MIRA INFORM REPORT

Report No. :	349003
Report Date :	06.11.2015

IDENTIFICATION DETAILS

Name :	SREE ANANDHAKUMAR MILLS LIMITED (w.e.f 03.05.1991)

Formerly Known As :	THE ANANDAKUMAR MILLS LIMITED

Registered Office :	307, Sathy Road, Saravanampatti, Coimbatore - 641035, Tamil Nadu
Tel. No.:	91-422-669722

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	26.11.1955

Com. Reg. No.:	18-000007

Capital Investment / Paid-up Capital :	Rs. 40.000 Million

CIN No.: [Company Identification No.]	U17111TZ1955PLC000007

IEC No.:	3204019861

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

PAN No.: [Permanent Account No.]	AADCS0690J

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturing, Exporting and Importing of Cotton Yarn.

No. of Employees :	200 (Approximately)

RATING and COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company incorporated in the year 1995. It has moderate track. The rating takes into consideration improvement in the capital structure of the company. However, the company has decreasing cash level from its operations which may hamper the liquidity profile of the company. The management has reported growth in the revenue base but has reported drastic decline in the net profit in the year 2014. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution.

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 (GENERAL DETAILS)

Name :	Ms. Sofia
Designation :	Accounts Manager
Contact No.:	91-422-2669722
Date :	05.11.2015

LOCATIONS

Registered Office/ Factory :	307, Sathy Road, Saravanampatti, Coimbatore - 641035, Tamil Nadu, India
Tel. No.:	91-422-669722
Mobile No.:	Not Available
Fax No.:	91-422-669233
E-Mail :	samlindia@gmail.com
Area :	Owned
Location :	Commercial

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Selvapathy Venkataswamynaidu

Designation :

Director

Address :

5, Ramanathapuram Co-Operative Colony, Uppilipalayam, Coimbatore - 641015, Tamil Nadu, India

Date of Birth/Age :

15.05.1950

Date of Appointment :

27.12.2004

DIN No.:

00129267

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	U17115TZ1990PTC002663	PONGALUR PIONEER TEXTILES PRIVATE LIMITED	Managing director	03/04/1990	03/04/1990	-	Active	NO
2	U17111TZ1983PLC001281	DURAIRAJ MILLS LIMITED	Director	27/03/1997	27/03/1997	15/10/2008	Active	NO
3	U17111TZ1994PTC005455	SRI VISAKA TEXTILES PRIVATE LIMITED	Director	27/12/2001	27/12/2001	-	Active	NO
4	U17111TZ1994PTC005491	MILLION SPINNERS PRIVATE LIMITED	Director	30/09/2002	30/09/2002	-	Active	NO
5	U17111TZ2004PTC011218	RUCKMANI AMMAL COTSPIN PRIVATE LIMITED	Managing director	05/07/2004	05/07/2004	-	Active	NO
6	U17111TZ1955PLC000007	SREE ANANDHAKUMAR MILLS LIMITED	Director	27/12/2004	27/12/2004	-	Active	NO
7	U40108TZ2007PTC014116	SELWIND INDUSTRIES PRIVATE LIMITED	Director	27/12/2007	27/12/2007	-	Active	NO

Name :

Mr. Rathindran Venkataram

Designation :

Managing Director

Address :

3/12, Gandhi Nagar, K Vadamadurai, Coimbatore - 641017, Tamil Nadu, India

Date of Birth/Age :

09.01.1947

Date of Appointment :

27.06.2014

DIN No.:

00662958

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	U17111TZ1955PLC000007	SREE ANANDHAKUMAR MILLS LIMITED	Managing director	27/06/2014	21/02/2005	-	Active	NO
2	U31100TZ2009PTC015660	ENERTECH POWER MACHINES PRIVATE LIMITED	Managing director	23/03/2010	08/12/2009	-	Active	NO
3	U17111TZ2014PTC020866	SRIVARI SPINTEX PRIVATE LIMITED	Director	13/11/2014	13/11/2014	-	Active	NO

Name :

Mr. Venkatasamynaidu Jaganathan

Designation :

Director

Address :

12, Thiru Nagar, Singanallur, Coimbatore - 641005, Tamil Nadu, India

Date of Birth/Age :

13.01.1937

Date of Appointment :

27.12.2004

DIN No.:

01597816

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	U27320TZ1980PTC000922	BRITE METALS PRIVATE LIMITED	Managing director	22/03/1980	22/03/1980	-	Active	NO
2	U17115TZ1990PTC002642	PARTHI TEXTILES PRIVATE LIMITED	Managing director	08/03/1990	08/03/1990	-	Active	NO
3	U17111TZ1991PLC003273	SADHANA SPINNERS LIMITED	Director	20/05/1991	20/05/1991	-	Active	NO
4	U67120TZ1994PTC005635	UTHRA SECURITIES PRIVATE LIMITED	Director	28/12/1994	28/12/1994	-	Active	NO
5	U17111TZ1955PLC000007	SREE ANANDHAKUMAR MILLS LIMITED	Director	27/12/2004	27/12/2004	-	Active	NO
6	U70200TZ2011PLC017272	CODISSIA INDUSTRIAL PARK LIMITED	Director	21/07/2011	21/07/2011	-	Active	NO

Name :

Mr. Mettupalayam Ramamoorthy Rathindran

Designation :

Managing Director

Address :

3/570, Old No.3/12, Gandhinagar, K Vadamadurai, Coimbatore - 641017, Tamil Nadu, India

Date of Appointment :

27.06.2014

DIN No.:

01777846

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	U21012AP1990PLC012039	VAMSHADHARA BOARDS AND PAPERS LIMITED	Director	27/11/1991	27/11/1991	-	Active	NO
2	U17111TZ1955PLC000007	SREE ANANDHAKUMAR MILLS LIMITED	Managing director	27/06/2014	27/12/2004	-	Active	NO
3	U17111TZ1983PLC001281	DURAIRAJ MILLS LIMITED	Director	28/09/2007	28/09/2007	21/04/2012	Active	NO
4	U31100TZ2009PTC015660	ENERTECH POWER MACHINES PRIVATE LIMITED	Director	08/12/2009	08/12/2009	-	Active	NO
5	U17111TZ2014PTC020866	SRIVARI SPINTEX PRIVATE LIMITED	Director	13/11/2014	13/11/2014	-	Active	NO

Name :

Mr. Kondasamy Naidu Narayanasamy

Designation :

Director

Address :

Old No. 10, New No. 5, Ramananthan Nagar, Saravanampatti, Coimbatore - 641035, Tamil Nadu, India

Date of Appointment :

20.08.2010

DIN No.:

01822458

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	U17111TZ1989PTC002461	MICRRO COTSPINN INDIA PRIVATE LIMITED	Director	19/06/1989	19/06/1989	-	Active	NO
2	U17111TZ1993PTC020519	SHREE M.T.K.TEXTILES PRIVATE LIMITED	Director	21/01/2003	21/01/2003	22/08/2012	Active	NO
3	U17111TZ1955PLC000007	SREE ANANDHAKUMAR MILLS LIMITED	Director	20/08/2010	20/08/2010	-	Active	NO
4	U37102TZ1998GAP008524	Tamil Nadu Electricity Consumers' Association	Director	19/07/2012	19/07/2012	-	Active	NO
5	U17111TZ2012PLC018705	COTTON SOURCING COMPANY LIMITED	Director	31/08/2012	31/08/2012	-	Active	NO

Name :	Mr. Venkatapathy Lalitha
Designation :	Director
Address :	3/570, Old No.3/12, Gandhinagar, K Vadamadurai, Coimbatore - 641017, Tamil Nadu, India
Date of Birth/Age :	10.06.1950
Date of Appointment :	21.02.2005
DIN No.:	01825898

KEY EXECUTIVES

Name :	R. Venkatswaran
Designation :	Company Secretary
Qualification :	B.com, F.C.S., PGDCA

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

LIST OF SHAREHOLDERS DETAILS FILE IS ATTACHED.

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	99.00
Other top fifty shareholders	1.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, Exporting and Importing of Cotton Yarn.

Products :	Cotton Yarn.

