MIRA INFORM REPORT

Report Date :

16.09.2013

IDENTIFICATION DETAILS

Name :	NED ENERGY LIMITED
Registered Office :	213, Sabri Kachgam, Daman and Diu – 396210
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.12.1998
Com. Reg. No.:	56-004665
Capital Investment / Paid-up Capital :	Rs. 65.806 Millions
CIN No.: [Company Identification No.]	U31909DD1998PLC004665
PAN No.: [Permanent Account No.]	AAACN8053B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Seller of Lead Acid Storage Batteries
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

A (58)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 2800000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of “Time Technoplast” a well known manufacturer of polymer products. It is an established company having good track record. The profitability of the company has seen a drastic dip. However, the financial and liquidity position appears to be healthy. Promoters and directors are reported as well experienced and respectable businessmen. Trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments. In view of reputed parent company the subject can be considered good for business dealings.

NOTES :

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

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = A-
Rating Explanation	Adequate degree of safety and low credit risk
Date	31.03.2012

Rating Agency Name	CRISIL
Rating	Short Term Rating = A-
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	31.03.2012

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

Management Non-Cooperative (91-8418-223510)

LOCATIONS

Registered Office :	213, Sabri Kachgam, Daman and Diu - 396210, India
Tel. No.:	91-22-28570302
Fax No.:	91-22-28575672
E-Mail :	bv@timetechnoplast.com
Website :	www.nedenergy.in
Factory :	Survey No. 823 and 827, Medchal(V and M) Ranga Reddy District, Medchal - Sameerpet Road, Andhra Pradesh, India
Tel. No.:	91-8418-223510/223393
Fax No.:	91-8418-224542/223393
Branch Office 1 :	6-3-1109/1, Navabharat Chambers, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India
Branch Office 2 :	Located at: Delhi Lucknow Kolkata Panoli

DIRECTORS

As on 15.09.2012

Name :

Mr. Anil Paraslal Jain

Designation :

Director

Address :

311I312, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

03.01.1955

Date of Appointment :

29.09.207

DIN No.:

00183364

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	L27203DD1989PLC003240	TIME TECHNOPLAST LIMITED	Managing director	01-12-10	17-10-91	-	Active	NO
2	U51900MH1991PTC063915	TIME EXPORTS PRIVATE LIMITED	Director	06-11-91	06-11-91	-	Active	NO
3	U51900MH1989PTC052612	VISHWALAXMI TRADING AND FINANCE PRIVATE LIMITED	Director	25-03-95	25-03-95	-	Active	NO
4	U51900MH1999PTC119909	AVION EXIM PRIVATE LIMITED	Director	18-05-99	18-05-99	-	Active	NO
5	U01122DD2003PTC003276	TIME MAUSER INDUSTRIES PRIVATE LIMITED	Nominee director	24-02-04	24-02-04	-	Active	NO
6	U67120MH1995PTC089667	TIME SECURITIES SERVICES PRIVATE LIMITED	Director	15-05-06	15-05-06	-	Active	NO
7	U31909DD1998PLC004665	NED ENERGY LIMITED	Director	29-09-07	29-09-07	-	Active	NO
8	U74999MH2008PTC178615	GENEX SCIENCE AND TECHNOLOGIES PRIVATE LIMITED	Director	07-02-08	07-02-08	-	Active	NO
9	U28992MH1999PLC119981	ACE MOULDINGS LIMITED	Director	27-09-08	09-05-08	-	Active	NO
10	U74999MH1998PTC113840	BHARAT INFRASTRUCTURES PRIVATE LIMITED	Director	27-09-08	01-08-08	-	Active	NO
11	U25200DD2009PLC004671	SCHOELLER ARCA TIME MATERIALS HANDLING SOLUTIONS LIMITED	Nominee director	13-05-09	13-05-09	-	Active	NO
12	U74900DD2013PLC004729	VFM LOGISUPPORT SERVICES LIMITED	Director	27-08-13	27-08-13	-	Active	NO

Name :

Mr. Bharat Kumar Ratanlal Vageria

Designation :

Director

Address :

