MIRA INFORM REPORT

Report No. :	315097
Report Date :	02.04.2015

IDENTIFICATION DETAILS

Name :	DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED
Registered Office :	New Udaan Bhawan, Opposite Terminal - 3, Indira Gandhi International Airport, New Delhi - 110037
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.03.2006
Com. Reg. No.:	55-146936
Capital Investment / Paid-up Capital :	Rs.24500.000 Million
CIN No.: [Company Identification No.]	U63033DL2006PTC146936
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELD08985E
PAN No.: [Permanent Account No.]	AACCD3570F
Legal Form :	Private Limited Liability Company
Line of Business :	Providing of Airport Maintenance Services and Repairing Services.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 300000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject is a joint venture consortium of GMR Group (54%), Airport Authority of India (26%), Fraport AG and Eraman Malaysia (10% each). It is an established company having satisfactory track. Management has filed “Form 20 B” depicting annual return for FY14, whereas failed to file “Form 23 AC” for the same year, with the statutory authorities. Management has seen a healthy growth in subject’s operating income in FY 13, whereas has reported a huge accumulated loss during the year under review. The ratings also take into consideration the monopoly position of the Indira Gandhi International Airport in the National Capital Region and experience of the promoters. Trade relations are reported as fair. Business is active. Payments terms are reported as usually correct. In view of established position of the company and strong support received from its group company, the subject can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term rating = A-
Rating Explanation	Adequate degree of safety and carry lowest credit risk.
Date	April 23, 2014

Rating Agency Name	CARE
Rating	Short term rating: “A2+”
Rating Explanation	Strong degree of safety and low credit risk.
Date	April 23, 2014

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DENIED

Management non-co-operative (91-11-47197453)

LOCATIONS

Registered Office :	New Udaan Bhawan, Opposite Terminal - 3, Indira Gandhi International Airport, New Delhi – 110037, India
Tel. No.:	91-11-47197001/ 47197453
Fax No.:	91-11-47197034/ 47197181
E-Mail :	Lalit.satija@gmrgroup.in Sounderarajan.cp@gmrgroup.in
Website :	www.newdelhiairport.in
Corporate Office :	GMR Group, IBC Knowledge Park, Phase 2, "D" Block, 9th Floor, 4/1, Bannerghatta Road, Bangalore - 560029, Karnataka, India
Tel No.:	91-80-40432180
Fax No.:	91-80-40432000
E-Mail :	info@gmrgroup.in
Branch Office :	Located At: · New Delhi · Himachal Pradesh · Bhubaneswar · Orissa · Uttarakhand · Chandigarh · Maharashtra · Karnataka · Tamil Nadu · Andhra Pradesh

DIRECTORS

As on 26.08.2014

Name :

Mr. Narayana Rao Kada

Designation :

Director

Address :

104 Durga Vihar, Gunnrock Avenue, Secunderabad – 500015, Andhra Pradesh, India

Date of Birth/Age :

01.04.1955

Date of Appointment :

01.04.2013

PAN No.:

AFMPK7052H

DIN No.:

00016262

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	L28100KA1986PLC049077	Parrys Sugar Industries Limited	Director	24/01/2007	30/01/2000	29/10/2007	Active	NO
2	U18100AP1990PTC012096	SRI VARALAKSHMI JUTE TWINE MILLS PRIVATE LIMITED	Director	01/09/2003	01/09/2003	19/02/2009	Active	NO
3	L27101AP2006PLC049591	METKORE ALLOYS AND INDUSTRIES LIMITED	Director	23/03/2006	23/03/2006	29/10/2007	Active	NO
4	U63033DL2006PTC146936	Delhi International Airport Private Limited	Whole-time director	01/04/2013	17/04/2007	-	Active	NO
5	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	22/05/2007	-	Active	NO
6	U24233DL2007PTC165308	Delhi Aviation Services Private Limited	Director	16/06/2008	28/06/2007	27/05/2010	Active	NO
7	U92410KA2008PTC051176	GMR Sports Private Limited	Director	18/08/2009	12/04/2008	-	Active	NO
8	U37100DL2005PLC135148	EAST DELHI WASTE PROCESSING COMPANY LIMITED	Director	20/08/2009	08/01/2009	19/01/2011	Active	NO
9	U74999DL2009PTC193079	Delhi Aviation Fuel Facility Private Limited	Director	11/08/2009	11/08/2009	14/09/2009	Active	NO
10	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	15/02/2012	15/02/2012	-	Active	NO

