Okaya Power Limited

OKAYA POWER LIMITED - 77548 14-MAY-2009 PAGE NO.
: 1
BUSINESS INFORMATION REPORT
1. Summary Information
Company Name OKAYA POWER LIMITED Principal Name 1
MR. ANIL GUPTA
Status SATISFACTORY Principal Name 2
MR. OM PRAKASH
GUPTA
Street Address D – 7, UDYOG NAGAR, ROHTAK ROAD, NEW DELHI – 110 041
Established Date 29.07.1987 SIC Code --
Telephone# 91-11-25486991 – 5/ Business Style 1 MANUFACTURER
45112345
Fax # 91-11-45112390/ 42733388 Business Style 2 -
Homepage www.okayapower.com Product Name 1 BATTERIES
# of employees ABOUT 400 Product Name 2 -
Paid up capital Rs.24,622,000/- Product Name 3 -
Shareholders DIRECTORS OR Banking STATE BANK OF
RELATIVES OF BIKANER AND JAIPUR
DIRECTORS – 100%
Public Limited Corp. - Business Period 22 YEARS
IPO - International Ins. -
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Ba (49)
Related Company
Relation Country Company Name CEO
ASSOCIATES INDIA OKAYA INFOCOM -
PRIVATE LIMITED
Note -
2. Summary Financial Statement
Balance Sheet as of 31.03.2008 (Unit: Indian Rs.)

Assets Liabilities
Current Assets 210,845,000 Current Liabilities 202,264,000
Inventories 114,170,000 Long-term Liabilities 76,121,000
Fixed Assets 87,562,000 Other Liabilities 7,300,000
Deferred Assets 0.000 Total Liabilities 285,685,000
Invest& other Assets 27,145,000 Retained Earnings 55,315,000

Net Worth 154,037,000
Total Assets 439,722,000 Total Liab. & Equity 439,722,000
Total Assets 487,084,000
(Previous Year)
P/L Statement as of 31.03.2008 (Unit: Indian Rs.)
Sales 823,777000 Net Profit 2,917,000
Sales(Previous yr) 733,130,000 Net Profit(Prev.yr) 12,724,000
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OKAYA POWER LIMITED - 77548 14-MAY-2009 PAGE NO. : 2
MIRA INFORM REPORT
Report Date : 14.05.2009
IDENTIFICATION DETAILS
Name : OKAYA POWER LIMITED
Formerly Known As : EXTEL SYSTEMS PRIVATE LIMITED

ARROW INTERNATIONAL PRIVATE LIMITED
Registered Office : D – 7, Udyog Nagar, Rohtak Road, New Delhi – 110 041
Country : India
Financials (as on) : 31.03.2008
Date of Incorporation : 29.07.1987

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Com. Reg. No.: 55-28737
CIN No.: U74899DL1987PLC028737

[Company Identification No.]
TAN No.: DELA12132B

[Tax Deduction & Collection
Account No.]
PAN No.: AADCA7106P

[Permanent Account No.]
Legal Form : A Closely Held Public Limited Liability Company
Line of Business : Manufacturer of Batteries.
RATING & COMMENTS
MIRA’s Rating : Ba (49)
RATING STATUS PROPOSED

CREDIT LINE
41-55 Ba Overall operation is considered normal. Capable to meet normal Satisfactory
commitments.
Maximum Credit Limit : USD 770000
Status : Satisfactory
Payment Behaviour : Slow
Litigation : Clear
Comments : Subject is a well established and reputed company having satisfactory track.
Trade relations are fair. General financial position is satisfactory. Payments are
usually correct and as per commitments.
The company can be considered normal for business dealings at usual trade
terms and conditions.
NOTES :
Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number,
name and date.
LOCATIONS
Registered/ Corporate D – 7, Udyog Nagar, Rohtak Road, New Delhi – 110 041, India
Office/ Factory :
Tel. No.: 91-11-25486991 – 5/ 45112345
Fax No.: 91-11-45112390/ 42733388
E-Mail : india@okayapower.com
Website : www.okayapower.com
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Center :
• Andhra Pradesh
• Assam
• Bihar
• Chhattisgarh
• Gujarat
• Haryana
• Jammu and Kashmir
• Jharkhand
• Karnataka
• Kerala
• Madhya Pradesh
• Maharastra
• Orissa
• Punjab
• Rajasthan
• Tamilnadu
• Uttar Pradesh Uttarakhand
• West Bengal
DIRECTORS
Name : Mr. Anil Gupta

