MIRA INFORM REPORT

Report No. :	357327
Report Date :	29.12.2015

IDENTIFICATION DETAILS

Name :	HIND HIGH VACUUM COMPANY PRIVATE LIMITED (w.e.f. 17.11.2005)

Formerly Known As :	HINDHIVAC PRIVATE LIMITED

Registered Office :	Site No. 17, Phase – I, Peenya Industrial Area, Bangalore – 560058, Karnataka
Tel. No.:	91-80-41931000 / 1064 / 1018

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	26.03.2001 (Since Incorporated in 1965)

Com. Reg. No.:	08-028817

Capital Investment / Paid-up Capital :	Rs.25.836 Million

CIN No.: [Company Identification No.]	U29120KA2001PTC028817

IEC No.:	0702007668

TIN No.:	29490054596

TAN No.: [Tax Deduction & Collection Account No.]	BLRH00126A

PAN No.: [Permanent Account No.]	AABCH1227L

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the business of design, manufacture and marketing of vacuum systems and components and thin films coating. (Registered Activity)

No. of Employees :	618 (Approximately) [In Factory-298 ; In Branch-20 ; Contract-300]

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

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Hind High Vacuum Company Private Limited was incorporated in the year 2001 as a private limited company with registered office located at Bangalore. The rating reflects promoter’s experience in the industries, established presence of the company in Domestic as well as International markets, established customers base and diversified products portfolio. The rating further takes note on company’s comfortable financial profile characterized by healthy operation albite net loss from its operations during FY-15. The rating is constrained on company’s risk related to volatility in input prices, working capital requirement, unfavourable gap between its trade receivable to its payables and declined networth position from its previous financial year. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with usual trade term and conditions.

NOTES:

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

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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

EXTERNAL AGENCY RATING

Rating Agency Name	BRICKWORK
Rating	Long term bank facilities = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	October, 2014

Rating Agency Name	BRICKWORK
Rating	Short term bank facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	October, 2014

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	S. B. Renuka
Designation :	Senior Manager – Finance
Contact No.:	91-80-41931018

LOCATIONS

Registered Office / Factory :	Site No. 17, Phase – I, Peenya Industrial Area, Bangalore – 560058, Karnataka, India
Tel. No.:	91-80-41931000 / 1064 / 1018
Fax No.:	91-80-28394874
E-Mail :	www.kamath@hhv.in renuka@hhv.in
Website :	www.hhv.in
Area :	61457 Sq. Ft. (Office) 176366 Sq. Ft. (Factory)
Location :	Owned

Branch Office :	No.31, 32, 33, 34 and 37, KIADB Industrial Area, Dabaspet 1^st Phase, Nelagmangala, Bangalore – 562111, Karnataka, India
Tel. No.:	91-80-22633771
Fax No.:	91-80-22633800
E-Mail :	info@hhv.in
Area :	263652 Sq. Ft.
Location :	Owned

DIRECTORS

As on 31.03.2015

Name :

Mr. Prasanth Sakhamuri

Designation :

Managing Director

Address :

No. 272, IV Cross, 2nd Block, RMV 2^nd Stage, Bangalore - 560094, Karnataka, India

Date of Birth/Age :

10.04.1963

Qualification :

B.Sc., PGDRM, IRMA

Experience :

25 Years

Date of Appointment :

26.03.2001

Election Commission Identity Card No.:

KT/12/087/288295

DIN No.:

00542558

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	U08031KA1987PTC008824	SAKHAMURI HOLDINGS PRIVATE LIMITED	Director	27/09/1989	27/09/1989	-	Strike off	NO
2	U29120KA2001PTC028817	HIND HIGH VACUUM COMPANY PRIVATE LIMITED	Managing director	26/03/2001	26/03/2001	-	Active	NO
3	U31902TN2007PLC102951	HHV SOLAR TECHNOLOGIES LIMITED	Director	12/01/2010	24/12/2007	31/07/2014	Active	NO
4	U29304KA2008PTC048095	HHV PUMPS PRIVATE LIMITED	Director	24/10/2008	24/10/2008	-	Active	NO
5	U29219KA2011PTC059707	Spire Solar Technologies Private Limited	Director	25/07/2011	25/07/2011	-	Active	NO
6	U29190KA2012PTC067387	HHV Center for Advanced Photovoltaic Technologies Private Limited	Director	26/12/2012	26/12/2012	-	Active	NO

