7MIRA INFORM REPORT

Report Date :

08.03.2014

IDENTIFICATION DETAILS

Name :	BHARATHI CEMENT CORPORATION PRIVATE LIMITED [w.e.f. 21.09.2010]
Formerly Known As :	BHARATHI CEMENT CORPORATION LIMITED [w.e.f. 06.08.2008] RAGHURAM CEMENTS LIMITED
Registered Office :	8-2-626, Reliance Majestic, Road No. 10, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh
Country :	India
Financials (as on) :	31.12.2012
Date of Incorporation :	12.05.1999
Com. Reg. No.:	01-031682
Capital Investment / Paid-up Capital :	Rs.791.969 Millions
CIN No.: [Company Identification No.]	U26942ap1999pTc031682
TAN No.: [Tax Deduction & Collection Account No.]	Hydr04482C
PAN No.: [Permanent Account No.]	Aadcr3079g
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cements.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 9130000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile supported by adequate liquidity position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions. Note: The company has change its financial year form 9 months (April 2011 to December 2011) to 12 months (January 2012 to December 2012)

NOTES:

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

ECGC Country Risk Classification List – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

The services sector, the largest contributor to India’s GDP, contracted for the sixth consecutive month in December, as orders dipped. However, hiring has risen.  Direct tax collections rose 12.3 % during the April – December period of the current financial year.  The government has decided to retain 100 per cent foreign direct investment in both greenfield (new) and brown field (existing) pharmaceutical companies, despite concerns over genetic drugs going out of production, if multi-national companies take over domestic ones. In M&A deals, a non compete clause would not be allowed, except in special circumstances. The Department of Industrial Policy and Promotion plans to release the next edition of its consolidated foreign direct investment policy document on March 31, incorporating changes made in the past year. DIPP compiles all policies related to India’s FDI regime into a single document to make it easy for investors to understand. 185 million estimated number of mobile internet users in India by June 2014, according to a report by the Internet & Mobile Association of India and IMRB International.  India had 110 million mobile internet users with 25 million in rural areas. $3.77 tn estimated global IT spending in 2014, according to research firm Gartner Inc. The growth forecast for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast for telecom services – a segment that accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason for this overall IT cut. A Reserve Bank of India committee has recommended setting up a special category of lenders who would cater to small businesses and households, to expand the number of customers with access to banking services. These banks would focus onproviding payment services and deposit products.  Indian banks want the free use of automated teller machines to be capped at five transactions in a month including that of the bank in which the account is active. This follows state government order to banks to install security guards at ATM booths after a woman banker was assaulted in Bangalore. The government is likely to present a vote on Account in mid-February. The annual Economic Survey will be tabled later in Parliament along with the full Budget. A full Budget for 2014/15 is likely to be present in July by the new government formed after the General Election. The government will soon launch an internet spy system, called Netra, to detect malafide messages. Security agency will deploy the system to capture dubious voice traffic on applications such as Skype and Google Talk, as well as tweeters.

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Rajshekhar Reddy
Designation :	Export Manager
Contact No.:	91-40-30006999
Date :	04.03.2014

LOCATIONS

Registered Office / Regional Office 1 / Corporate Office :	8-2-626, Reliance Majestic, Road No. 10, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India
Tel. No.:	91-40-30006990/30006999
Fax No.:	91-40-30006977
E-Mail :	siva_nellai@hotmail.com vsreddy@eth.net velmurugan@sandurpower.com raghuramcements@gmail.com balajig@bharathicement.com bnreddy@bharathicement.com
Website :	www.bharathicement.com
Regional Office 2 :	No. 8 (Old No. 10 A), Tarapore Avenue, Off Hamington Road, 6^th Avenue, Chennai – 600 031
Tel. No.:	91-44-39101481 to 83
Fax No.:	91-44-39101484
Regional Office 3 :	No. 56, B /34, 1^st Main, Vyalikaval, Lower Palace Orchards, Bangalore – 560 003, Karnataka, India
Tel. No.:	91-80-30518700
Fax No.:	91-80-30518711
Factory :	Nallalingayapalli Village, Kamalapuram Mandal, Kadapa District - 516 289, Andhra Pradesh, India
Tel. No.:	91-8563-200400/ 200411
Branch Office :	Located at: Kadapa Vijayawada Tirupati Chennai Vellore Salem Coimbatore Bangalore Mysore Mangalore Bellary Hubli Madurai Trichy Cochin

