MIRA INFORM REPORT

Report No. :	503529
Report Date :	12.04.2018

IDENTIFICATION DETAILS

Name :	MINDA KYORAKU LIMITED (w.e.f. 30.09.2011)
Formerly Known As :	BLOWMOULDING ENGINEERING LIMITED
Registered Office :	B-64/1, Wazirpur Industrial Area, Delhi – 110052
Tel. No.:	91-1284-264139
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	17.08.2011
Com. Reg. No.:	55-223819
Capital Investment / Paid-up Capital :	INR 412.370 Million
CIN No.: [Company Identification No.]	U35122DL2011PLC223819
IEC No.: [Import-Export Code No.]	Not Divulged
PAN No.: [Permanent Account No.]	AAECB6805H
TAN No.: [Tax Deduction & Collection Account No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	07AAECB6805H1ZS
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is primarily involved in manufacture of blow moulding products, duct, spoiler, drain hose, cistern tank and warning triangle. (Registered Activity)
No. of Employees :	Not Divulged

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 1524000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Minda Industries Limited”. It was incorporated in the year 2011 and is primarily engaged in manufacture of blow moulding products, duct, spoiler, drain hose, cistern tank and warning triangle. As per the financial of March 2017, the company has registered a growth of 39.64% in its revenue as compared to its previous year’s revenue and has reported good profit margin of 7.96% during the year under review. Rating takes into consideration the company’s sound net worth base along with low solvency indicators and decent liquidity position. Further, the company has reported earnings per share of INR 2.48 against its face value of INR 10. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 12.04.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Mr. Anil Roy
Designation :	Manager
Contact No.:	91-8683001253
Date :	11.04.2018

LOCATIONS

Registered Office :	B-64/1, Wazirpur Industrial Area, Delhi – 110 052, India
Tel. No.:	Not Available
Mobile No.:	91-8683001229 (Mr. Vimal Kumar)
Fax No.:	Not Available
E-Mail :	info@mindagroup.com corpcomm@mindagroup.com investor@mindagroup.com akshukla@mkl.co.in
Website :	http://www.mindagroup.com
Head Office :	Plot No.327, Sector-3, Phase-II, Industrial Growth Centre, Bawal – 123 501, Rewari, Haryana, India
Tel. No.:	91-1284-264139
Fax No.:	91-1284-264138
Factory :	No.28F, Harohalli, Main Road, Glow Molding and Plastic Division, Abanak Kuppb, KIADB Industrial Area, Bidabi, Bangalore – 562 109, Karnataka, India

DIRECTORS

As on 2018

Name :

Mr. Nitesh Kumar Minda

Designation :

Managing Director

Address :

Flat No. GH-4-7B, Orchid Gardens, Sun City, Sector-54, Gurugram – 122002, Haryana, India

Date of Birth/Age :

01.07.1982

Qualification :

Graduate

Date of Appointment :

01.10.2011

PAN No.:

AJEPM6743K

DIN No.:

00408023

Name :

Mr. Anand Kumar Minda

Designation :

Director

Address :

N - 2/31, DLF Phase - II, Gurugram – 122001, Haryana, India

Date of Appointment :

25.10.2016

DIN No.:

00007964

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U35990DL2015PTC279706	MINDA TTE DAPS PRIVATE LIMITED	01/05/2015	-
U74899DL1985PTC020507	SWITCH AUTO PRIVATE LIMITED	12/09/2005	-
L67120DL1985PLC021349	MINDA FINANCE LIMITED	14/07/2010	-
L74899DL1992PLC050333	MINDA INDUSTRIES LIMITED	11/08/2011	-
U74899DL1995PTC073692	MINDARIKA PRIVATE LIMITED	01/01/2003	-
U45400DL2008PLC185619	MINDA REALTY & INFRASTRUCTURE LIMITED	10/12/2008	-
U65920DL1996PTC081214	AMV INVESTMENT AND FINANCIAL SERVICES PRIVATE LIMITED	16/08/1996	-
U29199DL1999PTC102387	MAA RUKMANI DEVI AUTO PRIVATE LIMITED	11/11/1999	-
U29253DL2015PTC275475	MINDA TG RUBBER PRIVATE LIMITED	14/01/2015	-
U29219DL2013PTC248215	MINDA NABTESCO AUTOMOTIVE PRIVATE LIMITED	18/07/2014	-
U29111DL1999PLC102709	SHANKAR MOULDING LIMITED	07/12/1999	-
U31909DL2000PTC104378	ENERGY LIGHTINGS PRIVATE LIMITED.	13/03/2000	-
U34300DL2011PLC227272	MINDA DISTRIBUTION AND SERVICES LIMITED	12/08/2016	-
U74900DL2009PLC186740	MINDA MINDPRO LIMITED	16/01/2009	-
U23201DL2001PLC111781	MINDA AUTOGAS LTD	18/08/2008	-
U74899DL1994PLC063761	MINDA INVESTMENTS LIMITED	10/02/2004	-

