MIRA INFORM REPORT

Report Date :

19.09.2014

IDENTIFICATION DETAILS

Name :	SHUBHALAKSHMI POLYESTERS LIMITED
Registered Office :	401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri (West), Mumbai – 400053, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.09.2005
Com. Reg. No.:	11-190937
Capital Investment / Paid-up Capital :	Rs. 339.917 Millions
CIN No.: [Company Identification No.]	U17110MH2005PLC190937
PAN No.: [Permanent Account No.]	AAJCS2757C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Yarns.
No. of Employees :	1500 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealings. 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	CARE
Rating	Long Term Bank Facilities: “BBB –”
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	04.04.2014

Rating Agency Name	CARE
Rating	Short Term Bank Facilities: “A3”
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	04.04.2014

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. Sanjay Jain
Designation :	Accounts Manager
Contact No.:	91-22-26744375

LOCATIONS

Registered/ Corporate Office :	401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-26744375 / 6
Fax No.:	91-22-26744377
E-Mail :	export@shubhalakshmi.com enqury@shubhalakshmi.com shubhl@vsnl.com sanjay@shubhalakshmi.com subhalakshmi@sify.com pradeepsinghica@yahoo.co.in anupam@shubhalakshmi.com subhash@shubhakakshmi.com investor@shubhalakshmi.com
Website :	www.shubhalakshmi.com
Location:	Owned
Head Office :	418, Jeevandeep Complex, Opposite J. K. Tower, Ring Road, Surat – 395002, Gujarat, India
Tel No.:	91-261-2354402/3
Fax No.:	91-261-2354401
E-mail Id :	corporate@shubhalakshmi.com
Factory 1:	Survey No.179/1/2, Village: Silli, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India
Tel. No.:	91-260-3253441 / 42
Fax No.:	91-260-2632939
E-Mail :	enquiry@shubhalakshmi.com
Factory 2:	376/2, 16-17-22, Opposite Rishi Packer, Kachigam, Union Territory of Daman and Diu, India
Tel No.:	91-260 - 2240117 / 2241535
Factory 3 :	Located at · Bharuch, Gujarat, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Ajay Agarwal

Designation :

Managing Director

Address :

A-302, Nanadigram Apartments, Ghod Dod Road, Opposite Parle Point, Surat-395001, Gujarat, India

Date of Birth/Age :

23.02.1963

Date of Appointment :

01.04.2012

PAN No.:

AACPA1348P

DIN No.:

00088953

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	U17297GJ1987PLC009689	SHUBHALAKSHMI INDUSTRIES LIMITED	Director	01-06-1987	01-06-1987	-	Amalgamated	NO
2	U17119GJ1991PTC014906	SHUBHLAXMI DYETEX PRIVATE LIMITED	Director	16-01-1991	16-01-1991	-	Active	NO
3	U17119GJ1991PLC015677	SHUBHLAXMI POLYTEX LIMITED	Director	17-05-1991	17-05-1991	17-03-2010	Active	NO
4	U72200GJ2000PTC038298	SHUBHALAKSHMI PETRO-YARNS PRIVATE LIMITED	Director	27-01-2004	27-01-2004	17-09-2009	Active	NO
5	U17110MH2005PLC190937	SHUBHALAKSHMI POLYESTERS LIMITED	Managing director	01-04-2012	13-09-2005	-	Active	NO
6	U45300GJ2006PLC047780	SURAT SUPER YARN PARK LIMITED	Additional director	14-08-2006	14-08-2006	01-08-2011	Active	NO
7	U17120MH1972GAT016028	ASSOCIATION OF SYNTHETIC FIBRE INDUSTRY	Nominee director	25-08-2006	25-08-2006	-	Active	NO
8	U17120GJ2007PLC051574	SURAT SUPER FILAMENT LIMITED	Director	23-08-2007	23-08-2007	01-09-2011	Active	NO
9	U45201GJ2001PTC039777	R.B.A PROJECTS PRIVATE LIMITED	Director	01-03-2008	01-03-2008	-	Active	NO
10	U40106DL2008PTC224786	SUNKON ENERGY PRIVATE LIMITED	Director	13-02-2010	13-02-2010	-	Active	NO
11	U40101MH2010PTC201233	INDUS SOLAR PRIVATE LIMITED	Director	24-03-2010	24-03-2010	-	Active	NO
12	U40104DL2010PTC201381	DAHEJ ENERGY PRIVATE LIMITED	Director	29-09-2011	09-04-2010	-	Active	NO
13	U40106GJ2010PTC060486	NEXGEN SOLAR PARK PRIVATE LIMITED	Director	29-04-2010	29-04-2010	-	Active	NO
14	U01400GJ2010PTC060507	FERRO AGRO PARK PRIVATE LIMITED	Director	30-04-2010	30-04-2010	-	Active	NO

