MIRA INFORM REPORT

Report Date :

04.08.2014

IDENTIFICATION DETAILS

Name :	RELIANCE PORTS AND TERMINALS LIMITED
Registered Office :	Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar - 361140, Gujarat
Country :	India
Financials (as on) :	30.06.2013
Date of Incorporation :	14.03.1997
Com. Reg. No.:	04-031906
Capital Investment / Paid-up Capital :	Rs. 3220.000 Millions
CIN No.: [Company Identification No.]	U45102GJ1997PLC031906
PAN No.: [Permanent Account No.]	AABCR3878B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Port and Marine Facilities, Transportation and Logistics, Construction and Engineering, SEZ Co-development and Pipeline Infrastructure Facilities.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Aa (77)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 452600000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of Reliance Group. It is a well-established and reputed company having an excellent track record. The company is incurring from two years however the company receives strong financial and managerial support from its group companies. Net worth of the company is sound. Directors are reported to be well experienced and respectable businessman. Trade relations are reported as fair. Business is active. Payment are reported to be regular and as per commitments. 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 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Bank Facilities – Fund Based – LT – Term Loan : “AAA”
Rating Explanation	Highest degree of safety and carry lowest credit risk.
Date	02.08.2014

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 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-29770000)

LOCATIONS

Registered Office :	Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar - 361140, Gujarat, India
Tel. No.:	91-288-2313641
Fax No.:	Not Available
E-Mail :	geeta.fulwadaya@ril.com rina.padalia@ril.com
Website :	www.ril.com
Corporate Office :	3^rd Floor, Maker Chambers, IV 222, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel No.:	91-22-22785500
Fax No.:	91-22-22785560

DIRECTORS

As on 31.12.2013

Name :

Mr. Raja Kolumum Ramachandran

Designation :

Director

Address :

1703/ 1704, Building 1, Raheja Classique, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

19.12.1956

Qualification :

B Sc, CA, ICWA

Date of Appointment :

29.12.2007

DIN No.:

00006673

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	U65990GJ1996PLC030537	LUXOR INVESTMENTS LIMITED	Director	31-12-2001	31-12-2001	-	Amalgamated	NO
2	U60300GJ1999PLC040064	RELIANCE GAS TRANSPORTATION INFRASTRUCTURE LIMITED	Director	29-09-2006	15-05-2006	-	Active	NO
3	U22130DL2006PTC150563	ALPHA BROADCASTING CORPORATION PRIVATE LIMITED	Director	05-07-2006	05-07-2006	18-07-2014	Active	NO
4	U67200MH2006PLC165651	RELIANCE RETAIL INSURANCE BROKING LIMITED	Director	20-11-2006	20-11-2006	-	Active	NO
5	U74999MH2007PTC167376	DHANISHTA COMMERCIALS PRIVATE LIMITED	Director	25-09-2007	22-03-2007	-	Active	NO
6	U45102GJ1997PLC031906	RELIANCE PORTS AND TERMINALS LIMITED	Director	29-12-2007	09-06-2007	-	Active	NO
7	U24232MH2007PTC168160	RELIANCE PHARMACEUTICALS PRIVATE LIMITED	Director	21-08-2008	12-06-2007	-	Amalgamated	NO
8	U99999GJ2000PTC050444	RELIANCE UTILITIES PRIVATE LIMITED	Director	29-09-2008	10-08-2007	18-12-2009	Active	NO
9	U74140MH2000PLC128405	RELOGISTICS INFRASTRUCTURE LIMITED	Director	27-09-2008	26-11-2007	24-07-2012	Active	NO
10	U45400MH2007PLC171344	RELIANCE CONVENTION AND EXHIBITION CENTRE LIMITED	Director	29-09-2008	31-07-2008	-	Active	NO
11	U45400MH2007PLC171342	RELIANCE CORPORATE CENTRE LIMITED	Director	29-09-2008	31-07-2008	-	Active	NO
12	U45300GJ1999PLC036347	RELIANCE JAMNAGAR INFRASTRUCTURE LIMITED	Director	30-06-2010	14-12-2009	-	Amalgamated	NO
13	U52599MH2007PLC176409	RELIANCE HOME PRODUCTS LIMITED	Director	06-09-2010	15-12-2009	-	Amalgamated	NO
14	U74990MH2010PTC202009	SUPRITA COMMERCIALS PRIVATE LIMITED	Director	24-09-2011	21-04-2010	-	Active	NO
15	U74990MH2010PTC202010	PINAKIN COMMERCIALS PRIVATE LIMITED	Director	26-09-2011	21-04-2010	-	Active	NO
16	U74990MH2010PTC202008	PUSHKARA COMMERCIALS PRIVATE LIMITED	Director	26-09-2011	21-04-2010	-	Active	NO
17	U52399MH2010PTC201011	ELAKSHI COMMERCIALS PRIVATE LIMITED	Director	12-09-2011	24-05-2010	-	Active	NO
18	U51109MH2008PLC185389	RELIANCE COMMERCIAL LAND & INFRASTRUCTURE LIMITED	Director	07-08-2010	01-07-2010	-	Active	NO
19	U74900MH2007PTC171234	VANISHREE COMMERCIALS PRIVATE LIMITED	Director	26-09-2011	31-01-2011	-	Active	NO
20	U51109MH2008PTC177458	ALTITUDE MERCANTILE PRIVATE LIMITED	Additional director	20-01-2012	20-01-2012	11-07-2012	Amalgamated	NO
21	U51109MH2008PTC177479	LONGITUDE MERCANTILE PRIVATE LIMITED	Additional director	20-01-2012	20-01-2012	11-07-2012	Amalgamated	NO
22	U52390MH2008PTC177456	EQUATOR TRADING ENTERPRISES PRIVATE LIMITED	Director	28-09-2012	20-01-2012	31-03-2014	Active	NO
23	U51900MP2007PTC020084	ANU TRADING PRIVATE LIMITED	Additional director	28-02-2012	28-02-2012	-	Amalgamated	NO
24	U72900MH2007PLC234712	RELIANCE JIO INFOCOMM LIMITED	Director	18-09-2013	01-03-2013	-	Active	NO
25	U51909MH2006PLC166166	RELIANCE RETAIL VENTURES LIMITED	Director	30-12-2013	16-07-2013	-	Active	NO
26	U32204MH2013PTC239944	RELIANCE JIO ELECTRONICS PRIVATE LIMITED	Additional director	18-07-2013	18-07-2013	01-07-2014	Active	NO
27	U74300DL2011PTC227767	RB MEDIASOFT PRIVATE LIMITED	Additional director	07-07-2014	07-07-2014	-	Active	NO
28	U74300DL2010PTC208242	RB MEDIA HOLDINGS PRIVATE LIMITED	Additional director	07-07-2014	07-07-2014	-	Active	NO
29	U74900DL2011PTC229142	RRB MEDIASOFT PRIVATE LIMITED	Additional director	07-07-2014	07-07-2014	-	Active	NO
30	U65993DL2008PTC178073	RB HOLDINGS PRIVATE LIMITED	Additional director	07-07-2014	07-07-2014	-	Active	NO
31	U93000DL2010PTC211768	COLORFUL MEDIA PRIVATE LIMITED	Additional director	07-07-2014	07-07-2014	-	Active	NO
32	U74900DL2011PTC218428	ADVENTURE MARKETING PRIVATE LIMITED	Additional director	07-07-2014	07-07-2014	-	Active	NO
33	U70101DL2011PTC212179	WATERMARK INFRATECH PRIVATE LIMITED	Additional director	07-07-2014	07-07-2014	-	Active	NO
34	U74999MH2008PTC180506	SANCHAR CONTENT PRIVATE LIMITED	Additional director	18-07-2014	18-07-2014	-	Active	NO
35	AAA-1151	DEVARSHI COMMERCIALS LLP	Body corporate as Designated Partner	23-02-2013	31-05-2010	-	Active	NO
36	AAA-1160	TATTVAM ENTERPRISES LLP	Body corporate as Designated Partner	23-02-2013	31-05-2010	-	Active	NO
37	AAA-1180	KARUNA COMMERCIALS LLP	Body corporate as Designated Partner	23-02-2013	31-05-2010	-	Active	NO
38	AAA-1162	SHRIPAL ENTERPRISES LLP	Body corporate as Designated Partner	23-02-2013	23-02-2013	-	Active	NO

