MIRA INFORM REPORT

Report No. :	355403
Report Date :	19.12.2015

IDENTIFICATION DETAILS

Name :	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED (w.e.f. 29.07.2010)

Formerly Known As :	PEASS INDUSTRIAL ENGINEERS LIMITED PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED

Registered Office :	Post Box No. 128, Maneklal Road, Opposite Railway Yard, Navasari – 396445, Gujarat
Tel. No.:	91-22-61210900

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	11.12.1962

Com. Reg. No.:	04-001177

Capital Investment / Paid-up Capital :	Rs. 15.000 Million

CIN No.: [Company Identification No.]	U29259GJ1962PTC001177

IEC No.:	0888012357

TAN No.: [Tax Deduction & Collection Account No.]	SRTP01473D

PAN No.: [Permanent Account No.]	AABCP3786G

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of manufacturing winding machines including cone winders, precision winders and versa winders and their related spares parts. [Registered activities]

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject was incorporated on 11^th December, 1962. Saurer AG, Switzerland holds 51% stake in the subject company. The manufacturing plant is located at Navsari in South Gujarat. It has satisfactory track record. The rating takes into consideration sound financial risk profile of the company marked by adequate networth base along with comfortable debt level and decent profit margin reported by the company in the financial year ended 2015. Trade relations are fair. Business is active. Payment are reported to be usually correct. The company 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

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

EXTERNAL AGENCY RATING

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 DENIED

Management Non-Cooperative (Tel No.: 91-22-61210900)

LOCATIONS

Registered Office :	Post Box No. 128, Maneklal Road, Opposite Railway Yard, Navasari – 396445, Gujarat, India
Tel. No.:	91-2637-250811 / 240843 / 325101 / 329419
Fax No.:	91-2637-257321
E-Mail :	navsari@peass.com mumbai@peass.com
Website :	http://www.peass.com

Head Office :	Merchant Chambers, 2^nd Floor, 41, New Marine Lines, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-61210900
Fax No.:	91-22-66310570
E-Mail :	mumbai@peass.com

Branch Office 1 :	729, Pocket E, Mayur Vihar Phase II, New Delhi – 110091, India
Tel. No.:	91-11-22773701 / 32445102 / 03
Fax No.:	91-11-22774741
E-Mail :	delhi@peass.com

Branch Office 2 :	P2, 3rd Floor, Red Rose Plaza, 509, D.B. Road, R.S. Puram, Coimbatore – 641002, Tamilnadu, India
Tel. No.:	91-422-2544097 / 3245115 / 4368097
Fax No.:	91-422-2544097
E-Mail :	cbe@peass.com

Branch Office 3 :	Samudra B-201, 2^nd Floor, Sardar Patel Nagar Road, Navrangpura, Ahmedabad – 380006, Gujarat, India
Tel. No.:	91-79-26427665 / 32935112
Fax No.:	91-79-26427665
E-Mail :	ahd@peass.com

DIRECTORS

AS ON 31.03.2015

Name :

Mr. Maheshchandra Purshottamdas Patel

Designation :

Managing Director

Address :

Sitakunj, 164, Maharshi Harve Road, Mumbai - 400020, Maharashtra, India

Date of Birth/Age :

20.04.1937

Date of Appointment :

11.12.1962

DIN No.:

00317403

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	Company/ LLP Status	Defaulting status
1	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED	Managing director	11/12/1962	11/12/1962	Active	NO
2	U65990MH1960PTC011663	ARNO ENTERPRISES PRIVATE LIMITED	Director	26/04/1974	26/04/1974	Active	NO
3	U51109GJ1991PLC041687	PEASS EXPORTS LIMITED	Director	18/07/1991	18/07/1991	Active	NO
4	U51900MH1981PTC025864	MEENANAND TRADERS AND FINANCIERS PRIVATE LIMITED	Director	22/01/1992	22/01/1992	Active	NO
5	U65990MH1981PTC025642	BRINDANAND INVESTMENTS PRIVATE LIMITED	Director	22/01/1992	22/01/1992	Active	NO
6	U67120MH1992PTC065003	BRINDANAND HOLDINGS PRIVATE LIMITED	Director	22/01/1992	22/01/1992	Active	NO
7	U67120MH1992PTC064995	MEENANAND HOLDING PRIVATE LIMITED.	Director	22/01/1992	22/01/1992	Active	NO
8	U29261GJ2001PTC039378	PEASS AUTOMATION PRIVATE LIMITED	Director	03/04/2001	03/04/2001	Active	NO
9	U45200MH2008PTC180848	PEASS INFRA PRIVATE LIMITED	Director	04/04/2008	04/04/2008	Active	NO

