MIRA INFORM REPORT

Report No. :	316329
Report Date :	08.04.2015

IDENTIFICATION DETAILS

Name :	ABI-SHOW TECH (INDIA) LIMITED

Registered Office :	No. 67, Chamiers Road, R. A. Puram, Chennai – 600 028, Tamilnadu

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	18.12.1991

Com. Reg. No.:	18-021872

Capital Investment / Paid-up Capital :	Rs. 71.130 Million

CIN No.: [Company Identification No.]	U40103TN1991PLC021872

TAN No.: [Tax Deduction & Collection Account No.]	CHEA01159E

PAN No.: [Permanent Account No.]	AABCA8160B

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer and Supplier of compressor wheel.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (62)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 9200000

Status :	Good

Payment Behavior :	Regular

Litigation :	Exist

Comments :	Subject is an established company having fine track. The company’s products are well received in the market. Overall fundamentals are strong and healthy. The rating also takes into consideration good net worth position of the company. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments. The company can be considered good 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

Rating Agency Name	ICRA
Rating	Long term rating “A+”
Rating Explanation	Adequate degree of safety and low credit risk.
Date	July 2013

Rating Agency Name	ICRA
Rating	Short term rating “A1+”
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	July 2013

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-cooperative (91-44-24318787)

LOCATIONS

Registered Office :	No. 67, Chamiers Road, R. A. Puram, Chennai – 600 028, Tamilnadu, India
Tel. No.:	91-44-24318787
Fax No.:	91-44-24318798
E-Mail :	abifincorp@turboenergy.co.in
Area :	Owned

Factory :	No.2, Puliwalam Village, Banavaram Post, Vellore – 632 505, Tamilnadu, India

DIRECTORS

As on: 27.08.2014

Name :

Mr. Ragavachary Ramanujam

Designation :

Director

Address :

17, Parthasarathy Gardens, Chennai - 600 018, Tamilnadu

Date of Birth/Age :

29.07.1936

Date of Appointment :

02.08.1993

DIN No.:

00365735

Election Card No.:

TN/02/010/0276654

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	U35999TN1962PLC004928	BRAKES INDIA LIMITED	Managing director	02-10-2010	08-01-1975	-	Active	NO
2	U40107TN1982PLC009363	TURBO ENERGY LIMITED.	Director	03-05-1982	03-05-1982	-	Active	NO
3	U32109KA1988PTC009484	ELCO NTTF (INDIA)PRIVATE LIMITED	Director	03-10-1988	03-10-1988	-	Strike off	NO
4	U40107TN1981PLC008903	TRANS ENERGY LIMITED	Director	31-12-1991	31-12-1991	27-06-2012	Active	NO
5	U40103TN1991PLC021872	ABI-SHOWATECH (INDIA) LIMITED	Director	02-08-1993	02-08-1993	-	Active	NO
6	U29221KA1994PTC015104	NTTF INDUSTRIES Private LIMITED	Director	06-01-1994	06-01-1994	27-03-2008	Active	NO
7	U27209TN1994PLC028326	LIGHT ALLOY PRODUCTS LIMITED	Director	19-12-1994	19-12-1994	-	Amalgamated	NO
8	U85110KA1999NPL025461	NETTUR TECHNICAL TRAINING FOUNDATION	Director	30-09-1999	30-09-1999	-	Active	NO
9	U27203TN2005PLC055405	LAP-ROSS ENGINEERING LIMITED	Director	17-02-2005	17-02-2005	-	Amalgamated	NO
10	U28113TN2010PLC075244	FLOMETALLIC INDIA LIMITED	Director	05-04-2010	05-04-2010	-	Active	NO
11	U40102TN2013PLC089342	PULIVALAM POWER PLANT LIMITED	Director	11-01-2013	11-01-2013	-	Amalgamated	NO

Name :

Mr. Ramanujam Srikanth

Designation :

Managing director

Address :

