1. Summary Information

		Country	India
Company Name	AMARA RAJA BATTERIES LIMITED	Principal Name 1	Dr. Ramachandra N Galla
Status	Good	Principal Name 2	Mr. Jayadev Galla
		Registration #	01-005305
Street Address	Renigunta, Cuddapah Road, Karakambadi, Tirupati-517520, Andhra Pradesh, India
Established Date	13.02.1985	SIC Code	--
Telephone#	91-877-2285561 / 2265000	Business Style 1	Manufacture
Fax #	91-877-2285600 / 2286999	Business Style 2	--
Homepage	http://www.amararaja.co.in	Product Name 1	Lead-Acid Storage Batteries
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.170,810,000/-	Product Name 3	--
Shareholders	Shareholding of Promoter and Promoter Group – 52.06 Public shareholding - 47.94	Banking	State Bank of India
Public Limited Corp.	No	Business Period	29 Years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	A (64)
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	9,924,970,000	Current Liabilities	3,170,100,000
Inventories	2,928,580,000	Long-term Liabilities	871,760,000
Fixed Assets	3,588,660,000	Other Liabilities	3,064,700,000
Deferred Assets	0,000	Total Liabilities	7,106,560,000
Invest& other Assets	1,262,490,000	Retained Earnings	10,427,330,000
		Net Worth	10,598,140,000
Total Assets	17,704,700,000	Total Liab. & Equity	17,704,700,000
Total Assets (Previous Year)	13,515,170,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	29,613,960,000	Net Profit	2,867,050,000
Sales(Previous yr)	23,644,680,000	Net Profit(Prev.yr)	2,150,630,000

MIRA INFORM REPORT

Report Date :

23.06.2014

IDENTIFICATION DETAILS

Name :	AMARA RAJA BATTERIES LIMITED
Registered Office :	Renigunta, Cuddapah Road, Karakambadi, Tirupati-517520, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.02.1985
Com. Reg. No.:	01-005305
Capital Investment / Paid-up Capital :	Rs.170.810 millions
CIN No.: [Company Identification No.]	L31402AP1985PLC005305
TAN No.: [Tax Deduction & Collection Account No.]	HYDA02631G
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on Stock Exchanges.
Line of Business :	Subject is engaged in the business of manufacture and sale of lead-acid storage batteries.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

A (64)

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

Maximum Credit Limit :	USD 42393000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well-established and a reputed company having a fine track record. Financial position of the company is strong and healthy. Liquidity position appears to be good. Trade relations are fair. Business is active. Payment terms are regular. The company can be considered good 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = AA+
Rating Explanation	High degree of safety and carry very low credit risk.
Date	24.04.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A1+
Rating Explanation	Have very string degree of safety and carry lowest credit risk
Date	24.04.2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DENIED BY

Name :	Mr. Jay Kumar
Designation :	Accounts Department
Contact No.:	91-44-42910785
Date :	19.06.2014

LOCATIONS

Registered Office / Factory:	Renigunta, Cuddapah Road, Karakambadi, Tirupati-517520, Andhra Pradesh, India
Tel. No.:	91-877-2285561 / 2265000
Fax No.:	91-877-2285600 / 2286999
E-Mail :	ram@amararaja.co.in amararaja@amararaja.co.in amararaja@amartpt.gnmds.global.net.in tpt.amararaja@gnmds.globalnet.ems.vsnl.net.in prr@amararaja.co.in srg@amararaja.co.in usk@amararaja.co.in
Website :	http://www.amararaja.co.in
Corporate Office 1 :	Riaz Garden, # 12, K.H. Road Nungambakkam Chennai-600034, Tamil Nadu, India
Tel. No.:	91-44 -2821 3270
Fax No.:	91-44 -2828 4821
Corporate Office 2 :	5^th Floor, Astra Towers, 12P, Hi-tech City, Kondapur, Hyderabad-500038, Andhra Pradesh, India
Tel. No.:	91-40-23683000
Fax No.:	91-40-23118219
Email :	mktg@amararaja.co.in
Branch Office:	Located At: B-93A, Panchsheel Vihar, Near Triveni Commercial Complex, Sheikh Sarai Phase I, New Delhi – 110017, India Tel No.: 91-11-48235500 Fax No.: 91-11-48235566 · Hyderabad · Chandigarh · Ghaziabad · Jaipur · Lucknow · Ahmedabad · Patna · Ranchi · Guwahati · Indore · Vijayawada · Bhuvaneshwar · Bangalore · Kolkata · Chennai · Mumbai · Coimbatore · Cochin · Nagpur