Designation : Director
Address : House No.6, Road No.3, East Punjabi Bagh, New Delhi – 110 026, India
Date of Birth/Age : 20.11.1962
Date of Appointment : 31.07.1995
Name : Mr. Om Prakash Gupta

Name : Mr. Rajesh Gupta

Name : Mr. Subodh Gupta

KEY EXECUTIVES
Name : Mr. Krishna N. Sharma

Designation : Company Secretary
Address :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2008
Names of Shareholders No. of Shares
Om Prakash Gupta 3000

Anil Gupta 39060
Rajesh Gupta 48450
Bimladevi Gupta 3000
Poonam Gupta 19000
Saroj Gupta 53000
Arush Gupta 33000
Subodh Gupta 33000
Rekha Aggarwal 810
Anita Gupta 13900
Total 246220
As on 29.09.2008
Equity Share Breakup Percentage of

Holding
Category
Directors or relatives of directors 100.00
BUSINESS DETAILS
Line of Business : Manufacturer of Batteries.
Products : • Inverter Batteries

• VRLA Batteries
• 2 Volts Cells
• Solar Batteries
• Other Batteries Range
Item Code No. (ITC Code) 85072000

Product Description Batteries
GENERAL INFORMATION
Customers : • NIC
CECRI
• ONGC
• Solar Energy Centre
• MTNL
•
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• Bank of India
• Indian Oil
• BHEL
• NTPC
• SHARP
• Central Bank of India RITES
• CEL
No. of Employees : About 400
Bankers : State Bank of Bikaner and Jaipur, Lawrence Road, New Delhi – 110 035, India
Facilities : Secured Loans :
As on 31.03.2008
Rs. in Millions
Cash Credit Limit from State Bank of Bikaner and 17.669
Jaipur
(Borrowing from State Bank of Bikaner and Jaipur is
secured by Hypothecation all present and future
goods, book debts and all other moveable assets of
the borrower including documents of title to the goods,
outstanding, monies, receivables by way of cash
incentives/ cash assistance under the cash incentive
scheme or any other scheme, claims including claims
by way of refund of excise/ custom duties under he
duty draw back credit scheme or any other scheme,
bills, invoices, investments and right and the present
machinery)
Total 17.669
Unsecured Loans :
As on 31.03.2008
Rs. in Millions
Car Loan from ICICI Bank 0.628
Loan from Shareholders and Relatives 57.682
Loans from Company (Vikas Profit Limited) 0.142
Total 58.452
Banking Relations : --
Auditors :
Name : Brijendra and Company
Chartered Accountants
Address : 76, Daryaganj, New Delhi – 110 002, India
Associates : • Kenzo International

• Global Industries
• Okaya Infocom Private Limited
• S.G. International
• Arush Industries
• A.G. Peripherals
• Jain Wool Company
• Geon International
• Max Power Infosystem
• Microtek International Private Limited
• Okaya Energy Systems Private Limited
• Microtek Infocom Limited
• Sandeep Gupta Family Trust
Group Company : • Okaya Infocom Private Limited

• Microtek International Private Limited
• Okaya Energy System Private Limited
CAPITAL STRUCTURE
Authorised Capital :
No. of Shares Type Value Amount
266000 Equity Shares Rs.100/- each Rs.26.600 millions
Issued, Subscribed & Paid-up Capital :

No. of Shares Type Value Amount
*246220 Equity Shares Rs.100/- each Rs.24.622 millions
* includes 40160 Equity Shares issued at Premium of Rs.1140/- per share.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
SOURCES OF FUNDS 31.03.2008 31.03.2007 31.03.2006
SHAREHOLDERS FUNDS
1] Share Capital 24.622 20.606 20.606
2] Share Application Money 74.100 49.700 0.000
3] Reserves & Surplus 55.315 6.615 0.000
4] (Accumulated Losses) 0.000 0.000 (3.759)
NETWORTH 154.037 76.921 16.847
LOAN FUNDS
1] Secured Loans 17.669 2.703 9.288
2] Unsecured Loans 58.452 160.451 72.211
TOTAL BORROWING 76.121 163.154 81.499
DEFERRED TAX LIABILITIES 0.006 0.000 0.000
TOTAL 230.164 240.075 98.346
APPLICATION OF FUNDS
FIXED ASSETS [Net Block] 87.562 51.124 24.610

