MIRA INFORM REPORT

Report No. :	353403
Report Date :	07.12.2015

IDENTIFICATION DETAILS

Name :	K G DENIM LIMITED
Registered Office :	Then Thirumalai, Jadayampalayam, Coimbatore - 641 302, Tamil Nadu
Tel. No.:	91-4254-304300/ 235300
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	25.06.1992
Com. Reg. No.:	18-003798
Capital Investment / Paid-up Capital :	Rs. 256.651 Million
CIN No.: [Company Identification No.]	L17115TZ1992PLC003798
IEC No.:	3292004349
TAN No.: [Tax Deduction & Collection Account No.]	CMBK03032B
PAN No.: [Permanent Account No.]	AAACK7940C
Legal Form :	A Public Limited Liability Company. The company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Subject is engaged in manufacturing and selling Denim and Apparel Fabrics to fashion brands and retailers in India. The subject is also provides Home Textiles Products. (Indirect Sources)
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1992 by Mr. K. Govindswamy Naidu, founder of KG Group to manufacture denim fabric. The company is now managed by his son Mr. K G Baalakrishnan, Chairman and grandsons, Mr. B Sriramulu and Mr. B. Srihair, Managing Directors. For the financial year ended 2015, company possesses stagnant operational performance with slight dip of 0.089% in its revenue and net profit has drastically declined by 96.80% during the year under review. Ratings continue to be constrained by working capital intensive nature of operations, high gearing levels, volatility in profitability due to fluctuation in raw material prices and cyclical nature of the denim industry. However, rating weakness is partially offset by company’s established presence in denim business for about two decades, the group’s integrated presence in the textile value chain and established clientele in the domestic as well as export markets. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealing with some caution. Note: As confirmed by Mr. Parasuraman, Account manager that “indigo fabric” is a division of K G Denim Limited.

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 = BB
Rating Explanation	Inadequate-credit-quality and high credit risk
Date	06.10.2015

Rating Agency Name	CARE
Rating	Short-Term Bank Facilities = A4
Rating Explanation	Minimal degree of safety and very high credit risk
Date	06.10.2015

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 DENIED BY

Name :	MR. Parasuraman
Designation :	Accounts Manager
Contact No.:	91-4254-235401
Date :	04.12.2015

LOCATIONS

Registered Office/ Factory :	Then Thirumalai, Jadayampalayam, Coimbatore - 641302, Tamil Nadu, India
Tel. No.:	91-4254-304300/ 235300
Fax No.:	Not Available
E-Mail :	cskgdl@kgdenim.in
Website :	www.kgdenim.com

DIRECTORS

AS ON 31.03.2015

Name :	Mr. K G Baalakrishnan
Designation :	Executive Chairman

Name :

Mr. Balakrishnan Sriramulu

Designation :

Managing Director

Address :

188 Race Course, Coimbatore - 641018, Tamil Nadu, India

Date of Appointment :

24.05.2014

DIN No.:

00002560

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	U17121TZ1982PTC001220	K G TEXTILE PROCESSORS PRIVATE LIMITED	Director	19/12/1987	19/12/1987	-	Active	NO
2	U02102TZ1984PTC001432	SERVALAKSHMI PAPER AND BOARDS PRIVATE LIMITED	Director	01/08/1994	01/08/1994	-	Amalgamated	NO
3	U67120TZ1994PTC005327	K G B SECURITIES AND INVESTMENTS PRIVATE LIMITED	Director	05/09/1994	05/09/1994	-	Active	NO
4	U65999TZ1994PLC005630	KG FABRIKS LIMITED	Managing director	03/11/2013	23/12/1994	27/05/2015	Active	NO
5	U64201TZ1995PLC005697	ENTERPRISE TELESYS LIMITED	Director	17/01/1995	17/01/1995	-	Active	NO
6	U65993TZ1995PTC006051	GANAPATHYKUMARAN INVESTMENTS PRIVATE LIMITED	Director	19/04/1995	19/04/1995	-	Active	NO
7	U67120TZ1995PTC005959	KUMARANGANAPATHY INVESTMENTS PRIVATE LIMITED	Director	25/09/1996	25/09/1996	-	Active	NO
8	U52110TZ1989PTC002498	SERVALL ENGINEERING WORKS PRIVATE LIMITED	Director	11/05/1999	11/05/1999	15/03/2012	Active	NO
9	U72200TZ2000PTC009135	TEXWORLD.COM PRIVATE LIMITED	Director	07/01/2000	07/01/2000	-	Strike off	NO
10	U21012TZ1980PTC000899	DANALAKSHMI PAPER MILLS PRIVATE LIMITED	Director	10/06/2000	10/06/2000	-	Active	NO
11	L17115TZ1992PLC003798	K G DENIM LIMITED	Managing director	24/05/2014	03/11/2003	-	Active	NO
12	U17111TZ1946PLC000188	SRI KANNAPIRAN MILLS LIMITED	Managing director	04/06/2015	31/01/2004	-	Active	NO
13	U40101TZ2006PLC012972	ANANDHI POWER LIMITED	Director	31/07/2006	31/07/2006	-	Active	NO
14	L21012TN2005PLC092783	SERVALAKSHMI PAPER LIMITED	Director	29/09/2007	12/02/2007	01/07/2015	Active	NO

