MIRA INFORM REPORT

Report Date :

08.10.2014

IDENTIFICATION DETAILS

Name :	MFL INDIA LIMITED
Registered Office :	C -4/28, Acharya Niketan, Mayur Vihar, Phase – 1, Delhi – 110091
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.11.1981
Com. Reg. No.:	55-012730
Capital Investment / Paid-up Capital :	Rs. 360.292 Millions
CIN No.: [Company Identification No.]	L63040DL1981PLC012730
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Providing transportation and logistics services.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1300000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile and huge accumulated losses recorded by the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating BB
Rating Explanation	Inadequate Credit Quality and High Credit Risk
Date	17.12.2013

Rating Agency Name	CRISIL
Rating	Short term rating A4+
Rating Explanation	Minimal Degree Of Safety and Very High Credit Risk
Date	17.12.2013

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Anil Thukral
Designation :	Director
Contact No.:	91-9717995494
Date :	24.09.2014

LOCATIONS

Registered Office :	C -4/28, Acharya Niketan, Mayur Vihar, Phase – 1, Delhi – 110091, India
Tel. No. :	91-11-32676756
Fax No. :	Not Available
E-Mail :	mfldelhi81@gmail.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Anil Thukral

Designation :

Director

Date of Appointment :

30.09.2013

DIN No. :

01168540

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	U63040DL1993PTC053080	DYNAMIC MOVERS PRIVATE LIMITED	Director	16/04/1993	16/04/1993	-	Amalgamated	NO
2	U74899DL2000PTC104285	MANORITES CAPITAL MANAGEMENT Private Limited	Director	09/03/2000	09/03/2000	23/05/2012	Active	NO
3	U74899DL1993PTC056309	DYNAMIC MOVERS INDIA PRIVATE LIMITED	Director	31/07/2007	31/07/2007	14/12/2011	Active	NO
4	L63040DL1981PLC012730	MFL INDIA LIMITED	Managing director	30/09/2013	05/04/2012	-	Active	NO
5	U26990DL2012PTC245038	Shri Krishan Aggregates Private Limited	Director	19/11/2012	19/11/2012	-	Active	NO

Name :

Mr. Palakuzhil Verghese Mohan

Designation :

Director

Name :

Mr. Sudhir Kumar Sharma

Designation :

Director

Name :

Mr. Devendra Manchanda

Designation :

Director

Name :

Ms. Sheetal Thukral

Designation :

Additional Director

Date of Appointment :

30.09.2013

DIN No. :

01168506

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	U63040DL1993PTC053080	DYNAMIC MOVERS PRIVATE LIMITED	Director	27/10/2010	26/02/1996	-	Amalgamated	NO
2	U74899DL1993PTC056309	DYNAMIC MOVERS INDIA PRIVATE LIMITED	Director	31/07/2007	31/07/2007	22/05/2013	Active	NO
3	U74899DL2000PTC104285	MANORITES CAPITAL MANAGEMENT Private Limited	Director	25/05/2010	25/05/2010	17/05/2012	Active	NO
4	L63040DL1981PLC012730	MFL INDIA LIMITED	Whole-time director	30/09/2013	06/03/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Arimardan Pratap Singh
Designation :	Manager
Name :	Mr. Vivek Khosla
Designation :	Compliance officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.06.2014

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	700000	1.94
Bodies Corporate
Sub Total	700000	1.94
(2) Foreign
Bodies Corporate
Sub Total
Total shareholding of Promoter and Promoter Group (A)	700000	1.94
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	7800	0.02
Sub Total	7800	0.02
(2) Non-Institutions
Bodies Corporate	6846582	19.00
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 million	2987272	8.29
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	4215373	11.70
Any Others (Specify)	21272173	59.04
Trusts
Non Resident Indians	26950	0.07
Clearing Members	2648	0.01
Hindu Undivided Families	127375	0.35
Directors and their Relative and Friends	211115200	58.61
Sub Total	35321400	98.04
Total Public shareholding (B)	35329200	98.06
Total (A)+(B)	36029200	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0
(2) Public	0	0
Sub Total	0	0
Total (A)+(B)+(C)	36029200	100.000

BUSINESS DETAILS

Line of Business :

Providing transportation and logistics services.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

• State Bank of India

Facilities :

PARTICULARS	As at 31st Mar.	As at 31st Mar.
	2014	2013
SHORT TERM BORROWING
Loans repayable on demand from State Bank of India
Bank Overdraft		151.308
SLC (Secured By Hypothecation of Book debts and Vehicle) from other parties	NA	22.500
Total		173.808

