MIRA INFORM REPORT

Report No. :	339444
Report Date :	07.09.2015

IDENTIFICATION DETAILS

Name :	JAQUAR AND COMPANY PRIVATE LIMITED (w.e.f. 19.08.2009)
Formerly Known As :	JAQUAR AND COMPANY LIMITED (w.e.f. 01.07.1994) JAQUAR AND COMPANY PRIVATE LIMITED
Registered Office :	C-20, S.M.A. Co-Operative Industrial Estate Limited, G.T. Karnal Road, New Delhi – 110 033
Tel. No.:	91-11-27464808/ 4809/ 4746817
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.10.1983
Com. Reg. No.:	55-016665
Capital Investment / Paid-up Capital :	Rs.36.821 million
CIN No.: [Company Identification No.]	U52110DL1983PTC016665
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELJ04600B
PAN No.: [Permanent Account No.]	AAACJ2324F
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in manufacturing, assembling and trading of Sanitary ware, wellness, Hot Water Solutions, Washroom Accessories and Lighting Products
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

A (68)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 15174000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established and a reputed company having a fine track. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as trustworthy. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Long-Term Rating: IND AA -
Rating Explanation	Have high degree of safety and carry very low credit risk.
Date	28.02.2014

Rating Agency Name	FITCH
Rating	Short-Term Rating: IND A1+
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	28.02.2014

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 31-03-2013.

INFORMATION DECLINED

Management non-cooperative

(Tel. No.: 91-124-4746800)

LOCATIONS

Registered Office :	C-20, S.M.A. Co-Operative Industrial Estate Limited, G.T. Karnal Road, New Delhi – 110 033, India
Tel. No.:	91-11-27464808/ 4809/ 4746817
Fax No.:	91-11-27240388
E-Mail :	jaquar@indiabuildnet.com jaquar@bol.net.in support@jaquar.com accounts@jaquar.com
Website :	http://www.jaquar.com
Corporate Office :	Plot No.306, Udyog Vihar, Phase II, Gurgaon – 122 016, Haryana, India
Tel. No.:	91-124-4746800 (60 Lines)
Fax No.:	91-124-2346531/ 2346532
Factory 1 :	SP 53 , RIICO Industrial Area, Bhiwadi, Rajasthan, India
Tel. No.:	91-1493-518608 (30 Lines)
Fax No.:	91-1493-222808
Factory 2 :	E-Block, 426-427, Chopanki Industrial Area, District Alwar, Rajasthan, India
Tel. No.:	91-1493-516792/ 516793
Factory 3 :	SP 496 (B), RIICO Industrial Area, Bhiwadi, Rajasthan, India
Tel. No.:	91-1493-225008/ 224008/ 221008
Regional Office/ Orientation Centre :	Located at: · Ahmedabad · Bangalore · Bhopal · Bhubaneswar · Chandigarh · Chennai · Cochin · Dehradun · Guwahati · Gurgaon · Goa · Hyderabad · Indore · Jaipur · Jammu · Kolkata · Lucknow · Ludhiana · Mumbai · New Delhi · Nagpur · Pune · Patna · Raipur · Ranchi · Siliguri · Surat · Nasik · Kathmandu
Area Representatives :	Located at: · Agra · Akola · Amritsar · Aurangabad · Vadodara · Bhagalpur · Bilaspur · Calicut · Coimbatore · Dehradun · Dhanbad · Dharamshala · Faridabad · Goa · Gurgaon · Guwahati · Gwalior · Hissar · Jabalpur · Jalandhar · Jodhpur · Jhansi · Kanpur · Karnal · Kolhapur · Lucknow · Meerut · Moradabad · Muzaffarpur · Nagpur · Nasik · Noida · Patna · Raipur · Rajkot · Ranchi · Rohtak · Shimla · Solapur · Udaipur · U.P. (West) and Kumaon · Varanasi · Kathmandu

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sri Krishan Mehra

Designation :

Whole-Time Director

Address:

5, Flag Staff Road, Civil Lines, Delhi – 110 054, India

Date of Birth/Age :

15.12.1956

Qualification :

Graduate

Experience :