Name :

Mr. Ravi Mehra

Designation :

Director

Address :

C-301, Parkview City-1, Sector-48, Sohna Road, Gurugram – 122018, Haryana, India

Date of Appointment :

05.07.2016

DIN No.:

01651911

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74899DL1995PTC073692	MINDARIKA PRIVATE LIMITED	05/02/2018	-
U28111RJ2008PTC026385	TOYODA GOSEI MINDA INDIA PRIVATE LIMITED	11/05/2017	-
U34300KA2008PTC047401	TOKAI RIKA MINDA INDIA PRIVATE LIMITED	22/07/2016	-
U35122DL2011PLC223819	MINDA KYORAKU LIMITED	05/07/2016	-
U50400DL2012PTC238724	MINDA D-TEN INDIA PRIVATE LIMITED	24/06/2016	-
U35999DL2012FTC238701	DENSO TEN MINDA INDIA PRIVATE LIMITED	24/06/2016	-
U29253DL2015PTC275475	MINDA TG RUBBER PRIVATE LIMITED	25/07/2016	-

Name :

Mr. Alok Dutta

Designation :

Director

Address :

4710, DLF City, Phase 4, Gurugram -122002, Haryana, India

Date of Birth/Age :

18.11.1946

Qualification :

B. Tech, ICWA

Date of Appointment :

19.03.2015

DIN No.:

02792147

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
L74899DL1992PLC050333	MINDA INDUSTRIES LIMITED	24/12/2010	-
U74999HR2016PTC065198	ENGINEERING FIRST ENTERPRISES PRIVATE LIMITED	28/07/2016	-

Name :

Ms. Deepali Chandhoke

Designation :

Director

Address :

5-A, Factory Road, Opposite B-4/187-C, Krishana Nagar, Safdarjung Enclave, S.O., Delhi – 110029, India

Date of Birth/Age :

27.12.1968

Qualification :

B.A. LLB

Date of Appointment :

19.03.2015

DIN No.:

07144692

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U74899DL1995PTC073692	MINDARIKA PRIVATE LIMITED	05/02/2018	-
U51909DL2011PTC223728	MI TORICA INDIA PRIVATE LIMITED	03/10/2017	-
U29253DL2015PTC275475	MINDA TG RUBBER PRIVATE LIMITED	23/03/2017	-
U29130DL2015PTC278233	MINDA KOSEI ALUMINUM WHEEL PRIVATE LIMITED	27/07/2016	-
U51909DL2016PTC306953	MITIL POLYMER PRIVATE LIMITED	03/10/2017	-
U35999DL2017PTC315486	MINDA KATOLEC ELECTRONICS SERVICES PRIVATE LIMITED	02/02/2018	-

Name :

Kiyotaka Kawai

Designation :

Director

Address :

478-1, Kawamiya-Cho, Moriyama - Ku, Nagoya - Shi Aichi Japan 4630081

Date of Appointment :

13.05.2017

DIN No.:

03629226

Name :

Hiroyuki Ueshima

Designation :

Director

Address :

3-1-36 Miinoho Minoh 5620001 Japan

Date of Appointment :

08.02.2018

DIN No.:

08051481

KEY EXECUTIVES

Name :	Mr. Lalit Kumar Jangir
Designation :	Chief Finance Officer
Address :	Plot No. 327, Sector-3, Phase-II, IGC, Bawal, Rewari – 123501, Haryana, India
Date of Appointment :	22.05.2014
PAN No.:	AGHPJ1220G
Name :	Mr. Avnish Dhingra
Designation :	Company Secretary
Address :	House No. 3940, Street No.10, New Madhopuri, Ludhiana – 141008, Punjab, India
Date of Appointment :	28.10.2015
PAN No.:	AYJPD0939N
Name :	Mr. Anil Roy
Designation :	Manager

