MIRA INFORM REPORT

Report No. :	335036
Report Date :	05.08.2015

IDENTIFICATION DETAILS

Name :	SRI SHANMUGAVEL MILLS PRIVATE LIMITED
Registered Office :	207, Mangalam Road, Tirupur, District Coimbatore – 641604, Tamilnadu
Tel. No.:	91-4212205032
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.04.1980
Com. Reg. No.:	18-000935
Capital Investment / Paid-up Capital :	Rs. 5.000 Million
CIN No.: [Company Identification No.]	U17111TZ1980PTC000935
IEC No.:	3290003124
TAN No.: [Tax Deduction & Collection Account No.]	CMBS05088G
PAN No.: [Permanent Account No.]	AADCS8200N
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer, Exporter and Supplier of Cotton Yarn and Fabrics.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a flagship company of Shanmugavel Group, was set up in the year 1980. It has a fine track record. As per the available financials of the year ended 2014, the company possesses healthy operational activity marked by steady growth in sales turnover along with decent profitability margin of 6.5%. Further, the company has decent financial risk profile backed by efficient net worth position and low borrowings taken by the company. The rating derive comfort from the long standing market presence along with established group. Trade relations are fair. Business is active. Payments terms are regular. 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	ICRA
Rating	Long Term Fund Based Limits = A
Rating Explanation	Adequate degree of safety and low credit risk.
Date	December 2014

Rating Agency Name	ICRA
Rating	Short Term non-fund Based Limits = A1
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	December 2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. Arogyaraj
Designation :	Export Department
Contact No.:	91-451-2557001
Date :	03.08.2015

LOCATIONS

Registered Office :	207, Mangalam Road, Tirupur, District Coimbatore – 641604, Tamilnadu, India
Tel. No.:	91-421-2245337/ 2205031/ 35/ 32
Fax No.:	91-421-2205036
E-Mail :	ssmgroup@airtailmail.in ssmgroup@gmail.com
Website :	www.sudhanyarn.com
Administrative Office/ Factory :	Kottaiyur, Agaram Village, Thadicombu, District Dindigul – 624709, Tamilnadu, India
Tel. No.:	91-451-2557001/02/ 2557332/ 532
Fax No.:	94-451-2557225/ 259
E-Mail :	ssmgroup@gmail.com ssmgroup@vsnl.com

DIRECTORS

AS ON 29.09.2014

Name :

Mr. Veluswamy Pallapalayam Sennimalai Gounder

Designation :

Managing Director

Address :

207, Mangalam Road, Karuvampalayam, Tirapur – 641604, Tamilnadu, India

Date of Birth/Age :

05.06.1935

Date of Appointment :

25.07.1980

PAN No.:

ABLPV6651Q

Voter ID No.:

GDR2736122

DIN No.:

01468617

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	U17111TZ1980PTC000935	SRI SHANMUGAVEL MILLS PRIVATE LIMITED	Managing director	01-04-2014	25-07-1980	-	Active	NO
2	U17111TZ1993PTC004480	PRABHU SPINNING MILLS PRIVATE LIMITED	Managing director	01-04-2014	11-10-1996	-	Active	NO
3	U17111TZ1998PTC008633	SRI MATHA SPINNING MILLS PRIVATE LIMITED	Director	02-11-1998	02-11-1998	-	Active	NO
4	U17111TZ1995PTC005944	ADISANKARA SPINNING MILLS PRIVATE LIMITED	Director	21-09-1999	21-09-1999	-	Active	NO
5	U17111TZ2001PTC009831	VEDHA SPINNING MILLS PRIVATE LIMITED	Director	17-07-2001	17-07-2001	-	Active	NO
6	U17111TZ1982PTC001195	SIVARAJ SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
7	U17111TZ1988PTC002240	SRI VELAYUDHASWAMY SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
8	U17111TZ1988PTC002135	SUDHAN SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
9	U17111TZ2006PTC012582	SHRI SIDDHI VINAYAGA TEX INDIA PRIVATE LIMITED	Director	15-02-2006	15-02-2006	20-11-2013	Active	NO
10	U17111TZ2006PTC012729	PRASSANNA SPINNING MILLS PRIVATE LIMITED	Director	24-04-2006	24-04-2006	29-11-2013	Active	NO
11	U17111TZ2007PTC013690	SRI SANKARI YARNS PRIVATE LIMITED	Director	04-05-2007	04-05-2007	20-11-2013	Active	NO
12	U29199TZ2007PTC014002	RENERGY EQUIPMENTS INDIA PRIVATE LIMITED	Director	17-11-2014	25-10-2007	-	Active	NO
13	U17291TZ2013PTC019897	SUDHAN TRADING PRIVATE LIMITED	Director	17-11-2014	27-09-2013	-	Active	NO

