MIRA INFORM REPORT

Report No. :	351452.2
Report Date :	08.12.2015

IDENTIFICATION DETAILS

Name :	SERVALL ENGINEERING WORKS PRIVATE LIMITED (w.e.f 03.07.2002)

Formerly Known As :	SERWELL REIHANSAL PRIVATE LIMITED

Registered Office :	31 (Old 10-Z), Bharathi Park, 7^th Cross, Saibaba Colony, Coimbatore – 641011, Tamilnadu
Tel. No.:	91-422-4333344

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	07.08.1989

Com. Reg. No.:	18-002498

Capital Investment / Paid-up Capital :	Rs.25.465 Million

CIN No.: [Company Identification No.]	U52110TZ1989PTC002498

IEC No.:	3299003976

TAN No.: [Tax Deduction & Collection Account No.]	CMBS05563F

PAN No.: [Permanent Account No.]	AAECS2949H

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter and Seller of Paper Making Machines and its spares and accessories. (Confirmed by Management)

No. of Employees :	More than 250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 488000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company incorporated in the year 1989, having satisfactory track. Rating takes into consideration sound financial risk profile of the company marked by adequate networth base and comfortable debt level in FY14. However, the company has reported marginal decrease in sales turnover, however has reported decent increase in its profit in the year under consideration. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of long track record of business operations, the company can be considered for business dealing with usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Surendra
Designation :	Accounts Head
Contact No.:	91-4254-308308
Date :	28.11.2015

LOCATIONS

Registered Office/ Head Office:	31 (Old 10-Z), Bharathi Park, 7^th Cross, Saibaba Colony, Coimbatore – 641011, Tamilnadu, India
Tel. No.:	91-422-4333344
Fax No.:	91-422-4333355
E-Mail :	spptvl@gmail.com accounts@servallengg.com sales@servallengg.com
Website :	http://www.servallengg.com
Area :	5250 Sq. ft.
Location :	Owned

Factory :	Karamadai, Mettupalayam Road, Coimbatore - 641104, Tamilnadu, India
Tel. No.:	91-4254-308308
Fax No.:	91-4254-308408
E-Mail :	sales@servallengg.com
Area :	75000 Sq. ft.
Location :	Owned

Regional Office 1 :	639, Sector 15/A, Faridabad – 121007, Haryana, India
Tel. No.:	91- 129-2286623

Regional Office 2 :	H. No. 16-11-511/B2, 4^th Floor, Vijay Sai Castle, Bhavani Nagar, Dilsuknagar, Hyderabad – 500060, Telangana, India

Overseas Representatives :	Located : · Europe · Singapore · Malaysia · Philippines · Indonesia

DIRECTORS

As on 30.09.2014

Name :

Mr. Yarlagada Shivaramprasad

Designation :

Managing Director

Address :

44, West Club Road, Central, Coimbatore - 641018, Tamilnadu, India

Date of Birth/Age :

11.11.1964

Date of Appointment :

01.04.2011

DIN No.:

00010734

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	U29230TZ1989PTC002499	TECHNO SPIN PRIVATE LIMITED	Director	07/08/1989	07/08/1989	31/12/2012	Active	NO
2	U52110TZ1989PTC002498	SERVALL ENGINEERING WORKS PRIVATE LIMITED	Managing director	01/04/2011	07/08/1989	-	Active	NO
3	U21012TZ1980PTC000899	DANALAKSHMI PAPER MILLS PRIVATE LIMITED	Director	26/03/1990	26/03/1990	09/09/2015	Active	NO
4	U02102TZ1984PTC001432	SERVALAKSHMI PAPER AND BOARDS PRIVATE LIMITED	Whole-time director	01/01/2012	26/03/1990	-	Amalgamated	NO
5	L21012TN2005PLC092783	SERVALAKSHMI PAPER LIMITED	Managing director	26/09/2014	12/02/2007	-	Active	NO

Name :

Mr. Rangaswamy Ramswamy

Designation :

Director

Address :

247-B, New No 210, Alagesan Road, Saibaba Colony, Coimbatore - 641011, Tamilnadu, India

Date of Birth/Age :

12.03.1939

Date of Appointment :

11.05.1999

DIN No.:

