MIRA INFORM REPORT

Report Date :

01.01.2015

IDENTIFICATION DETAILS

Name :	RSPL LIMITED (w.e.f. 29.08.2011)
Formerly Known As :	RSPL PRIVATE LIMITED (w.e.f. 26.08.2011) ROHIT SURFACTANTS PRIVATE LIMITED (w.e.f. 17.06.2005) Shri mahadeo soap industries private limited
Registered Office :	119-121 (Part), Block P and T, Fazal Ganj, Kanpur – 208012, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	22.06.1988
Com. Reg. No.:	20-009771
Capital Investment / Paid-up Capital :	Rs. 440.325 Millions
CIN No.: [Company Identification No.]	U15111UP1988PLC009771
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	KNPS01923F
PAN No.: [Permanent Account No.]	AADCS7820A
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Detergent Powders and Cakes.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

A (60)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. As per registrar of companies the date of balance sheet (i.e. financial file) is shown as 31.03.2014 but the document related to the financial for the year 2013 and 2014 could not be made available from any sources. As per previous financial record of 2012, the rating reflects long and established track record of the company in the domestic detergent market by healthy capital structure and decent profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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	ICRA
Rating	Term Loans : AA
Rating Explanation	High degree of safety and low credit risk.
Date	May 2014

Rating Agency Name	ICRA
Rating	Non fund based, Short term facilities: A1+
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	May 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.

INFORMATION DECLINED

Management non co-operative (91-512-2221201)

LOCATIONS

Registered Office :	119-121 (Part), Block P and T, Fazal Ganj, Kanpur – 208012, Uttar Pradesh, India
Tel. No.:	91-512-2551201-06
Fax No.:	91-512-2550832-33
E-Mail :	info@gharidetergent.com
Website :	http://www.gharidetergent.com
Corporate Office 1 :	3^rd Floor, C-1, 2, and 3, Netaji Subhash Place, Wazirpur District Center, Pithampura, New Delhi - 110 034, India
Tel. No.:	91-11-27351856/ 32917627/ 32917821/ 32917830/ 32917702
Fax No.:	91-11-27353193
Corporate Office 2 :	Flat No.203, Kesarinath Apartment, S.V. Road, Goregaon (West), Near Filmistan Studio, Mumbai – 400 104, Maharashtra, India
Corporate Office 3 :	Safal Profitaire, C-2, 3^rd Floor, Corporate Road, Near Auda Garden, Prahladnagar, Satellite, Ahmedabad – 380 015, Gujarat, India
Factory :	Located at: v Haridwar (Uttarakhand) v Raipur (Chhattisgarh) v Bidar (Karnataka) v Bihar

DIRECTORS

As on 29.09.2014

Name :

Mr. Murli Dhar Gyanchandani

Designation :

Chairman cum Managing Director

Address :

7/189, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

20.11.1946

Date of Appointment :

01.04.2013

DIN No.:

00049298

PAN No.:

ABFPC2131C

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	U15111UP1988PLC009771	RSPL LIMITED	Managing director	01/04/2013	27/09/1995	-	Active	NO
2	U29304UP1993PTC014997	GHARI INDUSTRIES PRIVATE LIMITED	Managing director	01/05/2005	01/05/2005	-	Amalgamated	NO
3	U45202UP2005PTC030986	NIMMI BUILD TECH PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
4	U45201UP2006PTC031362	RAHUL REALATERS AND DEVELOPERS PRIVATE LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
5	U45201UP2006PTC031361	MANOJ DEVELOPERS AND INFRASTRUCTURE PRIVATE LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
6	U19116UP2009PTC038499	LEAYAN GLOBAL PRIVATE LIMITED	Director	22/10/2009	22/10/2009	-	Active	NO
7	U24233UP2010PTC040404	GHARI INDUSTRIES (INDIA) PRIVATE LIMITED	Director	28/04/2010	28/04/2010	-	Active	NO
8	U36912UP2011PTC045606	RSPL Health Private Limited	Director	06/07/2011	06/07/2011	-	Active	NO
9	U45201UP2005PTC046485	GYANCHANDANI HOUSING AND INFRASTRUCTURES PRIVATE LIMITED	Additional director	09/01/2012	09/01/2012	-	Active	NO
10	U45201UP2006PTC031363	ROHIT REAL ESTATE PRIVATE LIMITED	Additional director	09/01/2012	09/01/2012	-	Active	NO

Name :

Mr. Bimal Kumar Gyanchandani

Designation :

Managing Director

Address :

