MIRA INFORM REPORT

Report Date :

26.09.2014

IDENTIFICATION DETAILS

Name :	RELIANCE PORTS AND TERMINALS LIMITED
Registered Office :	Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar - 361140, Gujarat
Country :	India
Financials (as on) :	30.06.2013
Date of Incorporation :	14.03.1997
Com. Reg. No.:	04-031906
Capital Investment / Paid-up Capital :	Rs. 3220.000 Millions
CIN No.: [Company Identification No.]	U45102GJ1997PLC031906
PAN No.: [Permanent Account No.]	AABCR3878B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Port and Marine Facilities, Transportation and Logistics, Construction and Engineering, SEZ Co-development and Pipeline Infrastructure Facilities.
No. of Employees :	Information denied by the management

RATING & COMMENTS

MIRA’s Rating :

Aa (77)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of Reliance Group. It is a well-established and reputed company having an excellent track record. The company is incurring losses from two years however the company receives strong financial and managerial support from its group companies. Net worth of the company is sound. Directors are reported to be well experienced and respectable businessman. Trade relations are reported as fair. Business is active. Payment are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

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

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	CARE
Rating	Bank facilities – Fund Based – LT Term Loan (AAA)
Rating Explanation	Highest degree of safety and carry lowest credit risk.
Date	December 17, 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 DECLINED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-29770000)

LOCATIONS

Registered Office :	Admin Building, MTF Area, Village Sikka, Taluka and District Jamnagar - 361140, Gujarat, India
Tel. No.:	91-288-2313641
Fax No.:	Not Available
E-Mail :	geeta.fulwadaya@ril.com rina.padalia@ril.com
Website :	www.ril.com
Corporate Office :	3^rd Floor, Maker Chambers, IV 222, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel No.:	91-22-22785500
Fax No.:	91-22-22785560

DIRECTORS

As on 31.12.2013

Name :	Mr. Raja Kolumum Ramachandran
Designation :	Director
Address :	1703/ 1704, Building 1, Raheja Classique, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Birth/Age :	19.12.1956
Qualification :	B Sc, CA, ICWA
Date of Appointment :	29.12.2007
DIN No.:	00006673
Name :	Mr. Subhashchandra Anantram Malhotra
Designation :	Director
Address :	602, Tulsi Shyam CHS, Limited, Highway Junction Road, Wagle Estate, Thane (West), Thane - 400604, Maharashtra, India
Date of Birth/Age :	13.11.1940
Qualification :	Graduate in Mechanical Engineer
Date of Appointment :	23.03.1997
DIN No.:	00013967
Name :	Mr. Sandeep Junnarkar Hemendra
Designation :	Director
Address :	Flat No.1702, Wallace Apartments, Naushir Bharucha Marg, Mumbai - 400007, Maharashtra, India
Date of Birth/Age :	02.07.1951
Qualification :	B Sc, Post Graduate degree in Law
Date of Appointment :	23.03.1997
DIN No.:	00003534
Name :	Bhadri Prasad Yepuri
Designation :	Director
Address :	Sector No. 22, House No. 25/D, Reliance Greens, Motikhavdi, Jamnagar – 361142, Gujarat, India
Date of Birth/Age :	02.01.1958
Qualification :	B.Tech (Chemical)
Date of Appointment :	30.03.2013
DIN No.:	06526111