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Cash, Cheque and Credit

Purchasing :	Cash, Cheque and Credit

PRODUCTION STATUS NOT AVAILABLE AS ON 31.03.2014

PARTICULARS		31.03.2014	31.03.2013
Production:
Cotton Yarn	(Kgs)	14,17,894	10,83,345
Turnover:
Cotton Yarn	(Kgs)	14,63,984	10,30,849
Waste	(Kgs)	6,53,396	4,55,201
Raw materials Consumed:
Cotton	(Kgs)	21,00,684	15,68,134
	(Rs. In Million)	269.424	170.788

Opening and Closing Stock of Goods produced:
Cotton Yarn:
Opening Stock	(Kgs)	1,45,545	85,649
Closing Stock	(Kgs)	1,04,254	1,45,545

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 :

Wholesalers, Retailers and End Users

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 :

200 (Approximately)

Bankers :

Bank Name	Corporation Bank
Branch	Sme Branch, SF No. 178-180 Sathy Road, Saravanampatti, Coimbatore - 641035, 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 (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Term Loans
From Banks	118.982	151.007
Other Loans and Advances	31.200	14.114

SHORT-TERM BORROWINGS
Corporation Bank CC A/c No.80004	112.635	56.887
Total	262.817	222.008

Auditors :
Name :	R. Krishnamurthi Chartered Accountant
Address :	1533, Trichy Road, Richmond Hospital Compound, Coimbatore - 641018, Tamil Nadu, India
PAN No. of Auditors Firm:	AABFR6246E

Memberships :	Not Divulged

Collaborators :	Not Divulged

Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

4,000,000	Equity Shares	Rs.10/- each	Rs. 40.000 Million

Issued, Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount

4,000,000	Equity Shares	Rs.10/- each	Rs. 40.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	40.000	40.000	40.000
(b) Reserves and Surplus	527.227	482.410	123.141
(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)	567.227	522.410	163.141

(3) Non-Current Liabilities
(a) long-term borrowings	160.182	165.121	160.151
(b) Deferred tax liabilities (Net)	2.985	5.004	8.362
(c) Other long term liabilities	0.000	5.612	5.666
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	163.167	175.737	174.179

(4) Current Liabilities
(a) Short term borrowings	112.635	56.887	45.359
(b) Trade payables	12.554	12.477	8.482
(c) Other current liabilities	7.471	6.935	2.534
(d) Short-term provisions	6.700	11.106	6.754
Total Current Liabilities (4)	139.360	87.405	63.129

TOTAL	869.754	785.552	400.449

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	674.304	641.021	313.521
(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	0.357	0.105	0.005
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	13.300	9.077	7.821
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	687.961	650.203	321.347

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	111.608	67.169	46.763
(c) Trade receivables	53.546	44.206	12.958
(d) Cash and cash equivalents	0.096	0.200	0.867
(e) Short-term loans and advances	4.825	14.970	9.486
(f) Other current assets	11.718	8.804	9.028
Total Current Assets	181.793	135.349	79.102

TOTAL	869.754	785.552	400.449

PROFIT and LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	542.667	382.205	225.269
	Other Income	2.123	1.473	7.913
	TOTAL SALES	544.790	383.678	233.182

Less	EXPENSES
	Cost of Materials Consumed	403.447	272.983	159.785
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	2.823	(21.744)	31.399
	Employees benefits expense	28.281	24.282	12.094
	Other expenses	31.333	38.308	25.478
	TOTAL EXPENSES	465.884	313.829	228.756

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	78.906	69.849	4.426

Less	FINANCIAL EXPENSES	28.332	26.932	29.291

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	50.574	42.917	-24.865

Less	DEPRECIATION/ AMORTISATION	38.435	33.304	20.718

	PROFIT/ (LOSS) BEFORE TAX	12.139	9.613	-45.583

Less	TAX	4.967	-1.558	2.301

	PROFIT/ (LOSS) AFTER TAX	7.172	11.171	-47.884

	EARNINGS / (LOSS) PER SHARE (RS.)	2.00	3.00	-12.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Cash generated from (Used) operations	NA	NA	NA
Cash generated from Operating Activities	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.32	2.92	-21.26

Operating Profit Margin (PBIDT/Sales)	(%)	14.54	18.28	1.96

Return on Total Assets (PBT/Total Assets}	(%)	1.40	1.22	-11.38

Return on Investment (ROI) (PBT/Networth)		0.02	0.02	-0.28

Debt Equity Ratio (Total Debt /Networth)		0.48	0.42	1.26

Current Ratio (Current Asset/Current Liability)		1.30	1.55	1.25

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	40.000	40.000	40.000
Reserves and Surplus	123.141	482.410	527.227
Net worth	163.141	522.410	567.227

long-term borrowings	160.151	165.121	160.182
Short term borrowings	45.359	56.887	112.635
Total borrowings	205.510	222.008	272.817
Debt/Equity ratio	1.260	0.425	0.481