DIRECTORS

As on 22.03.2013

Name :

Mrs. Yeduguri Sandinti Bharathi Reddy

Designation :

Chairperson

Address :

No 3, Huda Heights, Near Lotus Pond, Road No 12, Banjara Hills, Hyderabad -

500 034, Andhra Pradesh, India

Date of Birth/Age :

09.12.1973

Date of Appointment :

26.12.2010

DIN No.:

01580536

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	U75300AP2005NPL045651	YSR FOUNDATION	Director	18/03/2005	18/03/2005	-	Active	NO
2	U07010KA2005PTC036376	BHAGAVATH SANNIDHI ESTATES PRIVATE LIMITED	Director	23/09/2005	23/09/2005	-	Active	NO
3	U70200KA2004PTC034777	SILICON BUILDERS PRIVATE LIMITED	Director	16/12/2005	16/12/2005	-	Active	NO
4	U70200KA2004PTC034776	SILICON INFRASTRUCTURE PRIVATE LIMITED	Director	16/12/2005	16/12/2005	-	Active	NO
5	U45200KA2006SGC039977	SHALOM INFRASTRUCTURE PRIVATE LIMITED	Director	18/07/2006	18/07/2006	-	Active	NO
6	U04520KA1988PTC009606	CLASSIC REALTY PRIVATE LIMITED	Director	28/09/2012	01/11/2006	-	Active	NO
7	U45203KA2007PTC041512	Nivish Infrastructure Private Limited	Director	18/01/2007	18/01/2007	-	Active	NO
8	U55101KA2007PTC041511	INSPIRE HOTELS PRIVATE LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
9	U45200KA2007PTC041513	HARISH INFRASTRUCTURE PRIVATE LIMITED	Director	18/01/2007	18/01/2007	-	Active	NO
10	U85110KA1998PLC024355	SANDUR POWER COMPANY LIMITED	Director	01/12/2010	02/05/2010	-	Active	NO
11	U26942AP1999PTC031682	BHARATHI CEMENT CORPORATION Private Limited	Director	26/12/2010	26/12/2010	-	Active	NO
12	U85110KA2005PTC037807	CARMEL ASIA HOLDINGS PRIVATE LIMITED	Director	28/09/2011	03/01/2011	-	Active	NO
13	U01119TN1994PTC027017	KEALAWN TECHNOLOGIES PRIVATE LIMITED	Additional director	04/01/2011	04/01/2011	-	Active	NO
14	U22212AP2006PLC051651	JAGATI PUBLICATIONS LIMITED	Director	26/09/2011	01/02/2011	-	Active	NO
15	U32101AP2005PLC045392	INDIRA TELEVISION LIMITED	Director	05/09/2011	01/02/2011	-	Active	NO
16	U40109AP1999PTC031428	SARASWATI POWER AND INDUSTRIES PRIVATE LIMITED	Director	15/02/2011	15/02/2011	-	Active	NO

Name :

Mr. Anoop Kumar Saxena

Designation :

Managing Director

Address :

F. No : 301, Manbhum Ganesh, 10-3-7/1, East Mareedpally, Secunderabad – 500 026, Andhra Pradesh, India

Date of Birth/Age :

02.06.1962

Date of Appointment :

01.01.2013

DIN No.:

05224993

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	U26941AP2008FTC060595	VICAT SAGAR CEMENT PRIVATE LIMITED	Director	08/11/2013	17/02/2012	-	Active	NO
2	U40108AP2010PTC071687	GULBARGA POWER PRIVATE LIMITED	Director	03/04/2013	01/01/2013	-	Active	NO
3	U26942AP1999PTC031682	BHARATHI CEMENT CORPORATION Private Limited	Director	08/11/2013	01/01/2013	-	Active	NO

Name :

Mr. Jacques Marie Merceron Vicat

Designation :

Director

Address :

188 Avenue Victor Hugo, Paris, 75116, France

Date of Birth/Age :

22.03.1938

Date of Appointment :

30.04.2010

DIN No.:

02218443

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	U26941AP2008FTC060595	VICAT SAGAR CEMENT PRIVATE LIMITED	Director	12/08/2008	12/08/2008	-	Active	NO
2	U26942AP1999PTC031682	BHARATHI CEMENT CORPORATION Private Limited	Director	30/04/2010	30/04/2010	-	Active	NO