Name :

Mr. Nagarjun Sakhamuri

Designation :

Managing Director

Address :

No.284, 4th Cross, 2^nd Block, RMV 2^nd Stage, Bangalore - 560094, Karnataka, India

Date of Birth/Age :

09.05.1957

Qualification :

B. S. Mechanical Engineering From United States of America

Experience :

25 Years

Date of Appointment :

01.08.2003

Election Commission Identity Card No.:

KT/12/087/288293

DIN No.:

00637421

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	U08031KA1987PTC008824	SAKHAMURI HOLDINGS PRIVATE LIMITED	Director	27/09/1989	27/09/1989	-	Strike off	NO
2	U29120KA2001PTC028817	HIND HIGH VACUUM COMPANY PRIVATE LIMITED	Managing director	01/08/2003	01/08/2003	-	Active	NO
3	U31902TN2007PLC102951	HHV SOLAR TECHNOLOGIES LIMITED	Director	24/12/2007	24/12/2007	31/07/2014	Active	NO
4	U29304KA2008PTC048095	HHV PUMPS PRIVATE LIMITED	Director	24/10/2008	24/10/2008	-	Active	NO
5	U29190KA2012PTC067387	HHV Center for Advanced Photovoltaic Technologies Private Limited	Director	26/12/2012	26/12/2012	28/03/2014	Active	NO

Name :

Mr. Venkata Narasaiah Sakhamuri

Designation :

Director

Address :

No. 16, III Main Road, Jayamahal Extension, Bangalore - 560046, Karnataka, India

Date of Birth/Age :

14.10.1924

Qualification :

Graduate

Experience :

50 Years

Date of Appointment :

26.03.2001

Election Commission Identity Card No.:

KT/12/087/288291

DIN No.:

00836310

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	U08031KA1987PTC008824	SAKHAMURI HOLDINGS PRIVATE LIMITED	Director	28/12/1987	28/12/1987	-	Strike off	NO
2	U29120KA2001PTC028817	HIND HIGH VACUUM COMPANY PRIVATE LIMITED	Director	26/03/2001	26/03/2001	-	Active	NO
3	U31902TN2007PLC102951	HHV SOLAR TECHNOLOGIES LIMITED	Director	12/01/2010	24/12/2007	21/01/2013	Active	NO
4	U29190KA2012PTC067387	HHV Center for Advanced Photovoltaic Technologies Private Limited	Additional director	16/02/2013	16/02/2013	28/03/2014	Active	NO

Name :

Mrs. Amaraneni Leelavathi

Designation :

Director

Address :

1914, Tynemoore Court, Smyrna, 30080, United States of America

Date of Appointment :

01.02.2014

DIN No.:

06798459

Name :

Mr. Balaji Srinivas

Designation :

Nominee Director

Address :

L31, Diamond District, Airport Road, Bangalore - 560008, Karnataka, India

Date of Appointment :

15.09.2006

DIN No.:

00854999

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	U29120KA2001PTC028817	HIND HIGH VACUUM COMPANY PRIVATE LIMITED	Nominee director	15/09/2006	15/09/2006	-	Active	NO
2	U65999KA2006PTC041272	JAY B INVESTMENTS PRIVATE LIMITED	Director	21/12/2006	21/12/2006	-	Active	NO
3	U31902TN2007PLC102951	HHV SOLAR TECHNOLOGIES LIMITED	Director	31/12/2007	31/12/2007	17/07/2008	Active	NO

KEY EXECUTIVES

Name :	S. B. Renuka
Designation :	Senior Manager – Finance

MAJOR SHAREHOLDERS

As on 31.03.2015

Names of Shareholders		No. of Shares
S. V. Narasaiah		519142
Nagarjun Sakhamuri		432495
Prasanth Sakhamuri		472026
S. Sarojini Devi		492581
A. Leelvavathi		457257

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	2.40
Directors or relatives of Directors	97.60
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of design, manufacture and marketing of vacuum systems and components and thin films coating. (Registered Activity)

Products :	Vacuum Systems and Pumps Plain and Metallised Mineral Glasses Glass Reflectors Coated Mirrors Electronics and Electrical Instruments Interference, Customs Built Filters

