MIRA INFORM REPORT

Report Date :

31.08.2013

IDENTIFICATION DETAILS

Name :	GARDENIA INDIA LIMITED (w.e.f. 15.02.2007)
Formerly Known As :	GARDENIA INDIA PRIVATE LIMITED
Registered Office :	R-19, 3^rd Floor, Near Shakarpur, Laxmi Nagar, Vikas Marg, Delhi - 110092
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.01.2007
Com. Reg. No.:	55-158102
Capital Investment / Paid-up Capital :	Rs. 125.000 Millions
CIN No.: [Company Identification No.]	U45200DL2007PLC158102
PAN No.: [Permanent Account No.]	AACCG7503M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Real Estate Develpers.
No. of Employees :	225 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1040000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Management has failed to file the latest financials of 2012 with the government department. As per previous year, there appears huge external borrowings recorded by the company during 2011. The ratings also take into consideration the slow down in the real estate industry and high interest rates prevailing in the market. However, trade relations are fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for business dealings with some caution.

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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan : “B+”
Rating Explanation	High risk of default.
Date	July, 2013

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 PARTED BY

Name :	Mr.Pankaj
Designation :	Finance Head
Contact No.:	91-120-4050400
Date :	29.08.2013

LOCATIONS

Registered Office :	R-19, 3^rd Floor, Near Shakarpur, Laxmi Nagar, Vikas Marg, Delhi – 110092, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	roc@kkcca.in makagg2005@gmail.com kkc.indiaca@gmail.com
Website :	www.gardeniaindia.com
Area :
Location :	Owned
Corporate Office :	Sector-75, Gautam Buddh Nagar, Noida – 201301, Uttar Pradesh, India
Tel. No. :	91-20-4050400
Fax No. :	91-20-4554355
E-Mail :	info@gardeniaindia.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Manoj Kumar Ray

Designation :

Managing Director

Address :

A-218, Mangal Apartments, Vasundra Enclave, New Delhi - 110096, India

Date of Birth/Age :

01.01.1967

Qualification :

M.A.

Date of Appointment :

18.01.2007

PAN No.:

AENPR5565E

DIN No. :

