MIRA INFORM REPORT

Report Date :

12.12.2013

IDENTIFICATION DETAILS

Name :	PREMIUM TRANSMISSION LIMITED [w.e.f. 14.06.2010]
Formerly Known As :	PREMIUM ENERGY TRANSMISSION LIMITED [w.e.f. 22.04.2004] BILT INFRASTRUCTURE PRIVATE LIMITED [w.e.f. 31.07.2000] EVEREST FOOD (INDIA) PRIVATE LIMITED
Registered Office :	Premium House, Mumbai Pune Road, Chinchwad, Pune – 411019, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.04.1983
Com. Reg. No.:	11-133199
Capital Investment / Paid-up Capital :	Rs. 432.500 Millions
CIN No.: [Company Identification No.]	U01119PN1983PLC133199
TAN No.: [Tax Deduction & Collection Account No.]	NSKP02127G NSKP02126F PNEP08128B
PAN No.: [Permanent Account No.]	AADCP2916N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Gearboxes and Transmission Units.
No. of Employees :	1250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having good track record. The management has seen a drastic fall in its net profitability during 2013. However, financially the company seems to be strong. Performance capability is high. 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 for normal 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 – 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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Long term rating: A+
Rating Explanation	The default risk is low. The capacity for payment of financial commitments is considered strong.
Date	20.06.2013

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 (GENERAL DETAILS)

Name :	Mr. Ashish
Designation :	Accounts Department
Contact No.:	91-20-66314100
Date :	10.12.2013

LOCATIONS

Registered Office/ Factory :	Premium House, Mumbai Pune Road, Chinchwad, Pune – 411019, Maharashtra, India
Tel. No.:	91-20-66314100/ 27475141
Fax No.:	91-20-27450287
E-Mail :	svk@premiumtransmission.com rtg@premiumtransmission.com rsk@premiumtransmission.com
Website :	www.premiumtransmission.com
Corporate/ Head Office :	The Westin, 402, Business Plaza, 36/3-B, Koregaon Park Annex, Mundhwa Road, Pune – 411001, Maharashtra, India
Tel No.:	91-20-67269713
Fax No.:	91-20-67269728
Email :	snr@premiumtransmission.com
European Branch Office :	Stephan B. V. D-31789, Germany, Ohsener Strasse 79-83.
Tel No.:	+49 (0) 5151/780-0
Fax No.:	+49 (0) 5151/780-441
Email :	info@premium-stephan.com
Regional Office :	Akash Tower, 5th floor, 781, Anandapur, Near Ruby Hospital, Kolkata 700 107, West Bengal. India
Tel No.:	91-33-40120915
Fax No.:	91-33-40120914
Branch Office :	Located At · Ahmedabad · Bangalore · Pune · Hyderabad · Kochi

DIRECTORS

As on 14.06.2013

Name :

Mr. Suresh Kumar Mamanchand Jain

Designation :

Director

Address :

159, Siddharth Enclave, Ashram Chowk, Ring Road, New Delhi - 110014, India

Date of Birth/Age :

12.03.1957

Date of Appointment :

09.11.2006

DIN :

00003500

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	U74899DL1995PTC066073	BHARAT PROJECTS PRIVATE LIMITED	Director	20/04/2004	20/04/2004	-	Amalgamated	NO
2	U15421WB1936PLC008512	DEORIA SUGAR MILLS LIMITED	Director	20/04/2004	20/04/2004	-	Amalgamated	NO
3	U51900MH1994PTC076764	DBH INVESTMENTS PRIVATE LIMITED	Director	27/05/2005	27/05/2005	-	Active	NO
4	U29291MH1973PTC016361	PEMBRIL INDUSTRIAL AND ENGINEERING COMPANY PRIVATE LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
5	U01119PN1983PLC133199	PREMIUM TRANSMISSION LIMITED	Director	09/11/2006	09/11/2006	-	Active	NO
6	U74899KL1998PLC022979	BHARAT STARCH PRODUCTS LIMITED	Director	27/07/2007	27/04/2007	-	Active	NO
7	U74899DL1950PTC057209	D B H INTERNATIONAL PRIVATE LIMITED	Director	18/10/2010	14/12/2009	-	Active	NO

