MIRA INFORM REPORT

Report Date :

28.05.2012

IDENTIFICATION DETAILS

Name :	DRS LOGISTICS PRIVATE LIMITED (w.e.f. June 2006)
Formerly Known As :	DRS TRANSPORT PRIVATE LIMITED
Registered Office :	321, Kabra Complex MG Road, Secunderabad – 500003, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2008
Date of Incorporation :	06.09.1991
Com. Reg. No.:	01-013178
Capital Investment / Paid-up Capital :	Rs. 1058.249 Millions
CIN No.: [Company Identification No.]	U63040AP1991PTC013178
TAN No.: [Tax Deduction & Collection Account No.]	HYDD00613E
PAN No.: [Permanent Account No.]	AAACD7182R
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Transportation and Warehousing Services
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	No Business Activities
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	As claimed by Mr. Sridharam (Finance Executive), the company is yet to file its financials for last 3 years. He also claimed that the company has no business activities with the name of DRS Logistics Private Limited and they has been doing business with some other name. And he denied to provide any further information. Initially, Subject can be considered for business dealings on a safe and secured 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

INFORMATION DECLINED BY

Name :	Mr. Sridharan
Designation :	Finance Executive
Contact No.:	91-40-39818800/ 27711504/ 27710530
Date :	25.05.2012

LOCATIONS

Registered Office :	321, Kabra Complex MG Road, Secunderabad – 500003, Andhra Pradesh, India
Tel. No.:	91-40-27711504
Fax No.:	91-40-66200059
E-Mail :	asha@drsindia.in ho_acct@hotmail.com co.acs@drsindia.com
Website :	http://www.drslogisticsltd.com
Corporate Office :	220, Kabra Complex,61, MG Road, Secunderabad – 500003, Andhra Pradesh, India
Tel. No.:	91-40-27711504/ 27710530/ 27700120
Fax No.:	91-40-27711406
E-Mail :	info@drslogisticsltd.com

DIRECTORS

AS ON 18.09.2009

Name :

Mr. Eshwar Ramana Karra

Designation :

Additional Director

Address :

B-1001, Meghdoot Towers, Lokhandwala Back Road, Andheri West, Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

08.06.1968

Date of Appointment :

03.06.2011

DIN No.:

00904141

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	U71290TN2001PTC048088	ENERGYVALUE INVESTMENTS (INDIA) PRIVATE LIMITED	Director	29-11-01	29-11-01	-	Strike off	NO
2	U24222MH2005PTC215180	SNOWCEM PAINTS PRIVATE LIMITED	Nominee director	06-11-06	06-11-06	09-02-09	Active	NO
3	L85110UP1987PLC008792	REGENCY HOSPITAL LIMITED	Nominee director	30-01-08	30-01-08	09-02-09	Active	NO
4	L17111PB1955PLC001884	OSWAL SPINNING AND WEAVING MILLS LIMITED	Nominee director	30-10-08	30-10-08	30-04-09	Active	NO
5	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Additional director	03-06-11	03-06-11	-	Active	YES
6	U70200TN2009PTC070872	ADD-ALBATROSS PROPERTIES PRIVATE LIMITED	Additional director	21-12-11	21-12-11	-	Active	NO

Name :

Mr. Dayanand Agarwal

Designation :

Managing Director

Address :

Plot No. 68, A.P. text Book Colony Gunrock, Karkhana, Secunderabad, Andhra Pradesh, India

Date of Birth/Age :

20.08.1951

Date of Appointment :

06.09.1991

DIN No.:

00006668

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	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Managing director	06-09-91	06-09-91	-	Active	YES
2	U60210AP2002PTC039418	DRS SHIPPING AND AIR CARGO PRIVATE LIMITED	Director	05-08-02	05-08-02	-	Active	YES
3	U63090MH2005PLC154749	AGARWAL PACKERS AND MOVERS LIMITED	Director	13-07-05	13-07-05	28-02-09	Active	NO
4	U74899DL2005PTC141748	APM Infrastructure Private Limited	Director	14-10-05	14-10-05	28-03-11	Active	NO
5	U63090DL2006PTC153134	DRS WAREHOUSING (NORTH) PRIVATE LIMITED	Nominee director	22-02-08	05-09-06	28-03-11	Active	NO
6	U74120DL2007PTC168853	DILIP ROADLINES PRIVATE LIMITED	Director	01-10-07	01-10-07	-	Active	NO
7	U52100DL2007PTC170460	APM Impex Trading Private Limited	Director	15-11-07	15-11-07	-	Active	NO
8	U60231DL2007PTC171058	RRD LOGISTICS PRIVATE LIMITED	Director	04-12-07	04-12-07	21-02-12	Active	NO
9	U60231DL2007PTC171056	RDR LOGISTICS PRIVATE LIMITED	Director	04-12-07	04-12-07	-	Active	NO
10	U63000AP2009PTC064707	DRS WAREHOUSING (SOUTH) PRIVATE LIMITED	Managing director	13-08-09	13-08-09	22-12-09	Active	NO

Name :

Mr. Ramesh Kumar Agarwal

Designation :

Joint Managing Director

Address :

496, Sainik Vihar, Pitampura, Gate No. 1, Near Fruit Market, New Delhi, India

Date of Birth/Age :

06.09.1962

Date of Appointment :

06.09.1991

DIN No.:

00674800

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	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Managing director	06-09-91	06-09-91	-	Active	YES
2	U63090MH2005PLC154749	AGARWAL PACKERS AND MOVERS LIMITED	Director	15-01-12	13-07-05	06-03-12	Active	NO
3	U74899DL2005PTC141748	APM Infrastructure Private Limited	Director	30-03-11	14-10-05	-	Active	NO
4	U63090DL2006PTC153134	DRS WAREHOUSING (NORTH) PRIVATE LIMITED	Nominee director	22-02-08	05-09-06	-	Active	NO
5	U63013DL2004PTC124594	DRS TRANSPORT PRIVATE LIMITED	Director	01-12-06	01-12-06	-	Active	NO
6	U70101DL1990PLC041960	SKYLINE LEASING LIMITED	Director	15-01-07	15-01-07	30-09-09	Active	NO
7	U74120DL2007PTC168853	DILIP ROADLINES PRIVATE LIMITED	Director	01-10-07	01-10-07	28-12-10	Active	NO
8	U52100DL2007PTC170460	APM Impex Trading Private Limited	Director	15-11-07	15-11-07	-	Active	NO
9	U60231DL2007PTC171058	RRD LOGISTICS PRIVATE LIMITED	Director	04-12-07	04-12-07	30-12-10	Active	NO
10	U60231DL2007PTC171056	RDR LOGISTICS PRIVATE LIMITED	Director	04-12-07	04-12-07	06-01-11	Active	NO
11	U45400DL2008PTC173063	SARV SIDHI BUILDCON PRIVATE LIMITED	Director	23-01-08	23-01-08	-	Active	NO
12	U51900WB2005PTC106253	TARUN VANIJYA PRIVATE LIMITED	Director	23-10-08	23-10-08	-	Active	NO
13	U67110DL2009PTC192246	DRS Holdings Private Limited	Director	15-07-09	15-07-09	-	Active	NO
14	U60200MH2009PTC195674	GAJANAN LOGISTICS CARRIERS PRIVATE LIMITED	Director	10-09-09	10-09-09	-	Active	NO
15	U70102MH2009PTC194961	Granite Realty Private Limited	Director	01-04-12	26-11-09	-	Active	NO
16	U55101DL2009PTC187452	DILLI 6 RESTAURANTS AND RECREATION HOME PRIVATE LIMITED	Additional director	29-03-10	29-03-10	12-06-10	Active	NO
17	U70101MH2010PTC198677	White Bird Realty Private Limited	Director	26-09-11	28-01-11	-	Active	NO

Name :

Mr. Rajender Agarwal

Designation :

Executive Director

Address :

