MIRA INFORM REPORT

Report Date :

19.02.2014

IDENTIFICATION DETAILS

Name :	POWERICA LIMITED (w.e.f. 05.10.1989)
Formerly Known As :	CONSOLIDATED POWER SYSTEMS LIMITED
Registered Office :	9^th Floor, Bakhtawar, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.05.1984
Com. Reg. No.:	11-032825
Capital Investment / Paid-up Capital :	Rs.93.607 millions
CIN No.: [Company Identification No.]	U31100MH1984PLC032825
TAN No.: [Tax Deduction & Collection Account No.]	MUMP15268B
PAN No.: [Permanent Account No.]	AAACP3812E
Legal Form :	A Closely Held Public Limited Liability company
Line of Business :	Subject is engaged in the manufacture, installation and after-sales service of diesel generator sets and also engaged in generation of electricity from Wind Turbine Generators.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (62)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The rating reflects Powerica’s strong market position and its healthy financial risk profile, marked by low gearing and healthy debt protection metrics. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating : “AA”
Rating Explanation	High degree of safety and very low credit risk.
Date	08.04.2013

Rating Agency Name	CRISIL
Rating	Short term rating : “A1”
Rating Explanation	Strong degree of safety and carry lowest credit risk.
Date	08.04.2013

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

(Tel. No.: 91-22-66562525)

LOCATIONS

Registered/ Corporate Marketing Office:	9^th Floor, Bakhtawar, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No. :	91-22-66562525
Fax No. :	91-22-43152515
E-Mail :	atp@powericaltd.com
Website :	www.powericaltd.com
Administrative office :	115, Mittal Court, B-Wing, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22- 66562525 / 66562510 / 2282 5949
Fax No.:	91-22-22043782
E-Mail :	powerica@bom2.vsnl.net.in
Factory 1 :	Taloja B-6, MIDC Industrial Area, Taloja, Raigad – 410 208, Maharashtra, India
Tel. No.:	91-22-67771500/6771600
Fax No.:	91-22-27412221
E-Mail :	sanjiv.sharma@powericaltd.com
Factory 2 :	Taloja Factory (Design Department) B-8, MIDC Industrial Area, Taloja, Raigad, Maharashtra, India
Tel. No.:	91-22-67771500/6777160
Fax No.:	91-22-27402609/27411531
Contact Person:	Mr. U.A. Gadiyar
Factory 3 :	Bangalore Shed – III Bommanahalli Village, Neelamangala Taluk, Bangalore – 560 123, Karnataka, India
Tel. No.:	91-80-27724994/5 27722392
Fax No.:	91-80-27724946
E-Mail :	nelaadmin@powericaltd.com
Factory 4 :	8-10, Surpreme Industrial Area, Bhimpore Village, Daman – 396 210, Daman and Diu, India
Tel. No.:	91-260-2220707
Fax No.:	91-260-2220836
E-Mail :	m.raveendran@powericaltd.com
Branch Office 1 :	#40-5/3-2, 2nd Floor, Shyam Nagar, Tikkle Road, Krishna Dist, Labbipet, Vijayawada – 520002, Andhra Pradesh, India
Tel. No.:	91-866-6622750 / 6622751
Branch Office:	Also located at: Ahmedabad Aurangabad Bangalore Chennai Coimbatore Daman Faridabad Goa Kochi Kolkata Madurai Nagpur Nashik Pune Secunderabad

DIRECTORS

AS ON 26.06.2013

Name :

Mr. Naresh Chander Oberoi

Designation :

Managing Director

Address :

181-B, Jolly Maker Apartment, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

03.03.1942

Experience :

47 Years

Date of Appointment :

01.04.2011

PAN No.:

AAEPO2381A

DIN No. :

