MIRA INFORM REPORT

Report No. :	350441
Report Date :	23.11.2015

IDENTIFICATION DETAILS

Name :	FCI OEN CONNECTORS LIMITED
Formerly Known As :	FRAMTOME CONNECTORS OEN LIMITED
Registered Office :	XXIX/2089, Tripunithura Road, Thykoodam, Vyttila, Cochin, Ernakulam, Kochi - 682019, Kerala
Tel. No.:	91-484-4090700 / 2303028
Country :	India
Financials (as on) :	31.12.2014
Date of Incorporation :	02.06.1981
Com. Reg. No.:	09-003348
Capital Investment / Paid-up Capital :	Rs.63.069 Million
CIN No.: [Company Identification No.]	U32104KL1981PLC003348
IEC No.:	Not Available (As claimed by company management that company does not export and import)
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacture and sale of connectors.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 4900000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 1981 and it is well-established company having fine track record. The rating reflects company’s strong financial risk profile marked by adequate liquidity position and decent profitability margins of the company. The rating further derives strengths on company experienced promoters and long track record of its business operations. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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	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 DECLINED

Management Non-Cooperative

LOCATIONS

Registered Office :	XXIX/2089, Tripunithura Road, Thykoodam, Vyttila, Cochin, Ernakulam, Kochi - 682019, Kerala
Tel. No.:	91-484-4090700 / 2303028
Fax No.:	91-484-2301973
E-Mail :	biju-k.elias@fci.com m-kurian.reeby@fci.com
Website :	www.fcoen.com
Factory 1 :	V/169, XI/578, Vettickal-Thiruvaniyoor Road, Mulanthuruthy, Ernakulam - 682314, Kerala, India
Factory 2 :	123/1, Kammanahalli, Begur Hobli, Bannerghatta Road, Bangalore – 560076, Karnataka, India

DIRECTORS

As on 25.06.2014

Name :

Mr. Suresh Narsappa Talwar

Designation :

Director

Address :

10, Shiv Shanti Bhuvan,, 146, Maharshi Karve Road, Churchgate Reclamation, Mumbai -400020, Maharashtra, India

Date of Birth/Age :

21.11.1937

Date of Appointment :

18.06.2015

DIN No.:

00001456

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	U23200MH1980PTC022646	MOLY COLLOIDS PVT LTD	Director	16/05/1980	16/05/1980	12/07/2007	Active	NO
2	U15430MH1948PTC006457	Mondelez India Foods Private Limited	Director	02/03/1981	02/03/1981	31/03/2011	Active	NO
3	U29196MH1981PTC024115	EMERSON PROCESS MANAGEMENT (INDIA) PRIVATE LIMITED	Director	25/03/1981	25/03/1981	22/12/2011	Active	NO
4	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Director	08/06/1983	08/06/1983	24/07/2008	Active	NO
5	L99999MH1967PLC013726	MERCK LIMITED	Director	17/01/1984	17/01/1984	-	Active	NO
6	U92110MH1944PTC004242	TWENTIETH CENTURY FOX CORPORATION (INDIA) PRIVATE LIMITED	Director	06/02/1985	06/02/1985	-	Strike off	NO
7	L28920MH1949PLC006870	BLUE STAR LIMITED	Director	17/06/1986	17/06/1986	22/07/2013	Active	NO
8	L99999MH1982PLC026903	SHRENUJ AND COMPANY LIMITED	Director	30/12/1988	30/12/1988	-	Active	NO
9	U32104KL1981PLC003348	FCI OEN CONNECTORS LIMITED	Director	18/06/2015	20/02/1989	-	Active	NO
10	U29299PN1960PTC011751	SANDVIK ASIA Private Limited	Director	29/03/1989	29/03/1989	-	Active	NO
11	U63070MH1991PTC060790	S&M AGENCIES PRIVATE LIMITED CN	Director	22/03/1991	22/03/1991	-	Under liquidation	NO
12	U65920MH1995PTC092440	ROMIL FINANCE AND INVESTMENT PRIVATE LIMITED	Director	23/03/1996	23/03/1996	-	Dissolved	NO
13	U65993MH1996PTC102162	DECAGON INVESTMENTS PRIVATE LIMITED	Director	14/10/1996	14/10/1996	31/03/2015	Active	NO
14	U65923MH1996PTC104084	SIDHAM FINANCE & INVESTMENTS PRIVATE LIMITED	Director	22/03/1997	22/03/1997	-	Active	NO
15	U67120MH1998FTC113138	SCHENECTADY (INDIA) HOLDINGS PRIVATE LIMITED	Alternate director	31/07/1998	31/07/1998	23/01/2009	Amalgamated	NO
16	L65920MH1994PLC080220	TRANSWARRANTY FINANCE LIMITED	Alternate director	27/12/1999	27/12/1999	19/09/2014	Active	NO
17	L72200MH1997PLC110459	BLUE STAR INFOTECH LIMITED	Director	23/07/2014	21/01/2000	-	Active	NO
18	U65991MH2000PTC126846	INDIA VALUE FUND TRUSTEE COMPANY Private LIMITED	Director	18/11/2009	17/07/2000	-	Active	NO
19	U74140KA2000PTC027640	SWISS RE SHARED SERVICES (INDIA) PRIVATE LIMITED	Director	18/08/2000	18/08/2000	-	Active	NO
20	U22990MH1998PTC115305	MORGAN STANLEY INDIA COMPANY PRIVATE LIMITED	Director	21/06/2001	21/06/2001	27/10/2008	Active	NO
21	U28920MH1999PTC119104	ARMSTRONG WORLD INDUSTRIES (INDIA) PRIVATE LIMITED	Director	11/07/2001	11/07/2001	-	Active	NO
22	U99999MH2000PLC128110	BIRLA SUN LIFE INSURANCE COMPANY LIMITED	Director	11/09/2001	11/09/2001	02/07/2013	Active	NO
23	L24200MH2000PLC123813	SOLVAY PHARMA INDIA LIMITED	Director	16/10/2001	16/10/2001	-	Amalgamated	NO
24	U74300MH1987PTC044227	REDIFFUSION DENTSU YOUNG AND RUBICAM PRIVATE LIMITED	Director	06/12/2001	06/12/2001	-	Active	NO
25	U99999MH1963PLC012674	SI GROUP - INDIA LIMITED.	Alternate director	22/01/2008	01/01/2002	22/01/2009	Active	NO
26	U24240MH1995PTC086243	PZ CUSSONS INDIA PRIVATE LIMITED	Alternate director	25/05/2013	07/05/2002	-	Active	NO
27	L72200MH1994PLC082110	SONATA SOFTWARE LIMITED	Director	30/10/2002	30/10/2002	-	Active	NO
28	U67200MH2002PTC137954	Aon Global Insurance Brokers Private Limited.	Director	24/02/2003	24/02/2003	11/10/2010	Active	NO
29	U66030TN2001PLC047977	CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED	Director	14/04/2003	14/04/2003	20/03/2008	Active	NO
30	L24234KA1978PLC003417	BIOCON LIMITED	Director	25/07/2014	17/05/2003	24/07/2015	Active	NO
31	U92110MH2003PTC142309	SHOWDIFF WORLDWIDE PRIVATE LIMITED	Director	21/01/2004	21/01/2004	22/02/2010	Active	NO
32	L24222PN1956PLC134746	ELANTAS Beck India Limited	Director	01/06/2009	05/07/2004	-	Active	NO
33	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Director	06/07/2004	06/07/2004	22/08/2014	Active	NO
