MIRA INFORM REPORT

Report No. :	314587
Report Date :	01.04.2015

IDENTIFICATION DETAILS

Name :	COSMO FILMS LIMITED
Registered Office :	1008, DLF Tower- A, Jasola District Centre, New Delhi – 110025, Delhi
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.10.1976
Com. Reg. No.:	55-008355
Capital Investment / Paid-up Capital :	Rs.194.400 Millions
CIN No.: [Company Identification No.]	L92114DL1976PLC008355
TAN No.: [Tax Deduction & Collection Account No.]	NSKC01059C
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Public Limited Liability Company. Company's Shares are Listed on the Stocks Exchange.
Line of Business :	Manufacturers Of Bi-Axially Oriented Polypropylene Films (BOPP)
No. of Employees :	Not Divulged

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 10000000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Declined over a year. However, the rating takes into consideration company’s sound financial risk profile and fair liquidity position of the company. Trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings at usual trade terms and condition.

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 DENIED BY

Management non - corporative

LOCATIONS

Registered Office :	1008, DLF Tower- A, Jasola District Centre, New Delhi - 110025, India
Tel. No.:	91-11-49494949
Fax No.:	91-11-49494950
E-Mail :	ashok@dl.cosmo.sprintsmx.ems.vsnl.net.in mgredp@cosmofilms.com mm.rao@gndel-cfldel.global.net.in skmittal@gndel-cfldel.global.net.in murali@cosmofilms.com secretary@cosmofilms.com investor.relations@cosmofilms.com
Website :	http://www.cosmo-india.com http://www.cosmofilms.com
Head Office :	1008, DLF Tower-A Jasola District Centre, New Delhi- 110025, India
E-Mail :	investor.relations@cosmofilms.com
Factory 1 :	J-4, MIDC Industrial Area, Chikalthana, Aurangabad – 431210, Maharashtra, India
Tel. No.:	91-240-2485894
Factory 2 :	B-14/8-9, MIDC Industrial Area, Waluj, Aurangabad – 431136, Maharashtra, India
Tel. No.:	91-240-2554612 / 13 / 14 / 2554611
Fax No.:	91-240-2554416 / 2556275
E-Mail :	gopi@cosmofilms.com
Factory 3	B – 21, MIDC Industrial Area, Aurangabad – 431136, Maharashtra, India
Tel No.:	91-240-2551888/ 2553353/ 54
Factory 4 :	Vermardi Road, Village Navi Jihardi, Near Inox, Off. N. H. Road, Taluka-Karjan, Vadodara-391240, Gujarat, India
Tel. No.:	91-2666-232960/231635 / 231097
Fax No.:	91-2666-232961
E-Mail :	gks@cosmofilms.com
Factory 5 :	Plot No. 359-B, Baska Village, Taluka-Halol, Panchmahals, Gujarat, India
Tel. No.:	91-2676-247021/247128
Fax No.:	91-2676-247041
Factory 6 :	Mercuriusstraat 9, 6468 ES Kerkrade, The Netherlands
Tel. No.:	31 45 535 7676
Fax No.:	31 45 535 7878
Factory 7 :	560, Western Maryland Parkway, Hagerstown, Maryland 21740
Tel. No.:	+302-3287780
Fax No.:	+302-5311831
Factory 8 :	811, Sineon-RI, Dogo-Myeon, Asan-SI, Choongnam-336-914 South Korea
Tel. No.:	+82-41-531-1830
Fax No.:	+82-41-531-1831
Factory 9 :	303, 3^rd Floor, Gokul Arcade, A Wing, Opposite Hong Kong Bank, Subhash Raod, Vile Parle (East), Mumbai – 400057, Maharashtra, India
Tel. No.:	91-22-28261195/ 28261197/ 28266395
E-Mail :	Info.mum@cosmofiles.com
Factory 9 :	AL-24/1, MIDC-SEZ, Slendra Industrial Area, Aurangabad – 431201, Maharashtra, India
Tel. No.:	91-240-2622205/ 2622301
Branch Offices :	Located at: · Mumbai · Aurangabad · Vadodara
Overseas Offices :	Located at: · Illinois, America · Amsterdam, The Netherlands · Korea · Tokyo, Japan

DIRECTORS

As on 25.09.2014

Name :

Mr. Ashok Jaipuria

Designation :

Chairman and Managing Director

Qualification :

Degree in Associates of Arts in Business Administration & Diploma in Marketing Science

Date of Appointment :

02.04.2014

DIN No.:

00214707

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	L92114DL1976PLC008355	COSMO FILMS LIMITED	Managing director	02/04/2014	10/10/1976	-	Active	NO
2	L27106HP1985PLC006378	COSMO FERRITES LIMITED	Director	24/07/1985	24/07/1985	-	Active	NO
3	L51433WB1960PLC024539	HSIL LIMITED	Director	27/09/2014	24/07/2004	-	Active	NO

Name :

Mr. Anil Kumar Jain

Designation :

 Whole Time Director

Date of Birth :

18.03.1951

Date of Appointment :

01.10.2014

Qualification :

B.Com. (H), A.I.C.W.A., CISA

DIN No.:

00027911

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	L74899DL1954PLC002985	USHA INTERNATIONAL LIMITED	Director	29/09/97	29/09/97	-	Amalgamated	NO
2	U72200DL2002PTC115459	TRUSTED INFO SYSTEMS PRIVATE LIMITED	Director	21/05/02	21/05/02	-	Active	NO
3	U74210DL1935PLC007123	USHA INTERNATIONAL LIMITED	Director	29/09/08	23/06/08	-	Active	NO
4	L92114DL1976PLC008355	COSMO FILMS LIMITED	Whole-time director	01/10/14	24/05/11	-	Active	NO
5	L27106HP1985PLC006378	COSMO FERRITES LIMITED	Director	22/09/14	12/08/11	-	Active	NO

Name :

Mr. H K Agarwal

Designation :

Independent Director

Date of Birth :

11.10.1947

Date of Appointment :

25.09.2014

DIN No.:

00260592

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	L17124RJ1997PLC013498	JAGJANANI TEXTILES LIMITED	Director	24/12/97	24/12/97	28/07/08	Active	NO
2	L92114DL1976PLC008355	COSMO FILMS LIMITED	Director	25/09/14	13/01/00	-	Active	NO

Name :

Dr. Surinder Kapur

Designation :

Independent Director

Qualification :

Ph.D. in Mechanical Engineering

Name :

Mr. Rajeev Gupta

Designation :

Independent Director

Qualification :

B E and MBA

Name :

Mr. Badri Agarwal

Designation :

Director

Qualification :

Chartered Accountant

Name :

Mr. Suresh Rajpal

Designation :

Independent Director

Date of Birth :

17.08.1943

Date of Appointment ;

25.09.2014

Qualification :

BE (Electrical) MBA

DIN No.:

01595407

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	L72200AP1999PLC033131	PALRED TECHNOLOGIES LIMITED	Director	14/02/00	14/02/00	01/10/07	Active	NO
2	U72900DL2000PTC104761	ELECTRONICTENDER.COM (INDIA) PRIVATE LIMITED	Director	28/03/00	28/03/00	-	Active	NO
3	L72200DL1992PLC047931	VIRTUALSOFT SYSTEMS LIMITED	Director	13/08/01	13/08/01	-	Active	NO
4	U74920DL2005PTC140201	VISNOVA SOLUTIONS PRIVATE LIMITED	Director	31/08/05	31/08/05	-	Active	NO
5	U74899DL2000PTC103478	GISIL DESIGNS PRIVATE LIMITED	Director	26/09/05	26/09/05	-	Active	NO
6	U80904DL2007PTC166946	NIRVANA CORPORATE INSTITUTE PRIVATE LIMITED	Additional director	16/10/07	16/10/07	01/09/11	Active	NO
7	U72900DL2006PTC151698	INDE PAY NETWORKS PRIVATE LIMITED	Director	30/03/10	25/05/09	-	Active	NO
8	U51109DL2010PTC199626	NAVIS EXIM PRIVATE LIMITED	Director	02/03/10	02/03/10	30/03/12	Active	NO
9	L92114DL1976PLC008355	COSMO FILMS LIMITED	Director	25/09/14	28/05/10	-	Active	NO
10	U74900DL2010PTC208937	VISNOVA INTERACTIVE PRIVATE LIMITED	Director	30/09/10	30/09/10	-	Active	NO
11	U93000DL2010NPL211663	INDE LIVELIHOOD FOUNDATION	Director	21/12/10	21/12/10	-	Active	NO
12	U72900PN2012PTC143914	MOBIREL TECHNOLOGY SERVICES INDIA PRIVATE LIMITED	Director	03/07/12	03/07/12	-	Active	NO

Name :

R. Vasudevan

Designation :

Independent Director

Qualification :

B.A (Hons) Economics, M A (Economics and Statistics), MPA (Development Economics) Harvard University, USA

Date of Appointment :

25.09.2014

DIN No.:

00025334

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	L11100GJ1996PLC029880	HINDUSTAN OIL EXPLORATION COMPANY LIMITED	Director	26/09/14	11/06/97	08/10/14	Active	NO
2	U23209WB1985SGC039487	HALDIA PETROCHEMICALS LTD	Director	25/07/97	25/07/97	04/11/14	Active	NO
3	U03312DL1988PTC208639	SCHNEIDER ELECTRIC CONZERV INDIA PRIVATE LIMITED	Director	07/12/98	07/12/98	11/06/08	Amalgamated	NO
4	L34103WB1942PLC018967	HINDUSTAN MOTORS LTD	Nominee director	23/10/02	23/10/02	08/09/08	Active	NO
5	U31200UP1992PLC014506	NOIDA POWER COMPANY LIMITED	Director	30/06/03	30/06/03	01/02/07	Active	NO
6	U45202DL1991PLC046111	PUREARTH INFRASTRUCTURE LIMITED	Whole-time director	11/08/13	22/12/04	04/11/14	Active	NO
7	L92114DL1976PLC008355	COSMO FILMS LIMITED	Director	25/09/14	26/10/06	04/11/14	Active	NO
8	U62200KA2007PTC041691	TRANSINDIA AVIATION PRIVATE LIMITED	Director	10/02/07	10/02/07	-	Active	NO
9	L15421WB1975PLC030118	BALRAMPUR CHINI MILLS LTD	Director	07/08/14	25/11/09	04/11/14	Active	NO

