MIRA INFORM REPORT

Report No. :	332381
Report Date :	15.07.2015

IDENTIFICATION DETAILS

Name :	PRIME GOLD INTERNATIONAL LIMITED (w.e.f.18.03.2011)
Formerly Known As :	PRIME GOLD INTERNATIONAL PRIVATE LIMITED (w.e.f. 23.12.2008) KALI METALS PRIVATE LIMITED
Registered Office :	5/2, Punjab Bagh Extension, Club Road, Delhi – 110015
Tel. No.:	91-11-47610000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.02.1997
Com. Reg. No.:	55-085127
Capital Investment / Paid-up Capital :	Rs. 211.807 Millions
CIN No.: [Company Identification No.]	U0112DL1997PLC085127
IEC No.:	0509034292
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCK3755F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Trader of TMT Bars.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile marked by low reserves and thin profitability margins of the company. However, trade relations are fair. Business is active. Payment are reported to be slow but correct. The company can be considered for business dealing with some caution.

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	ICRA
Rating	Fund Based Limits – Term Loan = BB
Rating Explanation	Inadequate credit quality and high credit risk.
Date	April 2014

Rating Agency Name	ICRA
Rating	Non Fund Based Limits – Letter of Credit
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	April 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) DEFAILTERS’ 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. Himanshu Goyal
Designation :	Company Secretary
Contact No.:	91-11-47610000
Date :	15.07.2015

LOCATIONS

Registered Office :	5/2, Punjab Bagh Extension, Club Road, Delhi – 110015, India
Tel. No.:	91-11-47610000
Fax No.:	91-11-25226509
E-Mail :	cavipinbansal82@gmail.com
Website :	http://www.primegoldgroup.com
Area :	Owned
Factory :	Uliveeranpalli Village Belagondapalli, Hosur -635114 , Tamilnadu, India
Tel No.:	91-11-47612222

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Pradeep Aggarwal

Designation :

Director

Address :

5/2, Punjabi Bagh, Extension, Club Road, New Delhi – 110026, India

Date of Birth/Age :

18.10.1960

Date of Appointment :

30.09.2005

DIN No.:

00005977

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	L27101DL1994PLC134282	KAMDHENU ISPAT LIMITED	Whole-time director	12/09/1994	12/09/1994	14/04/2007	Active	NO
2	U24222DL2005PLC204879	Kamdhenu Paint Industries Limited	Director	30/09/2005	30/09/2005	31/07/2007	Active	NO
3	U01122DL1997PLC085127	PRIME GOLD INTERNATIONAL LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
4	U15490DL1998PLC093948	Prime Gold Infra Steel Limited	Managing director	01/10/2012	30/09/2005	-	Active	NO
5	U27106DL2006PLC146601	KAMDHENU CONCAST LIMITED	Director	21/02/2006	21/02/2006	31/07/2007	Active	NO
6	U26959JK2000PTC002070	JAI DURGA CEMENT PRIVATE LIMITED	Director	10/05/2006	10/05/2006	-	Active	NO
7	U70102DL2006PTC149577	A P S BUILDCON PRIVATE LIMITED	Director	09/06/2006	09/06/2006	-	Active	NO
8	U74920DL1997PLC145037	RAGHUVEER METAL INDUSTRIES LIMITED tfr. from rajasthan to delhi	Director	30/09/2006	30/09/2006	05/11/2009	Active	NO
9	U74900DL2007PLC162582	KAMDHENU CEMENT LIMITED	Director	01/10/2009	25/04/2007	-	Active	NO
10	U65999TN1999PTC041948	R.V.MERCANTILE PRIVATE LIMITED	Director	20/09/2007	27/04/2007	-	Active	NO
11	U27209DL2008PLC177691	PRIME GOLD STEEL LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
12	U27100DL2008PLC180557	PRIME GOLD INDIA LIMITED	Director	07/07/2008	07/07/2008	-	Active	NO
13	U15139UP2008PTC035727	PRIME GOLD UDYOG PRIVATE LIMITED	Director	22/07/2008	22/07/2008	-	Active	NO
14	U51504DL2008PTC181628	SAJHEDARI MARKETING PRIVATE LIMITED	Director	01/08/2008	01/08/2008	28/12/2012	Active	NO
15	U28113DL2012PLC245537	PRIME GOLD -SAIL JVC LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO
16	U74120WB2010PTC149759	HALLMARK FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	16/12/2013	16/12/2013	-	Active	NO
17	U51909WB2009PTC133022	SIDHIDAATRI SUPPLIERS PRIVATE LIMITED	Director	16/12/2013	16/12/2013	-	Active	NO
18	U40108TZ2014PLC020245	Prime Gold Energy Limited	Director	12/02/2014	12/02/2014	-	Active	NO