KEY EXECUTIVES

Name :	Mr. Vishvanath Rachappa Indi
Designation :	Manager
Address :	Reliance Greens House No. 26, Sector 3, Village Motikhavdi, P.O. Digvijaygram, Jamnagar - 361140, Gujarat, India
Date of Birth/Age :	17.03.1959
Qualification :	MBA-Finance, MTech-Civi, BTech-Civil
Date of Appointment :	01.05.2007
PAN No.:	AADPI6022K
Name :	Mrs. Geeta Kalyandas Fulwadaya
Designation :	Secretary
Address :	E–51, Jharokha II, Kalptaru Vatika, Akurli Road, Opposite ESIS Hospital, Kandivali (East), Mumbai – 400101, Maharashtra, India
Date of Birth/Age :	17.11.1980
Date of Appointment :	20.03.2006
PAN No.:	AAFPF7961G
Name :	Mr. A. Poddar
Designation :	Senior Vice President
Name :	Mr. D Murali
Designation :	President
Name :	Mr. Giri Raj Singh
Designation :	Senior Vice President
Name :	Mr. C.V.S.K. Prasad
Designation :	Senior Vice President
Name :	Mr. Navin Patel
Designation :	Senior Vice President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2013

Names of Equity Shareholders [Physical Mode]	No. of Shares
Reliance Industries Holding Private Limited, India	639999999
Rajeev Mittal jointly with Reliance Industries Holding Private Limited, India	1
Sanjeev Dandekar jointly with Reliance Industries Holding Private Limited, India	1
Priyen Shah jointly with Reliance Industries Holding Private Limited, India	1
Reliance Property Management Services Private Limited, India jointly with Reliance Industries Holding Private Limited, India	1
Hitesh Vora jointly with Reliance Industries Holding Private Limited, India	1
Satish Parikh jointly with Reliance Industries Holding Private Limited, India	1
Total	640000005

Names of Equity Shareholder [Electronic Mode]	No. of Shares
Reliance Industries Holding Private Limited, India	2109999995
Total	2109999995

Names of Preference Shareholder [Physical Mode]	No. of Shares
Leisure Life Commercials Private Limited, India	47000000
Total	47000000

As on 31.12.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Port and Marine Facilities, Transportation and Logistics, Construction and Engineering, SEZ Co-development and Pipeline Infrastructure Facilities.

Products :

Item Code No. (ITC Code)	Product Description
99675111	Port services

GENERAL INFORMATION

No. of Employees :

Information denied by the management

Bankers :

· Indian Bank, United India Building, Sir P. M. Road, Fort, Mumbai - 400001, Maharashtra, India

IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

· Axis Bank Limited, Axis House, 2E, Bombay Dyeing Mills Compound, PB Marg, Worli, Mumbai - 400025, Maharashtra, India

Facilities :

SECURED LOANS	30.06.2013 (Rs. In Millions)	30.06.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Non-convertible debentures others	75000.000	35000.000
Rupee term loans from banks	6834.200	11370.800
Foreign currency term loans from banks	11201.000	15210.700
Rupee term loans from others	659.900	1182.900
Total	93695.100	62764.400

NOTE:

1) 8.45% Secured Redeemable Non-Convertible Debentures- PPD 5 aggregating Rs. 40000.000 Millions (Previous Year Rs. Nil) issued during the year are redeemable at par on June 12, 2023. These Non-Convertible Debentures are to be secured by;

(a) a pari passu charge by way of hypothecation over;

i) all rights, title, interest, benefit, claims and demands in, to, or in respect of construction, earth moving and other related equipment (including spares, tools and accessories) of the Plant and Equipment Hiring Division (including related to Co-Developer of SEZ Division) of the Company;

ii) all movable assets consisting of current assets and loans and advances of the Company (excluding those already hypothecated to existing lenders of the Company) and current investments of the proposed project of the Company to set-up additional jetty berths at Sikka, Jamnagar (Gujarat);

(b) mortgage over a building owned by the Company situated at Kandivali, Mumbai;

The Company is in the process of creating of securities / charge for the aforesaid debentures.

2) 10.40% Secured Redeemable Non-Convertible Debentures- PPD 4 aggregating Rs. 25000.000 Millions (Previous Year Rs. 25000.000 Millions) are redeemable at par on July 18, 2021. These Non-Convertible Debentures are secured by way of first ranking charge on Current Assets and Loans and Advances of the Company, not hypothecated to existing lenders of the Company and also secured by a negative lien on the fixed assets of the Company existing as on June 30, 2011.