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders	No. of Shares
Anand Kumar Minda	49400
Nirmal Kumar Minda	100
Sudhir Jain	100
Harish Chander Dhamija	100
Brijesh Kumar Saini	100
Praveen Juneja	100
Debadas Panda	100
Minda Industries Limited, India	29550000
Kyoraku Company Limited, Japan	6400000
Nagase and Company Limited, Japan	4000000
Chiyoda Manufacturing Corporation, Japan	1237000
Total	41237000

Equity Share Break up (Percentage of Total Equity)

As on 11.07.2017

Category	Percentage
Promoters (Individual/Hindu Undivided Family – Indian)	0.12
Promoters (Body corporate)	99.88
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is primarily involved in manufacture of blow moulding products, duct, spoiler, drain hose, cistern tank and warning triangle. (Registered Activity)

Products / Services :

Item Code No.	Products/Services Description
87089900	Spolier

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 :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Banker Name :	Kotak Mahindra Bank Limited
Branch :	1st Floor, Asset Area 9, Ibis Commercial Block Hospitalitiy District, Delhi Aerocity, New Delhi-110037 India
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Yes Bank Limited

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Rupee term loans from banks	71.962	108.419
Loans repayable on demand from banks	(36.456)	(36.456)
Short-term borrowings
Loans repayable on demand from banks	0.225	126.150
Loans repayable on demand from others	0.000	28.368
Total	35.731	226.481

Auditors :
Name :	B S R and Company LLP Chartered Accountants
Address :	Building No.10, 8^th Floor,Tower-8 DLF Cyber City , Phase-II, Gurugram - 122002, Haryana, India
Income-tax PAN of auditor or auditor's firm :	AAAFB9852F
Memberships :	Not Available
Collaborators :	Not Available
Holding company :	Minda Industries Limited CIN No.: L74899DL1992PLC050333
Joint venture :	· Chiyoda Manufacturing Corporation · Kyoraku Company Limited · Nagase and Company Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Minda Distribution and Services Limited

CAPITAL STRUCTURE

After 11.07.2017

Authorised Capital : INR 620.070 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41237000	Equity Shares	INR 10/- each	INR 412.370 Million

As on 11.07.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
41237000	Equity Shares	INR 10/- each	INR 412.370 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41237000	Equity Shares	INR 10/- each	INR 412.370 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	412.370	412.370	412.370
(b) Reserves & Surplus	120.889	18.521	(24.151)
(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)	533.259	430.891	388.219
(3) Non-Current Liabilities
(a) long-term borrowings	35.506	71.963	135.204
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	15.813	11.089	8.766
Total Non-current Liabilities (3)	51.319	83.052	143.970
(4) Current Liabilities
(a) Short term borrowings	0.225	154.518	46.519
(b) Trade payables	109.777	122.695	54.592
(c) Other current liabilities	64.627	133.829	72.492
(d) Short-term provisions	1.534	6.288	0.281
Total Current Liabilities (4)	176.163	417.330	173.884
TOTAL	760.741	931.273	706.073
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	458.671	523.615	509.350
(ii) Intangible Assets	10.091	12.602	15.780
(iii) Capital work-in-progress	3.580	2.062	0.000
(iv) Intangible assets under development	1.324	1.160	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.739	0.000	0.000
(d) Long-term Loan and Advances	4.731	13.927	4.173
(e) Other Non-current assets	3.771	3.750	3.470
Total Non-Current Assets	482.907	557.116	532.773
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	99.799	124.034	46.321
(c) Trade receivables	122.918	204.353	105.128
(d) Cash and cash equivalents	27.766	6.968	5.579
(e) Short-term loans and advances	27.323	38.753	14.807
(f) Other current assets	0.028	0.049	1.465
Total Current Assets	277.834	374.157	173.300
TOTAL	760.741	931.273	706.073

