MIRA INFORM REPORT

Report No. :	335042
Report Date :	06.08.2015

IDENTIFICATION DETAILS

Name :	SEL TEXTILES LIMITED (W.E.F. 08.10.2009)
Formerly Known As :	SEL TEXTILES PRIVATE LIMITED (W.E.F 03.04.2009) JUPITER DRAPES & CUTS APPARELS PRIVATE LIMITED
Registered Office :	274, Dhandari Khurd, G.T. Road, Ludhiana - 141014, Punjab
Tel. No.:	91-161-6611111
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.07.2008
Com. Reg. No.:	16-032050
Capital Investment / Paid-up Capital :	Rs. 1270.572 Million
CIN No.: [Company Identification No.]	U17299PB2008PLC032050
IEC No.:	3009005661
TAN No.: [Tax Deduction & Collection Account No.]	JLDS07468G
PAN No.: [Permanent Account No.]	AANCS0401M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Yarn And Also Processing of Fabrics And Terry Towel
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	SEL TEXTILES LTD (STL) was incorporated in 2008 by the “SEL” group for pursuing inorganic growth in the textile sector. It is established company having a satisfactory track record. The ratings of STL draw support from diversified range of products, healthy growth in operating income, vast experience of the promoters, strong capital structure and moderate debt protection metrics. However, the ratings are constrained company reported loss in the FY 14 due to working capital intensive nature of operations and volatility in the raw material prices. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. In view of experiences promoters group, the company can be considered good for normal business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Rajneesh Thakur
Designation :	Company Secretary
Contact No.:	91-161-6611111
Date :	03.08.2015

LOCATIONS

Registered Office :	274, Dhandari Khurd, G.T. Road, Ludhiana - 141014, Punjab, India
Tel. No.:	91-161-6611111
Fax No.:	91-161-6611112
E-Mail :	cs@selindia.in ipo@selindia.in ipo@rssalujagroup.co.in sjindal@sellindia.in sjindal@selindia.in info@selindia.in
Website :	http://www.selindia.in
Location :	Owned
Locality :	Commercial
Factory 1 :	23Km. Stone, Delhi-Hisar Highway, Hisar – 125033, Haryana, India
Tel. No.:	91-1663-256527 / 28 / 29
Factory 2 :	15-B, Rig of Industrial Area, Alwar – 301705 Rajasthan, India

DIRECTORS

AS ON 11.09.2014

Name :

Mr. Ram Saran Saluja

Designation :

Managing director

Address :

9-C, Sarabha Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

06.02.1943

Qualification:

Bachelor of Arts

Date of Appointment :

08.10.2012

PAN No.

ADNPS1484N

DIN No.:

01145051

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	U17115PB2002PTC025227	SHIV NARAYAN INVESTMENTS PRIVATE LIMITED	Director	30-03-2006	30-03-2006	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Director	24-04-2006	24-04-2006	-	Active	NO
3	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Managing director	08-10-2012	01-07-2008	-	Active	NO
4	U55101PB1987PLC037859	OMEGA HOTELS LIMITED	Director	23-08-2011	30-10-2010	-	Active	NO
5	U45201PB2008PTC031579	SHUDDHI DEVELOPERS PRIVATE LIMITED	Director	05-09-2011	27-11-2010	09-10-2013	Active	NO
6	U93000PB2008PTC031580	SEL AVIATION PRIVATE LIMITED	Director	11-07-2011	27-11-2010	-	Active	NO
7	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	01-06-2011	09-02-2011	-	Active	NO
8	U15122DL2003PTC121095	SEL ECOCHEM PRIVATE LIMITED	Director	18-07-2011	13-07-2011	29-03-2014	Active	NO
9	U40102PB2011PLC035763	SEL RENEWABLE POWER LIMITED	Director	14-08-2013	19-12-2011	-	Active	NO
10	U65999HR2012PLC045962	SIDHIVINAYAK FINANCIAL SERVICES LIMITED	Director	16-05-2012	16-05-2012	-	Active	NO

Name :

Mr. Neeraj Saluja

Designation :

Director

Address :

9-C, Sarabha Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

06.03.1967

Qualification:

Diploma in Business Administration

Date of Appointment :

02.09.2011

PAN No.

