MIRA INFORM REPORT

Report No. :	350713
Report Date :	01.12.2015

IDENTIFICATION DETAILS

Name :	ANSAPACK PRIVATE LIMITED (w.e.f. 26.02.2011)
Formerly Known As :	ANSA PRINTPACK PRIVATE LIMITED
Registered Office :	The Simplex Mills Compound,1^st Floor, 30, K. K. Marg, Sant Gadge Maharaj Chowk, Mahalaxmi (East), Mumbai - 400011, Maharashtra
Tel. No.:	91-23020260
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.12.1994
Com. Reg. No.:	11-084095
Capital Investment / Paid-up Capital :	Rs.40.229 Million
CIN No.: [Company Identification No.]	U21000MH1994PTC084095
IEC No.:	0303041676
TAN No.: [Tax Deduction & Collection Account No.]	MUMA21835C
PAN No.: [Permanent Account No.]	AAACA4849G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Packaging Materials. [Confirmed by management]
No. of Employees :	125 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1000000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. It was incorporated in the year 1994 and is involved in manufacturing, exporting and Importing of packaging materials. As per financial of the year 2014, company possess decent operational profile with increase in its net revenue but has reported a slight dip in its net profitability. However, rating takes into consideration company’s acceptable financial risk profile supported by its adequate networth base, comfortable liquidity position and fair debt protection indicators. Rating also derives strength from its established track record of operations and extensive of the promoters in packaging industry. Trade relations are reported as fair. Business is active. Payment terms are reported as usually correct. In view of aforesaid, 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	CARE
Rating	Long Term Bank Facilities = BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	25 August, 2014

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	25 August, 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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Dhiraj Sharma
Designation :	Assistant Manager
Contact No.:	91-22-23020260
Date :	21.11.2015

LOCATIONS

Registered Office / Corporate Office / Branch Office :	The Simplex Mills Compound,1^st Floor, 30, K. K. Marg, Sant Gadge Maharaj Chowk, Mahalaxmi (East), Mumbai - 400011, Maharashtra, India
Tel. No.:	91-22-23020260 / 23020253
Mobile No.:	91-9867020252 (Mr. Dhiraj Sharma)
Fax No.:	91-22-23006409 / 23006405
E-Mail :	dhirajsharma@ansapack.com nkaniyalan@ansapack.com
Website :	http://www.ansapack.com
Area :	1500 Sq. Ft.
Location :	Rented
Factory 1 :	12, Industrial Estate, Opposite Swastik Oil Mill, Ambernath, Thane - 421501, Maharashtra, India
Tel. No.:	91-251-2684092
Area :	25000 Sq. Ft.
Location :	Owned
Factory 2 :	Block No. 52m Mouje Kunvada, Taluka-Mangrol, District Surat, Gujarat, India
Area :	50000 Sq. Ft.
Location :	Owned
Factory 3 :	Plot No 15/16/21, MIDC, Ambernath (West), Thane – 421501, Maharashtra, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Arvind Premnath Agarwal

Designation :

Director

Address :

6/1, Mitra Kunj, 16-A, Pedder Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

06.01.1955

Qualification :

B. Sc

Date of Appointment :

28.12.1994

PAN No.:

AAGPA0124R

DIN No.

