MIRA INFORM REPORT

Report Date :

19.09.2011

IDENTIFICATION DETAILS

Name :	GUPTA COAL INDIA LIMITED
Formerly Known As :	GUPTA COAL SERVICES PRIVATE LIMITED
Registered Office :	Shriram Towers, 7^th Floor, Kingsway, S.V. Patel Marg, Nagpur – 440 001, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	05.05.1989
Com. Reg. No.:	11-51640
Capital Investment / Paid-up Capital :	Rs.69.246 millions
CIN No.: [Company Identification No.]	U51909MH1989PLC051640
TAN No.: [Tax Deduction & Collection Account No.]	NGPG00507D
PAN No.: [Permanent Account No.]	AAACG4587B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Supplier of Coal.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 6400000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track. Financial position of the company appears to be goods. Fundamentals are strong and healthy. Business is active. Payments are reported to be regular. The company can be considered good for normal 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered/ Admin Office :	Shriram Towers, 7^th Floor, Kingsway, S.V. Patel Marg, Nagpur – 440 001, Maharashtra, India
Tel. No.:	91-712-6603300 / 6613651 / 6613702
Fax No.:	91-712-6613702 / 6647144
E-Mail :	guptas_ngp@sancharnet.in rkt@guptacorporation.com ramantekriwal@hotmail.com
Website :	http://www.guptacoal.com http://www.guptacorporation.com
Corporate Office :	Gupta Tower, 5^th Floor, Temple Road, Opposite Science Collage Ground, Civil Lines, Nagpur – 440001, India
Tel No.:	91-712-6647141 / 42 / 43
Fax N.:	91-712-6647144
E-Mail :	guptas_ngp@sancharnet.in
Branch Office :	Located At: · Chandrapur · Bhopal · Surat · Chennai · Bellary
Washeries :	Located at: · Majri  · Wani  · Ghuggus · Sasti  · Pimpalgaon  · Gondegaon  · Ramagundam  · IB Valley

DIRECTORS

(AS ON 25.09.2010)

Name :

Mr. Padmesh Deodutta Gupta

Designation :

Director

Address :

Hari-Nikunj, House No. 190, Museum Road, Civil Lines, Nagpur – 440001, Maharashtra, India

Date of Birth/Age :

29.02.1964

Date of Appointment :

05.05.1989

DIN No. :