DIRECTORS

As on 31.03.2013

Name :	Dr. Ramachandra N Galla
Designation :	Chairman
Date of Birth :	01.06.1938
Qualification:	M.E. (Applied Electronics) from Roorkee University, Uttar Pradesh. MS (Systems Sciences) from Michigan State University, USA
Name :	Mr. Jayadev Galla
Designation :	Managing Director
Name :	Mr. Ravi Bhamidipati
Designation :	Executive Director
Name :	Mr. Shu Qing Yang
Designation :	Director
Name :	Mr. Eric Stuart Mitchell (w.e.f April 18, 2013)
Designation :	Non-Executive Director
Name :	Craig W Rigby (upto April 18, 2013)
Designation :	Director
Name :	Mr. P. Lakshmana Rao
Designation :	Director
Name :	Mr. Nagarjun Valluripalli
Designation :	Director
Name :	Mr. N. Sri Vishnu Raju
Designation :	Director
Name :	T. R. Narayanaswamy
Designation :	Director
Name :	Raymond J Brown
Designation :	Director (w.e.f May 28, 2012)
Date of Birth :	28.08.1950
Qualification:	B.A. in Accounts and Finance from Pennsylvania State University.

KEY EXECUTIVES

Name :	Mr. N. Ramanathan
Designation :	Company Secretary
Management Team :
Name :	Mr. K. Suresh
Designation :	Chief Financial Officer
Industrial Battery Division :
Name :	Mr. Srinivasa Rao Ganga
Designation :	Chief Marketing Officer
Name :	Mr. M. M. Venkata Krishna
Designation :	Chief Operations Officer
Automotive Battery Division :
Name :	Mr. Rajesh Jindal
Designation :	Chief Marketing Officer
Name :	Mr. M. Jagadish
Designation :	Chief Operations Officer

SHAREHOLDING PATTERN

As on 31.03.2014

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	31974058	18.72
Bodies Corporate	3115500	1.82
Sub Total	35089558	20.54
(2) Foreign
Bodies Corporate	44411250	26.00
Any Others (Specify)	9426644	5.52
Directors/Promoters & their Relatives & Friends	9426644	5.52
Sub Total	53837894	31.52
Total shareholding of Promoter and Promoter Group (A)	88927452	52.06
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	19747031	11.56
Financial Institutions / Banks	33170	0.02
Foreign Institutional Investors	25655054	15.02
Sub Total	45435255	26.60
(2) Non-Institutions
Bodies Corporate	5038167	2.95
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Million	14301533	8.37
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million	5422235	3.17
Any Others (Specify)	11687858	6.84
Clearing Members	291000	0.17
Hindu Undivided Families	645909	0.38
Non Resident Indians	9498617	5.56
Trusts	305932	0.18
Foreign Nationals	400	0.00
Directors & their Relatives & Friends	33000	0.02
Any Other	913000	0.53
Sub Total	36449793	21.34
Total Public shareholding (B)	81885048	47.94
Total (A)+(B)	170812500	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	170812500	0.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacture and sale of lead-acid storage batteries.

