MIRA INFORM REPORT

Report Date :

14.05.2013

IDENTIFICATION DETAILS

Name :	PENNA CEMENT INDUSTRIES LIMITED
Registered Office :	H. No. 8-2-268/A/1/S and S1, Plot No. 705, Road No. 3, Banjara Hills, Hyderabad – 500034, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012 (Profit and Loss Account)
Date of Incorporation :	24.10.1991
Com. Reg. No.:	01-013359
Capital Investment / Paid-up Capital :	Rs. 133.800 Millions (As on 31.03.2011)
CIN No.: [Company Identification No.]	U26942AP1991PLC013359
TAN No.: [Tax Deduction & Collection Account No.]	HYDP00534C
PAN No.: [Permanent Account No.]	AABCP2290D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of wide range of Cement like Ordinary Portland Cement, Portland Pozzolana Cement, Portland Slag Cement, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (55)

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

Maximum Credit Limit :	USD 31000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having a fine track record. The Balance sheet for the year 2012 is not available. The company has achieved better growth in its total revenue and profits during 2012. Financial position of the company is good. Directors are reported as experienced and respectable businessmen. Trade relations are reported as decent. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = A
Rating Explanation	Adequate degree of safety and low credit risk
Date	November 2011

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A1
Rating Explanation	Very strong degree of safety and lowest credit risk
Date	November 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.

LOCATIONS

Registered Office :	H. No. 8-2-268/A/1/S and S1, Plot No. 705, Road No. 3, Banjara Hills, Hyderabad – 500034, Andhra Pradesh
Tel. No.:	91-40-44565100
Fax No.:	91-40-23353947/2 3328073 / 23355941
E-Mail :	cs@pennacement.com bookings@pennacement.com
Website :	www.pennacement.com
Branch Office :	Located At Andhra Pradesh   Maharashtra Karnataka   Tamilnadu   Goa Kerala

DIRECTORS

As on 29.09.2012

Name :

Mr. Puttamreddy Prathap Reddy

Designation :

Managing Director

Address :

8-2-309/M/1 to 4, Navodaya Colony, Road 14, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

06.04.1958

Date of Appointment :

01.09.2012

DIN No.:

00093176

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	U65990AP1986PLC006362	P R CEMENT HOLDIINGS LIMITED	Director	07-04-86	07-04-86	-	Active	NO
2	U45200AP1989PLC010055	PIONEER HOLIDAY RESORRTS LIMITED	Director	26-05-89	26-05-89	-	Active	NO
3	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Managing director	01-09-12	24-10-91	-	Active	NO
4	U40109AP1995PLC019352	TRIDENT POWER SYSTEMS LIMITED	Director	29-08-97	29-08-97	21-11-11	Active	NO
5	U23209AP1998PLC028777	PIONEER REFINERY LIMITED	Director	22-01-98	22-01-98	18-10-10	Active	NO
6	U40109AP1997PLC027846	SRIBA INDUSTTRIES LIMITED	Director	29-09-99	29-09-99	10-10-10	Active	NO
7	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	18-12-00	18-12-00	-	Active	NO
8	U40109AP2001PLC038231	PIONEER GENCO LIMITED	Director	19-12-01	19-12-01	-	Active	NO
9	U40109AP2002PLC039289	PIONEER POWER CORPORATION LIMITED	Director	11-07-02	11-07-02	-	Active	NO
10	U40100AP1998PLC030368	PIONEER POWER LIMITED	Director	29-06-12	05-09-02	-	Active	NO
11	U24111AP1988PLC009231	ANDHRA PRADESH GAS POWER CORPORATION LIMITED	Director	23-12-02	23-12-02	-	Active	NO
12	U40101HP1994PLC014180	OM HYDROPOWER LIMITED	Director	08-09-04	08-09-04	29-06-12	Active	NO
13	U45200AP2004PLC044828	PIONEER BUILDERRS LIMITED	Director	29-06-12	09-12-04	-	Active	NO
14	U60231AP2006PLC048786	P R ENERRGY HOLDING LIMITED	Director	16-01-06	16-01-06	29-06-12	Active	NO
15	U27100AP2008PLC062127	PENNA STEELS LIMITED	Director	08-12-08	08-12-08	25-10-10	Active	NO
16	U74999AP2007PLC053278	ANRAK ALUMINNIUM LIMITED	Director	30-09-10	03-12-09	-	Active	NO
17	U26941AP2010PLC070651	PIONEER CEMENT INDUSTRIIES LIMITED	Director	30-09-10	30-09-10	-	Active	NO
18	U45209AP2010PLC070693	ANRAK SEAPORTSS LIMITED	Director	04-10-10	04-10-10	-	Active	NO
19	U40300AP2012PLC084566	PIONEER JK HYDROPOWER LIMITED	Director	04-12-12	04-12-12	-	Active	NO

