22/12/2006	25/03/1987	Active	NO
7	U20296TN1992PTC061574	PIONEER MARINE PRODUCTS Private Limited	Director	02/09/1992	02/09/1992	Active	NO
8	U51909TN1993PTC061576	PIONEER OVERSEAS PVT LTD	Director	19/08/1993	19/08/1993	Active	NO
9	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	18/05/1994	18/05/1994	Active	NO
10	U28910TN1961PLC004478	THE METAL POWDER COMPANY LIMITED	Director	15/10/1994	15/10/1994	Active	NO
11	U74999TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	Active	NO
12	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	Active	NO
13	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	Active	NO
14	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	Active	NO
15	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	Active	NO
16	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	21/09/2005	21/09/2005	Active	NO
17	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Managing director	02/11/2006	02/11/2006	Active	NO
18	U31103TN1995PTC074436	TAMARAI HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	Active	NO
19	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	Active	NO
20	U74900TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	23/01/2008	23/01/2008	Active	NO
21	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	11/01/2010	11/01/2010	Active	NO
22	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	11/01/2010	11/01/2010	Active	NO
23	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	19/11/2010	19/11/2010	Active	NO
24	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	10/12/2012	06/01/2012	Active	NO
25	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	10/12/2012	01/02/2012	Active	NO
26	U74900TN2012PTC086873	VENNILA HOLDINGS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	Active	NO

Name :

Mr. Maheswaran Sankaralingam

Designation :

Director

Address :

174/A-1, Gnanagiri Road, Sivakasi - 626123, Tamilnadu, India

Date of Birth/Age :

07.09.1948

Date of Appointment :

12.07.1972

DIN No.:

00143046

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	U22121TN1968PTC005639	STANDARD PAPER CONTAINERS PRIVATE LIMITED	Director	14/08/1968	14/08/1968	Active	NO
2	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	12/07/1972	12/07/1972	Active	NO
3	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	Active	NO
4	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	20/11/1976	20/11/1976	Active	NO
5	L21012PY1974PLC000125	THE PONDICHERRY PAPERS LIMITED	Director	30/11/1976	30/11/1976	Active	NO
6	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	Active	NO
7	U65993TN1984PTC010638	PRADEEP SANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	Active	NO
8	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	Active	NO
9	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	04/12/1987	04/12/1987	Active	NO
10	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	Active	NO
11	U20296TN1992PTC061574	PIONEER MARINE PRODUCTS Private Limited	Director	02/09/1992	02/09/1992	Active	NO
12	U51909TN1993PTC061576	PIONEER OVERSEAS PVT LTD	Director	19/08/1993	19/08/1993	Active	NO
13	U24292TN1993PLC024919	STANDARD PYROTECHNICS LTD	Director	30/01/1994	30/01/1994	Active	NO
14	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	Active	NO
15	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Director	01/10/2012	10/08/1995	Active	NO
16	U74999TN1996PTC037121	PIONEER WINCON PRIVATE LIMITED	Director	13/12/1996	13/12/1996	Active	NO
17	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Managing director	28/12/2013	12/10/1998	Active	NO
18	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	Active	NO
19	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	Active	NO
20	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	22/07/2005	22/07/2005	Active	NO
21	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	07/08/2006	07/08/2006	Active	NO
22	U31103TN1995PTC074436	TAMARAI HOMES PRIVATE LIMITED	Director	24/11/2006	24/11/2006	Active	NO
23	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	23/03/2007	23/03/2007	Active	NO
24	U74900TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	23/01/2008	23/01/2008	Active	NO
25	U24291TN2008PTC068179	SOLOPIONEER MATCH PRIVATE LIMITED	Director	12/06/2008	12/06/2008	Active	NO
26	U16004TN2008PTC068374	CHAVI ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	Active	NO
27	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	26/06/2008	26/06/2008	Active	NO
28	U22219TN2008PTC068796	BLUE HILLS ENTERPRISES PRIVATE LIMITED	Director	07/08/2008	07/08/2008	Active	NO
29	U93090TN1949GAP002688	ALL INDIA CHAMBER OF MATCH INDUSTRIES	Director	27/05/2010	27/05/2010	Active	NO
30	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	19/11/2010	19/11/2010	Active	NO
31	U74900TN2011PTC083535	TAMARAI FIREWORKS PRIVATE LIMITED	Director	01/02/2012	01/02/2012	Active	NO
32	U74999TN2011PTC083215	RHINO FIREWORKS PRIVATE LIMITED	Director	01/02/2012	01/02/2012	Active	NO
33	U74900TN2011PTC083146	PIONEER FIREWORKS PRIVATE LIMITED	Director	01/02/2012	01/02/2012	Active	NO
34	U24292PY1988PTC000611	BELL PYROTECHNICS PVT LTD	Director	01/04/2012	01/04/2012	Active	NO
35	U74900TN2012PTC086873	VENNILA HOLDINGS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	Active	NO
36	U24291TN1999PTC041999	ARUNSANKAR MATCH INDUSTRIES PRIVATE LIMITED	Director	24/09/2013	27/08/2013	Active	NO
37	U24292TN1990PTC019468	RAJARATNAM FIREWORKS PRIVATE LIMITED	Additional director	29/08/2013	29/08/2013	Active	NO

