1. Summary Information

		Country	India
Company Name	COASTAL GUJARAT POWER LIMITED	Principal Name 1	Mr. Ramkrishnan R Sowmyan
Status	Satisfactory	Principal Name 2	Mr. Anil Kumar Dev Dutta Sardana
		Registration #	11-182213
Street Address	34, Sant Tukaram Marg, Carnac Bunder, Mumbai-400009, Maharashtra, India
Established Date	10.02.2006	SIC Code	--
Telephone#	91-22-67171000 / 67171231 / 67172911 / 67171644	Business Style 1	Generation
Fax #	91-22-67171950 / 67171953 / 66100863 / 67171649	Business Style 2	Distribution
Homepage	http://www.tatapower.com	Product Name 1	Power
# of employees	--	Product Name 2	--
Paid up capital	Rs. 39,705,000,000/-	Product Name 3	--
Shareholders	Bodies corporate – 100 %	Banking	State Bank of India
Public Limited Corp.	No	Business Period	7 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (52)
Related Company
Relation	Country	Company Name	CEO
Holding Company	India	The Tata Power Company Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	11,060,511,000	Current Liabilities	23,739,214,000
Inventories	3,407,996,000	Long-term Liabilities	116,480,890,000
Fixed Assets	51,747,164,000	Other Liabilities	129,387,000
Deferred Assets	0,000	Total Liabilities	140,349,491,000
Invest& other Assets	93,175,507,000	Retained Earnings	0,000
		Net Worth	19,041,687,000
Total Assets	159,391,178,000	Total Liab. & Equity	159,391,178,000
Total Assets (Previous Year)	132,398,064,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	80,499,000	Net Profit	(21,805,373,000)
Sales(Previous yr)	0,000	Net Profit(Prev.yr)	(31,248,000)

MIRA INFORM REPORT

Report Date :

01.03.2013

IDENTIFICATION DETAILS

Name :	COASTAL GUJARAT POWER LIMITED
Registered Office :	34, Sant Tukaram Marg, Carnac Bunder, Mumbai-400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	10.02.2006
Com. Reg. No.:	11-182213
Capital Investment / Paid-up Capital :	Rs. 41192.000 millions
CIN No.: [Company Identification No.]	U40102MH2006PLC182213
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Generation and Distribution of Power.
No. of Employees :	Information declined by management

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 76000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a Tata Group company. It is a power project is Gujarat. It is an established company having satisfactory track record. Even though the company was incorporated in the year 2006, it has recently commenced with its commercial operation from 7^th March 2012. There appears some accumulated losses recorded by the company. However, company is reputed and directors are experienced and respectable businessmen. Trade relations are reported as fair. Business is active .Payments are reported to be usually correct and as per commitment. In view of strong holding the company can be considered normal for business dealings at usual trade terms and condition.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

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

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	A1+ (Bank Guarantee)
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	25.06.2012

Rating Agency Name	CRISIL
Rating	A+ (Cash Credit)
Rating Explanation	Adequate degree of safety it carry low credit risk.
Date	25.06.2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DECLINED BY

Name :	Ms. Sridevi
Designation :	Assistant of Company Secretary
Contact No.:	91-22-67172911
Date :	26.02.2013

LOCATIONS

Registered Office :	34, Sant Tukaram Marg, Carnac Bunder, Mumbai-400009, Maharashtra , India
Tel. No.:	91-22-67171000 / 67171231 / 67172911 / 67171644
Fax No.:	91-22-67171950 / 67171953 / 66100863 / 67171649
E-Mail :	rameshsubramanyam@tatapower.com skarmarkar@tatapower.com
Website :	http://www.tatapower.com
Corporate office :	148, Lt Gen J Bhonsle Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India

DIRECTORS

As on 08.08.2012

Name :

Mr. Ramkrishnan R Sowmyan

Designation :

Director

Address :

A-701, NCPA Apartments, A Block, Nariman Point, Mumbai-400021, Maharashtra, India

Date of Birth/Age :

19.02.1949

Date of Appointment :

07.08.2007

DIN :