00251033

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	U45202DL2003PTC122513	HRC ENGINEERS ESTATE PRIVATE LIMITED	Director	27/11/2003	27/11/2003	31/03/2010	Dormant	NO
2	U51397DL2005PTC134022	MANAK HEALTHCARE CONCEPTS PRIVATE LIMITED	Director	15/03/2005	15/03/2005	-	Active	NO
3	U45201DL2005PTC134021	MANAK BUILDCON PROJECTS PRIVATE LIMITED	Managing director	15/03/2005	15/03/2005	-	Active	NO
4	U00892DL2005PTC137410	LIPI SOFTECH PRIVATE LIMITED	Director	09/06/2005	09/06/2005	-	Active	NO
5	U72200DL2005PTC137411	M N SOFTECH PRIVATE LIMITED	Director	09/06/2005	09/06/2005	-	Active	NO
6	U25202DL2005PTC137414	N P R PACKTECH PRIVATE LIMITED	Managing director	09/06/2005	09/06/2005	-	Active	NO
7	U72200DL2005PTC137412	MANAK SOFTECH PRIVATE LIMITED	Managing director	09/06/2005	09/06/2005	-	Active	NO
8	U45201DL2005PTC137413	LIPI BUILDCON PRIVATE LIMITED	Managing director	09/06/2005	09/06/2005	-	Active	NO
9	U72200DL2005PTC143715	SUNSHINE INFOSOLUTIONS PRIVATE LIMITED	Managing director	15/12/2005	15/12/2005	-	Active	NO
10	U51909DL2005PTC143714	KASHYAP MULTITRADE PRIVATE LIMITED	Managing director	15/12/2005	15/12/2005	-	Active	NO
11	U67190DL2005PTC143717	F2F INVESTMENT ADVISORS PRIVATE LIMITED	Managing director	15/12/2005	15/12/2005	-	Active	NO
12	U72200DL2005PTC144224	EVERSHINE INFOSOLUTIONS PRIVATE LIMITED	Managing director	29/12/2005	29/12/2005	-	Active	NO
13	U45200DL2007PLC158102	GARDENIA INDIA LIMITED	Managing director	18/01/2007	18/01/2007	-	Active	NO
14	U45201DL2006PTC168397	FUTEC SHELTERS PRIVATE LIMITED	Additional director	02/02/2009	02/02/2009	-	Active	NO
15	U70101DL2009PTC187741	GARDENIA SHELTERS PRIVATE LIMITED	Director	18/02/2009	18/02/2009	-	Active	NO
16	U70109DL2009PTC193115	GARDENIA INFRA PRIVATE LIMITED	Director	12/08/2009	12/08/2009	-	Converted to LLP and dissolved	NO
17	U70101DL2009PTC194776	GARDENIA AIMS DEVELOPERS PRIVATE LIMITED	Director	29/09/2009	29/09/2009	-	Active	NO
18	U70200DL2010PTC198360	GARDENIA HOMES PRIVATE LIMITED	Director	27/01/2010	27/01/2010	-	Active	NO
19	U70109DL2010PTC201695	AIMS MAX GARDENIA DEVELOPERS PRIVATE LIMITED	Director	19/04/2010	19/04/2010	-	Active	NO
20	U45400DL2012PTC229780	Ambit Infratech Private Limited	Director	10/01/2012	10/01/2012	-	Active	NO
21	U70109DL2012PTC230427	AMBIT DIGIHOMES PRIVATE LIMITED	Director	23/01/2012	23/01/2012	-	Active	NO
22	U70200DL2012PTC235553	GARDENIA GLOBAL PRIVATE LIMITED	Director	09/05/2012	09/05/2012	-	Active	NO
23	U85100DL2012NPL245259	GARDENIA GLOBAL FOUNDATION	Director	26/11/2012	26/11/2012	-	Active	NO
24	AAA-5271	GARDENIA INFRA LLP	Designated Partner	20/06/2011	20/06/2011	-	Active	NO
25	AAA-7901	AMBIT SHELTERS LLP	Designated Partner	06/02/2012	06/02/2012	-	Active	NO
26	AAB-0588	GARDENIA NEWTECH DEVELOPERS LLP	Designated Partner	09/08/2012	09/08/2012	-	Active	NO
27	AAB-1133	SMA DIGIHOMES LLP	Designated Partner	11/09/2012	11/09/2012	-	Active	NO
28	AAB-3117	ZSL METROPOLIS LLP	Designated Partner	11/01/2013	11/01/2013	-	Active	NO
29	AAB-4302	GARDENIA GRAVITY DEVELOPERS LLP	Designated Partner	01/04/2013	01/04/2013	-	Active	NO
30	AAB-6801	AMS SHELTERS LLP	Designated Partner	30/07/2013	30/07/2013	-	Active	NO

Name :

Mr. Sanjeev Kumar

Designation :

Director

Address :

G-3, Plot No 170, Sector-4 Vaishali, Ghaziabad - 201001, Uttar Pradesh, India

Date of Birth/Age :

01.01.1972

Qualification :

Civil Engineer

Date of Appointment :

18.01.2007

PAN No. :

AGGPK9966P

DIN No. :

