Volume: 3. CRISIL SME Connect. A newsletter from CRISIL SME Ratings. Your connection to what really matters

Transcription

1 Volume: 3 CRISIL SME Connect A newsletter from CRISIL SME s Your connection to what really matters January 2009

2 Economy Perspectives Balance of Payments worsens The current account deficit shot up to US$ 12.5 billion in Q2 FY09 compared to US$ 4.2 billion same period last year as higher crude oil prices and a weak currency increased import bill. In contrast, capital account surplus contracted sharply to US$ 8.2 billion compared to US$ 33.5 billion during the Q2 FY08. As a result, the foreign exchange reserves declined on BoP basis (i.e., excluding valuation) for the first time after Q3 FY06 by US$ 4.7 billion. Industrial production contracts While industrial production contracted by 40 basis points, the manufacturing sector shrunk by 120 basis points in October The negative cumulative growth of intermediates does not bode well for future manufacturing growth. Overall, we expect overall industrial growth to moderate to 5.5 per cent in Exports contract again Whereas merchandise exports dipped by 9.9 per cent to $11.5 billion in November 2008, the second consecutive contraction, impost grew marginally by 6.1 per cent. In rupee terms exports expanded 12 per cent as Rupee has depreciated significantly during the 12 months. Imports grew marginally at 6.1 per cent. Trade deficit stood at $10 billion in November 2008, as compared with $7.5 billion a year ago. Inflation falls sharply The slump in fuel and commodities prices dragged inflation down to 8.5 per cent in November. Inflation fell further to a low of 6.4 per cent for the week ending December 20. Possibility of further cut in domestic fuel prices, together with overall dampened demand should bring down inflation further. We expect average inflation for to be within the range of per cent. Liquidity at comfortable level Non-food credit growth at 26.3 per cent during the fortnight ending December 5, has moderated as compared with the growth of previous couple of months. Barring September 2008, when the money supply growth dipped to 18.2 per cent showing clear signs of the liquidity crunch following the global financial crisis, it has remained in the range of per cent during this financial year. Rupee appreciates, but remains volatile After appreciating to the level of per US$ on December 19, the currency weakened again to the end the year 2008 at It continued to slide in the first couple of days of The resumption of Special Market Operations by the RBI for oil companies and a reversal of sorts in foreign portfolio investment strengthened the rupee in the first half of December. We expect the currency to stabilise around the current level - in the range of 47 to 48 per US$ by the fiscal year end. 10-year G-secs yields fall to record-low The yield on the benchmark 10-year G-sec have hit a record low. The spread between 10 and 1 year G-sec has narrowed resulting in an almost flat yield curve. The spread between the corporate bond yield and 10-year G-sec continues to remain over 300 basis points, in spite of a recent decline. The increased government borrowings could exert upward pressure on yield, going forward. We expect the yields on the benchmark 10-year G-sec to end in the range of per cent Global economy Global economy slowed down further in the third quarter of 2008 with all four majors - US, European Union, Japan and UK reporting output contraction. Growth in China also fell below the double digit mark. World over, inflation fell sharply as commodity and food prices softened further. On December 16, the Fed reduced the rate to near zero (the 0 to 0.25 per cent corridor). Going forward, the world economy is set to slow down sharply next year with all major advanced economies in recession mode. Economic Outlook Growth Inflation Interest rate Exchange rate Fiscal deficit (Incl off-budget liabilities) 1 Parameter Re / US $ (Year-end) as a % of GDP Macroeconomic Indicators - Forecasts Agriculture 2.5 Industry Services Total WPI-Average 10-year G-Sec (Year-end) Rationale In view of intensification of global financial crisis, the growth forecast has been revised downwards to per cent for Industrial growth is expected to remain subdued. Services growth too is expected to moderate, although it would continue to be the main driver of growth. The tight policy measures wielded by the RBI until July together with the falling prices of crude oil and commodities have helped in combating the inflation. Inflation will be around 2-3 per cent, well below RBI's initial estimate of 7 per cent by the end of this financial year. The steady infusion of liquidity by the RBI via cuts in the repo rate and CRR as well as a decline in demand by the private sector as a result of growth slowdown would be bring the interest rates down at a faster rate than earlier anticipated. In contrast, the increased government demand for funds to finance its deficit would work in the opposite direction. Overall, our interest rate forecast is consistent with our GDP growth forecast. With the resumption of the Special Market Operations (SMOs) for oil companies and postitive FII net inflows, the currency has changed direction and moved back towards its fundamental value. However, unless foriegn investment recovers drastically, the currency is not expected to see any further significant upward movement. However, the margin of error for the forecast is the high as there is a significant probability that net capital flows will continue to be outward over the next couple of quarters. With mounting oil, food and fertiliser subsidies and the negative impact of farm waiver and sixth pay commission pay hikes, the official target of 2.5 of GDP is unlikely to be achieved. On balance, our forecast for fiscal deficit (including off-budget liabilities) now stands at 6.2 per cent of GDP for

3 Update on Industry Commercial vehicle manufacturers: CRISIL keeps all its outstanding credit ratings under continuous surveillance. The surveillance process ensures ongoing monitoring of all sectors, and involves frequent interactions with issuers to understand trends and track actual performance against projections. CRISIL also has detailed periodic meetings with issuers to get a closer understanding of their business and financial position and strategy. Building on the strength of this surveillance process, CRISIL will now publish CreditAlerts, providing investors and the market with more insights in today's highly dynamic business environment. Each of CRISIL's CreditAlerts will highlight sharp and rapid trends in a specific sector and the likely implications of these trends on the credit quality of companies in that sector. The financial year so far has been a difficult one for commercial vehicle (CV) manufacturers (refer table below). Sales of different categories of CVs are down by 10 to 20 per cent on a year-to-date basis; the December 2008 quarter was especially severe, with corresponding sales declines between 40 and 60 per cent compared with the December 2007 quarter. Though the slowdown in the CV market was expected, and was factored into CRISIL's ratings, industry conditions have turned out to be far worse than anticipated. This has significant implications CRISIL SME Connect for the credit quality of CRISIL-rated CV manufacturers. As the economy slows down, CRISIL believes that the downturn in sales could intensify, and last for at least a year more. The resultant decline in CV manufacturers' cash accruals, combined with a high proportion of fixed costs in their cost structure, places their profitability under pressure. Since September 2008, these companies have resorted to significant production cuts and other cost reduction measures to deal with falling demand and to align production with sales. However, CRISIL believes that these measures will only partly offset the strain on their cash flows and profitability, given the severity of the volume decline. Over the past few years, CV manufacturers have significantly increased their capacities and are in the midst of implementing capital expenditure projects or integrating large acquisitions. This has led to an increase in leverage and debt servicing commitments, adding to the pressure on their credit profiles. CRISIL is carrying out a comprehensive assessment of the impact of the above trends, and the challenging operating environment, on its outstanding ratings on CV manufacturers. Any rating or outlook change as a result of this assessment will be announced shortly. CRISIL-rated CV manufacturers Sr. No Name of the Entity CRISIL 1 Ashok Leyland Ltd. AA-/Negative/P1+ 2 Tata Motors Ltd. A /Stable/P1 Banking Sector Update Entities in capital market-related businesses CRISIL keeps all its outstanding credit ratings under continuous surveillance. The surveillance process ensures ongoing monitoring of all sectors, and involves frequent interactions with issuers to understand trends and track actual performance against projections. CRISIL also has detailed periodic meetings with issuers to get a closer understanding of their business and financial position and strategy. Building on the strength of this surveillance process, CRISIL has recently introduced CreditAlerts, providing investors and the market with more insights in today's highly dynamic business environment. Each of CRISIL's CreditAlerts will highlight sharp and rapid trends in a specific sector, and the likely implications of these trends on the credit quality of companies in that sector. Equity market valuations, trading volumes, and capitalraising in India have declined sharply in recent months. CRISIL believes that this has business and financial implications for the capital market entities it rates (refer list in Annexure). These entities are engaged in the equity broking, securities-based lending, investment banking, 2