Banking Relations :	--
Auditors :
Name :	SRY and Associates Chartered Accountants
Address :	503-504, Rattan Jyoti,18 Rajendra Place, New Delhi – 110008, India
Related parties :	Shri Kishan Aggregates Private Limited
Joint venture :	Dynamic Movers- Blueview- Khazana (JV)

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital : Not Divulged

Issued, Subscribed & Paid-up Capital : Rs. 360.292 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
37000000	Equity Shares	Rs.10/- each	Rs. 370.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
36029200	Equity Shares	Rs.10/- each	Rs. 360.292 Millions

Rs in Millions

Particulars	As at 31^st Mar.2013
	Number	Amount
Shares Outstanding At The Beginning Of The Year	36,029,200	360.292
Shares Issued During The Year	-	-
Shares Bought Back During The Year	-	-
Shares Outstanding At The End Of The Year	36,029,200	360.292
Note 1A Disclosure pursuant to Note no. 6(A) (f) of part I of Schedule VI to the Companies Act, 1956, NIL

Note 1B	Disclosure pursuant to note no. 6(A) (g) of part I of schedule VI to the companies Act, 1956 (if more than 5%)
Name of Shareholder		As at 31^st Mar.2013		As at 31^st Mar.2013
		No. of shares held	% of holding	No. of shares held	% of holding
Mr. Anil Thukral		20,038,240	55.62	20,038,240	55.62
M/S SGM Webtech Private Limited		1,998,600	5.55	2,050,000	5.69
m/s kishna garden private limited		1,974,750	5.48	2,050,000	5.69
Ms/ Ashi Equities Private Limited		-	-	1,950,000	5.41
M/S Manorities Capital Managements Private Limited		-	-	1,550,000	4.30
Mr. Gurdev Singh		-	-	800,000	2.22
Note 1C Disclosure pursuant to note no. 6(A) (i) of part I of schedule VI to the companies Act,1956- NIL

Note 1D	Disclosure pursuant to note no. 6(A) (k) of part I of schedule VI to the companies Act,1956- NIL
Unpaid Calls		Amount in Rs.
By directors		NIL
By officers		NIL
Note 1E Appropriate disclosures to comply with this point to be made by the management

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	360.292	360.292	360.292
(b) Reserves & Surplus	(24.173)	(30.968)	(33.244)
(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)	336.119	329.324	327.048
(3) Non-Current Liabilities
(a) long-term borrowings	15.427	0.000	36.337
(b) Deferred tax liabilities (Net)	29.452	27.877	21.542
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	44.879	27.877	57.879
(4) Current Liabilities
(a) Short term borrowings	150.666	173.808	81.354
(b) Trade payables	8.869	20.814	4.089
(c) Other current liabilities	2.379	0.809	0.837
(d) Short-term provisions	2.822	2.154	1.006
Total Current Liabilities (4)	164.736	197.585	87.286
TOTAL	545.734	554.786	472.213
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	139.359	203.641	143.771
(ii) Intangible Assets	47.386	55.284	63.182
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.812	1.676	1.995
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	188.557	260.601	208.948
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	343.365	279.629	238.496
(d) Cash and cash equivalents	11.644	2.764	11.321
(e) Short-term loans and advances	2.168	11.792	13.448
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	357.177	294.185	263.265
TOTAL	545.734	554.786	472.213

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1105.619	904.074	775.112
		Other Income	0.357	0.426	(0.061)
		TOTAL	1105.976	904.500	775.051
Less	EXPENSES
		Purchase of Stock- In Trade	4.645	0.000	5.027
		Transportation Expenses	837.964	595.084	425.219
		Vehicle Operating Expenses	148.521	139.801	141.316
		Employees Benefits Expense	27.947	37.976	51.244
		Other Expenses	23.852	57.955	80.109
		Loss on Sales of Assets	0.104	0.000	0.000
		TOTAL	1043.033	830.816	702.915
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		62.943	73.684	72.136
Less	FINANCIAL EXPENSES		21.128	14.557	20.288
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		41.815	59.127	51.848
Less/ Add	DEPRECIATION/ AMORTISATION		28.494	48.363	46.578
	PROFIT/ (LOSS) BEFORE TAX		13.321	10.764	5.270
Less	TAX		6.527	8.489	(0.102)
	PROFIT/ (LOSS) AFTER TAX		6.794	2.275	5.372
	Earnings / (Loss) Per Share (Rs.)		0.36	0.06	0.15

