MIRA INFORM REPORT

Report No. :	303343
Report Date :	22.01.2015

IDENTIFICATION DETAILS

Name :	UNIPRODUCTS (INDIA) LIMITED
Registered Office :	Jarthal Village Road, 84 KM Stone, Delhi Jaipur Road, P.O. Sangwari, Rewari – 123 401, Haryana
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.12.1982
Com. Reg. No.:	05-014785
Capital Investment / Paid-up Capital :	Rs. 166.099 Millions
CIN No.: [Company Identification No.]	U45201HR1982PLC014785
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACU0224D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Trader and Importer of Automotive Components and Non – Woven Fabric
No. of Employees :	600 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 2200000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well-established company having satisfactory track. Management has reported a deteriorating financial profile marked by a clip in its revenue resulting into marginally decline in its scale of operations along with a loss reported during FY14. Further the ratings also take into consideration the infusion of funds by its promoters to support the capital structure as well as to meet its working capital requirements. Trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of strong market position in the industry, the subject can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan (BBB-)
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	June 2013

Rating Agency Name	ICRA
Rating	Letter of credit (A3)
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	June 2013

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY (GENERAL INFORMATION PARTED)

Name :	Mrs. Preeti Sandhi
Designation :	Company Secretary
Contact No.:	91-120-2585590
Date :	14.01.2015

LOCATIONS

Registered Office :	Jarthal Village Road, 84 KM Stone, Delhi Jaipur Road, P O Sangwari, Rewari – 123 401, Haryana, India
Tel. No.:	91-1274-249348/ 49/ 50
Mobile No.:	91-120-2585590 (Mrs. Preeti Sandhi)
Fax No.:	91-1274-249347
E-Mail :	preeti@unitexindia.com uniproducts@unitexindia.com upil_rewari@rediffimail.com
Website :	http://www.unitexindia.com
Corporate Office :	C 15, Sector 57, Noida – 201 307, Uttar Pradesh, India
Tel. No.:	91-120-2585590/ 91/ 2587176/ 77/ 2585097
Fax No.:	91-120-2585031
E-Mail :	tkkhatri@unitexindia.com
Rewari Plant :	Jarthal Village Road, 84 KM Stone, Delhi Jaipur Highway, Village Sangwari, Rewari – 123 401, Haryana, India
Chennai Plant :	Plot No. B-36 , SIPCOT Industrial Growth Centre, Oragadam, Sriperumbudur Taluk, District Kanchipuram, Vaippur-B Village, Tamilnadu, India
Branch Offices (Lifestyle Products) :	Located at: · Chennai · Bangalore · Mumbai · Pune · Chandigarh

DIRECTORS

As on 31.09.2014

Name :

Mr. Ravinder Mehra

Designation :

Director

Address :

36, Senneville Road, Senneville, H9X1B6, Canada

Date of Birth/Age :

04.08.1941

Qualification :

B.A. (Hons.)

Date of Appointment :

24.02.1983

DIN No.:

00687921

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	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	24-02-1983	24-02-1983	-	Active	NO
2	U55101DL2007PTC170719	DARRAMEKS HOTELS & DEVELOPERS PRIVATE LIMITED	Director	30-09-2010	18-02-2010	-	Active	NO

Name :

Mr. Ashwan Kapur

Designation :

Managing director

Address :

15 Ring Road, Lajpat Nagar - IV, New Delhi – 110024, India

Date of Birth/Age :

04.08.1955

Qualification :

Ph. D (University of Leeds)

Date of Appointment :

01.08.2012

DIN No.:

00568432

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	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Managing director	01-08-2012	02-12-1982	-	Active	NO
2	U74899DL1990PTC039170	METORE MINING PRIVATE LIMITED	Director	09-02-1990	09-02-1990	-	Active	NO
3	U51396DL1994PTC059081	UNICEL IMPEX PRIVATE LIMITED	Director	17-05-1994	17-05-1994	-	Active	NO
4	U45201DL2001PTC111859	SAMARTH REALTERS PRIVATE LIMITED	Director	24-11-2001	24-11-2001	-	Strike off	NO
5	U25206DL2005PTC143671	JUKEN UNIPRODUCTS PRIVATE LIMITED	Director	20-09-2010	14-12-2005	-	Active	NO
6	U55101DL2007PTC170719	DARRAMEKS HOTELS & DEVELOPERS PRIVATE LIMITED	Director	26-11-2007	26-11-2007	-	Active	NO
7	U28999DL2014PTC271533	UNIPRODUCTS KYOSHIN PRIVATE LIMITED	Director	29-09-2014	12-09-2014	-	Active	NO

Name :

Mr. Bhaskar Dutta

Designation :

Director

Address :

84, Banarasi Dass Estate, Lucknow Road, Timarpur, Delhi – 110054, India

Date of Birth/Age :

10.03.1935

Qualification :

Ph. D (University of Leeds)

Date of Appointment :

07.12.1988

DIN No.:

00715001

Name :

Mr. Surrinder Lal Kapur

Designation :

Director

Address :

161, A/! Western Avenue, Sainik Farms, New Delhi – 110062, India

Date of Birth/Age :

07.03.1937

Qualification :

M.A., L.L. B., I.A.S.[Retired]

Date of Appointment :

27.12.2000

DIN No.:

00033312

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	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	27-12-2000	27-12-2000	-	Active	NO
2	U74110DL2001PTC111284	Grant Thornton Advisory Private Limited	Director	23-08-2002	23-08-2002	28-03-2007	Active	NO
3	U74999DL2002PLC117052	ALCHEMIST ASSET RECONSTRUCTION COMPANY LIMITED	Director	31-12-2003	31-12-2003	-	Active	NO
4	U74999DL2004PTC128172	ISHARA FOUNDATION FOR FINANCE AND RURAL DEVELOPMENT	Director	09-08-2004	09-08-2004	31-10-2012	Active	NO
5	L65190MH2003PLC143249	YES BANK LIMITED	Nominee director	27-04-2010	27-01-2005	27-01-2013	Active	NO
6	U74999DL1977PTC008682	ANIKA INTERNATIONAL Private LIMITED	Director	01-02-2005	01-02-2005	01-01-2009	Active	NO
7	U18101DL2003PLC123708	SARA TEXTILES LIMITED	Director	30-08-2005	30-08-2005	27-03-2010	Active	NO
8	L34300DL2005PLC139163	SHIVAM AUTOTECH LIMITED	Director	14-02-2006	14-02-2006	-	Active	NO
9	L45201DL1983PLC016821	ANSAL HOUSING AND CONSTRUCTION LIMITED	Director	25-09-2014	15-05-2006	-	Active	NO
10	U92199DL1999PTC102156	AERENS ENTERTAINMENT ZONE Private LIMITED	Director	27-09-2007	22-05-2007	13-05-2008	Active	NO
11	L85110GJ1994PLC022543	CLARIS LIFESCIENCES LIMITED	Director	30-09-2009	26-09-2008	-	Active	NO
12	L22122TG2002PLC040110	DECCAN CHRONICLE HOLDINGS LIMITED	Additional director	11-02-2014	11-02-2014	18-02-2014	Active	NO

Name :

Mr. Avinash Parkash Gandhi

Designation :

Director

Address :

C-2/14, Safdarjung Development Area, New Delhi – 110016, India

Date of Birth/Age :

01.10.1938

Qualification :

B.E. [Mechanical]

Date of Appointment :

30.10.2003

DIN No.:

00161107

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	L74899DL1981PLC012804	LUMAX INDUSTRIES LIMITED	Director	31-07-2002	31-07-2002	-	Active	NO
2	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	30-10-2003	30-10-2003	-	Active	NO
3	U34300MH1990PLC055300	FAIRFIELD ATLAS LIMITED	Director	31-10-2003	31-10-2003	14-03-2014	Active	NO
4	U74140DL2004PTC127802	AVINAR CONSULTING PRIVATE LIMITED	Director	22-07-2004	22-07-2004	-	Active	NO
5	U74899DL1994PTC060689	PANALFA AUTOMOTIVE PRIVATE LIMITED	Director	21-10-2004	21-10-2004	05-10-2012	Active	NO
6	L31900DL1983PLC016304	HAVELLS INDIA LIMITED	Director	09-07-2014	12-05-2005	-	Active	NO
7	U34300DL1996PLC081210	CONTINENTAL ENGINES LIMITED	Director	06-10-2005	06-10-2005	22-12-2011	Active	NO
8	L74899DL1985PLC020401	MINDA CORPORATION LIMITED	Director	10-09-2014	28-01-2006	-	Active	NO
9	L29130MH1962PLC012340	FAG BEARINGS INDIA LIMITED	Director	21-04-2011	20-04-2006	-	Active	NO
10	L74999DL1979PLC009937	INDO ALUSYS INDUSTRIES LIMITED	Director	25-09-2006	31-07-2006	-	Active	NO
11	U28920KA1995PLC017793	ALUCAST AUTO PARTS LIMITED	Director	23-01-2007	23-01-2007	01-09-2008	Active	NO
12	U29221DL2007PLC160549	PANALFA AUTOELEKTRIK LIMITED	Director	19-03-2007	19-03-2007	05-10-2012	Active	NO
13	U34300DL2007PTC157344	MINDA VALEO SECURITY SYSTEMS PRIVATE LIMITED	Director	23-09-2008	31-05-2007	-	Active	NO
14	U28910PB2001PLC024790	R.N.GUPTA AND COMPANY LIMITED	Director	30-09-2011	03-05-2008	18-03-2014	Active	NO
15	U34102TG1998PLC029977	M.L.R.MOTORS LIMITED	Director	30-09-2009	20-02-2009	10-11-2012	Active	NO
16	U29253DL2006PTC155275	MINDA FURUKAWA ELECTRIC PRIVATE LIMITED	Director	30-09-2009	03-03-2009	-	Active	NO
17	L34300DL1971PLC005634	CLUTCH AUTO LIMITED	Director	29-09-2009	18-04-2009	15-03-2013	Active	NO
18	U34300DL1988PTC030280	TECH AUTO PRIVATE LIMITED	Director	06-03-2010	06-03-2010	07-03-2014	Active	NO
19	U31905DL1981PLC127345	MINDA SAI LIMITED	Director	05-09-2014	09-04-2011	-	Active	NO

Name :

Mr. Prithvi Raj Khanna

Designation :

Director

Address :

House No. 70, Sunder Nagar, New Delhi -110003, India

Date of Birth/Age :

02.07.1933

Qualification :

B.Com., F.C.A.

Date of Appointment :

21.11.2005

DIN No.:

00048800

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	L74899DL1978PLC009038	INDAG RUBBER LIMITED	Director	25-07-2014	20-01-2000	-	Active	NO
2	L45101DL1967PLC004759	ANSAL PROPERTIES AND INFRASTRUCTURE LIMITED	Director	30-08-2003	30-08-2003	-	Active	NO
3	L74899DL1989PLC035140	DCM SHRIRAM INDUSTRIES LIMITED	Director	30-05-2014	05-10-2005	-	Active	NO
4	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	21-11-2005	21-11-2005	-	Active	NO
5	U65991MH2002GOI137867	UTI ASSET MANAGEMENT COMPANY LIMITED	Director	13-01-2006	13-01-2006	-	Active	NO
6	U64201DL1984PLC019062	CONTROLS AND SWITCHGEAR CONTACTORS LIMITED	Director	17-02-2006	17-02-2006	30-07-2007	Active	NO
7	U74999MH2006NPL163665	NABHA DEVELOPMENT INITIATIVE	Director	08-08-2006	08-08-2006	10-08-2006	Active	NO
8	U34200DL2008PTC172214	CARNATION AUTO INDIA Private LIMITED	Director	27-01-2009	27-01-2009	10-12-2013	Active	NO
9	U74999DL1979PTC009494	SELECT INFRASTRUCTURE PRIVATE LIMITED	Director	29-09-2009	08-05-2009	-	Active	NO
10	U31909DL1971PLC005672	C&S ELECTRIC LIMITED	Director	18-12-2009	09-07-2009	-	Active	NO
11	U25203DL2006PLC153993	Continental India Limited	Director	29-09-2009	20-08-2009	14-03-2011	Active	NO
12	U65900MH2011PTC217430	UTI CAPITAL PRIVATE LIMITED	Director	08-06-2012	25-08-2011	-	Active	NO