00010572

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	U21012TZ1980PTC000899	DANALAKSHMI PAPER MILLS PRIVATE LIMITED	Director	01/01/2014	23/01/1980	09/09/2015	Active	NO
2	U27310TZ1981PTC001063	MONARCH MACHINE TOOLS PRIVATE LIMITED	Director	05/06/1981	05/06/1981	31/12/2012	Active	NO
3	U45201TZ1984PTC001435	KODAI HILL PROPERTIES PRIVATE LIMITED	Director	04/07/1984	04/07/1984	31/12/2012	Active	NO
4	U02102TZ1984PTC001432	SERVALAKSHMI PAPER AND BOARDS PRIVATE LIMITED	Managing director	01/10/1989	01/10/1989	-	Amalgamated	NO
5	U52110TZ1989PTC002498	SERVALL ENGINEERING WORKS PRIVATE LIMITED	Director	11/05/1999	11/05/1999	-	Active	NO
6	U72200TZ2000PTC009254	SERVALL INFOTECH INDIA PRIVATE LIMITED	Director	21/03/2000	21/03/2000	-	Strike off	NO
7	L21012TN2005PLC092783	SERVALAKSHMI PAPER LIMITED	Whole-time director	26/09/2014	03/11/2005	-	Active	NO

Name :

Mrs. Nirupa Sriramulu

Designation :

Director

Address :

150 B, Tea Estate Compound, Race Course, Coimbatore - 641018, Tamilnadu, India

Date of Birth/Age :

23.03.1969

Date of Appointment :

07.08.1989

DIN No.:

00010442

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	U52110TZ1989PTC002498	SERVALL ENGINEERING WORKS PRIVATE LIMITED	Director	07/08/1989	07/08/1989	-	Active	NO
2	U02102TZ1984PTC001432	SERVALAKSHMI PAPER AND BOARDS PRIVATE LIMITED	Director	01/01/2007	26/03/1990	-	Amalgamated	NO
3	U21012TZ1980PTC000899	DANALAKSHMI PAPER MILLS PRIVATE LIMITED	Whole-time director	01/01/2012	10/06/2000	-	Active	NO
4	U72200TZ2000PTC009254	SERVALL INFOTECH INDIA PRIVATE LIMITED	Director	25/01/2001	25/01/2001	-	Strike off	NO
5	L21012TN2005PLC092783	SERVALAKSHMI PAPER LIMITED	Director	29/09/2007	12/02/2007	31/03/2010	Active	NO
6	U45201TZ1984PTC001435	KODAI HILL PROPERTIES PRIVATE LIMITED	Director	30/09/2013	31/12/2012	-	Active	NO

Name :

Mr. Duraisamynaidu Muthusamy

Designation :

Director

Address :

Muthalapuram, Ethilode, Nilakottai Taluk, Dindigal - 624219, Tamilnadu, India

Date of Birth/Age :

11.09.1949

Date of Appointment :

09.09.2000

DIN No.:

00010588

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	U21012TZ1980PTC000899	DANALAKSHMI PAPER MILLS PRIVATE LIMITED	Director	01/07/2010	01/04/1992	-	Active	NO
2	U52110TZ1989PTC002498	SERVALL ENGINEERING WORKS PRIVATE LIMITED	Director	09/09/2000	09/09/2000	-	Active	NO
3	L21012TN2005PLC092783	SERVALAKSHMI PAPER LIMITED	Director	26/09/2014	12/02/2007	-	Active	NO
4	U02102TZ1984PTC001432	SERVALAKSHMI PAPER AND BOARDS PRIVATE LIMITED	Director	29/09/2010	13/02/2010	-	Amalgamated	NO

Name :

Mrs. Shobana Shivaram Prasad

Designation :

Director

Address :

247-B, New No 210 Alagesan Road, Saibaba Colony, Coimbatore - 641011, Tamilnadu, India

Date of Birth/Age :

18.06.1966

Date of Appointment :

01.01.2007

DIN No.:

00010727

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	U27310TZ1981PTC001063	MONARCH MACHINE TOOLS PRIVATE LIMITED	Director	31/03/1987	31/03/1987	-	Active	NO
2	U29230TZ1989PTC002499	TECHNO SPIN PRIVATE LIMITED	Director	07/08/1989	07/08/1989	-	Active	NO
3	U52110TZ1989PTC002498	SERVALL ENGINEERING WORKS PRIVATE LIMITED	Director	01/01/2007	07/08/1989	-	Active	NO
4	U02102TZ1984PTC001432	SERVALAKSHMI PAPER AND BOARDS PRIVATE LIMITED	Whole-time director	01/01/2012	26/03/1990	-	Amalgamated	NO
5	U21012TZ1980PTC000899	DANALAKSHMI PAPER MILLS PRIVATE LIMITED	Director	10/06/2000	10/06/2000	-	Active	NO
6	L21012TN2005PLC092783	SERVALAKSHMI PAPER LIMITED	Director	29/09/2007	12/02/2007	31/03/2010	Active	NO
7	U45201TZ1984PTC001435	KODAI HILL PROPERTIES PRIVATE LIMITED	Director	30/09/2013	31/12/2012	-	Active	NO

