MIRA INFORM REPORT

Report No. :	346822
Report Date :	28.10.2015

IDENTIFICATION DETAILS

Name :	KERN-LIEBERS (INDIA) PRIVATE LIMITED (w.e.f. 09.03.2015)
Formerly Known As :	KERN-LIEBERS SPRINGS AND STAMPINGS PRIVATE LIMITED (w.e.f. 30.05.2007) KERN-LIEBERS SOMAPPA PRECISION PARTS PRIVATE LIMITED
Registered Office :	# 143-151, Antharasahalli Industrial Area, IInd Phase, Tumkur-576102, Karnataka
Tel. No.:	91-816-2213100
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.10.2005
Com. Reg. No.:	08-037505
Capital Investment / Paid-up Capital :	Rs. 458.850 Million
CIN No.: [Company Identification No.]	U02919KA2005PTC037505
IEC No.:	0797000429
TIN No.:	29780496611
TAN No.: [Tax Deduction & Collection Account No.]	BLRK06930A
PAN No.: [Permanent Account No.]	AACCK7057N
Legal Form :	Private Limited Liability Company
Line of Business :	subject is engaged in manufacture of high precision parts like stampings and fine blanking components, wire springs for fuel injection systems (Diesel and Gasoline), and power springs for automotive and non-automotive applications and trading in knitting parts.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 1249000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated on 20^th October, 2005. It is subsidiary of Kern-liebers International GmbH, Germany. It has satisfactory track record. The company is continuously incurring accumulated losses from its operations. The rating also takes into consideration hefty debt level which leads to create risk to liquidity position of the company. It has modest networth and leveraged capital structure. However, trade relations are fair. Business is active. Payment are reported to be slow but correct. In view strong holdings, the company can be considered for business dealings at usual trade terms and conditions.

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 DENIED BY

Name :	Mr. Kanagary
Designation :	Finance Manager
Contact No.:	91-816-2213138/2213132
Date :	21.10.2015

LOCATIONS

Registered Office :	# 143-151, Antharasahalli, Industrial Area, IInd Phase, Tumkur-576102, Karnataka, India
Tel. No.:	91-816-2213100
Fax No.:	91-816-2212120
E-Mail :	felix.reichardt@kern-liebers.de KL-india@kern-Liebers.com Kanagaray.P@kem-liebers.com
Website :	www.kern-liebers.in

DIRECTORS

As on 19.09.2014

Name :

Felix Christian Reichardt

Designation :

Managing Director

Address :

Behind Tuda Office, Kuvempu Nagar,, Tumkur-572104, Karnataka, India

Date of Birth/Age :

10.10.1977

Date of Appointment :

18.03.2011

DIN No.:

02039036

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	U02919KA2005PTC037505	KERN-LIEBERS (INDIA) PRIVATE LIMITED	Managing director	18/03/2011	07/06/2006	-	Active	NO
2	U29199KA1996PTC021251	KERNXX-LIEBERS (INDIA) PRIVATE LIMITED	Alternate director	01/07/2007	01/07/2007	-	Amalgamated	NO
3	U72900KA2013PTC072116	NONPLUS ULTRA HOME AUTOMATION PRIVATE LIMITED	Additional director	01/04/2015	01/04/2015	-	Active	NO

Name :

Mr. Murali Ananthasivan

Designation :

Director

Address :

77 and 78, 6th Cross, Bhuvaneshwarinagar, Hebbal- Dasarahalli, Off Bellary Road, Bangalore-560024, Karnataka, India

Date of Birth/Age :

20.06.1959

Date of Appointment :

20.10.2005

DIN No.:

00009311

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	U29199KA1996PTC021251	KERNXX-LIEBERS (INDIA) PRIVATE LIMITED	Additional director	02/11/1996	02/11/1996	-	Amalgamated	NO
2	U31909KA1995PTC017004	INFOGIX (INDIA) PRIVATE LIMITED	Director	05/02/1997	05/02/1997	28/06/2013	Active	NO
3	L55101KA1969PLC001795	EASTWEST HOTELS LIMITED	Director	06/05/2000	06/05/2000	-	Active	NO
4	U72200KA2005PTC035829	INGERSOLL-RAND INTERNATIONAL (INDIA) Private Limited	Director	08/06/2005	08/06/2005	20/09/2013	Active	NO
5	L28112KA1984PLC005873	MRO-TEK LIMITED	Director	10/08/2005	10/08/2005	30/10/2013	Active	NO
6	U02919KA2005PTC037505	KERN-LIEBERS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	-	Active	NO
7	U29220KA1974PTC044323	Ingersoll - Rand Technologies and Services Private Limited	Director	29/09/2014	23/12/2005	-	Active	NO
8	U51432KA2001PTC042359	THERMO KING INDIA PRIVATE LIMITED	Alternate director	15/12/2008	23/12/2005	20/09/2013	Active	NO
9	U51909KA2006PTC038703	SENSATA TECHNOLOGIES INDIA PRIVATE LIMITED	Director	08/03/2006	08/03/2006	14/12/2007	Active	NO
10	U01116TN1936PLC000018	THE AYER MANIS RUBBER ESTATE LIMITED	Director	14/04/2006	14/04/2006	-	Active	NO
11	U74300PN2004PTC147065	FERRERO INDIA PRIVATE LIMITED	Alternate director	18/05/2006	18/05/2006	18/05/2009	Active	NO
12	U33112KA2006PTC040088	Molecular Devices India Private Limited	Director	01/08/2006	01/08/2006	30/06/2008	Strike off	NO
13	U74140DL2006PTC249845	Aon Specialist Services Private Limited	Director	11/09/2006	11/09/2006	18/03/2008	Active	NO
14	U72400KA2005PTC037200	ACTIAN TECHNOLOGY PRIVATE LIMITED	Director	12/09/2006	12/09/2006	09/02/2008	Active	NO
15	U72200KA2006PTC040567	Com Dev Services India Private Limited	Director	20/09/2006	20/09/2006	21/05/2007	Active	NO
16	U74999TN2006PTC061395	CDM INDIA CORPORATE SERVICES PRIVATE LIMITED	Director	30/10/2006	30/10/2006	06/05/2009	Active	NO
17	U70102KA2007PTC043539	Epsillon Real Estate Private Limited	Alternate director	24/11/2010	04/08/2007	26/11/2010	Active	NO
18	U31901KA1960PTC001378	STUMPP SCHUELE & SOMAPPA PRIVATE LIMITED	Director	13/08/2007	13/08/2007	-	Active	NO
19	U73100TG2007PTC079319	Takshila Tech Parks & Incubators (India) Private Limited	Director	28/09/2007	28/09/2007	06/01/2010	Active	NO
20	U32204KA2007PTC044133	Boston IT Solutions(India) Private Limited	Director	16/10/2007	16/10/2007	30/06/2011	Active	NO
21	U30009KA2007PTC044448	element14 India Private Limited	Director	21/11/2007	21/11/2007	30/01/2008	Active	NO
22	U28113KA2007PTC044691	Present Overseas Engineering Solutions Private Limited	Director	17/12/2007	17/12/2007	28/11/2008	Active	NO
23	U32109KA2007PTC044692	CENTUM RAKON INDIA PRIVATE LIMITED	Director	17/12/2007	17/12/2007	07/02/2008	Active	NO
24	U29191TN2007PTC065771	Trane Design Centre Private Limited	Director	18/12/2007	18/12/2007	19/12/2007	Amalgamated	NO
25	U70102TG2008PTC081105	Alexandria Equities Management ( India) Private Limited	Alternate director	01/09/2010	17/01/2008	-	Active	NO
26	U72200TG2008FTC057202	uReach Telecom Solutions Private Limited	Director	18/01/2008	18/01/2008	30/06/2008	Active	NO
27	U72200KA2008PTC046172	CFdesign Software India Private Limited	Director	23/04/2008	23/04/2008	29/09/2008	Dissolved	NO
28	L17111TZ1989PLC005902	CHESLIND TEXTILES LIMITED	Director	19/09/2008	22/07/2008	20/04/2013	Amalgamated	NO
29	U70102KA1937PLC001292	BgSE Properties and Securities Limited	Director	25/09/2008	25/09/2008	15/09/2012	Active	NO
30	U29128KA2008PTC048131	Jupiter India Composites Private Limited	Director	29/10/2008	29/10/2008	23/06/2010	Active	NO
