MIRA INFORM REPORT

Report No. :	309642
Report Date :	02.03.2015

IDENTIFICATION DETAILS

Name :	RAMKUMAR MILLS PRIVATE LIMITED

Registered Office :	6^th Block, Rajajinagar, Bangalore – 560010, Karnataka

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	16.01.1947

Com. Reg. No.:	08-000450

Capital Investment / Paid-up Capital :	Rs. 20.904 Million

CIN No.: [Company Identification No.]	U17111KA1947PTC000450

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

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Subject undertakes processing activity in respect of own fabric and of fabrics received on job work. The company has also invested in real estate segment.

No. of Employees :	Information Declined by the management

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 old and well-established company having a moderate track. As per registrar of companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2014 but the documents related to the financials for the year 2014 is not available from any sources. As per available financial of 2013, the company has fair profit margin. However, trade relations seems to be fair. Business is active as per status shown in the registrar of companies. Payments are reported to be slow but correct. The company can be considered for business dealings 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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	Long term rating: B
Rating Explanation	Risk prone credit quality and carries very high credit risk.
Date	December 2013

Rating Agency Name	ICRA
Rating	Short term rating: A4
Rating Explanation	Minimal degree of safety and carries high credit risk.
Date	December 2013

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 31-03-2014.

INFORMATION DECLINED BY

Name :	Pramod
Designation :	Accounts Manager
Contact No.:	91-80-23205796
Date :	26.02.2015

LOCATIONS

Registered Office :	6^th Block, Rajajinagar, Bangalore – 560010, Karnataka, India
Tel. No.:	91-80-23353996 / 23301686 / 23388801 / 23205796 (15Lines)
Fax No.:	91-80-23386873
E-Mail :	webquery@ramkumarmills.co.in develop@ramkumarmills.co.in accounts@sumangalaproperties.com
Website :	www.ramkumarmills.co.in

DIRECTORS

As on 29.09.2014

Name :

Mr. Yadalam Nanjaiahsetty Gangadharsetty

Designation :

Chairman cum Managing Director

Address :

No.45, Devi Vihar, 39^th Cross 8^th Block, Jayanagar, Bangalore – 560082, Karnataka, India.

Date of Birth/Age :

12.12.1922

Date of Appointment :

09.09.1961

DIN No.:

00432522

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	U18201KA1944PTC000340	YADALAM BROTHERS PRIVATE LIMITED	Director	04-04-44	04-04-44	-	Active	NO
2	U17111KA1947PTC000450	RAMKUMAR MILLS PRIVATE LIMITED	Director	09-09-61	09-09-61	-	Active	NO
3	U65910KA1983PTC005189	DEVI MOOKAMBIKA HOLDINGS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Converted to LLP and dissolved	NO
4	U67120KA1983PTC005192	YSN INFRASTRUCTURE SERVICES PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Active	NO
5	U67120KA1983PTC005195	SHRADHA HOLDINGS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Active	NO
6	U67120KA1983PTC005190	SUCHITRA HOLDINGS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Converted to LLP and dissolved	NO
7	U67120KA1983PTC005191	GIRI HOLDINGS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Converted to LLP and dissolved	NO
8	U67120KA1983PTC005196	SHUBHAM VENTURES & PROPERTIES PRIVATE LIMITED	Director	02-03-06	02-03-06	-	Converted to LLP and dissolved	NO

Name :

Mr. Yadalam Gangadharasetty Vijaykumar

Designation :

Managing Director

Address :

No 744, 13^th Cross 7^th Block, Jayanagar, Bangalore – 560082, Karnataka, India.

Date of Birth/Age :

29.07.1951

Date of Appointment :

29.03.1999

DIN No.:

00432886

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	U65910KA1983PTC005189	DEVI MOOKAMBIKA HOLDINGS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Converted to LLP and dissolved	NO
2	U18101KA1992PTC012702	LOTUS IT TECHPARK PRIVATE LIMITED	Director	09-01-92	09-01-92	-	Active	NO
3	U65921KA1989PTC010140	HEXAGON CAPITAL ADVISORS PRIVATE LIMITED	Director	24-04-97	24-04-97	-	Active	NO
4	U17111KA1947PTC000450	RAMKUMAR MILLS PRIVATE LIMITED	Managing director	29-03-99	29-03-99	-	Active	NO
5	U92490KA2001PTC029509	SAMSKRUTA KALAKSHETRA PRIVATE LIMITED	Director	18-09-01	18-09-01	-	Active	NO
6	U67120KA2001PTC029641	Hexagon Topvalue Private Limited	Director	02-06-04	02-06-04	-	Active	NO
7	U85110KA1995PTC016953	RKM TEXTILES PRIVATE LIMITED	Director	12-01-05	12-01-05	-	Active	NO
8	U67120KA1983PTC005192	YSN INFRASTRUCTURE SERVICES PRIVATE LIMITED	Director	06-12-06	06-12-06	-	Active	NO
9	U74910KA2007PTC041725	TALENT BRIDGE CONSULTING (INDIA) PRIVATE LIMITED	Director	08-02-07	08-02-07	03-01-08	Active	YES
10	U55101KA2008PTC045418	GOLDEN TREE HOTELS PRIVATE LIMITED	Director	27-02-08	27-02-08	-	Active	NO
11	U67120KA1983PTC005196	SHUBHAM VENTURES & PROPERTIES PRIVATE LIMITED	Director	24-09-10	02-09-10	-	Converted to LLP and dissolved	NO
12	U74900KA2012PTC066627	PENNYFUL ONLINE PRIVATE LIMITED	Additional director	18-12-14	18-12-14	-	Active	NO
13	AAB-5236	DEVI MOOKAMBIKA HOLDINGS LLP	Designated Partner	14-05-13	14-05-13	-	Active	NO
14	AAC-9277	SHUBHAM VENTURES & PROPERTIES LLP	Designated Partner	17-11-14	17-11-14	-	Active	NO

Name :

Mr. Yadalam Adinarayanasetty Subramanyam

Designation :

Director

Address :

Brindavan No. 694, 12^th Cross 7^th Block, Jayanagar, Bangalore – 560082, Karnataka, India.

Date of Birth/Age :

09.02.1952

Date of Appointment :

29.03.1999

DIN No.:

00385664

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	U52393KA1983PTC005194	SUJAYA INVESTMENTS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Active	NO
2	U18201KA1944PTC000340	YADALAM BROTHERS PRIVATE LIMITED	Director	24-06-85	24-06-85	-	Active	NO
3	U52100KA1992PTC012917	SKANDA RETAIL PRIVATE LIMITED	Managing director	09-03-92	09-03-92	04-09-14	Active	NO
4	U85110KA1995PTC016953	RKM TEXTILES PRIVATE LIMITED	Director	12-01-95	12-01-95	-	Active	NO
5	U17111KA1947PTC000450	RAMKUMAR MILLS PRIVATE LIMITED	Director	29-03-99	29-03-99	-	Active	NO
6	U92490KA2001PTC029509	SAMSKRUTA KALAKSHETRA PRIVATE LIMITED	Director	07-09-01	07-09-01	-	Active	NO
7	U55101KA2008PTC045418	GOLDEN TREE HOTELS PRIVATE LIMITED	Director	27-02-08	27-02-08	-	Active	NO
8	U52100KA2011PTC057985	SMART LIVING RETAIL PRIVATE LIMITED	Director	05-04-11	05-04-11	04-09-14	Active	NO

Name :	Mr. Uttamchand Devichand Bhandari
Designation :	Director
Address :	C/O, Devi Chand Misri Mal and company, Chickpet, Bangalore – 560053, Karnataka, India
Date of Birth/Age :	06.05.1924
Date of Appointment :	01.05.1985
DIN No.:	00385819

Name :

Mr. Yadalam Adinarayanasetty Shivakumar

Designation :

Director

Address :

50, 40^th Cross, 8^th Block, Jaynagar, Bangalore – 560082, Karnataka, India

Date of Appointment :

26.02.2014

DIN No.:

00419246

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	U67120KA1983PTC005193	ANISH INVESTMENTS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Active	NO
2	U52100KA1992PTC012917	SKANDA RETAIL PRIVATE LIMITED	Director	25-03-93	25-03-93	04-09-14	Active	NO
3	U85110KA1995PTC016953	RKM TEXTILES PRIVATE LIMITED	Director	05-03-07	05-03-07	-	Active	NO
4	U52100KA2011PTC057985	SMART LIVING RETAIL PRIVATE LIMITED	Director	05-04-11	05-04-11	-	Active	NO
5	U17111KA1947PTC000450	RAMKUMAR MILLS PRIVATE LIMITED	Director	29-09-14	26-02-14	-	Active	NO

Name :

Mr. Lakshman Gangadharasetty Yadalam

Designation :

Director

Address :

45, 39^th Cross, 8^th Block, Jaynagar, Bangalore – 560082, Karnataka, India

Date of Birth/Age :