34	L85190MH1947PLC005963	WYETH LIMITED	Director appointed in casual vacancy	20/03/2009	15/09/2004	26/10/2009	Amalgamated	NO
35	L99999MH1922PLC000987	GREAVES COTTON LIMITED	Director	01/10/2004	01/10/2004	30/07/2013	Active	NO
36	L25209MH1976PLC018939	GARWARE WALL ROPES LIMITED	Alternate director	02/12/2011	04/12/2004	27/10/2012	Active	NO
37	U74200MH1977PTC020041	ThyssenKrupp Industrial Solutions (India) Private Limited	Alternate director	06/06/2014	05/12/2004	31/03/2015	Active	NO
38	U92110MH2003PTC141168	WARNER BROS PICTURES (INDIA) PRIVATE LIMITED	Director	20/01/2005	20/01/2005	31/03/2015	Active	NO
39	U24110MH1965PLC013331	Rhodia Specialty Chemicals India Limited	Director	23/08/2013	14/02/2005	16/02/2015	Active	NO
40	U72200MH2005PTC153209	EPITOME GLOBAL SERVICES PRIVATE LIMITED	Director	11/05/2005	11/05/2005	31/03/2015	Active	NO
41	U24222MH2005PTC215180	SNOWCEM PAINTS PRIVATE LIMITED	Director	12/09/2005	12/09/2005	-	Active	NO
42	U67110MH2005PTC157770	Phillip (India) Private Limited	Director	01/02/2006	01/02/2006	31/03/2015	Active	NO
43	U74899MH1994PTC166755	BIRLA SUN LIFE TRUSTEE COMPANY PRIVATE LIMITED	Director	22/02/2006	22/02/2006	-	Active	NO
44	U63031GA1965PTC000041	CHOWGULE AND COMPANY Private LIMITED.	Director	23/02/2006	23/02/2006	-	Active	NO
45	L65990MH1993PLC074306	Vaarad Ventures Limited	Alternate director	19/05/2009	31/03/2006	29/07/2009	Active	NO
46	U65999MH1953PTC009189	JOHN FOWLER (INDIA) PRIVATE LIMITED	Director	26/07/2006	26/07/2006	28/10/2013	Amalgamated	NO
47	U74140KA2006PTC040274	IVF TRUSTEE COMPANY PRIVATE LIMITED	Director	18/09/2006	18/09/2006	-	Active	NO
48	U33110MH1957PTC010928	JOHNSON & JOHNSON PRIVATE LIMITED	Alternate director	09/12/2014	03/10/2006	-	Active	NO
49	L29299TN1987PLC058738	ESAB INDIA LIMITED	Director	22/04/2009	27/10/2006	01/08/2014	Active	NO
50	U34101KA1996PTC020195	Mahindra Reva Electric Vehicles Private Limited	Director	02/12/2006	02/12/2006	29/07/2010	Active	NO
51	U74140MH1999PTC122493	INGA CAPITAL PRIVATE LIMITED	Director	27/09/2007	12/02/2007	01/10/2009	Active	NO
52	U70100TN2007PTC062429	RAKINDO KOVAI TOWNSHIP Private Limited	Additional director	01/04/2007	01/04/2007	19/02/2008	Active	NO
53	U85199KA2002PTC030218	Vidal Health TPA Private Limited	Director	03/04/2007	03/04/2007	03/08/2015	Active	NO
54	U85110KA2004PTC034819	SWISS RE HEALTHCARE SERVICES PRIVATE LIMITED	Director	03/04/2007	03/04/2007	-	Amalgamated	NO
55	U74999PN2007PTC137041	WAVE Suspension Systems India Private Limited	Director	29/09/2008	25/05/2007	28/01/2011	Active	NO
56	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Alternate director	21/11/2008	13/06/2007	03/10/2011	Active	NO
57	U65993MH2005PTC155362	INDIA DEBT MANAGEMENT Private LIMITED	Director	17/06/2008	24/03/2008	17/06/2009	Active	NO
58	U65990MH1996PTC100190	Morgan Stanley India Capital Private Limited	Director	31/08/2009	10/12/2008	01/10/2014	Active	NO
59	U35112MH1994PLC081331	SAMSON MARITIME LIMITED	Director	25/06/2010	01/12/2009	-	Active	NO
60	U45203PN2007PTC130582	CHOWGULE PORTS & INFRASTRUCTURE PRIVATE LIMITED	Director	08/07/2011	26/07/2010	31/03/2015	Active	NO
61	U45300AP2010PLC070121	L&T METRO RAIL (HYDERABAD) LIMITED	Director	04/08/2011	11/02/2011	28/10/2014	Active	NO
62	L17120MH1990PLC058361	S KUMARS NATIONWIDE LIMITED	Additional director	01/04/2011	01/04/2011	26/11/2012	Active	NO
63	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	23/08/2013	27/12/2012	16/02/2015	Active	NO
64	U65999MH1996PTC195393	Phillip Finance & Investment Services India Private Limited	Director	31/07/2013	31/07/2013	31/03/2015	Active	NO
65	L85110KA1993PLC014937	SYNGENE INTERNATIONAL LIMITED	Additional director	09/10/2015	09/10/2015	-	Active	NO