Products :

Item Code No.	Product Description
850720.00	Storage Batteries - Maintenance Free Valve Regulated Lead Acid (MF - VRLA) Batteries
850710.00	Lead Acid Batteries used for Starting Piston Engines

Brand Names :

· AMARON®

· POWERZONETM

· POWER STACK®

· AMARONVOLTTM

· QUANTATM

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Storage batteries	Nos.	10070000	9505873	8188533

Note: The installed capacity represents the capacity as at March 31, 2011 and average installed capacity represents year weighted average capacity based on expansions carried out during the year. The capacities are as certified by the management

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

• State Bank of India, Settipalli, Tirupati, Andhra Pradesh, India
• Andhra Bank, Main Branch, Tirupati, Andhra Pradesh, India
• State Bank of Hyderabad, Main Branch, Tirupati, Andhra Pradesh, India
• Bank of Nova Scotia, Coimbatore, Tamilnadu, India

Facilities :

Secured Loans	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Loans repayable on demand
Cash credit from banks (Secured)
State Bank of India	98.630	16.730
State Bank of Hyderabad	0.000	39.310
Total	98.630	56.040

Note :

The working capital facilities from State Bank of India, State Bank of Hyderabad, Andhra Bank and The Bank of Nova Scotia are secured by hypothecation of all current assets of the Company. The fixed assets of the Company are provided as collateral security by way of second charge for the working capital facilities availed from State Bank of India.

Banking Relations :	--
Auditors 1:
Name :	E. Phalguna Kumar and Company Chartered Accountants
Address :	Tirupati, Andhra Pradesh, India
Auditors 2:
Name :	Chevuturi Associates Chartered Accountants
Address :	Vijayawada, Andhra Pradesh, India
Auditors 3:
Name :	A.V.N.S. Nageswara Rao Cost Accountants
Address :	Hyderabad, Andhra Pradesh, India
Investing party for which the Company is an Associate :	Johnson Controls (Mauritius) Private Limited
Enterprises over which key management personnel and / or their relatives exercise significant influence :	Amara Raja Power Systems Limited Amara Raja Electronics Limited Mangal Industries Limited Amara Raja Infra Private Limited Amara Raja Industrial Services Private Limited Rajanna Trust Mangamma and Gangulu Naidu Memorial Trust

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
200000000	Equity Shares	Re. 1/- each	Rs. 200.000 Millions

Issued Capital:

No. of Shares	Type	Value	Amount
175028500	Equity Shares	Re. 1/- each	Rs. 175.030 Millions

Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
170812500	Equity Shares	Re. 1/- each	Rs. 170.810 Millions

a) Reconciliation of number of shares outstanding at the beginning and end of the year

Particulars	No. of shares	Rs. In Millions
Shares outstanding at the beginning of the year	85406250	170.810
Add: Shares issued during the	-	-
Add: Sub-division of shares of Rs. 2 each into Re.1 each*	85406250	-
Add: Sub-division of shares of Rs. 2 each into Re.1 each*	-	-
Shares outstanding at the end of the year	170812500	170.810

*The Company has sub-divided the equity shares of face value of Rs. 2 each into two equity shares of face value of Re. 1 each on September 26, 2012.

b) Rights, preferences and restrictions attached to equity shares

The Company has one class of equity shares having a face value of Re. 1 each (previous year face value of Rs. 2 each). Each holder of equity share is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to approval of the shareholders in the Annual General Meeting, except in case of interim dividend. In the event of liquidation, the holders of equity share will be entitled to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

c) Details of shareholders holding more than 5% of share capital

Particulars	No. of shares held	% of holding
Dr Ramachandra N Galla	12795074	7.49
Sri Jayadev Galla	12821984	7.51
Johnson Controls (Mauritius) Private Limited, Mauritius	44411250	26.00

Note: The face value of shares held as at March 31, 2013 is Re. 1 each (Rs. 2 each as at March 31, 2012)

d) Aggregate number of bonus shares issued during the period of five years immediately preceding the reporting date

During the financial year 2008-09 the Company has allotted 28,468,750 equity shares as fully paid-up bonus shares by capitalising part of general reserve.