4 and arbitrage trading businesses. Alongside the equity market drop, there has been a sharp fall in trading volumes, and a significant slowdown in capital-raising in the primary market. Average daily traded value was down to Rs.546 billion in November 2008 from Rs.917 billion in January Similarly, only Rs.126 billion of primary-market equity was raised in the seven months through October 2008, compared with Rs.1741 billion in all of (refers to financial year, April 1 to March 31). Consequently, players' business volumes and revenues have dropped. With the economy slowing down, the prospects for capital market-related businesses are unlikely to improve in Additionally, most capital market entities significantly expanded their operations in and , investing in branches, employees, and infrastructure, leading to an increase in their fixed operating costs. The combination of high fixed costs and reduced business activity has resulted in a pronounced weakening in their earnings profiles. The effect of this weakening is mitigated by the sound capitalisation of many of these entities, built up through equity raised over the past three years. All these factors create pressure on the credit quality of capital market entities, particularly those that have a narrow product profile, or a high and inflexible fixed-cost base. Conversely, companies with strong market positions, large capital bases and low gearing, will be better placed to withstand these pressures. CRISIL is carrying out a comprehensive assessment of the impact of the above trends on its outstanding ratings on capital market entities. Any rating or outlook change will be announced shortly. List of capital - market entities and their ratings Sr. No Name of the Entity CRISIL 1 BLB Limited P2+ 2 Dolat Capital Market Pvt Ltd P1 3 ECL Finance Ltd P1+ 4 Edelweiss Capital Ltd P1+ 5 Edelweiss Securities Ltd P1+ 6 Geojit Financial Services Ltd P1 7 Geojit Credits Pvt. Ltd. P1 8 Indiabulls Securities Ltd P1+ 9 INFINA Finance Pvt Ltd. P1+ 10 ICICI Securities Ltd AAA/Stable/P1+ 11 JM Financial Consultants Pvt. Ltd. P1+ 12 J.M. Financial & Investment Consultancy Services Pvt Ltd P1+ 13 JM Financial Products Pvt Ltd AA-/Stable/P1+ 14 JM Financial Services Pvt Ltd P1+ 15 JM Financial Ventures Ltd P1+ 16 Kotak Mahindra Capital Limited P1+ 17 Marwadi Shares and Finance Ltd BBB+/Negative/P2+ 18 Motilal Oswal Financial Services Ltd P1+ 19 Motilal Oswal Securities Ltd P1+ 20 Religare Securities Ltd P1 3 About CRISIL - Did You Know? Established the Information and Research Services in Made public offering of 20, 00, 000 equity shares of Rs. 10 each at a premium of Rs. 40 per share in The offer oversubscribed by 2.47 times Crossed the 1,000 mark for debt instruments rated, in Set up Advisory Services in First to Introduce ratings on Real Estate Developers' Projects, Credit Quality Assessment of State Electricity Boards and State Governments in

5 Apr - 05 Aug-05 De c - 05 Apr - 06 Aug-06 De c - 06 A pr- 0 7 Aug-07 Dec-07 A pr- 08 Aug-08 Dec-08 N o. o f ratings assi g n e d Profile of CRISIL Rated SSIs/SMEs s by CRISIL CRISIL SME s - s (Cumulative) Industry wise distribution of ratings Industry per cent Engineering Textile and Apparel Electronics and Electrical Equipment 9.1 Printing and Packaging 7.8 Agri-products and FMCG 7.1 Chemical Plastic and Plastic Products Steel and Steel Products 4.5 Pharmaceuticals 4.1 Auto and Auto Ancilliary 3.4 Construction 3.0 IT and ITES 2.4 Others 1.7 Power 1.3 Cable and Wire 1.2 Real Estate and Infrastructure 1.2 Leather and Footwear 1.1 Paper and Paper Products 0.9 Gems and Jewellery 0.5 Telecommunication 0.5 Water treatment 0.5 Wood and Wood Products 0.5 distribution: CRISIL SME SME per centage SME SME SME SME SME SME SME 8 - Geographical distribution of ratings State per cent Maharashtra 26.3 Tamil Nadu 12.5 Gujarat 10.4 Andhra Pradesh 8.5 West Bengal 8.2 Karnataka 4.5 Uttar Pradesh 4.1 Rajasthan 3.9 Punjab 3.3 New Delhi 3.0 Madhya Pradesh 2.8 Orissa 2.8 Jharkhand 1.8 Chattisgarh 1.6 Haryana 1.2 Kerala 1.1 Pondicherry 0.7 Goa 0.6 Bihar 0.6 Chandigarh 0.5 Assam 0.4 Uttaranchal 0.4 Jammu & Kashmir 0.3 Himachal Pradesh 0.1 Daman & Diu 0.0 Meghalaya 0.0 ~ distribution: NSIC CRISIL CRISIL NSIC CRISIL SME Connect Nov 30, 2008 per centage SE 1A SE 1C 0.3 SE 2A SE 3A SE 4A - SE 4B 0.1 SE 4C 1.5 SE 5A - SE 5B - SE 5C 0.3 CRISIL Rated SSIs/SMEs: As on Nov 30, ANDHRA PRADESH G. S. Oils Ltd. Taruni Dairy Products Private Limited Deccan Tobacco Enterprises Kallam Agro Products & Oils (P) Ltd. Kallam Brothers Cottons (P) Ltd. Kallam Spinning Mills Limited Nico Agro Oil Products Pvt Ltd Sivasankari Spinning And Textiles Pvt Ltd A. R. Life Sciences Pvt. Ltd. Adilabad Chittoor Guntur Guntur Guntur Guntur Guntur Guntur SE 1A SME 3 SE 4C Access Solar Limited Adarsh Sacks Pvt Ltd AG Bioteck Laboratories India Limited Anantha PVC Pipes Private Limited Ashok Polymers Ltd Balaji Steel Rolling Mills Pvt Ltd Bharat Biotech International Ltd Bliss Industries C.S.Wires Pvt Ltd SME 1 Cambridge Technology Enterprises Ltd. SME 1 4

6 SE 2A SME 3 SME 3 SME 3 SE 2A SME Kakatiya Energy Systems Pvt Ltd karthik Steel Industries Kasargod Power Corporation Pvt Ltd Kora Industries KVK Bio- Energy Pvt Ltd Landmark Builders Lisa Ampoules & Vials Pvt Ltd. Magnificent Homes Pvt. Ltd. Mahavir Constructions Maithri Laboratories Pvt Ltd Medchem International Ltd Meenakshi Smelter & Roller Pvt. Ltd. Midfield Industries Limited MMS Steel & Power Pvt Ltd Mohammed Khan Jewellers Pvt Ltd MSN Laborotories Ltd MSN Pharmachem Pvt Ltd Musaddilal Jewellers Exporters Pvt. Ltd. Musaddilal Jewellers Exporters Pvt. Ltd. Musaddilal Jewellery Exporters Pvt Ltd MYK Laticrete India Pvt. Ltd. Nandan Biomatrix Ltd Nawa Engineers & Consultants Pvt Ltd P.G.Power Systems Pvt Ltd Pawan Oil Industries SME 3 SME 4 SME 4 SME 4 SME 3 SE 1A SME 3 SME 3 SME 3 SE 1A SE 1A 69 Pelican Rubber Limited Dada Energies Limited Dakshin Plastics Pvt Ltd Deccan Engineering Enterprises Deccan Polypacks Ltd. Dhanlaxmi Iron Industries Ltd Disha Foods (P) Ltd. Egwood Boards & Panels Pvt Ltd Enal Drugs Pvt Ltd Enon Drugs (India) Limited Excel Woven Sacks Pvt Ltd Godavari Plasto Containers Pvt Ltd Harika Drugs Pvt Ltd Heritage Polymers Limited Hexagon Construction Hiranya Chem Elec Equipment pvt Ltd Husys Consulting Private Limited Infoline Communications Pvt Ltd Integrated Thermoplastics Limited Jeevaka Industries Ltd Jivanta Laboratories Pvt. Ltd. JMC Contructions Pvt Ltd Jyothi Dairy Pvt. Ltd. K.Ramachandra Rao Transmission & Projects Pvt ltd Kailash Diagnostic & Rehabilitation Centre Private Limited 70 Planet India Remedies Pvt. Ltd. 71 Pragati Offset Private Limited SME 1 72 Prasad & Pharmachem Ltd 73 Pulse Pharmaceuticals Pvt Ltd 74 Puzzolana Machinery Fabricators SE 1A 75 R.A.U.S.Constructions Pvt Ltd SME 3 76 R.K. Steel Udyog Pvt Ltd 77 Radha Krishna Industries 78 Raathi Pipes & Profiles Ltd 79 Ravi Foods (P) Ltd. SE 1A 80 Reacon Industries Pvt Ltd 81 Reddy's Polymers Processing Limited 82 Ree Poly Plast 83 Revat Metforms Private Limited 84 Sai Sri Woven Sacks Pvt Ltd 85 Sai Sri Woven Sacks Pvt Ltd 86 Sealwel Corporation SE 2A 87 Shree Jewellers 88 Shree Siddhivinayaka Agro Extractions Pvt Ltd 89 Shuchi Energy AD Promotions Private Ltd 90 Sidhi Jewellers 91 Sigachi Chloro Chemical Pvt Ltd 92 Sigma Solid Strips Pvt. Ltd. SME 3 93 Sipra Labs Limited SME 1 94 Smart Labtech Pvt. Ltd 95 SMM Paper Marketing Pvt Ltd 96 SMS Pharmaceuticals Ltd. SME 1 97 Sree Comfortables Pvt Ltd 98 Sree Rayalseema Green Steloy Limited SME 4 99 Sree Rayalseema Sugar and Energy Pvt Ltd SME Sree Sai Roller Flour Mill Pvt Ltd SE 2A 101 Sri Annapurna Chemical industries SE 2A 102 Sri Krishna Jewellery Mart SME Sri Srinivasa Dairy Products Pvt Ltd 104 Sri Venkateshwara Coir Products Pvt Ltd SE 1A 105 Srinivasa Foods & Feeds Pvt Ltd SE 2A 106 Srinivasa Polypack 107 sudershan laboratories Ltd 108 Sudhakar Irrigation Systems Pvt. Ltd. SME Sudhakar PVC Products 110 Sumohan Engineers Pvt. Ltd. 111 Surya Industrial Equipments 112 Surya Polytex Pvt Ltd. SME Suvidha Inspection Methods & Systems 114 SVR Steels Pvt Ltd 115 SVS Wires Pvt Ltd 116 Symed Labs Limited SE 1A 117 Tanmai Jewels Pvt Ltd SME Technostrength Pvt Ltd SE 2A 119 Thermal Systems Pvt. Ltd. SME Thermo Cables Ltd 121 Trans Valves (India) Pvt. Ltd. 122 Turbomachinery Engineering Industries Ltd. SME UDI Foods and Beverages Private Limited SME Uni Sankyo Limited 125 Vance & Health Pharmaceuticals Pvt Ltd 126 Venkatarama Chemicals Ltd 127 Vet India Pharmaceuticals Ltd 128 Vidyuth Control Systems Pvt Ltd 129 Vijay Neha Polymers Pvt. Ltd. 130 Vijaya Diagnostic Centre (P) Ltd. 131 Vijayasri Organics Limited

