MIRA INFORM REPORT

Report No. :	354353
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	UNIPRODUCTS (INDIA) LIMITED
Registered Office :	Jarthal Village Road, 84 KM Stone, Delhi Jaipur Road, P O Sangvari, Rewari – 123401, Haryana
Tel. No.:	--
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.12.1982
Com. Reg. No.:	05-014785
Capital Investment / Paid-up Capital :	Rs.166.099 Million
CIN No.: [Company Identification No.]	U45201HR1982PLC014785
IEC No.:	0588146773
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACU0224D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacture of Wall to Wall Carpets, Interlinings, Moulded Carpets, Noise, Vibration and Hashness (NVH) Insulation Parts, Roof Liner Fabrics and Heat Shields. (Registered Activity)
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 2200000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1982 and it is the manufacturer of automotive components and non-woven fabric. It is an established company having satisfactory track. For the financial year ended 2014, the company has recorded decline in sales revenue by 3% against the previous year. Further, it has incurred loss of Rs. 23.591 million from its business operations as compared to the profit of Rs. 8.227 Million recorded in the previous year. However, rating takes into consideration of company’s acceptable financial risk profile supported by its adequate networth base along with fair debt coverage indicators. Rating also takes into account of company’s long track record of business operations in the automotive industry. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long-term Bank Facilities (Suspended) = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	August 28, 2015

Rating Agency Name	ICRA
Rating	Short-term Bank Facilities (Suspended) = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	August 28, 2015

Note : Reason for Suspension : Absence of requisite information

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 DECLINED

Management Non-Cooperative

LOCATIONS

Registered Office :	Jarthal Village Road, 84 KM Stone, Delhi Jaipur Road, P O Sangvari, Rewari – 123401, Haryana, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	preeti@unitexindia.com

DIRECTORS

As on 31.03.2015

Name :

Mr. Surrinder Lal Kapur

Designation :

Director

Address :

161 A/1 Western Avenue, Sainik Farms, New Delhi - 110062, India

Date of Birth/Age :

07.03.1937

Qualification :

M.A., LL.B., I.A.S.

Experience :

52 Years

Date of Appointment :

27.12.2000

DIN No.:

00033312

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	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	27/12/2000	27/12/2000	-	Active	NO
2	U74110DL2001PTC111284	Grant Thornton Advisory Private Limited	Director	23/08/2002	23/08/2002	28/03/2007	Active	NO
3	U74999DL2002PLC117052	ALCHEMIST ASSET RECONSTRUCTION COMPANY LIMITED	Director	30/09/2014	31/12/2003	-	Active	NO
4	U74999DL2004PTC128172	ISHARA FOUNDATION FOR FINANCE AND RURAL DEVELOPMENT	Director	09/08/2004	09/08/2004	31/10/2012	Active	NO
5	L65190MH2003PLC143249	YES BANK LIMITED	Nominee director	27/04/2010	27/01/2005	27/01/2013	Active	NO
6	U74999DL1977PTC008682	ANIKA INTERNATIONAL Private LIMITED	Director	01/02/2005	01/02/2005	01/01/2009	Active	NO
7	U18101DL2003PLC123708	SARA TEXTILES LIMITED	Director	30/08/2005	30/08/2005	27/03/2010	Active	NO
8	L34300DL2005PLC139163	SHIVAM AUTOTECH LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
9	L45201DL1983PLC016821	ANSAL HOUSING AND CONSTRUCTION LIMITED	Director	25/09/2014	15/05/2006	-	Active	NO
10	U92199DL1999PTC102156	AERENS ENTERTAINMENT ZONE Private LIMITED	Director	27/09/2007	22/05/2007	13/05/2008	Active	NO
11	L85110GJ1994PLC022543	CLARIS LIFESCIENCES LIMITED	Director	30/09/2009	26/09/2008	-	Active	NO
12	L22122TG2002PLC040110	DECCAN CHRONICLE HOLDINGS LIMITED	Additional director	11/02/2014	11/02/2014	18/02/2014	Active	NO

Name :

Mr. Prithvi Raj Khanna

Designation :

Director

Address :

House No. 70, Sunder Nagar, New Delhi -110003, India

Date of Birth/Age :

02.07.1933

Qualification :

B.Com (H), F.C.A

Experience :

51 Years

Date of Appointment :

21.11.2005

DIN No.:

00048800

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	L74899DL1978PLC009038	INDAG RUBBER LIMITED	Director	25/07/2014	20/01/2000	-	Active	NO
2	L45101DL1967PLC004759	ANSAL PROPERTIES AND INFRASTRUCTURE LIMITED	Director	30/08/2003	30/08/2003	-	Active	NO
3	L74899DL1989PLC035140	DCM SHRIRAM INDUSTRIES LIMITED	Director	30/05/2014	05/10/2005	-	Active	NO
4	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	21/11/2005	21/11/2005	-	Active	NO
5	U65991MH2002GOI137867	UTI ASSET MANAGEMENT COMPANY LIMITED	Director	13/01/2006	13/01/2006	20/08/2015	Active	NO
6	U64201DL1984PLC019062	CONTROLS AND SWITCHGEAR CONTACTORS LIMITED	Director	17/02/2006	17/02/2006	30/07/2007	Active	NO
7	U74999MH2006NPL163665	NABHA DEVELOPMENT INITIATIVE	Director	08/08/2006	08/08/2006	10/08/2006	Active	NO
8	U34200DL2008PTC172214	CARNATION AUTO INDIA Private LIMITED	Director	27/01/2009	27/01/2009	10/12/2013	Active	NO
9	U74999DL1979PTC009494	SELECT INFRASTRUCTURE PRIVATE LIMITED	Director	29/09/2009	08/05/2009	-	Active	NO
10	U31909DL1971PLC005672	C&S ELECTRIC LIMITED	Director	18/12/2009	09/07/2009	-	Active	NO
11	U25203DL2006PLC153993	Continental India Limited	Director	29/09/2009	20/08/2009	14/03/2011	Active	NO
12	U65900MH2011PTC217430	UTI CAPITAL PRIVATE LIMITED	Director	08/06/2012	25/08/2011	20/08/2015	Active	NO

Name :

Mr. Avinash Parkash Gandhi

Designation :

Director

Address :

C-2/14, Safdarjung, Development Area, New Delhi, 110016, Delhi, India

Date of Birth/Age :

01.10.1938

Qualification :

B.Sc. Engineering (Mechanical)

Experience :

49 Years

Date of Appointment :

30.10.2003

DIN No.:

00161107

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	L74899DL1981PLC012804	LUMAX INDUSTRIES LIMITED	Director	31/07/2002	31/07/2002	-	Active	NO
2	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	30/10/2003	30/10/2003	-	Active	NO
3	U34300MH1990PLC055300	FAIRFIELD ATLAS LIMITED	Director	31/10/2003	31/10/2003	14/03/2014	Active	NO
4	U74140DL2004PTC127802	AVINAR CONSULTING PRIVATE LIMITED	Director	22/07/2004	22/07/2004	-	Active	NO
5	U74899DL1994PTC060689	PANALFA AUTOMOTIVE PRIVATE LIMITED	Director	21/10/2004	21/10/2004	05/10/2012	Active	NO
6	L31900DL1983PLC016304	HAVELLS INDIA LIMITED	Director	09/07/2014	12/05/2005	-	Active	NO
7	U34300DL1996PTC081210	CONTINENTAL ENGINES Private Limited	Director	06/10/2005	06/10/2005	22/12/2011	Active	NO
8	L74899DL1985PLC020401	MINDA CORPORATION LIMITED	Director	10/09/2014	28/01/2006	-	Active	NO
9	L29130MH1962PLC012340	FAG BEARINGS INDIA LIMITED	Director	21/04/2011	20/04/2006	-	Active	NO
10	L74999DL1979PLC009937	INDO ALUSYS INDUSTRIES LIMITED	Director	25/09/2006	31/07/2006	-	Active	NO
11	U28920KA1995PLC017793	ALUCAST AUTO PARTS LIMITED	Director	23/01/2007	23/01/2007	01/09/2008	Active	NO
12	U29221DL2007PLC160549	PANALFA AUTOELEKTRIK LIMITED	Director	19/03/2007	19/03/2007	05/10/2012	Active	NO
13	U34300DL2007PTC157344	MINDA VAST ACCESS SYSTEMS PRIVATE LIMITED	Director	23/09/2008	31/05/2007	-	Active	NO
14	U28910PB2001PLC024790	R.N.GUPTA AND COMPANY LIMITED	Director	30/09/2011	03/05/2008	18/03/2014	Active	NO
15	U34102TG1998PLC029977	M.L.R.MOTORS LIMITED	Director	30/09/2009	20/02/2009	10/11/2012	Active	NO
16	U29253DL2006PTC155275	MINDA FURUKAWA ELECTRIC PRIVATE LIMITED	Director	30/09/2009	03/03/2009	-	Active	NO
17	L34300DL1971PLC005634	CLUTCH AUTO LIMITED	Director	29/09/2009	18/04/2009	15/03/2013	Active	NO
18	U34300DL1988PTC030280	TECH AUTO PRIVATE LIMITED	Director	06/03/2010	06/03/2010	07/03/2014	Active	NO
19	U31905DL1981PLC127345	MINDA SAI LIMITED	Director	05/09/2014	09/04/2011	-	Active	NO
20	U29309TN1996PLC035377	HYUNDAI MOTOR INDIA LIMITED	Director	30/05/2015	31/03/2015	-	Active	NO
21	U50103TG2006PTC073037	HYUNDAI MOTOR INDIA ENGINEERING PRIVATE LIMITED	Director	15/09/2015	31/03/2015	-	Active	NO
22	U31900DL1991PLC043974	QRG ENTERPRISES LIMITED.	Additional director	06/10/2015	06/10/2015	-	Active	NO

