MIRA INFORM REPORT

Report No. :	327003
Report Date :	12.06.2015

IDENTIFICATION DETAILS

Name :	MANTRI METALLICS PRIVATE LIMITED

Registered Office :	F 10-1, MIDC Industrial Estate, Shiroli, Kolhapur – 416122, Maharashtra
Tel. No.:	91-230-2469065

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	31.07.1995

Com. Reg. No.:	11-091232

Capital Investment / Paid-up Capital :	Rs.37.192 Million

CIN No.: [Company Identification No.]	U28920PN1995PTC091232

IEC No.:	3104018375

TIN No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	KLPM01827A

PAN No.: [Permanent Account No.]	AABCM7851P

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter and Importers of Cast Iron Automotive Components.

No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (24)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow

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 and thin profitability margins of the company. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and secured 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	ICRA
Rating	Term Loan = C
Rating Explanation	Poor credit quality and limited prospects of recovery.
Date	October 2014

Rating Agency Name	ICRA
Rating	Short Term Non-Fund Based Limits = A4
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	October 2014

RBI DEFAILTERS’ 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. D. S. Pasare
Designation :	Assistant Manager
Contact No.:	91-230-2469065
Date :	11.06.2015

LOCATIONS

Registered Office / Factory 1 :	F 10-1, MIDC Industrial Estate, Shiroli, Kolhapur – 416122, Maharashtra, India
Tel. No.:	91-230-2469065/2469075
Mobile No.:	91-9049006015 (Mr. Niteen Munde)
Fax No.:	91-230-2466164
E-Mail :	admin@mantrimetallics.com mkta@mantrimetallics.com finance@maintrimetallics.com
Website :	www.mantrimetallics.com
Area :	5000 Sq. Mtr.
Location :	Owned
Locality:	Commercial

Factory 2 :	Plot No. 31, Sector 11. I.I.E. - SIDCUL, Tata Vendor Park, Rudrapur, U. S. Nagar, Pantnagar – 253153, Uttarakhand, India

Factory 3 :	Plot No. D5, Kagal Hatkangale Five Star Industrial Estate, P O Randivewadi, Taluka Kolhapur – 416236, Maharashtra, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Purushottam Kanhaiyalal Mantri

Designation :

Managing director

Address :

Venkatesh 45A, Shivaji Park, Kolhapur – 416001, Maharashtra, India

Date of Birth/Age :

03.04.1947

Date of Appointment :

31.07.1995

PAN No.:

AICPM7308P

DIN No.:

00172526

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	U28920PN1995PTC091232	MANTRI METALLICS PRIVATE LIMITED	Director	01/03/2014	31/07/1995	-	Active	NO
2	U35914PN2006PTC129019	MANTRI AUTO COMPONENTS PRIVATE LIMITED	Director	07/09/2006	07/09/2006	-	Active	NO
3	U29222PN2012PTC143602	MANTRI APROTECH POWERTRAIN PRIVATE LIMITED	Director	05/06/2012	05/06/2012	-	Active	NO
4	U29230PN2012PTC145563	MANTRI AUTOCAST PRIVATE LIMITED	Director	30/11/2012	30/11/2012	-	Active	NO

Name :

Mr. Prasad Purushottam Mantri

Designation :

Director

Address :

Venkatesh 45A, Shivaji Park, Kolhapur – 416001, Maharashtra, India

Date of Birth/Age :

11.10.1978

Date of Appointment :

01.12.2004

PAN No.:

ABKPM4866D

DIN No.:

00172582

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	U28920PN1995PTC091232	MANTRI METALLICS PRIVATE LIMITED	Managing director	01/03/2014	01/12/2004	-	Active	NO
2	U35914PN2006PTC129019	MANTRI AUTO COMPONENTS PRIVATE LIMITED	Director	07/09/2006	07/09/2006	-	Active	NO
3	U74999PN2006NPL021834	KOLHAPUR FOUNDRY AND EGINEERING CLUSTER	Director	23/07/2010	23/07/2010	30/09/2013	Active	NO
4	U29222PN2012PTC143602	MANTRI APROTECH POWERTRAIN PRIVATE LIMITED	Director	05/06/2012	05/06/2012	-	Active	NO
5	U29230PN2012PTC145563	MANTRI AUTOCAST PRIVATE LIMITED	Director	30/11/2012	30/11/2012	-	Active	NO