7 132 Virupaksha Organics Pvt Ltd SE 2A 133 Weld Fuse Private Limited SE 2A 134 Meru Automobiles Pvt Ltd Kurnool 135 Sree Rayalseema Green Energy Ltd Kurnool SME Sampoorna Manufacturing Technologies Pvt Ltd Medak 137 Sudhakar Plastic Ltd. Nalgonda 138 Sudhakar Polymers Ltd. Nalgonda 139 Dawn Engineering Enterprises Rajahmundry 140 Sri Vasavi Polymers Pvt. Ltd. Rajam SE 5C 141 G. K. Developers Secunderabad SME IPM Bio Control Labs Private Limited Secunderabad 143 ISCO Track Sleepers Pvt Ltd Secunderabad SME Mahidhara Chemicals (P) Ltd. Secunderabad SE 2A 145 Mazda Concrete Products Pvt Ltd Secunderabad SME Patil Rail Infrastructure Pvt. Ltd. Secunderabad SME Platinum Properties Pvt Ltd Secunderabad SME Premier Plastic Industries Secunderabad 149 Premier Solar Systems Pvt Ltd Secunderabad SE 1A 150 Rayalseema Concrete Sleepers Pvt Ltd Secunderabad SME Sangam Wires Pvt Ltd Secunderabad SME Shakti Met-Dor Limited Secunderabad SME Shyam Pharma Pvt Ltd Secunderabad 154 Zen Technologies Limited Secunderabad SME Micro Components Pvt. Ltd. Solapur 156 Nandi Polymers India Pvt Ltd Tirupati 157 Saptagiri Polytek Pvt ltd Tirupati 158 Srivari Industries Tirupati 159 Ajay Drugs & Pharmaceuticals Vijayawada 160 Annapurna Industries Vijayawada 161 Bala Balajee Textiles Limited Vijayawada SME Chaitanya Oils Ltd Vijayawada 163 G.S. Alloy Castings Ltd Vijayawada SME Girija Modern Rice Mill Vijayawada 165 Kiran Engineers Vijayawada 166 Kristna Engineering Works Vijayawada SE 2A 167 Model Dairy Pvt Ltd Vijayawada SE 1C 168 Namaste Packaging Pvt. Ltd. Vijayawada 169 Pallavi Enterprises Vijayawada 170 Prakasa Spectro Cast Pvt Ltd Vijayawada SE 2A 171 Prathap Industries Vijayawada 172 Radha Madhav Toyota Vijayawada SME Ramanjaneya Rice Mill Vijayawada 174 Sarvani Readymix Concrete Industry Vijayawada 175 Sesha Sayee Knittings Pvt Ltd Vijayawada 176 Shridhar Engineering & Rubber Products Pvt LtdVijayawada 177 Sri Rajya Lakshmi Industries Vijayawada 178 Sri Sai Paper Products Vijayawada 179 Sri Venkateswara Industries Vijayawada 180 Srikara Parenterals Pvt Ltd Vijayawada 181 Vijai Bhavani Power Tech Pvt Ltd Vijayawada 182 Vijay Foods Vijayawada 183 Vijay Industries Vijayawada 184 Zoya Labs Vijayawada 185 Almag Marketing (India) Pvt Ltd Visakhapatnam 186 Ananda Profiles Pvt Ltd Visakhapatnam 187 Deccan Ferro Alloys Pvt Ltd Visakhapatnam 188 Evergreen Veneers P Ltd Visakhapatnam SE 2A 189 Hi Tech Rubber Products Visakhapatnam 190 Inar Profiles Private Limited Visakhapatnam 191 Phoenix IT Solutions Ltd Visakhapatnam SE 1A 192 Precistat IT Solutions Pvt. Ltd. Visakhapatnam 193 S.K. Sarawagi & Co Pvt Ltd Visakhapatnam SME ASSAM Modi Industries Dibrugarh 197 Neelam Steel Industries Dibrugarh SE 5C 198 Harlalka Manufacturing Enterprisers Guwahati 199 Jakpod Garments Guwahati SE 4C 200 Jericho Agro Processor Guwahati 201 Meghalaya Bitchem (P) Ltd. Guwahati 202 North Eastern Tubes Limited Guwahati 203 Polymat Industries Guwahati 204 S M Cement Industries Guwahati SE 3A 205 Sagar Steels Guwahati 206 Steel & Grip Guwahati 207 National Mining Limited SME D.l. Lime Industry Karimganj SE 4B 209 BIHAR Bajrang Bali Iron Industries Patna 210 Bihar Hotels Ltd. Patna 211 Dadiji Steels Ltd. Patna 212 Daya Engineering Works Pvt. Ltd. Patna 213 Joharilal Agarwala Sales Pvt. Ltd. Patna SME Mani Printers Patna 215 Pratibha Printers and Stationery Patna 216 Ruby Industrial Fastners Patna SE 4C 217 Sanjay Printing Works Patna 218 Shree Shakambhari Udyog Patna 219 The Best Towers Pvt. Limited Patna 220 Vaishali Paints Limited Patna 221 Vidya Vihar Educational Trust Patna SME 4 CHANDIGARH 222 Azad Offset Printers Pvt. Ltd. Chandigarh 223 Chandigarh Iron & Steel Co. Ltd. Chandigarh SME Crystal Sanitary Fittings Pvt. Ltd. Chandigarh 225 D. M. Pharma Chandigarh 226 Econ Tooling Sytems (P) Ltd. Chandigarh 227 Empire Packages Pvt. Ltd. Chandigarh 228 HIM Cableways Chandigarh 229 Hari Narain Industries Chandigarh 230 Hi-Tech Industries Ltd. Chandigarh 231 Him Overseas Chandigarh SE 2A 232 J.S.K. Aluminium Pvt. Ltd. Chandigarh 233 Khosla Machines Pvt. Ltd. Chandigarh SE 2A 234 Khosla Precisons Chandigarh SE 2A 235 Park Pharmaceuticals Chandigarh 236 Preet Remedies Pvt. Ltd. Chandigarh SE 2A 237 Punjab Acids Chem (P) Ltd. Chandigarh 238 Recorders & Medicare Systems (P) Ltd. Chandigarh SE 1A 239 Shiva Bitumen Chandigarh 240 Sri Rama Steels Ltd. Chandigarh SME Valco Industries Ltd. Chandigarh SE 2A 6

