MIRA INFORM REPORT

Report No. :	304458
Report Date :	24.01.2015

IDENTIFICATION DETAILS

Name :	RUNGTA IRRIGATION LIMITED (w.e.f. 09.05.1994)
Formerly known as :	JINDAL IRRIGATION PRIVATE LIMITED
Registered Office :	101, Pragati Towers 26, Rajendra Place New Delhi – 110008
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.04.1986
Com. Reg. No.:	55-023934
Capital Investment / Paid-up Capital :	Rs. 88.561 Millions
CIN No.: [Company Identification No.]	L74899DL1986PLC023934
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACR0829F
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturing and Assembling of Micro Irrigation Systems for Sale Primarily in Domestic Market.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 1600000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings at usual trade terms and condition.

NOTES :

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

ECGC Country Risk Classification List – 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 Facilities = BB-
Rating Explanation	Inadequate degree of safety and high credit risk.
Date	March 2014

Rating Agency Name	ICRA
Rating	Short Term Non Fund Based Facilities = A4
Rating Explanation	Minimal degree of safety and high credit risk.
Date	March 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.

LOCATIONS

Registered Office/ Head Office :	101, Pragati Towers 26, Rajendra Place New Delhi – 110008, India
Tel. No.:	91-11-45090900/32905291/ 64000500/ 501/ 502/ 503/ 504
Fax No.:	91-11-45090931
E-Mail :	info@rungtairrigation.in rungtareception@gmail.com
Website :	www.rungtairrigation.in
Zonal Office:	B -7, Electronic Complex, Kushaiguda, Hyderabad – 500062, Andhra Pradesh, India
Tel. No.:	91-40-27130322
Fax No.:	91-40-27130323
Factory	C-165, Bulanshahhar Road, Industrial area, Ghaziabad, Uttar Pradesh, India
Branches :	Located at · Hyderabad · Pondicherry · Haryana · Bhopal · Jabalpur · Raipur · Jaipur · Bangalore · Kolkata · Sillguri · Nagpur · Bhubaneshwar
Works/Branch/Depot	Located at · Ghaziabad · Calcutta · Bhopal · Bangalore · Hyderabad · Yanam · Jodhpur · Patna · Ranchi · Bhiwani · Jaipur · Sikar · Jabalpur · Raipur · Bhubaneshwar · Burhanpur

DIRECTORS

As on 29.09.2014

Name :

Mr. Mahabir Prasad Rungta

Designation :

Managing Director

Address :

S-75, Panchsheel Park, New Delhi-110017, India

Date of Birth/Age :

07.01.1955

Qualification :

Graduate

PAN No.:

ABQPR5569L

Date of Appointment :

23.09.2014

Din No.:

00235632

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	L74140WB1983PLC035828	RUNGTA PROJECTS LIMITED	Director	15/04/2009	23/06/1986	05/04/2010	Active	NO
2	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Managing director	23/09/2014	03/08/1993	-	Active	NO
3	U74899DL1993PTC055894	SAMARA REALTY PRIVATE LIMITED	Director	07/01/2000	07/01/2000	10/08/2009	Active	NO
4	U27109WB2004PTC139875	RAMGARH SPONGE IRON PRIVATE LIMITED	Director	30/09/2006	19/10/2005	-	Active	NO
5	U29120OR2007PTC009219	RUNGTA MICRO IRRIGATION PRIVATE LIMITED	Director	14/03/2007	14/03/2007	-	Active	NO
6	U29248DL2007PTC165772	GLOBAL EARTH MOVERS PRIVATE LIMITED	Director	12/07/2007	12/07/2007	-	Active	NO
7	U40101OR1992PTC002992	KALINGA POWER CORPORATION PRIVATE LIMITED	Director	29/09/2012	30/04/2012	-	Active	NO
8	U70101DL2012PTC245507	MP HOMES PRIVATE LIMITED	Director	30/11/2012	30/11/2012	-	Active	NO

Name :

Mr. Krishna Murthy Nagarur

Designation :

Managing Director

Address :

Flat No.202, Block A, Street No.11, Vishnu, Residency, 1-1-7701A, Gandhi Nagar, Hyderabad, Andhra Pradesh, India

Date of Birth/Age :

15.06.1952

Qualification :

CA, CS & CWA

PAN No.:

AAUPN7691L

Date of Appointment :

05.08.2013

Din No.:

00255537

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	U29219TG1988PTC008819	JISL IRRIGATION PRIVATE LIMITED	Director	05/07/1988	05/07/1988	-	Active	NO
2	U03230KA1997PTC022012	TECHNOMARK TELEVISION NETWORK PRIVATE LIMITED	Director	25/03/1997	25/03/1997	-	Active	NO
3	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Managing director	05/08/2013	20/12/1997	-	Active	NO

Name :

Ms. Shruti Rungta

Designation :

Whole-Time Director

Address :

S-75, Panchsheel Park, New Delhi-110017, India

Date of Birth/Age :

19.08.1981

Qualification :

B.B.A. & B.COM

PAN No.:

AGLPR0426

Date of Appointment :

05.08.2013

Din No.:

00229045

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Whole-time director	05/08/2013	28/09/2004	-	Active	NO
2	U27109WB2004PTC139875	RAMGARH SPONGE IRON PRIVATE LIMITED	Director	28/09/2004	28/09/2004	20/07/2007	Active	NO

Name :

Mr. Tarun Kumar Megotia

Designation :

Whole-Time Director

Address :

S-75, Panchsheel Park, New Delhi-110017, India

Date of Birth/Age :

24.10.1987

Qualification :

Graduate

PAN No.:

AOOPM0183L

Date of Appointment :

05.08.2013

Din No.:

01098092

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Whole-time director	05/08/2013	16/12/2006	-	Active	NO
2	U29248DL2007PTC165772	GLOBAL EARTH MOVERS PRIVATE LIMITED	Director	12/07/2007	12/07/2007	-	Active	NO
3	U29120OR2007PTC009219	RUNGTA MICRO IRRIGATION PRIVATE LIMITED	Director	20/08/2008	20/08/2008	-	Active	NO
4	U65999WB1995PTC075994	PLEASURE INVESTMENT PVT LTD	Director	01/09/2009	09/09/2008	-	Active	NO
5	U51109WB2008PTC129159	VAISHNODEVI VINIMAY PRIVATE LIMITED	Director	14/01/2013	14/01/2013	-	Active	NO

Name :

Mr. Mahavir Prasad Kaushik

Designation :

Director

Address :

B -145, 1^st Floor, Sector – 19, Noida, India

Date of Appointment :

29.09.2000

Din No.:

02775769

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	29/09/2009	31/07/2009	-	Active	NO
2	U29299DL1973PLC006646	UNIVERSAL CONVEYER BELTINGS LTD	Director	29/09/2013	15/07/2013	-	Active	NO

Name :

Mr. Sheo Kumar Poddar

Designation :

Director

Address :

R -3C, Belar Apartment, Main Road, Ranchi -1, Jharkhand, India

Date of Appointment :

29.09.2009

Din No.:

00992376

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	U60210JH1994PTC005987	VASUDHA TRAVELS PRIVATE LIMITED	Director	20/07/1994	20/07/1994	-	Active	NO
2	U91110JH2001NPL012049	ASSOCIATED CHAMBER OF JHARKHAND INDUSTRIES	Director	06/02/2001	06/02/2001	-	Active	NO
3	U50401OR2006PTC009046	GARUDA VAHAN PRIVATE LIMITED	Director	01/12/2006	01/12/2006	-	Active	NO
4	U27106WB1974PLC029718	CENTURY ALUMINIUM MANUFACTURING CO LTD	Director	14/08/2007	14/03/2007	-	Active	NO
5	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	29/09/2009	31/07/2009	-	Active	NO

Name :

Mr. Manish Kumar

Designation :

Director

Address :

A/1, Pallavi Apartment –CPP, Rundh, Jakatnaka Dumas Road, Piplod Surat -395007, Gujarat, India.

Date of Appointment :

24.09.2013

Din No.:

02846102

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	24/09/2013	09/04/2010	-	Active	NO
2	U17119GJ1991PTC016734	PACHHIGAR FILAMENTS PRIVATE LIMITED	Director	30/11/2011	30/11/2011	29/02/2012	Active	NO

Name :

Mr. Vikash Kumar Megotia

Designation :

Director

Address :

A/1, Pallavi Apartment –CPP, Rundh, Jakatnaka Dumas Road, Piplod Surat -395007, Gujarat, India.

