MIRA INFORM REPORT

Report Date :

13.12.2014

IDENTIFICATION DETAILS

Name :	LEE PHARMA LIMITED (w.e.f.06.10.1997)
Formerly Known As :	LEE PHARMA PRIVATE LIMITED
Registered Office :	Survey No. 257 and 258/1, Door No. 6/56, C Block, Opposite IDPL Factory, Moosapet (Village), Balanagar (Post) Hyderabad – 500037, Telangana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.10.1997
Com. Reg. No.:	36-028095
Capital Investment / Paid-up Capital :	Rs. 14.509 Millions
CIN No.: [Company Identification No.]	U24230TG1997PLC028095
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACL3435F
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of different types of Bulk Drugs and Intermediates.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1200000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Management of the company has failed to file its latest financial for the year 2014 with the government department. As per available financial of 2013, financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 = BBB-
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	September 30, 2014.

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Have moderate degree of safety and carry higher credit risk.
Date	September 30, 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 DENIED BY

Name :	Mr. S.K. Bhat
Designation :	Sales Department
Contact No.:	91-8043042102
Date :	10.12.2014

LOCATIONS

Registered Office :	Survey No. 257 and 258/1, Door No. 6/56, C Block, Opposite IDPL Factory, Moosapet (Village), Balanagar (Post) Hyderabad – 500037, Telangana, India
Tel. No.:	91-40-66170334/ 66170336
Mobile No.:	91-8043042102 (Mr. S.K. Bhat)
Fax No.:	91-40-66170330
E-Mail :	info@leepharma.com sales@leepharma.com purchse@leepharma.com accounts@leepharma.com

DIRECTORS

As On 30.09.2013

Name :

Alla Venkata Reddy

Designation :

Managing Director

Address :

Plot No. 157, Vivekanand Nagar Colony, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India

Date of Birth/Age :

15.02.1955

Date of Appointment :

27.08.2007

DIN No.:

00018534

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	U65993TG1995PTC019971	LEE HEALTH DOMAIN INDIA PRIVATE LIMITED	Director	07/04/1995	07/04/1995	-	Active	NO
2	U24230TG1997PLC028095	LEE PHARMA LIMITED	Managing director	27/08/2012	06/10/1997	-	Active	NO
3	U24239TG1998PTC030275	LEE POWER & FUEL PRIVATE LIMITED	Director	30/09/1998	30/09/1998	-	Active	NO
4	U01110TG2001PTC036979	GENOVA BIOTECHNIQUES PRIVATE LIMITED	Director	18/08/2006	18/08/2006	17/07/2007	Active	NO
5	U45201TG2007PTC056353	INDKEY INFRA PROJECTS PRIVATE LIMITED	Director	19/11/2007	19/11/2007	12/06/2014	Active	NO

Name :

Alla Ratna Kumari

Designation :

Whole Time Director

Address :

Plot No. 157, Vivekanand Nagar Colony, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India

Date of Birth/Age :

22.11.1960

Date of Appointment :

27.08.2007

DIN No.:

00022478

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	U65993TG1995PTC019971	LEE HEALTH DOMAIN INDIA PRIVATE LIMITED	Director	07/04/1995	07/04/1995	-	Active	NO
2	U24230TG1997PLC028095	LEE PHARMA LIMITED	Whole-time director	27/08/2012	06/10/1997	-	Active	NO
3	U24239TG1998PTC030275	LEE POWER & FUEL PRIVATE LIMITED	Director	23/03/1999	23/03/1999	-	Active	NO

Name :

Alla Raghu Mitra

Designation :

Whole Time Director

Address :

Plot No. 157, Vivekanand Nagar Colony, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India

Date of Birth/Age :

10.10.1980

Date of Appointment :

27.08.2007

DIN No.:

00080789

Name :

Dr. Tatineni Gopala Rao

Designation :

Director

Address :

Flat No. 203, Siri Residency, Thakur Mansion Lane, Somajiguda, Hyderabad – 500072, Andhra Pradesh, India

Date of Birth/Age :

15.07.1944

Date of Appointment :

22.04.1999

DIN No.:

00043939

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	U70102TG1997PTC027377	SAROVAR ESTATES PRIVATE LIMITED	Director	19/06/1997	19/06/1997	-	Active	NO
2	U33112TG1997PTC028505	JUBILEE HOSPITALS PRIVATE LIMITED	Director	09/12/1997	09/12/1997	-	Strike off	NO
3	U24230TG1997PLC028095	LEE PHARMA LIMITED	Director	22/04/1999	22/04/1999	-	Active	NO
4	U70102TG2002PTC038338	VANASTALI HILLS REAL ESTATES PRIVATE LIMITED	Director	09/01/2002	09/01/2002	-	Active	NO
5	U45200TG2004PTC044300	WESTSIDE ESTATES PRIVATE LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
6	U45400TG2007PTC053739	GVS INFRASTRUCTURE PRIVATE LIMITED	Director	24/04/2007	24/04/2007	-	Active	NO

Name :

Francisco Javier Castellsague Casals

Designation :

Director

Address :

Grava Carlos III, 6131, Barcelona, Spain

Date of Birth/Age :

09.06.1941

Date of Appointment :

18.06.2007

DIN No.:

01869905

Name :

Gary Ethan Kamins

Designation :

Director

Address :

1415, Via Cresta, Pac Palisades ca 920272, California, USA

Date of Birth/Age :

06.06.1962

Date of Appointment :

18.06.2007

DIN No.:

01832818

Name :

Vijaykumar Raghunandanprasad Agrawal

Designation :

Director

Address :

23, Ahoora Mahal 6^th Floor, 93, Marine Drive, G Road, Mumbai – 400002, Maharashtra, India

Date of Birth/Age :

13.03.1952

Date of Appointment :

18.06.2007

DIN No.:

01710632

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	L24110MH1992PLC065942	EMMESSAR BIOTECH AND NUTRITION LTD	Director	17/03/1992	17/03/1992	-	Active	NO
2	U51496MH2002PTC137268	AGARWAL CHEMICAL AGENCIES PRIVATE LIMITED	Director	18/09/2002	18/09/2002	-	Active	NO
3	U74999MH2005PTC154265	SURVIVAL TECHNOLOGIES PRIVATE LIMITED	Director	27/06/2005	27/06/2005	-	Active	NO
4	U24230TG1997PLC028095	LEE PHARMA LIMITED	Director	27/09/2007	27/09/2007	-	Active	NO
5	U24100MH2013PTC240542	RUDRA SPECIALITY CHEM PRIVATE LIMITED	Director	16/02/2013	16/02/2013	-	Active	NO
6	U74900MH2013PTC245819	SURVIVAL HEALTH & NUTRICARE PRIVATE LIMITED	Director	17/07/2013	17/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. S.K. Bhat
Designation :	Sales Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2013

Names of Shareholders	No. of Shares
Alla Venkata Reddy	249000
Alla Ratna Kumari	161700
Alla Raghumitra	102300
Alla Leela Rani	62100
P. V. Subba Reddy	16200
P. Jagadeeshwara Reddy	4050
P. Padmalatha Reddy	5400
P. Anjusha Reddy	1350
P. Venkata Reddy	6750
P. Varalakshmi	1350
P. Venkata Reddy	2700
K. Lahiri	100
K. Swapna Lahiri	100
M. Lakshmi Prasanna	100
P. Madhusudhan Reddy	5400
P. Bhuvana Reddy	5400
A. Nagi Reddy	42700
A. Anjamma Reddy	40800
K. Tarun Reddy	10000
K. Bhargav Reddy	10000
B. Pitchi Reddy	20000
B. Dhanalakshmi Reddy	15000
B. Anasurya Reddy	15000
S. Madhusudhan Reddy	20000
M. Mallikarjun Rao	100
A. Vijaya Kumari	100
B. Rama Subba Reddy	100
K. Mallikarhun Reddy	100
T. Gopal Rao	100
Moehs Iberica S L	616636
Vijay Kumar Raghunandan Prasad Agarwal	36273
Total	1450909

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	42.50
Directors or relatives of Directors	57.50
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of different types of Bulk Drugs and Intermediates.