Name :

Mr. Balakrishnan Srihari

Designation :

Managing Director

Address :

188, Race Course, Coimbatore - 641018, Tamil Nadu, India

Date of Appointment :

24.05.2014

DIN No.:

00002556

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	U17121TZ1982PTC001220	K G TEXTILE PROCESSORS PRIVATE LIMITED	Director	29/09/1989	29/09/1989	-	Active	NO
2	U67120TZ1994PTC005327	K G B SECURITIES AND INVESTMENTS PRIVATE LIMITED	Director	05/09/1994	05/09/1994	-	Active	NO
3	U64201TZ1995PLC005697	ENTERPRISE TELESYS LIMITED	Director	17/01/1995	17/01/1995	-	Active	NO
4	U67120TZ1995PTC005959	KUMARANGANAPATHY INVESTMENTS PRIVATE LIMITED	Director	27/03/1995	27/03/1995	-	Active	NO
5	U65993TZ1995PTC006051	GANAPATHYKUMARAN INVESTMENTS PRIVATE LIMITED	Director	25/09/1996	25/09/1996	-	Active	NO
6	U65999TZ1994PLC005630	KG FABRIKS LIMITED	Managing director	29/09/2010	26/09/1998	27/05/2015	Active	NO
7	L17115TZ1992PLC003798	K G DENIM LIMITED	Managing director	24/05/2014	03/11/2003	-	Active	NO
8	U17111TZ1946PLC000188	SRI KANNAPIRAN MILLS LIMITED	Managing director	04/06/2015	31/01/2004	-	Active	NO
9	U40101TZ2006PLC012972	ANANDHI POWER LIMITED	Director	31/07/2006	31/07/2006	-	Active	NO
10	U40108TZ2009PTC014992	RND WIND ENERGY PRIVATE LIMITED	Director	22/01/2009	22/01/2009	-	Under Process of Striking off	NO
11	U40100TZ2006PTC013130	LEAP GREEN ENERGY PRIVATE LIMITED	Director	22/06/2009	10/03/2009	-	Active	NO
12	U17111TZ2012PLC018705	COTTON SOURCING COMPANY LIMITED	Director	31/08/2012	31/08/2012	-	Active	NO
13	U74140DL2014NPL270744	TEXTILE SECTOR SKILL COUNCIL	Nominee director	14/11/2014	14/11/2014	-	Active	NO

Name :

Mr. Srikrishnadesikan

Designation :

Director

Address :

79, A K Nagar, Saibaba Mission Post, Coimbatore - 641011, Tamil Nadu, India

Date of Appointment :

31.10.2003

DIN No.:

00050597

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	U17111TZ1946PLC000188	SRI KANNAPIRAN MILLS LIMITED	Director	04/09/1971	04/09/1971	21/08/2012	Active	NO
2	U17121TZ1982PTC001220	K G TEXTILE PROCESSORS PRIVATE LIMITED	Director	01/10/1985	01/10/1985	-	Active	NO
3	L17111TZ1994PLC004797	SALONA COTSPIN LIMITED	Director	29/09/2014	23/02/1995	-	Active	NO
4	U72200TZ1999PTC008982	TERRAVAULT NETWORKS PRIVATE LIMITED	Director	27/09/2000	27/09/2000	-	Active	NO
5	L17115TZ1992PLC003798	K G DENIM LIMITED	Director	31/10/2003	31/10/2003	-	Active	NO
6	U18101TZ1999PLC008956	TRIGGER APPARELS LIMITED	Director	27/10/2005	27/10/2005	22/05/2015	Active	NO
7	U17115TZ1989PLC002384	SRI BALAMURUGAN TEXTILE PROCESSING LIMITED	Director	30/09/2006	05/05/2006	-	Active	NO
8	U72100TN2009PTC070469	EXIMER COMMUNICATIONS PRIVATE LIMITED	Director	15/01/2009	15/01/2009	-	Active	NO

Name :

Mr. Gobichettipalayam Periasamy Muniappan

Designation :

Director

Address :

Deputy Governer (Retd), B-189, Sreevatsa Gardens, Mettupalayam Road, Thudiyalur, Coimbatore - 641043, Tamil Nadu, India

Date of Appointment :

31.10.2008

DIN No.:

01653599

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	U45203MH2006PTC265580	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	26/06/2008	11/07/2007	15/04/2009	Active	NO
2	L17111TZ2003PLC010518	K.P.R. MILL LIMITED	Director	27/08/2014	24/03/2008	-	Active	NO
3	L17115TZ1992PLC003798	K G DENIM LIMITED	Director appointed in casual vacancy	31/10/2008	31/10/2008	-	Active	NO
4	L21012TN2005PLC092783	SERVALAKSHMI PAPER LIMITED	Director	07/06/2010	31/03/2010	06/08/2012	Active	NO
5	U15421TZ2006PLC012633	K.P.R. SUGAR MILL LIMITED	Director	21/08/2015	28/07/2015	-	Active	NO
6	U18101TZ2009PTC015251	QUANTUM KNITS PRIVATE LIMITED	Director	21/08/2015	28/07/2015	-	Active	NO
7	U50100TZ2011PTC017370	JAHNVI MOTOR PRIVATE LIMITED	Director	21/08/2015	28/07/2015	-	Active	NO

Name :	Mr. K N V Ramani
Designation :	Director

Name :	Mr. V Jagadisan
Designation :	Director

Name :	Mr. T Anandhi
Designation :	Director

Name :	Mr. M J Vijayaraaghavan
Designation :	Director

Name :	Mr. Surinder Chhibber
Designation :	Director

Name :

Mr. Ayyalusamy Velusamy

Designation :

Director

Address :

46 A, II Layout, Krishnasamy Nagar, Coimbatore - 641045, Tamil Nadu, India

Date of Appointment :

24.05.2015

DIN No.:

00002204

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	U17115TZ1989PLC002384	SRI BALAMURUGAN TEXTILE PROCESSING LIMITED	Director	06/10/1990	06/10/1990	-	Active	NO
2	U67120TZ1994PTC005327	K G B SECURITIES AND INVESTMENTS PRIVATE LIMITED	Director	05/09/1994	05/09/1994	-	Active	NO
3	U17111TZ1946PLC000188	SRI KANNAPIRAN MILLS LIMITED	Director	26/12/1996	26/12/1996	-	Active	NO
4	U65999TZ1994PLC005630	KG FABRIKS LIMITED	Whole-time director	27/05/2015	14/03/1998	-	Active	NO
5	L17115TZ1992PLC003798	K G DENIM LIMITED	Director	24/05/2015	27/01/2005	-	Active	NO
6	U18101TZ1999PLC008956	TRIGGER APPARELS LIMITED	Director	27/10/2005	27/10/2005	-	Active	NO
7	U40101TZ2006PLC012972	ANANDHI POWER LIMITED	Director	31/07/2006	31/07/2006	-	Active	NO
8	U74999TZ2007PLC014039	TRIGGER MARKETING LIMITED	Director	22/11/2007	22/11/2007	-	Active	NO
9	U72100TN2009PTC070469	EXIMER COMMUNICATIONS PRIVATE LIMITED	Director	30/09/2011	14/02/2011	-	Active	NO

Name :	Mr. S Muthuswamy
Designation :	Director

Name :

Mr. Govindaswamynaidu Balakrishnan

Designation :

Managing Director

Address :

188, Race Course, Coimbatore - 641018, Tamil Nadu, India

Date of Appointment :

03.11.2013

DIN No.:

00002174

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	U17111TZ1946PLC000188	SRI KANNAPIRAN MILLS LIMITED	Director	04/06/2015	07/08/1971	-	Active	NO
2	U17111TZ1946PLC000083	THE KADRI MILLS (CBE) LIMITED	Director	25/10/1975	25/10/1975	28/09/2007	Active	NO
3	U18101KA1979PTC003597	SRIDEVI TEXTILE PRIVATE LIMITED	Director	12/08/1987	12/08/1987	-	Active	NO
4	U17115TZ1989PLC002384	SRI BALAMURUGAN TEXTILE PROCESSING LIMITED	Director	02/08/1994	02/08/1994	-	Active	NO
5	U67120TZ1994PTC005327	K G B SECURITIES AND INVESTMENTS PRIVATE LIMITED	Director	05/09/1994	05/09/1994	-	Active	NO
6	U18101TZ1999PLC008956	TRIGGER APPARELS LIMITED	Director	30/07/1999	30/07/1999	-	Active	NO
7	L17115TZ1992PLC003798	K G DENIM LIMITED	Managing director	03/11/2013	03/11/2003	-	Active	NO
8	U65999TZ1994PLC005630	KG FABRIKS LIMITED	Director	23/03/2005	23/03/2005	-	Active	NO
9	U40101TZ2006PLC012972	ANANDHI POWER LIMITED	Director	31/07/2006	31/07/2006	-	Active	NO
10	U74999TZ2007PLC014039	TRIGGER MARKETING LIMITED	Director	22/11/2007	22/11/2007	-	Active	NO

Name :

Anandhi

Designation :

Director

Address :

218, Tea Estate Compound, Race Course, Coimbatore - 641018, Tamil Nadu, India

Date of Appointment :

03.11.2003

DIN No.:

00050786

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	U18101TZ1994PTC004974	ELLJAY TEXTILES PRIVATE LIMITED	Whole-time director	28/04/1995	28/04/1995	-	Active	NO
2	U17111TZ1998PTC008669	NIKETHANA TEXTILES PRIVATE LIMITED	Director	02/12/1998	02/12/1998	-	Strike off	NO
3	U17111TZ1999PTC008720	ESSARGEE TEXTILES PRIVATE LIMITED	Director	19/01/1999	19/01/1999	-	Strike off	NO
4	L17115TZ1992PLC003798	K G DENIM LIMITED	Director	03/11/2003	03/11/2003	-	Active	NO
5	U40101TZ2006PLC012972	ANANDHI POWER LIMITED	Director	31/07/2006	31/07/2006	-	Active	NO
6	U65910TZ1983PTC001300	THANIKSHA TEXTILES PRIVATE LIMITED	Director	18/07/2012	18/07/2012	-	Active	NO

Name :

Mr. Vydianathaswamy Jagadisan

Designation :

Director

Address :

Old No.2, New No.3, First Main Road, Gandhi Nagar Adayar, Chennai - 600020, Tamil Nadu, India

Date of Appointment :

31.10.2003

DIN No.:

00058769

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	U65999TZ1994PLC005630	KG FABRIKS LIMITED	Director	26/06/1995	26/06/1995	24/10/2008	Active	NO
2	U31909TG1983PTC003971	PEC POTENTIOMETERS PRIVATE LIMITED	Director	18/09/1995	18/09/1995	-	Active	NO
3	L72300TN1997PLC037550	RAMCO SYSTEMS LIMITED	Director	28/07/2014	15/06/2001	-	Active	NO
4	L17115TZ1992PLC003798	K G DENIM LIMITED	Director	31/10/2003	31/10/2003	-	Active	NO

Name :	Mr. Annamaili Ponnusamy Seturaaman
Designation :	Additional Director
Address :	129, West Sambantham Road, Coimbatore South, Coimbatore - 641002, Tamil Nadu, India
Date of Appointment :	05.11.2015
DIN No.:	07331898

KEY EXECUTIVES

Name :	Mr. Subrahmanyam Muthuswamy
Designation :	Company Secretary
Address :	214-B, Peria Subbannan Street, K K Pudur, Coimbatore - 641038, Tamil Nadu, India
PAN No.:	AEQPM4135E
Name :	Mr. Balaji Muthuswamy
Designation :	Chief Financial Officer
Address :	M4, 3rd Floor, Patteeswarar Park, South Block, Ramasamy Layout, K K Pudur, Sai Baba Colony, Coimbatore - 641025, Tamil Nadu, India
PAN No.:	ADOPM3437C

SHAREHOLDING PATTERN

AS ON 30.09.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
		As a % of (A+B+C)
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	9869258	38.47
Bodies Corporate	5162145	20.12
Sub Total	15031403	58.59
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	15031403	58.59
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	5100	0.02
Financial Institutions / Banks	500	0.00
Foreign Institutional Investors	2300	0.01
Sub Total	7900	0.03
(2) Non-Institutions
Bodies Corporate	906028	3.53
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	5209762	20.31
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	3679415	14.34
Any Others (Specify)	819397	3.19
Clearing Members	18141	0.07
Hindu Undivided Families	339810	1.32
Non Resident Indians	461246	1.80
Trusts	200	0.00
Sub Total	10614602	41.38
Total Public shareholding (B)	10622502	41.41
Total (A)+(B)	25653905	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1)	0	0.00
(2)	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	25653905	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing and selling Denim and Apparel Fabrics to fashion brands and retailers in India. The subject is also provides Home Textiles Products.

(Indirect Sources)

Products :

Item Code No.	Product Description
1312	Denim Fabric
1313	Apparel Fabrics
1392	Home Textiles
1392	Others

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	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 :

Company Name :	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 :

Not Divulged

Bankers :

Banker Name :	Indian Bank
Branch :	Not Available
Person Name (With Designation) :	Not Available
Contact Number :	Not Available
Name of Account Holder :	Not Available
Account Number :	Not Available
Account Since (Date/Year of Account Opening) :	Not Available
Average Balance Maintained :	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Available
Account Operation :	Not Available
Remark :	Not Available

• Bank of India
• Allahabad Bank
• State Bank of India
• Indian Overseas Bank
• The South Indian Bank Limited

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Term Loans
Indian Rupee Loan from Bank	609.012	362.433
From Others-House property loan from HDFC Limited	17.204	22.140
Long term maturities of finance lease obligations (Secured by Vehicles on Hire Purchase Loan) There is no case of continuing default as on the Balance Sheet date in repayment of loans and interest	10.709	4.540
Short-term borrowings
Loans repayable on demand
Working Capital Loan from Banks (There are no cases of default in repayment of loan and interest as on date of Balance Sheet)	723.377	656.191
Total	1360.302	1045.304

Note:

Long-term Borrowings

Bank borrowings of Term Loan

• Term loans from Indian Bank (IB), Bank of India (BOI) and Indian Overseas Bank (IOB) are secured by first pari passu charge on (a) all immovable properties situated in (i) 102.1897 acres of land at Jadayampalayam, Alangombu and Karamadai villages in Mettupalayam Taluk, Coimbatore District, Tamil Nadu and (ii) 2155.62 sq. meters of land at Amdha Village, Dharampur Taluk, Valsad District, Gujarat through equitable mortgage created with Indian Bank and (b) all plant and machineries including machineries and other movable fixed assets (excluding vehicles charged to financiers, Peelamedu property & Mumbai property) acquired for the Expansion cum Diversification Scheme (ECDS) and New Capex Plan through Deed of Hypothecation.
• Term loan II from State Bank of India is secured by a first pari passu charge on all plant and machineries acquired for the Modernisation cum Expansion Scheme (MCES) through Deed of Hypothecation. Power Plant Term Loan from Indian Bank Rs.148.000 Million, Bank of India Rs.148.000 Million & The South Indian Bank Limited Rs.147.000 Million are secured by pari passu first charges on Assets relating to power plant project and pari passu second charges on current assets of the companies. Indian Bank is holding the original title deeds on its own behalf and on behalf of other Banks. Term loans are also guaranteed by Shri KG Baalakrishnan, Executive Chairman.
• The company has availed Two Term loan & One Corporate Loan from Indian Bank and loan outstanding is - Term Loan III Rs.55.508 Million and Term Loan IV Rs.108.432 Million & Corporate Loan Rs.66.664 Million (Previous year Rs.77.007 Million,Rs.22.673 Million & Rs.Nil). Term Loan III is repayable in 60 monthly installments commencing from 01.09.2013. Last installment is due on 01.08.2018.
• Rate of Interest 13.00% p.a. as at year end. (Previous year 14.00% p.a). Term Loan IV is repayable 72 monthly installments commencing from 03.10.2015. Last installment is due on 03.10.2021. Rate of Interest 12.25% p.a as at year end. (Previous year 12.25% p.a.). Corporate Loan is repayable in 12 equal quarterly installments commencing from 01.06.2015. Last installment is due on 01.03.2018 Rate of interest 12.30% p.a. as at year end.
• The company has availed two term loans from Bank of India and loan outstanding is - Term Loan III Rs.73.856 Million & Term Loan IV Rs.111.732 (Previous year Rs.90.856 Million & Rs.23.828 Million). Term Loan III is repayable in 60 monthly installments commencing from 01.07.2014. Last installment is due on 01.06.2019. Rate of Interest 14.00% p.a as at year end. (Previous year 14.50% p.a).
• Term Loan IV is repayable 96 monthly installments commencing from 25.12.2015. Last installment is due on 25.12.2023. Rate of Interest 12.25% p.a as at year end (Previous Year 12.25% p.a.). The company has availed one term loan from State Bank of India and loan outstanding is - Term Loan II for Rs.60.933 Million (Previous year Rs.84.934). Term Loan II is repayable in 60 monthly installments commencing from 01.04.2013. Last Installment is due on 01.03.2018. Rate of Interest 13.60% p.a. as at year end.(Previous year 14.40% p.a).
• The company has availed two term loan from Indian Overseas Bank and loan outdtanding is- Term loan I Rs.8.550 Million & Term Loan II Rs.11.354 Million (Previous year Rs.18.754 Million & Rs.25.643 Million) Term Loan I is repayable in 20 quarterly installments commencing from 19.06.2012. Last Installment is due on 19.03.2017. Rate of Interest 14.00% p.a. as at year end.(Previous year 14.00% p.a..) and Term loan II is repayable in 60 monthly installments commencing from 28.04.2012. Last Installment is due on 28.03.2017. Rate of Interest 14.25% p.a. as at year end.(Previous year 14.25% p.a.)
• The company has availed a term loan from The South Indian Bank Ltd and loan outstanding is- Rs.111.982 (Previous year Rs.23.830 Million). Term Loan is repayable in 84 quarterly installments commencing from 25.12.2015. Last Installment is due on 25.12.2022. Rate of Interest 12.25% p.a. as at year end (Previous year 12.25% p.a.).

Term Loan from others :

HDFC Ltd Loan Rs.230 Million for Mumabi Office Premises - mortgage of the property - Office space in mumbai. The company has availed a term Loan from HDFC Ltd and loan outstanding is Rs.17.204 Million (Previous year Rs.19.855 Million). Term Loan is repayable in 84 monthly installments commencing from 20.11.2014. Last Installment is due on 20.11.2021. Rate of Interest 13.50% p.a. as at year end (Previous year 13.50% p.a.).

SHORT-TERM BORROWINGS

Working capital facilities from Indian Bank Consortium (Indian Bank, Bank of India, Allahabad Bank, State Bank of India and The South Indian Bank Limited) are secured by a first pari passu charge on the whole of the current assets through Deed of Hypothecation and second pari passu charge on (a) all the immovable properties situated in (i) 102.1897 acres of land at Jadayampalayam, Alangombu and Karamadai Villages in Mettupalayam Taluk, Coimbatore District, Tamil Nadu and (ii) 2155.62 sq. meters of land at Amdha Village, Dharampur Taluk, Valsad District, Gujarat through equitable mortgage created with Indian Bank and (b) all plant and machineries (excluding vehicles charged to financiers, Peelamedu property & Mumbai property) through Deed of Hypothecation. The entire working capital facilities are also guaranteed by Shri KG Baalakrishnan, Executive Chairman.