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Coating Units Diffusion Pumps Twin Door Metallizing System Furnaces UV Reflectors
Countries :	United Kingdom Poland China United States of America Russia Kuwait England

Imports :
Products :	Rotary Pumps Booster Pumps Molybdenum Graphite Mineral Glass Turbo Molecular Pump Polyurethane Pads
Countries :	Germany United Kingdom Austria Spain New York

Terms :
Selling :	L/C and Credit (30 Days)

Purchasing :	L/C and Credit (30 / 60 Days)

PRODUCTION STATUS (31.03.2015)

Particulars (Units in Nos.)	Installed Capacity	Actual Production
Vacuum Systems and Pumps	5150	2456
Plain and Metallised Mineral Glasses	3600000	4611142
Coated Mirrors	60000	10320
Interference, Customs Built Filters	12000	6318

GENERAL INFORMATION

Suppliers :

Reference :

Sky Tech Infinite Platform Private Limited, Bangalore, Karnataka, India

Name of the Person :

Mr. Devikan (M. D.)

Contact No.:

91-9845129517

Since How Long Known :

18 Years

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Maximum Limit Dealt :

As per requirement

Remark :

Payment term are very good, management is also good on time they cleared their payments.

Reference :

Sidharth Steel Agencies, Bangalore, Karnataka, India

Name of the Person :

Mr. Mahendra Kumar (Proprietor)

Contact No.:

91-9980173477

Since How Long Known :

25 Years

Experience :

Payment Behaviour	Market Goodwill	Overall
Good	Good	Good

Maximum Limit Dealt :

As per requirement

Remark :

Subject company having satisfactory trade record in their transaction, payment terms are good. Business have good reputation in market.

Oerlikon Laybold GMBH
Edwards Limited
Plansee SE
Schunk Lberica
Schott Glass
Pefeiffer Vacuum GMBH
Univeral Photonics
Jindal Steelways Limited, Hyderabad, Telangana, India
Inductotherm India Private Limited

Customers :

95% Government Sector

Reference :	Edwards Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Valeo Auto Lighting
MSH Engineering
Tareq, Kuwait
GEW Limited
HHV Limited, United Kingdom

No. of Employees :

618 (Approximately) [In Factory-298 ; In Branch-20 ; Contract-300]

Bankers :

Banker Name	State Bank of India
Branch Address	SMCB, No.97, Railway Parallel Road, Kumara Park (West), Bangalore – 560020, Karnataka, India
Person Name (With Designation)	Mr. G. Jagadeesh (AGM)
Contact Number	91-80-25943744
Name of Account Holder	---
Account Number	---
Account Since (Date/Year of Account Opening)	01.01.1965
Average Balance Maintained (If Possible)	---
Credit Facilities Enjoyed (If any)	Cash Credit = Rs.150.000 Million BG = Rs.300.000 Million Corporate Loan = Rs.50.000 Million Derivatives Facilities = Rs.0.500 Million
Account Operation	Satisfactory
Remarks (If any)	---

Banker Name	HDFC Bank Limited
Branch Address	Municipal No.8/24, Richmond Road, Coprn Div 61, Bangalore – 560025, Karnataka, India
Credit Facilities Enjoyed (If any)	Credit Limit = Rs.150.000 Million

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
Term Loans
From Banks	14.206	0.000
Finance lease obligation	0.668	0.000
Working Capital	20.000	0.000
SHORT TERM BORROWING
Loans repayable on demand
Cash credit facilities from banks	287.910	343.823
Total	322.784	343.823
Note: Cash credit facilities availed from banks carry interest rate from 12.75% to 15.65% p.a. computed on a monthly basis on the actual amount utilised and are repayable on demand. These are secured by hypothecation of inventories of raw materials, work-in-progress, finished goods and stores and spares, receivables and other current and non-current assets, both present and future.

