MIRA INFORM REPORT

Report Date :

16.05.2013

IDENTIFICATION DETAILS

Name :	HERCULES HOISTS LIMITED
Registered Office :	Bajaj Bhawan, 2nd Floor, 226, Jamnalal Bajaj Marg, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	15.06.1962
Com. Reg. No.:	11-012385
Capital Investment / Paid-up Capital :	Rs.16.000 Millions
CIN No.: [Company Identification No.]	L45400MH1962PLC012385
TAN No.: [Tax Deduction & Collection Account No.]	MUMH07341F
PAN No.: [Permanent Account No.]	AAACH2706d
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer, Exporter and Importer of Material Handing Equipments.
No. of Employees :	113 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 5500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having a good track record. Financially company seems to be strong. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual trade terms and conditions.

NOTES :

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

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. Fernandes
Designation :	Accounts Departments
Contact No.:	91-22-22023626
Date :	16.05.2013

LOCATIONS

Registered Office :	Bajaj Bhawan, 2nd Floor, 226, Jamnalal Bajaj Marg, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22023626
Fax No.:	91-22-22025160
E-Mail :	indef@indef.com cjp@indeb.com ksm@indef.com
Website :	www.indef.com
Location :	Owned
Head Office/ Head Office/ Factory 1 :	Survey Nos. 43/2B, 43/5, 45/2, Kharpada-Savroli Road, At Village Dhamani, Taluka-Khalapur, Khopoli, District Raigad - 410202, Maharashtra, India
Tel. No.:	91-2192-274601/ 274136 / 274087
Fax No.:	91-2192-274125/ 325
Factory 2 :	110, Minerva Industrial Estate, Mulund (West), Mumbai - 40080, Maharashtra, India
Windfarm :	(i) Windmill Nos. K-41 and 42 - Village Khori-Titane, Taluka, Sakri, Dhule District, Maharashtra, India (ii) Windmill No. K-265 - Village Amkhel, Taluka Sakri, Dhule District, Maharashtra, India (iii) Windmill No. J-06 - Village Phophade, Taluka Sakri, Dhule District, Maharashtra, India

DIRECTORS

As on: 31.03.2012

Name :	Mr. Shekhar Bajaj
Designation :	Chairman
Name :	Mr. Klaus Carl Uebel
Designation :	Director
Name :	Mr. Naresh Chandra
Designation :	Executive Director
Name :	Ms. Vinaya L Mehrotra
Designation :	Director
Name :	Mr. Kishorilal F. Jhunjhunwala
Designation :	Director
Name :	Mr. Mukul M. Upadhyaya
Designation :	Director
Name :	Mr. Gaurav V. Nevatia
Designation :	Director
Name :	Mr. Tushar P. Shah
Designation :	Director
Name :	Mr. Shailesh V. Haribhakti
Designation :	(Alternate Director to Mr. K. C. Uebel)
Name :	Mr. H. A. Nevatia
Designation :	Whole Time Director

KEY EXECUTIVES

Name :	Mr. Fernandes
Designation :	Accounts Departments
Name :	Mr. M. S. Saigal
Designation :	President and Chief Executive Officer
Date of Birth/Age :	69 Years
Qualification :	A.M.I.E., M.B.M.
Experience :	49 Years

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 31.03.2013

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	8342730	26.07
Bodies Corporate	13906000	43.46
Sub Total	22248730	69.53
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	22248730	69.53
(B) Public Shareholding
(1) Institutions
Financial Institutions / Banks	11920	0.04
Sub Total	11920	0.04
(2) Non-Institutions
Bodies Corporate	534893	1.67
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	4217156	13.18
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	2374149	7.42
Any Others (Specify)	2613152	8.17
Clearing Members	40724	0.13
NRIs/OCBs	1645694	5.14
Trusts	33764	0.11
Directors & their Relatives & Friends	892970	2.79
Sub Total	9739350	30.44
Total Public shareholding (B)	9751270	30.47
Total (A)+(B)	32000000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	32000000	0.00

Shareholding belonging to the category "Promoter and Promoter Group"

