MIRA INFORM REPORT

Report No. :	319314
Report Date :	06.05.2015

IDENTIFICATION DETAILS

Name :	TATA AUTOCOMP GY BATTERIES PRIVATE LIMITED (w.e.f. 17.04.2015)
Formerly Known as :	TATA AUTOCOMP GY BATTERIES LIMITED (w.e.f. 24.02.2009) TGY BATTERIES PRIVATE LIMITED
Registered Office :	Taco House, Damle Path, Offla College Road, Erandwane, Pune – 411004, Maharashtra
Tel No :	91-20-66085000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.10.2005
Com. Reg. No.:	11-021394
Capital Investment / Paid-up Capital :	Rs. 1375.000 Million
CIN No.: [Company Identification No.]	U31300PN2005PTC021394
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PNET05710F
PAN No.: [Permanent Account No.]	AACCT3396H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Supplier and Dealer of Automation Batteries like Car Battery, Motorcycle Batteries, Inverter Batteries, UPS Batteries, Two Wheeler Batteries.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 750000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a Joint Venture between “Tata Autocomp Systems Ltd” and G S Yuasa International Ltd Japan It is an established company having satisfactory track record. The company is continuously incurring heavy losses from its operational activities however, the company receives strong managerial and financial support from its joint venture entities. Trade relations are reported as fair. Business is active. Payments 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	Moderate degree of safety and carry moderate credit risk.
Date	03.07.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating (A3+)
Rating Explanation	Moderate degree of safety and carry higher credit risk.
Date	03.07.2014

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.

LOCATIONS

Registered Office :	Taco House, Damle Path, Offla College Road, Erandwane, Pune – 411004, Maharashtra, India
Tel No :	91-20-66085000
E-Mail :	Roopali.pathak@tatagreenbattery.com
Distributor office :	Plot C2, MIDC Ranjangaon, Pune – 412209, India

DIRECTORS

As on : 26.09.2014

Name :

Mr. Toru Bomoto

Designation :

Director

Address :

9 – 24 - 23, Kamirenjak U Mitaka, Tokyo – 1810012, Japan

Date of Birth/Age :

31.10.1952

Date of Appointment :

21.06.2010

DIN No.:

02889125

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	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Director	21/06/2010	24/12/2009	-	Active	NO

Name :

Mr. Guruvinderjit Samra Singh

Designation :

Director

Address :

1002, Silver Cascade Mount Mary, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

22.05.1977

Date of Appointment :

19.07.2012

DIN No.:

03213725

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	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Director	19/07/2012	19/10/2011	24/09/2014	Active	NO

Name :

Mr. Satish Bhaskar Pradhan

Designation :

Director

Address :

191/194 Clover Water Gardens, Plot No. 69, Kalayani Nagar, Pune – 411014, Maharashtra, India

Date of Birth/Age :

04.01.1955

Date of Appointment :

17.07.2009

DIN No.:

00175969

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	U29100PN2000PLC130290	TAL MANUFACTURING SOLUTIONS LIMITED	Director	08/08/2001	08/08/2001	-	Active	NO
2	U34100MH1995PLC093733	TATA AUTOCOMP SYSTEMS LIMITED	Director	03/05/2002	03/05/2002	-	Active	NO
3	L28932PN1990PLC016314	AUTOMOTIVE STAMPINGS AND ASSEMBLIES LIMITED	Director	08/05/2002	08/05/2002	20/03/2008	Active	NO
4	U51900MH2006PLC159776	COMPUTATIONAL RESEARCH LABORATORIES LIMITED	Director	06/08/2007	14/07/2006	28/08/2012	Amalgamated	NO
5	U51909MH1957PLC010942	TATA SERVICES LIMITED	Director	28/09/2006	28/09/2006	-	Active	NO
6	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Director	17/07/2009	26/03/2009	-	Active	NO
7	U74999DL2006NPL146962	ACCESS DEVELOPMENT SERVICES	Additional director	25/10/2013	25/10/2013	-	Active	NO
8	U74990MH2008NPL189067	NATIONAL PAYMENTS CORPORATION OF INDIA	Additional director	04/03/2015	04/03/2015	-	Active	NO

Name :

Mr. Hitoshi Inazumi

Designation :

Whole Time Director

Address :

Flat No. 502, Casaurina Building, Marigold, Kalyani Nagar, Pune – 411014, Maharashtra, India

Date of Birth/Age :

03.11.1954

Date of Appointment :

19.06.2014

DIN No.:

03075026

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	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Whole-time director	19/06/2014	16/05/2010	-	Active	NO

Name :

Mr. Ichiro Hatanaka

Designation :