Capital work-in-progress 25.551 0.789 0.000
INVESTMENT 1.594 1.430 3.079
DEFERREX TAX ASSETS 0.000 0.012 1.348
CURRENT ASSETS, LOANS & ADVANCES

Inventories 114.170 219.989 70.232
Sundry Debtors 165.127 196.649 49.717
Cash & Bank Balances 4.350 0.999 2.452
Other Current Assets 0.000 0.000 0.000
Loans & Advances 41.368 16.092 18.928
Total Current Assets 325.015 433.729 141.329
Less : CURRENT LIABILITIES & PROVISIONS
Current Liabilities 202.264 241.354 72.020
Provisions 7.294 5.655 0.000
Total Current Liabilities 209.558 247.009 72.020
Net Current Assets 115.457 186.720 69.309
MISCELLANEOUS EXPENSES 0.000 0.000 0.000
TOTAL 230.164 240.075 98.346
PROFIT & LOSS ACCOUNT
PARTICULARS 31.03.2008 31.03.2007
Sales Turnover 823.777 733.130

Other Income 0.918 11.266
Total Income 824.695 744.396
Profit/(Loss) Before Tax 6.256 17.715

Provision for Taxation 3.339 4.991
Profit/(Loss) After Tax 2.917 12.724
Export Value 0.290 0.000
Import Value 106.398 102.527
Expenditures :
Cost of Goods Sold 700.284 607.898
Other Expenditure 106.965 111.635
Interest 8.070 5.304
Depreciation & Amortization 3.120 1.844
Total Expenditure 818.439 726.681
Earnings Per Share (Rs.) 11.85 NA
KEY RATIOS
PARTICULARS 31.03.2008 31.03.2007 31.03.2006
PAT / Total Income (%) 0.35 1.71 NA
Net Profit Margin (%) 0.76 2.42 NA

(PBT/Sales)
Return on Total Assets (%) 1.42 3.64 NA

(PBT/Total Assets}
Return on Investment (ROI) 0.04 0.23 NA

(PBT/Networth)
Debt Equity Ratio 1.85 5.33 9.11

(Total Liability/Networth)
Current Ratio 1.55 1.76 1.96

(Current Asset/Current Liability)
LOCAL AGENCY FURTHER INFORMATION
Name of the company ARROW INTERNATIONAL PRIVATE LIMITED

Presented By Company and State Bank of Bikaner and Jaipur
1) Date and description of instrument creating the Hypothecation agreement for goods and assets dated
change 04.01.2006.
2) Amount secured by the charge/amount owing on the Rs.40.000 millions
securities of charge
3) Short particular of the property charged. If the All present and future goods, book debts and all other
property acquired is subject to charge, date of the movable assets of the borrower including documents of
acquired of the property should be given title to the goods, outstanding, monies, receivables by
way of cash incentives / cash assistance under the
cash incentive scheme or any other scheme, claims
including claims by way of refund of excise/ custom
duties under the duty draw back credit scheme or any
other scheme, bills, invoices, investments and right and
the present machinery listed in the schedule hereunto
and all future machinery belonging to or in the

possession or under the control of the Borrower or of
the Bank or of any third party whether in India or
wherever else throughout the world (including all such
goods, other movable assets as may be in course of
shipment transit or delivery) (hereafter referred to as
“the said goods and assets”) shall stand hypothecated
to the Bank by way of first charge.
4) Gist of the terms and conditions and extent and The above to secure the following credit facilities:
operation of the charge. Cash Credit – Rs.20.000 millions
Letter of Credit – Rs.20.000 millions
5) Name and Address and description of the person State Bank of Bikaner and Jaipur, Lawrence Road,
entitled to the charge. New Delhi
6) Date and brief description of instrument modifying N.A.
the charge
7) Particulars of modifications specifying the terms and N.A.
conditions or the extent of operations of the charge in
which modification is made and the details of the
modification.
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Charge identification number of the modified 80039469
Corporate identity number of the company U74899DL1987PTC028737
Name of the company ARROW INTERNATIONAL PRIVATE LIMITED
Address of the registered office or of the principal D – 7, Udyog Nagar, Rohtak Road, New Delhi – 110
place of business in India of the company 041, India
Type of charge Book Debts
Movable Property
Others (1st and exclusive charge on current and fixed
assets)
Particular of charge holder State Bank of Bikaner and Jaipur, Lawrence Road, New
Delhi – 110 035, India
E-Mail: gkjain1234@rediffmail.com
Nature of description of the instrument creating or Supplemental Hypothecation Agreement for Goods and
modifying the charge Assets.
Date of instrument Creating the charge 24.08.2007
Amount secured by the charge Rs.80.000 millions
Brief particulars of the principal terms an conditions Rate of Interest: Rate of interest @ BPLR i.e. 12.50%
and extent and operation of the charge p.a.
Terms of Repayment: Payable on demand
Margin: Stocks – 25%

