1. Summary Information

		Country	India
Company Name	GOODEARTH MARITIME LIMITED	Principal Name 1	Mr. Pendurti Brahma Anandam
Status	Moderate	Principal Name 2	Mr. Pandurti Ranjit
		Registration #	18-061232
Street Address	5^th Floor, Tower – II, TVH Beliciaa Towers, 94, MRC Nagar, Chennai - 600028, Tamilnadu
Established Date	05.05.2000	SIC Code	--
Telephone#	91-44-43033444	Business Style 1	Shipping
Fax #	91-44-43033555/ 28156797	Business Style 2	--
Homepage	www.archeangroup.com	Product Name 1	--
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs. 604,863,000/-	Product Name 3	--
Shareholders	Bodies corporate – 55.07% Directors or relatives of directors – 44.93%	Banking	State Bank of Hyderabad
Public Limited Corp.	No	Business Period	13 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	B (27)
Related Company
Relation	Country	Company Name	CEO
Associates	India	Good Navigation Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	3,189,421,000	Current Liabilities	397,775,000
Inventories	89,317,000	Long-term Liabilities	10,360,293,000
Fixed Assets	8,052,097,000	Other Liabilities	0,068,000
Deferred Assets	0,000	Total Liabilities	10,758,136,000
Invest& other Assets	5,184,877,000	Retained Earnings	5,152,713,000
		Net Worth	5,757,576,000
Total Assets	16,515,712,000	Total Liab. & Equity	16,515,712,000
Total Assets (Previous Year)	14,438,632,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	2,032,921,000	Net Profit	22,178,000
Sales(Previous yr)	1,394,979,000	Net Profit(Prev.yr)	(336,819,000)

MIRA INFORM REPORT

Report Date :

31.07.2013

IDENTIFICATION DETAILS

Name :	GOODEARTH MARITIME LIMITED
Registered Office :	5^th Floor, Tower – II, TVH Beliciaa Towers, 94, MRC Nagar, Chennai - 600028, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.05.2000
Com. Reg. No.:	18-061232
Capital Investment / Paid-up Capital :	Rs. 604.863 Millions
CIN No.: [Company Identification No.]	U63020TN2000PLC061232
TAN No.: [Tax Deduction & Collection Account No.]	CHEGO2396C
PAN No.: [Permanent Account No.]	AABCG3285D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The subject is engaged in the business of shipping.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 23000000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a part of Chennai – based “ARCHEAN GROUP”. It is an established company having a moderate track record. The financial for the year 2012 is not available. As per the previous year’s, the profit margin seems to be low. However, networth of the company seems to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be unknown. 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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term rating: D
Rating Explanation	This rating are in default or are expected in default soon.
Date	December 2011

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. A. R. Balaji
Designation :	Finance Head
Contact No.:	91-44-43033444
Date :	30.07.2013

LOCATIONS

Registered Office :	5^th Floor, Tower – II, TVH Beliciaa Towers, 94, MRC Nagar, Chennai - 600028, Tamilnadu, India
Tel. No.:	91-44-43033444
Fax No.:	91-44-43033555/ 28156797
E-Mail :	info@gooearth.co.in madhan@goodearth.co.in info@archeangroup.com secretarial@archeangroup.com
Website :	http://www.archeangroup.com

DIRECTORS

As on: 29.09.2012

Name :

Mr. Pendurti Brahma Anandam

Designation :

Director

Address :

21/9, Gin Road, T Nagar, Chennai – 600017, Tamil nadu, India

Date of Birth/Age :

01.12.1938

Qualification :

B.Com

Date of Appointment :

05.05.2000

DIN No.:

00033317

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	U26999TN1984PTC017091	Archean Industries Private Limited	Managing director	07/01/1984	07/01/1984	-	Active	NO
2	U14299TN1988PTC015896	Form Stones Private Limited	Director	23/11/1988	23/11/1988	18/02/2008	Active	NO
3	U24231TN1989PTC016983	Continental Health Care Products Private Limited	Director	06/03/1989	06/03/1989	09/02/2008	Strike off	NO
4	U24117TN1982PTC017092	Jakhau Salt Company Private Limited	Director	05/06/1991	05/06/1991	30/03/2010	Active	NO
5	U14220TN1996PLC034264	Bharat Ssangyongsalt Corporation Limited	Director	19/07/1997	19/07/1997	-	Active	NO
6	U51101TN1990PLC018819	Bharath Salt Refineries Limited	Director	09/02/1998	09/02/1998	24/03/2010	Active	NO
7	U63020TN2000PLC061232	Goodearth Maritime Limited	Director	05/05/2000	05/05/2000	-	Active	NO
8	U51496TN2004PTC055022	Aria Chemicals Private Limited	Director	27/12/2004	27/12/2004	28/11/2011	Active	NO
9	U35111TN2006PTC058612	Total Maritime Design Private Limited	Director	21/07/2007	23/01/2006	-	Active	NO
10	U23201TN2006PTC058864	Greenergy Gujarat Company Private Limited	Director	11/08/2007	15/02/2006	21/03/2012	Active	NO
11	U74999TN2006PTC060095	Greenergy Tamilnadu Private Limited	Director	18/09/2007	05/06/2006	21/03/2012	Active	NO
12	U74999TN2006PTC060094	Greenergy India Private Limited	Director	18/09/2007	05/06/2006	-	Active	NO
13	U29113TN2006PTC061846	Goodearth Shipbuilding Private Limited	Director	22/12/2006	22/12/2006	02/06/2012	Active	NO
14	U29222TN2007PLC062850	Gml Offshore Limited	Director	30/09/2008	27/03/2007	-	Active	NO
15	U63032TN2007PTC063604	Good Navigation Private Limited	Director	30/09/2008	22/05/2007	-	Active	NO
16	U70101TN2007PTC064291	Ramanujapuram Properties Private Limited	Director	19/09/2008	20/07/2007	05/08/2009	Active	NO
17	U24100TN2007PLC064778	Aria Chemicals (Orissa) Limited	Director	23/01/2009	18/09/2007	-	Active	NO
18	U45102TN2007PTC065331	Opera Holdings Private Limited	Director	19/09/2008	09/11/2007	-	Active	NO
19	U27203MH2007PTC176035	Konkan Alumina Private Limited	Director	18/09/2008	20/11/2007	-	Active	NO
20	U24298TN2009PTC072270	Archean Chemical Industries Private Limited	Director	14/07/2009	14/07/2009	24/03/2010	Active	NO
21	U24120TN2010PTC076143	Goodearth Fertilisers Company Private Limited	Director	30/09/2011	15/06/2010	-	Active	NO
22	U14102TN2013PTC090750	Kgf Granites Private Limited	Director	25/04/2013	25/04/2013	-	Active	NO

Name :

Mr. Pandurti Ranjit

Designation :

Director

Address :

21/9, Giri Road, T. Nagar, Chennai – 600 017, Tamilnadu, India

Date of Birth/Age :

11.02.1974

Date of Appointment :

01.04.2010

DIN No.:

01952929

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	U29113TN2006PTC061846	Goodearth Shipbuilding Private Limited	Director	30/09/2008	29/01/2008	02/06/2012	Active	NO
2	U63020TN2000PLC061232	Goodearth Maritime Limited	Whole-time director	01/04/2010	29/01/2008	-	Active	NO
3	U26999TN1984PTC017091	Archean Industries Private Limited	Director	30/09/2008	09/02/2008	-	Active	NO
4	U27203MH2007PTC176035	Konkan Alumina Private Limited	Director	18/09/2008	09/02/2008	-	Active	NO
5	U51101TN1990PLC018819	Bharath Salt Refineries Limited	Director	13/09/2008	18/02/2008	30/03/2010	Active	NO
6	U70101TN2008PTC069599	Metro Properties And Logistics Enterprises Private Limited	Director	23/09/2009	20/10/2008	-	Active	NO
7	U24110TN2009PTC071093	Archean Fertilizer Private Limited	Director	30/09/2010	24/03/2009	-	Active	NO
8	U45200AP2005PTC046382	Vishaka Ship Building Private Limited	Director	29/09/2010	08/12/2009	22/08/2011	Active	NO
9	U63032TN2007PTC063604	Good Navigation Private Limited	Director	30/09/2010	08/12/2009	-	Active	NO
10	U91990MH1979GAP021664	Indian National Shipowners Association	Director	30/09/2010	30/09/2010	28/09/2012	Active	NO
11	U70102TN2011PTC079155	Archean Design And Development Private Limited	Director	10/02/2011	10/02/2011	-	Active	NO
12	U70200TN2009PTC070872	Add-Albatross Properties Private Limited	Director	07/09/2011	27/06/2011	-	Active	NO
13	U70200TN2012PTC083874	Add Zephyr Properties Private Limited	Director	04/01/2012	04/01/2012	-	Active	NO
14	U70102TN2012PTC083880	Add Amarante Properties Private Limited	Director	05/01/2012	05/01/2012	-	Active	NO
15	U93000TN2008NPL068991	Ambulance Access Foundation India	Additional director	13/02/2013	13/02/2013	-	Active	NO