8 CHHATTISGARH 242 ABS Metals Pvt. Ltd. Bhilai SME Bhilai Auxiliary Industries Bhilai 244 Bhilai Coal & Coke (Unit II) Bhilai 245 Bhilai Structurals Bhilai 246 Jupiter Coal Co. Unit - II Bhilai 247 Orient Ispat (P) Ltd. Bhilai SME Orient Steel Re - Rolling Mill Bhilai 249 P. S. Steel Tubes Ltd. Bhilai SE 1A 250 Shri Metcast Pvt. Ltd. Bhilai 251 Mahavir Global Coal Ltd. Bilaspur 252 Abhishek Steel Industries Limited Raipur 253 Agrawal Oil Extractions Ltd. Raipur SME Agrawal Structure Mills (P) Ltd. Raipur 255 Alankar Alloys Pvt. Ltd. Raipur 256 Alankar Steels Pvt. Ltd. Raipur 257 Ankit Steels Raipur 258 Avinash Developers (P) Ltd. Raipur SME Balajee Structurals (I) Ltd. Raipur SME Baldev Alloys (P) Ltd. Raipur SME Mall Developers Pvt. Ltd. Raipur SME Goyal Foods Raipur 263 Jaika Automobiles & Finance (P) Ltd. Raipur 264 Kunal Pipes (India) Pvt. Ltd. Raipur 265 Rajesh Strips Limited Raipur 266 S.D. Industries Raipur 267 S.D. Soaps & Cosmetics Raipur 268 Salasar Steel And Power Ltd. Raipur 269 Shivali Udyog Ltd. Raipur SME 3 DADRA & NAGAR HAVELI 270 Gujarat Cables & Enamelled Products Pvt Ltd Dadra 271 Ganpati Alloys Silvassa 272 Jagannath Extrusion India Ltd Silvassa SE 2A 273 DAMAN & DIU Kala Plastics Daman 274 Total Packaging Services Daman SE 2A GOA 275 Anupam Insulating Industries Goa 276 Clean Cat Conveyors Pvt. Ltd. Goa 277 Desai Cashew & Allied Products Goa 278 Esteem Industries Pvt. Ltd. Goa 279 GMI Zarhak Moulders Pvt. Ltd. Goa 280 Global Conveyor Systems Pvt. Ltd. Goa 281 Goa Auto Accessories Ltd. Goa 282 Goa Electric Goa 283 Grand Organics Pvt. Ltd. Goa 284 Laminex Goa 285 Omega Fibres Goa 286 Power Engineering (I) Pvt. Ltd. Goa 287 Sai Cashew Products Goa 288 Saishiv Boards And Tops Private Limited Goa 289 Sam Services Goa 290 Shanti Agro Industries Goa 291 Shanti Agro Processors (Goa) Pvt. Ltd. Goa 292 Shri Mahalsa Power Rentals Goa 293 Venus Ethoxyethers Pvt. Ltd. Goa Vic Industries Goa GUJARAT 295 A B Composites Pvt Ltd Ahmedabad 296 Ainaj Industries Ahmedabad 297 Alok Textile Mills Private Limited Ahmedabad 298 Apollo Infratech Pvt Ltd Ahmedabad 299 Arcoy Industries (India) Pvt. Ltd. Ahmedabad 300 Ashok Vijay Engineering Works Ahmedabad 301 Ashutosh Metal Pvt Ltd Ahmedabad 302 Asiatic Industries Ahmedabad 303 Baheti Metal & Ferro Alloys Ltd Ahmedabad 304 Balas Industries (P) Ltd Ahmedabad 305 Bhavik Publication Pvt Ltd Ahmedabad 306 Care Office Equipment Pvt Ltd. Ahmedabad 307 Chirag Offset Pvt. Ltd. Ahmedabad SE 2A 308 Confisec Printers Ahmedabad 309 Dev Information Technology Pvt. Ltd. Ahmedabad 310 Duke Plasto Technique Private Limited Ahmedabad 311 Endeavour Instrument Pvt Ltd Ahmedabad 312 Fineline Circuit Ahmedabad SE 2A 313 Gaurav Industries Pvt Ltd Ahmedabad 314 Gujarat Pickers Industries Limited Ahmedabad SME Gujarat Smelting & Refining Comp Ltd Ahmedabad 316 Hardware Tools & Machinery Projects Pvt. Ltd Ahmedabad 317 Impulse Enterprise Ahmedabad 318 Infab Infrastructure Pvt Ltd Ahmedabad SE 2A 319 Iris International Ahmedabad 320 Jaihind Projects Limited Ahmedabad 321 Jainam Cables Industries Ahmedabad 322 Jasvant B Shah Ahmedabad SME Jolly Enterprise Ahmedabad 324 Kisan Proteins Pvt Ltd Ahmedabad 325 Maxeema Biotech Private Limited Ahmedabad 326 Millenium Forging Pvt ltd Ahmedabad 327 N. K. Automobiles Pvt Ltd Ahmedabad 328 Rainbow Packaging Pvt Ltd Ahmedabad 329 Raj Polyplast Ahmedabad 330 Raninga Ispat Pvt Ltd Ahmedabad 331 Sahitya Mudranalaya Pvt Ltd Ahmedabad SE 1A 332 Sakar Ferro Alloys Pvt Ltd Ahmedabad 333 Seagull Maritime Agencies Pvt Ltd Ahmedabad 334 Seema Jewellers Pvt Ltd Ahmedabad 335 Shital Chemicals Ahmedabad 336 Shivanand Polymers Ahmedabad 337 Shree Chlochem Ltd Ahmedabad 338 Star Freight Pvt Ltd Ahmedabad 339 Styro Steel Cast Pvt Ltd Ahmedabad 340 Synwave Industries Ahmedabad 341 Topline Ceramics Pvt. Ltd. Ahmedabad 342 United Polyfab Pvt Ltd Ahmedabad 343 Veer Steel Processors Ahmedabad SE 2A 344 Vertex Laminate Pvt Ltd Ahmedabad 345 Vijay Enterprises Pvt Ltd Ahmedabad 346 Vinod Fabrics (P) Ltd Ahmedabad 347 Winco Valves Pvt Ltd Ahmedabad 348 Ankleshwar Ammonia Supply Co. Ankleshwar

