1. Summary Information

		Country	India
Company Name	GEA BGR Energy System India Limited	Principal Name 1	Mr. Balakrishnan G. Raghupathy
Status	Satisfactory	Principal Name 2	Mrs. Sasikala Raghupathy
		Registration #	18-064141
Street Address	New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018, Tamilnadu, India
Established Date	28.06.2007	SIC Code	--
Telephone#	91-44-24326171/ 27900181/ 27948549	Business Style 1	Supplier
Fax #	91-44-24364656/ 27948249	Business Style 2	--
Homepage	http://www.bgrcorp.com	Product Name 1	Tube Cleaning System and Debris Filter on turnkey basis for Power and Desalination Plants worldwide
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.50,500,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors- 99.76% Other top fifty shareholders- 0.24%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	5 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (48)
Related Company
Relation	Country	Company Name	CEO
Related Parties :	--	BGR Energy Systems Limited	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	582,765,000	Current Liabilities	276,482,000
Inventories	150,348,000	Long-term Liabilities	230,014,000
Fixed Assets	27,266,000	Other Liabilities	95,712,000
Deferred Assets	0.000	Total Liabilities	602,208,000
Invest& other Assets	12,274,000	Retained Earnings	119,884,000
	0	Net Worth	170,445,000
Total Assets	772,653,000	Total Liab. & Equity	772,653,000
Total Assets (Previous Year)	721,426,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	707,044,000	Net Profit	66,842,000
Sales(Previous yr)	553,962,000	Net Profit(Prev.yr)	42,357,000

MIRA INFORM REPORT

Report Date :

27.07.2012

IDENTIFICATION DETAILS

Name :	GEA BGR ENERGY SYSTEM INDIA LIMITED
Registered Office :	New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.06.2007
Com. Reg. No.:	18-064141
Capital Investment / Paid-up Capital :	Rs.50.500 Millions
CIN No.: [Company Identification No.]	U40105TN2007PLC064141
TAN No.: [Tax Deduction & Collection Account No.]	CHEG08678F
PAN No.: [Permanent Account No.]	AACCG8823E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Supplier of Tube Cleaning System and Debris Filter on turnkey basis for Power and Desalination Plants worldwide
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 680000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company has achieved a letter increase on its sales turnover and profitability during 2011. Trade relations are reported as decent. 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.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Cash Credit Facilities = BBB
Rating Explanation	Moderate credit risk
Date	29.11.2011

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018, Tamilnadu, India
Tel. No.:	91-44-24326171/ 27900181/ 27948549
Fax No.:	91-44-24364656/ 27948249
E-Mail :	compliance@bgrenergy.com bgrcorp@vsnl.com ed@geabgrenery.com
Website :	http://www.bgrcorp.com
Corporate Office :	443 Anna Salai Teynampet, Chennai – 600018, Tamilnadu, India
Tel. No.:	91-44-24335958/ 24333412
Fax No.:	91-44-24343374
Factory :	A-5, Pannamgadu Industrial Estate, Ramapuram Post, Sulurpet Taluk, Nellore District – 524401, Andhra Pradesh, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Balakrishnan Govindaswamy Raghupathy

Designation :

Director

Address :

60 (Old No. 100), Abhiramapruam, IV Street, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

28.09.1952

Date of Appointment :

28.06.2007

DIN No.:

00174472

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L40106AP1985PLC005318	BGR ENERGY SYSTEMS LIMITED	Managing director	11/10/2008	18/02/1985	-	Active	NO
2	U51103TN1991PTC020534	BOWN GRANITES COMPANY PRIVATE LIMITED	Director	25/03/1991	25/03/1991	02/07/2007	Active	NO
3	U70101TN1993PTC025438	SASIKALA ESTATE PRIVATE LIMITED	Director	14/07/1993	14/07/1993	-	Active	NO
4	U29141TN1994PLC026639	PROGEN SYSTEMS AND TECHNOLOGIES LIMITED	Director	27/01/1994	27/01/1994	-	Active	NO
5	U65991TN1994PTC027177	VANI SECURITIES PRIVATE LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
6	U65991TN1994PLC027174	BGR INVESTMENT HOLDINGS COMPANY LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
7	U65991TN1994PTC027175	PRIYA SECURITIES PRIVATE LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
8	U65991TN1994PTC027176	ARJUN SECURITIES PRIVATE LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
9	U30009PY1986PLC000437	PRAGATI COMPUTERS LIMITED	Director	22/03/1995	22/03/1995	02/07/2007	Active	NO
10	U29191TN1996PTC035263	GEA COOLING TOWER TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	22/04/1996	22/04/1996	-	Active	NO
11	U92199GA1996PTC002186	GOA OCEANARIUM PRIVATE LIMITED	Director	03/12/1996	03/12/1996	02/07/2007	Active	NO
12	U74999TN1997PTC038530	GERMANISCHER LLOYD INDUSTRIAL SERVICES INDIA PRIVATE LIMITED	Director	30/06/1997	30/06/1997	-	Active	NO
13	U45207TN1993PLC026243	CUDDALORE POWERGEN CORPORATION LIMITED	Director	22/01/2010	04/07/1997	-	Active	NO
14	U72300TN1997PTC038980	PRAGATI INFORMATION TECHNOLOGIES PRIVATE LIMITED	Director	09/09/1997	09/09/1997	02/07/2007	Active	NO
15	U40101TN1999PLC041895	ERODE POWER CORPORATION LIMITED	Director	15/02/1999	15/02/1999	02/07/2007	Strike off	NO
16	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
17	U40101TN1999PLC041896	BGR POWER LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
18	U25199TN1999PTC042481	SCHMITZ INDIA PRIVATE LIMITED	Director	06/12/1999	06/12/1999	-	Active	NO
19	U45201TN1996PLC036430	GOVIN ENGINEERING AND CONSTRUCTIONS LIMITED	Director	27/12/2000	27/12/2000	02/07/2007	Active	NO
20	U51909TN2004PTC052377	JOVE TRADEX PRIVATE LIMITED	Director	23/01/2004	23/01/2004	02/07/2007	Strike off	NO
21	U93090TN1995PLC030467	MEGA FUNDS INDIA LIMITED	Director	21/06/2004	21/06/2004	-	Active	NO
22	U05005AP1992PLC040434	BGR AQUAATECH INDIA LIMITED	Director	23/09/2006	23/09/2006	-	Active	NO
23	U15511TN2007PTC064007	VINDIANA WINES PRIVATE LIMITED	Director	19/06/2007	19/06/2007	-	Under Process of Striking off	NO
24	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	Director	28/06/2007	28/06/2007	-	Active	NO
25	U40300TN2009PTC070541	BGR TURBINES COMPANY PRIVATE LIMITED	Director	23/01/2009	23/01/2009	-	Active	NO
26	U31100TN2009PLC070540	BGR POWER MACHINES LIMITED	Director	23/01/2009	23/01/2009	-	Strike off	NO
27	U74200TN2009PTC070539	BGR BOILERS PRIVATE LIMITED	Director	23/01/2009	23/01/2009	-	Active	NO
28	U70109TN2006PTC061619	MENMAI ESTATE PRIVATE LIMITED	Director	22/06/2009	22/06/2009	-	Active	NO
29	U70102TN2006PTC061623	NANNILAM PROPERTY PRIVATE LIMITED	Additional director	14/01/2010	14/01/2010	02/04/2010	Active	NO
30	U40102TN2010PLC077392	BGR ODISHA POWERGEN LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
31	U45200TN2006PTC061692	ACCORD FOUNDATIONS PRIVATE LIMITED	Additional director	15/12/2010	15/12/2010	-	Active	NO
32	U65910TN2011PLC080324	BGR FINANCE AND CAPITAL INDIA LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
33	U70100TN2011PLC080323	BGR ESTATE HOLDINGS LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
34	U40106TN2011PTC080318	BGR FLAGSOL SOLAR POWER INDIA PRIVATE LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
35	U62100TN2011PLC080336	BGR AVIATION LIMITED	Director	27/04/2011	27/04/2011	-	Active	NO
36	U40300TN2011PTC082266	TRG Energy Private Limited	Director	09/09/2011	09/09/2011	-	Active	NO
37	U70109TN2012PTC085532	VAANI ESTATES PRIVATE LIMITED	Director	20/04/2012	20/04/2012	-	Active	NO

Name :

Mrs. Sasikala Raghupathy

Designation :

Director

Address :

60 (Old No. 100), Abhiramapruam, IV Street, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

14.05.1956

Date of Appointment :

28.06.2007

DIN No.:

00490686

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L40106AP1985PLC005318	BGR ENERGY SYSTEMS LIMITED	Director	20/08/1985	20/08/1985	-	Active	NO
2	U51103TN1991PTC020534	BOWN GRANITES COMPANY PRIVATE LIMITED	Director	25/03/1991	25/03/1991	02/07/2007	Active	NO
3	U05005AP1992PLC040434	BGR AQUAATECH INDIA LIMITED	Director	22/09/1992	22/09/1992	-	Active	NO
4	U70101TN1993PTC025438	SASIKALA ESTATE PRIVATE LIMITED	Director	14/07/1993	14/07/1993	-	Active	NO
5	U29141TN1994PLC026639	PROGEN SYSTEMS AND TECHNOLOGIES LIMITED	Director	27/01/1994	27/01/1994	-	Active	NO
6	U65991TN1994PTC027177	VANI SECURITIES PRIVATE LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
7	U65991TN1994PLC027174	BGR INVESTMENT HOLDINGS COMPANY LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
8	U65991TN1994PTC027175	PRIYA SECURITIES PRIVATE LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
9	U65991TN1994PTC027176	ARJUN SECURITIES PRIVATE LIMITED	Director	30/03/1994	30/03/1994	-	Active	NO
10	U92199GA1996PTC002186	GOA OCEANARIUM PRIVATE LIMITED	Director	05/09/1998	05/09/1998	02/07/2007	Active	NO
11	U40101TN1999PLC041895	ERODE POWER CORPORATION LIMITED	Director	15/02/1999	15/02/1999	02/07/2007	Strike off	NO
12	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
13	U40101TN1999PLC041896	BGR POWER LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
14	U93090TN1995PLC030467	MEGA FUNDS INDIA LIMITED	Director	21/06/2004	21/06/2004	-	Active	NO
15	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	Director	28/06/2007	28/06/2007	-	Active	NO
16	U40300TN2009PTC070541	BGR TURBINES COMPANY PRIVATE LIMITED	Director	23/01/2009	23/01/2009	-	Active	NO
17	U31100TN2009PLC070540	BGR POWER MACHINES LIMITED	Director	23/01/2009	23/01/2009	-	Strike off	NO
18	U74200TN2009PTC070539	BGR BOILERS PRIVATE LIMITED	Director	23/01/2009	23/01/2009	-	Active	NO
19	U70109TN2006PTC061619	MENMAI ESTATE PRIVATE LIMITED	Director	29/09/2010	02/04/2010	-	Active	NO
20	U40102TN2010PLC077392	BGR ODISHA POWERGEN LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
21	U45200TN2006PTC061692	ACCORD FOUNDATIONS PRIVATE LIMITED	Additional director	15/12/2010	15/12/2010	-	Active	NO
22	U65910TN2011PLC080324	BGR FINANCE AND CAPITAL INDIA LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
23	U70100TN2011PLC080323	BGR ESTATE HOLDINGS LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
24	U40106TN2011PTC080318	BGR FLAGSOL SOLAR POWER INDIA PRIVATE LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
25	U70109TN2012PTC085532	VAANI ESTATES PRIVATE LIMITED	Director	20/04/2012	20/04/2012	-	Active	NO

Name :

Mr. Ramanujam Ramesh Kumar

Designation :

Director

Address :

14 (Old No. W-3) North Main Road, Anna Nagar West Extenstion, Chennai-600101, Tamilnadu, India

Date of Birth/Age :

15.05.1962

Date of Appointment :

28.06.2007

DIN No.:

00176265

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U93090TN1995PLC030467	MEGA FUNDS INDIA LIMITED	Director	10/03/1995	10/03/1995	-	Active	NO
2	U45201TN1996PLC036430	GOVIN ENGINEERING AND CONSTRUCTIONS LIMITED	Director	28/08/1996	28/08/1996	-	Active	NO
3	U45207TN1993PLC026243	CUDDALORE POWERGEN CORPORATION LIMITED	Director	24/02/1998	24/02/1998	-	Active	NO
4	U29141TN1994PLC026639	PROGEN SYSTEMS AND TECHNOLOGIES LIMITED	Director	30/03/1998	30/03/1998	-	Active	NO
5	U30009PY1986PLC000437	PRAGATI COMPUTERS LIMITED	Director	04/09/1998	04/09/1998	-	Active	NO
6	U92199GA1996PTC002186	GOA OCEANARIUM PRIVATE LIMITED	Director	05/09/1998	05/09/1998	26/08/2011	Active	NO
7	U72300TN1997PTC038980	PRAGATI INFORMATION TECHNOLOGIES PRIVATE LIMITED	Director	21/09/1998	21/09/1998	-	Active	NO
8	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
9	U40101TN1999PLC041895	ERODE POWER CORPORATION LIMITED	Director	15/02/1999	15/02/1999	-	Strike off	NO
10	U40101TN1999PLC041896	BGR POWER LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
11	U29191TN1996PTC035263	GEA COOLING TOWER TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	20/05/1999	20/05/1999	-	Active	NO
12	U25199TN1999PTC042481	SCHMITZ INDIA PRIVATE LIMITED	Director	06/12/1999	06/12/1999	-	Active	NO
13	U51909TN2004PTC052377	JOVE TRADEX PRIVATE LIMITED	Director	23/01/2004	23/01/2004	-	Strike off	NO
14	U74999TN1997PTC038530	GERMANISCHER LLOYD INDUSTRIAL SERVICES INDIA PRIVATE LIMITED	Director	25/08/2006	25/08/2006	-	Active	NO
15	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	Director	28/06/2007	28/06/2007	-	Active	NO
16	U40300TN2009PTC070541	BGR TURBINES COMPANY PRIVATE LIMITED	Director	08/09/2011	30/09/2010	-	Active	NO

Name :

Mr. Vellore Ranganathan Mahadevan

Designation :

Director

Address :

A5, Shanti Haven, No.128, St. Mary’s Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

15.05.1959

Date of Appointment :

30.10.2008

DIN No.:

00174667

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72300TN1997PTC038980	PRAGATI INFORMATION TECHNOLOGIES PRIVATE LIMITED	Director	09/09/1997	09/09/1997	-	Active	NO
2	U92199GA1996PTC002186	GOA OCEANARIUM PRIVATE LIMITED	Director	05/09/1998	05/09/1998	-	Active	NO
3	U30009PY1986PLC000437	PRAGATI COMPUTERS LIMITED	Director	18/07/1999	18/07/1999	-	Active	NO
4	U25199TN1999PTC042481	SCHMITZ INDIA PRIVATE LIMITED	Director	06/03/2000	06/03/2000	-	Active	NO
5	U45201TN1996PLC036430	GOVIN ENGINEERING AND CONSTRUCTIONS LIMITED	Director	04/08/2003	04/08/2003	-	Active	NO
6	L40106AP1985PLC005318	BGR ENERGY SYSTEMS LIMITED	Whole-time director	01/06/2010	01/06/2005	-	Active	NO
7	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	Director	30/10/2008	01/08/2007	-	Active	NO
8	U31100TN2009PLC070540	BGR POWER MACHINES LIMITED	Director	23/01/2009	23/01/2009	-	Strike off	NO
9	U74999TN1997PTC038530	GERMANISCHER LLOYD INDUSTRIAL SERVICES INDIA PRIVATE LIMITED	Director	10/07/2009	10/07/2009	-	Active	NO
10	U74200TN2009PTC070539	BGR BOILERS PRIVATE LIMITED	Director	05/09/2011	07/10/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
B G Raghupathy	5004000
Saskikala Raghupathy	10000
R Swarnamugi	6000
S Rathinam	6000
A Swaminathan	6000
V R Mahadevan	6000
R Ramesh Kumar	6000
R Priyadarshini	6000
Total	5050000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	99.76
Other top fifty shareholders	0.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Supplier of Tube Cleaning System and Debris Filter on turnkey basis for Power and Desalination Plants worldwide

Products :

Product Description	ITC Code
On Load Condenser Tube Cleaning System	84.79
Debris Filter	64.21

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Tube Cleaning System	Nos.	75	56
Debris Filter	Nos	75	78

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Settipalli Branch, Chittor District, Tirupati-517506, Andhra Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Working capital loans banks secured	83.604	85.674
Other debt secured	4.910	5.193
Total	88.514	90.867
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Loans directors unsecured	141.500	141.500
Total	141.500	141.500

