MIRA INFORM REPORT

Report No. :	308791
Report Date :	26.02.2015

IDENTIFICATION DETAILS

Name :	OSWAL WOOLLEN MILLS LIMITED
Registered Office :	G.T. Road, Sherpur, Ludhiana – 141 003, Punjab
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.06.1949
Com. Reg. No.:	16-001522
Capital Investment / Paid-up Capital :	Rs. 153.395 millions
CIN No.: [Company Identification No.]	U40300PB1949PLC001522
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	JLDO00323B
PAN No.: [Permanent Account No.]	AAACO1943F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Company is engaged in the manufacture and exports of all types of woolen/ acrylic/ blended yarns and denim fabrics
No. of Employees :	Not Divulged

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

Maximum Credit Limit :	USD 8400000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings at usual trade terms and condition.

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	Fund based limits BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	March, 2014

Rating Agency Name	ICRA
Rating	Non- Fund based A2
Rating Explanation	Strong degree of safety and low credit risk.
Date	March, 2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under :

Borrowers’ Name :	Oswal Woollen Mills Limited
Address :	G. T. Road, Sherpur, Ludhiana, Punjab – 141003
Name of Individual :	Amarjeet Singh Dinesh Gogna Dinesh Oswal H K Bal Jawahar Lal Oswal - Chairman & Managing Director Kamal Oswal Kanwar Sain Maini Om Prakash Sahni Sandeep Jain Suresh Kumar Singla
Name of Credit Grantors / Bank & Branch:	ICICI Bank Limited, Ludhiana
Amount (Rs. In Millions) :	Rs.146.600 million

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 DECLINED

Management non-co-operative (91-161-2542512/2535740)

LOCATIONS

Registered Office :	G.T. Road, Sherpur, Ludhiana – 141 003, Punjab, India
Tel. No.:	91-161-2542512 / 2535740/ 2542501-0507
Fax No.:	91-161-2542509
E-Mail :	rajeshdang@owmnahar.com oswal@owmnahar.com
Corporate Office :	Near Cheema Chowk, Ludhiana-141003, Punjab, India
Sales Office :	G.T. Road, Miller Ganj, Nirankari Street No.1, Ludhiana – 141 003 Punjab, India
Tel. No.:	91-161-2535741 – 743
Fax No.:	91-161-2535746
E-Mail :	owmunti@owmnahar.com
Branch Office :	Located at: · Gurgaon · New Delhi · Mumbai · Chennai
Works :	· G. T. Road, Sherpur, Ludhiana – 141003, Punjab, India · Plot No. 92, Daba Road, Sherpur, Ludhiana – 141003, Punjab, India · Village Jalalpur, P. O. Dappar, Ambala Chandigarh Road, District. Mohali, Punjab, India · Plot No.87, Industrial Area Philukhedi, Rajgarh – 465 667, Bhopal, Madhya Pradesh, India · Village Jatisara, Tehsil Phalodi, Jodhpur, Rajasthan, India · Village Karachchitupudur, Taluk Radhapuram, Tirunelvelli, Tamilnadu, India

DIRECTORS

As on 29.09.2014

Name :

Mr. Jawahar Lal Oswal

Designation :

Chirman and Managing Director

Address :

514, College, Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

01.10.1943

Date of Appointment :

01.10.2007

DIN No.:

00463866

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	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Managing director	01/10/2007	31/03/1964	-	Active	NO
2	U74899DL1972PLC006181	VARDHMAN INVESTMENTS LTD	Director	30/04/1978	30/04/1978	07/08/2012	Active	NO
3	U67120DL1980PTC161885	NAGDEVI TRADING AND INVESTMENT COMPANY LIMITED	Director	16/06/1980	16/06/1980	-	Active	NO
4	U67120DL1982PTC161884	OGDEN TRADING AND INVESTMENT CO PVT LTD	Director	20/07/1982	20/07/1982	-	Amalgamated	NO
5	U65993DL1972PLC006178	VANAIK INVESTORS LTD	Director	30/12/1984	30/12/1984	11/08/2014	Active	NO
6	U74899DL1991PTC043052	ABHILASH GROWTH FUND PRIVATE LIMITED	Director	12/02/1991	12/02/1991	-	Active	NO
7	U74899DL1991PTC043053	NAHAR GROWTH FUND PRIVATE LIMITED	Director	12/02/1991	12/02/1991	-	Active	NO
8	U74999DL1991PLC043054	J L.GROWTH FUND LIMITED	Director	12/02/1991	12/02/1991	-	Active	NO
9	U74899DL1979PLC009739	PALAM MOTELS LIMITED	Director	26/02/1991	26/02/1991	13/08/2014	Active	NO
10	U74899DL1991PTC043957	NEHA CREDIT AND INVESTMENT PRIVATE LIMITED	Director	15/04/1991	15/04/1991	-	Active	NO
11	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	14/10/1991	14/10/1991	-	Active	NO
12	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	14/10/1991	14/10/1991	-	Active	NO
13	L17115PB1980PLC004341	NAHAR SPINNING MILLS LTD	Director	30/09/1992	30/09/1992	-	Active	NO
14	U65992DL1972PLC006182	GIRNAR INVESTMENT LTD	Director	06/09/1993	06/09/1993	11/08/2014	Active	NO
15	U67120DL1972PLC006180	ATAM VALLABH FINANCIERS LTD	Director	26/11/1994	26/11/1994	07/08/2012	Active	NO
16	U74899DL1990PTC041601	MONICA GROWTH FUND PRIVATE LIMITED	Director	17/02/1998	17/02/1998	-	Active	NO
17	U74899DL1990PTC041600	RUCHIKA GROWTH FUND PRIVATE LIMITED	Director	17/02/1998	17/02/1998	-	Active	NO
18	L67120DL1979PLC009388	SANKHESHWAR HOLDING COMPANY LIMITED	Director	12/10/1999	12/10/1999	-	Active	NO
19	U67120PB1972PLC037121	LUDHIANA HOLDINGS LTD	Director	12/10/1999	12/10/1999	-	Amalgamated	NO
20	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
21	L51494PB2008PLC032059	Monte Carlo Fashions Limited	Managing director	10/08/2011	01/07/2008	-	Active	NO
22	U51909DL2012PLC240125	SIDHANT AND MANNAT COMPANY LIMITED	Director	13/08/2012	13/08/2012	11/08/2014	Active	NO
23	U51909DL2012PLC240365	Simran and Shanaya Company Limited	Director	17/08/2012	17/08/2012	11/08/2014	Active	NO

Name :

Mr. Kamal Jawahar lal Oswal

Designation :

Managing Director

Address :

514, College, Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

22.09.1962

Date of Appointment :

01.09.2012

DIN No.:

00493213

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	U65992DL1972PLC006182	GIRNAR INVESTMENT LTD	Director	14/05/1983	14/05/1983	11/08/2014	Active	NO
2	L65910DL1983PLC016036	OSWAL LEASING LIMITED	Director	12/08/1983	12/08/1983	-	Active	NO
3	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Managing director	01/02/2008	27/09/1983	-	Active	NO
4	L67120DL1979PLC009388	SANKHESHWAR HOLDING COMPANY LIMITED	Director	18/11/1983	18/11/1983	-	Active	NO
5	U74899DL1983PTC015104	KULU INVESTMENT AND TRADING PVT LTD	Director	22/03/1984	22/03/1984	-	Amalgamated	NO
6	U67120DL1980PTC161885	NAGDEVI TRADING AND INVESTMENT COMPANY LIMITED	Director	13/10/1984	13/10/1984	11/08/2014	Active	NO
7	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	15/11/1989	15/11/1989	-	Active	NO
8	U74899DL1979PLC009739	PALAM MOTELS LIMITED	Director	26/02/1991	26/02/1991	23/07/2008	Active	NO
9	U74999DL1991PLC043054	J L.GROWTH FUND LIMITED	Director	01/06/1991	01/06/1991	11/08/2014	Active	NO
10	U74899DL1991PTC043052	ABHILASH GROWTH FUND PRIVATE LIMITED	Director	01/06/1991	01/06/1991	-	Active	NO
11	U74899DL1991PTC043053	NAHAR GROWTH FUND PRIVATE LIMITED	Director	01/06/1991	01/06/1991	-	Active	NO
12	U74899DL1991PTC043957	NEHA CREDIT AND INVESTMENT PRIVATE LIMITED	Director	01/06/1991	01/06/1991	-	Active	NO
13	L17115PB1980PLC004341	NAHAR SPINNING MILLS LTD	Director	30/09/1991	30/09/1991	-	Active	NO
14	U74899DL1972PLC006181	VARDHMAN INVESTMENTS LTD	Director	20/08/1992	20/08/1992	-	Active	NO
15	U67120DL1982PTC161884	OGDEN TRADING AND INVESTMENT CO PVT LTD	Director	30/08/1993	30/08/1993	-	Amalgamated	NO
16	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Managing director	01/09/2012	29/12/1993	-	Active	NO
17	U45202PB1994PLC014964	NAHAR INDUSTRIAL INFRASTRUCTURE CORPORATION LIMITED	Director	22/08/1994	22/08/1994	-	Active	NO
18	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
19	U51311PB2001PLC024753	COTTON COUNTY RETAIL LIMITED	Director	01/09/2012	30/11/2006	-	Active	NO
20	U67120DL1972PLC006180	ATAM VALLABH FINANCIERS LTD	Director	27/09/2008	14/02/2008	13/08/2014	Active	NO
21	L51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	01/07/2008	01/07/2008	21/03/2014	Active	NO

Name :

Mr. Dinesh Jawahar lal Oswal

Designation :

Director

Address :

514, College, Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

04.10.1965

Date of Appointment :

13.07.1992

DIN No.:

00607290

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	U67120DL1972PLC006180	ATAM VALLABH FINANCIERS LTD	Director	06/05/1985	06/05/1985	-	Active	NO
2	L17115PB1980PLC004341	NAHAR SPINNING MILLS LTD	Managing director	01/01/2012	21/05/1985	-	Active	NO
3	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	12/01/2007	11/11/1988	-	Active	NO
4	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	15/12/1988	15/12/1988	-	Active	NO
5	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Director	13/07/1992	13/07/1992	-	Active	NO
6	L67120DL1979PLC009388	SANKHESHWAR HOLDING COMPANY LIMITED	Director	31/08/1992	31/08/1992	14/08/2014	Active	NO
7	U74899DL1979PLC009739	PALAM MOTELS LIMITED	Director	08/02/1993	08/02/1993	13/08/2014	Active	NO
8	U74899DL1983PTC015104	KULU INVESTMENT AND TRADING PVT LTD	Director	30/04/1993	30/04/1993	-	Amalgamated	NO
9	U67120DL1982PTC161884	OGDEN TRADING AND INVESTMENT CO PVT LTD	Director	30/08/1993	30/08/1993	-	Amalgamated	NO
10	U65993DL1972PLC006178	VANAIK INVESTORS LTD	Director	06/09/1993	06/09/1993	-	Active	NO
11	U45202PB1994PLC014964	NAHAR INDUSTRIAL INFRASTRUCTURE CORPORATION LIMITED	Director	22/08/1994	22/08/1994	-	Active	NO
12	U67120PB1972PLC037121	LUDHIANA HOLDINGS LTD	Director	12/10/1999	12/10/1999	-	Amalgamated	NO
13	U74999DL1991PLC043054	J L.GROWTH FUND LIMITED	Director	09/12/2004	09/12/2004	11/08/2014	Active	NO
14	U74899DL1972PLC006181	VARDHMAN INVESTMENTS LTD	Director	09/12/2004	09/12/2004	-	Active	NO
15	U74899DL1991PTC043052	ABHILASH GROWTH FUND PRIVATE LIMITED	Director	01/10/2005	01/10/2005	-	Active	NO
16	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Managing director	01/12/2007	31/03/2006	-	Active	NO
17	L51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	01/07/2008	01/07/2008	21/03/2014	Active	NO
18	U51311PB2001PLC024753	COTTON COUNTY RETAIL LIMITED	Director	01/09/2008	06/08/2008	01/08/2014	Active	NO