Name :

Mr. Moorthy Ganesan

Designation :

Whole-Time Director

Address :

21, M. K. G. Line, Near Mettupalayam Road, Narasimhanaicken Palayam, Coimbatore - 641031, Tamilnadu, India

Date of Birth/Age :

01.06.1957

Date of Appointment :

01.02.2014

DIN No.:

06702957

KEY EXECUTIVES

Name :	Mr. Surendra
Designation :	Accounts Head

Name :	Mr. V. Balakrishnan
Designation :	General Manager - Marketing

Name :	Mr. Manoj Gupta
Designation :	Assistance General Manager - Marketing

Name :	Mr. N. Veera Venkayya
Designation :	Regional Manager - Marketing (East and South)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Shobana Shivaram Prasad	1428944
Jagenberg Papier Technik GmbH, Germany	351829
Nirupa Sriramulu	262112
Shree Man Ram Prasad	456948
Yarlagada Shivaramprasad	46517
B Sriramulu	100
Total	2546450

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	13.82
Directors or relatives of Directors	86.18
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Seller of Paper Making Machines and its spares and accessories. (Confirmed by Management)

Products :	Paper Machinery Head Box Wire Part Top Former Press Section Dryer Section Size Press Calendar Pope Reel

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Finished Goods
Countries :	Germany Middle East Countries European Countries South Africa Italy Malaysia Turkey

Imports :
Products :	Raw Material
Countries :	Germany Singapore Japan United Kingdom Canada

Terms :
Selling :	Depend

Purchasing :	Depend

GENERAL INFORMATION

Suppliers :

Reference :	Siemens Limited, Coimbatore, Tamilnadu, 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

· Festo Control Limited, Coimbatore, Tamilnadu, India

· Shanthi Gears Limited, Coimbatore, Tamilnadu, India

Customers :

Reference :	Tamilnadu Newsprint Limited Trichy District, Tamilnadu, 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

· Sri Venkatesa Paper and Board Limited, Udumalpet, Tamilnadu, India

· Shreyans Paper Mills Limited, Punjab, India

No. of Employees :

More than 250 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Mid - Corporate Group, Commercial Branch, 1443, Trichy Road, P. B. No. 3902, Coimbatore - 641018, Tamilnadu, 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

· Indian Overseas Bank, Ramalinga Nagar Branch, Saibabacolony, Coimbatore – 641012, Tamilnadu, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loan From Indian Overseas Bank (Secured by 1st charge on the fixed assets and second charge on the current assets of the Company on parripasu basis) (Rate of interest 14.50 %, Repayable in installments of Rs. 1.201 million) (Period and amount of continuing default Rs. Nil)	13.761	24.035
Long term maturities of finance lease obligations Hire Purchase loans : (Secured by Hypothecation of Specific Assets) (Rate of interest 10.75%)	0.192	2.529
Less : Unmatured financial Charges	(0.041)	(0.192)
SHORT TERM BORROWING
Cash Credit	121.814	95.037
Packing Credit	0.000	13.404
Buyer Credit	1.323	5.835
(All the loans are Secured by 1^st charge on the Current Assets and 2^nd charge on the Fixed Assets of the Company on Pari Passu basis and also personally guaranteed by Managing Director) (Rate of Interest 15.5%) (Period and amount of continuing default Rs. Nil)
Total	137.049	140.649

Auditors :
Name :	S. Krishnamoorthy and Company Chartered Accountants
Address :	Kanapathy Towers, 3^rd Floor, No. 139/A-1, Sathy Road, Ganapathy, Coimbatore - 641006, Tamilnadu, India
PAN No.:	AALFS4188C

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	Not Available

Other Related Parties:	Danalakshmi Paper Mills Private Limited Vijayalakshmi Paper Mills Servalakshmi Papers Limited Technospin Private Limited Sri Lakshimi Engineering Works Monarch Machine Tools Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

3000000	Equity Shares	Rs.10/- each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2546450	Equity Shares	Rs.10/- each	Rs. 25.465 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	25.465	25.465	25.465
(b) Reserves & Surplus	145.461	140.45	139.287
(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)	170.926	165.915	164.752

(3) Non-Current Liabilities
(a) long-term borrowings	13.912	26.372	40.544
(b) Deferred tax liabilities (Net)	22.730	24.348	25.195
(c) Other long term liabilities	117.327	98.723	26.621
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	153.969	149.443	92.360