Name :

Mr. Shyamsundar Sundaresan Gurumoorthy

Designation :

Nominee director

Address :

1905/1906 Sky Flama B Dosti, Tokersi Jiviraj Road, Patel Sewree, Parel, Mumbai-400015, Maharashtra, India.

Date of Birth/Age :

04.04.1974

Date of Appointment :

30.09.2009

DIN No.:

02202523

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	U63010AP1989PLC010716	Seaways Shipping And Logistics Limited	Nominee director	28/05/2008	28/05/2008	-	Active	NO
2	L45200MH1993PLC071970	Ashoka Buildcon Limited	Nominee director	11/07/2008	18/06/2008	-	Active	NO
3	U63032TN2007PTC063604	Good Navigation Private Limited	Director	30/09/2008	19/06/2008	13/08/2009	Active	NO
4	U45200AP2005PTC046382	Vishaka Ship Building Private Limited	Director	29/09/2008	19/06/2008	05/09/2009	Active	NO
5	U27310GJ2006PLC048563	Se Forge Limited	Director	03/11/2008	17/10/2008	16/11/2010	Active	NO
6	U29113TN2006PTC061846	Goodearth Shipbuilding Private Limited	Nominee director	23/03/2009	23/03/2009	13/08/2009	Active	NO
7	U63020TN2000PLC061232	Goodearth Maritime Limited	Nominee director	30/09/2009	23/03/2009	-	Active	NO
8	U11102PN2006PLC021839	Maharashtra Natural Gas Limited	Nominee director	29/04/2009	29/04/2009	-	Active	NO
9	U11101AP2006PLC051191	Krishna Godavari Gas Network Limited	Nominee director	17/06/2009	17/06/2009	-	Active	NO
10	L51909TN1955PLC002431	Sical Logistics Limited.	Nominee director	24/09/2009	24/09/2009	13/11/2010	Active	NO
11	U45203TN2007PLC063432	Sical Infra Assets Limited	Nominee director	28/10/2009	28/10/2009	14/12/2010	Active	NO
12	L63010GJ1992PLC018106	Gujarat Pipavav Port Limited	Director	29/04/2011	29/10/2010	27/09/2012	Active	NO
13	U45200TN2001PLC088377	Gvr Infra Projects Limited	Nominee director	22/07/2011	22/07/2011	-	Active	NO
14	U40200UP2005PLC029538	Central U.P. Gas Limited	Nominee director	30/07/2012	06/09/2011	21/06/2013	Active	NO

Name :

Mr. Eivind Grostad

Designation :

Director

Address :

P.O. Box 11539, Dubai

Date of Birth/Age :

15.05.1944

Date of Appointment :

30.09.2008

DIN No.:

02417279

Name :

Mr. Subrahmanyam Meenakshisundaram

Designation :

Director

Address :

F-3, Kumars Suja Apartments, No. 5 Kamalabai Street, T Nagar, Chennai - 600017

Date of Birth/Age :

26.03.1954

Date of Appointment :

30.09.2010

DIN No.:

01176085

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	U63090TN2006PTC061459	Plaza Travels Private Limited	Director	20/09/2007	03/01/2007	04/02/2008	Active	NO
2	U29222TN2007PLC062850	Gml Offshore Limited	Director	30/09/2008	27/03/2007	-	Active	NO
3	U24100TN2007PLC064778	Aria Chemicals (Orissa) Limited	Director	23/01/2009	18/09/2007	-	Active	NO
4	U27203MH2007PTC176035	Konkan Alumina Private Limited	Director	18/09/2008	09/02/2008	-	Active	NO
5	U70101TN2007PTC064291	Ramanujapuram Properties Private Limited	Director	19/09/2008	11/02/2008	05/08/2009	Active	NO
6	U51496TN2004PTC055022	Aria Chemicals Private Limited	Director	30/09/2009	03/11/2008	28/11/2011	Active	NO
7	U29113TN2006PTC061846	Goodearth Shipbuilding Private Limited	Director	30/09/2010	08/12/2009	02/06/2012	Active	NO
8	U63032TN2007PTC063604	Good Navigation Private Limited	Director	30/09/2010	08/12/2009	-	Active	NO
9	U63020TN2000PLC061232	Goodearth Maritime Limited	Director	30/09/2010	18/03/2010	-	Active	NO
10	U24298TN2009PTC072270	Archean Chemical Industries Private Limited	Director	28/09/2010	24/03/2010	-	Active	NO
11	U24110TN2009PTC071093	Archean Fertilizer Private Limited	Director	30/09/2011	11/10/2010	-	Active	NO
12	U70102TN2011PTC079155	Archean Design And Development Private Limited	Director	10/02/2011	10/02/2011	-	Active	NO

Name :

Mr. Pendurthi Ravi

Designation :

Director

Address :

21/9, Giri Road, T. Nagar, Chennai – 600 017, Tamilnadu, India

Date of Birth/Age :

15.12.1971

Date of Appointment :

30.09.2010

DIN No.:

02334379

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	U24117TN1982PTC017092	Jakhau Salt Company Private Limited	Director	30/09/2008	25/09/2008	30/03/2010	Active	NO
2	U74999TN2006PTC060094	Greenergy India Private Limited	Director	21/09/2009	03/11/2008	-	Active	NO
3	U24110TN2009PTC071093	Archean Fertilizer Private Limited	Director	30/09/2010	24/03/2009	-	Active	NO
4	U72200TN2000PTC045612	Seal Infotech Private Limited	Director	30/09/2009	13/05/2009	-	Active	NO
5	U40109TN2009PTC072453	Archean Energy And Infrastructure Private Limited	Director	30/09/2010	03/08/2009	-	Active	NO
6	U24298TN2009PTC072270	Archean Chemical Industries Private Limited	Additional director	05/08/2009	05/08/2009	24/03/2010	Active	NO
7	U63032TN2007PTC063604	Good Navigation Private Limited	Director	30/09/2009	13/08/2009	-	Active	NO
8	U29113TN2006PTC061846	Goodearth Shipbuilding Private Limited	Director	30/09/2009	13/08/2009	02/06/2012	Active	NO
9	U45200AP2005PTC046382	Vishaka Ship Building Private Limited	Director	29/09/2009	05/09/2009	22/08/2011	Active	NO
10	U63020TN2000PLC061232	Goodearth Maritime Limited	Director	30/09/2010	18/03/2010	-	Active	NO
11	U72200TN2010PTC075842	Appsfreedom Private Limited	Director	28/05/2010	28/05/2010	-	Active	NO
12	U40100GJ2010PTC061777	Argenco Energy Private Limited	Director	26/09/2011	29/07/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramanan Swaminathan
Designation :	Secretary
Address :	Flat No. A-3, 1st Floor, KPM Soundarya Flats, Azhagiri Nagar, 2nd Street. Vadapalani, Chennai - 600026, Tamil Nadu, India
Date of Birth/Age :	30.04.1977
Date of Appointment :	08.06.2010
PAN No.:	ATBPS2731A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Panduruti Brahma Anandham	4804800
Pandurti Ranjit	3601200
Pendurthi Ravi	3600000
P. Pramila	15172144
Archean Industries Private Limited, Chennai, India	17917796
S. Meenakshisundaram	180
IDFC Trustee Company Limited, Mumbai, India	14561526
Nadathur Holdings and Investments Private Limited, Bangalore, India	828604
K. Narayanan	90
Total	60486340

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Bodies corporate	55.07
Directors or relatives of directors	44.93
Total	100.00

BUSINESS DETAILS

Line of Business :

