MIRA INFORM REPORT

Report Date :

03.04.2013

IDENTIFICATION DETAILS

Name :	MADHUCON GRANITES LIMITED (w.e.f. 28.03.1994)
Formerly Known As :	MADHU MINERALS TRADING COMPANY LIMITED (w.e.f. 09.02.1994) MADHU MINERALS TRADING COMPANY PRIVATE LIMITED
Registered Office :	1-7-70, Jubilee Pura, Khammam – 507 003, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.02.1988
Com. Reg. No.:	01-8311
Capital Investment / Paid-up Capital :	Rs.150.000 millions
CIN No.: [Company Identification No.]	U13209AP1988PLC008311
TAN No.: [Tax Deduction & Collection Account No.]	HYDM02242C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Granites.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 6993108
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of Madhucon Group. It is a well established and reputed company having a good track record. There appears sharp fall in the profitability during 2011-2012. However, general financial position of the company is strong liquidity position of the company is good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual trade terms and condition.

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	ICRA
Rating	BBB+
Rating Explanation	Moderate Degree of safety regarding timely securing of financial obligation. It carry moderate credit risk.
Date	March 2012

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.

INFORMATION DECLINED BY

Name :	Ms. Raymond
Designation :	Marketing Executive
Contact No.:	91-8742-233108

LOCATIONS

Registered Office :	1-7-70, Jubilee Pura, Khammam – 507 003, Andhra Pradesh, India
Tel. No.:	91-8742-225141 / 233108 / 225381
Fax No.:	91-8742-224408
E-Mail :	marketing@madhucongranites.com info@madhucongranites.com hyd1_madhucon@sancharnet.in madhucon@hd1.vsnl.net.in madhucongranites@gmail.com madhucongranites@sancharnet.in csinfra@madhucon.com
Website :	http://www.madhucongranites.com
Location :	Owned
Head Office :	D-27, East of Kailash, New Delhi - 110 065, India
Tel. No.:	91-11-26425507 / 26425820
Location :	Owned
Corporate Office :	Madhucon House, Plot: 1129/A, Road No: 36, Hitec City Road, Jubilee Hills, Hydrabad - 500 034, Andhra Pradesh, India
Tel. No.:	91-40-23556001 / 2 / 3 / 4
Fax No.:	91-40-23556005
Website:	http://www.madhucon.com
Factory 1 :	Beside D. No. 135, Addakurukki (V), Kamanadoddi (Po.) Hosur (Tq), Krishnagiri (District) 635 109, Tamil Nadu, India
Tel. No.:	91-4344-200631 / 33 / 34 / 35
Fax No.:	91-4344-200632 / 257309
Location :	Owned
Factory 2 :	Gollagudem Village, Khammam Rural Mandal, Kammam District, Andhra Pradesh, India
Location :	Owned

DIRECTORS

As on 30.09.2012

Name :	Mr. Nama Krishnaiah
Designation :	Managing Director
Address :	H. No. 339, 5^th Main, 1^st Block, Koramangala, Bangalore – 560 034, Karnataka, India
Date of Birth/Age :	15.12.1967
Date of Appointment :	15.05.2004
DIN No.:	00022778