9 349 Anmol Chemicals (Gujarat) Pvt Ltd Ankleshwar 350 Apex Healthcare Limited Ankleshwar 351 Hi-Tech Engineers Ankleshwar 352 Jackson Chemical Industries Ankleshwar 353 Laksh Venture Pvt Ltd Ankleshwar 354 M. Mech Engineers (P) Ltd Ankleshwar 355 Mega Innovative Crops Pvt Ltd Ankleshwar 356 Ratnamani Bio-Chemicals & Pharmaceuticals Pvt ltd Ankleshwar 357 Tatva Chintan Pharma Chem Pvt Ltd Ankleshwar 358 Techno Forge Ltd Ankleshwar SE 1A 359 Urvashi Pulp & Paper Mills Pvt Ltd Ankleshwar 360 Jugalkishore Ramkishan Agrawal Banaskantha Infrastructure Pvt. Ltd 361 Jyotindra International Banaskantha 362 Shivam Agroprocess Pvt Ltd Banaskantha 363 Adison Welding Products Ltd Baroda 364 Link Pharma Chem Ltd. Baroda SME Spa Vet-Min Pvt Ltd Baroda 366 Sunrise Industries (India) Ltd Baroda 367 Daya Glass Industries Pvt Ltd Bharuch SME Kenny Pharma Pvt Ltd Bharuch 369 Narmada Industries Bharuch 370 R. P. Industries Bharuch 371 Shivam In Corporation Bharuch 372 Shreejee Print & Pack Bharuch 373 Madhu Silica Pvt Ltd Bhavnagar 374 Megha Insulations Pvt. Ltd. Bhavnagar SME Navneet Ginning & Pressing Pvt Ltd Bhavnagar 376 Shree Electromelts Ltd Bhavnagar 377 Amul Boards Private Limited Gandhidham 378 Narayani Coke Pvt Ltd Gandhidham 379 APS International Gandhinagar 380 Hermes Technologies Pvt Ltd Gandhinagar 381 Modern Communication & Gandhinagar Broadcast Systems Pvt Ltd 382 Savolite Gandhinagar 383 Yogi Cab Insulation Pvt Ltd Gandhinagar 384 Geeta Machine Tools Pvt Ltd Jamnagar 385 Gold Star Battery Private Limited Jamnagar 386 Meridian Impex Jamnagar 387 Metal Alloys Corporation Jamnagar SE 2A 388 Paramount Pistons Jamnagar 389 Parts & Spares Jamnagar 390 Rajhans Impex Pvt Ltd Jamnagar 391 Rajhans Metals Private Limited Jamnagar 392 Rajshanti Metals Pvt Ltd Jamnagar 393 Samanjas Udyog Pvt Ltd Jamnagar 394 Silver Proteins Pvt Ltd Jamnagar 395 Siyaram Impex Pvt Ltd Jamnagar 396 Siyaram Metal Udyog Jamnagar 397 Siyaram Metals Pvt Ltd Jamnagar SE 2A 398 Vekaria Engineering Works Pvt Ltd Jamnagar 399 Haji Alimohammed Moosa & Co Junagadh 400 Max Precision Bearings Pvt Ltd Junagadh 401 R M Dasa Infrastructure Pvt Ltd Junagadh 402 Vardhaman Industries Junagadh 403 Vikas Cotton Industries Junagadh 404 Vinayak Ginning & Pressing Factory Junagadh 405 Gajlaxmi Cotton Industries Kadi 406 Bohmis Industries Limited Kalol 407 Ganesh Rubber Industries Kalol 408 Agrocel Industries Ltd Kutch SE 1A 409 Arya Cotton Industries Kutch SE 4B 410 Bajrang Bali Coke Industries Pvt Ltd Kutch 411 Gayatri Cotton Industries Kutch SE 4C 412 Advatech Cera Tiles Ltd Mehsana 413 Apollo Construction Equipments (P) Ltd Mehsana SE 2A 414 Fortune Engineers Mehsana 415 Hiramani Cotton Industries Mehsana 416 John Engineering Pvt Ltd Mehsana 417 KZ Cotspin India Limited Mehsana 418 Kalp Corporation Mehsana 419 Kiran Industries Mehsana 420 Kokila Cotton Industries Mehsana 421 Kuvarba Cotton Industries Mehsana 422 Mamta Cotton Industries Mehsana 423 Omkar Cotton Industries Mehsana 424 P.B. Cotton Industries Mehsana 425 Patel Cotton Industries Mehsana 426 Pramukh Polymers Mehsana 427 Royal Castor Products Ltd Mehsana 428 Sagar Rubber Products Pvt Ltd Mehsana SME Shakti Cotton Industries Mehsana 430 Unitech Automation Mehsana SE 4B 431 Zamzam Exports Limited Mehsana 432 Ajanta India Limited Morbi 433 Jaydeep Chem Food Pvt Ltd Morbi 434 Lexus Ceramic Pvt Ltd Morbi 435 Magnum Ceramics Pvt Ltd Morbi 436 Morvi Vegetable Products Ltd. Morbi SE 2A 437 Nelco Ceramics Morbi 438 Shree Gita Ginning & Oil Industries Morbi 439 Sorento Granito Pvt Ltd Morbi SME Suncity Ceramics Morbi 441 Vita Granito Pvt Ltd Morbi SME Zealtop Granito Pvt Ltd Morbi SME Asian Food Industries Nadiad 444 Mukul Jamsons Navsari 445 Sunshine Mechanical Works Navsari SE 4C 446 Siddhi Vinayak Industries Patan 447 Shree Shiv Shakti industries Radhanpur 448 Adani Pharmachem Pvt. Ltd. Rajkot 449 Amul Industries Pvt Ltd Rajkot 450 Blossom Kitchenware Pvt Ltd Rajkot 451 C. K. Industries Rajkot 452 Captain Polyplast Ltd Rajkot 453 Captain Tractors Pvt Ltd Rajkot 454 Dharpat Casting Pvt Ltd Rajkot 455 EPP Composites Pvt Ltd Rajkot 456 Eagle Corporation Pvt. Ltd. Rajkot SME Eagle Corporation Pvt. Ltd. Rajkot SME Endoc Pharma Rajkot 459 Essen Multipack Ltd Rajkot SE 1A 8

10 460 Evershine Metals Rajkot 461 Fieldman Engineers Pvt Ltd Rajkot 462 Fishfa Rubbers Pvt Ltd Rajkot 463 Forge & Forge Pvt Ltd Rajkot SE 2A 464 Galaxy Chains Pvt Ltd Rajkot 465 Galaxy Conveyors Pvt Ltd Rajkot 466 Galaxy Cotton & Textiles Pvt Ltd Rajkot 467 Ganga R.K. Industries Pvt Ltd Rajkot 468 Giriraj Ginning and Pressing Pvt Ltd Rajkot 469 Gokul Industries Rajkot 470 Gujarat Lathe Mfg. Co. Pvt Ltd Rajkot SE 2A 471 Gulab Oil and Foods Pvt Ltd Rajkot 472 HSM Foods International Rajkot 473 Inova Cast Pvt Ltd Rajkot 474 Inovative Technocast Pvt Ltd Rajkot 475 Jalaram Cotton & Protein Pvt Ltd Rajkot 476 Jaydeep Cotton Fibres Pvt Ltd Rajkot 477 K K Cotex Rajkot 478 Kaneriya Oil Industries Rajkot 479 Kasuma Auto Eng. (P) Ltd Rajkot 480 Kavan Cotton Industries Rajkot 481 Kaveri Polymers Pvt Ltd Rajkot 482 Kishan Autoparts Limited Rajkot 483 Kishan Forge Pvt Ltd Rajkot 484 Krishna Metacraft Pvt Ltd Rajkot 485 Lakshmi Cot - Gin Pvt. Ltd. Rajkot 486 Magnetic Industries Ltd Rajkot SE 1A 487 Major Cement Pvt Ltd Rajkot SE 2A 488 Manek Investment Cast Pvt. Ltd. Rajkot 489 Mangrol Oil Industries Rajkot 490 Manmohan Ginning Industries Rajkot 491 Maruti Interior Products Pvt Ltd Rajkot 492 Mehta Surgicare Pvt Ltd Rajkot 493 Miro Ref. Pvt Ltd Rajkot 494 Narendra Cotton Ginning & Rajkot Pressing Co. Pvt Ltd 495 Narmada Pipes Rajkot 496 National Cotton Industries Rajkot 497 New Kishan Cement Pvt Ltd Rajkot SE 2A 498 Nikoo Forge Pvt Ltd Rajkot 499 Orbit Bearings (India) Private Limited Rajkot SE 2A 500 Parv Metal Processing Co. Rajkot 501 Patel Cotton Industries Rajkot 502 Perfect Polymers Rajkot 503 Radheshyam Fibers Pvt Ltd Rajkot 504 Raghuvir Cotton Ginning and Pressing Pvt LtdRajkot 505 Rajendra Cold Storage Rajkot 506 Roto Screentech Pvt Ltd Rajkot 507 Sadguru Cotton Pvt Ltd Rajkot 508 Sahyog Cotton and OIl Pvt. Ltd. Rajkot 509 Sanjivani Casting Pvt ltd Rajkot 510 Savalia Cotton Ginning & Pressing Pvt. Ltd. Rajkot 511 Senso Granito Pvt Ltd Rajkot SME Shalibhadra Cotgin Pvt Ltd Rajkot 513 Shree Govardhan Cot-gin Pvt Ltd Rajkot 514 Silver Engineering Co Rajkot 515 Simpolo Ceramics Rajkot SE 2A Somnath Cottgin (I) Pvt Ltd Rajkot 517 Steelcon Impex Pvt Ltd Rajkot 518 Topland Engines Pvt Ltd Rajkot 519 Topland Exports Rajkot 520 Umiya Cot Fibres Rajkot 521 Perma Construction Aids Pvt Ltd Sarigam 522 Smita Conductors Ltd. Silvassa SME Alliance Fibres Pvt Ltd Surat 524 Amansi Arts Surat 525 BR Designs Surat 526 Fosbel Glass Decorators Surat 527 Gujarat Hira Bourse Surat SME Happy Engineering Surat 529 Kinsum Industries Surat 530 Mavin Texturisers Pvt Ltd Surat 531 Natural Arts Surat 532 Natural Creation Surat 533 Natural Fabrics Surat 534 Natural Fashion Surat 535 Natural Impex Surat 536 Neelima Synthetics Pvt Ltd Surat 537 Om Filaments Pvt Ltd Surat 538 Rachit Creation Surat 539 Rachna Art Prints Pvt Ltd Surat SME Sachinam Fabrics Pvt Ltd Surat 541 Safari Apparel Pvt Ltd Surat 542 Sangam Fashions Pvt Ltd Surat 543 Shamal & Shamal Pvt Ltd Surat 544 Siddhant Threads Surat 545 Siddharth Filaments Pvt Ltd Surat 546 Sumeet Industries Limited Surat 547 Sumilon Industries Limited Surat 548 Swaraj Syntex Pvt Ltd Surat 549 Tapi Food Products Surat 550 Tejoday Dyeing & Printing Works Surat 551 Ugam Impex Pvt Ltd Surat 552 Venus Fibers Pvt Ltd Surat 553 Vimal Agro Products Pvt Ltd Surat SE 1A 554 Vishu Arts Surat 555 Vishwa Fashions Pvt Ltd Surat 556 Vishwaprem Dyeing & Printing Mills Pvt Ltd Surat 557 Zoom Synthetics Pvt Ltd Surat 558 Gujarat Hightension Insulator Surendranagar 559 M N Rubber Industries Surendranagar 560 Prakash Ceramics Surendranagar 561 Purav Cotton Industries Surendranagar 562 Shree Patel Industries Surendranagar 563 Shree Patel Industries Unit-III Surendranagar 564 Steelman Gases Pvt Ltd Surendranagar 565 Sunshine Fastners Private Limited Surendranagar 566 Tejas Steel Industries Surendranagar 567 Zalawad Tractors Surendranagar 568 Balaji Fiber Reinforce Pvt Ltd Vadodara 569 Bright Metasteel Pvt Ltd Vadodara 570 Conmat Systems Vadodara SE 2A 571 Crane Hiring Co. Vadodara 572 Elec Steel Processing Industries Vadodara

