MIRA INFORM REPORT

Report No. :	353098
Report Date :	04.12.2015

IDENTIFICATION DETAILS

Name :	MOHAN SPINTEX INDIA LIMITED
Registered Office :	D. No.11-40-1, S-1A, Chitturi Complex, Pulipativari Street, Vijayawada – 520 001, Andhra Pradesh
Tel. No.:	91-866-2466266
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.05.2005
Com. Reg. No.:	01-046188
Capital Investment / Paid-up Capital :	Rs. 564.852 million
CIN No.: [Company Identification No.]	U18100AP2005PLC046188
IEC No.:	0905008308
TIN No.:	28630189388 37630189388
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AARPV7157L AAECM2744G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged manufacturing different counts of cotton yarn. (Registered Activity)
No. of Employees :	1700 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 3210000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2005 and it is engaged in manufacturing textile jungle of cotton yarns. For the financial year ended 2014, company has reported 28.37% sales turnover growth as compared to previous sales turnover and it has maintained satisfactory profitability margins at 6.77% during the year under a review. Rating draw strength from the experienced promoters supported by presence of the company facilities in the cotton-growing region of Andhra Pradesh with easy availability of raw material, geographical revenue diversification and incentives from the state government of Andhra Pradesh under industry investment Promotion Policy. Rating also takes into account of company’s satisfactory financial profile marked by its sound networth base and above average debt coverage indicators. However, rating strength is partially offset by volatility in cotton and yarn prices led to affect profit margin of the company and working capital intensive nature of operations. Trade relation are reported as fair. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for 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	CARE
Rating	Long-term Bank Facilities: BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	28.08.2015

Rating Agency Name	CARE
Rating	Short-term Bank Facilities: A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	28.08.2015

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Balkrishna
Designation :	Accounts Department
Contact No.:	91-866-2466166
Date :	02.12.2015

LOCATIONS

Registered Office :	D. No.11-40-1, S-1A, Chitturi Complex, Pulipativari Street, Vijayawada – 520001, Andhra Pradesh, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	md@mohanspintex.com marketing@mohanspintex.com info@mohanspintex.com mohanspintexind@rediffmail.com
Website :	http://www.mohanspintex.com
Corporate Office :	#48-12-17, Near ESI Bus Stop, Eluru Road, Gunadala, Vijayawada – 520 004, Andhra Pradesh, India
Tel. No. :	91-866-2466266/ 2466277/ 2466288
Fax No. :	91-866-2466166
Factory 1 :	Unit-I: Vattigudipadu, Agiripalli Mandal, Krishna District – 521 211, Andhra Pradesh, India
Tel. No. :	91-8656-250456/ 250565
Fax No. :	91-8656-250453
Factory 2 :	Unit-II: Remalle, Bapulapadu Mandal, Krishna District – 521 110, Andhra Pradesh, India
Tel. No. :	91-8656-239555/ 557/ 558
Fax No. :	91-8656-239556

DIRECTORS

AS ON 31.03.2015

Name :

Mr. Mohan Rao Vallabhaneni

Designation :

Director

Address :

59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520 008, Andhra Pradesh, India

Date of Birth/Age :

19.10.1939

Date of Appointment :

01.04.2008

DIN No. :

00320520

PAN No.:

AARPV7157L

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	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	01/04/2008	11/05/2005	-	Active	NO
2	U40108AP2014PTC095240	MOHAN RENEWABLE ENERGY INDIA PRIVATE LIMITED	Director	05/09/2014	05/09/2014	-	Active	NO

Name :

Mr. Sudhakar Chowdary Vallabhaneni

Designation :

Managing Director

Address :

59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada – 520 008, Andhra Pradesh, India

Date of Birth/Age :

06.06.1969

Date of Appointment :

10.03.2013

PAN No.:

ABXPV8246M

DIN No. :

00320555

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	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Managing director	10/03/2013	11/05/2005	-	Active	NO
2	U24121DL2005PLC143452	KRIBHCO SHYAM FERTILIZERS LIMITED	Nominee director	08/12/2005	08/12/2005	10/09/2007	Active	NO
3	U70200DL2009PLC189405	KRIBHCO INFRASTRUCTURE LIMITED	Director	16/04/2009	16/04/2009	-	Active	NO
4	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	19/09/2013	19/09/2013	-	Active	NO
5	U74900AP2013PLC091220	SOUTHERN VALLEY VENTURES LIMITED	Director	22/11/2013	22/11/2013	19/05/2014	Active	NO
6	U45200AP2014PTC094680	MOHAN DWELLINGS PRIVATE LIMITED	Director	24/06/2014	24/06/2014	-	Active	NO
7	U51900AP2014PTC095198	MOHAN MERCANTILE INDIA PRIVATE LIMITED	Director	02/09/2014	02/09/2014	-	Active	NO
8	U40108AP2014PTC095240	MOHAN RENEWABLE ENERGY INDIA PRIVATE LIMITED	Director	05/09/2014	05/09/2014	-	Active	NO