Name :

Mr. Karan Thapar

Designation :

Director

Address :

8, Cedar Avenue, DLF, Chatarpur, New Delhi – 110030, India

Date of Birth/Age :

20.03.1957

Date of Appointment :

05.09.2008

DIN :

00004264

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	U70109WB1942PLC011139	STANDARD REFINERY AND DISTILLERY LIMITED	Director	17/03/1989	17/03/1989	24/07/2008	Under liquidation	NO
2	L26939KL1963PLC002039	EICL LIMITED	Director	21/09/1990	21/09/1990	-	Active	NO
3	L99999MH1922PLC000987	GREAVES COTTON LIMITED	Director	29/09/1991	29/09/1991	-	Active	NO
4	U74899KL1998PLC022979	BHARAT STARCH PRODUCTS LIMITED	Director	24/08/1998	24/08/1998	-	Active	NO
5	U74899DL1995PTC066073	BHARAT PROJECTS PRIVATE LIMITED	Director	15/07/1999	15/07/1999	-	Amalgamated	NO
6	U15421WB1918PLC003088	NEW SAVAN SUGARS AND GUR REFINING COMPANY LIMITED	Director	15/07/1999	15/07/1999	-	Amalgamated	NO
7	U74899DL1950PTC057209	D B H INTERNATIONAL PRIVATE LIMITED	Director	15/07/1999	15/07/1999	-	Active	NO
8	U74899DL1985PTC022696	KARUN CARPETS PRIVATE LIMITED	Director	15/07/1999	15/07/1999	-	Active	NO
9	L99999MH1937PLC002641	CROMPTON GREAVES LIMITED	Director	27/01/2000	27/01/2000	30/05/2007	Active	NO
10	U67120MH1978PLC020308	CG CAPITAL AND INVESTMENTS LIMITED	Director	30/03/2001	30/03/2001	30/05/2007	Amalgamated	NO
11	U24296DL2004PLC129497	KCT CHEMICALS AND ELECTRICALS LIMITED	Director	28/09/2004	28/09/2004	15/09/2010	Amalgamated	NO
12	U01119PN1983PLC133199	PREMIUM TRANSMISSION LIMITED	Director	05/09/2008	19/01/2008	-	Active	NO

Name :

Mr. Sunil Nawal Phatarphekar

Designation :

Director

Address :

Satguru Simran, 5^th Floor, 3^rd Road, Almieda Park, Bandra, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

02.10.1963

Date of Appointment :

08.06.2004

DIN :

00005164

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	U22100MH1996PLC096077	REDIFF. COM INDIA LIMITED	Director	26/02/1998	26/02/1998	-	Active	NO
2	U72200MH2000PTC128207	QUINTROL TECHNOLOGIES PRIVATE LIMITED	Director	21/05/2001	21/05/2001	-	Active	NO
3	U74999MH1979PTC021182	AJIT BALAKRISHNAN ESTATES AND SECURITIES PRIVATE LIMITED	Director	24/04/2002	24/04/2002	-	Active	NO
4	U74300MH1987PTC044227	REDIFFUSION DENTSU YOUNG AND RUBICAM PRIVATE LIMITED	Director	21/01/2004	21/01/2004	-	Active	NO
5	U01119PN1983PLC133199	PREMIUM TRANSMISSION LIMITED	Director	08/06/2004	08/06/2004	-	Active	NO
6	U74300MH2002PTC137235	SUDLER AND HENNESSEY PRIVATE LIMITED	Director	14/12/2005	14/12/2005	19/03/2009	Active	NO
7	U74300MH1996PTC098864	EVEREST BRAND SOLUTIONS PRIVATE LIMITED	Director	14/12/2005	14/12/2005	-	Active	NO
8	U74300MH1998PTC115834	WUNDERMAN INDIA PRIVATE LIMITED	Director	14/12/2005	14/12/2005	-	Active	NO
9	U74120MH2007NPL168353	AJIT BALAKRISHNAN FOUNDATION	Director	05/03/2007	05/03/2007	-	Active	NO
10	U67100MH2007PLC173779	EDELWEISS TRUSTEESHIP COMPANY LIMITED	Director	06/06/2008	30/10/2007	-	Active	NO