Name :

Mr. Puttamreddy Venugopal Reddy

Designation :

Director

Address :

Plot No.702, Sriniketan Colony, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

17.04.1953

Date of Appointment :

01.01.2001

DIN No.:

00094146

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	U40109AP1997PLC027846	SRIBA INDUSTTRIES LIMITED	Director	29-09-99	29-09-99	-	Active	NO
2	U72200AP2000PLC034155	E-VISION SOFTECH INDIA LIMITED	Director	31-03-00	31-03-00	-	Active	NO
3	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	01-01-01	01-01-01	-	Active	NO
4	U40109AP2001PLC038231	PIONEER GENCO LIMITED	Director	19-12-01	19-12-01	-	Active	NO
5	U40100AP1998PLC030368	PIONEER POWER LIMITED	Director	05-09-02	05-09-02	-	Active	NO
6	U74120AP2003PLC040545	PIONEER THERMAL POWER CORPORATION LIMITED	Director	20-02-03	20-02-03	-	Active	NO
7	U26940AP1996PLC024558	SHRI VIJAY LAKSHMI INDUSTRIES LIMITED	Director	11-12-03	11-12-03	-	Active	NO
8	U45200AP2004PLC044828	PIONEER BUILDERRS LIMITED	Whole-time director	01-04-10	09-12-04	-	Active	NO
9	U60231AP2006PLC048786	P R ENERRGY HOLDING LIMITED	Director	16-01-06	16-01-06	-	Active	NO
10	U27100AP2008PLC062127	PENNA STEELS LIMITED	Director	08-12-08	08-12-08	-	Active	NO
11	U26941AP2010PLC070651	PIONEER CEMENT INDUSTRIIES LIMITED	Director	30-09-10	30-09-10	-	Active	NO
12	U14220AP2011PLC072016	TRISHUL CEMENT INDUSTRIES INDIA LIMITED	Director	03-01-11	03-01-11	-	Active	NO
13	U40102AP2009PLC064620	LAKSHMI JALAVIDYUT (KRISHNA) LIMITED	Director	31-08-12	16-07-12	-	Active	NO
14	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	29-09-12	07-09-12	-	Active	NO

Name :

Mr. Bezawada Vikram

Designation :

Whole-Time Director

Address :

H.NO. 8-2-309/M/6, Road No. 14, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

01.05.1978

Date of Appointment :

01.09.2012

DIN No.:

02086809

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	U40106AP2008PLC058374	COOLROCKS ENERGY LIMITED	Director	27-03-08	27-03-08	-	Active	NO
2	U74900AP2007PLC054981	KRSHNA HYDRO ENERGY LIMITED	Managing director	07-12-09	04-04-08	-	Active	NO
3	U40100AP1998PLC030368	PIONEER POWER LIMITED	Director	31-08-12	24-10-08	-	Active	NO
4	U72200AP2000PLC034262	COOLROC TECHNOLOGIES LIMITED	Director	28-09-12	02-04-09	-	Active	NO
5	U40102AP2009PLC064620	LAKSHMI JALAVIDYUT (KRISHNA) LIMITED	Director	04-08-09	04-08-09	01-08-12	Active	NO
6	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Whole-time director	01-09-12	28-06-10	-	Active	NO
7	U26941AP2010PLC070651	PIONEER CEMENT INDUSTRIIES LIMITED	Director	30-09-10	30-09-10	-	Active	NO
8	U40109AP1997PLC027846	SRIBA INDUSTTRIES LIMITED	Director	30-09-11	10-10-10	-	Active	NO
9	U24232AP2010PLC070871	PIONEER CHEMICALS LIMITED	Director	15-10-10	15-10-10	-	Active	NO
10	U23209AP1998PLC028777	PIONEER REFINERY LIMITED	Director	30-12-10	18-10-10	-	Active	NO
11	U40108AP2012PLC085160	KAMENG ENERGY LIMITED	Director	31-12-12	31-12-12	-	Active	NO

Name :

Mr. Munikrishna Papagari

Designation :

Director

Address :

Plot No.263, Kamalapuri Colony, Hyderabad – 500073, Andhra Pradesh, India

Date of Birth/Age :

01.02.1944

Date of Appointment :