Name :

Mr. Ashwan Kapur

Designation :

Managing Director

Address :

15, Ring Road, Lajpat Nagar-Iv, New Delhi - 110024, India

Date of Birth/Age :

04.08.1955

Date of Appointment :

01.08.2015

DIN No.:

00568432

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	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Managing director	01/08/2015	02/12/1982	-	Active	NO
2	U74899DL1990PTC039170	METORE MINING PRIVATE LIMITED	Director	09/02/1990	09/02/1990	-	Active	NO
3	U51396DL1994PTC059081	UNICEL IMPEX PRIVATE LIMITED	Director	17/05/1994	17/05/1994	-	Active	NO
4	U45201DL2001PTC111859	SAMARTH REALTERS PRIVATE LIMITED	Director	24/11/2001	24/11/2001	-	Strike off	NO
5	U25206DL2005PTC143671	JUKEN UNIPRODUCTS PRIVATE LIMITED	Director	20/09/2010	14/12/2005	-	Active	NO
6	U55101DL2007PTC170719	DARRAMEKS HOTELS & DEVELOPERS PRIVATE LIMITED	Director	26/11/2007	26/11/2007	-	Active	NO
7	U28999DL2014PTC271533	UNIPRODUCTS KYOSHIN PRIVATE LIMITED	Director	29/09/2014	12/09/2014	-	Active	NO

Name :

Mr. Ravinder Mehra

Designation :

Director

Address :

36, Senneville Road, Senneville, H9X1B6, Canada

Date of Birth/Age :

04.08.1941

Date of Appointment :

24.02.1983

DIN No.:

00687921

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	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	24/02/1983	24/02/1983	-	Active	NO
2	U55101DL2007PTC170719	DARRAMEKS HOTELS & DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	18/02/2010	-	Active	NO

Name :

Mr. Bhaskar Dutta

Designation :

Director

Address :

84, Banarsi Dass Estate, Timarpur, Delhi - 110054, India

Date of Birth/Age :

10.03.1935

Date of Appointment :

07.12.1988

DIN No.:

00715001

Name :

Mr. Arun Kumar Seth

Designation :

Director

Address :

30A, Friends Colony West, New Delhi -110065, India

Date of Birth/Age :

15.01.1942

Qualification :

M.B.A. (University of Leeds)

Experience :

50 Years

Date of Appointment :

05.09.2009

DIN No.:

00794656

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	U25206DL2005PTC143671	JUKEN UNIPRODUCTS PRIVATE LIMITED	Director	14/12/2005	14/12/2005	-	Active	NO
2	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	05/09/2009	17/11/2008	-	Active	NO
3	U28999DL2014PTC271533	UNIPRODUCTS KYOSHIN PRIVATE LIMITED	Alternate director	29/09/2014	29/09/2014	-	Active	NO

Name :

Mr. Arun Mehra

Designation :

Director

Address :

83, Lakeshore Road., Beaconsfield QC, Beaconsfield, H9W4H7, Canada

Date of Birth/Age :

03.09.1974

Date of Appointment :

18.09.2015

DIN No.:

06507579

KEY EXECUTIVES

Name :	Mr. Aditya Capoor
Designation :	Chief Finance Officer
Address :	H-20, Sector 41, Noida - 201303, Uttar Pradesh, India
Date of Appointment :	28.07.2014
PAN No.:	AAGPC1461M
Name :	Ms. Preeti Gandhi
Designation :	Secretary
Address :	23/136, Lodhi Colony, New Delhi - 110003, India
Date of Appointment :	24.07.2008
PAN No.:	AKVPG9563F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 16.09.2014