00005090

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	U45203AP1979PLC057431	TATA PROJECTS LIMITED	Director	28-09-12	14-07-87	-	Active	NO
2	U99999MH1942PLC003573	TATA HOUSING DEVELOPMENT COMPANY LIMITED	Director	25-03-94	25-03-94	13-09-10	Active	NO
3	L32200MH1986PLC040652	AGC NETWORKS LIMITED	Director	15-10-01	15-10-01	21-05-11	Active	NO
4	L28920MH1919PLC000567	THE TATA POWER COMPANY LIMITED	Whole-time director	01-10-09	01-10-04	-	Active	NO
5	U40105DL2001PLC110714	POWERLINKS TRANSMISSION LIMITED	Nominee director	03-12-04	03-12-04	25-09-08	Active	NO
6	U65990MH1979PLC021037	AF-TAAB INVESTMENT COMPANY LIMITED	Director	15-12-04	15-12-04	-	Active	NO
7	U40100MH2003PLC143770	TATA POWER TRADING COMPANY LIMITED	Director	28-12-04	28-12-04	-	Active	NO
8	L32200MH1940PLC003164	NELCO LIMITED	Director	31-10-05	31-10-05	-	Active	NO
9	U74899DL2000PLC106999	MAITHON POWER LIMITED	Director	23-09-11	30-11-05	-	Active	NO
10	U40109DL2001PLC111526	TATA POWER DELHI DISTRIBUTION LIMITED	Director	23-07-10	15-12-05	-	Active	NO
11	L28932PN1990PLC016314	AUTOMOTIVE STAMPINGS AND ASSEMBLIES LIMITED	Director	29-12-05	29-12-05	27-01-10	Active	NO
12	U74999MH2007PLC167623	INDUSTRIAL ENERGY LIMITED	Director	07-02-07	07-02-07	23-05-08	Active	NO
13	U74999MH2007PLC168291	INDUSTRIAL POWER UTILITY LIMITED	Director	03-08-12	01-03-07	-	Active	NO
14	U40108MH2007PLC168314	TATA POWER RENEWABLE ENERGY LIMITED	Director	20-06-11	02-03-07	-	Active	NO
15	U40102MH2006PLC182213	COASTAL GUJARAT POWER LIMITED	Director	07-08-07	22-04-07	-	Active	NO
16	U40106KA1989PLC034989	TATA POWER SOLAR SYSTEMS LIMITED	Director	11-07-12	28-07-09	-	Active	NO
17	U40108MH2011PLC211851	TATA POWER GREEN ENERGY LIMITED	Director	05-01-11	05-01-11	25-05-11	Active	NO

Name :

Mr. Anil Kumar Dev Dutta Sardana

Designation :

Director

Address :

22 A/B, New Akash Ganga Society, 80 Bhulabhai Desai Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

16.04.1959

Date of Appointment :

07.08.2007

DIN :

00006867

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	U40100MH2003PLC143770	TATA POWER TRADING COMPANY LIMITED	Director	28-12-04	28-12-04	18-10-07	Active	NO
2	U74899DL2000PLC106999	MAITHON POWER LIMITED	Director appointed in casual vacancy	25-04-11	30-11-05	-	Active	NO
3	L28920MH1919PLC000567	THE TATA POWER COMPANY LIMITED	Director	24-08-11	01-03-07	-	Active	NO
4	U40109DL2001PLC111526	TATA POWER DELHI DISTRIBUTION LIMITED	Director	05-08-11	14-03-07	-	Active	NO
5	U40102MH2006PLC182213	COASTAL GUJARAT POWER LIMITED	Director	07-08-07	22-04-07	-	Active	NO
6	U74999MH2007PLC167623	INDUSTRIAL ENERGY LIMITED	Nominee director	22-05-07	22-05-07	18-10-07	Active	NO
7	U74899DL1995PLC066685	TATA TELESERVICES LIMITED	Director	01-02-11	03-08-07	12-05-11	Active	NO
8	L64200MH1995PLC086354	TATA TELESERVICES (MAHARASHTRA) LIMITED	Director	31-01-11	12-03-08	19-05-11	Active	NO
9	U72200DL2004PLC228400	VIOM NETWORKS LIMITED	Director	09-09-10	06-10-09	28-01-11	Active	NO
10	L31102MH1964PLC013011	EMCO LIMITED	Director	25-08-10	27-01-10	14-01-11	Active	NO
11	U64202DL2007PLC223153	VIOM INFRA NETWORKS (MAHARASHTRA) LIMITED	Director	30-09-10	21-09-10	28-01-11	Active	NO
12	U65990MH1979PLC021037	AF-TAAB INVESTMENT COMPANY LIMITED	Director appointed in casual vacancy	09-02-11	09-02-11	-	Active	NO
13	U40106KA1989PLC034989	TATA POWER SOLAR SYSTEMS LIMITED	Director	21-12-11	21-12-11	-	Active	NO
14	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	23-06-12	23-06-12	-	Active	NO