Name :

Mr. Vijaykumar Madanlal Nawandhar

Designation :

Director

Address :

Pujari Plot No. 35, Narayani Vishrambaug, Sangli, Kolhapur – 416416, Maharashtra, India

Date of Birth/Age :

21.10.1958

Date of Appointment :

26.04.2010

DIN No.:

00218197

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	L40108MH1990PLC058774	MOHITE INDUSTRIES LIMITED	Director	27/09/2014	24/12/1994	-	Active	NO
2	U65191PN2001PLC016042	SUBHADRA LOCAL AREA BANK LIMITED	Director	10/04/2001	10/04/2001	30/03/2010	Active	NO
3	U70101PN1988PTC050133	NAWANDHAR PROPERTIES PRIVATE LIMITED	Director	16/11/2002	16/11/2002	-	Active	NO
4	U25209PN2009PTC133440	LAXMI RESINS PRODUCTS PRIVATE LIMITED	Director	28/09/2010	25/03/2009	27/09/2012	Active	NO
5	U28920PN1995PTC091232	MANTRI METALLICS PRIVATE LIMITED	Director	30/09/2010	26/04/2010	-	Active	NO
6	U51505PN1976PLC151160	SHREEM ELECTRIC LIMITED	Director	26/09/2013	06/11/2012	-	Active	NO

Name :

Mr. Shaji Varghese

Designation :

Director

Address :

A 702, 7th Floor, Aster Evershine Park, Andheri, Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

15.12.1970

Date of Appointment :

10.11.2010

DIN No.:

03081298

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	U74994MH1996PTC101050	RELIABLE AUTOTECH PRIVATE LIMITED	Nominee director	21/04/2010	21/04/2010	-	Active	NO
2	U34100MH1989PTC051360	RELIABLE TECHNOCRATS PRIVATE LIMITED	Nominee director	21/04/2010	21/04/2010	-	Amalgamated	NO
3	U28920PN1995PTC091232	MANTRI METALLICS PRIVATE LIMITED	Director	30/09/2011	10/11/2010	-	Active	NO
4	U67190MH2012PTC228931	EQ INVESTMENT ADVISORS PRIVATE LIMITED	Director	29/03/2012	29/03/2012	-	Active	NO

Name :

Mr. Ashok Sunderlal Mohatta

Designation :

Director

Address :

127 Daya Mandir Tambakata Road, 1^st Floor, Mumbai – 400003, Maharashtra, India

Date of Birth/Age :

15.04.1955

Date of Appointment :

24.04.2014

DIN No.:

01111571

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	U30005MH1995PTC084585	SANSKAR INFO TV PRIVATE LIMITED	Director	12/01/1995	12/01/1995	23/06/2009	Active	NO
2	U92110MH2003PLC140792	LAMHAS ENTERTAINMENT LIMITED	Director	29/09/2012	22/12/2011	-	Active	NO
3	U28920PN1995PTC091232	MANTRI METALLICS PRIVATE LIMITED	Director	30/09/2014	24/04/2014	-	Active	NO
4	U24246MH1995PTC084628	MOHATTA COMPUTERS PRIVATE LIMITED	Additional director	15/03/2015	15/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. D. S. Pasare
Designation :	Assistant Manager

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders		No. of Shares
Prasad Purushottam Mantri		1519077
Prasad Purushottam Mantri (HUF)		24000
Sarala Purushottam Mantri		199000
Pooja Purushottam Mantri		7000
Prasad Purushottam Mantri		498710
Sitaram Kanhaiyalal Mantri		41000
Shruti Prasad Mantri		203050
BTS Pricate Equity Fund Limited, Mauritius		1227329

As on 28.10.2014

Names of Allottees		No. of Shares
Sarla Purushottam Mantri		300000
Total		300000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	33.00
Directors or relatives of Directors	67.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Cast Iron Automotive Components.