00009000

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	U31100MH1984PLC032825	POWERICA LIMITED	Managing director	1/4/2011	4/5/1984	-	Active	NO
2	L29200MH1978PLC020434	EVEREST KANTO CYLINDER LIMITED	Director	5/7/2005	5/7/2005	-	Active	NO
3	U74140MH2006PTC166052	SUNA PROJECTS AND ADVISORY SERVICES PRIVATE LIMITED	Managing director	7/12/2006	7/12/2006	1/8/2011	Active	NO
4	U55101MH1996PTC097667	DEGUSTIBUS HOSPITALITY PRIVATE LIMITED	Director	29/09/2009	20/06/2009	-	Active	NO
5	U85190MH2010PTC209887	L.N HEALTH CARE PRIVATE LIMITED	Director	9/11/2010	9/11/2010	-	Active	NO
6	U15100MH1991PTC060359	POWERICA GENERATORS PRIVATE LIMITED	Director	8/6/2012	2/3/2012	-	Converted to LLP and dissolved	NO
7	AAB-0074	POWERICA GENERATORS LIMITED LIABILITY PARTNERSHIP	Designated Partner	10/7/2012	10/7/2012	-	Active	NO

Name :

Mr. Bharat Naresh Oberoi

Designation :

Whole-time director

Address :

31-B, Maker Tower, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

22.02.1971

Experience :

21 Years

Date of Appointment :

01.04.2011

PAN No. :

AAAPO0724D

DIN No. :

00083664

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	U45200MH1994PTC081674	NISHKAMA JAGRUTI DEVELOPERS PRIVATE LIMITED	Director	3/10/1994	3/10/1994	28/02/2011	Active	NO
2	U51900MH1980PTC022350	POWERICA SALES AND SERVICES PRIVATE LIMITED	Director	6/3/2000	6/3/2000	-	Active	NO
3	U31100MH1984PLC032825	POWERICA LIMITED	Whole-time director	1/4/2011	1/11/2003	-	Active	NO
4	U55101MH1996PTC097667	DEGUSTIBUS HOSPITALITY PRIVATE LIMITED	Director	29/09/2009	20/06/2009	-	Active	NO

Name :

Mr. Rajat Naresh Oberoi

Designation :

Whole-Time Director

Address :

171-B, 17^th Floor, Jolly Maker Appartment, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

10.10.1972

Experience :

21 Years

Date of Appointment :

01.04.2011

PAN No. :

AAAPO0477D

DIN No. :

00014977

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	U74140MH1981PLC024853	QUADRANT ENGINEERS LIMITED	Director	23/05/2002	23/05/2002	-	Active	NO
2	U51900MH1980PTC022350	POWERICA SALES AND SERVICES PRIVATE LIMITED	Director	1/11/2006	1/9/2003	-	Active	NO
3	U31100MH1984PLC032825	POWERICA LIMITED	Whole-time director	1/4/2011	1/11/2006	-	Active	NO
4	U74140MH2006PTC166052	SUNA PROJECTS AND ADVISORY SERVICES PRIVATE LIMITED	Director	11/12/2006	11/12/2006	1/7/2011	Active	NO
5	U85190MH2010PTC209887	L.N HEALTH CARE PRIVATE LIMITED	Director	9/11/2010	9/11/2010	-	Active	NO

Name :

Mr. Kharati Ram Puri

Designation :

Whole-Time Director

Address :

50 Sunita, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

10.04.1926

Qualification :

Bachelor of Arts

Experience :

61 Years

Date of Appointment :

01.04.2011

PAN No. :

AAEPP8874D

DIN No. :

00015011

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	U51900MH1984PTC032117	ASHUTOSH TRADERS PRIVATE LIMITED	Director	16/10/1985	16/10/1985	-	Converted to LLP and dissolved	NO
2	U31100MH2005PTC153415	ASA ELECTRO POWER SYSTEMS PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Active	NO
3	U31100MH1984PLC032825	POWERICA LIMITED	Whole-time director	1/4/2011	1/1/2007	-	Active	NO
4	U51900MH1995NPL119984	ALL INDIA BUSINESS COUNCIL	Director	1/1/2008	1/1/2008	-	Active	NO
5	AAA-8091	ASHUTOSH TRADERS LLP	Designated Partner	24/02/2012	24/02/2012	-	Active	NO

Name :

Mr. Nainesh Jaisingh

Designation :

Nominee Director

Address :

A-33, Meherina, 51C, Nepean Sea Road, Mumbai – 400 036, Maharashtra, India

Date of Birth/Age :

