MIRA INFORM REPORT

Report No. :	341101
Report Date :	16.09.2015

IDENTIFICATION DETAILS

Name :	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED
Formerly Known As :	TECHNOVA IMAGING SYSTEMS LIMITED (w.e.f. 14.09.1993) TECHNOVA PLATE MAKING SYSTEMS LIMITED
Registered Office :	Laxmi Mills Estate, Off. Dr. E. Moses Road, Mahalaxmi, Mumbai - 400011, Maharashtra
Tel. No.:	91-22-42200300
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment:	29.08.1979
Com. Reg. No.:	11-021599
Capital Investment / Paid-up Capital :	Rs. 119.637 Million
CIN No.: [Company Identification No.]	U74999MH1979PTC021599
TIN No.:	Not Available
IEC No.:	0388090774
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACT2165J
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the manufacturing and trading of Imaging Products
No. of Employees :	Information declined by the management

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1979 having satisfactory track. As per the available financials of the year 2014, external borrowings of the company has reduced as compared to previous year. Further net profit of the company has increased significantly over previous year. Overall financial position of the company is improving. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered 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	CRISIL
Rating	Long Term Rating = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	September 18, 2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	September 18, 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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Atul Kulkarni
Designation :	Finance Manager
Contact No.:	91-22-27412463
Date :	12.09.2015

LOCATIONS

Registered office :	Laxmi Mills Estate, Off. Dr. E. Moses Road, Mahalaxmi, Mumbai - 400011, Maharashtra, India
Tel. No.:	91-22-42200300/ 27412463 / 27412464 (Extension - 480) / 27402589 / 24983390 / 24938844
Fax No.:	91-22-24950322/ 27410261
E-Mail :	repro@technovaworld.com rk@technovaindia.com
Website :	http://www.technovaworld.com
Corporate Office / Factory :	Plot No. E1/2/3, MIDC, Taloja, Raigad - 410208, Maharashtra, India
Tel. No.:	91-22-27412463
Fax No.:	91-22-27410261
Domestic Office :	Located At : Ahmedabad Chennai Hyderabad Bengaluru Delhi Kochi Kolkata Mumbai Indore lucknow
Oversees Office :	Located At : · Dubai · South Africa · East Africa · United Kingdom and Europe · South America · North America · Sri Lanka

DIRECTORS

As on 26.09.2014

Name :

Mr. Pranav Natvarlal Parikh

Designation :

Managing Director

Address :

18 A, Manek, L. D. Ruparel Marg, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

18.02.1943

Qualification :

B.Com., MBA Havard

Date of Appointment :

30.11.2013

PAN No.:

AADPP7768H

Experience:

36 Years

DIN No.:

00318726

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Director	01/02/1969	01/02/1969	-	Active	NO
2	U63040MH1961PLC012067	TRAVEL CORPORATION (INDIA) LIMITED	Director	10/02/1970	10/02/1970	28/12/2006	Active	NO
3	U28129MH1974PTC018030	LEMUIR CONTAINERS PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Strike off	NO
4	U63040MH1974PTC018029	LEFA FREIGHT PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Strike off	NO
5	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Managing director	30/11/2013	29/08/1979	-	Active	NO
6	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	28/01/1986	28/01/1986	-	Active	NO
7	U45202MH1957PLC010885	SHREE LAXMI WOOLLEN MILLS ESTATE LIMITED	Director	29/06/1994	29/06/1994	-	Active	NO
8	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Alternate director	02/08/1999	02/08/1999	07/08/2012	Active	NO
9	L26100GJ1907PLC000033	ALEMBIC LIMITED	Director	28/03/2001	28/03/2001	31/03/2011	Active	NO
10	U74140MH2004PTC144831	A L MANAGEMENT PRIVATE LIMITED	Alternate director	28/08/2004	28/08/2004	07/08/2012	Active	NO
11	U74900DL2007PTC168260	TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED	Director	17/09/2007	17/09/2007	29/10/2010	Active	NO
12	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	29/08/2008	29/08/2008	04/04/2012	Active	NO
13	L24230GJ2010PLC061123	ALEMBIC PHARMACEUTICALS LIMITED	Director	29/08/2011	31/03/2011	-	Active	NO

Name :

Mr. Arvindbhai Natvarlal Parikh

Designation :

Director

Address :

241, 24^th Floor, Urvashi CHS Limited, 66 Petit Hall, Nepean Sea Road, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

19.10.1927

Date of Appointment :

29.08.1979

PAN No.:

AABPP7241B

DIN No.:

00319473

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Whole-time director	25/05/1950	25/05/1950	-	Active	NO
2	U63040MH1961PLC012067	TRAVEL CORPORATION (INDIA) LIMITED	Director	19/07/1961	19/07/1961	28/12/2006	Active	NO
3	U63040MH1974PTC018029	LEFA FREIGHT PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Strike off	NO
4	U28129MH1974PTC018030	LEMUIR CONTAINERS PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Strike off	NO
5	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	29/08/1979	29/08/1979	-	Active	NO
6	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	02/08/1999	02/08/1999	24/03/2011	Active	NO
7	U63090MH2002PTC135399	DHL DANZAS LEMUIR PRIVATE LIMITED	Director	03/04/2002	03/04/2002	-	Amalgamated	NO
8	U74140MH2004PTC144831	A L RECORDS MANAGEMENT PRIVATE LIMITED	Director	03/03/2004	03/03/2004	24/03/2011	Active	NO
9	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	10/06/2008	10/06/2008	04/04/2012	Active	NO

Name :

Mr. Jagdish Natvarlal Parikh

Designation :

Director

Address :

Ocean View, Flat No.104, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

07.02.1930

Date of Appointment :

29.08.1979

DIN No.:

00348650

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Director	03/08/1954	03/08/1954	-	Active	NO
2	U63040MH1961PLC012067	TRAVEL CORPORATION (INDIA) LIMITED	Director	19/07/1961	19/07/1961	28/12/2006	Active	NO
3	U28129MH1974PTC018030	LEMUIR CONTAINERS PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Strike off	NO
4	U63040MH1974PTC018029	LEFA FREIGHT PRIVATE LIMITED	Director	31/12/1974	31/12/1974	-	Strike off	NO
5	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	29/08/1979	29/08/1979	-	Active	NO
6	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	29/08/1979	29/08/1979	-	Active	NO
7	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	02/08/1999	02/08/1999	-	Active	NO
8	U63090MH2002PTC135399	DHL DANZAS LEMUIR PRIVATE LIMITED	Director	23/04/2003	23/04/2003	-	Amalgamated	NO
9	U74140MH2004PTC144831	A L RECORDS MANAGEMENT PRIVATE LIMITED	Director	12/08/2004	12/08/2004	-	Active	NO
10	U72900MH2005PTC153704	NOEMA (INDIA) PRIVATE LIMITED	Director	02/06/2005	02/06/2005	-	Active	NO
11	U92110MH1995PTC091089	TROPIC FILM PRIVATE LIMITED	Additional director	29/02/2008	29/02/2008	-	Active	NO
12	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	23/01/2009	23/01/2009	04/04/2012	Active	NO
13	U92412MH2013NPL244622	G5A FOUNDATION FOR CONTEMPORARY CULTURE	Director	18/06/2013	18/06/2013	-	Active	NO
14	U74120MH2013PTC250166	CHAPTER 24 CONSULTING PRIVATE LIMITED	Director	19/11/2013	19/11/2013	-	Active	NO

Name :

Mr. Jivan Gulabrai Bhatt

Designation :

Whole Time Director

Address :

556/ A, Shriketan, Adenwala Road, Matunga, Mumbai – 400 019, Maharashtra, India

Date of Birth/Age :

23.10.1952

Qualification :

M.Sc. (North California State University, U.S.A.)

Date of Appointment :

01.01.1989

PAN No.:

AAAPB8767D

Experience:

32 Years

DIN No.:

00435182

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	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Whole-time director	01/01/1989	01/01/1989	-	Active	NO
2	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	17/03/1989	17/03/1989	-	Active	NO
3	U74900DL2007PTC168260	TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED	Director	15/10/2008	11/10/2007	29/10/2010	Active	NO
4	U72200KA2010PTC055462	MSI SERVICES PRIVATE LIMITED	Director	15/03/2012	12/10/2010	-	Active	NO
5	U74900KA2011PTC057787	4D NATURAL STONES PRIVATE LIMITED	Director	27/03/2012	22/03/2011	-	Active	NO

Name :

Mrs. Snehal Arvind Parikh

Designation :

Director

Address :

5, Rushila Building, Carmichal Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

01.02.1955

PAN No.:

AGHPP7065K

Date of Appointment :

26.12.1988

DIN No.:

00467965

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	U35110MH1945PTC004675	LEE AND MUIRHEAD PRIVATE LIMITED	Managing director	19/06/1978	19/06/1978	-	Active	NO
2	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	26/12/1988	26/12/1988	-	Active	NO
3	U45203TN1994PTC045754	TIRUPUR CONTAINER TERMINALS PRIVATE LIMITED	Director	12/04/1994	12/04/1994	-	Active	NO
4	U63090MH2003PTC140699	LEMUIR SECURE LOGISTICS PRIVATE LIMITED	Director	03/06/2003	03/06/2003	-	Active	NO
5	U63030MH2003PTC142519	S P LOGISTICS PRIVATE LIMITED	Director	06/10/2003	06/10/2003	-	Active	NO
6	U63090MH1996PTC099340	DHL LOGISTICS PRIVATE LIMITED	Additional director	13/03/2008	13/03/2008	04/04/2012	Active	NO

