MIRA INFORM REPORT

Report No. :	355165
Report Date :	18.12.2015

IDENTIFICATION DETAILS

Name :	SRI BHAGIRATH TEXTILES LIMITED
Formerly Known As :	BHAGIRATH TEXTILES INDUSTRIES LIMITED (w.e.f. 22.01.1997) BHAGIRATH TEXTILES INDUSTRIES PRIVATE LIMITED
Registered Office :	Saryodaya Cloth Market, Gandhi Baug, Nagpur- 440002, Maharashtra
Tel. No.:	91-712-2769035
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.02.1991
Com. Reg. No.:	11-060542
Capital Investment / Paid-up Capital :	Rs. 73.046 Million
CIN No.: [Company Identification No.]	U17100MH1991PLC060542
IEC No.:	0300025726
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACB8691F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The business segment has been considered as the primary segment for reporting. Manufacturing activity: Yarn Trading activity: Cotton Bales/Yarn (Registered Activity)
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 771000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was established in the year 1991 and it is engaged in manufacturing and selling of cotton/blended yarn. For the financial year ended 2014, the company has reported marginal growth of 7.03% in its revenue profile but failed to maintain profit margin report low margin at 0.82% during the year under review. Rating derive strength from the promoter’s experience in the textile business established track record of operations, diversified clientele base and longstanding relationship with customers. Rating also takes into consideration company’s satisfactory financial profile marked by its sound networth base along with favorable gap between trade payables to its receivables and moderate debt overage indicators. However, rating strength is partially offset by working capital nature of business operations and susceptibility of cotton yarn exports to government regulations and fragmented and cyclical nature of the industry. Trade relations are reported as fair. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. Note : Management of the company has not filed its financial record with government department for the year 2015 and same are not available from any sources.

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	Bank facilities-fund based – LT loan (Suspended) : BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	30.03.2015

Rating Agency Name	CARE
Rating	Bank facilities-fund based ST Cash (Suspended) : A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	30.03.2015

Reason for suspension : Absence of adequate 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.

LOCATIONS

Registered Office :	Saryodaya Cloth Market, Gandhi Baug, Nagpur- 440002, Maharashtra, India
Tel. No.:	91-712-2769035
Fax No.:	91-712-2765845
E-Mail :	info@sbtlindia.com
Website :	www.sbtlindia.com
Factory :	Village: Mohali, Taluka Kalmeshwar, Nagpur – 441502 Maharashtra, India
Tel. No.:	91-7118-233502
Fax No.:	91-7118-233505
E-Mail :	bhagirathmill@sbtlindia.com

DIRECTORS

As on 31.03.2015

Name :

Mr. Ramesh Bhagirath Rander

Designation :

Managing Director

Address :

Sarvodaya Cloth Market, Gandhibagh, Nagpur-440002, Maharashtra, India

Date of Birth/Age :

17.12.1961

Date of Appointment :

27.02.1991

PAN No.:

AAVPR8829D

DIN No.:

00290726

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	U17100MH1991PLC060542	SRI BHAGIRATH TEXTILES LIMITED	Managing director	27/02/1991	27/02/1991	-	Active	NO
2	U51900MH1996PTC103127	SHRIGOPAL RAMESHKUMAR SALES PRIVATE LIMITED	Managing director	07/10/1996	07/10/1996	-	Active	NO
3	U65999MH1997PTC106249	SRI BHAGIRATH COTTON COMPANY PRIVATE LIMITED	Director	28/02/1997	28/02/1997	-	Active	NO
4	U14102TZ1988PTC002162	SRI MAHESHWARY GRANITES PRIVATE LIMITED	Director	31/03/2001	31/03/2001	-	Active	NO
5	U45200MH2004PTC146408	ANJANEYA CONSTRUCTION PRIVATE LIMITED	Director	25/07/2005	25/07/2005	10/02/2009	Active	NO
6	U45203MH2003PTC140181	ANUKAVI CONSTRUCTIONS PRIVATE LIMITED	Director	16/10/2006	16/10/2006	-	Active	NO
7	U85110MH2005PLC150811	GANGA CARE HOSPITAL LIMITED	Additional director	04/10/2013	17/01/2007	30/09/2014	Active	NO
8	U45203MH2007PTC172575	MULTIURBAN INFRA SERVICES PRIVATE LIMITED	Director	24/07/2007	24/07/2007	06/02/2009	Active	NO
9	U45208TN2006PTC100096	THE GREAT INDIAN LINEN AND TEXTILE INFRASTRUCTURE COMPANY PRIVATE LIMITED	Nominee director	29/09/2007	29/09/2007	15/12/2009	Active	NO
10	U15100MH1951PTC010577	MADHYA PRADESH MERCHANTS CHAMBER OF COMMERCE PRIVATE LIMITED	Managing director	15/07/2008	03/07/2008	-	Active	NO