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	U51909AP1990PLC011796	Nama Properties Limited	Managing director	01-10-08	26-09-90	-	Active	NO
2	U65993AP1993PLC016360	Nama Investments Limited	Director	29-09-93	29-09-93	-	Active	NO
3	U13209AP1999PTC031622	Varalakshmi Granites Private Limited	Managing director	04-05-99	04-05-99	19-03-10	Active	NO
4	U15427AP2002PLC039859	Madhucon Sugar And Power Industries Limited	Whole-time director	01-04-09	05-11-02	-	Active	NO
5	U45200AP1998PLC029310	MBN-Anchored Earth Limited	Director	05-03-04	05-03-04	22-03-10	Active	NO
6	U13209AP1988PLC008311	Madhucon Granites Limited	Managing director	01-04-09	15-05-04	-	Active	NO
7	U70102AP2005PLC045060	Madhucon Land Developers Limited	Director	15-01-05	15-01-05	19-03-10	Active	NO
8	U45200AP2005PLC045366	Madhucon Properties Limited	Director	15-02-05	15-02-05	19-03-10	Active	NO
9	U72200AP2000PLC034060	Madhucon Infotech Limited	Director	28-03-06	28-03-06	-	Active	NO
10	U40101AP2005PTC048264	Simhapuri Energy Private Limited	Whole-time director	14-04-07	14-04-07	-	Active	NO
11	U45309AP2000PLC034007	Madhucon Energy Limited	Director	01-07-07	01-07-07	-	Active	NO
12	U45209AP2007PTC056733	Madhucon Heights Private Limited	Director	18-12-07	18-12-07	-	Active	NO
13	U55101AP2007PTC056818	Nama Hotels Private Limited	Director	24-12-07	24-12-07	19-03-10	Active	NO
14	U74999AP2008PLC059009	Madhucon Mineral Resources Limited	Director	06-05-08	06-05-08	-	Active	NO
15	U74900AP2008PTC059203	NNR Infra Investments Private Limited	Director	16-05-08	16-05-08	-	Active	NO
16	U45200AP2006PLC049235	Madhucon Infra Limited	Director	03-10-09	03-10-09	14-11-09	Active	NO
17	U45203AP2005PLC045689	Madhucon Agra-Jaipur Expressways Limited	Director	24-07-10	16-12-09	-	Active	NO
18	U93000AP2008PLC060479	Madhucon Toll Highways Limited	Director	29-09-10	16-12-09	-	Active	NO
19	U40108AP2010PTC066560	Rajanagaram Gas Power Private Limited	Director	05-01-10	05-01-10	-	Active	NO
20	U40108AP2010PTC066570	Nama Energy Private Limited	Director	06-01-10	06-01-10	-	Active	NO
21	U40108AP2010PTC071246	Ramnagar Power Private Limited	Director	16-11-10	16-11-10	-	Active	NO

Name :	Mr. Kamma Srinivasa Rao
Designation :	Director
Address :	Varalakshmi Nilayam, H. No. 11-4-65/C, Nehru Nagar, Khammam – 507 002, Andhra Pradesh, India
Date of Birth/Age :	22.08.1973
Date of Appointment :	05.03.2004
DIN No.:	00022855

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	U13209AP1998PTC030278	Madhucon Stone Crushers Private Limited	Whole-time director	05-10-98	05-10-98	-	Active	NO
2	U70102AP1989PTC010666	Bima Quarring Private Limited	Director	01-12-01	01-12-01	-	Active	NO
3	U15427AP2002PLC039859	Madhucon Sugar And Power Industries Limited	Director	05-11-02	05-11-02	-	Active	NO
4	U13209AP1988PLC008311	Madhucon Granites Limited	Director	05-03-04	05-03-04	-	Active	NO
5	U13209AP1999PTC031622	Varalakshmi Granites Private Limited	Director	05-03-04	05-03-04	-	Active	NO
6	U70102AP2005PLC045060	Madhucon Land Developers Limited	Director	15-01-05	15-01-05	19-03-10	Active	NO
7	U45200AP2005PLC045366	Madhucon Properties Limited	Director	15-02-05	15-02-05	-	Active	NO
8	U45203AP2005PLC045689	Madhucon Agra-Jaipur Expressways Limited	Whole-time director	13-10-11	23-03-05	-	Active	NO
9	L74210AP1990PLC011114	Madhucon Projects Limited	Director	21-11-05	21-11-05	-	Active	NO
10	U45200AP2006PLC048941	TN (DK) Expressways Limited	Director	31-01-06	31-01-06	-	Active	NO
11	U45200AP2006PLC049235	Madhucon Infra Limited	Managing director	03-10-09	22-02-06	-	Active	NO
12	U45200AP2006PLC049815	Trichy-Thanjavur Expressways Limited	Director	13-04-06	13-04-06	-	Active	NO
13	U45203AP2006PLC050114	Madurai-Tuticorin Expressways Limited	Whole-time director	01-01-10	11-05-06	-	Active	NO
14	U40101AP2005PTC048264	Simhapuri Energy Private Limited	Director	14-04-07	14-04-07	20-11-07	Active	NO
15	U45400AP2007PTC056734	Madhucon Mega Mall Private Limited	Director	18-12-07	18-12-07	-	Active	NO
16	U93000AP2008PLC060479	Madhucon Toll Highways Limited	Director	05-08-08	05-08-08	-	Active	NO
17	U45209AP2010PLC068742	Chhapra-Hajipur Expressways Limited	Director	02-06-10	02-06-10	-	Active	NO
18	U40108AP2010PTC070880	Pallakurichi Power Private Limited	Director	19-10-10	19-10-10	-	Active	NO
19	U40108AP2010PTC071051	Tiruchendur Power Private Limited	Director	02-11-10	02-11-10	-	Active	NO
20	U45203AP2011PLC073469	Barasat-Krishnagar Expressways Limited	Director	24-03-11	24-03-11	-	Active	NO
21	U45209AP2011PLC073568	Ranchi Expressways Limited	Director	29-03-11	29-03-11	-	Active	NO
22	U45209AP2011PLC077676	Vijayawada-Machilipatnam Expressways Limited	Director	28-11-11	28-11-11	-	Active	NO