Products :

Product Description	Item Code No. (ITC Code)
Motor Vechile Part Accessories	HF 8708

Brand Names :

Agencies Held :

Exports :

Products :

Cast Iron Automotive Components

Countries :

US
Europe
Germany
Italy
France

Imports :

Products :

Raw Material

Countries :

Europe

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

1500 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Industrial Estate Branch, Shiroli MIDC, Taluka-Hatkangale, Kolhapur- 416122, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash Credit = Rs.400.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Rupee term loans from banks	181.548	228.876
Rupee term loans from others	41.278	31.098
Other loans and advances	3.326	3.595
SHORT TERM BORROWINGS
Rupee term loans from banks	39.299	0.000
Working capital loans from banks	512.570	459.234
Total	778.021	722.803


Financial Institute :	Intec Capital Limited, 701,Manjusha, 57 Nehru Place, New Delhi - 110019, Delhi, India Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India

Auditors :
Name :	B B S R and Company Chartered Accountants
Address :	1st Floor Lodha Excelus, Apollo Mill Compound, N M Joshi Marg, Mahalaxmi, Mumbai, Maharashtra, India
PAN No.:	AAIFB0630K

Memberships :	--

Collaborators :	--

Subsidiary company:	Mantri Aprotech Powertrain Private Limited, India CIN No.: U29222PN2012PTC143602

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Sarla Mantri and Mantri Autocast

CAPITAL STRUCTURE

After 30.09.2014

Authorised Capital : Rs. 300.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 67.192 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million
2000000	Preference Shares	Rs.100/- each	Rs.200.000 Million
	Total		Rs.300.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

3719179	Equity Shares	Rs.10/- each	Rs.37.192 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	37.192	37.192	37.192
(b) Reserves & Surplus	406.141	394.580	383.408
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	30.000	30.000	30.000
Total Shareholders’ Funds (1) + (2)	473.333	461.772	450.600

(3) Non-Current Liabilities
(a) long-term borrowings	267.909	329.188	439.259
(b) Deferred tax liabilities (Net)	86.649	88.870	76.652
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	354.558	418.058	515.911

(4) Current Liabilities
(a) Short term borrowings	570.519	459.234	347.894
(b) Trade payables	532.851	416.341	373.111
(c) Other current liabilities	170.972	200.571	187.222
(d) Short-term provisions	14.223	8.870	16.861
Total Current Liabilities (4)	1,288.565	1,085.016	925.088

TOTAL	2,116.456	1,964.846	1,891.599

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	892.144	921.975	906.281
(ii) Intangible Assets	2.380	1.829	2.343
(iii) Capital work-in-progress	5.510	4.861	4.929
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.563	0.563	0.053
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	91.680	88.684	94.046
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	992.277	1,017.912	1,007.652

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	332.735	289.553	259.779
(c) Trade receivables	488.628	494.901	495.450
(d) Cash and cash equivalents	26.895	37.394	28.675
(e) Short-term loans and advances	272.742	120.637	97.548
(f) Other current assets	3.179	4.449	2.495
Total Current Assets	1,124.179	946.934	883.947

TOTAL	2,116.456	1,964.846	1,891.599

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income				2756.126
		Other Income				NA
		TOTAL		2503.643	2809.128	NA

Less	EXPENSES
		TOTAL		2494.292 (Including Financial and Depreciation Expenses)	2784.732 (Including Financial and Depreciation Expenses)	NA

	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION					296.626

Less	FINANCIAL EXPENSES					114.543

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION					182.083

Less	DEPRECIATION/ AMORTISATION					69.564

	PROFIT/(LOSS) BEFORE TAX			9.351	24.396	112.519

Less	TAX			(2.210)	13.224	33.785

	PROFIT/(LOSS) AFTER TAX			11.561	11.172	78.734

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			206.853	195.681	116.947

	BALANCE CARRIED TO THE B/S			218.414	206.853	195.681

	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	910.180	729.012	594.178
	TOTAL EARNINGS			910.180	729.012	594.178

	IMPORTS
			Raw Materials	64.121	109.801	73.665
			Components and Stores parts	21.768	18.000	12.347
	TOTAL IMPORTS			85.889	127.801	86.012

