MIRA INFORM REPORT

Report No. :	316142
Report Date :	07.04.2015

IDENTIFICATION DETAILS

Name :	SAHNEY KIRKWOOD PRIVATE LIMITED
Registered Office :	27, Kirol, Vidya Vihar (West), Mumbai – 400 086, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.06.1966
Com. Reg. No.:	11-013516
Capital Investment / Paid-up Capital :	Rs.9.600 million
CIN No.: [Company Identification No.]	U32109MH1966PTC013516
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 :	Manufacturer of Rigid Mica Insulation for the Traction and Industrial Motors.
No. of Employees :	140 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1095000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Management of the company has reported good profitability during the financial year 2013-14. The company possesses decent networth, average liquidity position. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered 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	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

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 (GENERAL DETAILS)

Name :	Mr. Bhaviskar
Designation :	Account Officer
Contact No.:	91-253-6611634
Date :	06.04.2015

LOCATIONS

Registered Office :	27, Kirol, Vidya Vihar (West), Mumbai – 400 086, Maharashtra, India
Tel. No.:	91-22-65751750-53
Fax No.:	91-22-25106092/ 67031188
E-Mail :	insulation@sahney.com commutators@sahney.com sales@sahney.com
Website :	http://www.sahney.com
Factory :	E-81, MIDC Area, Ambad, Nasik – 422 010, Maharashtra, India
Tel. No.:	91-253-2382345/ 6611634
Fax No.:	91-253-2382574/ 6611604
E-Mail :	commutators@sahney.com

DIRECTORS

AS ON 29.09.2014

Name :

Mr. Jasjiv Singh Devinder Singh Sahney

Designation :

Director

Address :

No.27, Viviani Road, Richards Town, Bangalore – 560 005, Karnataka, India

Date of Birth/Age :

02.01.1965

Date of Appointment :

15.02.1995

DIN No.:

00022886

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	U52190KA1987PTC008214	SAHNEY COMMUTATORS PRIVATE LIMITED	Director	18/02/1994	18/02/1994	-	Active	NO
2	U32109MH1966PTC013516	SAHNEY KIRKWOOD PRIVATE LIMITED	Director	15/02/1995	15/02/1995	-	Active	NO
3	U34103GA1997PLC002686	SAN MOTORS LIMITED	Director	27/09/1999	27/09/1999	-	Active	NO
4	U24110MH1982PTC026499	ISOVOLTA (INDIA) PRIVATE LIMITED	Director	01/04/2000	01/04/2000	-	Active	NO
5	U93090KA2001NPL028969	YPO BANGALORE CHAPTER	Director	02/05/2001	02/05/2001	20/09/2009	Active	NO
6	U74140MH2001PTC133168	MEDUSIND SOLUTIONS INDIA PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Active	NO
7	U70109MH2006PTC161405	ROCKSTONE REAL ESTATE MANAGEMENT PRIVATE LIMITED	Director	11/12/2006	11/12/2006	-	Active	NO
8	U74900MH1978PTC020600	KANWALDEEP SAHNEY ADVISORY PRIVATE LIMITED	Director	03/07/2007	03/07/2007	-	Converted to LLP and dissolved	NO
9	U74900KA2013PTC068595	SF SLEEVINGS PRIVATE LIMITED	Director	17/04/2013	17/04/2013	-	Active	NO
10	U74210KA1973PLC002424	SAN ENGINEERING AND LOCOMOTIVE COMPANY LIMITED	Director	28/08/2014	06/08/2013	-	Active	NO
11	AAA-5138	RAJIV SAHNEY ADVISORY LLP	Designated Partner	10/06/2011	10/06/2011	-	Active	NO
12	AAA-5140	KANWALDEEP SAHNEY ADVISORY LLP	Designated Partner	10/06/2011	10/06/2011	-	Active	NO
13	AAA-7334	MINICON INSULATED WIRES LLP	Designated Partner	19/12/2011	19/12/2011	-	Active	NO

Name :

Mr. Harish Ishwarlal Khanna

Designation :

Director

Address :

Archit Retreat, No.6, Date Nagar Tower Gangapur Road, Nashik – 422 005, Maharashtra, India