7/189, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

20.07.1960

Date of Appointment :

01.04.2013

DIN No.:

00049337

PAN No.:

ACVPK6782C

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	U29304UP1993PTC014997	GHARI INDUSTRIES PRIVATE LIMITED	Managing director	07/01/1993	07/01/1993	-	Amalgamated	NO
2	U15111UP1988PLC009771	RSPL LIMITED	Managing director	01/04/2013	11/10/1995	-	Active	NO
3	U45202UP2005PTC030986	NIMMI BUILD TECH PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
4	U45201UP2006PTC031363	ROHIT REAL ESTATE PRIVATE LIMITED	Director	14/02/2006	14/02/2006	16/01/2012	Active	NO
5	U19116UP2009PTC038499	LEAYAN GLOBAL PRIVATE LIMITED	Director	22/10/2009	22/10/2009	-	Active	NO
6	U24233UP2010PTC040404	GHARI INDUSTRIES (INDIA) PRIVATE LIMITED	Director	28/04/2010	28/04/2010	-	Active	NO
7	U36912UP2011PTC045606	RSPL Health Private Limited	Director	06/07/2011	06/07/2011	-	Active	NO

Name :

Mr. Manoj Kumar Murli Dhar Gyanchandani

Designation :

Director

Address :

7/189, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

22.10.1972

Date of Appointment :

01.04.2013

DIN No.:

00049387

PAN No.:

ACVPK6783D

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	U29304UP1993PTC014997	GHARI INDUSTRIES PRIVATE LIMITED	Managing director	01/04/2006	01/04/1996	-	Amalgamated	NO
2	U45201UP2005PTC046485	GYANCHANDANI HOUSING AND INFRASTRUCTURES PRIVATE LIMITED	Director	30/03/2005	30/03/2005	16/01/2012	Active	NO
3	U45202UP2005PTC030986	NIMMI BUILD TECH PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
4	U45201UP2006PTC031361	MANOJ DEVELOPERS AND INFRASTRUCTURE PRIVATE LIMITED	Director	14/02/2006	14/02/2006	16/01/2012	Active	NO
5	U74900UP2007PTC034107	NIF Private Limited	Managing director	19/02/2011	26/10/2007	-	Active	NO
6	U15111UP1988PLC009771	RSPL LIMITED	Whole-time director	01/04/2013	11/03/2008	-	Active	NO
7	U19116UP2009PTC038499	LEAYAN GLOBAL PRIVATE LIMITED	Managing director	01/04/2011	07/03/2011	-	Active	NO
8	U65923UP2011PTC044260	Namaste India Microfinance Private Limited	Director	06/04/2011	06/04/2011	-	Active	NO
9	U36912UP2011PTC045606	RSPL Health Private Limited	Director	06/07/2011	06/07/2011	-	Active	NO

Name :

Mr. Rahul Gyanchandani

Designation :

Director

Address :

7/189, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

02.09.1979

Date of Appointment :

01.04.2013

DIN No.:

00049468

PAN No.:

AEOPG0817K

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	U15111UP1988PLC009771	RSPL LIMITED	Managing director	01/04/2013	01/05/2004	-	Active	NO
2	U29304UP1993PTC014997	GHARI INDUSTRIES PRIVATE LIMITED	Director	01/05/2005	01/05/2005	-	Amalgamated	NO
3	U45202UP2005PTC030986	NIMMI BUILD TECH PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
4	U45201UP2006PTC031362	RAHUL REALATERS AND DEVELOPERS PRIVATE LIMITED	Director	14/02/2006	14/02/2006	16/01/2012	Active	NO
5	U74900UP2007PTC034107	NIF Private Limited	Director	26/10/2007	26/10/2007	-	Active	NO
6	U19116UP2009PTC038499	LEAYAN GLOBAL PRIVATE LIMITED	Director	30/09/2011	07/03/2011	-	Active	NO
7	U65923UP2011PTC044260	Namaste India Microfinance Private Limited	Director	06/04/2011	06/04/2011	-	Active	NO
8	U36912UP2011PTC045606	RSPL Health Private Limited	Director	06/07/2011	06/07/2011	-	Active	NO

Name :

Mr. Rohit Gyanchandani

Designation :

Director

Address :

7/189, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

10.04.1984

Date of Appointment :

01.04.2013

DIN No.:

00049486

PAN No.:

ADTPG2140B

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	U15111UP1988PLC009771	RSPL LIMITED	Whole-time director	01/04/2013	04/02/2005	-	Active	NO
2	U45201UP2005PTC046485	GYANCHANDANI HOUSING AND INFRASTRUCTURES PRIVATE LIMITED	Director	30/03/2005	30/03/2005	-	Active	NO
3	U29304UP1993PTC014997	GHARI INDUSTRIES PRIVATE LIMITED	Director	01/05/2005	01/05/2005	-	Amalgamated	NO
4	U45202UP2005PTC030986	NIMMI BUILD TECH PRIVATE LIMITED	Managing director	23/11/2005	23/11/2005	-	Active	NO
5	U45201UP2006PTC031363	ROHIT REAL ESTATE PRIVATE LIMITED	Director	14/02/2006	14/02/2006	-	Active	NO
6	U74900UP2007PTC034107	NIF Private Limited	Director	26/10/2007	26/10/2007	-	Active	NO
7	U45200UP2007PTC032769	RATAN COLONISERS PRIVATE LIMITED	Director	29/09/2009	09/03/2009	-	Active	NO
8	U74899DL1989PTC035079	OMNI FARMS PRIVATE LIMITED	Director	20/09/2010	01/06/2010	-	Active	NO
9	U19116UP2009PTC038499	LEAYAN GLOBAL PRIVATE LIMITED	Director	30/09/2011	07/03/2011	-	Active	NO
10	U65923UP2011PTC044260	Namaste India Microfinance Private Limited	Director	06/04/2011	06/04/2011	-	Active	NO
11	U36912UP2011PTC045606	RSPL Health Private Limited	Director	06/07/2011	06/07/2011	-	Active	NO
12	U45201UP2006PTC031361	MANOJ DEVELOPERS AND INFRASTRUCTURE PRIVATE LIMITED	Additional director	09/01/2012	09/01/2012	-	Active	NO
13	U45201UP2006PTC031362	RAHUL REALATERS AND DEVELOPERS PRIVATE LIMITED	Additional director	09/01/2012	09/01/2012	-	Active	NO

Name :

Mr. Tara Chand Mansinghani

Designation :

Director

Address :

Mallon, Chaubepur, Kanpur – 209 203, Uttar Pradesh, India

Date of Birth/Age :

09.07.1956

Date of Appointment :

23.06.2005

DIN No.:

00138087

PAN No.:

ADQPC4183P

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	U15111UP1988PLC009771	RSPL LIMITED	Director	23/06/2005	23/06/2005	-	Active	NO
2	U72900GJ2010PTC059524	TRUE VALUE IT APPLITECH PRIVATE LIMITED	Director	30/09/2011	01/04/2011	-	Active	NO

Name :

Dr. Rajinder Pal Singh

Designation :

Director

Address :

Unit 5, Villa – 3, 7/105, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

19.01.1952

Date of Appointment :

08.08.2006

DIN No.:

02135781

PAN No.:

ABZPS7957G

Name :

Mr. Jagnath Gupta

Designation :

Director

Address :

3/169, 3 Vishnupuri, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

19.10.1942

Date of Appointment :

01.03.2013

DIN No.:

00397952

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	L25209UP1971PLC003444	KANPUR PLASTIPACK LIMITED	Director	28/01/2003	28/01/2003	27/09/2011	Active	NO
2	L17111UP1924PLC000275	J. K. COTTON LIMITED	Director	12/08/2014	28/07/2003	-	Active	NO
3	L14106UP1995PLC019017	JAIPRAKASH ASSOCIATES LIMITED	Director	11/02/2012	03/05/2010	14/02/2012	Active	NO
4	L40101HP1994PLC015483	JAIPRAKASH POWER VENTURES LIMITED	Director	20/09/2014	14/03/2012	-	Active	NO
5	U15111UP1988PLC009771	RSPL LIMITED	Director	01/03/2013	25/10/2012	-	Active	NO
6	U40101UP2007SGC032835	Prayagraj Power Generation Company Limited	Additional director	30/09/2014	30/09/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sushil Kumar Bajpai
Designation :	Company Secretary
Address :	513, Lakhanpur Housing Society, Vikas Nagar, Kanpur – 208 024, Uttar Pradesh, India
Date of Birth/Age :	28.07.1968
Date of Appointment :	01.12.2007
PAN No.:	AEUPB9460R

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders	No. of Shares
Murli Dhar	11610000
Bimal Kumar	11008000
Manoj Kumar	6605000
Rahul Gyanchandani	6605000
Rohit Gyanchandani	6605000
Kamla Devi	1318500
Rajani Gyanchandani	281000
Total	44032500

As on 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Detergent Powders and Cakes.