11 573 Friend's Industry Vadodara 574 H.B.Engineers Pvt Ltd Vadodara 575 Jhaveri Securities Pvt Ltd Vadodara 576 Jindal Agro Processing Pvt Ltd Vadodara 577 Miles Motors Pvt Ltd Vadodara 578 Mona Engineering & Body Builders Vadodara 579 Paragon Synthetics & Polymers Ltd Vadodara 580 Pratik Transformers Pvt Ltd Vadodara 581 RD Dynamech Infra Private Ltd Vadodara 582 SkyLight Doors and Windows Pvt Ltd Vadodara 583 Suryavinayak Engineers Vadodara 584 Tube Products Incorporate Vadodara SME Tube Products Incorporate Vadodara SME UNP Polyvalves (India) Pvt Ltd Vadodara 587 Universal Medicap Ltd. Vadodara SME Zephyr Synthesis Pvt Ltd Vadodara 589 Keen Diam Pvt Ltd Valsad 590 Klenzaids Contamination Controls Pvt. Ltd. Valsad 591 Gravicast Industries Vapi 592 Prayag Tex Print Pvt Ltd Vapi HARYANA 593 Ambala Associates Ambala 594 Kiran Packaging Industries Ballabgarh 595 ATM Exports Pvt.Ltd. Faridabad 596 Amrit Udyog Faridabad SME Arra Motion Systems Pvt.Ltd. Faridabad SME BIO MED Healthcare Products Pvt. Ltd. Faridabad 599 Coirfoam (India) Pvt. Ltd. Faridabad 600 Dee Development Engineers Pvt.Ltd. Faridabad 601 Live Wire Faridabad 602 P.G.Engineers Faridabad 603 Paper Tech Engineers Pvt.Ltd. Faridabad 604 Precision Machine Tools Faridabad 605 Saifi Industrial Co. Faridabad SE 4C 606 Sandeep Axles Pvt Ltd Faridabad 607 Savvak Systems Pvt.Ltd. Faridabad SME A2Z Filtration Specialities Private Limited Gurgaon 609 NKC Projects Pvt.Ltd. Gurgaon SME Paltech Cooling Towers & Equipments Ltd. Gurgaon 611 Su-kam Power Systems Ltd. Gurgaon SME Tecpro Systems Limited Gurgaon SME Crown Optical Works Haryana 614 Mahesh Mercandise Pvt. Ltd. Karnal SME Aroma Agrotech Panipat 616 Jainsons Exports Panipat 617 Kohinoor Carpets Panipat 618 Liberty India Panipat 619 Om Shakti Textiles Panipat 620 Shiv Shakti Exports Panipat 621 Mewat Grit Udyog Rewari 622 Vimlesh Industries Pvt.Ltd. Sonepat SE 2A HARYANA 623 Acme Formulation Pvt. Ltd. Solan JAMMU AND KASHMIR 624 Alpha Menthol Jammu 625 B.D.Security Pvt.Ltd. Jammu 626 Celestial Polymers Jammu SE 2A 627 Dewa Engineers Jammu 628 Masters India Jammu SE 3A 629 Prevest Denpro Ltd. Jammu SE 1C 630 Shamson's Industries Jammu JHARKHAND 631 Atibir Hi-Tech Pvt.Ltd Giridih 632 Bir Steels Pvt. Ltd. Giridih 633 Carbon Resources Pvt Ltd. Giridih SE 1A 634 Minar Heat Transfer Pvt Ltd Giridih 635 Mongia Hi-Tech (P) Ltd. Giridih SME Chintpurni Steel Pvt.Ltd Hazaribagh SME Famica Press Industries (P) Ltd. Jamshedpur 638 Gajanand Udyog Pvt. Ltd. Jamshedpur 639 Jamshedpur Hand Pumps & Allied Products Jamshedpur 640 Jupiter Hi-Tech Systems Jamshedpur 641 Simplex Precision Instruments (P) Ltd. Jamshedpur 642 Vinayak Precon Industries Jamshedpur 643 Aar Vee Industries Ltd Ranchi 644 Classic Coal Construction(P) Ltd Ranchi SME Doyen Flyash Blocks Ranchi 646 Kamla Instruments Ranchi 647 Miki Wire Works Pvt Ltd. Ranchi SE 1A 648 Ram Kripal Singh Construction (P) Ltd Ranchi SME S.S.H.Agrotech Pvt.Limited Ranchi 650 Santpuria Alloys PVt. Ltd. Ranchi SME Shyamson India (P) Ltd. Ranchi 652 Technovation Corporation Ranchi 653 bhawani ferrous pvt. ltd Ranchi 654 divine alloys and power co. ltd Ranchi KARNATAKA 655 Advaith Motors Pvt. Ltd. Bangalore SME Ajax Fiori Engineering (I) Pvt. Ltd. Bangalore SE 2A 657 Alpine Housing Development Corporation Ltd.Bangalore 658 Alufit (India) Pvt. Ltd. Bangalore 659 Amba Auto Sales & Services Private Limited Bangalore 660 Bangalore Plastics Pvt. Ltd. Bangalore 661 Beloor Bayirbiotech Ltd. Bangalore 662 Brindavan Roller Flour Mills (P) Ltd. Bangalore 663 Dexler Information Solution Pvt Ltd Bangalore SME Dharamshi Metals Pvt. Ltd. Bangalore 665 Dighvijay Plastics & Allied Products (P) LimitedBangalore 666 Elite Automobiles Pvt. Ltd. Bangalore 667 Evergreen Irrigation Bangalore 668 Farcom Cable Systems Pvt. Ltd. Bangalore 669 Ferrum Extreme Engineering Private Limited Bangalore 670 Firepro Systems Private Limited Bangalore SME G. I. Auto Pvt. Ltd. Bangalore SE 2A 672 G. R. G. Dairy Products Pvt. Ltd. Bangalore 673 Geeson Metal Finishers Bangalore 674 Gan Tools and Components Bangalore 675 Genuine Products Bangalore 676 Global Pharmatech Pvt. Ltd. Bangalore SME Goodwill Industries Bangalore 678 Greenchem Bangalore 679 HBR Consultants Private Limited Bangalore 10