47/A, Yoshadham Bungalow, Goregaon, Mulund, Link Road, Mumbai – 400063, Maharashtra, India

Date of Birth/Age :

31.09.1964

Date of Appointment :

06.09.1991

DIN No.:

00011056

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	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Whole-time director	06-09-91	06-09-91	-	Active	YES
2	U60210AP2002PTC039418	DRS SHIPPING AND AIR CARGO PRIVATE LIMITED	Director	05-08-02	05-08-02	-	Active	YES
3	U63013DL2004PTC124594	DRS TRANSPORT PRIVATE LIMITED	Director	11-02-04	11-02-04	-	Active	NO
4	U63090MH2005PLC154749	AGARWAL PACKERS AND MOVERS LIMITED	Director	31-03-11	13-07-05	06-03-12	Active	NO
5	U74899DL2005PTC141748	APM Infrastructure Private Limited	Director	14-10-05	14-10-05	-	Active	NO
6	U70101DL1990PLC041960	SKYLINE LEASING LIMITED	Director	15-01-07	15-01-07	30-09-09	Active	NO
7	U52100DL2007PTC170460	APM Impex Trading Private Limited	Director	15-11-07	15-11-07	-	Active	NO
8	U60231DL2007PTC171058	RRD LOGISTICS PRIVATE LIMITED	Director	04-12-07	04-12-07	31-12-10	Active	NO
9	U45400DL2008PTC173063	SARV SIDHI BUILDCON PRIVATE LIMITED	Director	23-01-08	23-01-08	-	Active	NO
10	U74120DL2007PTC168853	DILIP ROADLINES PRIVATE LIMITED	Director	29-01-08	29-01-08	31-12-10	Active	NO
11	U63090DL2006PTC153134	DRS WAREHOUSING (NORTH) PRIVATE LIMITED	Nominee director	22-02-08	11-02-08	-	Active	NO
12	U51900WB2005PTC106253	TARUN VANIJYA PRIVATE LIMITED	Director	23-10-08	23-10-08	-	Active	NO
13	U55101DL2009PTC187452	DILLI 6 RESTAURANTS AND RECREATION HOME PRIVATE LIMITED	Director	10-02-09	10-02-09	31-05-11	Active	NO
14	U63010DL2009PTC188152	Chhai Hazar Ek Paanch Hazar Ek Packers and Movers Private Limited	Director	04-03-09	04-03-09	-	Active	NO
15	U67110DL2009PTC192246	DRS Holdings Private Limited	Director	15-07-09	15-07-09	-	Active	NO
16	U60200MH2009PTC195674	GAJANAN LOGISTICS CARRIERS PRIVATE LIMITED	Director	10-09-09	10-09-09	-	Active	NO
17	U63011MH1964GAP012857	BOMBAY GOODS TRANSPORT ASSOCIATION.	Director	29-09-11	29-09-11	-	Active	NO

Name :

Mr. Anjani Kumar Agarwal

Designation :

Director

Address :

Plot No. 68, A.P. text Book Colony Gunrock, Karkhana, Secunderabad, Andhra Pradesh, India

Date of Birth/Age :

11.02.1975

Date of Appointment :

02.09.1996

DIN No.:

00006982

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Director	06-09-91	06-09-91	Active	YES
2	U60210AP2002PTC039418	DRS SHIPPING AND AIR CARGO PRIVATE LIMITED	Director	05-08-02	05-08-02	Active	YES
3	U24232AP2007PTC056660	DRS LABS (INDIA) PRIVATE LIMITED	Director	12-12-07	12-12-07	Active	YES
4	U80211AP2008PTC056959	DRS EDUCATION PRIVATE LIMITED	Director	03-01-08	03-01-08	Active	NO
5	L24230AP1986PLC006781	COMBAT DRUGS LIMITED	Director	30-09-08	17-01-08	Active	NO
6	U45400AP2009PTC063536	EDIFY INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED	Director	05-05-09	05-05-09	Active	NO
7	U80301AP2009PTC063649	MDN EDIFY EDUCATION PRIVATE LIMITED	Director	13-05-09	13-05-09	Active	NO
8	U80902AP2009PTC063755	M D N EDIFY MANAGEMENT PRIVATE LIMITED	Director	26-05-09	26-05-09	Active	NO
9	U60231AP2009PTC064326	DRS DILIP ROADLINES PRIVATE LIMITED	Director	10-07-09	10-07-09	Active	NO
10	U63000AP2009PTC064707	DRS WAREHOUSING (SOUTH) PRIVATE LIMITED	Director	10-08-09	10-08-09	Active	NO
11	U60231AP2009PTC065900	AGARWAL RELOCATORS PRIVATE LIMITED	Director	20-11-09	20-11-09	Active	NO