00391757

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	U51900MH1982PTC027754	ANSA PACKAGING PRODUCTS PRIVATE LIMITED	Director	22/07/1988	22/07/1988	-	Amalgamated	NO
2	U17110MH1985PTC038080	PIRAMAL TEXTURISING PRIVATE LIMITED	Director	04/11/1993	04/11/1993	12/12/2014	Active	NO
3	U99999MH1989PTC053602	VULCAN INVESTMENTS PRIVATE LIMITED	Director	04/11/1993	04/11/1993	12/12/2014	Active	NO
4	U67120MH1994PTC078488	ECOFRIENDLY CORPACK PRIVATE LIMITED	Director	19/05/1994	19/05/1994	-	Active	NO
5	U65990MH1994PTC078489	KUNVARDA INVESTMENTS PRIVATE LIMITED	Director	19/05/1994	19/05/1994	-	Amalgamated	NO
6	U65990MH1994PTC078527	ADITYA AGARWAL INVESTMENTS (BOMBAY) PRIVATE LIMITED	Director	20/05/1994	20/05/1994	-	Active	NO
7	U99999MH1994PLC083006	SHREELEKHA GLOBAL FINANCE LIMITED	Director	16/11/1994	16/11/1994	-	Active	NO
8	U21000MH1994PTC084095	ANSAPACK PRIVATE LIMITED	Director	28/12/1994	28/12/1994	-	Active	NO
9	U67120MH1996PTC098787	NIFTY HOLDINGS PRIVATE LIMITED	Director	10/04/1996	10/04/1996	-	Active	NO
10	U67120MH1996PTC098788	EMBLEM HOLDINGS PRIVATE LIMITED	Director	10/04/1996	10/04/1996	-	Active	NO
11	U67120MH1996PTC098818	GAIETY HOLDINGS PRIVATE LIMITED	Director	11/04/1996	11/04/1996	-	Active	NO
12	U65990MH1976PTC019033	SAVOY FINANCE AND INVESTMENT PRIVATE LIMITED	Director	20/11/2001	20/11/2001	-	Amalgamated	NO
13	U26109MH2002PTC137008	ANSA DECOGLASS PRIVATE LIMITED	Director	28/08/2002	28/08/2002	-	Active	NO
14	U45203MH2007PTC171591	NARIMAN INFRASTRUCTURE PRIVATE LIMITED	Director	26/06/2007	26/06/2007	02/07/2007	Converted to LLP and dissolved	NO
15	U52599MH2007PTC167646	AIKONE MARKETING AND MANAGEMENT SERVICES PRIVATE LIMITED	Director	31/10/2007	01/10/2007	-	Amalgamated	NO
16	U25193MH2008PTC185876	ANSA FLEXIPACK PRIVATE LIMITED	Director	18/08/2008	18/08/2008	-	Strike off	NO
17	U36990MH2010PTC211118	BIG SKY TRADING PRIVATE LIMITED	Director	04/02/2011	04/02/2011	-	Strike off	NO
18	U36912MH2011PTC221397	KOSAMBA GLASS DECO PRIVATE LIMITED	Director	29/08/2011	29/08/2011	-	Active	NO
19	U70109MH2011PTC221461	INNOVADOR REALTORS PRIVATE LIMITED	Director	30/08/2011	30/08/2011	23/01/2014	Active	NO
20	U70102MH2011PTC222127	DEVOTION REALTORS PRIVATE LIMITED	Director	28/03/2013	28/03/2013	-	Strike off	NO
21	U70109MH2011PTC220422	GERAH DEVELOPERS PRIVATE LIMITED	Additional director	01/09/2014	01/09/2014	-	Active	NO

Name :

Mr. Anil Gopal Sharma

Designation :

Director

Address :

A-7, Parekh Apartments, Raheja Towership, Malad (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

13.11.1958

Qualification :

Graduate

Date of Appointment :

15.12.2003

DIN No.

01096010

Name :

Mr. Gautam Arvind Agarwal

Designation :

Director

Address :

6/1, Mitra Kunj, 16/A, Peddar Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

21.12.1987

Date of Appointment :

15.06.2010

PAN No.:

AINPA0315M

DIN No.

03123911

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	U51900MH1982PTC027754	ANSA PACKAGING PRODUCTS PRIVATE LIMITED	Director	15/06/2010	15/06/2010	-	Amalgamated	NO
2	U67120MH1994PTC078488	ECOFRIENDLY CORPACK PRIVATE LIMITED	Director	15/06/2010	15/06/2010	-	Active	NO
3	U21000MH1994PTC084095	ANSAPACK PRIVATE LIMITED	Director	15/06/2010	15/06/2010	-	Active	NO

Name :

Mr. Aditya Arvind Agarwal

Designation :

Director

Address :

6/1, Mitra Kunj, 16/A, Peddar Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

19.10.1990

Date of Appointment :

24.05.2013

PAN No.:

AIKPA7891F

DIN No.