00263859

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	U51909MH1989PLC051640	GUPTA COAL INDIA LIMITED	Director	5/5/1989	5/5/1989	-	Active	NO
2	U65910MH1994PLC076739	GUPTA LEASING AND FINANCE LTD	Director	22/02/1994	22/02/1994	1/8/2011	Active	NO
3	U99999MH1994PLC082316	INDO-KRISHNA GREEN FIELDS LIMITED	Director	24/10/1994	24/10/1994	1/8/2011	Active	NO
4	U45200MH1996PTC101141	Gupta Infra Project Developers Private Limited	Director	4/10/2000	4/10/2000	18/08/2011	Active	NO
5	U10100MH2001PLC130464	GUPTA GLOBAL RESOURCES LIMITED	Managing director	1/10/2010	15/01/2001	-	Active	NO
6	U10102DL2002PTC116287	AP COAL WASHERIES PRIVATE LIMITED	Director	22/07/2002	22/07/2002	-	Active	NO
7	U45203MH2002PTC137098	GUPTA INFRATEC PRIVATE LIMITED	Director	18/07/2005	5/9/2002	-	Active	NO
8	U24292CT1999PLC013364	MARUTI CLEAN COAL AND POWER LIMITED	Director	9/9/2002	9/9/2002	-	Active	NO
9	U10200MH2003PTC140830	UNITED COAL WASHRIES PRIVATE LIMITED	Director	10/6/2003	10/6/2003	-	Amalgamated	NO
10	U40100MH2005PTC154038	GUPTA CORPORATION Private Limited	Director	17/06/2005	17/06/2005	-	Active	NO
11	U40100MH2005PLC156213	MAHARASHTRA VIDHYUT NIGAM LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
12	U27101MH2005PTC156270	GUPTA INDUSTRIES PRIVATE LIMITED	Director	22/09/2005	22/09/2005	-	Active	NO
13	U45200MH2005PTC157219	GUPTA INFRASTRUCTUR ( INDIA ) PRIVATE LIMITED	Director	9/11/2005	9/11/2005	-	Active	NO
14	U23109OR2002PLC006906	EARTH MINERALS COMPANY LIMITED	Director	18/02/2006	18/02/2006	-	Active	NO
15	U74999DL2002PTC115574	MONNET DANIELS COAL WASHERIES PRIVATE LIMITED	Director	20/03/2006	20/03/2006	-	Active	NO
16	U40106CT2003PLC015560	CHHATTISGARH POWER AND COAL BENEFICIATION LIMITED	Director	30/09/2006	22/03/2006	-	Active	NO
17	U51109WB1995PTC069628	TASMSEEN COMMERCIAL PVT.LTD.	Director	20/07/2006	20/07/2006	18/08/2011	Active	NO
18	U63011MH2006PLC164369	Nagpur Sical Gupta Logistics Limited	Director	6/9/2006	6/9/2006	-	Active	NO
19	U45202MH2007PLC169997	NAGPUR SICAL GUPTA ROAD TERMINAL LIMITED	Director	16/04/2007	16/04/2007	-	Active	NO
20	U51909WB2004PTC098061	MANASI COMMODITIES PRIVATE LIMITED	Director	8/5/2007	8/5/2007	18/08/2011	Active	NO
21	U40102MH2007PLC175497	GUPTA ENERGY LIMITED	Director	30/10/2007	30/10/2007	-	Active	NO
22	U70102MH2007PTC177054	GUPTA REALINFRA VENTURES PRIVATE LIMITED	Director	24/12/2007	24/12/2007	-	Active	NO
23	U63090MH2007PTC177038	GUPTA LOGISTICS PRIVATE LIMITED	Director	24/12/2007	24/12/2007	12/5/2009	Active	NO
24	U40109MH2008PTC177211	GUPTA POWER HOUSE PRIVATE LIMITED	Director	1/1/2008	1/1/2008	-	Active	NO
25	U14290MH2008PTC177392	GUPTA NATURAL RESOURCE VENTURES PRIVATE LIMITED	Director	5/1/2008	5/1/2008	5/8/2011	Active	NO
26	U10100MH2008PTC177715	WANI COALFIELDS PRIVATE LIMITED	Director	11/1/2008	11/1/2008	-	Active	NO
27	U45203MH2008PTC179951	NAGPUR HIGHWAY INFRACONS PRIVATE LIMITED	Director	11/3/2008	11/3/2008	5/8/2011	Active	NO
28	U26900MH2008PTC187201	CISC GUPTA MINES & MINERALS PRIVATE LIMITED	Director	30/09/2008	30/09/2008	-	Active	NO
29	U72200MH2000PLC128681	OCEAN WIND ENERGY SYSTEMS LIMITED	Director	30/09/2009	17/10/2008	18/08/2011	Active	NO
30	U51420WB2004PTC098176	SAPHIRE STEEL PRIVATE LIMITED	Director	14/11/2008	14/11/2008	16/03/2010	Active	NO
31	U40105MH2009PTC193717	VIBRANT GLOBAL VIDYUT PRIVATE LIMITED	Director	1/7/2009	1/7/2009	13/11/2010	Active	NO
32	U52322WB2004PTC100484	RASIKA GARMENTS PRIVATE LIMITED	Director	8/4/2010	8/4/2010	18/08/2011	Active	NO
33	U74900CT2010PLC021772	CHHATTISGARH MALL MANAGEMENT LIMITED	Director	27/04/2010	27/04/2010	-	Active	NO
34	U51109WB1983PTC036005	JAY AAR COMMERCIAL PVT LTD	Director	12/5/2010	12/5/2010	-	Active	NO
35	U14100MH2010SGC205717	MSMC WARORA COLLIERIES LIMITED	Nominee director	20/07/2010	20/07/2010	-	Active	NO
36	U40300MH2011PTC211726	GUPTA URJA NIGAM PRIVATE LIMITED	Director	3/1/2011	3/1/2011	5/8/2011	Active	NO
37	U63090MH2010PTC209882	CENIN TOURS & TRAVELS COMPANY PRIVATE LIMITED	Additional director	10/2/2011	10/2/2011	-	Active	NO
38	U23109WB2011PTC165034	ALLIANCE COKE CALCINER PRIVATE LIMITED	Director	18/07/2011	18/07/2011	-	Active	NO
39	U37100MH2011PTC221997	GUPTA VECOR INDIA PRIVATE LIMITED	Director	14/09/2011	14/09/2011	-	Active	NO