Date of Birth/Age :

11.12.1954

Date of Appointment :

20.01.2012

DIN No.:

05191417

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	U24110MH1982PTC026499	ISOVOLTA (INDIA) PRIVATE LIMITED	Director	20/01/2012	20/01/2012	-	Active	NO
2	U32109MH1966PTC013516	SAHNEY KIRKWOOD PRIVATE LIMITED	Director	20/01/2012	20/01/2012	-	Active	NO
3	U74900KA2013PTC068595	SF SLEEVINGS PRIVATE LIMITED	Director	17/04/2013	17/04/2013	-	Active	NO

Name :

Mrs. Kanwaldeep Kaur Sahney

Designation :

Director

Address :

No.50, Ushakiran, Carmichael Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

22.02.1944

Date of Appointment :

24.07.1985

DIN No.:

00405996

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	U74900MH1982PTC026209	RAJIV SAHNEY ADVISORY PRIVATE LIMITED	Director	23/01/1982	23/01/1982	-	Converted to LLP and dissolved	NO
2	U32109MH1966PTC013516	SAHNEY KIRKWOOD PRIVATE LIMITED	Director	24/07/1985	24/07/1985	-	Active	NO
3	U52190KA1987PTC008214	SAHNEY COMMUTATORS PRIVATE LIMITED	Director	02/03/1987	02/03/1987	-	Active	NO
4	AAA-7334	MINICON INSULATED WIRES LLP	Designated Partner	12/06/2014	12/06/2014	-	Active	NO

Name :

Mr. Devinder Singh Sahney

Designation :

Director

Address :

No.50, Ushakiran, Carmichael Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

04.09.1938

Date of Appointment :

30.08.1966

DIN No.:

00420281

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	U32109MH1966PTC013516	SAHNEY KIRKWOOD PRIVATE LIMITED	Director	30/08/1966	30/08/1966	-	Active	NO
2	U24110MH1982PTC026499	ISOVOLTA (INDIA) PRIVATE LIMITED	Director	27/02/1982	27/02/1982	31/01/2008	Active	NO
3	U74900MH1982PTC026209	RAJIV SAHNEY ADVISORY PRIVATE LIMITED	Director	01/07/1992	01/07/1992	-	Converted to LLP and dissolved	NO
4	U74900MH1978PTC020600	KANWALDEEP SAHNEY ADVISORY PRIVATE LIMITED	Director	01/07/1992	01/07/1992	-	Converted to LLP and dissolved	NO

Name :

Mr. Balwant Singh Chauhan

Designation :

Director

Address :

Flat No.602, 6^th Floor, C-Wing, Nandanv, Azad Nagar, Thane, Mumbai – 400 607, Maharashtra, India

Date of Birth/Age :

25.02.1949

Date of Appointment :

20.07.2010

DIN No.:

01158256

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	U70109MH2006PTC161405	ROCKSTONE REAL ESTATE MANAGEMENT PRIVATE LIMITED	Director	11/12/2006	11/12/2006	-	Active	NO
2	U32109MH1966PTC013516	SAHNEY KIRKWOOD PRIVATE LIMITED	Director	20/07/2010	20/07/2010	-	Active	NO
3	U70102MH2011PTC219551	RAE REAL ESTATE PRIVATE LIMITED	Director	28/09/2012	04/06/2012	-	Active	NO
4	U70102MH2011PTC225340	MRARA REAL ESTATE PRIVATE LIMITED	Director	28/09/2012	04/06/2012	-	Active	NO
5	U70102MH2012PTC233245	NV TECH SPACES PRIVATE LIMITED	Director	06/09/2013	01/08/2012	-	Active	NO
6	U70102MH2012PTC233501	NV KHARADI PROJECTS PRIVATE LIMITED	Director	06/09/2013	01/08/2012	-	Active	NO
7	U70102MH2012PTC233158	NV PUNE TECHNOLOGY PARK PRIVATE LIMITED	Director	06/09/2013	01/08/2012	-	Active	NO
8	U70102MH2012PTC233056	NV PUNE ESTATE PRIVATE LIMITED	Director	06/09/2013	01/08/2012	-	Active	NO
9	U70102MH2013PTC239384	NV MUMBAI ESTATE PRIVATE LIMITED	Director	07/01/2013	07/01/2013	-	Active	NO
10	U70102MH2013PTC246429	NV SPACES AND REALTY PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO

Name :

Mr. Rajiv Devinder Sahney

Designation :

Additional Director

Address :

50, Usha Kiran, M.L. Dhanukar Road, Gamdevi, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

06.09.1962

Date of Appointment :

12.06.2014

DIN No.:

00022896

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	U32109MH1966PTC013516	SAHNEY KIRKWOOD PRIVATE LIMITED	Additional director	12/06/2014	01/02/1992	-	Active	NO
2	U24110MH1982PTC026499	ISOVOLTA (INDIA) PRIVATE LIMITED	Director	11/09/1992	11/09/1992	-	Active	NO
3	U74900MH1978PTC020600	KANWALDEEP SAHNEY ADVISORY PRIVATE LIMITED	Director	01/09/1994	01/09/1994	03/07/2007	Converted to LLP and dissolved	NO
4	U52190KA1987PTC008214	SAHNEY COMMUTATORS PRIVATE LIMITED	Director	08/08/1997	08/08/1997	-	Active	NO
5	U74140MH2001PTC133168	MEDUSIND SOLUTIONS INDIA PRIVATE LIMITED	Director	02/09/2002	02/09/2002	-	Active	NO
6	U74140MH2004PTC146033	N V ADVISORY SERVICES PRIVATE LIMITED	Director	21/07/2005	21/07/2005	-	Active	NO
7	U28920MH1988PTC047335	VARROC ENGINEERING PRIVATE LIMITED	Director	30/09/2006	23/12/2005	21/12/2010	Active	NO
8	U45203AP1998PLC029154	BSCPL INFRASTRUCTURE LIMITED	Director	28/09/2006	05/06/2006	28/02/2013	Active	NO
9	U74140MH1997NPL111167	YOUNG PRESIDENTS ORGANIZATION (MUMBAI CHAPTER)	Director	01/07/2006	01/07/2006	01/07/2008	Active	NO
10	L63010MH2004PLC073508	ALLCARGO LOGISTICS LIMITED	Director	29/09/2006	21/08/2006	09/08/2010	Active	NO
11	U25209MH1995PTC090037	VARROC POLYMERS PRIVATE LIMITED	Director	25/06/2008	25/06/2008	21/12/2010	Active	NO
12	U74999MH2008NPL185159	INTERNATIONAL WINE AND FOOD SOCIETY	Director	28/07/2008	28/07/2008	02/08/2009	Active	NO
13	U52300MH2010PTC210618	MITIGATE TRADING PRIVATE LIMITED	Additional director	10/02/2011	10/02/2011	11/02/2011	Active	NO
14	U70102MH2011PTC219551	RAE REAL ESTATE PRIVATE LIMITED	Director	07/07/2011	07/07/2011	-	Active	NO
15	U70102MH2011PTC223507	NURA REAL ESTATE PRIVATE LIMITED	Director	31/10/2011	31/10/2011	-	Active	NO
16	U91990MH2011NPL225012	YPO WPO SOUTH ASIA CHAPTER	Director	16/12/2011	16/12/2011	-	Active	NO
17	U70102MH2011PTC225340	MRARA REAL ESTATE PRIVATE LIMITED	Director	23/12/2011	23/12/2011	-	Active	NO
18	U70102MH2012PTC233056	NV PUNE ESTATE PRIVATE LIMITED	Director	06/07/2012	06/07/2012	-	Active	NO
19	U70102MH2012PTC233158	NV PUNE TECHNOLOGY PARK PRIVATE LIMITED	Director	09/07/2012	09/07/2012	-	Active	NO
20	U70102MH2012PTC233245	NV TECH SPACES PRIVATE LIMITED	Director	11/07/2012	11/07/2012	-	Active	NO
21	U70102MH2012PTC233501	NV KHARADI PROJECTS PRIVATE LIMITED	Director	18/07/2012	18/07/2012	-	Active	NO
22	U70102MH2013PTC239384	NV MUMBAI ESTATE PRIVATE LIMITED	Director	07/01/2013	07/01/2013	-	Active	NO
23	U70102MH2013PTC246429	NV SPACES AND REALTY PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
24	U70102MH2007PTC175691	BACCHUS HOSPITALITY SERVICES AND REAL ESTATE PRIVATE LIMITED	Additional director	18/03/2015	18/03/2015	-	Active	NO
25	AAA-0551	NV CAPITAL SERVICES LLP	Designated Partner	30/12/2009	30/12/2009	11/06/2014	Active	NO
26	AAA-5138	RAJIV SAHNEY ADVISORY LLP	Designated Partner	10/06/2011	10/06/2011	12/06/2014	Active	NO
27	AAA-5140	KANWALDEEP SAHNEY ADVISORY LLP	Designated Partner	10/06/2011	10/06/2011	12/06/2014	Active	NO
28	AAA-7334	MINICON INSULATED WIRES LLP	Designated Partner	19/12/2011	19/12/2011	12/06/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Bhaviskar
Designation :	Account Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Kanwaldeep Kaur Sahney Devinder Singh Sahney	21600	22.50
Kanwaldeep Kaur Sahney and Jasjiv Sahney	19520	20.33
Rajiv Sahney and Devinder Singh Sahney	19520	20.33
Jasjiv Sahney	18400	19.17
Kanwaldeep Kaur Sahney	16960	17.67
Total	96000	100.00

