MIRA INFORM REPORT

Report No. :	330572
Report Date :	04.07.2015

IDENTIFICATION DETAILS

Name :	PREM CABLES PRIVATE LIMITED

Registered Office :	Ground Floor, Office No.6, Neptune Tower, Ashram Road, Ahmedabad – 380009, Gujarat
Tel. No.:	91-2142-222405

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	18.09.1964

Com. Reg. No.:	17-057316

Capital Investment / Paid-up Capital :	Rs.9.064 Million

CIN No.: [Company Identification No.]	U31300GJ1964PTC057316

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAACP6660N

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturing of electric cable, aluminium conductor.

No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 1500000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is an established company having fine track record. Rating takes into consideration working capital intensive operations, volatility in raw material prices and its modest operating profitability margins on the back of intensified competition in the industry. These rating weaknesses are partially offset by strong net worth base, vast experience of promoters, and its established relationships with the b customers. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment. In the view long track record of operations, the subject can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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	Long term rating: A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	08.04.2015

Rating Agency Name	CARE
Rating	Short term rating: A1
Rating Explanation	Very strong degree of safety and very lowest credit risk.
Date	08.04.2015

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

Name :	Mr. Aniket Shah
Designation :	Director
Contact No.:	91-9983300000
Date :	03.07.2015

LOCATIONS

Registered Office :	Ground Floor, Office No.6, Neptune Tower, Ashram Road, Ahmedabad – 380009, Gujrat, India
Tel. No.:	91-2142-222405/227244
Fax No.:	Not Available
E-Mail :	Mmg1659@gmail.com

Head Office / Factory :	Pipalia Kalan District, Pali – Malwar, Pali – 306307, Rajasthan, India
Tel. No.:	91-2937-220202/2306307/287244

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Pankaj Parasraj Shah

Designation :

Director

Address :

Prem Nagar, C/O PG Foils Limited, Pipalia Kalan, Pali – Marwar, Pali – 36307, Rajasthan, India

Date of Birth/Age :

15.07.1956

Date of Appointment :

25.08.1989

DIN No.:

00160558

PAN No.:

AKQPS1510H

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	U27203RJ1971PTC001359	PIPALIA ENGINEERING WORKS PVT LTD	Director	01-10-78	01-10-78	-	Active	NO
2	L27203GJ1979PLC008050	P G FOILS LIMITED	Managing director	17-01-14	07-11-79	-	Active	NO
3	U70101RJ1967PTC001221	PREM NAGAR INDUSTRIAL ESTATE COMPANY PRIVATE LIMITED	Director	11-03-82	11-03-82	-	Active	NO
4	U51214RJ1969PTC001272	PREM KRISHI PVT LTD	Director	05-04-82	05-04-82	-	Active	NO
5	U26943RJ1970PTC001307	PARAS PVT LTD	Director	06-09-85	06-09-85	-	Active	NO
6	U27203TN1989PTC017162	MADRAS ALUCON PRIVATE LIMITED	Director	04-04-89	04-04-89	-	Active	NO
7	U27203TN1989PTC017163	PREM ALUCON PRIVATE LIMITED	Director	04-04-89	04-04-89	-	Active	NO
8	U31300GJ1964PTC057316	PREM CABLES PVT LTD	Director	25-08-89	25-08-89	-	Active	NO
9	U27203GJ1992PLC018523	PREM FOILS LIMITED	Director	03-11-92	03-11-92	-	Active	NO
10	U51109AS1994PTC004077	JINENDRA COMMERCIALS COMPANY PVT LTD	Director	04-02-94	04-02-94	-	Active	NO
11	U60220TN1985PTC012463	P.G.WARE HOUSING COMPANY PRIVATE LIMITED	Director	01-08-06	01-08-06	-	Active	NO
12	U70101WB2004PTC100350	BIKANER BUILDERS PRIVATE LIMITED	Director	28-09-07	09-07-07	-	Active	NO

Name :

Mr. Abhay Parasraj Shah

Designation :

Director

Address :

Prem Nagar , C/O PG Foils Limited, Pipalia Kalan, Pali – Marwar, Pali – 36307, Rajasthan, India

Date of Birth/Age :

17.02.1967

Date of Appointment :

25.1.1985

DIN No.:

00160590

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	U31300GJ1964PTC057316	PREM CABLES PVT LTD	Director	25-01-85	25-01-85	-	Active	NO
2	U70101RJ1967PTC001221	PREM NAGAR INDUSTRIAL ESTATE COMPANY PRIVATE LIMITED	Director	18-08-85	18-08-85	-	Active	NO
3	U27203RJ1971PTC001359	PIPALIA ENGINEERING WORKS PVT LTD	Director	24-10-85	24-10-85	-	Active	NO
4	U26943RJ1970PTC001307	PARAS PVT LTD	Director	25-10-85	25-10-85	-	Active	NO
5	U51214RJ1969PTC001272	PREM KRISHI PVT LTD	Director	25-10-85	25-10-85	-	Active	NO
6	U60220TN1985PTC012463	P.G.WARE HOUSING COMPANY PRIVATE LIMITED	Director	10-12-85	10-12-85	-	Active	NO
7	L27203GJ1979PLC008050	P G FOILS LIMITED	Whole-time director	30-04-11	28-08-92	-	Active	NO
8	U27203GJ1992PLC018523	PREM FOILS LIMITED	Director	03-11-92	03-11-92	-	Active	NO
9	U51109AS1994PTC004077	JINENDRA COMMERCIALS COMPANY PVT LTD	Director	04-02-94	04-02-94	-	Active	NO
10	U27203TN1989PTC017162	MADRAS ALUCON PRIVATE LIMITED	Director	01-08-06	01-08-06	-	Active	NO
11	U27203TN1989PTC017163	PREM ALUCON PRIVATE LIMITED	Director	01-08-06	01-08-06	-	Active	NO
12	U70101WB2004PTC100350	BIKANER BUILDERS PRIVATE LIMITED	Director	28-09-07	09-07-07	-	Active	NO
13	U31300GJ1989PTC013172	PIPALIA CABLES AND WIRES PRIVATE LIMITED	Director	15-09-10	15-09-10	27-02-15	Active	NO

Name :

Mr. Sahil Pankaj Shah

Designation :

Director

Address :

Pipalia Kalan, Pali - 306307, Rajasthan, India

Date of Birth/Age :

18.03.1985

Date of Appointment :

18.03.2006

DIN No.:

01603118

PAN No.:

AXWPS5746C

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	U26943RJ1970PTC001307	PARAS PVT LTD	Director	18-03-06	18-03-06	-	Active	NO
2	U27203RJ1971PTC001359	PIPALIA ENGINEERING WORKS PVT LTD	Director	18-03-06	18-03-06	-	Active	NO
3	U31300GJ1964PTC057316	PREM CABLES PVT LTD	Director	18-03-06	18-03-06	-	Active	NO
4	U51214RJ1969PTC001272	PREM KRISHI PVT LTD	Director	18-03-06	18-03-06	-	Active	NO
5	U70101RJ1967PTC001221	PREM NAGAR INDUSTRIAL ESTATE COMPANY PRIVATE LIMITED	Director	18-03-06	18-03-06	-	Active	NO
6	L27203GJ1979PLC008050	P G FOILS LIMITED	Director	28-09-07	11-08-07	-	Active	NO
7	U70101WB2004PTC100350	BIKANER BUILDERS PRIVATE LIMITED	Director	30-09-09	29-01-09	-	Active	NO
8	U74999RJ1987PTC004006	FOILS INDIA LAMINATES PVT. LTD	Director	21-09-11	27-07-11	27-02-15	Active	NO
9	U26943RJ1990PTC005555	TYAGI CEMENTS PVT.LTD.	Director	28-09-12	17-08-11	-	Active	NO
10	U27203GJ1992PLC018523	PREM FOILS LIMITED	Director	30-09-11	06-09-11	-	Active	NO

Name :

Mr. Aniket Shah

Designation :

Director

Address :

Vpo. Pipalia Kalan, Pali - 306307, Rajasthan, India

Date of Appointment :

05.11.2013

DIN No.:

06723592

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

SHAREHOLDING DETAIL FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	32.58
Bodies corporate	47.50
Directors or relatives of Directors	19.42
Other top fifty shareholders	0.50
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of electric cable, aluminium conductor.

Products :	Electric Cable Aluminium Conductor

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Cash and Credit (30,60,90 Days)

Purchasing :	Cash and Credit (30,60,90 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 :

End Users

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 :

Barclys Bank Plc, 801/808, Ceejay House, Shiv Sgar Estate, Dr. A Beasnat Road, Worli, Mumbai - 400018, Maharashtra, India

Banker Name	IDBI Bank Limited
Branch Address	IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, 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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loans from banks	12.000	60.000
SHORT TERM BORROWING
Working capital loans from banks	361.298	377.555
Total	373.298	437.555

Banking Relations :

Auditors :
Name :	Ravi Dev and Associates Chartered Accountant
Address :	43, Ghosi Colony, Mandia Road, Pali Marwar, Pali – 36307, Rajasthan, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAFFR9887H

Memberships :	--

Collaborators :	--

Related parties where common control exists:-:	PG Foils Limited, India [L27203GJ1979PLC008050] Foils India Laminates Private Limited Miracle Carriers and Trading Company Pipalia Engineering Works Private Limited PG Conductors Prem Nagar Industrial Estate Private Limited Prem Krishi Private Limited Paras Raj Bohra Memorial Trust, Pipalia Cables and Wires Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