Name :

Mr. Bhargav Anilkumar Patel

Designation :

Director

Address :

Nariman Building, First Floor, 136, Maharshi Karve Road, Opposite Cooperage Bus, Mumbai - 400020, Maharashtra, India

Date of Birth/Age :

19.11.1963

Date of Appointment :

11.08.1989

DIN No.:

00318051

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	U65910GJ1984PTC007509	POLOROID INVESTMENT PRIVATE LIMITED	Director	19/07/1986	19/07/1986	-	Active	NO
2	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED	Director	11/08/1989	11/08/1989	-	Active	NO
3	U51109GJ1991PLC041687	PEASS EXPORTS LIMITED	Director	18/07/1991	18/07/1991	-	Active	NO
4	U74999MH1994PTC076322	MODERN MAINTENANCE PRODUCTS (INDIA) PRIVATE LIMITED	Director	09/03/1995	09/03/1995	08/07/2014	Active	NO
5	U29261GJ2001PTC039378	PEASS AUTOMATION PRIVATE LIMITED	Director	03/04/2001	03/04/2001	-	Active	NO
6	U65990MH1960PTC011663	ARNO ENTERPRISES PRIVATE LIMITED	Director	28/11/2006	28/11/2006	-	Active	NO
7	U45200MH2008PTC180848	PEASS INFRA PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
8	L74100MH1993PLC075361	CAMLIN FINE SCIENCES LIMITED	Additional director	08/01/2009	08/01/2009	-	Active	NO
9	U24100MH2008PLC180376	CHEMOLUTIONS CHEMICALS LIMITED	Director	29/06/2010	18/03/2010	14/11/2013	Active	NO
10	L29199GJ1981PLC028741	INTEGRA ENGINEERING INDIA LIMITED	Director	02/05/2014	28/02/2014	-	Active	NO

Name :

Mr. Anand Maheshchandra Patel

Designation :

Director

Address :

Sita Kunj, 164, Maharshi Karve Road, Mumbai - 400020, Maharashtra, India

Date of Birth/Age :

16.07.1971

Date of Appointment :

13.03.1995

DIN No.:

00318118

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	Company/ LLP Status	Defaulting status
1	U51109GJ1991PLC041687	PEASS EXPORTS LIMITED	Director	18/07/1991	18/07/1991	Active	NO
2	U65990MH1960PTC011663	ARNO ENTERPRISES PRIVATE LIMITED	Director	28/06/1993	28/06/1993	Active	NO
3	U51900MH1981PTC025864	MEENANAND TRADERS AND FINANCIERS PRIVATE LIMITED	Director	24/08/1993	24/08/1993	Active	NO
4	U65990MH1981PTC025642	BRINDANAND INVESTMENTS PRIVATE LIMITED	Director	24/08/1993	24/08/1993	Active	NO
5	U67120MH1992PTC065003	BRINDANAND HOLDINGS PVT LTD	Director	24/08/1993	24/08/1993	Active	NO
6	U67120MH1992PTC064995	MEENANAND HOLDING PRIVATE LIMITED	Director	24/08/1993	24/08/1993	Active	NO
7	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS Private Limited	Director	13/03/1995	13/03/1995	Active	NO
8	U29261GJ2001PTC039378	PEASS AUTOMATION PRIVATE LIMITED	Director	03/04/2001	03/04/2001	Active	NO
9	U45200MH2008PTC180848	PEASS INFRA PRIVATE LIMITED	Additional director	17/02/2015	17/02/2015	Active	NO

Name :

Mr. Vineet Goel

Designation :

Director

Address :

Flat No. 34, Arcade, Plot No. 60, Sector 17, Vashi, Navi Mumbai - 400703, Maharashtra, India

Date of Birth/Age :

17.10.1970

Date of Appointment :

