MIRA INFORM REPORT

Report Date :

06.09.2012

IDENTIFICATION DETAILS

Name :	GREENKO ENERGIES PRIVATE LIMITED
Formerly Known As :	SRIBALAJI BIOMASS POWER PRIVATE LIMITED
Registered Office :	Plot No. 1071, Road No. 44, Jubilee Hills, Hyderabad-500033, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.07.2000
Com. Reg. No.:	01-034990
Capital Investment / Paid-up Capital :	Rs.2643.350 Millions
CIN No.: [Company Identification No.]	U40109AP2000FTC034990
Legal Form :	Private Limited Liability Company
Line of Business :	Generation of Power.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 32400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a subsidiary of Greenko Mauritius. It is an established company having satisfactory track. It has achieved a better increase in its sales turnover and profits during 2011. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BB [Working Capital Demand Loan]
Rating Explanation	Moderate risk of default.
Date	30.03.2011

Rating Agency Name	CRISIL
Rating	BB [Term Loan]
Rating Explanation	Moderate risk of default.
Date	30.03.2011

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ 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 :	Plot No. 1071, Road No. 44, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India
Tel. No.:	91-40-32915858/40301263/40301000/32946868/23552263/23552264
Fax No.:	91-40-23555503/23540287
E-Mail :	info@greenkogroup.com
Website :	http://www.greenkogroup.com
Factory :	Kokkirayapalli Road, Chennur Kadapa-516162, Andhra Pradesh, India
Tel No.:	91-8562-232222/ 232223

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Anil Kumar Chalamalasetty

Designation :

Director

Address :

Plot No. 63, Aswani Layout, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India

Date of Birth/Age :

07.11.1974

Date of Appointment :

03.08.2009

Din No.:

00220806

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	U72200AP2005PTC046226	DIGI TELE NETWORKS PRIVATE LIMITED	Director	13/05/2005	13/05/2005	27/02/2010	Active	NO
2	U74140AP2005PTC046377	GREEN ENRICH EC0-SOLUTIONS PRIVATE LIMITED	Director	30/05/2005	30/05/2005	06/03/2010	Dormant	NO
3	U40109AP2006PTC048989	GREENKO POWER PRIVATE LIMITED	Director	02/02/2006	02/02/2006	-	Amalgamated	NO
4	U40109AP2004PTC042942	SURYA KIRAN POWER PROJECTS PRIVATE LIMITED	Director	30/09/2006	28/04/2006	-	Amalgamated	NO
5	U40109AP2000PTC035082	RAVIKIRAN POWER PROJECTS PRIVATE LIMITED	Director	29/09/2007	27/05/2006	-	Active	NO
6	U40109AP2000FTC034990	GREENKO ENERGIES PRIVATE LIMITED	Director	15/12/2008	03/08/2006	-	Active	NO
7	U40109AP1999FTC032637	KMS POWER PRIVATE LIMITED	Director	28/09/2007	20/11/2006	-	Amalgamated	NO
8	U74140AP1998PTC030252	ALSACE ENGINEERING COMPANY PRIVATE LIMITED	Director	05/02/2007	05/02/2007	06/03/2010	Active	NO
9	U63030AP2007PTC053761	NEO SHIPPING AND OFFSHORE SERVICES PRIVATE LIMITED	Director	25/04/2007	25/04/2007	06/03/2010	Strike off	NO
10	U93030AP2007PTC053766	NEO HOSPITALITY SERVICES PRIVATE LIMITED	Director	25/04/2007	25/04/2007	06/03/2010	Active	NO
11	U63032AP2007PTC053762	NEO BOATS AND TOURISM SERVICES PRIVATE LIMITED	Director	25/04/2007	25/04/2007	06/03/2010	Active	NO
12	U40109AP1998PTC030615	ROSHNI POWERTECH PRIVATE LIMITED	Director	18/09/2008	27/06/2007	-	Active	NO
13	U40109AP2003PTC041823	ECOFREN POWER AND PROJECTS Private LIMITED	Director	22/09/2008	31/08/2007	-	Active	NO
14	U40109AP2003PTC041868	ISA POWER PRIVATE LIMITED	Director	22/09/2008	31/08/2007	-	Active	NO
15	U40109AP2000PTC034519	VISVESWARAYYA GREEN POWER PRIVATE LIMITED	Director	22/09/2008	29/09/2007	-	Active	NO
16	U40100AP2004PTC044778	RITHWIK ENERGY GENERATION PRIVATE LIMITED	Director	22/09/2008	04/12/2007	-	Active	NO
17	U40300DL2001PTC110254	TECHNOLOGY HOUSE (INDIA) PRIVATE LIMITED	Director	24/09/2009	20/01/2008	-	Active	NO
18	U93000AP2008PTC060426	GREENKO ENERGY SUPPORT SERVICES PRIVATE LIMITED	Director	01/08/2008	01/08/2008	-	Active	NO
19	U70102AP2008PTC060619	GREENKO INFRASTRUCTURE PRIVATE LIMITED	Director	14/08/2008	14/08/2008	-	Active	NO
20	U40109KA2003PTC032391	JASPER ENERGY PRIVATE LIMITED	Director	26/09/2009	11/11/2008	16/04/2010	Active	NO

