MIRA INFORM REPORT

Report No. :	305325
Report Date :	28.01.2015

IDENTIFICATION DETAILS

Name :	CONCAST (INDIA) LIMITED
Registered Office :	47-48, Jolly Maker Chamber II, 4^th Floor, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.03.1973
Com. Reg. No.:	11-016413
Capital Investment / Paid-up Capital :	Rs. 9.884 Millions
CIN No.: [Company Identification No.]	U29290MH1973PLC016413
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMC10638F/ MUMC11801G
PAN No.: [Permanent Account No.]	AAACC1759M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of design, engineering, supply, supervision of erection and commissioning of continuous casting machines and other allied steel plant equipment.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of Mitsubishi Hitachi Metals Mach. Inc. Japan. It is an established company having good track record. There seems some dip in the turnover and profit of the company during FY.2014 However, general financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal 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	CARE
Rating	Short Term Bank Facilities=A1+(SO)
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	18.02.2014

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. Arvind Ghanekar
Designation :	Peoject Manager
Contact No.:	91-9820236603
Date :	27.01.2015

LOCATIONS

Registered Office :	47 – 48, Jolly Maker Chamber II, 4^th Floor, Nariman Point, Mumbai - 400021, Maharashtra, India
Tel. No.:	91-22-22027430 / 22020414
Mobile No.:	91-9820699298 (Mr. Vijay Kundan)
Fax No.:	91-22-22850480
E-Mail :	concastindia@vsnl.com concast@bom4.vsnl.net.in
Website :	http://www.concastindia.com
Corporate Office / Factory:	Concast House, 1/5, Marol Co-Operative Industrial Estate, Off Sir M Vasanji Road, Marol, Andheri (East), Mumbai 400 059, Maharashtra, India
Tel. No.:	91-22-67142228/ 28501789/ 28506845/ 67142222
Fax No.:	91-22-28515145
E-Mail :	concast@bol.net.in sales@concastindia.com concast@bom4.vsnl.net.in
Delhi Office:	Sagar Deep, Plot No. 11, 3rd Floor, LSC Saini Enclave, Vikas Marg, New Delhi – 110092, Delhi, India
Tel No.:	91-11-22373916/22370778
Kolkata Office:	153/A, VIP Road, 2nd Floor, Kolkata – 700054, West Bengal, India
Tel No.:	91-33-23559214 / 23552062

DIRECTORS

As on: 11.09.2014

Name :

Mr. Hitoshi Yasuo Kawano

Designation :

Director

Address :

S-29, First Floor, Panchsheel Park, New Delhi-110017, India

Date of Birth/Age :

30.11.1963

Date of Appointment :

30.10.2013

DIN No.:

02845315

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	U29230DL2010FTC197813	MITSUBISHI-HITACHI METALS MACHINERY SOUTH ASIA PRIVATE LIMITED	Whole-time director	01/10/2014	09/01/2010	-	Active	NO
2	U29290MH1973PLC016413	CONCAST (INDIA) LIMITED	Director	11/09/2014	30/10/2013	-	Active	NO

Name :

Mr. John Mathai Kadapuram

Designation :

Director – President

Address :

Flat No. 12, Newnarmada, Plot 24-A, Sector-14, Vashi, Navi Mumbai – 400705, Maharashtra, India

Date of Birth/Age :

07.03.1946

Qualification :

B.Sc., AMIE, Chartered Engineer

Date of Appointment :

08.08.1995

Pan No.:

AADPK2463J

Voter ID :

MT/10/054/161359

DIN No.:

00076925

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	U67120MH1962PLC012283	IRD MECHANALYSIS LIMITED	Director	27/06/1986	27/06/1986	11/07/2014	Active	NO
2	U74200MH1986PTC040846	CONCAST ENVIRONMENT TECHNOLOGIES PRIVATE LIMITED	Director	01/12/1989	01/12/1989	05/08/2014	Active	NO
3	U29290MH1973PLC016413	CONCAST (INDIA) LIMITED	Whole-time director	01/01/2013	08/08/1995	-	Active	NO
4	U74210MH1985PTC036109	JANUS CONSULTANTS PVT LTD	Director	27/12/2004	27/12/2004	05/08/2014	Active	NO

Name :

Mr. Yoshiharu Masataka Ikeda

Designation :

Director

Address :

3-24-10, Ehara-CHO, Nakano- Ku, Tokyo

Date of Birth/Age :

17.08.1962

Date of Appointment :

29.11.2013

DIN No.:

06743509

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	U29290MH1973PLC016413	CONCAST (INDIA) LIMITED	Director	11/09/2014	29/11/2013	-	Active	NO

Name :

Mr. Yoshinori Toshio Takamatsu

Designation :

Director

Address :

4-24-22, Kannondai, Saeki-Ku, Hiroshima

Date of Birth/Age :

28.08.1953

Date of Appointment :

29.11.2013

DIN No.:

06743464

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	U29290MH1973PLC016413	CONCAST (INDIA) LIMITED	Director	11/09/2014	29/11/2013	-	Active	NO

Name :

Mr. Akira Haruo Goto

Designation :

Director

Address :

3-35-407, Inokuchi Dai, Nishi-Ku, Hiroshima

Date of Birth/Age :

06.08.1960

Date of Appointment :

29.11.2013

DIN No.:

06743428

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	U29290MH1973PLC016413	CONCAST (INDIA) LIMITED	Director	11/09/2014	29/11/2013	-	Active	NO

Name :

Mr. Krishna Kumar Saxena

Designation :

Director

Address :

A-303, Gokulnagar II, Above, Chola Restaurant, Kandivali, Mumbai-400101, Maharashtra, India

Date of Birth/Age :

02.10.1947

Date of Appointment :

11.09.2014

DIN No.:

06885091

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	U29290MH1973PLC016413	CONCAST (INDIA) LIMITED	Director	11/09/2014	13/06/2014	-	Active	NO

Name :

Mr. Darius Erachshaw Udwadia

Designation :

Director

Address :

Empress Court, 142, M-Karve Road, Mumbai-400020, Maharashtra, India

Date of Birth/Age :

27.09.1939

Date of Appointment :

13.06.2014

DIN No.:

00009755

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	L24231KA1979PLC003563	ASTRAZENECA PHARMA INDIA LIMITED	Director	11/07/1979	11/07/1979	-	Active	NO
2	L61000MH1978PLC020435	ITD CEMENTATION INDIA LIMITED	Director	06/08/2014	09/02/1983	-	Active	NO
3	U67120MH1973PTC016844	J M FINANCIAL AND INVESTMENT CONSULTANCY SERVICES PRIVATE LIMITED	Director	01/10/1984	01/10/1984	26/08/2014	Active	NO
4	L85190MH1947PLC005963	WYETH LIMITED	Director	10/01/1985	10/01/1985	26/08/2014	Amalgamated	NO
5	L99999MH1863PLC000002	BOMBAY BURMAH TRADING CORPORATION LIMITED	Director	13/08/2014	28/01/1986	-	Active	NO
6	L35999TN1962PLC004792	SUNDARAM -CLAYTON LIMITED	Director	02/12/1987	02/12/1987	24/06/2009	Active	NO
7	U27109WB1931PLC007010	EUREKA FORBES LTD	Director	08/02/1989	08/02/1989	27/07/2012	Active	NO
8	U65991MH1994PTC078880	JM FINANCIAL TRUSTEE COMPANY PRIVATE LIMITED	Director	07/11/1994	07/11/1994	-	Active	NO
9	L22122TN1970PLC005795	MPS LIMITED	Director	22/05/2014	29/11/1994	-	Active	NO
10	U05110TZ1992PTC004072	HABASIT IAKOKA PRIVATE LIMITED	Director	14/03/1996	14/03/1996	-	Active	NO
11	U20103MH1971PTC015441	JEHANGIR LENTIN ESTATES PRIVATE LIMITED	Director	11/01/1999	11/01/1999	25/06/2008	Active	NO
12	U65192MH1995PLC092522	JM FINANCIAL INSTITUTIONAL SECURITIES LIMITED	Director	31/08/2000	31/08/2000	30/01/2012	Active	NO
13	L15400GJ1990PLC014265	ADF FOODS LIMITED	Director	13/09/2000	13/09/2000	21/10/2010	Active	NO
14	U73100KA1998PLC030671	AVESTHAGEN LIMITED	Director	12/04/2002	12/04/2002	07/11/2008	Active	NO
15	L32202KA1949PLC032923	ABB India Limited	Director	21/07/2005	21/07/2005	-	Active	NO
16	U67120MH1962PLC012283	IRD MECHANALYSIS LIMITED	Director	28/10/2005	28/10/2005	13/06/2014	Active	NO
17	U65990MH1990PTC055279	QUANTUM ADVISORS PRIVATE LIMITED	Director	07/11/2005	07/11/2005	-	Active	NO
18	U73100KA2005PTC035887	AVESTA NORDIC RESEARCH PRIVATE LIMITED	Director	21/09/2006	29/05/2006	25/06/2008	Active	NO
19	L67120MH1986PLC038784	JM FINANCIAL LIMITED	Director	07/09/2006	01/06/2006	-	Active	NO
20	L24120TG1961PLC000892	COROMANDEL INTERNATIONAL LIMITED	Director	18/07/2006	18/07/2006	21/07/2009	Active	NO
21	U72200TN2004PLC054408	MPS TECHNOLOGIES LIMITED	Director	04/06/2007	22/01/2007	22/04/2008	Amalgamated	NO
22	L99999MH1995PLC089008	DCB BANK LIMITED	Director	18/09/2009	27/01/2007	14/01/2014	Active	NO
23	L07010KA2004PLC033412	NITESH ESTATES LIMITED	Director	17/07/2007	27/03/2007	21/02/2013	Active	NO
24	U29130TZ2007PTC013844	ROSSI GEARMOTORS (INDIA) PRIVATE LIMITED	Director	06/07/2007	06/07/2007	-	Active	NO
25	L34103TN2004PLC054667	WABCO INDIA LIMITED	Director	01/04/2014	07/05/2008	-	Active	NO
26	U51109MH2008PTC180143	CONSERVATION CORPORATION OF INDIA PRIVATE LIMITED	Additional director	25/12/2008	25/12/2008	-	Amalgamated	NO
27	U55101MH2008PTC186772	CONSERVATION CORPORATION OF INDIA PRIVATE LIMITED	Director	24/07/2009	09/04/2009	-	Active	NO
28	U74140MH1993PTC071100	EDELMAN INDIA PRIVATE LIMITED	Director	19/02/2010	19/02/2010	26/11/2010	Active	NO
29	U74140MH1984PLC033397	JM FINANCIAL PRODUCTS LIMITED	Director	10/08/2012	14/05/2012	-	Active	NO
30	U17253MH2012FTC231579	SCA Hygiene Products India Private Limited	Director	28/05/2012	28/05/2012	-	Active	NO
31	U74999MH1922PLC000973	BOMBAY GYMKHANA LIMITED	Director	27/09/2013	27/09/2013	-	Active	NO
32	U29290MH1973PLC016413	CONCAST (INDIA) LIMITED	Director	11/09/2014	13/06/2014	-	Active	NO