Name :

Mr. Rama Kant Dwivedi

Designation :

Independent Director

Date of Appointment :

25.09.2014

DIN No.:

06922891

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	L92114DL1976PLC008355	COSMO FILMS LIMITED	Director	25/09/14	12/08/14	30/10/14	Active	NO
2	L27106HP1985PLC006378	COSMO FERRITES LIMITED	Additional director	04/11/14	04/11/14	-	Active	NO

Name :

Mr. Ashish Guha

Designation :

Independent Director

Date of Appointment :

25.09.2014

DIN No.:

00004364

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	L26942HR1958FLC042301	HEIDELBERGCEMENT INDIA LIMITED.	Managing director	23/08/11	23/08/06	30/06/14	Active	NO
2	U26940MH1996PLC102555	INDORAMA CEMENT LIMITED	Additional director	24/08/06	24/08/06	-	Amalgamated	NO
3	U26943HR2006FTC036445	HEIDELBERGCEMENT INDIA PRIVATE LIMITED	Director	09/11/06	09/11/06	-	Amalgamated	NO
4	U26941KL1992FLC006767	COCHIN CEMENTS LTD	Director	02/07/07	16/11/06	30/06/14	Active	NO
5	L21010MH1945PLC010337	BALLARPUR INDUSTRIES LIMITED	Director	19/12/14	29/07/08	-	Active	NO
6	U74899DL2000GOI107739	BHARAT SANCHAR NIGAM LIMITED	Director	21/05/10	21/05/10	21/05/13	Active	NO
7	L92114DL1976PLC008355	COSMO FILMS LIMITED	Director	25/09/14	12/08/14	-	Active	NO

Name :

Ms. Alpana Parida

Designation :

Director

Date of Appointment :

25.09.2014

DIN No.:

06796621

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	L92114DL1976PLC008355	COSMO FILMS LIMITED	Director	25/09/14	14/02/14	-	Active	NO
2	U74999MH1955PLC009593	S H KELKAR AND COMPANY Limited	Director	09/12/14	09/12/14	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Neeraj Jain
Designation :	Chief Financial Officer
Name :	Mr. Pankaj Poddar
Designation :	President
Name :	Mr. A G Deshpande
Designation :	Vice President – R and D and Business Development
Name :	Mr. Janardhan Gupta
Designation :	Vice President – Legal and Special Assignment
Name :	Mr. Tanuj Agarwal
Designation :	Vice President- International Operation
Name :	Mr. S.C. Maity
Designation :	General Manager – Manufacturing
Name :	Mr. A.K. Pathak
Designation :	General Manager – Manufacturing
Name :	Mr. N.R. More
Designation :	General Manager – Engineering
Name :	Mr. R.K. Gupta
Designation :	General Manager – Commercial
Name :	Mr. Sanjay Chincholikar
Designation :	General Manager – Global Head Packing Films
Name :	Mr. S. K. Dutta
Designation :	General Manager- Manufacturing
Name :	Mr. Rajeev Joshi
Designation :	Head – HR
Name :	Mr. Jagdip Kumar
Designation :	Assistant General Manager – Information Technology
Name :	Mr. Shailesh Verma
Designation :	General Manager - Global Head Specialty Films
Name :	Ms. Jyoti Dixit
Designation :	Company Secretary
Name :	Mr. Joshi
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2014

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	1138881	5.86
Bodies Corporate	7189558	36.98
Sub Total	8328439	42.84
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	8328439	42.84
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	185260	0.95
Financial Institutions / Banks	26265	0.14
Foreign Institutional Investors	4200	0.02
Sub Total	215725	1.11
(2) Non-Institutions
Bodies Corporate	1394736	7.17
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 million	5998167	30.85
Individual shareholders holding nominal share capital in excess of Rs.0.100 million	2192134	11.28
Any Others (Specify)	1310875	6.74
Non Resident Indians	1304299	6.71
Trusts	6576	0.03
Sub Total	10895912	56.05
Total Public shareholding (B)	11111637	57.16
Total (A)+(B)	19440076	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	19440076	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers Of Bi-Axially Oriented Polypropylene Films (BOPP)

Products :

Product Descriptions	ITC Code
Biaxially Oriented Polypropylene Film and Synthetic Paper	3920.99
Termal Lamination Machines	8477.59

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Not Available

Bankers :

· Landesbank Baden- Wurttemberg

· IDBI Bank Limited

· ICICI Bank Limited

· HSBC Bank Plc

· Export Import Bank of India

· Union Bank of India

· State Bank of India

· ING Vysya Bank Limited

· HDFC Bank Limited

· Yes Bank Limited

· Kotak Mahindra Bank Limited

· International Finance Corporation

· Development Bank of Singapore (DBS Limited)