3) 9.30% Secured Redeemable Non-Convertible Debentures- PPD 3 aggregating Rs. 10000.000 Millions (Previous Year Rs. 10000.000 Millions) are redeemable at par on February 27, 2015. These Non-Convertible Debentures are secured by way of mortgage of specific immovable property of the Company situated at Ahmedabad.

4) 9.50% Unsecured Redeemable Non-Convertible Debentures- PPD 1 aggregating Rs. 4700.000 Millions (Previous Year Rs. Nil) have been bought back and cancelled during the year.

5) 9.55% Unsecured Redeemable Non-Convertible Debentures- PPD 2 aggregating Rs. 5000.000 Millions (Previous Year Rs. 5000.000 crore) were earlier redeemable at par in two tranches of Rs. 200.00 crore and Rs. 3000.000 Millions on June 2, 2013 and June 2, 2014 respectively, now rescheduled for redemption at par on June 2, 2021.

1) Term Loans from Banks and Financial Institutions in Indian currency to the extent of Rs. 10047.000 Millions (Previous Year Rs. 14251.900 Millions) are secured by a first ranking pari passu charge;

(a) Over the Company's rights, title and interest in the immovable properties inclusive of the leasehold interest in the leasehold lands both situated at Village Sikka, Taluka Jamnagar and used for rendering Port Infrastructure services under the Contract Documents pertaining to old port facilities.

(b) Over the movable fixed assets and current assets used for rendering Port Infrastructure service under the Contract Documents pertaining to old port facilities.

(c) On the right, title and interest of the Company in the designated account, investments made out of balance proceeds lying in the designated account and an assignment of Company's right, title and interest in, to or in respect of the Contract Documents and insurance policies pertaining to old port facilities.

2) Term Loans from Banks in Indian currency to the extent of Rs. 2503.700 Millions (Previous Year Rs. 3077.500 Millions) are secured by a first pari passu mortgage and charge over fixed assets, all current assets (excluding receivables), all receivables including any proceeds received or arising under any insurance claim, the Trust and Retention Account and all amounts credited therein relating to Pipeline Infrastructure division.

Banking Relations :	--
Financial Institution :	Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India
Auditors :
Name :	Chaturvedi and Shah Chartered Accountants
Address :	714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFC0662N
Holding company :	· Reliance Industries Holding Private Limited CIN No.: U65923MH2007PTC168016 Priyash Commercials Private Limited CIN No.: U51100GJ2005PTC046468
Associates:	· Reliance Industries Limited CIN No.: L17110MH1973PLC019786 Reliance Jamnagar Infrastructure Limited CIN No.: U45300GJ1999PLC036347 The Indian Film Combine Private Limited CIN No.: U92100MH1942PTC003702 Reliance Singapore Holdings Pte. Limited Reliance Global Holding Pte Limited
Fellow Subsidiary Company :	· Reliance Engineering (Middle East) DMCC India Utilities and Power Limited CIN No.: U40100GJ2010PLC059460 Relcom Venture Capital Private Limited CIN No.: U74999MH2000PTC126923 Kankhal Investments and Trading Company Private Limited CIN No.: U65923MH1979PTC021244 Reliance Enterprises Holding Private Limited CIN No.: U67120MH2007PTC168012 Deccan Finvest Private Limited CIN No.: U65910MH2000PTC211633 Reliance Utilities and Power Private Limited CIN No.: U40100GJ1991PTC051130 Reliance Consolidated Holdings Private Limited CIN No.: U65999MH2007PTC168431 Reliance Investment And Trading Private Limited CIN No.: U67120MH2007PTC168436 Antilia Commercial Private Limited CIN No.: U51900MH2000PTC125501 Vibrant Advertising Pvt Ltd CIN No.: U74300GJ1988PTC010703
Subsidiary companies :	· Reliance Utilities Private Limited CIN No.: U99999GJ2000PTC050444 Relogistics Infrastructure Limited CIN No.: U74140MH2000PLC128405 Reliance Gas Transportation Infrastructure Limited CIN No.: U60300GJ1999PLC040064
Other Related Parties :	· Rishike sh Enterprises LLP Pitambar Enterprises LLP Pavana Enterprises LLP Ganga Enterprises Akshaj Enterprises LLP