Sl. No.	Name of the Shareholder	No. of Shares held	As a % of total
		1664000	5.20
2	Kiran Bajaj	580000	1.81
3	Kumud Bajaj	914000	2.86
4	Madhur Bajaj	440000	1.38
5	Niraj Bajaj	928000	2.90
6	Niraj Bajaj Trust	552000	1.73
7	Rahulkumar Bajaj	4640	0.01
8	Rahulkumar Bajaj HUF	10000	0.03
9	Sanjivnayan Bajaj	2400	0.01
10	Shekhar Bajaj	749005	2.34
11	Shekhar Bajaj HUF	499200	1.56
12	Sunaina Kejriwal	1990480	6.22
13	Bachhraj Factories Private Limited	165280	0.52
14	Bajaj Holdings and Investment Limited	6251040	19.53
15	Bajaj Sevashram Private Limited	1868000	5.84
16	Jamnalal Sons Private Limited	5221680	16.32
17	Shekhar Bajaj	2415	0.01
18	Shekhar Bajaj	2654	0.01
19	Shekhar Bajaj	1860	0.01
20	Shekhar Bajaj	2076	0.01
21	Shekhar Holdings Private Limited	400000	1.25
	Total	22248730	69.53

Shareholding belonging to the category "Public" and holding more than 1% of the Total No. of Shares

Sl. No.	Name of the Shareholder	No. of Shares held	Shares as % of Total No. of Shares
1
2	Pramodkumar S Nevatia	776480	2.43
3	Kishorilal F Jhunjhunwala	880000	2.75
4	Nirmal P Jhunjhunwala	1194000	3.73
	Heinrich De Fries Gmbh	1600000	5.00
	Total	4450480	13.91

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Material Handing Equipments.

Products :

Product Description	ITC Code
Hoists	842500
Overhead Travelling Cranes	842600
Spare Parts for above products	843100

Exports :

Products :

Finished Goods

Countries :

• UK
• Italy
• Nepal
• Germany
• Kenya
• UAE
• Bangladesh
• Sri Lanka
• Middle East

Imports :

Products :

Raw Materials

Countries :

• Germany
• Japan
• Italy
• Taiwan
• UK

Terms :

Selling :

L/C, Cash and Credit

Purchasing :

L/C, Cash and Credit

PRODUCTION STATUS (As on: 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Material Handling Equipments	Nos.	N.A.	60000	53461
Wind Mill Power	KWH	N.A.	5 MW	5 MW

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

113 (Approximately)

Bankers :

Bank of Maharashtra

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Other Loans and Advances
Working Capital Facilities from Bank	41.227	0.842
Total	41.227	0.842

Notes:

Secured by hypothecation of stock, book debts and secured by collateral security of movable and immovable fixed assets of Company.

Banking Relations :	--
Auditors :
Name :	M. L. Bhuwania and Company Chartered Accountants
Related Parties :	Bajaj Electricals Limited Bajaj Auto Limited Bajaj Finserv Limited Bajaj Holdings and Investment Limited Hind Lamps Limited Hind Musafir Agency Limited Hindustan Housing Company Limited Baroda Industries Private Limited Mukand Limited Bajaj Allianz General Insurance Company Limited Bajaj International Private Limited

CAPITAL STRUCTURE

As on: 17.07.2012

Authorised Capital : Rs.40.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.32.000 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Re.1/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16000000	Equity Shares	Re.1/- each	Rs.16.000 Millions

Note No 1.1: The reconcilation of the number of shares outstanding at the beginning and at the end of reporting period 31-03-2012:

(Rs. In Millions)

Particulars	As at 31st March, 2012
Number of shares at the beginning	16.000
Add: Shares issued during the year	--
Less : Shares bought back (if any)	16.000

Terms/rights attached to equity shares

(A) The company has only one class of equity shares having a par value of Re. 1 per share. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

(B) The amount of per share dividend of Rs. 3.50 (Previous Year Rs. 3.00) has been proposed to be distributied to equity shareholders for the year ended 31.03.2012. The total amount of dividend shall be Rs. 65.085 Millions (Including Dividend Distribution Tax Rs. 9.085 Millions).

(C) In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Aggregate number of bonus shares issued and sub-division of shares during the period of five years immediately preceding the reporting date:

(A) In the Financial Year 2006-07, 800000 Equity Shares of Rs.10 each (8000000 Equity Shares of Re.1 each post sub-division) were alloted as fully paid-up Bonus Shares by Capitalisation of Reserves.

(B) In the Financial Year 2008-09, 1600000 Equity Shares of Rs.10 each fully paid were sub-divided into 16000000 Equity Shares of Re.1 each fully paid up.