32 Years

Date of Appointment :

01.10.2013

PAN No.:

AAAPM6479R

DIN No.:

00058213

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	U52110DL1983PTC016665	JAQUAR AND COMPANY PRIVATE LIMITED	Whole-time director	01/10/2013	22/03/1984	-	Active	NO
2	U51496DL1991PTC042639	G.R. SALES PRIVATE LIMITED	Director	30/09/1991	30/09/1991	-	Active	NO
3	U74899DL1995PTC073342	SANRAJ FARMS PRIVATE LIMITED	Director	30/07/2005	28/06/2005	-	Active	NO
4	U45202CH2006PTC030178	AMTEX PACKAGINS PRIVATE LIMITED	Director	02/05/2006	02/05/2006	22/05/2006	Active	NO
5	U74899DL1982PTC013177	M G C ENTERPRISES PRIVATE LIMITED	Director	30/09/2009	15/12/2007	01/11/2011	Active	NO
6	U26960DL2009PTC188572	SANIPLUS OVERSEAS PRIVATE LIMITED	Director	18/03/2009	18/03/2009	-	Amalgamated	NO
7	U70100DL2012PTC237538	KOKAM REALTY PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Strike off	NO
8	U70102DL2012PTC237678	PROTEAS REALTY PRIVATE LIMITED	Director	18/06/2012	18/06/2012	-	Strike off	NO
9	U70200DL2012PTC237763	WARAS REALTY PRIVATE LIMITED	Director	20/06/2012	20/06/2012	-	Under Process of Striking off	NO
10	U29199DL1999PLC097822	SMG ENTERPRISES LIMITED	Director	17/01/2014	17/01/2014	-	Active	NO
11	U55101CH2011PTC032699	SWEET HOSPITALITY PRIVATE LIMITED	Director	12/05/2014	12/05/2014	-	Active	NO
12	L65993DL1990PLC039637	KRA LEASING LIMITED	Director	30/09/2014	30/05/2014	-	Active	NO

Name :

Mr. Rajesh Mehra

Designation :

Whole-Time Director

Address:

5, Flag Staff Road, Civil Lines, Delhi – 110 054, India

Date of Birth/Age :

04.09.1958

Qualification :

Graduate

Experience :

30 Years

Date of Appointment :

01.10.2013

PAN No.:

AAAPM2966R

DIN No.:

00058232

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	U51496DL1991PTC042639	G.R. SALES PRIVATE LIMITED	Director	30/09/1991	30/09/1991	-	Active	NO
2	U52110DL1983PTC016665	JAQUAR AND COMPANY PRIVATE LIMITED	Whole-time director	01/10/2013	01/02/1996	-	Active	NO
3	U74899DL1995PTC069771	PROMPT CAPITAL AND FINSER PRIVATE LIMITED	Director	03/04/1997	03/04/1997	-	Active	NO
4	U29199DL1999PLC097822	SMG ENTERPRISES LIMITED	Director	02/04/2000	02/04/2000	-	Active	NO
5	U25203DL1992PTC048851	ESSCO SANITATIONS PRIVATE LIMITED	Director	04/08/2003	04/08/2003	-	Active	NO
6	U74899DL1995PTC073342	SANRAJ FARMS PRIVATE LIMITED	Director	30/07/2005	28/06/2005	-	Active	NO
7	L65993DL1990PLC039637	KRA LEASING LIMITED	Managing director	12/12/2010	12/12/2005	-	Active	NO
8	U45202CH2006PTC030178	AMTEX PACKAGINS PRIVATE LIMITED	Director	02/05/2006	02/05/2006	22/05/2006	Active	NO
9	U74899DL1982PTC013177	M G C ENTERPRISES PRIVATE LIMITED	Director	30/09/2009	15/12/2007	01/11/2011	Active	NO
10	U26960DL2009PTC188572	SANIPLUS OVERSEAS PRIVATE LIMITED	Director	18/03/2009	18/03/2009	-	Amalgamated	NO
11	U70101DL2012PTC237537	FIRESPIKE REALTY PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Active	NO
12	U70100DL2012PTC237538	KOKAM REALTY PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Strike off	NO
13	U55101CH2011PTC032699	SWEET HOSPITALITY PRIVATE LIMITED	Director	12/05/2014	12/05/2014	-	Active	NO