Name :

Mr. Mahesh Kolli

Designation :

Director

Address :

No. 41, Deardon Way, Reading, Deardon Way, Reading, UK

Date of Birth/Age :

20.07.1975

Date of Appointment :

03.08.2006

Din No.:

01412010

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	U40109AP2006PTC048989	GREENKO POWER PRIVATE LIMITED	Director	18/02/2006	18/02/2006	-	Amalgamated	NO
2	U40109AP2004PTC042942	SURYA KIRAN POWER PROJECTS PRIVATE LIMITED	Director	30/09/2006	28/04/2006	-	Amalgamated	NO
3	U40109AP2000PTC035082	RAVIKIRAN POWER PROJECTS PRIVATE LIMITED	Director	29/09/2007	27/05/2006	-	Active	NO
4	U40109AP2000FTC034990	GREENKO ENERGIES PRIVATE LIMITED	Director	29/09/2006	03/08/2006	-	Active	NO
5	U40109AP1999FTC032637	KMS POWER PRIVATE LIMITED	Director	28/09/2007	20/11/2006	-	Amalgamated	NO
6	U40109AP1998PTC030615	ROSHNI POWERTECH PRIVATE LIMITED	Director	18/09/2008	27/06/2007	-	Active	NO
7	U40109AP2003PTC041823	ECOFREN POWER AND PROJECTS Private LIMITED	Director	22/09/2008	31/08/2007	-	Active	NO
8	U40109AP2003PTC041868	ISA POWER PRIVATE LIMITED	Director	22/09/2008	31/08/2007	-	Active	NO
9	U40109AP2000PTC034519	VISVESWARAYYA GREEN POWER PRIVATE LIMITED	Director	22/09/2008	29/09/2007	-	Active	NO
10	U40101KA2004PTC034818	AMR POWER PRIVATE LIMITED	Director	19/09/2008	04/12/2007	-	Active	NO
11	U70102AP2008PTC060619	GREENKO INFRASTRUCTURE PRIVATE LIMITED	Director	14/08/2008	14/08/2008	-	Active	NO
12	U40109KA2003PTC032391	JASPER ENERGY PRIVATE LIMITED	Director	26/09/2009	11/11/2008	16/04/2010	Active	NO
13	U40101KA2008PTC048223	KUKKE HYDRO PROJECTS PRIVATE LIMITED	Director	26/09/2009	30/03/2009	-	Active	NO
14	U40109AP2000PTC034407	SAI TEJA ENERGIES PRIVATE LIMITED	Director	29/09/2009	30/03/2009	09/01/2010	Active	NO
15	U40101KA2009PTC050152	PERLA HYDRO POWER PRIVATE LIMITED	Director	17/06/2009	17/06/2009	11/11/2010	Active	NO
16	U40109DL2000PTC231172	SNEHA KINETIC POWER PROJECTS PRIVATE LIMITED	Director	30/09/2010	02/12/2009	-	Active	NO
17	U40102KA2010PTC052430	GREENKO WIND PROJECTS PRIVATE LIMITED	Director	09/02/2010	09/02/2010	-	Active	NO
18	U40102KA2010PTC052663	MANGALORE ENERGIES PRIVATE LIMITED	Director	23/02/2010	23/02/2010	-	Active	NO
19	U40100AP1996PTC023552	L V S POWER PRIVATE LIMITED	Director	09/08/2010	03/03/2010	-	Active	NO
20	U40105KA2002PTC030502	SAI SPURTHI POWER PRIVATE LIMITED	Director	30/08/2010	22/03/2010	-	Active	NO

