1. Summary Information

		Country	India
Company Name	SUZLON WIND INTERNATIONAL LIMITED	Principal Name 1	Mr. Jitendra R. Tanti
Status	Satisfactory	Principal Name 2	Mr. Ranjitsinh Abhaysinh Parmar
		Registration #	08-041191
Street Address	3^rd Floor, Anchorage 2, # 100/2, Richmond Road, Bangalore – 560 025, Karnataka
Established Date	12.12.2006	SIC Code	--
Telephone#	91-80-22489620	Business Style 1	Manufacture
Fax #	91-80-22249117	Business Style 2	Engaged
Homepage	http://www.suzlon.com	Product Name 1	Nacelles
# of employees	Not Available	Product Name 2	Hubs and Nose Cones
Paid up capital	Rs.2,032,955,000/-	Product Name 3	Wind Turbine Generators
Shareholders	Bodies Corporate – 100%	Banking	Union Bank of India
Public Limited Corp.	Yes	Business Period	6 Years
IPO	Yes	International Ins.	-
Public Enterprise	Yes	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Holding Company	--	Suzlon Energy Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	22,979,460,000	Current Liabilities	3,022,684,000
Inventories	1,256,643,000	Long-term Liabilities	13,788,611,000
Fixed Assets	965,635,000	Other Liabilities	40,152,000
Deferred Assets	0,000	Total Liabilities	16,851,447,000
Invest& other Assets	229,072,000	Retained Earnings	6,546,408,000
		Net Worth	8,579,363,000
Total Assets	25,430,810,000	Total Liab. & Equity	25,430,810,000
Total Assets (Previous Year)	23,845,146,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	6,325,253,000	Net Profit	195,232,000
Sales(Previous yr)	8,686,172,000	Net Profit(Prev.yr)	890,862,000

MIRA INFORM REPORT

Report Date :

17.03.2012

IDENTIFICATION DETAILS

Name :	SUZLON WIND INTERNATIONAL LIMITED
Registered Office :	3^rd Floor, Anchorage 2, # 100/2, Richmond Road, Bangalore – 560 025, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.12.2006
Com. Reg. No.:	08-041191
Capital Investment / Paid-up Capital :	Rs.2032.955 Millions
CIN No.: [Company Identification No.]	U40108KA2006PLC041191
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the manufacture of Nacelles, Hubs and Nose Cones for Wind Turbine Generators [WTG].
No. of Employees :	Not Available

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 34320000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of Suzlon Energy Limited, India It is an established company having satisfactory track. There appears continuous dip in the profitability of the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 Office :	3^rd Floor, Anchorage 2, # 100/ 2, Richmond Road, Bangalore – 560 025, Karnataka, India
Tel. No.:	91-80-22489620
Fax No.:	91-80-22249117
E-Mail :	mca@suzlon.com
Website :	http://www.suzlon.com
Corporate Office 1 :	One Earth, Hadapsar, Pune – 411 028, Maharashtra, India
Corporate Office 2 :	806, Prestige Towers, 100, Residency Road, Bangalore – 560 025, Karnataka, India
Tel. No.:	91-80-22249270
Fax No.:	91-80-22249117
Factory :	Located at : Udupi in the State of Karnataka, India

DIRECTORS

As on 10.09.2011

Name :

Mr. Vinod R. Tanti

Designation :

Director

Address :

A-901, Ssilver Woods, Mundhwa, Pune – 411 036, Maharashtra, India

Date of Birth/Age :

29.06.1962

Date of Appointment :

31.10.2010

DIN :