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans Foreign currency loans (note a)	2405.800	2259.400
Rupee term loans (note b)	765.000	225.000
Vehicle loans (note c)	04.800	02.400
Short-term borrowings
Term loan from banks
Cash credits/ working capital demand loans (note a)	2077.500	2050.300
Overdraft (note b)	0.000	04.700
Total	5253.100	4541.800
Notes : Long Term Borrowings Foreign currency loans comprises of : (i) Loan of USD 10,000,000 taken from ICICI Bank during the financial year 2010-11 and carries interest @ Libor +400 bps per annum. The loan is repayable in 5 equal semiannual installments of USD 2,000,000 each after moratorium period of 3.5 years from the date of loan. (ii) Loan of USD 7,500,000 taken from HSBC PLC Bank during the financial year 2008-09 and carries interest @ Libor+150 bps per annum. The loan is repayable in 6 equal semiannual installments of USD 1,250,000 each after Moratorium period of 2.5 years from the date of loan. (iii) Loan of USD 13,272,220 taken from Landesbank Baden Wurttemberg Bank (LBBW) during the financial year 2008- 09 and 2009-10 and carries interest @ Libor+37.5 bps per annum. The loan is repayable in 16 equal semiannual installments of approx. USD 832,640 each after six month from the date of start of commercial production (iv) Loan of USD 5,000,000 taken from IFC Bank during the financial year 2011-12 and carries interest @ Libor+400 bps per annum. The loan is repayable in 15 equal semi-annual installments of USD 333,333 after moratorium period of 2.5 years from the date of loan (v) Loan of EURO 9,219,450 taken from Landesbank Baden Wurttemberg Bank (LBBW) during the financial year 2012-13 and carries interest @ Libor+105 bps per annum. The loan is repayable in 17 equal semiannual installments starting after six month from the date of start of commercial production. (vi) Loan of USD 7,000,000 taken from DBS Bank during the financial year 2012-13 and carries interest @ Libor+225 bps per annum. The loan is repayable in 8 semi-annual installments from April-2015. (The loan has been fully hedged into an equivalent Rupee loan with fixed rate of interest b) Rupee term loans comprises of : (i) Loan of Rs.108.675 Million taken from Kotak Mahindra Bank during the financial year 2011-12 and carries interest @ base rate+ 3.75% per annum. The loan is repayable in 78 equal monthly installments of Rs.1.393 Million along with interest from the date of loan (ii) Loan of Rs. 318.159 Million taken from IDBI Bank during the financial year 2008-09 and carries interest @ base rate+ 2.65% per annum. The loan is repayable in 10 equal semiannual installments of Rs. 31.816 Million along with interest from the date of loan. (iii) Loan of Rs. 300.000 Million taken from SBI during the financial year 2012-13 and carries interest @ base rate+ 2.25% per annum. The loan is repayable after a Moratorium of 12 month from the date of disbursement in 8 equal quarterly installments of Rs. 37.500 Million. c) Vehicle loans taken from Union Bank of India carries interest @10.5% -12% per annum. This loan is repayable in 3 years. d) Details of security for each type of borrowings:- (i) Foreign currency loan from ICICI Bank is secured by subservient charge on all of the Company’s moveable fixed assets, both present and future, save and except plant and machineries at Baska and Chikalthana and any assets charged exclusively to other lenders. (ii) Foreign currency loan from Landesbank Baden Wurttemberg Bank (LBBW) taken in financial year 2008-09 and financial year 2009-10 is secured against hypothecation of machinery financed out of the loan amount at the Company’s plant at Karjan, Vadodara. (iii) Foreign currency loan from HSBC PLC Bank is secured by first pari-passu charge over the entire fixed assets of the Company except assets exclusively charged to Landesbank Baden Wurttemberg Bank (LBBW). iv) Foreign currency loan from IFC Bank is secured by first ranking security interest over all present and future movable and immovable fixed assets except the excluded assets, ranking pari passu with the other lenders. (v) Foreign currency loan from Landesbank Baden Wurttemberg Bank (LBBW) taken in financial year 2012-13 is secured against hypothecation of machinery financed out of the loan amount at the Company’s new plant at Shendra, Aurangabad. (vi) Foreign currency loan from DBS Bank is secured by pari passu charge on the movable and immovable fixed assets both present and future of the Company, except the excluded assets. (vii) Rupee term loan from Kotak Mahindra Bank is secured against mortgage by way of exclusive charge on the immovable properties being commercial properties situated at 1004-1010, 10th floor, DLF Towers, Jasola, New Delhi. (viii) Rupee term loan from IDBI Bank is secured against pari-passu first charge on entire fixed assets of the Company by way of extension except assets exclusively charged to Landesbank Baden Wurttemberg (LBBW) (ix) Rupee term loan from SBI is secured against pari-passu charge with other term lenders on entire fixed assets of the Company, present and future including equitable mortgage of certain properties. (x) Vehicle loans from Union Bank of India are secured against hypothecation of vehicles financed out of the loan amount. e) Current maturities of long term borrowings are disclosed under the head other current liabilities. Short Term Borrowings a) Cash credits/ working capital demand loans/ export packing credits are secured/to be secured by hypothecation of inventories, trade receivable and second charge on fixed assets secured to financial institutions except assets exclusively charged. Cash credit and working capital demand loans from the bank comprises of the following: i) Cash credit/working capital demand loan of Rs. 300.000 Million sanctioned by Export Import Bank of India is repayable on demand and carries interest rate @ 11.5% per annum, Libor+4% and 11.75% per annum for PCFC INR, PCFC USD and working capital demand loan respectively. (ii) Cash credit/working capital demand loan of Rs.150.000 Million sanctioned by CITI Bank is repayable on demand and carries interest as mutually decided. (iii) Working capital demand of Rs. 200.000 Million sanctioned by HDFC Bank is repayable on demand and carries interest rate as mutually decided. (iv) Cash credit/working capital demand of Rs.150.000 Million sanctioned by ICICI Bank is repayable on demand and carries interest @ base rate+3.5% per annum. (v) Cash credit/working capital demand of Rs. 250.000 Million sanctioned by ING Vysya Bank is repayable on demand and carries interest @ base rate+2.55% per annum. (vi) Cash credit/working capital demand of Rs.550.000 Million sanctioned by Union Bank of India is repayable on demand and carries interest @ base rate+3% per annum. (vii) Cash credit/working capital demand of Rs.150.000 Million sanctioned by YES Bank of India is repayable on demand and carries interest @ base rate+2.5% per annum. (viii) Working capital demand loan of Rs.200.000 Million sanctioned by Kotak Mahindra Bank is repayable on demand and carries interest as mutually agreed. (ix) Cash credit/working capital demand of Rs.300.000 Million sanctioned by IDBI Bank is repayable on demand and carries interest @ base rate+2.5% per annum. (x) Cash credit of Rs. 500.000 Million sanctioned by State Bank of India is repayable on demand and carries interest @ base rate+2.5% per annum. (xi) Cash credit/working capital loan/export packing credit of Rs.200.000 Million sanctioned by DBS Bank is repayable on demand and carries interest as mutually agreed. b) Overdraft of Rs. 50.000 Million from HDFC Bank are secured against pledge of the fixed deposits of the Company is repayable on demand and carries interest rate as mutually decided. c) Short term Loans Rs. NIL (Previous year Rs.1000.100 Million) is taken from Tata Capital Financials Services Limited, has been paid in the current year and carries interest @ 12% per annum