Name :

Mr. Ajay Mehra

Designation :

Whole-Time Director

Address:

5, Flag Staff Road, Civil Lines, Delhi – 110 054, India

Date of Birth/Age :

27.06.1962

Qualification :

Graduate

Experience :

24 Years

Date of Appointment :

01.10.2013

PAN No.:

AAAPM2971Q

DIN No.:

00058245

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	U25203DL1992PTC048851	ESSCO SANITATIONS PRIVATE LIMITED	Director	07/08/1992	07/08/1992	-	Active	NO
2	U29199DL1999PLC097822	SMG ENTERPRISES LIMITED	Director	20/06/2000	20/06/2000	-	Active	NO
3	U52110DL1983PTC016665	JAQUAR AND COMPANY PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2003	-	Active	NO
4	U51496DL1991PTC042639	G.R. SALES PRIVATE LIMITED	Director	31/08/2004	31/08/2004	-	Active	NO
5	U74899DL1995PTC073342	SANRAJ FARMS PRIVATE LIMITED	Director	30/07/2005	28/06/2005	-	Active	NO
6	U45202CH2006PTC030178	AMTEX PACKAGINS PRIVATE LIMITED	Director	02/05/2006	02/05/2006	22/05/2006	Active	NO
7	U74899DL1982PTC013177	M G C ENTERPRISES PRIVATE LIMITED	Director	30/09/2009	15/12/2007	01/11/2011	Active	NO
8	U26960DL2009PTC188572	SANIPLUS OVERSEAS PRIVATE LIMITED	Director	18/03/2009	18/03/2009	-	Amalgamated	NO
9	U70102DL2012PTC237531	ALLIUM REALTY PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Active	NO
10	U70101DL2012PTC237537	FIRESPIKE REALTY PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Active	NO
11	U70200DL2012PTC237763	WARAS REALTY PRIVATE LIMITED	Director	20/06/2012	20/06/2012	-	Under Process of Striking off	NO
12	U55101CH2011PTC032699	SWEET HOSPITALITY PRIVATE LIMITED	Director	12/05/2014	12/05/2014	-	Active	NO
13	L65993DL1990PLC039637	KRA LEASING LIMITED	Director	30/09/2014	30/05/2014	-	Active	NO

Name :

Mr. Bharat Bhushan Duggal

Designation :

Whole-Time Director

Address:

A-5B/449, Paschim Vihar, Delhi – 110 063, India

Date of Birth/Age :

18.11.1955

Date of Appointment :

07.03.2005

DIN No.:

00058267

PAN No.:

AAHPD1399N

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	L74999DL1992PLC050472	SKN INDUSTRIES LIMITED	Director	15/04/1994	15/04/1994	-	Active	NO
2	U52110DL1983PTC016665	JAQUAR AND COMPANY PRIVATE LIMITED	Whole-time director	07/03/2005	07/03/2005	-	Active	NO

Name :

Mr. Ved Bandhu Aggarwal

Designation :

Whole-Time Director

Address:

A-2/85, Rajouri Garden, Delhi – 110 027, India

Date of Birth/Age :

28.01.1948

Date of Appointment :

07.03.2005

DIN No.:

00058284

PAN No.:

ABZPA9993N

Name :

Mr. Parichay Mehra

Designation :

Director

Address:

5, Flag Staff Road, Civil Lines, Delhi – 110 054, India

Date of Birth/Age :

24.12.1982

Qualification :

Graduate

Experience :

13 Years

Date of Appointment :

30.09.2010

DIN No.:

03204069

PAN No.:

AGAPM6716B

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	U52110DL1983PTC016665	JAQUAR AND COMPANY PRIVATE LIMITED	Director	30/09/2010	01/10/2009	-	Active	NO
2	U70102DL2012PTC237531	ALLIUM REALTY PRIVATE LIMITED	Director	15/06/2012	15/06/2012	-	Active	NO
3	U70102DL2012PTC237678	PROTEAS REALTY PRIVATE LIMITED	Director	18/06/2012	18/06/2012	-	Strike off	NO

