MIRA INFORM REPORT

Report No. :	313486
Report Date :	21.03.2015

IDENTIFICATION DETAILS

Name :	LUMINO INDUSTRIES LIMITED
Registered Office :	307, Swaika Centre, 4^th Floor, 4A, Pollock Street, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.03.2005
Com. Reg. No.:	102556
Capital Investment / Paid-up Capital :	Rs. 304.425 Million
CIN No.: [Company Identification No.]	U14293WB2005PLC102556
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALL01667B
PAN No.: [Permanent Account No.]	AABCL0720E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of conductors, including All-Aluminium Conductors (AAC), All-Alloy Aluminium Conductors (AAAC), Aluminium Conductors Steel Reinforced (ACSR), and Copper Conductors.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. However, trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 Rating: BBB
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	December 09, 2014

Rating Agency Name	CRISIL
Rating	Short Term Rating: A3+
Rating Explanation	Have moderate degree of safety and carry higher credit risk.
Date	December 09, 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 31-03-2014.

INFORMATION DENIED

Management Non co-operative (91-33-22353263 / 22829201)

LOCATIONS

Registered Office :	307, Swaika Centre, 4^th Floor, 4A, Pollock Street, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-22353263/ 22357593
Fax No.:	91-33-22152923
E-Mail :	devendra@lasercables.com lumino@lasercables.com
Website :	http://luminoindustries.com
Location:	Owned
Corporate Office :	“Usha Kiran”, 12A, Camac Street, Room No.5, 5^th Floor, Kolkata – 700 017, West Bengal, India
Tel. No.:	91-33-22829201 (5 lines)
Fax No.:	91-33-22829206
E-Mail :	lumino@lasercables.com
Factory :	At/PO: Biprannapara, Jalan Complex, P.S.: Domjur, Howrah – 711 411, West Bengal, India
Tel. No.:	91-33-26692420/ 65290333
Fax No.:	91-33-26692471

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Deepak Goel

Designation :

Whole-time Director

Address :

4, Alipore Park Place, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

20.02.1969

Qualification :

B. Com

Date of Appointment :

01.01.2014

Pan No. :

ADGPG4399H

DIN No.:

00673430

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	U14220WB1988PTC043591	LASER CABLES PRIVATE LIMITED	Director	17/01/1988	17/01/1988	-	Active	NO
2	U51505WB1990PTC048881	SIGMA SALES PRIVATE LIMITED	Director	20/04/1990	20/04/1990	16/07/2010	Active	NO
3	U17119GJ1993PTC020467	LASER SYNTHETICS PRIVATE LIMITED	Director	19/10/1993	19/10/1993	28/01/2009	Active	NO
4	U14200WB1997PTC085933	LASER ELECTRICAL INDUSTRIES PRIVATE LIMITED	Director	19/11/1997	19/11/1997	24/10/2013	Active	NO
5	U17119GJ2003PTC043137	LASER FILAMENT PRIVATE LIMITED	Director	04/11/2003	04/11/2003	28/10/2007	Active	NO
6	U14293WB2005PLC102556	LUMINO INDUSTRIES LIMITED	Managing director	01/01/2014	30/03/2005	-	Active	NO
7	U27203WB2005PLC104710	LASER ALUMINIUM COMPANY LIMITED	Director	01/09/2005	01/09/2005	-	Amalgamated	NO
8	U45309WB2006PTC109399	SHANTINIKETAN INFRASTURUCTURE PRIVATE LIMITED	Director	10/11/2006	10/11/2006	26/06/2008	Active	NO
9	U45200WB2006PTC111909	SRI SHYAM PROJECTS PRIVATE LIMITED	Director	23/11/2006	23/11/2006	-	Active	NO
10	U70200WB2010PTC151407	LAL DASS PROPERTIES PRIVATE LIMITED	Director	19/07/2010	19/07/2010	18/08/2010	Active	NO
11	U40105WB2010PLC151600	LUMINO POWER INFRASTRUCTURE LIMITED	Director	23/07/2010	23/07/2010	-	Active	NO
12	U70200WB2010PTC152128	DRP REALTORS PRIVATE LIMITED	Director	10/08/2010	10/08/2010	18/08/2010	Active	NO
13	U51909WB2010PTC148117	ASTRA VINIMAY PRIVATE LIMITED	Director	07/06/2011	07/06/2011	23/10/2013	Active	NO
14	U51109WB2005PTC102428	SANATAN VINIMAY PRIVATE LIMITED	Director	29/09/2011	07/06/2011	23/10/2013	Active	NO
15	U51101WB2010PTC148261	BARDEN AGENCIES PRIVATE LIMITED	Director	07/06/2011	07/06/2011	23/10/2013	Active	NO