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	0.61	0.25	0.69
Net Profit Margin (PBT/Sales)	(%)	1.20	1.19	0.68
Return on Total Assets (PBT/Total Assets}	(%)	2.44	1.94	1.12
Return on Investment (ROI) (PBT/Networth)		0.04	0.03	0.02
Debt Equity Ratio (Total Debt/Networth)		0.49	0.53	0.36
Current Ratio (Current Asset/Current Liability)		2.17	1.49	3.02

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	360.292	360.292	360.292
Reserves & Surplus	(33.244)	(30.968)	(24.173)
Net worth	327.048	329.324	336.119
long-term borrowings	36.337	0.000	15.427
Short term borrowings	81.354	173.808	150.666
Total borrowings	117.691	173.808	166.093
Debt/Equity ratio	0.360	0.528	0.494

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	775.112	904.074	1105.619
		16.638	22.293

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	775.112	904.074	1105.619
Profit	5.372	2.275	6.794
	0.69%	0.25%	0.61%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	No
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	No
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	No
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10475503	31/01/2014	15,500,000.00	PNB HOUSING FINANCE LIMITED	9TH FLOORANTRIKSH BHAWAN, 22 K G MARG, NEW DELHI,  Delhi - 110001, INDIA	B95455143
2	10242746	24/09/2010	770,000.00	KARNATAKA BANK LIMITED	F-27/28, SECTOR-18, NOIDA, Uttar Pradesh - 201301,  INDIA	A95689972
3	10098253	10/12/2012 *	185,500,000.00	STATE BANK OF INDIA	SME BRANCH, VATIKA FIRST INDIA PLACE, M G ROAD, G  URGAON, Haryana - 122002, INDIA	B65439549

OVERVIEW

India’s transportation sector is large and diverse and it caters to the needs of 1.2 billion people. The Indian transportation & logistics sector is increasingly become attractive to foreign and domestic operators as well as strategic and financial investors. No marketing, manufacturing or project execution can succeed without transport and logistics support. Logistics has existed since the beginning of civilization. Raw material and finished products had always to be moved, though on a small scale. Things began changing with the advance in transportation. Population began moving from rural to urban areas and to business centres. No longer did people live near production centres, nor did production take place near residence centres. The geographical distance between the production point and consumption point increased and logistics gained importance.

INDUSTRY STRUCTURE & DEVELOPMENT

The Transport and logistics sector in India has today become an area of priority. Onprime reason for the same stems from the reason that years of high growth in the Indian economy have resulted in a significant rise in the volume of freight traffic moved. This large volume of traffic has provided for growth opportunities in all facets of logistics including transportation, warehousing, freight forwarding, express cargo delivery, container services, shipping services etc. The growth path has also meant that increase demand is being placed on the sector to provide the solutions required for supporting future growth. Going forward it will not be wrong to say that the strength of the logistics sector is likely to be one of the key determinants of the pace of future growth of the economy

The sector is growing at the rate of 10% per annum. Several factors are helping the growth of transport and logistics industry in India over the decade that includes changing tax system, rapid growth in industries such as automobile, pharmaceuticals, FMCG and retail. However, major sectors that are investing huge amounts in logistics industry are metal & mining and consumer durables. With increasing competition and cost, focus on outsourcing, entry of foreign players is having positive impact on the industry. Three major contributors for the growth of the logistic industry are: emergence of organized retail, increase in foreign trade and India becoming soon the manufacturing hub.

The Economic liberalization and the relaxed FDI norms have been a tremendous help in the growth of the sector. The introduction of Value Added Tax (VAT) and the proposed introduction of a singular Goods and Services Tax (GST) are expected to significantly reduce the number of warehouses manufacturers are required to maintain in different states, thereby resulting in a substantial increase in demand for integrated logistics solutions.

Infrastructure is one of the biggest challenges faced by the Indian logistics sector and has been a major deterrent to its growth. Infrastructural problems like bad road conditions, poor connectivity, inadequate air and sea port capacities and lack of development of modes of transports like railways and alternates like inland water transport and domestic aviation have been constant irritants. Due to the infrastructural bottlenecks costs per transaction in Indian logistics sector is very much high compared to those in the developed markets. Less economy of scale due to high fragmentation of industry, lack of skilled labor and manpower are also one of the major challenges for the logistic sector.

OPPORTUNITIES AND THREATS

Signifi cant opportunities exist across every segment of the Indian Logistics Industry and several leading international logistics companies have entered already the Indian market, both through greenfi eld set - ups and acquisitions. To date, due to lack of scale in both supply and demand in the more value added elements of logistics, entry has often been into segments that have been perceived as relatively unattractive (such as FTL trucking). However, this can offer geographic network benefits, along with the key customer relationships which have the potential to be uptraded to more profit able services (such as warehousing).

