MIRA INFORM REPORT

Report No. :	507159
Report Date :	04.05.2018

IDENTIFICATION DETAILS

Name :	BEKAERT INDUSTRIES PRIVATE LIMITED
Registered Office :	B-1, MIDC, Ranjangaon, Taluka Shirur, Pune – 412 209, Maharashtra
Tel. No.:	91-2138-612700
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	13.09.1996
Com. Reg. No.:	11-102569
Capital Investment / Paid-up Capital :	INR 4630.000 Million
CIN No.: [Company Identification No.]	U27104PN1996PTC102569
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	27AAACB8571E1ZP
TIN No:	27350410017
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in manufacture and sale of steel tyre cords and hose reinforcement wires. The Company is also trading in wire, hose re-enforcement wire and trading in Tyre cord. (Registered activity and also confirmed by management)
No. of Employees :	900 (Approximately)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Exists
Comments :	Subject is a wholly owned subsidiary of “NV Bekaert Sa” Belgium. The company was incorporated in the year 1996. It is a manufacturer and seller of steel tire cord and hose reinforcement wires. For the financial year 2017, the revenue of the company has increased by 3.75% along with average profit margin of 5.84%. The moderate financial profile of the company is marked by negative reserve base along with negligible debt level. However, rating takes into consideration equity infused by its promoters. The rating takes into consideration strong financial and managerial support that the company receives from its holding entity backed by its well experienced management tearm. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be consideration for business dealings with 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.

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 04.05.2018

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 PARTED BY

Name :	Mr. Amol Nagpure
Designation :	Finance Manager
Contact No.:	91-9011089079
Date :	03.05.2018

LOCATIONS

Registered Office / Factory :	B-1, MIDC Ranjangaon, Taluka Shirur, Pune – 412 209, Maharashtra, India
Tel. No.:	91-20-66276600/ 662716624
Mob. No:	91-9011089079 (Mr. Amol Nagpure)
Fax No.:	91-20-66276601
E-Mail :	ulkesh.shah@bekaert.com amolnagpure@bekaert.com
Website :	www.bekaert.com
Location :	Owned
Locality:	Commercial
Branch Address	Survey No.232/1+2, Plot No.127, Friends Co-Operative Housing Society, New Airport Road, Sakore Nagar, Lane No.:1, Behind IDBI Bank, Viman Nagar, Pune-411014, Maharashtra, India
Tel. No.:	91-20-66276600
Fax No.:	91-20-66276601

DIRECTORS

As on 31.03.2017

Name :	Mr. Roopak Karnik
Designation :	Managing Director
Address :	Plot No.2, Samrudhi Apartment Colony, Paud Road, Vanaz Police Station, Kothrud, Pune – 411032, Maharashtra, India
Date of Birth/Age :	11.08.1970
Date of Appointment :	01.06.2013
Qualification :	Company Seretary
PAN No.:	AFKPK1114L
DIN No.:	06598937
Name :	Lieven J A Larmuseau
Designation :	Casual Vacancy Director
Address :	Hoogland 10, 8550, Zwevegem, Belgium
Date of Birth/Age :	28.06.1962
Date of Appointment :	23.06.2009
DIN No.:	02669868
Name :	Stijn R J Vanneste
Designation :	Casual Vacancy Director
Address :	Duikerstraat 4, 8770 Ingelmunster, Belgium
Date of Birth/Age :	05.05.1972
Qualification :	Engineer
Date of Appointment :	07.04.2011
DIN No.:	03374527

KEY EXECUTIVES

Name :	Mr. Ulkesh Dilip Shah
Designation :	Secretary
Address :	A-103, Nirman Puram, Near Parshwa Nagar, Indrayani-Randive Road, Kondhwa, Budruk, Pune-411048, Maharashtra, India
Date of Birth/Age :	16.05.1984
Date of Appointment :	23.06.2013
PAN No.:	BDWPS4937E
Name :	Mr. Amol Nagpure
Designation :	Finance Manager

MAJOR SHAREHOLDERS

As on 31.03.2017

Names of Shareholders	No. of Shares
NA Bekaert SA, Belgium	462999980
Bekaert Coordinatiecentrum  NV, Belgium	20
TOTAL	463000000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoters (Bodies corporate)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacture and sale of steel tyre cords and hose reinforcement wires. The Company is also trading in wire, hose re-enforcement wire and trading in Tyre cord. (Registered activity and also confirmed by management)

Products :

Item Code No.	Product Description
73121030	Steel Wire and Wire Products made of steel and alloy steel
73121090	Steel wire and wire products

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Products :

Raw material

Countries :

• China
• Belgium

Terms :

Selling :

Cash, Advance Payment, L/C, Cheque and Credit (30/60/90 Days) (RTGS)

Purchasing :