101i102, Nandalaya Khandalwal Complex, Evershine Nagar, Malad (West), Mumbai, Maharashtra, India

Date of Birth/Age :

10.12.1959

Date of Appointment :

29.09.2007

DIN No.:

00183629

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	U51900MH1989PTC052612	VISHWALAXMI TRADING AND FINANCE PRIVATE LIMITED	Director	16-11-89	16-11-89	-	Active	NO
2	L27203DD1989PLC003240	TIME TECHNOPLAST LIMITED	Whole-time director	01-12-10	21-03-90	-	Active	NO
3	U51900MH1991PTC063915	TIME EXPORTS PRIVATE LIMITED	Director	06-11-91	06-11-91	-	Active	NO
4	U51900MH1999PTC119909	AVION EXIM PRIVATE LIMITED	Director	18-05-99	18-05-99	-	Active	NO
5	U67120MH1995PTC089667	TIME SECURITIES SERVICES PRIVATE LIMITED	Director	15-05-06	15-05-06	-	Active	NO
6	U31909DD1998PLC004665	NED ENERGY LIMITED	Director	29-09-07	29-09-07	-	Active	NO
7	U51909MH2002PLC134507	LOTUS TRADING CORP LIMITED	Additional director	04-03-08	04-03-08	-	Amalgamated	NO
8	U28992MH1999PLC119981	ACE MOULDINGS LIMITED	Director	27-09-08	09-05-08	-	Active	NO
9	U74999MH1998PTC113840	BHARAT INFRASTRUCTURES PRIVATE LIMITED	Director	27-09-08	01-08-08	-	Active	NO
10	U25200DD2009PLC004671	SCHOELLER ARCA TIME MATERIALS HANDLING SOLUTIONS LIMITED	Nominee director	13-05-09	13-05-09	-	Active	NO
11	U31402KA1992PTC013026	POWER BUILD BATTERIES PRIVATE LIMITED	Director	27-08-10	27-08-10	-	Active	NO
12	U74900DD2013PLC004729	VFM LOGISUPPORT SERVICES LIMITED	Director	27-08-13	27-08-13	-	Active	NO

Name :

Mr. Shaik Abdul Gaffoor

Designation :

Whole-Time Director

Address :

G-5, Kamakshi Residency, Plot No 36, IDPL Colony, Balanagar, Hyderabad – 500037, Andhra Pradesh, India

Date of Birth/Age :

01.01.1961

Date of Appointment :

29.09.2007

DIN No.:

01479844

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	U31909DD1998PLC004665	NED ENERGY LIMITED	Whole-time director	29-09-07	27-04-07	-	Active	NO
2	U51909MH2002PLC134507	LOTUS TRADING CORP LIMITED	Additional director	04-03-08	04-03-08	-	Amalgamated	NO
3	U40109AP2008PTC061591	ROSHAN ENERGY TECHNOLOGIES PRIVATE LIMITED	Director	27-10-08	27-10-08	-	Active	NO
4	U31402KA1992PTC013026	POWER BUILD BATTERIES PRIVATE LIMITED	Director	27-08-10	27-08-10	-	Active	NO

Name :

Mr. Gautam Kumar Nedurumalli

Designation :

Director

Address :

Plot No 3031, Road No 25, Jubllee Hills, Hyderabad – 500082, Andhra Pradesh, India

Date of Birth/Age :

27.10.1968

Date of Appointment :

29.09.2007

DIN No.:

00098735

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	U13209AP1990PLC011388	ACROPOLIS GRANITES LIMITED	Director	15-06-90	15-06-90	-	Active	NO
2	U05005AP1993PTC016262	SWARNAMUKHI AQUA FARMS PRIVATE LIMITED	Managing director	07-09-93	07-09-93	-	Active	NO
3	U31909DD1998PLC004665	NED ENERGY LIMITED	Director	29-09-07	11-12-98	-	Active	NO
4	U24239AP2004PTC044719	NED PHARMA PRIVATE LIMITED	Director	20-04-05	20-04-05	16-07-07	Strike off	NO
5	U40109AP2009PLC064035	SWARNAMUKHI THERMAL POWER PROJECTS LIMITED	Director	17-06-09	17-06-09	-	Active	NO