Date of Appointment :

23.09.2014

Din No.:

03169745

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	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	23/09/2014	30/04/2010	-	Active	NO
2	U74899DL1993PTC055894	SAMARA REALTY PRIVATE LIMITED	Director	24/08/2013	24/08/2013	-	Active	NO

Name :

Mr. Devanand Mishra

Designation :

Director

Address :

Flat No.1339, Sector –D, Pockeat-1, Vasant Kunj, New Delhi -70, India

Date of Appointment :

29.07.2005

Din No.:

00229118

Name :

Mr. Prakash Kumar Megotia

Designation :

Director

Address :

707, Jeevandeep, Opposite JX Tower, Ring Road, Surat -395002. Gujarat, India

Date of Appointment :

30.09.2010

Din No.:

01130661

Name :

Mr. Aditya Rasiwasia

Designation :

Director

Address :

B-6, Darya Mahal 80, Nepeansea Road, Mumbai – 400006, Maharashtra, India

Date of Appointment :

24.09.2013

Din No.:

01106283

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	U21010MH1981PTC024447	CHANDRI PAPER AND ALLIED PRODUCTS PRIVATE LIMITED	Director	18/08/1999	18/08/1999	-	Active	NO
2	U20299AS1974PTC001485	ASSAM WOOD PRODUCTS PVT LTD	Director	18/08/1999	18/08/1999	25/09/2011	Active	NO
3	U51900MH1978PTC020074	SWADESHI MARKETING PRIVATE LIMITED	Director	03/10/2000	03/10/2000	15/10/2014	Active	NO
4	U24242WB2004PTC099294	KRISHNA WAX PRIVATE LIMITED	Director	29/07/2004	29/07/2004	-	Active	NO
5	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	24/09/2013	02/04/2013	-	Active	NO
6	U51109WB2007PTC113514	MANORATH DISTRIBUTORS PRIVATE LIMITED	Director	15/11/2013	15/11/2013	-	Active	NO

Name :

Mr. Samrat Jain

Designation :

Director

Address :

20/7, Rajpur Road, New Delhi – 110054, India

Date of Appointment :

24.09.2013

Din No.:

00060082

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
1	U74999DL1998PTC094621	A L JAIN OVERSEAS PRIVATE LIMITED	Director	15/04/2004	15/04/2004	-	Active
2	U74900DL2010PTC199080	DBS BUILDING PRODUCTS PRIVATE LIMITED	Managing director	15/02/2010	15/02/2010	-	Active
3	L74899DL1986PLC023934	RUNGTA IRRIGATION LIMITED	Director	24/09/2013	20/07/2013	-	Active

Name :

Mr. Anuj Kumar Singh

Designation :

Director

Address :

House No. 42, Road No. 1, Kashidih East, Sakachi, Jamshedpur, Jharkhand, India

Date of Appointment :

23.09.2014

Din No.:

06895513

KEY EXECUTIVES

Name :	Mrs. Pooja Juneja
Designation :	Secretary
Date of Appointment :	02.01.2013
Pan No.:	ALGPJ9872J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Bodies Corporate	1783800	20.14
Any Others (Specify)	1609200	18.17
Directors/Promoters & their Relatives & Friends	1609200	18.17
Sub Total	3393000	38.31
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	3393000	38.31
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	2000	0.02
Financial Institutions / Banks	23933	0.27
Any Others (Specify)	50000	0.56
Stressed Assets Stabilisation Fund	50000	0.56
Sub Total	75933	0.86
(2) Non-Institutions
Bodies Corporate	4525266	51.10
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	747203	8.44
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	98600	1.11
Any Others (Specify)	16098	0.18
Non Resident Indians	12822	0.14
Hindu Undivided Families	2776	0.03
Clearing Members	500	0.01
Sub Total	5387167	60.83
Total Public shareholding (B)	5463100	61.69
Total (A)+(B)	8856100	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)	8856100	0.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Assembling of Micro Irrigation Systems for Sale Primarily in Domestic Market.

Products :

Product Description	Item Code No. (ITC Code)
Irrigation Systems And Pipes	7412

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Banker Name 1	ICICI Bank Limited
Branch Address	Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India
Banker Name 2	Allahabad Bank
Branch Address	Industrial Finance Branch, 17, Parliament Street, New Delhi - 110001, Delhi, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

Secured Loan	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Loans Taken for Vehicles	1.099	2.269
Short Term Borrowing
Working Capital Loans from Banks	112.345	82.595
Total	113.444	84.864

Auditors :
Name :	ANDROS and Company Chartered Accountant
Address :	B.O. : 304, Mohan Tower, 1-Community Centre, Wazirpur Industrial Area, Delhi-110052, India
PAN No.:	AABFS7061C
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Samara Realty Private Limited, India CIN No.: U74899DL1993PTC055894 Ramgarh Sponge Iron Private Limited, India CIN No.: U27109WB2004PTC139875 Kishan Maharaj and Company Ajanta Minerals

