MIRA INFORM REPORT

Report No. :	342588
Report Date :	26.09.2015

IDENTIFICATION DETAILS

Name :	CRAFTSMAN AUTOMATION PRIVATE LIMITED
Registered Office :	"Senthel Towers" IV Floor, 1078 Avanashi Road, Coimbatore – 641018, Tamilnadu
Tel. No.:	91-422-2210994/ 2212183/ 6615100/ 3021000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.07.1986
Com. Reg. No.:	18-001816
Capital Investment / Paid-up Capital :	Rs. 57.490 Million
CIN No.: [Company Identification No.]	U28991TZ1986PTC001816
IEC No.:	3290000125
TAN No.: [Tax Deduction & Collection Account No.]	CMBC03708F
PAN No.: [Permanent Account No.]	AABCC2461K
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is engaged in the manufacture of precision engineered machined components, sub-assemblies and assemblies catering to automotive sector and various other industrial applications such as general engineering, printing machinery, flow management valves and controls and storage systems.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 11000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1986 having satisfactory track. Available financial indicates company sound financial risk profile marked by healthy net worth position with decent profit margin and favorable gap between trade payables and trade receivables. The rating also takes into consideration company established position in the engineering contract manufacturing segment, supported by strong customer relationships and long track record of business operation. Trade relations are reported as fair. Business is active. Payments terms are ported to be usually correct and as per commitment. The company can be considered normal 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 carry moderate credit risk.
Date	31.03.2015

Rating Agency Name	CRISIL
Rating	Short term rating A3+
Rating Explanation	Moderate degree of safety and carry higher credit risk.
Date	31.03.2015

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 DENIED

Management non-cooperative (91-422-3051000/3021000)

LOCATIONS

Registered Office / Corporate Office :	"Senthel Towers" IV Floor, 1078 Avanashi Road, Coimbatore – 641018, Tamilnadu, India
Tel. No.:	91-422-2210994/ 2212183/ 6615100/ 3021000
Fax No.:	91-422-2211976/ 2210976/ 6615156
E-Mail :	info@craftsmanautomation.com craftman@md2.vsnl.net.in craftsman@craftsmanautomation.com
Website :	http://www.craftsmanautomation.com
Factory 1 :	E-43, SIDCO Industrial Estate, Kurichi, Coimbatore – 641 021, Tamilnadu, India
Tel. No.:	91-422-3023900
Fax No.:	91-422-3023911
Factory 2 :	123/4, Sangothipalayam Road, Arasur Post, Coimbatore – 641 407, Tamilnadu, India
Tel. No.:	91-422-3051000
Fax No.:	91-422-3051111
Factory 3 :	1251-B, Avanashi Road, Peelamedu, Coimbatore-641045, India
Factory 4 :	No.8, D&E Industrial Area, Sector-1, Pithampur, Dhar District – 454 775, Madhya Pradesh, India
Tel. No.:	91-729-2393300
Fax No.:	91-729-2393333
Factory 5 :	24-A/1-C, SIDCO Industrial Estate, North Phase, 1^st Cross Street, Ambattur, Coimbatore – 600 098, India
Tel. No.:	91-442-6250382
Fax No.:	91-442-6250382
Factory 6 :	Plot No.M-3 (P), Large Sector, Adityapur Industrial Area, Sriramput Gamharia, Saratkela, Jamshedpur – 832 108, Jharkhand, India
Tel. No.:	91-657-3987000
Fax No.:	91-657-3987033
Factory 7 :	Plot No.L-3, Phase-II, SIPCOT Industrial Park, Sriperubudur, Kancheepuram District – 602 105, Tamilnadu, India
Tel. No.:	91-442-6250382
Fax No.:	91-442-6250382
Factory 8 :	Gat No.1224/02, Survey No.112/2, Sanaswadi Village, Shirur Taluk, Pune – 412 203, Maharashtra, India
Factory 9 :	Gat No.137, Hissa No.2, Sanaswadi Village, Shirur Taluk, Pune – 412 208, Maharashtra, India
Factory 10 :	Gat No.941 and 942, Hissa No.1, Sanaswadi Village, Shirur Taluk, Pune – 412 208, Maharashtra, India
Factory 11 :	Plot No.214, Sector-53, Ballabhgarh, District Faridabad – 121 004, Haryana, India