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	1286.684	921.409	671.114
	Other Income	2.249	1.354	1.013
	TOTAL	1288.933	922.763	672.127
Less	EXPENSES
	Cost of Materials Consumed	637.631	467.613	344.317
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.845	(8.039)	13.372
	Employees benefits expense	155.954	125.626	84.205
	Other expenses	252.348	194.398	145.061
	TOTAL	1046.778	779.598	586.955
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	242.155	143.165	85.172
Less	FINANCIAL EXPENSES	18.627	21.948	23.920
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	223.528	121.217	61.252
Less/ Add	DEPRECIATION/ AMORTISATION	84.020	78.545	70.165
	PROFIT/ (LOSS) BEFORE TAX	139.508	42.672	(8.913)
Less	TAX	37.140	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	102.368	42.672	(8.913)
	IMPORTS
	Raw Materials	127.251	96.995	68.506
	Stores and Spares	9.083	0.659	1.696
	Capital Goods	2.334	62.601	14.388
	TOTAL IMPORTS	138.668	160.255	84.590
	Earnings / (Loss) Per Share (INR)	2.48	1.03	-0.22

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	36.456	36.456	42.951
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	303.056	62.180	75.325

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	34.87	80.95	57.18
Account Receivables Turnover (Income / Sundry Debtors)	10.47	4.51	6.38
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	62.84	95.77	57.87
Inventory Turnover (Operating Income / Inventories)	2.43	1.15	1.84
Asset Turnover (Operating Income / Net Fixed Assets)	0.51	0.27	0.16

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.33	0.56	0.50
Debt Equity Ratio (Total Liability / Networth)	0.14	0.61	0.58
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.33	0.97	0.45
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.89	1.25	1.35
Interest Coverage Ratio (PBIT / Financial Charges)	13.00	6.52	3.56

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	7.96	4.63	(1.33)
Return on Total Assets ((PAT / Total Assets) * 100)	%	13.46	4.58	(1.26)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	19.20	9.90	(2.30)

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.58	0.90	1.00
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.01	0.60	0.73
G-Score Ratio Financial (Networth / Total Assets)	0.70	0.46	0.55
G-Score Ratio Debt (Debts / Equity Capital)	0.18	0.64	0.54
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.58	0.90	1.00

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	412.370	412.370	412.370
Reserves & Surplus	(24.151)	18.521	120.889
Net worth	388.219	430.891	533.259
long-term borrowings	135.204	71.963	35.506
Short term borrowings	46.519	154.518	0.225
Current maturities of long-term debts	42.951	36.456	36.456
Total borrowings	224.674	262.937	72.187
Debt/Equity ratio	0.579	0.610	0.135

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	671.114	921.409	1286.684
		37.295	39.643

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	671.114	921.409	1286.684
Profit/ (Loss)	(8.913)	42.672	102.368
	(1.33%)	4.63%	7.96%

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	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

COMPANY OVERVIEW

The Company was incorporated in India on 17th August 2011. It is a joint venture between Minda Industries Limited, Nagase and Company Limited (Japan), Chiyoda Manufacturing Corporation (Japan) and Kyoraku Company Limited (Japan). The Company is primarily involved in manufacture of blow moulding products, duct, spoiler, drain hose, cistern tank and warning triangle.

PERFORMANCE REVIEW:

During the year the company has achieved revenue from its operations (net) of INR 1286.680 Million as against the previous year of INR 921.400 Million. Company has incurred profit of INR 139.510 Million during the current financial year as against the previous year of INR 42.670 Million.

INDEX OF CHARGES

S No	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Amount	Address
1	G36279883	100024718	KOTAK MAHINDRA BANK LIMITED	14/03/2016	23/01/2017	50000000.0	1ST FLOOR, ASSET AREA 9, IBIS COMMERCIAL BLOCK HOSPITALITIY DIST, DELHI AEROCITY NEW DELHI 110037 INDIA
2	C48444632	10509818	YES BANK LIMITED	23/06/2014	24/03/2015	17500000.0	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. A. B. ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA
3	B91824771	10449961	YES BANK LIMITED	02/08/2013	17/12/2013	65000000.0	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. A. B. ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA
4	C48443766	10391042	YES BANK LIMITED	23/10/2012	24/03/2015	100000000.0	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. A. B. ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA
5	B91579128	10391044	YES BANK LIMITED	23/10/2012	09/12/2013	120000000.0	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI, MUMBAI 400018, MAHARASHTRA, INDIA

FIXED ASSETS

· Land

· Building

· Plant and equipment

· Factory equipments

· Furniture and Fixture

· Vehicles

· 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 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	INR
US Dollar	1	INR 64.94
UK Pound	1	INR 91.75
Euro	1	INR 79.90

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	VIV
Report Prepared by :	JYTK

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.