MIRA INFORM REPORT

Report No. :	510338
Report Date :	19.05.2018

IDENTIFICATION DETAILS

Name :	MADURA INDUSTRIAL TEXTILES LIMITED
Registered Office :	1, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra
Tel. No.:	91-22-26730890
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	06.09.2010
Com. Reg. No.:	11-207473
Capital Investment / Paid-up Capital :	INR 100.000 Million
CIN No.: [Company Identification No.]	U17120MH2010PLC207473
IEC No.: [Import-Export Code No.]	0303023961
GSTN : [Goods & Service Tax Registration No.]	26AAGCM7939P1ZL
TAN No.: [Tax Deduction & Collection Account No.]	MUMM38978C
PAN No.: [Permanent Account No.]	AAGCM7939P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in Manufacturing Industrial fabrics for tires, conveyor belts, Nylon 6 Polymer and Nylon 6 Yarns and mechanical rubber goods. [Registered Activity]
No. of Employees :	Information denied by the management

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 2900000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Madura Industrial Textiles Limited (MITL) manufactures industrial fabrics for tires, conveyor belts and mechanical rubber goods. It also produces its own Nylon 6 Polymer and Nylon 6 Yarn to support its manufacturing process. The company was incorporated in the year 2010 and is based in Mumbai, Maharashtra. It is an established company having fine track record. For the financial year ended 2017, the company has witnessed a healthy growth in its revenue and has achieved good profit margin at 9.68% (approximately). The company possesses robust financial profile marked by strong networth base along with fair debt level and favorable gap between trade payables to its trade receivables. Rating also takes into consideration significant growth in the profitability level along with satisfactory earning per share of the company (i.e., earning per share of INR 55.57 against face value of INR 10). Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitments. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

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	CRISIL
Rating	Long Term Rating= BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	06.12.2017

Rating Agency Name	CRISIL
Rating	Short Term Rating= A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	06.12.2017

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 19.05.2018

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 DENIED

Management Non-Cooperative (91-22-26730890)

91-22-32168400 / 32168401 – Incorrect number

LOCATIONS

Registered / Head Office :	1, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-26730890 / 32168402 / 26730890 / 26730892
Fax No.:	91-22-26730889 / 66916245
E-Mail :	sanil@maduratex.com info@maduratex.com
Website :	www.maduratex.com
Area:	2000 Sq. Ft.
Location :	Owned
Locality :	Commercial
Factory :	Plot No.60/1 and 60/2, Demni Village, Near UCPL, Dadra – 396193, Dadra and Nagar Haveli, India
Tel. No.:	91-260-2669005 / 2669006 / 3494446
E-Mail :	info@maduratex.com
Website :	www.maduratex.com

DIRECTORS

AS ON 31.03.2018

Name :

Mr. Rishi Raman Kalra

Designation :

Managing Director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

14.06.1983

Date of Appointment :

05.02.2011

PAN No.:

AIWPK0548D

DIN No.:

00122132

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	02/12/2002	-
U23109MH2017PLC302582	MADURA CARBON INDIA LIMITED	07/12/2017	-
U17309MH2018PLC304022	MADURA TECHNICAL POLYESTERS LIMITED	11/01/2018	-

Name :

Mr. Gautam Vipan Kalra

Designation :

Managing director

Address :

21, Royal Accord III, Lokhandwala, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

09.07.1982

Date of Appointment :

05.02.2011

PAN No.:

ANBPK2995A

DIN No.:

03052859

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U23109MH2017PLC302582	MADURA CARBON INDIA LIMITED	07/12/2017	-
U17309MH2018PLC304022	MADURA TECHNICAL POLYESTERS LIMITED	11/01/2018	-

Name :

Mr. Anil Radheshyam Kalra

Designation :

Whole-Time Director

Address :

12, Royal Accord, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

30.09.1959

Date of Appointment :

05.02.2011

PAN No.:

AABPK9375R

DIN No.:

00119633

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	08/05/2013	-
U74999MH1990PTC056187	MITKORD STEEL PRIVATE LIMITED	07/10/2008	-
U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	01/03/2015	-
U23109MH2017PLC302582	MADURA CARBON INDIA LIMITED	07/12/2017	-
U17309MH2018PLC304022	MADURA TECHNICAL POLYESTERS LIMITED	11/01/2018	-

Name :

Mr. Sanil Radheshyam Kalra

Designation :