Banking Relations :	--
Auditors :
Name :	R V Chander and Associates Chartered Accountants
Address :	“Kalpataru”, No. 87, Santhome High Road, Chennai-600028, Tamilnadu, India
PAN.:	AAFFR0931E
Related Parties :	· BGR Energy Systems Limited · Progen Systems and Technologies Limited · Schmitz India Private Limited · BGR Enertech Sdn. Bhd., Malaysia · Cuddalore PopwerGen Corporation Limited · Germanischer Lloyd Industrial Services India Private Limited · Sasikala Estate Private Limited · Mega Funds India Limited · GEA Cooling Tower Technologies (India) Private Limited · Vindiana Wines Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5050000	Equity Shares	Rs.10/- each	Rs.50.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		50.500	50.500	50.500
2] Share Application Money		0.061	0.061	0.061
3] Reserves & Surplus		119.884	64.819	34.278
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		170.445	115.380	84.839
LOAN FUNDS
1] Secured Loans		88.514	90.867	95.922
2] Unsecured Loans		141.500	141.500	157.500
TOTAL BORROWING		230.014	232.367	253.422
DEFERRED TAX LIABILITIES		18.414	12.295	6.153
TOTAL		418.873	360.042	344.414
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.266	26.421	25.060
Capital work-in-progress		12.274	5.043	4.924
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	150.348	148.667	91.011
	Sundry Debtors	456.221	415.918	357.826
	Cash & Bank Balances	50.508	74.168	32.837
	Other Current Assets	1.956	0.265	0.726
	Loans & Advances	74.080	50.944	37.291
Total Current Assets		733.113	689.962	519.691
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	276.482	316.136	181.035
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	77.298	45.248	24.226
Total Current Liabilities		353.780	361.384	205.261
Net Current Assets		379.333	328.578	314.430
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		418.873	360.042	344.414

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income (Turnover)	707.044	553.962	443.058
		Other Income	3.315	1.618	10.084
		TOTAL (A)	710.359	555.580	453.142
Less	EXPENSES
		Cost of Materials	400.661	305.215	259.139
		Cost of Manufacture	33.437	19.373	13.768
		Administrative Expenses	--	108.432	82.908
		Selling Expenses	29.221	22.536	18.101
		Increase/Decrease in Stock	(6.739)	(7.609)	18.711
		TOTAL (B)	575.463	447.947	392.627
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		134.896	107.633	60.515
Less	FINANCIAL EXPENSES (D)		27.025	35.683	12.884
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		107.871	71.950	47.631
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.821	2.429	2.012
	PROFIT BEFORE TAX (E-F) (G)		105.050	69.521	45.619
Less	TAX (I)		38.208	27.164	15.836
	PROFIT AFTER TAX (G-I) (J)		66.842	42.357	29.783
Less	APPROPRIATIONS
		Transfer to General Reserve	6.645	4.236	2.978
		Proposed Dividend	10.100	10.100	10.100
		Corporate Dividend Tax	1.716	1.716	1.716
	BALANCE CARRIED TO THE B/S		48.381	26.305	14.989
	EARNINGS IN FOREIGN CURRENCY
		Sales	233.369	198.392	137.772
		Services	7.178	4.963
	TOTAL EARNINGS		240.547	203.355	137.772
	IMPORTS
		Raw Materials, Components and Consumables	55.904	81.025	16.127
	TOTAL IMPORTS		55.904	81.025	16.127
	Earnings Per Share (Rs.)		13.24	8.39	5.90

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.41	7.62	6.57
Net Profit Margin (PBT/Sales)	(%)	14.86	12.55	10.30
Return on Total Assets (PBT/Total Assets}	(%)	13.82	9.70	8.37
Return on Investment (ROI) (PBT/Networth)		0.62	0.60	0.54
Debt Equity Ratio (Total Liability/Networth)		3.53	5.15	5.41
Current Ratio (Current Asset/Current Liability)		2.07	1.91	2.53

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	(Yes)
2]	Locality of the firm	(Yes)
3]	Constitutions of the firm	(Yes)
4]	Premises details	(No)
5]	Type of Business	(Yes)
6]	Line of Business	(Yes)
7]	Promoter's background	(Yes)
8]	No. of employees	(No)
9]	Name of person contacted	(No)
10]	Designation of contact person	( No)
11]	Turnover of firm for last three years	(Yes)
12]	Profitability for last three years	(Yes)
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	(No)
15]	Capital in the business	(Yes)
16]	Details of sister concerns	(Yes)
17]	Major suppliers	(No)
18]	Major customers	(No)
19]	Payments terms	(No)
20]	Export / Import details (if applicable)	(No)
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	(Yes / No)
24]	Banking facility details	(Yes / No)
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	(Yes)
28]	Incorporation details, if applicable	(Yes)
29]	Last accounts filed at ROC	(Yes)
30]	Major Shareholders, if available	(Yes)
31]	PAN of Proprietor/Partner/Director, if available	(No)
32]	Passport No of Proprietor/Partner/Director, if available	(No)
33]	Voter ID No of Proprietor/Partner/Director, if available	(No)