Name :

Mr. Shreegopal Rander

Designation :

Director

Address :

Old No33, Bashyakaralu Road, West Rs Puram, Coimbatore-641002, Tamilnadu, India

Date of Appointment :

01.07.1995

PAN No.:

AABHR9739Q

DIN No.:

00571432

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	U17100MH1991PLC060542	SRI BHAGIRATH TEXTILES LIMITED	Director	01/07/1995	01/07/1995	-	Active	NO
2	U67120TZ1997PTC007770	SGMR SECURITIES PRIVATE LIMITED	Director	29/05/1998	29/05/1998	-	Active	NO
3	U14102TZ1988PTC002162	SRI MAHESHWARY GRANITES PRIVATE LIMITED	Managing director	28/03/2001	28/03/2001	-	Active	NO

Name :

Mr. Madhusudan Bhagirath Rander

Designation :

Director

Address :

111/112, Shastri Nagar, Chittorgarh-312001, Rajasthan, India

Date of Birth/Age :

12.09.1958

Date of Appointment :

01.07.1995

DIN No.:

00571513

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	U14101RJ1984PTC002981	MAHESHWARI MARBLES PRIVATE LIMITED	Director	06/04/1992	06/04/1992	-	Active	NO
2	U17100MH1991PLC060542	SRI BHAGIRATH TEXTILES LIMITED	Director	01/07/1995	01/07/1995	-	Active	NO
3	U51900MH1996PTC103127	SHRIGOPAL RAMESHKUMAR SALES PRIVATE LIMITED	Director	07/10/1996	07/10/1996	16/12/2014	Active	NO
4	U14101RJ2002PTC017755	MAHESHWARI MARMO PRIVATE LIMITED	Director	05/08/2002	05/08/2002	-	Active	NO
5	U70101RJ2010PTC032478	HARMONY ARCADES PRIVATE LIMITED	Director	29/07/2010	29/07/2010	03/12/2014	Active	NO

Name :

Mr. Anurag Shrigopal Rander

Designation :

Director

Address :

115, Bashyakaralu Road, Rs Puram West, Coimbatore-641002, Tamilnadu, India

Date of Birth/Age :

22.02.1974

Date of Appointment :

30.09.1996

PAN No.:

ABWPR8278A

DIN No.:

00571457

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	U17100MH1991PLC060542	SRI BHAGIRATH TEXTILES LIMITED	Director	30/09/1996	30/09/1996	-	Active	NO
2	U67120TZ1997PTC007770	SGMR SECURITIES PRIVATE LIMITED	Director	29/05/1998	29/05/1998	-	Active	NO
3	U14102TZ1988PTC002162	SRI MAHESHWARY GRANITES PRIVATE LIMITED	Director	31/03/2001	31/03/2001	-	Active	NO

Name :

Mr. Praveen Madhusudan Rander

Designation :

Director

Address :

Sarvodaya Cloth Market, Gandhibagh, Nagpur-440002, Maharashtra, India

Date of Appointment :

06.11.2007

PAN No.:

AESPR7011L

DIN No.:

00577879

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	U45200MH2006PTC161413	NIRMITIGAURAV INFRASTRUCTURE PRIVATE LIMITED	Director	27/04/2006	27/04/2006	14/01/2009	Active	NO
2	U17100MH1991PLC060542	SRI BHAGIRATH TEXTILES LIMITED	Director	06/11/2007	06/11/2007	-	Active	NO
3	U17121GJ2007PTC051184	ALLIANCE TEXTILES PRIVATE LIMITED	Director	10/11/2007	10/11/2007	-	Active	NO
4	U51900MH1996PTC103127	SHRIGOPAL RAMESHKUMAR SALES PRIVATE LIMITED	Director	26/11/2007	26/11/2007	-	Active	NO
5	U15100MH1951PTC010577	MADHYA PRADESH MERCHANTS CHAMBER OF COMMERCE PRIVATE LIMITED	Director	03/07/2008	03/07/2008	-	Active	NO
6	U45200MH2012PTC238967	GINGER INFRASTRUCTURE PRIVATE LIMITED	Director	12/06/2014	19/12/2012	15/07/2015	Active	NO
7	U31908MH2012PTC231257	ARC-TECH WELDING PRIVATE LIMITED	Director	01/02/2013	01/02/2013	-	Active	NO
8	U45200MH2004PTC146408	ANJANEYA CONSTRUCTION PRIVATE LIMITED	Director	03/06/2013	03/06/2013	-	Active	NO
9	U45203MH2007PTC172575	MULTIURBAN INFRA SERVICES PRIVATE LIMITED	Director	25/08/2014	25/08/2014	-	Active	NO
10	U45201MH2015PTC262813	HINGANGHAT INTEGRATED TEXTILE PARK PRIVATE LIMITED	Director	20/07/2015	20/07/2015	-	Active	NO

