MIRA INFORM REPORT

Report Date :

24.09.2014

IDENTIFICATION DETAILS

Name :	PATEL ENGINEERING LIMITED (w.e.f 09.12.1999)
Formerly Known As :	PATEL ENGINEERING COMPANY LIMITED
Registered Office :	Patel Estates V Road, Jogeshwari (West), Mumbai – 400102, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.04.1949
Com. Reg. No.:	11-007039
Capital Investment / Paid-up Capital :	Rs. 76.810 Millions
CIN No.: [Company Identification No.]	L99999MH1949PLC007039
TAN No.: [Tax Deduction & Collection Account No.]	MUMP02050G MUMP00205C
PAN No.: [Permanent Account No.]	AAACP2567L
Legal Form :	A Public Limited Liability Company. The company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Construction of tunnels, dams, bridges, buildings, power stations, marine works etc.
No. of Employees :	1310 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 64600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There seems some dip in the turnover and profit of the company during F.Y.2014 However, net worth of the company is good. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct and as per commitment. The company can be considered normal for business dealing s 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 – 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 slowly 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 Electro herm 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 Blue Ridge 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 willfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

On Mobile 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.

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. Prakash Patel
Designation :	Accounts Manager
Contact No.:	91-22-26767660
Date :	19.09.2014

LOCATIONS

Registered Office :	Pate Estates V Road, Jogeshwari (West), Mumbai – 400102, Maharashtra, India
Tel. No.:	91-22-26767500 / 501
Fax No.:	91-91-22-26782455/26781505
E-Mail :	prakash.patel@pateleng.com Shobha.shetty@pateleng.com headoffice@pateleng.com info@pateleng.com investors@pateleng.com
Website :	www.patelengineering.in www.pateleng.com

DIRECTORS

As on: 31.03.2014

Name :

Mr. Pravin Arjunbhai Patel

Designation :

Whole-Time Director

Address :

A.K. Abdul Razzak Patel Bungalow 5-D Dadabhai Road, Santacruz (West), Mumbai 400054, Maharashtra, India

Date of Birth/Age :

03.01.1937

Date of Appointment :

27.09.2013

DIN No.:

00029453

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	U28920MH1973PTC016432	PRAHAM INDIA PRIVATE LIMITED	Director	28/03/1973	28/03/1973	-	Converted to LLP and dissolved	NO
2	L99999MH1949PLC007039	PATEL ENGINEERING LIMITED	Whole-time director	27/09/2013	29/08/1989	-	Active	NO
3	U70100MH1996PLC102612	PATEL ENERGY LIMITED	Director	17/09/1996	17/09/1996	02/04/2007	Active	NO
4	U45203MH1999PLC120403	ASI - RCC INDIA LIMITED	Director	18/06/1999	18/06/1999	-	Active	NO
5	U45200MH1981PTC024198	CORAL CONSTRUCTION PRIVATE LIMITED.	Director	01/04/2005	01/04/2005	-	Active	NO
6	U70100MH2000PTC127553	NADHAL LANDS PRIVATE LIMITED	Director	30/04/2005	30/04/2005	11/11/2011	Active	NO
7	U45200MH2005PTC156007	LANDVIEW INDIA PRIVATE LIMITED	Director	13/09/2005	13/09/2005	-	Active	NO
8	U45200MH2005PTC158493	PATEL PATRON PRIVATE LIMITED	Director	30/12/2005	30/12/2005	-	Active	NO
9	U45300MH1973PTC016515	MICHIGAN ENGINEERS PVT LTD	Director	29/07/2006	29/07/2006	-	Active	NO
10	U40108TG2006PLC067638	PEL POWER LIMITED	Director	05/09/2006	05/09/2006	15/04/2014	Active	NO
11	U45201MH2006PTC164317	PHEDRA PROJECTS PVT. LTD.	Director	05/09/2006	05/09/2006	-	Active	NO
12	U70200MH2007PLC167118	PATEL REALTY (INDIA) LIMITED	Director	26/02/2007	26/02/2007	13/11/2013	Active	NO
13	U51909MH2007PTC167522	ZEUS MINERALS TRADING PRIVATE LIMITED	Director	03/04/2007	03/04/2007	01/03/2013	Active	NO
14	U45400MH2007PTC170089	NIRVANA LANDS PRIVATE LIMITED	Director	19/04/2007	19/04/2007	-	Active	NO
15	U45200MH2007PTC172404	AABHA LAND PROJECTS PRIVATE LIMITED	Director	16/07/2007	16/07/2007	-	Active	NO
16	U14200MH2008PTC178210	PATEL CONCRETE & QUARRIES PRIVATE LIMITED	Director	24/01/2008	24/01/2008	01/10/2012	Active	NO
17	U70102MH2008PTC180315	SENTA PROJECT DEVELOPERS PRIVATE LIMITED	Director	19/03/2008	19/03/2008	-	Strike off	NO
18	U70200MH2008PTC180370	SKYE PROJECT DEVELOPERS PRIVATE LIMITED	Director	24/03/2008	24/03/2008	-	Strike off	NO
19	U70102MH2008PTC180422	AZRA LAND PROJECTS PRIVATE LIMITED	Director	25/03/2008	25/03/2008	-	Active	NO
20	U70200MH2008PTC180434	ADDO LAND PROJECTS PRIVATE LIMITED	Director	26/03/2008	26/03/2008	-	Strike off	NO
21	U40300MH2008PTC181452	PATEL ENERGY TRADING PRIVATE LIMITED	Director	23/04/2008	23/04/2008	12/06/2008	Strike off	NO
22	U40101UP2008PTC049630	DIRANG ENERGY PRIVATE LIMITED	Director	23/06/2008	23/06/2008	15/02/2011	Active	NO
23	U40101UP2008PTC048287	WEST KAMENG ENERGY PRIVATE LIMITED	Director	26/06/2008	26/06/2008	15/02/2011	Active	NO
24	U40108MH2008PTC185929	SASKANG RONG ENERGY PRIVATE LIMITED	Director	19/08/2008	19/08/2008	-	Active	NO
25	U45201MH2006PTC164316	FUTURISTIC LANDS PRIVATE LIMITED	Director	18/08/2011	18/08/2011	-	Active	NO
26	U45201MH2006PLC162858	PATEL ENGINEERING INFRASTRUCTURE LIMITED	Director	31/08/2012	01/02/2012	-	Active	NO
27	U45209TG2012PTC078886	PBSR DEVELOPERS PRIVATE LIMITED	Additional director	15/09/2012	15/09/2012	01/07/2013	Active	NO
28	U45400MH2007PTC171048	VISMAYA CONSTRUCTIONS PRIVATE LIMITED	Director	14/08/2013	01/10/2012	-	Active	NO
29	U45400MH2007PTC171064	BHOOMA REALTIES PRIVATE LIMITED	Director	14/08/2013	01/10/2012	-	Active	NO
30	U45201MH2006PTC164318	PANDORA INFRA PRIVATE LIMITED	Director	14/08/2013	01/10/2012	-	Active	NO
31	U70101DL2009PTC193609	PAN REALTORS PRIVATE LIMITED	Director	30/09/2013	27/11/2012	-	Active	NO
32	U45200MH2008PTC182108	BELLEHOME PRIVATE LIMITED	Director	11/03/2013	11/03/2013	01/07/2013	Active	NO
33	AAA-1612	CARTERS ONE DEVELOPERS LLP	Designated Partner	17/06/2010	17/06/2010	-	Active	NO
34	AAA-2651	PATEL CORPORATION LLP	Designated Partner	29/10/2010	29/10/2010	-	Active	NO
35	AAA-2865	PRAHAM INDIA LLP	Designated Partner	23/11/2010	23/11/2010	-	Active	NO
36	AAA-3324	IPANEMA RESIDENCE LLP	Designated Partner	07/01/2011	07/01/2011	-	Active	NO
37	AAA-3532	BKC BUSINESS CENTRE LLP	Designated Partner	25/01/2011	25/01/2011	-	Active	NO