Name :

Mr. Subhashchandra Anantram Malhotra

Designation :

Director

Address :

602, Tulsi Shyam CHS, Limited, Highway Junction Road, Wagle Estate, Thane (West), Thane - 400604, Maharashtra, India

Date of Birth/Age :

13.11.1940

Qualification :

Graduate in Mechanical Engineer

Date of Appointment :

23.03.1997

DIN No.:

00013967

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	L60300MH1988PLC049019	RELIANCE INDUSTRIAL INFRASTRUCTURE LIMITED	Director	16-12-1989	16-12-1989	-	Active	NO
2	U45102GJ1997PLC031906	RELIANCE PORTS AND TERMINALS LIMITED	Director	23-03-1997	23-03-1997	-	Active	NO
3	U74140MH2008PTC183962	N. M. HIGH TECH CONSULTANCY PRIVATE LIMITED	Director	25-06-2008	25-06-2008	22-02-2012	Active	NO

Name :

Mr. Sandeep Junnarkar Hemendra

Designation :

Director

Address :

Flat No.1702, Wallace Apartments, Naushir Bharucha Marg, Mumbai - 400007, Maharashtra, India

Date of Birth/Age :

02.07.1951

Qualification :

B Sc, Post Graduate degree in Law

Date of Appointment :

23.03.1997

DIN No.:

00003534

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	L60300MH1988PLC049019	RELIANCE INDUSTRIAL INFRASTRUCTURE LIMITED	Director	27-04-1991	27-04-1991	-	Active	NO
2	L99999MH1986PLC041612	SUNSHIELD CHEMICALS LIMITED	Director	27-02-1992	27-02-1992	27-12-2012	Active	NO
3	L17120MH1985PLC036500	JAI CORP LIMITED	Director	19-08-1994	19-08-1994	-	Active	NO
4	U65910MH1986PLC041081	RELIANCE INDUSTRIAL INVESTMENTS AND HOLDINGS LIMITED	Director	05-10-1994	05-10-1994	-	Active	NO
5	U45102GJ1997PLC031906	RELIANCE PORTS AND TERMINALS LIMITED	Director	23-03-1997	23-03-1997	-	Active	NO
6	U99999MH1895NPL000121	BOMBAY INCORPORATED LAW SOCIETY	Director	18-11-1999	18-11-1999	-	Active	NO
7	L65990TN1975PLC062634	STERLITE INDUSTRIES (INDIA) LIMITED	Director	29-06-2001	29-06-2001	-	Amalgamated	NO
8	L15420PN1933PLC133303	TILAKNAGAR INDUSTRIES LIMITED	Director	23-10-2001	23-10-2001	05-05-2009	Active	NO
9	L23200GJ1969PLC001569	INDIAN PETROCHEMICALS CORPORATION LIMITED	Director	04-06-2002	04-06-2002	-	Amalgamated	NO
10	U45201DL1999PLC125988	IIDC Limited	Director	11-02-2003	11-02-2003	-	Active	NO
11	L74999MH1964PLC012878	EXCEL CROP CARE LTD	Director	03-09-2003	03-09-2003	-	Active	NO
12	L74999MH1934PLC002093	EVEREST INDUSTRIES LIMITED	Director	27-07-2007	07-11-2005	-	Active	NO
13	U99999GJ2000PTC050444	RELIANCE UTILITIES Private LIMITED	Director	29-09-2007	17-04-2007	24-12-2009	Active	NO
14	U70102MH2007PLC176139	JAI REALTY VENTURES LIMITED	Director	20-08-2008	18-12-2007	-	Active	NO
15	U18101GJ2007PTC050985	DIESEL FASHION INDIA RELIANCE PRIVATE LIMITED	Director	31-10-2008	09-06-2008	05-12-2008	Active	NO
16	U67190TN1995PLC069644	STERLITE ENERGY LIMITED	Director	10-10-2009	05-10-2009	04-10-2011	Amalgamated	NO
17	U72200TN2006PLC060330	IL&FS TAMIL NADU POWER COMPANY LIMITED	Additional director	30-12-2013	30-12-2013	-	Active	NO