10.02.1992

DIN No.:

00011580

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	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	10-02-92	10-02-92	-	Active	NO
2	U65993AP1995PTC022421	SUBHADRA INVESTMENTS PRIVATE LIMITED	Director	29-11-95	29-11-95	-	Active	NO
3	U17110AP1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Managing director	01-04-11	24-07-96	-	Active	NO
4	U51909AP1998PLC029396	REITZ INDIA LIMITED	Director	13-05-98	13-05-98	-	Active	NO
5	U26942AP1978PLC002288	RAASI CEMENT LIMITED	Director	04-06-98	04-06-98	15-03-08	Active	NO
6	U72200AP1998PTC029812	POINTSOFT PRIVATE LIMITED	Director	23-07-98	23-07-98	19-09-07	Active	NO
7	U01122AP1992PTC014781	SHREE SAI GARDENS PRIVATE LIMITED.	Director	25-08-99	25-08-99	-	Active	NO
8	U99999AP1999PTC031624	MYK LATICRETE INDIA PRIVATE LIMITED	Director	21-10-99	21-10-99	-	Active	NO
9	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Managing director	18-12-00	18-12-00	-	Active	NO
10	U24114AP2006PTC050128	MYK SCHOMBURG INDIA PRIVATE LIMITED	Director	16-05-06	16-05-06	-	Active	NO
11	U65990AP2008PTC061323	MYK HOLDINGS PRIVATE LIMITED	Director	07-10-08	07-10-08	-	Active	NO

Name :

Mr. Yeratapalli Santoshkumar Reddy

Designation :

Director

Address :

Plot No.275, MLA and MPs colony, Road No.10c, J Hills, Hyderabad – 500033, Andhra Pradesh, India

Date of Birth/Age :

01.07.1950

Date of Appointment :

29.09.2008

DIN No.:

00015092

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	U27203AP1990PLC011834	ENNAAR ALUMINIUM LIMITED	Director	09-10-90	09-10-90	-	Strike off	NO
2	U65993AP1991PTC012442	SRI VISHNAVI INVESTMENTS PRIVATE LIMITED	Director	12-03-91	12-03-91	-	Active	NO
3	L23100AP1989PLC010655	RAIN CALCINING LIMITED	Whole-time director	30-05-07	01-08-92	-	Amalgamated	NO
4	U05005AP1993PLC016493	LAKSHMI SEA FOODS LIMITED	Director	27-10-93	27-10-93	28-09-08	Active	NO
5	U65999AP1995PTC019589	YERETAPALLI INVESTMENTS PRIVATE LIMITED	Director	02-03-95	02-03-95	-	Active	NO
6	U65921AP1995PTC019609	SIRIUS TRANSPORT PRIVATE LIMITED	Director	06-03-95	06-03-95	29-04-11	Active	NO
7	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	29-09-08	27-09-07	-	Active	NO
8	U23209AP1999PLC031631	RAIN CEMENTS LIMITED	Whole-time director	01-04-08	24-11-07	10-02-11	Active	NO
9	U11100AP2008PLC058785	RAIN CII CARBON (VIZAG) LIMITED	Managing director	20-02-12	23-04-08	-	Active	NO
10	U24110AP2008PLC058852	SANVIRA INDUSTRIES LIMITED	Director	27-06-09	25-04-08	11-04-11	Active	NO

Name :

Lakshmi Kantham Dabbara

Designation :

Whole-Time Director

Address :

Plot No. 20, Flat No. 101, Padmajalaya Apartments, Srinagar Colony, Hyderabad - 500 073, Andhra Pradesh, India

Date of Birth/Age :

10.05.1951

Date of Appointment :

01.09.2012

DIN No.:

00822385

KEY EXECUTIVES

Name :	Mr. Raj Kumar Singh
Designation :	Secretary
Address :	31, Rudra Nagar Colony, Lothkunta, Secunderabad, Hyderabad- 500 015, Andhra Pradesh, India
Date of Birth/Age :	23.03.1975
Date of Appointment :	07.11.2011