01212055

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	U45201UP2004PTC029364	SHALIMAR COLONISERS PRIVATE LIMITED	Director	18/11/2005	18/11/2005	-	Active	NO
2	U45200DL2007PLC158102	GARDENIA INDIA LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
3	U70102DL2007PTC166949	ALL INDIA DEVELOPERS CONSORTIUM PRIVATE LIMITED	Director	13/08/2007	13/08/2007	-	Active	NO
4	U45201DL2006PTC168397	FUTEC SHELTERS PRIVATE LIMITED	Additional director	02/02/2009	02/02/2009	-	Active	NO
5	U70101DL2009PTC187741	GARDENIA SHELTERS PRIVATE LIMITED	Director	18/02/2009	18/02/2009	-	Active	NO
6	U70109DL2009PTC193115	GARDENIA INFRA PRIVATE LIMITED	Director	12/08/2009	12/08/2009	-	Converted to LLP and dissolved	NO
7	U70101DL2009PTC194776	GARDENIA AIMS DEVELOPERS PRIVATE LIMITED	Director	29/09/2009	29/09/2009	-	Active	NO
8	U70200DL2010PTC198358	GARDENIA CORPORATION PRIVATE LIMITED	Director	27/01/2010	27/01/2010	-	Active	NO
9	U70109DL2010PTC201695	AIMS MAX GARDENIA DEVELOPERS PRIVATE LIMITED	Director	19/04/2010	19/04/2010	-	Active	NO
10	U45400DL2011PTC228032	EUPHORIA SPORTS CITY PRIVATE LIMITED	Director	28/11/2011	28/11/2011	-	Active	NO
11	U51909DL2012PTC233139	PRIME PANELS PRIVATE LIMITED	Additional director	11/01/2013	11/01/2013	-	Active	NO
12	U70109DL2012PTC235111	SUNHILL REALTY PRIVATE LIMITED	Additional director	01/02/2013	01/02/2013	-	Active	NO
13	U70200DL2013PTC254824	SAI NAMO NAMAH CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
14	U70109DL2013PTC254993	DEVSAI CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
15	U45200DL2013PTC255875	MISTIQUE CONSTRUCTION PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
16	U45200DL2013PTC255911	SEIKOM INFRACOM PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
17	U45400DL2013PTC255871	MICRA INFRATECH PRIVATE LIMITED	Director	02/08/2013	02/08/2013	-	Active	NO
18	U45204DL2013PTC256535	CLOVER PROBUILD PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
19	U45200DL2013PTC256534	IRISH INFRASTRUCTURE PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
20	U45400DL2013PTC256891	GODAVARI DWELLING PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
21	U45208DL2013PTC256890	FLORAL REALCON PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
22	U45201DL2013PTC256877	PINE PROBUILD PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
23	U45300DL2013PTC256843	PALM DEVELOPERS PRIVATE LIMITED	Director	23/08/2013	23/08/2013	-	Active	NO
24	U45400DL2013PTC256967	MAPLE REALCON PRIVATE LIMITED	Director	27/08/2013	27/08/2013	-	Active	NO
25	AAA-5271	GARDENIA INFRA LLP	Designated Partner	20/06/2011	20/06/2011	-	Active	NO
26	AAB-4210	LUXURY VILLAS LLP	Designated Partner	25/03/2013	25/03/2013	-	Active	NO

Name :

Anupama Kumari

Designation :

Director

Address :

A-218, Mangal Apartments, Vasundhara Enclave, New Delhi – 110096, India

Date of Birth/Age :

31.12.1973

Qualification :

B.A.

Date of Appointment :

19.01.2007

PAN No. :

AHBPA0298C

DIN No. :

01254992

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	U45200DL2007PLC158102	GARDENIA INDIA LIMITED	Director	19/01/2007	19/01/2007	-	Active	NO
2	U45201DL2005PTC134021	MANAK BUILDCON PROJECTS PRIVATE LIMITED	Director	14/08/2008	14/08/2008	-	Active	NO
3	U72200DL2005PTC143715	SUNSHINE INFOSOLUTIONS PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
4	U70200DL2010PTC198360	GARDENIA HOMES PRIVATE LIMITED	Director	27/01/2010	27/01/2010	-	Active	NO
5	U70200DL2012PTC235553	GARDENIA GLOBAL PRIVATE LIMITED	Director	09/05/2012	09/05/2012	-	Active	NO
6	U85100DL2012NPL245259	GARDENIA GLOBAL FOUNDATION	Director	26/11/2012	26/11/2012	-	Active	NO
7	AAB-4302	GARDENIA GRAVITY DEVELOPERS LLP	Designated Partner	01/04/2013	01/04/2013	-	Active	NO

Name :

Punam Kumari

Designation :

Director

Address :

4/170, Vaishali, Ghaziabad - 201010, Uttar Pradesh, India

Date of Birth/Age :

14.11.1975

Date of Appointment :

19.01.2007

PAN No. :

AIPPK8748J

DIN No. :

01591840

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	U45200DL2007PLC158102	GARDENIA INDIA LIMITED	Director	19/01/2007	19/01/2007	-	Active	NO
2	U70200DL2010PTC198358	GARDENIA CORPORATION PRIVATE LIMITED	Director	27/01/2010	27/01/2010	-	Active	NO
3	U51909DL2012PTC233139	PRIME PANELS PRIVATE LIMITED	Additional director	11/01/2013	11/01/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr.Pankaj
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Manoj Kumar Ray	6244800
Sanjeev Sharma	6244800
Vishwanath Prasad Singh	100
Jagdish Prasad Sharma	100
Kumari Anupama	5000
Punam Kumari	5000
Narendra Prasad Ray	100
Manoj Kumar Ray-HUF	100
Total	12500000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Real Estate Develpers.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash, Credit and Depend

GENERAL INFORMATION

Customers :