Name :

Mr. Arun Kumar Seth

Designation :

Director

Address :

30A, Friends Colony West, New Delhi – 110065, India

Date of Birth/Age :

15.01.1942

Qualification :

M.B.A (University of Leeds)

Date of Appointment :

05.09.2009

DIN No.:

00794656

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	U25206DL2005PTC143671	JUKEN UNIPRODUCTS PRIVATE LIMITED	Director	14-12-2005	14-12-2005	-	Active	NO
2	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	05-09-2009	17-11-2008	-	Active	NO
3	U28999DL2014PTC271533	UNIPRODUCTS KYOSHIN PRIVATE LIMITED	Alternate director	29-09-2014	29-09-2014	-	Active	NO

Name :

Mr. Arun Mehta

Designation :

Director

Address :

Beaconsfield, H9W4H7, 23/136, Lodhi Colony, New Delhi – 110 003, India

Date of Birth/Age :

03.09.1974

Date of Appointment :

26.07.2013

DIN No.:

06507579

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	U45201HR1982PLC014785	UNIPRODUCTS (INDIA) LIMITED	Director	26-07-2013	28-02-2013	-	Active	NO

Name :

Ms. Preeti Gandhi

Designation :

Secretary

Address :

23/136, Lodhi Colony, New Delhi – 110003, India

Date of Birth/Age :

20.04.1982

Date of Appointment :

24.07.2008

DIN No.:

AKVPG9563F

KEY EXECUTIVES

Name :	Ms. Preeti Gandhi
Designation :	Secretary
Address :	23/136, Lodhi Colony, New Delhi – 110003, India
Date of Birth/Age :	20.04.1982
Date of Appointment :	24.07.2008
PAN No.:	AKVPG9563F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.09.2014

SHAREHOLDER FILE ATTACHED OF 2014

Equity Share Break up (Percentage of Total Equity)

As on 31.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	75.01
Bodies corporate	11.13
Directors or relatives of Directors	8.85
Other top fifty shareholders	2.93
Other	2.08
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Trader and Importer of Automotive Components and Non – Woven Fabric
Products :	Automotive o Sports Flooring o Wooden Flooring o Carpets o Artificial Grass o Wallpaper Lifestyle Products, etc.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Raw Material
Countries :	Dubai China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Standard Carpet - Dubai
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 :	Maruti Suzuki - Mumbai
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 :

600 (Approximately)

Bankers :

• State Bank Of Patiala, Commercial Branch, Chandralok Building, 36, Janpath, New Delhi -110001, India
• State Bank Of Hyderabad, Commercial Branch, 74, Janpath, New Delhi - 110001, India
• The Hongkong And Shanghai Banking Corporation Limited, Birla House, 25 Barakhamba Road, New Delhi - 110001, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Term loans from others	412.231	548.231
Others loans and advances	0.000	0.316
Short-term borrowings
Working capital loans from banks	79.411	64.989
Total	491.642	613.536

Auditors :
Name :	S. N. Dhawan and Company Chartered Accountants
Address :	NEW DELHI
PAN N Income-tax PAN of auditor or auditor's firm :	AAQFS0580H
Memberships :	--
Collaborators :	--
Associates :	D E U X Montagnes Investments Limited Unicel Impex Private Limited [U51396DL1994PTC059081] Universal Paper Export Company Limited
Joint venture :	Juken Uniproducts Private Limited [U25206DL2005PTC143671]
Holding company	Uniproucts (Mauritius) Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Darrameks Hotels & Developers Private Limited [U55101DL2007PTC170719]

