MIRA INFORM REPORT

Report No. :	333511
Report Date :	29.07.2015

IDENTIFICATION DETAILS

Name :	INDRAYANI FERROCAST PRIVATE LIMITED
Registered Office :	Gat No.225, Alandi Markal Road, Village Dhanore, Pune – 412105, Maharashtra
Tel. No.:	91-2135-668926
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.05.1995
Com. Reg. No.:	11-088354
Capital Investment / Paid-up Capital :	Rs. 4.545 Million
CIN No.: [Company Identification No.]	U27320MH1995PTC088354
IEC No.:	3101006554
TAN No.: [Tax Deduction & Collection Account No.]	PNEI00834B
PAN No.: [Permanent Account No.]	AAACI8271N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Manufacturing and Importing of M.S. Billets and H.C. Billets.
No. of Employees :	350 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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 incorporated during the year 1995. It has a moderate track record. For the financial year 2014, the company possess average operational activity marked by huge losses incurred during the year. Whereas, company has decent sales turnover achieved. Further, there is a dip in company’s net worth position. It has moderate financial risk profile. However, trade relations are reported as fair. Business is active. Payments terms are slow but correct. In view of huge accumulated losses incurred, the company can be considered for business dealings with some cautions.

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	CRISIL
Rating	Long Term Bank loan Facilities = BB+
Rating Explanation	Inadequate credit quality and high credit risk.
Date	12.12.2014

Rating Agency Name	CRISIL
Rating	Short term bank Facilities = A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	12.12.2014

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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Sadashiv Patil
Designation :	Accounts Department
Contact No.:	91-20-66294308
Date :	25.07.2015

LOCATIONS

Registered Office/ Factory :	Gat No. 225, Alandi Markal Road, Village Dhanore, Pune – 412105, Maharashtra, India
Tel. No.:	91-2135-668926
Mobile No.:	91-9922675555 (Mr. Sachin Oswal)
Fax No.:	91-2135-668950
E-Mail :	santgyaneshwar@rediffmail.com
Area :	10000 Sq. Ft.
Location :	Owned
Branch/ Admin Office :	Kohinoor Estate, Building No. SC – 1, Office No. 3 and 4, 12 Mulla Road, Wakdewadi, Pune, Maharashtra, India
Tel. No.:	91-20-66294306 / 66294325

DIRECTORS

AS ON: 30.09.2014

Name :

Mr. Premprakash Lacchiram Goyal

Designation :

Whole Time Director

Address :

S. No. 13, House No.1+2+3+4, Kohinoor Residency, 3 Phase Planet Near Spicer College Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

10.11.1955

Date of Appointment :

01.10.2013

Voter ID No.:

WZS7145204

DIN No.:

00389633

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	U28910MH1995PTC089177	SANT GYANESHWAR STEELS PRIVATE LIMITED	Whole-time director	01/10/2013	05/06/1995	-	Active	NO
2	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	20/06/1995	-	Active	NO
3	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	29/07/2001	-	Active	NO
4	U27100PN2010PTC135413	SAFAL ISPAT INDIA PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO

Name :

Mr. Vinodkumar Vedprakash Goyal

Designation :

Whole Time Director

Address :

S. No. 13, House No.1+2+3+4, P. No. 13, Kohinoor Residency 1, 3 Phase Planet Near Spicer College Aundh, Pune-411007, Maharashtra, India

Date of Birth/Age :

25.12.1957

Qualification :

Graduate

Date of Appointment :

01.10.2013

Voter ID No.:

FGDI630813

DIN No.:

01604780

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	U28910MH1995PTC089177	SANT GYANESHWAR STEELS PRIVATE LIMITED	Whole-time director	01/10/2013	05/06/1995	-	Active	NO
2	U27106GA1994PTC001582	SHIRDI STEEL RE-ROLLERS PRIVATE LIMITED	Whole-time director	01/10/2013	22/09/1997	-	Active	NO
3	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	29/07/2001	-	Active	NO
4	U27106PN1984PTC033322	AJINKYA ELECTROMELT PRIVATE LIMITED	Additional director	01/04/2008	01/04/2008	08/09/2008	Active	NO
5	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
6	U14106MH1997PTC110653	C'CURE BUILDING PRODUCTS PRIVATE LIMITED	Director	03/12/2009	03/12/2009	-	Active	NO
7	U27100PN2010PTC135413	SAFAL ISPAT INDIA PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO

Name :

Mr. Ashok Sohanraj Oswal

Designation :

Whole Time Director

Address :

586/A, Flat No. 1 DCYFL-7, Girija Nayak Society, Gultekadi, Pune-411037, Maharashtra, India

Date of Birth/Age :

26.12.1963

Qualification :

Graduate

Date of Appointment :

01.10.2013

Voter ID No.:

ZBR7179153

DIN No.:

01538046

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	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	02/06/2003	02/06/2003	01/04/2008	Active	NO
2	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Ashwini Kumar Ram Kumar Poddar

Designation :

Whole Time Director

Address :

130, Sindh Housing Society Road No.1, Aundh, Pune-411006, Maharashtra, India

Date of Birth/Age :