15000	Equity Shares	Rs.1000/- each	Rs. 15.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

9815	Equity Shares	Rs.1000/- each	Rs. 9.815 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	9.064	8.313	8.313
(b) Reserves & Surplus	532.259	493.986	378.843
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.824	1.575	1.575
Total Shareholders’ Funds (1) + (2)	542.147	503.874	388.731

(3) Non-Current Liabilities
(a) long-term borrowings	12.000	60.048	90.048
(b) Deferred tax liabilities (Net)	23.609	30.718	37.487
(c) Other long term liabilities	847.415	565.611	489.665
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	883.024	656.377	617.200

(4) Current Liabilities
(a) Short term borrowings	361.298	377.555	48.562
(b) Trade payables	23.519	87.002	149.862
(c) Other current liabilities	68.589	86.024	56.355
(d) Short-term provisions	50.934	20.746	13.743
Total Current Liabilities (4)	504.340	571.327	268.522

TOTAL	1929.511	1731.578	1274.453

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	94.217	123.938	165.297
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	9.658	2.990	0.991
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	70.010	100.000	100.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	12.908	10.566	15.635
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	186.793	237.494	281.923

(2) Current assets
(a) Current investments	46.078	58.343	39.045
(b) Inventories	237.109	198.041	175.648
(c) Trade receivables	384.060	473.871	454.854
(d) Cash and cash equivalents	638.590	427.499	225.157
(e) Short-term loans and advances	433.469	331.880	90.101
(f) Other current assets	3.412	4.450	7.725
Total Current Assets	1742.718	1494.084	992.530

TOTAL	1929.511	1731.578	1274.453

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2574.349	2945.901	3455.987
	Other Income
	TOTAL (A)	2574.349	2945.901	3455.987

Less	EXPENSES
	TOTAL (B)	2443.406	2752.032	3262.474

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	130.943	193.869	193.513

Less	FINANCIAL EXPENSES (D)	17.380	38.977	61.108

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	113.563	154.892	132.405

Less/ Add	DEPRECIATION/ AMORTISATION (F)	30.382	41.528	53.696

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	83.181	113.364	78.709

Less	TAX (H)	58.297	(1.778_	14.396

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	24.884	115.142	64.313

	Earnings / (Loss) Per Share (Rs.)	2535.30	NA	NA

Particulars

31.03.2015

Sales Turnover (Approximately)

2800.000

The above information has been parted by Mr. Aniket Shah

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

30.000

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Return on Total Assets (PBT/Total Assets}	(%)	4.50	6.96	6.71

Return on Investment (ROI) (PBT/Networth)		0.15	0.22	0.20

Debt Equity Ratio (Total Debt /Networth)		0.74	0.93	0.43

Current Ratio (Current Asset/Current Liability)		3.46	2.62	3.70

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	8.313	8.313	9.064
Reserves & Surplus	378.843	493.986	532.259
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	1.575	1.575	0.824
Net worth	388.731	503.874	542.147

long-term borrowings	90.048	60.048	12.000
Short term borrowings	48.562	377.555	361.298
Current maturities of long-term debts	30.000	30.000	30.000
Total borrowings	168.610	467.603	403.298
Debt/Equity ratio	0.434	0.928	0.744

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)
Total Income	3455.987	2945.901	2574.349
		-14.759	-12.613

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	3455.987	2945.901	2574.349
Profit	64.313	115.142	24.884
	1.86%	3.91%	0.97%

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	Yes
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)	No
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 fy 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	Yes
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

NOTE: Registered address of the company has been shifted from Pipalia Kalan District, Pali – Malwar, Pali – 306307, Rajasthan, India to the present address address w.e.f. 01.04.2009

REVIEW OF OPERATIONS:

The gross revenue of the Company has been decreased by 12.61%. The company has earned profit before tax of Rs. 83.180 Million, as compared to Rs. 113.364 Million earned during the previous year. The management of the company is hopeful to do better in future.

UNSECURED LOAN

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWING
Other loans and advances	0.000	0.048
Total	0.000	0.048

INDEX OF CHARGES

S.no.	Charge id	Date of charge creation/modification	Charge amount secured	Charge holder	Address	Service request number (srn)
1	10250781	14/02/2011 *	120,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA RASHTRA - 400005, INDIA	B09697442
2	80002355	14/02/2011 *	650,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA RASHTRA - 400005, INDIA	B09697418

* Date of charge modification

FIXED ASSETS

Tangible assets

Land
Buildings
Plant and equipment
Furniture and fixtures
Vehicles
Office equipment
Computer equipments
Other 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.63.40
UK Pound	1	Rs.98.94
Euro	1	Rs.70.33

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	SAN

Report Prepared by :	KVT

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	4
--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	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		51

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	--

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

MIRA INFORM REPORT

INDEX OF CHARGES

Unit