21.10.1956

Date of Appointment :

26.02.2014

DIN No.:

00458329

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	U67120KA1983PTC005195	SHRADHA HOLDINGS PRIVATE LIMITED	Director	02-03-83	02-03-83	-	Active	NO
2	U18101KA1992PTC012702	LOTUS IT TECHPARK PRIVATE LIMITED	Director	25-03-93	25-03-93	-	Active	NO
3	U85110KA1995PTC016953	RKM TEXTILES PRIVATE LIMITED	Director	05-03-07	05-03-07	-	Active	NO
4	U74900KA2012PTC066627	PENNYFUL ONLINE PRIVATE LIMITED	Director	07-11-12	07-11-12	-	Active	NO
5	U17111KA1947PTC000450	RAMKUMAR MILLS PRIVATE LIMITED	Director	29-09-14	26-02-14	-	Active	NO

KEY EXECUTIVES

Name :	Pramod
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Equity Shares	No. of Redeemable Cumulative Preference
S.Kamalamma (Deceased)	12	--
Thanmal Manaji	40	--
Yadalam Subbaiah Setty Charties	200	--
Uttamchand D Bhandari	75	--
Mangilal Misrimal Jain	57	--
Inderchand	12	--
Y.N. Gangadhar Setty	120	656
Y.G. Ramkumar	1229	7836
Y.R. Ashwin	150	820
Y.G. Giridhar	1279	8109
Y.G. Madhukar	100	547
Y.G. Vijaykumar	1379	8656
Y.G. Kashinath	1379	8656
Lakshman G Yadalam	1372	8607
Y.G. Subbiah Setty	1372	8607
Y.A. Subramanyam	2868	15567
Y.A. Shivkumar	2900	15398
Y.A. Balachandra	2897	15376
Y.R. Rajeshwari	500	--
Y.V. Geetha	500	--
Y.L. Vasanthi	500	--
Y.K. Jyothi	500	--
Y.S. Radhika	500	--
Y.V. Uma	500	--
Y.S. Jayasree	523	--
Y.S. Anitha	500	--
Y.S. Sumana	500	--
Y.G. Ramkumar, Partner YSN.Properties and Investesments	76	--
TOTAL	22040	98835

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	99.00
Other top fifty shareholders	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject undertakes processing activity in respect of own fabric and of fabrics received on job work. The company has also invested in real estate segment.

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS (AS on 31.03.2013)

Particulars	Actual production
Cloth processed (Mtrs) * *	117.11

NOTE: (* * Includes cloth processed on behalf ofThird parties)

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 :

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 :

Information Declined by the management

Bankers :

Andhra Bank, Nr Road Branch, Nr Raod, Bangalore - 560002, Karnataka, India

Facilities :

Secured Loan

31.03.2013

(Rs. in Million)

31.03.2012

(Rs. in Million)

Long-term Borrowings

From Banks

Andhra Bank

Term loan No.3

0.000

2.797

Term loan NO.5

48.304

55.646

Term loan No.6

0.000

3.731

Term loan No.7

0.000

11.000

Transfer to current maturities of long term debts

(10.600)

(19.753)

From Financial Institutions

HDFC Limited

ST AD Loan-Tranche 1

35.335

48.822

ST AD Loan-Tranche 2

53.751

76.607

ST.AD. Loan Tranche 3

0.000

6.368

Transfer to current maturities of long term debts

(16.324)

(15.516)

Short-term borrowings

From Bank

Open Cash Credit - Andhra Bank

204.353

188.032

Total

314.819

357.734

NOTE:

Other Information

Andhra Bank Term loans

Term loans from Andhra Bank, N R Branch, Bangalore is Secured by way of mortgage and first charge on immovable properties Processing Unit and hypothecation of Plant and Machinery, stocks and Book Debts of Processing Unit - guaranteed by two Directors of the company jointly and severally in their personal capacities -

OTHER DETAILS OF SECURED LOANS

Loan no	Loan limit	Rate of Inters (PA)	Installments	Date of maturity
39230035000443/Term loan III	72.00	12.50%	8 Quarterly	31^st March 2013
39230035000459/ Term loan V	663.00	12.50%	25 Quarterly	30^th June 2017
39230035000474/ Term loan VI	47.00	12.50%	30 Quarterly	30^th September 2018
39230035000475/ Term loan VII	158.00	13.50%	33 Monthly	28^th February 2014

HDFC Limited

Secured by way of mortgage of land and buildings of property bearing no. 1/2, Vatal Nagaraj Road, 4th block, Rajaji Nagar, Bangalore - 560010 along with M/s. Sumangala Properties.