24.04.1967

Qualification :

Bachelors Degree (Honors) in Technology

Date of Appointment :

01.10.2007

DIN No. :

00061014

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	U74130MH2003PTC141496	STANDARD CHARTERED PRIVATE EQUITY ADVISORY (INDIA) PRIVATE LIMITED	Director	17/06/2005	17/06/2005	-	Active	NO
2	L61200GJ1985PLC007730	ABG SHIPYARD LIMITED	Nominee director	7/7/2005	7/7/2005	29/07/2011	Active	NO
3	U34102MH1999PTC123296	ENDURANCE TECHNOLOGIES PRIVATE LIMITED (CN)	Director	17/08/2006	17/08/2006	22/12/2011	Active	NO
4	U31100MH1984PLC032825	POWERICA LIMITED	Nominee director	1/10/2007	1/10/2007	-	Active	NO
5	U74999DL2005PTC132134	INTERGLOBE TECHNOLOGY QUOTIENT PRIVATE LIMITED	Director	30/06/2008	11/12/2007	-	Active	NO
6	U74140DL2007PTC162695	ITQ CONSULTANCY PRIVATE LIMITED	Director	30/06/2009	23/09/2008	-	Under liquidation	NO
7	U28999KA2001PTC029937	FIREPRO SYSTEMS PRIVATE LIMITED	Director	15/12/2009	15/12/2009	22/12/2011	Active	NO
8	U55101KA2008PTC046866	COFFEE DAY RESORTS PRIVATE LIMITED	Nominee director	10/2/2010	10/2/2010	-	Active	NO
9	U85110KA1993PLC015001	AMALGAMATED BEAN COFFEE TRADING COMPANY LIMITED	Director	30/06/2010	7/6/2010	-	Active	NO
10	L52599TN1961PLC028758	REDINGTON (INDIA) LIMITED	Director	31/07/2012	5/8/2011	-	Active	NO
11	U99999GJ1976PLC018945	INOX INDIA LIMITED	Alternate director	22/08/2012	22/08/2012	-	Active	NO
12	L92100MH1997PLC108981	PRIME FOCUS LIMITED	Director	20/12/2012	5/11/2012	-	Active	NO

Name :

Mr. Mukul Nag

Designation :

Alternate Director

Address :

B-503 Ahok Towers, Dr. S S Rao Road, Parel, Mumbai – 400 012, Maharashtra, India

Date of Birth/Age :

13.07.1970

Qualification :

Bachelors Degree (Honors) in Electrical and Electronics Engineering and Masters in Business Administration

Date of Appointment :

30.07.2010

DIN No. :

03168627

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	U31100MH1984PLC032825	POWERICA LIMITED	Alternate director	30/07/2010	30/07/2010	-	Active	NO
2	L52599TN1961PLC028758	REDINGTON (INDIA) LIMITED	Alternate director	31/01/2013	25/05/2012	-	Active	NO
3	U99999GJ1976PLC018945	INOX INDIA LIMITED	Director	24/09/2013	22/08/2012	-	Active	NO

Name :

Mr. Dinesh Kumar

Designation :

Director

Address :

21, 17th Cross Malleshwram Bangalore – 560 055, Karnataka, India.

Date of Birth/Age :

02.12.1937

Qualification :

Post graduation degree from Military Studies from Defence Services Staff College

Date of Appointment :

25.06.2009

DIN No. :

01133565

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	U31101KA2000PTC026953	EMERSON INDUSTRIAL AUTOMATION ELECTRIC POWER GENERATION PRIVATE LIMITED	Director	17/09/2005	17/09/2005	12/2/2009	Active	NO
2	U31100MH1984PLC032825	POWERICA LIMITED	Director	25/09/2009	25/06/2009	-	Active	NO

Name :

Mr. Ghanshyam Dass

Designation :

Director

Address :

31A, Sobha Emerald, Sobha Suburb, 1A, Behind Jakkur Flying Club, Jakkur, Bangalore – 560 064, Karnataka, India

Date of Birth/Age :

10.07.1952

Qualification :

Graduation degree with Honors in Economics and Post graduation degree in Linguistics

