MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	SURIN AUTOMOTIVE PRIVATE LIMITED [w.e.f. 25.09.2007]
Formerly Known As :	KRISHNA AUTOCOMPONENTS PRIVATE LIMITED
Registered Office :	409, 12th Main, Rmv Extension , Bangalore - 560080, Karnataka
Tel. No.:	91-80-23611949
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	27.03.2006
CIN No.: [Company Identification No.]	U34300KA2006PTC038845
Capital Investment / Paid-up Capital :	INR 100.000 Million
PAN No.: [Permanent Account No.]	AACCK8026D
GSTN : [Goods & Service Tax Registration No.]	29AACCK8026D1ZM [Bangalore, Karnataka] 27AACCK8026D1ZQ [Pune, Maharashtra]
Legal Form :	Private Limited Liability Company
Line of Business :	· Manufacturer of bodies (including cabs) designed to be mounted on motor vehicle chassis, bodies for vehicles without chassis and unit construction bodies; bodies for passenger vehicles, lorries and special purpose vehicles; bodies of metal, wood, plastics or combination of these or other material · Manufacturer of Parts and Accessories of Motor vehicles and engines · Manufacturer of parts and accessories for machinery/equipment used by construction and mining industries [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+	Low Risk	Business dealings permissible with low risk of default

Maximum Credit Limit :	USD 3170000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 2006 and it having good track records. It manufactures large aggregates using self-manufactured or bought-out components, including metal stampings, hydraulic and fuel tanks, painted assemblies, machined components and seating systems. Customers are from the automotive (cars, trucks, buses, and tractors) and construction equipment industries. For the financial year 2017, the company has increased its revenue from operations as compared to previous year and maintained average profit margin of 4.08%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from established market position along with experienced management and improvement in the revenue as well as profitability during the year. However, rating strength is partially offset by vulnerability to cyclicality in the domestic automotive sector. Trade relations are fair. Payment terms are seems to be regular. In view of aforesaid, the company can be considered for normal 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

Country Name	Previous Rating (31.12.2017)	Current Rating (01.04.2018)
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	CIRISL
Rating	Long term rating: A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	30.05.2018

Rating Agency Name	CIRISL
Rating	Short term rating: A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	30.05.2018

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 23.06.2018.

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 DECLINED

Management non-cooperative [tel. no.: 91-80-40078113]

[91-80-23611949/ 23612019] not working

LOCATIONS

Registered Office :	409, 12th Main, RMV Extension, Bangalore – 560080, Karnataka, India
Tel. No.:	91-80-23611949 / 23612019
Fax No.:	91-80-23612218
E-Mail :	aman@surinauto.com marketing@surinauto.com arun@surinauto.com
Website :	www.surinauto.com
Corporate Office :	No 6A/6C, Peenya Industrial Area, 1, Bangalore – 560058, Karnataka, India
Tel. No.:	91-80-40078158
Fax No.:	91-80-40078158
Manufacturing Plants:	Plot 8, F-'1502 Block, M.I.D.C, Pimpri, Pune - 411 018, Maharashtra, India Gate No 202, 203, 219, 226/2, Village Bhamboli, Next to Philips, Pune - 410 501, Maharashtra, India No. 5, GST Road, Guduvencheri, Village, Chennai - 603 202, Tamilnadu, India Survey No: 548/1/2, Katrambakkam village, Chennai - 602 117, Tamilnadu, India Plot no. A26/2A, S. No. 321,322(pt) & 232(pt) Sipcot Industrial park, Pillaipakkam, Navalur Village, Sriperumbudur, Chennai – 602105, Tamilnadu, India Survey No. 820, 1B, 1A Chettipedu Road, Chennai - 602 107, Tamilnadu, India Plot no. A13, SIPCOT, Industrial Park, Pillaipakkam, Chennai - 602 105, Tamilnadu, India
Branch Offices:	No. 6A/6C Phase 1, Peenya Industrial Area, Bangalore - 560 058, Karnataka, India Khasra No.13/3, Shobhapur, Goharganj, Madhya Pradesh, India Plot No. A-194, Phase 1,Eldeco Sidcul Industrial Park, Sitarganj - 262 405, Uttarakhand, India Plot No-15 & 16,Sipcot Industrial Complex, Phase II, Mornapalli Village, Hosur - 635 102, Tamilnadu, India Plot No.536/537, MIA, Alwar, Rajasthan, India