AEHPS4478K

DIN No.:

00871939

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	U17115PB2002PTC025227	SHIV NARAYAN INVESTMENTS PRIVATE LIMITED	Director	30-03-2006	30-03-2006	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Managing director	26-05-2015	30-03-2006	-	Active	NO
3	U45201PB2008PTC031579	SHUDDHI DEVELOPERS PRIVATE LIMITED	Director	11-01-2008	11-01-2008	09-10-2013	Active	NO
4	U93000PB2008PTC031580	SEL AVIATION PRIVATE LIMITED	Director	11-01-2008	11-01-2008	-	Active	NO
5	U45208PB2008PLC031841	RYTHM TEXTILE AND APPARELS PARK LIMITED	Director	16-04-2008	16-04-2008	-	Active	NO
6	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	02-09-2011	07-05-2009	-	Active	NO
7	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	30-09-2010	15-03-2010	-	Active	NO
8	U55101PB1987PLC037859	OMEGA HOTELS LIMITED	Director	23-08-2011	30-10-2010	-	Active	NO
9	U17119PB2010PTC034482	AHUJA COTSPIN PRIVATE LIMITED	Director	16-12-2010	16-12-2010	28-06-2013	Active	NO
10	U91900PB2011NPL034564	YOUNG PRESIDENT'S ORGANISATION (PUNJAB CHAPTER)	Director	05-01-2011	05-01-2011	-	Active	NO
11	U15122DL2003PTC121095	SEL ECOCHEM PRIVATE LIMITED	Director	18-07-2011	13-07-2011	29-03-2014	Active	NO
12	U40102PB2011PLC035763	SEL RENEWABLE POWER LIMITED	Director	14-08-2013	19-12-2011	-	Active	NO
13	U65999HR2012PLC045962	SIDHIVINAYAK FINANCIAL SERVICES LIMITED	Director	16-05-2012	16-05-2012	-	Active	NO

Name :

Mr. Dhiraj Saluja

Designation :

Director

Address :

9-C, Sarabha Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

03.08.1972

Qualification:

Degree in Mechanical Engineering

Date of Appointment :

01.07.2008

PAN No.

ANVPS4752R

DIN No.:

01144870

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	U17115PB2002PTC025227	SHIV NARAYAN INVESTMENTS PRIVATE LIMITED	Director	28-06-2002	28-06-2002	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Managing director	28-05-2013	28-05-2007	-	Active	NO
3	U45201PB2008PTC031579	SHUDDHI DEVELOPERS PRIVATE LIMITED	Director	11-01-2008	11-01-2008	09-10-2013	Active	NO
4	U93000PB2008PTC031580	SEL AVIATION PRIVATE LIMITED	Director	11-01-2008	11-01-2008	-	Active	NO
5	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	01-07-2008	01-07-2008	-	Active	NO
6	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	05-09-2008	05-09-2008	-	Active	NO
7	U55101PB1987PLC037859	OMEGA HOTELS LIMITED	Director	23-08-2011	30-10-2010	-	Active	NO
8	U15122DL2003PTC121095	SEL ECOCHEM PRIVATE LIMITED	Director	18-07-2011	13-07-2011	29-03-2014	Active	NO
9	U40102PB2011PLC035763	SEL RENEWABLE POWER LIMITED	Director	19-12-2011	19-12-2011	-	Active	NO

Name :

Mr. Navneet Gupta

Designation :

Director

Address :

193-D, U/E PH-I, Focal Point, Ludhiana – 141010, Punjab, India

Date of Birth/Age :

11.11.1969

Date of Appointment :

02.09.2011

PAN No.

AGKPG5197J

DIN No.:

02122420

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	U45208PB2008PLC031841	RYTHM TEXTILE AND APPARELS PARK LIMITED	Director	16-04-2008	16-04-2008	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Whole-time director	08-05-2014	08-05-2008	-	Active	NO
3	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	05-09-2008	05-09-2008	-	Active	NO
4	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	02-09-2011	07-05-2009	-	Active	NO

Name :

Mr. Ashwani Kumar

Designation :

Director

Address :

19-A, Udham Singh Nagar, Civil Lines, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

14.07.1955

Date of Appointment :

16.06.2010

DIN No.:

00030307

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	U65999DL1984PLC019607	DANDM COMPONENTS LIMITED	Director	23-03-1985	23-03-1985	-	Active	NO
2	U74899DL1991PTC043092	GLOBE TROTTERS PRIVATE LIMITED	Director	13-02-1991	13-02-1991	-	Active	NO
3	L74899DL1984PLC019492	VARDHMAN INDUSTRIES LIMITED	Director	30-09-2014	05-07-1993	-	Active	NO
4	L99999PB1973PLC003385	GARG FURNACE LIMITED	Director	02-09-1996	02-09-1996	04-05-2011	Active	NO
5	L15490PB1992PLC012662	PRIME INDUSTRIES LIMITED	Director	30-09-2014	21-12-1996	-	Active	NO
6	U67120CH2000PLC023244	L S E SECURITIES LIMITED	Director	06-10-2004	06-10-2004	19-07-2007	Active	NO
7	L65991PB1985PLC006414	MASTER TRUST LIMITED	Director	26-09-2014	31-12-2005	-	Active	NO
8	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Director	30-09-2014	24-04-2006	-	Active	NO
9	U74899DL1986PTC025068	UNIQUE HOLDINGS PRIVATE LIMITED	Director	11-08-2006	11-08-2006	-	Strike off	NO
10	U18101PB1993PLC013745	SHIVA TEXFABS LIMITED	Director	01-09-2006	01-09-2006	10-03-2012	Active	NO
11	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	16-06-2010	25-11-2009	-	Active	NO
12	U67120PB1981PLC004696	LUDHIANA STOCK AND CAPITAL LIMITED	Director	10-12-2009	10-12-2009	09-01-2015	Active	NO
13	L74899DL1983PLC014942	BHUSHAN STEEL LIMITED	Additional director	20-09-2014	20-09-2014	-	Active	NO
14	U74899DL2000PLC107621	IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED	Director	07-04-2015	07-04-2015	-	Active	NO

Name :

Mr. Sandeep Gupta

Designation :

Director

Address :

H No 590, Sector B, Agar Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

19.06.1967

Date of Appointment :

16.06.2010

DIN No.:

00844408

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	U17117PB1989PTC009016	SHREE NATH SYNCOT (INDIA) PRIVATE LIMITED	Director	14-04-1995	14-04-1995	-	Active	NO
2	U51490PB2004PTC027287	SYNTAX POLYFIBRES PRIVATE LIMITED	Director	08-07-2004	08-07-2004	-	Active	NO
3	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	16-06-2010	13-02-2010	-	Active	NO
4	U17200PB1985PTC006564	GAL COTTEX PRIVATE LIMITED	Director	29-09-2011	05-01-2011	-	Active	NO

Name :

Mr. Abhay Ahuja

Designation :

Director

Address :

C/O Ganga Knitwear 803/1, Bindraban road, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

08.08.1996

Date of Appointment :

11.09.2014

DIN No.:

01952216

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	U18101DL1995PTC189720	GANGA KNIT PRIVATE LIMITED	Director	01-04-2005	01-04-2005	31-03-2014	Active	NO
2	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	11-09-2014	14-02-2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajneesh Thakur
Designation :	Secretary
Address :	House No. 212/27/949, Street No. 24, Ambedkar Nagar, Giaspura, Ludhiana – 141014, Punjab, India
Date of Birth/Age :	25.02.1985
Date of Appointment :	01.05.2013
PAN No:	ARBPT7449Q

MAJOR SHAREHOLDERS

AS ON 11.09.2014

Names of Shareholders	No. of Shares
Ram Saran Saluja (Nominee of SEL Manufacturing Company Limited, India)	1
Dhiraj Saluja (Nominee of SEL Manufacturing Company Limited, India)	1
Sneh Lata Saluja (Nominee of SEL Manufacturing Company Limited, India)	1
SEL Manufacturing Company Limited, India	127057194
Neeraj Saluja (Nominee of SEL Manufacturing Company Limited, India)	1
Ritu Saluja (Nominee of SEL Manufacturing Company Limited, India)	1
Reema Saluja (Nominee of SEL Manufacturing Company Limited, India)	1
Total	127057200

Equity Share Break up (Percentage of Total Equity)

AS ON 11.09.2014

Category	Percentage
Bodies corporate	99.99
Directors or relatives of Directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Yarn And Also Processing of Fabrics And Terry Towel

Products :