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	170.810	170.810	170.810
(b) Reserves & Surplus	10427.330	8063.880	6288.460
(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)	10598.140	8234.690	6459.270
(3) Non-Current Liabilities
(a) long-term borrowings	773.130	784.720	701.020
(b) Deferred tax liabilities (Net)	195.090	219.600	204.930
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	376.410	146.180	104.170
Total Non-current Liabilities (3)	1344.630	1150.500	1010.120
(4) Current Liabilities
(a) Short term borrowings	98.630	56.040	200.100
(b) Trade payables	1362.840	876.330	1053.790
(c) Other current liabilities	1807.260	1136.730	967.930
(d) Short-term provisions	2493.200	2060.880	1467.990
Total Current Liabilities (4)	5761.930	4129.980	3689.810
TOTAL	17704.700	13515.170	11159.200
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3554.970	3524.800	3132.810
(ii) Intangible Assets	33.690	20.920	18.060
(iii) Capital work-in-progress	1024.970	310.650	369.570
(iv) Intangible assets under development	4.840	4.580	5.840
(b) Non-current Investments	160.760	160.760	160.760
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	353.520	96.410	145.180
(e) Other Non-current assets	3.430	1.110	2.370
Total Non-Current Assets	5136.180	4119.230	3834.590
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2928.580	2666.170	2846.970
(c) Trade receivables	3806.770	3196.830	3056.620
(d) Cash and cash equivalents	4107.900	2291.900	451.180
(e) Short-term loans and advances	1656.780	1209.440	946.740
(f) Other current assets	68.490	31.600	23.100
Total Current Assets	12568.520	9395.940	7324.610
TOTAL	17704.700	13515.170	11159.200

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	29613.960	23644.680	17610.530
		Other Income	465.510	279.710	77.760
		TOTAL	30079.470	23924.390	17688.290
Less	EXPENSES
		Cost of materials consumed	17638.940	15132.080	11787.140
		Purchases of stock-in-trade	2632.540	840.020	74.140
		Changes in inventories of finished goods, work-in-process and stock-in-trade	(320.890)	98.150	(283.140)
		Employee benefits expense	1266.230	1002.640	884.590
		Other expenses	3882.010	3175.850	2574.040
		TOTAL	25098.830	20248.740	15036.770
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		4980.640	3675.650	2651.520
Less	FINANCIAL EXPENSES		9.980	24.470	30.580
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		4970.660	3651.180	2620.940
Less/ Add	DEPRECIATION/ AMORTISATION		660.920	464.730	417.120
	PROFIT BEFORE EXCEPTIONAL ITEM AND TAX		4309.740	3186.450	2203.820
Less	EXCEPTIONAL ITEM		91.570	0.000	0.000
	PROFIT BEFORE TAX		4218.170	3186.450	2203.820
Less	TAX		1351.120	1035.820	722.860
	PROFIT AFTER TAX		2867.050	2150.630	1480.960
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6221.450	4661.090	3786.340
Less	APPROPRIATIONS
		Transfer to General Reserve	286.710	215.000	148.090
		Proposed Dividend	430.450	322.840	222.060
		Interim Dividend	0.000	0.000	170.810
		Tax on Dividend	73.150	52.370	65.250
	BALANCE CARRIED TO THE B/S		8298.190	6221.450	4661.090
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1016.000	1170.000	834.000
	TOTAL EARNINGS		1016.000	1170.000	834.000
	IMPORTS
		Capital Goods	346.440	318.360	206.090
		Finished Goods	6781.520	6818.430	9.630
		Raw Material and Components	0.000	0.000	4876.540
		Stores and Spares	61.220	64.940	62.850
	TOTAL IMPORTS		7189.180	7201.730	5155.110
	Earnings Per Share (Rs.)		16.78	12.59	17.34