Name :	Mallampati Madhu
Designation :	Director
Address :	H. No. 11-465/C, Nehru Nagar, Khammam – 507 002, Andhra Pradesh, India
Date of Birth/Age :	21.08.1981
Date of Appointment :	26.08.2010
DIN No.:	00368625

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	U45203AP2006PLC050829	Madhucon Estates Limited	Director	07-08-06	07-08-06	-	Active	NO
2	U45203AP2005PLC045689	Madhucon Agra-Jaipur Expressways Limited	Director	09-06-08	09-06-08	-	Active	NO
3	U45200AP2006PLC049815	Trichy-Thanjavur Expressways Limited	Whole-time director	17-07-11	17-07-08	-	Active	NO
4	U93000AP2008PLC060479	Madhucon Toll Highways Limited	Director	05-08-08	05-08-08	-	Active	NO
5	U65993AP1993PLC016360	Nama Investments Limited	Director	14-03-09	14-03-09	-	Active	NO
6	U72200AP2000PLC034060	Madhucon Infotech Limited	Director	16-03-09	16-03-09	-	Active	NO
7	U45203AP2006PLC050114	Madurai-Tuticorin Expressways Limited	Director	16-03-09	16-03-09	-	Active	NO
8	U74900AP2008PTC059203	NNR Infra Investments Private Limited	Director	16-03-09	16-03-09	-	Active	NO
9	U45400AP2007PTC056734	Madhucon Mega Mall Private Limited	Director	16-03-09	16-03-09	-	Active	NO
10	U55101AP2007PTC056818	Nama Hotels Private Limited	Managing director	19-03-10	16-03-09	-	Active	NO
11	U45200AP2006PLC049235	Madhucon Infra Limited	Whole-time director	25-04-09	16-03-09	03-10-09	Active	NO
12	U51909AP1990PLC011796	Nama Properties Limited	Director	29-09-10	08-10-09	-	Active	NO
13	U74999AP2008PLC059009	Madhucon Mineral Resources Limited	Director	29-09-10	08-10-09	-	Active	NO
14	U74140AP2000PLC035025	Meltech Infrastructure Engineers Limited	Director	29-09-10	08-10-09	-	Active	NO
15	U45200AP2006PLC048941	TN (DK) Expressways Limited	Director	24-07-10	16-12-09	-	Active	NO
16	U45309AP2000PLC034007	Madhucon Energy Limited	Director	31-08-10	16-12-09	-	Active	NO
17	U13209AP1999PTC031622	Varalakshmi Granites Private Limited	Director	30-09-10	17-12-09	-	Active	NO
18	U13209AP1988PLC008311	Madhucon Granites Limited	Director	26-08-10	17-12-09	-	Active	NO

Name :	Mr. Madhava Rao Potla
Designation :	Director
Address :	9-2-115/2 Srikrishna Nilayam Old Club Road, Khammam 507002, Andhra Pradesh, India
Date of Birth/Age :	25.12.1959
Date of Appointment :	19.11.2010

KEY EXECUTIVES

Name :	Ms. Raymond
Designation :	Marketing Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2012

Names of Shareholders	No. of Shares
Nama Nageswar Rao	7200000
Nama Chinnamma	4050000
Nama Krishnaiah	2250000
Nama Seethaiah	1404000
Thottampudi Venugopal Rao	21000
Nama Varalakshmi	54000
Nama Rama Rao	21000
Total	15000000

As on 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Granites.