Date of Appointment :

12.07.2011

DIN No. :

01807011

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	U50101DL2000PTC107519	SHARNAM MOTOR SERVICES PRIVATE LIMITED	Additional director	15/11/2008	15/11/2008	1/2/2009	Active	NO
2	L65191KL1927PLC000307	DHANLAXMI BANK LIMITED	Director	31/07/2009	31/07/2009	16/07/2012	Active	NO
3	L29120MH1986PLC042028	JAIN IRRIGATION SYSTEMS LIMITED	Director appointed in casual vacancy	25/08/2009	25/08/2009	-	Active	NO
4	U74900KA2009PTC051174	CARBON CLEAN SOLUTIONS PRIVATE LIMITED	Director	12/10/2009	12/10/2009	30/05/2011	Active	NO
5	U02423KA2005PTC035749	BIOPURE HEALTHCARE PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO
6	U74899DL1995PTC073584	MAYAR INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED	Director	31/07/2011	26/09/2010	-	Active	NO
7	L24100UP2007PLC032909	JUBILANT INDUSTRIES LIMITED	Director	23/08/2011	26/11/2010	-	Active	NO
8	U31100MH1984PLC032825	POWERICA LIMITED	Director	12/7/2011	10/2/2011	-	Active	NO
9	U74899DL1995PTC065699	ESTEL TECHNOLOGIES PRIVATE LIMITED	Director	23/08/2012	1/7/2011	-	Active	NO
10	U74899DL1990PTC039509	ONLINE RECHARGE SERVICES PRIVATE LIMITED	Director	15/06/2012	1/7/2011	-	Active	NO
11	U52100UP2008PLC035862	JUBILANT AGRI AND CONSUMER PRODUCTS LIMITED	Director	26/08/2013	8/5/2013	-	Active	NO
12	U70102MH2006PLC165847	AVIGHNA INDIA LIMITED	Director	5/7/2013	5/7/2013	-	Active	NO

Name :

Mr. Krishen Dev

Designation :

Director

Address :

Plot No.16, Pallod Farms – II, Banner, Pune – 411 045, Maharashtra, India

Date of Birth/Age :

03.03.1939

Qualification :

Graduation degree in Chemical Engineering

Date of Appointment :

12.07.2011

DIN No. :

00001534

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	L99999DN1982PLC000128	JBF INDUSTRIES LIMITED	Director	14/06/2002	14/06/2002	-	Active	NO
2	L29200MH1978PLC020434	EVEREST KANTO CYLINDER LIMITED	Director	5/7/2005	5/7/2005	-	Active	NO
3	U31100MH1984PLC032825	POWERICA LIMITED	Director	12/7/2011	10/2/2011	-	Active	NO
4	U24290DN2008PLC000287	JBF PETROCHEMICALS LIMITED	Director	7/8/2012	9/5/2012	-	Active	NO

Name :

Mr. Prem Kumar Khurana

Designation :

Director

Address :

203 B, Maker Tower 'B', Cuffe Parade, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

29.10.1940

Date of Appointment :

03.07.2012

DIN No. :

00004050

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	U74899DL1974PLC007459	MEDICAL ENGINEERS (INDIA) LIMITED	Whole-time director	10/2/1976	10/2/1976	-	Active	NO
2	L29200MH1978PLC020434	EVEREST KANTO CYLINDER LIMITED	Managing director	1/1/2013	1/8/1978	-	Active	NO
3	U40200MH1981PTC025580	EVEREST INDUSTRIAL GASES PRIVATE LIMITED	Whole-time director	10/11/1981	10/11/1981	-	Active	NO
4	U28100MH1981PTC025632	KHURANA FABRICATION INDUSTRIES PRIVATE LIMITED	Whole-time director	13/11/1981	13/11/1981	-	Active	NO
5	U51900MH1982PTC026676	KHURANA EXPORTS PRIVATE LIMITED	Whole-time director	16/03/1982	16/03/1982	-	Active	NO
6	U28121MH1981PTC025563	KHURANA GASES PRIVATE LIMITED	Whole-time director	10/12/1982	10/12/1982	-	Active	NO
7	U65990MH1992PTC069869	EVEREST KANTO INVESTMENT AND FINANCE PRIVATE LIMITED	Director	3/12/1992	3/12/1992	-	Active	NO
8	U28900MH1990PTC055029	UKAY VALVES AND FOUNDERS PRIVATE LIMITED	Director	30/09/2008	10/7/2008	-	Active	NO
9	U70100MH1999PTC119688	G N M REALTORS PRIVATE LIMITED	Director	30/09/2009	9/9/2008	-	Active	NO
10	U51410WB2004PLC100920	CALCUTTA COMPRESSIONS AND LIQUEFACTION ENGINEERING LIMITED	Director	23/07/2010	16/04/2009	-	Active	NO
11	U31100MH1984PLC032825	POWERICA LIMITED	Director	3/7/2012	28/05/2012	-	Active	NO