Auditors :
Name :	M/s. Walker Chandiok and Company LLP Chartered Accountants
Address :	21^st Floor, DLF Square, Jacaranda Marg, DLF Phase II, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-4528000
Fax No.:	91-124-4528001
E-Mail :	gurgaon@in.gt.com
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	· CF Global Holdings Limited, Mauritius · Cosmo Films Inc., USA · CF (Netherlands) Holdings Limited BV., Netherlands · Cosmo Films (Singapore) Pte. Limited, Singapore · Cosmo Films Japan (GK) · Cosmo Films Korea Limited, Korea
Enterprises over which Key managerial personnel of the Company and their relatives have significant influence:	· Pravasi Enterprises Limited · Sunrise Manufacturing Company Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19440076	Equity Shares	Rs.10/- each	Rs.194.400 Millions

Notes:

(i) Of the above 242,051 (Previous year 242,051) shares have been allotted to erstwhile shareholders of Gujarat

Propack Limited on amalgamation.

(ii) Of the above 8,486,705 (Previous year 8,486,705) shares have been allotted as fully paid bonus shares by

Capitalisation of capital reserves and share premium account.

a) There is no movement in equity share capital during the current year and previous year.

b) Terms and rights attached to equity shares

The Company has only one class of equity shares having the par value of Rs. 10 per share. Each holder of equity

Share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees.

During the year ended 31 March 2014 the amount of per share dividend recognised as distributions to equity

Shareholders was Rs.1 (previous year Rs. 2.50 per share). The dividend proposed by Board of Directors is subject

To approval of shareholders in Annual General Meeting.

In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining

Assets of the Company, after payment of all liabilities. The distribution will be in proportion to the number of

Equity shares held by the shareholders.

c) Details of shareholders holding more than 5% shares in the Company

Name of Shareholder	Number of Shares	% holding
Sunrise Manufacturing Company Limited	3957552	20.36%
Pravasi Enterprises Limited	2,895,104	14.89%

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	194.400	194.400	194.400
(b) Reserves & Surplus	3405.400	3271.000	3,388.300
(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)	3599.800	3465.400	3582.700
(3) Non-Current Liabilities
(a) long-term borrowings	3175.600	2486.800	1,335.300
(b) Deferred tax liabilities (Net)	514.700	536.600	660.500
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.300	1.300	17.600
Total Non-current Liabilities (3)	3691.600	3024.700	2013.400
(4) Current Liabilities
(a) Short term borrowings	2077.500	2055.000	1,683.800
(b) Trade payables	1323.200	1040.800	580.300
(c) Other current liabilities	775.200	669.700	407.600
(d) Short-term provisions	40.300	63.000	121.100
Total Current Liabilities (4)	4216.200	3828.500	2792.800
TOTAL	11507.600	10318.600	8388.900
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6311.800	4328.800	3,659.200
(ii) Intangible Assets	57.900	65.500	71.500
(iii) Capital work-in-progress	15.800	1577.000	38.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	42.100	42.100	1,209.900
(c) Deferred tax assets (net)	0.000	0.000	000
(d) Long-term Loan and Advances	316.900	339.300	242.900
(e) Other Non-current assets	1.500	1.400	1.300
Total Non-Current Assets	6746.000	6354.100	5222.800
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2024.400	1513.300	967.100
(c) Trade receivables	1382.600	1287.800	1,049.900
(d) Cash and cash equivalents	599.700	340.700	389.600
(e) Short-term loans and advances	740.700	818.300	753.200
(f) Other current assets	14.200	4.400	6.300
Total Current Assets	4761.600	3964.500	3166.100
TOTAL	11507.600	10318.600	8388.900