Name :

Mr. Guy Dominique Louis Sidos

Designation :

Director

Address :

18, Boulevard Des Belges, 69006 Lyon 06, France

Date of Birth/Age :

13.09.1963

Date of Appointment :

30.04.2010

DIN No.:

02262974

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	U26941AP2008FTC060595	VICAT SAGAR CEMENT PRIVATE LIMITED	Director	19/09/2008	19/09/2008	-	Active	NO
2	U26942AP1999PTC031682	BHARATHI CEMENT CORPORATION Private Limited	Director	30/04/2010	30/04/2010	-	Active	NO

Name :

Mr. Harish Channa Veerappa Kamarthy

Designation :

Whole-time director

Address :

8-2-603/2/M, Near Masjid, Road No 10, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Date of Birth/Age :

27.11.1968

Date of Appointment :

01.12.2007

DIN No.:

01578833

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	U74210AP1982PTC003488	MAHA PRO TECH PRIVATE LIMITED	Director	09/09/1996	09/09/1996	-	Active	NO
2	U01110AP1996PTC023220	SUBHASANA GREENFIELDS PRIVATE LIMITED	Director	11/07/1997	11/07/1997	-	Active	NO
3	U85110KA1998PLC024355	SANDUR POWER COMPANY LIMITED	Director	01/10/2009	16/06/2001	01/02/2011	Active	NO
4	U75300AP2005NPL045651	YSR FOUNDATION	Director	18/03/2005	18/03/2005	-	Active	NO
5	U70200KA2004PTC034777	SILICON BUILDERS PRIVATE LIMITED	Director	16/12/2005	16/12/2005	01/02/2011	Active	NO
6	U70200KA2004PTC034776	SILICON INFRASTRUCTURE PRIVATE LIMITED	Director	16/12/2005	16/12/2005	01/02/2011	Active	NO
7	U07010KA2005PTC036376	BHAGAVATH SANNIDHI ESTATES PRIVATE LIMITED	Director	16/12/2005	16/12/2005	01/02/2011	Active	NO
8	U45200KA2006SGC039977	SHALOM INFRASTRUCTURE PRIVATE LIMITED	Director	18/07/2006	18/07/2006	01/05/2009	Active	NO
9	U04520KA1988PTC009606	CLASSIC REALTY PRIVATE LIMITED	Director	06/09/2006	06/09/2006	22/03/2010	Active	NO
10	U45201KA2006PTC038342	MARVEL INFRASTRUCTURE PRIVATE LIMITED	Director	11/09/2006	11/09/2006	-	Active	NO
11	U45202KA2006PTC040786	JANANI INFRASTRUCTURE PRIVATE LIMITED	Director	26/10/2006	26/10/2006	01/02/2011	Active	NO
12	U22212AP2006PLC051651	JAGATI PUBLICATIONS LIMITED	Director	14/11/2006	14/11/2006	01/02/2011	Active	NO
13	U55101KA2007PTC041511	INSPIRE HOTELS PRIVATE LIMITED	Director	18/01/2007	18/01/2007	01/02/2011	Active	NO
14	U45203KA2007PTC041512	Nivish Infrastructure Private Limited	Director	18/01/2007	18/01/2007	01/02/2011	Active	NO
15	U45200KA2007PTC041513	HARISH INFRASTRUCTURE PRIVATE LIMITED	Director	18/01/2007	18/01/2007	01/02/2011	Active	NO
16	U45203KA2007PTC042980	CAPSTONE INFRASTRUCTURE PRIVATE LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO
17	U26942AP1999PTC031682	BHARATHI CEMENT CORPORATION Private Limited	Whole-time director	01/05/2010	01/12/2007	-	Active	NO
18	U14102KA2008PTC046545	SRI MANJUNATHA STONES PRIVATE LIMITED	Director	23/05/2008	23/05/2008	-	Active	NO
19	U14102KA2008PTC046544	MINES AND ROCK PRODUCTS (INDIA) PRIVATE LIMITED	Director	23/05/2008	23/05/2008	-	Active	NO
20	U74899DL2005PTC143046	HIMURJA INFRA PRIVATE LIMITED	Additional director	25/07/2008	25/07/2008	-	Active	NO
21	U60231AP2008PTC060374	RADIAL LOGISTICS PRIVATE LIMITED	Director	30/07/2008	30/07/2008	-	Strike off	NO
22	U26940AP2008PTC060658	INFRATECH CEMENTS (INDIA) PRIVATE LIMITED	Director	21/08/2008	21/08/2008	-	Active	NO
23	U25209AP2009PTC062486	BHARATHI POLYMERS INDIA PRIVATE LIMITED	Director	07/01/2009	07/01/2009	23/11/2010	Active	NO
24	U40102AP2009PTC063062	BHARATHI POWER CORPORATION PRIVATE LIMITED	Director	17/03/2009	17/03/2009	01/02/2011	Active	NO
25	U14200KA2008PTC047222	NAREN ROCKS AND MINES PRIVATE LIMITED	Director	21/01/2014	21/01/2014	-	Active	NO

