MIRA INFORM REPORT

Report No. :	346806
Report Date :	02.11.2015

IDENTIFICATION DETAILS

Name :	E I DUPONT INDIA PRIVATE LIMITED

Registered Office :	7^TH Floor, Tower C, DLF Cybergreens, Sector – 25, A DLF City, Phase – III, Gurgaon – 122002, Haryana
Tel. No.:	91-124-4091818 / 2540900

Country :	India

Financials (as on) :	31.03.2015 (Partial Details)

Date of Incorporation :	10.12.1998

Com. Reg. No.:	05-034086

Capital Investment / Paid-up Capital :	Rs.561.327 Million

CIN No.: [Company Identification No.]	U24299HR1998PTC034086

IEC No.:	0596020651

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAACE2462M

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Polymers, Crop Protection Products, Refinish Points, Seeds, Filaments, Non-Stick Coatings.

No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject was incorporated in the year 1998. It is well-established company having a satisfactory track record. The rating on company reflects steady year on year sales turnover growth along with decent profitability margin. Rating further takes into consideration on company strong position, comfortable debt protection metrics and liquidity position of the company. However, rating strengths is partially offset on volatility in raw material prices, fluctuation of the profit margin and working capital intensive nature of business. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. In view of aforesaid, 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 – 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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Navin
Designation :	Accountant
Contact No.:	91-40-66247000
Date :	26.10.2015

LOCATIONS

Registered Office / Corporate Office / Sales Office :	7^TH Floor, Tower C, DLF Cybergreens, Sector – 25, A DLF City, Phase – III, Gurgaon – 122002, Haryana, India
Tel. No.:	91-124-4091818 / 2540900
Fax No.:	91-124-2540889 / 90 / 91 / 92
E-Mail :	sanjit-kaur.batra@dupont.com
Website :	http://www.dupont.com
Location :	Owned
Locality :	Commercial

Corporate and Sales Offices 2:	Elent Software City, TS140 Block 2&9, Module 31, 3rd Floor, Next to Tidel Park, Rajiv Gandhi Road, Taramani Chennai – 600113, Tamil Nadu, India
Tel No.:	91-44-4397 2800

Manufacturing Plants 1 :	Melur Road, Therkutheru, Madurai – 625122 Tamil Nadu, India
Tel. No.:	91-452-2420278
Fax No.:	91-452-2420351

Manufacturing Plants 2 :	Plot No.KV1, GIDC, Savli, Alindra, Vadodra- 391775, Gujarat, India
Tel. No.:	91-2667-666000
Fax No.:	91-2667-264220

Innovation and Knowledge Centers :	ICICI Knowledge Park, Genome Valley, Survey No.542/2, DS -9 Turkapally (Village) Shameerpet (Mandal), Ranga Reddy, (District), Hyderabad- 500078, Telangana, India
Tel. No.:	91 -40-66247000
Fax No.:	91-40-23480410/411/413

DuPont Nutrition and Health Innovation Application Center	8th Floor, Tower-A, DLF Cyber Greens, Sec-25-A, DLF City Phase-III, Gurgaon, Haryana-122002
Tel No.:	91-124-4503801

Shared Services Center 1 :	6th Floor, Tower 1, Waverock Building, SY No. 115(P), Nanakramguda Village, Serilingampally, Mandal, Rangareddi, Hyderabad - -500081, Telangana, India
Tel No.:	91-40-67077000

Shared Services Center 2 :	81,82,83, 8th floor, 2 North Avenue, Maker Maxity, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
Board Line no:	91-22-61765000/ 22- 40716000

Shared Services Center 3 :	1421, Level 14, Concorde Tower, U B City, 24 Vittal Mallya Road, Bangalore 560001, Karnataka, India

Shared Services Center 4 :	EP & I & F Facility (Savli-1) Plot No.11, Savli GIDC Village, Manjusar, District, Vadodara – 391775, Gujarat, India
Tel. No.:	91-2667-664000
Fax No.:	91-2667-264214

DIRECTORS

As on 29.09.2014

Name :

Mr. Ram Krishna Mudholkar

Designation :

Whole-Time Director

Address :

