MIRA INFORM REPORT

Report No. :	335603
Report Date :	08.08.2015

IDENTIFICATION DETAILS

Name :	ALOK MASTER BATCHES PRIVATE LIMITED (w.e.f. 20.03.2014)
Formerly Known As :	ALOK MASTER BATCHES LIMITED
Registered Office :	C-65/1,Okhla Industrial Area, Phase-II, New Delhi-110020
Tel. No.:	91-11-41612244-47
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.02.1995
Com. Reg. No.:	55-065403
Capital Investment / Paid-up Capital :	Rs. 20.000 Million
CIN No.: [Company Identification No.]	U74899DL1995PTC065403
IEC No.:	0503082058
TAN No.: [Tax Deduction & Collection Account No.]	DELA14474F
PAN No.: [Permanent Account No.]	AAACA6143K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Color and Additive Master Batches.
No. of Employees :	Not Divulged

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 was incorporated in the year 1995 with the name of “Alok Master Batches Limited” and recently on 20^th March 2014, it got converted into private limited company with the name of “Alok Master Batches Private Iimited”. It is an established company having fair track. Rating takes into consideration sound financial risk profit of the company marked by adequate networth base and comfortable gearing in FY14. Company has reported increase in net profit in FY14. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments. The company can be considered for normal business dealings with 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	CRISIL
Rating	Long Term Rating=A-
Rating Explanation	Adequate degree of safety and low credit risk
Date	16.01.2015
Rating Agency Name	CRISIL
Rating	Short Term Rating =A2+
Rating Explanation	Strong degree of safety and low credit risk
Date	16.01.2015

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 DECLINED

MANAGEMENT NON-COOPERATIVE

(Contact No: 91-11-41612244-47)

LOCATIONS

Registered Office :	C-65/1,Okhla Industrial Area, Phase-II, New Delhi-110020, India
Tel. No.:	91-11-41612244-47
Fax No.:	91-11-41610333-34
E-Mail :	rajhargopal1@hotmail.com info@alokindustries.com
Website :	http://www.alokmasterbatches.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Krishan Lal Puri

Designation :

Director

Address :

C-508, Defence Colony, New Delhi-110024, Delhi, India

Date of Birth/Age :

13.11.1944

Date of Appointment :

14.02.1995

DIN No.:

00314363

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	U24239WB1974PTC029341	RAJDA SALES (CALCUTTA) PRIVATE LIMITED	Director	18-11-1976	18-11-1976	31-03-2009	ACTIVE	NO
2	U74899DL1979PTC009721	AMIT HIMANSHU PRIVATE LIMITED	Director	02-08-1989	02-08-1989	-	ACTIVE	NO
3	U74899DL1995PTC065403	ALOK MASTER BATCHES PRIVATE LIMITED	Director	14-02-1995	14-02-1995	-	ACTIVE	NO
4	L65910GJ1991PLC015044	TRANSPEK FINANCE LIMITED	Director	16-09-2003	16-09-2003	01-04-2014	ACTIVE	NO

Name :

Mr. Chandra Pal Singh Bhadauria

Designation :

Director

Address :

C-69, Defence Colony, New Delhi-110024, Delhi, India

Date of Birth/Age :

04.10.1945

Date of Appointment :

14.02.1995

PAN No.:

AAGPB2340G

DIN No.:

00226591

Other Directorship :

.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	U74899DL1995PTC065403	ALOK MASTER BATCHES PRIVATE LIMITED	Director	14-02-1995	14-02-1995	-	Active	NO
2	U00000DL1982PTC014707	ELCIME ENGINEERS PRIVATE LIMITED	Director	12-07-2002	12-07-2002	-	Active	NO
3	U65999DL2003PTC121127	TRUSTWELL INSURANCE CONSULTANTS AND BROKERS PRIVATE LIMITED	Director	05-07-2003	01-07-2003	-	Strike off	NO
4	U24241WB2006PLC134773	ALKOM SPECIALITY COMPOUNDS LIMITED	Director	19-01-2006	19-01-2006	01-06-2009	Amalgamated	NO

Name :

Mr. Krishan Pal Singh Bhadauria

Designation :

Whole-Time Director

Address :

446, Mandakini Enclave, Alaknanda, Kalkaji, New Delhi-110019, Delhi, India

Date of Birth/Age :

06.01.1942

Date of Appointment :

01.06.2008

PAN No.:

AADPB8065F

DIN No.:

00314154

Other Directorship :

.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	Company/ LLP Status	Defaulting status
1	U74899DL1995PTC065403	ALOK MASTER BATCHES PRIVATE LIMITED	Whole-time director	01-06-2008	14-02-1995	Active	NO

Name :

Mr. Amit Puri

Designation :

Whole-Time Director

Address :

C-508,, Defence Colony,, New Delhi- 110024, Delhi, India

Date of Birth/Age :

23.07.1975

Date of Appointment :

01.04.2010

PAN No.:

AADPP2158H

DIN No.:

00227149

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	U74899DL1987PTC027952	OKHLA PLASTICS PRIVATE LTD	Director	09-12-1996	09-12-1996	-	Active	NO
2	U74899DL1995PTC065403	ALOK MASTER BATCHES PRIVATE LIMITED	Whole-time director	01-04-2010	30-03-2002	-	Active	NO
3	U24241WB2006PLC134773	ALKOM SPECIALITY COMPOUNDS LIMITED	Director	19-01-2006	19-01-2006	29-05-2008	Amalgamated	NO

Name :

Mr. Vikram Singh Bhadauria

Designation :

Whole-Time Director

Address :

C-69,, Defence Colony,, New Delhi- 110024, Delhi, India

Date of Birth/Age :

22.01.1975

Date of Appointment :

01.04.2010

PAN No.:

AADPB7588D

DIN No.:

00227260

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	U74899DL1995PTC065403	ALOK MASTER BATCHES PRIVATE LIMITED	Whole-Time Director	01-04-2010	30-03-2002	-	Active	NO
2	U25200MH1955NPL009601	THE PLASTICS EXPORT PROMOTION COUNCIL	Director	30-03-2002	30-03-2002	29-09-2011	Active	NO
3	U00000DL1982PTC014707	ELCIME ENGINEERS PRIVATE LIMITED	Director	12-07-2002	12-07-2002	-	Active	NO
4	U24241WB2006PLC134773	ALKOM SPECIALITY COMPOUNDS LIMITED	Director	19-01-2006	19-01-2006	-	Amalgamated	NO

Name :

Mr. Aditya Singh Bhadauria

Designation :

Whole-Time Director

Address :

C-69, Defence Colony, New Delhi- 110024, Delhi, India

Date of Birth/Age :

06.06.1979

Date of Appointment :

01.04.2010

PAN No.:

AAMPB2612D

DIN No.:

00314881

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	U74899DL1995PTC065403	ALOK MASTER BATCHES PRIVATE LIMITED	Whole-time Director	01-04-2010	01-03-2005	-	Active	NO
2	U24241WB2006PLC134773	ALKOM SPECIALITY COMPOUNDS LIMITED	Additional Director	29-09-2007	03-10-2006	21-09-2009	Amalgamated	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Krishan Lal Puri	3990
Bhadauria Singh Chander Pal	150173
Bhadauria Singh Krishan Pal	10
Bhadauria Singh Meera	496960
Amit Puri	416010
Aditya Bhadauria Singh	200000
Vikram Singh Bhadauria	30000
Parul Puri	402857
Chander Pal Singh Bhadauria (HUF)	300000
Total	2000000

AS ON 30.09.2014

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

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Color and Additive Master Batches.

Products :

ITC Code No.	Product Descriptions
39059100	Masterbatches

Brand Names :

--

Agencies Held :

--

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	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 (Designation):	Not Divulged
Contact Number:	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 :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Indian Overseas Bank

14-15, Farm Bhawan, Nehru Place, New Delhi - 110019, Delhi, India

· HDFC Bank Limited

HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	43.508	0.000
SHORT TERM BORROWINGS
Rupee term loans from banks	132.550	0.000
Loans repayable on demand from banks	67.500	100.500
Total	243.558	100.500

Banking Relations :	--
Auditors :
Name :	Raj Har Gopal and Company Chartered Accountants
Address :	412 Ansal Bhawqan, Kasturba Gandhi Marg, New Delhi, India
Income-tax PAN of auditor or auditor's firm :	AAAFR6070R
Memberships :	--
Collaborators :	--
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Alok Industries · Airo Chemicals

