MIRA INFORM REPORT

Report No. :	304572
Report Date :	23.01.2015

IDENTIFICATION DETAILS

Name :	SRI DHANALAKSHMI COTTON AND RICE MILLS PRIVATE LIMITED
Registered Office :	D. No. 6-220, Veluru Road, Via Chilakaluripet, Ganapavaram, Guntur – 522619, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.07.1977
Com. Reg. No.:	01-002187
Capital Investment / Paid-up Capital :	Rs.31.950 Millions
CIN No.: [Company Identification No.]	U18100AP1977PTC002187
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	HYDS07855B
PAN No.: [Permanent Account No.]	AADCS1244G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Distributor of Cotton Grey Fabric, Cotton Linters, Ginning, Rice, Oil, Spinning and Power.
No. of Employees :	1800 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. As per registrar of companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to financials are not available from any source. As per available financial record of 2013, the rating reflects company’s improved operational risk profile marked by sound financial base and fair profitability margins of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

NOTES:

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

ECGC Country Risk Classification List – 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	Long Term Fund Based Limits = A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	February 2014

Rating Agency Name	ICRA
Rating	Short Term Non-Fund Based Facility = A1
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	February 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 PARTED BY

Name :	Mr. Shastri
Designation :	General Manager in Finance
Contact No.:	91-8647-254921
Date :	22.01.2015

LOCATIONS

Registered Office :	D. No. 6-220, Veluru Road, Via Chilakaluripet, Ganapavaram, Guntur – 522619, Andhra Pradesh, India
Tel. No.:	91-8647-254921-254924
Fax No.:	91-8647-254927
E-Mail :	info@sridhanalakshmi.com dsc_director@rediffmail.com
Website :	http://www.sridhanalakshmi.com
Oil / Spinning / Rice Division :	Gannavaram (VIA), Chilkaluripet, Guntur – 522619, Andhra Pradesh, India
Tel. No.:	91-8647-258233 / 258232
Fax No.:	91-8647-254925 / 254883 / 258239
Hydel Power Plant :	A. Muppalla, Ipuru Mandal, Guntur District - 522661, Andhra Pradesh, India
Textile Division :	Boppudi Village, Chilakaluripet Mandal, Guntur – 522616, Andhra Pradesh, India
Wind Power Project :	Kasturirengapuram Village, Radhapuram Taluk, Tirunalveli District – 627112, Tamilnadu, India

DIRECTORS

As on 26.09.2014

Name :

Mr. Nannapaneni Raghava Rao

Designation :

Managing Director

Address :

2^nd Line, Gandhipet, G.T. Road, Chilakaluripet, Guntur – 522616, Andhra Pradesh, India

Date of Birth/Age :

26.03.1971

Date of Appointment :

05.12.2007

PAN No.:

AAZPN4314M

DIN No. :

00486125

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	U17111AP2003PTC041997	SRI DHANALAKSHMI FIBERS PRIVATE LIMITED	Managing director	04/11/2003	04/11/2003	-	Active	NO
2	U18100AP1977PTC002187	SRI DHANALAKSHMI COTTON AND RICE MILLS PRIVATE LIMITED	Managing director	05/12/2007	05/12/2006	-	Active	NO

Name :

Mr. P. Veera Narayana

Designation :

Whole Time Director

Address :

Water Tank Road, Pandaripuram, Chilakaluripet, Guntur District – 522616, Andhra Pradesh, India

Date of Birth/Age :

02.05.1965

Date of Appointment :

12.12.1998

PAN No.:

AJNPP8287G

DIN No. :

00486169

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	U18100AP1977PTC002187	SRI DHANALAKSHMI COTTON AND RICE MILLS PRIVATE LIMITED	Whole-time director	12/12/1998	12/12/1998	-	Active	NO
2	U17111AP2003PTC041997	SRI DHANALAKSHMI FIBERS PRIVATE LIMITED	Director	14/11/2003	14/11/2003	-	Active	NO
3	U15140MH1969NPL014362	ALL INDIA COTTONSEED CRUSHERS ASSOCIATION	Director	21/09/2006	21/09/2006	-	Active	NO

Name :

Mr. Pejjai Raghava Reddy

Designation :

