MIRA INFORM REPORT

Report No.:	324148
Report Date :	23.05.2015

IDENTIFICATION DETAILS

Name :	FEATHERLITE OFFICE SYSTEM PRIVATE LIMITED

Registered Office :	KKMP Building, 16-A, Millers Road, Vasanth Nagar, Bangalore – 560052, Karnataka
Tel. No.:	91-80-40209631

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	29.10.1993

Com. Reg. No.:	08-014863

Capital Investment / Paid-up Capital :	Rs. 0.500 Million

CIN No.: [Company Identification No.]	U29222KA1993PTC014863

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 is engaged into manufacturing office furniture such as modular work stations, chairs, partitions, desks conference tables educational, laboratory, retail furniture and fixtures.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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 established company incorporated in year 1993 and is having satisfactory track record. Company is engaged into manufacturing office furniture such as modular work stations, chairs, partitions, desks conference tables educational, laboratory, retail furniture and fixtures. From the financial for the year ended 2014, company showed decline in turnover of Rs. 780.000 Million and reported minimal profit from its business operations. Rating taken into account on company’s established track record of its business operations and extensive experienced of its promoters. Trade relation are fair. Business is active. Payment are reported to be usually correct. The company can be considered for business dealings with its 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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-cooperative (Tel. No.: 91-80-40209631/ 32/ 00)

LOCATIONS

Registered Office :	KKMP Building, 16-A, Millers Road, Vasanth Nagar, Bangalore – 560052, Karnataka
Tel. No.:	91-80-40209631/ 32/ 00
Fax No.:	Not Available
E-Mail :	jawahargopal@featherliteindia.com

DIRECTORS

AS ON 29.09.2015

Name :

Jawahar Gopal

Designation :

Director

Address :

Ram Kripa No.21, Millers Road, Cross, Benson Town, Bangalore – 560046, Karnataka, India

Date of Birth/Age :

30.01.1955

Date of Appointment :

29.10.1993

DIN No.:

00222728

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	U20101KA1991PTC012471	BUSINESS FURNITURE PRODUCTS PRIVATE LIMITED	Director	06/11/1991	06/11/1991	-	Active	NO
2	U20101KA1981PTC004243	FEATHERLITE PRODUCTS PRIVATE LIMITED	Director	10/10/1992	10/10/1992	-	Active	NO
3	U29222KA1993PTC014863	FEATHERLITE OFFICE SYSTEMS PRIVATE LIMITED	Director	29/10/1993	29/10/1993	-	Active	NO
4	U36101KA1995PTC018194	BODYLINE DESIGN PRIVATE LIMITED	Director	03/07/1995	03/07/1995	-	Active	NO
5	U70102KA1995PTC019066	RIVER DALE ESTATES PRIVATE LIMITED	Director	27/10/1995	27/10/1995	-	Active	NO
6	U70101KA1997PTC022144	PRINCETON HOUSING PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
7	U70101KA1997PTC022142	PRINCETON PROPERTIES PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
8	U67120KA1997PTC022145	PRINCETON FINANCE PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
9	U70101KA1997PTC022143	PRINCETON BUILDERS PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
10	U70101KA1997PTC022146	PRINCETON ESTATES PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
11	U20101KA1991PTC012470	FEATHERLITE SEATING SYSTEMS PRIVATE LIMITED	Director	30/10/1997	30/10/1997	-	Active	NO
12	U72200KA2000PTC026787	TARGET BUSINESS PARK PRIVATE LIMITED	Director	28/03/2000	28/03/2000	-	Active	NO
13	U65999KA1993PTC014820	MASCON FINANCIAL SERVICES PRIVATE LIMITED	Director	30/04/2000	30/04/2000	-	Active	NO
14	U64202KA2000PTC027163	INTEGRATED LABWAY PRIVATE LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
15	U74130KA2000PTC027698	VERSATILE MARKETING PRIVATE LIMITED	Director	28/08/2000	28/08/2000	-	Active	NO
16	U04520KA1988PTC009146	SANAX DEVELOPMENTS PRIVATE LIMITED	Director	03/11/2000	03/11/2000	-	Active	NO
17	U70102KA1983PTC005582	NIRVANA PRIVATE LIMITED	Director	23/07/2001	23/07/2001	-	Active	NO
18	U72200KA2001PTC029775	FEATHERLITE SOFTECH PRIVATE LIMITED	Director	16/11/2001	16/11/2001	-	Active	NO
19	U07010KA2002PTC030392	RIVERDALE BUILDERS PRIVATE LIMITED	Director	19/04/2002	19/04/2002	-	Active	NO
20	U07010KA2002PTC030393	RIVERDALE HOUSING PRIVATE LIMITED	Director	19/04/2002	19/04/2002	-	Active	NO
21	U72400KA2000PTC028049	SAMW TECHNOLOGIES INDIA PRIVATE LIMITED	Director	09/10/2002	09/10/2002	-	Active	NO
22	U74140KA1993PTC014563	TARGET MANAGEMENT SYSTEMS PRIVATE LIMITED	Director	20/09/2003	20/09/2003	-	Active	NO
23	U02429KA2003PTC032652	MAYFLOWER ASSOCIATES PRIVATE LIMITED	Director	29/09/2003	29/09/2003	21/04/2011	Active	NO
24	U45400KA1991PTC012013	INNOVATIVE QUEST PRIVATE LIMITED	Director	08/12/2003	08/12/2003	-	Active	NO
25	U18101UP2004PTC070551	RESPONSE FABRICS (INDIA) PRIVATE LIMITED	Director	12/07/2004	12/07/2004	21/10/2013	Active	NO
26	U51102KA2005PTC035608	TARGET ASSOCIATES PRIVATE LIMITED	Director	15/02/2005	15/02/2005	-	Active	NO
27	U07010KA2003PTC031979	ABAQUS PROPERTIES CONSULTING PRIVATE LIMITED	Director	05/10/2005	05/10/2005	-	Active	NO
28	U55102KA2006PTC040760	TARGET RESORTS AND INNS PRIVATE LIMITED	Director	18/10/2006	18/10/2006	-	Active	NO
29	U70109KA2007PTC041766	FEATHERLITE DEVELOPERS PRIVATE LIMITED	Director	13/02/2007	13/02/2007	-	Active	NO
30	U74910KA2008PTC044903	TARGET TRAINING SERVICES PRIVATE LIMITED	Director	09/01/2008	09/01/2008	-	Active	NO
31	U36101KA2008PTC044905	STUDIO-F INTERIORS PRIVATE LIMITED	Director	10/01/2008	10/01/2008	-	Active	NO
32	U45201TN2005PTC055914	TARGET SHELTERS PRIVATE LIMITED	Director	31/07/2008	31/07/2008	-	Active	NO
33	U45201TN2005PTC055785	TARGET TECH-PARK BUILDERS PRIVATE LIMITED	Director	31/07/2008	31/07/2008	-	Active	NO
34	U74140KA2006PTC039250	PROMAX MANAGEMENT CONSULTANTS PRIVATE LIMITED	Nominee director	05/08/2008	05/08/2008	03/12/2009	Active	NO
35	U52599KA2010PTC055331	FOLIA LIFESTYLE PRIVATE LIMITED	Director	09/10/2010	09/10/2010	-	Active	NO
36	U36103KA2011PTC058733	MARMON FEATHERLITE RETAIL FIXTURES PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO

Name :

Manohar Gopal

Designation :

Director

Address :

Ram Kripa No.21, Millers Road, Cross, Benson Town, Bangalore – 560046, Karnataka, India

Date of Birth/Age :

23.08.1960

Date of Appointment :

20.12.1996

DIN No.:

00222549

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	U29222KA1993PTC014863	FEATHERLITE OFFICE SYSTEMS PRIVATE LIMITED	Director	20/12/1996	20/12/1996	-	Active	NO
2	U70101KA1997PTC022144	PRINCETON HOUSING PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
3	U70101KA1997PTC022142	PRINCETON PROPERTIES PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
4	U67120KA1997PTC022145	PRINCETON FINANCE PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
5	U70101KA1997PTC022143	PRINCETON BUILDERS PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
6	U70101KA1997PTC022146	PRINCETON ESTATES PRIVATE LIMITED	Director	23/04/1997	23/04/1997	-	Active	NO
7	U20101KA1991PTC012471	BUSINESS FURNITURE PRODUCTS PRIVATE LIMITED	Director	30/10/1997	30/10/1997	-	Active	NO
8	U20101KA1981PTC004243	FEATHERLITE PRODUCTS PRIVATE LIMITED	Director	20/12/1999	20/12/1999	-	Active	NO
9	U20101KA1991PTC012470	FEATHERLITE SEATING SYSTEMS PRIVATE LIMITED	Director	20/12/1999	20/12/1999	-	Active	NO
10	U72200KA2000PTC026787	TARGET BUSINESS PARK PRIVATE LIMITED	Director	28/03/2000	28/03/2000	-	Active	NO
11	U64202KA2000PTC027163	INTEGRATED LABWAY PRIVATE LIMITED	Director	29/05/2000	29/05/2000	-	Active	NO
12	U70102KA1995PTC019066	RIVER DALE ESTATES PRIVATE LIMITED	Director	05/08/2000	05/08/2000	-	Active	NO
13	U65999KA1993PTC014820	MASCON FINANCIAL SERVICES PRIVATE LIMITED	Director	07/08/2000	07/08/2000	-	Active	NO
14	U74130KA2000PTC027698	VERSATILE MARKETING PRIVATE LIMITED	Director	28/08/2000	28/08/2000	-	Active	NO
15	U36101KA1995PTC018194	BODYLINE DESIGN PRIVATE LIMITED	Director	05/09/2000	05/09/2000	-	Active	NO
16	U04520KA1988PTC009146	SANAX DEVELOPMENTS PRIVATE LIMITED	Director	03/11/2000	03/11/2000	-	Active	NO
17	U70102KA1983PTC005582	NIRVANA PRIVATE LIMITED	Director	23/07/2001	23/07/2001	-	Active	NO
18	U72200KA2001PTC029775	FEATHERLITE SOFTECH PRIVATE LIMITED	Director	16/11/2001	16/11/2001	-	Active	NO
19	U07010KA2002PTC030392	RIVERDALE BUILDERS PRIVATE LIMITED	Director	19/04/2002	19/04/2002	-	Active	NO
20	U07010KA2002PTC030393	RIVERDALE HOUSING PRIVATE LIMITED	Director	19/04/2002	19/04/2002	-	Active	NO
21	U72400KA2000PTC028049	SAMW TECHNOLOGIES INDIA PRIVATE LIMITED	Director	09/10/2002	09/10/2002	-	Active	NO
22	U74140KA1993PTC014563	TARGET MANAGEMENT SYSTEMS PRIVATE LIMITED	Director	20/09/2003	20/09/2003	-	Active	NO
23	U02429KA2003PTC032652	MAYFLOWER ASSOCIATES PRIVATE LIMITED	Director	29/09/2003	29/09/2003	21/04/2011	Active	NO
24	U45400KA1991PTC012013	INNOVATIVE QUEST PRIVATE LIMITED	Director	08/12/2003	08/12/2003	-	Active	NO
25	U07010KA2003PTC031979	ABAQUS PROPERTIES CONSULTING PRIVATE LIMITED	Director	05/10/2005	05/10/2005	-	Active	NO
26	U70109KA2007PTC041766	FEATHERLITE DEVELOPERS PRIVATE LIMITED	Director	13/02/2007	13/02/2007	-	Active	NO
27	U36101KA2008PTC044905	STUDIO-F INTERIORS PRIVATE LIMITED	Director	10/01/2008	10/01/2008	-	Active	NO
28	U45201TN2005PTC055914	TARGET SHELTERS PRIVATE LIMITED	Director	31/07/2008	31/07/2008	-	Active	NO
29	U45201TN2005PTC055785	TARGET TECH-PARK BUILDERS PRIVATE LIMITED	Director	31/07/2008	31/07/2008	-	Active	NO
30	U52599KA2010PTC055331	FOLIA LIFESTYLE PRIVATE LIMITED	Director	28/09/2010	28/09/2010	-	Active	NO
31	U36103KA2011PTC058733	MARMON FEATHERLITE RETAIL FIXTURES PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO

Name :

Dhiren Gopal

Designation :

Director

Address :

02-A, Farah Fort, Manor No. 20, 1^st Main Road, Jayamahal Extension, Jayamahal Extension, Bangalore – 5600046, Karnataka, India

Date of Birth/Age :

18.07.1965

Date of Appointment :

20.03.1996

DIN No.:

00222658

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	U20101KA1991PTC012470	FEATHERLITE SEATING SYSTEMS PRIVATE LIMITED	Director	20/03/1992	20/03/1992	-	Active	NO
2	U20101KA1981PTC004243	FEATHERLITE PRODUCTS PRIVATE LIMITED	Director	10/10/1992	10/10/1992	-	Active	NO
3	U29222KA1993PTC014863	FEATHERLITE OFFICE SYSTEMS PRIVATE LIMITED	Director	20/12/1996	20/12/1996	-	Active	NO
4	U20101KA1991PTC012471	BUSINESS FURNITURE PRODUCTS PRIVATE LIMITED	Director	20/12/1999	20/12/1999	-	Active	NO
5	U72200KA2000PTC026787	TARGET BUSINESS PARK PRIVATE LIMITED	Director	28/03/2000	28/03/2000	-	Active	NO
6	U70102KA1995PTC019066	RIVER DALE ESTATES PRIVATE LIMITED	Director	05/08/2000	05/08/2000	-	Active	NO
7	U65999KA1993PTC014820	MASCON FINANCIAL SERVICES PRIVATE LIMITED	Director	07/08/2000	07/08/2000	-	Active	NO
8	U04520KA1988PTC009146	SANAX DEVELOPMENTS PRIVATE LIMITED	Director	03/11/2000	03/11/2000	-	Active	NO
9	U70102KA1983PTC005582	NIRVANA PRIVATE LIMITED	Director	23/07/2001	23/07/2001	-	Active	NO
10	U72200KA2001PTC029775	FEATHERLITE SOFTECH PRIVATE LIMITED	Director	16/11/2001	16/11/2001	-	Active	NO
11	U07010KA2002PTC030392	RIVERDALE BUILDERS PRIVATE LIMITED	Director	19/04/2002	19/04/2002	-	Active	NO
12	U07010KA2002PTC030393	RIVERDALE HOUSING PRIVATE LIMITED	Director	19/04/2002	19/04/2002	-	Active	NO
13	U72400KA2000PTC028049	SAMW TECHNOLOGIES INDIA PRIVATE LIMITED	Director	09/10/2002	09/10/2002	-	Active	NO
14	U74140KA1993PTC014563	TARGET MANAGEMENT SYSTEMS PRIVATE LIMITED	Director	20/09/2003	20/09/2003	-	Active	NO
15	U02429KA2003PTC032652	MAYFLOWER ASSOCIATES PRIVATE LIMITED	Director	29/09/2003	29/09/2003	21/04/2011	Active	NO
16	U45400KA1991PTC012013	INNOVATIVE QUEST PRIVATE LIMITED	Director	08/12/2003	08/12/2003	-	Active	NO
17	U74130KA2000PTC027698	VERSATILE MARKETING PRIVATE LIMITED	Director	25/12/2003	25/12/2003	-	Active	NO
18	U70101KA1997PTC022144	PRINCETON HOUSING PRIVATE LIMITED	Director	25/12/2003	25/12/2003	-	Active	NO
19	U70101KA1997PTC022142	PRINCETON PROPERTIES PRIVATE LIMITED	Director	25/12/2003	25/12/2003	-	Active	NO
20	U67120KA1997PTC022145	PRINCETON FINANCE PRIVATE LIMITED	Director	25/12/2003	25/12/2003	-	Active	NO
21	U70101KA1997PTC022143	PRINCETON BUILDERS PRIVATE LIMITED	Director	25/12/2003	25/12/2003	-	Active	NO
22	U70101KA1997PTC022146	PRINCETON ESTATES PRIVATE LIMITED	Director	25/12/2003	25/12/2003	-	Active	NO
23	U36101KA1995PTC018194	BODYLINE DESIGN PRIVATE LIMITED	Director	26/12/2003	26/12/2003	-	Active	NO
24	U70109KA2007PTC041766	FEATHERLITE DEVELOPERS PRIVATE LIMITED	Director	13/02/2007	13/02/2007	-	Active	NO
25	U36101KA2008PTC044905	STUDIO-F INTERIORS PRIVATE LIMITED	Director	10/01/2008	10/01/2008	-	Active	NO
26	U45201TN2005PTC055914	TARGET SHELTERS PRIVATE LIMITED	Director	31/07/2008	31/07/2008	-	Active	NO
27	U45201TN2005PTC055785	TARGET TECH-PARK BUILDERS PRIVATE LIMITED	Director	31/07/2008	31/07/2008	-	Active	NO
28	U74140KA2006PTC039250	PROMAX MANAGEMENT CONSULTANTS PRIVATE LIMITED	Nominee director	05/08/2008	05/08/2008	03/12/2009	Active	NO
29	U52599KA2010PTC055331	FOLIA LIFESTYLE PRIVATE LIMITED	Director	09/10/2010	09/10/2010	-	Active	NO
30	U64202KA2000PTC027163	INTEGRATED LABWAY PRIVATE LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
31	U36103KA2011PTC058733	MARMON FEATHERLITE RETAIL FIXTURES PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO

SHAREHOLDING PATTERN

AS ON 29.09.2015

Names of Shareholders	No. of Shares	% of Holdings
Jawaharlal Gopal	470	9.40
Meera Jawahar	470	9.00
Lav Jawahar	375	7.50
Kush Jawahar	375	7.50
Manohar Gopal	1215	24.30
Neha Manohar	450	9.00
Dhiren Gopal	1215	24.30
Neeta Dhiren	450	9.00
Total	5000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2015

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into manufacturing office furniture such as modular work stations, chairs, partitions, desks conference tables educational, laboratory, retail furniture and fixtures.

Products :	Not Divulged

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

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 :

Payment Behaviour	Market Goodwill	Overall

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 :

Product Quality	Delivery Behaviour	Overall

Remark:

Not Divulged

No. of Employees :

Information declined by the management

Bankers :

DBS Bank Limited, Salarpuria Windsor No.3, Ulsoor Road, Bangalore – 560042, Karnataka, India
Bank of India, Bangalore Corporate Banking Branch, No. 25/1, Skip House, Museum Road, Bangalore – 560025, Karnataka, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loan from banks Bank of India, Bangalore (Hypothecation of 1 Wind Turbine and First Charge on Receivable from MSEDCL)	11.327	18.246
Axis Bank Bangalore Vehicle Loan: Tata AACE Tempo Trax Jaguar Car	-- -- 0.721	0.160 0.079 2.063
ICICI Bank, Bangalore Vehicle loan Mini Countryman Range Rover Evoque	1.039 4.672	-- --

Total	17.759	20.548


Banking Relations :	--

Auditors :
Name :	BVS and Associates Chartered Accountants
Address :	#31-32, 1^st Floor, Venkatadri, C.K. Garden, St. Thomas Town, Wheeler Road Extension, Bangalore – 560084, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAHFB0944P