The details of shareholders holding more than 5% shares in the company:

Name of the shareholder	No. of shares held	% held as at 31st March, 2012
Bajaj Holdings and Investment Limited	3125520	19.53
Jamnalal Sons Private Limited	2610840	16.32
Sunaina Kejriwal	995240	6.22
Bajaj Sevashram Private Limited	934000	5.84
Anant Bajaj	832000	5.20

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		16.000	16.000	16.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1362.757	1118.676	875.366
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1378.757	1134.676	891.366
LOAN FUNDS
1] Secured Loans		41.227	0.842	39.778
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		41.227	0.842	39.778
DEFERRED TAX LIABILITIES		40.817	36.660	50.479
TOTAL		1460.801	1172.178	981.623
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		292.057	329.067	329.251
Capital work-in-progress		5.627	7.127	0.000
INVESTMENT		225.927	245.727	114.704
DEFERREX TAX ASSETS		0.000	0.000	16.886
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	209.682	235.509	207.306
	Sundry Debtors	221.211	214.190	134.788
	Cash & Bank Balances	250.981	176.315	165.909
	Other Current Assets	52.641	30.182	24.726
	Loans & Advances	372.230	157.145	156.724
Total Current Assets		1106.745	813.341	689.453
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	73.207	115.492	84.494
	Other Current Liabilities	25.700	42.631	39.448
	Provisions	70.648	64.961	44.729
Total Current Liabilities		169.555	223.084	168.671
Net Current Assets		937.190	590.257	520.782
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1460.801	1172.178	981.623

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1210.014	1193.585	843.996
		Other Income	92.051	48.293	49.795
		TOTAL (A)	1302.065	1241.878	893.791
Less	EXPENSES
		Cost of Materials Consumed	600.592	552.814
		Purchase of Stock - in - Trade	3.325	28.332
		Changes in inventories of Finished Goods, Work-in-Progress and Stock-in-Trade	6.886	(12.392)
		Employee benefit expense	58.439	50.016
		Other Expenses	169.276	162.902
		TOTAL (B)	838.518	781.672	666.517
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		463.547	460.206	227.274
Less	FINANCIAL EXPENSES (D)		0.551	2.429	4.699
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		462.996	457.777	222.575
Less/ Add	DEPRECIATION/ AMORTISATION (F)		20.332	20.265	19.699
	PROFIT BEFORE TAX (E-F) (G)		442.664	437.512	202.876
Less	TAX (H)		133.498	138.416	58.964
	PROFIT AFTER TAX (G-H) (I)		309.166	299.096	143.912
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		15.000	15.000	15.000
Less	APPROPRIATIONS
		Transfer to General Reserve	244.082	243.309	106.598
		Proposed Dividend	56.000	48.000	32.000
		Tax on Dividend	9.084	7.787	5.314
	BALANCE CARRIED TO THE B/S		15.000	15.000	15.000
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	12.466	9.096	6.967
		Freight	0.073	0.000	0.000
		Insurance	0.001	0.000	0.000
	TOTAL EARNINGS		12.540	9.096	6.967
	IMPORTS
		Raw Materials & Components	24.493	20.020	7.626
	TOTAL IMPORTS		24.493	20.020	7.626
	Earnings Per Share (Rs.)		19.32	18.70	10.63

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012	31.12.2012
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	281.400	324.700	327.600
Total Expenditure	198.500	217.200	240.700
PBIDT (Excl OI)	83.000	107.500	86.900
Other Income	27.000	38.900	23.700
Operating Profit	109.900	146.400	110.600
Interest	0.000	0.100	0.000
Exceptional Items	0.000	0.000	0.000
PBDT	109.900	146.300	110.600
Depreciation	5.000	5.000	5.100
Profit Before Tax	104.900	141.300	105.500
Tax	31.400	37.100	35.400
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	73.600	104.200	70.100
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	73.600	104.200	70.100

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	23.74	24.08	16.10
Net Profit Margin (PBT/Sales)	(%)	36.58	36.66	24.04
Return on Total Assets (PBT/Total Assets}	(%)	31.65	38.30	42.95
Return on Investment (ROI) (PBT/Networth)		0.32	0.39	0.23
Debt Equity Ratio (Total Debt/Networth)		0.03	0.00	0.04
Current Ratio (Current Asset/Current Liability)		6.53	3.65	4.09

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

(Rs. In Millions)

Particulars	31.03.2012	31.03.2011	31.03.2010
Sundry Creditors
Sundry Creditors For Goods	35.270	62.456
Sundry Creditors For Expenses	37.937	53.036
Total	73.207	115.492	84.494

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	No
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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	No

FINANCIAL RESULTS

The revenue from operations of the Company at Rs.1210.000 Millions are 1.40% higher compared to last year’s revenue from operations of Rs.1193.600 Millions. The net profit of Rs.309.200 Millions is also 3.40% higher, as compared to last year’s net profit of Rs.299.100 Millions. The Company has been able to maintain the sales, inspite of slow-down in new projects/expansion activities on the one hand and increased competition on the other hand. The Directors are hopeful of improved performance in the current year. The company is constantly exploring the possibility of tie-up with foreign firms for improving sales as well as new products/designs.

