MIRA INFORM REPORT

Report No. :	345261
Report Date :	17.10.2015

IDENTIFICATION DETAILS

Name :	SANDHYA SPINNING MILL LIMITED
Registered Office :	No.47, P S K Nagar, Rajapalayam - 626108, Tamilnadu
Tel. No.:	91-4563-236871, 235009
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.03.1994
Com. Reg. No.:	18-027037
Capital Investment / Paid-up Capital :	Rs.46.000 Million
IEC No.:	3597004245
CIN No.: [Company Identification No.]	U17111TN1994PLC027037
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCS0537R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Cotton Yarn.
No. of Employees :	81 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (32)

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 1994. It is having moderate track and has engaged in manufacturing and exporting of yarn. It is a part of Ramco Group. The ratings takes into consideration moderate financial risk profile of the company marked by leveraged capital structure in financial year 2014. The company has taken huge external borrowings i.e. Rs.1063.000 Million against the networth of Rs.100.000 Million in FY 2014. However, the company has reported increase in its sales turnover along with thin profit margin in the year under consideration. 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	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	Long Term Rating=(BB-)
Rating Explanation	Inadequate credit quality and high credit risk.
Date	March, 2015

Rating Agency Name	ICRA
Rating	Short Term Rating=(A4)
Rating Explanation	Minimal degree of safety and very high 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. Vaidhiya Nathan
Designation :	Accounts Officer
Contact No.:	91-4563-235009
Date :	15.10.2015

LOCATIONS

Registered Office :	No.47, P S K Nagar, Rajapalayam - 626108, Tamilnadu, India
Tel. No.:	91-4563-236871, 235009
Fax No.:	91-4563-235405
E-Mail :	sandhya@ramcotex.com sandhya@sancharnet.in
Website :	http://www.sandhyaspinningmill.co.in
Location :	Owned
Locality:	Commercial
Factory :	Krishnapuram Road, Rajapalayam – 626108, Tamilnadu, India
Tel. No.:	91-4563-235046
Branch Office :	Gopinenipalem Village, Vatsarai, Krishna District – 521190, Telangana, India
Tel. No.:	91-8654-200102

DIRECTORS

As on 04.08.2014

Name :

Mr. Poosapadi Ramasamy Raja Ramasubrahmaneya Rajha

Designation :

Director

Address :

Ramamandiram, Rajapalayam - 626117, Tamilnadu, India

Date of Birth/Age :

04.07.1935

Date of Appointment :

30.08.1995

DIN No.:

00331357

Name :

Mr. Sudarsanam Ramasubrahmaneya Rajha

Designation :

Director

Address :

642, Ramamandiram, Tenkasi Road, Rajapalayam - 626117, Tamilnadu, India

Date of Birth/Age :

26.10.1941

Date of Appointment :

30.08.1995

DIN No.:

00433926

Name :

Mr. Venketrama Raja Poosapadi Ramasubrahmaneya Rajha

Designation :

Director

Address :

Ramamandiram, Tenkasi Road, Rajapalayam - 626117, Tamilnadu, India

Date of Birth/Age :

14.05.1959

Date of Appointment :

30.08.1995

DIN No.:

00331406

Name :

Mr. Kanthimathinathan Subramanian

Designation :

Director

Address :

Old No.12, 3A,Jubli Road, Ilanji P O Tenkasi Taluk - 627805, Tamilnadu, India

Date of Birth/Age :

01.10.1942

Date of Appointment :

06.08.2008

DIN No.:

01124581

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	U74999TN2002PLC048773	ONTIME INDUSTRIAL SERVICES LIMITED	Director	16/04/2002	16/04/2002	16/08/2012	Active	NO
2	L17111TN1939PLC002302	RAMARAJU SURGICAL COTTON MILLS LIMITED	Director	06/08/2008	16/01/2008	-	Active	NO
3	U17111TN1994PLC027037	SANDHYA SPINNING MILL LIMITED	Director	06/08/2008	16/01/2008	-	Active	NO
4	U17100TN2007PLC064234	RAJAPALAYAM SPINNERS LIMITED	Director	06/08/2008	16/01/2008	-	Amalgamated	NO
5	U40101TN2011PLC078737	DECCAN RENEWABLE WIND ELECTRICS LIMITED	Director	06/01/2011	06/01/2011	28/12/2013	Active	NO
6	U17111TN2005PLC057807	SRI HARINI TEXTILES LIMITED	Director appointed in casual vacancy	30/07/2013	30/07/2013	-	Active	NO
7	L17111TN1961PLC004505	THANJAVUR SPINNING MILL LIMITED	Director	04/08/2014	04/09/2013	-	Active	NO
8	U25201TN1985PTC011946	DIGVIJAI POLYTEX PRIVATE LIMITED	Director	04/08/2014	14/10/2013	-	Active	NO
9	U17301TN1981PLC008677	SRI VISHNU SHANKAR MILLS LIMITED	Director	04/08/2014	28/10/2013	-	Active	NO
10	U17120TN2014PLC094685	RAJAPALAYAM TEXTILE LIMITED	Director	04/08/2014	30/01/2014	-	Active	NO

Name :

Mr. Poosapadi Venketrama Raja Nirmala Raju

Designation :

Director

Address :

Old No:92, New No:142, Santhome High Road, Chennai - 600028, Tamilnadu, India

Date of Birth/Age :

02.021966

Date of Appointment :

25.05.2009

DIN No.:

00474960

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	U17111TN1994PLC027037	SANDHYA SPINNING MILL LIMITED	Director	25/05/2009	30/08/1995	-	Active	NO
2	U73100TN1991NPL020495	MADHURAM NARAYANAN CENTRE FOR EXCEPTIONAL CHILDREN	Director	29/09/2007	28/07/2007	10/09/2011	Active	NO
3	U92140TN2009PTC073206	BAREFOOT DANCE COMPANY INDIA PRIVATE LIMITED	Director	14/10/2009	14/10/2009	-	Active	NO

Name :

Mr. Poosapadi Venketramaraja Srisandhya

Designation :

Managing Director

Address :

Plot No 1242, Rd No 62, Jubilee Hills, Hyderabad - 500033, Telangana, India

Date of Birth/Age :

02.02.1987

Date of Appointment :

01.04.2014

DIN No.:

02325596

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	U45209TG2008PTC057710	MAYTAS REALTORS PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	01/10/2011	Strike off	NO
2	U45200TG2008PTC057705	MAYTAS CONSTRUCTIONS PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	07/07/2011	Active	NO
3	U45200TG2008PTC057709	MAYTAS MANSION PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	01/10/2011	Active	NO
4	U45200TG2008PTC057700	MAYTAS AVENUES PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	01/10/2011	Active	NO
5	U45200TG2008PTC057712	MAYTAS TOWNSHIPS PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	07/07/2011	Active	NO
6	U45209TG2008PTC057714	MAYTAS VILLAS PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	01/10/2011	Active	NO
7	U45200TG2008PTC057704	MAYTAS BUILDTECH PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	07/07/2011	Active	NO
8	U45209TG2008PTC057708	MAYTAS HOMES PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	01/10/2011	Active	NO
9	U45200TG2008PTC057711	MAYTAS TOWERS PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	01/10/2011	Strike off	NO
10	U45200TG2008PTC057706	MAYTAS DEVELOPERS PRIVATE LIMITED	Additional director	22/02/2008	22/02/2008	01/10/2011	Active	NO
11	U70102TG2008PTC062072	CHENNAI SOUTH CITY PROJECTS PRIVATE LIMITED	Director	02/12/2008	02/12/2008	01/10/2011	Strike off	NO
12	U17111TN1994PLC027037	SANDHYA SPINNING MILL LIMITED	Managing director	01/04/2014	25/05/2009	-	Active	NO
13	U92140TN2009PTC073206	BAREFOOT DANCE COMPANY INDIA PRIVATE LIMITED	Director	14/10/2009	14/10/2009	-	Active	NO
14	U01120TG2000PTC034817	SATMALA AGRO-FARMS PRIVATE LIMITED	Director	16/03/2015	16/03/2015	-	Active	NO
15	U15142TG2000PTC033695	BHARANI BIO-TECH PRIVATE LIMITED	Director	16/03/2015	16/03/2015	-	Active	NO
16	U24297TG2008PTC057852	PARIMALA POWER GENERATION PRIVATE LIMITED	Director	16/03/2015	16/03/2015	-	Active	NO
17	U92190TG2008PTC060954	BAREFOOT MEDIA & ENTERTAINMENT PRIVATE LIMITED	Director	16/03/2015	16/03/2015	-	Active	NO
18	U40105TG2008PTC057849	PRANAHITA POWER GENERATION PRIVATE LIMITED	Director	16/03/2015	16/03/2015	-	Active	NO