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Aman Choudhari

Designation :

Managing director

Address :

409, 12th Main Road RMV Extension, Bangalore - 560080, Karnataka, India

Date of Birth/Age :

08.07.1969

Date of Appointment :

27.03.2006

DIN No.:

00528164

PAN No.:

ABGPC0986J

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27101KA1974PTC002501	KRISHNA FABRICATIONS PRIVATE LIMITED	26/10/1987	-
U28910KA1999PTC098012	SURIN INDUSTRIES PRIVATE LIMITED	30/09/2004	-
U50300KA1992PLC013818	SUVIR ENGINEERING LIMITED	25/08/2007	-
U72200KA1999PTC024616	BANGALORE SOFTWARE SERVICES PRIVATE LIMITED	06/01/1999	-

Name :

Mr. Surinder Choudhari

Designation :

Managing director

Address :

409, 12th Main Road RMV Extension, Bangalore – 560080, Karnataka, India

Date of Birth/Age :

18.08.1942

Date of Appointment :

27.03.2006

DIN No.:

00533528

PAN No.:

ABGPC0992C

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27101KA1974PTC002501	KRISHNA FABRICATIONS PRIVATE LIMITED	02/02/1974	-
U28910KA1999PTC098012	SURIN INDUSTRIES PRIVATE LIMITED	29/06/2002	-
U50300KA1992PLC013818	SUVIR ENGINEERING LIMITED	21/12/1992	-
U72200KA1999PTC024616	BANGALORE SOFTWARE SERVICES PRIVATE LIMITED	06/01/1999	-

Name :

Mr. Ravikant Uppal

Designation :

Additional Director

Address :

841,15th Main, 3rd Block, Koramangla, Bangalore - 560034, Karnataka, India

Date of Appointment :

11.11.2017

DIN No.:

00025970

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L40100GJ1995PLC025447	SUZLON ENERGY LIMITED	20/09/2013	-
U20232KA1978PLC003383	RAMAN BOARDS LTD	01/03/2007	-
U27300DL2017PTC324842	STEEL INFRA SOLUTIONS PRIVATE LIMITED	24/01/2018	-

Name :

Mr. Akash Choudhari

Designation :

Wholetime Director

Address :

409, 12th Main Road RMV Extension, Bangalore - 560080, Karnataka, India

Date of Appointment :

28.12.2007

DIN No.:

00528654

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27101KA1974PTC002501	KRISHNA FABRICATIONS PRIVATE LIMITED	27/03/2003	-
U28910KA1999PTC098012	SURIN INDUSTRIES PRIVATE LIMITED	11/03/2000	-
U50300KA1992PLC013818	SUVIR ENGINEERING LIMITED	25/08/2007	-
U67120KA1999PTC026138	AAA SOLUTIONS PRIVATE LIMITED	10/03/2000	-
U72200KA1999PTC024616	BANGALORE SOFTWARE SERVICES PRIVATE LIMITED	28/12/2001	-
U85110KA1989PTC010532	RELAKS FOODS PRIVATE LIMITED	10/03/2000	-

Name :

Mr. Arun Choudhari

Designation :

Director

Address :

409, 12th Main Road, R M V Extension, Bangalore – 560080, Karnataka, India

Date of Birth/Age :

26.02.1972

Date of Appointment :

07.06.2008

DIN No.:

02226290

PAN No.:

ABBPC3763A

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U27101KA1974PTC002501	KRISHNA FABRICATIONS PRIVATE LIMITED	04/03/2009	-
U27300DL2017PTC324842	STEEL INFRA SOLUTIONS PRIVATE LIMITED	30/04/2018	-
U28910KA1999PTC098012	SURIN INDUSTRIES PRIVATE LIMITED	28/09/2017	-
U72200KA1999PTC024616	BANGALORE SOFTWARE SERVICES PRIVATE LIMITED	28/06/1999	-
U93090KA2001NPL028969	YPO BANGALORE CHAPTER	30/09/2017	-

Name :