Name :

Mr. Sandeep Jain

Designation :

Director

Address :

514/2, College, Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

24.12.1971

Date of Appointment :

01.08.2012

DIN No.:

00565760

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	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Director	01/08/2012	30/04/1998	-	Active	NO
2	L51494PB2008PLC032059	Monte Carlo Fashions Limited	Whole-time director	01/08/2012	01/07/2008	-	Active	NO
3	U17115DL1980PLC177084	VANAIK SPINNING MILLS LIMITED	Director	23/09/2010	10/11/2009	-	Active	NO

Name :

Mr. Dinesh Gogna

Designation :

Whole-time Director

Address :

30H, B.R.S. Nagar, Ludhiana, Punjab, India

Date of Birth/Age :

07.07.1953

Date of Appointment :

01.10.2011

DIN No.:

00498670

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	U65992DL1972PLC006182	GIRNAR INVESTMENT LTD	Director	10/06/1980	10/06/1980	-	Active	NO
2	L65910DL1983PLC016036	OSWAL LEASING LIMITED	Director	19/01/1984	19/01/1984	-	Active	NO
3	L17115PB1980PLC004341	NAHAR SPINNING MILLS LTD	Director	21/05/1985	21/05/1985	-	Active	NO
4	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	15/11/1989	15/11/1989	-	Active	NO
5	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Whole-time director	01/10/2011	18/10/2006	-	Active	NO
6	U51311PB2001PLC024753	COTTON COUNTY RETAIL LIMITED	Director	30/11/2006	30/11/2006	-	Active	NO
7	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	07/12/2006	07/12/2006	-	Active	NO
8	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	29/12/2007	12/01/2007	-	Active	NO
9	L51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	01/07/2008	01/07/2008	-	Active	NO

Name :

Mrs. Harbhajan Kaur Bal

Designation :

Director

Address :

H.No. 2322, Phase Xl, Mohali, Punjab, India

Date of Birth/Age :

12.06.1939

Date of Appointment :

29.09.2007

DIN No.:

00008576

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	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	30/09/2014	28/09/1992	-	Active	NO
2	L17115PB1980PLC004341	NAHAR SPINNING MILLS LTD	Director	30/09/2014	25/08/2000	-	Active	NO
3	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	30/09/2014	30/06/2001	-	Active	NO
4	L24116PB1986PLC007030	IOL CHEMICALS AND PHARMACEUTICALS LIMITED	Director	27/03/2002	27/03/2002	21/05/2011	Active	NO
5	L17115PB1979PLC003994	SHREYANS INDUSTRIES LIMITED	Director	29/04/2003	29/04/2003	28/05/2011	Active	NO
6	L17122DL1989PLC035050	SPORTKING INDIA LIMITED	Director	25/04/2006	25/04/2006	-	Active	NO
7	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Director	29/09/2014	01/11/2006	-	Active	NO
8	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	30/09/2014	12/01/2007	-	Active	NO

Name :

Suresh Kumar Singla

Designation :

Director

Address :

H.No.119 C, Ward No.26, Kitchlu Nagar, Ludhiana, Punjab, India

Date of Birth/Age :