Name :

Mr. Nambur Krishnama Raja Shrikantan Raja

Designation :

Director

Address :

Sri Bhavanam, P.S.K Nagar, Rajapalayam - 626108, Tamilnadu, India

Date of Birth/Age :

20.07.1948

Date of Appointment :

04.08.2014

DIN No.:

00350693

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	U17301TN1981PLC008677	SRI VISHNU SHANKAR MILLS LIMITED	Director	01/04/2014	23/03/1981	-	Active	NO
2	U90009TN1988PLC015533	SRI YANNARKAY SERVICERS LTD	Director	28/03/1988	28/03/1988	-	Active	NO
3	L72300TN1997PLC037550	RAMCO SYSTEMS LIMITED	Director	19/02/1997	19/02/1997	13/08/2014	Active	NO
4	U65993TN1998PLC040821	SUDHARSANAM INVESTMENTS LIMITED	Director	20/07/2001	20/07/2001	-	Active	NO
5	U17111TN1994PLC027037	SANDHYA SPINNING MILL LIMITED	Director	04/08/2014	03/08/2001	-	Active	NO
6	L17111TN1939PLC002302	RAMARAJU SURGICAL COTTON MILLS LIMITED	Director	15/04/2002	15/04/2002	-	Active	NO
7	U72900TN2004PLC054575	Moka Technology Services Limited	Director	01/11/2004	01/11/2004	14/07/2007	Active	NO
8	U17111TN2005PLC057807	SRI HARINI TEXTILES LIMITED	Director	28/07/2006	13/10/2005	-	Active	NO
9	L26943TN1965PLC005297	RAMCO INDUSTRIES LIMITED	Director	28/04/2006	28/04/2006	-	Active	NO
10	U26950TN2007PTC063772	N.R.K. CONSTRUCTION SYSTEMS PRIVATE LIMITED	Director	04/06/2007	04/06/2007	-	Active	NO
11	U93090TN1938NPL002300	RAJAPALAYAM CHAMBER OF COMMERCE AND INDUSTRY	Director	05/08/2007	05/08/2007	-	Active	NO
12	U74999TN2008PTC068710	NRK INFRA SYSTEM PRIVATE LIMITED	Director	31/07/2008	31/07/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vaidhiya Nathan
Designation :	Accounts Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

NOTE:

SHAREHOLDERS DETAILS FILE ATTACHED

As on 29.10.2014

Names of Allottee	No. of Shares
SriSandhya Raju, Individual, India	3000000
Total	3000000

As on 04.08.2014

Category	Percentage
Directors or relatives of Directors	82.83
Other top fifty shareholders	4.80
Other	12.37
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Cotton Yarn.
Products :	Cotton Yarn
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Yarn
Countries :	Japan Bangladesh Pakistan Germany Italy Switzerland
Imports :
Products :	Raw Material
Countries :	United Stated of America Australia Egypt
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

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 :

81 (Approximately)

Bankers :

Bank Name	Axis Bank Limited
Branch	Rajapalayam, Tamilnadu, 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

• Indian Bank, Branch, Anna Salai, Chennai, Tamilnadu, India
• Tamilnad Mercantile Bank Limited, Branch-391, Aiswarya Complexm Tenkasi Road, Rajapalayam – 626117, Tamilnadu, India
• State Bank of India, Branch-Madurai, Tamilnadu, India
• Kotak Mahindra Bank Limited, Branch-Chennai, Tamilnadu,. India
• IDBI Bank Limited, Branch-Madurai, Tamilnadu, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee Term loan from Banks	1063.853	980.469
Short-term borrowings
Loans repayable on demand from banks	456.197	564.782
Total	1520.050	1545.251