H-37/3, Dlf Qutab Enclave, Phase I, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

10.04.1959

Date of Appointment :

27.10.2004

DIN No.:

00012850

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	U91110DL1980GAP216937	CROPLIFE INDIA	Director	14/11/2003	14/11/2003	-	Active	NO
2	U24299HR1998PTC034086	E I DUPONT INDIA PRIVATE LIMITED	Whole-time director	27/10/2004	27/10/2004	-	Active	NO

Name :

Mr. Anurag Srivastava

Designation :

Whole-Time Director

Address :

Flat No. 1202, Tower 9, The Close South Nirvana Country, Sector - 50, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

26.07.1961

Date of Appointment :

12.12.2014

DIN No.:

02591063

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	U01111TG1988PTC063698	PHI SEEDS Private LIMITED	Whole-time director	18/05/2009	18/05/2009	08/02/2012	Active	NO
2	U24299HR1998PTC034086	E I DUPONT INDIA PRIVATE LIMITED	Whole-time director	12/12/2014	28/02/2012	-	Active	NO
3	U29120MH2005PTC156582	MECS INDIA PRIVATE LIMITED	Director	28/09/2012	29/08/2012	16/01/2015	Active	NO

Name :

Mr. Balvinder Singh Kalsi

Designation :

Whole-Time Director

Address :

H-33/39, Dlf Qutab Enclave, Phase I, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

22.08.1957

Date of Appointment :

12.12.2014

DIN No.:

00012784

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	U24299HR1998PTC034086	E I DUPONT INDIA PRIVATE LIMITED	Whole-time director	12/12/2014	23/12/2005	-	Active	NO
2	U74900TG2008PTC060867	E.I. DuPont Services Centre India Private Limited	Director	08/09/2008	08/09/2008	04/05/2009	Active	NO
3	U72200TN2000PTC044715	COASTAL TRAINING TECHNOLOGIES INDIA PRIVATE LIMITED	Director	25/09/2009	22/12/2008	13/01/2010	Active	NO
4	U72200TN2002PTC048937	COASTAL TRAINING TECHNOLOGIES PRIVATE LIMITED	Director	25/09/2009	22/12/2008	13/01/2010	Strike off	NO

Name :

Mr. Karen A Crossan

Designation :

Whole-Time Director

Address :

Flat No A-13, The Summit DLF Golf Course Road, DLF, Phase V, Gurgoan - 122009, Haryana, India

Date of Birth/Age :

29.12.1950

Date of Appointment :

12.12.2014

DIN No.:

06954802

Name :

Mr. Sanjit Kaur Batra

Designation :

Director

Address :

Flat No. 903, Tower C-2, The Legend, Sector 57 IN, Sushant Lok Phase-3, Gurgaon - 122011, Haryana, India

Date of Appointment :

24.09.2015

DIN No.:

06998913

KEY EXECUTIVES

Name :	Mr. Navin
Designation :	Accountant

Name :	Mr. Rajeev A. Vaidya
Designation :	Chairman of the Board and President of South Asia and ASEAN

Name :	Mr. Balvinder Singh Kalsi
Designation :	President - South Asia

Name :	Mr. D. S. Kim
Designation :	President of Asia Pacific Region
Date of Birth/Age :	68 Years

Name :	Mr. Yasuhiko Ohashi
Designation :	General Manager for The Dupont Innovation Center

Name :	Mr. Samar Bhatia
Designation :	Company Secretary
Address :	24, Samrat Apartments, B-11, Vasundhara Enclave, Delhi - 110096, India
Date of Appointment :	09.03.2015
PAN No.:	AHGPB2519N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders		No. of Shares
Dupont Far East INC		20
DUpont India Limited		55947880
E.I. Dupont DE Nemours and Company		184764
Total		56132664

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

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	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Polymers, Crop Protection Products, Refinish Points, Seeds, Filaments, Non-Stick Coatings.