Name :

Mr. Ravi Kumar Gottimukkala

Designation :

Director

Address :

72-5-5, Lakshmi Nursing Home Street, Patamata, Vijayawada – 520 007, Andhra Pradesh, India

Date of Birth/Age :

29.04.1970

Date of Appointment :

11.05.2005

DIN No. :

00295152

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	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	11/05/2005	11/05/2005	-	Active	NO
2	U45200AP2014PTC094680	MOHAN DWELLINGS PRIVATE LIMITED	Director	24/06/2014	24/06/2014	-	Active	NO

Name :

Yantrapragada Subba Rao

Designation :

Director

Address :

20990, Valley Green Drive, Apt Cupertno, CA 95014, USA

Date of Birth/Age :

11.07.1965

Date of Appointment :

08.07.2005

DIN No. :

03560766

Name :

Mr. Yantrapragada Bhaskararao

Designation :

Alternate Director

Address :

D. No.3-7-10, Ramnagar, Nidadavolu – 534 301, Andhra Pradesh, India

Date of Birth/Age :

07.07.1939

Date of Appointment :

08.07.2005

DIN No. :

01777661

Name :

Bobba Venkateswararao

Designation :

Director

Address :

D. No.40-25-18/1, Netaji Street, Patamata Lanka, Vijayawada – 520 010, Andhra Pradesh, India

Date of Birth/Age :

01.01.1960

Date of Appointment :

31.03.2006

DIN No. :

00161960

PAN No.:

APJPB0327N

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	U01222AP1988PTC008154	KAMADHENU FEEDS PRIVATE LIMITED	Managing director	05/01/1988	05/01/1988	-	Active	NO
2	U40101KA2005PTC035803	SRI NIRMALA POWER PRIVATE LIMITED	Director	02/06/2005	02/06/2005	-	Dormant	NO
3	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
4	U40108AP2014PTC095240	MOHAN RENEWABLE ENERGY INDIA PRIVATE LIMITED	Director	05/09/2014	05/09/2014	-	Active	NO

Name :

Sankar Rao Koneru

Designation :

Director

Address :

55-6-16, Krishna Mandir Road, Venkojipalem, Visakhapatnam – 530 022, Andhra Pradesh, India

Date of Birth/Age :

15.04.1960

Date of Appointment :

31.03.2006

DIN No. :

00133956

Name :

Venkatanjan Kakarala

Designation :

Director

Address :

54-14/1-6/1, Srinivasa Nagar, Vijayawada – 520 008, Andhra Pradesh, India

Date of Birth/Age :

08.02.1962

Date of Appointment :

28.09.2011

DIN No. :

00680580

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	U74210AP1987PTC007283	MAGNA ENGINEERING PRODUCTS PRIVATE LIMITED	Whole-time director	16/08/1988	16/08/1988	-	Active	NO
2	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	28/09/2011	18/08/2006	-	Active	NO
3	U51900AP2014PTC095198	MOHAN MERCANTILE INDIA PRIVATE LIMITED	Director	02/09/2014	02/09/2014	-	Active	NO

Name :

Mohana Kumari Ravella

Designation :

Director

Address :

9-63-69, Hameed Street, Vijayawada – 520 001, Andhra Pradesh, India

Date of Birth/Age :

04.05.1959

Date of Appointment :

08.08.2008

DIN No. :

02303947

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	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	08/08/2008	08/08/2008	-	Active	NO
2	U51900AP2014PTC095198	MOHAN MERCANTILE INDIA PRIVATE LIMITED	Director	02/09/2014	02/09/2014	-	Active	NO

Name :

Padmini Vallabhaneni

Designation :

Director

Address :

D. No.59-7-3/A, Acharya Ranga Street, Rama Chandra Rao Nagar, Ward No.42, Vijayawada – 520 010, Andhra Pradesh, India

Date of Birth/Age :

13.06.1970

Date of Appointment :