DIRECTORS

As on 31.12.2014

Name :

Mr. Srinivasan Ravi

Designation :

Managing Director

Address :

Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

18.03.1963

Date of Appointment :

13.11.2013

DIN No.:

01257716

PAN No.:

AEYPR9359H

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	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Managing director	13-11-2013	18-07-1986	-	Active	NO
2	U30007TN1989PTC018113	INTEGRA AUTOMATION PRIVATE LIMITED	Director	26-09-1989	26-09-1989	21-03-2009	Active	NO
3	U17111TZ1990PTC002572	ASHWINRAM SPINNING MILLS PRIVATE LIMITED	Director	01-09-2009	03-01-1990	22-03-2012	Active	NO
4	U29199TZ1991PTC003548	MASTERCRAFT ENGINEERS PRIVATE LIMITED	Director	11-12-1991	11-12-1991	27-02-2013	Active	NO
5	U29199TZ2007PTC013551	SHANMO ENGINEERING PRODUCTS INDIA PRIVATE LIMITED	Director	23-03-2007	23-03-2007	22-03-2012	Active	NO
6	U51900TZ2007PTC013823	CARL STAHL CRAFTSMAN ENTERPRISES PRIVATE LIMITED	Director	22-06-2007	22-06-2007	-	Active	NO
7	U29200TZ2007PTC014014	MC CRAFTSMAN MACHINERY PRIVATE LIMITED	Director	06-11-2007	06-11-2007	-	Active	NO

Name :

Dr. Govindasamy Naidu Srinivasan

Designation :

Director

Address :

Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore – 641 018, Tamilnadu, India

Date of Birth/Age :

19.01.1928

Date of Appointment :

01.11.1996

DIN No.:

02369228

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	U30007TN1989PTC018113	INTEGRA AUTOMATION PRIVATE LIMITED	Director	26-09-1989	26-09-1989	21-03-2009	Active	NO
2	U17111TZ1990PTC002572	ASHWINRAM SPINNING MILLS PRIVATE LIMITED	Director	03-01-1990	03-01-1990	-	Active	NO
3	U29199TZ1991PTC003548	MASTERCRAFT ENGINEERS PRIVATE LIMITED	Director	11-12-1991	11-12-1991	24-12-2008	Active	NO
4	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Director	01-11-1996	01-11-1996	-	Active	NO
5	U29199TZ2007PTC013551	SHANMO ENGINEERING PRODUCTS INDIA PRIVATE LIMITED	Director	22-03-2012	22-03-2012	-	Active	NO

Name :

Mr. Chandrashekar Bhide

Designation :

Director

Address :

104, Ajay Thkataria Marg, Mahim, Mumbai – 400 016, Maharashtra, India

Date of Birth/Age :

12.07.1948

Date of Appointment :

11.09.2013

DIN No.:

00027967

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	U99999MH1986PLC040885	RING PLUS AQUA LIMITED	Director	10-06-2008	01-12-1992	24-07-2009	Active	NO
2	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Director	11-09-2013	31-01-2011	-	Active	NO

Name :

Mr. Namit Arora

Designation :

Nominee Director

Address :

Flat No.202, 2^nd Floor, Monika Co-operative Housing Society, Fazal Soboni St, Colaba Wood HSE Road, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

19.11.1971

Date of Appointment :

21.08.2012

DIN No.:

02577648

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	U91990MH2005GAP152320	INDIAN ASSOCIATION OF INVESTMENT PROFESSIONALS	Director	30-09-2008	30-09-2008	-	Active	NO
2	U15312DL2005PTC139164	BUSH FOODS OVERSEAS PRIVATE LIMITED	Director	30-09-2011	31-03-2011	28-03-2013	Active	NO
3	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Nominee director	21-08-2012	02-08-2012	-	Active	NO
4	U45203PY2006PTC001945	KARAIKAL PORT PRIVATE LIMITED	Additional director	19-12-2013	19-12-2013	-	Active	NO
5	U05005TG1995PLC021217	OCEAN SPARKLE LIMITED	Additional director	25-12-2013	25-12-2013	-	Active	NO
6	U24120MH1982PLC026867	PRIVI ORGANICS LIMITED	Nominee director	16-01-2014	16-01-2014	-	Active	NO
7	L70200MH2002PLC136849	MAN INFRACONSTRUCTION LIMITED	Nominee director	10-02-2014	10-02-2014	-	Active	NO