Products / Services :

Item CETA Code No.	Product Description
2903	Suva
3808	Insecticides
3907	Chemical- Plastic and Polymers
5404	Synthetic Yarns
5407	Synthetic Yarns or Fibers
3904	Organic Chemicals

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cash and Cheque (30 / 60 / 90 Days)

Purchasing :

Cash and Cheque (30 / 60 / 90 Days)

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

500 (Approximately)

Bankers :

Bank Name	Citi Bank
Branch	Sansad marg, New Delhi, 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

Auditors :
Name :	YS Thakkar and Company Chartered Accountants
Address :	305, Ujjval Complex, 3rd Floor, Centre Wing, Near Akota Stadium, Akota, Vadodara, Gujarat, India
E-Mail :	ysthakar@gmail.com
PAN N Income-tax PAN of auditor or auditor's firm :	AABFY0908L

Memberships :	Not Available

Collaborators :	Not Available

Ultimate Holding company :	E.I. Du Pont De Nemours and Company Inc., United States of America

Holding company :	DuPont India Limited, United States of America

Fellow Subsidiaries:	Antec International Limited, United Kingdom Du Pont (Australia) Limited, Australia Du Pont (Korea) Inc., Korea Du Pont (Thailand) Limited, Thailand Du Pont Company (Singapore) Pte Limited., Singapore Du Pont de Nemours (Belgium) BVBA, Belgium Du Pont de Nemours (Deutschland) GmbH, Germany Du Pont de Nemours (Nederland) B.V., Netherlands Du Pont de Nemours International S.A, Switzerland Du Pont Do Brasil S.A., Brazil Du Pont Far East (Philippines Branch), Philippines Du Pont Far East, Inc., United States of America Du Pont Kabushiki Kaisha, China Du Pont Taiwan Limited, Taiwan DuPont (Changshu) Fluoro Technology Co., China DuPont (China) Research & Development Co Limited, China DuPont (New Zealand) Limited, New Zealand DuPont (Shenzhen) Industrial Company Limited, China DuPont 3F Fluorochemicals (Changshu) Company, Limited China DuPont Agricultural Chemicals Limited, China DuPont Asturias Industrial S.L. Spain Dupont China Holding Company Limited, China DuPont China Limited China DuPont de Nemours (Luxembourg) SARL Luxembourg Dupont Filaments - Americas, LLC United States of America Dupont Filaments Europe, BV Nederland DuPont International Operations Sarl Europe DuPont Malaysia SDN BHD, Malaysia DuPont Mexico S.A. de C.V., Mexico DuPont Performance Coatings (Shanghai) Co, China DuPont Performance Coatings Austria GmbH, Austria DuPont Agricultural Caribe Industries Limited., Puerto Rico DuPont Authentication Inc., United States of America DuPont Pakistan Operations (Pvt.) Limited, Pakistan DuPont Performance Coatings GmbH and Company, United States of America DuPont Performance Elastomers B.V., Nederland DuPont Surfaces (Guangzhou) Co., Limited, China DuPont Titanium Technology (Taiwan) Co., Taiwan Dupont Trading (Shanghai) Co Limited, China DuPont Vietnam Company Limited, Vietnam DuPont Xingda Filaments Company Limited, China E.I. du Pont Canada Company, Canada E.I. DuPont Services Centre India Private Limited, India Liqui-Box Corporation, United States of America PHI Seeds Limited, India Pioneer Overseas Corporation, India PT DuPont Agricultural Products Indonesia, Indonesia Solae Company India Private Limited, India DuPont Apollo Limited, China Coastal Training Technologies India Private Limited, India Electronic Materials Du Pont Dongguan Limited, China Du Pont Products S.A., Switzerland Du Pont Apollo (Shenzhen) Limited, China Danisco US Inc., US Axalta Coating Systems India Private Limited (formerly known as DuPont Performance Coatings India Private Limited,) India Axalta Coating Systems Belgium BVBA, Belgium Danisco India Pvt. Limited, India DuPont -MRC Co. Limited, India DuPont Lanka Private Limited, Sri Lanka DuPont SA DE CV, Latin America Danisco Singapre PTE Limited, Singapore MECS INDIA Private Limited, India DuPont DACI Beteiligungs GmbH Germany Belco Technologies Corporation, United States of America