The subject is engaged in the business of shipping.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• State Bank of Hyderabad, Ashok Mahal, 1204, Tulloch Road, Colaba, Mumbai - 400039, Maharashtra, India
• Allahabad Bank, International Branch, Anna Theatre Building, Mount Road, Chennai - 600002, Tamil Nadu, India
• Indian Overseas Bank, Nehru Park Branch, 872, Poonamallee High Road, Chennai - 600084, Tamil Nadu, India
• The Lakshmi Vilas Bank Limited, Cathedral Road Branch, 70 Cathedral Road, Chennai - 600086, Tamil Nadu, India
• Canara Bank 770a Anna Salai, Chennai - 600002, Tamil Nadu, India
• IDBI Bank Limited, IDBI Tower, World Trade Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India
• Uco Bank, Mount Road Branch, 212 Mount Road, Chennai - 600002, Tamil Nadu, India
• Bank of India, Iv Floor, Tarapore Towers, 826 Anna Salai, Chennai - 600002, Tamil Nadu, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks	6114.066	3803.319
Working capital loans banks	281.478	153.755
Other debt secured	241.453	275.364
Total	6636.997	4232.438

Financial Institution:

Srei Equipment Finance Private Limited, 'Vishwakarma', 86c, Topsia Road, Kolkata - 700046, West Bengal, India

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	No.10, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034, Tamil Nadu, India
Tel. No.:	91-44-39145000
Fax No.:	91-44-39145999
E-Mail :
PAN No.:	AAIFB4734C
Associates/Subsidiaries :	Good Navigation Private Limited CIN No. U63032TN2007PTC063604 Goodearth Shipbuilding Private Limited CIN No. U29113TN2006PTC061846 Vishaka Ship Building Private Limited CIN No. U45200AP2005PTC046382 Drillco Exploration FZE, Dubai (DCE) Drillco Exploration PTE Limited, Singapore (DCES) Goodearth Shipbuilding Private Limited, India (GSPL) Good Navigation Private Limited, India (GNPL) Vishaka Ship Building Private Limited, India (VSPL) Goodearth Maritime Limited, Jersey Channel Island (GML(J)) PT Core Minerals Limited, Jersey Channel Island ( PTCML) PT Rekasindo Guriang Tandang, Indonesia (PTRGT) GML BKS Private Limited, Jersey Channel Island (GML BKS) PT Core Mineral Indonesia, Indonesia ( PTCML(I))
Companies / entities in which directors are interested:	Archean Granites Private Limited, India (AGPL) Core Minerals (Firm),India (CM) Jakhau Salt Company Private Limited, India (JSCPL) Senfer Investments Limited, Cyprus (SIL)

CAPITAL STRUCTURE

As on: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
61000000	Equity Shares	Rs.10/- each	Rs. 610.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
60486340	Equity Shares	Rs.10/- each	Rs. 604.863 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		604.863	604.863	604.863
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5152.713	5130.536	5467.356
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		5757.576	5735.399	6072.219
LOAN FUNDS
1] Secured Loans		6636.997	4232.438	3340.461
2] Unsecured Loans		3723.296	4065.156	3190.190
TOTAL BORROWING		10360.293	8297.594	6530.651
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		16117.869	14032.993	12602.870
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		8052.097	4084.641	2831.431
Capital work-in-progress		4286.351	6080.748	5638.689
INVESTMENT		862.369	16.375	165.678
Assets Held for Sale		0.000	0.000	237.224
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	89.317	9.502	14.621
	Sundry Debtors	279.232	316.111	247.340
	Cash & Bank Balances	697.928	740.382	796.952
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2212.261	3173.325	2996.226
Total Current Assets		3278.738	4239.320	4055.139
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	237.356	251.947
	Other Current Liabilities	160.419	153.692
	Provisions	0.068	0.000
Total Current Liabilities		397.843	405.639	325.291
Net Current Assets		2880.895	3833.681	3729.848
MISCELLANEOUS EXPENSES		36.157	17.548	0.000
TOTAL		16117.869	14032.993	12602.870