(4) Current Liabilities
(a) Short term borrowings	123.137	114.276	148.946
(b) Trade payables	71.973	76.575	89.606
(c) Other current liabilities	94.555	84.097	120.643
(d) Short-term provisions	3.019	4.360	4.371
Total Current Liabilities (4)	292.684	279.308	363.566

TOTAL	617.579	594.666	620.678

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	159.623	176.464	190.077
(ii) Intangible Assets	0.352	0.352	0.352
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	136.932	136.932	136.932
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.736	0.735	0.794
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	297.643	314.483	328.155

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	141.746	90.733	156.778
(c) Trade receivables	91.712	108.265	94.458
(d) Cash and cash equivalents	11.839	7.069	19.108
(e) Short-term loans and advances	73.454	72.454	21.132
(f) Other current assets	1.185	1.662	1.047
Total Current Assets	319.936	280.183	292.523

TOTAL	617.579	594.666	620.678

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Net Sales	304.637	449.692	378.670
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA

Less	EXPENSES		NA	NA	NA
		TOTAL (B)	NA	NA	NA

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		43.105	44.704	47.714

Less	INTEREST AND FINANCIAL CHARGES (D)		21.566	25.000	27.192

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		21.539	19.704	20.522

Less/ Add	DEPRECIATION/ AMORTISATION (F)		16.394	17.347	18.505

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		5.145	2.357	2.017

Less	TAX (H)		(0.395)	1.003	0.056

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		5.540	1.354	1.961

	PRIOR YEAR ADJUSTMENT		(0.338)	0.000	0.000

	SURPLUS IN PROFIT AND LOSS ACCOUNT		5.202	1.354	1.961

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		77.181	75.827	73.866

	BALANCE CARRIED TO THE B/S		82.383	77.181	75.827

	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	72.372	221.985	43.013
	TOTAL EARNINGS		72.372	221.985	43.013

	IMPORTS
		Raw Materials	11.026	25.745	32.581
	TOTAL IMPORTS		11.026	25.745	32.581

	Earnings / (Loss) Per Share (Rs.)		2.18	0.53	0.77

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	10.409	14.412	14.412
Net Cash generated from operations before tax	19.264	(43.826)	47.234
Net cash flow from operating activities	18.041	(45.676)	45.734

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.82	0.30	0.52

Operating Profit Margin (PBIDT/Sales)	(%)	14.15	9.94	12.60

Return on Total Assets (PBT/Total Assets}	(%)	1.07	0.51	0.42

Return on Investment (ROI) (PBT/Networth)		0.03	0.01	0.01

Debt Equity Ratio (Total Debt /Networth)		0.86	0.93	1.24

Current Ratio (Current Asset/Current Liability)		1.09	1.00	0.80

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	25.465	25.465	25.465
Reserves & Surplus	139.287	140.450	145.461
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	164.752	165.915	170.926

long-term borrowings	40.544	26.372	13.912
Short term borrowings	148.946	114.276	123.137
Current Maturities Of Long-Term Debts	14.412	14.412	10.409
Total borrowings	203.902	155.060	147.458
Debt/Equity ratio	1.238	0.935	0.863

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)
Net Sales	378.670	449.692	304.637
		18.756	(32.257)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	378.670	449.692	304.637
Profit	1.961	1.354	5.540
	0.52%	0.30%	1.82%

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	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)	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 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	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OPERATIONS:

Net Sales during the year was Rs.304.637 million (Previous year Rs.449.692 million). Export turnover has gone down from Rs.221.985 million to Rs.72.371 million.

INDEX OF CHARGES:

NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

90001061

09/11/2010 *

288,000,000.00

INDIAN OVERSEAS BANK

N.S.R.ROAD, RAMALINGA NAGAR BRANCH,, SAIBABA COLONY, COIMBATORE - 641011, TAMILNADU, INDIA

B02406551

90003553

12/12/2013 *

90,600,000.00

STATE BANK OF INDIA

MID-CORPORATE GROUP, COMMERCIAL BRANCH, 1443, TRICHY ROAD, P.B.NO.3902, COIMBATORE - 641018, TAMILNADU, INDIA

B95026472

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Furniture and Fitting

· Electrical Fittings

· Vehicles

· Temporary Wooden Structure

· Office Appliance

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.80
UK Pound	1	Rs.100.49
Euro	1	Rs.72.52

INFORMATION DETAILS

Information Gathered by :	SUP

Analysis Done by :	KIN

Report Prepared by :	ASN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.

MIRA INFORM REPORT

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