00002266

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	U65910GJ1994PTC022641	TANTI HOLDINGS PRIVATE LIMITED	Director	28/07/1994	28/07/1994	-	Active	NO
2	U40100GJ2000PLC037245	SUZLON TOWERS AND STRUCTURES LIMITED	Director	1/4/2010	25/01/2000	1/11/2010	Amalgamated	NO
3	U40108PN1998PLC016515	SUZLON INFRASTRUCTURE SERVICES LIMITED	Director	1/9/2006	14/04/2004	-	Amalgamated	NO
4	U65993PN2005PTC020371	SURUCHI HOLDINGS PRIVATE LIMITED	Director	4/3/2005	4/3/2005	-	Active	NO
5	U65993PN2005PTC020433	SANMAN HOLDINGS PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Amalgamated	NO
6	U45203TZ2004PLC011180	SUZLON POWER INFRASTRUCTURE LIMITED	Director	1/4/2005	1/4/2005	-	Active	NO
7	U29999PN2001PLC016118	SUZLON ENGITECH LIMITED	Director	27/06/2005	27/06/2005	-	Active	NO
8	U70102GJ2006PLC048887	SE ENERGY PARK LIMITED	Director	10/8/2006	10/8/2006	-	Amalgamated	NO
9	U28999KA2006PLC041188	SE COMPOSITES LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
10	U31108KA2006PLC041190	SE ELECTRICALS LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
11	U40108KA2006PLC041191	SUZLON WIND INTERNATIONAL LIMITED	Director	31/10/2010	12/12/2006	-	Active	NO
12	U27109GJ2004PLC044170	SUZLON STRUCTURES LIMITED	Director	25/07/2007	1/2/2007	-	Active	NO
13	U31101PN2004PLC019205	SUZLON GENERATORS LIMITED	Director	9/7/2007	2/5/2007	-	Active	NO
14	U27106KA2008PLC045714	SYNEW STEEL LIMITED	Director	24/03/2008	24/03/2008	-	Active	NO
15	U27310GJ2006PLC048563	SE FORGE LIMITED	Director	16/09/2008	1/4/2008	-	Active	NO
16	U40108PN2008PLC131668	SE SOLAR LIMITED	Director	5/9/2009	16/03/2009	-	Active	NO
17	L40100GJ1995PLC025447	SUZLON ENERGY LIMITED	Whole-time director	27/09/2011	1/11/2010	-	Active	NO

Name :

Mr. Jitendra R. Tanti

Designation :

Director

Address :

A-1102, Ssilver Woods, Mundhwa, Pune – 411 036, Maharashtra, India

Date of Birth/Age :

13.04.1964

Date of Appointment :

12.12.2006

DIN :

00002257

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	L17119GJ1992PLC017218	SNS TEXTILES LIMITED	Director	15/04/1992	15/04/1992	15/06/2009	Active	NO
2	U55100GJ1997PTC032418	SUGATI BEACH RESORT PRIVATE LIMITED	Director	28/05/1997	28/05/1997	-	Active	NO
3	U29999PN2001PLC016118	SUZLON ENGITECH LIMITED	Director	3/5/2001	3/5/2001	-	Active	NO
4	U40300GJ2001PLC067617	SALENE POWER INFRASTRUCTURE LIMITED	Director	1/2/2007	7/6/2001	-	Active	NO
5	U45202PN1998PLC016516	SYNEFRA ENGINEERING AND CONSTRUCTION LIMITED	Managing director	1/4/2011	1/4/2003	-	Active	NO
6	U31101PN2004PLC019205	SUZLON GENERATORS LIMITED	Director	29/04/2004	29/04/2004	15/05/2007	Active	NO
7	U40108PN1998PLC016515	SUZLON INFRASTRUCTURE SERVICES LIMITED	Director	1/5/2004	1/5/2004	1/4/2007	Amalgamated	NO
8	U45203TZ2004PLC011180	SUZLON POWER INFRASTRUCTURE LIMITED	Director	10/6/2004	10/6/2004	-	Active	NO
9	U65993PN2005PTC020433	SANMAN HOLDINGS PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Amalgamated	NO
10	U65993PN2005PTC020434	SAMANVAYA HOLDINGS PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Active	NO
11	U27310GJ2006PLC048563	SE FORGE LIMITED	Director	26/06/2006	26/06/2006	1/4/2008	Active	NO
12	U28999KA2006PLC041188	SE COMPOSITES LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
13	U40108KA2006PLC041191	SUZLON WIND INTERNATIONAL LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
14	U31108KA2006PLC041190	SE ELECTRICALS LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
15	U40103GJ2006PTC049608	SIL TRANSMISSION (RAJASTHAN) Private LIMITED	Director	20/12/2006	20/12/2006	-	Active	NO
16	U70109TN2004PLC053389	SHUBH REALTY (SOUTH) LIMITED	Director	13/09/2011	15/03/2011	-	Active	NO