Name :

Bhadri Prasad Yepuri

Designation :

Director

Address :

Sector No. 22, House No. 25/D, Reliance Greens, Motikhavdi, Jamnagar – 361142, Gujarat, India

Date of Birth/Age :

02.01.1958

Qualification :

B.Tech (Chemical)

Date of Appointment :

30.03.2013

DIN No.:

06526111

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	Company/ LLP Status	Defaulting status
1	U45102GJ1997PLC031906	RELIANCE PORTS AND TERMINALS LIMITED	Director	30-03-2013	15-03-2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Vishvanath Rachappa Indi
Designation :	Manager
Address :	Reliance Greens House No. 26, Sector 3, Village Motikhavdi, P.O. Digvijaygram, Jamnagar - 361140, Gujarat, India
Date of Birth/Age :	17.03.1959
Qualification :	MBA-Finance, MTech-Civi, BTech-Civil
Date of Appointment :	01.05.2007
PAN No.:	AADPI6022K
Name :	Mrs. Geeta Kalyandas Fulwadaya
Designation :	Secretary
Address :	E–51, Jharokha II, Kalptaru Vatika, Akurli Road, Opposite ESIS Hospital, Kandivali (East), Mumbai – 400101, Maharashtra, India
Date of Birth/Age :	17.11.1980
Date of Appointment :	20.03.2006
PAN No.:	AAFPF7961G
Name :	Mr. A. Poddar
Designation :	Senior Vice President
Name :	Mr. D Murali
Designation :	President
Name :	Mr. Giri Raj Singh
Designation :	Senior Vice President
Name :	Mr. C.V.S.K. Prasad
Designation :	Senior Vice President
Name :	Mr. Navin Patel
Designation :	Senior Vice President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2013

Names of Equity Shareholders [Physical Mode]	No. of Shares
Reliance Industries Holding Private Limited, India	639999999
Rajeev Mittal jointly with Reliance Industries Holding Private Limited, India	1
Sanjeev Dandekar jointly with Reliance Industries Holding Private Limited, India	1
Priyen Shah jointly with Reliance Industries Holding Private Limited, India	1
Reliance Property Management Services Private Limited, India jointly with Reliance Industries Holding Private Limited, India	1
Hitesh Vora jointly with Reliance Industries Holding Private Limited, India	1
Satish Parikh jointly with Reliance Industries Holding Private Limited, India	1
Total	640000005

Names of Equity Shareholder [Electronic Mode]	No. of Shares
Reliance Industries Holding Private Limited, India	2109999995
Total	2109999995

Names of Preference Shareholder [Physical Mode]	No. of Shares
Leisure Life Commercials Private Limited, India	47000000
Total	47000000

As on 31.12.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Port and Marine Facilities, Transportation and Logistics, Construction and Engineering, SEZ Co-development and Pipeline Infrastructure Facilities.

Products :

Item Code No. (ITC Code)	Product Description
99675111	Port services

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Indian Bank, United India Building, Sir P. M. Road, Fort, Mumbai - 400001, Maharashtra, India

IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

· Axis Bank Limited, Axis House, 2E, Bombay Dyeing Mills Compound, PB Marg, Worli, Mumbai - 400025, Maharashtra, India

Facilities :

SECURED LOANS	30.06.2013 (Rs. In Millions)	30.06.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Non-convertible debentures others	75000.000	35000.000
Rupee term loans from banks	6834.200	11370.800
Foreign currency term loans from banks	11201.000	15210.700
Rupee term loans from others	659.900	1182.900
Total	93695.100	62764.400

NOTE:

1) 8.45% Secured Redeemable Non-Convertible Debentures- PPD 5 aggregating Rs. 40000.000 Millions (Previous Year Rs. Nil) issued during the year are redeemable at par on June 12, 2023. These Non-Convertible Debentures are to be secured by;

(a) a pari passu charge by way of hypothecation over;

i) all rights, title, interest, benefit, claims and demands in, to, or in respect of construction, earth moving and other related equipment (including spares, tools and accessories) of the Plant and Equipment Hiring Division (including related to Co-Developer of SEZ Division) of the Company;

ii) all movable assets consisting of current assets and loans and advances of the Company (excluding those already hypothecated to existing lenders of the Company) and current investments of the proposed project of the Company to set-up additional jetty berths at Sikka, Jamnagar (Gujarat);

(b) mortgage over a building owned by the Company situated at Kandivali, Mumbai;

The Company is in the process of creating of securities / charge for the aforesaid debentures.

