MIRA INFORM REPORT

Report No. :	205966
Report Date :	04.02.2015

IDENTIFICATION DETAILS

Name :	DOLLAR INDUSTRIES LIMITED
Formerly Known As :	BHAWANI TEXTILES LIMITED
Registered Office :	Om Tower, 12^th Floor, 32, J L Nehru Road, Kolkata – 700071, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	2605.1993
Com. Reg. No.:	21-058969
Capital Investment / Paid-up Capital :	Rs. 77.452 Millions
CIN No.: [Company Identification No.]	L17299WB1993PLC058969
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALG01916F
PAN No.: [Permanent Account No.]	AACCG1932C
Legal Form :	A Closely Held Public Limited liability Company.
Line of Business :	Manufacturer of inner garments.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 2800000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is sound Trade relations are reported as fair. Business is active. Payments terms 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	CRISIL
Rating	Long Term Rating (BBB)
Rating Explanation	Moderate degree of safety. It Carry Moderate Credit Risk
Date	February 11, 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 31-03-2014.

LOCATIONS

Registered Office / Head Office /:	Om Tower, 12^th Floor, 32, J L Nehru Road, Kolkata – 700071, West Bengal, India
Tel. No.:	91-33-22884064/ 22884065/ 22884066
Fax No.:	91-33-22884063
E-Mail :	bhawani@dollarvest.com bhawani@dollarinternational.com
Website :	http://www.dollarvest.com
Location :	Owned
Corporate Office :	Om Tower, 15^th Floor, 32, J L Nehru Road, Kolkata – 700071, West Bengal, India
Branch Office / Factory :	8/624, Avinashi Gounder Palayam, Angeripalayam Road, Tirupur – 641603, Tamilnadu, India
Tel. No.:	91-421-2485716/ 91-421-2474101/ 91-421-2474104
Fax No.:	91-421-2474102
E-mail :	bhawanitup@airtelmail.in tirupur@dollarinternational.com
Location :	Owned
Branch Office :	Gali Towerwali, khasra No. 642/2 Near Metro Pilar No. 504, P.O. Mundka New Delhi - 110041
Tel No.:	91-11-28343469
Email:	bajrangapparels@dollarinternational.com
Factory :	Located at: · Kolkata · Howrah · Tirupur · Delhi · Ludhiana

DIRECTORS

AS ON 29.09.2014

Name :

Mr. Vinod Kumar Gupta

Designation :

Managing Director

Address :

15 E, Shib Krishna Daw Lane, Kolkata – 700054, West Bengal.

Date of Birth/Age :

30.07.1966

Qualification :

CA and CS

Date of Appointment :

01.12.2012

DIN No. :

00877949

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	L17299WB1993PLC058969	Dollar Industries Limited	Managing director	01/12/2012	30/03/1996	-	Active	NO
2	U51909WB1996PTC080742	GOLDMAN TRADING PVT.LTD.	Director	01/01/2005	01/01/2005	-	Active	NO
3	U17200WB2007PLC119888	WEST BENGAL HOSIERY PARK INFRASTRUCTURE LIMITED	Director	05/03/2008	05/03/2008	-	Active	NO
4	U51109WB1995PTC075520	SIMPLEX IMPEX PVT LTD	Director	30/09/2008	13/03/2008	-	Active	NO
5	U70109WB2011PTC167028	VA INFRAPROJECTS PRIVATE LIMITED	Director	01/09/2011	01/09/2011	-	Active	NO
6	U70109WB2010PTC156185	AMICABLE PROPERTIES PRIVATE LIMITED	Director	22/02/2012	22/02/2012	-	Active	NO
7	U52390WB2010PTC153498	JEENMATA DISTRIBUTORS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	21/03/2012	Active	NO
8	U52100WB2010PTC153501	ZEST MERCHANTS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	-	Active	NO
9	U70109WB2011PTC166241	PHPL STOCK BROKING PRIVATE LIMITED	Director	28/03/2012	28/03/2012	-	Active	NO
10	U74999WB2011PTC163651	KPS DISTRIBUTORS PRIVATE LIMITED	Director	27/06/2013	27/06/2013	-	Active	NO

Name :

Mr. Din Dayal Gupta

Designation :

Director

Address :

15 E, Shib Krishna Daw Lane, Kolkata – 700054, West Bengal.

Date of Birth/Age :

13.09.1937

Qualification :

B.COM

Date of Appointment :

04.08.2005

DIN No. :

00885582

Name :

Mr. Binay Kumar Agarwal

Designation :

Director

Address :

Spacetown, Housing Complex, VIP Road, Block 4, Flat – 5D, Kolkata – 700052, West Bengal, India

Date of Appointment :

29.09.2014

DIN No. :