Name :

Mr. Devendra Goel

Designation :

Director

Address :

1b, Mayfair Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

21.10.1972

Qualification :

B.Com

Date of Appointment :

04.04.2005

Pan No. :

ADGPG4397K

DIN No.:

00673447

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	U14220WB1988PTC043591	LASER CABLES PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
2	U17119GJ1993PTC020467	LASER SYNTHETICS PRIVATE LIMITED	Director	30/11/1993	30/11/1993	28/01/2009	Active	NO
3	U70101WB1995PTC074562	PULKIT PROPERTIES PRIVATE LIMITED	Director	27/09/1995	27/09/1995	-	Active	NO
4	U70101WB1995PTC074563	DEVENDRA CONSTRUCTION PRIVATE LIMITED	Director	27/09/1995	27/09/1995	01/04/2012	Active	NO
5	U14200WB1997PTC085933	LASER ELECTRICAL INDUSTRIES PRIVATE LIMITED	Director	19/11/1997	19/11/1997	25/10/2013	Active	NO
6	U51909WB1995PTC070180	JALSAGAR SALES AGENCY PRIVATE LIMITED	Director	01/06/1999	01/06/1999	01/10/2013	Active	NO
7	U17119GJ2003PTC043137	LASER FILAMENT PRIVATE LIMITED	Director	04/11/2003	04/11/2003	28/10/2007	Active	NO
8	U70101WB1987PTC042427	GENUINE REAL ESTATES PRIVATE LIMITED	Director	12/03/2005	12/03/2005	-	Active	NO
9	U67120WB1992PTC056195	DRP TRADING AND INVESTMENT PRIVATE LIMITED	Director	18/03/2005	18/03/2005	01/10/2013	Active	NO
10	U14293WB2005PLC102556	LUMINO INDUSTRIES LIMITED	Director	04/04/2005	04/04/2005	-	Active	NO
11	U27203WB2005PLC104710	LASER ALUMINIUM COMPANY LIMITED	Director	01/09/2005	01/09/2005	-	Amalgamated	NO
12	U70109WB1991PTC052778	IN STYLE FARMS PRIVATE LIMITED	Director	23/12/2005	23/12/2005	-	Active	NO
13	U45200WB2007PTC112794	RAMKRISHNA INFRASTRUCTURE PRIVATE LIMITED	Director	25/01/2007	25/01/2007	-	Active	NO
14	U25203WB2007PTC115392	SHRISHYAMNIKETAN PROJECTS PRIVATE LIMITED	Director	27/04/2007	27/04/2007	11/01/2011	Active	NO
15	U45400WB2007PTC120547	UNIQUE HEIGHTS PRIVATE LIMITED	Director	12/12/2007	12/12/2007	-	Active	NO
16	U51909WB2008PTC127889	JBLD TRADING PRIVATE LIMITED	Director	25/07/2008	25/07/2008	31/08/2010	Active	NO
17	U80301AS2009PTC009047	NORTH EASTERN EDUCARE AND RESEARCH PRIVATE LIMITED	Director	29/09/2010	05/06/2009	-	Active	NO
18	U74900WB2009PTC139269	AAYUSH-PRATIK DEALCOMM PRIVATE LIMITED	Director	09/11/2009	09/11/2009	-	Active	NO
19	U70200WB2010PTC151407	LAL DASS PROPERTIES PRIVATE LIMITED	Director	19/07/2010	19/07/2010	31/08/2010	Active	NO
20	U40105WB2010PLC151600	LUMINO POWER INFRASTRUCTURE LIMITED	Director	23/07/2010	23/07/2010	-	Active	NO
21	U70200WB2010PTC152128	DRP REALTORS PRIVATE LIMITED	Director	10/08/2010	10/08/2010	31/08/2010	Active	NO
22	U70109WB2010PTC155049	D.S. DEVELOPERS PRIVATE LIMITED	Director	26/11/2010	26/11/2010	-	Active	NO
23	U51909WB2007PTC119092	EMBASSY VYAPAAR PRIVATE LIMITED.	Director	29/09/2011	02/12/2010	23/10/2013	Active	NO
24	U51101WB2010PTC143823	KASAUTI DEALTRADE PRIVATE LIMITED	Director	15/09/2011	06/01/2011	23/10/2013	Active	NO
25	U52190WB2009PTC139093	HAWK SALES PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
26	U52190WB2009PTC139055	SUNRISE E-SERVICES PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
27	U52190WB2009PTC139126	READY CONSTRUCTION PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
28	U51909WB2008PTC129368	VIDULA AGENCY PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
29	U52190WB2009PTC139116	RELINE DEVELOPERS PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
30	U52300WB2009PTC139092	ORBIT MERCHANT PRIVATE LIMITED	Director	22/11/2011	11/02/2011	-	Active	NO
31	U51109WB2005PTC102428	SANATAN VINIMAY PRIVATE LIMITED	Director	29/09/2011	07/06/2011	25/10/2013	Active	NO
32	U51909WB2010PTC148117	ASTRA VINIMAY PRIVATE LIMITED	Director	07/06/2011	07/06/2011	25/10/2013	Active	NO
33	U51101WB2010PTC148261	BARDEN AGENCIES PRIVATE LIMITED	Director	07/06/2011	07/06/2011	25/10/2013	Active	NO