Name :

Mr. Achin Aggarwal

Designation :

Managing Director

Address :

5/2, Punjabi Bagh, Extension, Club Road, New Delhi – 110026, India

Date of Birth/Age :

14.12.2007

Date of Appointment :

20.08.2013

DIN No.:

00692963

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	U15490DL1998PLC093948	Prime Gold Infra Steel Limited	Director	30/09/2006	30/09/2006	22/08/2013	Active	NO
2	U74900DL2007PLC162582	KAMDHENU CEMENT LIMITED	Director	25/04/2007	25/04/2007	-	Active	NO
3	U01122DL1997PLC085127	PRIME GOLD INTERNATIONAL LIMITED	Managing director	20/08/2013	14/12/2007	-	Active	NO
4	U27209DL2008PLC177691	PRIME GOLD STEEL LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
5	U27100DL2008PLC180557	PRIME GOLD INDIA LIMITED	Director	07/07/2008	07/07/2008	-	Active	NO
6	U74920DL1997PLC145037	RAGHUVEER METAL INDUSTRIES LIMITED tfr. from rajasthan to delhi	Director	01/06/2009	01/06/2009	29/09/2011	Active	NO
7	U26959JK2000PTC002070	JAI DURGA CEMENT PRIVATE LIMITED	Additional director	19/04/2011	19/04/2011	02/02/2012	Active	NO
8	U40108TZ2014PLC020245	Prime Gold Energy Limited	Director	12/02/2014	12/02/2014	-	Active	NO

Name :

Ms. Geeta Agarwal

Designation :

Director

Address :

5/2, Punjabi Bagh, Extension, Club Road, New Delhi – 110026, India

Date of Birth/Age :

12.07.1964

Qualification :

29.09.2007

DIN No.:

01197290

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	U74920DL1997PLC145037	RAGHUVEER METAL INDUSTRIES LIMITED tfr. from rajasthan to delhi	Whole-time director	22/02/2008	30/09/2004	05/11/2009	Active	NO
2	U15490DL1998PLC093948	Prime Gold Infra Steel Limited	Director	30/09/2006	30/09/2006	-	Active	NO
3	U26959JK2000PTC002070	JAI DURGA CEMENT PRIVATE LIMITED	Director	30/09/2006	30/09/2006	-	Active	NO
4	U01122DL1997PLC085127	PRIME GOLD INTERNATIONAL LIMITED	Director	29/09/2007	17/03/2007	-	Active	NO
5	U74900DL2007PLC162582	KAMDHENU CEMENT LIMITED	Director	25/04/2007	25/04/2007	-	Active	NO
6	U65999TN1999PTC041948	R.V.MERCANTILE PRIVATE LIMITED	Director	20/09/2007	27/04/2007	-	Active	NO
7	U70102DL2006PTC149577	A P S BUILDCON PRIVATE LIMITED	Director	29/09/2007	02/07/2007	-	Active	NO
8	U27209DL2008PLC177691	PRIME GOLD STEEL LIMITED	Director	06/05/2008	06/05/2008	-	Active	NO
9	U27100DL2008PLC180557	PRIME GOLD INDIA LIMITED	Director	07/07/2008	07/07/2008	-	Active	NO
10	U15139UP2008PTC035727	PRIME GOLD UDYOG PRIVATE LIMITED	Director	22/07/2008	22/07/2008	-	Active	NO
11	U74120WB2010PTC149759	HALLMARK FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	16/12/2013	16/12/2013	-	Active	NO
12	U51909WB2009PTC133022	SIDHIDAATRI SUPPLIERS PRIVATE LIMITED	Director	16/12/2013	16/12/2013	-	Active	NO
13	U40108TZ2014PLC020245	Prime Gold Energy Limited	Director	12/02/2014	12/02/2014	-	Active	NO
14	U28113DL2012PLC245537	PRIME GOLD -SAIL JVC LIMITED	Additional director	19/06/2014	19/06/2014	-	Active	NO