Name :

Mr. Rupen Pravin Patel

Designation :

Managing Director

Address :

A.K.Patel Bungalow 5-D Dadabhai Road, Santacruz (West), Mumbai 400054, Maharashtra, India

Date of Birth/Age :

24.08.1966

Date of Appointment :

01.04.2014

DIN No.:

00029583

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	U28920MH1973PTC016432	PRAHAM INDIA PRIVATE LIMITED	Director	24/08/1987	24/08/1987	-	Converted to LLP and dissolved	NO
2	U31300MH1981PTC025056	ADVANCED MAGNETICS PRIVATE LIMITED	Director	01/03/1990	01/03/1990	01/10/2010	Active	NO
3	U70100MH1989PTC050515	PATEL CORPORATION PRIVATE LIMITED	Director	16/08/1995	16/08/1995	-	Converted to LLP and dissolved	NO
4	L99999MH1949PLC007039	PATEL ENGINEERING LIMITED	Managing director	01/04/2014	26/10/1995	-	Active	NO
5	U92100MH2005PLC150430	SEVEN ENTERTAINMENT LIMITED	Director	05/01/2005	05/01/2005	30/04/2006	Under Process of Striking off	NO
6	U70100MH2005PTC157559	PATEL ENGINEERS PRIVATE LIMITED	Director	25/11/2005	25/11/2005	-	Active	NO
7	U45200MH2005PTC158079	SHREEANANT CONSTRUCTION PRIVATE LIMITED	Director	15/12/2005	15/12/2005	-	Active	NO
8	U45200MH2005PTC158493	PATEL PATRON PRIVATE LIMITED	Director	30/12/2005	30/12/2005	-	Active	NO
9	U45201MH2006PLC162856	PATEL KNR INFRASTRUCTURES LIMITED	Director	26/06/2006	26/06/2006	01/03/2011	Active	NO
10	U45201MH2006PLC162858	PATEL ENGINEERING INFRASTRUCTURE LIMITED	Director	26/06/2006	26/06/2006	15/03/2011	Active	NO
11	U45300MH1973PTC016515	MICHIGAN ENGINEERS PRIVATE LIMITED	Director	29/07/2006	29/07/2006	-	Active	NO
12	U45201MH2006PTC164318	PANDORA INFRA PRIVATE LIMITED	Director	05/09/2006	05/09/2006	05/01/2007	Active	NO
13	U40108TG2006PLC067638	PEL POWER LIMITED	Director	05/09/2006	05/09/2006	05/01/2007	Active	NO
14	U45201MH2006PTC164317	PHEDRA PROJECTS PRIVATE LIMITED.	Director	05/09/2006	05/09/2006	05/01/2007	Active	NO
15	U45201MH2006PTC164319	ARSEN INFRA PRIVATE LIMITED	Director	05/09/2006	05/09/2006	01/10/2010	Active	NO
16	U51109MH2007PTC166783	HEBE INFRACON PRIVATE LIMITED	Director	06/01/2007	06/01/2007	01/10/2010	Active	NO
17	U51103MH2007PTC166822	TERMINUS REALCON PRIVATE LIMITED	Director	08/01/2007	08/01/2007	01/10/2010	Strike off	NO
18	U70109MH2007PTC166825	HERA REALCON PRIVATE LIMITED	Director	08/01/2007	08/01/2007	01/10/2010	Active	NO
19	U70109MH2007PTC166898	LUCINA REALTORS PRIVATE LIMITED	Director	10/01/2007	10/01/2007	09/02/2007	Active	NO
20	U70200MH2007PLC166899	BELLONA ESTATE DEVELOPERS LIMITED	Director	10/01/2007	10/01/2007	09/02/2007	Active	NO
21	U72300MH2007PTC167059	ARES INFRADEVELOPERS PRIVATE LIMITED	Director	17/01/2007	17/01/2007	09/03/2007	Strike off	NO
22	U70200MH2007PLC167118	PATEL REALTY (INDIA) LIMITED	Additional director	13/11/2013	18/01/2007	-	Active	NO
23	U51909MH2007PTC167522	ZEUS MINERALS TRADING PRIVATE LIMITED	Director	03/02/2007	03/02/2007	02/07/2007	Active	NO
24	U45200MH2007PTC167521	APOLLO BUILDWELL PRIVATE LIMITED	Director	03/02/2007	03/02/2007	01/10/2010	Active	NO
25	U45400MH2007PTC171064	BHOOMA REALTIES PRIVATE LIMITED	Director	22/05/2007	22/05/2007	02/07/2007	Active	NO
26	U45400MH2007PTC171048	VISMAYA CONSTRUCTIONS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	02/07/2007	Active	NO
27	U45400MH2007PTC171050	NIRMAN CONSTRUCTIONS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	02/07/2007	Active	NO
28	U70102MH2007PTC171886	SHASHVAT LAND PROJECTS PRIVATE LIMITED	Director	21/06/2007	21/06/2007	02/07/2007	Active	NO
29	U40108MH2008PTC185929	SASKANG RONG ENERGY PRIVATE LIMITED	Director	19/08/2008	19/08/2008	01/10/2010	Active	NO
30	U72900MH2009PTC193475	ENERGY DESIGN PRIVATE LIMITED	Director	22/06/2009	22/06/2009	-	Active	NO
31	U80301MH2009NPL196725	ARPAN WELFARE FOUNDATION	Director	28/10/2009	28/10/2009	-	Active	NO
32	U70102TG2006PLC049949	PATEL KNR HEAVY INFRASTRUCTURES LIMITED	Director	25/09/2010	01/06/2010	01/03/2011	Active	NO
33	U40108UP2010PTC042685	PATEL HYDRO POWER PRIVATE LIMITED	Director	29/11/2010	29/11/2010	-	Active	NO
34	U40102TG2011PTC072720	PATEL THERMAL ENERGY PRIVATE LIMITED	Director	18/02/2011	18/02/2011	15/04/2014	Active	NO
35	U45400MH2012PLC234318	CAPACIT'E INFRAPROJECTS LIMITED	Director	06/11/2012	06/11/2012	18/04/2014	Active	NO
36	AAA-2651	PATEL CORPORATION LLP	Designated Partner	29/10/2010	29/10/2010	-	Active	NO
37	AAA-2865	PRAHAM INDIA LLP	Designated Partner	23/11/2010	23/11/2010	-	Active	NO