Name :

Mr. Purushotham Choppakatla

Designation :

Whole Time Director

Address :

Plot No. 46, P and T Colony, Gandhi Nagar, Hyderabad-500080, Andhra Pradesh, India

Date of Birth/Age :

18.02.1954

Date of Appointment :

01.11.2008

Din No.:

01317059

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	U40109AP2003PTC041823	ECOFREN POWER AND PROJECTS Private LIMITED	Director	22/09/2008	31/08/2007	24/08/2009	Active	NO
2	U40109AP2000PTC035082	RAVIKIRAN POWER PROJECTS PRIVATE LIMITED	Nominee director	13/08/2012	27/12/2007	-	Active	NO
3	U40300DL2001PTC110254	TECHNOLOGY HOUSE (INDIA) PRIVATE LIMITED	Alternate director	20/01/2008	20/01/2008	25/02/2009	Active	NO
4	U40101KA2004PTC034818	AMR POWER PRIVATE LIMITED	Additional director	10/03/2008	10/03/2008	30/03/2008	Active	NO
5	U40109AP1998PTC030615	ROSHNI POWERTECH Private LIMITED	Director	18/09/2008	10/03/2008	24/08/2009	Active	NO
6	U40100AP2004PTC044778	RITHWIK ENERGY GENERATION PRIVATE LIMITED	Nominee director	12/12/2011	11/03/2008	-	Active	NO
7	U31100KA2008PTC045946	VYSHALI ENERGY PRIVATE LIMITED	Nominee director	03/05/2012	04/04/2008	-	Active	NO
8	U11100PB2008PTC031997	SUNAM POWER PRIVATE LIMITED	Director	11/06/2008	11/06/2008	-	Active	NO
9	U93000AP2008PTC060426	GREENKO ENERGY SUPPORT SERVICES PRIVATE LIMITED	Director	01/08/2008	01/08/2008	-	Active	NO
10	U40101HP2008PTC030958	GREENKO HATKOTI ENERGY PRIVATE LIMITED	Nominee director	02/09/2008	02/09/2008	-	Active	NO
11	U40109AP2000FTC034990	GREENKO ENERGIES PRIVATE LIMITED	Whole-time director	30/09/2009	01/11/2008	-	Active	NO
12	U40109KA2003PTC032391	JASPER ENERGY PRIVATE LIMITED	Director	26/09/2009	11/11/2008	-	Active	NO
13	U40101HP2008PTC030913	SIDHIDATRI HYDRO POWER VENTURES PRIVATE LIMITED	Director	20/03/2009	20/03/2009	23/08/2010	Active	NO
14	U40101PB2008PTC032051	KATYAYNI HYDRO POWER VENTURES PRIVATE LIMITED	Director	20/03/2009	20/03/2009	15/09/2010	Active	NO
15	U40100AP1996PTC023552	L V S POWER PRIVATE LIMITED	Director	09/08/2010	03/03/2010	-	Active	NO
16	U40105KA2002PTC030502	SAI SPURTHI POWER PRIVATE LIMITED	Director	30/08/2010	22/03/2010	-	Active	NO
17	U45200AP1989PTC047103	ASTHA PROJECTS (INDIA ) PRIVATE LIMITED	Director	30/08/2010	01/04/2010	-	Active	NO
18	U40101KA2001PTC029335	HEMAVATHY POWER AND LIGHT PRIVATE LIMITED	Director	29/09/2011	13/07/2010	-	Active	NO
19	U40105PN2010PTC139797	RATNAGIRI WIND POWER PROJECTS PRIVATE LIMITED	Director	24/09/2011	01/11/2010	-	Active	NO