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16609881	Equity Shares	Rs.10/- each	Rs.166.099 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	166.099	124.697	96.932
(b) Reserves & Surplus	608.298	509.858	420.369
(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)	774.397	634.555	517.301
(3) Non-Current Liabilities
(a) long-term borrowings	495.469	702.547	505.059
(b) Deferred tax liabilities (Net)	68.656	77.343	72.910
(c) Other long term liabilities	3.208	3.278	3.328
(d) long-term provisions	6.669	4.757	6.429
Total Non-current Liabilities (3)	574.002	787.925	587.726
(4) Current Liabilities
(a) Short term borrowings	79.411	64.989	257.306
(b) Trade payables	361.202	350.154	258.435
(c) Other current liabilities	225.045	189.115	202.825
(d) Short-term provisions	11.135	14.189	10.335
Total Current Liabilities (4)	676.793	618.447	728.901
TOTAL	2025.192	2040.927	1833.928
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1318.768	1302.422	1202.423
(ii) Intangible Assets	0.112	0.883	1.857
(iii) Capital work-in-progress	2.322	5.234	15.224
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	11.340	11.340	11.340
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	46.402	40.027	45.918
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1378.944	1359.906	1276.762
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	285.780	309.410	276.325
(c) Trade receivables	316.372	294.382	222.835
(d) Cash and cash equivalents	2.189	34.621	12.387
(e) Short-term loans and advances	41.573	42.180	45.303
(f) Other current assets	0.334	0.428	0.316
Total Current Assets	646.248	681.021	557.166
TOTAL	2025.192	2040.927	1833.928

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2010.772	2070.062	1676.561
	Other Income
	TOTAL (A)	2010.772	2070.062	1676.561
Less	EXPENSES
	TOTAL (B)	1817.358	1831.987	1564.075
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	193.414	238.075	112.486
Less	FINANCIAL EXPENSES (D)	108.806	125.105	97.688
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	84.608	112.970	14.798
Less/ Add	DEPRECIATION/ AMORTISATION (F)	115.311	100.310	90.935
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(30.703)	12.660	(76.137)
Less	TAX (I)	(7.112)	4.433	(26.261)
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	(23.591)	8.227	(49.876)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	71.986	63.759	113.635
	Balance Carried to the B/S (J+K+L-M)	48.395	71.986	63.759
	Earnings / (Loss) Per Share (Rs.)	(1.42)	0.50	(3.00)

The above information has been parted by Mrs. Preeti Sondhi (Company Secretary).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(1.17)	0.40	(2.97)
Operating Profit Margin (PBIDT/Sales)	(%)	9.62	11.50	6.71
Return on Total Assets (PBT/Total Assets}	(%)	(1.53)	0.63	(4.21)
Return on Investment (ROI) (PBT/Networth)		(0.04)	0.02	(0.15)
Debt Equity Ratio (Total Debt /Networth)		0.74	1.21	1.47
Current Ratio (Current Asset/Current Liability)		0.95	1.10	0.76

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	96.932	124.697	166.099
Reserves & Surplus	420.369	509.858	608.298
Net worth	517.301	634.555	774.397
long-term borrowings	505.059	702.547	495.469
Short term borrowings	257.306	64.989	79.411
Total borrowings	762.365	767.536	574.880
Debt/Equity ratio	1.474	1.210	0.742

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	1676.561	2070.062	2010.772
		23.471	(2.864)

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	1676.561	2070.062	2010.772
Profit	(49.876)	8.227	(23.591)
	(2.97)%	0.40%	(1.17)%