Name :

Mr. Ranjitsinh Abhaysinh Parmar

Designation :

Director

Address :

Plot No.27-A, Acacia – I, Magarpatta City, Hadapsar, Pune – 411 028, Maharashtra, India

Date of Birth/Age :

26.08.1955

Date of Appointment :

01.09.2010

DIN :

00002613

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	L17119GJ1992PLC017218	SNS TEXTILES LIMITED	Director	22/05/1996	22/05/1996	-	Active	NO
2	U55100GJ1997PTC032418	SUGATI BEACH RESORT PRIVATE LIMITED	Director	9/8/1999	9/8/1999	-	Active	NO
3	U45202PN1998PLC016516	SYNEFRA ENGINEERING AND CONSTRUCTION LIMITED	Director	1/4/2010	15/12/1999	-	Active	NO
4	U70102GJ2006PLC048887	SE Energy Park Limited	Director	10/8/2006	10/8/2006	-	Amalgamated	NO
5	U40103GJ2006PTC049608	SIL TRANSMISSION (RAJASTHAN) Private LIMITED	Director	20/12/2006	20/12/2006	12/7/2010	Active	NO
6	U40108PN1998PLC016515	SUZLON INFRASTRUCTURE SERVICES LIMITED	Director	1/4/2008	1/4/2007	-	Amalgamated	NO
7	U74900GJ2007NPL052449	SUZLON FOUNDATION	Director	27/12/2007	27/12/2007	-	Active	NO
8	U40108GJ2008PLC053315	SUZLON GREEN POWER LIMITED	Director	24/03/2008	24/03/2008	-	Active	NO
9	U40108RJ2003PLC018430	SAMIRAN UDAIPUR WINDFARMS LIMITED	Director	30/09/2008	18/06/2008	-	Active	NO
10	U40108RJ2003PLC018432	SAMIRAN JAISALMER WINDFARMS LIMITED	Director	30/09/2008	18/06/2008	-	Active	NO
11	U40108RJ2003PLC018429	SAMIRAN JODHPUR WINDFARMS LIMITED	Director	30/09/2008	18/06/2008	-	Active	NO
12	L40108WB2005PLC139595	TECHNO ELECTRIC AND ENGINEERING COMPANY LIMITED	Director	21/08/2008	18/06/2008	3/9/2009	Active	NO
13	U40108WB2005PTC166026	SIMRAN WIND PROJECT PRIVATE LIMITED	Director	20/09/2008	18/06/2008	20/11/2009	Active	NO
14	U31101PN2004PLC019205	SUZLON GENERATORS LIMITED	Director	20/08/2009	8/12/2008	-	Active	NO
15	U61100MH2009FTC191616	SE SHIPPING INDIA PRIVATE LIMITED	Director	20/09/2010	25/06/2009	-	Active	NO
16	U40108TZ2009PTC015375	PUJAA SHREE GREEN POWER PRIVATE LIMITED	Director	21/08/2009	21/08/2009	22/02/2010	Active	NO
17	U40108GJ2004PLC044409	SUZLON GUJARAT WIND PARK LIMITED	Director	30/09/2010	4/9/2009	-	Active	NO
18	U61200MH2009FTC196196	SE FREIGHT AND LOGISTICS INDIA PRIVATE LIMITED	Director	1/10/2009	1/10/2009	-	Active	NO
19	U67190KA2009PTC051891	AZURE CAPITAL ADVISORS PRIVATE LIMITED	Director	29/09/2010	19/02/2010	-	Active	NO
20	U28999KA2006PLC041188	SE COMPOSITES LIMITED	Director	1/9/2010	1/4/2010	-	Active	NO
21	U40108KA2006PLC041191	SUZLON WIND INTERNATIONAL LIMITED	Director	1/9/2010	1/4/2010	-	Active	NO
22	U27109GJ2004PLC044170	SUZLON STRUCTURES LIMITED	Managing director	1/4/2011	1/4/2010	-	Active	NO
23	U40100GJ2000PLC037245	SUZLON TOWERS AND STRUCTURES LIMITED	Director	3/9/2010	1/4/2010	1/11/2010	Amalgamated	NO