12.09.1960

Date of Appointment :

01.10.2013

DIN No.:

01447110

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	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	02/06/2003	-	Active	NO
2	U27106PN1984PTC033322	AJINKYA ELECTROMELT PRIVATE LIMITED	Managing director	01/06/2004	01/06/2004	-	Active	NO
3	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
4	U14106MH1997PTC110653	C'CURE BUILDING PRODUCTS PRIVATE LIMITED	Director	03/12/2009	03/12/2009	-	Active	NO
5	U27100PN2010PTC135413	SAFAL ISPAT INDIA PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO
6	U74210PN2007PTC139629	PUSHPAK INFRACON PRIVATE LIMITED	Director	28/09/2011	21/01/2011	-	Active	NO

Name :

Mr. Sachin Deep Chand Oswal

Designation :

Whole Time Director

Address :

586/A, Flat No. 1 DCYFL-7, Girija Nayak Society, Gultekadi, Pune-411037, Maharashtra, India

Date of Birth/Age :

11.02.1981

Qualification :

MBA

Date of Appointment :

01.10.2013

Voter ID No.:

GWT1052471

DIN No.:

01550047

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	U27106GA1994PTC001582	SHIRDI STEEL RE-ROLLERS PRIVATE LIMITED	Director	01/04/2002	01/04/2002	01/04/2008	Active	NO
2	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Aditya Arun Kumar Poddar

Designation :

Whole Time Director

Address :

130, Sindh Housing Society Road No.1, Aundh, Pune-411006, Maharashtra, India

Date of Birth/Age :

17.12.1981

Date of Appointment :

01.10.2013

DIN No.:

01725241

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	U27106PN1984PTC033322	AJINKYA ELECTROMELT PRIVATE LIMITED	Whole-time director	20/08/2007	01/04/2000	-	Active	NO
2	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
3	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Mayank Vinod Goyal

Designation :

Director

Address :

S. No. 13, House No.1+2+3+4, P. No. 13, Kohinoor Residency 1, 3 Phase Planet Near Spicer College Aundh, Pune-411007, Maharashtra, India

Date of Birth/Age :

26.09.1984

Date of Appointment :

01.10.2013

Voter ID No.:

WZS6181945

DIN No.:

02061353

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	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
2	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Rahul Prem Prakash Goyal

Designation :

Whole Time Director

Address :

30, Akshay Villa, Ashiyana Park S. No. 255/1, Aundh, Pune, 411007, Maharashtra, India

Date of Appointment :

01.10.2013

DIN No.:

02250537

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	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sadashiv Patil
Designation :	Accounts Department
Name :	Arun Madhukar Deshpande
Designation :	Company Secretary

MAJOR SHAREHOLDERS

AS ON: 30.09.2014

Names of Shareholders	No. of Shares
Ashok Sohanraj Oswal	2010
Aditya Arunkumar Poddar	1001
Amit Ashok Agarwal	1419
Arunkumar Ramkumar Poddar	983
Ashwinikumar Ramkumar Poddar	1001
Darshanadevi M. Agarwal	951
Deepchand Sonraj Oswal	1001
Gayatridevi A. Garg Agarwal	951
Madhu Arunkumar Poddar	2301
Neeru Agarwal	1
Prakash Sonraj Oswal	2001
Premprakash Lacchiram Goyal	1001
Punita Ashwinikumar Poddar	1401
Rajesh Sonraj Oswal	2001
Renuka Amit Garg Agarwal	938
Sangeeta Vijay Oswal	101
Sanjay Sonraj Oswal	2001
Savitridevi Ramkumar Poddar	3311
Sonraj Tarachand Oswal	1518
Uttamchand Sonraj Oswal	2001
Vijay Sonraj Oswal	1001
Vikas Premprakash Goyal	3249
Vinod Vedprakash Goyal	2449
Yatindra Ramesh Agarwal	1420
Yogesh Vedprakash Goyal	3801
Ajinkya Electromelt Private Limited, India	3001
Kashyap Ashwinikumar Poddar	636
Aakash Premprakash Goyal	2000
Total	45450

Equity Share Break up (Percentage of Total Equity)

AS ON: 30.09.2014

Category	Percentage
Bodies corporate	6.60
Directors or relatives of Directors	93.40
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Manufacturing and Importing of M.S. Billets and H.C. Billets.

