MIRA INFORM REPORT

Report No. :	324729
Report Date :	06.05.2015

IDENTIFICATION DETAILS

Name :	KANODIA TECHNOPLAST LIMITED [w. e. f. 16.12.2009]
Formerly Known As :	KANODIA TECHNOPLAST PRIVATE LIMITED
Registered Office :	A-54, Wazirpur Industrial Area, NEW DELHI-110052
Tel. No.:	91-11-27373071
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.04.1995
Com. Reg. No.:	55-067544
Capital Investment / Paid-up Capital :	Rs. 629.456 Million
CIN No.: [Company Identification No.]	U74899DL1995PLC067544
IEC No.:	Not Available
TIN No.:	06353017190
TAN No.: [Tax Deduction & Collection Account No.]	DELK03431B
PAN No.: [Permanent Account No.]	AAACK3668F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Packing Material and Distribution of electricity.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 3400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established Company incorporated in April 1995 and it is having satisfactory track record. During the year 2014, company have achieved Rs. 2692.100 Million sales turnover and reported 48.47% top line growth. Profitability of the company stood at 5.15% backed by its debt to equity at 1.05 times. The rating however favorable factor on established track record in packaging business and healthy financial of the company. Trade relations are fair. Business is active. Payments are reported to be usually correct. In view of healthy financial backed by decent net worth, the company can be considered for the business dealings with its 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	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	Suspended
Rating Explanation	Inability to carry out a rating surveillance
Date	Sep 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 (GENERAL INFORMATION)

Name :	Ms. Preetkaur Gagan
Designation :	Key Executive
Contact No.:	91-11-27373071
Date :	29.05.2015

LOCATIONS

Registered Office :	A-54, Wazirpur Industrial Area, New Delhi-110052, India
Tel. No.:	91-11-27373071/43274274
Mobile No.:	Not Available
Fax No.:	91-11-43274275
E-Mail :	vivek@kanodia.com
Website :	http://kanodiaindia.com
Location :	Owned
Locality :	Commercial
Factory :	Plot No. 113, Sector 56, Phase IV, HIISDC Industrial Estate, Kundli, Sonepat, Haryana, India
Location :	Owned
Cylinder Division:	A-43, Wazirpur Industrial Area, New Delhi-110052, India
Tel. No.:	91-11-42474834
E-Mail :	info@kanodiaindia.com

DIRECTORS

AS ON: 29.12.2014

Name :

Mr. Chetan Keshav Dev Kanodia

Designation :

Managing Director

Address :

A-213, Kewal Park, Azadpur, Delhi-110033, India

Date of Birth/Age :

24.12.1952

Date of Appointment :

24.05.2011

PAN No :

AIHPK1457C

DIN No.:

00713513

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	U74899DL1995PLC067544	KANODIA TECHNOPLAST LIMITED	Managing director	24/05/2011	20/04/1995	-	Active	NO
2	U25203DL2007PTC168297	DLK DESIGNS PRIVATE LIMITED	Director	29/09/2012	07/01/2011	-	Active	NO

Name :

Mrs. Meenu Chetan Kanodia

Designation :

Whole - Time Director

Address :

A-213, Kewal Park, Azadpur, Delhi-110033, India

Date of Birth/Age :

20.07.1955

Date of Appointment :

01.07.2011

PAN No.:

AALPK5236H

DIN No.:

00688289

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	U74899DL1995PLC067544	KANODIA TECHNOPLAST LIMITED	Whole-time director	01/07/2011	20/04/1995	-	Active	NO

Name :

Gaurav Tandon

Designation :

Director

Address :

WA-135, Street NO.11,, Delhi, 110092, Delhi, India

Date of Appointment :

29.12.2014

DIN No.:

06902543

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	U74899DL1995PLC067544	KANODIA TECHNOPLAST LIMITED	Director	29/12/2014	09/06/2014	-	Active	NO

Name :

Mr. Subhash Chand Gupta

Designation :

Director

Address :

1103, Guru samridhi heights, Plot-2,, Sector-14, Palm Beach Road, Sanpada,, Navi Mumbai, 400705, Maharashtra, India

Date of Appointment :

25.08.2011

DIN No.:

00072816

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	U51100MH1997PTC107560	AKRUTI TRADVEST PRIVATE LIMITED	Director	19/01/1998	19/01/1998	23/06/2014	Active	NO
2	U99999MH2005PTC158064	ESPRY SOFTECH (INDIA) PRIVATE LIMITED	Director	08/09/2005	08/09/2005	-	Active	NO
3	U74900MH2008PTC178927	ANTHURIUM CORPORATE ADVISORS PRIVATE LIMITED	Director	30/01/2010	30/01/2010	-	Active	NO
4	U74899DL1995PLC067544	KANODIA TECHNOPLAST LIMITED	Director	25/08/2011	01/08/2011	-	Active	NO

Name :

Arun Agarwal

Designation :

Nominee director

Address :

1403, C-wing, Anmol Towers, off Patel Auto Pump, SV Road, Goregaon West, Mumbai, 400062, Maharashtra, India

Date of Appointment :

10.12.2012

DIN No.:

00194010

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	U51909MH2007PTC172172	Color lines Trading Private Limited	Director	07/07/2007	07/07/2007	-	Strike off	NO
2	U74900MH1981PLC024577	RETAIL HUB SOLUTIONS LIMITED	Director	30/05/2008	30/05/2008	29/10/2010	Active	NO
3	U70102MH2010PLC202294	JEKEGRAM REALTY LIMITED	Director	22/04/2010	22/04/2010	30/10/2010	Active	NO
4	U24230KA2007PTC043892	OLIVE LIFESCIENCES PRIVATE LIMITED	Nominee director	03/12/2012	03/12/2012	-	Active	NO
5	U74899DL1995PLC067544	KANODIA TECHNOPLAST LIMITED	Nominee director	10/12/2012	10/12/2012	-	Active	NO
6	U74140MH2008PTC179973	Blue ocean capital and advisory services private limited	Additional director	01/10/2013	01/10/2013	-	Active	NO

Name :

Harsh Kumar Aggarwal

Designation :

Director

Address :

S-13D, Top Floor, Sunder Block, Shakarpur, Delhi, 110092, Delhi, India

Date of Appointment :

29.12.2014

DIN No.:

06903152

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	U74899DL1995PLC067544	KANODIA TECHNOPLAST LIMITED	Director	29/12/2014	09/06/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ankur Chaturvedi
Designation :	Company Secretary
Name :	Mandeep Kaur
Designation :	Secretary
Address :	HL 100, Phase 7 Mohali, Mohali, 160062, Chandigarh, INDIA
Date of Appointment :	13/11/2014
PAN No.:	CCFPK0224H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 29.12.2014

Names of Shareholders	No. of Shares
Kavita Rakesh Gupta	70
K D Kanodia and Sons HUF	804
Chetan Kanodia and Sons HUF	4306226
Dhruv Chetan Kanodia	770000
Arudhra Finvest (India) Limited	3335000
Subhra Plantations (India) Limited	3538500
Agali Chemicals Private Limited	1500000
Indus Kamdhenu Fund Limited	18055423
Total	31506023

Equity Share Break up (Percentage of Total Equity)

AS ON: 29.12.2014

Category	Percentage
Bodies corporate	57.45
Directors or relatives of Directors	42.55
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Packing Material and Distribution of electricity.

Products/Services :

ITC Code	Products or Services
84425010	Manufacturing of Cylinders
48239013	Manufacturing of packing Material
83099090	Distribution of Electricity by wind mill

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cheque and Credit (60/90 days)

Purchasing :

Cheque and Credit (60/90 days)

PRODUCTION STATUS

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 :

250 (Approximately)

Bankers :

Banker Name	Axis Bank Limited
Branch Address	2nd floor, statesman house, 148, Barakhamba Road, New Delhi - 110001, Delhi, 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

• State Bank of Patiala, Commercial Branch, Chandralok building, 36, Janpath, New Delhi - 110001, Delhi, India

• Punjab and Sind Bank, IFB, B Block ;Connaught Place, New Delhi, Delhi, 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	495.601	118.157
Rupee Term loan from Others	72.098	89.323
SHORT TERM BORROWING
Working Capital Loan from Banks	583.455	324.729
Total	1151.154	532.209