12 680 Hi Herbs Extracts Udyoga Bangalore 681 Hi-Tech Forging (Bangalore ) Pvt. Ltd. Bangalore 682 I.C.P. (I) Private Limited Bangalore 683 K. R. Printers Bangalore 684 KEJ Minerals Pvt. Ltd. Bangalore 685 Kable first india pvt ltd Bangalore 686 Kamal Bells Bangalore 687 Kamath Transformers P. Ltd. Bangalore SE 2A 688 Lotus Powergear Private Limited Bangalore SME M.S. Metals And Steels Pvt. Ltd. Bangalore 690 M.V.R Chemicals and Oils Bangalore 691 Malnad alloy castings pvt ltd Bangalore 692 Metrology Equipments Private Limited Bangalore 693 Micro Plastics Pvt. Ltd. Bangalore 694 Micron Precision Plastics Bangalore 695 Microtex Energy Private Limited Bangalore 696 Mohan Projects Private Limited Bangalore 697 Namratha Oil Refineries Private Limited Bangalore 698 Natural Textiles Pvt. Ltd. Bangalore 699 Nie Power & Engineering (P) Ltd. Bangalore 700 Omkar Offset Printers Bangalore 701 P.S Techcom pvt ltd Bangalore 702 PKS Presstressed Bangalore 703 Palm Enterprises Bangalore 704 Poojya Containers Pvt Ltd Bangalore 705 Prajwal rice industries Bangalore SE 4C 706 Pramitha Enterprises Bangalore 707 Pratham Motors Private Limited Bangalore 708 Prime Carbonic Industries Bangalore 709 Prime Gases Bangalore 710 Proseal Closures Ltd. Bangalore 711 Pure Carbo Gases Bangalore 712 Quality Insulated Conductors Bangalore 713 RGV Telecom Private Limited Bangalore 714 RING FORGING PVT LTD Bangalore 715 Ravi Graphics Bangalore 716 S. D. T. C. Exports Pvt. Ltd. Bangalore 717 SS Fabcom India Pvt. Ltd. Bangalore 718 Samanthu Business Forms (P) Ltd. Bangalore SME Sandur Power Ltd. Bangalore SME Silkee Electronics Pvt. Ltd. Bangalore 721 Sobha Projects and Trade Private Limited Bangalore SME Sonarome Private Limited Bangalore SE 1A 723 Stonetech Diabrasive Ltd Bangalore 724 Surin Automotive Private Limited Bangalore SME Technocraft Industries Bangalore 726 Unique Punch Systems Private Limited Bangalore 727 VISTA INFOSYSTEM PVT LTD Bangalore 728 Yagachi Auto Gadgets Pvt Ltd Bangalore 729 bangalore safety glass pvt ltd Bangalore 730 evangelsoft pvt ltd Bangalore SE 4C 731 global heat treatment service pvt ltd Bangalore SE 4C 732 global printing and packaging co pvt ltd Bangalore 733 honeycomb india pvt ltd Bangalore 734 lifeline feeds india pvt ltd Bangalore 735 pradhan mercantile pvt ltd Bangalore 736 Belgaum Ferro Cast (India) Private LimitedBelgaum Durga Metal Profiles Girnar Alloys Private Limited Plusone Machinefabrik Shanti Chemical Works Divyajyoti Steels Ltd. Hothur Steels Krishna Stone Tech Private Limited Narayan Engineers Miven Mayfran Conveyors Private Ltd VSFT Quilts & Pillow Pvt. Ltd shree heat treaters and engineering Abharan Motors Private Limited Achal Cashews Pvt. Ltd. Achal Cashews Pvt. Ltd. Achal Industries Achal Industries Baliga Fishnets Dighantha Mudrana Limited Malnad Cashews Minerals (Pvt.) Ltd. Mathias Aluminium Systems Pvt. Ltd. Raj Fishmeal & Oil Co. Sindhu Plastics Sterling Foods shagil precision india Udaya Steels Darshan Packaging Nisarga Flooring Rasandik Auto Components Private Ltd Varsha Cables Pvt. Ltd. Vinyas Innovative Tech. Pvt. Ltd. pattabi enterprises Sushila Devi Centre for Professional Studies and Research KERALA Devi Wires Kanti Floor Furnishers Best Wood Industries Jothis Cones Pvt. Ltd. Bharat Bakers Dhanwanthari Herbal Products IGA Tech Industrial Electronics Pvt. Ltd. Niseema Printers & Publishers Sterling Farm Research & Services Pvt. Ltd. Mathstraman Manufacturers & Traders Pvt. Ltd. Ernakulam Benzy Food & Beverages Pvt. Ltd. Digital Mesh Softech India Pvt. Ltd. Belgaum Belgaum Belgaum Belgaum Bellary Bellary Bellary Hospet Hubli Hubli Hubli Manipal Mysore Mysore Mysore Mysore Mysore Mysore Alappuzha Alleppey Aluva Alwaye Cochin Cochin Cochin Cochin Cochin Kochi Kochi SE 2A SME 4 SME 3 SE 1A SME 5 SE 2A SE 2A Uttara Kannada SME 3 SE 2A SE 2A 782 J & A Foundations Private Limited Kochi 783 Integrated Marketing Services Kottayam 784 Jaimatha Estates Kottayam 785 PERINCHERIL RUBBERS Kottayam 786 Indees Food Industries Palakkad 787 Shree Rama Industries - Unit I Palakkad 788 Sinicon Controls (P) Ltd. Palakkad 789 Sleeves India Pvt. Ltd. Palakkad 790 Sreerama Industries (Unit-II) Palakkad 791 Sreerama Scaffold Systems Palakkad

13 Rain Concert Technologies (p) Limited Lunar Rubbers (p) Ltd Sirex Designer Tiles Toyo Rubbers Direct Publishers Molly Enterprises Poly Industries Southern Union Pharmaceuticals (Kerala) Pvt. Ltd. Sri Ayyappa Pappad Industries Sunil Catering Services Thrissur Wovens (P) Ltd. Ambigai Engg. Works Santhome Latex Enterprises MADHYA PRADESH Aru Transformers Bend Joints Pvt Ltd Bhopal Switchgears Pvt. Ltd. E. M. Electro Mechanicals Pvt. Ltd. Farmer Engineers H.K.Cotton Industries M. P. Board And Paper Mills Pvt. Ltd. Nikhil Sugar Ltd. Serman (India) Road Makers Pvt. Ltd. Vaishnav Fibre Ltd. Vinod Kumar Shukla Construction Pvt. Ltd. Navkar Impex Pvt. Ltd. Bakul Castings Pvt. Ltd. Gajra Differential Gears Pvt. Ltd. Gajra Gears Pvt. Ltd. Banmore Foam Pvt. Ltd. Chambal Dairy Products Jai Maruti Gas Cylinders Ltd. Krishna Electrical Industries Ltd. Magnum Steels Limited Precision Industrial Systems Prem Motors Pvt. Ltd. Sun Ultra Technologies Private Limited Vectus Industries Limited Aakash Namkeens Pvt. Ltd. Ambika Solvex Ltd. CMM Infraprojects Ltd. Cee Cee Power Hydraulics Pvt. Ltd. Deccan Sales And Services (P) Ltd. Eagle Seeds And Biotech Ltd. Hertz Electronics ITL Industries Limited Jash Engineering Ltd. Jash Precision Tools Ltd. Thiruvananthapuram Thodupuzha Thodupuzha Thodupuzha Thrissur Thrissur Thrissur Thrissur Thrissur Thrissur Thrissur Trichur Trivandrum Bhopal Bhopal Bhopal Bhopal Bhopal Bhopal Bhopal Bhopal Bhopal Bhopal Bhopal Chindwara Dewas Dewas Dewas Gwalior Gwalior Gwalior Gwalior Gwalior Gwalior Gwalior Gwalior Gwalior Indore Indore Indore Indore Indore Indore Indore Indore Indore Indore SE 1A SME 5 SME 3 SME 4 SME 4 SE 1A SE 2A SME Kasliwal Automotives Pvt. Ltd. Indore SME Laxmi Pipes & Fittings Pvt. Ltd. Indore SE 1C 841 Mahadhan Seeds Pvt. Ltd. Indore 842 Mahalaxmi Extrusions Indore 843 Narayan Niryat India Private Limited Indore SME Prem Textiles Indore SME Raneka Industries Ltd. Indore 846 SCC Projects Private Limited Indore 847 Sai Machine Tools Pvt. Ltd. Indore 848 Sarvottam Vegetable Oil Refinery Pvt. Ltd. Indore 849 Shree Tirupati Balajee Agro Trading Co. Pvt. Ltd. Indore 850 Shri Ameya Electricals Pvt. Ltd. Indore 851 Socrus Pharmacuticals Ltd. Indore SE 1A 852 Symbiotec Pharmalab Ltd. Indore 853 Syncom Helath Care Ltd. Indore 854 Primo Pick N Pack Ltd. Jabalpur 855 Ajay Food Products (Katni) Pvt. Ltd. Katni 856 Allied Minerals Industries Pvt. Ltd. Katni SME Mahakoshal Refrectries (P) Ltd. Katni MAHARASHTRA 858 Dhananjay Industries Ahmednagar 859 J.M.Industries Ahmednagar 860 Klassic Wheels Pvt. Ltd. Ahmednagar 861 Kontak Comforts Pvt. Ltd. Ahmednagar 862 Prabhat Dairy Pvt. Ltd. Ahmednagar 863 Siddhi CNC Pvt. Ltd. Ahmednagar 864 Siddhi Forge Pvt. Ltd. Ahmednagar 865 Valency Compounds Services Pvt. ltd. Ahmednagar 866 J. S. Cotton Industries Akola 867 Manikji Metachem Pvt Ltd Akola 868 Bhuwaneshwari Refineries Pvt. Ltd. Amravati 869 Indrajit Singh Chhabra Amravati SME Jadhao Agro Industries Pvt. Ltd. Amravati 871 Palekar Bakery Pvt. Ltd. Amravati 872 Aegis Ampoules & Vials Ltd. Aurangabad 873 Apul Hi - Tech Aurangabad 874 Aurangabad Food Industries Aurangabad 875 Dhoot Compack Ltd. Aurangabad 876 Dhoot Polyfabric Private Limited Aurangabad 877 Grind Master Machines Pvt. Ltd. Aurangabad 878 Hifield-Ag Chem India Pvt. Ltd. Aurangabad SE 2A 879 KPM Alloys & Rolling Mills Pvt. Ltd. Aurangabad 880 Maharashtra Metal Industries Pvt. Ltd. Aurangabad 881 Micro Machining Services Aurangabad 882 Numa Cast Iron Pvt. Ltd. Aurangabad 883 Omech Engineering Co. Pvt. Ltd. Aurangabad 884 Parason Machinery (India) Private Limited Aurangabad 885 Pradeep Fibres Pvt. Ltd. Aurangabad 886 Precisions Engineers Aurangabad SE 1A 887 Raja Tools Aurangabad 888 S. S. Engineering Works Aurangabad 889 SAI Enterprises Aurangabad 890 Sahyog Engineering Pvt. Ltd. Aurangabad 891 Snehal Plastic Industries Aurangabad 892 Sourabh Heat Treatments Aurangabad 893 Specialty Polyfilms (I) Pvt. Ltd. Aurangabad SME Swajit Engineering Pvt. Ltd. Aurangabad 895 Swajit Thermotreat Pvt. Ltd. Aurangabad 896 Tapadia Constructions Ltd. Aurangabad SME Tool Tech Toolings Aurangabad 898 Yeshshree Press Comps Pvt. Ltd. Aurangabad SE 1C 899 Bansal Solvents Pvt. Ltd. Beed 900 Vaidyanath Sahakari Sakhar Karkhana Ltd. Beed SME Connectwell Industries Pvt. Ltd. Dombivli SME Parasrampuria Engineers Dombivli 903 Krishna Cotton Jalgaon 904 Mahaveer Ginning And Pressing Jalgaon 905 Matoshree Ginning & Pressing Factory Jalgaon 906 Nitiraj Engineers Pvt. Ltd. Jalgaon SE 2A 907 R.K. Patel & Co. Tobacco Processors Jalgaon 12