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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10524523	15/09/2014	50,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA	C27522457
2	10527269	25/08/2014	77,500,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA	C30749006
3	10490150	30/04/2014 *	120,000,000.00	STATE BANK OF HYDERABAD	COMMERCIAL BRANCH, 74, JANPATH, NEW DELHI, Delhi - 110001, INDIA	C03967056
4	10484265	26/11/2014 *	110,000,000.00	STATE BANK OF HYDERABAD	COMMERCIAL BRANCH, 74, JANPATH, NEW DELHI, Delhi - 110001, INDIA	C35675529
5	10392784	24/01/2013 *	100,000,000.00	STATE BANK OF HYDERABAD	COMMERCIAL BRANCH, 74, JANPATH, NEW DELHI, Delhi - 110001, INDIA	B68982909
6	10386459	26/10/2012 *	40,000,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH,, CHANDRALOK BUILDING, 36, JANP ATH ,, NEW DELHI, Delhi - 110001, INDIA	B62263892
7	10386462	26/10/2012 *	150,000,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH,, CHANDRALOK BUILDING, 36, JANP ATH ,, NEW DELHI, Delhi - 110001, INDIA	B62264155
8	10334803	23/12/2011 *	100,000,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH,, CHANDRALOK BUILDING, 36, JANP ATH ,, NEW DELHI, Delhi - 110001, INDIA	B31868391
9	10306127	29/08/2011 *	100,000,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH,, CHANDRALOK BUILDING, 36, JANP ATH ,, NEW DELHI, Delhi - 110001, INDIA	B20783585
10	10306126	29/08/2011 *	112,500,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH,, CHANDRALOK BUILDING, 36, JANP ATH ,, NEW DELHI, Delhi - 110001, INDIA	B20782918

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Loans and advances from related parties	70.000	140.000
Other loans and advances	13.238	14.000
Total	83.238	154.000

OPERATIONS

The Company has recorded a decline in sales in the financial year 2013-14. Overall sales declined by 3% against the previous year mainly because of the slowdown in the Indian economy.

The pre-tax loss earned by the Company during 2013-14 is Rs.30.703 Millions as compared to the pre-tax profit of Rs.12.660 Millions recorded during 2012-13. The loss after tax is Rs. 23.591 Millions as compared with the profit after tax of Rs.8.227 Millions recorded during 2012-13. The automotive sector has remained in the grip of a slowdown, and has witnessed de-growth of 6% compared with FY 2012-13 which is the main reason for the poor performance of the Company during the year.

The Company will continue its efforts to reduce costs and improve efficiencies, tap new business opportunities, diversify its product portfolio, enhance value addition to its customer base and maximize capacity utilization with least cost to improve profitability. With these efforts the Company hopes to generate higher revenues and profitability.

The Company has also invested in new technology and assets for product diversification and to make available adequate manufacturing capacities for the growth that is certain to be achieved in the forthcoming years. A high technology line has been imported during the year for manufacture of technical textiles in the non-woven category.

The Company believes that the set back of the financial year 2013-14 can be reversed only through strenuous efforts in achieving "customer delight" through manufacture of world class products at competitive prices. The Company intends to strengthen its resolve to follow the paradigm of "Customer is King", and to achieve this end, the Company has continued its efforts in implementing Total Productivity Management (TPM) techniques in production. It aims to pursue lean manufacturing diligently for improving efficiencies, productivity & yield. Product diversification and new product development have been identified as thrust areas and several green, recyclable and lighter products have been launched over the years which now contribute steadily to the Company's turnover and profits. They continue to lay emphasis on safety, health, quality systems at all our plants and other cost reductions through VA/VE. Institution of energy audits and implementation of the recommendations to optimise energy consumption, as well as strict control over overhead costs is also given due importance.

FUTURE PROSPECTS

Although the automotive sector may witness moderate growth during 2014-15, the long term outlook continues to be bullish with the cars to be manufactured in India estimated to be around 5 million by the year 2015-16 and over 7.5 million by the year 2020-21. India has become a hub for small cars, as well as for outsourcing of auto components as almost all major global car manufacturers have set up manufacturing facilities in India. Their Company is well established to participate in this growth story through its existing wide range of products which it supplies to most car manufacturers in India. The Company anticipates cost pressures, but plans to maintain its margins through improved productivity, cost reductions, VA/VE measures and focus on high value added products. Further your Company intends to continue to focus on increasing sales of its lifestyle division during 2014-15 by adding new products and new and improved varieties to its existing product portfolio.

FIXED ASSETS

Tangible assets

· Land Freehold

· Leasehold

· Buildings

· Factory building

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipment’s

Intangible assets

· Computer Software

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.61.61
UK Pound	1	Rs.93.49
Euro	1	Rs.71.38

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUB
Report Prepared by :	RCH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		43

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.