MIRA INFORM REPORT

Report No. :	330155
Report Date :	03.07.2015

IDENTIFICATION DETAILS

Name :	KISHOR PUMPS PRIVATE LIMITED ENVIRO PUMPS DIVISION OF KISHORE PUMS PRIVATE LMITED
Registered Office :	A-13/H, M.I.D.C., Pimpri, Pune – 411 018, Maharashtra
Tel. No.:	91-20-27473570
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.09.1965
Com. Reg. No.:	11-013333
Capital Investment / Paid-up Capital :	Rs.9.722 Million
CIN No.: [Company Identification No.]	U31909PN1965PTC013333
IEC No.:	0388033304
TAN No.: [Tax Deduction & Collection Account No.]	PNEK05268E
PAN No.: [Permanent Account No.]	AABCK0619B
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacture and sale of pumps.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1965. It is engaged in the business of manufacturing of all types of pumps and spares. It is an established company having satisfactory track record. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Pune. Its authorized share capital is Rs.10.000 million and its paid-up capital is Rs.9.722 million. There seem dip in the turnover and profit of the company during 2014. Profitability of the company also seems to be low during 2014. However, general financial position of the company seems to be decent. Trade relations are reported as 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Prasad
Designation :	Account Department
Contact No.:	91-9011011390
Date :	02.07.2015

LOCATIONS

Registered Office/ Corporate Management Division/ Industrial Pumps Division :	A-13/H, M.I.D.C., Pimpri, Pune – 411 018, Maharashtra, India
Tel. No.:	91-20-27473570 91-20-27472616 (Industrial Pumps Division)
Fax No.:	91-20-27470570 91-20-27470616 (Industrial Pumps Division)
E-Mail :	laxman.nyayadhish@kishorpumps.com pune@kishorpumps.com pimpri@kishorpumps.com
Website :	http://www.kishorpumps.com
Location :	Owned
Corporate Office/ Customer Support Division :	22, Barve Complex, 1170/1, J. M. Road, Shivaji Nagar, Pune – 411 005, Maharashtra, India
Tel. No.:	91-20-25535449/ 59
Fax No.:	91-20-25535129
E-Mail :	csd@kishorpumps.com
Enviro Pumps Division :	675/2, Pune-Nashik Highway, Kuruli (Chakan), Pune – 410 501, Maharashtra, India
Tel. No.:	91-2135-261051
Fax No.:	91-2135-261185
Regional Office :	Located at: · Navi Mumbai · Chennai · New Delhi · Vadodara · Secunderabad · Kolkata

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Kishor Narayan Desai

Designation :

Managing Director

Address :

Kishor, 132/2, ITI Road, Aundh, Pune – 411 007, Maharashtra, India

Date of Birth/Age :

15.11.1957

Date of Appointment :

01.10.1979

DIN No.:

00108543

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	U31909PN1965PTC013333	KISHOR PUMPS PRIVATE LIMITED	Managing director	01/10/1979	01/10/1979	-	Active	NO
2	U65993MH1983PTC029277	NALINI NARAYAN INVESTMENT PRIVATE LIMITED	Director	08/02/1983	08/02/1983	-	Active	NO
3	U32109PN1988PTC048151	SHALIN ELECTROMECH PRIVATE LIMITED	Director	18/07/1988	18/07/1988	-	Active	NO
4	U25199PN1996PTC096476	KISHOR VALVES PRIVATE LIMITED	Director	22/01/1996	22/01/1996	-	Active	NO
5	U29100MH1997PTC111528	ENCARE ELECTROMECH PRIVATE LIMITED	Director	14/02/2009	24/10/1997	-	Active	NO
6	U29120PN2001PTC016295	NEERA PUMPS AND VALVES PRIVATE LIMITED	Director	03/07/2001	03/07/2001	-	Active	NO
7	U74999PN2001PTC016294	KISHOR ENCARE GLOBAL PRIVATE LIMITED	Director	03/07/2001	03/07/2001	-	Active	NO
8	U29100PN2005PTC020805	FLOWCARE (INDIA) PRIVATE LIMITED	Director	30/05/2005	30/05/2005	-	Active	NO
9	U27106PN2005PTC020927	SARAS FINECAST PRIVATE LIMITED	Director	24/06/2005	24/06/2005	-	Active	NO
10	U28910PN2000PTC015281	SARAS TECHPARTS PRIVATE LIMITED	Director	01/06/2006	01/06/2006	-	Active	NO
11	U29100PN2008PTC132740	KISHOR METRO PUMPS PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Active	NO
12	U74999PN2008PTC142918	ENCARE EARTH SOLUTIONS PRIVATE LIMITED	Director	11/09/2008	11/09/2008	-	Active	NO