Name :

Mrs. Maya Pranav Parikh

Designation :

Whole Time-Director

Address :

18 A, Manek, L D Ruparel Marg, Malabar Hill Mumbai – 400006, Maharashtr\a, India

Date of Birth/Age :

27.01.1978

Date of Appointment :

14.12.2001

PAN No.:

AFSPP0124P

Experience:

11 Years

DIN No.:

00468051

Name :

Ms. Shelina P. Parikh

Designation :

Whole Time Director

Address :

18 A, Manek, L. D. Ruparel Marg, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

25.07.1968

Qualification :

MBA-Harvard

Date of Appointment :

08.07.2014

PAN No.:

AFVPP8218F

Experience:

22 Years

DIN No.:

00468199

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	U24110MH1952PTC008855	TECHNOVA GRAPHICS PRIVATE LIMITED	Director	08/07/1994	08/07/1994	-	Active	NO
2	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Whole-time director	08/07/2014	08/07/1994	-	Active	NO
3	U80904MH2013PTC242039	TOSG ART EDUCATION PRIVATE LIMITED	Additional director	10/09/2013	10/09/2013	-	Active	NO

Name :

Mr. Ramkrishnan Gayathri

Designation :

Director

Address :

B1402, Anmol, 14th Floor, Opposite Patel Auto, Off S.V. Road, Goregaon (West), Mumbai – 400062, Maharashtra, India

Date of Birth/Age :

01.03.1963

Date of Appointment :

14.03.2007

Experience:

51 Years

DIN No.:

01733464

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	U74999MH1979PTC021599	TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED	Director	14/03/2007	14/03/2007	-	Active	NO
2	U74900DL2007PTC168260	TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED	Director	15/10/2008	11/10/2007	29/10/2010	Active	NO
3	U72900MH1980PTC022514	LASTRA NIRAJ PRIVATE LIMITED	Director	26/03/2008	26/03/2008	-	Active	NO
4	U28910MH2014PTC259884	TECHNOVA PREPRESS SOLUTIONS PRIVATE LIMITED	Director	02/12/2014	02/12/2014	-	Active	NO

Name :

Mr. Mangesh Shripad Kulkarni

Designation :

Director

Address :

201, Moti Mahal, 28 Senapari Bapat Marg, Mahim, Mumbai - 400016, Maharashtra India

Date of Birth/Age :

10.06.1942

Date of Appointment :

18.04.2001

PAN No.:

AACPK7623H

DIN No.:

00347908

KEY EXECUTIVES

Name :	Mr. Atul Kulkarni
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders	No. of Equity Shares	No. of Preferences Shares
Arvind N Parikh	127600	--
Arvind N Parikh (HUF)	3600	--
Anuradha Benegal	105500	--
Jagdish N Parikh (HUF)	600	--
Maya P Parikh Jointly with Pranav N Parikh	100200	--
Maya P Parikh	563100	--
Natverlal Parikh (HUF)	4500	--
Poorvi A Parikh Jointly with Arvind N Parikh	3600	--
Pranav N Parikh Jointly with Salome Pranav Parikh	214325	--
Pranav N Parikh	1800	1000000
Savita S Parikh Jointly with Snehal A Parikh	3600	--
Shelina P Parikh Jointly with Pranav N Parikh	109800	--
Shelina P Parikh	553500	--
Snehal A Parikh Jointly with Savita S Parikh	64800	--
Jivan G Bhatt Jointly with Nilakshi Bhatt	1075	--
Neal Prashant Parikh	41300	--
Jagdish N Parikh Jointly with Shila J Parikh	64800	--
TOTAL	1963700	1000000

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacturing and trading of Imaging Products

Products :

ITEM CODE NO. (ITC CODE)	PRODUCT DESCRIPTION
84425020	Lithographics Plates
37079010	Chemical Products Mixed for Photo Uses
38140010	Organic Composite Solvent and Thinners

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 :	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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Corporation Bank
Branch	Branch, Bharat House No.104, Ground Floor, Mumbai Samachar Marg, Fort, Mumbai- 400023, Maharashtra, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Lon from Bank	35.667	433.339
SHORT TERM BORROWING
Loan repayable on Demand from bank	1923.204	1788.656
Total	1958.871	2221.995