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

250000000	Equity Shares	Rs.10/- each	Rs.2500.000 Million
500000	Preference Shares	Rs.100/- each	Rs.50.000 Million
	Total		Rs.2550.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

56132664	Equity Shares	Rs.10/- each	Rs.561.327 Million

FINANCIAL DATA

[all figures are in Rupees Million]

PARTIAL DETAILS 2015

FINANCIAL POSITION

Particulars	31.03.2015 (Partial Details)
Share capital	561.327
Reserves and surplus	4626.482
Long-term borrowings	688.270
Gross fixed assets	6594.837
Net fixed assets	4856.443
Current assets	9382.790
Current liabilities	5774.804
Net current assets	3607.786
Capital employed	7961.337
Net worth	5044.717
Value added of company	5317.119
Net revenue from operations of company	28757.328
Profit before tax	1977.688

	31.03.2015 (Partial Details)
Gross revenue from operations of company	30568.997
Excise and other duties of company	1811.669
Net revenue from operations of company for value addition	38757.328
Adjustments in work-in-progress and finished stocks of company	(120.264)
Cost of materials consumed of company	8395.390
Cost of process materials or chemicals of company	206.028
Cost of stores and spares consumed of company	38.662
Cost of utilities of company	75.335
Cost of other bought out inputs of company	14604.530
Total cost of bought out inputs of company	23319.945
Value added of company	5317.119
Other incomes of company	199.120
Extraordinary income	0.000
Earnings available for distribution	5516.240
To employees as salaries, wages, retirement benefits and others	2649.813
To shareholders as dividend
Funds retained by company	1769.170
To government as taxes	678.692
Other distribution of earnings	418.564
Total distribution of earnings	5516.240

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	561.327	561.327	561.327
(b) Reserves & Surplus	3327.487	2729.458	3725.394
(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)	3888.814	3290.785	4286.721

(3) Non-Current Liabilities
(a) long-term borrowings	662.255	652.380	609.300
(b) Deferred tax liabilities (Net)	126.066	175.849	209.958
(c) Other long term liabilities	27.123	8.450	8.928
(d) long-term provisions	83.176	72.880	54.681
Total Non-current Liabilities (3)	898.620	909.559	882.867

(4) Current Liabilities
(a) Short term borrowings	3272.514	3406.507	2380.334
(b) Trade payables	5999.583	6024.734	7652.487
(c) Other current liabilities	1202.625	389.260	321.511
(d) Short-term provisions	163.507	105.812	122.635
Total Current Liabilities (4)	10638.229	9926.313	10476.967

TOTAL	15425.663	14126.657	15646.555

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4638.830	3638.596	3654.001
(ii) Intangible Assets	3.060	0.545	58.705
(iii) Capital work-in-progress	662.312	1053.999	338.475
(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	153.944	116.618	670.367
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5458.146	4809.758	4721.548

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4018.046	3627.091	4527.784
(c) Trade receivables	4703.181	4843.100	5326.917
(d) Cash and cash equivalents	172.192	27.513	137.369
(e) Short-term loans and advances	865.846	699.799	740.794
(f) Other current assets	208.252	119.396	192.143
Total Current Assets	9967.517	9316.899	10925.007

TOTAL	15425.663	14126.657	15646.555

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from Operations	25875.850	25760.250	26076.140
	Other Income	78.940	325.370	17.410
	TOTAL	25954.790	26085.620	26093.550

Less	TOTAL EXPENSES	24676.440	24736.580	24363.470

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1278.350	1349.040	1730.080

Less/ Add	DEPRECIATION/ AMORTISATION	358.450	343.260	305.870

	PROFIT/ (LOSS) BEFORE TAX	919.900	1005.780	1424.210

Less	TAX (H)	(2251.320)	(3296.240)	(2144.910)

	PROFIT/ (LOSS) AFTER	3171.220	4302.020	3569.120

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	775.967	966.681	1287.222
	Commission income	911.185	837.968	875.189
	Service income	2315.461	2181.208	1690.130
	TOTAL EARNINGS	4002.613	3985.857	3852.541