Name :

Mr. Kallakurichi Kanniah Balu

Designation :

Director

Address :

17/11, Syndicate Enclave, Sengani Amman Koil St, Maduvankarai, Chennai – 600 032, Tamilnadu, India

Date of Birth/Age :

15.09.1944

Date of Appointment :

11.09.2013

DIN No.:

03640304

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	U65929TN2010PLC078004	SHRIRAM HOUSING FINANCE LIMITED	Additional director	06-10-2011	06-10-2011	13-01-2012	Active	NO
2	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Director	11-09-2013	12-11-2011	-	Active	NO
3	L65110TN1916PLC001295	THE KARUR VYSYA BANK LIMITED	Director	30-07-2012	27-01-2012	-	Active	NO
4	U18101TZ2004PTC011330	RENAISSANCE RTW ASIA PRIVATE LIMITED	Director	31-08-2012	31-08-2012	-	Active	NO

Name :

Mr. Ravi Gauthamram

Designation :

Director

Address :

Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore, 641018, Tamilnadu, India

Date of Birth/Age :

13.04.1988

Date of Appointment :

20.02.2014

DIN No.:

06789004

KEY EXECUTIVES

Name :	Mr. Sundaram Rajamanickam
Designation :	Secretary
Address :	3/25, Kondasamy Naidu Street, Velandipalayam, Coimbatore – 641 025, Tamilnadu, India
Date of Birth/Age :	25.03.1967
Date of Appointment :	05.03.2008
PAN No.:	AEYPR5618D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2014

Names of Shareholders	No. of Shares	Percentage
S. Ravi	303750	52.83
S. Murali	60750	10.57
K. Gomatheswaran	40500	7.04
International Finance Corporation, USA	80803	14.06
Standard Chartered Private Equity (Mauritius) II Limited, Mauritius	89100	15.50
Total	574903	100.00

Equity Share Break up (Percentage of Total Equity)

As on 31.12.2014

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	29.56
Directors or relatives of Directors	63.40
Other top fifty shareholders	7.04
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the manufacture of precision engineered machined components, sub-assemblies and assemblies catering to automotive sector and various other industrial applications such as general engineering, printing machinery, flow management valves and controls and storage systems.

Products :

Item Code No.	Product Description
84819090	Industrial Valves Accessories
84834000	Gear and Gear Boxes
86079990	Parts of Railway Locomotives

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	Export-Import Bank of India
Branch	Floor 21,Centre One Building, World Trade Centre, Cuffe Parade, Mumbai - 400005, 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

· IDBI Bank Limited, Excellence, 4th Floor, No.104, Race Course Road,, Coimbatore - 641018, Tamilnadu, India

· State Bank of India, Commercial Branch, 1443 Trichy Road, P.B. 3902, Coimbatore - 641018,Tamilnadu, India

· ICICI Bank Limited, 1090, Cheran Plaza, Trichy Road, Coimbatore - 641018, Tamilnadu, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	567.071	333.036
Foreign currency term loans from banks	2271.751	2347.741
Short-term borrowings
Loans repayable on demand	1568.982	1475.676
Total	4407.804	4156.453

Banking Relations :	--
Auditors :
Name :	PKF Sridhar and Santhanam Chartered Accountants
Address :	No 3 8 – 1, Raghupathy Layout, Coimbatore-641011, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	ANZPS9856A
Memberships :	--
Collaborators :	--
Associates :	· Mastercraft Engineers Private Limited CIN No.: U29199TZ1991PTC003548
Joint venture :	· Mc Craftsman Machinery Private Limited CIN No.: U29200TZ2007PTC014014 · Carl Stahl Craftsman Enterprises Private Limited CIN No.: U51900TZ2007PTC013823
Subsidiaries	· Craftsman Automation Singapore Pte Limited, Singapore · Craftsman Marine B.V. Netherlands