Name :

Mr. Prakash Yashwant Gurav

Designation :

Director

Address :

Mritinjaya Apartments, 3rd Floor, 54 Ideal Colony, Kothrud, Pune – 411029, Maharashtra, India

Date of Birth/Age :

28.12.1953

Date of Appointment :

03.07.2012

DIN No. :

02004317

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	U24110MH1972PLC015561	CONCORDE MOTORS (INDIA) LIMITED	Director	10/6/2008	21/01/2008	-	Active	NO
2	U50300MH1997PLC149349	TATA MOTORS INSURANCE BROKING AND ADVISORY SERVICES LIMITED	Director	30/06/2011	21/01/2008	-	Active	NO
3	U63000MH2008PLC180593	TML DISTRIBUTION COMPANY LIMITED	Director	25/08/2009	31/07/2009	-	Active	NO
4	U31100MH1984PLC032825	POWERICA LIMITED	Director	3/7/2012	28/05/2012	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Kety Pillo Mistry
Designation :	Secretary
Address :	Kalpak Hormus, Flat No. 501, Perry Cross Road, Bandra, Mumbai – 400050, Maharashtra, India
Date of Birth/Age :	20.03.1956
Date of Appointment :	01.05.1998
PAN No.:	AHXPM9896J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.06.2013

Names of Shareholders	No. of Shares
Naresh Chander Oberoi	24710472
Kharati Ram Puri	5883120
Rajat Naresh Oberoi	3888054
Renu Sachin Mehra	1476000
Nedungadi B. T.	398043
Lata Naresh Oberoi	756000
Bharat Naresh Oberoi	4181994
Sunil Kumar Khurana	3456
Standard Chartered Private Equity (Mauritius) II Limited, Mauritius	4129713
Standard Chartered Private Equity (Mauritius) III Limited, Mauritius	1376568
Total	46803420

AS ON 26.06.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	11.76
Directors or relatives of Directors	87.38
Others	0.86
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacture, installation and after-sales service of diesel generator sets and also engaged in generation of electricity from Wind Turbine Generators.

Products/ Services :

Item Code No. (ITC Code)	Product/ Service Description
85023100	Diesel Generating Set
99691120	Electric Generation

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad – 380 006, Gujarat, India

· Citi Bank N.A., Bandra Kurla Complex, G-Block, Bandra (East), Mumbai – 400 051, Maharashtra, India

· Citi Bank N.A. 14, Valmik Complex, Near Parimal Garden, Ambawadi, Ahmedabad – 380 006, Gujarat, India

Canara Bank

HDFC Bank Limited

IDBI Bank Limited

Kotak Mahindra Bank Limited

Indian Bank

Standard Chartered Bank

State Bank of India

State Bank of Mysore

Union Bank of India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loan From Banks - Foreign Currency	1903.626	1479.130
SHORT TERM BORROWINGS
Working capital loans from banks	20.885	312.979
Total	1924.511	1792.109