MANAGEMENT DISCUSSION AND ANALYSIS

Industry Structure and Development

The Company manufactures material handling equipments, such as, Chain Pulley Blocks, Chain and Wire Rope Electric Hoists, Ratchet Lever Hoists, Winches, Roll-out Racks, Light Profile Systems, Pulling and Lifting Machines, H.O.T./E.O.T./Jib Cranes, Floor Operated Stacker Cranes and Stores Stacker Cranes. The Company supplies its products to various industries, such as, iron and steel, cement, oil and gas, chemicals, construction,

material handling equipments’ manufacturers, state electricity boards, power plants, petro chemicals, mining, pharmaceutical, logistics, general engineering industries, turn-key solutions providers, etc., wherever unit loads are moved. The Company is also marketing Shrouded Conductors of AKAPP, Netherlands and Profile Crane Systems of Erikkila, Finland.

The Company has a modern machine shop, assembly lines and testing facilities. Strict quality control is maintained through raw-materials, in line and finished product inspection. The Company is supported by well qualified vendors and ancillary workshops. The Company has ISO-9001 accreditation from RWTUV of Germany since May, 1997 and licence for its product Chain Pulley Blocks from Bureau of Indian Standards. The Company has 4 Windmills of 1.25 M.W. each, installed in District Dhule of Maharashtra.

The Company’s growth greatly depends upon new projects and expansion of existing companies, besides the replacement requirements. Although the government is conscious of the need for speedier development of infrastructure and related projects, various bottle-necks are holding up the push that is needed in this area. The Company hopes that the uncertainties will soon be removed.

Financial Review / Segment wise Performance

The Company has achieved gross revenue of Rs.1210.000 Millions, as against Rs.1193.600 Millions in the previous year. The profit before tax is Rs.442.700 Millions as against Rs.437.500 Millions in the previous year. The net profit after tax stands at Rs.309.200 Millions as against Rs.299.100 Millions in the previous year.

Segment Performance

(Rs. In Millions)

Name of the segment	Segment Revenue for the year 2011-12	Segment Revenue for the year 2010-11
Materials Handling Equipments	1182.438	1171.199
Windmill Segment	27.576	22.386

Business Out-look:

The Indian economy appears to have slightly improved, as compared to the global economy. The Company will be able to maintain its growth in view of its good brand image, wide range of good quality products, quicker delivery and effective marketing.

CONTIGENT LIABILITIES

(Rs. In Millions)

Particular	31.03.2012	31.03.2011
Disputed Income Tax Liability	122.144	115.592
Disputed Sales Tax Liabilty	-	8.753
Disputed Excise Duty Liability	13.385	11.698
Indemnity Bonds issed under Export Promotion Capital Goods (EPCG) Scheme	0.508	0.508
Claims against the company not acknowledged as debts	0.732	0.732
Sales Tax Liabilities related to pending C Form	47.952	-

FIXED ASSETS

Tangibles Assets

• Freehold Land
• Leasehold Land
• Buildings
• Plant and Machinery
• Machine Accessories
• Electrical Installations
• Furniture and Fixtures
• Factory Fixtures
• Jigs and Fixtures
• Dies and Patterns
• Vehicles
• Office Equipments
• Computers

Intangibles Assets

• Computer Software
• Technical Know-How

UNAUDITED FINANCIAL RESULTS FOR QUARTER/ NINE MONTHS ENDED 31st DECEMBER, 2012

(Rs. In Millions)