Name :

Mr. Jella Jagan Mohan Reddy

Designation :

Whole-time director

Address :

Nadikota, Raveendra Nagar, Cuddapah - 500001, Andhra Pradesh, India

Date of Birth/Age :

15.06.1971

Date of Appointment :

16.01.2006

DIN No.:

00504212

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	U40109AP1999PTC031428	SARASWATI POWER AND INDUSTRIES PRIVATE LIMITED	Director	22/10/2001	22/10/2001	-	Active	NO
2	U85110KA1998PLC024355	SANDUR POWER COMPANY LIMITED	Director	01/10/2009	22/10/2001	01/02/2011	Active	NO
3	U75300AP2005NPL045651	YSR FOUNDATION	Director	18/03/2005	18/03/2005	-	Active	NO
4	U25209AP2005PTC047633	Coromandel Packaging Private Limited	Director	30/09/2005	30/09/2005	15/03/2011	Active	NO
5	U26942AP1999PTC031682	BHARATHI CEMENT CORPORATION Private Limited	Whole-time director	01/05/2010	16/01/2006	-	Active	NO
6	U22212AP2006PLC051651	JAGATI PUBLICATIONS LIMITED	Director	14/11/2006	14/11/2006	01/02/2011	Active	NO
7	U45203KA2008PTC046101	REVAN INFRA PRIVATE LIMITED	Director	16/04/2008	16/04/2008	-	Active	NO
8	U45200KA2008PTC046100	RUDH INFRA PRIVATE LIMITED	Director	16/04/2008	16/04/2008	-	Active	NO
9	U74899DL2005PTC143046	HIMURJA INFRA PRIVATE LIMITED	Additional director	25/07/2008	25/07/2008	-	Active	NO
10	U26940AP2008PTC060658	INFRATECH CEMENTS (INDIA) PRIVATE LIMITED	Director	21/08/2008	21/08/2008	-	Active	NO
11	U25209AP2009PTC062486	BHARATHI POLYMERS INDIA PRIVATE LIMITED	Director	07/01/2009	07/01/2009	23/11/2010	Active	NO
12	U40102AP2009PTC063062	BHARATHI POWER CORPORATION PRIVATE LIMITED	Director	17/03/2009	17/03/2009	-	Active	NO
13	U74120DL2009PTC194472	COHERENT INDUSTRIES INDIA PRIVATE LIMITED	Director	18/09/2009	18/09/2009	-	Active	NO
14	U74120DL2009PTC194470	MANIFEST ENTERPRISES PRIVATE LIMITED	Director	18/09/2009	18/09/2009	-	Active	NO

Name :

Mr. Ravinder Reddy Madadi

Designation :

Whole-time director

Address :

H No: 8-3-222/1/4, Flat No: 402, Woodswale Apatment, Madhura Nagar, Hyderabad – 500 038, Andhra Pradesh, India

Date of Birth/Age :

27.05.1961

Date of Appointment :

01.09.2008

DIN No.:

02332339

Name :

Mr. Balaji Govindappa

Designation :

Whole-time director

Address :

Flat No 402, Swarna Palace, Plot No 13 of MCH # 8-3-64, Sri Nagar Colony, Hyderabad – 500073, Andhra Pradesh, India

Date of Birth/Age :

10.07.1964

Date of Appointment :

30.04.2010

DIN No.:

02513998

Name :

Mr. Rodolphe Yves Revel

Designation :

Director

Address :

Rue B X5 ET6 Point E, Dakar, 000000, Senegal

Date of Birth/Age :

