MIRA INFORM REPORT

Report No. :	347768
Report Date :	02.11.2015

IDENTIFICATION DETAILS

Name :	DML EXIM PRIVATE LIMITED (w.e.f. 26.07.2008)
Formerly Known As :	D M LAKHANI OVERSEAS PRIVATE LIMITED (w.e.f.12.09.2003) SHREE SONAL IEE (JAYDEEP HOTELS) PRIVATE LIMITED
Registered Office :	405, Embassy Tower, Opposite Jubilee Garden, Jawahar Road, Rajkot – 360001, Gujarat
Mob. No.:	91-281-2229183
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	07.09.1988
Com. Reg. No.:	04-011223
Capital Investment / Paid-up Capital :	Rs. 19.363 Million
CIN No.: [Company Identification No.]	U55100GJ1988PTC011223
IEC No.:	2403004901
TAN No.: [Tax Deduction & Collection Account No.]	RKTD00967B
PAN No.: [Permanent Account No.]	AABED8911B
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Agricultural Products and Wind Power Generation
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1145000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1988 having moderate track. As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financial for the year 2014 are not available from any sources. As per available financial of 2013, turnover and profit of the company has declined. Further, borrowings recorded by the company seem to be huge and increasing over years. Their trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution in view non-availability of latest financials.

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	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 it carry moderate credit risk.
Date	30.06.2014

Rating Agency Name	CRISIL
Rating	Short term rating: A3
Rating Explanation	Moderate degree of safety it carry higher credit risk.
Date	30.06.2014

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 31-03-2015.

INFORMATION DECLINED BY

Name :	Mr. Nilesh Kothari
Designation :	General Manager
Contact No.:	91-9377777601
Date :	31.10.2015

LOCATIONS

Registered Office :	405, Embassy Tower, Opposite Jubilee Garden, Jawahar Road, Rajkot – 360001, Gujarat, India
Tel. No.:	91-281-2229183/ 2240671
Mobile No.:	91-9377777601 (Mr. Nilesh Kothari)
Fax No.:	91-281-2230505/ 2229643
E-Mail :	hhkothari@dmlgroup.in
Location:	Owned
Locality:	Commercial
Corporate Office :	504, Venus Atlantis Corporate Park, Prahlad Nagar Road, Satellite, Near S.G Road, Ahmedabad – 380015, Gujarat, India
Tel No.:	91-79-40082011/ 40082012
Fax No.:	91-79-40082014
Branch Office :	B-604, Sagar Tech Plaza, Sakinaka Junction, Andheri (East), Mumbai - 400075, Maharashtra, India
E-Mail :	info@dmlakhani.com
Area :	800 Sq. Ft.
Warehouse :	Located at: · Mumbai · Vashi

DIRECTORS

AS ON 25.09.2014

Name :

Mr. Chirag Harishkumar Lakhani

Designation :

Director

Address :

Vrundavan, Tapovansociety, Near Aminmarg, Rajkot - 360002, Gujarat, India

Date of Birth/Age :

23.08.1986

Qualification :

B. Com

PAN No. :

ACCPL9051G

Date of Appointment :

11.09.2004

DIN No.:

01624243

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	U55100GJ1988PTC011223	DML EXIM PRIVATE LIMITED	Director	11/09/2004	11/09/2004	-	Active	NO
2	U51100GJ2005PTC046358	DML WORLD TRADE PRIVATE LIMITED	Director	25/08/2008	25/08/2008	-	Active	NO
3	U27100GJ2011PTC066552	ADITYA ULTRA STEEL PRIVATE LIMITED	Director	27/07/2011	27/07/2011	26/03/2015	Active	NO
4	U51200GJ2012PTC072428	DML AGRO TRADE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
5	U51909GJ2012PTC072429	DEEPSTAR OVERSEAS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	-	Active	NO
6	U51100GJ2005PTC046782	D.R.B. COMMODITIES (INDIA) PRIVATE LIMITED	Director	15/05/2013	15/05/2013	-	Active	NO

Name :

Mr. Harishbhai Jayantilal Lakhani

Designation :

Director

Address :

Vrundavan, Tapovan, society, Near Amin Marg, Rajkot - 360002, Gujarat, India

Date of Birth/Age :

13.05.1959

Date of Appointment :

12.05.2003

PAN No. :

AAQPL3256P

DIN No.:

01658810

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	Company/ LLP Status	Defaulting status
1	U55100GJ1988PTC011223	DML EXIM PRIVATE LIMITED	Director	12/05/2003	12/05/2003	Active	NO
2	U51100GJ2005PTC046358	DML WORLD TRADE PRIVATE LIMITED	Director	14/07/2005	14/07/2005	Active	NO
3	U51100GJ2005PTC046782	D.R.B. COMMODITIES (INDIA) PRIVATE LIMITED	Director	16/09/2005	16/09/2005	Active	NO
4	U51200GJ2012PTC072428	DML AGRO TRADE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	Active	NO
5	U51909GJ2012PTC072429	DEEPSTAR OVERSEAS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	Active	NO
6	U51909GJ2012PTC072431	CDM ENTERPRISE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	Active	NO
7	U45203GJ2015PTC082117	SIX TWENTY REALTY PRIVATE LIMITED	Director	03/02/2015	03/02/2015	Active	NO