AS ON 29.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Rigid Mica Insulation for the Traction and Industrial Motors. 

Products :

ITC Code No.	Product Descriptions
681490.06	Mica Based Insulating Material
854690.90	Electrical Insulators of any Material
850300.04	Commutator-Parts for Electric Motor

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

· Finished Goods

Countries :

· UK

· Europe

· America

· Iran

· Bhutan

· Brazil

· Spain

· Germany

Imports :

Products :

• Raw Materials

Countries :

• China
• South Africa
• Austria

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2013):

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Micanite Products/ Mica based Insulation Materials	Tons	490	490	232

GENERAL INFORMATION

Suppliers :

Reference :	Huntsman International India Private Limited, Mumbai
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 :

Reference :	Crompton Greaves Limited, Mandideep
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 :

140 (Approximately)

Bankers :

Banker Name	Citibank N.A.
Branch Address	First International Financial Centre, 9^th Floor, Plot No.C-54, C-55, G-Block, BKC, Bandra, Mumbai – 400 051, Maharashtra, India
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

· Indian Bank

· Punjab National Bank

· Canara Bank

· Andhra Bank

· HDFC Bank Limited

· The Saraswat Co-Operative Bank Limited

· Punjab and Sind Bank

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Term Loan form Indian Bank An amount of Rs.40.926 million (Previous year: Rs.36.771 million) (Term Loan is secured by second charge on fixed, movable and current assets of the company) (Repayable in 26 quarterly installment of Rs.1.700 million)	24.326	32.826
Long-Term Maturities of Finance Lease Obligations:
Kotak Mahindra Prime Limited
- Car Loan 1	2.231	0.000
- Car Loan 2	1.094	0.000
(Repayable with the Monthly EMI of Rs.0.098 million for Car Loan 1) (Repayable with the Monthly EMI of Rs.0.048 million for Car Loan 2) (All above finance lease is secured against Cars)
SHORT TERM BORROWINGS
Loans repayable on demand (Secured by first charge on present and future stock and receivables and negative lien on property bearing No.C-121, TTC Industrial Area MIDC, Navi Mumbai)	32.150	28.252
Total	59.801	61.078

Banking Relations :	--
Auditors :
Name :	K.P. Rao and Company Chartered Accountants
Address :	25, State Bank Road, Bangalore – 560 025, Karnataka, India
Tel. No.:	91-80-25587385/ 25586814
Fax No.:	91-80-25594661
E-Mail :	info@kprao.co.in
Income-tax PAN of auditor or auditor's firm :	AAAFK7720M
Memberships :	Not Available
Collaborators :	Not Available
Other Related Parties :	Isovolta (India) Private Limited T.S. and Company Sahney Commutators Private Limited