Name :

Mr. Krishnamoorthy Kannan

Designation :

Director

Address :

576-B, Mahesh, Jame Jamshedji Road, Matunga, Mumbai -400019, Maharashtra, India

Date of Birth/Age :

17.11.1939

Date of Appointment :

04.08.2005

Name :

Mr. Khizer Abdul Razzak Ahmed

Designation :

Director

Address :

C-34, 1st Floor, Malviya Nagar, New Delhi 100 017, India

Date of Birth/Age :

15.01.1940

Date of Appointment :

04.08.2005

Name :

Mr. Srinivasa Jambunathan

Designation :

Director

Address :

9, Prakash Co-op. Hsg. Society, Relief Road, Daulat Nagar, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

01.05.1938

Date of Appointment :

30.03.2009

Name :

Ms. Silloo Patel,

Designation :

Whole Time Director and Chief Finance Officer

Address :

5A, Monisha, St.Andrews Road, Bandra, Mumbai 400 050, Maharashtra, India

Date of Birth/Age :

14.05.1947

Date of Appointment :

01.09.2011

DIN No.:

00029656

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	U70100MH1989PTC050515	PATEL CORPORATION PRIVATE LIMITED	Director	31/01/1989	31/01/1989	-	Converted to LLP and dissolved	NO
2	L99999MH1949PLC007039	PATEL ENGINEERING LIMITED	Whole-time director	01/09/2011	19/10/1992	-	Active	NO
3	U70100MH1996PLC102612	PATEL ENERGY LIMITED	Director	18/02/1997	18/02/1997	01/02/2012	Active	NO
4	U70100MH2005PTC157559	PATEL ENGINEERS PRIVATE LIMITED	Director	25/11/2005	25/11/2005	-	Active	NO
5	U45201MH2006PLC162858	PATEL ENGINEERING INFRASTRUCTURE LIMITED	Director	26/06/2006	26/06/2006	01/02/2012	Active	NO
6	U45201MH2006PTC164314	PRAVAL DEVELOPERS PRIVATE LIMITED.	Director	05/09/2006	05/09/2006	01/02/2012	Active	NO
7	U45201MH2006PTC164319	ARSEN INFRA PRIVATE LIMITED	Director	05/09/2006	05/09/2006	01/02/2012	Active	NO
8	U51109MH2007PTC166783	HEBE INFRACON PRIVATE LIMITED	Director	06/01/2007	06/01/2007	01/02/2012	Active	NO
9	U70109MH2007PTC166825	HERA REALCON PRIVATE LIMITED	Director	08/01/2007	08/01/2007	01/02/2012	Active	NO
10	U51103MH2007PTC166822	TERMINUS REALCON PRIVATE LIMITED	Director	08/01/2007	08/01/2007	-	Strike off	NO
11	U70109MH2007PTC166898	LUCINA REALTORS PRIVATE LIMITED	Director	10/01/2007	10/01/2007	01/02/2012	Active	NO
12	U70200MH2007PLC166899	BELLONA ESTATE DEVELOPERS LIMITED	Director	10/01/2007	10/01/2007	01/02/2012	Active	NO
13	U72300MH2007PTC167059	ARES INFRADEVELOPERS PRIVATE LIMITED	Director	17/01/2007	17/01/2007	-	Strike off	NO
14	U70200MH2007PLC167118	PATEL REALTY (INDIA) LIMITED	Director	18/01/2007	18/01/2007	01/02/2012	Active	NO
15	U45200MH2007PTC167521	APOLLO BUILDWELL PRIVATE LIMITED	Director	03/02/2007	03/02/2007	01/02/2012	Active	NO
16	U51909MH2007PTC167522	ZEUS MINERALS TRADING PRIVATE LIMITED	Director	03/02/2007	03/02/2007	-	Active	NO
17	U45400MH2007PTC171048	VISMAYA CONSTRUCTIONS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	02/07/2007	Active	NO
18	U45400MH2007PTC171050	NIRMAN CONSTRUCTIONS PRIVATE LIMITED	Director	22/05/2007	22/05/2007	02/07/2007	Active	NO
19	U45400MH2007PTC171064	BHOOMA REALTIES PRIVATE LIMITED	Director	22/05/2007	22/05/2007	02/07/2007	Active	NO
20	U70102MH2007PTC171886	SHASHVAT LAND PROJECTS PRIVATE LIMITED	Director	21/06/2007	21/06/2007	02/07/2007	Active	NO
21	U45209TG2012PTC078886	PBSR DEVELOPERS PRIVATE LIMITED	Additional director	15/09/2012	15/09/2012	01/07/2013	Active	NO
22	U14200MH2008PTC178210	PATEL CONCRETE AND QUARRIES PRIVATE LIMITED	Director	25/09/2013	01/10/2012	-	Active	NO
23	U40101MH2008PTC184030	PATEL ENERGY ASSIGNMENT PRIVATE LIMITED	Director	06/08/2013	06/08/2013	15/04/2014	Active	NO