Name :

Mr. Shravan Tikamdas Madnani

Designation :

Director

Address :

Santosh Bhavan, 719-A, Vijay Nagar, Chhaoni, Nagpur-440013, Maharashtra, India

Date of Appointment :

16.03.2015

DIN No.:

02133796

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	U65999MH1997PTC106249	SRI BHAGIRATH COTTON COMPANY PRIVATE LIMITED	Director	28/02/1997	28/02/1997	31/12/2012	Active	NO
2	L74140MH1982PLC026882	INDO PACIFIC PROJECTS LIMITED	Director	11/08/2005	11/08/2005	31/07/2008	Active	NO
3	U17100MH1991PLC060542	SRI BHAGIRATH TEXTILES LIMITED	Director	16/03/2015	16/03/2015	-	Active	NO

Name :

Mr. Sandeep Nandlal Chandak

Designation :

Director

Address :

49, Vihar Apartments, Behind Centre, Point Hotel, Ramdaspeth, Nagpur-440010, Maharashtra, India

Date of Appointment :

16.03.2015

DIN No.:

00309190

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	U45203MH2003PTC140181	ANUKAVI CONSTRUCTIONS PRIVATE LIMITED	Director	28/04/2003	28/04/2003	28/09/2011	Active	NO
2	U45200MH2004PTC146408	ANJANEYA CONSTRUCTION PRIVATE LIMITED	Director	19/05/2004	19/05/2004	28/08/2012	Active	NO
3	U17100MH1991PLC060542	SRI BHAGIRATH TEXTILES LIMITED	Director	16/03/2015	16/03/2015	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Ramesh B. Rander	565000
Madhusudan B. Rander	530000
Bhagirath Ramesh Rander HUF	228500
Anirudha R. Rander	547500
Anurag S. Rander	180000
Bhagirath S Rander HUF	40000
Navin Madusudan Rander	132000
Kavita B. Shah	3000
Shreegopal B. Rander	200000
Srikant S. Rander	410000
Shreegopal B. Rander HUF	40000
Mandhusudan B. Rander HUF	80000
Praveen Madhusudan Rander	334500
Ushadevi M. Rander	150000
Ramesh B. Rander HUF	550000
Saroj R. Rander	587500
Rohit Ramesh Rander	597000
Bharti A. Rander	200000
Shrigopal Rameshkumar Sales Private Limited, India	500000
Pooja Praveen Rander	345000
Sri Bhagirath Cotton Private Limited	300000
Jaideep Dealers Private Limited	398936
Cherry Tie Private Limited	385638
Total	7304574

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	21.70
Directors or relatives of Directors	78.30
Total	100.00

BUSINESS DETAILS

Line of Business :	The business segment has been considered as the primary segment for reporting. Manufacturing activity: Yarn Trading activity: Cotton Bales/Yarn (Registered Activity)
Products :	Cotton Bales Yarn
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark:	Not Available

No. of Employees :

Not Available

Bankers :

Bank Name	State Bank of India
Branch	Industrial Finance Bank S. Sai Complex, Amravati Road, Bharat Nagar, Nagpur - 440033, Maharashtra, India
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 (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	0.000	3.197
Short-term borrowings
Loans repayable on demand (The above working capital loan is repayable on demand and is secured by hypothecation of entire stocks comprising raw materials, stock-in-process, finished goods, consumable stores and spares, book debts, outstanding moneys receivable claims and bills of the company. Further secured by charge on other movable/immovable assets of the company and the collaterals of the guarantors.)	390.629	368.465
Total	390.629	371.662

Auditors :
Name :	K H Surjan and Company Chartered Accountants
Address :	Office of T.R. Surjan, First Floor, Sadodaya Complex, C.A. Road , Nagpur-440002, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	CDUPS2604H
Memberships :	--
Collaborators :	--
Associates :	Alliance Textile Private Limited, India Anukavi Constructions Private Limited, India Shrigopal Rameshkumar Sales Private Limited, India