Auditors :
Name :	N.A. Shah and Associates Chartered Accountants
Address :	B 41 - 45 , Paragon Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400013, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFN5380N
Memberships :	--
Collaborators :	--
Associates :	Lastra Niraj Private Limited, India CIN No.:U72900MH1980PTC022514 TechNova Graphics Private Limited, India CIN No.:U24110MH1952PTC008855
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	AL Movers Private Limited, India CIN No.:U63000MH1999PTC121101

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1980000	Equity Shares	Rs.10/- each	Rs. 19.800 Million
1000000	Preference Shares	Rs.100/- each	Rs. 100.000 Million
20000	Unclassified Shares	Rs.10/- each	Rs. 0.200 Million
	Total		Rs. 120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1963700	Equity Shares	Rs.10/- each	Rs.19.637 Million
1000000	Preference Shares	Rs.100/- each	Rs. 100.000 Million
	Total		Rs. 119.637 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	119.637	119.637	119.637
(b) Reserves & Surplus	878.880	501.089	290.076
(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)	998.517	620.726	409.713
(3) Non-Current Liabilities
(a) long-term borrowings	842.767	1240.439	1635.155
(b) Deferred tax liabilities (Net)	43.138	61.413	31.790
(c) Other long term liabilities	100.431	65.309	60.405
(d) long-term provisions	97.395	98.289	85.516
Total Non-current Liabilities (3)	1083.731	1465.450	1812.866
(4) Current Liabilities
(a) Short term borrowings	1923.204	1788.656	1600.632
(b) Trade payables	722.127	696.288	548.055
(c) Other current liabilities	1164.852	1139.374	1215.765
(d) Short-term provisions	147.609	124.251	62.971
Total Current Liabilities (4)	3957.792	3748.569	3427.423
TOTAL	6040.040	5834.745	5650.002
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1518.753	1661.655	1789.197
(ii) Intangible Assets	40.864	1.928	8.218
(iii) Capital work-in-progress	20.129	12.257	42.033
(iv) Intangible assets under development	0.000	25.079	19.640
(b) Non-current Investments	0.000	0.000	51.120
(c) Deferred tax assets (net)	50.820	50.820
(d) Long-term Loan and Advances	108.794	131.206	182.508
(e) Other Non-current assets	2.932	10.948	8.485
Total Non-Current Assets	1742.292	1893.893	2101.201
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2731.016	2265.786	1974.330
(c) Trade receivables	1239.678	1309.785	1052.367
(d) Cash and cash equivalents	13.134	11.168	88.750
(e) Short-term loans and advances	248.107	314.646	369.222
(f) Other current assets	65.813	39.467	64.132
Total Current Assets	4297.748	3940.852	3548.801
TOTAL	6040.040	5834.745	5650.002

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL SALES	N.A	N.A	N.A
Less	TOTAL EXPENSES	N.A	N.A	N.A
	PROFIT/ (LOSS) BEFORE TAX	N.A	N.A	N.A
Less	TAX	N.A	N.A	N.A
	PROFIT/ (LOSS) AFTER TAX	409.380	226.966	17.354
	EARNING PER SHARE	138.13	110.22	3.51

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	387.031	442.279	367.021
Cash generated from operations	N.A	N.A	N.A
Net cash flow from operating activity	1056.473	585.905	833.976

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	3.16	5.59	8.79
Current Ratio (Current Asset/Current Liability)	1.09	1.05	1.04

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	119.637	119.637	119.637
Reserves & Surplus	290.076	501.089	878.880
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	409.713	620.726	998.517
long-term borrowings	1635.155	1240.439	842.767
Short term borrowings	1600.632	1788.656	1923.204
Current maturities of long-term debts	367.021	442.279	387.031
Total borrowings	3602.808	3471.374	3153.002
Debt/Equity ratio	8.793	5.592	3.158

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	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	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	No
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OPERATIONS

The Plate Business of the Company continued to experience challenges in the market place under overall economic climate. Further, the Company continues to focus aggressively on its initiatives to improve profitability through productivity improvement and cost optimization.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Lon from Bank	807.100	807.100
Total	807.100	807.100

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90213299	12/08/2015 *	3,911,250,000.00	CORPORATION BANK	CORPORATE BANKING BRANCH, BHARAT HOUSE NO.104, GROUND FLOOR, MUMBAI SAMACHAR MARG, FORT., MUMBAI- 400023,  MAHARASHTRA, INDIA	C63327308

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Factory Building

· Plant and Equipment

· Other plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

Intangible Assets

· Goodwill

· Computer software

· Copyrights, patents and other operating rights

· Patents

· Commercial contractual right

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 records 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] 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.66.43
UK Pound	1	Rs.102.40
Euro	1	Rs.75.04

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KIN
Report Prepared by :	RKI

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	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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.