Item Code No.	Product Description
52052310	Yarn
60011020	Knitted Cloth

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

· USA

· Dubai

· Russia

Imports :

Not Divulged

Terms :

Selling :

Cash, L/C and Credit (30, 60,90 Days)

Purchasing :

Cash, L/C and Credit (30, 60,90 Days)

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 :

End Users and OEMs

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 :

1000 (Approximately)

Bankers :

Banker Name	Central Bank Of India
Branch Address	C-14 Focal Point, Ludhiana - 141010, Punjab, 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 [Hypothecation of Movable and Immovable Property]	7527.670	7558.171
Loans and advances from related parties	276.100	0.000
SHORT TERM BORROWING
Loans repayable on demand	3994.791	3063.754
Total	11798.561	10621.925

Auditors :
Name :	Dass Khanna and Company Chartered Accountants
Address :	B-XXX-2815, Gurden Nagar, Pakhowal Road, Ludhiana - 141001, Punjab, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFD5151G
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	SEL Manufacturing Company Limited, India [L51909PB2000PLC023679]
Subsidiary Company :	· Silverline Corporation Limited [U17200PB2008PLC032259] · SEL Textiles Overseas Limited
Enterprises over which key management personnel and relatives of such personnel are able to exercise significant influence :	· Shiv Narayan Investments Private Limited, India [U17115PB2002PTC025227] · Saluja International · Saluja Fabrics · SEL Aviation Private Limited, India [U93000PB2008PTC031580]

CAPITAL STRUCTURE

AS ON 11.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
150000000	Equity Shares	Rs.10/- each	Rs.1500.000 Million
50000000	Preference Shares	Rs.10/- each	Rs. 500.000 Million
	Total		Rs. 2000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
127057200	Equity Shares	Rs.10/- each	Rs.1270.572 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	1270.572	1270.572	364.300
(b) Reserves & Surplus	4037.214	4467.496	1208.614
(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)	5307.786	5738.068	1572.914
(3) Non-Current Liabilities
(a) long-term borrowings	7809.096	7569.178	5222.006
(b) Deferred tax liabilities (Net)	0.000	138.135	43.275
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	10.860	2.274	1.581
Total Non-current Liabilities (3)	7819.956	7709.587	5266.862
(4) Current Liabilities
(a) Short term borrowings	3394.791	3063.754	1824.656
(b) Trade payables	553.483	533.695	169.200
(c) Other current liabilities	2911.686	1135.341	163.670
(d) Short-term provisions	0.469	91.886	49.558
Total Current Liabilities (4)	6860.429	4824.676	2207.084
TOTAL	19988.171	18272.331	9046.860
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7311.405	5410.417	1230.944
(ii) Intangible Assets	4.324	5.476	6.629
(iii) Capital work-in-progress	3040.274	1891.026	2047.315
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	813.494	1087.992	1080.530
(c) Deferred tax assets (net)	74.321	0.000	0.000
(d) Long-term Loan and Advances	2510.213	1891.819	1850.915
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	13754.031	10286.730	6216.333
(2) Current assets
(a) Current investments	216.100	0.000	0.000
(b) Inventories	2153.601	1141.189	1512.595
(c) Trade receivables	2839.641	4810.897	867.295
(d) Cash and cash equivalents	62.282	1082.603	115.831
(e) Short-term loans and advances	962.516	950.912	334.806
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	6234.140	7985.601	2830.527
TOTAL	19988.171	18272.331	9046.860

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	9500.229	8668.978	4498.708
	Other Income	381.691	287.609	148.139
	TOTAL (A)	9881.920	8956.587	4646.847
Less	EXPENSES
	Cost of Materials Consumed	8387.256	6200.354	4132.948
	Purchases of Stock-in-Trade	670.494	812.779	526.879
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2038.797)	(162.755)	(799.012)
	Employees benefits expense	234.362	141.286	81.655
	Exceptional Items	721.428	0.000	0.000
	Other expenses	796.969	454.522	315.126
	TOTAL (B)	8771.712	7446.186	4257.596
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1110.208	1510.401	389.251
Less	FINANCIAL EXPENSES (D)	1198.652	782.245	135.070
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(88.444)	728.156	254.181
Less/ Add	DEPRECIATION/ AMORTISATION (F)	536.629	271.133	53.601
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(625.073)	457.023	200.580
Less	TAX (H)	(194.790)	98.211	65.352
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(430.283)	358.812	135.228
	Earnings / (Loss) Per Share (Rs.)	(3.39)	6.85	4.15