Name :

Mr. Akshat Goel

Designation :

Director

Address :

4, Alipore Park Place, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

16.10.1994

Date of Appointment :

30.09.2013

DIN No. :

06465043

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	U14293WB2005PLC102556	LUMINO INDUSTRIES LIMITED	Director	30/09/2013	31/12/2012	19/10/2013	Active	NO
2	U51909WB2004PTC099531	ADISHWAR TRADE LINK PRIVATE LIMITED	Director	22/09/2014	22/10/2013	-	Active	NO
3	U51909WB2010PTC148117	ASTRA VINIMAY PRIVATE LIMITED	Director	24/09/2014	23/10/2013	-	Active	NO
4	U51101WB2010PTC143823	KASAUTI DEALTRADE PRIVATE LIMITED	Director	24/09/2014	23/10/2013	-	Active	NO
5	U70109WB2011PTC166294	HARMONY INFRABUILD PRIVATE LIMITED	Director	24/09/2014	23/10/2013	-	Active	NO
6	U70109WB2011PTC166608	AASHEESH REALTY PROJECTS PRIVATE LIMITED	Director	24/09/2014	23/10/2013	-	Active	NO
7	U51101WB2010PTC148261	BARDEN AGENCIES PRIVATE LIMITED	Director	24/09/2014	23/10/2013	-	Active	NO
8	U51109WB2005PTC102428	SANATAN VINIMAY PRIVATE LIMITED	Director	24/09/2014	23/10/2013	-	Active	NO
9	U45400WB2010PTC154153	GOEL PROPCON PRIVATE LIMITED	Director	23/09/2014	23/10/2013	-	Active	NO
10	U70102WB2013PTC195103	NAVNIRMAN BUILDWELL PRIVATE LIMITED	Director	23/09/2014	23/10/2013	-	Active	NO
11	U45400WB2010PTC154147	SHANTI INFRABUILD PRIVATE LIMITED	Director	23/09/2014	23/10/2013	-	Active	NO
12	U70102WB2010PTC152807	LAKSHYA PROPERTIES PRIVATE LIMITED	Director	23/09/2014	23/10/2013	-	Active	NO
13	U70102WB2010PTC152835	NEWLEAF REALTORS PRIVATE LIMITED	Director	23/09/2014	23/10/2013	-	Active	NO
14	U70200WB2010PTC152812	SHANTI INFRA DEVELOPMENT PRIVATE LIMITED	Director	23/09/2014	23/10/2013	-	Active	NO
15	U51909WB2007PTC119092	EMBASSY VYAPAAR PRIVATE LIMITED.	Director	24/09/2014	23/10/2013	-	Active	NO
16	U70102WB2013PTC195102	VIBHUTI REALTY PROJECTS PRIVATE LIMITED	Additional director	23/10/2013	23/10/2013	11/08/2014	Active	NO
17	U70102WB2010PTC152818	AKSHAT BUILDERS PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
18	U51909WB2008PTC127889	JBLD TRADING PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
19	U51109WB2008PTC126675	LIFELINE COMMOTRADE PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
20	U74120WB2007PTC119463	REGAL FINANCIAL ADVISORY PRIVATE LIMITED.	Director	22/09/2014	24/10/2013	-	Active	NO
21	U51109WB2008PTC121837	SIGMA VYAPAAR PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
22	U51109WB2005PTC105654	WELKON GOODS PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
23	U70102WB2010PTC152806	GOEL BUILDCON PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
24	U70200WB2010PTC151407	LAL DASS PROPERTIES PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
25	U14200WB1997PTC085933	LASER ELECTRICAL INDUSTRIES PRIVATE LIMITED	Director	22/09/2014	24/10/2013	-	Active	NO
26	U70100WB2010PTC152803	DEVESH BUILDCON PRIVATE LIMITED	Director	23/09/2014	24/10/2013	-	Active	NO
27	U70200WB2010PTC152128	DRP REALTORS PRIVATE LIMITED	Director	23/09/2014	24/10/2013	-	Active	NO
28	U70101WB2010PTC152996	LASER DEVELOPERS PRIVATE LIMITED	Director	23/09/2014	24/10/2013	-	Active	NO
29	U70102WB2010PTC152902	LUMINO PROPERTIES PRIVATE LIMITED	Director	23/09/2014	24/10/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Soumesh Roy
Designation :	Commercial Manager
Name :	Mrs. Puja Mohan
Designation :	Secretary
Address :	201, NSC Bose Road, Kolkata – 700 040, West Bengal, India
Date of Appointment :	01.08.2011
PAN No.:	AYBPP0136D