Whole Time Director

Address :

Flat No. 401, Pecan Building, Marigold, Kalyani Nagar, Pune – 411014, Maharashtra, India

Date of Birth/Age :

17.04.1956

Date of Appointment :

01.01.2015

DIN No.:

05156287

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	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Whole-time director	01/01/2015	01/01/2012	-	Active	NO

Name :

Mr. Ajay Hari Tondon

Designation :

Director

Address :

s. No. 130/132 rosel and 11 Pim Saudagar Raw House 93, Pune – 411027, Maharashtra, India

Date of Birth/Age :

07.01.1959

Date of Appointment :

11.07.2014

DIN No.:

00128667

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	U31902PN2005PTC020905	VISTEON AUTOMOTIVE (INDIA) PRIVATE LIMITED	Additional director	10/04/2008	10/04/2008	15/02/2010	Active	NO
2	U74999MH1998PTC112992	TATA FICOSA AUTOMOTIVE SYSTEMS Private Limited	Director	29/09/2008	10/04/2008	20/09/2013	Active	NO
3	U32109PN2005PTC020334	Trimble Mobility Solutions India Private Limited	Director	29/12/2008	10/04/2008	14/12/2010	Active	NO
4	U34300PN1996PLC015038	JOHNSON CONTROLS AUTOMOTIVE LIMITED	Director	29/09/2008	12/04/2008	25/03/2013	Active	NO
5	U32109PN2007PLC129527	TACO SASKEN AUTOMOTIVE ELECTRONICS LIMITED	Director	16/07/2008	29/04/2008	25/12/2008	Under liquidation	NO
6	U29299PN2008PLC132935	ISRI JC AUTOMOTIVE SEATING LIMITED	Director	08/04/2009	16/10/2008	21/03/2013	Active	NO
7	U28910TN1997PLC047905	SUNGWOO HITECH INDIA LIMITED	Nominee director	25/12/2008	25/12/2008	04/02/2009	Active	NO
8	U29299PN2005PTC020907	Visteon Engineering Center (India) Private Limited	Director	04/09/2009	01/09/2009	15/02/2010	Active	NO
9	U34300PN2000PLC015253	TACO Composites Limited	Director	06/06/2010	04/05/2010	-	Amalgamated	NO
10	L28932PN1990PLC016314	AUTOMOTIVE STAMPINGS AND ASSEMBLIES LIMITED	Director	17/07/2012	27/07/2011	-	Active	NO
11	U34300PN1997PTC015436	YAZAKI INDIA Private Limited	Additional director	31/07/2012	31/07/2012	11/01/2013	Active	NO
12	U80903PN2012NPL145231	AUTOMOTIVE SKILLS TRAINING FOUNDATION	Additional director	29/11/2012	29/11/2012	16/09/2013	Active	NO
13	U34100MH1995PLC093733	TATA AUTOCOMP SYSTEMS LIMITED	Managing director	12/09/2014	06/09/2013	-	Active	NO
14	U99999PN1997PLC110139	TATA TOYO RADIATOR LIMITED	Director	06/06/2014	20/09/2013	-	Active	NO
15	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Director	11/07/2014	20/09/2013	-	Active	NO
16	U34100PN2015PTC154431	TM Automotive Seating Systems Private Limited	Director	20/03/2015	20/03/2015	-	Active	NO

Name :

Mr. Haris Girish Pathak

Designation :

Director

Address :

C – 17, The Woods NR Kalewadi Phatta Wakad, Pune – 411027, Maharashtra, India

Date of Birth/Age :

30.12.1958

Date of Appointment :

11.07.2014

DIN No.:

02426760

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	U45209PN2005PLC020270	Tata BlueScope Steel Limited	Whole-time director	01/09/2013	15/07/2008	31/10/2013	Active	NO
2	U51109PN2013PTC148668	Tracto Metal Private Limited	Director	02/09/2013	02/09/2013	-	Active	NO
3	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Director	11/07/2014	14/11/2013	-	Active	NO
4	U74999MH1998PTC112992	TATA FICOSA AUTOMOTIVE SYSTEMS Private Limited	Director	16/07/2014	04/01/2014	-	Active	NO

Name :

Mr. Hiroyuki Motoyama

Designation :

Director

Address :

5 – 14-6-201, Tsujido Motomachi, Kanagawa, Prefecture, Fujisawa, Japan

Date of Birth/Age :

24.06.1976

Date of Appointment :

11.07.2014

DIN No.:

06839574

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	U31300PN2005PTC021394	TATA AUTOCOMP GY BATTERIES Private Limited	Director	11/07/2014	19/03/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pradeep Roop Ali Pathak
Designation :	Secretary
Address :	B 3/302, Montvert Pristine, Off Aundh Road, Pune – 411020, Maharashtra, India
Date of Birth/Age :	02.08.1988
PAN No :	BDFPP7576K
Date of Appointment :	10.09.2010

Name :	Mr. Arjit Kumar Ranjit Datta
Designation :	Manager
Address :	Flat No. 805, Building C 2, Ganga Satellite, Wanowrie, Pune – 411040, Maharashtra, India
Date of Birth/Age :	20.07.1968
PAN No:	ABFPD8794G
Date of Appointment :	01.04.2010

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 26.09.2014

Names of Shareholders	No. of Shares
Tata Autocomp Systems Limited	68749950
GS Yuasa International Limited	68750000
Tata Autocomp Systems Limited J/Wajay Tandon	10
Tata Autocomp Systems Limited J/W Harish Pathak	10
Tata Autocomp Systems Limited J/W Arvind Goel	10
Tata Autocomp Systems Limited J/W Tarun Gupta	10
Tata Autocomp Systems Limited J/W Janhvile Khele	10
Total	137500000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Supplier and Dealer of Automation Batteries like Car Battery, Motorcycle Batteries, Inverter Batteries, UPS Batteries, Two Wheeler Batteries.

Products :

Product Description	Item Code No. (ITC Code)
Electric Accumulators including separators therefor W/N Rectangular	8507
Lead Acid Accumulators of a kind used for starting piston engines	85071000

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

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 :

Not Divulged

Bankers :

Banker Name	State bank of India
Branch Address	Industrial Finance Branch, Tara Chambers, Wakdewadi, Pune Mumbai Highway, Pune – 411003, 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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from banks	102.940	95.490
SHORT TERM BORROWING
Rupee term loan from banks	149.110	193.190
Total	25.205	288.680

Auditors :
Name :	Deloitte Haskins And Sells Chartered Accountants
Address :	706 B Wing, 7^th Floor, Icc Trade Tower, International Convention Centre, Senapati Bapat Road, Pune – 411016, Maharashtra, India
PAN No.:	AABFD7919A
Memberships :	Not Available
Collaborators :	Not Available
Related Parties :	GS Yuasa International Limited Tata Autocomp Systems Limited

CAPITAL STRUCTURE

As on : 11.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
137500000	Equity Shares	Rs.10/- each	Rs. 1375.000 Million
14000000	Preference Shares	Rs.10/- each	Rs. 140.000 Million
	Total		Rs. 1515.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
137500000	Equity Shares	Rs.10/- each	Rs. 1375.000 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	1375.000	1375.000	1375.000
(b) Reserves & Surplus	(1112.990)	(1066.090)	(1010.580)
(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)	262.010	308.910	364.420
(3) Non-Current Liabilities
(a) long-term borrowings	102.940	95.490	64.550
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	28.390	30.320	19.680
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	131.330	125.810	84.230
(4) Current Liabilities
(a) Short term borrowings	149.110	193.190	55.700
(b) Trade payables	385.780	257.320	341.260
(c) Other current liabilities	96.980	75.470	89.700
(d) Short-term provisions	74.190	74.560	69.820
Total Current Liabilities (4)	706.060	600.540	556.480
TOTAL	1099.400	1035.260	1005.130
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	381.110	432.000	426.210
(ii) Intangible Assets	3.320	4.220	6.070
(iii) Capital work-in-progress	46.460	21.980	58.440
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	18.710	8.040	24.310
(e) Other Non-current assets	6.840	9.330	5.810
Total Non-Current Assets	456.440	475.570	520.840
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	319.960	335.180	274.340
(c) Trade receivables	237.070	128.830	123.770
(d) Cash and cash equivalents	40.180	71.450	68.010
(e) Short-term loans and advances	14.760	17.190	15.450
(f) Other current assets	30.990	7.040	2.720
Total Current Assets	642.960	559.690	484.290
TOTAL	1099.400	1035.260	1005.130