Particulars	31.03.2015
Sales Turnover (Approximately)	10000.000

The above information has been parted by Mr. Rajneesh Thakur (Company Secretary).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	2050.255	705.265	101.223
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	3632.174	(1261.556)	(1118.628)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(4.53)	4.14	3.01
Operating Profit Margin (PBIDT/Sales)	(%)	11.69	17.42	8.65
Return on Total Assets (PBT/Total Assets}	(%)	(3.89)	2.99	3.39
Return on Investment (ROI) (PBT/Networth)		(0.12)	0.08	0.13
Debt Equity Ratio (Total Debt /Networth)		2.50	1.98	4.54
Current Ratio (Current Asset/Current Liability)		0.91	1.66	1.28

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	364.300	1270.572	1270.572
Reserves & Surplus	1208.614	4467.496	4037.214
Net worth	1572.914	5738.068	5307.786
long-term borrowings	5222.006	7569.178	7809.096
Short term borrowings	1824.656	3063.754	3394.791
Current maturities of long-term debts	101.223	705.265	2050.255
Total borrowings	7147.885	11338.197	13254.142
Debt/Equity ratio	4.544	1.976	2.497

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	4498.708	8668.978	9500.229
		92.699	9.589

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	4498.708	8668.978	9500.229
Profit/ (Loss)	135.228	358.812	(430.283)
	3.01%	4.14%	(4.53%)

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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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 four years	Yes
27	Reasons for variation <> 20%	--
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from Plot No. 274, G.T. Road, Dhandari Khurd

Ludhiana – 141010, Punjab India to the present address w.e.f.11.08.2011

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Other loans and advances	5.326	11.006
Total	5.326	11.006

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10552310	04/02/2015	20,132,600,000.00	CENTRAL BANK OF INDIA	MID CORPORATE BRANCH, 369, R.K ROAD, INDUSTRIAL AREA A, LUDHIANA, PUNJAB - 141003, INDIA	C45182409
2	10530372	30/09/2014	4,733,100,000.00	CENTRAL BANK OF INDIA	MID CORPORATE BRANCH, 369 R K ROAD, LUDHIANA, PUNJAB - 141003, INDIA	C33078049
3	10526780	29/09/2014	2,626,200,000.00	PUNJAB NATIONAL BANK	LARGE CORPORATE BRANCH, BHAGWATI TOWRES, R.K. ROAD, CHEEMA CHOWK, LUDHIANA, PUNJAB - 141001, INDIA	C30373856
4	10510186	30/06/2014	35,000,000.00	CORPORATION BANK	PREMISES NO. 5, NEW LAJPAT NAGAR, LUDHIANA, PUNJAB  - 141001, INDIA	C12130894
5	10493565	31/03/2014	630,400,000.00	UNION BANK OF INDIA	G.T ROAD BRANCH, LUDHIANA, PUNJAB - 141003, INDIA	C04338307
6	10330477	04/05/2012 *	3,040,000,000.00	CENTRAL BANK OF INDIA	C-14 FOCAL POINT, LUDHIANA, PUNJAB - 141010, INDIA	B42335075
7	10330472	30/12/2011	490,000,000.00	CENTRAL BANK OF INDIA	C-14, FOCAL POINT, LUDHIANA, PUNJAB - 141010, INDIA	B30115299
8	10316480	30/03/2013 *	7,000,000,000.00	ALLAHABAD BANK	165, INDUSTRIAL AREA 'A', NEAR CHEEMA CHOWK, LUDH  IANA, PUNJAB - 141003, INDIA	B75545137
9	10295187	18/06/2011	2,300,000,000.00	CENTRAL BANK OF INDIA	FOCAL POINT, LUDHIANA, PUNJAB - 141010, INDIA	B16198103
10	10185875	15/12/2011 *	2,671,500,000.00	CENTRAL BANK OF INDIA	C-14, FOCAL POINT, LUDHIANA, PUNJAB - 141010, INDIA	B30119614

* Date of charge modification

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Factory equipments

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

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.63.96
UK Pound	1	Rs.99.93
Euro	1	Rs.70.16

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAS
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--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		44

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.