KEY EXECUTIVES

Name :	Parvez Adi Amin
Designation :	President- Sales and Marketing
Date of Birth/Age :	57 Years
Qualification :	Graduate
Experience :	4 Years
Date of Appointment :	24.12.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Ajay Mehra	31620	8.59
Ajay Mehra and Sons (HUF)	1326	0.36
Deepika Mehra	31623	8.59
Essco Sanitations Limited, India	55161	14.98
G.R. Sales Private Limited, India	10050	2.73
Inder Singh	26	0.01
Joginder Singh	31	0.01
KRA Leasing Limited, India	91238	24.78
Kanav Mehra	1945	0.53
Ranbir Raj Mehra	1271	0.35
Micky Khosla	101	0.03
Malti Mehra	32771	8.90
Nishi Mehra	32299	8.77
N.L. Mehra and Sons (HUF)	1333	0.36
Pal Singh	4	0.00
Parichay Mehra	1658	0.45
Parakh Sehgal	1643	0.45
Parinay Mehra	1325	0.36
Rajesh Mehra	32615	8.86
Rajesh Mehra (HUF)	1350	0.37
S.K. Mehra	31669	8.60
S.K. Mehra and Sons (HUF)	1621	0.44
Sabhyata Setia	1877	0.51
SMG Enterprises Private Limited, India	1150	0.30
Vidhi Mehra	2500	0.67
Total	368207	100.00

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	42.80
Directors or relatives of directors	57.15
Other top fifty shareholders	0.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Marketing of Bath Fittings and Accessories.

Products :

Item Code No.	Product Description
84818020	Bath Fittings and Accessories

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

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 :

Information declined by the Management.

Bankers :

Banker Name	ICICI Bank Limited
Branch Address	Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, 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

Facilities :

Secured Loans	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS:
Rupee term loans from banks	0.000	17.117
Total	0.000	17.117

Auditors :
Name :	Daleep Bhatia and Company Chartered Accountants
Address :	19, Vasant Enclave, Rao Tula Marg, New Delhi – 110 057, India
Tel. No.:	91-11-26151888/ 26154255/ 26147624
Fax No.:	91-11-26151888
E-Mail :	daleepbhatia@rediffmail.com daleepbhatia19@yahoo.com
Income-tax PAN of auditor or auditor's firm :	AACFD8623J
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 :	Essco Sanitations, India Jaquar Mercantile, India N.L. Mehra and Sons (HUF), India Sri Krishan Mehra and Sons (HUF), India Ajay Mehra and Sons (HUF) Rajesh Mehra and Sons (HUF)
Associates:	KRA Leasing Limited, India (CIN No.: L65993DL1990PLC039637) Essco Sanitations Private Limited, India (CIN No.: U25203DL1992PTC048851) SMG Enterprises Private Limited, India (CIN No.: U29199DL1999PTC097822) G.R. Sales Private Limited, India (CIN No.: U51496DL1991PTC042639) Sanraj Farms Private Limited, India (CIN No.: U74899DL1995PTC073342)
Subsidiaries :	Foshan Jaquar Trading Limited, China

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
424000	Equity Shares	Rs.100/- each	Rs.42.400 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
368207	Equity Shares	Rs.100/- each	Rs.36.821 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	36.821	36.821	36.821
(b) Reserves & Surplus	5274.191	4127.502	3396.796
(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)	5311.012	4164.323	3433.617
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	139.682	127.355	119.196
(c) Other long term liabilities	77.044	72.500	66.933
(d) Long-term provisions	103.267	81.690	54.573
Total Non-current Liabilities (3)	319.993	281.545	240.702
(4) Current Liabilities
(a) Short term borrowings	14.091	42.807	45.434
(b) Trade payables	2738.168	2127.663	1496.271
(c) Other current liabilities	582.106	414.398	270.701
(d) Short-term provisions	744.267	531.800	434.585
Total Current Liabilities (4)	4078.632	3116.668	2246.991
TOTAL	9709.637	7562.536	5921.310
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2938.550	2674.077	2295.114
(ii) Intangible Assets	22.531	23.675	10.230
(iii) Capital work-in-progress	996.895	650.444	225.066
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	68.378	41.510	27.400
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	207.991	83.275	47.968
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4234.345	3472.981	2605.778
(2) Current assets
(a) Current investments	253.799	52.282	50.000
(b) Inventories	3077.053	2663.871	1840.690
(c) Trade receivables	1140.119	683.090	799.817
(d) Cash and cash equivalents	189.791	121.917	98.848
(e) Short-term loans and advances	813.332	566.271	525.464
(f) Other current assets	1.198	2.124	0.713
Total Current Assets	5475.292	4089.555	3315.532
TOTAL	9709.637	7562.536	5921.310