	Earnings / (Loss) Per Share (Rs.)			3.11	3.00	30.33

Expected Sales (2014-2015): Rs.2200.000 Million

The above information has been parted by Mr. D. S. Pasare

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

118.912

151.801

135.137

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	NA	NA	2.86

Operating Profit Margin (PBDIT/Sales)	(%)	NA	NA	10.76

Return on Total Assets (PBT/Total Assets}	(%)	0.44	1.25	5.97

Return on Investment (ROI) (PBT/Networth)		0.02	0.05	0.25

Debt Equity Ratio (Total Debt /Networth)		2.02	1.71	1.75

Current Ratio (Current Asset/Current Liability)		0.87	0.87	0.96

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	37.192	37.192	37.192
Reserves & Surplus	383.408	394.580	406.141
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	30.000	30.000	30.000
Net worth	450.600	461.772	473.333

Long Term borrowings	439.259	329.188	267.909
Short Term borrowings	347.894	459.234	570.519
Current Maturities of Long term debt	135.137	151.801	118.912
Total borrowings	922.290	940.223	957.340
Debt/Equity ratio	2.047	2.036	2.023

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Total Income	2,809.128	2,503.643
	1.923	(10.875)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Total Income	2,809.128	2,503.643
Profit	11.172	11.561
	0.40%	0.46%

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	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
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%	Yes
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 LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Deferred sales tax loan	9.410	11.678
Loans and advances from others	29.360	47.004
Other loans and advances	2.987	6.937
SHORT TERM BORROWINGS
Rupee term loans from others	18.650	0.000
Total	60.407	65.619

OPERATIONS AND FUTURE PROSPECTS

Directors are confident that the Company will continue to maintain its good services and Directors are optimistic for a bright future of the Company.

BACKGROUND

Subject was incorporated in 1995. Subject manufactures cast iron automotive components like Flywheel Assemblies, Brake Drums, Exhaust Manifolds, Housings and Plates. The Company has three manufacturing plants at Shiroli, Kagal and Pantnagar.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10558884	23/03/2015	31,297,095.00	ELECTRONICA FINANCE LIMITED	128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA	C48951354
2	10523662	27/05/2014	10,409,287.00	INTEC CAPITAL LIMITED	701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	C25444654
3	10459931	31/10/2013	16,359,313.00	INTEC CAPITAL LIMITED	701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B89432397
4	10354404	21/01/2011	100,000,000.00	STATE BANK OF INDIA	INDUSTRIAL ESTATE BRANCH, SHIROLI MIDC, TAL-HATKA NGALE, KOLHAPUR, MAHARASHTRA - 416122, INDIA	B33836727
5	10354407	21/01/2011	220,000,000.00	STATE BANK OF INDIA	INDUSTRIAL ESTATE BRANCH, SHIROLI MIDC, TAL-HATKA NGALE, KOLHAPUR, MAHARASHTRA - 416122, INDIA	B33837808
6	10215360	27/03/2010	20,879,783.00	ELECTRONICA FINANCE LIMITED	128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS,, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA	A84118793
7	10113889	12/07/2008	76,000,000.00	STATE BANK OF INDIA	SPECIAL SSI BRANCH, M.I.D.C AREA, SHIROLI, KOLHAPUR, MAHARASHTRA - 416122, INDIA	A42287847
8	10189590	04/12/2014 *	245,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	C36220895
9	10082418	21/08/2007	8,300,000.00	STATE BANK OF INDIA	MIDC INDUSTRIAL ESTATE SHIROLI BRANCH,, SHIROLI,, KOLHAPUR, MAHARASHTRA - 416122, INDIA	A29790946
10	10088538	21/08/2007	8,600,000.00	STATE BANK OF INDIA	MIDC INDUSTRIAL ESTATE SHIROLI BRANCH,, SHIROLI,, KOLHAPUR, MAHARASHTRA - 416122, INDIA	A29790920

*Date of modification Charges

CONTINGENT LIABILITIES:

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Bank guarantees on behalf of Mantri Autocast, proprietary concern of Sarla Mantri, wife of Purushottam Mantri

108.000

28.400

FIXED ASSETS

Land
Buildings
Plant and equipment
Furniture and fixtures
Vehicles
Office equipment
Computer equipments
Other equipments
Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.89
UK Pound	1	Rs.98.90
Euro	1	Rs.72.31

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	KAR

Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO

TOTAL		24

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.

MIRA INFORM REPORT

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