Name :

Mr. Arunachalam Tenzing

Designation :

Director

Address :

‘Pioneer House’, 174, Gnanagiri Road, Viridhnagar, Sivakasi - 626123, Tamilnadu, India

Date of Birth/Age :

17.06.1953

Date of Appointment :

20.08.1982

DIN No.:

00014412

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	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	02/08/1976	02/08/1976	-	Active	NO
2	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	20/08/1982	20/08/1982	-	Active	NO
3	U20211TN1976PTC007225	ASIA TIMBER PRODUCTS PRIVATE LIMITED	Director	20/08/1982	20/08/1982	-	Active	NO
4	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Director	10/03/1983	10/03/1983	-	Active	NO
5	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Director	16/03/1983	16/03/1983	-	Active	NO
6	U65993TN1984PTC010639	ARUNSANKAR ENTERPRISES PRIVATE LIMITED	Director	09/02/1984	09/02/1984	-	Active	NO
7	U27203TN1983PLC009916	ALUMINIUM POWDER COMPANY LIMITED	Director	01/08/1984	01/08/1984	-	Active	NO
8	U60210TN1961PTC004641	TENZING TRANSPORTS PRIVATE LIMITED	Director	12/04/1985	12/04/1985	-	Active	NO
9	U24290TN1980PTC008210	MODERN MATCHES PRIVATE LIMITED	Director	04/12/1987	04/12/1987	-	Active	NO
10	U24292TN1990PTC019468	RAJARATNAM FIREWORKS PRIVATE LIMITED	Director	01/08/1990	01/08/1990	-	Active	NO
11	U28910TN1961PLC004478	THE METAL POWDER COMPANY LIMITED	Director	26/09/1990	26/09/1990	-	Active	NO
12	U24294TN1991PTC025332	VICTORY CHEMICALS PRIVATE LIMITED	Director	11/07/1991	11/07/1991	25/09/2013	Active	NO
13	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	22/08/1991	22/08/1991	-	Active	NO
14	U20296TN1992PTC061574	PIONEER MARINE PRODUCTS PRIVATE LIMITED	Director	02/09/1992	02/09/1992	-	Active	NO
15	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	19/08/1993	19/08/1993	-	Active	NO
16	U24292TN1993PLC024919	STANDARD PYROTECHNICS LIMITED	Director	30/01/1994	30/01/1994	-	Active	NO
17	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Director	23/05/1994	23/05/1994	-	Active	NO
18	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	12/10/1998	12/10/1998	-	Active	NO
19	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Director	10/07/2000	10/07/2000	-	Active	NO
20	U72200TN2001PTC047036	INDUS ASUKA SOFTWARE PRIVATE LIMITED	Director	27/04/2001	27/04/2001	-	Active	NO
21	U28100TN1974PLC006569	NALCO METAL PRODUCTS LTD	Director	27/09/2001	27/09/2001	-	Active	NO
22	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	07/08/2006	07/08/2006	-	Active	NO
23	U22211TN2006PTC059398	VISALAKSHI ENTERPRISES PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
24	U24292PY1988PTC000611	BELL PYROTECHNICS PRIVATE LIMITED	Director	01/04/2012	01/04/2012	-	Active	NO
25	U74900TN2014PTC096555	GOLDEN LOTUS TRADING PRIVATE LIMITED	Director	15/07/2014	15/07/2014	-	Active	NO
26	U93090TN1955NPL002687	SIVAKASI HINDU NADARS' GIRLS SCHOOL COMMITTEE	Director	16/07/2014	16/07/2014	-	Active	NO