NOTE

LONG TERM BORROWINGS

a) Nil (Pr. Yr. Rs.456.000 millions) are secured against hypothecation by way of first exclusive charge on 6 Windmills of 1650 KW each presently installed at village Vandhiya, Kutch and pledge of 5 Windmills of 1650 KW each in village Lakhapur, Kutch, 1 Windmill of 1650 KW in village Vandhiya, Kutch

b) Rs.815.840 millions (Pr. Yr. Rs.1023.130 millions) are secured against hypothecation by way of first exclusive charge on 14 Windmills of 1800 KW each presently installed at Kutch, Gujarat, and moveable assets of the Company both present and future situated at Company's premises, warehouses, stockyards, godowns, various worksites or wherever else the same may be held by any party.

c) Rs.1087.790 millions (Pr. Yr. Nil) are secured against hypothecation by way of first exclusive charge of five windmills of 1650 KW in village Lakhapur, Kutch and six windmills of 1650 KW in village Vandhiya, Kutch and all the windmills procured out of the loan including its present and future book debts receivables, its moveable fittings both present and future situated at Companies premises, warehouses, stockyards, godowns, various worksites or wherever else the same may be held by any party.

d) Term loan of Nil (Pr. Yr. Rs.456.000 millions) from Standard Chartered Bank is repayable at the end of 3 years from the date of disbursement i.e. on 23rd September, 2013.

e) Term loan of Rs.815.840 millions (Pr. Yr. Rs.1023.130 millions) from Citi Bank is repayable in 8 semi-annual installments beginning from 25th April, 2013.

f) Term loan of Rs.1087.790 millions (Pr. Yr. Nil) from Standard Chartered Bank is repayable in 16 quarterly installments beginning from 22nd June, 2014.

g) The rate of interest on secured term loans is varying between LIBOR plus 2% to LIBOR plus 3%. Installment following dues in respect of all the above loans upto 31.03.2014 have been grouped under "Current Maturities of long- term debt"

Banking Relations :	--
Auditors :
Name :	Kapoor and Parekh Associates Chartered Accountants
Address :	701, Business Suites 9, S V Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India
PAN No. :	AAAFK1612L
Subsidiary Company :	Quadrant Engineers Limited CIN No.: U74140MH1981PLC024853
Associated Company	· Powerica Sales and Services Private Limited CIN No.: U51900MH1980PTC022350 Art Yarn Exports (India) Private Limited CIN No.: U51494MH2004PTC147119 Suna Projects and Advisory Private Limited CIN No.: U74140MH2006PTC166052 deGustibus Hospitality Private Limited CIN No.: U55101MH1996PTC097667
Significant Interest entities:	Oberoi Family Trust

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100000000	Equity Shares	Rs.2/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46803420	Equity Shares	Rs.2/- each	Rs.93.607 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	93.607	93.607	93.610
(b) Reserves & Surplus	7838.744	7350.777	6887.350
(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)	7932.351	7444.384	6980.960
(3) Non-Current Liabilities
(a) Long-term borrowings	1903.626	1479.130	456.000
(b) Deferred tax liabilities (Net)	1352.491	984.618	757.610
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	19.627	13.374	14.480
Total Non-current Liabilities (3)	3275.744	2477.122	1228.090
(4) Current Liabilities
(a) Short term borrowings	20.885	312.979	63.270
(b) Trade payables	1859.880	1316.918	1284.620
(c) Other current liabilities	1966.793	1922.006	947.450
(d) Short-term provisions	8.606	69.956	192.150
Total Current Liabilities (4)	3856.164	3621.859	2487.490
TOTAL	15064.259	13543.365	10696.540
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6449.870	7284.688	4685.120
(ii) Intangible Assets	10.498	2.592	4.880
(iii) Capital work-in-progress	62.004	99.726	107.230
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	52.328	52.355	25.540
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1012.598	767.275	710.640
(e) Other Non-current assets	4.081	3.289	0.000
Total Non-Current Assets	7591.379	8209.925	5533.410
(2) Current assets
(a) Current investments	1571.951	1489.756	1948.240
(b) Inventories	2092.011	1179.784	1369.310
(c) Trade receivables	1452.553	1403.572	1073.500
(d) Cash and cash equivalents	2122.968	989.153	492.580
(e) Short-term loans and advances	192.103	228.462	243.220
(f) Other current assets	41.294	42.713	36.280
Total Current Assets	7472.880	5333.440	5163.130
TOTAL	15064.259	13543.365	10696.540