17.09.2014

DIN No.:

01993939

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	U74899DL1994PTC063732	AESA AIR ENGINEERING PRIVATE LIMITED	Director	30/09/2008	19/09/2007	20/07/2013	Active	NO
2	U29220KA2008PTC047251	QUICKMILL INDIA PRIVATE LIMITED	Director	22/07/2008	22/07/2008	-	Strike off	NO
3	U51900MH1991PLC061002	BATLIBOI INTERNATIONAL LIMITED	Director	24/07/2008	24/07/2008	17/08/2013	Active	NO
4	U51109MH1950PLC008184	BATLIBOI IMPEX LIMITED	Director	30/08/2008	30/08/2008	17/08/2013	Active	NO
5	U74210MH1959PLC011435	BATLIBOI ENVIRONMENTAL ENGINEERING LIMITED	Director	12/09/2008	12/09/2008	23/08/2013	Active	NO
6	U74999TN1996PTC051693	BATLIBOI ENXCO PRIVATE LIMITED	Director	30/09/2011	11/05/2009	27/07/2013	Active	NO
7	U29253MH2010PTC199933	SCHLAFHORST MACHINES PRIVATE LIMITED	Director	30/07/2014	26/08/2013	-	Active	NO
8	U29253MH2013PTC242042	SAURER TEXTILE SOLUTIONS PRIVATE LIMITED	Whole-time director	01/08/2014	26/08/2013	-	Active	NO
9	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED	Director	17/09/2014	23/09/2013	-	Active	NO
10	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Nominee director	25/10/2013	25/10/2013	-	Active	NO
11	U51504TN2004PTC052525	ZWICK ROELL TESTING MACHINES PRIVATE LIMITED	Director	07/05/2015	14/10/2014	-	Active	NO

Name :

Mr. Zhengping Zeng

Designation :

Director

Address :

Rm. 1206, Building 107, No. 2000 Gu Dai Road, Shanghai - 201101, , China

Date of Appointment :

17.09.2014

DIN No.:

06646679

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	Company/ LLP Status	Defaulting status
1	U29253MH2013PTC242042	SAURER TEXTILE SOLUTIONS PRIVATE LIMITED	Director	30/07/2014	05/07/2013	Active	NO
2	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED	Director	17/09/2014	23/09/2013	Active	NO
3	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Nominee director	25/10/2013	25/10/2013	Active	NO
4	U29253MH2010PTC199933	SCHLAFHORST MACHINES PRIVATE LIMITED	Director	30/07/2014	01/07/2014	Active	NO

Name :

Martin Paul Folini

Designation :

Additional Director

Address :

Allmendboden 23, Kusnacht - 8700, Switzerland

Date of Appointment :

06.05.2015

DIN No.:

07117546

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	Company/ LLP Status	Defaulting status
1	U29253MH2010PTC199933	SCHLAFHORST MACHINES PRIVATE LIMITED	Additional director	06/05/2015	06/05/2015	Active	NO
2	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED	Additional director	06/05/2015	06/05/2015	Active	NO
3	U29253MH2013PTC242042	SAURER TEXTILE SOLUTIONS PRIVATE LIMITED	Additional director	06/05/2015	06/05/2015	Active	NO
4	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	17/07/2015	17/07/2015	Active	NO

KEY EXECUTIVES

Name :	Mr. Smitesh Amul Desai
Designation :	Secretary
Address :	5, Rajnigandha, Tithal Road, Valsad - 396001, Gujarat, India
PAN No.:	ABXPD0755D

MAJOR SHAREHOLDERS

AS ON 31.03.2015

Names of Shareholders	No. of Shares
Anilkumar P Patel (HUF)	12000
Patel Anil Kumar Jyoti	8353
Patel Anil Kumar Bhargav	11259
Patel Purshottamdas Maheshchandra	9103
Kantilal B. Desai (The executor to the estate of Kantilal B. Desai)	20
Patel Maheshchandra Brinda	2065
Patel Maheshchandra Meena	8958
Patel Maheshchandra Anand	8959
Patel Purshothamdas Mahesh	7655
Patel Bhargav Preya	2808
Patel Anilkumar Bhargav (HUF)	2320
Saurer AG (Previously known as S-Textile Swiss AG)	76500