KEY EXECUTIVES

Name :	Mr. Mukesh Kumar J. Mantri
Designation :	Secretary
Address :	Mahatma Residency, # 201, Anegundi, 1^st Cross, Mangalore – 575 004, Karnataka, India
Date of Birth/Age :	19.10.1964
Date of Appointment :	01.03.2009
PAN :	ADLPM7741A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 10.09.2011

Names of Shareholders	No. of Equity Shares
Suzlon Energy Limited, India	9999940
Tulsi R. Tanti J/W Suzlon Energy Limited, India	10
Girish R. Tanti J/W Suzlon Energy Limited, India	10
Vinod R. Tanti J/W Suzlon Energy Limited, India	10
Jitendra R. Tanti J/W Suzlon Energy Limited, India	10
Gita T. Tanti J/W Suzlon Energy Limited, India	10
Sangita V. Tanti J/W Suzlon Energy Limited, India	10
Total	10000000

Names of Shareholders	No. of Preference Shares
Suzlon Engery Limited, India	19329550
Total	19329550

As on 10.09.2011

Equity Share Breakup (Percentage of Total Equity)

Category	Percentage of Holding
Bodies Corporate ( not mentioned above)	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacture of Nacelles, Hubs and Nose Cones for Wind Turbine Generators [WTG].

Products :

Product Description	ITC Code
Nacelle Assembly [Wind operated electricity generators]	85023100
Parts of Wind operated electricity generators	85030090
Rotor, Nose Cone, Hub Assembly	3601
Nacell Cover	3601
WTG Assembly	3601

PRODUCTION STATUS

As on 31.03.2011

Particulars	Actual Production
	In Nos.	In MW’s
Nacelees Assembly [2.1 MW]	147	308.70
Hub Assembly [2.1 MW]	147	308.70

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Dena Bank, Corporate Business Branch, C-10, G- Block, Bandra- Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India

· State Bank of India, Specialised Commercial Branch, 1^st Floor, Neptune Tower Annexe, Gandhigram Ahmedabad-380009, Gujarat, India

· Oriental Bank of Commerce, 917-20/20A, OBC Towers, F.C. Road, Pune – 411004, Maharashtra, India

· HDFC Bank Limited

· State Bank of Patiala

· Bank of Maharashtra

· Bank of India

· Union Bank of India

· Corporation Bank

· Axis Bank Limited

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	5328.489	4550.497
Working capital loans banks secured	3172.304	2262.869
Total	8500.793	6813.366
Suzlon Energy Limited ('SEL') along with its 10 Indian subsidiaries, collectively referred as “Suzlon Entities” have executed a debt Consolidation and Refinancing Arrangement (the ‘Arrangement’)on February 5, 2010 with a consortium comprising of various banks and financial institutions (‘Consortium’)lead by the State Bank of India as the Facility Agent and SBI Cap Trustee Company Limited as the Security Trustee. The entities covered includes Suzlon Energy Limited (‘SEL’), Suzlon Towers and Structures Limited (‘STSL’), Suzlon Infrastructure Services Limited (‘SISL’ or ‘the Company’), Suzlon Structures Limited (‘SSL’), Suzlon Power Infrastructure Limited (‘SPIL’), Suzlon Generators Limited (‘SGL’), Suzlon Gujarat Windpark Limited(‘SGWL’), SE Electricals Limited (‘SEEL’), Suzlon Wind International Limited (‘SWIL’), SE Composites Limited (‘SECL’), Suzlon Engitech Limited (‘SENL’) (hereinafter collectively referred to as the ‘Suzlon Entities’ or individually as the ‘Borrower’). Term loans from banks and financial institutions of Rs.5328.500 millions and working capital facilities from banks and financial institutions of Rs.3172.300 millions availed under debt consolidation and refinancing arrangement are secured by first charge on all present and future tangible/intangible and movable assets of each of Borrowers, first charge on all present and future immovable assets (excluding the identified properties) of each of Borrower, first charge on all present and future chargeable current assets of each of Borrower, first charge over TRA accounts of the Borrower, pledge of equity shares held by SEL in its 10 Indian subsidiaries forming part of the Suzlon Entities, pledge on equity shares of certain overseas subsidiaries of SEL held by step down overseas subsidiaries of SEL including REpower, pledge of certain equity shares of SEL held by it’s promoters, guarantee of overseas fellow subsidiary, personal guarantee of the managing director of SEL limited personal guarantee of director of SSL.
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working capital loans others unsecured	5287.818	3201.057
Total	5287.818	3201.057