14 908 Sachin Udyog Jalgaon 909 Sikhwal Udyog Jalgaon 910 Tirupati Fabricators Pvt. Ltd. Jalgaon 911 Vitrag Agro Industries Jalgaon 912 Abhay Cotex Pvt. Ltd. Jalna SME Bhakti Extractions Pvt. Ltd. Jalna 914 Mulchand Phulchand Krishi Udhyog Pvt. Ltd.Jalna 915 Vinodrai Engineers Pvt. Ltd Jalna 916 Allied Products Kolhapur 917 Budhale & Budhale Kolhapur 918 Budhale Engineers Pvt. Ltd. Kolhapur 919 Caspro Metal Industries Pvt. Ltd. Kolhapur SE 1A 920 Castall Industies Kolhapur 921 Ceraflux India Pvt. Ltd. Kolhapur SE 1A 922 Consolidated Eutectics (Kolhapur) Pvt. Ltd. Kolhapur 923 DN Wind Systems India Pvt. Ltd. Kolhapur 924 Indu Industries Kolhapur 925 Mantri Metallics Pvt. Ltd. Kolhapur 926 Metallurgy Collaboration Kolhapur 927 Parikh Udyog Kolhapur 928 Perfect Pins Kolhapur SE 5C 929 Polychemical Fibroplast Pvt. Ltd. Kolhapur 930 Preci Fab Engineers Kolhapur 931 Rocket Engineering Corporation Private Limited Kolhapur 932 Rushikesh Paper Mills Pvt Ltd Kolhapur 933 S. B. Reshellers Pvt. Ltd. Kolhapur SE 1A 934 S. G. Phyto Pharma Pvt. Ltd. Kolhapur 935 Sound Castings Pvt. Ltd. Kolhapur 936 Super Craft Foundary Kolhapur SE 1A 937 Versatile Engineers Kolhapur 938 3D Technopack Ltd Mumbai SME Star Galvanizers Mumbai V.Exports Mumbai 941 AKFA Gloves Industries Mumbai 942 AKRY Organics Pvt. Ltd. Mumbai SE 2A 943 ASMACS Mumbai SME Aarvi Encon Pvt. Ltd. Mumbai SME Abhishekh Organics Pvt. Ltd. Mumbai 946 Abis Exports (I) Pvt. Ltd. Mumbai SME Aeroflex Industries Ltd. Mumbai SME Aerolite Engineers Pvt. Ltd. Mumbai 949 Agarwal Industries Mumbai 950 Agarwal Petrochem Pvt. Ltd. Mumbai 951 Alankar Fabricators and Engineers Mumbai 952 Alliance Engineering Mumbai SE 2A 953 Amee Metals Pvt. Ltd. Mumbai 954 Amisha Vinyls Private Limited Mumbai 955 Ammonia Supply Mumbai 956 Anchor Mark Pvt. Ltd. Mumbai 957 Aquachem Enviro Engineers Pvt. Ltd. Mumbai SE 1A 958 Arihant Dyechem Mumbai 959 Arochem Industries Mumbai 960 Arofine Chemical Industries Mumbai 961 Arun Bros. Mumbai 962 Ashapura China Clay Mumbai 963 Ashish Life Science Pvt. Ltd. Mumbai 964 Ashtvinayak Construction Mumbai SME Associated Power Structures Pvt Ltd Mumbai SME Auto Power Mumbai 967 Automatic Electric Ltd. Mumbai 968 Autopack Machines Private Limited Mumbai 969 Avdel (India) Pvt. Ltd. Mumbai SE 1A 970 Avi Global Plast Private Limited Mumbai SME Badamia Containers Mumbai 972 Balaji Cars Private Limited Mumbai SME Balaji S. S. Sheets Pvt. Ltd. Mumbai 974 Balbir Rolling Mills Ltd. Mumbai SE 2A 975 Benzochem Lifesciences Pvt. Ltd. Mumbai 976 Bharat Chemicals Mumbai 977 Bharatiya Plastic Products Mumbai 978 Borax Morarji Ltd. Mumbai 979 Britacel Silicones Ltd. Mumbai 980 Buneesha Chem Pvt Ltd. Mumbai SE 2A 981 Canara Lighting Industries Limited Mumbai SE 1A 982 Career Avenues (I) Pvt. Ltd. Mumbai 983 Cavery Enterprises Mumbai SME Chemax Multikotes(I) Pvt. Ltd. Mumbai 985 Chemco Dyestuffs Pvt. Ltd. Mumbai 986 Chhaya Gems Mumbai 987 Core Chemicals (Mumbai) Pvt. Ltd. Mumbai 988 DSA Electro Controls Pvt. Ltd Mumbai 989 Daga Global Chemicals Ltd Mumbai 990 Deepak Diamonds Mumbai 991 Deepak Industries Mumbai 992 Devashish Infrastructure Pvt Ltd Mumbai 993 Devashish Interiors Pvt Ltd Mumbai 994 Dhiraj Industries Mumbai 995 Dima Products Mumbai 996 Dipesh Engineering Works Mumbai 997 Dynacrafts Air Controls Mumbai SE 1A 998 Dynalog India Ltd. Mumbai 999 Dynamic Flow Products Pvt. Ltd. Mumbai 1000 EMMBI Polyarns Limited Mumbai 1001 Eagle Star Industries Mumbai SE 2A 1002 Elcome Marine Services Pvt. Ltd. Mumbai 1003 Eleganza Jewellery Ltd Mumbai SME Entod Pharmaceuticals Ltd Mumbai 1005 Eric Apparel Pvt. Ltd. Mumbai SE 2A 1006 Excellent Engineering & Allied Services Pvt. Ltd. Mumbai 1007 Fab Industries Mumbai 1008 Flora Electronics Pvt Ltd Mumbai SME Four Pillars Communications Pvt Ltd Mumbai 1010 G P Offset Pvt Ltd Mumbai 1011 Geneous Paint Pvt. Ltd. Mumbai 1012 Global Energy Food Industries Mumbai 1013 Guddi Plastcon Pvt Ltd. Mumbai SE 1A 1014 HI-Point Services (India) Pvt. Ltd. Mumbai 1015 Hardware Trading Corporation Mumbai 1016 Haribhakti MRI Corporate Services Pvt. Ltd. Mumbai 1017 Harsiddha Engineering Works Mumbai 1018 High Volt Electricals Pvt Ltd Mumbai 1019 Homa Engineering Works Mumbai 1020 Home Line Products Mumbai 1021 Icem Engineering Limited Mumbai SE 1C 1022 Inmarco Industries Pvt Ltd Mumbai SE 1A 1023 Innovative Organics (100% EOU) Mumbai SE 2A 1024 Intermedia Prints Pvt Ltd Mumbai SME Jay Leela Logistics Private Limited Mumbai 1026 Jayant Printery Mumbai 1027 Jenburkt Pharmaceuticals Ltd. Mumbai SE 1A 1028 Jodhani Exports Mumbai SME Jyoti Plastic Works Pvt. Ltd. Mumbai SE 1A 1030 K. Patel Metal Industries Pvt. Ltd. Mumbai 1031 K.Sitaldas Mumbai SME K.Sitaldas & Co. Mumbai SME K.Sitaldas Fabrics Pvt Ltd Mumbai SME 3