Book debts – 100%
Extent and Operation of the charge: Extent and

operation – 100%
Others: The above is to secure the following credit

facilities:
Cash Credit (Hypothecation) – Rs.45.000 millions
Letter of Credit – Rs.35.000 millions
Total = Rs.80.000 millions
Short particulars of the property charged All present and future goods, book debts and all other
movable assets of the borrower including documents of
title to the goods, outstanding, monies, receivables by
way of cash incentives/ cash assistance under the cash
incentive scheme or any other scheme, claims including
claims by way of refund of excise/ custom duties under
he duty draw back credit scheme or any other scheme,
bills, invoices, investments and right and the present
machinery listed in the schedule hereunto.
FIXED ASSETS:
• Land – Freehold
• Land – Leasehold
• Furniture
• Office Equipments
• Plant and Machinery
• Water Cooler
• Computer
• Vehicle
WEBSITE DETAILS:
Company Profile
The Revolution that’s changing the Indian Battery landscape began in the year 2002. Today, OKAYA is the
second largest Inverter and UPS battery company in India; providing fresh, viable and lasting alternative to
Battery Industry, starved by long monopoly of one brand.
Okaya plants, besides having Japanese Technology, are equipped with most advanced machines imported from
various countries around the globe such as TBS, WIRTZ, MAC, TEKMAX, HADI, SOVEMA, FARMER, BITRODE,
CONBRO, OXMASTER.
Okaya is the fastest growing Battery brand in India with an installation base of more than 5 million batteries and a
nationwide network of more than 32000 Dealers and 470 Distributors, 27 Branch Offices and 210 Customer Care
centers and 7 Plants all across India.
Group Companies
OKAYA diversified into Global IT services by branching into:
Okaya Infocom Private Limited to deliver best in class Process Consulting, Software Solutions and Business
Support with continued focus on customer satisfaction and reliable service.
Okaya Infocom has its head office in Noida and branch office in New York, USA.
Another company which is coming up in a big way is Okaya Energy System Private Limited for Non conventional
energy sources, which is another big booming industry of the future. Plants under construction in Rajasthan and
Haryana.
Microtek International Private Limited is one of the Largest Power Products manufacturer having products like
Line Interactive UPS, ONLINE UPS, and DIGITAL and SINEWAVE INVERTERS/UPS. Having eight
manufacturing plants, each specializing in different spheres of the industry, has made it possible for Microtek to
harness the World's latest technology, perfect it and incorporate it in its product range, for the user's benefit. Its
head office in New Delhi and Plants in Himachal Pradesh and Haryana.
The Action Group is one of the India's leading business conglomerates. The group commenced its operations as
a source of footwear and its components in domestic and export markets, gradually moving its core competence
into other diversified fields such as: (API) Chemicals and Plasticizers, (MICROTEK) Computer Monitors and
Peripherals, Power Back Up/Inverters, (OKAYA) Batteries, (SUN CITY) Housing Projects and (SRI BALAJI
ACTION MEDICAL INSTITUTE) Health Care.
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 Indian Rupees

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UK Pound 1 Rs.75.46
Euro 1 Rs.67.53
SCORE & RATING EXPLANATIONS
SCORE FACTORS RANGE POINTS
HISTORY 1~10 6
PAID-UP CAPITAL 1~10 5
OPERATING SCALE 1~10 5
FINANCIAL CONDITION
--BUSINESS SCALE 1~10 6
--PROFITABILIRY 1~10 5
--LIQUIDITY 1~10 5
--LEVERAGE 1~10 5
--RESERVES 1~10 6
--CREDIT LINES 1~10 6
--MARGINS -5~5 -
DEMERIT POINTS
--BANK CHARGES YES/NO YES
--LITIGATION YES/NO NO
--OTHER ADVERSE INFORMATION YES/NO NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP
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--EXPORT ACTIVITIES YES/NO NO
--AFFILIATION YES/NO YES
--LISTED YES/NO NO
--OTHER MERIT FACTORS YES/NO YES
TOTAL 49
This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)
RATING EXPLANATIONS
RATING STATUS PROPOSED