Mr. Anshuman Dev

Designation :

Director

Address :

5133 Prestige South Ridge 4th Cross, Dattatreyanagar BSK 3rd stage, Bangalore - 560085, Karnataka, India

Date of Birth/Age :

18.09.1961

Date of Appointment :

24.09.2014

DIN No.:

06969727

Name :

Mr. Parthasarathi Thiruvengadam

Designation :

Additional director

Address :

Flat No. 201, Yadugiri Nest, Malleswaram Bangalore, 60, 11th M N Road, Cluny Convent, Bangalore, Bangalore - 560003, Karnataka, India

Date of Appointment :

16.04.2015

DIN No.:

00016375

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
L85110KA1993PLC013869	CENTUM ELECTRONICS LIMITED	05/08/2016	-
U24119MH2002PLC136003	FINE ORGANIC INDUSTRIES LIMITED	13/11/2017	-
U74899KA1987PTC105765	MICROMATIC MACHINE TOOLS PRIVATE LTD	30/09/2015	-
U85110KA1990PLC011089	DTDC EXPRESS LIMITED	29/09/2015	-

Name :

Mr. Raghavan Sadagopan

Designation :

Additional director

Address :

Flat No.302, Emerald Green Apartments, 108,, 6th Main, 8th Cross, Malleswaran, Bangalore - 560003, Karnataka, India

Date of Appointment :

16.04.2015

DIN No.:

00002647

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U65990MH1994PLC083147	L & T FINANCE LIMITED	04/05/2006	-

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2016

Names of Shareholders	No. of Shares	% age holding
Surinder Choudhari	2578260	25.78
Sunita Choudhari	901890	9.02
Aman Choudhari	1655870	16.56
Arun Choudhari	1655870	16.56
Akash Choudhari	1655870	16.56
Surinder Choudhari and Sons HUF	168410	1.68
Aman Choudhari & Sons HUF	168410	1.68
Arun Choudhari & Sons HUF	168410	1.68
Akash Choudhari & Sons HUF	168410	1.68
Bangalore Software Services Private Limited, India	1100	0.01
Surin Industries Private Limited, India	877500	8.78
Total	10000000	100.00

AS ON: 28.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters (Individual/Hindu Undivided Family - Indian)	91.21
Promoters (Body corporate)	8.79
Total	100.00

BUSINESS DETAILS

Line of Business :

· Manufacturer of bodies (including cabs) designed to be mounted on motor vehicle chassis, bodies for vehicles without chassis and unit construction bodies; bodies for passenger vehicles, lorries and special purpose vehicles; bodies of metal, wood, plastics or combination of these or other material

· Manufacturer of Parts and Accessories of Motor vehicles and engines

· Manufacturer of parts and accessories for machinery/equipment used by construction and mining industries

[Registered Activity]

Products :

ITC Code No.	Product Descriptions
87082900	Other Parts & Accesses Of Bodies(Incl Cabs)
84313990	parts of other lifting, handling & loading machinery of hdg.no.8428
87079000	Other Bodies

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 (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

Not Divulged

Bankers :

Bank Name:	HDFC Bank Limited
Branch:	HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai-4000013, Maharashtra, India
Person Name (with Designation):	--
Contact Number:	--
Name of Account Holder:	--
Account Number:	--
Account Since (Date/ Year of A/c Opening):	--
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	--
Remarks:	--

· Standard Chartered Bank

Facilities :

SECURED LOANS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
LONG-TERM BORROWINGS
Rupee term loans from banks	220.034	182.450
SHORT TERM BORROWINGS
Working capital loans from banks	411.905	160.303
Total	631.939	342.753

Auditors :
Name :	B K Ramadhyani and Company Chartered Accountants
Address :	68, 4-B, Chitrapur Bhavan, 8Th Main, 15Th Cross , Malleswaram, Bangalore, Karnataka, India
Income-tax PAN of auditor or auditor's firm :	AABFB1153G
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:	· Krishna Fabrications Private Limited [U27101KA1974PTC002501] · Bangalore Software Services Private Limited [U72200KA1999PTC024616] · Surin Industries Private Limited [U28910KA1999PTC098012] · Arkay Fabsteel Systems Private Limited [U27109DL2008PTC181573]