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	9.53	8.99	8.37
Net Profit Margin (PBT/Sales)	(%)	14.24	13.48	12.51
Return on Total Assets (PBT/Total Assets}	(%)	32.63	33.56	29.49
Return on Investment (ROI) (PBT/Networth)		0.40	0.39	0.34
Debt Equity Ratio (Total Debt /Networth)		0.17	0.14	0.15
Current Ratio (Current Asset/Current Liability)		2.18	2.27	1.99

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	170.810	170.810	170.810
Reserves & Surplus	6288.460	8063.880	10427.330
Net worth	6459.270	8234.690	10598.140
long-term borrowings	701.020	784.720	773.130
Short term borrowings	200.100	56.040	98.630
Total borrowings	901.120	840.760	871.760
Debt/Equity ratio	0.140	0.102	0.082

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	17,610.530	23,644.680	29,613.960
		34.264	25.246

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	17,610.530	23,644.680	29,613.960
Profit	1,480.960	2,150.630	2,867.050
	8.41%	9.10%	9.68%

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	Yes
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

LITIGATION DETAILS

CASE STATUS INFORMATION SYSTEM

ITTA 270 / 2008 ITTASR 2246 / 2007 CASE IS: PENDING

PETITIONER	RESPONDENT
THE COMMISSIONER OF INCOME TAX, TIRUPATHI. PET.ADV. : NARASIMHA SARMA SUBJECT: U/Sec. 143 Assessment	M/S AMARA RAJA BATTERIES LIMITED, TIRUPATHI. RESP.AD. : RAMASWAMI DISTRICT:  CHITTOOR
FILING DATE:  12-10-2007 POSTING STAGE :  FOR ADMISSION
REG. DATE    :   18-08-2008 LISTING DATE :  20-08-2008 STATUS   :  ADMIT
HON'BLE JUDGE(S): T.MEENA KUMARI     SANJAY KUMAR

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Deferred payment liabilities
Interest free sales tax deferment (Unsecured)	773.130	784.720
Total	773.130	784.720

Interest free sales tax deferment

The Company has availed interest free sales tax deferment under Andhra Pradesh sales tax deferment scheme (Target 2000) from the financial year 1997-98 as per the eligibility norms in respect of expanded capacities. The Company has availed total deferment of Rs. 811.40 Millions since March 1998, which is repayable after a period of 14 years from the date of each availment in annual installments.

• Eligible amount of intrest free sales tax deferment – Rs. 813.330 Millions
• Period Eligible for availment – January 1998 till September 2015

CORPORATE INFORMATION

The Company is the second largest manufacturer of lead-acid storage batteries for industrial and automotive applications in India. The equity shares of the Company are listed in BSE Limited and the National Stock Exchange of India Limited. The Company’s products are supplied to various user segments viz., Telecom, Railways, Power Control and UPS under Industrial Battery business; and to Automobile OEMs, Replacement Market and Private Label Customers under Automotive Battery business. The Company’s products are being exported to various countries in the Indian Ocean Rim. The Company also provides installation and commissioning and maintenance services to the customers. The leading automotive and industrial battery brands of the Company are Amaron®, Power Zone TM, Power Stack®, Amaron Volt TM and Quanta.

HIGHLIGHTS, 2012-13

• Launched the Quick Recharge Series (QRS) batteries, primarily catering to the requirements of the telecom tower application; the product received a heartening response
• Received the gold award for ‘Excellence in SME (Subject Matter Expertise) Services’ from Indus Towers Limited
• Received an award as the ‘Most Preferred Battery Brand’ in the Telecom segment by Frost and Sullivan
• Received a 3-Star award in International Convention on Quality Circles

PERFORMANCE OVERVIEW:

The Company has recorded total revenue (net of excise duty) of Rs. 29.61 billion as against Rs. 23.64 billion in the previous year showing a remarkable 25% growth. The operating profit (Earnings Before Depreciation, Interest, Tax and Amortisation - EBIDTA) for the year stood at Rs. 4658.000 Millions (previous year Rs. 3570.000 Millions) representing 15.73% of net revenue. The Profit before Tax (PBT) and Profit after Tax (PAT) for the financial year ended March 31, 2013 was at Rs. 4218.0000 Millions and Rs. 2867.000 Millions as against Rs. 3186.000 Millions and Rs. 2151.000 Millions of the previous financial year respectively. The profit after tax has registered an impressive 33% growth. The financial year 2012-13 was a yet another significant year in terms of highest ever turnover and profit in the history of the Company.