06611039

KEY EXECUTIVES

Name :	Mr. Dhiraj Sharma
Designation :	Assistant Manager

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Arvind P. Agarwal	490416
Premnath Agarwal	1020
Nifty Holding Private Limited	674424
Galety Holding Private Limited	546924
Piramal Corporate Service Limited	907953
Sai Darshan Business Centre Private Limited	164424
Emblem Holding Private Limited	546924
Premanth B Agarwal	326400
Rachna Agarwal	25500
Janak P. Agarwal	19380
Aditya Agarwal Investments (Bombay)	36924
Alpex Holdings Private Limited	59058
Alpex Power Private Limited	59058
VKT Venture LLP	51
Shivani Vishal Jatia	164424
Total	4022880

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	74.47
Directors or relatives of Directors	21.44
Other top fifty shareholders	4.09
Total	100.00

AS ON 27.03.2015

Names of Allottees	No. of Shares
Rachna Agarwal	46500
Aditya Agarwal	49000
Gautam Agarwal	49000
Premnath Agarwal	110000
Total	254500

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Packaging Materials. [Confirmed by management]

Products :

Item Code No.	Product Description
39201011	Laminating Film
47071000	Corrugated Cartoons
48191010	Printed Cartoons and Boxes
76072090	Aluminum Foil

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished good

Countries :

• Bangalore
• France
• Middle East

Imports :

Products :

Raw Material

Countries :

• China
• Malaysia
• Qatar
• Greece

Terms :

Selling :

Cash, L\C and Credit

Purchasing :

Cash, L\C and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Hindalco Industries Limited, Mumbai, Maharashtra, India
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 :

Wholesalers, Retailers and Manufacturer

Reference :	Piramal Glass Limited, Mumbai, Maharashtra, India
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 :

125 (Approximately)

Bankers :

• Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
• HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India
• Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India

Banker Name	Axis Bank Limited
Branch Address	Fort, Mumbai, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Rupee term loans from banks	72.230	71.771
Term loans from others	65.558	27.761
Other loans and advances	1.318	2.596
SHORT TERM BORROWINGS	139.106	102.128
Working capital loans from banks	377.351	310.054
Other loans and advances	43.432	117.591
Total	559.889	529.773

Auditors :
Name :	Vijay Rungta and Company Chartered Accountants
Address :	4/88, Nityanand Nagar, S N Marg, Opposite Railway Station, Andheri (East), Mumbai – 400 069, Maharashtra, India
Tel. No.:	91-22-26836687
Fax No.:	91-22-26843748
E-Mail :	vrco84@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFV0164A
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Aditya Agarwal Investments (Bombay) Private Limited, India CIN No.: U65990MH1994PTC078527 Ansa Decoglass Private Limited, India CIN No.: U26109MH2002PTC137008 Ecofriendly Corpack Private Limited, India CIN No.: U67120MH1994PTC078488 Gaiety Holdings Private Limited, India CIN No.: U67120MH1996PTC098787 Nifty Holdings Private Limited, India CIN No.: U67120MH1996PTC098787

CAPITAL STRUCTURE

After 30.09.2014

Authorised Capital: Rs.76.500 Million

Issued, Subscribed & Paid-up Capital: Rs.42.774 Million

AS ON 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
7000000	Equity Shares	Rs.10/- each	Rs.70.000 Million
65000	Preference Shares	Rs.100/- each	Rs.6.500 Million
	Total		Rs.76.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4022880	Equity Shares	Rs.10/- each	Rs.40.229 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	40.229	40.229	0.789
(b) Reserves & Surplus	319.236	311.463	328.720
(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)	359.465	351.692	329.509
(3) Non-Current Liabilities
(a) long-term borrowings	326.926	277.321	110.638
(b) Deferred tax liabilities (Net)	35.565	35.701	30.398
(c) Other long term liabilities	28.579	23.579	26.612
(d) long-term provisions	3.703	3.246	2.528
Total Non-current Liabilities (3)	394.773	339.847	170.176
(4) Current Liabilities
(a) Short term borrowings	420.783	427.645	359.764
(b) Trade payables	399.368	363.110	269.727
(c) Other current liabilities	263.471	102.488	43.252
(d) Short-term provisions	3.951	2.347	2.048
Total Current Liabilities (4)	1087.573	895.590	674.791
TOTAL	1841.811	1587.129	1174.476
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	585.592	576.356	448.719
(ii) Intangible Assets	4.579	7.138	8.510
(iii) Capital work-in-progress	64.018	86.798	5.396
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	12.893	10.844	0.000
(d) Long-term Loan and Advances	0.000	0.861	7.193
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	667.082	681.997	469.818
(2) Current assets
(a) Current investments	0.000	0.000	0.085
(b) Inventories	530.235	431.816	361.385
(c) Trade receivables	371.197	338.718	288.609
(d) Cash and cash equivalents	19.419	32.496	10.652
(e) Short-term loans and advances	59.183	34.954	30.565
(f) Other current assets	194.695	67.148	13.361
Total Current Assets	1174.729	905.132	704.658
TOTAL	1841.811	1587.129	1174.476