KEY EXECUTIVES

Name :	Dinyar Eruch Edulji
Designation :	Company Secretary
Address :	19/ 6 Panthaky Baug, Andheri (East), Mumbai – 400069, Maharashtra, India
Date of Birth/Age :	10.08.1951
Date of Appointment :	01.04.2007

MAJOR SHAREHOLDERS

As on: 11.09.2014

Names of Shareholders	No. of Shares
Mistbushi Hitachi Metals Mach. Inc. Japan	98829
Mistbushi Hitachi Metals Mach. South Asia Private Limited, India	1
Manish Arora	1
Yutaka Matsuda	1
Hitoshi Yasuo Kawano	1
MHI Steel Mach Enginering Service Company Limited, Japan	1
Nakata Manufacturing Company Limited, Japan	1
Total	98835

Equity Share Break up (Percentage of Total Equity)

As on: 26.07.2013

Category	Percentage
Bodies corporate	19.93
Directors or relatives of directors	80.07
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of design, engineering, supply, supervision of erection and commissioning of continuous casting machines and other allied steel plant equipment.

Products :

Ø Contracts Completed/Supplies

Ø Designs and Drawings

Ø Service Charges

Ø Billet Caster

Ø Bloom Casters

Ø Slab Casters

Ø Round Casters

ITC Code	Product Descriptions
84543090	Parts of continuous casting machine

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished goods

Countries :

• Bangladesh
• Indonesia
• UAE
• Dubai
• Kenya
• Nigeria

Imports :

Products :

Raw Material

Countries :

• China
• Germany
• Europe

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS AS ON (31.03.2011)

a) Licensed capacity: Not Applicable

b) Installed Capacity: No installed capacity has yet been established as it is difficult to assess until the jobs on hand are completed. (This has not been verified by the auditors as this is a technical matter).

c) Sales and production: Since the Company is accounting contract revenue on proportionate completion method, the quantitative details with respect to sales and production have not been furnished.