Name :

Mr. Piyush Marodia

Designation :

Director

Address :

Hari-Nikunj, House No. 190, Museum Road, Civil Lines, Nagpur – 440001, Maharashtra, India

Date of Birth/Age :

18.08.1984

Date of Appointment :

17.05.2007

DIN No. :

01730162

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	U10100MH2001PLC130464	GUPTA GLOBAL RESOURCES LIMITED	Director	29/09/2007	17/05/2007	-	Active	NO
2	U51909MH1989PLC051640	GUPTA COAL INDIA LIMITED	Director	29/09/2007	17/05/2007	-	Active	NO
3	U10100MH2008PTC177715	WANI COALFIELDS PRIVATE LIMITED	Director	11/1/2008	11/1/2008	-	Active	NO
4	U45203MH2008PTC178136	RAGHAV BUILDMAT PRIVATE LIMITED	Additional director	28/08/2009	22/01/2008	-	Active	NO
5	U24292CT1999PLC013364	MARUTI CLEAN COAL AND POWER LIMITED	Director	30/09/2008	4/4/2008	16/02/2009	Active	NO
6	U40102MH2007PLC175497	GUPTA ENERGY LIMITED	Director	25/09/2008	18/07/2008	-	Active	NO
7	U99999MH1994PLC082316	INDO-KRISHNA GREEN FIELDS LIMITED	Additional director	3/6/2009	3/6/2009	-	Active	NO
8	U45203MH2008PTC179951	NAGPUR HIGHWAY INFRACONS PRIVATE LIMITED	Director	28/09/2009	3/6/2009	-	Active	NO
9	U51909WB2004PTC098061	MANASI COMMODITIES PRIVATE LIMITED	Director	24/09/2009	3/6/2009	-	Active	NO
10	U51420WB2004PTC098176	SAPHIRE STEEL PRIVATE LIMITED	Director	29/09/2009	3/6/2009	16/03/2010	Active	NO
11	U40100MH2005PTC154038	GUPTA CORPORATION Private Limited	Additional director	4/6/2009	4/6/2009	-	Active	NO
12	U65910MH1994PLC076739	GUPTA LEASING AND FINANCE LTD	Additional director	4/6/2009	4/6/2009	-	Active	NO
13	U45203MH2002PTC137098	GUPTA INFRATEC PRIVATE LIMITED	Director	15/09/2009	4/6/2009	-	Active	NO
14	U51109WB1995PTC069628	TASMSEEN COMMERCIAL PVT.LTD.	Director	26/09/2009	5/6/2009	-	Active	NO
15	U45200MH1996PTC101141	Gupta Infra Project Developers Private Limited	Director	26/09/2009	5/6/2009	-	Active	NO
16	U40109MH2008PTC177211	GUPTA POWER HOUSE PRIVATE LIMITED	Director	29/09/2009	15/07/2009	-	Active	NO
17	U14290MH2008PTC177392	GUPTA NATURAL RESOURCE VENTURES PRIVATE LIMITED	Director	25/09/2009	15/07/2009	-	Active	NO
18	U70102MH2007PTC177054	GUPTA REALINFRA VENTURES PRIVATE LIMITED	Director	24/09/2009	16/07/2009	-	Active	NO
19	U52322WB2004PTC100484	RASIKA GARMENTS PRIVATE LIMITED	Director	8/4/2010	8/4/2010	-	Active	NO
20	U40100MH2005PLC156213	MAHARASHTRA VIDHYUT NIGAM LIMITED	Director	14/08/2010	9/4/2010	-	Active	NO
21	U45200MH2005PTC157219	GUPTA INFRASTRUCTUR ( INDIA ) PRIVATE LIMITED	Additional director	14/04/2010	14/04/2010	-	Active	NO
22	U23109OR2002PLC006906	EARTH MINERALS COMPANY LIMITED	Director	30/09/2010	22/04/2010	-	Active	NO
23	U74900CT2010PLC021772	CHHATTISGARH MALL MANAGEMENT LIMITED	Director	27/04/2010	27/04/2010	-	Active	NO
24	U51109WB1983PTC036005	JAY AAR COMMERCIAL PVT LTD	Director	12/5/2010	12/5/2010	-	Active	NO
25	U51909WB2008PTC124310	SURYODAY VANIJYA PRIVATE LIMITED	Director	16/08/2010	16/08/2010	-	Active	NO
26	U52100WB2007PTC116266	SARSWATI COMMODITIES PRIVATE LIMITED	Director	28/08/2010	28/08/2010	-	Active	NO
27	U51909WB2007PTC118233	DHIRENDRA MERCHANTS PRIVATE LIMITED	Director	28/08/2010	28/08/2010	-	Active	NO
28	U51909WB2008PTC124080	EASTERN DEALCOM PRIVATE LIMITED	Director	22/09/2010	22/09/2010	-	Active	NO
29	U51109WB2007PTC119324	MANGAL DEEP SALES PRIVATE LIMITED	Director	24/09/2010	24/09/2010	-	Active	NO
30	U40300MH2011PTC211726	GUPTA URJA NIGAM PRIVATE LIMITED	Director	3/1/2011	3/1/2011	-	Active	NO

