MIRA INFORM REPORT

Report No. :	319596
Report Date :	07.05.2015

IDENTIFICATION DETAILS

Name :	LAKSHMI ELECTRICAL DRIVES LIMITED (w.e.f. 05.02.2001)

Formerly Known As :	LAKSHMI ELECTRICAL DRIVE TECHNOLOGY LIMITED (w.e.f. 07.04.2000) LAKSHMI FOUNDRIES LIMITED

Registered Office :	504, Avanashi Road, Peelamedu, Coimbatore – 641004, Tamilnadu
Tel. No.:	91-422-6631101

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	03.03.1983

Com. Reg. No.:	18-001258

Capital Investment / Paid-up Capital :	Rs.1.125 Million

CIN No.: [Company Identification No.]	U31200TZ1983PLC001258

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	CMBL03051G

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

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacture and deal in high quality castings of aluminium, brass, ferrous and non-ferrous metals and their alloys.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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 satisfactory track. The rating reflects sound financial risk profile marked by healthy reserves position and decent profitability of the company. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered 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

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	04.05.2015

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 :	504, Avanashi Road, Peelamedu, Coimbatore – 641004, Tamilnadu, India
Tel. No.:	91-422-6631101 / 6631107
Fax No.:	91-422-6631141
E-Mail :	secretaryhtl@htl.net.in durairaj.m@ledl.in info@ledl.in sales@ledl.in
Website :	www.ledl.in

DIRECTORS

AS ON 07.08.2014

Name :

Mr. Jayavarthanavelu Rajyalakshmi

Designation :

Director

Address :

"Pranaam", No.26, Circuit House Road, Coimbatore - 641018, Tamil Nadu, India

Date of Birth/Age :

23.08.1945

Date of Appointment :

03.03.1983

DIN No.:

00004588

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	U29191TZ1980PTC000905	MAHALAKSHMI ENGINEERING HOLDINGS Private Limited	Director	02/12/2006	18/02/1980	-	Active	NO
2	U31200TZ1983PLC001258	LAKSHMI ELECTRICAL DRIVES LIMITED	Director	03/03/1983	03/03/1983	-	Active	NO
3	U51397TZ1991PLC003477	ESHAAN ENTERPRISES LIMITED	Director	23/10/1991	23/10/1991	-	Active	NO
4	U52599TN1991PLC021857	LAKSHMI CARGO COMPANY LIMITED	Director	13/12/1991	13/12/1991	-	Active	NO
5	U63040TZ1981PLC007191	STARLINE TRAVELS LIMITED	Managing director	13/10/2012	14/07/1992	-	Active	NO
6	U17111TZ2000PLC009487	SUN SPINTEX INDIA LIMITED	Director	15/09/2000	15/09/2000	-	Amalgamated	NO
7	U27310TZ1992PLC003812	INTEGRATED ELECTRICAL CONTROLS INDIA LIMITED	Director	03/03/2004	03/03/2004	-	Active	NO
8	U55101TZ1990PTC002853	WALZER HOTELS AND RESORTS Private Limited	Director	23/08/2010	27/05/2010	-	Active	NO
9	U17111TZ1968PLC000583	LAKSHMI TECHNOLOGY AND ENGINEERING INDUSTRIES LIMITED	Director	11/08/2011	31/01/2011	-	Active	NO
10	U29100TZ2012PLC018665	LAKSHMI ENERGY AND ENVIRONMENT DESIGNS LIMITED	Director	22/08/2012	22/08/2012	-	Active	NO
11	U15200TZ2012PLC018700	SUPREME DAIRY PRODUCTS INDIA LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO

Name :

Mr. Narayanasamy Thayarammal

Designation :

Director

Address :

No.695, "Shell House", Avanashi Road, P.N. Palayam, Coimbatore - 641037, Tamil Nadu, India

Date of Birth/Age :

05.07.1922

Date of Appointment :

03.03.1983

DIN No.:

00004743

Other Directorship:

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

U29191TZ1980PTC000905

MAHALAKSHMI ENGINEERING HOLDINGS Private Limited

Director

18/02/1980

Active

U31200TZ1983PLC001258

LAKSHMI ELECTRICAL DRIVES LIMITED

Director

03/03/1983

Active

Name :

