MIRA INFORM REPORT

Report Date :

07.07.2014

IDENTIFICATION DETAILS

Name :	G.E.T. WATER SOLUTIONS PRIVATE LIMITED
Registered Office :	1/134, Dhanakoti Raja Street, Sundar Nagar, Ekkaduthangal, Chennai – 600032, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	03.07.2000
Com. Reg. No.:	18-045303
Capital Investment / Paid-up Capital :	Rs.89.500 Millions
CIN No.: [Company Identification No.]	U74140TN2000PTC045303
Legal Form :	Private Limited Liability Company
Line of Business :	Subject markets, supplies, and services Water treatment Plant, waste water effluent / Sewage treatment Plant, components, accessories, consumables and allied products.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct. The company can be considered normal 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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

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 – COOEPRATIVE (91-44-30682963)

LOCATIONS

Registered Office / Head Office:	1/134, Dhanakoti Raja Street, Sundar Nagar, Ekkaduthangal, Chennai – 600032, Tamilnadu, India
Tel. No.:	91-44-30682968/30682999/30385555
Fax No.:	91-44-30682965
E-Mail :	latha@getwaters.com info@getwater.com
Branch Office:	Located at · Coimbatore · Cochin · Bangalore · Hyderabad · Pune · Mumbai

DIRECTORS

As on 20.08.2013

Name :

Mr. Joseph Mathew

Designation :

Director

Date of Appointment :

03.07.2000

DIN No.:

00431122

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	U74140TN2000PTC045303	G.E.T. WATER SOLUTIONS PRIVATE LIMITED	Director	03/07/2000	03/07/2000	-	Active	NO
2	U51395TN2000PTC045394	BI MARKETING AND SERVICES PRIVATE LIMITED	Director	15/02/2001	15/02/2001	-	Active	NO
3	U28939TN2004PTC053558	BI SYSTEMS PRIVATE LIMITED	Director	24/06/2004	24/06/2004	-	Active	NO
4	U74999TN2007PTC063584	ECOFIL TECHNOLOGIES INDIA PRIVATE LIMITED	Director	21/05/2007	21/05/2007	26/07/2013	Active	NO
5	U93000TN2008PTC068597	ECO SERVICES INDIA PRIVATE LIMITED	Director	17/07/2008	17/07/2008	-	Active	NO
6	U74900TN2011PTC080495	LIBRA WASTE MANAGEMENT PRIVATE LIMITED	Director	06/05/2011	06/05/2011	-	Active	NO
7	U74900TN2011PTC080598	ECOTECH WASTE MANAGEMENT PRIVATE LIMITED	Director	12/05/2011	12/05/2011	-	Active	NO
8	U74120MH2011PTC220114	NAVI MUMBAI WASTE PROCESSING COMPANY PRIVATE LIMITED	Director	25/07/2011	25/07/2011	-	Active	NO

Name :

Mr. Kamalasekaran Elango

Designation :

Director

Date of Appointment :

03.07.2000

DIN No.:

00926418

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	U74140TN2000PTC045303	G.E.T. WATER SOLUTIONS PRIVATE LIMITED	Director	03/07/2000	03/07/2000	-	Active	NO
2	U51395TN2000PTC045394	BI MARKETING AND SERVICES PRIVATE LIMITED	Director	18/07/2000	18/07/2000	-	Active	NO
3	U85110TN2003PTC051298	BIOMINES RESEARCH SOLUTIONS PRIVATE LIMITED	Director	29/07/2003	29/07/2003	-	Strike off	NO
4	U32109TN2004PTC054840	SMARTRONICS SOLUTIONS INDIA PRIVATE LIMITED	Director	07/12/2004	07/12/2004	-	Active	YES
5	U74999TN2007PTC063584	ECOFIL TECHNOLOGIES INDIA PRIVATE LIMITED	Director	21/05/2007	21/05/2007	19/07/2011	Active	NO
6	U93000TN2008PTC068597	ECO SERVICES INDIA PRIVATE LIMITED	Director	17/07/2008	17/07/2008	-	Active	NO

Name :

Mr. Cyril Christanand Gubbi

Designation :

Director

Date of Appointment :

01.11.2003

DIN No.:

02207869

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	U74140TN2000PTC045303	G.E.T. WATER SOLUTIONS PRIVATE LIMITED	Director	01/11/2003	01/11/2003	-	Active	NO
2	U74999TN2007PTC063584	ECOFIL TECHNOLOGIES INDIA PRIVATE LIMITED	Director	02/11/2008	02/11/2008	26/07/2013	Active	NO

Name :

Mr. Karthik Balachandran Athreya

Designation :

Director

Address :

502, 5^th Floor, Gayatri Apartmetns, 87 Road No. 3, Hindu Colony, Dadar (East), Mumbai – 400014, Maharashtra, India

Date of Birth/Age :

29.04.1974

Date of Appointment :

14.05.2010

DIN No.:

01797014

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	U28112HR2007PLC036852	MAP SPRINGS LIMITED	Nominee director	18/10/2007	18/10/2007	-	Amalgamated	NO
2	L51109UP1972PLC003544	ALPS INDUSTRIES LIMITED	Director	27/09/2008	25/10/2007	15/06/2009	Active	NO
3	U29244GA2003PTC003328	MODEL INFRA CORPORATION PRIVATE LIMITED	Additional director	26/10/2007	26/10/2007	08/03/2013	Active	NO
4	U55101MH2007PTC170188	ORCHID HOTELS PUNE PRIVATE LIMITED	Director	29/11/2007	29/11/2007	18/05/2009	Active	NO
5	L28100MH1968PLC014156	ORICON ENTERPRISES LIMITED	Director	29/01/2008	29/01/2008	-	Active	NO
6	U67190TN2008PTC067399	VALHERU CAPITAL ADVISORS PRIVATE LIMITED	Director	17/04/2008	17/04/2008	-	Active	NO
7	U65993MH2004PTC144260	CLEARWATER CAPITAL PARTNERS INDIA PRIVATE LIMITED	Director	29/09/2009	03/04/2009	-	Active	NO
8	U72900MH1999PTC118188	PACIFIC INTERNET INDIA PRIVATE LIMITED	Director	30/09/2009	03/06/2009	24/10/2011	Active	NO
9	U22219MH1991PLC060717	MULTI-FLEX LAMI-PRINT LIMITED	Nominee director	20/08/2009	20/08/2009	13/07/2010	Active	NO
10	U74999MH1996PTC099716	AIREFF DETOX PRIVATE LIMITED	Director	17/09/2009	11/09/2009	-	Active	NO
11	U74140TN2000PTC045303	G.E.T. WATER SOLUTIONS PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
12	U74140MH2001PLC133051	HYDROAIR TECTONICS (PCD) LIMITED	Nominee director	08/01/2011	08/01/2011	16/04/2011	Active	NO
13	L11101MH1979PLC021302	DOLPHIN OFFSHORE ENTERPRISES (INDIA) LIMITED	Alternate director	19/10/2011	19/10/2011	30/04/2014	Active	NO
14	L35911HR1965PLC004485	JAMNA AUTO INDUSTRIES LIMITED	Alternate director	20/02/2012	20/02/2012	-	Active	NO
15	L31300GJ1992PLC018198	DIAMOND POWER INFRASTRUCTURE LIMITED	Nominee director	03/04/2012	03/04/2012	-	Active	NO
16	L51100GJ1982PLC005131	SAYAJI HOTELS LIMITED	Nominee director	08/05/2012	08/05/2012	05/02/2013	Active	NO
17	U74120MH2013PTC241171	CLEARWATER INVESTMENT ADVISORS INDIA PRIVATE LIMITED	Director	20/03/2013	20/03/2013	-	Active	NO
18	AAB-1184	HD VENTURES LLP	Designated Partner	13/09/2012	13/09/2012	-	Active	NO

Name :

Mr. Amit Asharatan Pachisia

Designation :

Director

Address :

11, Dream Queen, V. P. Road, Santacruz (West), Mumbai – 400054, Maharashtra

India

Date of Birth/Age :

06.01.1979

Date of Appointment :

14.05.2010

DIN No.:

02600012

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	U22219MH1991PLC060717	MULTI-FLEX LAMI-PRINT LIMITED	Nominee director	20/08/2009	20/08/2009	27/11/2009	Active	NO
2	U74999MH1996PTC099716	AIREFF DETOX PRIVATE LIMITED	Director	17/09/2009	11/09/2009	-	Active	NO
3	U74140TN2000PTC045303	G.E.T. WATER SOLUTIONS PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
4	U74140MH2001PLC133051	HYDROAIR TECTONICS (PCD) LIMITED	Nominee director	08/01/2011	08/01/2011	16/04/2011	Active	NO
5	U90001MH2011PTC213833	HYDROAIR INFRASTRUCTURE MANAGEMENT (NORTH) PRIVATE LIMITED	Director	21/02/2011	21/02/2011	14/03/2012	Active	NO
6	U90001MH2011PTC213832	HYDROAIR INFRASTRUCTURE MANAGEMENT (SOUTH) PRIVATE LIMITED	Director	21/02/2011	21/02/2011	14/03/2012	Active	NO
7	U90000MH2011PTC213841	HYDROAIR INFRASTRUCTURE MANAGEMENT (WEST) PRIVATE LIMITED	Director	21/02/2011	21/02/2011	14/03/2012	Active	NO
8	U74999TN2007PTC063584	ECOFIL TECHNOLOGIES INDIA PRIVATE LIMITED	Director	13/07/2011	13/07/2011	-	Active	NO
9	U29244GA2003PTC003328	MODEL INFRA CORPORATION PRIVATE LIMITED	Director	30/09/2013	14/03/2013	-	Active	NO

Name :

Mr. Mrinal Ramesh Chandran

Designation :

Director

Address :

Flat No.-F-704, Lloyds Estate, 7th Floor,

Salt Pan Road, Wadala (East) Mumbai – 400037, Maharashtra, India

Date of Birth/Age :

15.12.1976

Date of Appointment :

14.05.2010

DIN No.:

02578553

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	U22219MH1991PLC060717	MULTI-FLEX LAMI-PRINT LIMITED	Nominee director	20/08/2009	20/08/2009	02/01/2013	Active	NO
2	U74999MH1996PTC099716	AIREFF DETOX PRIVATE LIMITED	Director	17/09/2009	11/09/2009	-	Active	NO
3	U74140TN2000PTC045303	G.E.T. WATER SOLUTIONS PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 20.08.2013

Names of Shareholders	No. of Shares
Kamalasekaran Elango	91600
Joseph Mathew	66800
Cyril Christanand Gubbi	67000
A Chandra Mohan	2000
Vidyavathsal Annapragada	6000
Sushila Joseph	31000
Manjula Chandramohan	29000
P Kalaiselvan	6930
Asia Enviro Holding Pte Limited	5788070
Asia Enviro Holding II Pte Limited	2861594
Total	8949994

Equity Share Break up (Percentage of Total Equity)

As on 20.08.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	96.00
Directors or relatives of Directors	4.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject markets, supplies, and services Water treatment Plant, waste water effluent / Sewage treatment Plant, components, accessories, consumables and allied products.

Products :

Item Code No.	Product Description
84138130	pumps

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

· Indian Bank, Vadapalani Branch, Vadapalani, Chennai - 600026, Tamil Nadu, India

· Axis Bank Limited, Corporate Banking Branch, Karumuthu Nilayam, No.192, Anna Salai, Chennai - 600002, Tamil Nadu, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	0.172	1.053
Total	0.172	1.053

Banking Relations :	--
Auditors :
Name :	Thomas (VM) and Company Chartered Accountants
Address :	4,Old No 59, Josier St, Nungambakkam, Chennai - 34, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFT4020D
Holding Company:	· Asia Enviro Holdings Private Limited
Investing Company:	· Asia Enviro Holdings II Private Limited
Subsidiary Company:	· BI Marketing and Services Private Limited, India [U51395TN2000PTC045394]
Fellow Subsidiary:	· Ecofil Technologies India Private Limited, India [U74999TN2007PTC063584]
Associate:	· HydroairTechtonics (PCD) Limited, India [U74140MH2001PLC133051] · Eco Services India Private Limited, India [U93000TN2008PTC068597]