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2819.210	2501.830	2188.680
		Other Income	6.710	13.190	6.090
		TOTAL	2825.920	2515.020	2194.770
Less	EXPENSES
		Cost of Materials Consumed	2002.650	1796.440	1511.960
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	8.140	(49.890)	(15.580)
		Employees benefits expense	211.080	192.640	179.610
		Other expenses	508.550	510.340	497.760
		TOTAL	2730.420	2449.530	2173.750
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		95.500	65.490	21.020
Less	FINANCIAL EXPENSES		45.750	29.790	28.990
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		49.750	35.700	(7.970)
Less/ Add	DEPRECIATION/ AMORTISATION		96.650	91.210	94.420
	PROFIT/(LOSS) AFTER TAX		(46.900)	(55.510)	(102.390)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1066.090)	(1010.580)	(908.190)
	BALANCE CARRIED TO THE B/S		(1112.990)	(1066.090)	(1010.580)
	EARNINGS IN FOREIGN CURRENCY
		Foreign Exchange Earnings	42.550	7.870	11.370
		Commission Earnings	0.000	0.000	0.000
	TOTAL EARNINGS		42.550	7.870	11.370
	IMPORTS
		Travelling and Training Expenses	0.000	0.530	1.080
		Technical Services	0.260	0.480	0.610
		CIF value of imports	272.810	283.730	265.550
		CIF value of Raw material	218.880	250.010	205.360
		CIF value of component value and spare parts	6.240	6.950	8.550
		CIF value of capital goods	47.690	26.770	51.640
	TOTAL IMPORTS		545.620	567.460	479.460
	Earnings Per Share (Rs.)		(0.34)	(0.40)	(0.74)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(1.66)	(2.22)	(4.68)
Operating Profit Margin (PBDIT / Sales)	(%)	3.39	2.62	0.96
Return on Total Assets (PBT/Total Assets}	(%)	(4.45)	(5.48)	(10.82)
Return on Investment (ROI) (PBT/Networth)		(0.18)	(0.18)	(0.28)
Debt Equity Ratio (Total Debt /Networth)		0.96	0.93	0.33
Current Ratio (Current Asset/Current Liability)		0.91	0.93	0.87

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	1375.000	1375.000	1375.000
Reserves & Surplus	(1010.580)	(1066.090)	(1112.990)
Net worth	364.420	308.910	262.010
long-term borrowings	64.550	95.490	102.940
Short term borrowings	55.700	193.190	149.110
Total borrowings	120.250	288.680	252.050
Debt/Equity ratio	0.330	0.935	0.962

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	2188.680	2501.830	2819.210
		14.308	12.686

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	2188.680	2501.830	2819.210
Profit	(102.390)	(55.510)	(46.900)
	(4.68%)	(2.22%)	(1.66%)

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	No
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

Financial Performance

During the year, the Company increased the revenue and has improved the EBIDTA margins compared to last year. However, the Company has incurred a loss of Rs. (46.900) Million as against a loss of Rs. (55.510) Million during the previous financial year. The losses for the financial year are mainly attributable to the increase in raw material prices viz. lead, adverse exchange rate, increase in power cost, and lower price realization from Aftermarket due to intensified competition.

Business Overview

• Operational activities:

Productivity and Material yields were higher than the last financial year. The Company achieved higher levels of productivity through automation of key manual processes such as stacking, pole burning etc.

• OEM Business:

In spite of the negative growth of the OEMs, revenues from OEM business could be maintained at same level as last year. The company also commenced production and supply for a leading OEM Customer for their new platform. The company also bagged the order for being the sole supplier to a Multi-National Utility Vehicle Manufacturer.

The company also continued to excel in the QCD performance with all its OEM customers.

• Aftermarket Business:

The company achieved high growth in volume in the Aftermarket business in the face of severe competition and shifting of demand towards economy and sub economy segment. Major growth came from the farm equipment sector as a resultant of a strong monsoon season. During the financial year, the company took up a number of innovative marketing campaigns to improve both customer and channel engagement.

• Outlook

The Battery Industry would continue to remain competitive. While the OEM volumes are unlikely to show any growth in the near term, the company has strengthened its share of business with its anchor customer while continuing to increase the market share in the Aftermarket segment.

The Aftermarket volume for overall automotive segment is likely to grow at the current rate of 6-8%, the company has planned for a high growth by strengthening its position in the weaker markets. The LME index for lead is showing early signs of correction; the supply side is likely to get impacted because of the lower availability of scrap batteries from the market. The 2 wheeler volumes are likely to grow sharply in the VRLA segment with more and more OEMs switching to maintenance free VRLA batteries in place of conventional batteries.

The company plans to strengthen its foothold in the aftermarket with focused initiatives.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10549547	27/01/2015	100,000,000.00	HDFC BANK LIMITED	Millenium Towers, Bhandarkar Road, Pune, Maharashtra - 411004, INDIA	C43809367
2	10023742	20/12/2014 *	636,500,000.00	State Bank of India	Industrial Finance Branch,Tara Chambers, Wakdewadi, Pune Mumbai Highway, Pune, Maharashtra - 411003,  INDIA	C39679725

* Date of charge modification

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.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	RNK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.