Products :

Product Description	ITC Code
Polished granite slabs	6807.90
Granite Rough Blocks	680223.10

· Granites Stones

· Marble Stones

· Marble Slabs

· Marble Tiles

· Marble Powder

· Marble White Paint

Exports :

Products :

Granites

Countries :

· Middle East

· European Countries

Imports :

Products :

· Machinery

· Raw Material

Countries :

· USA

· Singapore

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

400 (Approximately)

Bankers :

· Canara Bank

Khammam Branch, Madhu Complex, Jubilipura, Khammam – 507 003, Andhra Pradesh, India

· ABN Amro Bank

N V DLF Centre, Sansad Marg, New Delhi – 110 001, India

· State Bank of India

· ING Vysya Bank

· Andhra Bank

· ICICI Bank, Hyderabad, India

Financials Institution:

L and T Finance Limited, L and T House, Ballard Estate, Mumbai 400001, Maharashtra, India

Facilities :

Secured Loans	As on 31.03.2012 Rs. in millions	As on 31.03.2011 Rs. in millions
Loan Taken for Fixed Assets	58.482	0.000
Short Term Borrowings	324.303	254.793
Total	382.785	254.793

Unsecured Loans	As on 31.03.2012 Rs. in millions	As on 31.03.2011 Rs. in millions
Loans Repayable on Demand	238.538	253.508
Total	238.538	253.508

Banking Relations :	--
Auditors :
Name :	Kota and Company Chartered Accountants
Address :	H. No. 331, Plot No. 13, Arora Colony – 2, Road No. 3, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India
PAN No.:	ADFPK0270N
Group Companies :	· Madhucon Engineers Limited · Madhucon Sugars and Power Industries Limited · Varalakshmi Granites Limited
Associates :	· Madhucon Projects Limited · Madhucon Infra Limited
Subsidiaries :	· Varalakshmi Granites Private Limited · Madhucon Sugar and Power Industries limited · MBN-Anchored Earth Limited · Madhucon Finance Limited · Madhucon Infotech Limited · Madhucon Land Developers Limited · Madhucon Properties Limited · Nama Properties Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		150.000	150.000	150.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1598.277	1451.453	1262.414
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1748.277	1601.453	1412.414
LOAN FUNDS
1] Secured Loans		382.785	254.793	197.616
2] Unsecured Loans		238.538	253.508	0.000
TOTAL BORROWING		621.323	508.301	197.616
DEFERRED TAX LIABILITIES		44.865	46.408	43.424
TOTAL		2414.465	2156.162	1653.454
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		632.432	485.622	512.180
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		734.640	734.642	279.639
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	686.180	511.582	297.433
	Sundry Debtors	340.668	330.471	366.118
	Cash & Bank Balances	32.733	69.950	52.237
	Other Current Assets	342.744	249.353	28.738
	Loans & Advances	204.369	150.199	385.760
Total Current Assets		1606.694	1311.555	1130.286
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	82.164	103.473	193.730
	Other Current Liabilities	326.598	239.376	61.122
	Provisions	150.539	32.808	13.799
Total Current Liabilities		559.301	375.657	268.651
Net Current Assets		1047.393	935.898	861.635
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2414.465	2156.162	1653.454