Name :

Mr. Chennimalaigounder Kandasamy

Designation :

Director

Address :

207, Mangalam Road, Karuvampalayam, Tirapur – 641604, Tamilnadu, India

Date of Birth/Age :

11.07.1943

Date of Appointment :

26.03.2004

PAN No.:

ABZPK8627R

Voter ID No.:

GDR2736114

DIN No.:

01575050

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	U17111TZ1982PTC001195	SIVARAJ SPINNING MILLS PRIVATE LIMITED	Managing director	01-04-2014	19-09-1996	-	Active	NO
2	U17111TZ1995PTC005944	ADISANKARA SPINNING MILLS PRIVATE LIMITED	Managing director	01-04-2014	29-09-1999	-	Active	NO
3	U17111TZ1980PTC000935	SRI SHANMUGAVEL MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
4	U17111TZ2001PTC009831	VEDHA SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
5	U17111TZ1998PTC008633	SRI MATHA SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
6	U17111TZ1993PTC004480	PRABHU SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
7	U17111TZ1988PTC002240	SRI VELAYUDHASWAMY SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
8	U17111TZ1988PTC002135	SUDHAN SPINNING MILLS PRIVATE LIMITED	Director	26-03-2004	26-03-2004	-	Active	NO
9	U17111TZ2006PTC012582	SHRI SIDDHI VINAYAGA TEX INDIA PRIVATE LIMITED	Director	15-02-2006	15-02-2006	20-11-2013	Active	NO
10	U17111TZ2006PTC012729	PRASSANNA SPINNING MILLS PRIVATE LIMITED	Director	24-04-2006	24-04-2006	29-11-2013	Active	NO
11	U17111TZ2007PTC013690	SRI SANKARI YARNS PRIVATE LIMITED	Director	04-05-2007	04-05-2007	20-11-2013	Active	NO
12	U29199TZ2007PTC014002	RENERGY EQUIPMENTS INDIA PRIVATE LIMITED	Director	25-10-2007	25-10-2007	-	Active	NO
13	U17291TZ2013PTC019897	SUDHAN TRADING PRIVATE LIMITED	Director	27-09-2013	27-09-2013	-	Active	NO

Name :

Mr. Kandaswamy Shanmugavel

Designation :

Whole time Director

Address :

207, Mangalam Road, Karuvampalayam, Tirapur – 641604, Tamilnadu, India

Date of Birth/Age :

04.03.1973

Date of Appointment :

01.04.2014

PAN No.:

ADQPS5922G

Voter ID No.:

GDR2736163

DIN No.:

00429940

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	U17111TZ1995PTC005944	ADISANKARA SPINNING MILLS PRIVATE LIMITED	Whole-time director	01-04-2014	27-09-1996	-	Active	NO
2	U17111TZ1988PTC002135	SUDHAN SPINNING MILLS PRIVATE LIMITED	Director	11-10-1999	11-10-1999	-	Active	NO
3	U17111TZ1980PTC000935	SRI SHANMUGAVEL MILLS PRIVATE LIMITED	Whole-time director	01-04-2014	11-10-1999	-	Active	NO
4	U17111TZ1988PTC002240	SRI VELAYUDHASWAMY SPINNING MILLS PRIVATE LIMITED	Director	07-09-2000	07-09-2000	-	Active	NO
5	U29199TZ2007PTC014002	RENERGY EQUIPMENTS INDIA PRIVATE LIMITED	Director	25-10-2007	25-10-2007	-	Active	NO

Name :

Mr. Sivakumar Shanthi

Designation :

Director

Address :

No.33, Town Extension 4^th Street, Tirapura – 641604, Tamilnadu, India

Date of Birth/Age :

05.05.1965

Date of Appointment :

01.04.2014

PAN No.:

ASUPS2306R

DIN No.:

02556376

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	U17111TZ1995PTC005944	ADISANKARA SPINNING MILLS PRIVATE LIMITED	Whole-time director	01-04-2014	27-09-1996	-	Active	NO
2	U17111TZ1988PTC002135	SUDHAN SPINNING MILLS PRIVATE LIMITED	Director	11-10-1999	11-10-1999	-	Active	NO
3	U17111TZ1980PTC000935	SRI SHANMUGAVEL MILLS PRIVATE LIMITED	Whole-time director	01-04-2014	11-10-1999	-	Active	NO
4	U17111TZ1988PTC002240	SRI VELAYUDHASWAMY SPINNING MILLS PRIVATE LIMITED	Director	07-09-2000	07-09-2000	-	Active	NO
5	U29199TZ2007PTC014002	RENERGY EQUIPMENTS INDIA PRIVATE LIMITED	Director	25-10-2007	25-10-2007	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Arogyaraj
Designation :	Export Department