31	U72200KA2009PTC048992	MARKETSHARE INFOTECH (INDIA) PRIVATE LIMITED	Director	29/01/2009	29/01/2009	29/05/2009	Active	NO
32	U74900TG2009PTC063133	Genome Valley Tech Parks & Incubators Private Limited	Director	20/03/2009	20/03/2009	05/01/2010	Active	NO
33	U72200KA2009PTC049543	BigFix Software (India) Private Limited	Director	08/04/2009	08/04/2009	07/06/2010	Active	NO
34	U70102TG2009PTC063501	Cyberabad Biotech Parks Private Limited	Director	30/04/2009	30/04/2009	06/01/2010	Active	NO
35	U29308KA1960PTC001395	SENAPATHY WHITELEY PRIVATE LIMITED	Director	24/09/2009	19/06/2009	-	Active	NO
36	U70102KA2009PTC051423	Jupiter Lifespaces Bangalore Private Limited	Director	10/11/2009	10/11/2009	30/06/2011	Active	NO
37	U45200TG2009FTC065958	Alexandria Gujarat Tech Park Private Limited	Director	26/11/2009	26/11/2009	30/04/2010	Active	NO
38	U45200TG2009FTC066081	Alexandria Gachibowli Tech Park Private Limited	Director	02/12/2009	02/12/2009	30/04/2010	Active	NO
39	U72900HR2009PTC039825	Cognilytics Software and Consulting Private Limited	Director	15/12/2009	15/12/2009	20/12/2010	Active	NO
40	U45200AP2010FTC067592	Alexandria Mohali Tech Park Private Limited	Director	18/03/2010	18/03/2010	30/04/2010	Strike off	NO
41	U70102TG2010FTC067593	ALEXANDRIA HEALTHCITY HYDERABAD PRIVATE LIMITED	Director	18/03/2010	18/03/2010	30/04/2010	Active	NO
42	U45200TG2010FTC067685	Alexandria Gachibowli II Tech Park Private Limited	Director	26/03/2010	26/03/2010	30/04/2010	Active	NO
43	U85110AP2010FTC069766	Alexandria Healthcare India I Private Limited	Director	30/07/2010	30/07/2010	04/08/2010	Strike off	NO
44	U74900TG2010FTC069859	Alexandria Labspace India I Private Limited	Director	06/08/2010	06/08/2010	09/08/2010	Active	NO
45	U85100AP2010FTC070677	Alexandria Healthcare India II Private Limited	Director	04/10/2010	04/10/2010	18/10/2010	Strike off	NO
46	U74900TG2010FTC070679	Alexandria Labspace India II Private Limited	Director	04/10/2010	04/10/2010	18/10/2010	Active	NO
47	U85100AP2010FTC070996	ALEXANDRIA HEALTHCARE BANGALORE CITY PRIVATE LIMITED	Director	28/10/2010	28/10/2010	03/11/2010	Strike off	NO
48	U45209TG2011FTC072352	Alexandria Labspace Shameerpet Private Limited	Director	20/01/2011	20/01/2011	25/03/2011	Active	NO
49	U45209AP2011FTC072353	Alexandria Labspace Pune City Private Limited	Director	20/01/2011	20/01/2011	25/03/2011	Strike off	NO
50	U74999TG2011FTC072371	Alexandria Labspace - Electronics City Private Limited	Director	21/01/2011	21/01/2011	25/03/2011	Active	NO
51	U74999AP2011FTC072372	Alexandria Labspace India V Private Limited	Director	21/01/2011	21/01/2011	10/03/2011	Strike off	NO
52	U74990KA2011PTC057129	Novo Nordisk Service Centre (India) Private Limited	Director	15/02/2011	15/02/2011	27/07/2011	Active	NO
53	U72900TN2010FTC090700	IQ BACKOFFICE INDIA PRIVATE LIMITED	Director	17/08/2011	24/05/2011	07/06/2013	Active	NO
54	U74999KA2011PTC060253	Tarkett Flooring India Private Limited	Director	05/09/2011	05/09/2011	30/07/2013	Active	NO
55	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Director	28/09/2011	28/09/2011	17/06/2013	Active	NO
56	U74999TG2011FTC078009	ALEXANDRIA SERVICES (INDIA) PRIVATE LIMITED	Alternate director	06/09/2012	06/09/2012	-	Active	NO
57	U45205KA2014PTC073973	TechnoTrends AutoPark Private Limited	Director	05/03/2014	05/03/2014	30/04/2015	Active	NO
58	U74140TG2014PTC094207	Deloitte Special Projects India Private Limited	Director	27/05/2014	27/05/2014	13/02/2015	Active	NO
59	AAA-7760	ZAIKENN MANAGEMENT SERVICES LLP	Designated Partner	30/04/2015	30/04/2015	-	Active	NO

