MIRA INFORM REPORT

Report No. :	315563
Report Date :	02.04.2015

IDENTIFICATION DETAILS

Name :	ADVANCED MICRO DEVICES PRIVATE LIMITED

Registered Office :	879 Arya Nagar, Ambala Cantonment - 133001, Haryana

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	06.06.1978

Com. Reg. No.:	05-009051

Capital Investment / Paid-up Capital :	Rs. 0.444 Million

CIN No.: [Company Identification No.]	U74909HR1978PTC009051

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Exporter and manufacturer of Medical / Diagnostic Devices.

No. of Employees :	120 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 8400000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is an established company having good track record. Financial position of the company is sound. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitment. 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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

EXTERNAL AGENCY RATING

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 PARTED BY

Name :	Mr. Jai Dev
Designation :	Director
Contact No.:	91-9850240010
Date :	02.01.2015

LOCATIONS

Registered Office :	879 Arya Nagar, Ambala Cantonment - 133001, Haryana, India
Tel. No.:	91-171-2699290
Fax No.:	91-171-2699221 / 008
E-Mail :	jpjnco@hotmail.com mdi@vsnl.com accounts@mdimembrane.com
Website :	http://www.corporatedir.com
Located :	Owned

Head Office / Corporate Office / Branch Office :	20-21 Industrial Area, Ambala Cantonment - 133006, Haryana, India
Tel. No.:	91-171-2699290/2699471/2699274
Fax No.:	91-171-2699221/2699008
E-Mail :	mdi@vsnl.com

Branch Office:	Located At: Ahmedabad Bangalore Mumbai Hyderabad

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sharat Chander Gupta

Designation :

Director

Address :

879, Arya Nagar, Jagadhri Road, Ambala Cantt, Ambala – 133001, Haryana, India

Date of Birth/Age :

24.12.1959

Date of Appointment :

06.06.1978

DIN No.:

00258690

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	U74909HR1978PTC009051	ADVANCED MICRO DEVICES PVT LTD	Director	06/06/1978	06/06/1978	-	Active	NO
2	U29219CH2000PTC023736	PRECISION MEMBRANES PRIVATE LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
3	U52100HR2013PTC049062	Orbit Green-Tec Private Limited	Director	07/05/2013	07/05/2013	-	Active	NO

Name :

Mr. Jai Dev

Designation :

Whole Time Director

Address :

879, Arya Nagar, Ambala Cantt, Ambala – 133001, Haryana, India

Date of Birth/Age :

01.04.1926

Date of Appointment :

06.06.1978

DIN No.:

00484395

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	U74999HR1960PTC002321	LAKSHMI UDYOG MANDIR PVT LTD	Whole-time director	30/05/1960	30/05/1960	-	Active	NO
2	U74909HR1978PTC009051	ADVANCED MICRO DEVICES PVT LTD	Whole-time director	06/06/1978	06/06/1978	-	Active	NO

Name :

Mr. Rajni Kant

Designation :

Director

Address :

879, Arya Nagar, Ambala Cantt, Ambala – 133001, Haryana, India

Date of Birth/Age :

20.05.1951

Date of Appointment :

01.10.2005

DIN No.:

00484605

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	U74909HR1978PTC009051	ADVANCED MICRO DEVICES PRIVATE LIMITED	Director	06/06/1978	06/06/1978	-	Active	NO
2	U24231HR1996PTC033030	ADVVNCED SENSOR SYSTEMS PRIVATE LIMITED	Director	20/03/1996	20/03/1996	-	Active	NO
3	U29219CH2000PTC023736	PRECISION MEMBRANES PRIVATE LIMITED	Director	29/05/2001	29/05/2001	-	Active	NO
4	U52100HR2013PTC049062	Orbit Green-Tec Private Limited	Director	07/05/2013	07/05/2013	-	Active	NO

Name :

Mr. Nalini Kant Gupta

Designation :

Managing Director

Address :

879, Arya Nagar, Ambala Cantt, Ambala – 133001, Haryana, India

Date of Birth/Age :

21.12.1949

Date of Appointment :

01.05.1998

DIN No.:

00484630

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	U31909UP1963PTC002960	GARG ASSOCIATES PRIVATE LIMITED	Director	26/02/1991	26/02/1991	-	Active	NO
2	U24231HR1996PTC033030	ADVVNCED SENSOR SYSTEMS PRIVATE LIMITED	Managing director	20/03/1996	20/03/1996	-	Active	NO
3	U74909HR1978PTC009051	ADVANCED MICRO DEVICES PRIVATE LIMITED	Managing director	01/05/1998	01/05/1998	-	Active	NO
4	U29219CH2000PTC023736	PRECISION MEMBRANES PRIVATE LIMITED	Managing director	29/05/2000	29/05/2000	-	Active	NO
5	U74999HR1960PTC002321	LAKSHMI UDYOG MANDIR PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO

Name :

Ms. Sukhda Devi

Designation :

Director

Address :

879, Arya Nagar, Jagadhri Road, Ambala Cantt, Ambala – 133001, Haryana, India

Date of Birth/Age :

10.04.1938

Date of Appointment :

06.06.1978

DIN No.:

00484672

Name :

Mr. Somdev Gupta

Designation :

Director

Address :

39, Goubert Padasalal Street, Vazhalkulam, Pondicherry – 605001, Pondicherry, India

Date of Birth/Age :

06.12.1941

Date of Appointment :

06.06.1978

DIN No.:

00990217

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	U74909HR1978PTC009051	ADVANCED MICRO DEVICES PRIVATE LIMITED	Director	06/06/1978	06/06/1978	-	Active	NO
2	U74999HR1960PTC002321	LAKSHMI UDYOG MANDIR PRIVATE LIMITED	Director	25/08/1988	25/08/1988	-	Active	NO

Name :

Ms. Sarla Devi

Designation :

Director

Address :

39, Goubert Padasalal Street, Vazhalkulam, Pondicherry – 605001, India

Date of Birth/Age :

18.12.1947

Date of Appointment :

06.06.1978

DIN No.:

00990301

Name :

Mr. Ashawant Gupta

Designation :

Director

Address :

879, Arya Nagar, Jagadhri Road, Ambala Cantt, Ambala – 133001, Haryana, India

Date of Birth/Age :

04.01.1967

Date of Appointment :

01.04.1997

DIN No. :

01260329

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	U24231HR1996PTC033030	ADVVNCED SENSOR SYSTEMS PRIVATE LIMITED	Director	20/03/1996	20/03/1996	-	Active	NO
2	U74909HR1978PTC009051	ADVANCED MICRO DEVICES PVT LTD	Director	01/04/1997	01/04/1997	-	Active	NO
3	U29219CH2000PTC023736	PRECISION MEMBRANES PRIVATE LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
4	U74999HR1960PTC002321	LAKSHMI UDYOG MANDIR PRIVATE LIMITED	Director	29/09/2012	01/04/2012	-	Active	NO
5	U52100HR2013PTC049062	Orbit Green-Tec Private Limited	Director	07/05/2013	07/05/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Dev Jai	750	16.89
Chandra Sharat	270	6.08
Dev Som	270	6.08
Devi Sarla	300	6.76
Devi Sukhda	600	13.51
Kant Nalini	1890	42.57
Ashawant	350	7.88
Kant Ranji	10	0.23
Total	4440	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Exporter and manufacturer of Medical / Diagnostic Devices.

Products :	Medical / Diagnostic Devices

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Medical and Diagnostic Devices
Countries :	USA UK Gulf Countries Asian Countries European Countries

Imports :	Not Available

Terms :
Selling :	Cash and Credit

Purchasing :	Cash and Credit

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Manufacturing

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

No. of Employees :

120 (Approximately)

Bankers :

Banker Name	HDFC Bank
Branch Address	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

State Bank of India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
HDFC OD	32.062	14.507
SBI OD	0.000	75.361
SBI OD	123.789	45.496
Total	155.851	135.364

Notes:

HDFC OD facility Is against the pledge of FDR of the company with HDFC

SBI OD facility is against the pledge of FDR of the company with SBI


Auditors :
Name :	Gandhi Minocha and Company Chartered Accountant
Address :	1-A, Tribune Colony, Ambala Cantt – 133001, Haryana, India
Tel. No.:	91-171-2652642/2652643/2652747
E-Mail :	gandhica@yahoo.com
PAN No.:	AGYPS9266N