Name :

Mrs. Aruna Ashok

Designation :

Director

Address :

56, Shield Road, Sivakasi – 626124, Tamilnadu, India

Date of Birth/Age :

13.11.1960

Date of Appointment :

10.12.2012

DIN No.:

00143714

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	U65993TN1984PTC010653	BOOPATHY INVESTMENTS PRIVATE LIMITED	Director	16/02/1984	16/02/1984	Active	NO
2	U24291TN1999PTC041999	ARUNSANKAR MATCH INDUSTRIES PRIVATE LIMITED	Director	03/03/1999	03/03/1999	Active	NO
3	U24291TN2000PTC045347	ASHOK MATCHES AND TIMBER INDUSTRIES PRIVATE LIMITED	Whole-time director	29/06/2010	02/03/2007	Active	NO
4	U74900TN2011PTC083146	PIONEER FIREWORKS PRIVATE LIMITED	Director	15/11/2011	15/11/2011	Active	NO
5	U74999TN2011PTC083215	RHINO FIREWORKS PRIVATE LIMITED	Director	21/11/2011	21/11/2011	Active	NO
6	U74900TN2011PTC083535	TAMARAI FIREWORKS PRIVATE LIMITED	Director	12/12/2011	12/12/2011	Active	NO
7	U74999TN2005PTC057878	HIBISCUS ENTERPRISES PRIVATE LIMITED	Director	26/09/2012	06/01/2012	Active	NO
8	U20296TN1992PTC061574	PIONEER MARINE PRODUCTS PRIVATE LIMITED	Director	10/12/2012	06/01/2012	Active	NO
9	U24291TN1971PTC005975	ASIA MATCH COMPANY PRIVATE LIMITED	Director	10/12/2012	06/01/2012	Active	NO
10	U65993TN1998PTC041245	AMMAN MATCH COMPANY PRIVATE LIMITED	Director	10/12/2012	06/01/2012	Active	NO
11	U22211TN1978PTC007599	PIONEER PRESS PRIVATE LIMITED	Additional director	01/02/2012	01/02/2012	Active	NO
12	U25209TN1983PTC010341	PIONEER ASIA PACKAGING PRIVATE LIMITED	Additional director	01/02/2012	01/02/2012	Active	NO
13	U45200TN2008PTC068359	SAFFRON ENTERPRISES PRIVATE LIMITED	Director	26/09/2012	01/02/2012	Active	NO
14	U74990TN2010PTC078127	CINNAMON HOLDINGS PRIVATE LIMITED	Director	14/05/2012	01/02/2012	Active	NO
15	U31103TN1995PTC074436	TAMARAI HOMES PRIVATE LIMITED	Director	27/09/2012	01/02/2012	Active	NO
16	U15419TN1979PTC007875	PIONEER NF FORGINGS INDIA PRIVATE LIMITED	Director	28/09/2012	01/02/2012	Active	NO
17	U74900TN2005PTC057879	PARA ENTERPRISES PRIVATE LIMITED	Director	28/09/2012	01/02/2012	Active	NO
18	U51909TN1993PTC061576	PIONEER OVERSEAS PRIVATE LIMITED	Director	10/12/2012	01/02/2012	Active	NO
19	U24294TN1976PTC007180	PIONEER ASIA INDUSTRIES PRIVATE LIMITED	Director	10/12/2012	30/03/2012	Active	NO
20	U24295TN1991PTC060630	PIONEER JELLICE INDIA PRIVATE LIMITED	Director	24/12/2012	30/03/2012	Active	NO
21	U17111TN1962PLC004842	SREE AYYANAR SPINNING AND WEAVING MILLS LIMITED	Director	07/09/2012	30/03/2012	Active	NO
22	U74900TN2012PTC086873	VENNILA HOLDINGS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	Active	NO

Name :

Mr. Pramod Sankar

Designation :

Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2013

Names of Shareholders	No. of Shares
S. Annamalai	3120
S. Maheshwaran	3120
A. Tenzing	4800
S. Ashok	5280
S. Annamalai (HUF)	2280
S. Mahewaran (HUF)	2280
A. Aruna	3120
A. Tenzing (HUF)	6600
Niranjansankar Enterprises Private Limited, India	6000
Pradeepsankar Enterprises Private Limited, India	6000
Boopathy Investments Private Limited, India	6000
Arunshankar Enterprises Private Limited, India	6600
A. Niranjansankar	1500
M. Pradeepsankar	3000
T. Arunsankar	10800
A. Pramod Sankar	1500
Total	72000

As on 24.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	34.00
Directors or relatives of Directors	66.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Safety Match Sticks.

Products :

ITC Code No.	Product Description
360500-01	Safety Matches

· Safety Matches

Cardboard Matches

Wax Matches

Kitchen Matches

Barbeque Matches

Advertising Matches

Novelty Matches

Safety Match Machinery

Long Matches

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Indian Overseas Bank, Madurai Main Branch, 127, East Veli Street, Madurai - 625001, Tamilnadu, India

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

State Bank of India, Velayutham Road, Main Branch, Sivakasi - 626123, Tamilnadu, India

Lakshmi Vilas Bank Limited, Salem Road Kathaparai,Karur, Karur - 639006, Tamilnadu, India

The Lakshmi Vilas Bank Limited, Sivakasi, tamilnadu, India

· Axis Bank Limited

Tamilnad Mercantile Bank Limited

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Cash Credit From State Bank of India Limited, Sivakasi Secured by hypothecation of Stocks and receivables and personal guarantee of directors	68.621	67.353
Total	68.621	67.353

Banking Relations :	--

Auditors :
Name :	S. Chandrasekaran Chartered Accountant
Address :	12, Katha Nadar Street, Sivakasi - 626123, Tamilnadu, India
Tel No.:	91-4562-274375/ 220616
Income-tax PAN of auditor or auditor's firm :	ABEPC3994J

CAPITAL STRUCTURE

As on 24.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

100000	Equity Shares	Rs. 100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

72000	Equity Shares	Rs. 100/- each	Rs. 7.200 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	7.200	7.200	7.200
(b) Reserves & Surplus	31.437	28.748	27.985
(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)	38.637	35.948	35.185

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	29.005
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	20.145	17.562	6.663
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	20.145	17.562	35.668

(4) Current Liabilities
(a) Short term borrowings	168.314	164.469	19.759
(b) Trade payables	51.600	65.204	181.079
(c) Other current liabilities	1.898	1.922	1.092
(d) Short-term provisions	9.375	8.310	5.815
Total Current Liabilities (4)	231.187	239.905	207.745

TOTAL	289.969	293.415	278.598

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	77.253	75.673	60.919
(ii) Intangible Assets	0.000	0.000	0.000
(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	4.617	4.617	4.617
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	81.870	80.290	65.536

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	75.564	74.077	44.000
(c) Trade receivables	114.692	116.589	148.515
(d) Cash and cash equivalents	3.028	8.606	7.704
(e) Short-term loans and advances	8.482	6.922	5.143
(f) Other current assets	6.333	6.931	7.700
Total Current Assets	208.099	213.125	213.062

TOTAL	289.969	293.415	278.598

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	818.740	1012.359	599.453
		Other Income	8.184	7.638	7.642
		TOTAL (A)	826.924	1019.997	607.095

Less	EXPENSES
		Cost of Goods Sold	336.250	286.196	118.792
		Purchase of stock-in-trade	260.695	508.797	346.503
		Changes in inventories of finished goods	(6.692)	(16.191)	4.467
		Employee benefits expenses	125.063	113.472	53.458
		Other expanses	78.091	93.198	62.387
		TOTAL (B)	793.407	985.472	585.607