CAPITAL STRUCTURE

As on 30.06.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000,000,000	Equity Shares	Re. 1/- each	Rs. 50000.000 Millions
2,500,000,000	10% Non-Cumulative Redeemable Preference Shares	Rs. 10/- each	Rs. 25000.000 Millions
	Total		Rs. 75000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,750,000,000	Equity Shares	Re. 1/- each	Rs. 2750.000 Millions
47,000,000	10% Non-Cumulative Redeemable Preference Shares	Rs. 10/- each	Rs. 470.000 Millions
	Total		Rs. 3220.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	30.06.2013	30.06.2012	30.06.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	3220.000	3220.000	3040.000
(b) Reserves & Surplus	109932.700	109972.000	164459.900
(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)	113152.700	113192.000	167499.900
(3) Non-Current Liabilities
(a) long-term borrowings	98695.100	62764.400	52798.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	10563.800	10684.100	77004.000
(d) long-term provisions	5911.700	2755.200	0.000
Total Non-current Liabilities (3)	115170.600	76203.700	129802.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	1887.300
(b) Trade payables	1058.600	3056.500	1887.000
(c) Other current liabilities	22893.400	33627.200	55079.300
(d) Short-term provisions	87.600	2804.100	58.400
Total Current Liabilities (4)	24039.600	39487.800	58912.000
TOTAL	252362.900	228883.500	356213.900
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	44486.400	60921.900	15531.400
(ii) Intangible Assets	25.900	32.800	18093.400
(iii) Capital work-in-progress	854.300	905.400	739.600
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	53799.300	43227.700	221288.100
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	99943.000	92008.400	15056.800
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	199108.900	197096.200	270709.300
(2) Current assets
(a) Current investments	40677.000	4980.200	18209.500
(b) Inventories	1915.700	1881.500	2032.300
(c) Trade receivables	2184.300	5065.300	3830.800
(d) Cash and cash equivalents	82.400	126.500	6881.200
(e) Short-term loans and advances	8217.600	19542.200	53924.500
(f) Other current assets	177.000	191.600	626.300
Total Current Assets	53254.000	31787.300	85504.600
TOTAL	252362.900	228883.500	356213.900

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.06.2013	30.06.2012	30.06.2011
	SALES
		Income	39118.000	48451.200	48271.200
		Other Income	876.800	960.200	652.500
		TOTAL (A)	39994.800	49411.400	48923.700
Less	EXPENSES
		Purchases of Stock-in-Trade	85.000	48.600	33.200
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	1.000	14.300	22.100
		Employees benefits expense	915.800	2447.900	2268.700
		Other expenses	12495.000	25641.700	21759.400
		TOTAL (B)	13496.800	28152.500	24083.400
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		26498.000	21258.900	24840.300
Less	FINANCIAL EXPENSES (D)		6304.900	7580.500	5120.800
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		20193.100	13678.400	19719.500
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17392.400	14872.400	8371.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2800.700	(1194.000)	11348.500
Less	TAX (H)		2840.000	123229.900	1397.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(39.300)	(124423.900)	9951.500
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(115449.200)	8974.800	93.800
Less	SHORT PROVISION FOR TAX FOR EARLIER YEARS		0.000	0.100	0.500
Less	APPROPRIATIONS
		Transferred to Debenture Redemption Reserve	0.000	0.000	1070.000
	BALANCE CARRIED TO THE B/S		(115488.500)	(115449.200)	8974.800
	EARNINGS IN FOREIGN CURRENCY
		Port Infrastructure Services (Including services to SEZ Units and Developers)	16040.300	14030.700	12381.900
		Guarantee Commission	11.300	0.000	0.000
	TOTAL EARNINGS		16051.600	14030.700	12381.900
	IMPORTS
		Capital Goods	299.100	430.200	557.500
		Components and spare parts	583.700	507.500	777.400
	TOTAL IMPORTS		882.800	937.700	1334.900
	Earnings / (Loss) Per Share (Rs.)		(0.01)	(50.08)	5.79