20	U02000MH2010PTC210044	SATARA AGRO FARM PROJECTS PRIVATE LIMITED	Director	14/11/2010	14/11/2010	-	Active	NO
21	U01403MH2010PTC210360	SURENDRA PLANTATIONS PRIVATE LIMITED	Director	27/11/2010	27/11/2010	-	Active	NO
22	U01122MH2010PTC210526	RATNAGIRI HORTICULTURE PRIVATE LIMITED	Director	02/12/2010	02/12/2010	-	Active	NO
23	U40104PN2010PTC137910	DWARKAMAI WIND POWER PRIVATE LIMITED	Director	03/12/2010	03/12/2010	-	Active	NO
24	U40300AP2010PTC068872	GREENKO GODAVARI POWER PROJECTS PRIVATE LIMITED	Director	05/09/2011	15/12/2010	-	Active	NO
25	U40101KA2005PTC036626	FORTUNE FIVE HYDEL PROJECTS PRIVATE LIMITED	Director	02/09/2011	21/02/2011	-	Active	NO
26	U40102KA2010PTC052430	GREENKO WIND PROJECTS PRIVATE LIMITED	Additional director	05/12/2011	05/12/2011	-	Active	NO
27	U40108AP2008PTC059988	GUTTASEEMA WIND ENERGY COMPANY PRIVATE LIMITED	Nominee director	24/12/2011	24/12/2011	-	Active	NO
28	U40102AP2008PTC062366	RAYALASEEMA WIND ENERGY COMPANY PRIVATE LIMITED	Nominee director	07/01/2012	07/01/2012	-	Active	NO
29	U40108AP2008PTC062401	BELUM WIND INFRASTRUCTURE PRIVATE LIMITED	Nominee director	07/01/2012	07/01/2012	-	Active	NO
30	U40108AP2010PTC066976	TANOT WIND POWER VENTURES PRIVATE LIMITED	Nominee director	10/01/2012	10/01/2012	-	Active	NO
31	U40108AP2010PTC071897	RAYALA WIND POWER COMPANY PRIVATE LIMITED	Nominee director	10/01/2012	10/01/2012	-	Active	NO
32	U40108AP2010PTC071664	ANIMALA WIND POWER PRIVATE LIMITED	Nominee director	10/01/2012	10/01/2012	-	Active	NO
33	U40109AP2002PTC039580	HIM KAILASH HYDRO POWER PRIVATE LIMITED	Nominee director	01/04/2012	01/04/2012	-	Active	NO
34	U40102AP2006PTC051238	TEJASSARNIKA HYDRO ENERGIES PRIVATE LIMITED	Nominee director	04/04/2012	02/04/2012	-	Active	NO
35	U40104AP2004PLC044282	TARELA POWER LIMITED	Nominee director	04/04/2012	02/04/2012	-	Active	NO
36	U25199AP1985PTC005232	CIMARON CONSTRUCTIONS PRIVATE LIMITED	Nominee director	04/04/2012	02/04/2012	-	Active	NO
37	U40109AP2002PTC047104	A T HYDRO PRIVATE LIMITED	Nominee director	04/04/2012	02/04/2012	-	Active	NO
38	U40108KA2008PTC046337	KUMARADHARA POWER PRIVATE LIMITED	Director	02/05/2012	02/05/2012	-	Active	NO
39	U40101HP2012PTC000166	BHARMOUR HYDRO PROJECTS PRIVATE LIMITED	Director	19/06/2012	19/06/2012	-	Active	NO
40	U40101HP2012PTC000165	HARSAR HYDRO PROJECTS PRIVATE LIMITED	Director	19/06/2012	19/06/2012	-	Active	NO

Name :

Mr. Vivekananda Nandamudi

Designation :

Director

Address :