FINANCIAL RESULTS

During the year, the Company achieved a turnover of Rs.707.000 Millions and profit before tax and profit after tax of Rs.105.0000 Millions and Rs.66.800 Millions respectively

BUSINESS PERFORMANCE AND FUTURE OUTLOOK

During the year, the company's turnover has registered a growth of 27% which stood at Rs.707.000 Millions as compared to Rs.554.000 Millions in the previous year. The company's Profit after tax for the year ended increased by 57% to Rs.66.800 Millions as compared to Rs.42.400 Millions in the previous year. During the year under review, your Company successfully executed contracts for various international and domestic clients viz., MHI, Foster Wheeler, Sozidanie, BHEL, BGR Energy, Lanco. The future outlook for the year ahead looks promising as the Government policy on Power sector investment encourages capacity build up which would facilitate major OEMs and EPC to place orders for Condenser on Load Tube Cleaning System and Debris filter / separator in large numbers. Your company is looking forward to achieve improvement in performance. Your company, despite competitive pressure, is confident of improving its performance in view of its proven execution capabilities, track record and market position.

CONTINGENT LIABILITIES:

There are no claims against the company acknowledged as a dept.

Letter of credit as on March 31, 2011 is Rs.16.404 Millions (Rs. 15.563 Millions)

Bank Guarantee as on March 31, 2011 is Rs.199.183 Millions (Rs. 143.437 Millions)

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U40105TN2007PLC064141
Name of the company	GEA BGR ENERGY SYSTEM INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai-600018, Tamilnadu, India compliance@bgrenergy.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10188565
Type of charge	Immovable property
Particular of charge holder	State Bank of India, Settipalli Branch, Chittor District, Tirupati-517506, Andhra Pradesh, India sbi.06677@sbi.co.in
Nature of instrument creating charge	Memorandum of Deposit for creation of further charge for Term loan / overall limit where the initial charge is created by way of Mortgage of deposit of title deeds.
Date of instrument Creating the charge	04.06.2012
Amount secured by the charge	Rs.500.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash credit (HYP.)- 3.25% above Base rate effective rate being 13.25% p.a. Terms of Repayment Repayable on demand. The facility, which has been sanctioned on 10.11.2011, is available for twelve months from the date, subject to review every six months, when it may be cancelled / reduced depending upon the conduct and utilisation of the advance, or as per the Bank's scheme. Margin Raw Material: (Domestic - 20%, Imported - 15%) Stock in Process: (Domestic - 20%, Exports -15%) Finished goods: (Domestic - 20% Exports-15%) Receivables (Domestic - 30% Exports - 15%) Letter of credit - 15 % Bank Guarantee - 15% Extent and Operation of the charge Second charge on immovable properties situated at IDA Pannamgadu Village within panchayat limits of Ramapuram, Tada Mandalam, Sullurpet Taluk, Nellore District in the State of Andhra Pradesh together with all buildings and structures thereon and all plant and machinery attached to the earth or permanently fastened to anything attached to the earth.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All those piece and parcel of the land measuring an extent of 19,772.29 sq.yds (16518.20 sq.mts) comprising of in Plot Nos. A4,A5,A6,A7 and E7 at IDA Pannamgadu Village within panchayat limits of Ramapuram, Tada Mandalam, Sullurpet Taluk, Nellore District in the state of Andhra Pradesh together with all buildings and structures thereon and all plant and machinery attached to the earth or permanently fastened to anything attached to the earth.
Particulars of the present modification	The original charge created on immovable properties of the Company on 20.10.2009 for Rs.350.000 Millions in favour of State Bank of India, Settipalli Branch, Andhra Pradesh is modified and increased to Rs.500.000 Millions on 04.06.2012.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Computers

· Office Equipments

· Electrical Installation

· Vehicles

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.55.95
UK Pound	1	Rs.86.56
Euro	1	Rs.67.95

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		48

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.