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	INR 10/- each	INR 120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	INR 10/- each	INR 100.000 Million

FINANCIAL DATA

[all figures are in 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	100.000	100.000	100.000
(b) Reserves & Surplus	1009.337	769.230	594.923
(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)	1109.337	869.230	694.923
(3) Non-Current Liabilities
(a) Long-term borrowings	220.034	182.450	82.033
(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	22.965	29.951	20.296
Total Non-current Liabilities (3)	242.999	212.401	102.329
(4) Current Liabilities
(a) Short term borrowings	411.905	160.303	423.873
(b) Trade payables	827.217	830.299	594.607
(c) Other current liabilities	231.487	232.597	174.178
(d) Short-term provisions	14.415	3.904	1.762
Total Current Liabilities (4)	1485.024	1227.103	1194.420
TOTAL	2837.360	2308.734	1991.672
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	645.685	597.658	458.330
(ii) Intangible Assets	3.124	1.283	1.123
(iii) Capital work-in-progress	7.353	3.788	1.653
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	28.263	32.401	27.098
(d) Long-term Loan and Advances	61.191	60.690	42.877
(e) Other Non-current assets	8.417	4.815	8.626
Total Non-Current Assets	754.033	700.635	539.707
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	464.752	418.548	353.485
(c) Trade receivables	1536.273	1103.017	999.480
(d) Cash and cash equivalents	6.632	4.807	2.798
(e) Short-term loans and advances	65.794	56.846	78.944
(f) Other current assets	9.876	24.881	17.258
Total Current Assets	2083.327	1608.099	1451.965
TOTAL	2837.360	2308.734	1991.672

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Revenue from Operations	6467.082	5578.523	3882.561
		Other Income	23.125	22.599	19.107
		TOTAL	6490.207	5601.122	3901.668
Less	EXPENSES
		Cost of Materials Consumed	4956.621	4194.904	2955.009
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(36.547)	10.050	(32.675)
		Employees benefits expense	284.977	263.355	196.892
		Other expenses	749.867	671.073	511.452
		Prior Period Items	0.000	0.048	0.053
		CSR Expenditure	1.047	0.918	0.000
		TOTAL	5955.965	5140.348	3630.731
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		534.242	460.774	270.937
Less	FINANCIAL EXPENSES		45.170	44.398	54.039
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		489.072	416.376	216.898
Less/ Add	DEPRECIATION/ AMORTISATION		124.755	104.179	105.564
	PROFIT BEFORE TAX		364.317	312.197	111.334
Less	TAX		100.138	89.747	(8.810)
	PROFIT AFTER TAX		264.179	222.450	120.144
	Earnings Per Share (INR)		26.42	22.25	12.01

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	74.307	70.768	76.340
Net cash flows from (used in) operations	32.397	555.766	17.194
Net cash flows from (used in) operating activities	(51.273)	479.588	40.906

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	86.71	72.17	93.96
Account Receivables Turnover (Income / Sundry Debtors)	4.21	5.06	3.88
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	60.92	72.24	73.45
Inventory Turnover (Operating Income / Inventories)	1.15	1.10	0.77
Asset Turnover (Operating Income / Net Fixed Assets)	0.81	0.76	0.59

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.63	0.64	0.68
Debt Equity Ratio (Total Liability / Networth)	0.64	0.48	0.84
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.34	1.41	1.72
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.59	0.69	0.66
Interest Coverage Ratio (PBIT / Financial Charges)	11.83	10.38	5.01

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	4.08	3.99	3.09
Return on Total Assets ((PAT / Total Assets) * 100)	%	9.31	9.64	6.03
Return on Investment (ROI) ((PAT / Networth) * 100)	%	23.81	25.59	17.29

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.40	1.31	1.22
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.09	0.97	0.92
G-Score Ratio Financial (Networth / Total Assets)	0.39	0.38	0.35
G-Score Ratio Debt (Debts / Equity Capital)	7.06	4.14	5.82
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.40	1.31	1.22