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs.10.000 million
100000	Preference Shares	Rs.100/- each	Rs.10.000 million
	Total		Rs.20.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
96000	Equity Shares	Rs.100/- each	Rs.9.600 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	9.600	9.600	9.600
(b) Reserves & Surplus	373.573	395.187	323.561
(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)	383.173	404.787	333.161
(3) Non-Current Liabilities
(a) Long-term borrowings	27.651	32.826	26.631
(b) Deferred tax liabilities (Net)	25.049	26.335	25.968
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	5.466	2.055	69.936
Total Non-current Liabilities (3)	58.166	61.216	122.535
(4) Current Liabilities
(a) Short term borrowings	32.150	28.252	22.964
(b) Trade payables	57.691	46.180	48.521
(c) Other current liabilities	52.498	30.555	29.780
(d) Short-term provisions	0.508	0.465	25.094
Total Current Liabilities (4)	142.847	105.452	126.359
TOTAL	584.186	571.455	582.055
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	185.179	163.969	144.761
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	7.995	0.494
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	112.556	124.748	85.827
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	82.791	92.852	135.821
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	380.526	389.564	366.903
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	37.685	42.391	35.228
(c) Trade receivables	130.404	118.141	124.898
(d) Cash and cash equivalents	12.005	13.535	19.129
(e) Short-term loans and advances	23.566	7.824	35.897
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	203.660	181.891	215.152
TOTAL	584.186	571.455	582.055

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	416.896	436.023	412.874
		Other Income
		TOTAL	416.896	436.023	412.874
Less	EXPENSES
		TOTAL	330.788	333.124	325.910
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		86.108	102.899	86.964
Less/ Add	DEPRECIATION/ AMORTISATION		13.415	12.115	11.382
	PROFIT/ (LOSS) BEFORE TAX		72.693	90.784	75.582
Less	TAX		14.283	19.158	24.488
	PROFIT/ (LOSS) AFTER TAX		58.410	71.626	51.094
	EARNINGS IN FOREIGN CURRENCY
		Export at FOB Value	193.280	199.181	156.379
		Reimbursement of insurance and freight		12.177	11.838
		Commission		14.468	30.778
	TOTAL EARNINGS		193.280	225.826	198.995
	IMPORTS
		Raw Materials	NA	21.932	28.258
		Store Parts & Spares	NA	0.882	1.531
	TOTAL IMPORTS		NA	22.814	29.789
	Earnings / (Loss) Per Share (Rs.)		608.44	746.00	531.00

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	15.41	20.69	15.25
Return on Investment (ROI) (PBT/Networth)		0.19	0.22	0.23
Debt Equity Ratio (Total Debt/Networth)		0.16	0.15	0.15
Current Ratio (Current Asset/Current Liability)		1.43	1.72	1.70

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Share Capital	9.600	9.600	9.600
Reserves & Surplus	323.561	395.187	373.573
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	333.161	404.787	383.173
Long Term borrowings	26.631	32.826	27.651
Short Term borrowings	22.964	28.252	32.150
Total borrowings	49.595	61.078	59.801
Debt/Equity ratio	0.149	0.151	0.156

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Total Income	412.874	436.023	416.896
		5.607	(4.387)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Total Income	412.874	436.023	416.896
Profit	51.094	71.626	58.410
	12.38%	16.43%	14.01%