Financial Institutions	Unitel Credit Private Limited, 701/57,Manjusha , Nehru Place , New Delhi - 110019, Delhi, India Intech Securities Limited, 701/57, Manjusha , Nehru Place , New Delhi - 110019, Delhi, India
Auditors :
Name :	Lodha and Company Chartered Accountant
Address :	12, Bhagat Singh Marg, India
PAN No.:	AABFL1894Q
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	DLK Designs Private Limited, India U25203DL2007PTC168297 KD Kanodia & Sons HUF, INDIA AAHHK8651A

CAPITAL STRUCTURE

As on: 29.12.2014

Authorized Capital :

No. of Shares	Type	Value	Amount
47000000	Equity Shares	Rs.10/- each	Rs. 470.000 Million
3500000	Preference Shares	Rs.100/- each	Rs. 350.000 Million
50500000	Total		Rs. 820.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46000923	Equity Shares	Rs.10/- each	Rs. 460.009 Million

As on 31.03.2014

Authorized Capital :

No. of Shares	Type	Value	Amount
47000000	Equity Shares	Rs.10/- each	Rs. 470.000 Million
3500000	Preference Shares	Rs.100/- each	Rs. 350.000 Million
50500000	Total		Rs. 820.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27945600	Equity Shares	Rs.10/- each	Rs. 279.456 Million
3500000	Preference Shares	Rs.100/- each	Rs. 350.000 Million
	Total		Rs. 629.456 Million

Disclosure of shareholding more than five per cent in company

Particulars	Type	No. of Shares
Chetan Kanodia	Equity	9279200
Meenu Kanodia		5215630
Chetan Kanodia and Sons HUF		4306226
Arudhra Finvest (India) Limited		3335000
Subhra Plantations (India) Limited		3538500
Angali Chemicals Private Limited		1500000
Indus Kamdhenu Fund Limited	3% Convertible Cumulative Preference shares	3500000

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	629.456	629.456	279.455
(b) Reserves & Surplus	570.619	446.040	440.981
(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)	1200.075	1075.496	720.436
(3) Non-Current Liabilities
(a) long-term borrowings	682.141	304.422	186.916
(b) Deferred tax liabilities (Net)	107.765	99.221	0.000
(c) Other long term liabilities	0.000	8.303	18.629
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	789.906	411.946	205.545
(4) Current Liabilities
(a) Short term borrowings	583.455	324.729	326.631
(b) Trade payables	495.032	167.434	79.846
(c) Other current liabilities	286.941	135.846	88.336
(d) Short-term provisions	63.511	40.797	34.518
Total Current Liabilities (4)	1428.939	668.806	529.331
TOTAL	3418.920	2156.248	1455.312
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1268.857	679.845	536.080
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	292.599	172.664	185.336
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.100	0.100
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	147.705	259.795	105.187
(e) Other Non-current assets	7.646	0.000	0.000
Total Non-Current Assets	1716.807	1112.404	826.703
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	300.375	163.723	82.185
(c) Trade receivables	1170.630	644.585	355.243
(d) Cash and cash equivalents	25.715	12.517	8.292
(e) Short-term loans and advances	193.388	219.359	157.463
(f) Other current assets	12.005	3.660	25.426
Total Current Assets	1702.113	1043.844	628.609
TOTAL	3418.920	2156.248	1455.312

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from Operations	2692.166	1813.281	1556.059
	Other Income	20.277	20.625	4.471
	TOTAL (A)	2712.443	1833.906	1560.530
Less	EXPENSES
	Cost of Materials Consumed	1782.729	1315.303	1151.048
	Purchases of Stock-in-Trade	224.741	86.499	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(20.129)	(45.985)	13.859
	Employees benefits expense	47.736	42.667	33.751
	Other expenses	301.535	177.597	139.088
	Extraordinary Items	0.000	(1.089)	3.376
	TOTAL (B)	2336.612	1574.992	1341.122
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)	375.831	258.914	219.408
Less	FINANCIAL EXPENSES (D)	116.812	81.967	67.948
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	259.019	176.947	151.460
Less/ Add	DEPRECIATION/ AMORTISATION (F)	66.656	37.742	26.893
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	192.363	139.205	124.567
Less	TAX (H)	53.674	44.935	24.076
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	138.689	94.270	100.491
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	425.985	206.583	139.802
	TOTAL EARNINGS	425.985	206.583	139.802
	IMPORTS
	Raw Materials	90.173	162.289	187.346
	Components and Stores parts	0.000	0.000	10.891
	Capital Goods	292.990	226.287	174.310
	TOTAL IMPORTS	383.163	388.576	372.547
	Earnings Per Share (Rs.)
	Basic	4.52	3.16	3.60
	Diluted	3.01	2.87	3.60