Products :

Item Code No.	Product Description
3402.90	Detergent Powder
3401.20	Detergent Cake
3402.11	Acid Slurry
6401.11	Leather Shoe

Brand Names :

“GHARI”

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

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 :

Information declined by the management

Bankers :

• State Bank of India, Overseas Branch, 15/54-b, Virendra Smriti Complex, Civil Lines, Kanpur - 208001, Uttar Pradesh, India
• Standard Chartered Bank, Credit Documentation Unit, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, Delhi, India
• Citibank N.A, Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, Delhi, India
• HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India
• Allahbad Bank, Kanpur Main Branch, The Mall, Kanpur – 208001, Uttar Pradesh, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from bank	777.525	0.000
Short-term borrowings
Loans repayable on demand from others	1049.464	1476.409
Total	1826.989	1476.409

Auditors :
Name :	R. Mohla and Company Chartered Accountants
Address :	7/33, 14, Ratan Villa, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India
Tel. No.:	91-512-3047931/ 3042759
Income-tax PAN of auditor or auditor's firm :	AAHFR8042E
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	Leayan Global Private Limited [U19116UP2009PTC038499]
Associates:	Leayan Global Private Limited, India [U19116UP2009PTC038499] Namaste India Foods Private Limited, India [U74900UP2007PTC034107] Nimmi Build Tech Private Limited, India [U45202UP2005PTC030986] Namaste India Microfinance Private Limited, India [U65923UP2011PTC044260] Ghari Industries (India) Private Limited, India [U24233UP2010PTC040404] Rspl Health Private Limited, India [U36912UP2011PTC045606] Rahul Realaters And Developers Private Limited, India [U45201UP2006PTC031362] Rohit Real Estate Private Limited, India [U45201UP2006PTC031363] Manoj Developers And Infrastructure Private Limited, Indi [U45201UP2006PTC031361] Gyanchandani Housing And Infrastructures Private Limited, India [U45201UP2005PTC046485]

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
45000000	Equity Shares	Rs.10/- each	Rs. 450.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
44032500	Equity Shares	Rs.10/- each	Rs. 440.325 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	440.325	440.325
(b) Reserves & Surplus	5917.363	4563.853
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	6357.688	5004.178
(3) Non-Current Liabilities
(a) long-term borrowings	816.850	49.816
(b) Deferred tax liabilities (Net)	240.741	204.139
(c) Other long term liabilities	3.503	1.381
(d) long-term provisions	29.257	33.607
Total Non-current Liabilities (3)	1090.351	288.943
(4) Current Liabilities
(a) Short term borrowings	1794.983	1840.899
(b) Trade payables	1387.912	762.224
(c) Other current liabilities	1054.871	629.134
(d) Short-term provisions	102.351	124.291
Total Current Liabilities (4)	4340.117	3356.548
TOTAL	11788.156	8649.669
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4845.811	4033.858
(ii) Intangible Assets	7.078	6.661
(iii) Capital work-in-progress	370.829	492.406
(iv) Intangible assets under development	11.391	0.630
(b) Non-current Investments	0.200	0.200
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	593.495	526.430
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	5828.804	5060.185
(2) Current assets
(a) Current investments	53.499	7.026
(b) Inventories	2018.789	1849.592
(c) Trade receivables	143.017	64.642
(d) Cash and cash equivalents	2108.558	821.747
(e) Short-term loans and advances	1635.489	846.477
(f) Other current assets	0.000	0.000
Total Current Assets	5959.352	3589.484
TOTAL	11788.156	8649.669

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		440.325
2] Share Application Money		0.000
3] Reserves & Surplus		4832.062
4] (Accumulated Losses)		0.000
NETWORTH		5272.387
LOAN FUNDS
1] Secured Loans		1370.317
2] Unsecured Loans		44.281
TOTAL BORROWING		1414.598
DEFERRED TAX LIABILITIES		197.642
TOTAL		6884.627
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3761.155
Capital work-in-progress		528.415
INVESTMENT		6.698
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2024.344
	Sundry Debtors	281.829
	Cash & Bank Balances	937.475
	Other Current Assets	0.000
	Loans & Advances	1000.957
Total Current Assets		4244.605
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	495.969
	Other Current Liabilities	700.467
	Provisions	459.810
Total Current Liabilities		1656.246
Net Current Assets		2588.359
MISCELLANEOUS EXPENSES		0.000
TOTAL		6884.627