Name :

Mr. Anurag Gupta

Designation :

Additional Director

Address :

Hari-Nikunj, House No. 190, Museum Road, Civil Lines, Nagpur – 440001, Maharashtra, India

Date of Birth/Age :

10.10.1989

Date of Appointment :

23.01.2010

DIN :

02913808

Other Directorship :

Top of Form S.No. Bottom of Form	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 Top of Form
Top of Form 1 Bottom of Form	U10100MH2001PLC130464	GUPTA GLOBAL RESOURCES LIMITED	Additional director	23/01/2010	23/01/2010	-	Active	NO
2	U99999MH1994PLC082316	INDO-KRISHNA GREEN FIELDS LIMITED	Additional director	23/01/2010	23/01/2010	20/06/2011	Active	NO
3	U65910MH1994PLC076739	GUPTA LEASING AND FINANCE LTD	Additional director	23/01/2010	23/01/2010	20/06/2011	Active	NO
4	U40100MH2005PTC154038	GUPTA CORPORATION Private Limited	Additional director	23/01/2010	23/01/2010	24/06/2011	Active	NO
5	U51909MH1989PLC051640	GUPTA COAL INDIA LIMITED	Director	25/09/2010	23/01/2010	18/08/2011	Active	NO
6	U74900CT2010PLC021772	CHHATTISGARH MALL MANAGEMENT LIMITED	Director	27/04/2010	27/04/2010	1/4/2011	Active	NO
7	U40102MH2007PLC175497	GUPTA ENERGY LIMITED	Director	29/09/2010	9/8/2010	1/4/2011	Active	NO Bottom of Form