The most important mode of transportation in India is Road, and this dominance arises from decades of poor supporting infrastructure development on the coastal, pipeline and air transportation side. Despite having one of the world’s largest rail networks, India’s share of cargo transported by rail has declined steadily from over 85 percent in the 1950s to around 30 percent presently. It is due to the poor quality of service, driven largely by the historic monopoly of the government in this vital mode of transportation, as well as massive investments in road highway projects over the past six decades which have enabled trucks to reach hitherto unconnected parts.

Despite this growth, the road transportation sector faces many challenges. The industry is highly fragmented, and with low entry barriers and it has seen significant commoditization leading to intense competition among truckers who find their realizations and margins continuing to be squeezed progressively.

Major threats impacting transportation:

1. Threat of New Entrants

2. Threat of substitutes

3. Bargaining power of consumers

4. Bargaining power of suppliers

5. Rivalry among competitors

OUTLOOK

The transportation market in India is expected to continue offering significant opportunities to all concerned stakeholders. However, for the sector to reach its full potential, the timing and economics would depend on how the various drivers and inhibitors evolve in future. While the quality of road infrastructure is certainly likely to improve, the pace of infrastructure development is critical to minimize losses, both economic and environmental. In particular, delays in meeting project timelines should be minimized, given that only around 52 percent (10.39 km as against the target 20 km in 2011–12) of the daily target of average road length to be constructed has been met. However, not only has the demand for road connectivity been rising, focus on improving basic road infrastructure as well as technology adoption has also increased in recent years. The number of expressways and highways has increased; many roads have been widened; electronic toll collection is becoming increasingly common; the ‘green channel’ concept

STATEMENT OF UN – AUDITITED FINACIAL RESULT (PROVISION) FOR THE QUARTER ENDED 30.06.2014

Sr. No		Particulars	Unaudited Quarter ended 30.06.2014
1		Income From Operations
		a. Net Sales/ Income from Operations (Net of Excise Duty)	290.330
		Revenue from Trading operation	3.947
		b. Other Operating Income	--
		Total Income from Operations (Net)	294.277
2		Expenditure
		a. Transportation expenses	222.629
		b. Purchase of Stock-in trade	3.655
		c. Vehicle Operating Expenses	46.665
		d. Employees Benefit Expenses	2.420
		e. Depreciation and Amortisation Expenses	7.178
		f. Other expenses	2.765
		Total Expenses	285.312
3		Profit from Operations before Other Income, Interest and Exceptional Items	8.965
4		Other Income	0.067
5		Profit from ordinary activities before finance cost & exceptional items	9.032
6		Finance Costs	6.262
7		Profit from ordinary activities after finance costs & exceptional items	2.770
8		Exceptional items	-
9		Profit from ordinary activities before tax	2.770
10		Tax Expense	0.856
		- Income Tax	-
		- Deferred Tax	-
11		Net Profit from ordinary activity after tax	1.914
12		Extraordinary Items	-
13		Net Profit After Tax	1.914
14		Paid-up equity share capital (face value of Rs.10 per share)	360.292
15		Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year	(22.259)
16		Earning Per Share (of Rs.10 each) (not annualized)
		Basic EPS	0.05
		Diluted EPS	0.05
A	PARTICULARS OF SHAREHOLDING
17	Public Shareholding
	- No. of shares		35329200
	- Percentage of shareholding		98.06
18	Promoter & Promoter Group Shareholding
	a) Pledged/Encumbered
	- No. of shares		Nil
	- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)		NA
	- Percentage of shareholding (as a % of the total share capital of the company)		NA
	b) Non-encumbered
	- No. of shares		700000
	- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)		100
	- Percentage of shareholding (as a % of the total share capital of the company)		1.94

Notes:

1. The above results were reviewed by the audit committee on its meeting held on 14.08.2014 and taken on record by the board of directors at their meeting held on 14 August 2014.
2. Information on investor complaints during the period from 1-04-2014 to 30-06-2014 Opening-Nil received-Nil Pending- Nil
3. Figure of previous quarter / year have been regrouped & rearranged wherever considered necessary.
4. Limited Review: The Limited Review by statutory auditors for quarter ended as required under clause 41 of the listing agreement has been completed and related report forwarded to the stock Exchange. This report does not have any impact on the above results and notes

FIXED ASSETS

• Computer
• Furniture
• Telephone Instrument
• Air Conditioner
• Honda City
• Commercial Vehicle
• Hyundai

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.57
UK Pound	1	Rs.100.42
Euro	1	Rs.78.44

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KRN
Report Prepared by :	ANU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.