Director

Address :

11, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

18.06.1962

Date of Appointment :

04.02.2016

PAN No.:

AACPK8369A

DIN No.:

00119674

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	29/08/1992	-
U74999MH1990PTC056187	MITKORD STEEL PRIVATE LIMITED	07/10/2008	-
U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	08/05/2013	-
U23109MH2017PLC302582	MADURA CARBON INDIA LIMITED	07/12/2017	-
U17309MH2018PLC304022	MADURA TECHNICAL POLYESTERS LIMITED	11/01/2018	-

Name :

Mrs. Promilla Raman Kalra

Designation :

Whole-time director/ Executive Director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

03.06.1956

Date of Appointment :

01.03.2015

PAN No.:

AACPK8364P

DIN No.:

00119711

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	01/06/2002	-

Name :

Mr. Vipan Ramnath Kalra

Designation :

Whole-time director

Address :

21, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

10.10.1953

Date of Appointment :

05.02.2011

PAN No.:

AABPK9377P

DIN No.:

00122168

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	29/08/1992	-
U74999MH1990PTC056187	MITKORD STEEL PRIVATE LIMITED	07/10/2008	-
U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	01/03/2015	-
U23109MH2017PLC302582	MADURA CARBON INDIA LIMITED	07/12/2017	-
U17309MH2018PLC304022	MADURA TECHNICAL POLYESTERS LIMITED	11/01/2018	-

Name :

Mr. Varun Anil Kalra

Designation :

Whole-time director

Address :

12, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

04.01.1985

Date of Appointment :

05.02.2011

PAN No.:

AMHPK0056B

DIN No.:

03052960

Name :

Mr. Jitesh Sanil Kalra

Designation :

Director

Address :

11, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

27.04.1989

Date of Appointment :

19.12.2011

PAN No.:

BMKPK3025J

DIN No.:

03421617

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	02/04/2018	-

Name :

Ms. Richa Vipan Kalra

Designation :

Director

Address :

21, Royal Accord III, Lokhandwala, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

24.10.1987

PAN No.:

BHIPK0592B

Date of Appointment :

19.12.2011

DIN No.:

03421618

Name :

Mr. Raghav Raman Kalra

Designation :

Director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

20.04.1989

Date of Appointment :

01.10.2014

PAN No.:

BPYPK8466C

DIN No.:

03421621

Name :

Mr. Tarun Anil Kalra

Designation :

Director

Address :

12, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

17.08.1991

Date of Appointment :

04.02.2016

PAN No.:

BPYPK8464A

DIN No.:

06607384

Name :

Mr. Sahil Sanil Kalra

Designation :

Whole-time director

Address :

11, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

25.01.1993

PAN No.:

CEPPK7452H

Date of Appointment :

01.10.2014

DIN No.:

06814372

Name :

Mr. Bhushan Jugalkishore Khanna

Designation :

Director

Address :

504/505, B Wing, Kamlkar Sadan, Sree Swami Samarth Nagar, Lokhandwala, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Appointment :

30.09.2015

DIN No.:

07123893

Name :

Mr. Vikram Khosla

Designation :

Director

Address :

1501 A Wing, Rushi Tower, Lokhandwal Complex, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Appointment :

30.09.2015

DIN No.:

07124479

KEY EXECUTIVES

Name :	Mr. Joel Arulraj Chettiar
Designation :	Company Secretary
Address :	B-Wing, Room No 12, Madhav Building, Opposite Oshiwara Bus Depo Goregaon (West), Mumbai – 400104, Maharashtra, India
Date of Appointment :	26.05.2017
PAN No.:	ASRPC5321P
Name :	Mr. Anil Radheshyam Kalra
Designation :	Chief Finance Officer
Address :	12, Royal Accorod, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Appointment :	16.03.2015
PAN No.:	AABPK9375R
Name :	Mr. Ashok
Designation :	Senior Accountant

MAJOR SHAREHOLDERS

AS ON 31.03.2016

Names of Shareholders	No. of Shares
Vipan Ramnath Kalra	1250000
Anil Radheshyam Kalra	750000
Sanil Radheshyan Kalra	1250000
Promilla Raman Kalra	750000
Rishi Raman Kalra	1000000
Gautam Vipan Kalra	1250000
Varun Anil Kalra	1000000
Jitesh Sanil Karla	625000
Raghav Raman Karla	750000
Tarun Anil Kalra	750000
Sahil Sanil Kalra	625000
Total	10000000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2016