Name :

Mr. Ramakant Tekriwal

Designation :

Director

Address :

30 Byramji Town, Nelson Suqre, Katol Road, Nagpur – 440 013, Maharashtra, India

Date of Birth/Age :

01.04.1974

Date of Appointment :

20.05.2010

DIN :

00275872

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 Top of Form
1	U72200MH2000PLC128681	OCEAN WIND ENERGY SYSTEMS LIMITED	Director	12/9/2000	12/9/2000	Active	NO
2	U27300MH1985PTC036131	Tensile Wires (India) Private Limited	Director	7/8/2002	7/8/2002	Active	NO
3	U10200MH2003PTC140830	UNITED COAL WASHRIES PRIVATE LIMITED	Director	1/10/2004	1/10/2004	Amalgamated	NO
4	U10100MH2001PLC130464	GUPTA GLOBAL RESOURCES LIMITED	Director	29/09/2007	25/01/2007	Active	NO
5	U70100MH1998PTC113912	PREM TRUPTI BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	14/02/2007	14/02/2007	Active	NO
6	U51420WB2004PTC098176	SAPHIRE STEEL PRIVATE LIMITED	Additional director	16/03/2010	16/03/2010	Active	NO
7	U51909MH1989PLC051640	GUPTA COAL INDIA LIMITED	Director	25/09/2010	20/05/2010	Active	NO
8	U40102MH2007PLC175497	GUPTA ENERGY LIMITED	Director	29/09/2010	25/05/2010	Active	NO
9	U40100MH2005PTC154038	GUPTA CORPORATION Private Limited	Additional director	16/08/2010	16/08/2010	Active	NO
10	U74900CT2010PLC021772	CHHATTISGARH MALL MANAGEMENT LIMITED	Director appointed in casual vacancy	1/4/2011	1/4/2011	Active	NO
11	U65910MH1994PLC076739	GUPTA LEASING AND FINANCE LTD	Additional director	20/06/2011	20/06/2011	Active	NO
12	U99999MH1994PLC082316	INDO-KRISHNA GREEN FIELDS LIMITED	Additional director	20/06/2011	20/06/2011	Active	NO
13	U23109WB2011PTC165034	ALLIANCE COKE CALCINER PRIVATE LIMITED	Director	18/07/2011	18/07/2011	Active	NO Bottom of Form

KEY EXECUTIVES

Name :	Mr. Prashant Boyar
Designation :	System Controller

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 25.09.2010)

Names of Shareholders	No. of Shares
Deodutta Gupta	10365
Mukesh Gupta	5375
Padmesh Deodutta Gupta	69267
Shyamadevi Gupta	5200
Mahesh Gupta	11930
Anuradha Padmesh Gupta	53800
Vinita Gupta	2145
Seema Gupta	4250
Anurag Gupta	630
Aditya Gupta	640
Kaustubh Gupta	580
Priya Gupta	50
Vatsal Gupta	580
Vishnupriya Gupta	50
Kunjan Gupta	290
Padmesh Gupta (HUF)	16300
Radhika Gupta	280
Srivats Gupta	410
Mahadeoprasad Gupta (HUF)	2000
Gupta Leasing and Finance Limited	89750
Indo – Krishna Green Field Limited	13950
Tasmseen Commercial Private Limited	34400
Manasi Commodities Private Limited	41000
Gupta Corporation Limited	310715
Saphire Steel Private Limited	3500
Gupta Natural Resource Ventures Private Limited	15000
Total	692457

(AS ON 25.09.2010)

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	73.41
Directors or relatives of directors	26.59
Total	100.00

BUSINESS DETAILS

Line of Business :

Supplier of Coal.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· UCO Bank

Sitabuldi Branch, Nagpur – 440012, Maharashtra, India

· State Bank of India

Industrial Finance Branch, 5 Sai Complex, Amravati Road, Nagpur – 440 033, Maharashtra, India