Name :

Mr. Sanjay Kumar Agarwal

Designation :

Director

Address :

Plot No. 68, A.P. text Book Colony Gunrock, Karkhana, Secunderabad, Andhra Pradesh, India

Date of Birth/Age :

04.08.1978

Date of Appointment :

01.02.1999

DIN No.:

00204750

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	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Director	06-09-91	06-09-91	-	Active	YES
2	U60210AP2002PTC039418	DRS SHIPPING AND AIR CARGO PRIVATE LIMITED	Director	05-08-02	05-08-02	-	Active	YES
3	U63013DL2004PTC124594	DRS TRANSPORT PRIVATE LIMITED	Director	11-02-04	11-02-04	16-06-08	Active	NO
4	U24232AP2007PTC056660	DRS LABS (INDIA) PRIVATE LIMITED	Director	12-12-07	12-12-07	-	Active	YES
5	U80211AP2008PTC056959	DRS EDUCATION PRIVATE LIMITED	Director	03-01-08	03-01-08	-	Active	NO
6	L24230AP1986PLC006781	COMBAT DRUGS LIMITED	Director	30-09-08	17-01-08	-	Active	NO
7	U45400AP2009PTC063536	EDIFY INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED	Director	05-05-09	05-05-09	-	Active	NO
8	U80301AP2009PTC063649	MDN EDIFY EDUCATION PRIVATE LIMITED	Director	13-05-09	13-05-09	-	Active	NO
9	U80902AP2009PTC063755	M D N EDIFY MANAGEMENT PRIVATE LIMITED	Director	26-05-09	26-05-09	-	Active	NO
10	U60231AP2009PTC064326	DRS DILIP ROADLINES PRIVATE LIMITED	Director	10-07-09	10-07-09	-	Active	NO
11	U63000AP2009PTC064707	DRS WAREHOUSING (SOUTH) PRIVATE LIMITED	Director	10-08-09	10-08-09	-	Active	NO
12	U60231AP2009PTC065900	AGARWAL RELOCATORS PRIVATE LIMITED	Director	20-11-09	20-11-09	-	Active	NO

Name :

Mr. Dinesh Kumar Agarwal

Designation :

Director

Address :

Flat 4-8-4, Plot 10 and 11, Arihant Majestic Towers, Jawaharlal Nehru St, Koyambedu, Chennai – 600107, Tamilnadu, India

Date of Birth/Age :

16.08.1981

Date of Appointment :

24.09.2007

DIN No.:

01750345

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	U74899DL2000PTC107846	EXACT CONTAINER LOGISTIC PRIVATE LIMITED	Director	07-11-03	07-11-03	29-12-10	Active	NO
2	U63013DL2004PTC124594	DRS TRANSPORT PRIVATE LIMITED	Director	11-02-04	11-02-04	16-06-08	Active	NO
3	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Director	21-02-08	24-09-07	-	Active	YES
4	U70101DL1990PLC041960	SKYLINE LEASING LIMITED	Director	04-07-09	04-07-09	-	Active	NO
5	U63000DL2011PTC212452	DRS PACKERS AND MOVERS PRIVATE LIMITED	Director	11-01-11	11-01-11	-	Active	NO

Name :

Mr. Vivek Narayan Joshi

Designation :