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	14524.854	11612.526	11044.440
		Other Income	345.266	200.000	292.500
		TOTAL (A)	14870.120	11812.526	11336.940
Less	EXPENSES
		Cost of materials consumed	9813.005	7897.846	7469.430
		Purchases of stock-in-trade	877.110	691.243	668.030
		Employee benefit expense	683.748	616.101	519.820
		Other expenses	1155.068	782.387	690.960
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(43.488)	15.957	(156.650)
		TOTAL (B)	12485.443	10003.534	9191.590
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2384.677	1808.992	2145.350
Less	FINANCIAL EXPENSES (D)		188.465	94.178	10.730
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2196.212	1714.814	2134.620
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1011.978	705.780	525.070
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		1184.234	1009.034	1609.550
Less	TAX (H)		369.890	382.395	328.970
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		814.344	626.639	1280.580
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		5043.106	4642.341	3774.830
	APPROPRIATIONS
		Transfer to General Reserve	81.434	62.661	128.060
		Interim Dividend	280.821	93.606	104.010
		Tax on Dividend	45.556	22.778	40.590
		Proposed Dividend	0.000	46.803	140.410
	BALANCE CARRIED TO THE B/S		5449.639	5043.106	4642.340
	Earnings / (Loss) Per Share (Rs.)		17.40	13.39	27.36

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	5.48	5.30	11.30
Net Profit Margin (PBT/Sales)	(%)	8.15	8.69	14.57
Return on Total Assets (PBT/Total Assets}	(%)	7.92	7.54	15.24
Return on Investment (ROI) (PBT/Networth)		0.15	0.14	0.23
Debt Equity Ratio (Total Debt/Networth)		0.24	0.24	0.07
Current Ratio (Current Asset/Current Liability)		1.94	1.47	2.08

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	93.610	93.607	93.607
Reserves & Surplus	6887.350	7350.777	7838.744
Net worth	6980.960	7444.384	7932.351
long-term borrowings	456.000	1479.130	1903.626
Short term borrowings	63.270	312.979	20.885
Total borrowings	519.270	1792.109	1924.511
Debt/Equity ratio	0.074	0.241	0.243

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Income	11044.440	11612.526	14524.854
		5.144	25.079

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Income	11044.440	11612.526	14524.854
Profit	1280.580	626.639	814.344
	11.59%	5.40%	5.61%

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	Yes
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	10335353	07/02/2012	1,000,000,000.00	CITIBANK N.A.	14, VALMIK COMPLEX, NEAR PARIMAL GARDEN, AMBAWADI, AHMEDABAD - 380006, GUJARAT, INDIA	B32027724
2	10261400	15/12/2010	455,000,000.00	STANDARD CHARTERED BANK	ABHIJEET II, MITHAKALI SIX ROAD, AHMEDABAD - 380006, GUJARAT, INDIA	B03356250
3	10208319	30/01/2012 *	450,000,000.00	STANDARD CHARTERED BANK	ABHIJEET II, MITHAKALI SIX ROAD, AHMEDABAD - 380006, GUJARAT, INDIA	B60828027
4	90229643	17/06/2009 *	350,000,000.00	CITIBANK N.A.	BANDRA KURLA COMPLEX, G-BLOCK, BANDRA EAST, MUMBAI - 400051, MAHARASHTRA, INDIA	A64034424
5	90231935	16/10/1999 *	80,000,000.00	BANQUE NATIONALE DE PARIS	FRENCH BANK BUILDING 62 HOMJI STREET, MUMBAI - 400001, MAHARASHTRA, INDIA	-
6	90235689	21/07/2006 *	80,000,000.00	BNP PARIBAS	FRENCH BANK BUILDING, 62, HOMJI STREET, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	-
7	90227901	05/02/1991 *	5,500,000.00	BANQUE NATIONALE DE PARIS	62 HOMJI STREET, MUMBAI - 400001, MAHARASHTRA, INDIA	-

* Date of charge modification

Note:

The registered office of the company has been shifted from 74, A Wing, Mittal Court, Nariman Point, Mumbai – 400 021, Maharashtra, India to the present address w.e.f. 15.10.2012.