Facilities :

Secured Loans	As on 31.03.2010 Rs. in millions	As on 31.03.2009 Rs. in millions
Term Loan From Financial Institutions and Bank
Rupee Term Loan	35.487	7.097
Vehicle Loans	4.992	1.824
Working Capital Loans from Banks	733.861	368.119
Total	774.340	377.040

Unsecured Loans	As on 31.03.2010 Rs. in millions	As on 31.03.2009 Rs. in millions
From Others	120.230	43.980
Total	120.230	43.980

Banking Relations :	Fair
Financial Institutions :	Sundaram Finance Limited 21, Patullos Road, Chennai – 600002, Tamilnadu, India
Auditors :
Name :	Banthia Damani and Associates Chartered Accountants
Address :	SO-8, Amarjyoti Palace, Dhantoli, Wardha Road, Nagpur – 440 012, Maharashtra, India
Associates :	· Gupta Coalfields and Washeries Limited · Gupta Leasing and Finance Limited · Gupta Infraproject Developers Private Limited · Maruti Clean Coal and Power Limited · A P Coal Washeries Private Limited · Gupta Energy Private Limited · P D Gupta Enterprises · Gupta Industries Private Limited · Maharashtra Vidyut Nigam Limited · Gupta Infratech Private Limited · Osho Sa Coal Pte. Limited · P T Gupta Coal International · CISC Gupta Mines and Minerals Private Limited · Gupta Logistics Private Limited · Gupta Corporation Limited · Nagpur Sical Gupta Logistics Limited · Nagpur Sical Gupta Road Terminal Limited · Tata Projects Limited · China Ship building and Trading Company Limited, China · Nanjing Turbine and Electric Machinery Company Limited, China · Sokeo Power Consultants Private Limited, (An Indian arm of Soleo Resources LLC, USA) · MN Dastur and Company Private Limited · HIQ Power Associates Private Limited
Subsidiaries :	· Gupta Infrastructur (India) Private Limited CIN No.: U45200MH2005PTC157219 · Gupta Natural Resource Ventures Private Limited CIN No.: U14290MH2008PTC177392 · Gupta Global Natural Resource Pte. Limited
Holding Company :	Gupta Natural Resource Ventures Private Limited CIN No.: U14290MH2008PTC177392

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.100/- each	Rs.100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
692,457	Equity Shares	Rs.100/- each	Rs.69.246 millions

As on 25.09.2010

Authorised Capital : Rs.300.000 millions

Issued, Subscribed & Paid-up Capital : Rs.297.928 millions

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		69.246	44.246	44.246
2] Share Application Money		220.040	0.000	0.000
3] Reserves & Surplus		1318.025	830.055	546.670
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1607.311	874.301	590.916
LOAN FUNDS
1] Secured Loans		774.340	377.040	569.164
2] Unsecured Loans		120.230	43.980	10.769
TOTAL BORROWING		894.570	421.020	579.933
DEFERRED TAX LIABILITIES		31.133	36.247	36.786
TOTAL		2533.014	1331.568	1207.635
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		189.996	196.146	211.563
Capital work-in-progress		252.609	137.171	0.163
INVESTMENT		152.384	30.790	136.875
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1628.367	564.752	168.047
	Sundry Debtors	1272.251	633.096	667.748
	Cash & Bank Balances	485.646	158.634	97.688
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1822.320	934.126	271.245
Total Current Assets		5208.584	2290.608	1204.728
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2344.793	1035.930	127.782
	Other Current Liabilities	767.016	78.903	102.697
	Provisions	167.883	208.887	116.360
Total Current Liabilities		3279.692	1323.720	346.839
Net Current Assets		1928.892	966.888	857.889
MISCELLANEOUS EXPENSES		9.133	0.573	1.145
TOTAL		2533.014	1331.568	1207.635