Name :

Mr. Pulikkathara George Varghese

Designation :

Director

Address :

Flat - 9b, Amber Park, Cannon Shed Road, Boat Jetty, Kochi - 682011, Kerala, India

Date of Birth/Age :

18.04.1948

Date of Appointment :

02.09.2011

DIN No.:

00317319

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	U31200KL1978PLC002997	PRIMA COMPONENTS LIMITED	Director	26/07/1978	26/07/1978	-	Active	NO
2	U32104KL1981PLC003348	FCI OEN CONNECTORS LIMITED	Director	02/09/2011	11/12/1986	-	Active	NO
3	U67120KL1987PTC004890	GEOMATHS STOCKS AND SHARES TRADING PRIVATE LIMITED	Director	16/10/1987	16/10/1987	-	Active	NO
4	U67120KL1989PTC005440	YOJ UJAR STOCKS AND SHARES TRADING PRIVATE LIMITED	Director	31/07/1989	31/07/1989	-	Active	NO
5	U52599KL1993PTC007422	PRIME BUSINESS PVT LTD	Director	13/10/1993	13/10/1993	-	Active	NO
6	U32109KL2000PTC015286	Delphi Connection Systems India Private Limited	Director	02/09/2011	07/11/2000	26/10/2012	Active	NO
7	U91110KL1938NPL001413	COCHIN CHAMBER OF COMMERCE AND INDUSTRY	Director	09/08/2004	09/08/2004	30/11/2007	Active	NO
8	L65910KL1997PLC011300	MUTHOOT FINANCE LIMITED	Director	10/09/2008	23/01/2008	27/09/2013	Active	NO
9	U74140KL2011PTC028169	FINA CORPORATE SOLUTIONS AND TECHNOLOGIES PRIVATE LIMITED	Director	18/04/2011	18/04/2011	-	Active	NO
10	U74140KL2012PTC030776	CENTRICUS CONSULTING PRIVATE LIMITED	Director	15/03/2012	15/03/2012	-	Active	NO
11	U74140KL2013PTC033089	Knowleo Business Solutions Private Limited	Director	08/01/2013	08/01/2013	-	Active	NO
12	U74140KL2013PTC033287	SmartQuotient Business and Technology Solutions Private Limited	Director	11/02/2013	11/02/2013	-	Active	NO
13	U85110PB1993PTC013811	TYNOR ORTHOTICS Private LIMITED	Nominee director	03/03/2014	03/03/2014	-	Active	NO

Name :

Laurent Jacques Pascal Petit

Designation :

Director

Address :

42, Stratton Drive, Singapour, 805640, , Singapore

Date of Birth/Age :

30.12.1963

Date of Appointment :

18.06.2013

DIN No.:

06543510

Name :

Mr. Gopalakrishnan Rajamani

Designation :

Director

Address :

Xxi/506 A Gokulam, Near Bakthi Vilasam Palace, Tripunithura, 682301, Kerala, India

Date of Birth/Age :

28.04.1966

Date of Appointment :

29.06.2012

DIN No.:

00877184

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	U24222KL1990PTC005785	SAKTHI PAINTS PRIVATE LIMITED	Managing director	24/08/1990	24/08/1990	-	Active	NO
2	U32104KL1981PLC003348	FCI OEN CONNECTORS LIMITED	Director	29/06/2012	28/10/2011	-	Active	NO
3	U32109KL2000PTC015286	Delphi Connection Systems India Private Limited	Director	29/06/2012	28/10/2011	26/10/2012	Active	NO

Name :

Mr. Sunil Koshy Zachariah

Designation :

Director

Address :

Nadackavil, K.D.P. Post, Kalamassery, Cochin, 683109, Kerala, India

Date of Appointment :

24.03.2015

DIN No.:

00306625

Name :

Mr. Sivadas Kambium Valappil

Designation :

Director

Address :

'Varada', Pettah, Poonithura P O, Ernakulam, Cochin, 682317, Kerala, India

Date of Appointment :

24.03.2015

DIN No.:

00306727

Name :

Mr. Lim Gek Choo

Designation :

Director

Address :

Apt Blk 352c Canberra Road #11-247, Singapore, 753352, , Singapore

Date of Appointment :

18.06.2015

DIN No.:

07163106

KEY EXECUTIVES

Name :	Mr. Biju K Elias
Designation :	Secretary
Date of Birth/Age :	20.05.1967
Address :	Flat No. 202, Shanthi Enclave, Ponneth Temple Road, Kadavanthra, Cochin - 682020, Kerala, India
Date of Appointment :	01.07.2000
PAN No.:	AACPE3245P
Name :	Mr. Rajamani Gopalakrishnan
Designation :	Manager
Address :	Xxi/506 A, Gokulam, Bhakthivilasam Palace, Tripunithura, Cochin - 682301, Kerala, India
Date of Appointment :	01.11.2015
PAN No.:	ACPPR3274C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.06.2014