Name :

Mr. Pulkit Agarwal

Designation :

Director

Address :

5/2, Punjabi Bagh, Extension, Club Road, New Delhi – 110026, India

Date of Birth/Age :

19.09.1990

Date of Appointment :

30.09.2013

DIN No.:

03581523

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	U26959JK2000PTC002070	JAI DURGA CEMENT PRIVATE LIMITED	Director	29/09/2012	30/11/2011	-	Active	NO
2	U74900DL2007PLC162582	KAMDHENU CEMENT LIMITED	Director	29/09/2012	02/01/2012	-	Active	NO
3	U01122DL1997PLC085127	PRIME GOLD INTERNATIONAL LIMITED	Director	30/09/2013	01/10/2012	-	Active	NO
4	U28113DL2012PLC245537	PRIME GOLD -SAIL JVC LIMITED	Director	01/12/2012	01/12/2012	19/06/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Himanshu Goyal
Designation :	Secretary
Address :	G-54/2, Ground Floor, Dilshad Colony, New Delhi – 110095, India
Date of Birth/Age :	10.02.1989
Date of Appointment :	05.09.2014

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Mr. Singh Tarsem	490000
M/s. Dume Foortwears Private Limited	190000
M/s. Instant Travels and Tours Private Limited	75000
M/s. Arts Elastics Private Limited	120000
M/s. ASG Finlease and Holding Private Limited	50000
Ms. Shashi Jain	80000
Mr. Pradeep Aggarwal	75000
Ms. Geeta Aggarwal	5000
M/s. R. V. Mercantile Private Limited	3131638
M/s. Prime Gold Udyog Private Limited	3453400
Mr. Achin Aggarwal	1116285
M/s. Kamdhenu Cement Limited	250000
M/s. Prime Gold India Limited	694866
M/s. Prime Gold Steel Limited	350000
Pulkit Agarwal	167880
M/s. Sidhhidaatri Suppliers Private Limited	4079951
Mohit Goel	364285
Rohit Goel	364285
Subhash Chand Goel	421428
Total	21180712

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	66.59
Directors or relatives of Directors	25.64
Other top fifty shareholders	7.77
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of TMT Bars, Steel and Cement.
Products :	Prime Gold Paints Cement Paints Prime Gold Exterior Prime Gold Interior Emulsion Prime Gold Enamel Paint
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Not Divulged

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 :

End Users

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 :

50 (Approximately)

Bankers :

Banker Name	State Bank of Bikaner and Jaipur
Branch Address	Jawala Heri Market, Jawala Heri Market, Paschim Vihar, New Delhi – 110063, 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 LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Indian rupee term loan from banks	1.672	1.265
Indian rupee term loans from Plant and Machinery	93.458	114.527
Indian rupee term loans from others	24.971	31.792
SHORT TERM BORROWINGS
Working capital loans	245.889	164.764
Total	365.990	312.348

Auditors :
Name :	DSP and Associates Chartered Accountants
Memberships :	--
Collaborators :	--
Related Party :	Prime Gold Infra Steel Limited (CIN No.: U15490DL1998PLC093948) Prime Gold India Limited (CIN No.: U27100DL2008PLC180557) Kamdhenu Cement Limited (CIN No.: U74900DL2007PLC162582) Prime Gold Sale

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs. 10/- each	Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
21180712	Equity Shares	Rs. 10/- each	Rs. 211.807 Millions