Auditors :
Name :	Gopalaiyer and Subramanian Chartered Accountants
Address :	Coimbatore, Tamil Nadu, India
Collaborators :	Not Available
Membership :	Not Available
Subsidiary Company:	Trigger Apparels Limited KG Denim (USA) Inc
Other Related Party :	Sri Kannapiran Mills Limited Sri Balamurugan Textile Processing Limited KG Fabriks Limited Enterprise Telesys Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
31000000	Equity Shares	Rs. 10/- each	Rs. 310.000 Million
1000000	10% Cumulative Redeemable Preference Shares	Rs. 100/- each	Rs. 100.000 Million
32000000			Rs. 410.000 Million

Issued Capital :

No. of Shares	Type	Value	Amount
25691305	Equity Shares	Rs. 10/- each	Rs. 256.913 Million
			Rs. 256.913 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25653905	Equity Shares	Rs. 10/- each	Rs. 256.539 Million
	(Add): Forfeited Shares		Rs. 0.112 Million
			Rs. 256.651 Million

Reconciliation of the number of shares

Equity Shares	Number of Shares
Shares outstanding at the beginning of the year	25653905
Shares issued during the year	--
Shares outstanding at the end of the year	25653905

Details of equity shares held by shareholders holding more than 5% shares:

Name of Shareholder	Number of Shares	% holding
Sri Kannapiran Mills Limited	3065183	11.95
KG Baalakrishnan	2578560	10.05
B Srihari	2231859	8.70
B Sriramulu	2208659	8.61
B Sathyabama	1886500	7.35
Total	11970761	46.66

Terms and Conditions of Equity Shares:

The Company has only one class of Equity Shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share. In the event of liquidation the Equity Shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts in proportion of their shareholding. There are no shares allotted as fully paid without payments being received in cash, bonus shares or shares bought back.

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	256.651	256.651	256.651
(b) Reserves & Surplus	355.603	419.702	376.204
(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)	612.254	676.353	632.855
(3) Non-Current Liabilities
(a) long-term borrowings	636.925	389.113	421.645
(b) Deferred tax liabilities (Net)	77.586	127.281	130.200
(c) Other long term liabilities	27.135	24.000	25.496
(d) long-term provisions	26.546	22.264	22.622
Total Non-current Liabilities (3)	768.192	562.658	599.963
(4) Current Liabilities
(a) Short term borrowings	723.377	656.191	563.823
(b) Trade payables	1249.403	1231.445	1066.455
(c) Other current liabilities	291.525	276.352	241.164
(d) Short-term provisions	74.610	23.964	23.880
Total Current Liabilities (4)	2338.915	2187.952	1895.322
TOTAL	3719.361	3426.963	3128.140
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	978.269	1204.135	1119.864
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	566.739	71.505	47.941
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	53.727	53.684	55.327
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	63.501	115.213	36.117
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1662.236	1444.537	1259.249
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1237.809	1123.898	1103.753
(c) Trade receivables	417.794	424.406	378.581
(d) Cash and cash equivalents	82.105	89.462	83.707
(e) Short-term loans and advances	194.655	179.359	186.322
(f) Other current assets	124.762	165.301	116.528
Total Current Assets	2057.125	1982.426	1868.891
TOTAL	3719.361	3426.963	3128.140

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	5917.833	5918.646	5148.277
	Other Income	26.413	30.905	36.315
	TOTAL SALES	5944.246	5949.551	5184.592
Less	EXPENSES
	Cost of Materials Consumed	3737.549	3691.761	3020.877
	Purchases of Stock-in-Trade	0.987	0.397	0.006
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(112.331)	(78.765)	(65.371)
	Other Manufacturing Expenses	1218.794	1272.860	1138.768
	Employees benefits expense	304.585	269.825	233.107
	Other expenses	285.386	278.616	245.733
	TOTAL EXPENSES	5434.970	5434.694	4573.120
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	509.276	514.857	611.472
Less	FINANCIAL EXPENSES	279.667	280.515	257.630
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	229.609	234.342	353.842
Less	DEPRECIATION/ AMORTISATION	209.788	133.460	119.170
	PROFIT/ (LOSS) BEFORE TAX	19.821	100.882	234.672
Less	TAX	17.712	35.023	79.393
	PROFIT/ (LOSS) AFTER TAX	2.109	65.859	155.279
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	2478.964	2315.479	1833.142
	TOTAL EARNINGS	2478.964	2315.479	1833.142
	IMPORTS
	Raw Materials	62.701	114.687	143.326
	Chemicals	149.752	116.150	105.490
	Spares & Components	23.764	20.684	70.051
	Fuel	144.408	134.435	0.000
	Capital Goods	9.438	52.458	105.161
	TOTAL IMPORTS	390.063	438.414	424.028
	Earnings / (Loss) Per Share (Rs.)	0.08	2.57	6.05