Mr. Dinakaran Senthilkumar

Designation :

Director

Address :

"Theerth", 8-12, Nethaji Road, Pappanaickenpalayam, Coimbatore, 641037, Tamil Nadu, India

Date of Birth/Age :

02.12.1967

Date of Appointment :

15.03.1996

DIN No.:

00006172

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	U60221TN1951PLC000161	ARUPPUKOTTAI SRI JAYA VILAS LIMITED	Director	05/07/1985	05/07/1985	01/03/2012	Active	NO
2	U51909TN1991PLC020287	RAMALINGA EXPORTS LTD	Director	11/02/1991	11/02/1991	-	Active	NO
3	U17111TN1992PTC022984	SRI SATHU SPINNING MILLS PRIVATE LTD	Director	01/07/1992	01/07/1992	-	Amalgamated	NO
4	U65191TN1980PTC008152	ARUPPUKOTTAI SRI JAYAVILAS FINANCE PRIVATE LIMITED	Director	22/03/1995	22/03/1995	-	Active	NO
5	U17111TN1951PLC002746	SHRI RAMALINGA MILLS LTD	Whole-time director	01/04/2013	22/03/1995	-	Active	NO
6	U65991TN1990PTC019522	SHRI RAMALINGA LEASING COMPANY PRIVATE LIMITED	Director	11/02/1996	11/02/1996	-	Active	NO
7	U31200TZ1983PLC001258	LAKSHMI ELECTRICAL DRIVES LIMITED	Director	15/03/1996	15/03/1996	-	Active	NO
8	U45201TN1990PLC019812	SHRI RAMALINGA BUILDERS LTD.	Director	09/12/1996	09/12/1996	-	Active	NO
9	L31200TZ1981PLC001124	LAKSHMI ELECTRICAL CONTROL SYSTEMS LIMITED	Director	22/03/1997	22/03/1997	-	Active	NO
10	U17111TN1989PTC018061	SREE JEYA SOUNDHARAM TEXTILE MILLS PRIVATE LIMITED	Director	09/06/1997	09/06/1997	-	Active	NO
11	U01111TZ2002PTC010306	RAMLAKSHMI AGRO FARMS PRIVATE LIMITED	Director	04/09/2002	04/09/2002	-	Active	NO
12	L17111TN1989PLC018267	TAMILNADU JAI BHARATH MILL LIMITED	Whole-time director	18/01/2013	06/09/2002	-	Active	NO
13	U27310TZ1992PLC003812	INTEGRATED ELECTRICAL CONTROLS INDIA LIMITED	Director	03/03/2004	03/03/2004	-	Active	NO
14	U17111TZ2003PLC010786	HARSHNI TEXTILES LIMITED	Nominee director	08/03/2004	08/03/2004	-	Active	NO
15	U01119TZ2006PTC012920	RAMLAKSHMI PLANTATIONS PRIVATE LIMITED	Director	12/07/2006	12/07/2006	-	Active	NO
16	U01119TZ2006PTC012919	RAMLAKSHMI AGRO PLANTATIONS PRIVATE LIMITED	Director	12/07/2006	12/07/2006	-	Active	NO
17	U70100TZ2007PTC013931	RAMLAKSHMI HOLDINGS PRIVATE LIMITED	Director	13/09/2007	13/09/2007	-	Active	NO
18	U17111TZ2011PLC016747	SUN SPINTEX INDIA LIMITED	Director	30/07/2012	10/02/2011	-	Active	NO
19	U15200TZ2012PLC018700	SUPREME DAIRY PRODUCTS INDIA LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO

Name :

Mr. Reddigari Chinna Hanumantha Reddy

Designation :

Director

Address :

Plot No.1250 (Jhhbs), Road No.92, (Road No:12 Extension), Jubliee Hills, Hyderabad - 500033, Andhra Pradesh, India

Date of Birth/Age :

01.06.1935

Date of Appointment :

03.11.2004

DIN No.:

00006184

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	U17219TZ1960PTC000343	LAKSHMI CARD CLOTHING MFG. COMPANY PRIVATE LIMITED	Director	26/06/1996	26/06/1996	-	Active	NO
2	U28939TZ1966PLC000559	LAKSHMI PRECISION TOOLS LIMITED	Director	23/09/1999	23/09/1999	-	Active	NO
3	U17111TZ2003PLC010786	HARSHNI TEXTILES LIMITED	Director	07/08/2014	08/03/2004	-	Active	NO
4	U31200TZ1983PLC001258	LAKSHMI ELECTRICAL DRIVES LIMITED	Director	03/11/2004	03/11/2004	-	Active	NO
5	L29269TZ1973PLC000680	LAKSHMI AUTOMATIC LOOM WORKS LIMITED	Director	18/09/2014	22/04/2005	-	Active	NO
6	L01542TZ1985PLC001706	RAJSHREE SUGARS & CHEMICALS LIMITED	Director	08/09/2014	30/12/2005	-	Active	NO
7	U17111TZ1974PLC000712	LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED	Director	01/04/2014	31/07/2009	-	Active	NO
8	U15424TZ2002PLC013368	TRIDENT SUGARS LIMITED	Director	08/09/2014	08/09/2014	-	Active	NO

Name :

Mr. Nethra Jayavarthanavelu Senthilkumar

Designation :

Director

Address :

Theerth, 16/1, G.K.D. Nagar, Pappanaickenpalayam, Coimbatore - 641037, Tamil Nadu, India

Date of Birth/Age :

22.01.1972

Date of Appointment :

18.01.1991

DIN No.:

00217906

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	U31200TZ1983PLC001258	LAKSHMI ELECTRICAL DRIVES LIMITED	Director	18/01/1991	18/01/1991	-	Active	NO
2	U63040TZ1981PLC007191	STARLINE TRAVELS LIMITED	Director	14/07/1992	14/07/1992	-	Active	NO
3	U28939TZ1966PLC000559	LAKSHMI PRECISION TOOLS LIMITED	Director	23/02/1994	23/02/1994	-	Active	NO
4	U17111TZ2000PLC009487	SUN SPINTEX INDIA LIMITED	Director	15/09/2000	15/09/2000	-	Amalgamated	NO
5	L31200TZ1981PLC001124	LAKSHMI ELECTRICAL CONTROL SYSTEMS LIMITED	Managing director	01/07/2012	23/10/2000	-	Active	NO
6	U01111TZ2002PTC010306	RAMLAKSHMI AGRO FARMS PRIVATE LIMITED	Director	04/09/2002	04/09/2002	-	Active	NO
7	U27310TZ1992PLC003812	INTEGRATED ELECTRICAL CONTROLS INDIA LIMITED	Nominee director	27/11/2002	27/11/2002	-	Active	NO
8	U17111TZ2003PLC010786	HARSHNI TEXTILES LIMITED	Managing director	25/03/2015	08/03/2004	-	Active	NO
9	U01119TZ2006PTC012920	RAMLAKSHMI PLANTATIONS PRIVATE LIMITED	Director	12/07/2006	12/07/2006	-	Active	NO
10	U01119TZ2006PTC012919	RAMLAKSHMI AGRO PLANTATIONS PRIVATE LIMITED	Director	12/07/2006	12/07/2006	-	Active	NO
11	U51909TZ2004PTC011211	VENKATAVARADHAA AGENCIES Private Limited	Director	09/12/2006	09/12/2006	-	Active	NO
12	U55101TZ1990PTC002853	WALZER HOTELS AND RESORTS Private Limited	Director	28/07/2007	28/07/2007	-	Active	NO
13	U70100TZ2007PTC013931	RAMLAKSHMI HOLDINGS PRIVATE LIMITED	Director	13/09/2007	13/09/2007	-	Active	NO
14	U51397TZ1991PLC003477	ESHAAN ENTERPRISES LIMITED	Director	08/09/2010	27/05/2010	-	Active	NO
15	U17111TZ2011PLC016747	SUN SPINTEX INDIA LIMITED	Director	30/07/2012	10/02/2011	-	Active	NO
16	U29100TZ2012PLC018665	LAKSHMI ENERGY AND ENVIRONMENT DESIGNS LIMITED	Director	22/08/2012	22/08/2012	-	Active	NO
17	U15200TZ2012PLC018700	SUPREME DAIRY PRODUCTS INDIA LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO

MAJOR SHAREHOLDERS

AS ON 07.08.2014

Names of Shareholders	No. of Shares
D. Thayarammal	500
J. Rajyalakshmi	2750
R. Rajendran	100
Nethra j. S Kumar	98630
D. Senthil Kumar	500
Master Vedhanth S. Kumar	10000
Ramlakshmi Agro Farms Private Limited	10
Ramlakshmi Holdings Private Limited	10

Total	112500

Equity Share Break up (Percentage of Total Equity)

AS ON 07.08.2014

Category	Percentage
Bodies corporate	0.02
Directors or relatives of Directors	99.89
Other top fifty shareholders	0.09
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacture and deal in high quality castings of aluminium, brass, ferrous and non-ferrous metals and their alloys.