Name :

Mr. Tapan Kumar Makhanlal Chattopadhyay

Designation :

Director

Address :

Flat No. 902, Building C1, Montvertapristine, Kirkee, Pune - 411020, Maharashtra, India

Date of Birth/Age :

09.12.1938

Date of Appointment :

03.05.2007

DIN :

00114708

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	U29299MH1958PLC011250	GREAVES LEASING FINANCE LIMITED	Director	01/04/1998	01/04/1998	-	Active	NO
2	U29291MH1973PTC016361	PEMBRIL INDUSTRIAL AND ENGINEERING COMPANY PRIVATE LIMITED	Director	31/03/2006	31/03/2006	-	Active	NO
3	U01119PN1983PLC133199	PREMIUM TRANSMISSION LIMITED	Director	03/05/2007	03/05/2007	-	Active	NO

Name :

Mr. Santanoo Medhi

Designation :

Managing Director

Address :

Villa No.10 and 10A, Caswani Ashton Woods SY No38/2, Village Varthu, Bangalore – 560103, Karnataka, India

Date of Birth/Age :

01.03.1967

Date of Appointment :

02.10.2012

DIN No. :

03066413

Name :

Mr. Vijay Kishore Sharma

Designation :

Director

Address :

12, Totnes Walk, East Finchley, London – N20AD

Date of Birth/Age :

29.09.1954

Date of Appointment :

27.07.2012

DIN No. :

05313925

KEY EXECUTIVES

Name :	Mr. Ratanlal Tikaram Goel
Designation :	Secretary
Address :	Flat No.201/202, Vedant Apartment, Sadashivpeth, Pune - 411030, Maharashtra, India
Date of Birth/Age :	09.02.1962
Date of Appointment :	08.06.2004
PAN :	ABJPG4245P
Name :	Mr. Ashish
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 14.06.2013

Names of Shareholders (Equity Shares)	No. of Shares
DBH International Private Limited, India	12499980
Marble Arch Investments PCC Limited, Mauritius	10000000
Karan Thapar	5
Karam Thapar	5
Suresh Kumar Mamanchand Jain	2
S P Saini	2
Surinder Singh Chugh	2
Ratanlal Tikaram Goel	2
Praveen Sachdev	2
Total	22500000

Names of Shareholders (Preference Shares)	No. of Shares
Greaves Leasing Finance Limited, India	207500
Total	207500

As on 14.06.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	44.44
Bodies corporate	55.56
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Gearboxes and Transmission Units.

Products :

Products Description	ITC Code No.
Industrial Gear Boxes	84839000
Fluid Couplings	84836020
Geared Motors	85013119

Exports :

Products :

Gear Boxes

Countries :

· Europe

· South Asian Country

Imports :

Products :

Raw Material

Countries :

· Korea

· China

Terms :

Selling :

Cash / Credit

Purchasing :

Cash / Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

1250 (Approximately)

Bankers :

· Axis Bank Limited, JM Road Branch, 1262/B, Sterling Plaza, Jangali Maharaj Road, Deccan Gymkhana, Pune - 411004, Maharashtra, India

· ICICI Bank Limited, Land Mark, Race Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India

· State Bank of India, Tarachandra Branch, India

· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India

· HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long-term borrowings
Term loans from banks	231.250	93.750
Short-term borrowings
Other loans and advances	249.770	174.236
Total	481.020	267.986