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
P. Prathap Reddy	1358500
P. Prathap Reddy (HUF)	45000
P. Prathap Reddy	7009480
P.V. Lakshmi	75000
Deepthi. P	25000
Divya Priyanka. P	40000
P. Padmaja	35000
P. Ramesh Reddy	60000
P. Venugopal Reddy	30000
Chandana P	35000
Neelima. P	35000
Niharika. P	50000
Nirupama. P	40000
Samyukta. P	40000
P.R. Investments Limited, Hyderabad	4460010
N. Radha Krishna Reddy,	210
Arunachala Investments Limited (formerly known as Sujith investments and Properties Limited), India	2500
B. Ramanarasaiah	100
Anubhav Gupta	1000
Dalip Kumar Gupta	1000
Sudhir Kumar Gupta	1000
Anil Kumar Gupta	1000
Shankuntla Gupta	1000
Sheela Devi	1100
Rajeev Gupta	1000
Vijay Gupta	1000
Sanjeev Kumar	1900
Venkata Surya Narasimha	300
S.Rajan	100
P.L.N. Srinivas	100
Usha Sobhan Kumar	200
Sunil Chandra Reddy	2500
Priti. P	6000
Prabhakar Reddy. R	5000
P. Supriya	15000
Total	13380000

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	33.35
Directors or relatives of Directors	66.65
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of wide range of Cement like Ordinary Portland Cement, Portland Pozzolana Cement, Portland Slag Cement, etc.

Products :

Description of product or services	ITC number of product
CEMENT	10110
POWER	1011090

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Bank of India, Khairatabad Branch, Hyderabad - 500004, Andhra Pradesh, India

• State Bank of India, Corporate Accounts Group Branch - 13039,, 'Ozone', 2nd Floor, 6-3-669, Punjagutta, Main Road, Hyderabad - 500082, Andhra Pradesh, India

• IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

• Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India

• Syndicate Bank - Corporate Finance Branch, 6-3-666, 1st Floor, Lumbini Towers, Opposite Nims , Punjagutta, Hyderabad - 500082, Andhra Pradesh, India

• Standard Chartered Bank, 6-3-1090, Raj Bhavan Road, Somajiguda,, Hyderabad - 500082, Andhra Pradesh, India

• ICICI Bank Limited, ICICI Bank Towers, Bandra (East), Mumbai - 400051, Maharashtra, India

• Punjab National Bank, Mid Corporate Branch, 8-2-672, Sufi Chambers, Road No. 1, Banjara Hills, Hyderabad - 500034, Andhra Pradesh, India.

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans financial institutions	5635.847	4278.426
Working capital loans banks	761.888	495.962
Total	6397.735	4774.388

Banking Relations :	--
Financial Institutions :	L and T Infrastructure Finance Company Limited, Mount Poonamallee Road, Manapakkam, Chennai - 600089, Tamilnadu, India
Auditors :
Name :	Ayyadevara and Company Chartered Accountants
Address :	1-2-386/A/1, Gagan Mahal, Hyderabad – 500029, Andhra Pradesh, India
PAN No.:	ABLPA5021F
Memberships :
Associated firms / companies (including companies / firms controlled by key management personnel / relatives who are substantially interested) : (As on 31.03.2011)	Pioneer Builders Limited Pioneer Builders Penna Limestone Quarries Limited Parasakthi Cement Industries Limited Sriba INDUSTRIES Limited Penna Electricity Limited Pioneer Infrastructure Holding Limited Pioneer Power Corporation Limited Pioneer Genco Limited Om Power Corporation Limited Krishna Hydro Energy Limited Anrak Aluminium Limited Anrak Seaports Limited Pioneer Cement INDUSTRIES LLC, UAE Pioneer Holiday Resorts Limited Pioneer Estates E Vision Sofetech P.R. Investments Limited Penna Tandur Cement Company Limited Penna Global Investments FZ-LLC

CAPITAL STRUCTURE

As on 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
75000000	Equity Shares	Rs.10/- each	Rs.750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13380000	Equity Shares	Rs.10/- each	Rs.133.800 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		133.800	133.800
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		7824.437	6824.711
4] (Accumulated Losses)		0.000	0.000
NETWORTH		7958.237	6958.511
LOAN FUNDS
1] Secured Loans		6397.735	4774.388
2] Unsecured Loans		2485.151	3548.620
TOTAL BORROWING		8882.886	8323.008
DEFERRED TAX LIABILITIES		1393.672	1248.747
TOTAL		18234.795	16530.266
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11155.299	11491.394
Capital work-in-progress		3179.552	1877.972
INVESTMENT		3118.231	2974.632
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	951.026	667.903
	Sundry Debtors	749.979	361.204
	Cash & Bank Balances	295.056	177.115
	Other Current Assets	0.000	0.000
	Loans & Advances	1537.309	1336.453
Total Current Assets		3533.370	2542.675
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	971.446	1066.030
	Other Current Liabilities	1711.505	1224.958
	Provisions	68.706	65.419
Total Current Liabilities		2751.657	2356.407
Net Current Assets		781.713	186.268
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		18234.795	16530.266

NOTE: BALANCE SHEET FOR THE YEAR 2012 IS NOT AVAILABLE, ONLY PROFIT AND LOSS ACCOUNT IS AVAILABLE.