CAPITAL STRUCTURE

After 30.09.2014

Authorised Capital : Rs.240.000 Million

Issued, Subscribed & Paid-up Capital : Rs.236.559 Million

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7,304,574	Equity Shares	Rs.10/- each	Rs.73.046 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	73.046	73.046	65.200
(b) Reserves & Surplus	197.025	176.249	140.250
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	29.500
Total Shareholders’ Funds (1) + (2)	270.071	249.295	234.950
(3) Non-Current Liabilities
(a) long-term borrowings	104.277	120.751	146.067
(b) Deferred tax liabilities (Net)	22.913	27.227	30.773
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	127.190	147.978	176.840
(4) Current Liabilities
(a) Short term borrowings	390.629	368.465	396.158
(b) Trade payables	166.043	119.374	134.502
(c) Other current liabilities	29.677	66.843	79.903
(d) Short-term provisions	8.466	4.396	0.569
Total Current Liabilities (4)	594.815	559.078	611.132
TOTAL	992.076	956.351	1022.922
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	274.121	302.828	317.412
(ii) Intangible Assets	4.611	5.398	4.284
(iii) Capital work-in-progress	23.657	3.313	0.689
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.002	0.002	0.007
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	17.330
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	302.391	311.541	339.722
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	214.978	181.692	271.383
(c) Trade receivables	329.878	368.567	332.088
(d) Cash and cash equivalents	4.625	7.496	4.820
(e) Short-term loans and advances	140.204	87.055	74.909
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	689.685	644.810	683.200
TOTAL	992.076	956.351	1022.922

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2493.886	2333.078	2245.902
		Other Income	17.435	12.930	23.844
		TOTAL (A)	2511.321	2346.008	2269.746
Less	EXPENSES
		Cost of Materials Consumed	834.206	784.518	818.209
		Purchases of Stock-in-Trade	1347.539	1144.978	827.379
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(47.607)	24.174	278.759
		Employees benefits expense	47.520	39.496	34.093
		Other expenses	199.312	220.566	181.893
		TOTAL (B)	2380.970	2213.732	2140.333
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		130.351	132.276	129.413
Less	FINANCIAL EXPENSES (D)		54.256	62.647	78.276
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		76.095	69.629	51.137
Less/ Add	DEPRECIATION/ AMORTISATION (F)		47.948	48.225	48.149
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		28.147	21.404	2.988
Less	TAX (H)		7.371	7.060	0.097
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		20.776	14.344	2.891
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		107.794	93.450	90.559
	BALANCE CARRIED TO THE B/S		128.570	107.794	93.450
	Earnings / (Loss) Per Share (Rs.)		2.84	1.96	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	4.401	34.600	35.700
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	84.120	133.221	234.266

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.83	0.61	0.13
Operating Profit Margin (PBIDT/Sales)	(%)	5.23	5.67	5.76
Return on Total Assets (PBT/Total Assets}	(%)	2.91	2.25	0.29
Return on Investment (ROI) (PBT/Networth)		0.10	0.09	0.01
Debt Equity Ratio (Total Debt /Networth)		1.85	2.10	2.46
Current Ratio (Current Asset/Current Liability)		1.16	1.15	1.12

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	65.200	73.046	73.046
Reserves & Surplus	140.250	176.249	197.025
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	29.500	0.000	0.000
Net worth	234.950	249.295	270.071
long-term borrowings	146.067	120.751	104.277
Short term borrowings	396.158	368.465	390.629
Current maturities of long-term debts	35.700	34.600	4.401
Total borrowings	577.925	523.816	499.307
Debt/Equity ratio	2.460	2.101	1.849

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	2245.902	2333.078	2493.886
		3.882	6.893

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	2245.902	2333.078	2493.886
Profit	2.891	14.344	20.776
	0.13%	0.61%	0.83%

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	No
8]	Designation of contact person	No
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	Yes
12]	Voter Id Card No. of Proprietor / Partners	No
13]	Type of business	Yes
14]	Line of Business	Yes
15]	Export/import details (if applicable)	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

Segmental Reporting

The business segment has been considered as the primary segment for reporting.

Manufacturing activity: Yarn

Trading activity: Cotton Bales/Yarn

OPERATIONS:

During the year the Company has been able to achieve sales and other income of Rs. 2511.321 Million as compared to Rs.2346.008 Million in the last financial year.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Intercorporate borrowings	90.300	6.495
Other loans and advances	3.007	100.417
Loans and advances from related parties	10.970	10.642
Total	104.277	117.554

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10265326	05/09/2014 *	1,190,900,000.00	State Bank of India	INDUSTRIA FINANCE BRANCH, 5, SAI COMPLEX, AMRAVATI ROAD, BHARAT NAGAR, NAGPUR, Maharashtra - 440033  , INDIA	C24129256
2	90163577	05/09/2014 *	1,190,900,000.00	State Bank of India	INDUSTRIA FINANCE BRANCH, 5, SAI COMPLEX, AMRAVAT  I ROAD, BHARAT NAGAR, NAGPUR, Maharashtra - 440033  , INDIA	C24127078

* Date of charge modification

FIXED ASSETS

• Land
• Building
• Plant and machinery
• Furniture and fixture
• Vehicle
• Computer
• Office equipment

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.66.29
UK Pound	1	Rs.101.88
Euro	1	Rs.73.98

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		49

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.