MIRA INFORM REPORT

Report No. :	302439
Report Date :	13.01.2015

IDENTIFICATION DETAILS

Name :	APT PACKAGING LIMITED (w.e.f. 29.07.2008)
Formerly Known As :	ANIL CHEMICALS AND INDUSTRIES LIMITED ANIL CHEMICALS PRIVATE LIMITED
Registered Office :	Gat No.72, Pharola Village, Post Beedkin, Aurangabad – 431005, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.06.1980
Com. Reg. No.:	11-022746
Capital Investment / Paid-up Capital :	Rs.58.040 Millions
CIN No.: [Company Identification No.]	L24100MH1980PLC022746
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer of Co-extruded Seamless Plastic Tubes.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Sick Company
Payment Behaviour :	Slow and delayed
Litigation :	Clear
Comments :	The subject company is declared as a sick unit by board for industrial and financial reconstruction. The management has registered case (Case No.81/2013) with board for industrial and financial reconstruction under sick industrial companies act. The order on which for approval for rehabilitation proposal is pending. Business is active. Payment are reported to be slow and delayed. The company can be considered for business dealing on a fully secured 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.

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED BY

Name :	Mr. Deepak Khandelwal
Designation :	Finance Department
Contact No.:	91-9960100442
Date :	07.01.2015

LOCATIONS

Registered Office/ Factory 1 :	Gat No.72, Pharola Village, Post Beedkin, Aurangabad – 431005, Maharashtra, India
Tel. No.:	91-2431-251413/ 4/ 662000
Mobile No.:	91-9960100442 (Mr. Deepak Khandelwal)
Fax No.:	91-2431-251691/ 662030
E-Mail :	aniltubes@sancharnet.in marketing@aptpackaging.in deepakkhandelwal@aptpackaging.in
Website :	http://www.aptpackaging.in
Corporate Office :	J-18 MIDC, Chikalthana, Aurangabad – 431210 Maharashtra, India
Tel. No.:	91 240 2485895
Fax No.:	91 240 2485027.
E-Mail :	info@aptpackaging.in
Factory 2 :	Khasra No. 529, 5^th KM Stone, Akabarpur Urd, Laksar-Hardwar Road, Laksar, District Hardwar, Uttarkhand, India
Sales and Marketing Office:	510/511, Janki Centre, Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-66713960
Fax No.:	91-22-66719362
E-Mail :	marketing@aptpackaging.in
Overseas Office:	Universal Toiletories Corporation Limited Unit 15, 59A, Palmerston Road, Wealdstone, Harrow, Middlesex, HA37 RR, UK
Tel. No.:	+ 44-208-4274271
Fax No.:	+ 44-208-4274270
Email:	marketing@aptpackaging.in

DIRECTORS

As on 31.03.2014

Name :	Mr. Arvind Krishnagopal Machhar
Designation :	Chairman cum Managing Director
Address :	Plot 41, Sindhi Jalna Road, Aurangabad-431003, Maharashtra, India
Date of Birth/Age :	21.04.1951
Date of Appointment :	10.07.1980
DIN No.:	00251843

Name :	Mr. Sandeep Bhagwatiprasad Machhar
Designation :	Director
Address :	Plot 41, Sindhi Jalna Road, Aurangabad-431003, Maharashtra, India
Date of Birth/Age :	02.01.1964
Date of Appointment :	14.07.1994
DIN No.:	00251892

Name :	Mr. Ravi Krishnagopal Machhar
Designation :	Director
Address :	Plot 41, Sindhi Jalna Road, Aurangabad-431003, Maharashtra, India
Date of Birth/Age :	26.02.1952
Date of Appointment :	31.07.2008
DIN No.:	00145000

Name :	Mr. Gheverchand Motilal Bothara
Designation :	Director
Address :	Plot No.30-31, Motikunj, Ahinsa Nagar, Opposite Akashwani, Aurangabad-431001, Maharashtra, India
Date of Birth/Age :	14.07.1947
Date of Appointment :	22.12.2003
DIN No.:	01616919

Name :	Mr. Balaprasad Harinarayan Tapdiya
Designation :	Director
Address :	Flat No.1, Dashmesh Nagar, Auragabad-431001, Maharashtra, India
Date of Birth/Age :	25.01.1954
Date of Appointment :	22.12.2003
DIN No.:	01295984

KEY EXECUTIVES

Name :	Mr. Deepak
Designation :	Finance Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.06.2014

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	3167758	60.18
Bodies Corporate	597500	11.35
Any Others (Specify)	53582	1.02
Trusts	53582	1.02
Sub Total	3818840	72.55
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	3818840	72.55
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	121800	2.31
Financial Institutions / Banks	900	0.02
Insurance Companies	22840	0.43
Sub Total	145540	2.77
(2) Non-Institutions
Bodies Corporate	257234	4.89
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	1040173	19.76
Any Others (Specify)	1680	0.03
Non Resident Indians	1680	0.03
Sub Total	1299087	24.68
Total Public shareholding (B)	1444627	27.45
Total (A)+(B)	5263467	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	5263467	0.00