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- each	Rs. 90.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
894994	Equity Shares	Rs.10/- each	Rs. 89.500 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	89.500	75.084	15.017
(b) Reserves & Surplus	279.751	214.610	10.164
(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)	369.251	289.694	25.181
(3) Non-Current Liabilities
(a) long-term borrowings	2.856	5.413	4.360
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	4.267	4.268	4.268
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	7.123	9.681	8.628
(4) Current Liabilities
(a) Short term borrowings	57.748	38.355	144.180
(b) Trade payables	103.344	52.696	7.729
(c) Other current liabilities	12.932	15.323	5.738
(d) Short-term provisions	2.000	0.051	0.000
Total Current Liabilities (4)	176.024	106.425	157.647
TOTAL	552.398	405.800	191.456
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10.153	11.325	9.365
(ii) Intangible Assets	0.511	0.834	0.757
(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	84.763	74.763	12.263
(c) Deferred tax assets (net)	0.483	0.390	0.313
(d) Long-term Loan and Advances	115.486	128.189	6.450
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	211.396	215.501	29.148
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	11.137	9.762	9.376
(c) Trade receivables	238.946	127.713	30.105
(d) Cash and cash equivalents	81.883	11.737	59.629
(e) Short-term loans and advances	9.036	41.087	63.198
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	341.002	190.299	162.308
TOTAL	552.398	405.800	191.456

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Turnover	384.558	330.831	135.802
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES
	Cost of Materials Consumed
	Purchases of Stock-in-Trade
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade
	Employees benefits expense
	Other expenses
	TOTAL	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	23.462	16.593	(10.507)
Less/ Add	DEPRECIATION/ AMORTISATION	1.999	2.157	1.483
	PROFIT/ (LOSS) BEFORE TAX	21.463	14.436	(11.990)
Less	TAX	1.906	(0.077)	(0.165)
	PROFIT/ (LOSS) AFTER TAX	19.557	14.513	(11.825)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(36.740)	(51.253)	(39.428)
	Balance Carried to the B/S	(17.183)	(36.740)	(51.253)
	Earnings / (Loss) Per Share (Rs.)	21.85	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	5.09	4.39	(8.71)
Net Profit Margin (PBT/Sales)	(%)	5.58	4.36	(8.83)
Return on Total Assets (PBT/Total Assets}	(%)	4.59	4.37	(6.70)
Return on Investment (ROI) (PBT/Networth)		0.06	0.05	(0.48)
Debt Equity Ratio (Total Debt /Networth)		0.16	0.15	5.90
Current Ratio (Current Asset/Current Liability)		1.94	1.79	1.03

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	15.017	75.084	89.500
Reserves & Surplus	10.164	214.610	279.751
Net worth	25.181	289.694	369.251
long-term borrowings	4.360	5.413	2.856
Short term borrowings	144.180	38.355	57.748
Total borrowings	148.540	43.768	60.604
Debt/Equity ratio	5.899	0.151	0.164

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)
Turnover	135.802	330.831	384.558
		143.613	16.240

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	135.802	330.831	384.558
Profit	(11.825)	14.513	19.557
	-8.71%	4.39%	5.09%

LOCAL AGENCY FURTHER INFORMATION

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

WORKING RESULTS

During the year under report, the company achieved a turnover of Rs. 380.200 Millions and a net profit of Rs.21.400 Millions. The company is showing a strong progression after its turnaround last year.

CORPORATE INFORMATION

Subject is a private limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company markets, supplies, and services Water treatment Plant, waste water effluent / Sewage treatment Plant, components, accessories, consumables and allied products.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Loans and advances from others	2.683	4.360
Short-term borrowings
Working capital loans from banks	57.748	38.355
Total	60.431	42.715

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10380464	17/02/2014 *	230,000,000.00	AXIS BANK LIMITED	CORPORATE BANKING BRANCH, KARUMUTHU NILAYAM, NO.1 92, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	B98675903
2	10124054	08/11/2013 *	280,000,000.00	AXIS BANK LIMITED	CORPORATE BANKING BRANCH, GROUND FLOOR, KARUMUTHU NILAYAM, NO.192, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	B90679390

* Date of charge modification

FIXED ASSETS

Tangible assets

· Land

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer 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 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.59.79
UK Pound	1	Rs.102.66
Euro	1	Rs.81.32

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.