POWER GENERATORS BUSINESS:

The power generating set business recorded gross revenue of Rs.15069.180 millions in 2012-2013 as compared to Rs.12065.940 millions in 2011-2012. This healthy growth of 24.89% was result of managements focus on cost improvement, logistics optimization, healthy marketing investments and improvement in distribution efficiencies.

Company’s new manufacturing facility at Village Madap, Khalapur, District Raigad of diesel generating sets and acoustics will also go functional in the current year, enabling the Company to scale up its production and sales from current year onwards. Progressively, this unit will also become a significant contributor to the sales and profitability of the Company.

Service Division at Chennai, Pondicherry, Mumbai and parts of western Maharashtra achieved a total business of Rs.1079.470 millions (previous year Rs.839.400 millions). Major contributing factors for enhanced performance of Service Division across geographies and various sectors of the economy were Company’s customer-centric approach, cost reduction efforts, focus on timely delivery, and the vigor in following strong internal processes.

ELECTRICITY GENERATION FROM WIND TURBINE GENERATORS BUSINESS:

There has been an increased focus on renewable sources of energy in the recent years in India. The Company has an installed capacity of 76.35 MW in Gujarat and 26.4 MW in Tamil Nadu as on March 31, 2013.

This segment generated revenue of Rs.867.610 millions in the financial year ended on March 31, 2013, excluding profit of Rs.83.060 millions on unwinding of Foreign Exchange derivative instrument.

Company has some more wind power projects in pipeline in the States of Maharashtra and Gujarat as on the date of Report with total estimated capital expenditure of Rs.4500.000 millions. All these projects are expected to be installed and commissioned before September 30, 2014. Company is expected to achieve total capacity of 174.75 MW by September 30, 2014 in this business.

CLEAN DEVELOPMENT MECHANISM:

In the year under review, Company has entered into an agreement with Asian Development Bank for Sale of 1,50,000 CER generated from wind power projects .

Company’s two wind power projects in the state of Gujarat, having capacity of 21.6MW and 9.9MW were registered with UNFCCC (United Nations Framework Convention on Climate Change) for availing carbon benefits and as on the date of this Report, same has been granted. Further, Company has submitted its application for its wind power project of 25.2MW capacity in the state of Gujarat to UNFCCC (United Nations Framework Convention on Climate Change) for carbon benefits which is under process.

OUTLOOK:

The Company is well on track to becoming a major power solution Company for all sectors of the economy. Company will continue its drive of an aggressive growth strategy and identify opportunities that will help it further fortify its competitive position, in gen set industry.

Company’s Wind Division is also on the path of growth with the proposed setting of wind power projects in the States of Maharashtra and Gujarat in the financial year 2013-2014.

CONTINGENT LIABILITIES:

Particulars	31.03.2013 (Rs. in millions)	31.03.2012 (Rs. in millions)
a) Stamp duty demands disputed pending in appeal	5.850	5.850
b) Bank Letter of Credit outstanding at the year end	275.950	1114.170
c) Estimated amount of contracts remaining to be executed on capital account and not provided for, net of advances	66.390	4.690
d) Sales Tax demand disputed, contested in	7.170	9.020
appeal Amount paid there against and shown as Advances Recoverable	3.360	3.360
e) Service Tax demand disputed, contested in appeal	1.690	1.690
Amount paid there against and shown as Advances Recoverable	0.000	0.000
f) Excise Duty demand disputed, contested in appeal	1.970	2.850
Amount paid there against and shown as Advances Recoverable	0.590	0.000
g) Income Tax demand disputed, contested in appeal	3.330	0.000
Amount paid there against and shown as Advances Recoverable	0.000	0.000
h) Claims against the Company not acknowledged as debt	2.370	2.040

FIXED ASSETS:

Tangible Assets

Land

Buildings

Office Building

Plant and Equipment

Other plant and Equipment

Furniture and Fixtures

Vehicles

Office Equipment

Computer Equipments

Other Equipments

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.62.12
UK Pound	1	Rs.103.93
Euro	1	Rs.85.17

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	SMN

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	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--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		62

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.