2) 10.40% Secured Redeemable Non-Convertible Debentures- PPD 4 aggregating Rs. 25000.000 Millions (Previous Year Rs. 25000.000 Millions) are redeemable at par on July 18, 2021. These Non-Convertible Debentures are secured by way of first ranking charge on Current Assets and Loans and Advances of the Company, not hypothecated to existing lenders of the Company and also secured by a negative lien on the fixed assets of the Company existing as on June 30, 2011.

3) 9.30% Secured Redeemable Non-Convertible Debentures- PPD 3 aggregating Rs. 10000.000 Millions (Previous Year Rs. 10000.000 Millions) are redeemable at par on February 27, 2015. These Non-Convertible Debentures are secured by way of mortgage of specific immovable property of the Company situated at Ahmedabad.

4) 9.50% Unsecured Redeemable Non-Convertible Debentures- PPD 1 aggregating Rs. 4700.000 Millions (Previous Year Rs. Nil) have been bought back and cancelled during the year.

5) 9.55% Unsecured Redeemable Non-Convertible Debentures- PPD 2 aggregating Rs. 5000.000 Millions (Previous Year Rs. 5000.000 crore) were earlier redeemable at par in two tranches of Rs. 200.00 crore and Rs. 3000.000 Millions on June 2, 2013 and June 2, 2014 respectively, now rescheduled for redemption at par on June 2, 2021.

1) Term Loans from Banks and Financial Institutions in Indian currency to the extent of Rs. 10047.000 Millions (Previous Year Rs. 14251.900 Millions) are secured by a first ranking pari passu charge;

(a) Over the Company's rights, title and interest in the immovable properties inclusive of the leasehold interest in the leasehold lands both situated at Village Sikka, Taluka Jamnagar and used for rendering Port Infrastructure services under the Contract Documents pertaining to old port facilities.

(b) Over the movable fixed assets and current assets used for rendering Port Infrastructure service under the Contract Documents pertaining to old port facilities.

(c) On the right, title and interest of the Company in the designated account, investments made out of balance proceeds lying in the designated account and an assignment of Company's right, title and interest in, to or in respect of the Contract Documents and insurance policies pertaining to old port facilities.

2) Term Loans from Banks in Indian currency to the extent of Rs. 2503.700 Millions (Previous Year Rs. 3077.500 Millions) are secured by a first pari passu mortgage and charge over fixed assets, all current assets (excluding receivables), all receivables including any proceeds received or arising under any insurance claim, the Trust and Retention Account and all amounts credited therein relating to Pipeline Infrastructure division.

Banking Relations :	--
Financial Institution :	Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India
Auditors :
Name :	Chaturvedi and Shah Chartered Accountants
Address :	714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFC0662N
Holding company :	· Reliance Industries Holding Private Limited CIN No.: U65923MH2007PTC168016 Priyash Commercials Private Limited CIN No.: U51100GJ2005PTC046468
Associates:	· Reliance Industries Limited CIN No.: L17110MH1973PLC019786 Reliance Jamnagar Infrastructure Limited CIN No.: U45300GJ1999PLC036347 The Indian Film Combine Private Limited CIN No.: U92100MH1942PTC003702 Reliance Singapore Holdings Pte. Limited Reliance Global Holding Pte Limited
Fellow Subsidiary Company :	· Reliance Engineering (Middle East) DMCC India Utilities and Power Limited CIN No.: U40100GJ2010PLC059460 Relcom Venture Capital Private Limited CIN No.: U74999MH2000PTC126923 Kankhal Investments and Trading Company Private Limited CIN No.: U65923MH1979PTC021244 Reliance Enterprises Holding Private Limited CIN No.: U67120MH2007PTC168012 Deccan Finvest Private Limited CIN No.: U65910MH2000PTC211633 Reliance Utilities and Power Private Limited CIN No.: U40100GJ1991PTC051130 Reliance Consolidated Holdings Private Limited CIN No.: U65999MH2007PTC168431 Reliance Investment And Trading Private Limited CIN No.: U67120MH2007PTC168436 Antilia Commercial Private Limited CIN No.: U51900MH2000PTC125501 Vibrant Advertising Pvt Ltd CIN No.: U74300GJ1988PTC010703
Subsidiary companies :	· Reliance Utilities Private Limited CIN No.: U99999GJ2000PTC050444 Relogistics Infrastructure Limited CIN No.: U74140MH2000PLC128405 Reliance Gas Transportation Infrastructure Limited CIN No.: U60300GJ1999PLC040064
Other Related Parties :	· Rishike sh Enterprises LLP Pitambar Enterprises LLP Pavana Enterprises LLP Ganga Enterprises Akshaj Enterprises LLP