Banking Relations :	--

Finance Institute:	Housing Development Finance Corporation Limited, Ramon House 169backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India

Auditors :
Name :	B. K. Ramadhyani and Company Chartered Accountant
Address :	4-B, Chitrapura Bhavan, 68, 8^th Main 15^th Cross, Malleshwaram, Bangalore – 560055, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFB1153G

Memberships :	--

Collaborators :	--

Key Management Personnel and their relatives have significant influence.:	Yadalam Brothers (Private) Limited– Company Sree Krishna Vijay Corporation – Firm Sumangala Properties - Firm Golden Tree Hotels Private Limited. – Company Yadalam A. Subramanyam and Company – Firm Giri Holding Private Limited

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

80000	Equity Shares	Rs.500/- each	Rs. 40.000 Millions
200000	Redeemable Preference Shares	Rs.100/- each	Rs. 20.000 Millions
	TOTAL		Rs. 60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

22040	Equity Shares	Rs.500/- each	Rs. 11.020 Millions
98835	Redeemable Preference Shares	Rs.100/- each	Rs. 9.884 Millions
	TOTAL		Rs. 20.904 Millions

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.904	20.904	20.904
(b) Reserves & Surplus	138.714	113.013	110.763
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	8.828	8.828	8.828
Total Shareholders’ Funds (1) + (2)	168.446	142.745	140.495

(3) Non-Current Liabilities
(a) long-term borrowings	232.083	267.912	301.102
(b) Deferred tax liabilities (Net)	0.873	3.011	2.433
(c) Other long term liabilities	15.735	37.372	31.172
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	248.691	308.295	334.707

(4) Current Liabilities
(a) Short term borrowings	204.353	188.032	200.366
(b) Trade payables	75.709	60.879	81.102
(c) Other current liabilities	36.415	48.091	54.536
(d) Short-term provisions	0.012	0.016	0.020
Total Current Liabilities (4)	316.489	297.018	336.024

TOTAL	733.626	748.058	811.226

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	286.161	263.870	223.744
(ii) Intangible Assets	0.314	0.637	0.960
(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	51.512	142.443	207.979
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	18.597	16.191	12.161
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	356.584	423.141	444.844

(2) Current assets
(a) Current investments	213.874	199.484	0.000
(b) Inventories	85.035	61.879	236.590
(c) Trade receivables	55.611	43.021	70.097
(d) Cash and cash equivalents	13.890	9.934	33.967
(e) Short-term loans and advances	8.632	10.599	16.007
(f) Other current assets	0.000	0.000	9.721
Total Current Assets	377.042	324.917	366.382

TOTAL	733.626	748.058	811.226

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Sales Turnover	881.600	875.100	918.600
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA

Less	EXPENSES	NA	NA	NA

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	115.567	88.100

Less	FINANCIAL EXPENSES	44.618	45.912

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	70.949	42.188	NA

Less/ Add	DEPRECIATION/ AMORTISATION	35.332	37.991

	PROFIT/ (LOSS) BEFORE TAX	35.617	4.197

Less	TAX	4.712	1.377

	PROFIT/ (LOSS) AFTER TAX	30.905	2.820	(2.535)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	31.105	28.285	NA

	Balance Carried to the B/S	62.010	31.105	NA

	Earnings / (Loss) Per Share (Rs.)	255.68	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	3.51	0.32	(0.28)

Operating Profit Margin (PBIDT/Sales)	(%)	13.11	10.07	NA

Return on Total Assets (PBT/Total Assets}	(%)	5.22	0.69	NA

Return on Investment (ROI) (PBT/Networth)		0.21	0.03	NA

Debt Equity Ratio (Total Debt /Networth)		2.59	3.19	3.57

Current Ratio (Current Asset/Current Liability)		1.19	1.09	1.09

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	20.904	20.904	20.904
Reserves & Surplus	110.763	113.013	138.714
Share Application money pending allotment	8.828	8.820	8.828
Net worth	140.495	142.737	168.446

long-term borrowings	301.102	267.912	232.083
Short term borrowings	200.366	188.032	204.353
Total borrowings	501.468	455.944	436.436
Debt/Equity ratio	3.569	3.194	2.591

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales Turnover	918.600	875.100	881.600
		(4.735)	0.743

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales Turnover	918.600	875.100	881.600
Profit	(2.535)	2.820	30.905
	(0.28%)	0.32%	3.51%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS

The Company has achieved a Sales Turnover of Rs.881.600 Millions for the year ended 31st March 2013 as against Rs. 875.100 Millions. during the previous year, a marginal increase over the previous year. Even though it has been a challenging year for .the textile industry in India, the Company has strived hard to achieve a slightly higher turnover as compared to the previous year. On a positive note the Company achieved its highest ever export turnover of RS.163.600 Millions. in the current year.