Name :

Mr. Nimish Patel

Designation :

Whole Time Director

Address :

`Sharda’ 51, Hatkesh Society, 7th Road, JVPD Scheme, Vile Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

28.02.1970

Date of Appointment :

01.02.1999

Name :

Mr. Sharad Zalawadia

Designation :

Director

Name :

Mr. ashwin Parmar

Designation :

Whole Time Director

KEY EXECUTIVES

Name :	Ms. Shetty Ranjit Shobha
Designation :	Company Secretary
Address :	404, Sylvan Apartment Pitamber Lane Mahim, Mumbai 400016, Maharashtra, India
Date of Birth/Age :	26.03.1976
Date of Appointment :	01.10.2003
Pan No.:	AAQPS3031B
Name :	Mr. Prakash Patel
Designation :	Accounts Manager
Audit Committee :	· Mr. Krishnamoorthy Kannan (Chairman) · Mr. Pravin Patel · Mr. Khizer Ahmed
Stakeholder’s Relationship Committee:	Mr. Krishnamoorthy Kannan Mr. Khizer Ahmed. Mr. Srinivasa Jambunathan
Remuneration Committee :	· Mr. Khizer Ahmed (Chairman) · Mr. Pravin Patel · Mr. Krishnamoorthy Kannan · Mr. Srinivasa Jambunathan

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.06.2014

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	3473750	4.52
Bodies Corporate	35409681	46.1
Sub Total	38883431	50.63
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	38883431	50.63
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	12192	0.02
Financial Institutions / Banks	1261118	1.64
Insurance Companies	2266764	2.95
Foreign Institutional Investors	474995	0.62
Sub Total	4015069	5.23
(2) Non-Institutions
Bodies Corporate	4885248	6.36
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	14850648	19.34
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	5252044	6.84
Any Others (Specify)	8919842	11.61
Clearing Members	713843	0.93
Non Resident Indians	788434	1.03
Directors & their Relatives & Friends	1370958	1.78
Trusts	6046607	7.87
Sub Total	33907782	44.15
Total Public shareholding (B)	37922851	49.37
Total (A)+(B)	76806282	100
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0
(1) Promoter and Promoter Group	0	0
(2) Public	0	0
Sub Total	0	0
Total (A)+(B)+(C)	76806282	100.00

BUSINESS DETAILS

Line of Business :

Construction of tunnels, dams, bridges, buildings, power stations, marine works etc.

GENERAL INFORMATION

No. of Employees :

1310 (Approximately)

Bankers :

· ICICI Bank Limited

· Bank of India

· Dena Banks

· Canara Bank

· Bank of Baroda

· Industrial Development Bank of India Limited

· Union Bank of India

· Corporation Bank

· State Bank of Patiala

· Axis Bank Limited

· Standard Chartered Bank

· Bank of Maharashtra

· DBS Bank Limited

Facilities :

(Rs in Millions)

Secured Loan	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Debentures	4000.000	4950.000
Term Loans
- From Bank	8153.180	6084.600
From Others	258.950	366.630
SHORT TERM BORROWINGS
Short Term Loans From Bank	4541.530	500.000
Loans Repayable on Demand From Bank	12066.130	11100.510
Total	29019.790	23001.740

1. Debentures:-

a) 9.8% Secured Redeemable Non-convertible Debentures was allotted on July 20, 2009 for a period of 7 years. These debentures have a face value of Rs.1.000 Million each aggregating to Rs. 900.000 Millions (P.Y. Rs. 900.000 Millions) and are to be redeemed on July 20, 2016 in a single instalment, with a put / call option available and exercisable at par at the end of 5th year from the date of allotment i.e. July 20, 2014. The same is secured against immovable property of the Company.

b) 9.55% Secured Redeemable Nonconvertible Debentures was allotted on April 26, 2010 for a period of 5 years. These debentures have a face value of Rs. 1.000 Million each aggregating Corporate Overview Board and Management Reports Financial Statements Annual Report 2013-14 41to Rs. 700.000 Millions (P.Y. Rs. 1,000.00 Millions). These Debentures will be redeemed as follows - April 26, 2014- Rs. 300.000 Millions, and April 26, 2015- Rs. 400.000 Millions. The same is secured against immovable property and subservient charge on all the Fixed Assets of the Company.

c) 10.75% Secured Redeemable Non-convertible Debentures was allotted on March 3, 2011 for a period of 5 years. These debentures have a face value of Rs. 0.100 Million each aggregating to Rs. 350.000 Millions (P.Y. Rs. 500.000 Millions). These Debentures will be redeemed as follows- March 3, 2015 – Rs. 150.000 Million and March 3, 2016- Rs. 200.000 Millions. The same is secured against immovable property and subservient charge on all the Fixed Asset of the Company. Interest rate has been revised to 13% (P.Y. 12%) w.e.f. October 18, 2013.