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Deepak Goel	1349500
Shanti Devi Goel	1032000
Purushottam Dass Goel	389500
Rashmi Goel	90000
Devendra Goel	1331500
Rakhi Goel	72000
Sangeeta Terkriwal	600
Jalsagar Sales Agency Private Limited, India	8830000
DRP Trading and Investments Private Limited, India	2523000
Laser Electrical Industries Private Limited, India	3740000
Malina Daw	100
Laser Cables Private Limited, India	4290000
Sigma Vyapaar Private Limited, India	1518300
Adishwar Trade Link Private Limited, India	2607000
Welkon Goods Private Limited, India	2500000
Embassy Vyapaar Private Limited, India	10000
Regal Financial Advisory Private Limited, India	99000
Sanatan Vinimay Private Limited, India	60000
Total	30442500

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	85.99
Directors or relatives of Directors	14.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of conductors, including All-Aluminium Conductors (AAC), All-Alloy Aluminium Conductors (AAAC), Aluminium Conductors Steel Reinforced (ACSR), and Copper Conductors.

Products :

Item Code No. (ITC Code)	Product Description
76144008	Aluminium Products
99870000	EPC Projects

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Canara Bank
Branch Address	Prime Corporate branch, Bells House, Kolkata – 700016, West Bengal, 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

• Bank of Baroda, Alipore Branch, Gopal Nagar Road, Kolkata – 700027, West Bengal, India

• Andra Bank, Kolkata Main Branch, Kolkata – 700001, West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loan Taken from Fixed Assets	0.000	0.973
SHORT TERM BORROWINGS
Loans repayable on demand from Banks	293.291	517.031
Total	293.291	518.004

Statutory Auditors :
Name :	SDP and Associates Chartered Accountants
Address :	46C, Chowringhee Road, Everest House, Flat No.14G, Kolkata – 700 071, West Bengal, India
PAN No.:	AARFS4093A
Cost Auditors :
Name :	B. Ray and Associates Chartered Accountants
Memberships :	Not Available
Collaborators :	Not Available
Associates:	Lumino Power Infrastructure Limited

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
31000000	Equity Shares	Rs.10/- each	Rs.310.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30442500	Equity Shares	Rs.10/- each	Rs.304.425 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	304.425	304.425	304.425
(b) Reserves & Surplus	728.820	671.046	622.228
(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)	1033.245	975.471	926.653
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.973	61.665
(b) Deferred tax liabilities (Net)	0.000	0.000	0.312
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.185	0.834	0.543
Total Non-current Liabilities (3)	1.185	1.807	62.520
(4) Current Liabilities
(a) Short term borrowings	393.291	850.764	598.880
(b) Trade payables	988.509	442.377	548.861
(c) Other current liabilities	119.787	108.093	54.961
(d) Short-term provisions	19.313	16.525	18.915
Total Current Liabilities (4)	1520.900	1417.759	1221.617
TOTAL	2555.330	2395.037	2210.790
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	33.248	23.278	26.864
(ii) Intangible Assets	0.065	0.077	0.090
(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	46.844	10.719	9.969
(c) Deferred tax assets (net)	0.512	-0.030	0.000
(d) Long-term Loan and Advances	2.611	1.973	1.694
(e) Other Non-current assets	40.924	164.490	0.000
Total Non-Current Assets	124.204	200.507	38.617
(2) Current assets
(a) Current investments	15.500	0.000	0.000
(b) Inventories	389.834	233.766	256.616
(c) Trade receivables	1300.246	1470.187	1518.169
(d) Cash and cash equivalents	344.456	172.606	263.358
(e) Short-term loans and advances	326.959	195.986	91.848
(f) Other current assets	54.131	121.985	42.182
Total Current Assets	2431.126	2194.530	2172.173
TOTAL	2555.330	2395.037	2210.790