SHAREHOLDERS DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 16.09.2014

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	75.01
Bodies corporate	11.13
Directors or relatives of Directors	8.85
Other top fifty shareholders	2.93
Others	2.08
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacture of Wall to Wall Carpets, Interlinings, Moulded Carpets, Noise, Vibration and Hashness (NVH) Insulation Parts, Roof Liner Fabrics and Heat Shields. (Registered Activity)

Products :

Item Code No.	Product Description
57050019	Floor Covering
87089900	NVH Products
56039100	Non-Woven Light Products

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	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 :

Reference :	Ford Nissan FIAT Honda Maruti Suzuki Automotive
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 :

Information declined by the management

Bankers :

Bank Name	State Bank of India
Branch	2^nd Floor, Chandralok Building, 36 Janpath, New Delhi – 110001, 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
Bank Name	The Hongkong and Shanghai Banking Corporation Limited
Branch	25 Barakhamba Road, New Delhi – 110001, India
Bank Name	State Bank of Hyderabad
Branch	Commercial Branch, 74, Janpath, New Delhi – 110001, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from others	412.231	548.231
(Term loans are secured by way of mortgage by deposit of respective title deeds in repect of all the Company's immovable properties, both present and future, on a pari-passu basis.)
Loans taken for fixed assets	0.000	0.316
Short-term borrowings
Working capital loans from banks	79.411	64.989
(secured by hypothecation of inventories and book debts, both present and future, and by way of mortgage of all movable properties on pari-passu basis. It carries interest @ 13%)
Total	491.642	613.536

Auditors :
Name :	S. N. Dhawan and Company Chartered Accountants
Address :	C 37, Connaught Place, New Delhi – 110001, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAQFS0580H
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Darrameks Hotels & Developers Private Limited, India U55101DL2007PTC170719
Joint venture :	Juken Uniproducts Private Limited, India U25206DL2005PTC143671
Associates :	Deux Montagnes Investments Limited, Mauritius Universal Paper Export Co. Limited, Canada Unicel Impex Private Limited, India U51396DL1994PTC059081
Holding company :	Uniproducts (Mauritius) Limited, Mauritius

CAPITAL STRUCTURE

As on 16.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16609881	Equity Shares	Rs.10/- each	Rs.166.099 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	166.099	124.697	96.932
(b) Reserves & Surplus	608.298	509.858	420.369
(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)	774.397	634.555	517.301
(3) Non-Current Liabilities
(a) long-term borrowings	495.469	702.547	505.059
(b) Deferred tax liabilities (Net)	68.657	77.343	72.910
(c) Other long term liabilities	3.208	3.277	3.327
(d) long-term provisions	6.669	4.757	6.429
Total Non-current Liabilities (3)	574.003	787.924	587.725
(4) Current Liabilities
(a) Short term borrowings	79.411	64.989	257.306
(b) Trade payables	361.202	350.155	258.435
(c) Other current liabilities	225.046	189.116	202.825
(d) Short-term provisions	11.135	14.189	10.335
Total Current Liabilities (4)	676.794	618.449	728.901
TOTAL	2025.194	2040.928	1833.927
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1318.768	1302.423	1202.423
(ii) Intangible Assets	0.112	0.883	1.857
(iii) Capital work-in-progress	2.323	5.234	15.224
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	11.340	11.340	11.340
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	46.402	40.027	45.918
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1378.945	1359.907	1276.762
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	285.780	309.410	276.325
(c) Trade receivables	316.372	294.382	222.835
(d) Cash and cash equivalents	2.189	34.621	12.387
(e) Short-term loans and advances	41.573	42.180	45.303
(f) Other current assets	0.335	0.428	0.315
Total Current Assets	646.249	681.021	557.165
TOTAL	2025.194	2040.928	1833.927