Name :

Mr. Vikas Agarwal

Designation :

Director

Address :

51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West), Mumbai-400053, Maharashtra, India

Date of Birth/Age :

30.08.1981

Date of Appointment :

01.04.2012

PAN No.:

ADVPA1863D

DIN No.:

00089659

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	U72200GJ2000PTC038298	SHUBHALAKSHMI PETRO-YARNS PRIVATE LIMITED	Director	03-07-2000	03-07-2000	07-09-2009	Active	NO
2	U17110MH2005PLC190937	SHUBHALAKSHMI POLYESTERS LIMITED	Whole-time director	01-04-2012	13-09-2005	-	Active	NO
3	U40106GJ2010PTC060486	NEXGEN SOLAR PARK PRIVATE LIMITED	Director	29-04-2010	29-04-2010	-	Active	NO

Name :

Mr. Ramu Raman Late Babulal Agarwal

Designation :

Director

Address :

51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West), Mumbai-400053, Maharashtra, India

Date of Birth/Age :

22.11.1949

Date of Appointment :

30.06.2011

DIN No.:

00203860

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	U17297GJ1987PLC009689	SHUBHALAKSHMI INDUSTRIES LIMITED	Director	01-06-1987	01-06-1987	-	Amalgamated	NO
2	U17119GJ1991PLC015677	SHUBHLAXMI POLYTEX LIMITED	Director	15-06-1992	15-06-1992	17-03-2010	Active	NO
3	L99999MH1987PLC044942	SHREE HARI CHEMICALS EXPORT LIMITED	Whole-time director	01-04-2007	29-10-1998	01-04-2012	Active	NO
4	U72900MH2000PTC127901	SHUBHALAKSHMI FARMAKEM PRIVATE LIMITED	Director	25-07-2000	25-07-2000	25-03-2011	Active	NO
5	U17110MH2005PLC190937	SHUBHALAKSHMI POLYESTERS LIMITED	Director	30-06-2011	13-09-2005	-	Active	NO
6	U40109MH2010PTC199414	SAMRIDHI GLOBAL INDUSTRIES PRIVATE LIMITED	Director	28-01-2010	28-01-2010	25-03-2011	Active	NO

Name :

Mr. Manoj Agarwal

Designation :

Director

Address :

41-Royal Accord, 4^th Floor, Opposite Lokhandwala Complex, Andheri (West) Mumabi-400090, Maharashtra, India

Date of Birth/Age :

16.08.1977

Date of Appointment :

13.09.2005

PAN No.:

AAKPA6827F

DIN No.:

00267951

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	U72200GJ2000PTC038298	SHUBHALAKSHMI PETRO-YARNS PRIVATE LIMITED	Director	03-07-2000	03-07-2000	07-09-2009	Active	NO
2	U72900MH2000PTC127901	SHUBHALAKSHMI FARMAKEM PRIVATE LIMITED	Director	25-07-2000	25-07-2000	-	Active	NO
3	U17297GJ1987PLC009689	SHUBHALAKSHMI INDUSTRIES LIMITED	Director	01-12-2000	01-12-2000	-	Amalgamated	NO
4	U17110MH2005PLC190937	SHUBHALAKSHMI POLYESTERS LIMITED	Director	13-09-2005	13-09-2005	-	Active	NO
5	U01400GJ2010PTC060507	FERRO AGRO PARK PRIVATE LIMITED	Director	30-04-2010	30-04-2010	-	Active	NO
6	U40109MH2010PTC199414	SAMRIDHI GLOBAL INDUSTRIES PRIVATE LIMITED	Director	25-07-2011	25-03-2011	-	Active	NO
7	U99100MH1954NPL009434	THE SYNTHETIC AND RAYON TEXTILES EXPORT PROMOTION COUNCIL	Director	10-09-2012	10-09-2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mahesh Kumar Poddar
Designation :	Company Secretary
Address :	C-201, Whispering Palms-XXclusive, Lokhandwala Complex, Kandiwali East, Mumbai-400101, Maharashtra, India
Date of Birth/Age :	15.03.1974
Date of Appointment :	01.07.2011
PAN No.:	AIWPP1708N
Name :	Mr. Sanjay Jain
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Ajaykumar Agarwal	846020
Bankesh Chandra Agarwal	748445
Ramu Raman Agarwal	737392
Manoj Kumar Agarwal	563000
Vikas Agarwal	526333
Shailendra Chaudhary	34333
Vikram Chaudhary	1000
Shubhlaxmi Dyetex Private Limited, India	31116072
Ajay Kumar Agarwal –HUF	97523
Babulal Agarwal –HUF	54028
Bankesh Chandra Agarwal –HUF	68334
Ramau Raman Agarwal - HUF	162053
Gayatri Devi Agarwal	119393
Kanta Agarwal	3000
Narangi Devi Agarwal	69000
Suman Agarwal	131975
Chandra Choudhary	12500
Shubhalakshmi Petro-Yarns Private Limited, India	841337
TOTAL	36131738