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2938.937	2743.464	3066.263
	Other Income	59.915	36.368	32.609
	TOTAL (A)	2998.852	2779.832	3098.872
Less	EXPENSES
	Cost of Materials Consumed	2067.052	1751.059	1656.572
	Purchases of Stock-in-Trade	276.320	472.716	656.529
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(68.514)	(30.706)	122.305
	Employees benefits expense	42.585	33.880	29.513
	Other expenses	384.679	385.033	403.518
	TOTAL (B)	2702.122	2611.982	2868.437
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	296.730	167.850	230.435
Less	FINANCIAL EXPENSES (D)	203.674	87.710	110.259
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	93.056	80.140	120.176
Less/ Add	DEPRECIATION/ AMORTISATION (F)	5.920	5.552	4.753
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	87.136	74.588	115.423
Less	TAX (H)	29.258	25.733	39.901
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	57.878	48.855	75.522
	EARNINGS IN FOREIGN CURRENCY	358.381	372.147	475.187
	Earnings / (Loss) Per Share (Rs.)	1.90	1.60	2.68

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.97	1.78	2.46
Operating Profit Margin (PBDIT/Sales)	(%)	10.10	6.12	7.52
Return on Total Assets (PBT/Total Assets}	(%)	3.47	3.13	5.24
Return on Investment (ROI) (PBT/Networth)		0.08	0.08	0.12
Debt Equity Ratio (Total Debt /Networth)		0.38	0.87	0.71
Current Ratio (Current Asset/Current Liability)		1.60	1.55	1.78

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	304.425	304.425	304.425
Reserves & Surplus	622.228	671.046	728.820
Net worth	926.653	975.471	1033.245
long-term borrowings	61.665	0.973	0.000
Short term borrowings	598.880	850.764	393.291
Total borrowings	660.545	851.737	393.291
Debt/Equity ratio	0.713	0.873	0.381

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	3066.263	2743.464	2938.937
		-10.527	7.125

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	3066.263	2743.464	2938.937
Profit	75.522	48.855	57.878
	2.46%	1.78%	1.97%

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	No
10]	Designation of contact person	No
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	Yes
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	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10490016	16/05/2014	40,000,000.00	BANK OF BARODA	ALIPORE BRANCH, 38/1 E, GOPAL NAGAR ROAD, KOLKATA, WEST BENGAL - 700027, INDIA	C03604881
2	10365210	27/06/2012	1,973,800,000.00	CANARA BANK	PRIME CORPORATE BRANCH, BELLS HOUSE, 21 CAMAC STREET, GROUND FLOOR, KOLKATA, WEST BENGAL - 700016,  INDIA	B43509348
3	10161558	23/10/2010 *	529,500,000.00	ANDHRA BANK	KOLKATA MAIN BRANCH, 14/1B, EZRA STREET, KOLKATA,  WEST BENGAL - 700001, INDIA	A98181548
4	10070873	20/08/2007	212,600,000.00	BANK OF BARODA	ALIPORE BRANCH, 38/1E, GOPAL NAGAR ROAD, KOLKATA, WEST BENGAL - 700027, INDIA	A24179210
5	10084115	31/03/2007	40,000,000.00	BANK OF BARODA	ALIPORE BRANCH, 38/1E,GOPAL NAGAR ROAD, KOLKATA,  WEST BENGAL - 700027, INDIA	A15001621
6	10018705	23/07/2009 *	1,259,600,000.00	BANK OF BARODA	ALIPORE BRANCH, 38/1 E, GOPAL NAGAR ROAD, KOLKATA, WEST BENGAL - 700027, INDIA	A69509214
7	90255438	10/01/2011 *	3,530,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH, BELLS HOUSE, 21 CAMAC STREET, GROUND FLOOR, KOLKATA, WEST BENGAL - 700016, INDIA	B03530755

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Other Loans and Advances	100.000	333.733
Total	100.000	333.733

FIXED ASSETS

• Buildings
• Factory building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Motor vehicles
• Office equipment
• Computer Equipments

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. 62.49
UK Pound	1	Rs. 92.26
Euro	1	Rs. 66.80

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUB
Report Prepared by :	TRU

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	6
--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	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		50

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.