Name :

Richard Paul Michael Bannmuller

Designation :

Director

Address :

Holunderweg 2, D-78713, Schramberg, D78713, Germany

Date of Birth/Age :

16.07.1966

Date of Appointment :

14.11.2005

DIN No.:

02038693

Name :

Helmut Wolber

Designation :

Director

Address :

Albstr. 31, D-78739, Hardt, D78739, Germany

Date of Birth/Age :

08.10.1968

Date of Appointment :

20.10.2005

DIN No.:

02038891

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	U02919KA2005PTC037505	KERN-LIEBERS (INDIA) PRIVATE LIMITED	Director	20/10/2005	20/10/2005	-	Active	NO
2	U29199KA1996PTC021251	KERNXX-LIEBERS (INDIA) PRIVATE LIMITED	Director	01/07/2007	01/07/2007	-	Amalgamated	NO

KEY EXECUTIVES

Name :	Mr. Raghavendra Keshav
Designation :	Secretary
Address :	No.42 Srivana Layout, Bogadhi, Mysore-570026, Karnataka, India
Date of Birth/Age :	20.03.1972
Date of Appointment :	06.06.2014
PAN No.:	AFHPR8926G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.09.2014

Names of Shareholders	No. of Shares
Kern-liebers International Gmbh, Germany	74997200
Hugo-Kern UND Liebers, Gmbh, Germany	2800
Total	75000000

Equity Share Break up (Percentage of Total Equity)

As on 19.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in manufacture of high precision parts like stampings and fine blanking components, wire springs for fuel injection systems (Diesel and Gasoline), and power springs for automotive and non-automotive applications and trading in knitting parts.

Products :

Item Code No.	Product Description
84128020	Springs and Stampings

Brand Names :

Not Available

Agencies Held :

Not Available

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 :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name	Axis Bank limited
Branch	Not Divulged
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

· Deutsche Bank, Raheja Towers, M. G. Road, Bangalore-560001, Karnataka, India

Auditors :
Name :	Price Waterhouse and Company LLP Chartered Accountants
Address :	5th Floor Tower D, Millenia 1 and 2, Murphy Road, Ulsoor, Bangalore-560008, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAHFP0187A
Memberships :	--
Collaborators :	--
Holding company:	Kern-Liebers (India) Private Limited CIN No.: U29199KA1996PTC021251

CAPITAL STRUCTURE

After 19.09.2014

Authorised Capital : Rs. 1000.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 897.279 Million

As on 19.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
75,000,000	Equity Shares	Rs.10/- each	Rs. 750.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
75,000,000	Equity Shares	Rs.10/- each	Rs. 750.000 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000,000	Equity Shares	Rs.10/- each	Rs. 500.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
45,884,976	Equity Shares	Rs.10/- each	Rs. 458.850 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	458.850	458.850	358.850
(b) Reserves & Surplus	(312.744)	(145.422)	(125.205)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	291.150	0.000	100.000
Total Shareholders’ Funds (1) + (2)	437.256	313.428	333.645
(3) Non-Current Liabilities
(a) long-term borrowings	567.112	419.037	345.625
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	42.691	27.924
(d) long-term provisions	3.644	2.553	2.218
Total Non-current Liabilities (3)	570.756	464.281	375.767
(4) Current Liabilities
(a) Short term borrowings	177.122	196.214	120.711
(b) Trade payables	148.742	104.343	134.110
(c) Other current liabilities	326.222	175.459	138.633
(d) Short-term provisions	0.288	1.177	0.123
Total Current Liabilities (4)	652.374	477.193	393.577
TOTAL	1660.386	1254.902	1102.989
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	482.963	551.433	516.983
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	341.505	30.809	4.969
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	85.554	52.461	42.609
(e) Other Non-current assets	0.000	0.094	0.941
Total Non-Current Assets	910.022	634.797	565.502
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	352.738	302.842	241.262
(c) Trade receivables	241.598	204.978	214.003
(d) Cash and cash equivalents	39.420	11.496	11.217
(e) Short-term loans and advances	116.526	100.726	70.972
(f) Other current assets	0.082	0.063	0.033
Total Current Assets	750.364	620.105	537.487
TOTAL	1660.386	1254.902	1102.989