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2012	31.03.2011	31.03.2010
	SALES
	Income	25588.079	19365.686	18003.49
	Other Income	184.064	92.572	141.759
	TOTAL (A)	25772.143	19458.258	18145.249
Less	EXPENSES
	Cost of Materials Consumed	19402.607	14644.433
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(8.285)	(29.081)	15328.647
	Employees benefits expense	945.587	770.910
	Other expenses	2645.592	2273.788
	TOTAL (B)	22985.501	17660.050	15328.647
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	2786.642	1798.208	2816.602
Less	FINANCIAL EXPENSES (D)	187.580	163.224	218.859
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	2599.062	1634.984	2597.743
Less/ Add	DEPRECIATION/ AMORTISATION (F)	345.971	293.517	247.097
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	2253.091	1341.467	2350.646
Less	TAX (I)	526.602	278.028	569.938
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	1726.489	1063.439	1780.708
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	3267.800	3936.000	3308.065
	APPROPRIATIONS
	Transfer to General Reserve	500.000	400.000
	Interim Dividend	308.200	220.200
	Interim Dividend Tax	50.000	36.200	1152.81
	Income Tax for earlier years	5.500	1.000
	Adjustment of Prior Period Items	8.000	17.500
	Wealth Tax	1.200	0.000
	Adjustments towards Demerger of Leather and Footwear Undertaking	0.000	1056.800
	Balance Carried to the B/S	4157.700	3267.800	3935.963
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	NA	NA	76.522
	IMPORTS
	Raw Materials	NA	3523.258	2895.404
	Plant and machinery	NA	9.01	19.231
	TOTAL IMPORTS	NA	3532.268	2914.635
	Earnings / (Loss) Per Share (Rs.)	32.00	24.00	40.44

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT/Sales)	(%)	6.70	5.47	9.81
Operating Profit Margin (PBDIT / Sales)	(%)	8.81	6.93	13.06
Return on Total Assets (PBT/Total Assets}	(%)	19.75	16.45	29.36
Return on Investment (ROI) (PBT/Networth)		0.35	0.27	0.45
Debt Equity Ratio (Total Debt /Networth)		0.41	0.38	0.27
Current Ratio (Current Asset/Current Liability)		1.37	1.07	2.56

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	440.325	440.325
Reserves & Surplus	4563.853	5917.363
Net worth	5004.178	6357.688
long-term borrowings	49.816	816.850
Short term borrowings	1840.899	1794.983
Total borrowings	1890.715	2611.833
Debt/Equity ratio	0.378	0.411

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	18003.490	19365.686	25588.079
		7.566	32.131

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	18003.490	19365.686	25588.079
Profit	1780.708	1063.439	1726.489
	9.89%	5.49%	6.75%

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	No
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

UNSECURED LOAN

PARTICULARS	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Long-term Borrowings
Loans and advances from others	39.325	49.816
Short-term borrowings
Loans taken for other fixed assets	745.519	364.490
Total	784.844	414.306

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10503043	20/05/2014	1,170,000,000.00	Citi Bank N.A.	Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi, Delhi - 110001, INDIA	C06667745
2	10485984	27/03/2014	1,240,000,000.00	Standard Chartered Bank	(Acting as an Security Agent), NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA	C00873778
3	10447347	20/05/2014 *	500,000,000.00	Citi Bank N.A.	Jeevan Bharti Building, 4th Floor,, 124 Connaught Circus, Connaught Place, New Delhi, Delhi - 110001, INDIA	C06666531
4	10306878	31/08/2013 *	1,080,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B85182038
5	10294795	22/02/2013 *	900,000,000.00	Standard Chartered Bank	(acting as an security agent ) C D U, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA	B69122455
6	10280290	06/02/2013 *	500,000,000.00	YES BANK LIMITED	NEHRU CENTRE,9TH FLOOR,DISCOVERY OF INDIA, DR. A. B. ROAD, WORLI MUMBAI, MUMBAI, Maharashtra - 400018, INDIA	B71492797
7	10159976	30/07/2013 *	890,000,000.00	Standard Chartered Bank	CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARA KHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA	B85503043
8	80010216	09/09/2013 *	2,714,600,000.00	State Bank of India	Overseas Branch, 15/54-b,, Virendra Smriti Complex, Civil Lines,, Kanpur, Uttar Pradesh - 208001, INDIA	B86458627

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• Other equipments
• Computer software
• Patents

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.63.33
UK Pound	1	Rs.98.58
Euro	1	Rs.77.00

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KRN
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		60

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.