Banking Relations :	---
Auditors :
Name :	Walker, Chandiok and Company Chartered Accountants
Address :	401, Century Arcade, Narangi Baug Road, Off Boat Club Road, Pune - 411001, Maharashtra, India
PAN No.:	AAAFW4298E
Holding Company :	DBH International Private Limited, India CIN : U74899DL1950PTC057209
Subsidiary company:	· Premium Transmission Cooperatie UA · Premium Stephan BV, Netherlands

CAPITAL STRUCTURE

As on 14.06.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
26000000	Equity Shares	Rs.10/- each	Rs.260.000 Millions
3450000	Preference Shares	Rs.100/- each	Rs.345.000 Millions
	Total		Rs.605.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
22500000	Equity Shares	Rs.10/- each	Rs.225.000 Millions
2075000	Preference Shares	Rs.100/- each	Rs.207.500 Millions
	Total		Rs.432.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	432.500	432.500	598.567
(b) Reserves & Surplus	1375.206	1184.198	971.806
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1807.706	1616.698	1570.373
(3) Non-Current Liabilities
(a) long-term borrowings	231.250	93.750	30.000
(b) Deferred tax liabilities (Net)	83.309	64.375	61.164
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	27.057
Total Non-current Liabilities (3)	314.559	158.125	118.221
(4) Current Liabilities
(a) Short term borrowings	316.415	233.086	304.349
(b) Trade payables	0.000	0.000	601.367
(c) Other current liabilities	1071.096	930.485	96.888
(d) Short-term provisions	134.743	158.792	110.118
Total Current Liabilities (4)	1522.254	1322.363	1112.723
TOTAL	3644.519	3097.186	2801.316
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1614.804	977.545	915.115
(ii) Intangible Assets	21.588	9.753	13.254
(iii) Capital work-in-progress	21.273	144.023	23.579
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	226.288	226.288	340.903
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	47.364	122.769	16.315
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1931.317	1480.378	1309.166
(2) Current assets
(a) Current investments	0.000	2.798	0.000
(b) Inventories	560.145	557.660	477.946
(c) Trade receivables	922.189	873.996	755.144
(d) Cash and cash equivalents	131.678	87.978	127.704
(e) Short-term loans and advances	99.190	94.376	131.356
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1713.202	1616.808	1492.150
TOTAL	3644.519	3097.186	2801.316

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3714.699	3877.970	2558.623
		Other Income	31.666	48.566	20.640
		TOTAL (A)	3746.365	3926.536	2579.263
Less	EXPENSES
		Cost of materials consumed	1857.279	2070.556	1317.964
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	32.631	(67.129)	(27.505)
		Employee benefit expense	437.428	360.608	238.983
		Other expenses	785.959	791.280	496.795
		TOTAL (B)	3113.297	3155.315	2026.237
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		633.068	771.221	553.026
Less	FINANCIAL EXPENSES (D)		57.475	48.543	30.543
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		575.593	722.678	522.483
Less/ Add	DEPRECIATION/ AMORTISATION (F)		160.000	125.027	90.648
	PROFIT / [LOSS] BEFORE TAX (E-F) (G)		415.593	597.651	431.835
Less	TAX (H)		120.661	120.418	128.896
	PROFIT / [LOSS] AFTER TAX (G-H) (I)		294.932	477.233	302.939
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		365.250	271.806	272.194
Less	APPROPRIATIONS
		Transfer to General Reserve	150.000	250.000	200.000
		Preference Dividend (including Corporate Dividend Tax)	12.138	16.114	13.155
		Proposed Final Dividend (including Corporate Dividend Tax)	39.486	65.201	45.086
		Interim Dividend (including Corporate Dividend Tax)	52.300	52.474	45.086
	BALANCE CARRIED TO THE B/S		406.258	365.250	271.806
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods	201.453	233.537	125.560
	TOTAL EARNINGS		201.453	233.537	125.560
	IMPORTS
		Raw Materials	NA	NA	66.019
		Components and Spare Parts	NA	NA	2.360
		Capital Goods	NA	NA	1.799
	TOTAL IMPORTS		NA	NA	70.178
	Earnings/[Loss] Per Share (Rs.)		12.57	18.51	11.24

