MIRA INFORM REPORT

Report Date :

15.12.2011

IDENTIFICATION DETAILS

Name :	G. R. ENGINEERING PRIVATE LIMITED (w.e.f. 05.05.2008)
Formerly Known As :	HARIANI HOLDINGS PRIVATE LIMITED
Registered Office :	Poonam Chambers, A Wing, 2^nd Floor, Dr. A B Road, Worli, Mumbai – 400 018, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	17.10.1990
Com. Reg. No.:	11-058602
CIN No.: [Company Identification No.]	U65990MH1990PTC058602
TAN No.: [Tax Deduction & Collection Account No.]	MUMG13231B
PAN No.: [Permanent Account No.]	AAACH8828G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Importer of Process Equipment – Coded Vessels, Reactors, Columns, Pressure Vessels, Shell and Tube Exchangers, Horton Spheres, Mounded Bullets / Tanks, Piping works.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 4600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be 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.

INFORMATION PARTED BY

Name :	Mr. Manoj
Designation :	Financial Manager
Contact No.:	91-22-249600553
Date :	14.12.2011

LOCATIONS

Registered / Head Office :	Poonam Chambers, A Wing, 2^nd Floor, Dr. A B Road, Worli, Mumbai – 400 018, Maharashtra, India
Tel. No.:	91-22-2496 0551/52/53/54/55
Fax No.:	91-22-24964532
E-Mail :	grew@vsnl.com info@grengg.com
Website :	http://www.grengg.com
Regional Office :	529, Som Dut Chambers – II, 9, Bhikaji Cama Place, New Delhi – 110 066, Delhi, India
Tel. No.:	91-11-2617 0252 / 2618 6779
Fax No.:	91-11-2619 2884
E-Mail :	grdelhi@del2.vsnl.net.in
Workshop :	G-14, MIDC Industrial Area, Tarapur – 401506, Maharashtra, India
Tel. No.:	91-2525-272870 / 272970
Fax No.:	91-2525-273287
E-Mail :	grewl_tpr@vsnl.net
Shipping Division:	5A/5B, Sapana Terraces, 1^st Floor, Swatantra Path, Vasco-Da-Gama, Goa - 403802.
Tel. No.:	91-834-2512972 / 2512973
Fax No.:	91-834-2510415
E-Mail :	grgoa@grengg.com

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Daulatram Pribhadas Hariani

Designation :

Whole Time Director

Address :

401 Prabhu Kutir, Alta Mount Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

27.10.1926

Date of Appointment :

17.10.1990

Election Commission Identity Card No. :

MT / 04 / 024 / 3542566

DIN No.:

00131120

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1966PTC013582	GREW INDUSTRIES PRIVATE LIMITED	Whole-time director	22-09-66	22-09-66	Active	NO
2	U55101TN1990PLC018883	TAJ MADURAI LIMITED	Director	16-03-90	16-03-90	Active	NO
3	U65990MH1990PTC058602	G. R. ENGINEERING PRIVATE LIMITED	Whole-time director	08-05-08	17-10-90	Active	NO
4	U61100MH1990PTC058666	G R SHIPPING PRIVATE LIMITED	Director	25-10-90	25-10-90	Active	NO
5	U74210MH2004PTC019690	GRUP CONSULTING ENGINEERS PRIVATE LIMITED	Director	30-09-04	30-09-04	Amalgamated	NO
6	U45200MH2005PTC152633	G. R. INFRASTRUCTURE Private LIMITED	Director	01-08-11	13-04-05	Active	NO

Name :

Mr. Ramesh Daulatram Hariani

Designation :

Managing Director

Address :

Row House No. 3, Grand Paradi Apartment, August Kranti Marg, Mumbai – 400 036, Maharashtra, India

Date of Birth/Age :

11.10.1949

Date of Appointment :

17.10.1999

Election Commission Identity Card No. :

MT / 040 / 024 / 009562

DIN No.:

00131240

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1966PTC013582	GREW INDUSTRIES PRIVATE LIMITED	Managing director	22-09-66	22-09-66	Active	NO
2	U55101TN1990PLC018883	TAJ MADURAI LIMITED	Director	16-03-90	16-03-90	Active	NO
3	U65990MH1990PTC058602	G. R. ENGINEERING PRIVATE LIMITED	Managing director	08-05-08	17-10-90	Active	NO
4	U61100MH1990PTC058666	G R SHIPPING PRIVATE LIMITED	Director	25-10-90	25-10-90	Active	NO
5	U70200KA2003PTC032900	QUADRANT REALTORS PRIVATE LIMITED	Director	21-11-03	21-11-03	Active	NO
6	U74210MH2004PTC019690	GRUP CONSULTING ENGINEERS PRIVATE LIMITED	Director	30-09-04	30-09-04	Amalgamated	NO
7	U45200MH2005PTC152633	G. R. INFRASTRUCTURE PRIVATE LIMITED	Managing director	01-08-11	13-04-05	Active	NO
8	L55101TN1970PLC005897	ORIENTAL HOTELS LIMITED	Director	28-07-11	11-11-05	Active	NO
9	U70101KA2006PTC038505	ALL SQUARE REALTORS INDIA PRIVATE LIMITED	Director	16-02-06	16-02-06	Active	NO
10	U01403MH2008PTC177489	LEMON TREE FARMING PRIVATE LIMITED	Director	07-01-08	07-01-08	Active	NO
11	U74120MH2011PTC224014	UPPER CRUST FOODS PRIVATE LIMITED	Director	17-11-11	17-11-11	Active	NO