Name :

Mr. Gyanesh Narayan Mathur

Designation :

Director

Address :

117-H-11, N Block, Kakadeo Kda Colony, Kanpur – 208025, Uttar Pradesh, India

Date of Birth/Age :

15.11.1944

Date of Appointment :

29.09.2007

DIN No.:

00525324

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	L17122UP1988PLC009985	SHRI LAKSHMI COTSYN LIMITED	Director	18-04-05	18-04-05	-	Active	NO
2	L25209DD1992PLC004656	TPL PLASTECH LIMITED	Nominee director	14-07-06	14-07-06	-	Active	NO
3	L27201UP1971PLC003408	EMA INDIA LIMITED	Director	22-11-06	22-11-06	-	Active	NO
4	L25209UP1971PLC003444	KANPUR PLASTIPACK LIMITED	Director	31-07-07	11-12-06	-	Active	NO
5	U31909DD1998PLC004665	NED ENERGY LIMITED	Director	29-09-07	29-09-07	-	Active	NO
6	U74900UP2008PLC036160	SHRI LAKSHMI NANO TECHNOLOGIES LIMITED	Director	29-09-09	16-10-08	-	Active	NO

Name :

Mr. Sanjaya Shrikrishna Kulkarni

Designation :

Director

Address :

Ai12, Technocrat Co-Operative Housing Society, Near Twin Tower, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

30.05.1949

Date of Appointment :

29.09.2007

DIN No.:

00102575

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	U01222AP1999PTC031203	SL POULTRY PRIVATE LIMITED	Director	25-02-99	25-02-99	-	Active	NO
2	U74140MH1999PTC120805	INDIAN DIRECT EQUITY ADVISORS PRIVATE LIMITED	Director	14-07-99	14-07-99	-	Active	NO
3	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Nominee director	26-03-01	26-03-01	11-01-08	Active	NO
4	U72200MH1990PLC056987	UTV SOFTWARE COMMUNICATIONS LIMITED	Director	25-02-02	25-02-02	16-03-12	Active	NO
5	U99999MH1995PTC095333	PRO CAPITAL ADVISORS PRIVATE LIMITED	Director	11-12-02	11-12-02	-	Active	NO
6	L27203DD1989PLC003240	TIME TECHNOPLAST LIMITED	Director	25-03-03	25-03-03	-	Active	NO
7	U65991MH2004PTC149164	EUREKA CAPITAL MANAGEMENT PRIVATE LIMITED	Director	04-11-04	04-11-04	27-12-10	Active	NO
8	L15142AP1986PLC006957	AGRO TECH FOODS LIMITED	Director	11-01-05	11-01-05	-	Active	NO
9	L25209DD1992PLC004656	TPL PLASTECH LIMITED	Director	14-07-06	14-07-06	-	Active	NO
10	U31909DD1998PLC004665	NED ENERGY LIMITED	Director	29-09-07	29-09-07	-	Active	NO
11	U32300MH2007PLC171337	UTV GLOBAL BROADCASTING LIMITED	Director	27-07-09	06-08-08	16-03-12	Active	NO
12	L80101MH2006PLC163028	TREE HOUSE EDUCATION AND ACCESSORIES LIMITED	Director	30-09-09	13-08-08	-	Active	NO
13	U80904DL2009PTC194664	IPROF LEARNING SOLUTIONS INDIA PRIVATE LIMITED	Director	31-03-11	29-09-10	-	Active	NO
14	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	Additional director	15-05-12	15-05-12	-	Active	NO
15	U34200MH1996PTC103764	SUPREME-TREVES PRIVATE LIMITED	Director	29-09-12	18-07-12	-	Active	NO

Name :

Mr. Ashok Kumar Shukla

Designation :

Director

Address :

924, 7^th Cross, Gokula I Stage, I Phase, Mathikere, Bangalore – 560054, Karnataka, India

Date of Birth/Age :

03.02.1947

Date of Appointment :

03.04.2009

DIN No.:

02682124

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 15.09.2012

Names of Shareholders	No. of Shares
Time Technoplast Limited, India	4671858
Anil Jain	100
Bharat Vageria	100
Raghupathy Thyagarajan	100
Naveen Jain	100
N. Gautam	1515900
S.A. Gaffoor	195100
Vishwalaxmi Trading And Finance Private Limited, India	197387
Total	6580645

As on 15.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	74.00
Directors or relatives of Directors	26.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Seller of Lead Acid Storage Batteries

Products :

ITC Code No.	Product Description
85072	Valve Regulated Lead Acid Batteries

PRODUCTION STATUS

Particulars	Unit	31.03.2011
Installed Capacity	Sets	20000
Actual Production	Sets	14494

Note: The installed capacity represents the capacity as at 31st March'20ll The Capacities are as estimated and certified by the management

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

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

• State Bank of India, Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
-ECB Loan from Barclays Bank PLC	172.130	0.000
-Rupee Term Loan from YES bank	32.375	75.541
Short-term borrowings
Working capital loans from banks	269.395	124.198
Total	473.900	199.739
a) ECB loan from Barclays Bank PLC The Company's fixed assets at Hyderabad plant, both movable and immovable, were placed as security by way of first charge for the ECB loan obtained from Barclays Bank PLC b) Rupee Term loan from YES Bank The Company's fixed assets at Panoli plant, both movable and immovable, were placed as security by way of first charge for the rupee term loan obtained from YES Bank.

Banking Relations :	---
Auditors :
Name :	Shah and Taparia Chartered Accountants
Address :	12, Navjeevan Wadi, Dhobi Talao, Mumbai - 400 002, Maharashtra, India
PAN No.:	AAOFS0663D
Holding Company :	Time Technoplast Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Team Lease Services P Ltd GSR Constructions Technika Corporation FZE
Subsidiaries :	Gulf Powerbeat WLL Power Build Batteries Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
22500000	Equity Shares	Rs.10/- each	Rs.225.000 Millions
10000000	Preference Shares	Rs.10/- each	Rs.100.000 Millions
	Total		Rs.325.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6580645	Equity Shares	Rs.10/- each	Rs.65.806 Millions

Disclosure of shareholding more than five per cent in company

Name of shareholder	Number of shares held in company	Percentage of shareholding in company
Time Technoplast Limited	4672258	71.00%
N. Gautam	1515900	23.00%

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	65.806	65.806
(b) Reserves & Surplus	650.481	620.078
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	716.287	685.884
(3) Non-Current Liabilities
(a) long-term borrowings	287.295	160.730
(b) Deferred tax liabilities (Net)	38.375	36.473
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	325.670	197.203
(4) Current Liabilities
(a) Short term borrowings	269.395	124.198
(b) Trade payables	204.760	340.912
(c) Other current liabilities	61.889	59.301
(d) Short-term provisions	3.052	88.215
Total Current Liabilities (4)	539.096	612.626
TOTAL	1581.053	1495.713
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	340.690	362.483
(ii) Intangible Assets	2.706	2.596
(iii) Capital work-in-progress	74.761	35.601
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	51.601	117.174
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	151.355	9.163
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	621.113	527.017
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	467.181	417.285
(c) Trade receivables	315.467	413.636
(d) Cash and cash equivalents	27.816	48.273
(e) Short-term loans and advances	143.027	79.223
(f) Other current assets	6.449	10.279
Total Current Assets	959.940	968.696
TOTAL	1581.053	1495.713

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		65.806
2] Share Application Money		0.000
3] Reserves & Surplus		577.356
4] (Accumulated Losses)		0.000
NETWORTH		643.162
LOAN FUNDS
1] Secured Loans		270.946
2] Unsecured Loans		82.790
TOTAL BORROWING		353.736
DEFERRED TAX LIABILITIES		28.772
TOTAL		1025.670
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		320.116
Capital work-in-progress		36.883
INVESTMENT		65.579
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	443.633
	Sundry Debtors	313.698
	Cash & Bank Balances	79.248
	Other Current Assets	0.000
	Loans & Advances	181.084
Total Current Assets		1017.663
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	317.438
	Other Current Liabilities	17.964
	Provisions	79.169
Total Current Liabilities		414.571
Net Current Assets		603.092
MISCELLANEOUS EXPENSES		0.000
TOTAL		1025.670