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Sales	1360.895	1176.512	1402.419
		Other Income	33.278	39.715	49.209
		TOTAL (A)	1394.173	1216.227	1451.628
Less	EXPENSES
		Cost of Goods Sold	375.015	320.244	292.376
		Consumables and Stores Consumption	0.000	0.000	132.834
		Increase/(Decrease) in Finished Goods	(117.920)	(86.210)	0.000
		Employees Remuneration	124.995	103.198	0.000
		Mining Expenses	0.000	0.000	197.869
		Factory Expenses	0.000	0.000	93.846
		Administration Expenses	0.000	0.000	114.362
		Selling Expenses	0.000	0.000	84.217
		Other Expenses	545.656	394.943
		TOTAL (B)	927.746	732.175	915.504
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		466.427	484.052	536.124
Less	FINANCIAL EXPENSES/INTEREST (D)		69.525	43.662	32.923
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		396.902	440.390	503.201
Less/ Add	DEPRECIATION/ AMORTISATION (F)		74.523	67.514	74.674
	PROFIT BEFORE TAX (E-F) (G)		322.379	372.876	428.527
Less	TAX (H)		108.672	2.984	12.255
	PROFIT AFTER TAX (G-H) (I)		213.707	369.892	416.272
	EARNINGS IN FOREIGN CURRENCY		NA	NA	1132.000
	Earnings Per Share (Rs.)		14.25	24.66	27.75

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	15.32	30.41	28.68
Net Profit Margin (PBT/Sales)	(%)	23.68	31.69	30.56
Return on Total Assets (PBT/Total Assets}	(%)	14.39	20.74	26.09
Return on Investment (ROI) (PBT/Networth)		0.18	0.23	0.30
Debt Equity Ratio (Total Debt/Networth)		0.35	0.31	0.33
Current Ratio (Current Asset/Current Liability)		2.87	3.49	4.21

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		YES
5.	Type of Business		YES
6.	Line of Business		YES
7.	Promoter’s background		--
8.	No. of employees		YES
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		NO
13.	Reasons for variations <> 20%		YES
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.	Payment terms		YES
20.	Export / Import details (is applicable)		YES
21.	Market information		--
22.	Litigation that the firm / promoter involved in		--
23.	Banking Details		YES
24.	Banking facility details		NO
25.	Conduct of the banking account		--
26.	Buyer visit details		--
27.	Financials, if provided		NO
28.	Incorporation details, if applicable		--
29.	Last accounts filed at ROC		--
30.	Major Shareholders, is available		--
31]		PAN of Proprietor/Partner/Director, if available	--
32]		Passport No of Proprietor/Partner/Director, if available	--
33]		Voter ID No of Proprietor/Partner/Director, if available	--
34]		External Agency Rating, if available	NO

REVIEW OF OPERATION

The Company achieved a Gross Income of Rs.1394.175 millions as against Rs.1216.228 millions of previous year. After providing depreciation of Rs.74.524 millions, the company earned a net profit of Rs.322.379 millions as against net profit of Rs.372.876 millions of previous year.

The Company has been allotted 40 acres land by SIPCOT at Bargur Industrial Area to set up an SEZ Unit for Granite Slabs cutter and Tiles. The company has already started the land development works at site.

FORM 8

Corporate identity number of the company	U13209AP1988PLC008311
Name of the company	MADHUCON GRANITES LIMITED
Address of the registered office or of the principal place of business in India of the company	1-7-70, Jubilee Pura, Khammam – 507 003, Andhra Pradesh, India
This form is for	Creation of charge
Type of charge	· Movable property (not being pledge)
Particular of charge holder	L and T Finance Limited, L and T House, Ballard Estate, Mumbai 400001, Maharashtra, India Email: mca21@ltfinance.com
Nature of instrument creating charge	Deed Of Hypothecation Deal No. 850686.
Date of instrument Creating the charge	18.01.2013
Amount secured by the charge	Rs.14.871 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 5.79% Flat Per Annum Terms of Repayment 35 Months Equated Monthly Installment Basis. Margin Rs. 1.652 millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Description : 1 No. Hindustan 1035 Dumper With Standard Accessories Bearing Engine No. 6tg03392 and Chassis No. 490825f Description : 1 No. Hindustan 1035 Dumper With Standard Accessories Bearing Engine No. 6tg03390 and Chassis No. 490930f

FIXED ASSETS

· Land

· Mining Land

· Lease Land

· Temprary Shed

· Building

· Plant and Machinery

· Electrical and DG Room

· Office Equipment

· Furniture and Fixtures

· Motor Vehicles

· Mining Equipment

· Heavy Mining Equipment

· 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 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 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.54.33
UK Pound	1	Rs.82.72
Euro	1	Rs.69.82

INFORMATION DETAILS

Report Prepared by :

PRL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.