Total	150000

AS ON 17.09.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	51.00
Directors or relatives of directors	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacturing winding machines including cone winders, precision winders and versa winders and their related spares parts. [Registered activities]

Products :	Winding Machines

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Not Divulged

Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

Banker Name :	HDFC Bank Limited
Branch :	Sandoz House, Worli, Mumbai, Maharashtra, 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 :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Indian Overseas Bank, Merchant Chambers, Ground Floor, Opposite SNDT College, New Marine Lines, Mumbai – 400020, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2015 Rs. In Million	31.03.2014 Rs. In Million
Long Term Borrowings
Vehicle Loan	0.983	0.581

Short Term Borrowings
Cash credit from bank	19.178	19.699

Total	20.161	20.280

Auditors :
Name :	V. Sankar Aiyar and Company Chartered Accountants
Address :	2-C, Court Chamber, Marine Lines, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22004465/ 22067440
Fax No.:	91-22-22000649
E-Mail :	mumbai@vsa.co.in
Web site :	www.vsa.co.in
PAN No.:	AAAFV0781D

Memberships :	Not Divulged

Collaborators :	Not Divulged

Holding company :	Saurer AG

Associates :	Saurer (JiangSu) Textile Machinery Co. Limited

Enterprises over which the above persons have control :	· Peass Export Limited · Peass Automation Limited · Arno Enterprises Private Limited

CAPITAL STRUCTURE

AS ON 25.08.2015

Authorised Capital :

No. of Shares	Type	Value	Amount

300,000	Equity Shares	Rs. 100/- each	Rs. 30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

150,000	Equity Shares	Rs. 100/- each	Rs. 15.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	15.000	15.000	15.000
(b) Reserves & Surplus	263.394	253.486	220.250
(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)	278.394	268.486	235.250

(3) Non-Current Liabilities
(a) long-term borrowings	0.983	0.581	1.112
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	7.267	5.901	7.389
Total Non-current Liabilities (3)	8.250	6.482	8.501

(4) Current Liabilities
(a) Short term borrowings	19.178	19.699	45.770
(b) Trade payables	56.779	53.966	46.440
(c) Other current liabilities	43.002	25.865	31.882
(d) Short-term provisions	56.148	64.816	7.568
Total Current Liabilities (4)	175.107	164.346	131.660

TOTAL	461.751	439.314	375.411

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	47.056	46.343	51.396
(ii) Intangible Assets	0.188	0.542	0.490
(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	0.500	0.500	0.500
(c) Deferred tax assets (net)	10.286	9.983	7.158
(d) Long-term Loan and Advances	3.488	3.895	2.777
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	61.518	61.263	62.321

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	75.518	93.584	89.636
(c) Trade receivables	45.818	83.281	88.521
(d) Cash and cash equivalents	228.119	158.438	100.310
(e) Short-term loans and advances	46.838	39.794	31.662
(f) Other current assets	3.940	2.954	2.961
Total Current Assets	400.233	378.051	313.090

TOTAL	461.751	439.314	375.411

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2015	31.03.2014	31.03.2013
	SALES
		Income		651.323	773.594
		Other Income		22.848	17.395
		TOTAL (A)		674.171	790.989	544.200

Less	EXPENSES
		Cost of Materials Consumed		389.600	465.288
		Changes in Inventories of finished goods, work-in-progress		6.241	2.110
		Employee Benefits Expenses		55.429	49.162
		Other Expenses		137.968	155.264
		TOTAL (B)		589.238	671.824	492.100

	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			84.933	119.165	52.100

Less	FINANCIAL EXPENSES (D)			1.651	3.125	6.600

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			83.282	116.040	45.500

Less	DEPRECIATION/ AMORTISATION (F)			13.190	10.530	12.300

	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			70.092	105.510	33.200

Less	TAX (H)			24.077	37.175	11.700

	PROFIT/(LOSS) AFTER TAX (G-H) (I)			46.015	68.335	21.500

	EARNINGS IN FOREIGN CURRENCY
			Exports on F.O.B basis	234.196	332.334	158.918

	IMPORTS
			Raw Material and spare parts	7.142	24.854	19.542

	Earnings Per Share (Rs.)			306.77	455.57	143.33

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	1.084	1.496	1.994
Cash generated from operations	141.625	110.733	NA
Net cash (used by)/ Generated from operating activities	108.238	85.577	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin PAT / Sales	(%)	7.06	8.83	NA