07.07.1950

Date of Appointment :

29.09.2014

DIN No.:

00403423

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	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	30/09/2014	31/07/2002	-	Active	NO
2	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Director	29/09/2014	01/11/2006	-	Active	NO
3	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	30/09/2014	30/04/2008	-	Active	NO
4	L17115PB1980PLC004341	NAHAR SPINNING MILLS LTD	Director	30/09/2014	30/06/2008	-	Active	NO
5	L51494PB2008PLC032059	Monte Carlo Fashions Limited	Director	27/06/2014	27/06/2014	-	Active	NO

Name :

Mr. Kanwar Sain Maini

Designation :

Director

Address :

H.No. 20 SF, HIG Flats, Rani Jhansi Road, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

02.07.1939

Date of Appointment :

29.09.2014

DIN No.:

00454686

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	L15143PB1983PLC018321	NAHAR INDUSTRIAL ENTERPRISES LIMITED	Director	30/09/2014	30/06/2001	-	Active	NO
2	L17115PB1988PLC008820	NAHAR POLY FILMS LIMITED	Director	30/09/2014	30/06/2001	-	Active	NO
3	L17115PB1980PLC004341	NAHAR SPINNING MILLS LTD	Director	30/09/2014	30/09/2002	-	Active	NO
4	U40300PB1949PLC001522	OSWAL WOOLLEN MILLS LTD	Director	29/09/2014	01/11/2006	-	Active	NO
5	L45202PB2006PLC029968	NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED	Director	30/09/2014	12/01/2007	-	Active	NO

KEY EXECUTIVES

Name :	Sh. Rajesh kumar dang
Designation :	Chief Finance Officer
Address :	116, Model Gram Extension, Near Kochar Market, Ludhiana-141002, Punjab, India
Date of Birth/Age :	01.01.1968
Date of Appointment :	30.08.2014
PAN No.:	ABQPD0320F
Name :	Ms. Gayathri B. Prakash
Designation :	Company Secretary
Address :	Staff Quarters – All Saints Instt of Med SCS and Res., Po Jaspal Bangar, Ludhiana, Punjab, India
Date of Birth/Age :	04.07.1979
Date of Appointment :	01.08.2008
PAN No :	AEXPG6855N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	90.73
Directors or relatives of Directors	9.04
Other top fifty shareholders	0.23
Total	100.00

BUSINESS DETAILS

Line of Business :

Company is engaged in the manufacture and exports of all types of woolen/ acrylic/ blended yarns and denim fabrics

Products :

Item Code No. (ITC Code)	Product Description
99611311	Denim Cloth

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

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 :

Not Divulged

Bankers :

Banker Name :	State Bank of India
Branch Address :	Industrial Finance Branch, Golden Tower, Dholewal Chowk, G T Rod, Ludhiana - 141003, Punjab, INDIA
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged
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)	Not Divulged

Banker Name :	State Bank of Patiala
Branch Address :	Commercial Branch Aarti Complex, Miller Ganj, Ludhiana - 141003, Punjab, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged
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)	Not Divulged

• IND. Development Bank of India, Sector 17 B, Chandigarh, Chandigarh, India
• Indian Bank, 1601 Kalsi Nagar, G T Road, Ludhiana - 141003, Punjab, India

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Rupee term loans from banks	4065.832	3645.228
Short Term Borrowing
Working capital loans from banks	2857.367	2417.796
Total	6923.199	6063.024

(Rs. In Millions)

UNSECURED LOAN	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Intercorporate borrowings	627.356	549.304
Total	627.356	549.304