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		33.517	34.525	21.488

Less	FINANCIAL EXPENSES (D)		21.251	24.664	13.023

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		12.266	9.861	8.465

Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.926	9.098	6.404

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		3.340	0.763	2.061

Less	TAX (H)		0.650	0.000	0.000

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		2.690	0.763	2.061

	Earnings / (Loss) Per Share (Rs.)		13.45	3.81	10.31

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.33	0.07	0.34

Net Profit Margin (PBT/Sales)	(%)	0.41	0.08	0.34

Return on Total Assets (PBT/Total Assets}	(%)	1.17	0.26	0.75

Return on Investment (ROI) (PBT/Networth)		0.09	0.02	0.06

Debt Equity Ratio (Total Debt/Networth)		4.36	4.58	1.39

Current Ratio (Current Asset/Current Liability)		0.90	0.89	1.03

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	7.200	7.200	7.200
Reserves & Surplus	27.985	28.748	31.437
Net worth	35.185	35.948	38.637

long-term borrowings	29.005	0.000	0.000
Short term borrowings	19.759	164.469	168.314
Total borrowings	48.764	164.469	168.314
Debt/Equity ratio	1.386	4.575	4.356

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	599.453	1012.359	818.740
		68.880	-19.126

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	599.453	1012.359	818.740
Profit	2.061	0.763	2.690
	0.34%	0.08%	0.33%

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10388185	29/10/2012	110,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B62658216
2	10293791	11/05/2011	22,800,000.00	STATE BANK OF INDIA	VELAYUTHAM ROAD, MAIN BRANCH, SIVAKASI, TAMILNADU - 626123, INDIA	B15610231
3	10065377	29/08/2008 *	127,800,000.00	LAKSHMI VILAS BANK LIMITED	SALEM ROAD KATHAPARAI, KARUR, KARUR, TAMILNADU, TAMILNADU - 639006, INDIA	A44300796
4	90286946	31/10/2011 *	800,000,000.00	INDIAN OVERSEAS BANK	MADURAI MAIN BRANCH, 127, EAST VELI STREET, MADURAI, TAMIL NADU - 625001, INDIA	B28270924
5	90298012	14/03/1987	465,600.00	STATE BANK OF INDIA	SIVAKASI, SIVAKASI, TAMILNADU, INDIA	-
6	90295475	17/06/2002 *	5,067,500.00	STATE BANK OF INDIA	SIVAKASI, SIVAKASI, TAMILNADU, INDIA	-
7	90295474	02/11/2010 *	40,549,000.00	INDIAN OVERSEAS BANK	GEETHALAYA BUILDINGS, CHAIRMAN SHUNMUGA NADAR ROAD, SIVAKASI, TAMILNADU - 626123, INDIA	B01556091
8	90297287	21/05/2011 *	90,400,000.00	STATE BANK OF INDIA	VELAYUTHAM ROAD, MAIN BRANCH, SIVAKASI, TAMILNADU - 626123, INDIA	B15286149
9	80039668	09/08/2008 *	58,425,000.00	INDIAN OVERSEAS BANK	GEETHALAYA BUILDINGS, CHAIRMAN SHUNMUGA NADAR ROAD, SIVAKASI, TAMILNADU - 626123, INDIA	A44921534

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Loan and advances from related parties	99.693	97.116
Total	99.693	97.116

FINANCIAL RESULTS

The Production of matches in the manufacturing units of the Company has increased to 76,48,159 units from 74,53,343 units produced in the previous year. The purchase of matches has decreased to 44,84,718 units from 89,90,841 units purchased during the previous year. The quantum of sales during the year has also decreased to 1,19,47,997 units as against 1,62,99,863 units sold in the previous year.

As the Company had to face the cut-throat competition from the match companies resorting to direct marketing of their products through undercutting techniques, the Company had to offer rebates to customers to withstand the fierce competition and to retain its share in the matches market. Inspire of the strenuous effects taken by the Directors, a sizable erosion of the market share of the Company could not be avoided. Concerted efforts of cost control are being taken by the Directors for improving the profitability of the operations of the Company.

The operations of the Company during the year have resulted in a Net profit Rs.2.701 Millions as against the Net Profit of Rs. 0.763 Millions for the last year.

FIXED ASSETS

· Land – Freehold

Buildings

Buildings on Leasehold Land

Plant and Machinery

Office Appliances and Equipment’s

Vehicles

Furniture and Fittings

Livestock

Match Accessories

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 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.60.84
UK Pound	1	Rs.98.73
Euro	1	Rs.78.64

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	SUM

Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

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.

MIRA INFORM REPORT

Unit