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 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	20.000	20.000	20.000
(b) Reserves & Surplus	376.756	300.837	246.960
(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)	396.756	320.837	266.960
(3) Non-Current Liabilities
(a) Long-term borrowings	275.546	111.369	95.048
(b) Deferred tax liabilities (Net)	6.344	4.489	4.559
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.382	2.055	1.423
Total Non-current Liabilities (3)	284.272	117.913	101.030
(4) Current Liabilities
(a) Short term borrowings	200.050	100.500	21.104
(b) Trade payables	105.526	93.974	131.085
(c) Other current liabilities	27.295	10.206	8.215
(d) Short-term provisions	14.154	9.865	6.664
Total Current Liabilities (4)	347.025	214.545	167.068
TOTAL	1028.053	653.295	535.058
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	193.194	112.050	105.969
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	1.362	15.220	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	4.957	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	51.010	10.033	3.580
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	250.523	137.303	109.549
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	212.785	138.921	143.950
(c) Trade receivables	500.106	344.321	262.167
(d) Cash and cash equivalents	8.358	14.970	2.726
(e) Short-term loans and advances	56.281	17.603	16.505
(f) Other current assets	0.000	0.177	0.161
Total Current Assets	777.530	515.992	425.509
TOTAL	1028.053	653.295	535.058

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1783.109	1384.294	970.468
		Other Income	4.746	0.371	0.241
		TOTAL (A)	1787.855	1384.665	970.709
Less	EXPENSES
		Cost of Materials Consumed		1112.514	769.904
		Purchases of Stock-in-Trade		0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		(3.576)	(16.977)
		Employees benefits expense		42.234	26.397
		Other expenses		115.563	109.163
		Prior Period Items		0.037	0.016
		TOTAL (B)	1607.634	1266.772	888.503
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		180.221	117.893	82.206
Less	FINANCIAL EXPENSES (D)		43.574	22.044	13.254
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		136.647	95.849	68.952
Less/ Add	DEPRECIATION/ AMORTISATION (F)		20.007	15.330	14.982
	PROFIT BEFORE TAX (E-F) (G)		116.640	80.519	53.970
Less	TAX (H)		40.721	26.642	17.752
	PROFIT AFTER TAX (G-H) (I)		75.919	53.877	36.218
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	249.953	203.723	137.979
	TOTAL EARNINGS		249.953	203.723	137.979
	IMPORTS
		Raw Materials	523.696	339.111	264.923
		Capital Goods	5.381	6.313	4.352
	TOTAL IMPORTS		529.077	345.424	269.275
	Earnings Per Share (Rs.)		37.96	26.94	18.11

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.000	0.000	0.000
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from (used in) Operations	42.714	85.807	6.383

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	4.26	3.89	3.73
Operating Profit Margin (PBDIT/Sales)	(%)	10.11	8.52	8.47
Return on Total Assets (PBT/Total Assets}	(%)	11.42	12.62	10.09
Return on Investment (ROI) (PBT/Networth)		0.29	0.25	0.20
Debt Equity Ratio (Total Liability/Networth)		1.20	0.66	0.44
Current Ratio (Current Asset/Current Liability)		2.24	2.41	2.55

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	20.000	20.000	20.000
Reserves & Surplus	246.960	300.837	376.756
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	266.960	320.837	396.756
Long-term borrowings	95.048	111.369	275.546
Short term borrowings	21.104	100.500	200.050
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	0.000
Total borrowings	116.152	211.869	475.596
Debt/Equity ratio	0.435	0.660	1.199

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	970.468	1384.294	1783.109
		42.642	28.810

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	970.468	1384.294	1783.109
Profit	36.218	53.877	75.919
	3.73%	3.89%	4.26%

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	No
8	Designation of contact person	No
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)	No
16	No. of employees	No
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 three 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	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10465620	05/06/2014 *	70,500,000.00	INDIAN OVERSEAS BANK	14-15, FARM BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	C09087727
2	10309732	05/06/2014 *	304,000,000.00	INDIAN OVERSEAS BANK	14-15, FARM BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	C09087602

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Loans and advances from related parties	232.038	111.369
Total	232.038	111.369

COMPANY'S PERFORMANCE:

During the year, the company has achieved operational and other Income of Rs 1792.795 Million, as against operational and other Income of Rs. 1384.668 Million during the previous year. The profit after providing for taxes is Rs. 75.919 Million as against profit of Rs. 53.877 Million during previous year.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Other 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 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. 63.81
UK Pound	1	Rs. 98.93
Euro	1	Rs. 69.66

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KIN
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	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	--

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