5, Bishop Garden, Raja Annamalai Puram, Chennai – 600028, Tamilnadu, India

Date of Birth/Age :

19.09.1961

Date of Appointment :

01.04.2012

DIN No.:

00272553

Election Card No.:

AFM0300699

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	U65991TN1981PTC009100	SILVER OAK HOLDINGS PRIVATE LIMITED	Director	26-11-1981	26-11-1981	-	Active	NO
2	U28920TN1993PTC025794	SUNDARAM DYNACAST PRIVATE LIMITED	Director	15-09-1993	15-09-1993	-	Active	NO
3	U35999TN1962PLC004928	BRAKES INDIA LIMITED	Managing director	01-04-2010	29-11-2000	-	Active	NO
4	U85320TN1999NPL041989	YOUNG PRESIDENTS ORGANISATION (CHENNAI CHAPTER)	Director	20-09-2003	20-09-2003	14-08-2010	Active	NO
5	U33111TN1986PLC013633	SHOWA ENGINEERING LIMITED	Director	24-06-2004	24-06-2004	-	Amalgamated	NO
6	U72300TN1993PLC024706	REAL TALENT ENGINEERING LIMITED	Director	24-06-2004	24-06-2004	-	Active	NO
7	U27209TN1994PLC028326	LIGHT ALLOY PRODUCTS LIMITED	Director	02-05-2005	02-05-2005	-	Amalgamated	NO
8	U40103TN1991PLC021872	ABI-SHOWATECH (INDIA) LIMITED	Managing director	01-04-2012	17-06-2005	-	Active	NO
9	U45400TN2008PTC069038	ABI PREMISES PRIVATE LIMITED	Director	27-08-2008	27-08-2008	29-09-2008	Active	NO
10	U51909TN2000PLC044441	FORGE 2000 LIMITED	Director appointed in casual vacancy	27-03-2009	27-03-2009	01-07-2010	Active	NO
11	U28113TN2010PLC075244	FLOMETALLIC INDIA LIMITED	Director	09-08-2012	05-04-2010	-	Active	NO
12	U40102TN2013PLC089342	PULIVALAM POWER PLANT LIMITED	Director	11-01-2013	11-01-2013	-	Amalgamated	NO
13	U34100TN2013PLC091299	SAS ACTUATORS LIMITED	Director	24-05-2013	24-05-2013	-	Active	NO
14	U65991TN1921NPL001337	CHENNAI WILLINGDON CORPORATE FOUNDATION	Director appointed in casual vacancy	09-12-2013	09-12-2013	-	Active	NO
15	U74140KA2007PTC042217	EDUTECH NTTF INDIA PRIVATE LIMITED	Director	17-12-2014	17-12-2014	-	Active	NO

Name :

Mr. Narayanaswami Venkataramani

Designation :

Director

Address :

Lakshmi, 12 Boat Club Road, Chennai – 600028, Tamilnadu, India

Date of Birth/Age :

09.12.1939

Date of Appointment :

07.04.2014

DIN No.:

00001639

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	U35999TN1949PLC000951	INDIA PISTONS LIMITED	Managing director	01-04-2013	01-10-1975	-	Active	NO
2	U35999TN1967PLC005566	AMALGAMATIONS REPCO LIMITED	Director	17-12-1977	17-12-1977	-	Active	NO
3	U50300TN1956PLC000758	GEORGE OAKES LIMITED	Director	09-05-1983	09-05-1983	-	Active	NO
4	U40107TN1981PLC008903	TRANS ENERGY LIMITED	Director	29-10-1984	29-10-1984	24-03-2012	Active	NO
5	L29130TN1961PLC004466	BIMETAL BEARINGS LIMITED	Director	08-02-1985	08-02-1985	-	Active	NO
6	U32109KA1988PTC009484	ELCO NTTF (INDIA)PRIVATE LIMITED	Director	25-11-1988	25-11-1988	-	Strike off	NO
7	L28920TN1991PLC020232	IP RINGS LIMITED	Director	30-01-1991	30-01-1991	-	Active	NO
8	U35990TN1985PLC012333	IP PINS & LINERS LIMITED	Director	18-03-1993	18-03-1993	-	Active	NO
9	U29221KA1994PTC015104	NTTF INDUSTRIES Private LIMITED	Director	06-01-1994	06-01-1994	17-08-2012	Active	NO
10	U51909TN1994PLC026633	IP POWER CYLINDER SYSTEMS LIMITED	Director	27-01-1994	27-01-1994	-	Amalgamated	NO
11	U29130TN1997PTC037909	AMALGAMATIONS VALEO CLUTCH PRIVATE LIMITED	Director	27-06-1997	27-06-1997	-	Active	NO
12	U85110KA1999NPL025461	NETTUR TECHNICAL TRAINING FOUNDATION	Director	13-07-1999	13-07-1999	-	Active	NO
13	L01132TZ1946PLC000180	STANES AMALGAMATED ESTATES LIMITED	Director	28-10-1999	28-10-1999	-	Active	NO
14	U45201TN1950PTC000038	ADYAR PROPERTY HOLDING COMPANY PRIVATE LIMITED	Director	10-11-2000	10-11-2000	-	Active	NO
15	U34107TN2001PTC047925	STANADYNE AMALGAMATIONS PRIVATE LIMITED	Director	26-10-2001	26-10-2001	-	Active	NO
16	U29130TN2007PLC064383	MAHLE IPL LIMITED	Director	04-08-2007	04-08-2007	01-01-2014	Amalgamated	NO
17	U29253TN2010PTC077285	IPL ENGINE COMPONENTS PRIVATE LIMITED	Director	30-08-2011	08-09-2010	-	Active	NO
18	L65191TN1954PLC002429	SUNDARAM FINANCE LIMITED	Director	23-07-2014	24-09-2010	-	Active	NO
19	U65991TN1925PLC002345	SIMPSON AND COMPANY LIMITED	Director	29-01-2011	29-01-2011	-	Active	NO
20	U35999TN1938PTC000019	AMALGAMATIONS PRIVATE LIMITED	Director	29-01-2011	29-01-2011	-	Active	NO
21	U65991TN1921NPL001337	CHENNAI WILLINGDON CORPORATE FOUNDATION	Director	19-05-2011	19-05-2011	04-12-2014	Active	NO
22	U40107TN2011PLC083540	IPL GREEN POWER LIMITED	Director	12-12-2011	12-12-2011	-	Active	NO
23	U27203TN2005PLC055405	LAP-ROSS ENGINEERING LIMITED	Director	19-09-2013	21-06-2013	-	Amalgamated	NO
24	U40103TN1991PLC021872	ABI-SHOWATECH (INDIA) LIMITED	Director	07-11-2014	27-01-2014	-	Active	NO

Name :

Mr. Srinivasan Ravindran

Designation :

Director

Address :

7, Kasturi Estates, III Street, Chennai – 600086, Tamilnadu, India

Date of Birth/Age :

28.01.1951

Date of Appointment :

07.04.2014

DIN No.:

00045076

Election Card No.:

CJJ3103306

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	U33111TN1985PLC012526	D.L.S.CONSULTANTS LIMITED	Director	30-09-1995	30-09-1995	09-03-2007	Active	NO
2	U35999TN1994PLC028019	AZTEC AUTO LIMITED	Director	25-03-1996	25-03-1996	26-03-2007	Active	NO
3	U65993TN1983PTC009832	UTHIRATTADHI SRI RAM HOLDINGS PRIVATE LIMITED	Director	25-03-1999	25-03-1999	03-05-2010	Active	NO
4	U65993TN1983PTC009871	RAGHUVAMSA HOLDINGS PRIVATE LIMITED	Director	25-03-1999	25-03-1999	03-05-2010	Active	NO
5	U65993TN1983PTC009831	ATHREYA HARSHA HOLDINGS PRIVATE LIMITED	Director	25-03-1999	25-03-1999	03-05-2010	Active	NO
6	U01119TN1987PTC014780	SRISHTI FARMS PRIVATE LIMITED	Director	25-03-1999	25-03-1999	03-05-2010	Active	NO
7	U65991TN1981PTC009100	SILVER OAK HOLDINGS PRIVATE LIMITED	Director	30-05-2000	30-05-2000	03-05-2010	Active	NO
8	U65991TN1981PTC009098	ALLEGRO HOLDINGS PRIVATE LIMITED	Director	30-05-2000	30-05-2000	03-05-2010	Active	NO
9	U65993TN1982PTC009757	PADMALAKSHMI HOLDINGS PRIVATE LIMITED	Director	30-05-2000	30-05-2000	09-06-2010	Active	NO
10	U27209TN1994PLC028326	LIGHT ALLOY PRODUCTS LIMITED	Director	18-03-2003	18-03-2003	-	Amalgamated	NO
11	U40107TN1981PLC008903	TRANS ENERGY LIMITED	Director	25-03-2004	25-03-2004	03-08-2012	Active	NO
12	U01119TN1987PTC014824	PEBBLE BEACH FARMS PRIVATE LIMITED	Director	03-01-2005	03-01-2005	03-05-2010	Active	NO
13	U40103TN1991PLC021872	ABI-SHOWATECH (INDIA) LIMITED	Director	07-11-2014	06-01-2005	-	Active	NO
14	U65993TN1982PTC009755	REVATHI HOLDINGS PRIVATE LIMITED	Director	30-05-2005	30-05-2005	09-06-2010	Active	NO
15	U65993TN1982PLC009756	MAHAM HOLDINGS LIMITED	Director	30-05-2005	30-05-2005	09-06-2010	Active	NO
16	L65991TN1954PLC000958	INDIA MOTOR PARTS & ACCESSORIES LIMITED	Director	29-09-2014	24-01-2006	-	Active	NO
17	U40107TN1982PLC009363	TURBO ENERGY LIMITED.	Whole-time director	01-01-2012	01-01-2007	-	Active	NO
18	L65191TN1954PLC002429	SUNDARAM FINANCE LIMITED	Director	24-07-2009	29-07-2008	-	Active	NO
19	U45400TN2008PTC069038	ABI PREMISES PRIVATE LIMITED	Director	27-08-2008	27-08-2008	-	Active	NO
20	U74999TN1985GAP011990	BRAKES INDIA SENIOR OFFICERS WELFARE ASSOCIATION LIMITED	Director	16-04-2009	16-04-2009	-	Active	NO
21	U72300TN1993PLC024706	REAL TALENT ENGINEERING LIMITED	Director	30-09-2011	20-04-2011	-	Active	NO
22	U65922TN1999PLC042759	Sundaram BNP Paribas Home Finance Limited	Director	09-08-2012	09-08-2012	21-10-2014	Active	NO
23	U40102TN2013PLC089342	PULIVALAM POWER PLANT LIMITED	Director	11-01-2013	11-01-2013	-	Amalgamated	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 27.08.2014

Names of Shareholders	No. of Shares
R. Ramanujam	15
ABI-Showtech International Pte Limited	4606695
Silver Oak Holdings Private Limited	15
Rohini Holdings Private Limited	30
R Srikanth	15
Turbo Energy Limited	1406250
Vikasa Pte Limited	1100000
Total	7113020

Equity Share Break up (Percentage of Total Equity)

As on: 27.08.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	80.23
Bodies corporate	19.77
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of compressor wheel.