Whole Time Director

Address :

9th Line, Padaripuram, Chilakaluripet, Guntur District – 522616, Andhra Pradesh, India

Date of Birth/Age :

01.02.1947

Date of Appointment :

17.10.1977

PAN No.:

AENPP0504K

DIN No. :

00486207

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	U18100AP1977PTC002187	SRI DHANALAKSHMI COTTON AND RICE MILLS PRIVATE LIMITED	Whole-time director	17/10/1977	17/10/1977	-	Active	NO
2	U17111AP2003PTC041997	SRI DHANALAKSHMI FIBERS PRIVATE LIMITED	Director	04/11/2003	04/11/2003	-	Active	NO

Name :

Mr. Sadineni Hanumantha Rao

Designation :

Whole-time director

Address :

Water Tank Road, Pandaripuram, Chilakaluripet, Guntur District – 522616, Andhra Pradesh, India

Date of Birth/Age :

20.05.1956

Date of Appointment :

17.10.1977

PAN No.:

AGZPS2288M

DIN No. :

00486244

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	U18100AP1977PTC002187	SRI DHANALAKSHMI COTTON AND RICE MILLS PRIVATE LIMITED	Whole-time director	17/10/1977	17/10/1977	-	Active	NO
2	U17111AP2003PTC041997	SRI DHANALAKSHMI FIBERS PRIVATE LIMITED	Director	14/11/2003	14/11/2003	-	Active	NO

Name :

Mr. Madineni Lingaiah Choudary

Designation :

Director

Address :

243, Alagesan Road, Saibaba Colony, Coimbatore – 641011, Tamilnadu, India

Date of Birth/Age :

14.04.1951

Date of Appointment :

05.12.1997

DIN No.:

00486287

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	U18100AP1977PTC002187	SRI DHANALAKSHMI COTTON AND RICE MILLS PRIVATE LIMITED	Director	05/12/1997	05/12/1997	-	Active	NO
2	U17111AP2003PTC041997	SRI DHANALAKSHMI FIBERS PRIVATE LIMITED	Whole-time director	08/12/2003	08/12/2003	-	Active	NO
3	U18101AP2004PLC044008	BALA BALAJEE TEXTILES LIMITED	Director	18/05/2005	18/05/2005	21/05/2009	Active	NO

KEY EXECUTIVES

Name :	Mr. Shastri
Designation :	General Manager in Finance

MAJOR SHAREHOLDERS

As on 26.09.2014

Names of Shareholders	No. of Shares
Nannapaneni Raghava Rao	909000
Pejjai Raghava Reddy	130500
Sadineni Hanumantha Rao	155250
Madineni Lingaiah	128250
N. Anitha	418500
Nannapaneni Anasuyamma	173250
Murukonda Kesava Rao	135000
Shaik Mabu Subhani	87750
Vejendla Bhaskara Rao	67500
B. Prasada Rao	40500
Panguluri Peda Babu	49500
Gottipati Subbayamma	423000
Madamanchi Siva Kumari	22500
Jasti Kranthi	45000
Doppalapudi Srinivasa Rao	45000
Murukonda Hunumayamma	36000
Gottipati Srinivasa Rao	36000
Pejjai Vijaylakshmi	22500
Sadineni Lakshmi Padmavathi	22500
Sadineni Murali Mohana Rao	22500
G. Sri Devi	22500
Bandarupalli Sri Devi	22500
Perni Madhavi	22500
Bodapati Ramesh	22500
Bodapati Nagabhushanam	22500
Ch. Hari Krishna	11250
G Radhika	11250
G Hima Bindu	22500
Panguluri Subba Rao	67500
Total	3195000

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Directors or relatives of directors	65.00
Other top fifty shareholders	35.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Distributor of Cotton Grey Fabric, Cotton Linters, Ginning, Rice, Oil, Spinning and Power.
Products :	Cotton Grey Fabric Cotton Linters Ginning Rice Oil Spinning Power
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	· China · European Countries · Middle East
Imports :
Products :	Raw Material
Countries :	· Japan · Germany · Italy · Switzerland
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

1800 (Approximately)

Bankers :

· Union Bank of India, Main Road, Lakshmipuram, Guntur – 522007, Andhra Pradesh, India

· ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India

· IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

· State Bank of India, Specialised Commercial Branch, Kannavarithota, Guntur - 522004, Andhra Pradesh, India

· Export Import Bank of India, 21st Floor, World Trade Centre Complex, Centre One Building, Cufee Parade, Mumbai - 400005, Maharashtra, India

· Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India

Facilities :

CC = Rs.635.000 Millions (Union Bank of India)

LC = Rs.300.000 Millions (ICICI Bank Limited)

Secured Loan = Rs.100.000 Millions (IDBI Bank Limited)

TL = Rs.330.000 Millions (Kotak Mahindra Bank Limited)

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
LONG TERM BORROWINGS
Term loans from banks	136.876	227.384
SHORT TERM BORROWINGS
Working capital loans from banks	294.616	146.102
Total	431.492	373.486

Auditors :
Name :	Mastanaiah and Company Chartered Accountants
Address :	11 / 1 , Arundelpet, Guntur – 522002, Andhra Pradesh, India
PAN No.:	AADFM5561H
Memberships :	--
Collaborators :	--
Related Parties :	· Sri Dhanalakshmi Fibers Private Limited · Dhanalakshmi Enterprises

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3195000	Equity Shares	Rs.10/- each	Rs.31.950 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	31.950	31.950	31.950
(b) Reserves & Surplus	1711.897	1475.636	1485.879
(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)	1743.847	1507.586	1517.829
(3) Non-Current Liabilities
(a) long-term borrowings	136.876	227.384	365.623
(b) Deferred tax liabilities (Net)	246.114	215.565	225.073
(c) Other long term liabilities	14.950	14.587	12.622
(d) long-term provisions	9.462	7.365	5.482
Total Non-current Liabilities (3)	407.402	464.901	608.800
(4) Current Liabilities
(a) Short term borrowings	390.238	401.858	660.464
(b) Trade payables	157.311	95.755	118.079
(c) Other current liabilities	110.719	158.143	160.307
(d) Short-term provisions	22.688	6.684	6.684
Total Current Liabilities (4)	680.956	662.440	945.534
TOTAL	2832.205	2634.927	3072.163
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1479.501	1533.548	1585.008
(ii) Intangible Assets	0.045	0.107	0.168
(iii) Capital work-in-progress	86.029	24.718	29.421
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.500	1.490	1.490
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	49.738	86.751	53.397
(e) Other Non-current assets	0.708	1.411	9.856
Total Non-Current Assets	1617.521	1648.025	1679.340
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	637.144	525.190	1056.524
(c) Trade receivables	416.151	331.214	260.594
(d) Cash and cash equivalents	40.013	17.603	9.372
(e) Short-term loans and advances	114.535	104.086	8.841
(f) Other current assets	6.841	8.809	57.492
Total Current Assets	1214.684	986.902	1392.823
TOTAL	2832.205	2634.927	3072.163

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		4,801.492	3,630.636	3,286.732
		Other Income		5.419	4.766	7.531
		TOTAL (A)		4,806.911	3,635.402	3,294.263
Less	EXPENSES
		TOTAL (B)		4,239.129	3,417.494	2,644.681
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			567.782	217.908	649.582
Less	FINANCIAL EXPENSES (D)			82.654	109.564	63.573
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			485.128	108.344	586.009
Less	DEPRECIATION/ AMORTISATION (F)			120.581	119.533	102.539
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			364.547	(11.189)	483.470
Less	TAX (H)			119.316	(7.630)	182.144
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			245.231	(3.559)	301.326
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			1,184.522	1,234.765	980.123
Less	APPROPRIATIONS
			Transfer to General Reserve	40.000	40.000	40.000
			Dividend	7.668	5.751	5.751
			Tax on Dividend	1.303	0.933	0.933
	BALANCE CARRIED TO THE B/S			1,380.782	1,184.522	1,234.765
	EARNINGS IN FOREIGN CURRENCY
			Direct Export	167.762	156.637	314.920
			Export through Merchant/Trade house	343.086	277.939	238.158
	TOTAL EARNINGS			510.848	434.576	553.078
	IMPORTS
			Raw Materials	37.836	0.000	0.000
			Stores & Spares	9.192	9.424	7.313
			Capital Goods	34.258	0.000	60.389
	TOTAL IMPORTS			81.286	9.424	67.702
	Earnings / (Loss) Per Share (Rs.)			76.75	(1.11)	94.31