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

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10471425	31/12/2013	20,000,000.00	CITIBANK N. A.	FIRST INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR, PLOT NO.C-54, C-55, G-BLOCK, BKC, BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA	B93968279
2	10373477	10/08/2012	10,000,000.00	CITIBANK N. A.	TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	B56796402
3	10157597	18/05/2009 *	44,000,000.00	INDIAN BANK	NEW THIPPASANDRA BRANCH, NO.622, 80 FT ROAD, 12TH MAIN, HAL II STAGE, BANGALORE, KARNATAKA - 560008, INDIA	A62451646
4	10025081	26/09/2006	25,000,000.00	CITI BANK N.A.	CITIGROUP CENTRE, C-61, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	A06238026
5	80015398	26/09/2006 *	51,000,000.00	CITI BANK N.A.	CITIGROUP CENTRE, BANDRA EAST, BANDRA KURLA COMPLEX, G BLOCK, MUMBAI, MAHARASHTRA - 400051, INDIA	-
6	80042664	10/08/2012 *	39,000,000.00	CITIBANK N. A.	TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	B56796055
7	90231049	20/04/2000 *	257,500,000.00	HDFC LIMITED	CHURCHGATE, BOMBAY, MAHARASHTRA - 400020, INDIA	-
8	90226987	06/08/1999	10,000,000.00	SICOM LIMITED	NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA	-
9	90228855	24/11/1994	2,500,000.00	CANARA BANK	CHATKOPAR W BRANCH, BOMBAY, MAHARASHTRA - 400086, INDIA	-
10	90228796	25/06/1994	4,200,000.00	PUNJAB AND SIND BANK	AMBALAL DOSHI MARG, BOMBAY, MAHARASHTRA - 400023, INDIA	-
11	90228655	15/06/1993	375,000.00	CANARA BANK	GHATKOPAR WEST BRANCH, BOMBAY, MAHARASHTRA - 400086, INDIA	-
12	90226878	26/05/1992	12,551,000.00	CANARA BANK	GHATKOPAR WEAT, BOMBAY, MAHARASHTRA - 400086, INDIA	-
13	90230705	28/03/1992	100,000.00	CANARA BANK	GHATKOPAR WAST BRANCH, BOMBAY, MAHARASHTRA - 400086, INDIA	-
14	90228525	06/08/1999 *	3,200,000.00	CANARA BANK	GHATKOPA, BOMBAY, MAHARASHTRA - 400086, INDIA	-
15	90230704	02/03/1994 *	3,200,000.00	CANARA BANK	CHATKOPAR W BRANCH, BOMBAY, MAHARASHTRA - 400086, INDIA	-
16	90231633	16/01/1989	1,000,000.00	CANARA BANK	J P ROAD, BOMBAY, MAHARASHTRA - 400086, INDIA	-
17	90228086	06/07/1988	1,322,000.00	PUNJAB AND SIND BANK	HAMAM STREET FORT, BOMBAY, MAHARASHTRA - 400023, INDIA	-
18	90231611	31/05/1988	9,000,000.00	PUNJAB NATIONAL BANK	OPERA HOUSE, BOMBAY, MAHARASHTRA - 400004, INDIA	-
19	90230483	31/01/1987	401,100.00	CANARA BANK	J P ROAD, BOMBAY, MAHARASHTRA - 400086, INDIA	-
20	90230464	01/09/1986	632,555.00	CANARA BANK	J P ROAD, BOMBAY, MAHARASHTRA - 400086, INDIA	-
21	90230451	21/02/1986	950,000.00	CANARA BANK	J P ROAD, BOMBAY, MAHARASHTRA - 400086, INDIA	-
22	90230399	10/05/1990 *	1,300,000.00	CANARA BANK	GHATKOPAR WEAT, BOMBAY, MAHARASHTRA - 400086, INDIA	-
23	90227742	26/10/1984	7,800,000.00	CANARA BANK	GHATKOPAR WEST, BOMBAY, MAHARASHTRA - 400086, INDIA	-
24	90230398	16/10/1984	500,000.00	CANARA BANK	R D BHATKOPAR WEAT, BOMBAY, MAHARASHTRA, INDIA	-
25	90232439	31/01/1985 *	3,000,000.00	THE STATE INDUSTRIAL AND INVESTMENT CORPORATION OF  MAHARSHTR	NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA	-
26	90227636	28/09/1982	61,600.00	PUNJAB AND SIND BANK	27-29 HAMAM STREET FORT, BOMBAY, MAHARASHTRA, INDIA	-
27	90227590	04/08/1981	565,600.00	PUNJAB AND SIND BANK	HAMAM STREET, BOMBAY, MAHARASHTRA - 3, INDIA	-
