MIRA INFORM REPORT

Report No. :	308380
Report Date :	18.02.2015

IDENTIFICATION DETAILS

Name :	FERROMAT IK MILACRON INDIA PRIVATE LIMITED (w.e.f. 16.12.2010)
Formerly Known As :	FERROMATIK MILACRON INDIA LIMITED
Registered Office :	53, Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad – 380006, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.05.1995
Com. Reg. No.:	04-0257831
Capital Investment / Paid-up Capital :	Rs. 268.983 Millions
CIN No.: [Company Identification No.]	U74999GJ1995FTC025783
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCC0881D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Plastics Injection Moulding Machines and Blow Moulding Machines.
No. of Employees :	540 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a 100% subsidiary of “Milacron LLC, USA”. It is a well-established company having fine track. The company possesses a favourable financial profile marked by healthy networth base and sound capital structure characterized by zero gearing during FY14. Management has witnessed a better increase in its sales volume, with a track record of profitable operations. Trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments. In view of support from its reputed parentage, 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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	ICRA
Rating	Long Term Fund Based = A-
Rating Explanation	Adequate degree of safety and low credit risk
Date	October, 2013

Rating Agency Name	ICRA
Rating	Short Term Non Fund Based = A1
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	October, 2013

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.

INFORMATION PARTED BY

Name :	Mr. Sameer Parikh
Designation :	General Manager in Finance
Contact No.:	91-79-25890081

LOCATIONS

Registered Office :	53, Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad – 380006, Gujarat, India
Tel. No.:	91-79-26440331 / 26440331
Fax No.:	91-79-26421324
E-Mail :	mamatagroup@mamata.com salesfmi@milacron.com servicefmi@milacron.com exportservicefmi@milacron.com servtek_India@milacron.com materials_fmil@milacron.com hrdfmi@milacron.com
Website :	www.milacronindia.com
Factory 1 :	93/2 and 94/1, Phase-I, G.I.D.C. Vatva, Ahmedabad - 382445, Gujarat, India.
Tel. No.:	91-79-25890081, 25890133, 25830063
Fax No.:	91-79-25830125
Factory 2 :	Plot No.38/3, 39/1, Phase-I, G.I.D.C. Vatva, Ahmedabad - 382445, Gujarat, India.
Marketing Office:	Millat Plaza, 1st Floo,r 13 Dilkhusa Street Near Park Circus Tram Depot, Kolkata – 700017, West Bengal, India
Marketing Office:	Also Located at: Delhi Mumbai Vapi Haridwar Bangalore Hyderabad Chennai Kolkata Pune Kerala Baddi Kanpur Chandigarh
Tel No.:	91-22-40055459-62

DIRECTORS

As on 31.07.2014

Name :

Mr. David Edward Lawrence

Designation :

Nominee Director

Address :

75 Duval Road, South Grosse Pointe Shores, Michigan 48236, USA

Date of Birth/Age :

15.01.1950

Date of Appointment :

29.12.2009

DIN No.:

02426697

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	U74999KA1993PLC046003	DME (INDIA) PRIVATE LIMITED	Director	31/01/1994	31/01/1994	-	Active	NO
2	U74999GJ1995FTC025783	FERROMATIK MILACRON INDIA Private Limited	Nominee director	29/12/2009	17/08/2009	-	Active	NO

Name :

Mr. Shirish Vasantbhai Divgi

Designation :

Managing Director

Address :

A-504, Indraprasth-7, Near Judges Bunglow, Opposite Bodakdev Fire Station, Bodakdev, Ahmedabad – 380054, Gujarat, India

Date of Birth/Age :

25.10.1963

Date of Appointment :

01.10.2014

DIN No.:

06406186

PAN No.:

ABWPD4352K

Name :

Mr. Mahendra N. Patel

Designation :

Director

Address :

15, JKairavi Bungalow Near Sarthi Hotel, Vastrapur Road, Bodakdev, Ahmedabad – 380054, Gujarat, India

Date of Birth/Age :

17.01.1949

Date of Appointment :

31.05.1995

DIN No.:

00104997

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	U29259GJ1979PTC003363	MAMATA MACHINERY PRIVATE LIMITED	Managing director	12/09/1994	12/09/1994	-	Active	NO
2	U28999GJ1995FTC025601	KLOECKNER DESMA MACHINERY PRIVATE LIMITED	Managing director	25/04/1995	25/04/1995	-	Active	NO
3	U74999GJ1995FTC025783	FERROMATIK MILACRON INDIA Private Limited	Director	31/05/1995	31/05/1995	-	Active	NO
4	U29212GJ1997PTC031529	MAMATA EXTRUSION SYSTEMS PRIVATE LIMITED	Director	17/01/1997	17/01/1997	-	Active	NO
5	U29199GJ1997FTC032397	KHS MACHINERY PRIVATE LIMITED	Director	01/01/2011	26/05/1997	-	Active	NO
6	U65910GJ1993PTC019248	MAMATA GROUP CORPORATE SERVICES PRIVATE LIMITED	Director	11/08/1997	11/08/1997	-	Active	NO
7	U72200GJ1992PTC017819	SOURCEPRO INFOTECH PRIVATE LIMITED	Director	17/07/2000	17/07/2000	25/12/2009	Active	NO
8	U40106GJ2001PTC039173	MAMATA ENERGY PRIVATE LIMITED	Director	17/01/2001	17/01/2001	-	Active	NO
9	U25202GJ2004PTC045123	SUNPACK BARRIER FILMS PRIVATE LIMITED	Director	13/12/2004	13/12/2004	15/07/2014	Active	NO
10	U25202GJ2006PTC047451	MAMATA-SPAN FLEXOPACK PRIVATE LIMITED	Director	04/01/2006	04/01/2006	-	Active	NO
11	U72200GJ2000PTC038028	VIBRATIONS INFOTALS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	-	Under liquidation	NO
12	U65999GJ2004PTC044563	NATRAJ FINSEC (INDIA) PRIVATE LIMITED	Additional director	06/11/2006	06/11/2006	-	Under liquidation	NO
13	U40106GJ2006PTC049596	MAMATA PYRON SOLAR PRIVATE LIMITED	Director	27/09/2007	19/12/2006	-	Strike off	NO
14	U65910GJ1990PTC014305	MAMATA MANAGEMENT SERVICES PRIVATE LIMITED	Director	29/09/2007	31/12/2006	-	Active	NO
15	U29249GJ2007PTC050353	HYDCO ENGINEERING PRIVATE LIMITED	Director	12/08/2008	02/07/2007	25/07/2014	Active	NO
16	U73100GJ2008NPL054708	INDIAN CENTRE FOR CLIMATE AND SOCIETAL IMPACTS RESEARCH	Director	07/08/2008	07/08/2008	01/08/2014	Active	NO
17	L25209DD1988PLC001544	WIM PLAST LIMITED	Director	18/09/2010	27/07/2010	16/07/2012	Active	NO
18	U91100DL2012NPL239417	PLASTICS MACHINERY MANUFACTURERS ASSOCIATION OF INDIA	Director	27/07/2012	27/07/2012	-	Active	NO

Name :

Mr. Narasinh K. Balgi

Designation :

Director

Address :

B-401, Sumadhur-11, Near Azad Society, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

01.06.1943

Date of Appointment :

01.04.2011

DIN No.:

00163468

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	U74999GJ1995FTC025783	FERROMATIK MILACRON INDIA Private Limited	Director	01/04/2011	05/06/2004	-	Active	NO
2	U91100DL2012NPL239417	PLASTICS MACHINERY MANUFACTURERS ASSOCIATION OF INDIA	Director	27/07/2012	27/07/2012	-	Active	NO
3	U29290MH1973GAP016420	INDIAN MACHINE TOOL MANUFACTURERS ASSOCIATION	Director	29/08/2012	29/08/2012	-	Active	NO

Name :

Mr. John C. Francy

Designation :

Director

Address :

814, Tweed Avenue, Cincinnati, Ohio – 45226, USA

Date of Birth/Age :

24.10.1964

Date of Appointment :

13.09.2012

DIN No.:

05221251

KEY EXECUTIVES

Name :	Mr. Pradip G. Mistry
Designation :	Secretary
Address :	Bunglow 16, Sector 1, Kaljaar Bunglows, Shilaj, Ahmedabad – 380058, Gujarat, India
Date of Birth/Age :	15.12.1957
Date of Appointment :	01.06.1998
PAN No.:	AGAPM1318H
Name :	Mr. Sameer Parikh
Designation :	General Manager in Finance

MAJOR SHAREHOLDERS

As on 31.07.2014

Names of Shareholders	No. of Shares
Milacron Marketing Company LLC, USA	2689730
Milacron Marketing Company LLC, USA Jointly with Milacron Plastics Technologies Group LLC, USA	100
Total	2689830

Equity Share Break up (Percentage of Total Equity)

As on 31.07.2014

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	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastics Injection Moulding Machines and Blow Moulding Machines.