Nominee Director

Address :

Flat No. 22, 02^nd Floor, Capel Road, Raj Flavia Building, Near lilawati Hospital, Bandra West, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

19.01.1963

Date of Appointment :

05.09.2009

DIN No.:

02629672

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	U85110KA1961PLC001433	BHARAT FRITZ WERNER LIMITED	Nominee director	29-09-09	29-07-09	-	Active	NO
2	U31200TZ1984PTC001476	DYNA SPEDE INTEGRATED SYSTEMS PRIVATE LIMITED	Nominee director	30-07-09	30-07-09	-	Active	NO
3	U17297TN2003PLC051728	SABARE INTERNATIONAL LIMITED	Director	29-09-09	31-07-09	19-08-10	Active	NO
4	U63040AP1991PTC013178	DRS LOGISTICS PRIVATE LIMITED	Director	18-09-09	05-09-09	-	Active	YES
5	U24230MH2000PTC125061	SIRO CLINPHARM PRIVATE LIMITED	Nominee director	30-05-11	30-05-11	-	Active	NO
6	U73100PN2007PTC130929	NOVALEAD PHARMA PRIVATE LIMITED	Nominee director	30-05-11	30-05-11	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Asha Birla
Designation :	Secretary
Address :	H. No. 2-1-60-1, Old Nallakunta Fever Hospital Backside, Hyderabad – 500044, Andhra Pradesh, India
Date of Birth/Age :	29.12.1984
Date of Appointment :	01.08.2008
PAN No.:	AJDPB0362Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 18.09.2009

Names of Shareholders	No. of Shares
Dayanand Agarwal	132765
Ramesh Agarwal	36033
Rajendra Agarwal	58950
Anjani Kumar Agarwal	23265
Sanjay Agarwal	28779
Manju Agarwal	30550
Shashikala Agarwal	18335
Pinky Agarwal	11510
Dayanand Agarwal and Shashikala Agarwal	12000
Ramesh Agarwal and Manju Agarwal	27000
Rajendra Agarwal and Manju Agarwal	30000
Anjani Kumar Agarwal and Pinky Agarwal	6000
Sanjay Agarwal and Shashikala Agarwal	6000
Sunita Agarwal	5996
Saroj Agarwal	2500
Dinesh Agarwal	9150
Packers and Transport Private Limited, India	61950
Paramount Steel, India	81717
Kotak Mahindra Trusteeship Services Limited, India	6500000
Jarir India Investments, Mauritius	900000
LBL Associates, Mauritius	450000
DRS Universal Limited, Mauritius	1799992
Sur International Investments Limited, Mauritius	350000
Total	10582492

AS ON 18.09.2009

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	10.65
Directors or relatives of directors	89.35
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Transportation and Warehousing Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi – 110001, India

Facilities :

Secured Loan	As on 31.03.2008 (Rs. in Millions)	As on 31.03.2007 (Rs. in Millions)
Loans from Banks
-Term Loans	111.738	65.687
-Working Capital Loans	170.793	76.784
-Vehicle Loans	299.621	146.467
Loans from Others	0.000	0.000
-Vehicle Loans	58.923	58.679
Total	641.075	347.617
Unsecured Loan	As on 31.03.2008 (Rs. in Millions)	As on 31.03.2007 (Rs. in Millions)
Other Loans and Advances
- From Directors	1.262	1.197
-Form others	0.309	4.822
Total	1.571	6.019