Auditors :
Name :	Gupta Vigg and Company Chartered Accountants
Address :	K-101, Kismat Complex, Ludhiana, Punjab, India
PAN No.:	AAEFG0353Q
Memberships :	Not Available
Collaborators :	Not Available
Key Management Personnel and Relatives :	Atam Vallabh Financiers Limited Girnar Investment Limited J. L. Growth Fund Limited Nagdevi Trading and Investment Co. Limited Abhilash Growth Fund Private Limited Ruchika Growth Fund Private Limited Monica Growth Fund Private Limited Vanaik Investors Limited Vanaik Spinning Mills Limited
Enterprises over which Key Management Personnel is able to exercise Significant Influence :	Vardhman Investments Limited Nahar Spinning Mills Limited Nahar Poly Films Limited Nahar Industrial Enterprises Limited Nahar Capital and Financial Services Limited Cotton County Retail Limited Monte Carlo Fashions Limited HUG Foods Private Limited Sidhant and Mannat Company Limited Simran and Shanaya Company Limited Jawahar Lal Oswal Public Charitable Trust Oswal Foundation

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50,550,000	Equity Shares	Rs.10/- each	Rs.505.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15,564,470	Equity Shares	Rs.10/- each	Rs.155.645 millions

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50,550,000	Equity Shares	Rs.10/- each	Rs.505.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15339470	Equity Shares	Rs.10/- each	Rs.153.395 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	153.395	161.850	161.850
(b) Reserves & Surplus	2772.741	2506.484	2073.370
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	2.250	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2928.386	2668.334	2235.220
(3) Non-Current Liabilities
(a) long-term borrowings	4065.832	3645.228	2923.536
(b) Deferred tax liabilities (Net)	209.594	271.194	159.294
(c) Other long term liabilities	38.896	38.896	38.896
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	4314.322	3955.318	3121.726
(4) Current Liabilities
(a) Short term borrowings	3484.723	2967.100	1989.993
(b) Trade payables	1028.823	1288.387	1183.252
(c) Other current liabilities	1472.687	1014.689	580.720
(d) Short-term provisions	105.466	111.450	0.000
Total Current Liabilities (4)	6091.699	5381.626	3753.965
TOTAL	13334.407	12005.278	9110.911
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6524.286	5753.378	4014.019
(ii) Intangible Assets	5.953	3.937	2.288
(iii) Capital work-in-progress	419.622	158.963	270.073
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	288.863	272.084	272.084
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	208.244	256.839	171.805
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	7446.968	6445.201	4730.269
(2) Current assets
(a) Current investments	7.788	7.369	15.754
(b) Inventories	3055.693	3172.450	2356.117
(c) Trade receivables	1770.281	1170.555	908.438
(d) Cash and cash equivalents	146.391	503.239	498.111
(e) Short-term loans and advances	688.952	532.624	430.065
(f) Other current assets	218.334	173.840	172.157
Total Current Assets	5887.439	5560.077	4380.642
TOTAL	13334.407	12005.278	9110.911

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	13437.772	10723.814	8441.850
		Other Income	184.619	100.721	350.724
		TOTAL (A)	13622.391	10824.535	8792.574
Less	EXPENSES
		Cost of Materials Consumed	7477.298	6218.457	5429.781
		Purchases of Stock-in-Trade	67.073	208.574	186.279
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(82.434)	(412.760)	(340.830)
		Employees benefits expense	982.647	750.230	520.261
		Other expenses	2978.598	2154.482	1498.582
		TOTAL (B)	11423.182	8918.983	7294.073
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2199.209	1905.552	1498.501
Less	FINANCIAL EXPENSES (D)		698.605	565.575	372.976
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1500.604	1339.977	1125.525
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1143.765	601.912	569.772
	PROFIT BEFORE TAX (E-F) (G)		356.839	738.065	555.753
Less	TAX (H)		55.900	281.900	137.838
	PROFIT AFTER TAX (G-H) (I)		300.939	456.165	417.915
	Earnings Per Share (Rs.)
	Basic		14.83	26.76	26.16
	Diluted		14.62	26.76	26.16