Sr. No.	Particulars	Quarter Ended		Nine Months Ended
		(Unaudited)	(Unaudited)	(Unaudited)
		31.12.2012	30.09.2012	31.12.2012
1	Income from operations
	(a) Net Sales/Income from Operations (Net of excise duty)	326.996	324.230	932.122
	(b) Other Operating Income	0.635	0.461	1.637
	Total Income from operations (net)	327.631	324.691	933.759
2	Expenditure
	(a) Cost of Materials Consumed	180.074	167.598	485.200
	(b) Purchase of stock-in-trade	0.000	0.974	0.974
	(c) Changes in Inventories of finished goods and work- in-	(6.454)	(8.470)	(15.782)
	(d) Employees benefits expenses	16.272	15.527	50.108
	(e) Depreciation & amortisation expense	5.083	5.038	15.102
	(f) Other Expenses	50.845	41.565	135.881
	Total Expenditure	245.821	222.232	671.484
3	Profit / (Loss) from Operations before Other Income, finance costs and exceptional item (1-2)	81.810	102.459	262.275
4	Other Income	23.718	38.879	89.546
5	Profit / (Loss) from ordinary activites before finance costs and Exceptional items (3+4)	105.528	141.339	351.821
	Interest Expense	0.035	0.061	0.110
7	Profit / (Loss) from ordinary activites after finance costs but before Exceptional items (5-6)	105.493	141.278	351.711
8	Exceptional Items
9	Profit / (Loss) from Ordinary Activities before tax (7 + 8)	105.493	141.278	351.711
10	Tax Expense	35.396	37.124	103.882
11	Net Profit / (Loss) from Ordinary Activities after tax (9-10)	70.097	104.155	247.829
12	Extraordinary Items (net of tax expense)
13	Net Profit / (Loss) for the period (11-12)	70.097	104.155	247.829
14	Paid-up Equity Share Capital (Face Value Rs. 1 each)	32.000	32.000	32.000
15	Reserve excluding Revaluation Reserve as per Balance Sheet
16(1)	Earnings Per Share (Befofre Extraordinary items) (a) Basic (b) Diluted	2.19 2.19	3.25 3.25	7.74 7.74
16(h)	Earnings Per Share (After Extraordinary items) (a) Basic (b) Diluted	2.19 2.19	3.25 3.25	7.74 7.74

	Information for the quarter and year ended 31-03-2012
A	Particulars of shareholding
	Public Shareholding
	- Number of Shares	9751270	9751270	9751270
	- Percentage of Shareholding	30.47%	30.47%	30.47%
2	Promoters and Promoter Group Shareholding
	a) Pledged / Encumbered
	- Number of shares	--	--	--
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	--	--	--
	- Percentage of shares (as a % of the total share capital of the company)	--	--	--
	b) Non - Encumbered
	- Number of shares	22248730	22248730	22248730
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	100.00%	100.00%	100.00%
	- Percentage of shares (as a % of the total share capital of the company)	69.53%	69.53%	69.53%

	Particular	Quarter Ended 31.12.2012
B	INVESTOR COMPLAINTS
	Pending at the beginning of the quarter	Nil
	Received during the quarter	Nil
	Disposed of during the quarter	Nil
	Remaining unresolved at the end of the quarter	Nil

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED, UNDER CLAUSE 41 OF THE LISTING AGREEMENT

(Rs. In Millions)

Sr. No.	Particulars	Quarter Ended		Nine Months Ended
		(Unaudited)	(Unaudited)	(Unaudited)
		31.12.2012	30.09.2012	31.12.2012
1	Segment Revenue (Net Sales and Income)
	(a) Material Handling Equipment	326.276	311.694	905.705
	(b) Windmill Power	1.355	12.997	28.054
	Net sales/Income from Operations	327.631	324.691	933.759
2	Segment Results
	(a) Material Handling Equipment	94.006	99.878	268.747
	(b) Windmill Power	(3.594)	8.083	13.271
	Total	90.412	107.960	282.018
	Interest Expense	0.035	0.061	0.110
	Other Un-allocable Corporate Expenditure net off Unallocable Income	(15.117)	(33.378)	(69.804)
	Total Profit (+)/Loss (-) before Tax and extra ordinary items	105.493	141.278	351.711
3	Capital Employed (Segment Assets Less Liabilities)
	(a) Material Handling Equipment	537.784	515.424	537.784
	(b) Windmill Power	164.701	179.439	164.701
	(c) Unallocated	924.101	861.625	924.101
	Total Capital Employed in the Company	1626.586	1556.489	1626.586

Notes :-

1 The above unaudited results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 7th February, 2013.

2 The result for the quarter and nine months ended have been reviewed by the Statutory Auditors of the Company.

3 Segment Revenue, Result and Capital Employed figures include the respective amounts identifiable to each of the segments. Other allocable expenditure mainly includes expenses incurred on common services.

4 The Company has issued Bonus shares to existing shareholders in the ratio of 1:1, as per the approval of the shareholders in Extra-Ordinary General Meeting held on 3rd July, 2012. Accordingly, Earnings per Share has been restated for all periods reported

5 Previous period figures have been regrouped / rearranged wherever necessary to make them comparable with those of the current period.

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.54.78
UK Pound	1	Rs.83.38
Euro	1	Rs.70.72

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VRN

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	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.