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	14683.600	12656.200	9,230.50
	Other Income	67.700	80.000	11.700
	TOTAL (A)	14751.300	12736.200	9242.200
Less	EXPENSES
	Cost of Materials Consumed	10307.400	8213.800	6,140.200
	Purchases of Stock-in-Trade	53.900	48.200	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(335.000)	48.900	(218.400)
	Employees benefits expense	979.300	903.400	528.100
	Exceptional items	286.800	172.200	(69.000)
	Other expenses	2591.500	2454.800	1,782.000
	TOTAL (B)	13883.900	11841.300	8162.900
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	867.400	894.900	1079.300
Less	FINANCIAL EXPENSES (D)	432.200	290.100	225.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	435.200	604.800	854.300
Less/ Add	DEPRECIATION/ AMORTISATION (F)	453.200	388.100	301.500
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(18.0000	216.700	552.800
Less	TAX (I)	37.000	103.400	97.100
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	(55.000)	113.300	455.700
	Earnings / (Loss) Per Share (Rs.)	(2.83)	5.83	23.44

QUARTERLY RESULTS

Particulars (Rs.Cr)	Jun 2014	Sep 2014	Dec 2014
Audited / UnAudited	1^st Quarter UnAudited	2^nd Quarter UnAudited	3^rd Quarter UnAudited
Net Sales	3996.500	4013.000	3291.300
Total Expenditure	3719.200	3713.700	3088.200
PBIDT (Excl OI)	277.300	299.300	203.100
Other Income	14.200	02.700	06.000
Operating Profit	291.500	302.000	209.100
Interest	95.200	92.100	92.100
Exceptional Items	(13.400)	(40.300)	(39.500)
PBDT	182.900	169.600	77.500
Depreciation	78.900	74.500	74.100
Profit Before Tax	104.000	95.100	03.400
Tax	34.500	40.100	(93.400)
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	69.500	55.000	96.800
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	69.500	55.000	96.800

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(0.37)	0.90	4.94
Operating Profit Margin (PBIDT/Sales)	(%)	5.91	7.07	11.69
Return on Total Assets (PBT/Total Assets}	(%)	(0.16)	2.49	7.74
Return on Investment (ROI) (PBT/Networth)		(0.01)	0.06	0.15
Debt Equity Ratio (Total Debt /Networth)		1.46	1.31	0.84
Current Ratio (Current Asset/Current Liability)		1.13	1.04	1.13

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	194.400	194.400	194.400
Reserves & Surplus	3388.300	3271.000	3405.400
Net worth	3582.700	3465.400	3599.800
long-term borrowings	1335.300	2486.800	3175.600
Short term borrowings	1683.800	2055.000	2077.500
Total borrowings	3019.100	4541.800	5253.100
Debt/Equity ratio	0.843	1.311	1.459

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	9230.500	12656.200	14683.600
		37.113	16.019

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	9230.500	12656.200	14683.600
Profit/ (Loss)	455.700	113.300	(55.000)
	4.94%	0.90%	(0.37%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
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	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
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]	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

LITIGATION DETAILS

IN THE HIGH COURT OF DELHI AT NEW DELHI

ITA 184/2012

 ITA 187/2012

ITA 185/2012

ITA 186/2012

ITA 188/2012

ITA 190/2012

COMMISSIONER OF INCOME TAX.... Appellant

Through: Mr. n. p. Sahil, Sr. Standing Counsel

versus

COSMO FILMS LTD..... Respondent

Through: Mr. Deepak Chopra, Sr. Standing Counsel.

CORAM:

 HON'BLE MR. JUSTICE SANJIV KHANNA

 HON'BLE MR. JUSTICE R.V. EASWAR

ORDER

12.03.2012

To be listed before another Bench of which one of us (R. V. Easwar, J.) is not a member, Subject to order of Hon? ble the Acting Chief Justice.

Notes:

MANAGEMENT DISCUSSION & ANALYSIS REPORT

Cosmo Films, being a professionally managed Public Limited Company has a strong presence in flexible packaging films. In speciality films segment beside thermal films, wet lamination, synthetic paper, high barrier films, coated films are key products .Cosmo is the largest producer of thermal lamination films in the world. In commodity, Cosmo manufactures tape and textile films as well as packaging films. Within the packaging segment, company manufactures films such as heat sealable, plain, metallized, opaque films as well as speciality films such as stable slip film, low SIT films, high hot tack films, low COF films and extrusion coat able metallized films. In labels Cosmo has almost a complete range of films for wrap-around, in-mould and self-adhesive applications in transparent, metallized and opaque which can work with almost all kinds of printing inks.