CAPITAL STRUCTURE

As on 31.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.100/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
574,903	Equity Shares	Rs.10/- each	Rs. 57.490 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	57.490	57.490	47.126
(b) Reserves & Surplus	3716.543	3295.943	1896.106
(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)	3774.033	3353.433	1943.232
(3) Non-Current Liabilities
(a) long-term borrowings	2838.822	2680.777	2979.548
(b) Deferred tax liabilities (Net)	656.645	605.161	498.170
(c) Other long term liabilities	0.000	0.000	6.111
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	3495.467	3285.938	3483.829
(4) Current Liabilities
(a) Short term borrowings	1936.325	1827.958	1457.095
(b) Trade payables	1053.892	635.195	1166.069
(c) Other current liabilities	1562.891	1105.700	1285.762
(d) Short-term provisions	45.838	49.299	79.466
Total Current Liabilities (4)	4598.946	3618.152	3988.392
TOTAL	11868.446	10257.523	9415.453
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7192.825	6201.352	5212.908
(ii) Intangible Assets	44.397	8.014	3.160
(iii) Capital work-in-progress	126.595	115.554	544.044
(iv) Intangible assets under development	0.000	0.000	12.283
(b) Non-current Investments	35.983	35.983	35.983
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1232.232	822.056	669.793
(e) Other Non-current assets	0.000	1.463	7.393
Total Non-Current Assets	8632.032	7184.422	6485.564
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1221.770	1440.196	1298.814
(c) Trade receivables	1395.080	1044.076	1020.962
(d) Cash and cash equivalents	57.106	89.117	170.967
(e) Short-term loans and advances	562.458	499.712	439.146
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	3236.414	3073.101	2929.889
TOTAL	11868.446	10257.523	9415.453

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Operating revenue	5875.600	5713.200	6001.000
		Other Income	86.200	24.300	9.900
		TOTAL	5961.800	5737.500	6010.900
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	4337.500	4140.400	4415.500
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1624.300	1597.100	1595.400
Less	FINANCIAL EXPENSES AND DEPRECIATION/ AMORTISATION		1111.900	1006.300	884.700
	PROFIT BEFORE TAX		512.400	590.800	710.700
Less	TAX		87.300	168.600	215.600
	PROFIT AFTER TAX		425.100	422.200	495.100
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1029.500	655.800	215.700
Less	APPROPRIATIONS
		Transfer to General Reserve	42.500	42.200	49.500
		Provision for Dividend Distribution Tax	1.000	0.900	0.800
		Proposed Dividend 10%	5.700	5.400	4.700
	BALANCE CARRIED TO THE B/S		1405.400	1029.500	655.800
	Earnings Per Share (Rs.)		739.42	734.38	1050.58

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	813.638	594.359	490.347
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	1892.430	483.789	1861.201

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	7.24	7.39	8.25
Operating Profit Margin (PBIDT/Sales)	(%)	27.64	27.95	26.59
Return on Total Assets (PBT/Total Assets}	(%)	4.38	5.85	8.05
Return on Investment (ROI) (PBT/Networth)		0.14	0.18	0.37
Debt Equity Ratio (Total Debt /Networth)		1.48	1.52	2.54
Current Ratio (Current Asset/Current Liability)		0.70	0.85	0.73

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	47.126	57.490	57.490
Reserves & Surplus	1896.106	3295.943	3716.543
Net worth	1943.232	3353.433	3774.033
long-term borrowings	2979.548	2680.777	2838.822
Short term borrowings	1457.095	1827.958	1936.325
Current maturities of long-term debts	490.347	594.359	813.638
Total borrowings	4926.990	5103.094	5588.785
Debt/Equity ratio	2.535	1.522	1.481

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)
Operating revenue	6001.000	5713.200	5875.600
		(4.796)	2.843

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Operating revenue	6001.000	5713.200	5875.600
Profit	495.100	422.200	425.100
	8.25%	7.39%	7.24%

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	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	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

NOTE: Registered office of the company has been shifted from 15, LML Colony, P.N. Palayam, Coimbatore – 641 037, Tamilnadu, India to the present address.