	IMPORTS
	Raw Materials, packing materials, stores, spares and consumables	6502.052	6062.213	6088.985
	Traded goods	7972.783	8127.729	9456.854
	Capital Goods	373.883	644.925	143.462
	TOTAL IMPORTS	14848.718	14834.867	15689.301

	Earnings / (Loss) Per Share (Rs.)	10.00	10.00	10.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	722.460	0.000	0.000
Cash generated from operations	NA	650.586	954.933
Net cash flow from operating activity	NA	350.586	564.933

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	12.26	16.70	13.69

Operating Profit Margin (PBIDT/Sales)	(%)	4.94	5.24	6.63

Return on Total Assets (PBT/Total Assets}	(%)	6.23	7.69	9.30

Return on Investment (ROI) (PBT/Networth)		0.24	0.31	0.33

Debt Equity Ratio (Total Debt /Networth)		1.01	1.23	0.70

Current Ratio (Current Asset/Current Liability)		0.94	0.94	1.04

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	561.327	561.327	561.327
Reserves & Surplus	3725.394	2729.458	3327.487
Net worth	4286.721	3290.785	3888.814

long-term borrowings	609.300	652.380	662.255
Short term borrowings	2380.334	3406.507	3272.514
Total borrowings	2989.634	4058.887	3934.769
Debt/Equity ratio	0.697	1.233	1.012

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	26076.140	25760.250	25875.850
		(1.211)	0.449

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	26076.140	25760.250	25875.850
Profit	3569.120	4302.020	3171.220
	13.69%	16.70%	12.26%

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	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	Yes
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	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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

COMPANY OVERVIEW

E.I.DuPont India Private Limited manufactures polymers, crop protection products, refinish paints, seeds, filaments, and non-stick coatings. It offers DuPont Corian, a solid surface used to create countertops, wall cladding, furniture, and lighting products; nonstick coating systems; and DuPont Tyvek, a nonwoven technology solution. The company also provides titanium technology solutions; DuPont SentryGlas interlayers to create glass that protects against bigger storms, harder impacts, and heavier loads; DuPont Sorona renewably sourced polymers; Kevlar aramid fiber; and DuPont Surlyn for pouches and seals, lids, bottles, jars, caps, films, wraps, and consumer brands. In addition, it offers DuPont Nomex, a heat and flame resistant fiber; and filaments, such as abrasive filaments, cosmetic filaments, industrial filaments, paintbrush filaments, suspension fabrics, and toothbrush filaments. The company serves agriculture, automotive, building and construction, electronics, energy solutions, food, healthcare, manufacturing, packaging and graphic arts, plastics, safety and protection, and textile and apparel industries. The company was founded in 1802 and is based in Gurgaon, India. E.I. DuPont India Private Limited operates as a subsidiary of E. I. du Pont de Nemours and Company.

PERFORMANCE REVIEW

DuPont India recorded growth of 5.8% in Gross Sales as compared to last year after excluding sales from discontinued business of DuPont Performance Coatings. Major contribution for sales growth was from Crop Protection Business which continues to improve customer reach through increase in retailer network and strong product performance. Other business like Electronics and communication and Performance Polymers also contributed in revenue growth over last year. Whereas, Titanium Technologies and Chemical and Fluoro products business units recorded decline in sales due to lower demand and price competition.

Customer centric approach and key Account relationships are helping the company to position itself as solution provider contributing to the growth. Marketing and Channel strategies as well helped the company to create a value proposition for the customer leading to the increased revenue. There are multiple projects going on within the company which would bring sustainable growth in the years to come.

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from others	662.255	652.380

Short-term borrowings
Loans repayable on demand	3272.514	3406.507

Total	3934.769	4058.887

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Claims against company not acknowledged as debt	1220.076	703.589
Guarantees	583.627	562.045
Other money for which company is contingently liable	0.000	0.000

FIXED ASSETS

Land
Buildings
Plant and equipment
Furniture and fixtures
Vehicles
Motor vehicles
Office equipment
Computer equipments
Leasehold improvements

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.71.66

INFORMATION DETAILS

Information Gathered by :	PRP

Analysis Done by :	KAS

Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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

MIRA INFORM REPORT

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

Unit