d) 11.40% Secured Redeemable Non-convertible Debentures was allotted on July 11, 2011 for a period of 5 years. These debentures have a face value of Rs. 0.100 Million each aggregating to Rs. 1,500.000 Millions. These Debentures will be redeemed as follows- July 11, 2014 – Rs.500.000 Millions, July 11, 2015 Rs. 500.000 Millions and July 11, 2016 Rs. 500.000 Millions. The same is secured against immovable property of the Company and its subsidiaries. Interest rates revised to 13% w.e.f. October 2013.

e) 11.30% Secured Redeemable Non-convertible Debentures was allotted on September 17, 2012 for a period of 10 years. These debentures have a face value of Rs. 1.000 Million each aggregating to Rs. 1,500.000 Millions and are to be redeemed in September 17, 2022. The same is secured against charge on immovable assets of the Company and of its subsidiaries.

f) 14.00% Secured Redeemable Non-convertible Debentures was allotted on October 18, 2012 for a period of 4 years. These debentures have a face value of Rs. 1.000 Million each aggregating to Rs. 1,200.000 Millions and are to be redeemed in October 17, 2016. The same is secured against charge on immovable asset of the company and third party security. The above debentures are listed on The National Stock Exchange of India Ltd. As per Section 117C of the Companies Act, 1956 the Company has created adequate Debenture Redemption Reserve for both the above series of Secured Redeemable Non-convertible Debenture issued during the year. Further, in terms of clarification vide circular no. 04/2013 dated 11.2.2013 issued by the Ministry of Corporate Affairs, Government of India, the Company had not made the required deposit/ investment to secure the repayment of debentures maturing during 2013-14. However, the Company has redeemed/paid all its debentures maturing in 2013-14 in time.

2. Term Loan Banks

A) The Term loans are secured by first charge on the specific assets acquired out of the term loan along with unencumbered assets & guarantees. The rate of Interest for these loans vary between 10%- 14% on an average, with agree payment period of 3-5 years respectively. Term Loan include Working Capital Term Loan secured by a First Pari-passu charge on the receivables and WIP, mortgage over certain Lands owned by Subsidiary companies and pledge of 30% & 99.998% shareholding of subsidiaries owning real estate Lands. The Promoters Mr. Pravin Patel and Mr. Rupen Patel has provided personal guarantees for the above loan. Subsequently, the Company has counter indemnified the guarantees provided by the Promoters.

B) Includes term loans of Rs.107.610 Millions (P.Y. Rs. 85.320 Millions) are secured by Hypothecation of machinery & vehicles. Interest rate ranging between8.5% to 15%, and repayable in 2014 & 2015.

C) Includes term loans of Rs. 0.300 Million (P.Y. Rs. 0.720 Million) which carries interest at BPLR + 4% p.a. It will be repaid within 35 equated monthly Instalments. It is secured by way of Hypothecation of Computer system and personal guarantee of Directors of Capacit’e Infra Project Private Limited.

D) Includes Rs.17.870 Millions (P.Y. Rs. 21.590 Millions) which carries interest which ranging between 12% to 12.02% p.a. It Consist of 10 separate loans that will be repaid in 58 equated instalments. It is secured against hypothecation of equipment & exclusive charge on inventory cum book debts/other current assets.

E) Includes Rs. 998.760 Millions (USD 16,713,010) (P.Y. Rs. 693.810 Millions (USD 12,723,376)) which carries interest which ranging between LIBOR rate plus 3% to Libor rate plus 4.75%.It is secured against hypothecation of equipment & Receivables.

F) Loan From Development Bank of Singapore Rs. 597.580 Millions (USD 10,000,000) (P.Y. Rs. 545.300 Millions (USD 10,000,000)) is secured by a standby Letter of Credit issued by Industrial Development Bank of India Limited. Interest is charged at 4.41% to 5.58% (P.Y. 4.41% to 5.58%) per annum.

3. From Others

a) Includes funds from Financial Institutions on Equipments, secured against the said Equipments. These loans carry an interest rate of average between 10%- 13% on an average, with a repayment period of 3-5 years respectively.

a) Includes Rs. 563.730 Millions (P.Y. Rs. 359.720 Millions) secured by hypothecation of vehicles & equipment acquired from these loans. Interest rate ranging between 8.5% to13.5% (P.Y. 11% to 15%) and repayable between 2014 and 2015.

b) Includes Rs. 4.360 Millions (USD 73,054) (P.Y. ` Nil (USD Nil)) which carries interest which ranging between LIBOR rate plus 3% to Libor rate plus 4.75%. It is secured against hypothecation of equipment.

4. Unsecured Loans - From Bank Includes ` Nil (P.Y. Rs. 1,000 Million) Loans repayable within a period of 2 year scarrying an average Interest rate of 11-13% p.a. 5 Working Capital Loan) Includes loans of ` Nil (P.Y. Rs. 693.810 Millions), the Loan of USD Nil (P.Y. - USD 9,731,628) i.e. ` Nil (P.Y. Rs. 530.630 Millions), secured by a Account Receivable and equipment, Interest is charged at LIBOR plus 3% due July 2014 and the Loan of USD Nil (P.Y. USD 2,991,748) i.e. ` Nil (P.Y. Rs. 163.180 Million), secured by a Account Receivable and equipment, Interest is charged at LIBOR plus 4.75%.