Products :	Castings of Aluminium Brass Ferrous Metals Non-Ferrous Metals Alloys

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Not Available

Purchasing :	Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark :	Not Available

Customers :

Company Name :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark :	Not Available

No. of Employees :

Not Available

Bankers :

Banker Name :	Indian Bank
Branch :	Coimbatore Main Branch, 31 Variety Hall Road, Coimbatore - 641001, Tamil Nadu, India
Person Name (With Designation) :	Not Available
Contact Number :	Not Available
Name of Account Holder :	Not Available
Account Number :	Not Available
Account Since (Date/Year of Account Opening) :	Not Available
Average Balance Maintained :	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Available
Account Operation :	Not Available
Remark :	Not Available

IDBI Bank Limited, 72 Balasundaram Road, Coimbatore - 641018, Tamil Nadu, India

Standard Chartered Bank, 509, D.B. Road, R.S. Puram, Coimbatore - 641002, Tamil Nadu, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Term Loans - From Banks Indian Bank - Rs. 43.000 Million Primary Security: Plant and Machinery (present and future) of both the Divisions. Collateral security: Land and Building belonging to the Motor Division and current assets of the Motor division. Repayable in 20 quarterly installments commencing from December 2007.Rate of interest is @ 13.00% p.a. Repayable in 12 quarterly installments commencing from June 2013. Rate of interest is @ 12.20% p.a. Period and amount of continuing default – Nil	0.000	28.664

Short Term Borrowings
Loan repayable on demand
Secured Loans from banks
i) IDBI Bank Limited - Bill Discounting Limit Rs.20.000 Million Primary Security - Trade Bills and paripassu first charge on current assets of the motor division along with Indian Bank & Standard Chartered Bank. Rate of interest @ 12.5% p.a. (Previous year) Collateral Security - paripassu first charge over land, building and machineries of the Company situated at 504 Avinashi Road, Coimbatore, along with Indian Bank and Standard Chartered Bank (Previous year)	0.000	10.550
ii) Indian Bank Limited - Bill Discounting Limit Rs.20.000 Million	18.032	0.000
iii) Indian Bank Limited – Limit Rs.244.000 Million Primary Security - Exclusive charge on the Land and Building on the Motor division. Exclusive charge on the current assets of the Textile division for the working capital limit. Rate of interest is @ 12.2% p.a. Collateral Security - Exclusive charge on the entire current assets of the Motor division. Exclusive First charge on the fixed assets of the Textile Division	210.546	225.622

Total	228.578	264.836


Auditors :
Name :	S. Krishnamoorthy and Company Chartered Accountants
Address :	Kanapathy Towers, III Floor, 1391/A-1, Sathy Road, Ganapathy, Coimbatore – 641006, Tamil Nadu, India
PAN No.:	AALFS4188C

Collaborators :	Not Divulged

Membership :	Not Divulged

Subsidiary Companies :	· Integrated Electrical Controls India Limited · Harshni Textiles Limited · Sun Spintex India Limited

Other Related Parties :	· Lakshmi Precision Tools Limited · Starline Travels Limited · Lakshmi Electrical Control Systems Limited · Shri Ramalinga Mills Limited · Tamilnadu Jaibharat Mill Limited · Lakshmi Cargo Company Limited · Eshaan Enterprises Limited · Venkatavaradhaa Agencies Limited

CAPITAL STRUCTURE

AS ON 07.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs.10/- each	Rs.5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

112500	Equity Shares	Rs.10/- each	Rs.1.125 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	1.125	1.125	1.125
(b) Reserves & Surplus	593.457	561.816	541.314
(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)	594.582	562.941	542.439