Products :

Item Code No.	Product Description
84149000	Part and Accessories of Motor Vehicles
87089000	Part and Accessories of Motor Vehicles

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

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 Divulged

Bankers :

HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India
Industrial Development Bank of India Limited, P.M. Tower, 37, Greams Road, Thousand Lights, Chennai - 600006, Tamilnadu, India
IDBI Bank Limited, 37, Greams Road, Chennai, Tamil Nadu, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	607.015	0.000
Short-term borrowings
Loans repayable on demand from banks	202.000	542.999
Total	809.015	542.999


Financial Institute :	SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade,, Mumbai - 400005, Maharashtra, India

Auditors :
Name:	Sundaram and Srinivasan Chartered Accountants
Address :	No.23, C.P. Ramswamy Road, Alwarpet, Chennai – 600 018, Tamilnadu, India
Pan No :	AAAFS8812J

Memberships :	Not Available

Collaborators :	Not Available

Other Related Parties:	LAP – Ross Engineering Limited (U27203TN2005PLC055405) Light Alloy Products Limited (U27209TN1994PLC028326)

Associate:	ABI-Showatech (Oman) LLC (FZC)

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Brakes India Limited Flometallic India Limited (U28113TN2010PLC075244)

Holding company:	ABI-Showatech International Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

17,000,000	Equity Shares	Rs.10/- each	Rs. 170.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

7,113,020	Equity Shares	Rs.10/- each	Rs. 71.130 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	71.130	71.130	71.130
(b) Reserves & Surplus	3145.990	1873.854	1570.583
(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)	3217.120	1944.984	1641.713

(3) Non-Current Liabilities
(a) long-term borrowings	955.015	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	76.379	64.403	64.106
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1031.394	64.403	64.106

(4) Current Liabilities
(a) Short term borrowings	202.000	542.999	51.499
(b) Trade payables	245.623	130.326	125.785
(c) Other current liabilities	517.995	89.870	84.994
(d) Short-term provisions	56.238	24.722	19.817
Total Current Liabilities (4)	1021.856	787.917	282.095

TOTAL	5270.370	2797.304	1987.914

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1796.927	894.492	789.606
(ii) Intangible Assets	7.519	0.077	0.335
(iii) Capital work-in-progress	18.485	66.230	95.854
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1796.204	276.209	89.875
(c) Deferred tax assets (net)	34.567	56.873	41.835
(d) Long-term Loan and Advances	80.954	45.595	20.261
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3734.656	1339.476	1037.766

(2) Current assets
(a) Current investments	233.910	95.559	85.900
(b) Inventories	402.993	322.280	358.019
(c) Trade receivables	634.539	485.478	382.466
(d) Cash and cash equivalents	19.691	406.694	6.681
(e) Short-term loans and advances	219.727	138.185	92.879
(f) Other current assets	24.854	9.632	24.203
Total Current Assets	1535.714	1457.828	950.148

TOTAL	5270.370	2797.304	1987.914

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	3242.603	2678.655	2564.571
		Other Income	124.091	81.504	60.264
		TOTAL (A)	3366.694	2760.159	2624.835

Less	EXPENSES
		Cost of Materials Consumed	1085.990	1108.067	1068.140
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(40.800)	28.920	(60.879)
		Employees benefits expense	370.299	226.997	223.707
		Other expenses	992.470	703.176	613.466
		TOTAL (B)	2407.959	2067.160	1844.434

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		958.735	692.999	780.401

Less	FINANCIAL EXPENSES (D)		180.554	8.100	8.860

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		778.181	684.899	771.541

Less/ Add	DEPRECIATION/ AMORTISATION (F)		329.783	239.666	183.921

	PROFIT BEFORE TAX (E-F) (G)		448.398	445.233	587.620

Less	TAX (H)		146.585	141.962	193.713

	PROFIT AFTER TAX (G-H) (I)		301.813	303.271	393.907

	EARNINGS IN FOREIGN CURRENCY		1556.269	1421.800	1428.930

	Earnings Per Share (Rs.)		42.43	42.64	55.38

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	9.31	11.32	15.36

Operating Profit Margin (PBIDT/Sales)	(%)	29.57	25.87	30.43

Return on Total Assets (PBT/Total Assets}	(%)	13.11	18.57	33.38

Return on Investment (ROI) (PBT/Networth)		0.14	0.23	0.36

Debt Equity Ratio (Total Debt /Networth)		0.36	0.28	0.03

Current Ratio (Current Asset/Current Liability)		1.50	1.85	3.37

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	71.130	71.130	71.130
Reserves & Surplus	1570.583	1873.854	3145.990
Net worth	1641.713	1944.984	3217.120