Products :

Description of product or service category	ITC Code No.
Itraconazole pellets	29420090
Omperazole pellets	29420090
Omeprazole powder	29420090
Pantaprazole powder	29420090
Lansoprazole pellets	29420090
Itraconazole pellets	29420090
Azayicyclo hexane-3 corboxamide-2	29420090
Tamsulosin HCL Sr pellets	29420090
Lansoprazole powder	29420090
Domperidone pellets	29420090

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Available

Purchasing :

Not Available

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

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

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loan from banks	56.477	24.000
Other external commercial borrowings	9.050	3.434
Deferred payment liabilities	4.837	6.055
SHORT TERM BORROWINGS
Loans repayable on demand	377.880	297.289
Total	448.244	330.778

Financial Institution :	Reliance Capital Limited, “H” Block 1^st Floor, Dhirubhai Amabani Knowledge City, Koparkhairne, Navi Mumbai – 400710, Maharashtra, India
Auditors :
Name :	M.V. Narayana Reddy and Company Chartered Accountant
Address :	Flat no.504, Vijayasree Apartment Sameerpet Hyderabad, Andhra Pradesh, India
PAN No.:	AADFM4830F
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Indkey Infra Projects Private Limited (CIN No.: U45201AP2007PTC056353) Moehs Iberical S.A A Leela Rani

CAPITAL STRUCTURE

As On 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
7,650,000	Equity Shares	Rs. 10/- each	Rs. 76.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,450,909	Equity Shares	Rs. 10/- each	Rs. 14.509 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	14.509	14.509	14.509
(b) Reserves & Surplus	440.269	385.440	366.669
(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)	454.778	399.949	381.178
(3) Non-Current Liabilities
(a) long-term borrowings	99.084	41.514	53.531
(b) Deferred tax liabilities (Net)	41.547	37.411	33.137
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	5.288	5.656	6.058
Total Non-current Liabilities (3)	145.919	84.581	92.726
(4) Current Liabilities
(a) Short term borrowings	381.802	300.400	224.370
(b) Trade payables	482.840	335.636	207.981
(c) Other current liabilities	117.432	81.903	71.714
(d) Short-term provisions	12.901	7.511	5.717
Total Current Liabilities (4)	994.975	725.450	509.782
TOTAL	1595.672	1209.980	983.686
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	539.064	485.247	464.124
(ii) Intangible Assets	1.755	1.019	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	8.215	6.903	5.024
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	549.034	493.169	469.148
(2) Current assets
(a) Current investments	0.000	0.000	10.000
(b) Inventories	428.021	282.117	241.543
(c) Trade receivables	495.092	352.475	216.949
(d) Cash and cash equivalents	18.916	12.532	11.118
(e) Short-term loans and advances	84.316	69.582	34.111
(f) Other current assets	20.293	0.105	0.817
Total Current Assets	1046.638	716.811	514.538
TOTAL	1595.672	1209.980	983.686

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1604.710	1183.568	847.249
		Other Income	17.789	23.623	5.443
		TOTAL (A)	1622.499	1207.191	852.692
Less	EXPENSES
		Cost of material consumed	1171.471	813.569	546.936
		Purchase of Stock-in-Trade	3.884	3.056	2.811
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(62.686)	(4.029)	(19.889)
		Employees benefit expenses	77.684	64.453	54.505
		Other expenses	304.443	234.340	195.036
		TOTAL (B)	1494.796	1111.389	779.399
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		127.703	95.802	73.293
Less	FINANCIAL EXPENSES (D)		46.034	37.675	26.211
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		81.669	58.127	47.082
Less/ Add	DEPRECIATION/ AMORTISATION (F)		32.129	28.687	24.740
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		49.540	29.440	22.342
Less	TAX (H)		8.258	10.669	9.278
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		41.282	18.771	13.064
Add	PREVIOUS YEAR’S BALANCE BROUGHT FORWARD		95.287	52.458	43.687
Add	MAT CREDIT ENTITLEMENT		0.000	11.546	0.000
Less	APPROPRIATIONS
	Transfer to General Reserve		0.000	10.000	10.000
	BALANCE CARRIED TO THE B/S		136.569	95.287	52.458
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	596.911	435.179	0.000
	TOTAL EARNINGS		596.911	435.179	0.000
	IMPORTS
		Raw Materials	157.569	140.877	0.000
		Capital Goods	7.015	1.811	0.000
		Others	5.278	8.830	0.000
	TOTAL IMPORTS		169.862	151.518	0.000
	Earnings / (Loss) Per Share (Rs.)		28.45	12.94	9.00