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	158.889	107.430	81.073
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	5.15	5.20	6.46
Operating Profit Margin (PBIDT/Sales)	(%)	13.96	14.28	14.10
Return on Total Assets (PBT/Total Assets}	(%)	6.15	7.02	9.81
Return on Investment (ROI) (PBT/Networth)		0.16	0.13	0.17
Debt Equity Ratio (Total Debt /Networth)		1.19	0.68	0.83
Current Ratio (Current Asset/Current Liability)		1.19	1.56	1.19

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	279.455	629.456	629.456
Reserves & Surplus	440.981	446.040	570.619
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	720.436	1075.496	1200.075
long-term borrowings	186.916	304.422	682.141
Short term borrowings	326.631	324.729	583.455
Current maturities of long-term debts	81.073	107.430	158.889
Total borrowings	594.620	736.581	1424.485
Debt/Equity ratio	0.825	0.685	1.187

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)
Revenue from Operations	1556.059	1813.281	2692.166
		16.530	48.469

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operations	1556.059	1813.281	2692.166
Profit	100.491	94.270	138.689
	6.46%	5.20%	5.15%

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 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	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

REVIEW OF OPERATIONS:

The accounts of the company reveal that the total turnover (net of excise) of the company during the financial year 2013-14 is Rs. 2692.166 Million as compared to the total turnover of 1813.280 Million in year 2012-13,the net profit before provision for taxation of the company increased to Rs192.362 Million from Rs137.026 Million

UNSECURED LOAN:

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long Term Borrowings
Loans and advances from Others	41.500	1.500
Other Loans and advances	72.942	95.442
Total	114.442	96.942

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10465908	14/11/2013	100,000,000.00	Axis Bank Limited	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,  NEW DELHI, DELHI - 110001, INDIA	B91865303
2	10463767	27/03/2015 *	921,500,000.00	State Bank of India (Lead Bank)	COMMERCIAL BRANCH N-3 SOUTH EXTENSION PART-1, NEW  DELHI, NEW DELHI, DELHI - 110048, INDIA	C50792928
3	10465906	21/10/2013	100,000,000.00	Axis Bank Limited	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,  NEW DELHI, DELHI - 110001, INDIA	B91864553
4	10407422	21/10/2013 *	600,000,000.00	State Bank Of India	COMMERCIAL BRANCH, N-3, SOUTH EXTENSION-I, NEW DELHI, DELHI - 110049, INDIA	B91190223
5	10386027	05/11/2012	90,000,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH , NEW DELHI, Delhi - 110001, INDIA	B61918736
6	10325093	26/03/2015 *	84,961,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	C51259059
7	10306331	28/01/2013 *	70,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	B68432434
8	10239574	08/12/2011 *	233,000,000.00	AXIS BANK LIMITED	4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, DELHI - 110002, INDIA	B28978674
9	10239577	10/09/2010	164,100,000.00	AXIS BANK LIMITED	4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, DELHI - 110002, INDIA	A94293610
10	10169744	05/11/2012 *	230,000,000.00	STATE BANK OF PATIALA	COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH , NEW DELHI, DELHI - 110001, INDIA

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Outstanding Bank Guarantees	6.878	6.458
Bills Discounted with Banks	19.514	5.305
Income Tax Demand where company has preferred appeals	29.227	28.540
Sales Tax/ Entry Tax Demand	7.198	1.648
Outstanding Corporate guarantees given to banks in respect of fund/non fund based facilities extended to other body	349.700	300.000
TOTAL	412.517	341.951

FIXED ASSETS:

• Land
• Buildings
• Factory building
• Plant and equipment
• Other plant and equipment
• Furniture and fixtures
• 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. 63.85
UK Pound	1	Rs. 98.12
Euro	1	Rs. 71.28

INFORMATION DETAILS

Information Gathered by :	MNU
Analysis Done by :	KAS
Report Prepared by :	THR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--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		49

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.