long-term borrowings	0.000	0.000	955.015
Short term borrowings	51.499	542.999	202.000
Total borrowings	51.499	542.999	1157.015
Debt/Equity ratio	0.031	0.279	0.360

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)
Revenue from operations	2564.571	2678.655	3242.603
		4.448	21.053

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	2564.571	2678.655	3242.603
Profit	393.907	303.271	301.813
	15.36%	11.32%	9.31%

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	No
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	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	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	Yes
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS:

CHENNAI COURT

CASE STATUS INFORMATION SYSTEM

CASE STATUS : PENDING

STATUS OF TAX CASE APPEAL 479 OF 2013

PETITIONER: THE COMMISSIONER OF INCOME TAX VS. M/S ABI SHOWATECH INDIA LIMITED

PET'S ADV. : M/S. T. RAVIKUMAR

RES'S ADV. : CHENNAI

LAST LISTED ON : 5/11/2013

LAST LISTED ON : TUESDAY, NOVEMBER 05, 2013

CATEGORY : NO CATEGORY MENTIONED

CASE UPDATED ON: FEB 26.02.2014

CONNECTED APPLICATION (S)

NO CONNECTED APPLICATION.

CONNECTED MATTER (S)

NO CONNECTED CASES.

CASE UPDATED ON: WEDNESDAY, FEBRUARY 26, 2014

OPERATIONS:

The global economy continued to be sluggish in the year 2013-14 and for the first time in the last two decades, the Indian economy registered a growth rate below 5% in two successive years due to a steady deceleration in industrial growth. Besides severe credit constraints, the factors such as extreme volatility in foreign currency rates and high inflation during 2013-14, have impacted with more severity, the performance of the auto and auto component industries. However, the company’s gross revenue stood at Rs.3366.700 Million and the profit before tax is Rs.448.400 Million during the year 2013-14. Provision of Rs.146.600 Million has been made towards income tax (including deferred tax), leaving an after tax profit of Rs.301.800 Million.

OUTLOOK FOR THE CURRENT YEAR:

There is a change of Government in India, arising out of the National election held during April and May this year. This change has brought in a Government, who have an absolute majority in the Parliament. The first finance budget presented by them in the Parliament is giving a new hope for the revival of economy. The company continues to look into avenues for cost control initiatives, conserving cash resources and ensuring reliability in supplies from critical vendors as focal importance in the coming year.

UNSECURED LOAN:

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Intercorporate deposits	348.000	0.000
Total	348.000	0.000

CONTINGENT LIABILITIES:

(Rs. in Million)

PARTICULARS	31.03.2014
Guarantees	74.721
Other money for which company is contingently liable	90.432
Total	165.153

INDEX OF CAHRGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10463613	08/11/2013	542,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E',, CUFFE PARADE,, MUMBAI, Maharashtra - 400005, INDIA	B90881434
2	10436290	17/06/2013	200,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B79378154
3	10320974	05/06/2013 *	750,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B78684461
4	10220907	26/05/2010	50,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	A86728219
5	10219507	05/06/2013 *	150,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B78685161

* Date of charge modification

FIXED ASSETS:

Land
Building
Plant and equipment
Furniture and fixtures
Vehicles
Office equipment
Computer software

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 records 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.62.33
UK Pound	1	Rs.92.83
Euro	1	Rs.68.08

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	SUM

Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	8
--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	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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		62

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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