08.08.2008

DIN No. :

02317647

PAN No.:

ABXPV5566A

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	U18100AP2005PLC046188	MOHAN SPINTEX INDIA LIMITED	Director	08/08/2008	08/08/2008	-	Active	NO
2	U45200AP2014PTC094680	MOHAN DWELLINGS PRIVATE LIMITED	Director	24/06/2014	24/06/2014	-	Active	NO

Name :

Ramaprasad Chalasani

Designation :

Director

Address :

1-14-262-4/902b, Manjeera Heights, B-Block, Phase 1, Chitra Layout, LB Nagar, Hyderabad-500074, Telangana, India

Date of Appointment :

15.12.2014

DIN No. :

07030015

Name :

Muthulur Subramanyam

Designation :

Director

Address :

Qtr No S3 Bungalows Area, Laxmidevipalli, Kothagudem-507101, Andhra Pradesh, India

Date of Appointment :

15.12.2014

DIN No. :

00105017

KEY EXECUTIVES

Name :	Mr. Balkrishna
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 15.05.2013

SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 15.05.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings [(Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others]	7.44
Directors or relatives of Directors	60.14
Others	32.42
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged manufacturing different counts of cotton yarn. (Registered Activity)
Products :	Cotton Yarn
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished goods
Countries :	China Pakistan
Imports :
Products :	Machinery
Countries :	Germany Switzerland
Terms :
Selling :	L/C / Cheque
Purchasing :	L/C / Cheque

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Cotton Corporation of India
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Retailer and End Users

Reference :	Mahaveer Textile Agency
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

1700 (Approximately)

Bankers :

Banker Name	Andhra Bank
Branch Address	R. R. Appa Rao Street, P.B. No.22, Andhra Bank Buildings, Vijayawada – 520 001, Andhra Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	91-866-2560402
Name of Account Holder	Not Divulged
Account Number	60613100000122
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)	Management non-cooperative

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks	925.735	1136.438
Loans taken for vehicles	3.302	4.370
SHORT TERM BORROWINGS
Loans repayable on demand from banks	594.331	434.193
Loans and advances from directors	5.061	0.000
Total	1528.429	1575.001

Auditors :
Name :	Prasad and Company Chartered Accountants
Address :	29-13-46, Kaleswararao Road, Suryarao Pet, Vijayawada, Andhra Pradesh, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACHPP4796K
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 06.08.2014

Authorised Capital : Rs.585.000 million

Issued, Subscribed & Paid-up Capital : Rs.585.000 million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
58500000	Equity Shares	Rs.10/- each	Rs.585.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
56485220	Equity Shares	Rs.10/- each	Rs.564.852 million

AS ON 15.05.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
52650000	Equity Shares	Rs.10/- each	Rs.526.500 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41950014	Equity Shares	Rs.10/- each	Rs.419.500 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	564.852	419.500	360.350
(b) Reserves & Surplus	538.563	287.253	126.836
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	20.156	25.100	2.350
Total Shareholders’ Funds (1) + (2)	1123.571	731.853	489.536
(3) Non-Current Liabilities
(a) Long-term borrowings	1100.137	1203.786	1394.337
(b) Deferred tax liabilities (Net)	102.764	92.363	83.624
(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)	1202.901	1296.149	1477.961
(4) Current Liabilities
(a) Short term borrowings	599.392	434.193	475.464
(b) Trade payables	15.021	14.366	59.500
(c) Other current liabilities	342.463	296.763	211.246
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	956.876	745.322	746.210
TOTAL	3283.348	2773.324	2713.707
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1788.670	1847.530	1856.554
(ii) Intangible Assets	1.709	0.000	0.000
(iii) Capital work-in-progress	75.082	8.416	0.000
(iv) Intangible assets under development	0.000	0.918	0.000
(b) Non-current Investments	0.200	0.100	0.100
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	121.193	29.596	19.697
(e) Other Non-current assets	0.500	1.001	1.501
Total Non-Current Assets	1987.354	1887.561	1877.852
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	738.024	490.495	493.547
(c) Trade receivables	181.695	167.410	160.880
(d) Cash and cash equivalents	1.660	1.751	0.677
(e) Short-term loans and advances	171.721	125.074	180.751
(f) Other current assets	202.894	101.033	0.000
Total Current Assets	1295.994	885.763	835.855
TOTAL	3283.348	2773.324	2713.707