70-15-44, Suresh Nagar, Near RTO Office, Kakinada, Andhra Pradesh, India

Date of Birth/Age :

09.06.1951

Date of Appointment :

17.01.2011

Din No.:

03364908

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	Company/ LLP Status	Defaulting status
1	U40109AP2003PTC041823	ECOFREN POWER AND PROJECTS PRIVATE LIMITED	Director	26/09/2011	23/12/2010	Active	NO
2	U40109AP2003PTC041868	ISA POWER PRIVATE LIMITED	Director	26/09/2011	23/12/2010	Active	NO
3	U40109AP1998PTC030615	ROSHNI POWERTECH PRIVATE LIMITED	Whole-time director	23/09/2011	01/01/2011	Active	NO
4	U40109AP2000FTC034990	GREENKO ENERGIES PRIVATE LIMITED	Director	30/09/2011	17/01/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Purushotham Choppakatla
Designation :	Company Secretary
Address :	Plot No. 46, P and T Colony, Gandhi Nagar, Hyderabad-500080, Andhra Pradesh, India
Date of Birth/Age :	18.02.1954
Date of Appointment :	30.03.2007

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	Address of Shareholders	No. of Shares
Greenko Mauritius	No. 5, Rogers House, President John Kennedy Street, Port Louis, Republic of Mauritius	273800023
Anil Kumar Chalamalasetty	Plot No. 63, Aswani Layout, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India	10
TOTAL		273800033

AS ON 28.02.2012

Names of Allottees	Address of Allottees	No. of Shares
Greenko Mauritius	No. 5, Rogers House, President John Kennedy Street, Port Louis, Republic of Mauritius	11267875
TOTAL		11267875

AS ON 30.09.2011

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

BUSINESS DETAILS

Line of Business :

Generation of Power.

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	As on 31.03.2011
Licensed Capacity *	12 MW
Installed Capacity *	12 MW
Actual Production (Million KWH)	81.85
Units Sold (Million KWH)	71.87

NOTE: * The details of Licensed and Installed Capacity are as certified by the managment.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Indian Overseas Bank, R.P. Road Branch, Secunderabad, Andhra Pradesh, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loans banks	366.577	26.578
Rupee term loans financial institution	41.720	67.687
Loans taken for fixed assets	0.000	1.811
Foreign currency loans	25.515	37.055
Interest accrued due	3.716	1.037
Other debts [(A) secured against fixed deposit receipts]	0.000	35.019 (A)
TOTAL	437.528	169.187

Banking Relations :	--
Auditors :
Name :	Price Water House Chartered Accountants
Address :	Building 8, 7^th and 8^th Floor, Tower B, DLF Cyber City, Gurgaon-122002, Haryana, India
Pan No.:	AAEFP5579P
Holding Company :	Greenko Mauritius
Ultimate Holding Company :	Greenko Group Plc
Fellow Subsidiaries :	· Black Hawk Corporation · Glory Corporation Limited · Hemavathy Power and Light Private Limited* · Rithwik Energy Generation Private Limited · Tanco Limited
Subsidiaries :	· AMR Power Private Limited [U40101KA2004PTC034818] · Astha Projects (India) Private Limited [U45200AP1989PTC047103] · Ecofren Power and Projects Private Limited [U40109AP2003PTC041823] · Fortune Five Hydel Projects Private Limited* [U40101KA2005PTC036626] · Greenko Godavari Power Projects Private Limited* [U40300AP2010PTC068872] · Greenko Hatkoti Energy Private Limited [U40101HP2008PTC030958] · Greenko Wind Projects Private Limited* [U40102KA2010PTC052430] · ISA Power Private Limited [U40109AP2003PTC041868] · Jasper Energy Private Limited [U40109KA2003PTC032391] · Kukke Hydro Projects Private Limited [U40101KA2008PTC048223] · L V S Power Private Limited [U40100AP1996PTC023552] · Ratnagiri Wind Power Projects Private Limited* [U40105PN2010PTC139797] · Ravikiran Power Projects Private Limited [U40109AP2000PTC035082] · Roshni Powertech Private Limited [U40109AP1998PTC030615] · Sai Spurthi Power Private Limited [U40105KA2002PTC030502] · Sai Teja Energies Private Limited* [U40109AP2000PTC034407] · Sneha Kinetic Power Projects Private Limited [U40109AP2000PTC034323] · Technology House (India) Private Limited [U40300DL2001PTC110254] · Visveswarayya Green Power Private Limited [U40109AP2000PTC034519] * Relationship with the above mentioned parties has come into existence during the current year.