Products :

Description of product or service	ITC Code
Injection Moulding Machines	84771000
Blow Moulding Machines	84773000

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• Middle East
• African Countries

Imports :

Products :

Raw Material

Countries :

• US
• China
• Europe
• Japan

Terms :

Selling :

Cash / L/C / Credit

Purchasing :

Cash / L/C / Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

540 (Approximately)

Bankers :

• HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

• IDBI Bank Limited, IDBI Complex, Opposite Municipal Quarters, Off C. G. Road, Ahmedabad - 380006, Gujarat, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	0.000	15.000
Working capital loans from banks	0.000	48.037
Total	0.000	63.037

Auditors :
Name :	S.R. Batliboi and Associates LLP Chartered Accountants
Address :	2nd Floor, Shivalik Ishaan Near CN Vidhyalaya, Ambawadi Ahmedabad-380015, India
PAN N Income-tax PAN of auditor or auditor's firm :	ACHFS9118J
Memberships :	Not Available
Collaborators :	Not Available
Holding company:	Milacron Marketing Company LLC
Ultimate Holding company:	Milacron LLC
Fellow Subsidiary company:	Milacron Plastic Technologies Group LLC Ferromatik Milacron GmbH Milacron Marketing (Shanghai) Company Limited Uniloy Milacron S.R.L. Milacron Plastic Machinery (Jiangyin) Company Limited Ferromatik Milacron CA Milacron Equipamentos Plasticos Ltda Mold-Masters (2007) Limited Mold-Masters Technologies Private Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.100/- each	Rs.300.000 Millions
1000000	Preference Shares	Rs.100/- each	Rs.100.000 Millions
	Total		Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2689830	Equity Shares	Rs.100/- each	Rs.268.983 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	268.983	268.983	268.983
(b) Reserves & Surplus	1236.609	1174.013	955.021
(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)	1505.592	1442.996	1224.004
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	15.000	35.000
(b) Deferred tax liabilities (Net)	42.116	43.123	38.530
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	22.826	24.186	22.902
Total Non-current Liabilities (3)	64.942	82.309	96.432
(4) Current Liabilities
(a) Short term borrowings	0.000	48.037	23.956
(b) Trade payables	809.269	692.474	480.491
(c) Other current liabilities	449.035	280.539	449.501
(d) Short-term provisions	226.355	263.940	79.858
Total Current Liabilities (4)	1484.659	1284.990	1033.806
TOTAL	3055.193	2810.295	2354.242
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	812.623	756.792	760.948
(ii) Intangible Assets	16.379	44.120	69.981
(iii) Capital work-in-progress	1.543	2.659	0.400
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	49.065	40.560	44.048
(e) Other Non-current assets	0.000	0.325	1.400
Total Non-Current Assets	879.610	844.456	876.777
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1076.829	919.114	731.499
(c) Trade receivables	443.588	475.920	312.793
(d) Cash and cash equivalents	481.932	438.252	373.089
(e) Short-term loans and advances	148.933	115.562	48.311
(f) Other current assets	24.301	16.991	11.773
Total Current Assets	2175.583	1965.839	1477.465
TOTAL	3055.193	2810.295	2354.242

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
SALES
Turnover	5246.410	4598.080	609.780
Other Income	NA	NA	NA
TOTAL	NA	NA	NA
EXPENSES	NA	NA	NA
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	859.950	705.770	609.780
FINANCIAL EXPENSES	14.320	18.500	55.250
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	845.630	687.270	554.530
DEPRECIATION/ AMORTISATION	104.690	102.580	90.960
PROFIT/ (LOSS) BEFORE TAX	740.940	584.690	463.570
TAX	253.490	192.620	151.480
PROFIT/ (LOSS) AFTER TAX	487.440	392.070	312.090
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	1115.010	936.020	623.930
APPROPRIATIONS
Transfer to General Reserve	NA	40.000	0.000
Dividend	NA	147.940	0.000
Tax on Dividend	NA	25.140	0.000
Balance Carried to the B/S	NA	1115.010	936.020
Earnings / (Loss) Per Share (Rs.)	181.22	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	9.29	8.52	51.18
Operating Profit Margin (PBDIT/Sales)	(%)	16.39	15.34	100.00
Return on Total Assets (PBT/Total Assets}	(%)	24.26	20.82	19.69
Return on Investment (ROI) (PBT/Networth)		0.49	0.41	0.38
Debt Equity Ratio (Total Debt /Networth)		0.00	0.04	0.05
Current Ratio (Current Asset/Current Liability)		1.47	1.53	1.43

