1. Summary Information

		Country	India
Company Name	GEA BGR Energy System India Limited	Principal Name 1	Mrs. Sasikala Raghupathy
Status	Satisfactory	Principal Name 2	Mr. Vellore Ranganathan Mahadevan
		Registration #	18-064141
Street Address	New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018, Tamilnadu, India
Established Date	28.06.2007	SIC Code	--
Telephone#	91-44-24326171/ 27900181/ 27948549	Business Style 1	Supplier
Fax #	91-44-24364656/ 27948249	Business Style 2	--
Homepage	http://www.bgrcorp.com	Product Name 1	Tube Cleaning System and Debris Filter on turnkey basis for Power and Desalination Plants worldwide
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.50,500,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors- 99.76% Other top fifty shareholders- 0.24%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	7 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (50)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	661,524,000	Current Liabilities	377,173,000
Inventories	223,080,000	Long-term Liabilities	143,022,000
Fixed Assets	49,726,000	Other Liabilities	89,409,000
Deferred Assets	0,000	Total Liabilities	609,604,000
Invest& other Assets	5,025,000	Retained Earnings	279,251,000
		Net Worth	329,751,000
Total Assets	939,355,000	Total Liab. & Equity	939,355,000
Total Assets (Previous Year)	964,405,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	1,024,581,000	Net Profit	103,380,000
Sales(Previous yr)	839,824,000	Net Profit(Prev.yr)	79,464,000

MIRA INFORM REPORT

Report Date :

20.06.2014

IDENTIFICATION DETAILS

Name :	GEA BGR ENERGY SYSTEM INDIA LIMITED
Registered Office :	New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	28.06.2007
Com. Reg. No.:	18-064141
Capital Investment / Paid-up Capital :	Rs. 50.500 Millions
CIN No.: [Company Identification No.]	U40105TN2007PLC064141
TAN No.: [Tax Deduction & Collection Account No.]	CHEG08678F
PAN No.: [Permanent Account No.]	AACCG8823E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Supplier of Tube Cleaning System and Debris Filter on turnkey basis for Power and Desalination Plants worldwide
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 1310000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflects leadership position of the company in the domestic market of tube cleaning systems supported by its reputed customer profile and decent profitability levels of the company. 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 condition.

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.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term fund based : BBB
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk.
Date	January 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 DENIED BY

Name :	Mr. Durai
Designation :	Office Executive
Contact No.:	91-44-24326152
Date :	18.06.2014

LOCATIONS

Registered Office :	New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018, Tamilnadu
Tel. No.:	91-44-24326171/ 27900181/ 27948549
Fax No.:	91-44-24364656/ 27948249
E-Mail :	compliance@bgrenergy.com bgrcorp@vsnl.com ed@geabgrenery.com
Website :	http://www.bgrcorp.com
Corporate Office :	443 Anna Salai Teynampet, Chennai – 600018, Tamilnadu, India
Tel. No.:	91-44-24335958/ 24333412
Fax No.:	91-44-24343374
Factory :	A-5, Pannamgadu Industrial Estate, Ramapuram Post, Sulurpet Taluk, Nellore District – 524401, Andhra Pradesh, India

DIRECTORS

As on:28.09.2013

Name :

Mrs. Sasikala Raghupathy

Designation :

Director

Address :

60 (Old No. 100), Abhiramapruam, IV Street, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

14.05.1956

Date of Appointment :

28.06.2007

DIN No.:

00490686

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	L40106AP1985PLC005318	BGR ENERGY SYSTEMS LIMITED	DIRECTOR	20-08-85	20-08-85	-	ACTIVE	NO
2	U51103TN1991PTC020534	BOWN GRANITES COMPANY PRIVATE LIMITED	DIRECTOR	25-03-91	25-03-91	02-07-07	ACTIVE	NO
3	U05005AP1992PLC040434	BGR AQUAATECH INDIA LIMITED	DIRECTOR	22-09-92	22-09-92	-	ACTIVE	NO
4	U70101TN1993PTC025438	SASIKALA ESTATE PRIVATE LIMITED	DIRECTOR	14-07-93	14-07-93	-	ACTIVE	NO
5	U29141TN1994PLC026639	PROGEN SYSTEMS AND TECHNOLOGIES LIMITED	DIRECTOR	27-01-94	27-01-94	08-02-13	ACTIVE	NO
6	U65991TN1994PTC027177	VANI SECURITIES PRIVATE LIMITED	DIRECTOR	30-03-94	30-03-94	-	AMALGAMATED	NO
7	U65991TN1994PLC027174	BGR INVESTMENT HOLDINGS COMPANY LIMITED	DIRECTOR	30-03-94	30-03-94	-	ACTIVE	NO
8	U65991TN1994PTC027175	PRIYA SECURITIES PRIVATE LIMITED	DIRECTOR	30-03-94	30-03-94	-	AMALGAMATED	NO
9	U65991TN1994PTC027176	ARJUN SECURITIES PRIVATE LIMITED	DIRECTOR	30-03-94	30-03-94	-	AMALGAMATED	NO
10	U92199GA1996PTC002186	GOA OCEANARIUM PRIVATE LIMITED	DIRECTOR	05-09-98	05-09-98	02-07-07	ACTIVE	NO
11	U40101TN1999PLC041895	ERODE POWER CORPORATION LIMITED	DIRECTOR	15-02-99	15-02-99	02-07-07	STRIKE OFF	NO
12	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	DIRECTOR	15-02-99	15-02-99	-	ACTIVE	NO
13	U40101TN1999PLC041896	BGR POWER LIMITED	DIRECTOR	15-02-99	15-02-99	-	ACTIVE	NO
14	U93090TN1995PLC030467	MEGA FUNDS INDIA LIMITED	DIRECTOR	21-06-04	21-06-04	-	ACTIVE	NO
15	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	DIRECTOR	28-06-07	28-06-07	-	ACTIVE	NO
16	U40300TN2009PTC070541	BGR TURBINES COMPANY PRIVATE LIMITED	DIRECTOR	23-01-09	23-01-09	-	ACTIVE	NO
17	U31100TN2009PLC070540	BGR POWER MACHINES LIMITED	DIRECTOR	23-01-09	23-01-09	-	STRIKE OFF	NO
18	U74200TN2009PTC070539	BGR BOILERS PRIVATE LIMITED	DIRECTOR	23-01-09	23-01-09	-	ACTIVE	NO
19	U70109TN2006PTC061619	MENMAI ESTATE PRIVATE LIMITED	DIRECTOR	29-09-10	02-04-10	-	ACTIVE	NO
20	U40102TN2010PLC077392	BGR ODISHA POWERGEN LIMITED	DIRECTOR	20-09-10	20-09-10	-	ACTIVE	NO
21	U45200TN2006PTC061692	ACCORD FOUNDATIONS PRIVATE LIMITED	DIRECTOR	30-09-11	15-12-10	-	ACTIVE	NO
22	U40106TN2011PTC080318	BGR FLAGSOL SOLAR POWER INDIA PRIVATE LIMITED	DIRECTOR	26-04-11	26-04-11	08-02-13	ACTIVE	NO
23	U65910TN2011PLC080324	BGR FINANCE AND CAPITAL INDIA LIMITED	DIRECTOR	26-04-11	26-04-11	-	ACTIVE	NO
24	U70100TN2011PLC080323	BGR ESTATE HOLDINGS LIMITED	DIRECTOR	26-04-11	26-04-11	-	ACTIVE	NO
25	U70109TN2012PTC085532	VAANI ESTATES PRIVATE LIMITED	DIRECTOR	20-04-12	20-04-12	-	ACTIVE	NO
26	U70200TN2012PTC088071	ARJUN GOVIN ESTATE PRIVATE LIMITED	DIRECTOR	15-10-12	15-10-12	-	ACTIVE	NO
27	U70200TN2002PLC049497	SRAVANAA PROPERTIES LIMITED	DIRECTOR	02-11-12	02-11-12	-	ACTIVE	NO
28	U70200TN2014PTC094599	PRIYA ESTATE DEVELOPERS PRIVATE LIMITED	DIRECTOR	16-01-14	16-01-14	-	ACTIVE	NO

Name :

Mr. Vellore Ranganathan Mahadevan

Designation :

Director

Address :

A5, Shanti Haven, No.128, St. Mary’s Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

15.05.1959

Date of Appointment :

30.10.2008

DIN No.:

00174667

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	U72300TN1997PTC038980	PRAGATI INFORMATION TECHNOLOGIES PRIVATE LIMITED	DIRECTOR	09-09-97	09-09-97	-	STRIKE OFF	NO
2	U92199GA1996PTC002186	GOA OCEANARIUM PRIVATE LIMITED	DIRECTOR	05-09-98	05-09-98	-	ACTIVE	NO
3	U30009PY1986PLC000437	PRAGATI COMPUTERS LIMITED	DIRECTOR	18-07-99	18-07-99	-	ACTIVE	NO
4	U25199TN1999PTC042481	SCHMITZ INDIA PRIVATE LIMITED	DIRECTOR	06-03-00	06-03-00	-	ACTIVE	NO
5	U45201TN1996PLC036430	GOVIN ENGINEERING AND CONSTRUCTIONS LIMITED	DIRECTOR	04-08-03	04-08-03	-	ACTIVE	NO
6	L40106AP1985PLC005318	BGR ENERGY SYSTEMS LIMITED	MANAGING DIRECTOR	25-09-13	01-06-05	-	ACTIVE	NO
7	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	DIRECTOR	30-10-08	01-08-07	-	ACTIVE	NO
8	U31100TN2009PLC070540	BGR POWER MACHINES LIMITED	DIRECTOR	23-01-09	23-01-09	-	STRIKE OFF	NO
9	U74999TN1997PTC038530	GERMANISCHER LLOYD INDUSTRIAL SERVICES INDIA PRIVATE LIMITED	DIRECTOR	10-07-09	10-07-09	-	ACTIVE	NO
10	U74200TN2009PTC070539	BGR BOILERS PRIVATE LIMITED	DIRECTOR	05-09-11	07-10-10	-	ACTIVE	NO

Name :

Mrs. Swarnamugi Karthik

Designation :

Director

Address :

No. 4/17, Shobana Apartments, 3^rd Floor, Bishop Wallers Avenue, West CIT Colony, Mylapore, Chennai – 600004, Tamilnadu, India

Date of Birth/Age :

13.09.1981

Date of Appointment :

08.02.2013

DIN No.:

03494012

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	U70200TN2002PLC049497	SRAVANAA PROPERTIES LIMITED	DIRECTOR	02-11-12	02-11-12	-	ACTIVE	NO
2	U65991TN1994PLC027174	BGR INVESTMENT HOLDINGS COMPANY LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
3	U70100TN2011PLC080323	BGR ESTATE HOLDINGS LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
4	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
5	U40101TN1999PLC041896	BGR POWER LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
6	U29141TN1994PLC026639	PROGEN SYSTEMS AND TECHNOLOGIES LIMITED	DIRECTOR	25-09-13	08-02-13	-	ACTIVE	NO
7	U40102TN2010PLC077392	BGR ODISHA POWERGEN LIMITED	DIRECTOR	27-09-13	08-02-13	-	ACTIVE	NO
8	U45200TN2006PTC061692	ACCORD FOUNDATIONS PRIVATE LIMITED	DIRECTOR	28-09-13	08-02-13	-	ACTIVE	NO
9	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	DIRECTOR	30-09-13	08-02-13	-	ACTIVE	NO
10	U45207TN1993PLC026243	CUDDALORE POWERGEN CORPORATION LIMITED	DIRECTOR	27-09-13	08-02-13	-	ACTIVE	NO
11	U40106TN2011PTC080318	BGR FLAGSOL SOLAR POWER INDIA PRIVATE LIMITED	DIRECTOR	26-09-13	08-02-13	-	ACTIVE	NO
12	L40106AP1985PLC005318	BGR ENERGY SYSTEMS LIMITED	WHOLE-TIME DIRECTOR	25-09-13	08-02-13	-	ACTIVE	NO
13	U65991TN1994PTC027177	VANI SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
14	U65991TN1994PTC027175	PRIYA SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
15	U65991TN1994PTC027176	ARJUN SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
16	U29191TN1996PTC035263	GEA COOLING TOWER TECHNOLOGIES (INDIA) PRIVATE LIMITED	MANAGING DIRECTOR	23-09-13	23-09-13	-	ACTIVE	NO

Name :

Mrs. Priyadarshini Raghupathy

Designation :

Director

Address :

60 (Old No. 100), Abhiramapruam, IV Street, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

16.06.1984

Date of Appointment :

08.02.2013

DIN No.:

03289747

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	U40300TN2009PTC070541	BGR TURBINES COMPANY PRIVATE LIMITED	DIRECTOR	08-09-11	30-09-10	-	ACTIVE	NO
2	U70100TN2011PLC080323	BGR ESTATE HOLDINGS LIMITED	DIRECTOR	26-04-11	26-04-11	-	ACTIVE	NO
3	U65991TN1994PLC027174	BGR INVESTMENT HOLDINGS COMPANY LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
4	U65910TN2011PLC080324	BGR FINANCE AND CAPITAL INDIA LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
5	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
6	U40101TN1999PLC041896	BGR POWER LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
7	U40106TN2011PTC080318	BGR FLAGSOL SOLAR POWER INDIA PRIVATE LIMITED	DIRECTOR	26-09-13	08-02-13	-	ACTIVE	NO
8	U40102TN2010PLC077392	BGR ODISHA POWERGEN LIMITED	DIRECTOR	27-09-13	08-02-13	-	ACTIVE	NO
9	U05005AP1992PLC040434	BGR AQUAATECH INDIA LIMITED	DIRECTOR	25-09-13	08-02-13	-	ACTIVE	NO
10	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	DIRECTOR	30-09-13	08-02-13	-	ACTIVE	NO
11	U45207TN1993PLC026243	CUDDALORE POWERGEN CORPORATION LIMITED	DIRECTOR	27-09-13	08-02-13	-	ACTIVE	NO
12	U70200TN2002PLC049497	SRAVANAA PROPERTIES LIMITED	DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
13	U65991TN1994PTC027177	VANI SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
14	U65991TN1994PTC027175	PRIYA SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
15	U65991TN1994PTC027176	ARJUN SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
16	U74200TN2009PTC070539	BGR BOILERS PRIVATE LIMITED	NOMINEE DIRECTOR	30-09-13	30-09-13	-	ACTIVE	NO
17	U70200TN2014PTC094599	PRIYA ESTATE DEVELOPERS PRIVATE LIMITED	DIRECTOR	16-01-14	16-01-14	-	ACTIVE	NO

Name :

Ms. Vaani Raghupathy

Designation :

Director

Address :

60 (Old No. 100), Abhiramapruam, IV Street, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

16.02.1988

Date of Appointment :

08.02.2013

DIN No.:

03496190

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	U65991TN1994PLC027174	BGR INVESTMENT HOLDINGS COMPANY LIMITED	MANAGING DIRECTOR	03-12-13	05-04-11	-	ACTIVE	NO
2	U70100TN2011PLC080323	BGR ESTATE HOLDINGS LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
3	U65910TN2011PLC080324	BGR FINANCE AND CAPITAL INDIA LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
4	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
5	U70109TN2012PTC085532	VAANI ESTATES PRIVATE LIMITED	DIRECTOR	30-09-13	08-02-13	-	ACTIVE	NO
6	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	DIRECTOR	30-09-13	08-02-13	-	ACTIVE	NO
7	U65991TN1994PTC027177	VANI SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
8	U65991TN1994PTC027175	PRIYA SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
9	U65991TN1994PTC027176	ARJUN SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
10	U93090TN1995PLC030467	MEGA FUNDS INDIA LIMITED	DIRECTOR	28-09-13	29-07-13	-	ACTIVE	NO
11	U05005AP1992PLC040434	BGR AQUAATECH INDIA LIMITED	DIRECTOR	25-09-13	29-07-13	-	ACTIVE	NO
12	U62100TN2011PLC080336	BGR AVIATION LIMITED	DIRECTOR	28-09-13	29-07-13	-	ACTIVE	NO
13	U25199TN1999PTC042481	SCHMITZ INDIA PRIVATE LIMITED	ADDITIONAL DIRECTOR	06-11-13	06-11-13	-	ACTIVE	NO

Name :

Mr. Arjun Govind Raghupathy

Designation :

Director

Address :

60 (Old No. 100), Abhiramapruam, IV Street, Chennai-600018, Tamilnadu, India

Date of Birth/Age :

26.12.1989

Date of Appointment :

08.02.2013

DIN No.:

02700864

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	U70109TN2006PTC061619	MENMAI ESTATE PRIVATE LIMITED	DIRECTOR	22-06-09	22-06-09	-	ACTIVE	NO
2	U70200TN2012PTC088071	ARJUN GOVIN ESTATE PRIVATE LIMITED	DIRECTOR	15-10-12	15-10-12	-	ACTIVE	NO
3	U70101TN1993PTC025438	SASIKALA ESTATE PRIVATE LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
4	U70100TN2011PLC080323	BGR ESTATE HOLDINGS LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
5	U40105TN2007PLC064141	GEA BGR ENERGY SYSTEM INDIA LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
6	U65991TN1994PLC027174	BGR INVESTMENT HOLDINGS COMPANY LIMITED	ADDITIONAL DIRECTOR	08-02-13	08-02-13	-	ACTIVE	NO
7	U93090TN1995PLC030467	MEGA FUNDS INDIA LIMITED	DIRECTOR	28-09-13	08-02-13	-	ACTIVE	NO
8	U45201TN1995PTC033737	ANI CONSTRUCTIONS PRIVATE LIMITED	DIRECTOR	30-09-13	08-02-13	-	ACTIVE	NO
9	U65991TN1994PTC027177	VANI SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
10	U65991TN1994PTC027175	PRIYA SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
11	U65991TN1994PTC027176	ARJUN SECURITIES PRIVATE LIMITED	DIRECTOR	28-09-13	15-06-13	-	AMALGAMATED	NO
12	U40300TN2009PTC070541	BGR TURBINES COMPANY PRIVATE LIMITED	DIRECTOR	20-09-13	19-09-13	-	ACTIVE	NO
13	U40102TN2010PLC077392	BGR ODISHA POWERGEN LIMITED	ADDITIONAL DIRECTOR	10-02-14	10-02-14	-	ACTIVE	NO

KEY EXECUTIVES

Name :	Mr. Durai
Designation :	Office Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2013

Names of Shareholders	No. of Shares
Saskikala Raghupathy	5014000
Swarnamugi Karthik	6000
A Swaminathan	6000
V R Mahadevan	6000
R Ramesh Kumar	6000
R Priyadarshini Raghupathy	6000
Vani Raghupathy	3000
Arjun Govind Raghupathy	3000
Total	5050000

As on: 28.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	99.76
Other top fifty shareholders	0.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Supplier of Tube Cleaning System and Debris Filter on turnkey basis for Power and Desalination Plants worldwide

Products :

Product Description	ITC Code
Axlry Plant, Used With Boilers of HDG	8404

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Settipalli Branch, Chittor District, Tirupati-517506, Andhra Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long term borrowing
Rupee term loans from others	0.655	2.610
Short term borrowing
Working capital loans from banks	0.867	60.009
Total	1.522	62.619

Banking Relations :	---
Auditors :
Name :	R V Chander and Associates Chartered Accountants
Address :	“Kalpataru”, No. 87, Santhome High Road, Chennai-600028, Tamilnadu, India
PAN No.:	AAFFR0931E
Related Parties :	· BGR Energy Systems Limited, India CIN No. U40106TN2011PTC080318 · Progen Systems and Technologies Limited, India CIN No. U29141TN1994PLC026639 · Schmitz India Private Limited, Indian CIN No. U25199TN1999PTC042481 · BGR Energy Systems Limited, India CIN No. L40106AP1985PLC005318 · Cuddalore PopwerGen Corporation Limited · Germanischer Lloyd Industrial Services India Private Limited · Sasikala Estate Private Limited · Mega Funds India Limited · GEA Cooling Tower Technologies (India) Private Limited · Vindiana Wines Private Limited CIN No. U15511TN2007PTC064007

CAPITAL STRUCTURE

As on: 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs. 60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5050000	Equity Shares	Rs.10/- each	Rs. 50.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	50.500	50.500
(b) Reserves & Surplus	279.251	0.061
(c) Money received against share warrants	0.000	187.610
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	329.751	238.171
(3) Non-Current Liabilities
(a) long-term borrowings	142.155	144.110
(b) Deferred tax liabilities (Net)	28.202	24.078
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	37.558	30.905
Total Non-current Liabilities (3)	207.915	199.093
(4) Current Liabilities
(a) Short term borrowings	0.867	60.009
(b) Trade payables	277.441	326.361
(c) Other current liabilities	99.732	106.003
(d) Short-term provisions	23.649	34.768
Total Current Liabilities (4)	401.689	527.141
TOTAL	939.355	964.405
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	48.265	40.028
(ii) Intangible Assets	1.461	1.474
(iii) Capital work-in-progress	4.925	13.764
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.100	0.100
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	6.941	6.603
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	61.692	61.969
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	223.080	246.529
(c) Trade receivables	561.385	578.268
(d) Cash and cash equivalents	66.938	54.928
(e) Short-term loans and advances	24.112	19.385
(f) Other current assets	2.148	3.326
Total Current Assets	877.663	902.436
TOTAL	939.355	964.405