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from Operations	1817.788	1874.670	1526.279
	Other Income	14.504	11.351	11.325
	TOTAL (A)	1832.292	1886.021	1537.604
Less	EXPENSES
	Cost of Materials Consumed	880.012	902.128	792.853
	Purchases of Stock-in-Trade	174.128	196.634	162.590
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	3.132	(29.491)	(47.315)
	Employees benefits expense	252.824	225.460	202.036
	Other expenses	328.782	353.215	314.955
	TOTAL (B)	1638.878	1647.946	1425.119
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	193.414	238.075	112.485
Less	FINANCIAL EXPENSES (D)	108.806	125.105	97.688
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	84.608	112.970	14.797
Less/ Add	DEPRECIATION/ AMORTISATION (F)	115.311	100.310	90.934
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(30.703)	12.660	(76.137)
Less	TAX (H)	(7.112)	4.433	(26.261)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(23.591)	8.227	(49.876)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	71.986	63.759	113.635
	Balance Carried to the B/S (J+K+L-M)	48.395	71.986	63.759
	Earnings / (Loss) Per Share (Rs.)	(1.58)	0.71	(5.45)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	136.316	106.196	108.682
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	196.662	224.974	142.226
Net cash flow from operating activity	194.569	220.844	141.090

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(1.30)	0.44	(3.27)
Operating Profit Margin (PBIDT/Sales)	(%)	10.64	12.70	7.37
Return on Total Assets (PBT/Total Assets}	(%)	(1.53)	0.63	(4.21)
Return on Investment (ROI) (PBT/Networth)		(0.04)	0.02	(0.15)
Debt Equity Ratio (Total Debt /Networth)		0.92	1.38	1.68
Current Ratio (Current Asset/Current Liability)		0.95	1.10	0.76

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	96.932	124.697	166.099
Reserves & Surplus	420.369	509.858	608.298
Net worth	517.301	634.555	774.397
long-term borrowings	505.059	702.547	495.469
Short term borrowings	257.306	64.989	79.411
Current Maturities Of Long-Term Debts	108.682	106.196	136.316
Total borrowings	871.047	873.732	711.196
Debt/Equity ratio	1.684	1.377	0.918

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1526.279	1874.670	1817.788
		22.826	(3.034)

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	1526.279	1874.670	1817.788
Profit / (Loss)	(49.876)	8.227	(23.591)
	(3.27%)	0.44%	(1.30%)

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	No
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

OPERATIONS

The Company has recorded a decline in sales in the financial year 2013-14. Overall sales declined by 3% against the previous year mainly because of the slowdown in the Indian economy.

The pre-tax loss earned by the Company during 2013-14 is Rs.30.703 Million as compared to the pre-tax profit of Rs.12.660 Million recorded during 2012-13. The loss after tax is Rs. 23.591 Million as compared with the profit after tax of Rs.8.227 Million recorded during 2012-13. The automotive sector has remained in the grip of a slowdown, and has witnessed de-growth of 6% compared with FY 2012-13 which is the main reason for the poor performance of the Company during the year.

The Company will continue its efforts to reduce costs and improve efficiencies, tap new business opportunities, diversify its product portfolio, enhance value addition to its customer base and maximize capacity utilization with least cost to improve profitability. With these efforts the Company hopes to generate higher revenues and profitability.

The Company has also invested in new technology and assets for product diversification and to make available adequate manufacturing capacities for the growth that is certain to be achieved in the forthcoming years. A high technology line has been imported during the year for manufacture of technical textiles in the non-woven category.

The Company believes that the set back of the financial year 2013-14 can be reversed only through strenuous efforts in achieving "customer delight" through manufacture of world class products at competitive prices. The Company intends to strengthen its resolve to follow the paradigm of "Customer is King", and to achieve this end, the Company has continued its efforts in implementing Total Productivity Management (TPM) techniques in production. It aims to pursue lean manufacturing diligently for improving efficiencies, productivity and yield. Product diversification and new product development have been identified as thrust areas and several green, recyclable and lighter products have been launched over the years which now contribute steadily to the Company's turnover and profits. They continue to lay emphasis on safety, health, quality systems at all their plants and other cost reductions through VA/VE. Institution of energy audits and implementation of the recommendations to optimise energy consumption, as well as strict control over overhead costs is also given due importance.

FUTURE PROSPECTS

Although the automotive sector may witness moderate growth during 2014-15, the long term outlook continues to be bullish with the cars to be manufactured in India estimated to be around 5 million by the year 2015-16 and over 7.500 million by the year 2020-21. India has become a hub for small cars, as well as for outsourcing of auto components as almost all major global car manufacturers have set up manufacturing facilities in India. Their Company is well established to participate in this growth story through its existing wide range of products which it supplies to most car manufacturers in India. The Company anticipates cost pressures, but plans to maintain its margins through improved productivity, cost reductions, VA/VE measures and focus on high value added products. Further the Company intends to continue to focus on increasing sales of its lifestyle division during 2014-15 by adding new products and new and improved varieties to its existing product portfolio.