Memberships :	Not Available

Collaborators :	Not Available

Subsidiary :	Lakshmi Udyog Mandir Private Limited

Other Related Parties	Advanced Sensor Private Limited Precision Membrane Private Limited Micro Instruments Company

CAPITAL STRUCTURE

As on 30.06.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5000	Equity Shares	Rs.100/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

4440	Equity Shares	Rs.100/- each	Rs. 0.444 Million

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	0.444	0.444	0.444
(b) Reserves & Surplus	2947.923	2412.266	2001.005
(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)	2948.367	2412.710	2001.449

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	7.094	6.655	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	33.423	0.772	6.023
Total Non-current Liabilities (3)	40.517	7.427	6.023

(4) Current Liabilities
(a) Short term borrowings	155.851	135.364	0.000
(b) Trade payables	3.163	(4.786)	(20.244)
(c) Other current liabilities	15.857	27.074	44.477
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	174.871	157.652	24.233

TOTAL	3163.755	2577.789	2031.705

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	222.239	190.139	151.256
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	33.494
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	382.426	264.831	233.963
(c) Deferred tax assets (net)	0.000	0.000	6.021
(d) Long-term Loan and Advances	75.007	93.623	69.352
(e) Other Non-current assets	8.431	8.220	8.220
Total Non-Current Assets	688.103	556.813	502.306

(2) Current assets
(a) Current investments	0.000	0.000	15.000
(b) Inventories	14.947	23.038	20.479
(c) Trade receivables	160.038	187.213	185.060
(d) Cash and cash equivalents	2006.733	1562.504	1169.388
(e) Short-term loans and advances	1.587	1.819	1.148
(f) Other current assets	292.347	246.402	138.324
Total Current Assets	2475.652	2020.976	1529.399

TOTAL	3163.755	2577.789	2031.705

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	848.263	739.841	713.891
	Other Income	308.563	220.061	137.058
	TOTAL	1156.826	959.902	850.949

Less	TOTAL EXPENSES	342.152	335.848	252.085

	PROFIT/ (LOSS) BEFORE TAX	814.674	624.054	598.864

Less	TAX	279.017	212.793	190.620

	PROFIT/ (LOSS) AFTER TAX	535.657	411.261	408.244

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	485.395	393.335	397.966
	Royalty, Know How, Professional And Consultation Fees	5.216	4.968	3.883
	TOTAL EARNINGS	490.611	398.303	401.849

	Earnings / (Loss) Per Share (Rs.)	120643.47	92626.35	91946.85

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

The above information has been parted by Mr. Jai dev

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	63.15	55.59	57.19

Return on Total Assets (PBT/Total Assets}	(%)	29.29	26.98	34.06

Return on Investment (ROI) (PBT/Networth)		0.28	0.26	0.30

Debt Equity Ratio (Total Debt/Networth)		0.06	0.06	0.00

Current Ratio (Current Asset/Current Liability)

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	0.444	0.444	0.444
Reserves & Surplus	2001.005	2412.266	2947.923
Net worth	2001.449	2412.710	2948.367

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	135.364	155.851
Total borrowings	0.000	135.364	155.851
Debt/Equity ratio	0.000	0.056	0.053

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	713.891	739.841	848.263
		3.635	14.655

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	713.891	739.841	848.263
Profit	408.244	411.261	535.657
	57.19%	55.59%	63.15%

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 three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

OPERATIONS:

During the year sales profits of the Company made progress. Going by the results available, the Management is optimistic that the Company is likely to do well during the current year despite tough competition from its rivals.

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10552333	07/02/2015	3,716,000.00	BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL	MTNL Building, 1st Floor, 9 CGO Complex, Lodi Road, New Delhi, Delhi - 110003, INDIA	C45191905

* Date of charge modification

FIXED ASSETS

· Land

· Building

· New building

· Bangalore Office/Flat

· Plant and machinery

· Fan

· Air compressor

· Generator

· Fax

· Furniture

· Scooter

· Computer

· Cooler

· Pager

· EPABX

· Refrigerator

· Mobile Phone

· Electrical equipment

· Air Conditioner

· Typewriter

· Vehicle

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 :	SNJ

Analysis Done by :	DIV

Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		64

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

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