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

Sl.No.	Name of the Shareholder	No. of Shares held	As a % of grand total (A)+(B)+(C)
		5,97,500	11.35
2	Arvind Machhar	7,67,108	14.57
3	Sunita Machhar	3,54,100	6.73
4	Dimpy Machhar	3,12,400	5.94
5	Prema Machhar	3,10,000	5.89
6	Sunil Macchhar	2,99,714	5.69
7	Anil Machhar	2,31,460	4.40
8	Kiran Machhar	1,80,000	3.42
9	Mrs Sheetal Machhar	1,00,000	1.90
10	Ravi Machhar	61,738	1.17
11	Naeneet Bhagwatiprasad Machhar	51,572	0.98
12	Mr Utsav Machhar	50,000	0.95
13	Mr Parva Machhar	50,000	0.95
14	Mr Sandep Machhar	50,000	0.95
15	Suyog Machhar	28,806	0.55
16	Utsav Machhar	28,690	0.55
17	Ravi Machhar	43,554	0.83
18	Garva Machhar	37,050	0.70
19	Sanddeep Machhar	36,922	0.70
20	Mr Arpit Machhar	22,000	0.42
21	Suyog Machhar	19,370	0.37
22	Arpit Machhar	14,934	0.28
23	Suyog Beneficial Trust	14,920	0.28
24	Nishchint Machhar	14,034	0.27
25	Sunil B Machhar	13,936	0.26
26	Utkarsh Beneficial Trust	13,120	0.25
27	Arpit Beneficial Trust	11,600	0.22
28	Parva Machhar	11,598	0.22
29	Mr Prabha Machhar	10,000	0.19
30	Gautam Kabra	7,872	0.15
31	Sandeep Machhar Huf	7,740	0.15
32	Garva Benificial Trust	6,960	0.13
33	O G Somani	6,014	0.11
34	Anil Machhar (Trustee Of Abm Trust)	4,888	0.09
35	Sarswati Devi Machhar	3,600	0.07
36	Arpit Arvind Machhar	4,100	0.08
37	Nawneet Machhar Huf	3,300	0.06
38	Nawneet Machhar	3,300	0.06
39	Sunil B Machhar (Trustee Of Sbm Trust)	3,254	0.06
40	Ravi Machhar (Trustee Of Rkm Trust)	2,940	0.06
41	Sunil Machhar Huf	2,900	0.06
42	Parva Benifical Trust	2,860	0.05
43	Kiran Anil Machhar	2,520	0.05
44	Kiran Machhar	2,240	0.04
45	Gheverchand Bothara	2,120	0.04
46	Master Garve Nawneet Machhar	1,950	0.04
47	Ankit Machhar	1,950	0.04
48	Masster Parva Ravi Machhar	1,950	0.04
49	Masster Nischint Machhar	1,950	0.04
50	Ravi Machhar Huf	1,740	0.03
51	Master Utsav Ravi Machhar	1,690	0.03
52	Anil Machhar Huf	1,300	0.02
53	Prema Ravi Machhar	1,020	0.02
54	Sheetal Machhar	800	0.02
55	Sunil Machhar (Trustee Of Sbm Trust)	620	0.01
56	Master Kanaiya Machhar	520	0.01
57	Gopikishan Machhar	228	0.00
58	Masster (Suyash) Arpit Machhar	200	0.00
59	Nawneet Machhar	120	0.00
60	Sheetal Machhar	68	0.00
	Total	38,18,840	72.55

(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

Sl. No.	Name of the Shareholder	No. of Shares held	Shares as % of Total No. of Shares
1	Nagarjuna Finance Limited	100000	1.90
2	Reliance Capital Trustee Company Limited	100000	1.90
	Total	200000	3.80

BUSINESS DETAILS

Line of Business :

Manufacturer of Co-extruded Seamless Plastic Tubes.