Short Term Loan

1. From Bank

a) Includes Loans against Equipments Financed and by earmarking from bank Guarantee limits, at Interest rate of 12.25% -12.75% (P.Y. 12.25%) payable within a year.

b) Includes ` Nil (P.Y. Rs. 50.000 Millions ) secured by UDC/PDC from the company for repayment of the facility amount. Interest Rate 14.5% p.a.

c) Includes ` Nil (P.Y. 25.04) Loan from Indusind Banks which carries interest rates BPLR+3.25% p.a. It is secured by value of stock after excluding advance payment guarantees, sundry creditors & stock acquired under usance LC, Buyer’s Credit and procured on Credit under Stand by LC’s.

d) Loan against term Deposits from Corporation bank secured by term Deposits amounting to ` Nil (P.Y.Rs. 53.710 Millions) which carries interest ranging between 8% to13.25% (P.Y. 8% to 10%).

e) Company has availed short term loan facility from Axis bank which carries interest at Base rate +3 p.a. (presently 13.25%). The Loan has been secured by hypothecation charge of all the current assets and exclusive charge on certain parcel of land & flats of the Company.

f) Company has availed cash credit facility from Bank of Maharashtra which carries interest at Base rate +3.5 p.a. (presently 13.75%). The Loan has been secured by hypothecation charge of all the present & future current assets of the company and mortgage of certain parcel of land situated at electronic city, south Bangalore.

g) Working Capital Demand loan Includes Rs.260.000 Million (P.Y. ` 210 Million) secured by first pari-passu charges on the movable & immovable assets of the company excepts the assets specially charged for project/lease based finance. Interest rate 14% to 16% p.a.

h) Includes cash credit Rs.350.780 Millions (P.Y. Rs. 561.520 Millions) secured by first pari-passu charge on the movable & immovable assets of the company except the assets specifically charged for project/lase based finance and relevant term loan. Interest rate 14% to 16% p.a.

1. Loans Repayable on Demand:-

Includes Cash Credit and Working Capital Demand Loan from various Banks. These loans have been given against hypothecation of stocks, spare

parts, book debts, work in progress & guarantees;

Terms of Repayment :

· Cash Credit- Yearly Renewal, except for a Cash Credit taken from IDBI Bank Short Term Loan - EARMARK CC” which is payable within 90 days. Rate of Interest-Ranges between11% to 14%. (P.Y. 9.75% to 13.75%). Includes Overdraft from Bank of Baroda Rs. 93.780 Millions (P.Y. Rs. 49.460 Millions) is secured by Fixed deposit pledged with the bank.

2. Unsecured Loan - From Bank

- From Bank

· Includes loans from Banks which are payable at yearly rests with an average Interest cost ranging between 12.60% to13.75%(P.Y.11% -12%).

- From Others

· Includes loans from related parties carrying nil Interest rates, which are payable on demand. Such loan amount to be appropriated upon exercise of the option of conversion of Optional Convertible Preference Shares into Equity Shares.

Banking Relations :	--
Auditors :
Name :	Vatsaraj and Company Chartered Accountants
Address :	First Floor, Fort Chambers, "C"Block,65, Tamarind Lane, Fort, Mumbai-400 023, Maharashtra, India
PAN No.:	AACFV7282K
Related Parties :	· Patel Realty (India) Limited · Vismaya Constructions Private Limited · Patel Energy Resources Limited · Bhooma Realties Private Limited · Michigan Engineers Private Limited · Friends Nirman Private Limited · Shreeanant Construction Private Limited · Patel Concrete and Quarries Limited · Pan Realtors Private Limited · ASI Constructors Inc · Energy Design Private Limited · Patel Engineering Infrastructure Limited · Patel Lands Limited · Patel Engineering (Mauritius) Limited · Patel Patron Private Limited · Patel Engineering (Singapore) Private. Limited · Patel Engineers Private Limited · Patel Engineering Inc · Pandora Infra Private Limited · Patel Engineering Lanka Limited · Shashvat Land Projects Private Limited · Zeus Minerals Trading Private Limited (earlier known as Zeus Land Projects Private Limited)
Subsidiaries of Patel Realty (India) Limited :	· Bellona Estate Developers Limited · Nirman Constructions Private Limited · Hebe Infracon Private Limited · Azra Land Projects Private Limited · Hera Realcon Private Limited · Waterfront Developers Limited · Lucina Realtors Private Limited · Les Salines Development Limited · Apollo Buildwell Private Limited · La Bourgade Development Limited · Arsen Infra Private Limited · Ville Magnifique Development Limited · Praval Developers Private Limited · Sur La Plage Development Limited · Phedra Projects Private Limited · Waterfront Developers Limited · PBSR Developers Private Limited. · Nirmal Capacite Construction Private Limited · Capacit’e Engineering Private Limited · Capacit’e Infraprojects Private Limited
Subsidiaries of Patel Engineers Private Limited :	· Phedra Projects Private Limited
Subsidiaries of Patel Energy Resources Limited :	· Patel Hydro Power Private Limited · PEL Power Limited · Patel Energy Assignment Private Limited · Patel Energy Projects Private Limited · Patel Energy Operations Private Limited · Patel Thermal Energy Private Limited · Dirang Energy Private Limited · West Kameng Energy Private Limited · Digin Hydro Power Private limited PEL Port Private Limited. · Patel Energy Limited · Laksha Infra Projects Private Limited · Jayshe Gas Power Private Limited · Patel Urjaa Vyapaar Private Limited · Naulo Nepal Hydro Electric Private Limited. · Meyong Hydro Power Private Limited · Saskang Rong Energy Private Limited
Subsidiaries of ASI Constructors Inc:	· ASI Constructors Australia Private Limited · Engineering & Construction Innovations Inc · HCP Constructors Inc.
Subsidiaries of Patel Engineering (Singapore) Pte. Ltd.:	· Patel Surya (Singapore) Private Limited · Patel Param Energy Private Limited · PT PEL Minerals Resources · PT Patel Surya Jaya · Patel Param Minerals Private Limited · Patel Param Natural Resources Private Limited · PT Patel Surya Minerals Private Limited · Mineral Resources Holding Limited · PT Surya Geo Minerals · PT Patel Engineering Indonesia, Private Limited · PT Surpat Geo Minerals
	·
Subsidiaries of Patel Engineering (Mauritius) Ltd.	· Patel Mining (Mauritius) Limited · Metalline Mine Works,Lda. · Enrich Mining Vision Lda. · Patel Mining Assignments, Lda. · Patel Mining Privilege, Lda. · Chivarro Mines Mozambique,Lda. · Patel Infrastructure, Lda. · Fortune Mines Concession,Lda. · Trend Mining Projects,Lda. · Omini Mines Enterprises,Lda. · Accord Mines Venture,Lda. · Quest Mining Activities, Lda. · Netcore Mining Operations,Lda.
Subsidiaries of Patel Engineering Inc:	· ASI RCC Inc. · ASI RCC India Limited · Westcon Microtunelling Inc
Associates:	· Enpro Ltd. 4. Patel KNR Heavy Infrastructure Limited · Patel KNR Infrastructure Limited · Raichur Sholapur Transmission Company Limited. · ACP Tollways Private Limited · TERRA Land Developers Private Limited
Partnership:	· AHCL PEL · Patel Advance JV
Others:	· Patel Corporation LLP · Praham India LLP