Auditors :
Name :	BSR and Company LLP Chartered Accountants
Address :	Maruthi Info Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India
Tel. No.:	91-80-39806000
Fax No.:	91-80-39806999
E-Mail :	vineetdhawan@bsraffiliates.com

Memberships :	Not Available

Collaborators :	Not Available

Subsidiaries :	HHV Limited, United Kingdom (HHV-UK) Address: Unite 2, Stanley Business Centre, Kelvin Way, Crawley RH10 9SE, West Sussex United Kingdom Line of Business : Trading Concern HHV Center for Advanced Photovoltaic Technologies Private Limited (HHV CAPT) HHV Solar Technology Private Limited (Till 28^th July 2014)

Joint Venture :	HHV Pumps Private Limited (HHV – Pumps) Address: Site No.17, Phase I, Peenya Industrial Area, Bangalore, Karnataka, India Line of Business : Manufacturer of Rotary Vacuum Pumps

Investing party in respect of which the company is an associate :	Aureos India Trustee Private Limited Aureos Offshore India Opportunities Fund LLC Aureos South Asia Fund LLC

Enterprises in which KMP and relatives of KMP are interested :	Quantum Solutions Private Limited HHV Pumps Private Limited HHV Limited, United Kingdom

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital:

No. of Shares	Type	Value	Amount

4000000	Equity Shares	Rs.10/- each	Rs.40.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

2583642	Equity Shares	Rs.10/- each	Rs.25.836 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	25.836	25.836	25.836
(b) Reserves & Surplus	192.750	214.492	215.250
(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)	218.586	240.328	241.086

(3) Non-Current Liabilities
(a) long-term borrowings	334.874	300.000	301.480
(b) Deferred tax liabilities (Net)	20.023	28.190	23.734
(c) Other long term liabilities	7.200	12.500	12.500
(d) long-term provisions	10.090	8.896	1.449
Total Non-current Liabilities (3)	372.187	349.586	339.163

(4) Current Liabilities
(a) Short term borrowings	303.467	359.441	346.463
(b) Trade payables	89.749	129.382	119.250
(c) Other current liabilities	48.924	73.079	217.155
(d) Short-term provisions	22.027	33.055	58.679
Total Current Liabilities (4)	464.167	594.957	741.547

TOTAL	1054.940	1184.871	1321.796

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	224.430	249.641	244.317
(ii) Intangible Assets	0.980	8.503	9.935
(iii) Capital work-in-progress	2.023	1.058	5.081
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	75.982	133.730	158.724
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	211.507	178.662	80.000
(e) Other Non-current assets	1.215	11.303	16.580
Total Non-Current Assets	516.137	582.897	514.637

(2) Current assets
(a) Current investments	1.244	1.008	0.993
(b) Inventories	163.015	203.640	302.552
(c) Trade receivables	183.863	170.205	253.454
(d) Cash and cash equivalents	24.501	39.646	24.575
(e) Short-term loans and advances	72.590	52.260	164.781
(f) Other current assets	93.590	135.215	60.804
Total Current Assets	538.803	601.974	807.159

TOTAL	1054.940	1184.871	1321.796

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	810.178	1066.796
	Other Income	44.141	27.554
	TOTAL	854.319	1094.350	1035.121

Less	EXPENSES
	Cost of Materials Consumed	379.897	598.135
	Purchases of Stock-in-Trade	0.695	1.411
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	23.009	39.035
	Employees benefits expense	173.460	160.898
	Exceptional Items	17.160	26.718
	Other expenses	179.690	170.312
	TOTAL	773.911	996.509	912.643

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	80.408	97.841	122.478

Less	FINANCIAL EXPENSES	47.465	52.760	57.806

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	32.943	45.081	64.672

Less/ Add	DEPRECIATION/ AMORTISATION	30.759	19.590	23.323

	PROFIT/ (LOSS) BEFORE TAX	2.184	25.491	41.349

Less	TAX	7.243	21.599	19.130

	PROFIT/ (LOSS) AFTER TAX	(5.059)	3.892	22.219

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	58.315	65.012	57.443

Add	Depreciation of earlier year	(16.682)	0.000	0.000

Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	5.938	10.000
	Dividend	0.000	3.975	3.975
	Tax on Dividend	0.000	0.676	0.675
	Total	0.000	10.589	14.650

	Balance Carried to the B/S	36.574	58.315	65.012

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	258.338	311.789	387.088
	Technical Services	0.220	1.680	3.676
	TOTAL EARNINGS	258.558	313.469	390.764

	IMPORTS
	Value of Imports on CIF basis	129.526	293.155	237.618
	Travelling	1.885	3.669	3.429
	Legal and Professional Charges	2.891	1.465	5.753
	Subscription and Seminar	0.035	0.052	0.044
	TOTAL IMPORTS	134.337	298.341	246.844