CREDIT LINE
>86 Aaa Possesses an extremely sound financial base with the strongest Unlimited
capability for timely payment of interest and principal sums
71-85 Aa Possesses adequate working capital. No caution needed for credit Large
transaction. It has above average (strong) capability for payment of
interest and principal sums
56-70 A Financial & operational base are regarded healthy. General unfavourable Fairly Large
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums
41-55 Ba Overall operation is considered normal. Capable to meet normal Satisfactory
commitments.
26-40 B Unfavourable & favourable factors carry similar weight in credit Small
consideration. Capability to overcome financial difficulties seems
comparatively below average.
11-25 Ca Adverse factors are apparent. Repayment of interest and principal sums Limited with full
in default or expected to be in default upon maturity security
<10 C Absolute credit risk exists. Caution needed to be exercised Credit not
recommended
NR In view of the lack of information, we have no basis upon which to No Rating
recommend credit dealings

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OKAYA POWER LIMITED - 77548 14-MAY-2009 PAGE NO.

BUSINESS INFORMATION REPORT

2. Summary Financial Statement

Balance Sheet as of 31.03.2008 (Unit: Indian Rs.)

Invest& other Assets 27,145,000 Retained Earnings 55,315,000

MIRA INFORM REPORT

Report Date : 14.05.2009

Name : OKAYA POWER LIMITED

Formerly Known As : EXTEL SYSTEMS PRIVATE LIMITED

Financials (as on) : 31.03.2008

Date of Incorporation : 29.07.1987

CIN No.: U74899DL1987PLC028737

TAN No.: DELA12132B

PAN No.: AADCA7106P

Legal Form : A Closely Held Public Limited Liability Company

Line of Business : Manufacturer of Batteries.

RATING & COMMENTS

MIRA’s Rating : Ba (49)

RATING STATUS PROPOSED

Maximum Credit Limit : USD 770000

Payment Behaviour : Slow

Name : Mr. Anil Gupta

Name : Mr. Om Prakash Gupta

Name : Mr. Rajesh Gupta

Name : Mr. Subodh Gupta

Name : Mr. Krishna N. Sharma

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders No. of Shares

Om Prakash Gupta 3000

Equity Share Breakup Percentage of

Line of Business : Manufacturer of Batteries.

Products : • Inverter Batteries

Item Code No. (ITC Code) 85072000

No. of Employees : About 400

Facilities : Secured Loans :

Associates : • Kenzo International

Group Company : • Okaya Infocom Private Limited

Issued, Subscribed & Paid-up Capital :

* includes 40160 Equity Shares issued at Premium of Rs.1140/- per share.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS 31.03.2008 31.03.2007 31.03.2006

TOTAL 230.164 240.075 98.346

FIXED ASSETS [Net Block] 87.562 51.124 24.610

CURRENT ASSETS, LOANS & ADVANCES

MISCELLANEOUS EXPENSES 0.000 0.000 0.000

TOTAL 230.164 240.075 98.346

PROFIT & LOSS ACCOUNT

PARTICULARS 31.03.2008 31.03.2007

Sales Turnover 823.777 733.130

Profit/(Loss) Before Tax 6.256 17.715

Export Value 0.290 0.000

Import Value 106.398 102.527

Earnings Per Share (Rs.) 11.85 NA

PARTICULARS 31.03.2008 31.03.2007 31.03.2006

PAT / Total Income (%) 0.35 1.71 NA

Net Profit Margin (%) 0.76 2.42 NA

Return on Total Assets (%) 1.42 3.64 NA

Return on Investment (ROI) 0.04 0.23 NA

Debt Equity Ratio 1.85 5.33 9.11

Current Ratio 1.55 1.76 1.96

LOCAL AGENCY FURTHER INFORMATION

Name of the company ARROW INTERNATIONAL PRIVATE LIMITED

and all future machinery belonging to or in the

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