CAPITAL STRUCTURE

As on: 30.03.2014

(A) Authorised Capital:

No. of Shares	Type	Value	Amount
230,000,000	Equity Shares	Rs.1/- each	Rs. 230.000 Millions
20,000,000	Preference shares	Rs.1/- each	Rs. 20.000Millions
250,000,000	Total		Rs.250.000 Millions

(B) Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
76,244,325	Equity Shares	Rs.1/- each	Rs. 76.240 Millions
561,957	Preference shares	Rs.1/- each	Rs. 0.570 Millions
76806282	Total		Rs. 76.810 Millions

(C) (I) Reconciliation of Equity Shares outstanding at the

Beginning and at end of the year:

69,827,151	Outstanding at the beginning of the year	Rs. 69.830 Millions
6,417,174	Add :- Issued during the year	Rs. 6.410 Millions
76,244,325	Outstanding at the end of the year	Rs. 76.240 Millions

(II) Reconciliation of Optionally Convertible Preference Shares

Outstanding at the beginning and at end of the year:-

-	Outstanding at the beginning of the year	-
6,979,131	Add :- Issued during the year	Rs. 6.980 Millions
6,417,174	Less:- Converted during the year	Rs. 6.410 Millions
561,957	Outstanding at the end of the year	Rs. 76.240 Millions

(D) Share held by each shareholder more than 5%

No. of Shares	Name of the shareholder	% holding
6,045,000	Patel Engineering Employees Welfare Trust	7.930
16,744,424	Praham India LLP	21.960
18,103,300	Patel Corporation LLP	23.740

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	76.810	69.830	69.830
(b) Reserves & Surplus	16066.910	14512.510	14073.230
(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)	16143.720	14582.340	14143.060
(3) Non-Current Liabilities
(a) long-term borrowings	12412.130	11401.230	7517.920
(b) Deferred tax liabilities (Net)	0.000	9.510	66.090
(c) Other long term liabilities	6907.690	3729.770	4840.910
(d) long-term provisions	32.440	41.830	14.560
Total Non-current Liabilities (3)	19352.260	15182.340	12439.480
(4) Current Liabilities
(a) Short term borrowings	20426.120	13449.600	11341.500
(b) Trade payables	5116.780	6260.070	6249.460
(c) Other current liabilities	6124.410	6121.760	5252.050
(d) Short-term provisions	15.360	22.750	31.530
Total Current Liabilities (4)	31682.670	25854.180	22874.540
TOTAL	67178.650	55618.860	49457.080
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2449.520	2938.220	2517.840
(ii) Intangible Assets	19.260	33.780	50.040
(iii) Capital work-in-progress	207.020	183.570	1035.560
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	5896.380	5711.640	5538.640
(c) Deferred tax assets (net)	31.040	0.000	7468.830
(d) Long-term Loan and Advances	12050.960	8094.980	14.040
(e) Other Non-current assets	9007.810	699.510	327.240
Total Non-Current Assets	29661.990	17661.700	16952.190
(2) Current assets
(a) Current investments	0.050	0.050	0.000
(b) Inventories	23196.990	19145.150	14794.530
(c) Trade receivables	3719.300	8008.610	8420.760
(d) Cash and cash equivalents	1072.430	1825.500	1503.350
(e) Short-term loans and advances	9520.910	8968.320	7692.240
(f) Other current assets	6.980	9.530	94.010
Total Current Assets	37516.660	37957.160	32504.890
TOTAL	67178.650	55618.860	49457.080

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	27039.550	31032.110	25496.420
		Other Income	1479.120	1079.730	938.330
		TOTAL (A)	28518.670	32111.840	26434.750
Less	EXPENSES
		Cost of Construction	21151.250	24670.020	20609.91
		Employees benefits expense	961.340	795.720	681.000
		Other expenses	1215.060	1152.260	779.200
		TOTAL (B)	23327.650	26617.000	22070.110
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5191.020	5493.840	4364.640
Less	FINANCIAL EXPENSES (D)		4286.290	4201.110	2880.820
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		904.730	1292.730	1483.820
Less/ Add	DEPRECIATION/ AMORTISATION (F)		542.290	525.480	528.210
	PROFIT BEFORE TAX (E-F) (G)		362.440	767.250	955.610
Less	TAX (H)		112.460	275.070	351.310
	PROFIT AFTER TAX (G-H) (I)		249.980	492.180	604.300
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (J)		4096.980	3601.040	3381.090
Add	Earlier year excess proposed dividend and dividend distribution tax (K)		981.310	0.000	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	75.000
		Transfer to (from) Debenture Redemption Reserve	108.750	(3.750)	285.000
		Final Dividend	0.000	0.000	20.950
		Corporate Dividend Tax	0.000	0.000	3.400
		Total (L)	108.750	(3.750)	384.350
	BALANCE CARRIED TO THE B/S		5219.520	4096.980	3601.040
	EARNINGS IN FOREIGN CURRENCY
		Contract Receipts	93.620	156.980	499.520
		At USA Office	0.000	0.010	0.010
	TOTAL EARNINGS		93.620	156.990	499.530
	IMPORTS
		Raw Materials	9.290	62.220	21.190
		Stores & Spares	0.370	56.390	0.000
		Capital Goods	76.660	82.660	17.830
	TOTAL IMPORTS		86.320	201.270	39.020
	Earnings Per Share (Rs.)		3.28	7.05	8.65