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	211.807	174.664	124.939
(b) Reserves & Surplus	110.186	74.381	45.976
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	10.800	25.800	0.000
Total Shareholders’ Funds (1) + (2)	332.793	274.845	170.915
(3) Non-Current Liabilities
(a) long-term borrowings	120.101	148.677	16.299
(b) Deferred tax liabilities (Net)	35.580	24.438	15.703
(c) Other long term liabilities	48.664	0.000	1.001
(d) long-term provisions	0.306	0.277	0.191
Total Non-current Liabilities (3)	204.651	173.392	33.194
(4) Current Liabilities
(a) Short term borrowings	245.889	164.804	135.806
(b) Trade payables	339.584	222.059	210.976
(c) Other current liabilities	119.152	141.766	64.340
(d) Short-term provisions	5.975	7.795	7.622
Total Current Liabilities (4)	710.600	536.424	418.744
TOTAL	1248.044	984.661	622.853
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	450.092	391.716	194.410
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	7.604	5.349
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	9.905	1.549	0.161
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	69.168	67.759	38.907
(e) Other Non-current assets	1.601	1.601	0.111
Total Non-Current Assets	530.766	470.229	238.938
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	264.624	279.630	263.287
(c) Trade receivables	287.661	101.992	92.577
(d) Cash and cash equivalents	87.079	37.487	14.095
(e) Short-term loans and advances	77.914	95.323	13.956
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	717.278	514.432	383.915
TOTAL	1248.044	984.661	622.853

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3045.259	2174.196	1888.609
		Other Income	37.192	8.107	3.328
		TOTAL (A)	3082.451	2182.303	1891.937
Less	EXPENSES
		Cost of Materials Consumed	2578.544	1933.544	1468.535
		Purchases of Stock-in-Trade	23.156	0.000	177.931
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	24.587	(62.578)	(16.513)
		Employees benefits expense	12.149	6.909	6.517
		Other expenses	322.022	228.245	185.094
		TOTAL (B)	2960.458	2106.120	1821.564
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		121.993	76.183	70.373
Less	FINANCIAL EXPENSES (D)		61.250	29.347	26.510
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		60.743	46.836	43.863
Less/ Add	DEPRECIATION/ AMORTISATION (F)		37.983	23.407	21.483
Less	EXCEPTIONAL ITEMS BEFORE TAX		0.000	0.000	3.712
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		22.760	23.429	18.668
Less	TAX (H)		15.353	13.423	7.112
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		7.407	10.006	11.556
	Earnings / (Loss) Per Share (Rs.)		0.35	0.47	0.55

Expected Sales (2015-16): Rs. 3500.000 Million

The above information has been parted by Mr. Himanshu Goyal (Company Secretary)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	0.24	0.46	0.61
Operating Profit Margin (PBDIT/Sales)	(%)	3.96	3.50	3.73
Return on Total Assets (PBT/Total Assets}	(%)	1.84	2.40	3.02
Return on Investment (ROI) (PBT/Networth)		0.07	0.09	0.11
Debt Equity Ratio (Total Debt/Networth)		1.10	1.14	0.89
Current Ratio (Current Asset/Current Liability)		1.01	0.96	0.92

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	124.939	174.664	211.807
Reserves & Surplus	45.976	74.381	110.186
Share Application money pending allotment	0.000	25.800	10.800
Net worth	170.915	274.845	332.793
long-term borrowings	16.299	148.677	120.101
Short term borrowings	135.806	164.804	245.889
Total borrowings	152.105	313.481	365.990
Debt/Equity ratio	0.890	1.141	1.100

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	1888.609	2174.196	3045.259
		15.122	40.064

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	1888.609	2174.196	3045.259
Profit	11.556	10.006	7.407
	0.61%	0.46%	0.24%

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)	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 three years	Yes
27	Reasons for variation <> 20%	----
28	Estimation for coming financial year	Yes
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10353109	10/04/2012	20,000,000.00	State Bank of Bikaner & Jaipur	Jawala Heri Market, Paschim vihar, New Delhi, Delhi - 110063, INDIA	B38745022
2	90040009	19/05/2014 *	479,800,000.00	State Bank of Bikaner & Jaipur	Jawala Heri Market,, Paschim Vihar,, New Delhi, Delhi - 110063, INDIA	C07936024

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Term loan from NBFC	0.000	1.093
SHORT TERM BORROWINGS
Others	0.000	0.040
Total	0.000	1.133

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Furniture and Fixture
• Vehicles
• Office Equipments
• Computer

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. 63.50
UK Pound	1	Rs. 98.20
Euro	1	Rs. 69.73

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.