15.01.1973

Date of Appointment :

30.04.2010

DIN No.:

02403278

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	U26942AP1999PTC031682	BHARATHI CEMENT CORPORATION Private Limited	Director	30/04/2010	30/04/2010	-	Active	NO
2	U40108AP2010PTC071687	GULBARGA POWER PRIVATE LIMITED	Director	15/12/2010	15/12/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Nageswara Reddy Bommavaram
Designation :	Secretary
Address :	Plot No 25 and 26, Balaji Swanapuri Colony, Mothi Nagar, Hyderabad – 500 018, Andhra Pradesh, India
Date of Birth/Age :	15.08.1979
Date of Appointment :	01.07.2011
PAN No.:	AIIPB5795P
Name :	Mr. Rajshekhar Reddy
Designation :	Export Manager

MAJOR SHAREHOLDERS

As on 22.03.2013

Names of Shareholders	No. of Shares
YS Jagan Mohan Reddy	23806435
Parficim SAS, France	40390405
Silicon Builders Private Limited, India	15000000
YS Bharathi Reddy	9
Probal Bhadhuri	10
Gyanendra Kumar	10
Anuradha Mukherjee	10
Total	79196879

Equity Share Break up (Percentage of Total Equity)

As on 22.03.2013

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	51.00
Bodies corporate	18.94
Directors or relatives of Directors	30.06
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cements.

Products :

Product Description	Item Code No. (ITC Code)
Cement	2523
Ordinary Portland Cement, Dry	25232910

Exports :

Products :

Finished Goods

Countries :

• Srilanka
• Nepal
• Myanmar

Imports :

Products :

Coal

Countries :

• Indonesia
• South Africa
• Australia

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

GENERAL INFORMATION

No. of Employees :	400 (Approximately)
Bankers :	Oriental Bank of Commerce, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India Tel No.: 91-40-23545901

Banking Relations :	--
Auditors :
Name :	I.V.S. and associates Chartered Accountants
Address :	Flat No. 2, 35 – 13, Tirupathi Balaji Towers, Langford Road Cross, Bangalore – 560 025, Karnataka, India
PAN No.:	AACFI3395Q
Ultimate Holding Company :	VICAT SA
Fellow Subsidiary Company :	Vicat Sagar Cement Private Limited CIN No.: U26941AP2008FTC060595
Subsidiary Company :	Bharathi Polymers India Private Limited CIN No.: U25209AP2009PTC062486 Mines and Rock Products (India) Private Limited CIN No.: U14102KA2008PTC046544 Sri Manjunatha Stones Private Limited CIN No.: U14102KA2008PTC046545 Naren Rocks and Mines Private Limited CIN No.: U14200KA2008PTC047222
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Jagati Publications Limited CIN No.: U22212AP2006PLC051651 Indira Television Limited CIN No.: U32101AP2005PLC045392

CAPITAL STRUCTURE

As on 22.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
93000000	Equity Shares	Rs.10/- each	Rs.930.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
79196879	Equity Shares	Rs.10/- each	Rs.791.969 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2012 (12 Months)	31.12.2011 (9 Months)	31.03.2011 (12 Months)
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	791.969	791.969	791.969
(b) Reserves & Surplus	19,491.513	18,797.577	18,108.328
(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)	20,283.482	19,589.546	18,900.297
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	996.135	412.989	106.091
(c) Other long term liabilities	225.841	188.885	0.000
(d) long-term provisions	61.490	27.058	25.300
Total Non-current Liabilities (3)	1,283.466	628.932	131.391
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	555.722	519.288	391.791
(c) Other current liabilities	1,712.570	1,219.874	972.996
(d) Short-term provisions	1,172.196	786.870	133.911
Total Current Liabilities (4)	3,440.488	2,526.032	1,498.698
TOTAL	25,007.436	22,744.510	20,530.386
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13,009.726	11,904.533	12,202.221
(ii) Intangible Assets	141.619	154.601	162.381
(iii) Capital work-in-progress	114.967	910.266	353.936
(iv) Intangible assets under development	2.000	0.000	0.000
(b) Non-current Investments	746.233	742.233	731.633
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1,465.173	1,175.097	414.302
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	15,479.718	14,886.730	13,864.473
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1,376.609	1,011.074	1,022.157
(c) Trade receivables	1,237.661	588.327	406.079
(d) Cash and cash equivalents	5,541.243	5,000.779	4,195.049
(e) Short-term loans and advances	1,372.205	1,257.600	1,042.628
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	9,527.718	7,857.780	6,665.913
TOTAL	25,007.436	22,744.510	20,530.386