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.24	4.25	4.95
Operating Profit Margin (PBDIT/Sales)	(%)	16.37	17.77	17.75
Return on Total Assets (PBT/Total Assets}	(%)	2.83	6.38	6.49
Return on Investment (ROI) (PBT/Networth)		0.12	0.28	0.25
Debt Equity Ratio (Total Debt /Networth)		2.58	2.48	2.20
Current Ratio (Current Asset/Current Liability)		0.97	1.03	1.17

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	161.850	161.850	153.395
Reserves & Surplus	2073.370	2506.484	2772.741
Share Application money pending allotment	0.000	0.000	2.250
Net worth	2235.220	2668.334	2928.386
long-term borrowings	2923.536	3645.228	4065.832
Short term borrowings	1989.993	2967.100	3484.723
Total borrowings	4913.529	6612.328	7550.555
Debt/Equity ratio	2.198	2.478	2.578

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)
	8441.850	10723.814	13437.772
		27.032	25.308

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	8441.850	10723.814	13437.772
Profit	417.915	456.165	300.939
	4.95%	4.25%	2.24%

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	Yes
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

LITIGATION DETAILS

HIGH COURT OF PUNJAB AND HARYANA
Case Details For Case CM-8048-CII-2009
Diary Number	338820	District	Ludhiana
Category:-	--	Main Case Details :	CR-1841-2009
Party Details :	ICICI Bank Limited V/s. Oswal Woolen Mills Limited
Advocate Name :	Piyush Kant Jain	List Type
Status	Pending	Next Date

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10542960	31/12/2014	424,500,000.00	Allahabad Bank	165, Industrial Area A, Industrial Finance Branch, Cheema Chowk,, Ludhiana, Punjab - 141003, INDIA	C40259939
2	10448453	20/08/2013	340,000,000.00	Indian Bank	1601,Kalsi Nagar, G T ROAD, Ludhiana, Punjab - 14  1003, INDIA	B84745397
3	10403660	09/01/2013	1,115,000,000.00	State Bank of Patiala	Commercial Branch, Miller Ganj, Aarti Complex, Ludhiana, Punjab - 141003, INDIA	B68025782
4	10330925	20/12/2011	2,850,000,000.00	ALLAHABAD BANK	IIFB BRANCH, 165 INDUSTRIAL AREA - A NEAR CHEEMA  CHOWK, LUDHIANA, Punjab - 141003, INDIA	B30291843
5	10318739	28/10/2011	630,000,000.00	INDIAN BANK	1601 KALSI NAGAR, G T ROAD, LUDHIANA, Punjab - 141003, INDIA	B25704941
6	10292957	23/05/2011	565,000,000.00	INDIAN BANK	1601, Kalsi Nagar, G.T.Road, Ludhiana, Punjab - 1 41003, INDIA	B15271018
7	10280398	25/03/2011	335,000,000.00	state bank of patiala	commercial branch, g t road miller ganj, ludhiana , Punjab - 141003, INDIA	B10643682
8	10203616	30/10/2014 *	390,000,000.00	IDBI Bank Limited	SCO 126 - 128 Kalinga Towers, Feroze Gandhi Market, Ludhiana, Punjab - 141001, INDIA	C31412182
9	10202891	04/01/2010	807,500,000.00	ORIENTAL BANK OF COMMERCE	OVERSEAS BRANCH, JANDU TOWER, G T ROAD MILLER GANJ, LUDHIANA, Punjab - 141003, INDIA	A79724001
10	10092483	27/03/2008 *	10,000,000.00	ICICI Bank Limited	ICICI Bank Towers, NBCC Place,, Bhisham Pitamah Marg, Pragati Vihar, New Delhi, Delhi - 110003, INDIA	A38318648

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Factory equipments
• Furniture and fixtures
• Vehicles
• Office equipment

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.64.04
UK Pound	1	Rs.96.02
Euro	1	Rs.70.42

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAR
Report Prepared by :	JYTK

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
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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	YES
--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.