28	90227569	04/02/1981	120,800.00	PUNJAB AND SIND BANK	HAMAM STREET FORT, BOMBAY, MAHARASHTRA, INDIA	-
29	90227561	04/12/1980	104,600.00	PUNJAB AND SIND BANK	HAMAM STREET BRANCH, BOMBAY, MAHARASHTRA, INDIA	-
30	90231399	30/09/1977	1,000,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	APSARA CINEMA BUILDING, BOMBAY, MAHARASHTRA - 400007, INDIA	-
31	90227408	10/03/1976	1,201,200.00	THE ANDHRABANK LIMITED	18 HOMI MODY STREET FORT, BOMBAY, MAHARASHTRA - 400023, INDIA	-
32	90226813	08/03/1976	1,125,000.00	PUNJAB AND SIND BANK	78 GIRGAUM ROAD OPERA HOUSE, BOMBAY, MAHARASHTRA - 400004, INDIA	-
33	90227405	25/06/1994 *	1,500,000.00	PUNJAB AND SIND BANK	AMBALAL DOSHI MARG, BOMBAY, MAHARASHTRA - 400023, INDIA	-
34	90227400	25/01/1976	219,720.00	BANK OF AMERICA	EXPRESS TOWER, BOMBAY, MAHARASHTRA - 400021, INDIA	-
35	90227360	01/10/1974	71,846.00	THE UNITED INDNA FIRE AND CENTRAL INSURANCE COMPANY LIMITED	APOLLO STREET FORT, BOMBAY, MAHARASHTRA - 400001, INDIA	-
36	90227357	09/07/1974	2,000,000.00	BANK OF AMERICA	NARIMAN POINT, BOMBAY, MAHARASHTRA - 400001, INDIA	-
37	90230248	31/05/1974	500,000.00	CANARA BANK	TOWN HALL BRANACH, BOMBAY, MAHARASHTRA - 400002, INDIA	-
38	90227352	22/05/1974	385,000.00	PUNJAB NATIONAL BANK	SANDHURST ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
39	90227341	08/11/1973	235,000.00	THE ANDHRA BANK LIMITED	BRUCE STREET FORT, BOMBAY, MAHARASHTRA, INDIA	-
40	90227332	21/05/1973	250,000.00	PUNJAB NATIONAL BANK	SANDHURST ROAD BRANCH, BOMBAY, MAHARASHTRA - 400004, INDIA	-
41	90230226	31/05/1972	1,900,000.00	BANK OF AMERCA	NARIMAN POINT, BOMBAY, MAHARASHTRA - 400020, INDIA	-
42	90227300	16/02/1972	1,300,000.00	BANK OF AMERICA NATIONAL TRUST AND SAVINGS	NARIMAN POINT, BOMBAY, MAHARASHTRA - 400020, INDIA	-
43	90227287	25/05/1971	500,000.00	BANK OF AMERICA	18 BRUSE STREET FORT, BOMBAY, MAHARASHTRA - 400001, INDIA	-
44	90227273	30/04/1970	400,000.00	PUNJAB NATIONAL BANK	SANDHURST ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
45	90227261	26/08/1969	250,000.00	PUNJAB NATIONAL BANK	SANDHURST ROAD BRANCH, BOMBAY, MAHARASHTRA - 400004, INDIA	-
46	90227257	28/06/1969	250,000.00	PUNJAB NATIONAL BANK	SANDHURST ROAD, BOMBAY, MAHARASHTRA - 400004, INDIA	-
47	90227217	11/03/1985 *	600,000.00	PUNJAB NATIONAL BANK	OPERA HOUSE, BOMBAY, MAHARASHTRA - 400004, INDIA	-

* Date of charge modification

CONTINGENT LIABILITIES NOT PROVIDED FOR:

Particulars	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
a) Contested by the Company and pending in appeal:
i) Excise Duty	0.659	0.659
ii) Sales Tax	0.200	0.200
iii) ESIC	0.472	0.472
b) Claims against the Company not acknowledged as debts	0.163	0.163

FIXED ASSETS:

· Leasehold Land

· Buildings

· Plant and Machinery

· Furniture, Fixture, Office Equipments etc.

· Air Conditioners and Coolers

· Vehicles

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.62.16
UK Pound	1	Rs.92.73
Euro	1	Rs.68.23

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUC
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
-- PROFITABILITY	1~10	6
--LIQUIDITY	1~10	4
--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	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		47

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.