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 29.09.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs. 0.500 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	0.500	0.500	0.500
(b) Reserves & Surplus	349.870	335.195	577.168
(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)	350.370	335.695	577.668

(3) Non-Current Liabilities
(a) long-term borrowings	465.705	193.725	199.417
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	465.705	193.725	199.417

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	91.293	122.143	117.215
(c) Other current liabilities	71.209	62.038	46.277
(d) Short-term provisions	5.321	312.336	43.382
Total Current Liabilities (4)	167.823	496.517	206.874

TOTAL	983.898	1025.937	983.959

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	231.563	241.565	233.032
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	37.549
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	155.463	270.607	129.878
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	204.918	114.309	119.409
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	591.944	626.481	519.868

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	57.985	39.978	49.094
(c) Trade receivables	248.066	264.015	266.407
(d) Cash and cash equivalents	24.742	24.814	51.895
(e) Short-term loans and advances	61.161	70.649	96.695
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	391.954	399.456	464.091

TOTAL	983.898	1025.937	983.959

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	781.826	812.182	892.381

Less	EXPENSES
		TOTAL	677.539	685.863	756.445

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		104.287	126.319	135.936

Less	INTEREST		57.804	29.429	28.178

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		46.483	96.890	107.758

Less/ Add	DEPRECIATION/ AMORTISATION		26.486	26.527	27.016

	PROFIT BEFORE TAX		19.997	70.363	80.742

Less	TAX		5.322	19.849	23.213

	PROFIT AFTER TAX		14.675	50.514	57.529

	Earnings Per Share (Rs.)		2935	10102.8	11505.8

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.88	6.22	6.45

Operating Profit Margin (PBIDT/Sales)	(%)	13.34	15.55	15.23

Return on Total Assets (PBT/Total Assets}	(%)	2.41	9.32	9.89

Return on Investment (ROI) (PBT/Networth)		0.06	0.21	0.14

Debt Equity Ratio (Total Debt /Networth)		1.33	0.58	0.35

Current Ratio (Current Asset/Current Liability)		2.34	0.80	2.24

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	0.500	0.500	0.500
Reserves & Surplus	577.168	335.195	349.870
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	577.668	335.695	350.370

long-term borrowings	199.417	193.725	465.705
Short term borrowings	0.000	0.000	0.000
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	0.000
Total borrowings	199.417	193.725	465.705
Debt/Equity ratio	0.345	0.577	1.329

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)
Total Income	892.381	812.182	781.826
		(8.987)	(3.738)

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	892.381	812.182	781.826
Profit	57.529	50.514	14.675
	6.45%	6.22%	1.88%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	----
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	----
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	----
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	-----
33	Market information	-----
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from Survey No. 7/2, New Corpno 320/3-12, Deepanjali Nagar, Mysore Road, Bangalore – 560026, Karnataka, India to the present address w.e.f.04.08.2009.

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties	360.446	85.677
Other loan and advances	87.500	87.500

Total	447.946	173.177

INDEX OF CHARGES

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

10460475

10/03/2014 *

100,000,000.00

DBS BANK LTD.

Salarpuria Windsor No.3, Ulsoor Road, Bangalore, Karnataka - 560042,

INDIA

B98838204

10022216

19/10/2006

45,000,000.00

BANK OF INDIA

BANGALORE CORPORATE BANKING BRANCH, NO. 25/1, SKIP HOUSE, MUSEUM ROAD, BANGALORE,

Karnataka - 560025,

INDIA

A05622915

* Date of charge modification

FIXED ASSETS

Land
Buildings
Plant and Machinery
Furniture and Fixture
Vehicles
Office Equipments
Computer
Electrical Installation

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.86
UK Pound	1	Rs. 98.89
Euro	1	Rs. 70.73

INFORMATION DETAILS

Information Gathered by :	REK

Analysis Done by :	KAS

Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	4
--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	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		42

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.