Name :

Mr. Nawshir Hoshang Mirza

Designation :

Additional Director

Address :

6A, Somerset Place, 61-D, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

04.04.1950

Date of Appointment :

29.01.2011

DIN :

00044816

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	L29299TN1987PLC058738	ESAB INDIA LIMITED	Director	19-10-01	19-10-01	01-07-11	Active	NO
2	U44003MH1945PLC004403	TATA INDUSTRIES LIMITED	Director	10-10-03	10-10-03	27-07-09	Active	NO
3	U52110KA1999PTC067372	FOODWORLD SUPERMARKETS Private LIMITED	Director	23-12-03	23-12-03	-	Active	NO
4	U52599KA1996PTC067554	HEALTH & GLOW RETAILING PRIVATE LIMITED	Director	23-12-03	23-12-03	-	Active	NO
5	L30007KA1992PLC025294	MPHASIS LIMITED	Director	08-01-06	08-01-06	01-02-13	Active	NO
6	U35112MH2006PTC162431	JARDINE SHIPPING SERVICES (INDIA) PRIVATE LIMITED	Director	24-05-06	24-05-06	06-09-10	Under liquidation	NO
7	L28920MH1919PLC000567	THE TATA POWER COMPANY LIMITED	Director	08-08-07	29-09-06	-	Active	NO
8	U65999MH2008FTC183698	JRE ASIA CAPITAL ADVISORY SERVICES (INDIA) PRIVATE LIMITED	Alternate director	18-08-08	18-08-08	25-09-08	Active	NO
9	U40102MH2006PLC182213	COASTAL GUJARAT POWER LIMITED	Director	29-07-11	29-01-11	-	Active	NO
10	L29299PN1980PLC022787	THERMAX LIMITED.	Director	22-07-11	03-05-11	-	Active	NO
11	U40109DL2001PLC111526	TATA POWER DELHI DISTRIBUTION LIMITED	Additional director	28-08-12	28-08-12	-	Active	NO

Name :

Mr. Alok Ramdev Kanagat

Designation :

Additional Director

Address :

Flat No.501/502, Palm Beach, Pochkhanwalla Marg, Worli, Mumbai-400025, Maharashtra, India

Date of Birth/Age :

18.11.1951

Date of Appointment :

14.05.2012

Date of Cessation :

15.09.2012

DIN :

02193153

Name :

Mr. Chandan Roy

Designation :

Additional Director

Address :

Flat No. 158, Madan Lal Block, Asiad Games Village, New Delhi-110049, India

Date of Birth/Age :

16.07.1950

Date of Appointment :

14.09.2012

DIN No.:

00015157

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	U40108DL2002GOI117584	NTPC VIDYUT VYAPAR NIGAM LIMITED	Director	12-01-04	12-01-04	31-07-10	Active	NO
2	L40101DL1975GOI007966	NTPC LIMITED	Whole-time director	01-04-04	01-04-04	31-07-10	Active	NO
3	U10102MP1985GOI003160	NORTHERN COALFIELDS LIMITED	Director	26-08-04	26-08-04	18-07-08	Active	NO
4	U40104MH1987GOI149458	NUCLEAR POWER CORPORATION OF INDIA LIMITED	Director	08-10-04	08-10-04	31-07-10	Active	NO
5	U40105DL2005PTC138458	RATNAGIRI GAS AND POWER PRIVATE LIMITED	Nominee director	08-07-05	08-07-05	31-07-10	Active	NO
6	U40102DL2007PLC170661	BHARTIYA RAIL BIJLEE COMPANY LIMITED	Nominee director	23-05-08	23-05-08	31-07-10	Active	NO
7	U40104WB1985SGC039154	THE WEST BENGAL POWER DEVELOPMENT CORPORATION LIMITED	Director	12-12-08	12-12-08	21-09-11	Active	NO
8	U40104DL2008PTC183024	NABINAGAR POWER GENERATING COMPANY PRIVATE LIMITED	Nominee director	18-12-08	18-12-08	31-07-10	Active	NO
9	U40101WB2005PLC105797	VISA POWER LIMITED	Director	08-07-11	28-09-10	-	Active	NO
10	U45201DL2006PTC144446	BEAS INFRASTRUCTURE PRIVATE LIMITED	Director	20-12-10	20-12-10	-	Active	NO
11	U40106DL2011PTC219370	PLF ENERGY MAXIMA PRIVATE LIMITED	Director	18-05-11	18-05-11	-	Active	NO
12	U40300AP2009PLC065597	LANCO OPERATION AND MAINTENANCE COMPANY LIMITED	Director	30-09-11	26-07-11	-	Active	NO
13	L31102DL1957PLC193993	ALSTOM T & D India Limited	Director	27-07-12	06-08-11	-	Active	NO
14	U40101MH2007PLC174071	L&T POWER DEVELOPMENT LIMITED	Director	26-08-11	25-08-11	-	Active	NO
15	U74899DL2000PLC106999	MAITHON POWER LIMITED	Director	24-09-12	06-02-12	-	Active	NO
16	U45202WB1983PTC036391	DC INDUSTRIAL PLANT SERVICES PRIVATE LIMITED	Director	28-06-12	28-06-12	-	Active	NO
17	U40102MH2006PLC182213	Coastal Gujarat Power Limited	Additional director	14-09-12	14-09-12	-	Active	NO
18	U72200TN2006PLC060330	IL&FS TAMIL NADU POWER COMPANY LIMITED	Additional director	01-10-12	01-10-12	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramesh Narayanswamy Subramanyam
Designation :	Secretary
Address :	904 A, Eternia Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India
Date of Birth/Age :	27.06.1969
Date of Appointment :	26.07.2007
PAN :	AANPS8972J
Name :	Mr. Krishna Kumar Sharma
Designation :	Manager
Address :	748, Pocket B, Sector 13, Dwarka, New Delhi-110078, India
Date of Birth/Age :	01.04.1953
Date of Appointment :	07.05.2012
PAN No.:	ADMPS4917R
Name :	Ms. Sridevi
Designation :	Assistant of Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 08.08.2012

Names of Shareholders	No. of Shares
The Tata Power Company Limited, India	3970499994
The Tata Power Company Limited, India With A S Bapat	1
The Tata Power Company Limited, India With A Charan	1
The Tata Power Company Limited, India With H M Mistry	1
The Tata Power Company Limited, India With B J Shroff	1
The Tata Power Company Limited, India With S Ramakrishna	1
The Tata Power Company Limited, India With Sanjay Dubey	1
Total	3970500000

Allottees as on 01.02.2013

Names of Shareholders	No. of Shares
The Tata Power Company Limited, India	148700000
Total	148700000

Equity Share Break up (Percentage of Total Equity)

As on 08.08.2012

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Generation and Distribution of Power.

GENERAL INFORMATION

No. of Employees :

Information denied by the management.

Bankers :

· State Bank of India, Project Finance SBU, Voltas House, 23, J N Herdia Marg, Ballard Estate, Fort, Mumbai-400001, Maharashtra, India

· State Bank of India, SBU, 3^rd Floor, State Bank Bhavan, Madam Camma Road, Mumbai-400021, Maharashtra, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
From Bank
Indian Rupee loans	24121.604	17118.877
Foreign current loans	31532.130	10173.369
From Other Parties
Indian Rupee loans	15938.063	11052.019
Foreign current loans	34363.769	38160.783
Total	105955.566	76505.048

Banking Relations :		--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai-400018, Maharashtra, India.
Tel No.:	91-22-6667 9000
Fax No.:	91-22-6667 9100 / 9025
PAN :	AACFD4815A
Wholly Owned Subsidiary :		Energy Eastern Pte Limited, Singapore
Holding Company :		The Tata Power Company Limited, India CIN : L28920MH1919PLC000567
Fellow Subsidiary :		· Trust Energy Resources Pte. Limited, Singapore · Tata Power Trading Company Limited, India