Banking Relations :	--
Auditors 1 :
Name :	M Anandam and Company Chartered Acountants
Address :	7-A, Surya Towers, S P Road, Secunderabad – 500003, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AACFM8791J
Auditors 2 :
Name :	Ramesh D. Ahuja Chartered Accountant
Address :	206, Kabra Complex, 61 Secunderabad – 500003, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	ABLPA5054E
Associates:	v DRS Warehousing (North) Private Limited
Significant influence by Key Management Personnel :	v DRS Rooftech and Infrastructure Private Limited v DRS Co-operative Housing Society v DRS (Labs) India Private Limited v RRD Roofing and Trading Private Limited v RDR Logistics Private Limited v DNS Local Transport v DRS Development and Construction v Exact Containers Private Limited v Agarwal Packers and Movers Private Limited v DRS Body Building v DRS Projects Private Limited v DRS Educational Society v Seth Meharchand Charitable Trust v Paramount Steels v Sutabh Cargo Carrier v DRS Vidya Samiti (DRS kids) v DRS Shipping and Cargo Private Limited v DRS Packers and Transport Private Limited
Companies having significant influence over DRS :	v India Growth Fund, a unit scheme of Kotak SEAF India Fund

CAPITAL STRUCTURE

AS ON 31.03.2008

Authorised Capital :

No. of Shares	Type	Value	Amount
1001000	Equity Shares	Rs. 100/- each	Rs. 100.100 Millions
10000000	Preference Shares	Rs. 100/- each	Rs. 1000.000 Millions
	Total		Rs. 1100.100 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
582600	Equity Shares	Rs. 100/- each	Rs. 58.260 Millions
9999892	Preference Shares	Rs. 100/- each	Rs. 999.989 Millions
	Total		Rs. 1058.249 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Share Capital		1058.249	798.250	30.000
2] Share Application Money		0.000	224.999	7.452
3] Reserves & Surplus		412.913	226.849	61.230
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1471.162	1250.098	98.682
LOAN FUNDS
1] Secured Loans		641.075	347.617	187.322
2] Unsecured Loans		1.571	6.019	4.069
TOTAL BORROWING		642.646	353.636	191.391
DEFERRED TAX LIABILITIES		51.586	15.246	8.549
TOTAL		2165.394	1618.980	298.622
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		875.295	530.605	227.286
Capital work-in-progress		141.912	2.749	0.000
INVESTMENT		4.059	0.011	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	61.398	59.848	0.090
	Sundry Debtors	654.729	294.150	73.483
	Cash & Bank Balances	43.537	671.864	7.216
	Other Current Assets	5.511	6.048	32.915
	Loans & Advances	498.034	141.646	26.950
Total Current Assets		1263.209	1173.556	140.654
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	66.946	33.215	27.139
	Other Current Liabilities	18.711	3.597	22.118
	Provisions	33.424	56.361	20.061
Total Current Liabilities		119.081	93.173	69.318
Net Current Assets		1144.128	1080.383	71.336
MISCELLANEOUS EXPENSES		0.000	5.232	0.000
TOTAL		2165.394	1618.980	298.622

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2008	31.03.2007	31.03.2006
	SALES
		Direct Income	2598.184	1813.052	1155.450
		Indirect Income	52.628	31.533	8.690
		Prior Period Adjustment	0.000	1.430	0.000
		TOTAL (A)	2650.812	1846.015	1164.140
Less	EXPENSES
		Direct Expenses		1341.333	992.034
		Benefit to Staff		28.406	14.584
		Administrative Expenses		139.343	75.823
		Loss on sale of assets		0.104	0.152
		Miscellaneous Exp written off		0.581	0.000
		Prior Period Adjustment		0.000	0.238
		TOTAL (B)	2152.317	1509.767	1082.831
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		498.495	336.248	81.309
Less	FINANCIAL EXPENSES (D)		81.293	20.318	10.380
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		417.212	315.929	70.930
Less/ Add	DEPRECIATION/ AMORTISATION (F)		97.394	51.340	36.821
	PROFIT BEFORE TAX (E-F) (G)		319.808	264.589	34.109
Less	TAX (H)		133.619	99.911	11.573
	PROFIT AFTER TAX (G-H) (I)		186.189	165.619	22.535
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		207.190	25.015	15.680
Add	Transfer from Capital Reserve		0.000	33.157	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	10.000	16.600	13.200
		Proposed Dividend	12.500	0.000	0.000
	BALANCE CARRIED TO THE B/S		383.254	207.190	25.015
	Earnings Per Share (Rs.)		319.37	284.27	N.A.

