MIRA INFORM REPORT

Report No. :	356526
Report Date :	30.12.2015

IDENTIFICATION DETAILS

Name :	DYNAMIC AUTOLOOMS INDIA PRIVATE LIMITED
Registered Office :	Plot No. 2, Road No. 1, Phase – 1, GIDC, At-Kathwada, Ahmedabad – 382430, Gujarat
Tel. No.:	91-79-22901521/22901523
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	24.06.1993
Com. Reg. No.:	04-019694
Capital Investment / Paid-up Capital :	Rs. 14.000 Million
CIN No.: [Company Identification No.]	U29199GJ1993PTC019694
IEC No.:	0803002831
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACD6563A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer of Shuttle loom machine, Rapier Weaving Machine, Electric Jacquard Machine, High Speed Jacquard Weaving Machine. [Confirmed by management]
No. of Employees :	180 (Approximately)

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 is an established company incorporated in the year 1993 having satisfactory track. Subject is engaged in the business as manufacturer and importer of Shuttle Loom Machine, Rapier Weaving Machine, Electronic Jacquard Machine and High Speed Jacquard Weaving Machine. Available financial indicates sound financial risk profile marked by healthy net worth base with fair liquidity and good profit margin of the company. The company has also witnessed a healthy growth in its turnover and profit during FY 2015. Trade relations are reported as fair. Business is active. Payments terms are reported as usually correct and as per commitment. In view of long track record and sound financial base, the company can be considered normal 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Mr. Yogesh Patel
Designation :	Finance Head
Contact No.:	91-79-22901521
Date :	21.12.2015

LOCATIONS

Registered Office/ Factory :	Plot No. 2, Road No. 1, Phase – 1, GIDC, At-Kathwada, Ahmedabad – 382430, Gujarat, India
Tel. No.:	91-79-22901521/22901523
Mobile No.:	91-9879844411 (Ms. Sumita)
Fax No.:	91-79-22901522
E-Mail :	yogeshpatel@dynamiclooms.com
Website :	http://www.dynamiclooms.com

DIRECTORS

AS ON 31.03.2015

Name :

Mr. Modi Vijay Ambalal

Designation :

Director

Address :

K/102, Kedarkrupa Apartment, Opposite Gail Tower, New Rander Road, Surat - 394505, Gujarat, India

Date of Birth/Age :

15.01.1973

Date of Appointment :

01.04.2004

DIN No.:

00282840

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	U29119GJ1992PTC018323	DYNAMIC EQUIPMENTS PVT LTD	Managing director	23/09/1992	23/09/1992	-	Active	NO
2	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	01/04/2004	01/04/2004	-	Active	NO

Name :

Mr. Patel Vasantbhai Somabhai

Designation :

Director

Address :

1, Shraddha, Manichandra Society-V, Opposite Sarthi Row House, Memnagar, Ahmedabad - 380052, Gujarat, India

Date of Birth/Age :

10.06.1953

Date of Appointment :

01.04.2004

DIN No.:

00277717

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	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	01/04/2004	01/04/2004	-	Active	NO
2	U29268GJ2008PTC055573	P T DYNAMIC TEXTILE MACHINERY PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
3	U45203GJ2010NPL061200	KIA INFRASTRUCTURES DEVELOPMENT LIMITED	Director	01/04/2011	01/04/2011	-	Active	NO

Name :

Mr. Patel Mittal Vasantbhai

Designation :

Director

Address :

1, Shraddha, Manichandra Society-V, Opposite Sarthi Row House, Memnagar, Ahmedabad - 380052, Gujarat, India

Date of Birth/Age :

12.09.1977

Date of Appointment :

12.06.1997

DIN No.:

00277745

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	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	12/06/1997	12/06/1997	-	Active	NO
2	U29268GJ2008PTC055573	P T DYNAMIC TEXTILE MACHINERY PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
3	U72200GJ2009PTC055850	SOLTRACK TECHNOLOGIES PRIVATE LIMITED	Director	07/01/2009	07/01/2009	-	Active	NO

Name :

Mr. Modi Biren Ambalal

Designation :

Director

Address :

Aashirvad, Dharmjivan Society, Hirawadi Road, Mahavir Nagar, Saijpur Bogha, Ahmedabad - 382345, Gujarat, India

Date of Birth/Age :

15.01.1973

Date of Appointment :

01.04.2013

DIN No.:

00282658

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	U29259GJ1991PTC016388	DYNA-TEX ENTERPRISES PVT LTD	Managing director	01/06/2002	01/06/2002	-	Active	NO
2	U29199GJ1993PTC019694	DYNAMIC AUTOLOOMS INIDA PVT LTD	Director	01/04/2013	01/04/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Yogesh Patel
Designation :	Finance Head

MAJOR SHAREHOLDERS

AS ON 31.03.2015

Names of Shareholders	No. of Shares
Patel Archana Jointly Devikaben V. Patel	2105
Vasantbhai S. Patel Jointly Vasantbhai S. Patel HUF	29780
Patel Mittal	44305
Modi Biren Jointly Biren A. Modi HUF	17900
Modi Hetal	45
Modi Vijay	18035
Meenaben V. Patel	16300
Vasantbhai S. Patel	5450
Ambalal Modi (Karata of Ambalal Modi HUF)	6000
Devikaben Patel	50
Patel Mittal V	10
Ambalal Modi	10
Vijay A. Modi	10
Total	140000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Importer of Shuttle loom machine, Rapier Weaving Machine, Electric Jacquard Machine, High Speed Jacquard Weaving Machine. [Confirmed by management]
Products :	Shuttle Loom Machine Rapier Weaving Machine Electric Jacquard Machine High Speed Jacquard Weaving Machine
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	China
Terms :
Selling :	Cheque and Credit (30/60 days)
Purchasing :	Cheque and Credit (30/60 days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Sesa Power Limited – Goa
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 :