Auditors :
Name :	N.A. Jayaraman and Company Chartered Accountants
Address :	9, Cedar Wood, No.11, 4 Main Road, Raja Annamalaipuram, India
PAN N Income-tax PAN of auditor or auditor's firm :	AEAPP4490B
Memberships :	--
Collaborators :	--
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	The Ramco Cements Limited, India Rajapalayam Mills Limited, India Sri Vishnu Shankar Mill Limited, India The Ramaraju Surgical Cotton Mills Limited, India Thanjavur Spinning Mill Limited, India The Ramco Industries Limited, India Ramco System Limited, India Sri Harini Textiles Limited, India Rajapalayam Spinners Limited, India

CAPITAL STRUCTURE

After 04.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4600000	Equity Shares	Rs.10/- each	Rs.76.000 Million

As on 04.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4600000	Equity Shares	Rs.10/- each	Rs.46.000 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	46.000	16.814	16.814
(b) Reserves & Surplus	54.061	11.372	(27.758)
(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)	100.061	28.186	(10.944)
(3) Non-Current Liabilities
(a) long-term borrowings	1063.853	980.469	1261.886
(b) Deferred tax liabilities (Net)	118.300	78.400	58.500
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	3.786	3.349	1.815
Total Non-current Liabilities (3)	1185.939	1062.218	1322.201
(4) Current Liabilities
(a) Short term borrowings	604.116	645.919	425.515
(b) Trade payables	22.106	23.997	9.873
(c) Other current liabilities	322.100	324.775	292.622
(d) Short-term provisions	39.347	10.145	72.548
Total Current Liabilities (4)	987.669	1004.836	800.558
TOTAL	2273.669	2095.240	2111.815
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1562.333	1639.418	1740.088
(ii) Intangible Assets	0.128	0.158	0.318
(iii) Capital work-in-progress	1.509	0.973	0.937
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.754	0.270	0.770
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	14.698	16.639	21.289
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1579.422	1657.458	1763.402
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	433.323	252.769	161.777
(c) Trade receivables	157.323	124.865	66.332
(d) Cash and cash equivalents	13.476	15.523	6.808
(e) Short-term loans and advances	21.151	4.255	68.588
(f) Other current assets	68.974	40.370	44.908
Total Current Assets	694.247	437.782	348.413
TOTAL	2273.669	2095.240	2111.815

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2325.505	1421.279	1215.643
	Other Income	2.109	1.749	12.610
	TOTAL (A)	2327.614	1423.028	1228.253
Less	EXPENSES
	Cost of Materials Consumed	918.016	697.293	736.453
	Purchases of Stock-in-Trade	595.561	42.556	2.526
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(15.775)	(18.119)	146.455
	Employees benefits expense	109.708	91.232	73.337
	Other expenses	322.672	229.737	165.121
	TOTAL (B)	1930.182	1042.699	1123.892
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	397.432	380.329	104.361
Less	FINANCIAL EXPENSES (D)	183.314	207.217	211.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	214.118	173.112	(106.639)
Less/ Add	DEPRECIATION/ AMORTISATION (F)	114.908	114.082	113.281
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	99.210	59.030	(219.920)
Less	TAX (H)	55.900	19.900	(74.900)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	43.310	39.130	(145.020)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	736.500	383.300	489.883
	TOTAL EARNINGS	736.500	383.300	489.883
	Earnings / (Loss) Per Share (Rs.)	9.24	23.27	(86.25)

Particulars	31.03.2015
Sales Turnover (Approximately)	1730.000
	Due to market fluctuation

Expected Sales (2015-2016) : Rs.1900.000 Million

The above information has been parted by Mr. Vaidhiya Nathan (Accounts Officer)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	282.619	281.800	280.160
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(24.094)	82.613	328.640
Net cash flow from operating activity	141.105	288.710	522.008

