MIRA INFORM REPORT

Report No. :	349131
Report Date :	14.11.2015

IDENTIFICATION DETAILS

Name :	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED
Registered Office :	Punjstar Premises, Kalkaji Industrial Area, Kalkaji, New Delhi- 110019
Tel. No.:	91-1795-308175 91-11-30882901/ 30882842/ 30882900
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.01.2005
Com. Reg. No.:	55-131798
Capital Investment / Paid-up Capital :	Rs. 53.333 Million
CIN No.: [Company Identification No.]	U24119DL2005PLC131798
IEC No.:	0504079751
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCI3194H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Supplying of thermal insulation and related products like ceramic fibers etc.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary “Lloyd Insulations India Limited.” It is an established company incorporated in the year 2005 having good track record. Turnover and profit of the company has declined during FY 2014. However, the company possesses an above average financial risk profile marked by healthy net worth base along with comfortable liquidity position and favorable gap between trade payables and trade receivables. Further, the rating also takes into consideration good profit margin of the company. The rating also derives strength from its holding company and its experienced management. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitment. 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	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	ICRA
Rating	Term Loans (A-)
Rating Explanation	Adequate degree of safety and carry low credit risk.
Date	March 2015
Rating Agency Name	ICRA
Rating	Non fund based limits (A2+)
Rating Explanation	Very strong degree of safety and carry low credit risk.
Date	March 2015

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Kishan
Designation :	Finance Department
Contact No.:	91-1795-308175
Date :	10.11.2015

LOCATIONS

Registered Office/ Factory 1 :	Punjstar Premises, Kalkaji Industrial Area, Kalkaji, New Delhi- 110019, India
Tel. No.:	91-1795-308175 91-11-30882901/ 30882842/ 30882900
Fax No.:	91-1795-308178 91-11-30882894/ 895
E-Mail :	loyd@del2.bsnl.net.in loyd@del.bsnl.net.in kishannagpal_ng@yahoo.com isolloyddelhi@lloydinsulation.com
Factory 2 :	Village Kishanpur, PO Gurumajya, Tah. Nalagarh, District Solan – 174101, New Delhi, India
Head Office :	Punjstar Premises, 324, Kalkajee Industrial Area, New Delhi, India

DIRECTORS

As on: 29.09.2014

Name :

Mr. Nilender Prakash Punj

Designation :

Director

Address :

10, Prithvi Raj Road, New Delhi - 110011, India

Date of Birth/Age :

02.04.1939

Date of Appointment :

04.01.2005

DIN No.:

00048157

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	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Managing director	01/04/2013	11/12/1986	-	Active	NO
2	U74899DL1987PTC027067	DAYAGEN PRIVATE LIMITED	Director	23/02/1987	23/02/1987	01/02/2013	Active	NO
3	U74899DL1954PTC002386	PUNJ SONS PRIVATE LIMITED	Director	25/11/1989	25/11/1989	-	Active	NO
4	U29309DL1971PLC005491	CHAMPION INDUSTRIES LIMITED	Director	10/08/1991	10/08/1991	-	Active	NO
5	U74899DL1981PTC012150	PUNJSTAR INDUSTRIES PRIVATE LIMITED	Director	10/08/1992	10/08/1992	03/03/2013	Active	NO
6	U74899DL1997PLC088218	PUNJ STAR PROPERTIES LIMITED	Director	13/06/1997	13/06/1997	-	Active	NO
7	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	04/01/2005	04/01/2005	-	Active	NO
8	U27106DL2006PLC155546	PEB STEEL LLOYD (INDIA) LIMITED	Director	01/11/2007	01/11/2007	23/10/2010	Active	NO
9	U74210DL2011PLC217180	Ineco Engineering (India) Limited	Director	06/04/2011	06/04/2011	-	Active	NO
10	U36900DL1993PLC052836	NGP INDUSTRIES LIMITED	Additional director	01/04/2015	01/04/2015	-	Active	NO

Name :

Mr. Gautam Punj

Designation :

Director

Address :

10, Prithvi Raj Road, New Delhi - 110011, India

Date of Appointment :

28.03.2005

DIN No.:

00048225

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	U74899DL1981PTC012150	PUNJSTAR INDUSTRIES PRIVATE LIMITED	Additional director	10/10/2014	10/08/1992	23/03/2015	Active	NO
2	U74899DL1997PLC088218	PUNJ STAR PROPERTIES LIMITED	Director	13/06/1997	13/06/1997	-	Active	NO
3	U34300DL1997PLC089072	T and T MOTORS LIMITED	Director	29/11/2014	19/05/1998	-	Active	NO
4	U74899DL2000PTC108838	PUNJ STAR INFOTECH PRIVATE LIMITED	Director	12/12/2000	12/12/2000	-	Active	NO
5	U74899DL1992PTC050533	COSMO CAPITAL AND INVESTMENT PRIVATE LIMITED	Director	01/06/2001	01/06/2001	-	Active	NO
6	U74899DL1981PTC012088	SUBHAVAN INVESTMENT PRIVATE LIMITED	Director	01/06/2001	01/06/2001	-	Active	NO
7	U74899DL1981PTC012089	NITAM INVESTMENTS PRIVATE LIMITED	Director	01/06/2001	01/06/2001	-	Active	NO
8	L31400GJ1972PLC002091	PANASONIC ENERGY INDIA COMPANY LIMITED	Director	30/01/2002	30/01/2002	-	Active	NO
9	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Whole-time director	01/04/2013	19/04/2003	-	Active	NO
10	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO
11	U27106DL2006PLC155546	PEB STEEL LLOYD (INDIA) LIMITED	Director	15/11/2006	15/11/2006	23/10/2010	Active	NO
12	U40101DL2010PTC201386	Dyaus Power Company Private Limited	Director	09/04/2010	09/04/2010	-	Strike off	NO
13	U74210DL2011PLC217180	Ineco Engineering (India) Limited	Director	06/04/2011	06/04/2011	-	Active	NO
14	U36900DL1993PLC052836	NGP INDUSTRIES LIMITED	Additional director	01/04/2015	01/04/2015	-	Active	NO
15	U74899DL1995PTC073195	NIGIT HOLDINGS PRIVATE LIMITED	Additional director	01/04/2015	01/04/2015	-	Active	NO

Name :

Mrs. Gayatri Punj

Designation :

Director

Address :

13, Albion Station, London, W22AS, United Kingdom

Date of Birth/Age :

06.06.1978

Date of Appointment :

28.03.2005

DIN No.:

01171133

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	U74899DL1981PTC012088	SUBHAVAN INVESTMENT PRIVATE LIMITED	Director	01/06/2001	01/06/2001	24/12/2008	Active	NO
2	U74899DL1981PTC012089	NITAM INVESTMENTS PRIVATE LIMITED	Director	01/06/2001	01/06/2001	24/12/2008	Active	NO
3	U74899DL1992PTC050533	COSMO CAPITAL AND INVESTMENT PRIVATE LIMITED	Director	01/06/2001	01/06/2001	24/12/2008	Active	NO
4	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Director	19/04/2003	19/04/2003	-	Active	NO
5	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO

Name :

Mrs. Gita Punj

Designation :

Director

Address :

10, Prithviraj Road, New Delhi - 110011, India

Date of Birth/Age :

15.04.1948

Date of Appointment :

28.03.2005

DIN No.:

00048203

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	U32200MH1951PTC008682	LAKHANPAL PRIVATE LIMITED	Director	30/12/1985	30/12/1985	21/01/2013	Active	NO
2	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Director	31/07/1990	31/07/1990	-	Active	NO
3	U74899DL1997PLC088218	PUNJ STAR PROPERTIES LIMITED	Director	13/06/1997	13/06/1997	-	Active	NO
4	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO
5	U74210DL2011PLC217180	Ineco Engineering (India) Limited	Director	06/04/2011	06/04/2011	-	Active	NO
6	U36900DL1993PLC052836	NGP INDUSTRIES LIMITED	Additional director	01/04/2015	01/04/2015	-	Active	NO

Name :

Mr. Chander Prakash Khanna

Designation :

Director

Address :