Products :

Products Description	Items Code No.
Co Extrute Plastic Tubes	39239090

Agencies Held :

Not Divulged

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Punjab National Bank
Branch	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	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

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Term Loans From Banks
Punjab National Bank Term Loan – II	7.370	13.601
Punjab National Bank Term Loan – III	10.376	16.812
Punjab National Bank Term Loan – IV	22.516	30.905
Punjab National Bank Term Loan – V	8.505	10.408
Punjab National Bank Term Loan – VI – FITL	5.811	2.664
Under vehicles finance scheme State Bank of India Vehicle loans	0.451	1.249
HDFC Bank Limited Vehicle loans	0.000	0.173
Deferred payment liabilities For acquisition of fixed assets	8.379	11.416
Short-term borrowings
Cash credit, packing credit post shipment and ILC acceptance	79.895	69.268
Total	143.303	156.496

Auditors :
Name :	Rathi and Bangad Chartered Accountants
Address :	Harshe Court, Opposite IMA Hall, Aurangabad – 431001, Maharashtra, India
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	NIL

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Share	Rs.10/- each	Rs.100.000 Millions

Issued Capital :

No. of Shares	Type	Value	Amount
6036417	Equity Share	Rs.10/- each	Rs. 60.364 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5263467	Equity Share	Rs.10/- each	Rs. 52.635 Millions
	Forfeited Shares		Rs. 5.405 Millions
	Total		Rs. 58.040 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	58.040	58.040	58.040
(b) Reserves & Surplus	(109.854)	(93.078)	(42.529)
(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)	(51.814)	(35.038)	15.511
(3) Non-Current Liabilities
(a) long-term borrowings	275.270	298.989	254.132
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.352	5.396	4.010
Total Non-current Liabilities (3)	281.622	304.385	258.142
(4) Current Liabilities
(a) Short term borrowings	89.085	81.557	82.605
(b) Trade payables	48.760	56.713	42.742
(c) Other current liabilities	58.007	56.895	65.062
(d) Short-term provisions	2.133	1.599	1.348
Total Current Liabilities (4)	197.985	196.764	191.757
TOTAL	427.793	466.111	465.410
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	318.420	364.454	341.855
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.309	0.309	0.309
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.727	2.449	16.181
Total Non-Current Assets	319.456	367.212	358.345
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	26.745	36.808	36.085
(c) Trade receivables	60.223	56.596	53.418
(d) Cash and cash equivalents	4.006	6.572	3.591
(e) Short-term loans and advances	3.500	2.179	3.298
(f) Other current assets	13.863	14.744	10.673
Total Current Assets	108.337	116.899	107.065
TOTAL	427.793	484.111	465.410

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	281.720	309.966	221.822
	Other Income	6.274	1.012	1.341
	TOTAL (A)	287.994	310.978	223.163
Less	EXPENSES
	Cost of Materials Consumed	110.063	140.619	98.395
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	2.780	(0.660)	(2.172)
	Employees benefits expense	38.183	38.135	32.708
	Other expenses	97.896	108.371	77.159
	Prior period Income/Expenses	0.058	0.397	(0.624)
	Exceptional Items	(17.766)	(0.002)	(13.012)
	TOTAL (B)	231.214	286.860	192.454
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	56.780	24.118	30.709
Less	FINANCIAL EXPENSES (D)	46.065	43.754	36.659
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	10.715	(19.636)	(5.950)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	27.491	30.913	28.180
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(16.776)	(50.549)	(34.130)
Less	TAX (I)	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	(16.776)	(50.549)	(34.130)
	Earnings / (Loss) Per Share (Rs.)	(3.19)	(9.60)	(6.48)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(5.95)	(16.31)	(15.39)
Operating Profit Margin (PBIDT/Sales)	(%)	20.15	7.78	13.84
Return on Total Assets (PBT/Total Assets}	(%)	(3.92)	(10.45)	(7.34)
Return on Investment (ROI) (PBT/Networth)		0.32	1.44	(2.20)
Debt Equity Ratio (Total Debt /Networth)		(7.03)	(10.86)	21.71
Current Ratio (Current Asset/Current Liability)		0.55	0.59	0.56

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	58.040	58.040	58.040
Reserves & Surplus	(42.529)	(93.078)	(109.854)
Net worth	15.511	(35.038)	(51.814)
long-term borrowings	254.132	298.989	275.270
Short term borrowings	82.605	81.557	89.085
Total borrowings	336.737	380.546	364.355
Debt/Equity ratio	21.710	(10.861)	(7.032)

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	221.822	309.966	281.720
		39.736	(9.113)

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	221.822	309.966	281.720
Profit	(34.130)	(50.549)	(16.776)
	(15.39%)	(16.31%)	(5.95%)

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE

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	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	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

PERFORMANCE REVIEW

During the sales and other income has declined to at Rs. 287.994 Millions as against Rs.310.978 Millions in the previous year. The decline was mainly due to overall week domestic economy, pressure on selling prizes due to recession, shifting of customer interest towards low cost products unhealthy competition from unorganized sector esc. However, the export sales the year have doubled to Rs. 68.304 Millions as against Rs. 33.736 Millions in the year 2012-2013

OPERATIONAL PERFORMANCE

In spite of decrease in sales the profit before interest and depreciation increased by 71.50% to Rs.39.072 Millions as against Rs.22.753 Millions in the previous year. This is result of well thought strategy cost reduction, optimum utilization of sources, better product mix and higher automation. The company has strengthened the domestic marketing team and installed various machines during the impact of the same will be seen in the coming year.