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	225.269	382.205	542.667
		69.666	41.983

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	225.269	382.205	542.667
Profit	(47.884)	11.171	7.172
	(21.26%)	2.92%	1.32%

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)	Yes
16	No. of employees	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDUSTRIAL SCENARIO:

The growth in global economy which remained subdued in the first half of FY 2013- 14 improved in the second half on account of export rebound in emerging market economies. While it is expected that the recovery in advanced economies could lead to a trade growth of around 4.7% in 2014, it would still continue to remain below the 20 year average. Persistent inflationary pressure, low investments due to policy inaction coupled with high current account deficit saw the Indian GDP growth at sub 5 % level. The FY 2013-14 has been a challenging year for the textile industry due to volatile yarn and cotton prices. Exports of cotton yarn to china have slowed down on the back of Chinese currency depreciation and uncertainties on handling large reserves of cotton in the coming season.

REVIEW OF OPERATIONS:

The company has registered a turnover growth of 40% over the previous year. Though the yarn prices witnessed an uptrend in the first half of FY 2013-14, in comparison with FY 2012-13, the cotton price increases have neutralized the benefits that accrued out of yarn price increase. The power situation in Tamil Nadu continued to affect the performance of the company. The company has to rely on higher cost sources like self-generation and third party power. Evacuation of wind power had been an issue contributing to the increased cost in power. There has been a shortage in availability of local labour and hence increased dependency on labour from other states resulted in higher costs. There was an increase of 16,786 Spindles bringing the total number of Spindles operated to 67,680 and also the company has purchased one wind electric generator of the capacity 225 KVA during the FY 2013-2014. The Directors wish to inform that the entire cost of expansion and procurement of wind electric generator was met by the internal generation of funds. The operational performance of the Company during the year was satisfactory. There was an overall improved utilization which has resulted in an increased volume of Production of 40%, compared to the Previous Year. The Company continued to sell its products in the indigenous and export Market.

OUTLOOK:

The projection of global economic growth, as per International Monetary Fund, is estimated at 3.7% for 2014 and 3.9% for 2015. Though the predictions are good for export yarn market, the cotton rates could have a say in the quantum of exports. In the ensuring cotton season, India is likely to be affected by import restrictions in China. In spite of higher domestic production of 385 lakh bales for 2013-14 season, the prices have ruled high. Even though the outlook for the short term remains uncertain with the various challenges being faced by the companies operating in the industry, the long term outlook remains robust.The Management is continuing to undertake diligent efforts to step up the performance of the Company and it is expected that the reinforced and dedicated efforts would certainly bring about an improvement in operational growth in future.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans from Directors	10.000	0.000
Total	10.000	0.000

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10337009	23/12/2014 *	342,100,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	C42056226
2	10268894	05/02/2011	54,000,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	B06250872
3	10219158	18/12/2010 *	40,500,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	B04457891
4	10172821	18/12/2010 *	33,400,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	B04455747
5	10172822	18/12/2010 *	6,000,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	B04456950
6	10044064	18/12/2010 *	30,000,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	B04454591
7	10000572	18/12/2010 *	30,000,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	B04453494
8	90006979	05/02/2011 *	140,000,000.00	CORPORATION BANK	SME BRANCH, SF NO.178-180 SATHY ROAD, SARAVANAMPA TTI, COIMBATORE, TAMIL NADU - 641035, INDIA	B06250112
9	90006550	07/11/1990	4,500,000.00	INDUSTRIAL FINANCE CORPORATION OF INDIA	16; SANSAD MARG, BANK OF BARODA BUILDING, NEW DEL HI, DELHI - 110001, INDIA	-
10	90006508	10/07/1989 *	2,200,000.00	INDUSTRIAL FINANCE CORPORATION OF INDIA	16; SANSAD MARG, BANK OF BARODA BUILDING, NEW DEL HI, DELHI - 110001, INDIA	-

FIXED ASSETS

Land
Building
Plant and Equipments
Plant and Equipments – Unit
Wind Mill
Office and Miscellaneous
Electrical Fittings
Other Assets
Motor Vehicles
Computer

CMT REPORT (Corruption, Money Laundering and 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. 65.68
UK Pound	1	Rs. 101.02
Euro	1	Rs. 71.35

INFORMATION DETAILS

Information Gathered by :	KMN

Analysis Done by :	KIN

Report Prepared by :	SYL

SCORE and 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	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		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 and 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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