01342065

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	U67120WB1998PTC087489	ONLINE SHARE BROKING SERVICES PRIVATE LIMITED	Director	13/07/1998	13/07/1998	-	Active	NO
2	U51909WB2004PTC099406	SRB CONSUMER TRADE PRIVATE LIMITED	Director	28/11/2007	28/11/2007	30/01/2008	Active	NO
3	U67120WB1923PLC004707	THE CALCUTTA STOCK EXCHANGE LIMITED	Director	24/12/2007	24/12/2007	30/11/2011	Active	NO
4	U51109WB1994PLC063844	FAST CAPITAL MARKETS LTD.	Director	15/09/2008	27/12/2007	-	Active	NO
5	U74999WB2005PLC103960	FAST RETAIL MARKETS LIMITED	Director	18/03/2008	18/03/2008	15/07/2013	Active	NO
6	U36900WB2003PLC097151	FAST COMMODITY MARKETS LIMITED	Additional director	19/02/2009	19/02/2009	-	Active	NO
7	U74900WB2009PTC134753	CSE CAPITAL MARKETS PRIVATE LIMITED	Director appointed in casual vacancy	30/09/2010	30/09/2010	30/09/2011	Active	NO
8	U70200WB1996PLC076554	SHIVAM INDUSTRIAL PARKS & ESTATES LTD.	Director	28/09/2011	28/09/2011	-	Active	NO
9	U70102WB2012PTC186742	DHANUSH ENCLAVE PRIVATE LIMITED	Director	03/10/2012	03/10/2012	-	Active	NO
10	U74900WB2012PTC187350	MEGALOPOLITAN CONSULTANCY PRIVATE LIMITED	Director	17/10/2012	17/10/2012	-	Active	NO
11	L17299WB1993PLC058969	Dollar Industries Limited	Director	29/09/2014	27/12/2013	-	Active	NO
12	U55101WB1990PTC048303	AKASH GANGA RESORTS PVT LTD	Director	01/01/2014	01/01/2014	-	Active	NO

Name :

Mr. Bajrang Lal Gupta

Designation :

Whole-time Director

Address :

15 E, Shib Krishna Daw Lane, Kolkata – 700054, West Bengal.

Date of Birth/Age :

19.09.1972

Date of Appointment :

01.12.2012

DIN No. :

01783906

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	L17299WB1993PLC058969	Dollar Industries Limited	Whole-time director	01/12/2012	10/01/2005	-	Active	NO
2	U70109WB2011PTC167679	BR INFRAPROJECTS PRIVATE LIMITED	Director	16/09/2011	16/09/2011	-	Active	NO
3	U74999WB2011PTC163651	KPS DISTRIBUTORS PRIVATE LIMITED	Director	21/06/2013	21/06/2013	-	Active	NO

Name :

Mr. Pawan Kumar Agarwal

Designation :

Director

Address :

CA/125, Salt Lake City Sector -1, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

09.09.1966

Date of Appointment :

29.09.2014

DIN No. :

01978322

Name :

Mr. Ashok Kumar Goel

Designation :

Director

Address :

Shivganga Apartment, Nivedita, Pradhan Nagar, Kolkata – 734405, West Bengal, India

Date of Birth/Age :

22.01.1962

Date of Appointment :

29.09.2014

DIN No. :

01982750

Name :

Mr. Binay Kumar Gupta

Designation :

Managing Director

Address :

15 E, Shib Krishna Daw Lane, Kolkata – 700054, West Bengal.

Date of Birth/Age :

02.03.1968

Date of Appointment :

14.02.2014

DIN No. :

01982889

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	L17299WB1993PLC058969	Dollar Industries Limited	Managing director	14/02/2014	10/01/2005	-	Active	NO
2	U70109WB2011PTC167628	BS INFRAPROPERTIES PRIVATE LIMITED	Director	15/09/2011	15/09/2011	-	Active	NO
3	U74999WB2011PTC163651	KPS DISTRIBUTORS PRIVATE LIMITED	Director	21/06/2013	21/06/2013	-	Active	NO

Name :

Mr. Krishan Kumar Gupta

Designation :

Whole-time Director

Address :

Om Tower, 12^th Floor, 32, J L Nehru Road, Kolkata – 700071, West Bengal, India

Date of Birth/Age :

09.11.1970

Date of Appointment :

01.12.2012

DIN No. :