SHAREHOLSER DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 25.06.2014

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	97.84
Bodies corporate	0.05
Directors or relatives of Directors	0.01
Other top fifty shareholders	0.50
Other	1.54
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacture and sale of connectors.
Products :	Sale of Connectors
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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 :
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 :
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Bank of India
Branch	M G Road, Ernakulam Branch, Ernakulam Branch, Ernakulam – 682016, Kerala, 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
Bank Name	Industrial Development Bank of India
Branch	IDBI Tower, Cuffee Parade, Colaba, Bombay – 400005, Maharashtra, India

Facilities :

Secured Loan	31.12.2014 (Rs. in Million)	31.12.2013 (Rs. in Million)
Long-term Borrowings
Term loan from Banks	6.089	0.000
Total	6.089	0.000

Financial Institutions. :	Housing Development Finance Co-Operative Limited, Ramon House 4^th Floor, 169; Backbay Reclamation, Mumbai – 400020, Maharashtra, India
Auditors :
Name :	Price Waterhouse and Company Chartered Accountants
Address :	Prestige Palladium Bayan, 8Th Floor, 129 / 140 Greams Road, Chennai, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFP5579P
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	FCI France S.A, France FCI SA, France FCI International, France FCI S'hertogenbosch, France FCI Besancon SA, France FCI USA LLC, United States FCI Connectors Malaysia SDN BHD, Malaysia FCI Connectors Singapore Pte Limited, Singapore FCI Taiwan Limited, Taiwan, Province Of China FCI GBS India Private Limited, India U72200KL2011FTC028699 FCI PRC Limited, China FCI Connectors Donguan Limited, China FCI Japan KK, Japan FCI Connectors Korea Limited, Korea , Republic Of FCI Automotive France SA, France FCI Nantong Limited, China FCI Conn Shanghai CDC, China FCI Deutschland GMBH, Germany
Holding company :	FCI Asia Pte Limited, Singapore

CAPITAL STRUCTURE

As on 18.06.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- each	Rs.90.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6309517	Equity Shares	Rs.10/- each	Rs.63.095 Million

As on 31.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- each	Rs.90.000 Million

Issued :

No. of Shares	Type	Value	Amount
6309517	Equity Shares	Rs.10/- each	Rs.63.095 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6305239	Equity Shares	Rs.10/- each	Rs.63.052 Million
16750	Forfeited Shares	Rs.10/- each	Rs.0.017 Million
			Rs.63.069 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2014	31.12.2013	31.12.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	63.069	63.069	63.069
(b) Reserves & Surplus	1667.685	1603.088	1501.491
(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)	1730.754	1666.157	1564.560
(3) Non-Current Liabilities
(a) long-term borrowings	6.089	0.000	0.137
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	2.715	1.810	0.000
(d) long-term provisions	8.521	7.715	9.764
Total Non-current Liabilities (3)	17.325	9.525	9.901
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	558.576	477.268	334.373
(c) Other current liabilities	89.798	84.446	57.919
(d) Short-term provisions	0.000	0.000	77.251
Total Current Liabilities (4)	648.374	561.714	469.543
TOTAL	2396.453	2237.396	2044.004
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	569.334	567.078	561.334
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	23.233	17.795	37.013
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.200	0.200	0.200
(c) Deferred tax assets (net)	26.443	28.398	25.174
(d) Long-term Loan and Advances	99.329	59.352	44.844
(e) Other Non-current assets	5.683	0.000	3.880
Total Non-Current Assets	724.222	672.823	672.445
(2) Current assets
(a) Current investments	0.000	0.000	252.807
(b) Inventories	468.196	402.929	275.277
(c) Trade receivables	736.954	802.335	424.830
(d) Cash and cash equivalents	161.277	108.152	206.029
(e) Short-term loans and advances	203.529	126.438	77.204
(f) Other current assets	102.275	124.719	135.412
Total Current Assets	1672.231	1564.573	1371.559
TOTAL	2396.453	2237.396	2044.004