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	0.88	1.53	2.29
Net Profit Margin (PBT/Sales)	(%)	1.34	2.47	3.75
Return on Total Assets (PBT/Total Assets}	(%)	0.59	1.54	2.70
Return on Investment (ROI) (PBT/Networth)		0.02	0.05	0.07
Debt Equity Ratio (Total Debt/Networth)		2.03	1.70	1.33
Current Ratio (Current Asset/Current Liability)		1.18	1.47	1.42

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	69.830	69.830	76.810
Reserves & Surplus	14073.230	14512.510	16066.910
Net worth	14143.060	14582.340	16143.720
long-term borrowings	7517.920	11401.230	12412.130
Short term borrowings	11341.500	13449.600	20426.120
Total borrowings	18859.420	24850.830	32838.250
Debt/Equity ratio	1.333	1.704	2.034

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	25496.420	31032.110	27039.550
		21.712	(12.866)

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	25496.420	31032.110	27039.550
Profit	604.300	492.180	249.980
	2.37%	1.59%	0.92%

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	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

sStandalone: -

On Standalone basis, the total income was lower at Rs. 28,518.670 Millions as against Rs. 32,111.840 Million for the previous year. The profit before depreciation was lower by 30.00 % at Rs. 904.73 Million as against Rs. 1,292.740 Million for the previous year. The net profit was lower by 49.21% at Rs. 249.980 Million as against Rs. 492.190 Million for the previous year.

Management Discussion and Analysis:-

Performance Overview: -

In these severe economic conditions, the Company’s performance too was affected in the financial year ended March 31, 2014.

On consolidated basis:

• Revenue from Operations decreased by 10.05% to Rs. 37011.000 Million.

• Profit before tax stood at Rs. 459.970 Millions

• Net Profit is at Rs. 163.690 Millions as compared to the Rs. 650.03 Million for the previous year.

• The EPS (fully diluted) stood at Rs. 2.13 per share.

The order backlog from the engineering and construction business as on March 31, 2014 is about Rs. 119246.000 Million. The share in the order book stood at - power sector 41%, irrigation and water 32% and transportation, urban infrastructure and others at 27 %. Apart from the same we are also lowest bidders for ` 89900.000 million in state of J&K. There has been an unexpected delay in getting award letters for the said projects even after being declared as lowest bidders for the same. There has been an unexpected delay in getting award letters for the said projects even after being declared as lowest bidders for the same. The Company is confident that in the long term, there are vast opportunities in the industry and there will be a growth in new projects but some of the issues discussed earlier need to be resolved at an industry level to get back the growth momentum.

UNSECURED LOAN

Rs. In Millions

	As on 31.03.2014	As on 31.03.2013
SHORT TE RM BORROWINGS
From Bank	3786.710	1450.000
Commercial Papers - From Bank	31.750	399.090
Total	3818.460	1849.090

INDEX OF CHARGES:-

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10515207	11/08/2014	400,000,000.00	Standard Chartered Bank	Narain Manzil, 23, Barakhamba Road, New Delhi, Del  hi - 110001, INDIA	C16592719
2	10510432	30/06/2014	120,000,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, West Be  ngal - 700046, INDIA	C12222600
3	10518981	24/06/2014	13,000,000,000.00	GDA TRUSTEESHIP LIMITED	GDA House, First Floor, Plot No. 85, S. No. 94 &  95, Bhusari Colony (Right), Kothrud, Pune, Maharas  htra - 411038, INDIA	C19867621
4	10510376	13/06/2014	950,000,000.00	Bank of Baroda	Corporate Finance service Fort Branch, 4th Floor,,  10/12 Mumbai Samachar Marg, Mumbai, Maharashtra  - 400023, INDIA	C12308961
5	10509126	13/06/2014	4,400,000,000.00	Bank of Baroda	Corporate Finance service Fort Branch, 4th Floor,,  10/12 Mumbai Samachar Marg, Mumbai, Maharashtra  - 400023, INDIA	C11385739
6	10515303	04/06/2014	400,000,000.00	Standard Chartered Bank	Narain Manzil, 23, Barakhamba Road, New Delhi, Del  hi - 110001, INDIA	C16668287
7	10484838	22/03/2014	1,500,000,000.00	BANK OF MAHARASHTRA	Industrial Finance Branch, Apeejay House, Dr.V.B.  Gandhi Marg, Mumbai, Maharashtra - 400001, INDIA	C00492660
8	10485592	22/03/2014	3,300,000,000.00	BANK OF MAHARASHTRA	Industrial Finance Branch, Apeejay House, Dr.V.B.  Gandhi Marg, Mumbai, Maharashtra - 400001, INDIA	C00738260
9	10483834	18/03/2014 *	1,000,000,000.00	GDA TRUSTEESHIP LIMITED	GDA House, First Floor, Plot No. 85, S. No. 94 &  95, Bhusari Colony (Right), Kothrud, Pune, Maharashtra - 411038, INDIA	C00451807
10	10483833	27/03/2014 *	975,000,000.00	THE RATNAKAR BANK LIMITED	SHAHUPURI,KOLHAPUR,, KOLHAPUR, Maharashtra - 41600  1, INDIA	C00848820

Date of charge modification

FIXED ASSETS:

• Land
• Building
• Factory building
• Plant and Machinery
• Motor car
• Motor truck
• Motor Cycle
• Rails and Trolly
• Ship
• Furniture
• Office equipment
• Computer/Software
• Electric equipment

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.60.80
UK Pound	1	Rs.100.06
Euro	1	Rs.78.49

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	DIV
Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.