Name :

Mr. Darshan Harishkumar Lakhani

Designation :

Director

Address :

Vrundavan, Tapovan Society, Near Aminmarg, Rajkot - 360002, Gujarat, India

Date of Birth/Age :

23.08.1986

Qualification :

B. Com

Date of Appointment :

11.09.2004

PAN No. :

AACPL9050H

DIN No.:

01658879

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	Company/ LLP Status	Defaulting status
1	U55100GJ1988PTC011223	DML EXIM PRIVATE LIMITED	Director	11/09/2004	11/09/2004	Active	NO
2	U51100GJ2005PTC046358	DML WORLD TRADE PRIVATE LIMITED	Director	14/07/2005	14/07/2005	Active	NO
3	U51200GJ2012PTC072428	DML AGRO TRADE PRIVATE LIMITED	Director	23/10/2012	23/10/2012	Active	NO
4	U51909GJ2012PTC072429	DEEPSTAR OVERSEAS PRIVATE LIMITED	Director	23/10/2012	23/10/2012	Active	NO
5	U51100GJ2005PTC046782	D.R.B. COMMODITIES (INDIA) PRIVATE LIMITED	Director	15/05/2013	15/05/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Nilesh Kothari
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2014

Names of Shareholders	No. of Shares
Minaben Harishkumar Lakhani	181020
Narendrakumar Nanjibhai Davda	178000
Harishkumar Jayantilal Lakhani	190250
Dollyben Harishkumar Lakhani	190000
Prabhaben Jayantilal Lakhani	190000
Chiragbhai Harishkumar Lakhani	188500
Darshan Harishkumar Lakhani	190000
Bharatkumar Mathurdas Atari	4500
Jagdishkumar Kanjibhai Jobanputra	4500
Prafulkumar Mathurdas Atari	4500
Sureshkumar Mathurdas Atari	4500
Ajaykumar Pravinkumar Khimani	4500
Bhanumati Ratilal Jobanputra	4500
Bharatkumar G. Dave	4500
Dharmeshkumar Laxmidas Jobanputra	4500
Dhirajben Laxmidas Jobanputra	4500
Hinaben Bhaveshkumar Jobanputra	4500
Jaysukhlal Ratilal Chandarana	4500
Vinodbhai Chhotalal Karia	4500
Mukeshkumar Jayantilal Lakhani	4500
Nitaben Bharatbhai Dave	4500
Parag Pravinkumar Khiman	4500
Parulben Nileshkumar Jobanputra	4500
Pintukumar Pravinkumar Khimani	4500
Pravinkumar Manilal Khimani	4500
Rajeshkumar Manilal Khimani	4500
Varshaben Rajeshkumar Kotecha	4500
Nilesh Ratilal Jobanputra	7500
Pravinaben Narendra Davda	187500
Sejal Darshan Lakhani	190000
Vanitbhai Jadavjibhai Karia	140000
Veenaben Vanitbhai Karia	13500
Total	1936270

AS ON 25.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	89.85
Other top fifty shareholders	10.15
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Agricultural Products and Wind Power Generation

Products :

ITC Code No.	Product Descriptions
84128030	Wind Power Generation

Brand Names :

--

Agencies Held :

--

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Oriental Bank of Commerce
Branch:	Aum Planet, Ground Floor, Opposite Nirmala Convent School, Rajkot - 360001, Gujarat, 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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Million)	31.03.2012 (Rs. In Million)
SHORT TERM BORROWINGS
Working capital loans from banks	1172.407	993.105
Total	1172.407	993.105

Banking Relations :	--
Auditors :
Name :	N. M. Unadkat and Company Chartered Accountants
Address :	306-307, Everest Complex, Opposite Shastri Maidan, Subhash Road, Rajkot-360001, Gujarat, India
Income-tax PAN of auditor or auditor's firm :	AAFPU7460F
Memberships :	--
Collaborators :	--
Subsidiaries Companies :	· DML World Trade Private Limited (U51100GJ2005PTC046358) · D.R.B. Commodities (India) Private Limited (U51100GJ2005PTC046782) · DML Agro Trade Private Limited (U51200GJ2012PTC072428) · CDM Enterprise Private Limited (U51909GJ2012PTC072431) · Deepstar Overseas Private Limited (U51909GJ2012PTC072429)