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	16541.783	12588.515	9493.543
		Other Income	41.841	29.305	65.607
		TOTAL	16583.624	12617.820	9559.150
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX		1146.689	730.707	684.570
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	384.459	237.321	206.786
	TOTAL EARNINGS		384.459	237.321	206.786
	Earnings/ (Loss) Per Share (Rs.)		3114.25	1984.50	1859.20

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current maturities of long-term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	1059.530	968.333	1016.134
Net cash flows from (used in) operating activities	1058.190	965.253	1016.134

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	6.93	5.80	7.21
Debt Equity Ratio (Total Debt /Networth)		0.00	0.01	0.01
Current Ratio (Current Asset/Current Liability)		1.34	1.31	1.48

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	36.821	36.821	36.821
Reserves & Surplus	3396.796	4127.502	5274.191
Share Application money pending allotment	0.000	0.000	0.000
Net worth	3433.617	4164.323	5311.012
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	45.434	42.807	14.091
Total borrowings	45.434	42.807	14.091
Debt/Equity ratio	0.013	0.010	0.003

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	9493.543	12588.515	16541.783
		32.601	31.404

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	9493.543	12588.515	16541.783
Profit	684.570	730.707	1146.689
	7.21%	5.80%	6.93%

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	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
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	No
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	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

PERFORMANCE:

The Company posted an all-round improved performance with an impressive top line growth and earnings reflecting the robustness of its corporate strategy of creating multiple drivers of growth. This performance is particularly noteworthy when viewed against the backdrop of the extremely challenging business context resulting out of a regulated regime.

The Company recorded revenue of Rs.16583.624 million (including other income of Rs.41.841 million) for the year ended 31^st March 2014 as compared to Rs.12617.820 million in the Previous Year 2012-13.

Other Income for the Year was Rs.41.841 million as compared to Rs.29.305 million in Previous Year. Other Income earned by the company during the year includes Interest from Banks and others, Dividend on Investments, Profit on sale of Mutual Funds, Rent Received, Service Charges and others.

The Earnings after Depreciation and Tax was Rs.1146.689 million as compared to Rs.730.707 million in Previous Year 2012-13.

BUSINESS SEGMENTS:

The Company is engaged in Manufacturing, Assembling and Trading of Sanitary ware, wellness, Hot Water Solutions, Washroom Accessories and Lighting Products through its plants established in Bhiwadi-Alwar, Rajasthan.

UNSECURED LOAN

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS:
Loans repayable on demand from others	14.091	25.690
Total	14.091	25.690

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10329055	07/12/2011	650,000,000.00	ICICI BANK LIMITED	LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B29565033
2	10194809	25/11/2010 *	50,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	B03796570
3	10154955	17/04/2009	15,000,000.00	CITIBANK N.A.	JEEVAN VIHAR, 3 SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA	A61420568
4	10154977	17/04/2009	60,000,000.00	CITIBANK N.A.	JEEVAN VIHAR, 3 SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA	A61431201
5	80045975	12/10/2011 *	367,500,000.00	CITIBANK N.A	JEEVAN BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B23923352
6	80010116	02/11/2011 *	400,000,000.00	STANDARD CHARTERED BANK	CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARA KHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B28154896

* Date of charge modification

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Office Equipments

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.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.40
UK Pound	1	Rs.101.19
Euro	1	Rs.73.89

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		68

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.