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	28.664	0.000
(b) Deferred tax liabilities (Net)	3.751	5.651	7.851
(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)	3.751	34.315	7.851

(4) Current Liabilities
(a) Short term borrowings	241.578	249.172	171.442
(b) Trade payables	69.051	48.982	47.951
(c) Other current liabilities	17.261	36.248	122.595
(d) Short-term provisions	26.825	21.893	21.451
Total Current Liabilities (4)	354.715	356.295	363.439

TOTAL	953.048	953.551	913.729

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	140.127	152.505	172.934
(ii) Intangible Assets	0.128	0.128	0.128
(iii) Capital work-in-progress	0.000	1.148	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	300.091	200.067	200.067
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	32.589	33.924	42.931
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	472.935	387.772	416.060

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	143.820	130.906	160.698
(c) Trade receivables	165.638	132.343	146.251
(d) Cash and cash equivalents	2.696	6.023	3.923
(e) Short-term loans and advances	167.959	296.507	186.797
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	480.113	565.779	497.669

TOTAL	953.048	953.551	913.729

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		730.077	625.171	620.653
		Other Income		19.799	10.945	6.458
		TOTAL (A)		749.876	636.116	627.111

Less	EXPENSES
		Cost of Materials Consumed		512.625	425.217	437.367
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(15.223)	2.634	(17.371)
		Employee Benefits Expenses		86.395	68.570	67.500
		Other Expenses		62.068	54.652	47.148
		Bad Debts		3.237	8.984	0.000
		TOTAL (B)		649.102	560.057	534.644

	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			100.774	76.059	92.467

Less	FINANCIAL EXPENSES (D)			29.353	18.061	15.645

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			71.421	57.998	76.822

Less	DEPRECIATION/ AMORTISATION (F)			17.735	19.632	19.639

	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			53.686	38.366	57.183

Less	TAX (H)			18.097	15.231	18.121

	PROFIT/(LOSS) AFTER TAX (G-H) (I)			35.589	23.135	39.062

	EARNINGS IN FOREIGN CURRENCY – ON FOB			40.520	30.848	16.767

	IMPORTS
			Raw Materials	1.283	30.848	0.000
			Components & Spare parts	1.624	1.624	0.130
			Machinery	0.000	0.336	2.519
	TOTAL IMPORTS			2.907	1.960	2.649

	Earnings Per Share (Rs.)			316.35	205.64	347.22

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	4.87	3.70	6.29

Operating Profit Margin (PBDIT/Sales)	(%)	13.80	12.17	14.90

Return on Total Assets (PBT/Total Assets)	(%)	8.22	5.10	8.01

Return on Investment (ROI) (PBT/Networth)		0.09	0.07	0.11

Debt Equity Ratio (Total Debt /Networth)		0.41	0.49	0.32

Current Ratio (Current Asset/Current Liability)		1.35	1.59	1.37

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	1.125	1.125	1.125
Reserves & Surplus	541.314	561.816	593.457
Share Application money pending allotment	0.000	0.000	0.000
Net worth	542.439	562.941	594.582

long-term borrowings	0.000	28.664	0.000
Short term borrowings	171.442	249.172	241.578
Total borrowings	171.442	277.836	241.578
Debt/Equity ratio	0.316	0.494	0.406

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	620.653	625.171	730.077
		0.728	16.780

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	620.653	625.171	730.077
Profit	39.062	23.135	35.589
	6.29%	3.70%	4.87%

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

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Short Term Borrowings
Loan and Advances from related parties/Directors Smt. Nethra J S Kumar (Repayable on demand, interest @ 10% p.a.)	13.000	13.000

Total	13.000	13.000

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10045596	12/04/2011 *	115,300,000.00	INDIAN BANK	MAIN BRANCH, 31, VARIETY HALL ROAD, COIMBATORE, TAMIL NADU - 641001, INDIA	B12242624
2	90001709	16/12/2013 *	270,000,000.00	INDIAN BANK	COIMBATORE MAIN BRANCH,, 31 VARIETY HALL ROAD, COIMBATORE, TAMIL NADU - 641001, INDIA	B93017655

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· Computer

· Vehicles

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 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.63.64
UK Pound	1	Rs.96.81
Euro	1	Rs.71.51

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO

TOTAL		48

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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