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	7.87	12.15	11.75
Net Profit Margin (PBT/Sales)	(%)	11.12	15.41	16.88
Return on Total Assets (PBT/Total Assets}	(%)	12.23	21.92	17.72
Return on Investment (ROI) (PBT/Networth)		0.23	0.37	0.27
Debt Equity Ratio (Total Debt /Networth)		0.30	0.20	0.21
Current Ratio (Current Asset/Current Liability)		1.13	1.22	1.34

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 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	Yes
20]	Export / Import details (if applicable)	Yes
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
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 Premium House, Old Mumbai Pune Road, Chinchwad, Pune – 411019, Maharashtra, India to present address w.e.f. 20.10.2010

OPERATIONS

The Company has achieved a net income of Rs. 3746.365 Millions during the year as against Rs.3926.536 Millions in the previous year, registering a de-growth of 5% in respect of continuing operations. Revenue was impacted due to economic slowdown in India; and the world in general.

The Net Profit after tax for the year in respect of continuing operations is also lower at Rs.294.932 Millions as against Rs.477.233 Millions in the previous year.

The revenue from exports during the year was Rs. 197.500 Millions against Rs.227.600 Millions in the previous year, as performance was impacted by the recessionary trends in the international markets. The Company has appointed new Annual Report 2012 - 13 3 dealers in East Europe and has strengthened its presence in other markets by introducing new products in order to achieve growth in the coming years. The company has drawn up ambitious plans for growth in its international operations by leveraging its European subsidiary. New products, especially for the export markets, are under development.

FUTURE OUTLOOK

As per reports from various sources, the Indian economy is at its slowest growth rate in nearly a decade. The marginal growth in the Industrial Sector Index coupled with a cautious monetary policy and tight credit controls signal a very challenging period ahead.

As the company has a diversified product portfolio and customer base, it is expected that its business is partially insulated from major impact due to global economical issues. Despite adversities, the Indian economy is growing at a reasonable pace; GDP is expected to grow at over 5% in the current financial year. This augurs reasonably well for future growth prospects of the Company inspite of challenges that the manufacturing sector is facing. The Company is continuously focusing on the development of new products, greater penetration in existing markets and expanding the geographies to cater to new markets.

The Directors are cautiously optimistic of an improved performance in the current year, barring any unforeseen circumstances.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2013	As on 31.03.2012
Short-term borrowings
Other loans and advances	66.645	58.850
Total	66.645	58.850

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
	10449918	26/08/2013	65,947,622.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA -  400018, INDIA	B85343911
2	10412928	15/03/2013	100,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B71173173
3	10345159	28/02/2012	100,000,000.00	AXIS BANK LIMITED	214- 215 CITY MALL, 2ND FLOOR, PLOT NO 1, S. NO 1  32,GANESHKHIND ROAD (UNIVERSITY ROAD), PUNE, MAHARASHTRA - 411007, INDIA	B36131514
4	10343653	24/02/2012	200,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B35615905
5	10303841	01/08/2013 *	340,200,000.00	AXIS BANK LIMITED	214-215,CITY MALL,2ND FLOOR, PLOT NO.1, S.NO.132,GANESH KHIND ROAD(UNIVERSITY ROAD), PUNE, MAHARASHTRA - 411007, INDIA	B85529212
6	10143416	02/08/2011 *	75,000,000.00	AXIS BANK LIMITED	1262/B STERLING PLAZA, JANGALI MAHARAJ ROAD, DECCAN GYMKHANA, PUNE, MAHARASHTRA - 411004, INDIA	B21618368
7	10144455	14/12/2011 *	201,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, TARA CHAMBERS, PUNE, MAHARASHTRA - 411003, INDIA	B29119641
8	10127475	28/01/2009 *	75,000,000.00	AXIS BANK LIMITED	1262/B STERLING PLAZA, JANGALI MAHARAJ ROAD, DECCAN GYMKHANA, PUNE, MAHARASHTRA - 411004, INDIA	A56968530
9	10066696	02/08/2011 *	150,000,000.00	AXIS BANK LIMITED	1262/B STERLING PLAZA, JANGALI MAHARAJ ROAD, DECCAN GYMKHANA, PUNE, MAHARASHTRA - 411004, INDIA	B21619770
10	10074675	28/02/2012 *	300,000,000.00	AXIS BANK LIMITED	214/215, CITY MALL, 2ND FLOOR, GANESHKHIND (PUNE  UNIVERSITY) ROAD, PUNE, MAHARASHTRA - 411007, INDIA	B35877943
11	10019534	24/07/2006	340,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	A04680542