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	17316.200	13767.400	15156.821
		Other Income	1417.500	30.400	48.021
		TOTAL (A)	18733.700	13797.800	15204.842
Less	EXPENSES
		Cost of materials consumed	1531.700	1457.500
		Purchases of stock-in-trade	0.000	9.600
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(82.800)	(178.400)	12264.919
		Employee benefit expense	457.600	397.100
		Other expenses	11649.000	9268.200
		TOTAL (B)	13555.500	10954.000	12264.919
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5178.200	2843.800	2939.923
Less	FINANCIAL EXPENSES (D)		731.600	679.200	269.057
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4446.600	2164.600	2670.866
Less/ Add	DEPRECIATION/ AMORTISATION (F)		664.800	628.300	401.351
	PROFIT BEFORE TAX (E-F) (G)		3781.800	1536.300	2269.515
Less	TAX (H)		1022.500	497.600	784.514
	PROFIT AFTER TAX (G-H) (I)		2759.300	1038.700	1485.001
	Earnings Per Share (Rs.)		206.00	78.00	11.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	14.73	7.53	9.77
Net Profit Margin (PBT/Sales)	(%)	21.84	11.16	14.97
Return on Total Assets (PBT/Total Assets}	(%)	NA	10.46	16.17
Return on Investment (ROI) (PBT/Networth)		NA	0.19	0.33
Debt Equity Ratio (Total Debt /Networth)		NA	1.12	1.20
Current Ratio (Current Asset/Current Liability)		NA	1.28	1.08

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	No
10]	Designation of contact person	No
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	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

REVIEW OF OPERATIONS: (As on 31.03.2011)

The Company could maintain the growth trend and perform to this satisfactory level. It has recorded above turnover during the year recording a growth of 13.20%.

The Company has achieved the production of 39,99,362 MTs of Cement during the year as against the production of 40,88,766 MTs during the previous year. The 77MW power plant at Ganeshpahad has generated 29,41,11,264 units during the FY 2010-11 as against 1,16,17,578 units during the previous year FY 2009-10.

CEMENT SECTOR OUTLOOK: (As on 31.03.2011)

The Indian economy has continued to recover in the year. Rising domestic demand, higher farm output in the wake of better than normal monsoon, increased disposable income in the hands of common man, surge in foreign inflows and other positive signs of economy enabled the economy to achieve 8.6% growth in 2010-11 as against 8.0% recorded in 2009-10. Although Infrastructure sector relatively didn't do as well, the index for six core industries comprising crude oil, Petroleum refinery products, coal, electricity, cement and finished carbon steel grew by 5.7% during 2010-11, as compared to 5.4% achieved in 2009-10. High inflation resulting in RBI to hike interest rates remains a concern for attaining sustainable economic growth.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks	0.000	1000.000
Deferred sales tax loan	2485.151	2548.620
Total	2485.151	3548.620

DISCLOSURE OF CONTINGENT LIABILITIES

Rs. In Millions

Particular	31.03.2011	31.03.2010
Details of indemnity for guarantees given by bank	150.916	105.461
Details of guarantee given for letter of credit	253.370	21.281
Details of other guarantees given	54.494	368.628

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U26942AP1991PLC013359
Name of the company	PENNA CEMENT INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	H. No. 8-2-268/A/1/S and S1, Plot No. 705, Road No. 3, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India cs@pennacement.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge Others (Receivables etc)
Particular of charge holder	L and T Infrastructure Finance Company Limited, Mount Poonamallee Road, Manapakkam, Chennai - 600089, Tamilnadu, India harish.shetty@ltinfra.com
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	24.01.2013
Amount secured by the charge	Rs.2000.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 13% P.A. Terms of Repayment Payable In 62 Monthly Instalments.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Second pari passu charge on entire current assets of the company more particularly described in of deed of hypothecation January 24, 2013. First pari passu charge on entire movable assets of the company including movable fixed assets of the borrower described in part 2 of deed of hypothecation January 24, 2013.

FIXED ASSETS

• Building
• Factory
• Plant machinery
• Office equipments
• Computer
• Furniture fixtures
• 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 exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.92
UK Pound	1	Rs.84.44
Euro	1	Rs.71.32

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	7
--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		55

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.