End Users, OEMs

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

No. of Employees :

180 (Approximately)

Bankers :

Banker Name	Union Bank of India
Branch Address	Dr. S.R. Marg Branch, Darpan Cross Road, Ahmedabad – 380014, Gujarat, India
Person Name (With Designation)	Not Divulged
Contact Number	91-79-27681226/27681085
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)	Banker non-cooperative

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
From Banks	13.079	13.177
Total	13.079	13.177

Auditors :
Name :	B.A. Rajpara and Company Chartered Accountants
Address :	707, Samruddhi, Opposite Sakar III, Navjivan Post, Ahmedabad – 380014, Gujarat, India
Tel. No.:	91-79-27541840
E-Mail :	barajpara11@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AAOPR5223L
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Mittal Vasantbhai Patel (HUF) Vasantbhai S. Patel (HUF)

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.100/- each	Rs. 15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
140000	Equity Shares	Rs.100/- each	Rs. 14.000 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	14.000	14.000	14.000
(b) Reserves & Surplus	51.934	33.078	28.020
(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)	65.934	47.078	42.020
(3) Non-Current Liabilities
(a) long-term borrowings	17.673	16.191	41.974
(b) Deferred tax liabilities (Net)	3.285	1.873	1.606
(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)	20.958	18.064	43.580
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	13.693
(b) Trade payables	104.525	66.502	25.393
(c) Other current liabilities	100.843	68.508	28.825
(d) Short-term provisions	15.791	19.248	2.466
Total Current Liabilities (4)	221.159	154.258	70.377
TOTAL	308.051	219.400	155.977
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	94.014	68.963	64.184
(ii) Intangible Assets	0.000	0.000	0.000
(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	0.003	0.003	0.028
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.456	3.456	3.456
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	97.473	72.422	67.668
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	72.143	36.475	49.093
(c) Trade receivables	56.271	35.763	27.158
(d) Cash and cash equivalents	2.374	10.301	4.834
(e) Short-term loans and advances	79.790	64.439	7.224
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	210.578	146.978	88.309
TOTAL	308.051	219.400	155.977

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
	Income		838.193	450.770	268.364
	Other Income		5.661	2.561	NA
	TOTAL		843.854	453.331	NA
Less	EXPENSES
	Cost of Materials Consumed		524.200	260.013
	Purchases of Stock-in-Trade		0.510	0.760
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		-21.200	17.437
	Employees benefits expense		42.330	21.678
	Other expenses		230.432	110.508
	Extraordinary Items		0.136	(0.191)
	TOTAL		776.408	410.205	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		67.446	43.126
Less	FINANCIAL EXPENSES		0.904	3.210
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		66.542	39.916	14.440
Less/ Add	DEPRECIATION/ AMORTISATION		13.563	7.132	6.570
	PROFIT/ (LOSS) BEFORE TAX		52.979	32.784	7.870
Less	TAX		17.204	11.347	2.499
	PROFIT/ (LOSS) AFTER TAX		35.775	21.437	5.371
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		47.301	25.864	20.493
	BALANCE CARRIED TO THE B/S		83.076	47.301	25.864
	IMPORTS
		Raw Materials	13.573	26.663	0.000
		Stores & Spares	0.510	0.756	0.000
	TOTAL IMPORTS		14.083	27.419	0.000
	Earnings Per Share (Rs.)		255.54	153.13	---

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	50.351	66.678	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	4.27	4.76	2.00
Operating Profit Margin (PBIDT/Sales)	(%)	8.05	9.57	0.00
Return on Total Assets (PBT/Total Assets}	(%)	17.20	14.94	5.05
Return on Investment (ROI) (PBT/Networth)		0.80	0.70	0.19
Debt Equity Ratio (Total Debt /Networth)		0.27	0.34	1.32
Current Ratio (Current Asset/Current Liability)		0.95	0.95	1.25

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	14.000	14.000	14.000
Reserves & Surplus	28.020	33.078	51.934
Net worth	42.020	47.078	65.934
long-term borrowings	41.974	16.191	17.673
Short term borrowings	13.693	0.000	0.000
Total borrowings	55.667	16.191	17.673
Debt/Equity ratio	1.325	0.344	0.268

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)
Sales	268.364	450.770	838.193
		67.970	85.947

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	268.364	450.770	838.193
Profit	5.371	21.437	35.775
	2.00%	4.76%	4.27%

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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
From Directors and Members	4.594	3.014
Total	4.594	3.014

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10148492	25/02/2008	41,500,000.00	UNION BANK OF INDIA	DR. S. R. MARG BRANCH, DARPAN CROSS ROAD, AHMEDABAD, Gujarat - 380014, INDIA	A33320151

* Date of charge modification

FIXED ASSETS

• Plant and Machinery
• Computer Systems
• Vehicles
• Electric Fan
• Furniture and Fixture
• Office Equipments
• Air Condition
• Machinery
• Land

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. 66.37
UK Pound	1	Rs. 98.91
Euro	1	Rs. 72.85

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	DIV
Report Prepared by :	JYO

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	5
--PROFITABILITY	1~10	5
--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	--

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