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	268.983	268.983	268.983
Reserves & Surplus	955.021	1174.013	1236.609
Net worth	1224.004	1442.996	1505.592
long-term borrowings	35.000	15.000	0.000
Short term borrowings	23.956	48.037	0.000
Total borrowings	58.956	63.037	0.000
Debt/Equity ratio	0.048	0.044	0.000

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)
Turnover	609.780	4598.080	5246.410
		654.056	14.100

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Turnover	609.780	4598.080	5246.410
Profit	312.090	392.070	487.440
	51.18%	8.53%	9.29%

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
20]	Export / Import details (if applicable)	Yes
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

PERFORMANCE OF THE COMPANY:

During the year, company registered 14.09% (Rs. 5246.000 millions over Rs. 4598.000 millions) growth compared to the sales growth of 13.18% in the previous year. Growth in sales volumes was driven by demand in export and intercompany business.

Continued high inflation reduced the consumption, slowed down the growth rate of economy, during the year. Demand for machinery in domestic market remained subdued in the previous year.

Company expanded the customer base to 1557 nos. domestic and 253 nos. exports, having added 145 new customers in domestic and 25 in export.

The company achieved a landmark of delivering 8001 st machine during the year.

The portfolio of the All Electric- Elektron machines was further expanded by adding models 550 Tonne.

Increase in input material cost due to increase in labour cost and depreciation of rupee kept pressure on margins. The directors are however pleased to report that during the year company has made profit before tax of Rs. 740.940 millions as compared to Rs. 584.690 millions of previous year.

OPERATIONS

Operations team had taken up productivity improvement through Six Sigma and TPM programmes implementation. Both these initiatives progressing well and are expected to help improving the operational efficiency.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10082606	26/08/2011 *	220,000,000.00	BANK OF BARODA	2ND FLOOR, BANK OF BARODA TOWERS, OPP. LAW GARDEN, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	B20604971
2	80010854	05/08/2011 *	220,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B19815232

* Date of charge modification

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Office building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer Equipments
• Other Equipments

NEWS

MILACRON TO INVEST $30 MILLION TO EXPAND INDIA PRODUCTION CAPACITY - TO EXPAND ITS RANGE OF 'MADE IN INDIA' PRODUCTS GLOBALLY

Milacron LLC, the global leader in high precision plastic processing technologies and control systems, today announced its plans to further invest $30 million in its India operations. The firm plans to invest 520 million in Ferromatik Milacron India's Ahmedabad facility to double its manufacturing capacity of Injection Moulding Machines and Blow Moulding Machines as well as commence the production of Extrusion Line.

Mumbai: Milacron LLC, the global leader in high precision plastic processing technologies and control systems, today announced its plans to further invest $30 million in its India operations. The firm plans to invest 520 million in Ferromatik Milacron India's Ahmedabad facility to double its manufacturing capacity of Injection Moulding Machines and Blow Moulding Machines as well as commence the production of Extrusion Line. It will invest another $10 million in Mold Masters (a subsidiary of Milacron LLC), manufacturers of Hot Runners and Controls, for expansion at its Coimbatore facility to meet the growing customer needs.

Announcing the investment, Milacron President and CEO Mr. Tom Goeke who is currently in India stated, "We certainly share the new government's 'Make in India' philosophy. In fact, we have a 'Made in India, for India' strategy. It makes immense business sense for us, helping us directly target a growing set of customers with locally made products In India and sold globally. Going by the current growth rate, by 2020 India will be 2nd only to China in the global polymer processing market. We are very positive about our growth in India and plan to continue to make substantial investments in India and rest of markets in the coming years." said Mr. Goeke.

"The expansion at FMI will increase the production capacity from 1500 to 2100 Injection Molding and Blow Molding Machines a year. We are also planning to double the workforce from the current 1,200 employees in various Indian locations to 2,400 in line with the expansion." Mr. Tom Goeke added.

The growth of the infrastructure and construction market in India is a major reason for the expansion and introduction of Extrusion Line and the company wants to expand its market share.

"With the addition of this new range of Extrusion products, we are a step ahead and on the edge of technology to better serve our customers in India, SAARC, Middle East and Africa. Our Extrusion Line established products will offer wider range to our customers." said Shirish Divgi, Managing Director, Ferromatik Milacron India.

Milacron's state of the art manufacturing plants are based in Ahmedabad and Coimbatore. The FMI facility at Ahmedabad is spread over an area of about 55,000 sq. mt. The plant's layout and manufacturing methods are in line with its Cincinnati based parent company Milacron LLC, with modern in-house manufacturing facility to ensure highest quality standards for business improvement.

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.62.20
UK Pound	1	Rs.96.00
Euro	1	Rs.71.00

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUB
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		52

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.