CAPITAL STRUCTURE

AFTER 30.09.2011

Authorised Capital : Rs.3400.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.3217.642 Millions

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
285000000	Equity Shares	Rs. 10/- each	Rs.2850.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
273800033	Equity Shares	Rs. 10/- each	Rs.2738.000 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
265000000	Equity Shares	Rs. 10/- each	Rs.2650.000

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
264335033	Equity Shares	Rs. 10/- each	Rs.2643.350 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		2643.350	1434.448	1114.000
2] Share Application Money		378.600	3552.475	578.015
3] Reserves & Surplus		5089.031	1424.247	1102.012
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		8110.981	6411.170	2794.027
LOAN FUNDS
1] Secured Loans		437.528	169.187	196.866
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		437.528	169.187	196.866
DEFERRED TAX LIABILITIES		23.062	21.044	18.111
TOTAL		8571.571	6601.402	3009.004
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		358.542	365.655	383.200
Capital work-in-progress		16.181	15.701	6.372
INVESTMENT		5548.618	2750.224	992.786
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	33.702	30.414	18.576
	Sundry Debtors	81.110	75.937	82.930
	Cash & Bank Balances	665.933	704.183	602.363
	Other Current Assets	13.941	6.175	11.140
	Loans & Advances	2626.011	2828.004	1044.650
Total Current Assets		3420.697	3644.713	1759.659
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	769.490	172.646	131.468
	Other Current Liabilities	1.343	1.507	0.499
	Provisions	1.634	0.738	1.046
Total Current Liabilities		772.467	174.891	133.013
Net Current Assets		2648.230	3469.822	1626.646
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8571.571	6601.402	3009.004

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	511.216	286.261	222.535
		Other Income	61.149	41.302	28.791
		TOTAL (A)	572.365	327.563	251.326
Less	EXPENSES
		Generation Expenses	426.505	167.447	131.626
		Administrative Expenses		75.710	44.902
		TOTAL (B)	426.505	243.157	176.528
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		145.860	84.406	74.798
Less	FINANCIAL EXPENSES (D)		68.510	51.426	21.836
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		77.350	32.980	52.962
Less/ Add	DEPRECIATION/ AMORTISATION (F)		27.034	27.294	25.790
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		50.316	5.686	27.172
Less	TAX (H)		12.237	3.899	6.563
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		38.079	1.787	20.609
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	81.802	61.193
	BALANCE CARRIED TO THE B/S		NA	83.589	81.802
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	12.484	20.377	NA
	Earnings / (Loss) Per Share (Rs.) (Basic)		0.14	0.01	0.36
	Earnings / (Loss) Per Share (Rs.) (Diluted)		0.14	0.01	0.24

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.65	0.55	8.20
Net Profit Margin (PBT/Sales)	(%)	9.84	1.99	12.21
Return on Total Assets (PBT/Total Assets}	(%)	1.33	0.14	1.27
Return on Investment (ROI) (PBT/Networth)		0.01	0.00	0.01
Debt Equity Ratio (Total Liability/Networth)		0.15	0.05	0.12
Current Ratio (Current Asset/Current Liability)		4.43	20.84	13.23

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
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
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE:

The registered office of the company has been shifted from 1-8-50/2/4/1, Plot No. 32, Krishna Nagar Colony, 137, Prenderghast Road, Secunderabad-500003, Andhra Pradesh, India to the present address w.e.f. 01.11.2006.