Particulars	31.03.2014
Sales Turnover (Approximately)	5449.300

Expected Sales (2013-2014): Rs.6000.000 Millions

The above information has been parted by Mr. Shastri

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	5.11	(0.10)	9.17
Operating Profit Margin (PBDIT/Sales)	(%)	11.83	6.00	19.76
Return on Total Assets (PBT/Total Assets}	(%)	13.28	(0.43)	15.90
Return on Investment (ROI) (PBT/Networth)		0.21	(0.01)	0.32
Debt Equity Ratio (Total Debt /Networth)		0.30	0.42	0.68
Current Ratio (Current Asset/Current Liability)		1.78	1.49	1.47

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	31.950	31.950	31.950
Reserves & Surplus	1485.879	1475.636	1711.897
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1517.829	1507.586	1743.847
Long Term borrowings	365.623	227.384	136.876
Short Term borrowings	660.464	401.858	390.238
Total borrowings	1026.087	629.242	527.114
Debt/Equity ratio	0.676	0.417	0.302

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	3,286.732	3,630.636	4,801.492
		10.463	32.249

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	3,286.732	3,630.636	4,801.492
Profit	301.326	(3.559)	245.231
	9.17%	(0.10%)	5.11%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last four years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

Change of address: The Registered Office of the company has been shifted from Gannavaram (VIA), Chilkaluripet, Guntur, Andhra Pradesh, India to the present address w.e.f.12.02.2013.

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
SHORT TERM BORROWINGS
Loans repayable on demand from banks	72.864	240.000
Loans and advances from directors	17.386	10.796
Loans and advances from others	5.372	4.960
Total	95.622	255.756

FUTURE OUTLOOK

Company has posted growth in sales turnover and has restored profitability to normal levels. It is satisfying to note the improvement in wind turbine mill capacity utilization levels during F.Y. 2012-13 and higher utilization levels in oil division. Operations at textile and spinning division were comfortable and hope to continue these performance levels during F.Y. 2013-14. The company expects to continue the improvement in operations and profitability with additional investments made in textiles and proposed investments in expansion of spinning division operations. The management proposes to expand operations in spinning division and textile division during the current year and next year. The expansion plans include installation of 6 additional looms in textile division, taking the total installed capacity to 96 Looms. The expansion in spinning division by way of 21,600 spindles to manufacture PV Yarn / Cotton Yarn with modern equipment is being envisaged to commensurate with the market trends.

Higher Income-tax outgo is expected to reduce the bottom line.

FINANCE

During the financial year the Company had paid installments of term loans and interest payable to Financial Institutions regularly. ICRA has continued company rating of ‘BBB+’ for long term loans and ‘A2+’ for short term loans respectively.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10442973	20/07/2013	50,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B82085622
2	10319410	31/10/2011	150,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B25940925
3	10248555	27/09/2013 *	500,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B86280336
4	10126095	06/01/2009 *	137,500,000.00	IDBI BANK LIMITED	IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	A54014147
5	10047331	01/02/2012 *	227,000,000.00	UNION BANK OF INDIA	MAIN ROAD, LAKSHMIPURAM, GUNTUR, ANDHRA PRADESH - 522007, INDIA	B31466121
6	10036008	14/02/2013 *	379,700,000.00	STATE BANK OF INDIA	SPECIALISED COMMERCIAL BRANCH, KANNAVARITHOTA, GUNTUR, ANDHRA PRADESH - 522004, INDIA	B70299276
7	80012624	22/01/2009 *	525,000,000.00	STATE BANK OF INDIA	MID CORPORATE GROUP, KANNAVARI THOTA, GUNTUR, ANDHRA PRADESH - 522004, INDIA	A56512981

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Other Building

· Plant and equipment

· Factory Equipment’s

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer Equipment’s

· Other Equipment’s

· 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 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.61.69
UK Pound	1	Rs.93.33
Euro	1	Rs.71.49

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KAR
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.