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	Net Revenue	1935.700	1773.700	1544.400
Less	EXPENSES	NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX	22.783	26.884	23.397
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	154.703	128.736	107.964
Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	0.635	2.350
	Dividend	0.241	0.241	0.236
	Tax on Dividend	0.041	0.041	0.038
	Total	0.282	0.917	2.624
	Balance Carried to the B/S	177.204	154.703	128.737
	Earnings / (Loss) Per Share (Rs.)	5.66	6.68	5.82

Particulars	31.03.2015
Sales Turnover (Approximately)	2100.000

Expected Sales (2015-2016): Rs.2200.000 Million

The above information has been parted by Mr. Dhiraj Sharma (Assistant Manager).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	56.729	39.393	26.470
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	103.093	39.337	146.739

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Total Revenue)	(%)	1.18	1.52	1.51
Debt Equity Ratio (Total Debt /Networth)		2.24	2.12	1.51
Current Ratio (Current Asset/Current Liability)		1.08	1.01	1.04

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	0.789	40.229	40.229
Reserves & Surplus	328.720	311.463	319.236
Money received against share warrants	0.000	0.000	0.000
Net worth	329.509	351.692	359.465
Long-term borrowings	110.638	277.321	326.926
Short term borrowings	359.764	427.645	420.783
Current maturities of long-term debts	26.470	39.393	56.729
Total borrowings	496.872	744.359	804.438
Debt/Equity ratio	1.508	2.117	2.238

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)
Total Revenue	1544.400	1773.700	1935.700
		14.847	9.133

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Revenue	1544.400	1773.700	1935.700
Profit	23.397	26.884	22.783
	1.51%	1.52%	1.18%

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	Yes
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	Yes
19	Major customers	Yes
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	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from The Simplex Mills Compounds 2^nd Floor, K. K. Marg, Jacob Circle, Byculla (West), Mumbai – 400011, Maharashtra, India to the present address w.e.f. 04.02.2011

OPERATIONS:

The Net Revenues for the year has increased to Rs.1935.700 Million from Rs.1773.700 million achieved in the previous year. The Directors are making continuous efforts to improve the performance of the Company. The Company has been focusing on adding new customers and developing markets for new products which will help in further improving the performance of the company.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Deposits from shareholders	91.964	60.004
Intercorporate deposits	35.421	37.471
Loans and advances from related parties	60.435	77.718
Total	187.820	175.193

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10582732	22/07/2015	2,930,850.00	SIEMENS FINANCIAL SERVICES PRIVATE LIMITED	130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	C60158946
2	10579039	09/07/2015	10,000,000.00	DBS BANK LIMITED	2ND FLOOR, SHRI AMBICA AUTO, PLOT NO.10, GIDC BHA  TPORE, SURAT, GUJARAT - 394510, INDIA	C58478199
3	10565301	30/03/2015	100,000,000.00	RBL BANK LIMITED	SHAHUPURI,KOLHAPUR,, KOLHAPUR, MAHARASHTRA - 416001, INDIA	C51465003
4	10567586	30/03/2015	17,240,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	C52743465
5	10537997	28/11/2014	9,559,580.00	SIEMENS FINANCIAL SERVICES PRIVATE LIMITED	130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	C37711272
6	10512685	08/07/2014	6,300,000.00	SIEMENS FINANCIAL SERVICES PRIVATE LIMITED	130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	C14896914
7	10495776	07/03/2014	11,375,000.00	SIEMENS FINANCIAL SERVICES PRIVATE LIMITED	130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	C04784815
8	10473867	30/12/2013	40,000,000.00	SIEMENS FINANCIAL SERVICES PRIVATE LIMITED	130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B94816279
9	10449295	06/09/2013	18,758,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	B85089589
10	10430410	28/11/2013 *	14,377,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	B91794321

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Guarantees	0.190	0.190
Other money for which company is contingently liable	46.751	44.484

FIXED ASSETS

· Land

· Buildings

· Factory building

· Plant and equipment

· Factory equipment’s

· Other plant and equipment

· Vehicles

· Office equipment

· Other equipment’s

· 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 records 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.66.81
UK Pound	1	Rs.100.37
Euro	1	Rs.70.68

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	HEE
Report Prepared by :	GEET

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	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		47

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.