CAPITAL STRUCTURE

AS ON 25.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,936,270	Equity Shares	Rs. 10/- each	Rs. 19.363 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	19.363	19.363	19.363
(b) Reserves & Surplus	381.551	328.919	158.472
(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)	400.914	348.282	177.835
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.282
(b) Deferred tax liabilities (Net)	12.067	12.099	6.962
(c) Other long term liabilities	0.000	0.000	136.330
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	12.067	12.099	143.574
(4) Current Liabilities
(a) Short term borrowings	1172.407	993.105	24.754
(b) Trade payables	400.608	222.154	147.158
(c) Other current liabilities	81.908	99.741	0.000
(d) Short-term provisions	0.157	2.418	21.456
Total Current Liabilities (4)	1655.080	1317.418	193.368
TOTAL	2068.061	1677.799	514.777
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	53.627	57.259	60.988
(ii) Intangible Assets	0.000	0.000	0.000
(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	67.915	6.325	6.325
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	5.708	2.434	1.007
(e) Other Non-current assets
Total Non-Current Assets	127.250	66.018	68.320
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	727.280	825.038	62.602
(c) Trade receivables	910.875	351.280	26.885
(d) Cash and cash equivalents	79.130	367.869	178.146
(e) Short-term loans and advances	223.526	67.594	178.824
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1940.811	1611.781	446.457
TOTAL	2068.061	1677.799	514.777

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue	9045.667	9725.360	6511.729
		Other Income	360.972	361.129	105.733
		TOTAL	9406.639	10086.489	6617.462
Less	EXPENSES
		TOTAL	9317.746	9820.032	6441.173
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		88.893	266.457	176.289
Less/ Add	DEPRECIATION/ AMORTISATION		9.544	10.332	1.105
	PROFIT/ (LOSS) BEFORE TAX		79.349	256.125	175.184
Less	TAX		26.717	85.678	61.281
	PROFIT/ (LOSS) AFTER TAX		52.631	170.448	113.903
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	8023.443	8673.528	6297.495
	Earnings Per Share (Rs.)		27.18	88.03	58.83

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012	31.03.2011
Current Maturities of Long term debt	0.000	0.282	0.000
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from (used in) Operations	(60.904)	(580.987)	1374.658

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	0.58	1.75	1.75
Return on Total Assets (PBT/Total Assets}	(%)	3.97	15.32	34.45
Return on Investment (ROI) (PBT/Networth)		0.20	0.74	0.99
Debt Equity Ratio (Total Debt/Networth)		2.92	2.85	0.14
Current Ratio (Current Asset/Current Liability)		1.17	1.22	2.31

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	19.363	19.363	19.363
Reserves & Surplus	158.472	328.919	381.551
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	177.835	348.282	400.914
Long-term borrowings	0.282	0.000	0.000
Short term borrowings	24.754	993.105	1172.407
Total borrowings	25.036	993.387	1172.407
Debt/Equity ratio	0.141	2.852	2.924

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	6511.729	9725.360	9045.667
		49.351	(6.989)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	6511.729	9725.360	9045.667
Profit	113.903	170.448	52.631
	1.75%	1.75%	0.58%

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	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
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	Yes
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	No
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	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10149582	09/02/2009	40,000,000.00	ORIENTAL BANK OF COMMERCE	'MANGAL BHAVAN', NIRMALA CONVENT SCHOOL ROAD BRANCH, RAJKOT - 360005, GUJARAT, INDIA	A59627406
2	90099994	29/11/2012 *	4,060,000,000.00	ORIENTAL BANK OF COMMERCE	AUM PLANET, GROUND FLOOR,, OPPOSITE. NIRMALA CONVENT SCHOOL, RAJKOT - 360001, GUJARAT, INDIA	B63370134
3	90096924	12/03/2013 *	7,480,000,000.00	ORIENTAL BANK OF COMMERCE	AUM PLANET, GROUND FLOOR, OPP. NIRMALA CONVENT S  CHOOL, RAJKOT - 360001, GUJARAT, INDIA	B72322977

* Date of charge modification

OPERATION

During the year, revenue from operations reported by Company amounted to Rs. 9045.667 Million as compared to Rs. 9725.360 Million of previous year 2011-12. Other income reported by Company amounted to Rs. 360.972 Million as compared to Rs. 361.128 Million of the previous year 2011-12. Further, the Company reported Net Profit after tax of Rs. 52.631 Million as compared to Rs. 170.447 Million of the previous year 2011-12. The management presents the financial results with an assurance to try at their level best to sustain consistency, increase profitability and improve the financial structure of the Company.

FIXED ASSETS:

· Land

· Building

· Office Equipment’s

· Computer Equipment’s

· Furniture Fixtures

· Vehicles

· Knowhow

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. 65.22
UK Pound	1	Rs. 99.93
Euro	1	Rs. 71.67

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	IND

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		30

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.