Banking Relations :
Financial Institutions :	SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India
Auditors :
Name :	SNK and Company Chartered Accountants
Address :	E-2-B, The fifth Avenue, Dhole Patil Road, Near Regency Hotel, Pune-411001, Maharashtra, India
PAN.:	AAJFS8455L
Name :	S.R. Batliboi and Company Chartered Accountants
Address :	C-401, Fourth Floor, Panchashil Tech Park, Yerwada, Pune-411006, Maharashtra, India
Pan No.:	AALFS0506L
Holding Company:	Suzlon Energy Limited CIN No : L40100GJ1995PLC025447
Subsidiary company:	S E Solar Limited CIN No : U40108PN2008PLC131668
Fellow Subsidiary :	Suzlon Towers and Structures Limited (STSL) CIN No : U40100GJ2000PLC037245 S E Composites Limited (SECL) S E Electricals Limited (SEEL) CIN No : U31108KA2006PLC041190 Suzlon Generator Limited (SGL) Suzlon Enrgy Portugal Energia Eo Un Lda (Portugal) Suzlon Wind Energy Corporation USA (SWECO) Suzlon Wind Energy A/S (SWEAS) Suzlon Energy Australia Pty. Limited (SEA) Suzlon Energy A/s (SEAS) Suzlon Energia Eólica do Brasil Ltda S E Forge Limited (SEFL) CIN No : U27310GJ2006PLC048563 Suzlon Infrastructure Services Limited (SISL) SE Blades Limited CIN No : U28999KA2006PLC041188
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Synefra Engineering and Construction Limited CIN No : U45202PN1998PLC016516

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 Millions
20,000,000	Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.2000.000 Millions
	Total		Rs.2100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares (Of the above equity shares 10,000,000 equity shares of Rs.10/- each are held by Suzlon Energy Limited, the holding company and its nominees)	Rs.10/- each	Rs.100.000 Millions
19,329,550	9% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.1932.955 Millions
29,329,550	Total		Rs.2032.955 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		2032.955	2032.955	1182.655
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		6546.408	6351.175	5460.625
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8579.363	8384.130	6643.280
LOAN FUNDS
1] Secured Loans		8500.793	6813.366	3530.224
2] Unsecured Loans		5287.818	3201.058	1950.179
TOTAL BORROWING		13788.611	10014.424	5480.403
DEFERRED TAX LIABILITIES		12.386	11.288	13.166
TOTAL		22380.360	18409.842	12136.849
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		965.635	1090.563	950.403
Capital work-in-progress		209.627	215.916	471.521
INVESTMENT		19.445	19.445	18.445
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1256.643	2619.897	2107.012
	Sundry Debtors	22374.389	17987.050	15794.946
	Cash & Bank Balances	238.835	1479.554	268.363
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	366.236	432.721	512.938
Total Current Assets		24236.103	22519.222	18683.259
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3000.405	5302.096	7835.614
	Other Current Liabilities	22.279	67.418	64.140
	Provisions	27.766	65.790	87.025
Total Current Liabilities		3050.450	5435.304	7986.779
Net Current Assets		21185.653	17083.918	10696.480
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		22380.360	18409.842	12136.849