	Earnings / (Loss) Per Share (Rs.)
	Basic	(1.96)	0.88	NA
	Diluted	(1.74)	0.88	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	8.552	1.481	12.725
Cash generated from operations	(36.536)	118.264	89.988
Net cash provided by operating activities	50.145	81.191	81.420

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	(0.62)	0.36	NA

Operating Profit Margin (PBDIT / Sales)	(%)	9.92	9.17	NA

Return on Total Assets (PBT/Total Assets}	(%)	0.22	2.43	3.57

Return on Investment (ROI) (PBT/Networth)		0.01	0.11	0.17

Debt Equity Ratio (Total Debt/Networth)		2.96	2.75	2.74

Current Ratio (Current Asset/Current Liability)		1.16	1.01	1.09

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	25.836	25.836	25.836
Reserves & Surplus	215.250	214.492	192.750
Net worth	241.086	240.328	218.586

long-term borrowings	301.480	300.000	334.874
Short term borrowings	346.463	359.441	303.467
Current Maturities of Long Term Debt	12.725	1.481	8.552
Total borrowings	660.668	660.922	646.893
Debt/Equity ratio	2.740	2.750	2.959

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	1035.121	1094.350	854.319
		5.722	(21.934)

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	1035.121	1094.350	854.319
Profit	22.219	3.892	(5.059)
	2.15%	0.36%	(0.59%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
5	Buyer visit details	----------------------
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	Yes
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	----------------------
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	----------------------
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	----------------------
33	Market information	----------------------
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

COMPANY OVERVIEW

Subject was established in 1965 as a private limited company with its registered office at Bangalore. On 1 July 2001, the company spun-off its business activities relating to systems and pumps along with significant immovable properties and infrastructure facilities to Hindhivac Private Limited (‘HPL’). HPL was incorporated on 26 March 2001 for implementing the aforesaid proposal. However, for effective utilization of immovable properties and the infrastructure facilities, HHV was again merged with HPL on 1 April 2004. Subsequently, HPL changed its name as Hind High Vacuum Company Private Limited for which approval from Registrar of Companies has been received vide fresh Certificate of Incorporation date 4 July 2005.

The company is engaged in the business of design, manufacture and marketing of vacuum systems and components and thin films coating with its manufacturing units at Bangalore and sales offices spread across India.

REVIEW OF OPERATION

The turnover for the year 2014-15 decreased by 24% due to adverse market condition. The market situation has significantly improved with respect of order book status in the subsequent period. The earnings before interest, tax and depreciation in percentage has increased to 12.04% as against 11.67% of the previous year. The company closed the financial year with a loss of Rs.5.059 Million.

There is no material change in the financials from the closure of the financial year to the date of this report.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
3000000 (Previous year 3000000) 0% compulsory convertible debenture of Rs.100 each	300.000	300.000
SHORT TERM BORROWING
Loans from others	15.557	15.618
Total	315.557	315.618

INDEX OF CHARGES

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10566011	04/03/2015	645,000,000.00	STATE BANK OF INDIA	SPECIALISED MID-CORPORATE BRANCH, NO. 97, RAILWAY PARALLEL ROAD, KUMARAPARK, BANGALORE - 560020, KARNATAKA, INDIA	C51963973
2	10566014	04/03/2015	50,000,000.00	STATE BANK OF INDIA	SPECIALISED MID-CORPORATE BRANCH, NO. 97, RAILWAY PARALLEL ROAD, KUMARAPARK, BANGALORE - 560020, KARNATAKA, INDIA	C51965952
3	10568590	04/03/2015	30,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C53249884
4	10164329	05/06/2014 *	730,000,000.00	STATE BANK OF INDIA	SPECIALISED MID-CORPORATE BRANCH, NO. 97, RAILWAY PARALLEL ROAD, KUMARAPARK (WEST), BANGALORE - 560020, KARNATAKA, INDIA	C09269325

* Date of charge modification

FIXED ASSETS

Land
Building
Plant and Equipment
Office Equipments
Furniture and Fixtures
Computer
Vehicles

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.66.13
UK Pound	1	Rs.98.69
Euro	1	Rs.72.55

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	KYP

Report Prepared by :	PNM

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	6
--PROFITABILITY	1~10	---
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		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.