Category	Percentage
Promoters [Individual/Hindu Undivided Family (Indian)]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Manufacturing Industrial fabrics for tires, conveyor belts, Nylon 6 Polymer and Nylon 6 Yarns and mechanical rubber goods. [Registered Activity]

Products / Services :

Name and Description of main products / services	ITC Code
Tires, conveyor belts, Nylon 6 Polymer and Nylon 6 Yarns	84282011

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 :

Information denied by the management

Bankers :

Banker Name :	Saraswat Cooperative Bank Limited
Branch :	SME Vile Parle Branch, Bholanath Co-operative Housing Society, Subhash Road, Vile Parle East, Mumbai – 4000057, 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 :	--

Facilities :

SECURED LOANS	31.03.2017 INR In Million	31.03.2016 INR In Million
LONG TERM BORROWINGS
Other loans and advances	836.809	0.000
Rupee term loans from banks	0.000	995.346
SHORT TERM BORROWINGS
Working capital loans from banks	0.000	1694.895
Rupee term loans from banks	675.849	0.000
Total	1512.658	2690.241

Auditors :
Name :	J and K Agarwal and Company Chartered Accountants
Address :	801, Kamla Hub, North South, Road No-1, J.V.P.D. Scheme, Juhu, Vile Parle (West), Mumbai – 400049, Maharashtra, India
PAN No.:	AAAFJ1781F
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 :	· Ravasco Transmission and Packing Private Limited, India · Hindustan Rubbers Industries Private Limited, India · Hindustan Rubbers (Silvassa)

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	INR 10/- each	INR 100.000 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	922.726	366.979	281.290
(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)	1022.726	466.979	381.290
(3) Non-Current Liabilities
(a) Long-term borrowings	836.809	995.346	854.542
(b) Deferred tax liabilities (Net)	275.342	240.619	196.356
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1112.151	1235.965	1050.898
(4) Current Liabilities
(a) Short term borrowings	1592.347	1694.895	1740.064
(b) Trade payables	1073.992	895.635	581.265
(c) Other current liabilities	297.406	290.961	257.122
(d) Short-term provisions	23.239	14.278	0.000
Total Current Liabilities (4)	2986.984	2895.769	2578.451
TOTAL	5121.861	4598.713	4010.639
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2547.387	2252.580	2192.156
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	379.348	25.104
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.528	1.528	1.528
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	445.138	92.443	68.603
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2994.053	2725.899	2287.391
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	682.460	599.218	632.679
(c) Trade receivables	1104.410	947.132	667.652
(d) Cash and cash equivalents	273.568	129.178	102.280
(e) Short-term loans and advances	63.375	180.500	266.326
(f) Other current assets	3.995	16.786	54.311
Total Current Assets	2127.808	1872.814	1723.248
TOTAL	5121.861	4598.713	4010.639

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	5744.027	4227.502	3263.431
	Other Income	21.914	18.490	64.643
	TOTAL	5765.941	4245.992	3328.074
Less	EXPENSES
	Cost of Materials Consumed	3431.897	2539.616	2060.711
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(43.225)	159.511	(25.706)
	Employees benefits expense	274.009	198.747	161.370
	Other expenses	0.871	774.415	626.634
	CSR expenditure	946.723	1.725	0.000
	TOTAL	4610.275	3674.014	2823.009
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1155.666	571.978	505.065
Less	FINANCIAL EXPENSES	352.006	318.670	289.918
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	803.660	253.308	215.147
Less	DEPRECIATION/ AMORTISATION	185.268	121.069	109.247
	PROFIT/ (LOSS) BEFORE TAX	618.392	132.239	105.900
Less	TAX	62.645	46.549	51.834
	PROFIT/ (LOSS) AFTER TAX	555.747	85.690	54.066
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	366.980	281.290	228.047
Add	Adjustment relating to Fixed Assets	0.000	0.000	(0.823)
	Balance Carried to the B/S	922.727	366.980	281.290
	Earnings / (Loss) Per Share (INR)	55.57	8.57	5.41

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	0.000	178.295
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	973.002	755.407	25.049
Net cash flows from (used in) operating activities	847.960	745.115	1.795