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	3710.213	2902.426	1903.750
		Other Income	50.553	26.801	3.226
		TOTAL	3760.766	2929.227	1906.976
Less	EXPENSES
		Cost of materials consumed	2468.649	1775.722	1456.487
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(69.900)	38.324	(149.140)
		Employee benefit expense	111.303	93.256	73.458
		Other expenses	573.844	480.730	254.605
		TOTAL	3083.896	2388.032	1635.410
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		676.870	541.195	271.566
Less	FINANCIAL EXPENSES		237.761	228.383	161.655
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		439.109	312.812	109.911
Less/ Add	DEPRECIATION/ AMORTISATION		103.897	101.017	77.672
	PROFIT/ (LOSS) BEFORE TAX		335.212	211.795	32.239
Less	TAX		83.902	51.378	47.991
	PROFIT/ (LOSS) AFTER TAX		251.310	160.417	(15.752)
	EARNINGS IN FOREIGN CURRENCY		1423.551	367.261	17.583
	Earnings / (Loss) Per Share (Rs.)		4.45	3.82	NA

Particulars	31.03.2015
Sales Turnover (Approximately)	3900.000

Expected Sales (2015-2016) : Rs.5500.000 Million

The above information has been parted by Mr. Balkrishna (Accounts Department)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	220.200	192.824	153.000
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	6.77	5.53	(0.83)
Operating Profit Margin (PBDIT/ Sales)	(%)	18.24	18.65	14.26
Return on Total Assets (PBT/Total Assets}	(%)	10.45	7.66	1.19
Return on Investment (ROI) (PBT/Networth)		0.30	0.29	0.07
Debt Equity Ratio (Total Debt/Networth)		1.71	2.50	4.13
Current Ratio (Current Asset/Current Liability)		1.35	1.19	1.12

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	360.350	419.500	564.852
Reserves & Surplus	126.836	287.253	538.563
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	2.350	25.100	20.156
Net worth	489.536	731.853	1123.571
long-term borrowings	1394.337	1203.786	1100.137
Short term borrowings	475.464	434.193	599.392
Current maturities of long-term debts	153.000	192.824	220.200
Total borrowings	2022.801	1830.803	1919.729
Debt/Equity ratio	4.132	2.502	1.709

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Revenue from operations	1903.750	2902.426	3710.213
		52.458	27.831

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Revenue from operations	1903.750	2902.426	3710.213
Profit	(15.752)	160.417	251.310
	(0.83%)	5.53%	6.77%

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	No
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 three 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

COMPANY OVERVIEW:

Subject, founded in the year 2005 with an object to establish spinning and textile mills. The registered office of the company situated at Vijayawada, A.P. The Company is manufacturing different counts of cotton yarn, achieved a turnover of Rs.3710.212 million for the year ending 31^st March, 2014 and earned a net profit of Rs.251.310 million for the above period.

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Loans and advances from directors	85.802	13.478
Loans and advances from others	85.298	49.500
Total	171.100	62.978

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10477318	10/01/2014	135,000,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P.B. NO.22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B96217435
2	10405793	28/12/2012	35,000,000.00	INDIAN OVERSEAS BANK	RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA, ANDHRA PRADESH - 520008, INDIA	B68852763
3	10331963	16/08/2014 *	812,000,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO.22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	C16618795
4	10294138	20/06/2011	11,000,000.00	INDIAN OVERSEAS BANK	RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA, ANDHRA PRADESH - 520008, INDIA	B15792476
5	10294128	16/06/2011	16,900,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO.22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B15789886
6	10294132	09/06/2011	197,500,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO.22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	B15790504
7	10268112	26/11/2014 *	4,015,700,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO.22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	C37604790
8	10248358	14/12/2011 *	325,000,000.00	INDIAN OVERSEAS BANK	RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA, ANDHRA PRADESH - 520008, INDIA	B29947199
9	10202312	04/02/2010 *	607,500,000.00	ANDHRA BANK	R. R. APPA RAO STREET, P. B. NO.22, ANDHRA BANK BUILDINGS, VIJAYAWADA, ANDHRA PRADESH - 520001, INDIA	A80779739
10	10003742	20/06/2011 *	673,400,000.00	STATE BANK OF INDIA	PATAMATA BRANCH, PATAMATA, VIJAYAWADA, ANDHRA PRADESH - 520007, INDIA	B16040990

* Date of charge modification

FIXED ASSETS

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Office 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.66.61
UK Pound	1	Rs.100.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	KAR
Report Prepared by :	JYTK

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	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.