Name :

Mrs. Bhagyashree Kishor Desai

Designation :

Director

Address :

37/5, Padmini Lane, 10, Prabhat Road, Pune – 411 004, Maharashtra, India

Date of Birth/Age :

14.02.1958

Date of Appointment :

26.06.1990

DIN No.:

00165573

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	U31909PN1965PTC013333	KISHOR PUMPS PRIVATE LIMITED	Director	26/06/1990	26/06/1990	-	Active	NO
2	U25199PN1996PTC096476	KISHOR VALVES PRIVATE LIMITED	Director	22/01/1996	22/01/1996	-	Active	NO
3	U29100MH1997PTC111528	ENCARE ELECTROMECH PRIVATE LIMITED	Director	17/09/1998	17/09/1998	25/03/2009	Active	NO
4	U28910PN2000PTC015281	SARAS TECHPARTS PRIVATE LIMITED	Director	05/09/2000	05/09/2000	-	Active	NO
5	U29100PN2005PTC020805	FLOWCARE (INDIA) PRIVATE LIMITED	Director	30/05/2005	30/05/2005	-	Active	NO
6	U91990PN2013NPL148712	INDIAN FILM TELEVISION ENTERTAINMENT ASSOCIATION	Director	04/09/2013	04/09/2013	-	Active	NO
7	U74999PN2001PTC016294	KISHOR ENCARE GLOBAL PRIVATE LIMITED	Director	27/09/2014	15/11/2013	-	Active	NO

Name :

Mr. Siddharth Kishor Desai

Designation :

Whole-time Director

Address :

759/117, Deccan Gymkhana, Prabhat Road, Pune – 411 004, Maharashtra, India

Date of Birth/Age :

12.06.1984

Date of Appointment :

01.04.2008

DIN No.:

00169175

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	U31909PN1965PTC013333	KISHOR PUMPS PRIVATE LIMITED	Whole-time director	01/04/2008	01/01/2003	-	Active	NO
2	U28910PN2000PTC015281	SARAS TECHPARTS PRIVATE LIMITED	Director	27/10/2003	27/10/2003	-	Active	NO
3	U27106PN2005PTC020927	SARAS FINECAST PRIVATE LIMITED	Director	24/06/2005	24/06/2005	-	Active	NO
4	U65993MH1983PTC029277	NALINI NARAYAN INVESTMENT PRIVATE LIMITED	Director	30/09/2008	01/04/2008	-	Active	NO
5	U32109PN1988PTC048151	SHALIN ELECTROMECH PRIVATE LIMITED	Director	30/09/2008	01/04/2008	-	Active	NO
6	U29120PN2001PTC016295	NEERA PUMPS AND VALVES PRIVATE LIMITED	Director	12/09/2008	01/04/2008	-	Active	NO
7	U74999PN2001PTC016294	KISHOR ENCARE GLOBAL PRIVATE LIMITED	Managing director	01/01/2009	01/04/2008	-	Active	NO
8	U29100PN2008PTC132740	KISHOR METRO PUMPS PRIVATE LIMITED	Director	05/09/2008	05/09/2008	-	Active	NO
9	U74999PN2008PTC142918	ENCARE EARTH SOLUTIONS PRIVATE LIMITED	Director	11/09/2008	11/09/2008	-	Active	NO
10	U29100MH1997PTC111528	ENCARE ELECTROMECH PRIVATE LIMITED	Director	29/09/2009	25/03/2009	-	Active	NO