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	9933.836	6168.645	3737.891
		Other Income	13.229	25.679	16.473
		TOTAL (A)	9947.065	6194.324	3754.364
Less	EXPENSES
		Cost of Goods Sold	8005.794	4575.482	2624.054
		Operating Expenses	1230.747	862.652	662.112
		Personnel	19.922	12.062	7.768
		Administrative & Other Expenses	125.309	182.950	52.093
		Prior Period Adjustment (Net)	(0.079)	(27.716)	(2.285)
		TOTAL (B)	9381.693	5605.430	3343.742
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		565.372	588.894	410.622
Less	FINANCIAL EXPENSES (D)		134.378	107.538	92.467
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		430.994	481.356	318.155
Less/ Add	DEPRECIATION/ AMORTISATION (F)		12.958	16.340	16.015
	PROFIT BEFORE TAX (E-F) (G)		418.036	465.016	302.140
Less	TAX (H)		149.887	172.610	104.793
	PROFIT AFTER TAX (G-H) (I)		268.149	292.406	197.347
Less	Income Tax (Earlier Year)		5.180	9.021	11.322
	Transfer to General reserve		262.969	283.385	186.025
	IMPORTS		5291.431	1460.310	Nil
	Earnings Per Share (Rs.)		387.24	660.87	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.70	4.72	5.26
Net Profit Margin (PBT/Sales)	(%)	4.21	7.54	8.08
Return on Total Assets (PBT/Total Assets}	(%)	7.74	18.70	21.33
Return on Investment (ROI) (PBT/Networth)		0.26	0.53	0.51
Debt Equity Ratio (Total Liability/Networth)		2.60	2.00	1.57
Current Ratio (Current Asset/Current Liability)		1.59	1.73	3.47

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATIONS:

The Company during the year continued to procure coal from domestic markets as well as from e-auctions conducted by Coal India Limited. The company also imported coal for sale to core and non - core industries. Besides this, the company has beer providing coal handling, transportation and liasoning services to various end consumers involving movement of coal from mines to the consumers, managing the logistics enroots and quality verification and has been ensuring that the required quality and quantity of coal is delivered to the consumers on time.

The Company's income from operations during the year increased by 61% to Rs.9933.900 millions as against Rs.6168.700 millions in the corresponding previous financial year. The total expenditure during the year was Rs.9529.100 millions as against Rs.5757.000 millions in the corresponding period of previous year. The increase in expenditure is attributed to import of coal on a large scale, operating expenses and financial charges. The Company's net profit after tax during the year after providing for income tax of earlier year stood at Rs.263.000 millions as against Rs.283.400 millions achieved in the previous year resulting in a marginal decline in the profits due to the recessionary trend prevailing in the market.

The year of 2009-10 was a good beginning for imported coal business. During the financial year the company purchased around 2 million tons (valued at Rs.4500 millions) non coking steam coal from South Africa and Indonesia and the sale was around Rs.5600.000 millions approximately. The company is targeting to import 6 million tons coal in the current financial year, add new end users to its Customer List and record another milestone in its imported and indigenous coal business.

The Company is also participating in various tenders like MAHAGENCO, KPCL, Damodar Valley Corporation, Bharat Oman Refineries Limited (BORL) etc. and has been awarded tender of KPCL (Karnataka Power Corporation Limited) and BORL (Bharat Oman Refineries Limited) for supply of imported coal quantity of 9 Lakh mts and 2 Lakh mts respectively. The Company is in the final stage of acquiring coal mines with huge reserves of non coking coal in South Africa in association with Mls Osho Ventures, South Africa. The Company has geared up its business of importing coal to fulfill the huge demand of a rapidly growing economy.

The Directors trust that the shareholders will find the performance of the company, for the financial year 2010, to their satisfaction. The Company will continue to focus on efficiency enhancement to further improve upon the earnings.