CAPITAL STRUCTURE

After 08.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000000	Equity Shares	Rs.10/- each	Rs. 60000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4119200000	Equity Shares	Rs.10/- each	Rs. 41192.000 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000000	Equity Shares	Rs.10/- each	Rs. 60000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3970500000	Equity Shares	Rs.10/- each	Rs. 39705.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		39705.000	28305.000	17340.000
2] Share Application Money		1415.800	3420.000	520.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(22079.113)	(273.740)	(242.491)
NETWORTH		19041.687	31451.260	17617.509
LOAN FUNDS
1] Secured Loans		105955.566	76505.048	43010.605
2] Unsecured Loans		10525.324	4500.000	1720.000
TOTAL BORROWING		116480.890	81005.048	44730.605
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		135522.577	112456.308	62348.114
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		51747.164	2655.362	2579.203
Capital work-in-progress		93096.306	123963.092	69274.781
INVESTMENT		79.201	114.050	28.436
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3407.996	1006.817	0.000
	Sundry Debtors	552.546	0.000	0.000
	Cash & Bank Balances	6680.605	186.543	968.995
	Other Current Assets	1580.869	1723.804	0.000
	Loans & Advances	2246.491	2748.396	2694.458
Total Current Assets		14468.507	5665.560	3663.453
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1485.430	83.000	373.783
	Other Current Liabilities	22253.784	19777.403	12774.632
	Provisions	129.387	81.353	49.416
Total Current Liabilities		23868.601	19941.756	13197.831
Net Current Assets		(9400.094)	(14276.196)	(9534.378)
MISCELLANEOUS EXPENSES		0.000	0.000	0.072
TOTAL		135522.577	112456.308	62348.114

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	80.499	0.000	0.000
		Other Income	20.723	14.406	0.000
		TOTAL (A)	101.222	14.406	0.000
Less	EXPENSES
		Cost of fuel	170.328	0.000	--
		Employee benefits expenses	12.126	9.591	14.653
		Other Expenses	3053.799	35.954	--
		Exceptional Items	18000.000	0.000	--
		Administrative and other Expenses	--	--	206.825
		TOTAL (B)	21236.253	45.545	221.478
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)		(21135.031)	(31.139)	(221.478)
Less	FINANCIAL EXPENSES (D)		410.207	0.109	14.531
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(21545.238)	(31.248)	(236.009)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		260.135	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(21805.373)	(31.248)	(236.009)
Less	TAX (H)		0.000	0.000	6.483
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(21805.373)	(31.248)	(242.492)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(273.740)	(242.492)	0.000
	BALANCE CARRIED TO THE B/S		(22079.113)	(273.740)	(242.492)
	IMPORTS
		Capital Goods	5918.491	36051.003	28397.968
		Coal Imported	2487.084	713.211	0.000
	TOTAL IMPORTS		8405.575	36764.214	28397.968
	Earnings / (Loss) Per Share (Rs.)		(6.68)	(0.02)	(0.24)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(21542.13)	(216.91)	0.00
Net Profit Margin (PBT/Sales)	(%)	(27087.76)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(32.93)	(0.38)	(3.78)
Return on Investment (ROI) (PBT/Networth)		(1.15)	(0.00)	(0.01)
Debt Equity Ratio (Total Debt/Networth)		6.12	2.58	2.54
Current Ratio (Current Asset/Current Liability)		0.61	0.28	0.28

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	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	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

change of address:

The registered office has been changed from C/O Tata Services Limited, Jevan Bharti, Tower No. 1, 10^th Floor, 124 Connaught Place, New Delhi, India, to present w.e.f. 29.04.2008.

BACKGROUND:

Subject was incorporated on February 10, 2006 as a wholly owned subsidiary of Power Finance Corporation Limited and was a special purpose vehicle formed to acquire project land and complete preliminary formalities including and seeking initial consents for establishing the 4000 MW Ultra Mega Power Project (UMPP) at Mundra in the state of Gujarat which was awarded through the competitive bidding process. Certain parts of land required for the project at the time of transfer of shareholding of the company’s project could not be acquired by Power Finance Corporation Limited. This had to be subsequently acquired by CGPL.8860ng initial consents foror r established 0078, India Maharashtra, Indiaa, Indiaaat usual trade terms and condition.tment.

e

Under the terms of the competitive bidding for, the successful bidder was to acquire ownership of CGPL. In terms of share purchase Agreement dated 22^nd April, 2007, the entire shareholding of Power Finance Corporation Limited in coastal Gujarat Power Limited was acquired by The Tata Power Company Limited on April 22, 2007 vide a Share Purchase Agreement. Consequent, CGPL became a wholly owned subsidiary of The Tata Power Company Limited. During the year the Company has declared commercial operations for its first unit of 800 MW and continues the construction activities for the balance 4 unit of 800 MW each of its project site at Mundra.