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	6325.253	8686.172	15930.539
		Other Income	16.177	15.938	20.165
		TOTAL (A)	6341.430	8702.110	15950.704
Less	EXPENSES
		Consumption materials changes inventories	3960.610	4958.299	9961.264
		Manufacturing service costs	337.096	405.701
		Contract cost	(3.245)	340.023
		Employee related expenses	67.212	68.184
		Administrative selling other expenses	94.500	1106.850
		TOTAL (B)	4456.173	6879.057	9961.264
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1885.257	1823.053	5989.440
Less	FINANCIAL EXPENSES (D)		1547.987	756.915	325.555
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		337.270	1066.138	5663.885
Less/ Add	DEPRECIATION/ AMORTISATION (F)		127.849	129.884	87.029
	PROFIT BEFORE TAX (E-F) (G)		209.421	936.254	5576.856
Less	TAX (I)		14.189	45.392	26.456
	PROFIT AFTER TAX (G-I) (J)		195.232	890.862	5550.400
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6351.175	5460.625	(10.613)
Less	APPROPRIATIONS
		Dividend on preference shares	0.000	0.267	67.663
		Tax on Dividend	0.000	0.045	11.499
	BALANCE CARRIED TO THE B/S		6546.407	6351.175	5460.625
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	5330.326	7260.358	15412.958
	TOTAL EARNINGS		5330.326	7260.358	15412.958
	IMPORTS
		Raw Materials	2220.095	3510.561	8731.779
		Stores & Spares	6.768	7.124	18.360
		Capital Goods	0.000	0.000	287.979
	TOTAL IMPORTS		2226.863	3517.685	9038.118
	Earnings Per Share (Rs.)		(0.70)	71.11	547.16

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.08	10.24	34.80
Net Profit Margin (PBT/Sales)	(%)	3.31	10.78	35.01
Return on Total Assets (PBT/Total Assets}	(%)	0.83	3.97	28.40
Return on Investment (ROI) (PBT/Networth)		0.02	0.11	0.84
Debt Equity Ratio (Total Liability/Networth)		1.96	1.84	1.20
Current Ratio (Current Asset/Current Liability)		7.95	4.14	2.34

LOCAL AGENCY FURTHER INFORMATION

Bankers Charges Report as per Registry

Corporate identity number of the company	U40108KA2006PLC041191
Name of the company	SUZLON WIND INTERNATIONAL LIMITED
Address of the registered office or of the principal place of business in India of the company	3rd Floor, Anchorage 2, # 100/2, Richmond Road, Bangalore – 560025, Karnataka, India
This form is for	Creation of charge
Type of charge	Book Debts Movable Property Floating Charge Others
Particular of charge holder	Oriental Bank of Commerce, 917-20/20A, OBC Towers, F.C. Road, Pune – 411004, Maharashtra, India Email : bm1088@obc.co.in
Nature of instrument creating charge	Agreement of Hypothecation of Assets dated 14th October 2011.
Date of instrument Creating the charge	14.10.2011
Amount secured by the charge	Rs.3000.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - Base rate plus 2.5% p.a. payable monthly (floating rate) Terms of Repayment - Repayable on demand Margin - (A) Fund Based Working Capital Facility - (1) Inventory-25%, (2) Domestic Debtors (upto 135 days)-25%, (3) Overseas Debtors (upto 210 days)-10%, (4) Domestic (above 135 days) and Overseas (above 210 days) Debtors-100%; (B) Non Fund Based Working Capital Facility - LC and BG Facility - 5% Extent and Operation of the charge - First charge over the assets of the Company, whose details are securing fund based and non-fund based working capital facilities sanctioned by the Bank
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First pari passu charge on all present and future tangible / intangible movable assets of the Company First pari passu charge on all present and future current assets of the Company First pari passu charge over the Trust and Retention Account Assignment / Charge of all rights, interest, policies, benefits in the material contracts and agreements of the Company

Fixed Assets:

· Furniture and Fixture

· Computers

· Office Equipments

· Factory Building

· Land Development

· Plant and Machinery

· 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.50.31
UK Pound	1	Rs.79.05
Euro	1	Rs.65.83

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		45

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.