FINANCIAL POSITION

The Company’s financial position has shown immense improvement over the years. The networth as at March 31, 2013 improved to Rs. 10598 Millions with the addition of Rs. 2363.000 Millions to the reserves and surplus during the year. There is no interest bearing debt as of March 31, 2013. The surplus cash as at the yearend stood at Rs. 3652.000 Millions. The Company has parked the surplus funds in fixed deposits with reputed banks to ensure utmost safety, liquidity and return. The debt to equity ratio as at March 31, 2013 is 0.08 times, without adjusting for surplus cash. The Company is confident of funding the recently announced various capacity expansions, at the current location and at a strategic second location, through surplus cash, estimated internal accruals during 2013-14 and with moderate debt.

CRISIL has upgraded the ratings on the Company’s longterm bank loan facilities to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Stable’ and has re-affirmed the ratings on the short-term bank facilities at ‘CRISIL A1+’. During the year under review, the gross fixed assets including capital work in progress increased by Rs. 1304.000 Millions (net of deletions of Rs. 155.000 Millions) and are at Rs. 7832.000 Millions (previous year – Rs. 6528.000 Millions). The entire additions were funded through internal accruals. The earnings per share of Re. 1 each for the financial year 2012-13 grew by 33% at Rs. 16.78 as against Rs. 12.59 for the previous financial year, while the book value per share as at March 31, 2013 was at Rs. 62 against Rs. 48 as at March 31, 2012.

UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 31^ST MARCH 2014

(Rs. In Millions)

Particulars	Quarter Ended ( Unaudited)		Year Ended ( Unaudited)
	31.03.2014	31.12.2013	31.03.2014
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	8851.400	8599.500	34366.600
b) Other operating income	28.000	29.800	150.900
Total income from Operations(net)	8879.400	8629.300	34517.500
2.Expenditure
a) Cost of material consumed	5502.200	5347.600	21011.900
b) Purchases of stock in trade	366.100	341.700	2113.700
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	73.900	(29.300)	(292.100)
d) Employees benefit expenses	414.600	392.200	1583.200
e) Depreciation and amortization expenses	189.500	156.800	645.700
f) Other expenditure	1145.500	1073.900	4346.600
Total expenses	7691.800	7282.900	29409.000
3. Profit from operations before other income and financial costs	1187.600	1346.400	5108.500
4. Other income	61.200	72.800	304.200
5. Profit from ordinary activities before finance costs	1248.800	1419.200	5412.700
6. Finance costs	6.000	0.300	7.200
7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	1242.800	1418.900	5405.500
8. Exceptional item	(38.800)	0.000	(38.800)
9. Profit from ordinary activities before tax Expense:	1204.000	1418.900	5366.700
10.Tax expenses	403.500	468.800	1692.300
11.Net Profit / (Loss) from ordinary activities after tax (9-10)	800.500	950.100	3674.400
12.Extraordinary Items (net of tax expense)	0.000	0.000	000
13.Net Profit / (Loss) for the period (11 -12)	800.500	950.100	3674.400
14.Paid-up equity share capital (Nominal value Re.1/- per share)	170.800	170.800	170.800
15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year
16.i) Earnings per share (before extraordinary items) of Re.1/- per share) (not annualised):
(a) Basic and diluted	4.69	5.56	21.51
ii) Earnings per share (after extraordinary items)
(a) Basic and diluted	4.69	5.56	21.51