Name :

Mr. Sunil Babasaheb Sawant

Designation :

Director

Address :

Flat No.17, Jaltrang Apartment, Prabhat Road, Lane No.1, Opposite Tilak Tank, Pune – 411 004, Maharashtra, India

Date of Birth/Age :

12.01.1967

Date of Appointment :

28.09.2012

DIN No.:

05348054

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	U31909PN1965PTC013333	KISHOR PUMPS PRIVATE LIMITED	Director	28/09/2012	10/08/2012	-	Active	NO

Name :

Mr. Shirish Ajagaonkar Shantaram

Designation :

Director

Address :

Shree Niwas, Plot No.4, Sector No.30/32, PC NTDA Walhekar Wadi, Chinchwad, Pune – 411 033, Maharashtra, India

Date of Birth/Age :

25.10.1959

Date of Appointment :

30.09.2014

DIN No.:

03284863

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	U31909PN1965PTC013333	KISHOR PUMPS PRIVATE LIMITED	Director	30/09/2014	01/10/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Prasad
Designation :	Account Department
Name :	MRM Associates
Designation :	Company Secretaries
Address :	First Floor, Dnyan Sudha Apartments, 77, Vijayanagar Colony, 2147, Sadashiv Peth, Pune – 411 030, Maharashtra, India
Tele-fax No. :	91-20-24325075/ 24320368/ 24324288
E-Mail :	info@mrmcs.com
Website :	www.mrmcs.com

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Sudha Madhukar Madan jointly with Madhukar Yashwant Madan	42
Narayan Narsinh Desai (HUF)	786
Kishor Narayan Desai	7359
Ajayya Madhukar Madan jointly with Madhukar Yashwant Madan	10
Kamalakar Narsinh Desai jointly with Sudha Kamalakar Desai	90
Nalini Narayan Investment Private Limited, India	584
Kishor Narayan Desai (HUF)	106
Bhaskar Kashinath Walwalkar	24
Pradeep Kalyanchand Chordia	70
Usha Gajanan Desai jointly with Gajanan Vishnu Desai	16
Bhagyashee Kishor Desai	8
Kishor Narayan Desai jointly with Siddharth Kishor Desai	54
Mohan Krishnarao Desai jointly with Mohini Mohan Desai jointly with Namita Mohan Desai	28
Shreenivas Krishnarao Desai jointly with Malati Shreenivas Desai jointly with Madhuri Shreenivas Desai	28
Swati Vivek Stalekar jointly with Keshav Gurunath Shetye	30
Keshav Gurunath Shetye jointly with Umesh Keshav Shetye	51
Keshav Gurunath Shetye jointly with Rajan Keshav Shetye	81
Narayan Narsinh Desai jointly with Kishor Narayan Desai (Beneficial Holders being trustee for N.N. Desai Family Trust)	1
Vasudha Shaym Abhyankar	54
Siddharth Kishor Desai	300
Total	9722

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	6.00
Directors or relatives of directors	88.60
Other top fifty shareholders	5.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacture and sale of pumps.
Products/ Services :	· PUMPS BY APPLICATION o Chemical and Petrochemical o Heat Transfer o Power Generation o Water Supply o Seawater o Industrial Wastewater o Sewage Treatment · PUMPS BY INSTALLATION o Horizontal Pumps o Vertical Pumps o Submersible Pumps
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Gulf Country Dubai
Imports :	Not Available
Terms :
Selling :	L\C and Cheque (30 Days)
Purchasing :	L\C and Cheque (30 Days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

100 (Approximately)

Bankers :