Cash, Advance Payment, L/C, Cheque and Credit (30/60/90 Days) (RTGS)

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 :

End Users and Manufacturer

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

No. of Employees :

900 (Approximately)

Bankers :

Banker Name :	BNP Paribas Bank
Branch :	Unit No 5 and 6, Godrej Millennium Park, Ground Floor, 9, Koregaon Park Road, Vasani Nagar, Koregaon Park, Pune-411001, Maharashtra, 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 :	--

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	706,B Wing, 7^Th Floor, ICC Trade Tower, International Convention Centre, Senapati Bapat Road, Pune, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ABAPK4474D
Memberships :	--
Collaborators :	--
Holding company:	NV Bekeart SA, Belgium
Fellow Subsidiary companies:	Bekaert (China) Technology and Research and Development Company Limited Bekaert Corporation ORRVILLE, USA Bekaert Gmbh, Germany Bekaert Coordinatiecentrum N.V., Belgium China Bekaert Steel Cord Bekaert Advanced Filtration, Indonesia Bekaert Singapore Pte Limited Bekaert Combustion Solutions Private Limited Bekaert Binjiang Advance Product, China Bekaert Shandong Tyre Cord Bekaert Limited Bekaert Jiangyin Wire Products Bekaert Shenyang Advanced Products Bekaert Mukand Wire Industries Private Limited (U27104PN2007PTC130605) Groz-Beckert Carding India Private Limited (U99999PN1997PTC108867) Bekaert Poland Sp. Zo.o. Leon Bekaert S.p.A. Industrias del Ubierna, S.A. PT Bekaert Advance Filtration, Indonesia Bekaert (Huizhou) Steel Cord Co., Limited, China Cold Drawn Products Limited, United Kingdom P.T. Bekaert Indonesia Bekaert Wire, Belgium Bekaert Slovakia Sro, Slovakia Bekaert Management Shanghai Co., China\ Belgo Bekaert Arames Ltda, Brazil P.T. Bekaert Southern Wir, Indonesia Bekaert Shenyang Steel Cord Co. Limited, China Bekaert Corporation Rome, Italy Bekaert Shenyang Advanced, China Bekaert Southern Wire Sdn Bhd, Malaysia Bekaert Singapore Pte Limited, Singapore Bekaert Binjiang Steel Cord Co. Lt., China Bekaert Holding Bv, Netherlands Bekaert Combustion Technology Bv, Netherlands Bekaert Xinyu Metal Produ Bekaert Hlohovec A.S. Dpt Engineer

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
463000000	Equity Shares	INR 10/- each	INR 4630.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
463000000	Equity Shares	INR 10/- each	INR 4630.000 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4630.000	4280.000	4280.000
(b) Reserves and Surplus	(1563.624)	(1939.917)	(2143.295)
(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)	3066.376	2340.083	2136.705
(3) Non-Current Liabilities
(a) long-term borrowings	1616.848	855.010	1684.406
(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	68.840	45.046	51.254
Total Non-current Liabilities (3)	1685.688	900.056	1735.660
(4) Current Liabilities
(a) Short-term borrowings	2527.272	1998.293	1905.710
(b) Trade payables	1369.984	997.777	910.915
(c) Other current liabilities	393.024	1169.739	159.509
(d) Short-term provisions	27.528	14.274	14.922
Total Current Liabilities (4)	4317.808	4180.083	2991.056
TOTAL	9069.872	7420.222	6863.421
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3570.980	3379.260	3211.880
(ii) Intangible Assets	1.546	5.724	9.957
(iii) Tangible assets capital work-in-progress	599.001	279.526	128.447
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	326.665	10.527	52.634
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	161.508	132.617	125.126
(e) Other Non-current assets	3.953	3.009	0.524
Total Non-Current Assets	4663.653	3810.663	3528.568
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1827.752	1503.063	1412.407
(c) Trade receivables	1799.071	1660.249	1510.640
(d) Cash and bank balances	433.670	79.573	12.939
(e) Short-term loans and advances	327.903	349.029	369.685
(f) Other current assets	17.823	17.645	29.182
Total Current Assets	4406.219	3609.559	3334.853
TOTAL	9069.872	7420.222	6863.421

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	6845.632	6598.003	5710.518
	Other Income	8.552	7.758	22.587
	TOTAL	6854.184	6605.761	5733.105
Less	EXPENSES
	Cost of Materials Consumed	3333.417	3238.222	3071.798
	Purchases of Stock-in-Trade	429.231	639.898	566.540
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	12.422	(68.376)	(173.011)
	Employee benefit expense	612.218	436.151	423.674
	Other expenses	1521.969	1620.102	1603.873
	TOTAL	5909.257	5865.997	5492.874
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	944.927	739.764	240.231
Less	FINANCIAL EXPENSES	200.984	224.453	200.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	743.943	515.311	40.231
Less/ Add	DEPRECIATION/ AMORTISATION	343.662	311.933	548.091
	PROFIT/ (LOSS) BEFORE TAX	400.281	203.378	(507.860)
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	400.281	203.378	(507.860)
	Earnings / (Loss) Per Share (INR)	0.91	0.48	(1.19)