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.12.2012 (12 Months)	31.12.2011 (9 Months)	31.03.2011 (12 Months)
	SALES
		Income		10691.400
		Other Income		NA
		TOTAL (A)		NA	5882.463	1174.383
Less	EXPENSES (B)			NA	4873.858	1708.390
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			NA	1008.605	(534.007)
Less	FINANCIAL EXPENSES (D)			NA	132.421	318.511
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			NA	876.184	(852.518)
Less	DEPRECIATION/ AMORTISATION (F)			NA	371.452	177.546
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			NA	504.732	(1030.064)
Less	TAX (H)			NA	336.991	(61.645)
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			1126.500	167.741	(968.419)
	IMPORTS
			Packing materials, Fuel, stores and spares	NA	102.577	205.681
			Capital Goods	NA	850.951	390.536
	TOTAL IMPORTS			NA	953.528	596.217
	Earnings/(Loss) Per Share (Rs.)			14.22	4.35	(21.36)

KEY RATIOS

PARTICULARS		31.12.2012 (12 Months)	31.12.2011 (9 Months)	31.03.2011 (12 Months)
PAT / Total Income	(%)	NA	2.85	(83.99)
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.60	(4.27)
Return on Investment (ROI) (PBT/Networth)		NA	0.03	(0.05)
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		3.11	4.45	2.77

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	791.969	791.969	791.969
Reserves & Surplus	18108.328	18797.577	19491.513
Net worth	18900.297	19589.546	20283.482
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	Yes
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	Yes
20]	Export / Import details (if applicable)	Yes
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	No

LITIGATION DETAILS:

CASE STATUS INFORMATION SYSTEM

CP 115 / 2013

CPSR 3180 / 2013

CASE IS:PENDING

PETITIONER	RESPONDENT
BUILDMET PRIVATE LIMITED VS	BHARATHI CEMENT CORPORATION PRIVATE LIMITED
PET.ADV. : SATYA SREE AKELLA	RESP.ADV. : GUNARANJAN
SUBJECT: COMPANY PETITION	DISTRICT:  HYDERABAD

FILING DATE:  30-04-2013 POSTING STAGE :  FOR ADMISSION & HEARING

REG. DATE    :   30-04-2013 LISTING DATE :  17-02-2014 STATUS   :  NOTICES

HON'BLE JUDGE(S): C.V.NAGARJUNA REDDY    

OVERVIEW

Demand for cement has seen an excellent growth in North and East of India. However, a moderate growth of 4% is recorded in South India and Maharashtra. Indian Cement Industry continues to grow in order to meet the future growth of India. The capacity of India has already touched 370 million tonnes and the major junk of Capacity comes from South India and Maharashtra with 192 million tonnes.

OUTLOOK

The pan-India demand for Cement is estimated to grow at a robust 8% as per the CRISIL Research forecast. The capacity utilization is expected to be low from the year 2012-13 onwards and gradually will recover thereafter to 80% on a pan-India level by the end of 2016-17 and the growth rate is expected to continue to 8% in future years also. The large capacity is established in Andhra Pradesh due to availability of abundant Lime Stone Reserves. Further it is estimated that Government will utilize cement on infrastructural projects, road works etc which will boost the consumption in future. Risks and Concerns Inflation is a key concern for the cement industry and high cement capacity in South India and Maharashtra which may impact the sales of the Company. However, your Company has taken all precautions in all Southern states and Maharashtra to minimize the impact. The availability of Indian coal at competitive price is also a big challenge. We continue to depend on imported coal from Indonesia and South Africa and introduced pet coke to bring down the costs. The prices of other major inputs like Gypsum, Laterite and Fly Ash are likely to increase due to Freight cost increase on account of diesel price hike and railway freight hike. In 2012, we witnessed more than 25% hike in Rail Freight. Government is slowly withdrawing the subsidy on the diesel price. Increase of diesel price will lead to high freight cost for inward raw material as well as outward cement movement. Public deposits The Company had not accepted any deposits from the public during the year.

NOTE: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.60.98
UK Pound	1	Rs.102.07
Euro	1	Rs.84.52

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.