2 /19, Kalkaji Extention, New Delhi - 110019, India

Date of Birth/Age :

18.03.1931

Date of Appointment :

04.01.2005

DIN No.:

00059450

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	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Managing director	01/04/2013	10/06/1977	-	Active	NO
2	U74899DL1981PTC011823	LETUL INVESTMENTS PRIVATE LIMITED	Director	15/03/1990	15/03/1990	-	Active	NO
3	U29309DL1971PLC005491	CHAMPION INDUSTRIES LIMITED	Director	19/07/1991	19/07/1991	-	Active	NO
4	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	04/01/2005	04/01/2005	-	Active	NO
5	U74899DL1987PTC030159	NIRMAL FARMS PRIVATE LIMITED	Director	25/01/2007	25/01/2007	-	Active	NO

Name :

Mr. Mohit Khanna

Designation :

Director

Address :

7 /15, Kalkaji Extention, New Delhi - 110019, India

Date of Birth/Age :

23.08.1960

Date of Appointment :

28.03.2005

DIN No.:

00059431

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	U74899DL1987PTC030159	NIRMAL FARMS PRIVATE LIMITED	Director	20/01/1988	20/01/1988	-	Active	NO
2	U74899DL1987PTC029093	SUPERTECH (INDIA ) PRIVATE LIMITED	Additional director	22/02/1990	22/02/1990	21/04/2008	Active	NO
3	U74899DL1981PTC011823	LETUL INVESTMENTS PRIVATE LIMITED	Director	21/03/1990	21/03/1990	-	Active	NO
4	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Whole-time director	01/04/2013	30/06/1993	-	Active	NO
5	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO
6	U27106DL2006PLC155546	PEB STEEL LLOYD (INDIA) LIMITED	Director	15/11/2006	15/11/2006	-	Active	NO

Name :

Mr. Vineet Prakash Munjal

Designation :

Director

Address :

601-602, Green Acres - I CHS Limited, 7th Floor, 'B' Wing Lokhandwala Complex, Andheri (W), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

30.09.1961

Date of Appointment :

28.03.2005

DIN No.:

00933303

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	U67120MH1989PTC051030	MUNJAL HOLDINGS PRIVATE LIMITED	Director	15/03/1989	15/03/1989	17/07/2015	Active	NO
2	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Whole-time director	01/04/2013	30/06/1993	-	Active	NO
3	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO

Name :

Mr. Suneet Prakash Munjal

Designation :

Director

Address :

41, Sainara Apartment, 17, Cuffe Parade, Mumbai-400005, Maharashtra, India

Date of Birth/Age :

21.01.1964

Date of Appointment :

05.09.2014

DIN No.:

00677710

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	U74899DL1983PTC016061	C N M P INVESTMENTS PRIVATE LIMITED	Director	01/10/1984	01/10/1984	-	Active	NO
2	U67120MH1989PTC051030	MUNJAL HOLDINGS PRIVATE LIMITED	Director	15/03/1989	15/03/1989	-	Active	NO
3	U74140MH1998PTC116214	CEDAR MANAGEMENT CONSULTING PRIVATE LIMITED	Director	26/04/2003	26/04/2003	-	Active	NO
4	U27106DL2006PLC155546	PEB STEEL LLOYD (INDIA) LIMITED	Director	15/11/2006	15/11/2006	-	Active	NO
5	U24119DL2005PLC131798	ISOLLOYD ENGINEERING TECHNOLOGIES LIMITED	Director	29/09/2014	05/09/2014	-	Active	NO
6	U74210DL1977PLC008629	LLOYD INSULATIONS (INDIA) LIMITED	Whole-time director	05/09/2014	05/09/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Deepak Tyagi
Designation :	Secretary
Address :	1/5560 Street No. 16 Balbir Nagar Extension, Shahdara Delhi - 110032, India
Date of Birth/Age :	04.07.1980
Date of Appointment :	20.11.2012
PAN:	AEKPT2363M
Name :	Mr. Kishan
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2014