Name :

Mr. Shankar Shripad Shirolkar

Designation :

Director

Address :

1^st Floor, Apls Plaza, 15 Second Bhatwadi Girgaum, Mumbai – 400 004, Maharashtra, India

Date of Birth/Age :

26.12.1938

Date of Appointment :

08.05.2008

DIN No.:

01891727

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65990MH1990PTC058590	SHAUN HOLDINGS PRIVATE LIMITED	Director	01-10-98	01-10-98	-	Active	NO
2	U28920MH1966PTC013582	GREW INDUSTRIES Private LIMITED	Director	09-08-06	09-08-06	08-12-08	Active	NO
3	U65990MH1990PTC058602	G. R. ENGINEERING PRIVATE LIMITED	Director	08-05-08	08-05-08	-	Active	NO
4	U45200MH2005PTC152633	G. R. INFRASTRUCTURE Private LIMITED	Director	30-09-11	29-07-11	-	Active	NO

Name :

Mrs. Parmeshwari Daulatram Hariani

Designation :

Whole time Director

Address :

401, Pabhu Kutir, Alta Mount Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

21.08.1929

Date of Appointment :

08.05.2008

Election Commission Identity Card No. :

MT / 04 / 024 / 354255

DIN No.:

00131387

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28920MH1966PTC013582	GREW INDUSTRIES PRIVATE LIMITED	Whole-time director	22-09-66	22-09-66	Active	NO
2	U55101TN1990PLC018883	TAJ MADURAI LIMITED	Director	16-03-90	16-03-90	Active	NO
3	U61100MH1990PTC058666	G R SHIPPING PRIVATE LIMITED	Director	25-10-90	25-10-90	Active	NO
4	U45200MH2005PTC152633	G. R. INFRASTRUCTURE PRIVATE LIMITED	Director	29-09-06	29-09-06	Active	NO
5	U65990MH1990PTC058602	G. R. ENGINEERING PRIVATE LIMITED	Whole-time director	08-05-08	08-05-08	Active	NO

Name :

Mrs. Chilamilika Lalini Hariani

Designation :

Whole Time Director

Address :

Bunglow No. 3, Grand Paradi Apartment, Dadi Seth Road, Mumbai-400036, Maharashtra, India

Date of Birth/Age :

06.08.1948

Date of Appointment :

08.05.2008

DIN No.:

01844372

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65990MH1990PTC058590	SHAUN HOLDINGS PRIVATE LIMITED	Director	01-01-97	01-01-97	Active	NO
2	U45200MH2005PTC152633	G. R. INFRASTRUCTURE Private LIMITED	Director	29-09-06	29-09-06	Active	NO
3	U28920MH1966PTC013582	GREW INDUSTRIES Private LIMITED	Whole-time director	01-12-06	01-12-06	Active	NO
4	U65990MH1990PTC058602	G. R. ENGINEERING PRIVATE LIMITED	Whole-time director	08-05-08	08-05-08	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj
Designation :	Financial Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Daulatram Pribhdas Hairani	358900
Parmeshari Daulatram Hariani	446940
Daulatram P Hariani-HUF	96000
Ramesh Daulatram Hariani	2894840
Chilamilika Lalni Hariani	72000
Gope Daulatram Hariani	167520
Jay Gope Hariani	265984
Neil F Hariani	245440
Gita H Zeigelbaur	567176
Shaun Paul Zeigelbaur	160000
Master Gil Paul Zeigelbaur through Father and Natural Guardian Mr. Paul Zeigelbour	160000
Chander Pribhdas Hariani	4800
Total	5439600

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	28.79
Directors or relatives of directors	71.21
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Importer of Process Equipment – Coded Vessels, Reactors, Columns, Pressure Vessels, Shell and Tube Exchangers, Horton Spheres, Mounded Bullets / Tanks, Piping works.