ALLOTTEE AS ON 01.10.2013

Names of Allottee	No. of Shares
Narangi Devi Agarwal	35000
Suman Agarwal	7000
Total	42000

ALLOTTEE AS ON 11.10.2013

Names of Allottee	No. of Shares
Suman Agarwal	28500
Total	28500

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	88.45
Directors or relatives of directors	11.55
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Yarns.

Products :

Item Code No. (ITC Code)	Product Description
54024700	Synthetic Yarn and Fiber

GENERAL INFORMATION

Suppliers :

Indian Oil

No. of Employees :

1500 [Approximately]

Bankers :

· Bank of Baroda, Parsi, Sheri Branch, Surat-395003, Gujarat, India

State Bank of India - State Bank of India, BOB- Parsi, Sheri BR SBI – Special Commercial BR, Surat – 395003, Gujarat, India

IDBI Bank Limited, ESS En House, Ghod Dod Road, Surat - 395007, Gujarat, India

Allahabad Bank

IDBI Bank

Axis Bank Limited

Kotak Mahindra Bank

State Bank of Travancore

Facilities :

SECURED LOAN	31.03.2013 [Rs. in Millions]	31.03.2012 [Rs. in Millions]
LONG TERM BORROWINGS
Rupee term loans from banks	3100.725	2249.714
Other loans and advances	7.138	6.712
SHORT TERM BORROWINGS
Rupee term loans from banks	69.651	0.000
Working capital loans from banks	1280.189	458.845
Other loans and advances	0.204	1.178
TOTAL	4457.907	2716.449

Banking Relations :	--
Auditors :
Name :	Pradeep Singhi and Associates Chartered Accountants
Address :	A/501, President Plaza, Near RTO, Ring Road, Nanpura, Surat, Gujarat, India
PAN No:	ADRPS1701L
Holding Company :	Shubhlaxmi Dyetex Private Limited [U17119GJ1991PTC014906]

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital : Rs. 450.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 397.374 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs. 400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
33991738	Equity Shares	Rs.10/- each	Rs. 339.917 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	339.917	246.977	214.949
(b) Reserves & Surplus	1755.144	1073.423	740.564
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	100.000
Total Shareholders’ Funds (1) + (2)	2095.061	1320.400	1055.513
(3) Non-Current Liabilities
(a) long-term borrowings	3214.659	2257.401	1006.118
(b) Deferred tax liabilities (Net)	200.536	136.660	115.927
(c) Other long term liabilities	283.664	66.423	21.506
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	3698.859	2460.484	1143.551
(4) Current Liabilities
(a) Short term borrowings	1350.044	460.023	465.948
(b) Trade payables	1697.274	514.039	529.392
(c) Other current liabilities	263.687	239.304	8.011
(d) Short-term provisions	149.106	110.367	95.864
Total Current Liabilities (4)	3460.111	1323.733	1099.215
TOTAL	9254.031	5104.617	3298.279
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5162.231	1566.406	1480.620
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	7.072	1845.567	150.731
(iv) Intangible assets under development	40.733	30.668	0.000
(b) Non-current Investments	35.101	35.093	8.051
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	33.535	22.134	22.132
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5278.672	3499.868	1661.534
(2) Current assets
(a) Current investments	2.627	53.025	88.093
(b) Inventories	1345.803	373.126	506.741
(c) Trade receivables	1622.390	722.559	594.295
(d) Cash and cash equivalents	376.191	268.948	258.514
(e) Short-term loans and advances	625.364	185.353	188.797
(f) Other current assets	2.984	1.738	0.305
Total Current Assets	3975.359	1604.749	1636.745
TOTAL	9254.031	5104.617	3298.279