Names of Shareholders (Equity)	No. of Shares
Nilender Prakash Punj	5800
Chander Prakash Khanna	66602
Prem Prakash Munjal	2100
Lloyd Insulations (India) Limited	2040000
Cosmo Capital and Investments Private, India	1131000
Nirmal Khanna	201397
Monika Khanna	22092
Mohit Khanna	47867
Puneet Khanna	11967
Pranav Khanna	25775
Shobit Khanna	13808
Vineet P. Munjal	122850
Suneet P. Munjal	122850
Shikha Munjal	40950
Shalini Munjal	40950
Amita Tandon	81900
Pranati Khanna	22092
Total	4000000

Names of Shareholders (Preference Share)	No. of Shares
Lloyd Insulations (India) Limited	1333333
Total	1333333

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2014

Category	Percentage
Bodies corporate	79.27
Directors or relatives of Directors	20.73
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Supplying of thermal insulation and related products like ceramic fibers etc.

Products :

Item Code No.	Product Description
39261011	Polyurethane Foam

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Finished Goods

Countries :

Honduras

Imports :

Not Divulged

Terms :

Selling :

L/C and Cheque

Purchasing :

L/C and Cheque

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Vardhaman Industries Limited
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 :	Ace Engineering Private Limited
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 :

400 (Approximately)

Bankers :

Bank Name	Punjab National Bank
Branch	Sai Road, District Solan, Baddi – 173205, Himachal Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	91-1795-245173/ 245073 (Incorrect Nomber)
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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	0.312	10.813
Loans taken for vehicles	0.811	0.879
Total	1.123	11.692

Banking Relations :	Dy. Director of Industries, SWCA, Baddi, Solan - 173205, Himachal Pradesh, India
Auditors 1:
Name :	Sursh C. Mathur and Company Chartered Accountants
Address :	64 -Regal Building, (2nd Floor), Connaught Place, New Delhi-110001, India
PAN:	AAAFS4173N
Auditors 2:
Name :	Avtar Singh and Company Chartered Accountants
Memberships :	--
Collaborators :	--
Holding Company	Lloyd Insulations (India) Limited

CAPITAL STRUCTURE

As on: 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs. 60.000 Million
4000000	Preference Shares	Rs.10/- each	Rs. 40.000 Million
	Total		Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- each	Rs. 40.000 Million
1333333	Preference Shares	Rs.10/- each	Rs. 13.333 Million
	Total		Rs. 53.333 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	53.333	66.667	80.000
(b) Reserves & Surplus	377.066	319.497	249.322
(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)	430.399	386.164	329.322
(3) Non-Current Liabilities
(a) long-term borrowings	1.123	11.691	6.783
(b) Deferred tax liabilities (Net)	0.961	1.233	1.140
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.533	2.202	1.729
Total Non-current Liabilities (3)	4.617	15.126	9.652
(4) Current Liabilities
(a) Short term borrowings	0.561	6.342	0.000
(b) Trade payables	134.026	143.354	122.371
(c) Other current liabilities	69.118	55.377	56.996
(d) Short-term provisions	1.857	35.564	26.391
Total Current Liabilities (4)	205.562	240.637	205.758
TOTAL	640.578	641.927	544.732
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	166.414	174.521	149.821
(ii) Intangible Assets	0.033	0.055	0.092
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	17.702
(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	0.310	0.000	0.000
(e) Other Non-current assets	1.198	1.429	1.225
Total Non-Current Assets	167.955	176.005	168.840
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	76.334	72.832	68.984
(c) Trade receivables	261.742	316.907	262.069
(d) Cash and cash equivalents	117.761	64.419	24.253
(e) Short-term loans and advances	12.507	6.427	10.096
(f) Other current assets	4.279	5.337	10.490
Total Current Assets	472.623	465.922	375.892
TOTAL	640.578	641.927	544.732