CAPITAL STRUCTURE

As on 30.06.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000,000,000	Equity Shares	Re. 1/- each	Rs. 50000.000 Millions
2,500,000,000	10% Non-Cumulative Redeemable Preference Shares	Rs. 10/- each	Rs. 25000.000 Millions
	Total		Rs. 75000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,750,000,000	Equity Shares	Re. 1/- each	Rs. 2750.000 Millions
47,000,000	10% Non-Cumulative Redeemable Preference Shares	Rs. 10/- each	Rs. 470.000 Millions
	Total		Rs. 3220.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	30.06.2013	30.06.2012	30.06.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3220.000	3220.000	3040.000
(b) Reserves & Surplus	109932.700	109972.000	164459.900
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	113152.700	113192.000	167499.900
(3) Non-Current Liabilities
(a) long-term borrowings	98695.100	62764.400	52798.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	10563.800	10684.100	77004.000
(d) long-term provisions	5911.700	2755.200	0.000
Total Non-current Liabilities (3)	115170.600	76203.700	129802.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	1887.300
(b) Trade payables	1058.600	3056.500	1887.000
(c) Other current liabilities	22893.400	33627.200	55079.300
(d) Short-term provisions	87.600	2804.100	58.400
Total Current Liabilities (4)	24039.600	39487.800	58912.000
TOTAL	252362.900	228883.500	356213.900
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	44486.400	60921.900	15531.400
(ii) Intangible Assets	25.900	32.800	18093.400
(iii) Capital work-in-progress	854.300	905.400	739.600
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	53799.300	43227.700	221288.100
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	99943.000	92008.400	15056.800
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	199108.900	197096.200	270709.300
(2) Current assets
(a) Current investments	40677.000	4980.200	18209.500
(b) Inventories	1915.700	1881.500	2032.300
(c) Trade receivables	2184.300	5065.300	3830.800
(d) Cash and cash equivalents	82.400	126.500	6881.200
(e) Short-term loans and advances	8217.600	19542.200	53924.500
(f) Other current assets	177.000	191.600	626.300
Total Current Assets	53254.000	31787.300	85504.600
TOTAL	252362.900	228883.500	356213.900

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.06.2013	30.06.2012	30.06.2011
	SALES
		Income	39118.000	48451.200	48271.200
		Other Income	876.800	960.200	652.500
		TOTAL (A)	39994.800	49411.400	48923.700
Less	EXPENSES
		Purchases of Stock-in-Trade	85.000	48.600	33.200
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	1.000	14.300	22.100
		Employees benefits expense	915.800	2447.900	2268.700
		Other expenses	12495.000	25641.700	21759.400
		TOTAL (B)	13496.800	28152.500	24083.400
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		26498.000	21258.900	24840.300
Less	FINANCIAL EXPENSES (D)		6304.900	7580.500	5120.800
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		20193.100	13678.400	19719.500
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17392.400	14872.400	8371.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2800.700	(1194.000)	11348.500
Less	TAX (H)		2840.000	123229.900	1397.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(39.300)	(124423.900)	9951.500
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(115449.200)	8974.800	93.800
Less	SHORT PROVISION FOR TAX FOR EARLIER YEARS		0.000	0.100	0.500
Less	APPROPRIATIONS
		Transferred to Debenture Redemption Reserve	0.000	0.000	1070.000
	BALANCE CARRIED TO THE B/S		(115488.500)	(115449.200)	8974.800
	EARNINGS IN FOREIGN CURRENCY
		Port Infrastructure Services (Including services to SEZ Units and Developers)	16040.300	14030.700	12381.900
		Guarantee Commission	11.300	0.000	0.000
	TOTAL EARNINGS		16051.600	14030.700	12381.900
	IMPORTS
		Capital Goods	299.100	430.200	557.500
		Components and spare parts	583.700	507.500	777.400
	TOTAL IMPORTS		882.800	937.700	1334.900
	Earnings / (Loss) Per Share (Rs.)		(0.01)	(50.08)	5.79