OUTLOOK

Initially the base of the Indian cosmetic industry was low but yet it was growing with the average annual growth of 12% since 1998 and now the base is reach to a reasonable level. The company has put up a new unit at uttarakhand and capacities at both the pant are increased. The efforts of their marketing team domestic and overseas expected result in higher turnover.

A The SWOT analysis of the market show encouraging trends. Huge potential is available in the Indian as well export market for their products. The market is unlimited for their products and they are poised to penetrate the market with the enhanced capacities.

However, the increasing trend in foreign currency rates, lower demand due to less GDP growth rates domestic and overseas, increased competition, increase in operation costs, higher interest and manpower costs are the concern for the industry and company.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Unrelated party
Deferred sales tax liability	52.862	52.921
Inter corporate deposits	66.746	50.428
Related party
Director	75.012	81.972
Promoters (Interest Free)	4.912	6.919
ICD from promoter group company
Short-term borrowings
Foreign currency buyers credit loan	9.190	12.289
Total	221.052	224.050

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10432371	03/05/2013	16,693,515.00	COMBITOOL LTD	IM NEUEGG 3, BARETSWIL, - 8344, SWITZERLAND	B77633204
2	10403023	20/12/2012	2,010,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKH AND - 249401, INDIA	B68098409
3	10403022	20/12/2012	3,265,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKH AND - 249401, INDIA	B68097997
4	10274864	20/12/2012 *	12,356,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKH AND - 249401, INDIA	B68098102
5	10274863	09/02/2011	182,336,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKH AND - 249401, INDIA	B08781114
6	10274648	17/11/2011 *	41,044,000.00	PUNJAB NATIONAL BANK	AURANGPURA, AURANGABAD, MAHARASHTRA - 431001, INDI A	B26526673
7	10274646	08/02/2011	41,044,000.00	PUNJAB NATIONAL BANK	AURANGPURA, AURANGABAD, MAHARASHTRA - 431001, INDI A	B08201485
8	10236143	22/06/2010	400,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKH AND - 249401, INDIA	A90683590
9	10213374	13/04/2011 *	18,000,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKH AND - 249401, INDIA	B10704591
10	10213373	20/12/2012 *	19,654,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKH AND - 249401, INDIA	B68098250

* Date of charge modification

AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED ON 31.06.2014

(Rs. In Millions)

Particulars	3 Months Ended 30.06.2014 Audited
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	73.400
b) Other operating income	0.300
Total income from Operations(net)	73.600
2.Expenditure
Changes in inventories of finished goods, work-in-progress and stock-in-trade	(1.600)
Consumption of raw material	28.400
Employees benefit expenses	9.800
Depreciation	6.900
Other expenditure	21.800
Total expenses	65.400
3. Profit from operations before other income and financial costs	11.100
4. Other income	0.000
5. Profit from ordinary activities before finance costs	(0.028)
6. Finance costs	0.000
7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	(0.028)
8. Exceptional item	0.000
9. Profit from ordinary activities before tax Expense:	(0.028)
10.Tax expenses	0.000
11.Net Profit / (Loss) from ordinary activities after tax (9-10)	(0.028)
12.Extraordinary Items (net of tax expense)	0.000
13.Net Profit / (Loss) for the period (11 -12)	(0.028)
14.Paid-up equity share capital (Nominal value Rs.2/- per share)	52.600
15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year	114.000
16.i) Earnings per share (before extraordinary items) of Rs.2/- each) (not annualised):
(a) Basic	(0.54)
(b) Diluted	(0.54)

A. Particulars of shareholding
1. Public Shareholding
- Number of shares	1444915
- Percentage of shareholding	27.45%
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	NIL
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	NA
Percentage of shares (as a % of total share capital of the company)	NA
b) Non Encumbered
Number of shares	3818552
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	100%
Percentage of shares (as a % of total share capital of the company)	72.55%

NOTE:

In view of the uncertainties about the future profits and as a matter of prudence the company has not recognized the deferred tax assets in the accounts.

The Company has been registered with Board for Industrial and Financial Reconstruction (BIFR) vide order dated November 21,2013. BIFR in hearing dated January 30,2014 has appointed Punjab National Bank as Operating Agency (OA). The Company has submitted Draft rehabilitation Scheme to OA.

Being only segment and no discontinued operations, the relevant data are not furnished

The above results have been taken on by the Board of Directors at their meeting held on August 09,2014 at Aurangabad.

FIXED ASSETS

• Land
• Building
• Plant and Equipment
• Furniture and Fixture
• Office Equipment
• Computer

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.62.16
UK Pound	1	Rs.94.28
Euro	1	Rs.73.73

INFORMATION DETAILS

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

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.