Products :

ITC CODE	PRODUCTS
3541073	Fabrication of Storage and Pressure Vessels
3541013	Fabrication of Heat Exchangers
3541086	Fabrication of Columns

Imports :

Products :

Raw Material

Countries :

• China
• UAE
• Germany
• Korea

Terms :

Selling :

Credit (30 days)

Purchasing :

L/C / Credit (30 days)

GENERAL INFORMATION

Customers :

Manufacturer

No. of Employees :

200 (Approximately)

Bankers :

• Bank of Maharashtra, Worli Branch, Worli Naka, Mumbai-400018, Maharashtra, India
• Union Bank of India
• Corporation Bank
• ICICI Bank Limited
• Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India
• The Hongkong And Shanghai Banking Corporation Limited, 52/60 Mahatma Gandhi Road, Fort, Mumbai-400001, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Banks
Cash Credits	91.721	15.970
Term Loan	0.000	52.824
Buyers Credit	110.728	160.902
Total	202.449	229.696
Note: 1. Cash credits and buyers are secured by way of hypothecation of stocks and receivables and collaterally secured by equitable mortgage of land and factory building and hypothecation of plant and machinery at Tarapur works ranking pari passu with consortium banks and guaranteed by two directors. 2. Amount repayable within one year Rs. 110.727 millions (previous year Rs. 196.285 Millions)
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Directors	32.039	5.200
Advances From Customers	638.454	719.122
From Banks Buyers Credit	0.000	150.933
Total	670.493	875.255

Banking Relations :	--
Auditors :
Name :	Jitendra Sanghvi and Company Chartered Accountants
Address :	405, Churchgate Chambers, 5, New Marine Lines, Mumbai – 400 020, Maharashtra, India
Tel. No.:	91-22-22625000
Fax No.:	91-22-22625010
E-Mail :	jsco@jitendrasanghavi.com
Other Related Parties :	Grew Industries Private Limited G. R. Steel and Alloys Private Limited G. R. Shipping Private Limited Shaun Holdings Private Limited Taj Madurai Limited G. R. Investments G.R. Infrastructure Private Limited Line of Business: Hiring of Cranes Grow India Private Limited Line of Business: Real Estate

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5439600	Equity Shares	Rs.10/- each	Rs.54.396 Millions

Note:

1. Nil Equity shares of Rs.10/- each stood cancelled without any payment to the shareholders pursuant to the scheme of arrangement for demerger of engineering undertaking sanctioned by the high court of judicature, Bombay

2. Nil Equity share of Rs.10/- each were issued pursuant to the scheme of arrangement with Grew Industries Private Limited (Previously known as G. R. Engineering Works Limited) for demerger of their engineering undertaking sanctioned by the high court of judicature, Bombay

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		54.396	54.396	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1109.264	947.650	0.059
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1163.660	1002.046	0.159
LOAN FUNDS
1] Secured Loans		202.449	229.696	0.000
2] Unsecured Loans		670.493	875.255	0.762
TOTAL BORROWING		872.942	1104.951	0.762
DEFERRED TAX LIABILITIES		12.166	0.000	0.000
DEFERRED PAYMENT CREDITS		18.721	23.353	0.000
TOTAL		2067.489	2130.350	0.921
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		493.566	222.510	0.000
Capital work-in-progress		13.833	120.018	0.000
INVESTMENT		341.581	0.721	0.143
DEFERREX TAX ASSETS		0.000	1.335	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	491.089	947.453	0.000
	Sundry Debtors	531.239	597.373	0.000
	Cash & Bank Balances	165.558	126.496	0.006
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	779.429	603.166	0.004
Total Current Assets		1967.315	2274.488	0.010
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	505.293	348.520	0.001
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	243.995	140.841	0.005
Total Current Liabilities		749.288	489.361	0.006
Net Current Assets		1218.027	1785.127	0.004
MISCELLANEOUS EXPENSES		0.482	0.639	0.774
TOTAL		2067.489	2130.350	0.921

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	3040.107	2084.537	0.000
		Other Income	51.287	14.525	0.008
		TOTAL (A)	3091.394	2099.062	0.008
Less	EXPENSES
		Office Expenses	2663.789	1815.125	0.003
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	2663.789	1815.125	0.003
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		427.605	283.937	0.005
Less	FINANCIAL EXPENSES (D)		24.718	38.201	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		402.887	245.736	0.005
Less/ Add	DEPRECIATION/ AMORTISATION (F)		62.272	29.555	0.000
	PROFIT BEFORE TAX (E-F) (G)		340.615	216.181	0.005
Less	TAX (H)		115.570	75.577	0.000
	PROFIT AFTER TAX (G-H) (I)		225.045	140.604	0.005
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		55.024	0.060	0.055
Less	APPROPRIATIONS
		Interim dividend	0.000	54.396	NA
		Proposed dividend </