COMPANY BACKGROUND

Subject was incorporated in the year 1947 and is located at Rajajinagar, Bangalore. The company undertakes processing activity in respect of own fabric and of fabrics received on job work. The company has also invested in real estate segment and has developed "Golden Heights" at Rajaji Nagar, Bangalore jointly with a partnership firm a related party.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Million)	31.03.2012 (Rs. in Million)
Long-term Borrowings
Deposits from related parties
Directors	29.421	16.720
Shareholders	67.650	63.2000
loans and Advances from related Parties
Directors	3.788	4.095
Shareholders	10.258	11.195
Inter corporate loan	10.500	3.000
Total	121.617	98.21
NOTE: Unsecured loans and deposits are from the Directors and Shareholders which are borrowed due to business exigencies. There are no specific stipulations for repayment and deposits carry an interest of 12% per annum.

INDEX OF CHARGES

NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10491408	28/02/2014	365,000,000.00	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, IND IA	C02171593
2	10260414	14/11/2013 *	250,000,000.00	ANDHRA BANK	NR ROAD BRANCH, NR ROAD, BANGALORE, KARNATAKA - 5 60002, INDIA	B91012518
3	10144562	28/01/2009	40,000,000.00	ANDHRA BANK	N R ROAD, BANGALORE, KARNATAKA - 560002, INDIA	A57687394
4	10044597	15/12/2010 *	79,500,000.00	ANDHRA BANK	N R ROAD, BANGALORE, KARNATAKA - 560002, INDIA	B01608538
5	80020490	20/07/2012 *	170,000,000.00	ANDHRA BANK	NR ROAD BRANCH, NR RAOD, BANGALORE, KARNATAKA - 5 60002, INDIA	B44655140
6	80055435	21/05/2012 *	25,000,000.00	ANDHRA BANK	N R ROAD, BANGALORE, KARNATAKA - 560002, INDIA	B41608175
7	80055433	02/08/2011 *	15,000,000.00	ANDHRA BANK	N. R. ROAD, BANGALORE, KARNATAKA - 560002, INDIA	B17743162

* Date of charge modification

CONTINGENT LIABILITIES: (AS ON 31.03.2013)

a. Disputed claims against the Company but not acknowledged as debts estimated amount Rs. 9.708 (Rs. 9.708) Millions. Outflow of resources including the amount thereof will depend on disposal of the Company's appeal pending in the court of jurisdiction.

b. Liability on account of dividend on cumulative preference share. Rs. NIL(Rs. 2.669 Millions)

c. The Company has given a corporate guarantee to HDFC Ltd. in respect of the loan sanctioned for the Golden Heights Project. The corporate guarantee is for a total amount Rs.650.000 Millions and includes the amount sanctioned to Sumangala Properties. The corresponding liability of Sumangala Properties outstanding as at 31.03.2013 Ra.279.408 (Rs. 397.193) Millions. Outflow of resources is considered unlikely.

d. The Company had given a corporate guarantee to Andhra Bank in respect of the loan sanctioned for the Golden Tree Hotels Private Limited, Bangalore-10. The corporate guarantee is for a total amount of RS.24.00 crores. The liability has be cleared by GTH in April 2012 and out standing as on 31march 2013 is NIL(Rs. 122.819) Millions. The above corporate guarantee has been extinguished during April 2012.

e. The Company had given a corporate guarantee to The Lakshmi Vilas Bank Limited., in respect of the loan sanctioned to M/s.5umangala Properties, Bangalore-l0. The corporate guarantee is for a total amount of Rs.150.000 Millions. The corresponding liability of 5umangala Properties outstanding as at 31.03.2013 is NIL (Rs. 106.392 ) Millions. The Corporate guarantee has been closed during June 2012.

FIXED ASSETS

Tangible Assets

Land
Building
Plant and Machinery
Furniture and Fixture
Office Equipments
Motor Vehicles

Intangible Assets

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 records 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 records 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.61.79
UK Pound	1	Rs.95.42
Euro	1	Rs.69.29

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	SUM

Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
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	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	YES
--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.