Banker Name	The Saraswat Co-operative Bank Limited
Branch Address	2^nd Floor, Above F C Road Branch Ganeshwadi, Opposite Hotel Vaishali Shivaji Nagar, Pune – 411 004, 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)	Cash Credit = Rs. 60.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

State Bank of India

Facilities :

Secured Loans	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Term Loan (From The Saraswat Co-operative Bank Limited – against Premises)	3.378	0.000
Term Loan (From The Saraswat Co-operative Bank Limited – against Vehicles)	0.725	0.000
SHORT TERM BORROWINGS
Cash Credit from Bank (Against Hypothecation of stock and book debts)	55.412	61.300
Bills Discounted (Against Letter of Credit)	17.784	14.771
Over draft against Fixed Deposits (Pledge of Fixed Deposits of Shalin Electromech Private Limited)	0.000	2.518
Total	77.299	78.589

Banking Relations :	--
Auditors :
Name :	Kulkarni and Khanolkar Chartered Accountants
Address :	Bell Building, Sir Phirozshah Mehta Road, Fort, Mumbai – 400 001, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFK2921N
Memberships :	Not Available
Collaborators :	Not Available
Associate Entities :	· Shalin Electromech Private Limited · Business Facilities and Services · Kishor Encare Global Private Limited · Kishor Metro Pumps Private Limited · Saras Finecast Private Limited · Flowcare (India) Private Limited · Neera Pumps and Valves Private Limited · Saras Techparts Private Limited · Encare Electromech Private Limited · Nalini Narayan Investment Private Limited · Encare Earth Solutions Private Limited · N. N. Desai Family Trust

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs1000/- each	Rs.10.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9722	Equity Shares	Rs.1000/- each	Rs.9.722 million

FINANCIAL DATA

[all figures are in Rupees Million]

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	9.722	9.722	9.722
(b) Reserves & Surplus	188.749	183.394	166.280
(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)	198.471	193.116	176.002
(3) Non-Current Liabilities
(a) Long-term borrowings	58.432	50.293	56.624
(b) Deferred tax liabilities (Net)	5.566	5.656	7.120
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	1.872	2.605	0.140
Total Non-current Liabilities (3)	65.870	58.554	63.884
(4) Current Liabilities
(a) Short term borrowings	73.196	78.589	38.781
(b) Trade payables	156.388	214.643	182.664
(c) Other current liabilities	41.004	97.046	45.009
(d) Short-term provisions	38.862	34.853	35.987
Total Current Liabilities (4)	309.450	425.131	302.441
TOTAL	573.791	676.801	542.327
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	68.794	55.110	54.768
(ii) Intangible Assets	0.737	1.226	1.990
(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	0.405	0.425	0.425
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	79.917	60.951	64.578
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	149.853	117.712	121.761
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	58.286	5.627	15.841
(c) Trade receivables	329.022	531.057	385.881
(d) Cash and cash equivalents	8.386	8.037	12.147
(e) Short-term loans and advances	28.244	14.368	6.697
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	423.938	559.089	420.566
TOTAL	573.791	676.801	542.327

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	340.874	427.227	524.800
		Other Income	7.869	3.793	3.330
		TOTAL	348.743	431.020	528.130
Less	EXPENSES
		TOTAL	317.719	385.221	474.183
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		31.024	45.799	53.947
Less	INTEREST		13.997	10.811	8.701
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		17.027	34.988	45.246
Less/ Add	DEPRECIATION/ AMORTISATION		6.397	6.858	7.409
	PROFIT/ (LOSS) BEFORE TAX		10.630	28.130	37.837
Less	TAX		3.910	9.535	14.564
	PROFIT/ (LOSS) AFTER TAX		6.720	18.595	23.273
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		130.561	113.946	92.614
Add	EXCESS PROVISION FOR INCOME TAX		0.000	(0.124)	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	0.400	0.500	0.585
		Proposed Dividend (Rs.120 per share)	1.167	1.167	1.167
		Corporate Tax on Dividend	0.198	0.189	0.189
	Total		1.765	1.856	1.941
	BALANCE CARRIED TO THE B/S		135.516	130.561	113.946
	EARNINGS IN FOREIGN CURRENCY
		Export of goods calculated on F.O.B. basis	7.123	5.408	27.328
	TOTAL EARNINGS		7.123	5.408	27.328
	IMPORTS
		Raw Materials	1.853	4.215	4.859
	TOTAL IMPORTS		1.853	4.215	4.859
	Earnings/ (Loss) Per Share (Rs.)		691.00	1913.00	2394.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	0.000	0.248
Cash from operating activities	28.212	21.894	7.462