MAJOR SHAREHOLDERS

AS ON 29.09.2014

Names of Shareholders	No. of Shares
P. S Veluswany	4500
C. Kandaswamy	4500
V. Dhanlakshmi	4500
K. Indira	4500
S. Shanthi	4000
R. Geetha	4000
R. Umamaheshwari	4000
S. Kavitha	4000
K. Shanmugavel	4500
K. Sivaraj	4500
J. Jayalakshmi	4000
S. Veena Abirami	1500
S. Gowthami	1500
Total	50000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Supplier of Cotton Yarn and Fabrics.

Products :

Item Code No.	Product Description
52052210	Cotton Yarn
60062100	Knitted Fabric
52051110	OE Yarn
62052000	Shirts
52091190	Woven Fabric

Brand Names :

Not Available

Agencies Held :

Not Available

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 :

Information declined by the management

Bankers :

· ABN Amro Bank N.V, No.16, G.G.Towers, Kumaran Road,, Tirupur - 641601, Tamil Nadu, India

Banker Name	State Bank Of India
Branch Address	Sme Branch, Nehruji Nagar, Dindigul - 624001, Tamil Nadu, 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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loans from banks	276.364	415.090
SHORT TERM BORROWING
Loans repayable on demand from banks	608.721	614.957
Total	885.085	1030.047

Auditors :
Name :	Ramanathan T R Chartered Accountants
Address :	'Bharathi Theertha Krupa' 343 B S Sundaram Road, Tirupur – 641601, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACSPR0567R
Memberships :	Not Available
Collaborators :	Not Available
Associate Concerns :	· Prabhu Spinning Mills Private Limited, India CIN No.: U17111TZ1993PTC004480 · Renergy Equipments India Private Limited, India CIN No.: U29199TZ2007PTC014002 · Sivaraj Spinning Mills Private Limited, India CIN No.: U17111TZ1982PTC001195 · Adisankara Spinning Mills Private Limited, India CIN No.: U17111TZ1995PTC005944 · Sri Velayudhaswamy Spinning Mills Private Limited, India CIN No.: U17111TZ1988PTC002240 · Vedha Spinning Mills Private Limited, India CIN No.: U17111TZ2001PTC009831

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 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	5.000	5.000	5.000
(b) Reserves & Surplus	1234.700	898.100	707.276
(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)	1239.700	903.100	712.276
(3) Non-Current Liabilities
(a) long-term borrowings	276.364	515.090	821.964
(b) Deferred tax liabilities (Net)	108.975	142.203	83.927
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	385.339	657.293	905.891
(4) Current Liabilities
(a) Short term borrowings	608.721	614.957	353.328
(b) Trade payables	117.717	73.279	34.728
(c) Other current liabilities	128.678	265.779	228.298
(d) Short-term provisions	13.849	12.472	8.304
Total Current Liabilities (4)	868.965	966.487	624.658
TOTAL	2494.004	2526.880	2242.825
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	938.657	950.062	1093.126
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7.993	5.904	7.283
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	37.784	73.692	81.391
(e) Other Non-current assets	0.015	0.015	0.015
Total Non-Current Assets	984.449	1029.673	1181.815
(2) Current assets
(a) Current investments	0.043	0.043	0.043
(b) Inventories	742.028	881.427	450.504
(c) Trade receivables	542.464	314.497	297.852
(d) Cash and cash equivalents	42.623	37.817	36.245
(e) Short-term loans and advances	175.853	259.366	273.184
(f) Other current assets	6.544	4.057	3.182
Total Current Assets	1509.555	1497.207	1061.010
TOTAL	2494.004	2526.880	2242.825

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	5021.000	3539.800	3542.900
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES	NA	NA	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	716.420	596.988	218.189
Less	FINANCIAL EXPENSES	127.069	162.815	180.115
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	589.351	434.173	38.074
Less/ Add	DEPRECIATION/ AMORTISATION	138.533	161.529	163.259
	PROFIT/ (LOSS) BEFORE TAX	450.818	272.644	(125.185)
Less	TAX	114.218	81.821	(17.361)
	PROFIT/ (LOSS) AFTER TAX	336.600	190.823	(107.824)
	Balance Carried to the B/S (J+K+L-M)	336.600	190.823	(107.824)
	Earnings / (Loss) Per Share (Rs.)	6732.000	3186.460	(2156.480)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	112.165	190.927	214.737
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	463.059	115.814	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	6.70	5.39	-3.04
Operating Profit Margin (PBIDT/Sales)	(%)	14.27	16.87	6.16
Return on Total Assets (PBT/Total Assets}	(%)	18.13	10.82	-5.60
Return on Investment (ROI) (PBT/Networth)		0.36	0.30	-0.18
Debt Equity Ratio (Total Debt /Networth)		0.80	1.46	1.95
Current Ratio (Current Asset/Current Liability)		1.74	1.55	1.70