01982914

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	U51909WB1996PTC080742	GOLDMAN TRADING PVT.LTD.	Director	01/01/2005	01/01/2005	-	Active	NO
2	L17299WB1993PLC058969	Dollar Industries Limited	Whole-time director	01/12/2012	04/08/2005	-	Active	NO
3	U51109WB1995PTC075520	SIMPLEX IMPEX PVT LTD	Director	30/09/2008	13/03/2008	-	Active	NO
4	U70100WB2011PTC167007	KN INFRAPROPERTIES PRIVATE LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
5	U70109WB2010PTC156185	AMICABLE PROPERTIES PRIVATE LIMITED	Director	22/02/2012	22/02/2012	-	Active	NO
6	U52390WB2010PTC153498	JEENMATA DISTRIBUTORS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	21/03/2012	Active	NO
7	U52100WB2010PTC153501	ZEST MERCHANTS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	-	Active	NO
8	U70109WB2011PTC166241	PHPL STOCK BROKING PRIVATE LIMITED	Director	28/03/2012	28/03/2012	-	Active	NO

SHAREHOLDING PATTERN

As on 09.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	75.22
Directors or relatives of Directors	3.54
Other top fifty shareholders	14.64
Other	6.60
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of inner garments.

Products :

Item Code No. (ITC Code)	Product Description
61071100	Hosiery

Brand Names :

Doller

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

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
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

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

No. of Employees :

Not Available

Bankers :

Banker Name	State Bank of India
Branch Address	Industrial Finance Branch, 11 Dr. U. N. Brahmachari Street, Kolkata – 700017, West Bengal, 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

· Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune – 411001, Maharashtra, India

• ICICI Bank Limited, 3A, Gurusaday Road, 2^nd Floor, Kolkata – 700019 West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	268.337	214.600
Rupee term loans from others	0.320	0.000
SHORT TERM BORROWINGS
Loans repayable on demand from banks	1026.020	1126.277
Total	1294.677	1340.877

Auditors :
Name :	Amid Ved Garg and Company Chartered Accountants
Address :	22, Biplabi Rash Behari Basu Road(Canning Street) 4th Floor, Kolkata – 700001, West Bengal, India
Tel. No.:	AFAPG5240D
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	· Goldman Trading Private Limited · Bhawani Textiles · Amicable Properties Private Limited · Simplex Impex Private Limited · L. M. Garmants · Sree Krishna Enterprise · KPS Distributors Private Limited

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7745160	Equity Shares	Rs.10/- each	Rs.77.452 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	77.452	77.452	77.452
(b) Reserves & Surplus	934.124	808.315	708.321
(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)	1011.576	885.767	785.773
(3) Non-Current Liabilities
(a) long-term borrowings	390.200	467.206	455.433
(b) Deferred tax liabilities (Net)	28.985	48.068	63.988
(c) Other long term liabilities	77.745	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	496.930	515.274	519.421
(4) Current Liabilities
(a) Short term borrowings	1026.020	1126.277	992.512
(b) Trade payables	623.866	316.425	248.186
(c) Other current liabilities	291.965	415.413	296.012
(d) Short-term provisions	20.043	124.802	54.288
Total Current Liabilities (4)	1961.894	1982.917	1590.998
TOTAL	3470.400	3383.958	2896.192
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	503.727	531.696	555.697
(ii) Intangible Assets	0.202	0.337	0.563
(iii) Capital work-in-progress	252.505	25.964	4.148
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.010	0.010	0.010
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	41.535	38.585	40.783
(e) Other Non-current assets	2.033	0.000	33.445
Total Non-Current Assets	800.012	596.592	634.646
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1067.203	1238.816	1163.127
(c) Trade receivables	1413.967	1110.007	917.818
(d) Cash and cash equivalents	100.351	233.260	74.019
(e) Short-term loans and advances	86.038	169.338	71.639
(f) Other current assets	2.829	35.945	34.943
Total Current Assets	2670.388	2787.366	2261.546
TOTAL	3470.400	3383.958	2896.192

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	6889.261	5794.721	4535.431
	Other Income	33.522	31.099	15.449
	TOTAL (A)	6922.783	5825.820	4550.880
Less	EXPENSES
	Cost of Materials Consumed	3534.698	2779.531	2135.256
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	121.790	(36.994)	(98.320)
	Employees benefits expense	39.258	32.147	23.582
	Other expenses	2776.388	2597.830	2108.264
	TOTAL (B)	6472.134	5372.514	4168.782
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	450.649	453.306	382.098
Less	FINANCIAL EXPENSES (D)	156.254	187.068	162.973
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	294.395	266.238	219.125
Less/ Add	DEPRECIATION/ AMORTISATION (F)	88.451	100.412	91.123
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	205.944	165.826	128.002
Less	TAX (H)	68.750	54.079	40.068
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	137.194	111.747	87.934
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (J)	443.403	342.458	263.525
Less	APPROPRIATIONS
	Proposed Dividend	13.501	10.802	9.001
	Total (K)	13.501	10.802	9.001
	Balance Carried to the B/S (I+J-K)	567.096	443.403	342.458
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	588.874	435.621	315.065
	TOTAL EARNINGS	588.874	435.621	315.065
	Earnings / (Loss) Per Share (Rs.)	17.71	14.00	11.00