With the commissioning of Company’s new plant at Shendra SEZ, Aurangabad Company has grown exponentially.

ECONOMIC OVERVIEW & INDUSTRY SCENARIO

India-one of the fastest growing economies of the world, is all set to attain the premier status. India is a favoured destination for overseas investors and offers the advantages of an open economy, increasing liberalization, a stable democratic political scenario, highly skilled work force with fluency in English. Various overseas players wish to explore the Indian market and invest in opportunities thrown open by the country, projected to be world number 3 in plastic consumption. This seems a very achievable position as since the past decade, the Indian plastic industry continues to grow at double digit figures.

The historical growth of the plastic industry over the last few decades is at an impressive 12-14% which is almost twice the GDP growth. The major driver of this growth is the increased standard of living of people in India (housing the second largest population in the world)

Demand for packaged foods, and the subsequent need for BOPP film packaging, has weathered the recession relatively well, facilitating world BOPP film demand growth of an average 6.1% per annum over the last five years, to reach over 6.7 million tonnes (291 BOPP producers in the world) in 2012.

Independent research forecasts indicate world demand for BOPP films will continue to grow by an average of 6.6% per annum to reach 8.3 million tonnes by 2016. Growth in Asian demand is expected to account for a vast majority of the predicted world growth over the next five years.

OPERATIONAL & FINANCIAL PERFORMANCE:

During the year, turnover of the Company registered a growth of around 16.60% Y-o-Y with Net Sales of Rs. 14565.000 Million as against Rs. 12485.000 Million in FY’13. (Consolidated No’s) On Standalone basis the turnover increased by around 21.52%—Rs.12501400 Million in FY 2013-14 as compared to Rs.10287.600 Million in FY 2012-13.The other details of the financial performance are appearing in the financial statements appearing separately in the financial statements.

FUTURE OUTLOOK

The vision of COSMO FILMS is to become the most preferred brand for packaging and laminating solutions globally. Its mission is to seek global market leadership, development & growth in Oriented and Thermal films, create a winning culture operating in highest standards of ethics and values and to strive for excellence in customer service, quality and R&D.

STATEMENT ON SIGNIFICANT ACCOUNTING POLICES

Background and nature of operations

Cosmo Films Limited (the ‘Company’), manufacturers of Bi-axially Oriented Polypropylene Films (BOPP) was incorporated in India in 1981, under the Companies Act 1956. The Company is engaged in the production of packaging films. Company’s product majorly comprises of BOPP Films and Thermal Films. In India, the Company is currently working at Aurangabad in Maharashtra and at Karjan in Gujarat. It also has its subsidiaries working in different countries.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10490231	18/11/2014 *	6,887,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	Asian Building, Ground Floor, 17, R Kamani Marg,  Ballard Estate, Mumbai, - 400001 Maharashtra, INDIA	C43658855
2	10451915	16/09/2013	300,000,000.00	IDBI Bank Limited	IDBI Bank Limited, 3rd Floor Red Cross Building,  1 Red Cross Road, New Delhi, Delhi - 110001, INDIA	B86125994
3	10425265	20/06/2013 *	600,400,000.00	INTERNATIONAL FINANCE CORPORATION	VIBGYOR TOWERS, 6TH FLOOR, G - BLOCK, C - 62, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI,- 400051 Maharashtra , INDIA	B78970860
4	10351543	05/04/2012	554,000.00	UNION BANK OF INDIA	11 KRUPA BUILDING, NEAR PATHAN GATE, AURANGABAD,  Maharashtra - 431005, INDIA	B38148268
5	10351562	05/04/2012	555,000.00	UNION BANK OF INDIA	11 KRUPA BUILDING, NEAR PATHAN GATE, AURANGABAD,  Maharashtra - 431005, INDIA	B38148011
6	10328207	29/12/2011	560,000.00	UNION BANK OF INDIA	11 KRUPA BUILDING, NEAR PATHAN GATE, AURANGABAD,  Maharashtra - 431005, INDIA	B29492535
7	10328209	29/12/2011	586,000.00	UNION BANK OF INDIA	11 KRUPA BUILDING, NEAR PATHAN GATE, AURANGABAD,  Maharashtra - 431005, INDIA	B29493137
8	10328205	15/12/2011	715,000.00	UNION BANK OF INDIA	11 KRUPA BUILDING, NEAR PATHAN GATE, AURANGABAD,  Maharashtra - 431005, INDIA	B29491859
9	10311334	29/09/2011	600,000.00	UNION BANK OF INDIA	11 KRUPA BUILDING, NEAR PATHAN GATE, AURANGABAD,  Maharashtra - 431005, INDIA	B22998041
10	10311342	27/09/2011	670,000.00	UNION BANK OF INDIA	KRUPA BUILDING, NEAR PAITHAN GATE,AURANGABAD, Maharashtra - 431005, INDIA	B23000052