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin PAT / Sales	(%)	2.57	1.59	1.54
Operating Profit Margin (PBDIT/Sales)	(%)	7.96	8.09	8.65
Return on Total Assets (PBT/Total Assets}	(%)	3.10	2.43	2.27
Return on Investment (ROI) (PBT/Networth)		0.11	0.07	0.06
Debt Equity Ratio (Total Liability/Networth)		1.06	0.85	0.73
Current Ratio (Current Asset/Current Liability)		1.05	0.99	1.01

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	14.509	14.509	14.509
Reserves & Surplus	366.669	385.440	440.269
Net worth	381.178	399.949	454.778
long-term borrowings	53.531	41.514	99.084
Short term borrowings	224.370	300.400	381.802
Total borrowings	277.901	341.914	480.886
Debt/Equity ratio	0.729	0.855	1.057

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	847.249	1183.568	1604.710
		39.695	35.582

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	847.249	1183.568	1604.710
Profit	13.064	18.771	41.282
	1.54%	1.59%	2.57%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	------------------
22]	Litigations that the firm / promoter involved in	------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-------------------
26]	Buyer visit details	-------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

Note:

The registered office of the company has been shifted from Flat No: 401, A - Block, Saidatta Apartments, Srinivasa Nagar Colony (East), Ameerpet, Hyderabad – 500038, Andhra Pradesh, India to present address w.e.f. 09.05.2007

REVIEW OF THE BUSINESS OPERATIONS

During the year, the Company has clocked a Total Income of Rs.1622.499 Millions as against Rs.1207.191 Millions in the preceding financial year registering a growth of 34.59 % in the current year sales. The company has earned a net profit of Rs.41.283 Millions (previous year Rs.18.771 Millions) after providing for taxes of Rs.14.730 Millions (previous year Rs.10.669 Millions).

During the year the company has strengthed its position in both the export and domestic market. In the export market for US, the company has filed its first USDMF for Lansoprazole and anti ulcerative product having a market of more than One US billion. In the coming financial year the company will be able to add 3 to 4 USDMF. In the european market, the company has got CEP approval for Lansoprazole basing on which it will be able to increase its sales for the coming financial year.

The company is also now holding a strong share in domestic market for APIS. This is because the company has been able to get into new segment molecules like Montelukast Sodium, Atorvastatin Calcium, Rosuvastatin Calcium and Moxifloxacin. Company is major supplier to all the big formulation gaints in Indian Market. Its expecting to improve more in the coming financial year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10522881	15/09/2014	14,012,020.00	ELECTRONICA FINANCE LIMITED	128/A, Plot No.3,Kailashchandra Appartments,, Paud Road, Kothrud, Pune, Maharashtra - 411038, INDIA	C23740855
2	10522893	25/07/2014	150,000,000.00	HDFC Bank Limited	1-10-60/3 4TH FLOOR SURYODAYA, BEGUMPET, HYDERABAD, Telangana - 500016, INDIA	C23775299
3	10497113	30/05/2014	5,272,591.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	C05346085
4	10475487	30/01/2014	100,000,000.00	SBI GLOBAL FACTORS LIMITED	6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, C  OMPLEX, BANDRA(EAST), MUMBAI, Maharashtra – 400051, INDIA	B95451597
5	10461134	22/11/2013	5,700,000.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B89920805
6	10439220	30/06/2013	5,599,526.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B80512213
7	10406787	26/02/2013	5,700,000.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B69096345
8	10362105	30/04/2012	4,312,054.00	RELIANCE CAPITAL LTD	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B42223701
9	90124067	19/12/2013 *	756,200,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN ROAD, SOMAJ  IGUDA, HYDERABAD, Andhra Pradesh - 500082, INDIA	B94460102
10	90258475	18/10/2005 *	5,200,000.00	STATE BANK OF INDIA	BALANAGAR BRANCH, HYDERABAD, Andhra Pradesh, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from related parties	28.720	8.025
SHORT TERM BORROWINGS
Loans and advances from related parties	3.922	3.111
Total	32.642	11.136

FIXED ASSETS

• Land
• Buildings
• Factory Building
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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. 62.44
UK Pound	1	Rs. 98.15
Euro	1	Rs. 77.38

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	RAS
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.