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2032.921	1394.979	2673.483
		Other Income	62.849	56.451	124.449
		TOTAL (A)	2095.770	1451.430	2797.932
Less	EXPENSES
		Consumption materials changes inventories	168.042	191.432
		Manufacturing service costs	545.141	607.204
		Employee related expenses	350.957	288.026
		Administrative selling other expenses	131.511	82.119
		TOTAL (B)	1195.651	1168.781	649.827
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		900.119	282.649	2148.105
Less	FINANCIAL EXPENSES (D)		460.947	228.062	1161.436
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		439.172	54.587	986.669
Less/ Add	DEPRECIATION/ AMORTISATION (F)		406.625	382.812	414.068
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		32.547	(328.225)	572.601
Less	TAX (H)		10.369	8.594	5.806
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		22.178	(336.819)	566.795
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1808.314	2144.424	1679.629
Add	Amount Available Appropriation		5.738	0.709	0.000
Less	APPROPRIATIONS
		Transfer to tonnage tax reserve account	6.000	0.000	102.000
	BALANCE CARRIED TO THE B/S		1830.230	1808.314	2144.424
	EARNINGS IN FOREIGN CURRENCY		1667.470	NA	NA
	Earnings Per Share (Rs.)		0.37	(5.57)	9.37

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.06	(23.21)	20.26
Net Profit Margin (PBT/Sales)	(%)	1.60	(23.52)	21.41
Return on Total Assets (PBT/Total Assets}	(%)	0.29	(3.94)	8.31
Return on Investment (ROI) (PBT/Networth)		0.01	(5.72)	0.10
Debt Equity Ratio (Total Debt/Networth)		1.80	1.45	1.08
Current Ratio (Current Asset/Current Liability)		8.24	10.46	12.47

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	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)	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks	3723.296	4065.156
Total	3723.296	4065.156

Note: The registered office of the company has been shifted from 2 North Crescent Road, T Nagar, Chennai-600017, Tamilnadu, India to the present address w.e.f. 01.10.2008.

COMPANY PERFORMANCE

The company operated 9 bulk vessels during the year including m. v Good Providence which is owned and operated by Good Navigation Private Limited, a wholly owned subsidiary of the company.

Presence of handysize and supramax vessels in the fleet helped achieve 93% utlisation during the year, resulting revenue growth of 45%, inspite of a difficult business environment. In addition strategic positioning of the vessels helped to improve the earnings as compared to the previous year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10121035	28/03/2013 *	580,000,000.00	IDBI BANK LIMITED	115, Anna Salai, Saidapet, Chennai, Tamil Nadu-600015, INDIA	B75697763
2	10030194	29/12/2006	1,037,700,000.00	ALLAHABAD BANK	INTERNATIONAL BRANCH, 41 MOUNT ROAD, CHENNAI, Tamil Nadu - 600002, INDIA	A08530479
3	10027423	10/12/2009 *	1,605,500,000.00	BANK OF INDIA	IV FLOOR, TARAPORE TOWERS, 826 ANNA SALAI, CHENNAI, Tamil Nadu - 600002, INDIA	A76095793
4	10026947	27/10/2006	1,030,000,000.00	INDIAN BANK	KANNAMMAI BUILDINGS, 611 ANNA SALAI, CHENNAI, Tamil Nadu - 600006, INDIA	A06272322
5	10012486	06/03/2010 *	1,378,200,000.00	UCO BANK	FLAGSHIP CORPORATE BRANCH, 212, MOUNT ROAD, CHENNAI, Tamil Nadu - 600006, INDIA	A82446915
6	80025323	04/05/2013 *	575,300,000.00	PUNJAB NATIONAL BANK	Rayala Towers, III Floor, 781 - 785, Anna Salai, Chennai, Tamil Nadu - 600002, INDIA	B78509890
7	80018600	13/03/2006	1,297,100,000.00	PNB	LCB, 781-785, ANNA SALAI, RAYALA TOWERS, CHENNAI, Tamil Nadu - 600002, INDIA	-
8	80008631	16/01/2006	113,500,000.00	UCO BANK	MOUNT ROAD BRANCH, CHENNAI, Tamil Nadu - 600006, INDIA	-
9	80020840	01/06/2011 *	1,158,330,000.00	INDIAN OVERSEAS BANK	NEHRU PARK BRANCH, 872, POONAMALLEE HIGH ROAD, CHENNAI, Tamil Nadu - 600084, INDIA	B15260102

FIXED ASSETS:

• Freehold Land
• Buildings
• Ships, Tugs and Barges
• Plant and Machinery
• Furniture, Fixtures and Office Equipments
• 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. 59.82
UK Pound	1	Rs. 91.76
Euro	1	Rs. 79.32

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--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		27

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.