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		7505.760	5669.152	4537.472
		Other Income		9.572	8.808	2.508
	TOTAL (A)			7515.332	5677.960	4539.980
Less	EXPENSES
		Cost of Materials Consumed		6436.743	4709.905	3676.600
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		(151.332)	(62.781)	(60.714)
		Employees benefits expense		130.754	97.475	83.982
		Other expenses		629.306	538.131	440.406
	TOTAL (B)			7045.471	5282.730	4140.274
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)			469.861	395.230	399.706
Less	FINANCIAL EXPENSES (D)			175.830	102.354	80.487
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			294.031	292.876	319.219
Less/ Add	DEPRECIATION/ AMORTISATION (F)			111.431	94.666	80.733
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)			182.600	198.210	238.486
Less	TAX (I)			(0.023)	33.847	36.976
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)			182.623	164.363	201.510
	EARNINGS IN FOREIGN CURRENCY
			Exports Earnings	287.257	137.632	206.522
	TOTAL EARNINGS			287.257	137.632	206.522
	IMPORTS
		Raw Materials		735.122	0.000	0.000
		Components and Stores parts		91.266	0.000	0.000
		Capital Goods		698.444	0.000	0.000
	TOTAL IMPORTS			1524.832	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)			5.37	6.65	9.37

Particulars	31.03.2014
Sales Turnover (Approximately)	20000.000

The above information has been parted by Mr. Sanjay Jain.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.43	2.89	4.44
Net Profit Margin (PBT/Sales)	(%)	2.43	3.50	5.26
Return on Total Assets (PBT/Total Assets}	(%)	1.99	6.21	7.60
Return on Investment (ROI) (PBT/Networth)		0.09	0.15	0.23
Debt Equity Ratio (Total Debt/Networth)		2.18	2.06	1.39
Current Ratio (Current Asset/Current Liability)		1.15	1.21	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	214.949	246.977	339.917
Reserves & Surplus	740.564	1073.423	1755.144
Share Application money pending allotment	100.000	0.000	0.000
Net worth	1055.513	1320.400	2095.061
long-term borrowings	1006.118	2257.401	3214.659
Short term borrowings	465.948	460.023	1350.044
Total borrowings	1472.066	2717.424	4564.703
Debt/Equity ratio	1.395	2.058	2.179

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	4537.472	5669.152	7505.760
		24.941	32.397

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	4537.472	5669.152	7505.760
Profit	201.510	164.363	182.623
	4.44%	2.90%	2.43%

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	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	Yes
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10455072	05/10/2013	5,387,200,000.00	BANK OF BARODA	PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA	B87492393
2	10455073	05/10/2013	5,387,200,000.00	BANK OF BARODA	PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA	B87491700
3	10432231	17/06/2013	500,000,000.00	BANK OF BARODA	PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA	B77561694
4	10359331	06/06/2012	58,500,000.00	IDBI BANK LIMITED	IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI, BRANCH AT 2ND FLOOR, ESSEN HOUSE, GHOD DOD ROAD, SURAT - 395009, GUJARAT, INDIA	B41088253
5	10358963	11/05/2012	150,000,000.00	STATE BANK OF TRAVANCORE	RAJHANS COMPLEX, 0PP.J.K TOWER, RING ROAD,SURAT, SURAT - 395002, GUJARAT, INDIA	B40909608
6	10201640	01/02/2010	89,000,000.00	IDBI BANK LIMITED	ESS EN HOUSE, GHOD DOD ROAD, SURAT - 395007, GUJARAT, INDIA	A79150314
7	10009861	16/06/2013 *	113,600,000.00	STATE BANK OF INDIA	MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA -  390007, GUJARAT, INDIA	B79181020
8	10007280	30/01/2013 *	7,369,600,000.00	BANK OF BARODA	PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA	B67573303
9	90094980	28/06/1997	11,700,000.00	BANK OF BARODA	PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA	-
10	90243086	12/04/1991	4,750,000.00	STATE BANK OF INDIA	SP COMM. BRNCH, SURAT, GUJARAT, INDIA	-

* Date of charge modification

CHANGE OF ADDRESS

The Registered Office of the company has been shifted from “418 Jeevandeep Complex, Opposite J.K. Tower Ring road, Surat – 395002, Gujarat, India” to present w.e.f 23.02.2009.

PROGRESS

The Company has set up a new plant for manufacturing of PET Chips having capacity of 600 TPD at Bhensali, Dahej and operation of this plant has started in the last quarter of the year. The Company has capitalized all the pre-operative expenditure and depreciation has been provided on Straight Line method (SLM) as per Section 205 (2) of the Companies Act, 1956.

UNSECURED LOANS

PARTICULARS	31.03.2013 [Rs. in Millions]	31.03.2012 [Rs. in Millions]
LONG TERM BORROWINGS
Deposits from directors	6.796	0.975
Loans and advances from related parties	100.000	0.000
TOTAL	106.796	0.975

FIXED ASSETS

· Land and Buildings

Plant and Equipment

Furniture and Fixtures

Motor Vehicles

Office Equipment

Computer Equipments

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.61.06
UK Pound	1	Rs.99.55
Euro	1	Rs.78.57

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	DIV
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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		45

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.