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	100.000	100.000	100.000
Reserves & Surplus	594.923	769.230	1009.337
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	694.923	869.230	1109.337
long-term borrowings	82.033	182.450	220.034
Short term borrowings	423.873	160.303	411.905
Current Maturities of Long term debt	76.340	70.768	74.307
Total borrowings	582.246	413.521	706.246
Debt/Equity ratio	0.838	0.476	0.637

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	3882.561	5578.523	6467.082
		43.682	15.928

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	3882.561	5578.523	6467.082
Profit	120.144	222.450	264.179
	3.09%	3.99%	4.08%

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	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	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

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G72546369	100144079	HDFC BANK LIMITED	27/10/2017	-	-	250000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
2	G32772337	100070692	HDFC BANK LIMITED	25/11/2016	-	-	210000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
3	G35271519	10597425	HDFC BANK LIMITED	27/03/2015	09/12/2016	-	380000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
4	B84623917	10448168	HDFC BANK LIMITED	24/07/2013	-	-	100000000.0	HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
5	G63617955	10381324	HDFC BANK LIMITED	22/08/2012	27/10/2017	-	500000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN
6	B32322273	10336083	STANDARD CHARTERED BANK	13/02/2012	-	-	225000000.0	RAHEJA TOWERS, SIXTH FLOORNO. 26-27, M G ROADBANGALOREKA560001IN
7	B59105528	10307494	ICICI BANK LIMITED	08/08/2011	12/09/2012	-	400000000.0	3RD FLOOR, MYTREE CENTRE, NO 4/10HOSUR ROAD, BOMMANAHALLIBANGALOREKA560068IN
8	A96328042	10103440	STANDARD CHARTERED BANK	11/01/2008	08/10/2010	-	270000000.0	RAHEJA TOWERS, SIXTH FLOORNO. 26 - 27, M. G. ROADBANGALOREKA560001IN
9	G47014311	10270642	STANDARD CHARTERED BANK	08/03/2011	12/05/2011	29/05/2017	94000000.0	RAHEJA TOWERS, SIXTH FLOORNO. 26 - 27, M. G. ROADBANGALOREKA560001IN
10	G47016555	10336075	STANDARD CHARTERED BANK	13/02/2012	-	29/05/2017	130000000.0	RAHEJA TOWERS, SIXTH FLOORNO. 26-27, M G ROADBANGALOREKA560001IN
11	C39209960	10201317	INDUSIND BANK LIMITED	17/02/2010	-	16/12/2014	115000000.0	DU PARC TRINITY, WEST WING, I FLOORNO. 17, M G ROADBANGALOREKA560001IN
12	C39209069	10118964	STANDARD CHARTERED BANK	04/09/2008	09/09/2008	16/12/2014	80000000.0	RAHEJA TOWERS, SIXTH FLOORNO. 26-27, M. G. ROADBANGALOREKA560001IN
13	B62054135	10114933	STATE BANK OF INDIA	21/06/2008	-	03/11/2012	283100000.0	MID CORPORATE LOAN ADMINISTRATION UNITNO. 61,RESIDENCY PLAZA, RESIDENCY ROADBANGALOREKA560025IN
14	B62054887	10123548	STATE BANK OF INDIA	14/08/2008	-	03/11/2012	423100000.0	MIDCORPORATE LOAN ADMINISTRATION UNITNO. 61, RESIDENCY PLAZA, RESIDENCY ROADBANGALOREKA560025IN
15	B62054598	10346502	STATE BANK OF INDIA	17/03/2012	-	03/11/2012	133000000.0	SPECIALISED MID CORPORATE BRANCHNO. 97, RAILWAY PARALLEL ROAD, KUMARAPARK WESTBANGALOREKA560020IN

FUTURE PROSPECTS;

The company continues to ensure broad based growth with increased investments in the CE components business and for Cars parts so as to derisk from over dependence on the commercial vehicle industry. The Company has got new business for new products from existing customers, thus increasing their share of business per vehicle with the customer. The company is confident of making improved performance and achieving satisfactory growth in coming years.

FIXED ASSETS:

· Land

· Buildings

· Plant and equipment

· Vehicles

· Office equipment

· Computer equipment’s

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	INR
US Dollar	1	INR 67.77
UK Pound	1	INR 89.96
Euro	1	INR 78.86

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	PRS
Report Prepared by :	ARC

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.