Operating Profit Margin (PBDIT/Sales)	(%)	13.04	15.40	NA

Return on Total Assets (PBT/Total Assets)	(%)	15.54	24.60	9.03

Return on Investment (ROI) (PBT/Networth)		0.25	0.39	0.14

Debt Equity Ratio (Total Debt /Networth)		0.08	0.08	0.21

Current Ratio (Current Asset/Current Liability)		2.29	2.30	2.38

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	15.000	15.000	15.000
Reserves & Surplus	220.250	253.486	263.394
Share Application money pending allotment	0.000	0.000	0.000
Net worth	235.250	268.486	278.394

long-term borrowings	1.112	0.581	0.983
Short term borrowings	45.770	19.699	19.178
Current Maturities of Long term debt	1.994	1.496	1.084
Total borrowings	48.876	21.776	21.245
Debt/Equity ratio	0.208	0.081	0.076

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	544.200	790.989	674.171
		45.349	(14.769)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Total Income	544.200	790.989	674.171
Profit	21.500	68.335	46.015
	3.95%	8.64%	6.83%

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	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

BACKGROUND

The company was incorporated on 11 December 1962. On February 2007, 51% of the Company’s share capital was acquired by Oerlikon Textile GmbH and Company KG., Germany. On 3^rd July, 2013, SAURER. AG acquired 51% of the company’s share capital from Oerlikon Textile GmbH and Company.

The company is engaged in the business of manufacturing winding machines including cone winders, precision winders and versa winders and their related spares parts.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10506447	06/06/2014	434,250.00	INDIAN OVERSEAS BANK	MERCHANT CHAMBER, GR. FLOOR,, NEW MARINE LINES, MUMBAI., MUMBAI - 400020, MAHARASHTRA, INDIA	C09570334
2	10506450	06/06/2014	434,250.00	INDIAN OVERSEAS BANK	MERCHANT CHAMBER, GR. FLOOR, NEW MARINE LINES, MUMBAI., MUMBAI - 400020, MAHARASHTRA, INDIA	C09571795
3	10506453	06/06/2014	434,250.00	INDIAN OVERSEAS BANK	MERCHANT CHAMBER, GR. FLOOR, NEW MARINE LINES, MUMBAI., MUMBAI - 400020, MAHARASHTRA, INDIA	C09573676
4	10506459	06/06/2014	479,250.00	INDIAN OVERSEAS BANK	MERCHANT CHAMBER, GR. FLOOR, NEW MARINE LINES, MUMBAI - 400020, MAHARASHTRA, INDIA	C09576596
5	10500514	18/03/2014	500,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG,, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C05704945
6	10500517	18/03/2014	500,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG,, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C05708649
7	10365828	24/05/2012	98,405,000.00	INDIAN OVERSEAS BANK	MERCHANT CHAMBERS, GROUND FLOOR, OPP. SNDT COLLEGE, NEW MARINE LINES, MUMBAI - 400020, MAHARASHTRA, INDIA	B43751007
8	10346825	17/02/2012	26,303,000.00	INDIAN OVERSEAS BANK	MERCHANT CHAMBERS, GROUND FLOOR, OPP. SNDT COLLEGE, NEW MARINE LINES, MUMBAI - 400020, MAHARASHTRA, INDIA	B36731800
9	10338116	07/01/2012 *	80,101,828.00	INDIAN OVERSEAS BANK	MERCHANT CHAMBERS, GROUND FLOOR, OPP. SNDT COLLEGE, NEW MARINE LINES, MUMBAI - 400020, MAHARASHTRA , INDIA	B33808064

*Date of modification Charges

FIXED ASSETS:

Tangible Assets

· Freehold Land

· Building

· Plant and Machinery

· Computer

· Furniture and Fixtures

· Vehicles

· Office Equipment

Intangible Assets

· Computer Software

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.66.42
UK Pound	1	Rs.99.17
Euro	1	Rs.72.14

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	KIN

Report Prepared by :	NKT

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	6
--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		48

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NB		NEW BUSINESS

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

Unit