* Date of charge modification

FIXED ASSETS

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

AS PER WEBSITE

PRESS RELEASES

INDSUR GLOBAL ACQUIRES PREMIUM TRANSMISSION'S AUTOMOTIVE GEAR DIVISION

10 August 2011

Indsur Global manufactures insulator castings for the automobile sector at its Halol plant. The acquisition provides Indsur access to key customers and a strong platform for expansion. For Premium, the exit would facilitate to focus on its core business of industrial transmission solutions. 

Premium's automotive gear division is located at Aurangabad and caters to three wheelers and four wheelers and Auto Majors like Piaggio, MandM, Atul Auto, etc.

Oromoted by Karan Thapar (brother of Avantha Group's cheif Gautam Thapar), Premium Transmission manufactures mechanical power transmission products such as gearboxes, geared motors, fluid couplings across its four manufacturing units in India - Pune, Falta (near Kolkata) and 2 units in Aurangabad.

It recently acquired Germany-based Stephan Rexnord Stephan GmbH and CoKG, a manufacturer of industrial gear boxes and geared motors. Premium Transmission Limited is setting up a new facility at Shendra in Aurangabad to compliment the German acquisition. This facility is being set up with an investment of Rs. 25 crores and is expected to be commissioned by March 2012.

Premium serves clients in material handling, sugar mills and machine manufacturing, iron and steel, passenger lifts, cooling towers, chemicals, cement, paper, leather and plastics, food processing and tea, collieries mines and haulages and pharma.

Karan Thapar's other group companies include Greaves Cotton Limited and English Indian Clays Limited

Premium Transmission reported an increase of 17% in sales from Rs.271.9 Cr in FY2009 to Rs.318.6 Cr in FY2010. Its PAT increased by 15% from Rs.24 Cr in FY2009 to Rs.27.79 Cr in FY2010. Industrial transmission solutions contributed 92% of its turnover, while the automotive gear manufacturing division contributed only about 7% to the company's turnover.

PREMIUM TRANSMISSION ACQUIRES GERMAN FIRM

Pune July 27, 2011

Pune-based, Premium Transmission Limited has announced the acquisition of the entire business of Rexnord Stephan GmbH and CoKG, Germany.

The acquisition has been done through Netherlands based SPV- Premium Stephan for an undisclosed sum.

"The acquisition of Stephan is a major step forward in the Company's desire to build a global gear business. The focus of the group is to specialise in the supply of industrial gearboxes, ensuring that our resources are dedicated to the provision of innovative gearing solutions. We intend to significantly grow the Hameln business by offering our customers flexibility in the design and supply of a wider range of products and services, enabling us to meet the demands of our customers, more effectively and efficiently," said Praveen, Chairman, Premium Transmission commenting on the development.

"This acquisition is a strategic move to combine the inherent strengths of Indian and German entities and use it to provide elaborate and better industrial power transmission solutions to domestic and European customers. The two companies not only have complementing products but also share common technology, quality assurance and customer service philosophies, thus providing a win- win situation to Premium as well as to its global customers," added Atulya Gupta, MD, Premium Transmission, which manufactures industrial gearboxes in India.

Stephan manufactures geared motors, industrial gearboxes, customised solutions and high precision robotic drive systems with current sales of over euro 21million.

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.61.33
UK Pound	1	Rs.100.79
Euro	1	Rs.84.38

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NTH

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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		50

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.