Products :

Product Descriptions	ITC Code
Stainless Steel	72181000

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Products :

Raw Material (M. S. Scrap)

Countries :

• United Kingdom
• United Arab Emirates

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C and Credit

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 :

Wholesalers and Retailers

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 :

350 (Approximately)

Bankers :

Banker Name	Axis Bank Limited
Branch Address	Trishul, 3^rd Floor, Opposite Samartheshwar Temple, Law Garden Ellis Bridge, Ahmedabad - 380006, Gujarat, 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
The Cosmos Co-Operative Bank Limited, (Khadki Branch), Shaniwar Peth, Pune - 411 030, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee Term Loan from Banks	2.380	0.000
SHORT TERM BORROWING
Other Loans and Advances, Others	183.999	512.982
Total	186.379	512.982

Auditors :
Name :	V.K. Gujarathi and Company Chartered Accountants
Address :	Poonam Plaza, 403/4/5, Market Yard Road, Pune - 411037, Maharashtra, India
Tel. No.:	91-20-24275398/ 99
PAN No.:	AABCJ0956C
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON: 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
45450	Equity Shares	Rs.100/- each	Rs. 4.545 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	4.545	4.545	4.545
(b) Reserves & Surplus	183.528	216.431	199.833
(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)	188.073	220.976	204.378
(3) Non-Current Liabilities
(a) long-term borrowings	55.726	55.414	65.416
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	(71.860)
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	55.726	55.414	(6.444)
(4) Current Liabilities
(a) Short term borrowings	284.969	551.071	438.728
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	34.070	79.378	70.554
Total Current Liabilities (4)	319.039	630.449	509.282
TOTAL	562.838	906.839	707.216
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	136.525	156.588	168.830
(ii) Intangible Assets	0.000	0.000	0.000
(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	45.671	76.268	54.760
(c) Deferred tax assets (net)	18.714	2.987	2.070
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	200.910	235.843	225.660
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	72.524	358.355	189.548
(c) Trade receivables	200.030	180.310	216.570
(d) Cash and cash equivalents	1.246	3.579	1.663
(e) Short-term loans and advances	72.834	128.614	73.775
(f) Other current assets	15.294	0.138	0.000
Total Current Assets	361.928	670.996	481.556
TOTAL	562.838	906.839	707.216

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2003.216	3519.603	3776.794
	Other Income	2.177	6.499	9.037
	TOTAL (A)	2005.393	3526.102	3785.831
Less:	EXPENSES
	Cost of Sales	1968.722	3462.318	3690.394
	Sales and Administrative Expenses	17.711	32.205	40.238
	TOTAL (B)	1986.433	3494.523	3730.632
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)	18.960	31.579	55.199
Less:	FINANCIAL EXPENSES (D)	66.815	6.027	4.709
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(47.855)	25.552	50.490
Less:	DEPRECIATION/ AMORTISATION (F)	0.776	0.849	0.446
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(48.631)	24.703	50.044
Less:	TAX (H)	(15.727)	8.104	16.818
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(32.904)	16.599	33.226
Add:	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (J)	216.432	199.832	166.606
	Balance Carried to the B/S (I+J) (K)	183.528	216.431	199.832
	Earnings / (Loss) Per Share (Rs.)	(723.96)	365.21	NA

Particulars	31.03.2015
Sales Turnover	2190.000

Expected Sales (2015-2016): Rs. 2250.000 Million

The above information has been parted by Mr. Sadashiv Patil (Accounts Department)

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) Operations	NA	383.505	(85.491)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(1.64)	0.47	0.88
Operating Profit Margin (PBIDT/Sales)	(%)	0.95	0.90	1.46
Return on Total Assets (PBT/Total Assets}	(%)	(9.76)	2.98	7.69
Return on Investment (ROI) (PBT/Networth)		(0.26)	0.11	0.24
Debt Equity Ratio (Total Debt /Networth)		1.81	2.74	2.47
Current Ratio (Current Asset/Current Liability)		1.13	1.06	0.95

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	4.545	4.545	4.545
Reserves & Surplus	199.833	216.431	183.528
Net worth	204.378	220.976	188.073
long-term borrowings	65.416	55.414	55.726
Short term borrowings	438.728	551.071	284.969
Total borrowings	504.144	606.485	340.695
Debt/Equity ratio	2.467	2.745	1.812

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	3776.794	3519.603	2003.216
		(6.810)	(43.084)

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	3776.794	3519.603	2003.216
Profit	33.226	16.599	(32.904)
	0.88%	0.47%	(1.64%)

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	Yes
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	Yes
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	No
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 four 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

UNSECURED LOAN:

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS:
Deferred Sales Tax Loan	53.346	55.414
SHORT TERM BORROWINGS:
Intercorporate Borrowings	100.970	38.089
Total	154.316	93.503

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10481400	15/02/2014 *	2,420,000.00	Axis Bank Limited	TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	C00330654
2	10363713	18/06/2012	150,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	B42906040
3	10128629	04/11/2008	17,100,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	A50253814
4	10128630	04/11/2008	43,900,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	A50254135
5	10087915	04/11/2008 *	22,500,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	A50254309
6	10087914	05/02/2011 *	50,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI, BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	B06788343
7	10087913	04/11/2008 *	97,500,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	A50253871
8	90087017	08/10/2012 *	650,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	B60435153
9	90085992	08/10/2012 *	200,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KHADKI BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	B60434438
10	90085894	01/10/2001	11,500,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	KIRKEE BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	-

FIXED ASSETS:

• Land
• Factory building
• Other plant and equipment
• Furniture and fixtures
• Motor vehicles
• Office equipment
• Computer equipment
• Other equipment

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. 64.03
UK Pound	1	Rs. 99.72
Euro	1	Rs. 70.88

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	TRI
Report Prepared by :	THR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		33

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.