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/ Sales)	(%)	1.99	1.93	1.94
Operating Profit Margin (PBDIT/Sales)	(%)	6.54	7.82	8.42
Return on Total Assets (PBT/Total Assets}	(%)	6.40	4.94	4.43
Return on Investment (ROI) (PBT/Networth)		0.20	0.19	0.16
Debt Equity Ratio (Total Debt /Networth)		1.40	1.80	1.84
Current Ratio (Current Asset/Current Liability)		1.36	1.41	1.42

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	77.452	77.452	77.452
Reserves & Surplus	708.321	808.315	934.124
Net worth	785.773	885.767	1011.576
long-term borrowings	455.433	467.206	390.200
Short term borrowings	992.512	1126.277	1026.020
Total borrowings	1447.945	1593.483	1416.220
Debt/Equity ratio	1.843	1.799	1.400

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	4535.431	5794.721	6889.261
		27.766	18.889

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	4535.431	5794.721	6889.261
Profit	87.934	111.747	137.194
	1.94%	1.93%	1.99%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

FUTURE OUTLOOK

The Indian textile industry roots thousands of years back. After, the European industry insurrection, Indian textile sector also witnessed considerable development in industrial aspects. Textile industry plays an important role in the terms of revenue generation in Indian economy. The significance of the textile industry is also due to its contribution in the industrial production, employment. Currently, it is the second largest employment provider after agriculture and provides employment to more than 30mn people.

Their Company has achieved grand success in its foray in to retail segment, precisely because of its long expertise in manufacturing and wholesale trade and core experience gained from the retail activity. Our Company manufactures premium innerwear for men, women and children. The Company remains the preferred choice when it comes to leading brands in Indian hosiery and apparel segment. The Company has an excellent track record when it comes to? Intensity of innovation? With around fifty per cent of their business being based on products developed in the past 10 years. The products are reasonably priced yet trendy and appealing to the youth of today. The manufacturing and other core processes are digital.

India has a complete manufacturing chain, and is among the few countries, which fits the need of the post-quota global buyers. The Indian textile and clothing industry is being rediscovered as a potent force, not just as an alternative to China, but as a source of bulk production. Its high ability on services, information technology and communication, are being recognized as important strength by global buyers of garments and textiles

If the industry creates a niche in the fashion market and fully utilizes the untapped potential of its vast, diverse fabric base for apparel conversion to expand its product base, the share could increase to at least 8 to 10 per cent every year. India also has the advantage of having a highly flexible textile, apparel and knitting industry.

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Loans repayable on demand from Others	111.179	0.000
Intercorporate Borrowing	10.364	0.000
Deposits from others	0.000	81.473
Loans and advances from others	0.000	171.133
Total	121.543	252.606

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10538894	01/12/2014	72,500,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C38231072
2	10512577	26/03/2014	1,181,700,000.00	ALLAHABAD BANK	CHOWRINGHEE ROAD BRANCH, 55, JAWAHARLAL NEHRU ROAD, KOLKATA, West Bengal - 700071, INDIA	C14830301
3	10353310	17/06/2014 *	1,175,000,000.00	State Bank of India	Industrial Finance Branch, Kolkata, 11, Dr. U. N.  Brahmachari Street, Kolkata, West Bengal - 700017, INDIA	C10052546
4	10304022	10/09/2013 *	625,000,000.00	ICICI BANK LIMITED	3A, GURUSADAY ROAD, 2ND FLOOR, KOLKATA, West Bengal - 700019, INDIA	B86326451
5	10196459	26/03/2014 *	423,200,000.00	ALLAHABAD BANK	ALLAHABAD BANK, 55, J. L. NEHRU ROAD, KOLKATA, West Bengal - 700071, INDIA	C02332625
6	10172058	22/02/2013 *	200,000,000.00	INDUSIND BANK LTD.	Savitri Towers, 3A Upper Wood Street, Kolkata, West Bengal - 700017, INDIA	B70788153
7	80025605	26/03/2013 *	591,700,000.00	STATE BANK OF INDIA	Industrial Finance Branch, Kolkata, 11, Dr. U. N.  Brahmachari Street, Kolkata, West Bengal - 700017, INDIA	B75601096

* Date of charge modification

FIXED ASSETS

· Land

· Buildings

· Office building

· Factory building

· Plant and equipment

· Factory equipments

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No 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. 61.74
UK Pound	1	Rs. 92.71
Euro	1	Rs. 69.94

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.