KEY RATIOS

PARTICULARS		31.03.2008	31.03.2007	31.03.2006
PAT / Total Income	(%)	7.02	8.97	1.94
Net Profit Margin (PBT/Sales)	(%)	12.31	14.59	2.95
Return on Total Assets (PBT/Total Assets}	(%)	14.95	15.53	9.27
Return on Investment (ROI) (PBT/Networth)		0.22	0.21	0.35
Debt Equity Ratio (Total Liability/Networth)		0.52	0.36	2.64
Current Ratio (Current Asset/Current Liability)		10.61	12.60	2.03

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constitution 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	Yes
10. Designation of contact person	Yes
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	No
21. Market information	--
22. Litigations that the firm / promoter involved	--
23. Banking Details	Yes
24. Banking facility details	Yes
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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U63040AP1991PTC013178
Name of the company	DRS LOGISTICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	321, Kabra Complex MG Road, Secunderabad - 500003, Andhra Pradesh, India
This form is for	Creation of charge
Type of charge	Others (Corporate Guarantee)
Particular of charge holder	State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi – 110001, India Email ID: ramesh.paliwal@sbi.co.in
Nature of description of the instrument creating or modifying the charge	i) Deed of Guarantee for Rs.80.900 millions only
Date of instrument Creating the charge	29.03.2010
Amount secured by the charge	Rs.80.900 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of interest as per bank rules, subject to change from time to time. Terms of Repayment Payable on demand. Margin As prescribed by the bank from time to time. Extent and Operation of the charge The charge operates till the repayment of all the dues together with interest and all other charges in respect of credit facilities availed / to be availed by the Agarwal Packers and Movers Private Limited from the bank upto Rs.80.900 millions only.
Short particulars of the property charged	Corporate Guarantee of the company upto Rs.80.900 millions to secure working capital facilities provided by the Bank to Agarwal Packers and Movers Private Limited

PERFORMANCE OF THE COMPANY

The Company’s performance has significantly improved as compared to the previous year.

During the year the company has achieved a total income (net) of Rs. 2598.100 millions as compared to Rs. 1801.500 millions in the previous year. The Profit before tax has been increased from Rs. 285.530 millions in the previous year as compared to Rs. 319.809 millions in the Current year.

The net profit after tax has also improved to Rs. 165.619 millions in the previous year.

The EPS of the Company has increased to Rs. 319.37 as compared to Rs. 284.32 in the previous year.

The paid up share capital of the Company has increased to Rs. 1058.200 millions as compared to Rs. 79820.000 millions in the previous year. The necessary filings are made in the Registrar of Companies in this regard.

CONTINGENT LIABILITIES

As at March 31, 2008 the company has issued Rs. 9.910 millions (Previous Year Rs. 7.399 millions) Series “A” 0.01% redeemable optionally convertible cumulative preference shares (“the preference shares”) of Rs. 100/- each fully paid up aggregating to Rs. 999.989 Millions

In Accordance with the terma and conditions of the issue and subject to the provisions of the Act, the preferences shares are convertible, in part or full, into equity shares to be issued on conversion, is determinable based on certain criteria for valuation of equity shares as defined under the agreement or

Redeemable, not earlier than forty two months from the date of issue, at an amount such that the holders of preference shares shall receive an annual return of fifteen percent from the date of investments to the date of redemption.

The preference shares are redeemable at an annual premium of fifteen percent of its principal amount. The payment of premium on redemption is contingent in nature, the outcome of which is dependent on uncertain future events. Hence, no provision is considered in the accounts in respect of such premium for the year amounting to Rs. 164.398 millions (Previous Year Rs. 13.713 millions) at the balance sheet date.

Fixed Assets

v Goodwill

v Freehold Land

v Leasehold Land

v Building

v Plant and Machinery

v Office Equipments

v Trucks

v Containers

v Furniture and Fixtures

v Vehicle

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 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. 55.73
UK Pound	1	Rs. 87.26
Euro	1	Rs. 69.89

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	BVA

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.