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	891.089	972.516	877.048
		Other Income	16.245	11.852	8.790
		TOTAL (A)	907.334	984.368	885.838
Less	EXPENSES
		Cost of Materials Consumed	649.150	686.906	605.849
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(9.999)	(8.086)	6.390
		Employees benefits expense	101.060	93.963	84.716
		Other expenses	71.171	71.065	71.878
		TOTAL (B)	811.382	843.848	768.833
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		95.952	140.520	117.005
Less	FINANCIAL EXPENSES (D)		3.996	4.503	7.305
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		91.956	136.017	109.700
Less	DEPRECIATION/ AMORTISATION (F)		19.123	17.549	17.833
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		72.833	118.468	91.867
Less	TAX (H)		14.329	24.342	18.092
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		58.504	94.126	73.775
Less	APPROPRIATIONS
		Transfer to General Reserve	39.800	50.842	34.417
		Dividend	0.800	25.600	22.400
		Tax on Dividend	0.136	4.351	3.634
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. Value of Exports	4.761	6.105	4.498
	TOTAL EARNINGS		4.761	6.105	4.498
	IMPORTS
		Raw Materials	0.000	2.451	24.487
		Stores & Spares	3.054	0.609	2.403
	TOTAL IMPORTS		3.054	3.060	26.890
	Earnings Per Share (Rs.)		14.63	23.53	18.44

Particulars	31.03.2015
Sales Turnover	880.000

Expected Sales (2015-16): Rs. 850.000 Million

The above information has been parted by Mr. Kishan (Finance Department).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	5.474	5.969	16.612
Cash generated from operations	NA	NA	NA
Net Cash flows from operating activities	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	6.57	9.68	8.41
Operating Profit Margin (PBIDT/Sales)	(%)	10.77	14.45	13.34
Return on Total Assets (PBT/Total Assets}	(%)	11.37	18.46	17.43
Return on Investment (ROI) (PBT/Networth)		0.17	0.31	0.28
Debt Equity Ratio (Total Debt /Networth)		0.02	0.06	0.07
Current Ratio (Current Asset/Current Liability)		2.30	1.94	1.83

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	80.000	66.667	53.333
Reserves & Surplus	249.322	319.497	377.066
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	329.322	386.164	430.399
long-term borrowings	6.783	11.691	1.123
Short term borrowings	0.000	6.342	0.561
Current maturities of long-term debts	16.612	5.969	5.474
Total borrowings	23.395	24.002	7.158
Debt/Equity ratio	0.071	0.062	0.017

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	877.048	972.516	891.089
		10.885	(8.373)

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	877.048	972.516	891.089
Profit	73.775	94.126	58.504
	8.41%	9.68%	6.57%

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	No
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
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

REVIEW OF OPERATIONS:

The total revenue including other income for the financial year is Rs.881.013 Million (Previous Year Rs.984.367 Million). The Company has earned a Net Profit after Tax of Rs.58.504 Million in 2013-14 as compared to Net Profit after Tax of Rs. 94.125 Million earned in 2012-13.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Other loans and advances, others	0.561	6.343
Total	0.561	6.343

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014
Claims against company not acknowledged as debt	19.287

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10383992	16/10/2012	3,000,000.00	DY. DIRECTOR OF INDUSTRIES	SWCA, BADDI SOLAN - 173205, HIMACHAL PRADESH, INDIA	B61111563
2	10283216	09/04/2011	725,000.00	PUNJAB NATIONAL BANK	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	B11723566
3	10271658	18/01/2011	25,000,000.00	PUNJAB NATIONAL BANK	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	B07996135
4	10246150	03/09/2010	280,000.00	PUNJAB NATIONAL BANK	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	A96921994
5	10201106	30/12/2009	327,000.00	PUNJAB NATIONAL BANK	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	A78776614
6	10201111	30/12/2009	568,000.00	PUNJAB NATIONAL BANK	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	A78778057
7	10130074	20/11/2008	3,000,000.00	MEMBER SECRETARY	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	A50656735
8	10037015	29/07/2008 *	10,000,000.00	PUNJAB NATIONAL BANK	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	A44195170
9	90044705	15/07/2014 *	223,250,000.00	PUNJAB NATIONAL BANK	SAI ROAD, BADDI DISTT, SOLAN - 173205, HIMACHAL PRADESH, INDIA	C19560945

* Date of charge modification

FIXED ASSETS:

• Land
• Building
• Factory building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• Electrical Fittings

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.66.14
UK Pound	1	Rs.100.55
Euro	1	Rs.71.26

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	DIV
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--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		53

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.