* Date of charge modification

FIXED ASSETS

Tangible Assets

• Buildings
• Plant and machinery (Including computers)
• Furniture and fixtures
• Vehicles
• Vehicles

Intangible Assets

• software

UNAUDITED STANDLONE FINANCIAL RESULTS

(Rs. In Million)

Particulars	3 Months Ended		9 Months Ended
	31.12.2014	30.09.2014	31.12.2014
	Unaudited	Unaudited	Unaudited
PART-I STATEMENT OF FINANCIAL RESULTS
1. Income from operations
a) Net sales/ Income from operations (Including export benefit)	3276.700	3996.900	11255.600
b) Other operating income (net)	14.600	16.100	45.200
c) Total	3291.300	4013.000	11300.800
2.Expenditure
a) Decrease/(Increase) in stock	51.300	(35.300)	195.600
a) Cost of material consumed	2335.100	2896.800	1996.100
b) Purchases of stock in trade	-	-	-
c) Power, water and fuel	232.400	260.800	739.300
d) Employees benefit expenses	158.800	175.800	227.400
e) Depreciation and amortization expenses	74.100	74.500	227.400
f) Other expenditure	310.600	419.600	1093.100
Total expenses	3162.300	3788.200	10748.600
3. Profit from operations before other income, interest and Exceptional items (1-2)	129.000	224.800	552.200
4. Other income	06.000	02.700	22.800
5. Profit before interest and Exceptional items (3+4)	135.000	227.500	575.000
6. Finance costs	92.100	92.100	279.400
7. profit after finance costs but before exceptional items (5-6)	42.900	135.400	295.600
8. Exceptional item	(39.500)	(40.300)	(93.100)
9. Profit/(Loss) from ordinary activities before tax (7+8)	03.400	95.100	202.500
10.Tax expenses/ (Credit)
a. Current Tax	(04.400)	40.100	70.100
b. Earlier Year	(89.000)	-	-
11.Net Profit / (Loss) from ordinary activities after tax (9-10)	96.800	55.000	221.400
12.Extraordinary Items (net of tax expense)	-	-	-
13.Net Profit / (Loss) for the period (11 -12)	96.800	55.000	221.400
14.Paid-up equity share capital (Nominal value Rs.10/- per share)	194.400	194.400	194.400
15. Reserve excluding Revaluation Reserves	-	-	-
(a) Basic and diluted EPS for the period (Rs.)
Excluding extraordinary items	49.800	28.300	113.900
Including extraordinary item	49.800	28.300	113.900
PART-II SELECT INFORMATION QUARTER ENDED 31^ST DECEMBER 2014
A. Particulars of shareholding
1. Public Shareholding
- Number of shares	11111637	11111637	11111637
- Percentage of shareholding	57%	57%	57%
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	Nil	Nil	Nil
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	Nil	Nil	Nil
Percentage of shares (as a % of total share capital of the company)	Nil	Nil	Nil
b) Non Encumbered
Number of shares	8328439	8328439	8328439
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	100%	100%	100%
Percentage of shares (as a % of total share capital of the company)	43%	43%	43%
B. Investor Complaints	Quarter ended 31.12.2014
Pending at the beginning of the quarter	Nil
Receiving during the quarter	10
Disposed of during the quarter	10
Remaining unreserved at the end of the quarter	Nil

REPORTING OF SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Million)

Particulars	3 Months Ended		9 Months Ended
	31.12.2014	30.09.2014	31.12.2014
	Unaudited	Unaudited	Unaudited
Segment Revenue
Packing Films	3275.700	3996.900	11256.800
Others	-	-	-
Sub Total	3275.700	3996.900	11256.800
Less: Inter Segment Revenue	-	-	-
Total	3275.700	3996.900	11256.800
Segment Results
Profit / (Loss) before tax and interest
Packing Films	100.800	198.600	507.600
Others	-	-	-
Sub Total	100.800	198.600	507.600
Less: Finance Cost	92.100	92.100	279.400
Less: Unallocable expenses net of Unallocable income	05.300	11.400	25.900
Profit from ordinary activity before tax	03.400	95.100	202.500
Capital Employed
Packing Films	7873.700	7903.700	7873.700
Others	-	-	-
Unallocated	1933.100	1988.300	1933.100
Total	9806.800	9892.000	9806.800

Notes:

1. The above unaudited financial results were reviewed by the Audit Committee and approved by the Board of

Director on 13^th February 2015 and limited review of the same has been carried out by the

Statutory Auditors of the company.

2. Exceptional item during the quarter includes:

Particulars	3 Months Ended		9 Months Ended
	31.12.2014	30.09.2014	31.12.2014
	Unaudited	Unaudited	Unaudited
Profit/(Loss) on exchange rate fluctuations*	(39.500)	(40.300)	(93.100)

• Due to significant volatility in foreign currency exchange rates, the company has considered profit/ (Loss) on foreign exchange fluctuation as an exceptional item.

3. Figures for the previous periods / year have been regrouped wherever required.

New Delhi

13^th February 2015

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.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	GAT
Analysis Done by :	KAR
Report Prepared by :	GTA

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
--PROFITABILITY	1~10	3
--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	YES
--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	YES
--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 unfavorable 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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.