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.86	2.75	(11.93)
Operating Profit Margin (PBIDT/Sales)	(%)	17.09	26.76	8.58
Return on Total Assets (PBT/Total Assets}	(%)	4.37	2.82	(10.42)
Return on Investment (ROI) (PBT/Networth)		0.99	2.09	20.10
Debt Equity Ratio (Total Debt /Networth)		19.49	67.70	(179.78)
Current Ratio (Current Asset/Current Liability)		0.70	0.44	0.44

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	16.814	16.814	46.000
Reserves & Surplus	(27.758)	11.372	54.061
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(10.944)	28.186	100.061
long-term borrowings	1261.886	980.469	1063.853
Short term borrowings	425.515	645.919	604.116
Current Maturities of Long-Term Debts	280.160	281.800	282.619
Total borrowings	1967.561	1908.188	1950.588
Debt/Equity ratio	(179.784)	67.700	19.494

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	1215.643	1421.279	2325.505
		16.916	63.621

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	1215.643	1421.279	2325.505
Profit/ (Loss)	(145.020)	39.130	43.310
	(11.93%)	2.75%	1.86%

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	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 four years	Yes
27	Reasons for variation <> 20%	Yes
28	Estimation for coming financial year	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans repayable on demand	144.891	50.403
Deposits from Others	2.010	2.130
Loans and advances from related parties	1.018	28.604
Total	147.919	81.137

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10463717	29/11/2013	350,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	391, AISWARYA COMPLEX, TENKASI ROAD, RAJAPALAYAM, Tamilnadu - 626117, INDIA	B90916636
2	10320410	12/11/2011	200,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	391, AISWARYA COMPLEX, TENKASI ROAD, RAJAPALAYAM  , Tamilnadu - 626117, INDIA	B26501817
3	10312144	23/09/2011	36,700,000.00	INDIAN BANK	THOUSAND LIGHTS BRANCH, KANNAMMAI BUILDING, 611 A  NNA SALAI, CHENNAI, Tamil Nadu - 600006, INDIA	B23248172
4	10312145	23/09/2011	215,000,000.00	INDIAN BANK	THOUSAND LIGHTS BRANCH, KANNAMMAI BUILDING, 611 A  NNA SALAI, CHENNAI, Tamilnadu - 600006, INDIA	B23248404
5	10243093	28/09/2010	244,000,000.00	INDIAN BANK	THOUSAND LIGHTS BRANCH, KANNAMMAI BUILDINGS, NO.6  11, ANNA SALAI,, CHENNAI, Tamilnadu - 600006, IND  IA	A96108014
6	10144943	31/10/2012 *	3,246,300,000.00	CANARA BANK	883, TENKASI ROAD, RAJAPALAYAM, Tamil Nadu - 626117, INDIA	B64557424
7	10095729	03/06/2011 *	160,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED	LIC BUILDING, FIRST FLOOR, NO.3, WEST MARRET ST.  OPPOSITE TO RAILWAY STATION,, MADURAI, Tamilnadu - 625001, INDIA	B14682777
8	10079635	30/12/2014 *	535,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	391,AISWARYA COMPLEX, TENKASI ROAD, RAJAPALAYAM,  Tamil Nadu - 626117, INDIA	C41141318
9	10055844	16/09/2008 *	878,000,000.00	CANARA BANK	883, TENKASI ROAD, RAJAPALAYAM, Tamilnadu - 626117, INDIA	A47087382
10	90297240	20/08/2009 *	518,500,000.00	INDIAN BANK	THOUSAND LIGHT BRANCH, NO.611, ANNA SALAI, KANNAM  MAI BUILDING, CHENNAI, Tamilnadu - 600006, INDIA	A70078209

FIXED ASSETS

Tangible Assets

• Land
• Buildings
• Plant and equipment
• Factory equipments
• Other plant and equipment
• Furniture and fixtures
• Vehicles

Intangible Assets

• 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.

Q

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.64.96
UK Pound	1	Rs.100.55
Euro	1	Rs.73.99

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KIN
Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

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.