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.97	4.35	4.43
Operating Profit Margin (PBIDT/Sales)	(%)	9.10	10.72	10.28
Return on Total Assets (PBT/Total Assets}	(%)	1.85	4.16	6.98
Return on Investment (ROI) (PBT/Networth)		0.05	0.15	0.21
Debt Equity Ratio (Total Debt /Networth)		0.66	0.67	0.54
Current Ratio (Current Asset/Current Liability)		1.37	1.32	1.39

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	9.722	9.722	9.722
Reserves & Surplus	166.280	183.394	188.749
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	176.002	193.116	198.471
Long-term borrowings	56.624	50.293	58.432
Short term borrowings	38.781	78.589	73.196
Total borrowings	95.405	128.882	131.628
Debt/Equity ratio	0.542	0.667	0.663

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	524.800	427.227	340.874
		(18.592)	(20.212)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	524.800	427.227	340.874
Profit	23.273	18.595	6.720
	4.43%	4.35%	1.97%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loans repayable on Demand (Directors, Relatives of Directors and Shareholders)	51.769	47.733
Inter Corporate Deposits (Nalini Narayan Investment Private Limited, being related party)	2.560	2.560
Total	54.329	50.293

INDEX OF CHARGES

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10469952	26/12/2013	760,448.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	2ND FLOOR ABOVE F C ROAD BRANCH GANESHWADI, OPP HOTEL VAISHALI SHIVAJI NAGAR, PUNE, MAHARASHTRA - 411004, INDIA	B93421337
2	10399129	29/12/2012	7,200,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,  PLOT NO.12, MULA ROAD, SANGAMWADI, PUNE, MAHARASHTRA - 411003, INDIA	B66509969
3	10399310	29/12/2012	12,800,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,  PLOT NO.12, MULA ROAD, SANGAMWADI, PUNE, MAHARASHTRA - 411003, INDIA	B66510082
4	90092034	29/12/2012 *	110,000,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,  PLOT NO.12, MULA ROAD, SANGAMWADI, PUNE, MAHARASHTRA - 411003, INDIA	B66510876
5	90088568	09/01/2003	8,500,000.00	THE SARASWAT CO-OP. BANK LIMITED	PIMPRI BRANCH, PUNE, MAHARASHTRA - 411018, INDIA	-
6	80066083	29/12/2012 *	20,000,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,  PLOT NO.12, MULA ROAD, SANGAMWADI, PUNE, MAHARASHTRA - 411003, INDIA	B66658808
7	90089796	28/10/1995 *	15,000,000.00	STATE BANK OF INDIA	TILAK MARG BRANCH, PUNE, MAHARASHTRA, INDIA	-

* Date of charge modification

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Counter guarantees given by the Company to The Saraswat Co-Operative Bank Limited in terms of guarantees given by the Bank to third parties are -	32.541	35.021
Estimated amounts of contracts remaining to be executed on capital account (net of advances) are -	0.963	Nil

FIXED ASSETS

Tangible Assets

· Land – Freehold

· Land – Leasehold

· Factory Premises

· Furniture and Fixtures

· Electrical Installations

· Computers

· Office Equipments

· Vehicles

· Plant and Equipments

· Patterns

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 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.63.57
UK Pound	1	Rs.99.20
Euro	1	Rs.70.35

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	RAS
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--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	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		45

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.