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
SALES
	Income	1099.309	878.398	786.169
	Other Income	NA	NA	NA
	TOTAL (A)	NA	NA	NA
EXPENSES
	TOTAL (B)	NA	NA	NA
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)		38.039	164.183	151.759
FINANCIAL EXPENSES (D)		(9.388)	58.255	53.168
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		47.427	105.928	98.591
DEPRECIATION/ AMORTISATION (F)		119.894	126.457	96.922
PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(167.321)	(20.529)	1.669
TAX (H)		0.000	0.000	6.341
PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(167.321)	(20.529)	(4.672)
Prior year adjustment		0.000	0.312	0.000
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(145.422)	(125.205)	120.533
BALANCE CARRIED TO THE B/S		(312.743)	(145.422)	115.861
EARNINGS IN FOREIGN CURRENCY
	Export Earnings	346.303	244.540	160.291
TOTAL EARNINGS		346.303	244.540	160.291
Earnings / (Loss) Per Share (Rs.)		(3.64)	(0.44)	(0.13)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.000	0.000	0.403
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(15.22)	(2.34)	(0.59)
Operating Profit Margin (PBIDT/Sales)	(%)	3.46	18.69	19.30
Return on Total Assets (PBT/Total Assets}	(%)	(12.69)	(1.68)	0.15
Return on Investment (ROI) (PBT/Networth)		(0.38)	(0.07)	0.01
Debt Equity Ratio (Total Debt /Networth)		1.70	1.96	1.40
Current Ratio (Current Asset/Current Liability)		1.15	1.30	1.37

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	358.850	458.850	458.850
Reserves & Surplus	(125.205)	(145.422)	(312.744)
Share Application money pending allotment	100.000	0.000	291.150
Net worth	333.645	313.428	437.256
long-term borrowings	345.625	419.037	567.112
Short term borrowings	120.711	196.214	177.122
Current maturities of long-term debts	0.403	0.000	0.000
Total borrowings	466.739	615.251	744.234
Debt/Equity ratio	1.399	1.963	1.702

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)
Income	786.169	878.398	1099.309
		11.731	25.149

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Income	786.169	878.398	1099.309
Profit	(4.672)	(20.529)	(167.321)
	(0.59%)	(2.34%)	(15.22%)

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

NOTE: Registered office of the company has been shifted from 139/2, Hosur Road, Koramangala, Bangalore-560095, Karnataka, India to the present address w.e.f. 04.05.2007

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	195.518	43.500
Term loans from others	371.594	375.537
Short-term borrowings
Term loans from banks	132.122	111.270
Working capital loans from banks	0.000	70.000
Loans repayable on demand	45.000	14.944
Total	744.234	615.251

GENERAL INFORMATION

The Company incorporated in Tumkur Karnataka and is a subsidiary of Kern-liebers International Gmbh, Germany. The Company is engaged in manufacture of high precision parts like stampings and fine blanking components, wire springs for fuel injection systems (Diesel and Gasoline), and power springs for automotive and non-automotive applications and trading in knitting parts. The company began commercial production in the year 2006.

INDEX OF CHARGES : NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Vehicle
• Furniture and fixtures
• Office equipment
• Computer

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.64.96
UK Pound	1	Rs.99.54
Euro	1	Rs.71.64

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	RAS
Report Prepared by :	JYTK

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	2
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	6
--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		41

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.