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1175.277	1611.494	1723.605
		Other Income	0.393	0.350	1.219
		TOTAL (A)	1175.670	1611.844	1724.824
Less	EXPENSES
		Cost of materials consumed	781.395	1150.616
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(40.430)	(101.580)	1400.342
		Employee benefit expense	49.221	55.268
		Other expenses	242.763	254.501
		Prior period	(0.433)	0.070
		TOTAL (B)	1032.516	1358.875	1400.342
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		143.154	252.969	324.482
Less	FINANCIAL EXPENSES (D)		56.183	47.996	29.495
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		86.971	204.973	294.987
Less/ Add	DEPRECIATION/ AMORTISATION (F)		27.900	25.814	22.733
	PROFIT BEFORE TAX (E-F) (G)		59.071	179.159	272.254
Less	TAX (H)		16.903	59.700	94.800
	PROFIT AFTER TAX (G-H) (I)		42.168	119.459	177.454
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		256.760	234.037	161.573
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	20.000	28.000
		Dividend (including Tax on Dividend)	NA	76.736	76.990
	BALANCE CARRIED TO THE B/S		NA	256.760	234.037
	EARNINGS IN FOREIGN CURRENCY		39.669	10.831	7.288
	Earnings Per Share (Rs.)		6.41	18.14	26.97

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.59	7.41	10.29
Net Profit Margin (PBT/Sales)	(%)	5.03	11.12	15.80
Return on Total Assets (PBT/Total Assets}	(%)	4.06	13.34	20.35
Return on Investment (ROI) (PBT/Networth)		0.08	0.26	0.42
Debt Equity Ratio (Total Debt /Networth)		0.78	0.42	0.55
Current Ratio (Current Asset/Current Liability)		1.78	1.58	2.45

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	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

PERFORMANCE:

The company has achieved Gross sales of Rs.1289.905 Millions during the year as against Rs. 1770.462 Millions in the previous year.

Profit after tax for the year stood at Rs. 42.168 Millions as against Rs. 119.459 Millions in the previous year.

The under performance in the current year is due to significant slow down in network expansion and upgradation plans in Telecom sector. Lack of growth in 3G businesses and delay in roll out of Broad band wireless Access (BWA) networks also affected the growth in Telecom business.

During the year, the Company introduced “MAX PERF” Advanced Hybrid VRLA Batteries for meeting high operating temperatures in outdoor applications. The Company has received encouraging response from Customers for the above products.

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Deferred payment Liabilities-Interest free sales tax deferment	82.790	82.790
Other loans and advances	0.000	2.399
Total	82.790	85.189
Interest free sales tax deferment Deferred payment liability represents 14 years interest free sales tax deferment loan received from Government of Andhra Pradesh. Repayment Commences from March 31,2015 based on the deferment availed in the respective year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10447801	03/09/2013	140,000,000.00	AXIS BANK LIMITED	6-3-879-B, GROUND & FIRST FLOOR, BEGUMPET, GREEN  LANDS ROAD, HYDERABAD, ANDHRA PRADESH - 500016, INDIA	B84398353
2	10196974	17/07/2012 *	140,000,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	B44222321
3	10175157	31/08/2009	822,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA -  400018, INDIA	A69438323
4	10173311	17/07/2012 *	172,130,000.00	BARCLAYS BANK PLC	601/603, CEEJAY HOUSE, SHIVSAGAR ESTATE, DR. ANNIE BEASANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B45096005
5	10112999	05/07/2013 *	470,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA -  400018, INDIA	B81155541
6	90124202	13/08/2012 *	402,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN ROAD, SOMA  JIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA	B56365984

* Date of charge modification

FIXED ASSETS

• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] 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.63.79
UK Pound	1	Rs.100.70
Euro	1	Rs.84.67

INFORMATION DETAILS

Information Gathered by :	NYN
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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		58

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

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.