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	5.000	5.000	5.000
Reserves & Surplus	707.276	898.100	1234.700
Net worth	712.276	903.100	1239.700
long-term borrowings	821.964	515.090	276.364
Short term borrowings	353.328	614.957	608.721
current maturities of long-term debts	214.737	190.927	112.165
Total borrowings	1390.029	1320.974	997.250
Debt/Equity ratio	1.952	1.463	0.804

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	5021.000	3539.800	3542.900
		(29.500)	0.088

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	5021.000	3539.800	3542.900
Profit	(107.824)	190.823	336.600
	(2.15%)	5.39%	9.50%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

HIGLIGHTS OF OPERATIONS

During FY 2013-14 net sales at Rs.5021.000 Million registered a buoyant growth of more than 40% on account of increased manufacturing activities. Operations during the year under consideration yielded satisfactory results leaving a net surplus of Rs.336.600 Million as against Rs.190.800 Million in the previous year. Enhanced capacity utilization in weaving unit coupled with expanded capacity in spinning unit enabled the company to register enhanced productivity over the previous year. Timely and strategic decision of the directors in accumulating substantial raw materials at competitive rates during peak cotton season at the end of previous financial year contributed for better operating results during 2013- 14. Wind power generation during the year under consideration was impacted due to grid problems; accordingly power generation was hit by more than 15%. In

In view of recent changes in textile trade in certain overseas markets coupled with sluggish demand in domestic

Markets also, the directors foresee a challenging year of FY 2014-15. To face any unforeseen economic slowdown and to minimize borrowings for containment of financial overhead, the directors wish to conserve available resources and hence no recommendation has been made for declaration of dividend for the year.

FINANCE:

During the year, their financial commitments to the bankers of the company have been promptly serviced without any default. Working capital limits sanctioned by the bankers were effectively utilized.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from related parties	0.000	100.000
Total	0.000	100.000

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10555820	20/03/2015	1,000,000,000.00	STATE BANK OF INDIA	SME BRANCH, NO.100,101, FIRST FLOOR, MUNICIPAL COLONY, NEHRUJI NAGAR, DINDIGUL, TAMIL NADU - 624001, INDIA	C47107545
2	10555810	06/03/2015	400,000,000.00	STATE BANK OF INDIA	SME BRANCH, NO.100,101, FIRST FLOOR, MUNICIPAL COLONY, NEHRUJI NAGAR, DINDIGUL, TAMIL NADU - 624001, INDIA	C47097324
3	90000116	07/01/1985 *	3,300,000.00	STATE INDUSTRIES PROMOTION CORPN. OF TAMILNADU LIM  ITED	NO. 51 & 52, GREAMS ROAD; THOUSAND LIGHTS, MADRAS  , TAMIL NADU - 600006, INDIA	-
4	90000100	20/03/1984	3,800,000.00	STATE INDUSTRIES PROMOTION CORPN. OF TAMIL NADU LI  MITED	51 & 52, GREAMS ROAD; THOUSAND LIGHTS, MADRAS, TAMILNADU - 624006, INDIA	-
5	90000097	23/01/1984	5,700,000.00	STATE INDUSTRIES PROMOTION CORPN. OF TAMIL NADU LI  MITED	51 & 52, GREAMS ROAD; THOUSAND LIGHTS, MADRAS, TAMILNADU - 624006, INDIA	-
6	90000050	25/03/1981	6,000,000.00	STATE INDUSTRIES PROMOTION CORPN. OF TAMIL NADU LIMITED	51 & 52, GREAMS ROAD, MADRAS, TAMIL NADU - 600006, INDIA	-
7	90000049	16/03/1981	2,000,000.00	STATE INDUSTRIES PROMOTION CORPORATION OF TAMILNADU LIMITED	51 & 52, GREAMS ROAD, MADRAS, TAMIL NADU - 600006, INDIA	-

* Date of charge modification

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Factory equipments

· Furniture and fixtures

· 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.63.93
UK Pound	1	Rs.99.82
Euro	1	Rs.70.05

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	TRI
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		53

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.