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.12.2014	31.12.2013	31.12.2012
	SALES
	Income	3515.655	3062.675	2370.722
	Other Income	47.539	99.710	110.139
	TOTAL (A)	3563.194	3162.385	2480.861
Less	EXPENSES
	Cost of Materials Consumed	2176.765	1989.606	1450.271
	Purchases of Stock-in-Trade	220.622	230.970	198.620
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2.989)	(142.228)	(28.721)
	Employees benefits expense	358.171	275.805	234.247
	Other expenses	607.992	521.146	479.596
	TOTAL (B)	3360.561	2875.299	2334.013
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	202.633	287.086	146.848
Less	FINANCIAL EXPENSES (D)	0.543	1.205	0.910
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	202.090	285.881	145.938
Less/ Add	DEPRECIATION/ AMORTISATION (F)	107.258	130.471	139.912
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	94.832	155.410	6.026
Less	TAX (H)	30.234	53.814	-32.463
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	64.598	101.596	38.489
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	881.529	779.933	1405.309
Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	0.000	504.419
	Dividend	0.000	0.000	81.829
	Domestic Sales	0.000	0.000	63.052
	Export entitlements	0.000	0.000	10.716
	Tax on Dividend	0.000	0.000	3.849
	Total (M)	0.000	0.000	663.865
	Balance Carried to the B/S (J+K+L-M)	946.127	881.529	779.933
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	2548.252	2228.002	1559.383
	Management Fee income	7.670	2.568	0.000
	TOTAL EARNINGS	2555.922	2230.570	1559.383
	IMPORTS
	Raw Materials	1057.035	980.832	674.075
	Components and Stores parts	331.354	265.571	234.264
	Machinery, Spares, Tools, Consumables	0.000	0.000	53.002
	Traded Goods	0.000	0.000	191.489
	Capital Goods	45.836	100.446	29.703
	TOTAL IMPORTS	1434.225	1346.849	1182.533
	Earnings / (Loss) Per Share (Rs.)	10.25	16.11	6.10

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.12.2014	31.12.2013	31.12.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	196.565	(130.972)	241.013
Net cash flow from operating activity	123.521	(170.770)	59.268

KEY RATIOS

PARTICULARS		31.12.2014	31.12.2013	31.12.2012
Net Profit Margin (PAT / Sales)	(%)	1.84	3.32	1.62
Operating Profit Margin (PBIDT/Sales)	(%)	5.76	9.37	6.19
Return on Total Assets (PBT/Total Assets}	(%)	4.04	7.09	0.30
Return on Investment (ROI) (PBT/Networth)		0.05	0.09	0.00
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		2.58	2.79	2.92

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.12.2012	31.12.2013	31.12.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	63.069	63.069	63.069
Reserves & Surplus	1501.491	1603.088	1667.685
Net worth	1564.560	1666.157	1730.754
long-term borrowings	0.137	0.000	6.089
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.137	0.000	6.089
Debt/Equity ratio	0.000	0.000	0.004

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.12.2012	31.12.2013	31.12.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2370.722	3062.675	3515.655
		29.187	14.790

NET PROFIT MARGIN

Net Profit Margin	31.12.2012	31.12.2013	31.12.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2370.722	3062.675	3515.655
Profit	38.489	101.596	64.598
	1.62%	3.32%	1.84%

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	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	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

FINANCIAL RESULTS

Domestic sales for the year was at Rs.1017.840 million (Rs. 821.640 million in the previous year). Export sales for the year was at Rs.2025.110 million (Rs.1806.530 million). Export entitlements increased to Rs 38.650 million from Rs 30.970 million on account of higher export sales. Net revenue thus increased by 15% to Rs 3515.650 million in 2014. EBITDA for the year was at Rs.172.610 million at 5% of sales. After providing depreciation of Rs.107.000 million PBT was at Rs.95.650 million. Earnings per share is Rs 10.250 (Rs.16.110 in the previous year).

BUSINESS PERFORMANCE

Performance for the year 2014 was satisfactory despite huge pressure on operation due to increased customer demand and also higher metal prices. The orders for the recently transferred Millipacs receptacle showed a significant increase due to the cost competitiveness of our site. They could scale up the production to match the requirement by increasing the generic capacity. Quality expectation from customers also was getting very stringent for which we were forced to add more equipments / manual inspection. Metal prices increased substantially during the year even though rupee remained flat against USD. These factors had an adverse impact on the profitability of the business. Net profit before tax was at Rs.94.830 million as against Rs.155.410 million of last year.

Sales, both in domestic market and export market showed a good growth. This was mainly due to our cost competitiveness as well as our strategy in investing in sales team. The same trend is continuing in 2015 also. Metal prices have also come down and we hope 2015 will be a better year if the same trend continues.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10595074	06/10/2015	150,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	C66255126

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.12.2014	31.12.2013
Claims against the company not acknowledged as debt	164.743	164.743
Income tax matters	4.449	5.269
Sales Tax matters	0.414	0.414

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment

Intangible assets

• Goodwill
• Computer software

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 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] 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.66.09
UK Pound	1	Rs.101.03
Euro	1	Rs.70.85

INFORMATION DETAILS

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	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.