Others

· Adobe

BHEL

Bharat Petroleum

Havell’s

Indian Oil

LG

Microsoft

BSNL

NTPC

Oil India Limited

Reserve Bank of India

Tata Consultancy Services

No. of Employees :

225 (Approximately)

Bankers :

· Union Bank of India, Industrial Finance Branch, M-11, Middle Circle, Connaught Circus, New Delhi - 110001, India

Union Bank of India, Overseas Branch, 26/28D, Connaught Place, New Delhi - 110001, India

Oriental Bank Of Commerce (Lead Bank of Consortium), Harsha Bhawan, E-Block, Connaught Place, New Delhi - 110001, India

Facilities :

SECURED LOANS	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	(A)22.740	0.000
Loans taken for vehicles secured	(B)15.404	(C)13.933
Other debt secured	(D)948.628	(E)31.048
Total	986.772	44.981

Note

(A) From Bank - Overdraft against Hypothecation of Vasundhra property- Green and personal guarantee of Directors

(B) Vehicle Loan - PNB Vehicle Loan - HDFC

(C) Vehicle Loan - PNB Vehicle Loan - HDFC

(D) Deferred Liabilities - Land Devlopement against Projects in Progress UPAVEP- Project Gitanjali UPAVEP- Project Glamour – I UPAVEP- Project Glamour - II

(E) Deferred Liabilities - Land Devlopement against Projects in Progress UPAVEP- Project Gitanjali UPAVEP- Project Glamour – I UPAVEP- Project Glamour – II

Banking Relations :	--
Auditors :
Name :	Keshari Keshari and Company Chartered Accountants
Address :	C-167, Sector-19, Noida – 201301, Uttar Pradesh, India
PAN No. :	AADFK6362Q
Other Related Parties :	· Amrapali Realtors (Partnership Firm having partners Mr. Sanjeev Kumar and Mr. Manoj Kumar Ray) Gardenia Shelters Private Limited (Having common directors Mr. Sanjeev Kumar and Mr. Manoj Kumar Ray and Gardenia India Limited holds 31% shares of the Company) CIN No.: U70101DL2009PTC187741 Gardenia AIMS Developers Private Limited (Having common directors Mr. Sanjeev Kumar and Mr. Manoj Kumar Ray and Gardenia India Limited holds 27% shares of the Company) CIN No.: U70101DL2009PTC194776 AIMS Max Gardenia Developers Private Limited (Having common directors Mr. Sanjeev Kumar and Mr. Manoj Kumar Ray and Gardenia India Limited holds 27% shares of the Company) CIN No.: U70109DL2010PTC201695 Futec Shelters Private Limited (Having common directors Mr. Sanjeev Kumar and Mr. Manoj Kumar Ray) CIN No.: U45201DL2006PTC168397 Manak Buildcon Projects Private Limited (Having common directors Mr. Manoj Kumar Ray and Mrs. Kumari Anupama) CIN No.: U45201DL2005PTC134021 Gardenia Infra Private Limited (Having common directors Mr. Sanjeev Kumar and Mr. Manoj Kumar Ray) CIN No.: U70109DL2009PTC193115 Gardenia Corporation Private Limited (Having common directors Mr. Sanjeev Kumar and Mrs. Punam Kumari) Patel Advance Gardenia Consortium (Consortium consisting of Patel Engineering Limited, Advance Construction Company Private Limited and Gardenia India Limited)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs.10/- each	Rs. 125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs.10/- each	Rs. 125.000 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		125.000	25.000	25.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		135.530	79.322	24.831
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		260.530	104.322	49.831
LOAN FUNDS
1] Secured Loans		986.772	44.981	5.009
2] Unsecured Loans		326.674	129.161	20.092
TOTAL BORROWING		1313.446	174.142	25.101
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1573.976	278.464	74.932
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.522	19.968	7.842
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.440	9.900	23.900
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1114.034	310.723	261.864
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	89.197	3.811	25.002
	Other Current Assets	0.000	0.000	.000
	Loans & Advances	1014.480	269.667	112.998
Total Current Assets		2217.711	584.201	399.864
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	192.906	20.774	12.834
	Other Current Liabilities	435.480	287.044	331.967
	Provisions	44.427	28.019	12.221
Total Current Liabilities		672.813	335.837	357.022
Net Current Assets		1544.898	248.364	42.842
MISCELLANEOUS EXPENSES		0.116	0.232	0.348
TOTAL		1573.976	278.464	74.932