Particulars	31.03.2018
Sales Turnover (Approximately)	7000.000
	(Due to Business Growth)

The above information has been parted by Mr. Amol Nagpure (Finance Manager)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	0.000	996.447	0.000
Net cash flows from (used in) operations	19.846	647.427	(103.375)
Net cash flows from (used in) operating activities	12.242	649.634	(110.900)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days [Sundry Debtors / Income * 365]	95.92	91.84	96.56
Account Receivables Turnover [Income / Sunday Debtors]	3.81	3.97	3.78
Average Payment Days [Sundry Creditors / Purchases * 365]	132.90	93.91	91.38
Inventory Turnover [Operating Income / Inventories]	0.52	0.49	0.17
Asset Turnover [Operating Income / Net Fixed Assets]	0.23	0.20	0.07

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets]	0.65	0.81	0.68
Debt Equity Ratio (Borrowings / NetWorth)	1.35	1.65	1.68
Current Liabilities to Networth (Current Liabilities / NetWorth)	1.41	1.79	1.40
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth)	1.36	1.57	1.57
Interest Coverage Ratio [PBIT / Financial Charges]	4.70	3.30	1.20

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	(%)	5.85	3.08	(8.89)
Return on Total Assets [(PAT / Total Assets) * 100]	(%)	4.41	2.74	(7.40)
Return on Investment (ROI) [(PAT / NetWorth) * 100]	(%)	13.05	8.69	(23.77)

SOLVENCY RATIO

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio [Current Assets / Current Liabilities]	1.02	0.86	1.11
Quick Ratio [(Current Assets - Inventories) / Current Liabilities]	0.60	0.50	0.64
G-Score Ratio Financial [NetWorth / Total Assets]	0.34	0.32	0.31
G-Score Ratio Debt [Debts / Equity Capital]	0.90	0.90	0.84
G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]	1.02	0.86	1.11

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	4280.000	4280.000	4630.000
Reserves & Surplus	(2143.295)	(1939.917)	(1563.624)
Net worth	2136.705	2340.083	3066.376
Long-term borrowings	1684.406	855.009	1616.848
Short term borrowings	1905.710	1998.293	2527.272
Current maturities of long-term debts	0.000	996.447	0.000
Total borrowings	3590.116	3849.750	4144.120
Debt/Equity ratio	1.680	1.645	1.351

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	5710.518	6598.003	6845.632
		15.541	3.753

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	5710.518	6598.003	6845.632
Profit/ (Loss)	(507.860)	203.378	400.281
	(8.89 %)	3.08 %	5.85 %

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4630.000
(b) Reserves and Surplus	(1571.373)
(c) Money received against share warrants	0.000
(d) Minority interest	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	3058.627
(3) Non-Current Liabilities
(a) long-term borrowings	1616.848
(b) Deferred tax liabilities (Net)	0.000
(c) Other long-term liabilities	0.000
(d) long-term provisions	68.840
Total Non-current Liabilities (3)	1685.688
(4) Current Liabilities
(a) Short-term borrowings	3080.948
(b) Trade payables	1412.671
(c) Other current liabilities	413.737
(d) Short-term provisions	28.804
Total Current Liabilities (4)	4936.160
TOTAL	9680.475
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3989.325
(ii) Intangible Assets	1.546
(iii) Tangible assets capital work-in-progress	600.626
(iv) Intangible assets under development	59.887
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term loans and advances	235.554
(e) Other Non-current assets	3.954
Total Non-Current Assets	4890.892
(2) Current assets
(a) Current investments	0.000
(b) Inventories	1986.053
(c) Trade receivables	1934.078
(d) Cash and bank balances	440.046
(e) Short-term loans and advances	410.332
(f) Other current assets	19.074
Total Current Assets	4789.583
TOTAL	9680.475

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2017
	SALES
	Total Revenue from operations	6962.385
	Other Income	9.084
	TOTAL	6971.469
Less	EXPENSES
	Cost of Materials Consumed	3479.545
	Purchases of Stock-in-Trade	528.962
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(169.157)
	Employee benefit expense	628.000
	Other expenses	1564.177
	TOTAL	6031.527
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	939.942
Less	FINANCIAL EXPENSES	208.065
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	731.877
Less/ Add	DEPRECIATION/ AMORTISATION	354.465
	PROFIT/ (LOSS) BEFORE TAX	377.412
Less	TAX	0.000
	PROFIT/ (LOSS) AFTER TAX	377.412
	Earnings / (Loss) Per Share (INR)	0.82