Particulars	Quarter Ended ( Unaudited)		Year Ended ( Unaudited)
	31.03.2014	31.12.2013	31.03.2014
A. Particulars of shareholding
1. Public Shareholding
- Number of shares	81885048	81885048	81885048
- Percentage of shareholding	47.94	47.94	47.94
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	2667140	2667140	2667140
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	3.00	3.00	3.00
Percentage of shares (as a % of total share capital of the company)	1.56	1.56	1.56
b) Non Encumbered
Number of shares	86260312	86260312	86260312
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	97.00	97.00	97.00
Percentage of shares (as a % of total share capital of the company)	50.50	50.50	50.50
B. Investor Complaints
Pending at the beginning of the quarter	Nil
Receiving during the quarter	2
Disposed of during the quarter	2
Remaining unreserved at the end of the quarter	Nil

STANDALONE STATEMENT OF ASSTES AND LIABILITIES AS ON 31.03.2014

Rs. In Millions

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	170.800
(b) Reserves & Surplus	13,456.200
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	13,627.000
(3) Non-Current Liabilities
(a) long-term borrowings	759.500
(b) Deferred tax liabilities (Net)	301.300
(c) Other long term liabilities	0.000
(d) long-term provisions	369.600
Total Non-current Liabilities (3)	1,430.400
(4) Current Liabilities
(a) Short term borrowings	83.800
(b) Trade payables	1,277.800
(c) Other current liabilities	2,156.700
(d) Short-term provisions	2,818.700
Total Current Liabilities (4)	6,337.000
TOTAL	21,394.400
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets	7,678.600
(b) Non-current Investments	160.800
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	567.700
(e) Other Non-current assets	1.200
Total Non-Current Assets	8,408.300
(2) Current assets
(a) Current investments	0.000
(b) Inventories	3,350.100
(c) Trade receivables	4,527.800
(d) Cash and cash equivalents	2,945.700
(e) Short-term loans and advances	2,119.300
(f) Other current assets	43.200
Total Current Assets	12,986.100
TOTAL	21,394.400

Notes:

1. As the Company's business activity falls within a single primary business segment, viz., "Lead Acid Storage Batteries", the disclosure requirement of AS-17 "Segment Reporting", notified by the Companies (Accounting Standards) Rules, 2006 are not applicable.

2. Net sales are net of trade discounts / trade incentives.

3. The board has recommended a final dividend of Rs. 3.23/- per equity share of Re. l/- each, in line with the dividend policy of the Company, subject to approval of the shareholders at the ensuing annual general meeting.

4. The figures for the quarter ended March 31, 2014 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.

5. Exceptional item represent net provision for Fuel Surcharge Adjustment claims for financial years 2009-10 to 2011-12, surcharge on arrears and additional demand charges for financial year 2013-14 made by Southern Power Distribution Company of Andhra Pradesh Limited.

6. Previous year figures have been re-grouped / re-classified wherever necessary to confirm to current year figures.

7. The aforementioned results were reviewed by the audit committee and approved by the board of directors at its meeting held on May 28, 2014.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10146206	28/05/2013 *	250,000,000.00	The Bank of Nova Scotia	Classic Towers, 1547 Trichy Road, Coimbatore, Tamilnadu - 641018, India	B76969179
2	90118450	26/03/2010 *	275,000,000.00	Andhra Bank	Beri Street, Tirupati, Andhra Pradesh - 517501, India	A83307306
3	80053583	26/03/1990	11,787,000.00	Industrial Finance Corporation of India	Bank Of Baroda Bauilding, No.16, Sansad Marg, Delhi - 110001, India	-
4	80053584	26/03/1990	11,787,000.00	IFCI	Bank Of Baroda Building, No.16, Sansad Marg, New Delhi, Delhi - 110001, India	-
5	80053585	24/01/1990	17,500,000.00	IFCI LIMITED	Bank Baroda Building, No.16, Sansad Marg, Delhi - 110001, India	-

FIXED ASSETS:

• Land and land development
• Buildings
• R and D buildings
• Plant and machinery
• R and D plant and machinery
• Electrical installations
• Furniture
• Vehicles
• Office equipment
• Brands/trademarks
• Computer software

NEWS:

AMARA RAJA BATTERIES CLOCKS HIGHEST EVER QUARTERLY REVENUE AND PBT.