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1075.734	970.373	436.999
		Other Income	4.997	26.081	0.425
		TOTAL (A)	1080.731	996.454	437.424
Less	EXPENSES
		Consumption materials changes inventories	282.904	281.386
		Manufacturing service costs	590.383	560.334
		Administrative selling other expenses	103.393	62.027
		TOTAL (B)	976.680	903.747	400.305
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		104.051	92.707	37.119
Less	FINANCIAL EXPENSES (D)		13.467	6.944	1.742
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		90.584	85.763	35.377
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.582	3.495	2.051
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		85.002	82.268	33.326
Less	TAX (H)		28.793	27.778	11.955
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		56.209	54.490	21.371
	Earnings / (Loss) Per Share (Rs.)		6.36	21.80	--

Particulars	31.03.2013	31.03.2012
Sales Turnover (Approximately)	1480.000	1470.000

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.20	5.47	4.87
Net Profit Margin (PBT/Sales)	(%)	7.90	8.48	7.63
Return on Total Assets (PBT/Total Assets}	(%)	3.79	13.62	8.17
Return on Investment (ROI) (PBT/Networth)		0.33	0.79	0.67
Debt Equity Ratio (Total Debt/Networth)		5.04	1.67	0.50
Current Ratio (Current Asset/Current Liability)		3.30	1.74	1.12

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last five 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	Yes
19]	Payments terms	Yes
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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN 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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10429125	16/04/2013	710,000,000.00	UNION BANK OF INDA	INDUSTRIAL FINANCE BRANCH, M-11, MIDDLE CIRCLE, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA	B76322593
2	10350620	20/03/2012	195,000,000.00	UNION BANK OF INDIA	OVERSEAS BRANCH, 26/28D,CONNAUGHT PLACE, NEW DELH - 110001, INDIA	B37849395
3	10338215	13/01/2012	1,340,000,000.00	ORIENTAL BANK OF COMMERCE (LEAD BANK OF CONSORTIUM)	HARSHA BHAWAN, E-BLOCK, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA	B33238965
4	10290843	25/04/2011	325,000,000.00	UNION BANK OF INDIA	OVERSEAS BRANCH, 26/28D,CONNAUGHT PLACE, NEW DELHI - 110001, INDIA	B14519672
5	10282316	04/04/2011	350,000,000.00	CORPORATION BANK	DEEP MEMORIAL PUBLIC SCHOOL, A - BLOCK RAMPRASTHA, CHANDER NAGAR, GHAZIABAD - 201011, UTTAR PRADESH, INDIA	B11384120
6	10267665	24/01/2011	4,300,000.00	PUNJAB NATIONAL BANK	SECTOR -27, NOIDA - 201301, UTTAR PRADESH, INDIA	B05329156
7	10259777	23/12/2010	24,000,000.00	CORPORATION BANK	DEEP MEMORIAL PUBLIC SCHOOL, A - BLOCK RAMPRASTHA, CHANDER NAGAR, GHAZIABAD - 201011, UTTAR PRADESH, INDIA	B02556371
8	10226895	19/05/2010	230,000,000.00	ORIENTAL BANK OF COMMERCE	GROUND FLOOR, HARSHA BHAWAN, E-BLOCK, CONNAUGHT P LACE, NEW DELHI - 110001, INDIA	A88698741
9	10203705	23/01/2010	5,000,000.00	PUNJAB NATIONAL BANK	SECTOR-27, NOIDA, NOIDA - 201301, UTTAR PRADESH, INDIA	A79304317
10	10086850	17/01/2008	2,400,000.00	PUNJAB NATIONAL BANK	SECTOR-27, NOIDA - 201301, UTTAR PRADESH, INDIA	A32022782

NOTE

The registered office of the company has been shifted from Chamber-2, Basement, 61, Vinobapuri, Lajpat Nagar – II, New Delhi – 110024, India to the present address w.e.f. 07.01.2011

UNSECURED LOANS

PARTICULARS	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Other debt unsecured	^(A) 326.674	^(B) 129.161
Total	326.674	129.161

Note

(A) From promoters.freinds,relatives

(B) From promoters.freinds,relatives

FIXED ASSETS

· Office Equipments

Computer Equipments

Furniture Fixtures

Motor Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No 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.66.57
UK Pound	1	Rs.103.34
Euro	1	Rs.88.16

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.