FUTURE PLANS

The company has initiated a plan to set up coal yards in various parts of the country from where the required quality and quantity of coal will be supplied to the customers. Adequate quantity of coal will be stocked in the coal yards through a fleet of trucks and the railway network. The company currentIy has stock yards at Surat, Bhopal, Dewas, Kota and Gwalior with a combined capacity to stock 1 lacs metric tones of cod. The company has plans to setup new stock yard / stock points near the railway yards and Indian ports for managing inward as well as outward transportation at minimum logistics cost. To meet the target set for imported coal, the company has made long term arrangements with reputed coal mines in Indonesia, South Africa and Australia.

CONTINGENT LIABILITIES

· Corporate guarantee given on behalf of Gupla Coalfields and Washeries Limited, a sister concern to State Bank of. India, Axis Bank, IDFC Bank Limited, Export Impart Bank of lndia and L and T lnfrastnrdure Fipance Company Limited, towards Cash Credit, Term Loan and Bank Guarantee amounting Rs.3617.700 millions.

· Corporate guarantee given on behalf of Gupta Infrastructure Private Limiteda Subsidiary company, to Bank of Baroda and Union Bank Of India, towards Bank Guarantee and Term Loan amounting la Rs.1057.000 millions.

· Corporate guarantee given on behalf of Earth Minerals Limited, an associate concern, to Bank of India, towards Cash Credit, Term loan and Bank Guarantee amounting to Rs.367.100 millions.

· Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.930 millions.

· Letter of credit and Bank Guarantee outstanding: 1723.400 millions.

Bankers Charges Report as per Registry

Corporate identity number of the company

U51909MH1989PLC051640

Name of the company

GUPTA COAL INDIA LIMITED

Address of the registered office or of the principal place of business in India of the company

Shriram Towers, 7^th Floor, Kingsway, S.V. Patel Marg, Nagpur – 440 001, Maharashtra, India

This form is for

Modification of charge

Type of charge

Immovable property

Particular of charge holder

State Bank of India

Industrial Finance Branch, 5 Sai Complex, Amravati Road, Nagpur – 440 033, Maharashtra, India

Nature of description of the instrument creating or modifying the charge

Memorandum for recording extension of mortgage by deposit of title deeds covering enhanced limits and/ or creation of equitable mortgage on additional properties for existing limits and enhanced limits and additional facilities.

Date of instrument Creating the charge

07.05.2011

Amount secured by the charge

Rs.2470.000 millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of interest

Not Applicable : As The Properties of The company is given as a security to the credit facilities given to the Gupta Coalfields and Washeries Limited

Terms of repayment

Not Applicable : As The Properties of The company is given as a security to the credit facilities given to the Gupta Coalfields and Washeries Limited

Margin

Not Applicable : As The Properties of The company is given as a security to the credit facilities given to the Gupta Coalfields and Washeries Limited

Extent and operation of the charge

First pari- passu charge on the properties for State Bank of India and Axis Bank Limited

Short particulars of the property charged

All that piece and parcel of land bearing Khasra No.101/3 of Mouza Sitabuldi, adm 5466.20 sq. meters together with the entire r.c.c. superstructure comprising office block no 602 full

And part of office block no. 601 and 603. covering total built up area of 791.88 sq. meters.

Particulars of the present modification

Due to Rs.350.000 millions fresh line of credit sanctioned by Axis Bank, the charge amount was enhanced to Rs.2470.000 millions

(Rs. in millions)

	Working Capital	Term Loans
State Bank Of India	1020.000	420.000
Axis Bank	680.000
Axis Bank	350.000
Total	2050.000	420.000

Total Amount Secured Rs.2470.000 millions

FIXED ASSETS

· Land

· Shed and Building

· Ownership Premises

· Plant and Machinery

· Computers

· Furniture and Electrical Fittings

· Air Conditioner

· Office Equipments

· Vehicles

· Lorries (Tippers)

· Wind Mill

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
US Dollar	1	Rs.47.46
UK Pound	1	Rs.74.95
Euro	1	Rs.65.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		64

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 capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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.