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Other loans and advances	367.343	352.282
Total	367.343	352.282

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10587829	24/08/2015	330,000,000.00	EXPORT- IMPORT BANK OF INDIA	FLOOR 21, CENTRE ONE BUILDING,, WORLD TRADE CENTRE COMPLEX,CUFFE PARADE,, MUMBAI, Maharashtra - 400  005, INDIA	C62505037
2	10549834	31/01/2015	315,000,000.00	EXPORT- IMPORT BANK OF INDIA	FLOOR 21, CENTRE ONE BUILDING,, WORLD TRADE CENTRE COMPLEX,CUFFE PARADE,, MUMBAI, Maharashtra - 400005, INDIA	C43931708
3	10550382	11/05/2015 *	2,222,500,000.00	STATE BANK OF INDIA	MID- CORPORATE GROUP,, COMMERCIAL BRANCH, 1443, TRICHY ROAD,, COIMBATORE, Tamil Nadu - 641018, INDIA	C55315287
4	10522506	22/04/2015 *	305,500,000.00	STANDARD CHARTERED BANK	NO.19,, RAJAJI SALAI,, CHENNAI, Tamil Nadu - 600001, INDIA	C52678398
5	10518703	11/05/2015 *	250,000,000.00	INDIAN BANK	P N PALAYAM BRANCH,1134,SABTHARANG BUILDING,, AVINASHI ROAD, P NPALAYAM,, COIMBATORE, Tamil Nadu  - 641037, INDIA	C55448823
6	10482047	20/12/2014 *	125,000,000.00	EXPORT - IMPORT BANK OF INDIA	FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTRE, CUFFEE PARADE,, MUMBAI, Maharashtra - 400005, INDIA	C49230493
7	10435630	20/12/2014 *	270,000,000.00	STANDARD CHARTERED BANK	509, D. B. ROAD,, R.S. PURAM,, COIMBATORE, Tamil  Nadu - 641002, INDIA	C48869820
8	10324945	20/12/2014 *	245,200,000.00	STANDARD CHARTERED BANK	509, D. B. ROAD,, R.S. PURAM,, COIMBATORE, Tamil  Nadu - 641002, INDIA	C48340004
9	10310560	20/12/2014 *	400,000,000.00	EXPORT- IMPORT BANK OF INDIA	FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTRE, CUFFEE PARADE,, MUMBAI, Maharashtra - 400005, INDIA	C48686794
10	10309475	28/07/2014 *	600,000,000.00	ICICI BANK LIMITED	1090, CHERAN PLAZA,, TRICHY ROAD, COIMBATORE, Tamil Nadu - 641018, INDIA	C47921879

* Date of charge modification

FINANCIAL PERFORMANCE:

The operating revenue for the year 2013-14 was at Rs. 5875.600 Million, an increase of 2.84% over the 2012-13 operating revenue of Rs. 5713.000 Million.

The marginal growth has been achieved during the year despite continued weakness in the economic scenario in India during the financial year 2013-14. In addition, the Company undertook certain cost reduction initiatives, which resulted in an increase of 1.70% in EBITDA over last year’s level.

However, due to increased depreciation (increase by Rs. 87.600 Million), term loan interest (increase by Rs. 18.100 Million) on the back of the on-going capacity expansion and the increase in materials consumption, the PBT has dropped by 13.27% to 512.400 Million vs. 590.800 Million last year. While the PAT was marginally higher than in the previous fiscal, the earnings per share was lower at Rs. 740 as against Rs. 783 in 2012-13, due to dilutive impact of fresh equity raise in August 2012 being applicable for only part of the year in 2012-13.

The cash profit was at Rs. 1057.100 Million as against Rs 1021.900 Million in 2012-13.

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Machinery

· Furniture and Fixtures

· Leasehold Improvements

· Office Equipments

· Computers

· 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.

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.66.09
UK Pound	1	Rs.100.88
Euro	1	Rs.73.95

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		47

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.