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	70.18	81.77	74.67
Account Receivables Turnover (Income / Sundry Debtors)	5.20	4.46	4.89
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	114.22	128.72	102.96
Inventory Turnover (Operating Income / Inventories)	1.69	0.95	0.80
Asset Turnover (Operating Income / Net Fixed Assets)	0.45	0.22	0.23

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.75	0.85	0.90
Debt Equity Ratio (Total Liability / Networth)	2.38	5.76	7.27
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.92	6.20	6.76
Fixed Assets to Networth (Net Fixed Assets / Networth)	2.49	5.64	5.82
Interest Coverage Ratio (PBIT / Financial Charges)	3.28	1.79	1.74

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
PAT to Sales ((PAT / Sales) * 100)	%	9.68	2.03	1.66
Return on Total Assets ((PAT / Total Assets) * 100)	%	10.85	1.86	1.35
Return on Investment (ROI) ((PAT / Networth) * 100)	%	54.34	18.35	14.18

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.71	0.65	0.67
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.48	0.44	0.42
G-Score Ratio Financial (Networth / Total Assets)	0.20	0.10	0.10
G-Score Ratio Debt (Debts / Equity Capital)	24.29	26.90	27.73
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.71	0.65	0.67

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	281.290	366.979	922.726
	0.000	0.000	0.000
Net worth	381.290	466.979	1022.726
Long-term borrowings	854.542	995.346	836.809
Short term borrowings	1740.064	1694.895	1592.347
Current maturities of long-term debts	178.295	0.000	0.000
Total borrowings	2772.901	2690.241	2429.156
Debt/Equity ratio	7.272	5.761	2.375

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	3263.431	4227.502	5744.027
		29.542	35.873

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	3263.431	4227.502	5744.027
Profit/ (Loss)	54.066	85.690	555.747
	1.66%	2.03%	9.68%

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	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

DESCRIPTION OF STATE OF COMPANIES AFFAIR

The Company is engaged in the business offering industrial fabrics for tires, conveyor belts, Nylon 6 Polymer and Nylon 6 Yarns and mechanical rubber goods. The highlights of the Company's performance are as under: - The total turnover of the Company during the year stood at INR 5765.941 million with Profit after Tax amounting to INR 555.746 million as compared to Turnover of INR 4245.992 million with Profit after Tax amounting to INR 85.690 million of previous year.

UNSECURED LOANS:

PARTICULARS	31.03.2017 INR In Million	31.03.2016 INR In Million
SHORT TERM BORROWINGS
Other loans and advances	916.498	0.000
Total	916.498	0.000

INDEX OF CHARGES:

S No	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G81240871	100164660	THE SARASWAT COOPERATIVE BANK LTD	28/02/2018	-	-	344000000.0	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN
2	G76181130	100152924	THE SARASWAT COOPERATIVE BANK LTD	09/01/2018	-	-	46800000.0	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN
3	G69520633	100138780	SVC CO-OPERATIVE BANK LTD.	27/11/2017	-	-	324300000.0	7 SARKAR CORNER J P ROADNEAR ANDHERI SPORTS COMPLEX,ANDHERI WESTMH400058IN
4	G54174198	100124251	SVC CO-OPERATIVE BANK LTD.	15/09/2017	-	-	200000000.0	7 SARKAR CORNER J P ROADNEAR ANDHERI SPORTS COMPLEX, ANDHERI WESTMUMBAIMH400058IN
5	G57540056	100128779	THE SARASWAT COOPERATIVE BANK LTD	08/09/2017	-	-	5850000.0	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN
6	G57540247	100128780	THE SARASWAT COOPERATIVE BANK LTD	08/09/2017	-	-	9898000.0	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN
7	G52554870	100120886	BREMER KREDITBANK AKTIENGESELLSCHAFT	25/08/2017	-	-	333833000.0	WACHTSTRASSE 16BREMEN
8	G49926769	100114668	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	17/07/2017	-	-	144000000.0	RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN
9	G50573609	100116737	HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED	06/07/2017	-	-	144000000.0	RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMA400020IN
10	G45719317	100102490	THE SARASWAT COOPERATIVE BANK LTD	26/05/2017	-	-	31500000.0	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN

FIXED ASSETS:

Tangible assets

· Land

· Building

· Plant and equipment

· Furniture and Fixture

· Vehicles

· Office equipment

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 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.28

INFORMATION DETAILS

Information Gathered by :	AKS
Analysis Done by :	DIV
Report Prepared by :	NKT

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.