KEY RATIOS

PARTICULARS		30.06.2013	30.06.2012	30.06.2011
PAT / Total Income	(%)	(0.10)	(251.81)	20.34
Net Profit Margin (PBT/Sales)	(%)	7.16	(2.46)	23.51
Return on Total Assets (PBT/Total Assets}	(%)	1.42	(0.65)	8.46
Return on Investment (ROI) (PBT/Networth)		0.02	(0.01)	0.07
Debt Equity Ratio (Total Debt/Networth)		0.87	0.55	0.33
Current Ratio (Current Asset/Current Liability)		2.22	0.80	1.45

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	30.06.2011	30.06.2012	30.06.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	3040.000	3220.000	3220.000
Reserves & Surplus	164459.900	109972.000	109932.700
Net worth	167499.900	113192.000	113152.700
long-term borrowings	52798.000	62764.400	98695.100
Short term borrowings	1887.300	0.000	0.000
Total borrowings	54685.300	62764.400	98695.100
Debt/Equity ratio	0.326	0.554	0.872

YEAR-ON-YEAR GROWTH

Year on Year Growth	30.06.2011	30.06.2012	30.06.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	48271.200	48451.200	39118.000
		0.373	(19.263)

NET PROFIT MARGIN

Net Profit Margin	30.06.2011	30.06.2012	30.06.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	48271.200	48451.200	39118.000
Profit	9951.500	(124423.900)	(39.300)
	20.62%	(256.80%)	(0.10%)

LOCAL AGENCY FURTHER INFORMATION

NOTE: Current Maturities of Long Term Debts is Not Available.

CURRENT MATURITIES OF LONG TERM DEBTS

Particulars	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
Current Maturities of Long Term Debts
Total

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10447220	02/12/2013 *	40,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B90560368
2	10314624	15/10/2011	25,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B23953987
3	10255948	29/12/2010	10,000,000,000.00	AXIS TRUSTEE SERVICES LIMITED	MAKER TOWERS 'F', 13TH FLOOR, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA	B01964667
4	10074361	19/04/2012 *	23,000,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, 2E, BOMBAY DYEING MILLS COMPOUND, PB MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B39413943
5	10047253	26/10/2007 *	42,500,000,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	A26142075
6	10004050	28/03/2006	6,000,000,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	A00354126
7	90211642	22/05/1987	5,300,000.00	THE INDUSTRIAL RECONSTRUCTION BANK OF INDIA	NETAJI SUBHAS ROAD, CALCUTTA, WEST BENGAL - 700001, INDIA	-

* Date of charge modification

UNSECURED LOANS

PARTICULAR	30.06.2013 (Rs. In Millions)	30.06.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Non-convertible debentures others	5000.000	0.000
Total	5000.000	0.000

CHANGE OF ADDRESS

The registered office address of the company has been shifted from Village Magpar / Padana, Taluka Lalpur, District Jamnagar, Gujarat, India to present address w.e.f.16.07.2008.

OPERATIONS:

During the year, the income from operations is Rs. 39118.000 Millions as against Rs. 48451.200 Millions in the previous year. The Profit from Continuing Operations before Interest, Depreciation and Tax for the year is Rs. 26498.000 Millions as against Rs. 21258.900 Millions in the previous year

FIXED ASSETS

Tangible Assets

Land

· Buildings

Plant and Equipment

Furniture and Fixtures

Vehicles

Motor Vehicles

Office Equipment

Other Equipments

Leasehold Improvements

Intangible Assets

· Computer Software

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.61.02
UK Pound	1	Rs.99.43
Euro	1	Rs.77.84

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	8
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		77

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.