• Revenue of Rs. 8,868 Millions
• PBT of Rs. 1,405 Millions
• PAT of Rs. 978 Millions

Tirupati, August 14, 2013

Amara Raja Batteries Limited, India’s leading Industrial and Automotive Battery major (BSE Code: 500008 and NSE Code: AMARAJABAT) today reported Net Sales (excluding other income) of Rs.8868 Millions in Q1F14 (Rs.6878 Millions) - a 29% growth and Profit after Tax (PAT) at Rs. 978 Millions (Rs.761 Millions) - a 29% growth.

For the quarter ended 30th June, 2013,

Particulars	Unaudited financials for the Quarter ended		Audited Financials for the year ended
	30.06.2013	30.06.2012	31.03.2013
Net Sales (excluding other income)	8868.000	6878.000	29614.000
Profit Before Tax (PBT)	1405.000	1123.000	4218.000
Profit After Tax (PAT)	978.000	761.000	2867.000

The Automotive battery business continued to maintain the growth momentum in Four wheeler batteries backed by improved aftermarket sales arising out of strong preference for our brands Amaron® and PowerZoneTM. The significant volume growth in two wheeler batteries (Amaron ProbikeRider™) has added to the performance of the business unit. During the quarter, the Company has commenced supplies of two wheeler batteries to Honda Motors India Limited, for their plant in Karnataka. The trading in tubular batteries and home UPS under private label program has sustained the momentum during the quarter, despite unfavourable demand conditions. The company is looking at enhancing the capacity in both the product lines, as announced earlier, to meet future demand and garner more market shares.

The Industrial Battery business registered double digit revenue growth aided by optimal product mix and strong demand for Company’s products. The demand from telecom sector continues to be robust and is primarily for replacement. Though the growth rate of UPS OEM business has moderated by country’s adverse macro-economic conditions, the replacement demand continues to be strong. The Company could not fully capitalize on the growing demand and preference for its telecom (PowerStack®) and UPS (Quanta®) batteries for want of adequate capacity. The continuing strong performance of industrial battery business is resultant of its “preferred supplier status” with all major customers, backed by timely supplies, efficient after sales service, customer relationship management and consistent product performance. The Company has progressively started providing total solutions to customers enabling it to forge strategic alliances and gain service revenue stream. The ongoing expansions, which are expected to commence supplies during the second half of this financial year, will ably support the growth plans of the industrial battery business.

Commenting on the Q1 performance, Mr. Jayadev Galla, Vice Chairman and Managing Director, Amara Raja Batteries Limited said, “We are delighted to report record numbers for the quarter despite a challenging business environment. Both the automotive and industrial battery businesses need supply support to continue the growth momentum and gain market share. Our focus is on early completion of capacity expansions which are underway. Our strong belief in capacity lead strategy will help us realize medium and long term objectives”.

Mr. Ravi Bhamidipati, Executive Director, Amara Raja Batteries Limited said, “We are very pleased to report a healthy growth in revenue and profit both in industrial and automotive battery businesses. We are confident of growing the business profitably with the help of the product range extensions and continued emphasis on operational efficiency.”

Commenting on the Q1 performance, Mr. K.Suresh, Chief Financial Officer, said, “We are closely monitoring the progress of various ongoing projects. We are also observing the currency volatility and its impact on project cost and profitability, to minimize the adverse impact through appropriate actions.”

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.60.28
UK Pound	1	Rs.102.77
Euro	1	Rs.82.12

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	RAS
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	8
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		64

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.