LEGALS FILE

CIVIL COURT, VADODARA

Case Details

Case Type: RCS
Filing Number: 1190/2015Filing Date: 06-05-2015
Registration No.: 1190/2015Registration Date: 06-05-2015
CNR NO: GJVD02-001473-2015

Case Status

First Hearing Date: 06th May 2015
Next Hearing Date: 22nd March 2016
Stage of Case: SUMMONS - NOTICE
Court No. and Judge: 30-(AD-HOC) ADDL. CIVIL JUDGE & JMFC

Petitioner and Advocate

1) CIMA SHYAM SPRINGS PVT LTD Director Jaiminbhai Girish Patel
    Address - C0-OP. House, 3rd floor, Nr. Manisha Cross Road, Old Padra Road,,Vadodara
    Advocate- R A SINGH

Respondent and Advocate

1) Bekaert Industries Pvt. Ltd.
    Address - B-1, MIDC Rajan Gaon, Shirur,,Pune

2) Roopak Karnik M.D.
    B-1, MIDC Rajan Gaon, Shirur,,Pune

Acts

Under Act(s)	Under Section(s)
SPECIFIC RELIEF ACT, 1963	034,038
History of Case Hearing

Registration No.	Judge	Business On Date	Hearing Date	Purpose of hearing
1190/2015	(AD-HOC) ADDL. CIVIL JUDGE & JMFC	06-05-2015	24-06-2015	SUMMONS - NOTICE
1190/2015	(AD-HOC) ADDL. CIVIL JUDGE & JMFC	24-06-2015	06-08-2015	SUMMONS - NOTICE
1190/2015	(AD-HOC) ADDL. CIVIL JUDGE & JMFC	06-08-2015	24-09-2015	SUMMONS - NOTICE
1190/2015	(AD-HOC) ADDL. CIVIL JUDGE & JMFC	24-09-2015	22-01-2016	SUMMONS - NOTICE
1190/2015	(AD-HOC) ADDL. CIVIL JUDGE & JMFC	22-01-2016	24-02-2016	SUMMONS - NOTICE
1190/2015	(AD-HOC) ADDL. CIVIL JUDGE & JMFC	24-02-2016	22-03-2016	SUMMONS - NOTICE

Industrial Court, Pune

Case Details

Case Type: Application MRTU
Filing Number: 38/2018Filing Date: 24-01-2018
Registration Number: 1/2018Registration Date: 24-01-2018
CNR Number: MHIC12-002104-2015

Case Status

First Hearing Date: 25th January 2018
Next Hearing Date: 06th March 2018
Stage of Case: Notice
Court Number and Judge: 1-MEMBER, 1st INDUSTRIAL COURT, PUNE.

Petitioner and Advocate

1) Bekaert Employees Union

    Advocate- N. A. Kolhatkar
Respondent and Advocate

1) Bekaert Industries Pvt. Ltd.

Acts

Under Act(s)	Under Section(s)
Maharashtra Recognition of Trade Union And Prevention of Unfair Labour Practices Act, 1971	11

History of Case Hearing

Registration Number	Judge	Business On Date	Hearing Date	Purpose of hearing
1/2018	MEMBER, 1st INDUSTRIAL COURT, PUNE.	25-01-2018	27-02-2018	Hearing
1/2018	MEMBER, 1st INDUSTRIAL COURT, PUNE.	27-02-2018	06-03-2018	Notice

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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last two/ three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
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	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

CORPORATE INFORMATION

The Company incorporated in accordance with the laws of India. The Company is engaged in the business of manufacture and sale of steel tyre cords and hose reinforcement wires. The Company is also trading in wire, hose re-enforcement wire and trading in Tyre cord.

STANDALONE FINANCIAL STATEMENTS

The Company’s standalone revenue from operations for the current year is INR 6845.632 million against previous year’s revenue of INR 6598.003 million. The Profit after Tax (PAT) for the current year is INR 400.281 million and its accumulated losses as at the year end aggregated to INR 1563.624 million.

UNSECURED LOAN

PARTICULARS	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Foreign currency term loans from bank	1616.848	855.010
Short-term borrowings
Foreign currency term loans from	1538.167	1162.113
Loans repayable on demand from banks	989.105	836.180
Total	4144.120	2853.303

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

FIXED ASSETS

• Land
• Building
• Furniture and Fixture
• Computer
• Office equipment
• Plant and Machinery
• Vehicles
• Computer equipments
• 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	INR
US Dollar	1	INR 66.61
UK Pound	1	INR 90.60
Euro	1	INR 79.86

INFORMATION DETAILS

Information Gathered by :	TJL
Analysis Done by :	VRS
Report Prepared by :	MTN

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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.