GENERAL INFORMATION

Suppliers :

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

Customers :

OEM’s and Others

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

No. of Employees :

150 (Approximately)

Bankers :

Banker Name	Canara Bank
Branch Address	Tamarind Lane Branch, 8/10, Calcot House, Tamarind Lane, Mumbai - 400023, Maharashtra, India
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

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra, India
PAN No.:	AABFD7919A
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Mitsubishi Hitachi Metals Machinery Inc.
Fellow Subsidiary :	MHI Steel Machinery Engineering and Services Company Limited
Associates of Holding Company:	Mitsubishi Hitachi Metals Machinery South Asia Private Limited Nakata Manufacturing Company Limited

CAPITAL STRUCTURE

As on: 11.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
98835	Equity Shares	Rs.100/- each	Rs. 9.884 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	9.884	9.884	9.884
(b) Reserves & Surplus	350.589	276.350	719.107
(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)	360.473	286.233	728.990
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	8.136
(d) long-term provisions	19.887	20.753	13.179
Total Non-current Liabilities (3)	19.887	20.753	21.315
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	159.376	305.658	185.957
(c) Other current liabilities	189.592	228.952	216.238
(d) Short-term provisions	32.868	11.375	52.074
Total Current Liabilities (4)	381.836	545.985	454.269
TOTAL	762.196	852.971	1204.574
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.143	9.301	53.700
(ii) Intangible Assets	0.680	1.571	1.384
(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	0.000	0.000	263.003
(c) Deferred tax assets (net)	18.982	10.267	3.580
(d) Long-term Loan and Advances	93.618	96.635	136.497
(e) Other Non-current assets	0.000	0.000	51.885
Total Non-Current Assets	121.423	117.774	510.049
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	99.119	81.471	76.562
(c) Trade receivables	251.884	360.039	222.442
(d) Cash and cash equivalents	234.374	209.562	354.352
(e) Short-term loans and advances	47.428	63.928	17.102
(f) Other current assets	7.968	20.197	24.067
Total Current Assets	640.773	735.197	694.525
TOTAL	762.196	852.971	1204.574

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1520.698	1731.991	1383.925
		Other Income	25.858	36.019	4.101
		TOTAL (A)	1546.556	1768.010	1388.026
Less	EXPENSES
		Cost of materials consumed	1101.149	1281.547	965.184
		Employee benefit expense	156.462	157.669	112.915
		Other expenses	162.567	157.768	145.151
		TOTAL (B)	1420.178	1596.984	1223.250
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		126.378	174.038	164.776
Less	FINANCIAL EXPENSES (D)		1.260	3.012	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		125.118	171.026	164.776
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.777	4.442	4.446
	PROFIT BEFORE TAX (E-F) (G)		121.341	166.584	160.330
Less	TAX (H)		41.263	49.486	0.000
	PROFIT AFTER TAX (G-H) (I)		80.078	117.098	160.330
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		271.875	647.932	488.180
	APPROPRIATIONS
		Transfer to General Reserve	8.008	492.000	14.000
		Interim Dividend	4.991	0.988	19.767
		Proposed Dividend	0.000	0.000	39.534
		Dividend Distribution Tax	0.848	0.168	9.620
	BALANCE CARRIED TO THE B/S		338.106	271.875	647.932
	Earnings Per Share (Rs.)
	Basic		810.22	1184.78	1072.16

Expected Sales (2014-15) : Rs. 2000.000 Millions

The above information has been parted by Mr. Arvind (Project Manager).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	5.27	6.76	11.59
Operating Profit Margin (PBDIT/Sales)	(%)	8.31	10.05	11.91
Return on Total Assets (PBT/Total Assets}	(%)	16.33	19.77	17.09
Return on Investment (ROI) (PBT/Networth)		0.34	0.58	0.22
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.68	1.35	1.53

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	9.883	9.883	9.884
Reserves & Surplus	719.107	276.350	350.589
Net worth	728.990	286.233	360.473
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	1383.925	1731.992	1520.698
		25.151	(12.199)

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	1383.925	1731.992	1520.698
Profit	160.330	117.098	80.078
	11.59%	6.76%	5.27%

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 three 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	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
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	Yes
34]	External Agency Rating, if available	Yes

CHANGE IN OWNERSHIP OF THE COMPANY:

During the year the promoters had sold out its entire shareholding on 30^th October, 2013 to Mitsubishi-Hitachi Metals Machinery Inc. Japan, who are one of the top ten corporations in the world rankings. This will give an edge to the Company to have the latest technical know-how from them. The company has now become a wholly owned subsidiary of Mitsubishi-Hitachi Metals Machinery Inc. Japan.

NOTE: NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

• Buildings
• Plant and equipment
• Furniture and fixtures

• Vehicles

• Motor vehicles
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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. 61.46
UK Pound	1	Rs. 92.77
Euro	1	Rs. 69.03

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		54

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.