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	152.577	200.221	182.828
Cash generated from operations	565.042	527.325	576.172
Cash generated from (Used) operations
Cash generated from Operating Activities	516.130	489.382	497.115

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.04	1.11	3.02
Operating Profit Margin (PBIDT/Sales)	(%)	8.61	8.70	11.88
Return on Total Assets (PBT/Total Assets}	(%)	0.64	3.06	7.76
Return on Investment (ROI) (PBT/Networth)		0.03	0.15	0.37
Debt Equity Ratio (Total Debt /Networth)		2.47	1.84	1.85
Current Ratio (Current Asset/Current Liability)		0.88	0.91	0.99

STOCK PRICES

Face Value	Rs. 10.00 /-
Market Value	Rs. 59.40/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	256.651	256.651	256.651
Reserves & Surplus	376.204	419.702	355.603
Net worth	632.855	676.353	612.254
long-term borrowings	421.645	389.113	636.925
Short term borrowings	563.823	656.191	723.377
Current Maturities of Long term debt	182.828	200.221	152.577
Total borrowings	1168.296	1245.525	1512.879
Debt/Equity ratio	1.846	1.842	2.471

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	5148.277	5918.646	5917.833
		14.964	(0.014)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	5148.277	5918.646	5917.833
Profit	155.279	65.859	2.109
	3.02%	1.11%	0.04%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	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

PERFORMANCE OF THE COMPANY

The Company has two main product divisions viz., Denim, Apparel Fabric and Home Textiles.

During the year ended 31.03.2015, total Fabric production was 31.600 Million meters as against 30.900 lakh meters in 2013-14. Sale of Fabric was 30.900 lakh meters as against 30.000 lakh meters in 2013-14. The profitability for the year was lower mainly on account of additional depreciation to the extent of Rs.70.200 Million as per the new Companies Act, 2013.

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS	31.03.2015
Claims against the company not acknowledged as debt:	0
Disputed excise / customs duties	47.663
Disputed income tax (in respect of disputed excise / custom duties and income tax demands, the company feels that there will be no financial impact, Based on legal opinions obtained.)	15.400
Guarantees	0
Guarantees given to bank for loan to subsidiary	65.100
Guarantees given on behalf of associates for fulfillment of their export obligation under epcg scheme	19.300
Other money for which the company is contingently liable Bills discounted with banks	454.493
	0
Commitments Estimated Amount Of Contracts Remaining To Be Executed In Capital Account And Not Provided For	25.700
Total	627.656

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30TH SEPTEMBER 2015

(Rs. In Million)

Particulars	3 Months Ended	3 Months Ended	Half Year Ended
	30.09.2015	30.06.2015	30.09.2015
	UNAUDITED
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	1523.400	1555.400	3078.800
b) Other operating income	87.200	38.700	125.900
Total income from Operations(net)	1610.600	1594.100	3204.700
2.Expenditure
a) Cost of material consumed	977.500	852.400	1829.900
b) Purchases of stock in trade	0.000	0.000	0.000
c)Changes in inventories of finished goods, work-in-progress and stock-in-trade	(10.800)	121.000	110.200
d) Power and Fuel	105.200	111.700	216.900
e) Stores and Chemicals	214.700	195.800	410.500
f) Employees benefit expenses	88.600	87.000	175.600
g) Depreciation and amortization expenses	45.600	42.800	88.400
h) Other expenditure	68.900	67.500	136.400
Total expenses	1489.700	1478.200	2967.900
3. Profit from operations before other income and financial costs	120.900	115.900	236.800
4. Other income	0.000	0.000	0.000
5. Profit from ordinary activities before finance costs	120.900	115.900	236.800
6. Finance costs	78.200	77.900	156.100
7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	42.700	38.000	80.700
8. Exchange Currency Fluctuation Loss/ (Gain)	0.000	0.000	0.000
9. Profit from ordinary activities before tax Expense:	42.700	38.000	80.700
10. Tax expenses
-- Current Tax	8.200	7.700	15.900
-- MAT (Credit) / Reversal	(15.900)	0.000	(15.900)
-- Deferred Tax	32.100	14.300	46.400
11. Net Profit / (Loss) from ordinary activities after tax (9-10)	18.300	16.000	34.300
12. Extraordinary Items (net of tax expense)	0.000	0.000	0.000
13. Net Profit / (Loss) for the period (11 -12)	18.300	16.000	34.300
14. Paid-up equity share capital (Nominal value Rs.10/- per share)	256.700	256.700	256.700
15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year	--	--	--
16.i) Earnings per share (before extraordinary items) of Rs.10/- each) (not annualised):
(a) Basic and diluted	0.71	0.62	1.34
A. Particulars of shareholding
1. Public Shareholding
- Number of shares	10622502	10622502	10622502
- Percentage of shareholding	41.41%	41.41%	41.41%
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	2000000	2000000	2000000
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	13.31%	13.31%	13.31%
Percentage of shares (as a % of total share capital of the company)	7.80%	7.80%	7.80%
b) Non Encumbered
Number of shares	13031403	13031403	13031403
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	86.69%	86.69%	86.69%
Percentage of shares (as a % of total share capital of the company)	50.79%	50.79%	50.79%
B. Investor Complaints
Pending at the beginning of the quarter	NIL
Receiving during the quarter	8
Disposed of during the quarter	8
Remaining unreserved at the end of the quarter	NIL