KEY RATIOS

PARTICULARS		30.06.2013	30.06.2012	30.06.2011
PAT / Total Income	(%)	(0.10)	(251.81)	20.34
Net Profit Margin (PBT/Sales)	(%)	7.16	(2.46)	23.51
Return on Total Assets (PBT/Total Assets}	(%)	1.42	(0.65)	8.46
Return on Investment (ROI) (PBT/Networth)		0.02	(0.01)	0.07
Debt Equity Ratio (Total Debt/Networth)		0.87	0.55	0.33
Current Ratio (Current Asset/Current Liability)		2.22	0.80	1.45

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	30.06.2011	30.06.2012	30.06.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	3040.000	3220.000	3220.000
Reserves & Surplus	164459.900	109972.000	109932.700
Net worth	167499.900	113192.000	113152.700
long-term borrowings	52798.000	62764.400	98695.100
Short term borrowings	1887.300	0.000	0.000
Total borrowings	54685.300	62764.400	98695.100
Debt/Equity ratio	0.326	0.554	0.872

YEAR-ON-YEAR GROWTH

Year on Year Growth	30.06.2011	30.06.2012	30.06.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	48271.200	48451.200	39118.000
		0.373	(19.263)

NET PROFIT MARGIN

Net Profit Margin	30.06.2011	30.06.2012	30.06.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	48271.200	48451.200	39118.000
Profit	9951.500	(124423.900)	(39.300)
	20.62%	(256.80%)	(0.10%)

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	No
12]	Profitability for last three years	No
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10447220	02/12/2013 *	40,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B90560368
2	10314624	15/10/2011	25,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B23953987
3	10255948	29/12/2010	10,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	MAKER TOWERS 'F', 13TH FLOOR, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA	B01964667
4	10074361	19/04/2012 *	23,000,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, 2E, BOMBAY DYEING MILLS COMPOUND, PB MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B39413943
5	10047253	26/10/2007 *	42,500,000,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	A26142075
6	10004050	28/03/2006	6,000,000,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	A00354126
7	90211642	22/05/1987	5,300,000.00	THE INDUSTRIAL RECONSTRUCTION BANK OF INDIA	NETAJI SUBHAS ROAD, CALCUTTA, WEST BENGAL - 700001, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULAR	30.06.2013 (Rs. In Millions)	30.06.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Non-convertible debentures others	5000.000	0.000
Total	5000.000	0.000

CHANGE OF ADDRESS

The registered office address of the company has been shifted from Village Magpar / Padana, Taluka Lalpur, District Jamnagar, Gujarat, India to present address w.e.f.16.07.2008.

OPERATIONS:

During the year, the income from operations is Rs. 39118.000 Millions as against Rs. 48451.200 Millions in the previous year. The Profit from Continuing Operations before Interest, Depreciation and Tax for the year is Rs. 26498.000 Millions as against Rs. 21258.900 Millions in the previous year

FIXED ASSETS

Tangible Assets

Land

· Buildings

Plant and Equipment

Furniture and Fixtures

Vehicles

Motor Vehicles

Office Equipment

Other Equipments

Leasehold Improvements

Intangible Assets

· Computer Software

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.60.85
UK Pound	1	Rs.102.69
Euro	1	Rs.81.46

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	8
--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		77

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.