FINANCIAL PERFORMANCE:

During the year, the loss before interest, depreciation and tax was Rs. 3135.100 millions (previous year Rs. 31.200 millions). This was mainly due to the unabsorbed fixed charges on account of Port Services and contractual payments towards coal transportation arising out of delay in availability of transmission lines. The Company reported a loss before tax of Rs. 21805.400 millions (previous year Rs. 31.200 millions).

PROJECT EXPENDITURE:

Capital work-in-progress (including capital advances) added during the year was Rs. 35543.500 millions (Rs. 56499.400 millions for the year ended 31^st March, 2011). This includes expenditure (net of income) towards Interest and Finance charges, impact of Foreign Currency translation, Fuel and General Overheads. Out of the total Capital work-in-progress, Fixed assets capitalised during the year was Rs. 55823.900 millions.

MUNDRA ULTRA MEGA POWER PROJECT - PROGRESS:

The Company experienced delays in availability of evacuation lines, which was part of the obligations of the beneficiaries of the Power Purchase Agreement (PPA). Despite this delay, the Company's 4000 MW Ultra Mega Power Project is fast nearing completion well ahead of the original plan. The cumulative progress till end of March 2012 was 94.37%. Capital expenditure of Rs. 182408.400 millions has been committed, against which Rs. 170820.200 millions have been spent so far as at 31st March, 2012. About 6,500 workers are deployed at project site. As stated earlier due to delay in availability of power evacuation line by over seven months, the commissioning of Unit 1 was delayed, which consequently impacted the other units commissioning too. Out of the three lines for power evacuation, two lines have been commissioned and the last line is expected to be commissioned by June 2012.

Unit 1 was commissioned on 7^th March, 2012 and is performing satisfactorily.

Unit 2: Generator transformers have been commissioned. Boiler Turbine Generator (BTG) interlock test has also been completed. Preparations are underway for readiness for coal firing and synchronization, which is expected in July 2012..

Unit 3: Turbine Generator (TG) was put on turning gear in the third quarter of FY12. Steam blowing is in progress. Generator transformers (GTs) have been back charged, installation of Ash handling system is nearing completion and testing and commissioning is expected during the second quarter of FY13.

Unit 4: Turbine Generator was put on turning gear in the last quarter of FY12. Boiler light-up and HP piping chemical cleaning have been completed. Preparation for steam blowing is in progress. CW pumps have been erected. Back charging of Generator Transformers is also expected in the 1st Quarter of FY13. Work at Ash handling system is in advanced stage of completion. Synchronisation is expected during the second quarter of FY13.

Unit 5: All major civil and structural works have been completed. DCS has been powered up. TG was boxed up in February 2012 and lube oil flushing has been completed. TG on turning gear is expected by end of the 1^st Quarter of FY13. HP piping is nearing completion and chemical cleaning is in progress. Boiler chemical cleaning is completed and boiler light-up (BLU) is targeted during the second quarter of FY13.

UNSECURED LOAN

Unsecured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Loans and advances from related parties
Unsecured loan from Holding Company	2123.100	2000.000
Other loans and advances (Guaranteed by the Holding Company)
Unsecured loan from banks	6500.000	2500.000
Buyer’s Credit	1902.224	0.000
Total	10525.324	4500.000

FIXED ASSETS

· Land

· Building

· Roads

· Plant and Equipment

· Furniture and Fixture

· Vehicles

· Office Equipment

· Transmission Lines, Street Lights, etc.

WEB DETAILS

PRESS RELEASE

TATA POWER COMPANY LIMITED: COASTAL GUJARAT POWER LIMITED DISCONTINUES SUPPLY TO RAJASTHAN DISCOMS FROM ITS 4000 MW UMPP AT MUNDRA, DUE TO NON-COMPLIANCES AS PER PPA ON PAYMENT SECURITY

01/07/2013

Coastal Gujarat Power Limited (CGPL), a wholly owned subsidiary of The Tata Power Company Limited (Tata Power) has invoked its rights under the Power Purchase Agreement (PPA) and has decided to discontinue the supply of Power to the three Rajasthan state-owned Distribution Companies from its Mundra Ultra Mega Power Project(UMPP) due to non-pliance on payment security related issues. This follows its several notices to the Diss required under the PPA, thus, effectively terminating its contract. The three Rajasthan Diss account for 10% of the total capacity from Mundra UMPP.