CAPITAL STRUCTURE

As on 23.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions
600000	Preference Shares	Rs.100/- each	Rs.60.000 Millions
	Total		Rs. 160.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8856100	Equity Shares	Rs.10/- each	Rs.88.561 Million

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	88.561	113.561	121.961
(b) Reserves & Surplus	464.437	454.547	444.784
(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)	552.998	568.108	566.745
(3) Non-Current Liabilities
(a) long-term borrowings	2.029	3.199	3.333
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	103.271	88.496	82.376
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	105.300	91.695	85.709
(4) Current Liabilities
(a) Short term borrowings	112.345	82.595	106.707
(b) Trade payables	18.322	36.155	47.920
(c) Other current liabilities	60.276	93.480	82.819
(d) Short-term provisions	11.883	10.356	10.353
Total Current Liabilities (4)	202.826	222.586	247.799
TOTAL	861.124	882.389	900.253
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	101.732	104.852	110.404
(ii) Intangible Assets	0.032	0.053	0.000
(iii) Capital work-in-progress	1.554	0.551	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	224.885	226.474	227.714
(c) Deferred tax assets (net)	3.768	3.045	2.166
(d) Long-term Loan and Advances	37.236	49.889	48.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	369.207	384.864	388.284
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	129.193	106.135	102.585
(c) Trade receivables	251.874	313.243	287.216
(d) Cash and cash equivalents	18.387	23.285	35.441
(e) Short-term loans and advances	91.824	53.922	85.073
(f) Other current assets	0.639	0.940	1.654
Total Current Assets	491.917	497.525	511.969
TOTAL	861.124	882.389	900.253

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	640.188	631.647	810.954
		Other Income	10.204	12.311	11.359
		TOTAL	650.392	643.958	822.313
Less	EXPENSES
		Cost of Materials Consumed	444.444	413.073	609.119
		Purchases of Stock-in-Trade	40.293	31.022	6.156
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(24.948)	3.987	(2.496)
		Employees benefits expense	43.565	39.876	39.143
		Other expenses	107.344	115.009	120.049
		Prior Period Items	0.000	(0.030)	(0.078)
		TOTAL	610.698	602.937	771.893
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		610.698	602.937	771.893
Less	FINANCIAL EXPENSES		11.601	11.483	18.452
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		28.093	29.538	31.968
Less/ Add	DEPRECIATION/ AMORTISATION		13.227	15.349	15.788
	PROFIT/ (LOSS) BEFORE TAX		14.866	14.189	16.180
Less	TAX		4.977	4.426	5.076
	PROFIT/ (LOSS) AFTER TAX		9.889	9.763	11.104
	EARNINGS IN FOREIGN CURRENCY		53.476	13.677	18.157
	Earnings Per Share (Rs.)		1.12	1.10	1.25

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.54	1.55	1.37
Operating Profit Margin (PBDIT / Sales)	(%)	6.20	6.49	6.22
Return on Total Assets (PBT/Total Assets}	(%)	2.36	2.18	2.41
Return on Investment (ROI) (PBT/Networth)		0.03	0.02	0.03
Debt Equity Ratio (Total Debt /Networth)		0.21	0.15	0.19
Current Ratio (Current Asset/Current Liability)		2.43	2.24	2.07

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	121.961	113.561	88.561
Reserves & Surplus	444.784	454.547	464.437
Net worth	566.745	568.108	552.998
long-term borrowings	3.333	3.199	2.029
Short term borrowings	106.707	82.595	112.345
Total borrowings	110.040	85.794	114.374
Debt/Equity ratio	0.194	0.151	0.207

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	810.954	631.647	640.188
		-22.111	1.352

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	810.954	631.647	640.188
Profit	11.104	9.763	9.889
	1.37%	1.55%	1.54%

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	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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Loans and advances from others	0.930	0.930
Total	0.930	0.930

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	CHARGE HOLDER	ADDRESS	Service Request Number (SRN)
1	10512511	08/07/2014	1,118,700.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	C14799902
2	80013308	11/10/2011 *	220,000,000.00	ALLAHABAD BANK	INDUSTRIAL FINANCE BRANCH, 17, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA	B24063000

* Date of charge modification

YEAR IN RETROSPECT

The Sales turnover for the year was Rs. 650.392 Millions as compared to Rs.643.958 Millions for the previous year. The Company was able to earn a profit after tax for the year is Rs. 9.890 Millions as against a profit of Rs. 9.763 Millions for the previous year.

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office equipment
• Computer Equipments

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.61.50
UK Pound	1	Rs.92.16
Euro	1	Rs.69.62

INFORMATION DETAILS

Information Gathered by :
Analysis Done by :	KAR
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.