NOTE:

1. The above Un-audited results were reviewed by the Audit committee and approved by the Board of directors at their meeting held in 5th November, 2015.
2. The auditors of the Company have carried out a Limited Review of the aforesaid financial results for the quarter ended 30th September, 2015 in term of clauses 41 of the Listing Agreement with stock exchange.
3. The company has only one business segment (i.e. Textile Business. Hence, segment wise reporting is not applicable.
4. Figures of the previous year/ quarter / half year ended have been regrouped/ re-arranged wherever necessary.

STANDALONE STATEMENT OF ASSTES AND LIABILITIES AS ON 30.09.2015

Rs. In Million

SOURCES OF FUNDS	30.09.2015 (Unaudited)
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	256.700
(b) Reserves & Surplus	389.900
(c) Pending Call Money	0.000
Sub-total Shareholders’	646.600
(2) Non-Current Liabilities
(a) long-term borrowings	607.100
(b) Deferred tax liabilities (Net)	124.000
(c) Other long term liabilities	24.000
(d) long-term provisions	27.000
Sub-total of Non-Current liabilities	782.100
(3) Current liabilities
(a) Short term borrowings	633.600
(b) Trade payables	1399.300
(c) Other current liabilities	280.100
(d) Short-term provisions	17.400
Sub-total of Current liabilities	2330.400
TOTAL	3759.100
II. ASSETS
(1) Non-current assets
(a) Fixed Assets	1453.400
(b) Capital Work In Progress	33.800
(c) Deferred tax assets (net)	0.000
(d) Non-current Investments	53.600
(e) Long Term Loans and Advances	59.300
Sub-total of Non-Current Assets	1600.100
(2) Current assets
(a) Current investments	0.000
(b) Inventories	1206.300
(c) Trade receivables	582.100
(d) Cash and cash equivalents	89.200
(e) Short-term loans and advances	189.500
(f) Other current assets	91.900
Sub-total of Current Assets	2159.000
TOTAL	3759.100

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10592450	29/07/2015	1,511,161.00	ICICI BANK	NO-5, DAR COMPLEX, FIRST FLOOR, SHASTRI ROAD, RAM NAGAR, COIMBATORE, TAMIL NADU - 641009, INDIA	C64901267
2	10559619	24/03/2015	100,000,000.00	INDIAN BANK	COIMBATORE MAIN BRANCH, 31, VARIETY HALL ROAD, COIMBATORE, TAMIL NADU - 641001, INDIA	C49303175
3	10556346	28/02/2015	4,100,000.00	BMW INDIA FINANCIAL SERVICES PRIVATE LIMITED	DLF CYBER CITY, PHASE II, BUILDING NO.10 TOWER C,  14TH FLOOR, GURGAON, HARYANA - 122002, INDIA	C47404058
4	10548789	19/01/2015	11,609,000.00	ICICI BANK	NO-5, DAR COMPLEX, FIRST FLOOR, SHASTRI ROAD, RAM NAGAR, COIMBATORE, TAMIL NADU - 641009, INDIA	C43417179
5	10541132	18/12/2014	469,360.00	ICICI BANK	NO-5, DAR COMPLEX, FIRST FLOOR, SHASTRI ROAD, RAM  NAGAR, COIMBATORE, TAMIL NADU - 641009, INDIA	C39494562
6	10541134	18/12/2014	469,360.00	ICICI BANK	NO-5, DAR COMPLEX, FIRST FLOOR, SHASTRI ROAD, RAM  NAGAR, COIMBATORE, TAMIL NADU - 641009, INDIA	C39495296
7	10540503	26/11/2014	870,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL  WEST, MUMBAI, MAHARASHTRA - 400013, INDIA	C39159553
8	10509218	21/06/2014	479,000.00	ICICI BANK	NO- 5, DAR COMPLEX, FIRST FLOOR, SHASTRI ROAD, R  AMNAGAR, COIMBATORE, TAMIL NADU - 641009, INDIA	C11444486
9	10506370	28/06/2014 *	74,100,000.00	THE SOUTH INDIAN BANK LIMITED	GANDHIPURAM BRANCH, C K N BUILDING, 100 FEET ROAD,  NEAR KARPAGAM THEATRE, GANDHIPURAM, COIMBATORE,  TAMIL NADU - 641012, INDIA	C12280541
10	10465114	18/10/2013	23,000,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	HDFC HOUSE, 29, KAMARAJ ROAD, COIMBATORE, TAMIL NADU - 641018, INDIA	B91534743

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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. 66.84
UK Pound	1	Rs. 101.04
Euro	1	Rs. 73.05

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KRN
Report Prepared by :	SYL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.