Due to consistent failure on the part of Rajasthan Diss as Procurers to fulfill the obligations including Collateral Arrangements in spite of repeated and regular reminders, CGPL was constrained to issue notice to the Rajasthan State Diss.   Rajasthan Diss have been in default of paying its dues in a timely manner leading to large outstanding dues. Mundra balance of payments on account of fuel tariffs is already a challenge as recovery through tariff is lower than spendings. With continued non payment in a timely manner and non-availability of payment security, the Company finds it difficult to manage payment for its obligations to buy fuel and discharge its various obligations. 

The Company will make alternate arrangements for contracting and selling this power.

About Coastal Gujarat Project Limited (CGPL):

CGPL is a Special Purpose Vehicle (SPV) formed for setting up and operating the 4000 MW Mundra UMPP. CGPL has signed a Power Purchase Agreement (PPA) with seven procurers (distribution licensees) from five states i.e. Gujarat, Maharashtra, Haryana, Rajasthan and Punjab for the sale of contracted capacity. The Mundra Power Project, India's first UMPP is progressing well. Unit 1, 2 and 3 have been missioned and Unit 4 has been synchronized last week. Unit 5 is under construction and is on schedule.

About Tata Power:

Tata Power is India's largest integrated power pany with a significant international presence. The Company has an installed generation capacity of 7700 MW in India and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely "Tata Power Delhi Distribution Limited" with Delhi Vidyut Board for distribution in North Delhi, 'Powerlinks Transmission Limited.' with Power Grid Corporation of India Limited. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Limited.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. It is one of the largest renewable energy players in India and is developing country's first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. Its international presence includes strategic investments in Indonesia through 30% stake in coal mines and a geothermal project; in Singapore through Trust Energy Resources to securitise coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called 'Cennergi' to develop projects in South Africa, Botswana and Namibia; in Australia through investments in enhanced geothermal and clean coal technologies and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan. With its track record of technology leadership, project execution excellence, world class safety processes, customer care and driving green initiatives, Tata Power is poised for a multi-fold growth and mitted to 'lighting up lives' for generations to e. Visit us at: www.tatapower.

TATA POWER SYNCHRONISES THIRD 800 MW UNIT AT MUNDRA UMPP

Monday, October 08, 2012

Country's largest private power producer Tata Power has synchronised the third 800 MW unit at Mundra project in Gujarat, taking its overall generation capacity to 6,899 MW.

Two units - 800 MW each - of the flagship 4,000 MW Mundra Ultra Mega Power Project (UMPP) were commissioned earlier this year.

The company said in a statement today that it has synchronised the third unit of Mundra UMPP, that is fired by imported coal.

Synchronisation is generally the last step before commissioning of a project.

"With this, the total power generation capacity of Tata Power stands at 6,899 MW, reinforcing its position as the largest private power producer in India," it noted. Mundra UMPP is being developed by Tata Power's wholly-owned subsidiary Coastal Gujarat Power Limited (CGPL).

The project utilises super critical boiler technology that is environment-friendly and efficient. "With synchronisation of unit 3, the thermal power generation capacity of Tata Power stands at 6,047 MW and the generation through clean sources such as hydro, wind and solar stands at 852 MW," the statement said.

Tata Power Managing Director Anil Sardana said the synchronisation of the third unit "is a reiteration of the fact that we have been throughout predictable on time and quality of execution".

According to the company, compared to other sub-critical plants in India, Mundra UMPP would use 1.7 million tonnes of less coal per year while generating the same quantum of power. "This not only makes available more coal in the long run for power generation but also reduces carbon emissions," it added.

The utility has approached the Central Electricity Regulatory Commission (CERC) seeking higher tariff for electricity generated from Mundra project, which would help to mitigate losses arising out of pricier imported coal. "We eagerly await a viable solution regarding the power supplied to the beneficiary states in India by the Central Electricity Regulatory Commission (CERC), so that this plant becomes a benchmark for other power plants in India in future," Sardana noted.

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.53.77
UK Pound	1	Rs.81.57
Euro	1	Rs.70.68

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	MRI

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	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		52

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.