OPERATIONS AND BUSINESS:

The Company is doing well as an operating Company, operating two Bio-mass projects and trading in Emission Reductions. Though it has a Trade license to trade in power, the company has not started the trading and is in the process of establishing a suitable platform for this. The Company as a holding Company of the Greenko Group Companies in India is doing very well. Greenko Group has an operating capacity of about 183 MW in total in Clean Energy Sector. It is implementing many more Hydel and Wind Power Projects ranging from 9.6 MW to 96 MW in the states of Maharashtra, Sikkim, Karnataka, Andhra Pradesh and Rajasthan. The Group has plans to implement more than 500 MW of Clean Energy Projects during the next 3 years. Greenko Mauritius, the parent company, is committed to infuse required Equity funds for these projects.

FUTURE PROSPECTS:

The Directors have long drawn plans for the growth of the company and to establish new units and Trading in Power. The Company is in the process of acquiring many more power projects, either under development or operational. Greenko Mauritius, the holding company would continue to supply funds in the form of equity to finance the acquisitions.

INCREASE OF AUTHORIZED CAPITAL:

The Company increased its authorized Capital to Rs.2850.000 Millions with the due approval of members, subsequent to March 31, 2011

CONTINGENT LIABILITIES:

a) Contingent Liability – Towards Income Tax Demand – with respect to Revenue Recognition - Disputed by the Company – Rs. 30.092 Millions (2010 – Rs.11.875 Millions).

b) Corporate Guarantees and Pledge of Fixed Deposits given in favour of Bankers for their loans to the Subsidiaries and Other Companies – Rs.6648.381 Millions (2010 – Rs. 2374.798 Millions)

c) As per the Share Purchase Agreement dated March 26, 2008 entered into between the Company, Greenko Mauritius, Ravikiran Power Projects Private Limited (Ravikiran) and the shareholders of Ravikiran, in addition to the purchase price of Rs.36,000,000 paid towards acquisition of 3,600,000 equity shares of Rs.10 each (included in the Schedule 5), Company is liable to pay an additional amount relating to collection of disputed debtors and amounts received towards state capital subsidy in the books of Ravikiran, based on transfer of land in favour of Ravikiran, which is presently in the personal name of the Director. Accordingly pending transfer of land in favour of the company and recoveries as may be made in future, in respect of the aforesaid disputed debtors and recovery of state capital subsidy, additional payments may be required to be made and added to the cost of investment which is not ascertainable at present. However, the overall obligations on all the referred matters aggregate to Rs. 14.850 Millions.

d) As per the Share Purchase Agreement dated June 25, 2007 entered into between the Company, Roshni Powertech Private Limited (Roshni) and the shareholders of Roshni, in addition to the purchase price of Rs.115.000 Millions paid towards acquisition of 11,500,000 equity shares of Rs.10 each, paid to the share holders of Roshni (included under Investments in Schedule 5), Company is liable to pay additional amounts based on recoveries from certain disputed debtors in the books of Roshni. Pursuant to the aforesaid agreement, a sum of Rs.4.684 Millions has been paid to the share holders of Roshni (i.e., on recovery of equivalent amount, out of total disputed debtors of Rs.71.917 Millions in the books of Roshni) and added to the cost of Investments in Roshni during the year 2009-10. Further based on the recoveries, if any, made in future, in respect of the aforesaid disputed debtors, additional payments may be required to be made and added to the cost of investment which is not ascertainable at present.

e) As at March 31, 2011, the Company has a contractual commitment deliver 324,436 (2010 – Nil) Emission Reductions to a third party at a fixed price. If the Company is unable to generate sufficient quantities of Emission Reductions (ERs) to fulfill its remaining contractual commitment to the third party, the ERs would need to be sourced from elsewhere by the Company. Whilst the projected cost of these alternate ERs is indeterminable, it is possible that the Company would have to acquire the ERs at market prices in excess of their contractual sales value.

FIXED ASSETS:

• Freehold Land
• Buildings
• Plant and Machinery
• Office Equipment
• Furniture and Fixtures
• Vehicles
• Computers

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.55.90
UK Pound	1	Rs.88.63
Euro	1	Rs.70.03

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		41

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.