JOINT VENTURE WITH JUKEN TECHNOLOGY LIMITED, SINGAPORE

The Company had incorporated a joint venture company namely "Juken Uniproducts Private Limited" under the shareholder's agreement entered into with Juken Technology Limited, a Singapore based company in the year 2005-06. This Company commenced commercial production on July 31, 2006. During the financial year ended March 31, 2014, it has achieved gross sales of Rs. 173.211 Million and profit before tax of Rs. 5.122 Million on the basis of unaudited results. The Company's products are now well established in the Indian and overseas markets, and the Directors are confident that this joint venture will achieve higher sales and profits in the coming financial years.

Subsequent to the acquisition of the Juken group by the Frencken group of Singapore during the FY 2012-13, Juken Uniproducts Private Limited continues to remain a subsidiary of Juken Technology Limited, which it has been since its incorporation. Mr. David Wong continues to remain the Chairman of Juken Uniproducts Private Limited and now also heads the Plastics Division of Frencken Group Limited. The high precision moulded plastics business in India will continue to be routed through Juken Uniproducts Private Limited, but for other businesses of the Frencken group, any Indian operations may be commenced independently.

MANAGEMENT DISCUSSIONS AND ANALYSIS

INDUSTRY STRUCTURE, DEVELOPMENT AND SEGMENT-WISE PERFORMANCE

The Company’s business is distributed between OEM products and lifestyle division products. During the year 2013-14 OEM products continued to contribute a significant part of the Company’s business. All products sale for the year was Rs. 1996.268 Million, registering a decrease of 3% against the previous year. Given below is the segment-wise performance of the above product categories:

OEM Products:

These recorded a sale of Rs.1605.729 Million during the year, registering a decrease of 1.20% against the previous year. During this period, the passenger car segment, to which the company supplies all its products, contracted by 6%. The company continues to retain its leadership position in the market for its product range in the car interiors. It has also maintained its dominant share of business in its products range with the various OEMs.

Significant developments taking place in their product ranges that are likely to benefit us are:

Their innovative products, which provide superior acoustic and insulation properties are preferred by the vehicle manufacturers

The Company has launched greener, lighter and recyclable products into the market as well as products having better fire retardant properties.

Lifestyle Division Products:

Sale of these products was Rs. 390.539 Million during the year, registering a decrease of 10% over the previous year. This is mainly because of the continuing slowdown in the Indian economy. The Company intends to focus its growth efforts on marketing of its product range. It has further diversified its product range during the year. Simultaneously, it has strengthened its distribution network, focused on promoting its indigenously produced needle punch carpets, and added a projects division which aims to provide institutional customers with one-stop solutions for their flooring requirements.

OUTLOOK ON OPPORTUNITIES

The Indian economy grew by about 5% in the fiscal 2013-14, the slowest in a decade, on account of poor performance of manufacturing, agriculture and services sector. Passenger Car sales were down by more than 6% in FY 2013-14 as compared with the previous year. The main reasons were high interest rates and fuel prices, high inflation and indifferent growth in other sectors. Nevertheless, the automotive sector is expected to continue to witness steady growth during the coming years, although a temporary slowdown may be witnessed due to the prevailing high interest costs, a slowdown in the Indian economy and the uncertainty in the global markets. Most overseas automobile companies have set up manufacturing facilities in India to tap the huge domestic market and to take advantage of the low cost of production in the country. They have made India an outsourcing hub for producing high quality components at competitive prices.

With the car manufacturers intending to use the strategy of launching several new models of cars in various price segments, the automobile sector will witness robust growth, and the long term outlook for the sector remains bullish. Uniproducts expects to be a part of this growth by availing these opportunities.

The Company sees continuing growth opportunities for its Lifestyle division, and is adding several varieties to the existing product range to achieve higher market penetration.

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties	70.000	140.000
Other loans and advances	13.238	14.000
Total	83.238	154.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10578064	26/05/2015	686,300,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C57966301
2	10524523	15/09/2014	50,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C27522457
3	10527269	26/05/2015 *	457,500,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C57966442

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Guarantees	1.962	4.935
Other money for which company is contingently liable	233.540	277.168

FIXED ASSETS

• Land
• Buildings
• Office building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Motor vehicles
• Office equipment
• Computer equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.79
UK Pound	1	Rs.101.36
Euro	1	Rs.73.46

INFORMATION DETAILS

Analysis Done by :	HNA
Report Prepared by :	SUJ

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	--
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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.