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		50.500
2] Share Application Money		0.061
3] Reserves & Surplus		119.884
4] (Accumulated Losses)		0.000
NETWORTH		170.445
LOAN FUNDS
1] Secured Loans		88.514
2] Unsecured Loans		141.500
TOTAL BORROWING		230.014
DEFERRED TAX LIABILITIES		18.414
TOTAL		418.873
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.266
Capital work-in-progress		12.274
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	150.348
	Sundry Debtors	456.221
	Cash & Bank Balances	50.508
	Other Current Assets	1.956
	Loans & Advances	74.080
Total Current Assets		733.113
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	276.482
	Other Current Liabilities	0.000
	Provisions	77.298
Total Current Liabilities		353.780
Net Current Assets		379.333
MISCELLANEOUS EXPENSES		0.000
TOTAL		418.873

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013
	SALES
		Income	1024.581
		Other Income	3.571
		TOTAL (A)	1028.152
Less	EXPENSES
		Cost of Materials Consumed	603.229
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.695)
		Employees benefits expense	95.660
		Other expenses	137.396
		TOTAL (B)	835.590
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		192.562
Less	FINANCIAL EXPENSES (D)		33.648
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		158.914
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.250
	PROFIT BEFORE TAX (E-F) (G)		153.664
Less	TAX (H)		50.284
	PROFIT AFTER TAX (G-H) (I)		103.380
	Earnings Per Share (Rs.)		20.47

	PARTICULARS		31.03.2012	31.03.2011
	SALES
		Income (Turnover)	839.824	707.044
		Other Income	3.803	3.315
		TOTAL (A)	843.627	710.359
Less	EXPENSES
		Cost of Materials	482.371	400.661
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	1.075	--
		Employee benefit expense	84.938	--
		Other expenses	100.007	--
		Extraordinary items	8.640
		Cost of Manufacture	--	33.437
		Selling Expenses	--	29.221
		Increase/Decrease in Stock	--	(6.739)
		TOTAL (B)	677.031	575.463
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		166.596	134.896
Less	FINANCIAL EXPENSES (D)		36.028	27.025
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		130.568	107.871
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.556	2.821
	PROFIT BEFORE TAX (E-F) (G)		127.012	105.050
Less	TAX (I)		47.548	38.208
	PROFIT AFTER TAX (G-I) (J)		79.464	66.842
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	6.645
		Proposed Dividend	NA	10.100
		Corporate Dividend Tax	NA	1.716
	BALANCE CARRIED TO THE B/S		NA	48.381
	EARNINGS IN FOREIGN CURRENCY
		Sales	NA	233.369
		Services	NA	7.178
	TOTAL EARNINGS		NA	240.547
	IMPORTS
		Raw Materials, Components and Consumables	NA	55.904
	TOTAL IMPORTS		Na	55.904
	Earnings Per Share (Rs.)		15.74	13.24

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	10.05	9.41	9.41
Net Profit Margin (PBT/Sales)	(%)	15.00	15.12	14.86
Return on Total Assets (PBT/Total Assets}	(%)	16.45	13.37	13.82
Return on Investment (ROI) (PBT/Networth)		0.47	0.53	0.62
Debt Equity Ratio (Total Debt /Networth)		0.43	0.86	1.35
Current Ratio (Current Asset/Current Liability)		2.18	1.71	2.07

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	50.500	50.500
Reserves & Surplus	0.061	279.251
Money received against share warrants	187.61	0.000
Net worth	238.171	329.751
long-term borrowings	144.110	142.155
Short term borrowings	60.009	0.867
Total borrowings	204.119	143.022
Debt/Equity ratio	0.857	0.434

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	707.044	839.824	1024.581
		18.780	21.999

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	707.044	839.824	1024.581
Profit	66.842	79.464	103.380
	9.45%	9.46%	10.09%

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	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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10188565	27/06/2013 *	550,000,000.00	STATE BANK OF INDIA	SETTIPALLI BRANCH, RENIGUNTA ROAD, TIRUPATI, ANDH  RA PRADESH - 517506, INDIA	B82296302
2	10125002	27/06/2013 *	550,000,000.00	STATE BANK OF INDIA	SETTIPALLI BRANCH, RENIGUNTA ROAD, TIRUPATI, ANDH  RA PRADESH - 517506, INDIA	B82295544

* Date of charge modification

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
Short term borrowing
Loans and advance from related parties	141.500	141.500
Total	141.500	141.500

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Computers

· Office Equipments

· Electrical Installation

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.00
UK Pound	1	Rs.102.05
Euro	1	Rs.81.71

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	SBN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.