Name :

Ravela Sri Satya Lakshami Narasimha Bhaskarudu

Designation :

Director

Address :

RSSLN Bhaskarudu, H. No.2210, Sector D, Pocket – 2, Vasant Kunj, New Delhi - 110070, India

Date of Birth/Age :

01.07.1940

Date of Appointment :

26.08.2014

DIN No.:

00058527

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	U40101TN2005PLC057117	HARYANA ABAN POWER COMPANY LIMITED	Director	05/08/2005	05/08/2005	20/04/2012	Active	NO
2	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	02/09/2005	-	Active	NO
3	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	25/09/2014	15/10/2005	-	Active	NO
4	U40101DL2005PLC141611	COUNTRYWIDE POWER TRANSMISSION LIMITED	Director	17/10/2005	17/10/2005	06/10/2007	Active	NO
5	U27109AP1982GOI003404	RASHTRIYA ISPAT NIGAM LIMITED	Director	26/04/2006	26/04/2006	25/04/2009	Active	NO
6	L62200DL1998PLC093225	GLOBAL VECTRA HELICORP LIMITED	Director	07/06/2006	07/06/2006	01/05/2012	Active	NO
7	U72200TN2002PLC050086	FATPIPE NETWORKS LIMITED	Director	25/09/2009	01/11/2008	-	Active	NO
8	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	26/08/2014	18/03/2009	-	Active	NO
9	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	09/05/2011	-	Active	NO

Name :

Mr. Srinivas Bommidala

Designation :

Director

Address :

No. 309, 3rd Cross, 2nd Block, 2nd Stage, Devasandra, Rajmahal Vilas Extension, Bangalore – 560094, Karnataka, India

Date of Birth/Age :

01.03.1963

Date of Appointment :

01.04.2014

PAN No.:

ADAPB2985L

DIN No.:

00061464

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	U51909AP1988PTC009039	BOMMIDALA EXPORTS PRIVATE LIMITED	Director	13/09/1988	13/09/1988	-	Active	NO
2	U51909AP1988PTC009286	BOMMIDALA EXIM PRIVATE LIMITED	Director	22/11/1988	22/11/1988	-	Strike off	NO
3	U55101AP1985PTC005319	HOTEL SHIVAM INTERNATIONAL PRIVATE LIMITED	Director	02/11/1992	02/11/1992	-	Active	NO
4	U15541AP1993PTC016105	BOMMIDALA TOBACCO EXPORTERS PRIVATE LIMITED	Director	27/12/1993	27/12/1993	-	Active	NO
5	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Director	04/06/1995	04/06/1995	15/10/2007	Active	NO
6	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	01/10/2011	10/05/1996	-	Active	NO
7	U23201KA1997PLC032964	GMR Vemagiri Power Generation Limited	Director	19/04/2006	01/10/2001	15/10/2007	Active	NO
8	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	20/12/2001	20/12/2001	17/10/2007	Active	NO
9	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	29/06/2004	29/06/2004	-	Active	NO
10	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	05/08/2005	08/05/2005	-	Active	NO
11	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	10/01/2008	14/07/2005	17/01/2012	Active	NO
12	U13100KA2005PTC037308	GMR Mining AND Energy Private Limited	Director	23/09/2005	23/09/2005	17/10/2007	Active	NO
13	U16000AP2005PTC047651	BOMMIDALA TOBACCO THRESHERS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Under Process of Striking off	NO
14	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	10/01/2008	18/10/2005	03/08/2009	Active	NO
15	U45200KA2005PLC049327	GMR POCHANPALLI EXPRESSWAYS LIMITED.	Director	10/01/2008	18/10/2005	14/07/2009	Active	NO
16	U70101KA2006PTC038204	B S R INFRASTRUCTURE PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Active	NO
17	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	10/01/2008	03/02/2006	04/12/2011	Active	NO
18	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Director	17/02/2006	17/02/2006	20/02/2009	Active	NO
19	U45203KA2006PTC038784	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	10/01/2008	20/03/2006	17/05/2010	Active	NO
20	U63033DL2006PTC146936	Delhi International Airport Private Limited	Managing director	01/04/2014	19/04/2006	-	Active	NO
21	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Managing director	23/01/2012	08/07/2006	-	Active	NO
22	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	18/06/2007	24/05/2010	Active	NO
23	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Director	18/08/2008	28/09/2007	-	Active	NO
24	U45400AP2007PLC054827	GMR Hyderabad Aerotropolis Limited	Director	27/06/2008	29/09/2007	-	Active	NO
25	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Director	03/07/2008	10/01/2008	22/01/2013	Active	NO
26	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Director	03/07/2008	10/01/2008	22/01/2013	Active	NO
27	U92410KA2008PTC051176	GMR Sports Private Limited	Director	19/02/2008	19/02/2008	-	Active	NO
28	U92412KA2008PTC051177	GMR League Games Private Limited	Director	07/03/2008	07/03/2008	03/10/2012	Active	NO
29	U23209TG2005PTC047372	KAKINADA REFINERY AND PETROCHEMICALS PRIVATE LIMITED	Director	22/09/2008	23/06/2008	27/11/2012	Active	NO
30	U74999KA2009PTC049039	BSR Holdings Private Limited	Director	04/02/2009	04/02/2009	-	Active	NO
31	U74920KA2005PLC036865	RAXA SECURITY SERVICES LIMITED	Director	29/09/2009	10/02/2009	01/02/2010	Active	NO
32	U45201KA2009PTC050109	GMR Hyderabad Vijayawada Expressways Private Limited	Director	11/06/2009	11/06/2009	19/11/2011	Active	NO
33	U62200KA2006PTC041278	GMR AVIATION PRIVATE LIMITED	Director	27/08/2012	20/07/2009	-	Active	NO
34	U45203KA2009PTC050441	GMR Chennai Outer Ring Road Private Limited	Director	21/07/2009	21/07/2009	17/01/2012	Active	NO
35	U74900KA2008PTC045801	GMR SEZ AND PORT HOLDINGS PRIVATE LIMITED	Director	18/08/2010	01/02/2010	11/05/2011	Active	NO
36	U62200TG2008PLC059646	GMR Airport Developers Limited	Additional director	14/05/2010	14/05/2010	07/09/2010	Active	NO
37	U45200MH1996PTC205984	GMR PROJECTS PRIVATE LIMITED	Director	21/05/2010	21/05/2010	07/09/2010	Active	NO
38	U40100KA2008PTC045783	GMR GUJARAT SOLAR POWER PRIVATE LIMITED	Director	14/07/2011	19/10/2010	08/10/2012	Active	NO
39	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	09/05/2011	-	Active	NO
40	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	30/08/2011	25/05/2011	-	Active	NO
41	U45203DL2011PTC225560	GMR HIGHWAYS PROJECTS PRIVATE LIMITED	Director	27/09/2011	27/09/2011	11/11/2011	Active	NO
42	U85110TG2011PTC076813	AMG HEALTHCARE DESTINATION PRIVATE LIMITED	Director	03/10/2011	03/10/2011	-	Active	NO
43	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	24/11/2011	24/11/2011	28/01/2013	Active	NO
44	U45201TG2008PLC067141	GMR AEROSPACE ENGINEERING LIMITED	Director	27/07/2012	22/02/2012	-	Active	NO
45	U52599DL2009PTC191963	DELHI DUTY FREE SERVICES PRIVATE LIMITED	Director	02/07/2012	30/03/2012	-	Active	NO

Name :

Mr. Kiran Kumar Grandhi

Designation :

Director

Address :

No.486/76, SHMI Nilayam, 38th Cross, 1st Main, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India

Date of Birth/Age :

13.09.1975

Date of Appointment :

01.04.2014

PAN No.:

ADUPG3647G

DIN No.:

00061669

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	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Managing director	28/07/2013	05/12/1999	-	Active	NO
2	U72200KA1993PLC030645	IDEASPACE SOLUTIONS LIMITED	Director	04/08/2001	04/08/2001	19/08/2009	Active	NO
3	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Director	01/09/2001	01/09/2001	30/03/2012	Active	NO
4	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Director	01/09/2001	01/09/2001	30/03/2012	Active	NO
5	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	23/01/2012	29/10/2003	-	Active	NO
6	L28100KA1986PLC049077	Parrys Sugar Industries Limited	Director	26/05/2004	26/05/2004	30/07/2007	Active	NO
7	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	29/06/2004	29/06/2004	-	Active	NO
8	U62100TG2005PTC045123	GATEWAYS FOR INDIA AIRPORTS PRIVATE LIMITED	Director	12/01/2005	12/01/2005	07/11/2009	Active	NO
9	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	05/08/2005	08/05/2005	-	Active	NO
10	U63033DL2006PTC146936	Delhi International Airport Private Limited	Whole-time director	01/04/2014	19/04/2006	-	Active	NO
11	U62100TG2006PTC049243	Hyderabad Menzies Air Cargo Private Limited	Director	05/06/2006	05/06/2006	07/02/2007	Active	NO
12	U70100KA2009PTC049046	GKR Holdings Private Limited	Director	04/02/2009	04/02/2009	-	Active	NO
13	U45201TG2008PLC067141	GMR AEROSPACE ENGINEERING LIMITED	Director	25/09/2009	26/04/2009	31/01/2012	Active	NO
14	U52599DL2009PTC191963	DELHI DUTY FREE SERVICES PRIVATE LIMITED	Director	07/12/2010	07/10/2009	30/03/2012	Active	NO
15	U60100TN2010PLC074341	TVS AVIATION LOGISTICS LIMITED	Director	29/09/2011	06/05/2010	20/03/2014	Active	NO
16	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	09/05/2011	-	Active	NO
17	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	30/08/2011	25/05/2011	20/10/2014	Active	NO
18	U45203DL2011PTC225560	GMR HIGHWAYS PROJECTS PRIVATE LIMITED	Director	27/09/2011	27/09/2011	24/02/2012	Active	NO
19	U92410KA2008PTC051176	GMR Sports Private Limited	Director	24/09/2012	01/10/2011	-	Active	NO
20	U45201KA2009PTC050109	GMR Hyderabad Vijayawada Expressways Private Limited	Director	14/08/2012	19/11/2011	25/07/2013	Active	NO
21	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	24/11/2011	24/11/2011	25/07/2013	Active	NO
22	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	14/08/2012	03/12/2011	-	Active	NO
23	U45203KA2009PTC050441	GMR Chennai Outer Ring Road Private Limited	Director	14/08/2012	17/01/2012	25/07/2013	Active	NO
24	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	14/08/2012	17/01/2012	25/07/2013	Active	NO
25	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Director	29/08/2012	20/01/2012	-	Active	NO
26	U74900KA2008PTC045801	GMR SEZ AND PORT HOLDINGS PRIVATE LIMITED	Director	30/08/2012	31/03/2012	-	Active	NO

Name :

Mr. Grandhi Buchi Sanyasi Raju

Designation :

Director

Address :

No.486/76, Varalak SHMI Nilayam, 38th Cross, 1st Main, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India

Date of Birth/Age :

22.06.1974

Date of Appointment :

11.06.2007

DIN No.:

00061686

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	U85110KA1996PLC021262	GMR ENERGY LIMITED	Managing director	18/04/2013	20/06/1998	-	Active	NO
2	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	12/05/2010	22/05/1999	-	Active	NO
3	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	29/06/2004	29/06/2004	-	Active	NO
4	U62100TG2005PTC045123	GATEWAYS FOR INDIA AIRPORTS PRIVATE LIMITED	Director	12/01/2005	12/01/2005	07/11/2009	Active	NO
5	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	05/08/2005	08/05/2005	-	Active	NO
6	U67120KA1993PTC032116	BBM ESTATES PRIVATE LIMITED	Director	04/07/2005	04/07/2005	28/09/2007	Active	NO
7	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	03/02/2006	03/02/2006	06/01/2007	Active	NO
8	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	11/06/2007	19/04/2006	-	Active	NO
9	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Alternate director	08/07/2006	08/07/2006	24/01/2013	Active	NO
10	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	18/06/2007	-	Active	NO
11	U74999KA2007PLC043189	GMR Corporate Center Limited	Director	30/09/2008	18/07/2007	12/01/2009	Active	NO
12	U74920KA2005PLC036865	RAXA SECURITY SERVICES LIMITED	Director	29/09/2008	13/09/2007	10/02/2009	Active	NO
13	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	11/01/2008	16/05/2013	Active	NO
14	U23209TG2005PTC047372	KAKINADA REFINERY AND PETROCHEMICALS PRIVATE LIMITED	Director	22/09/2008	23/06/2008	-	Active	NO
15	U40101KA2008PTC047277	GMR COASTAL ENERGY PRIVATE LIMITED	Director	24/07/2008	24/07/2008	13/05/2013	Active	NO
16	U74999KA2009PTC049040	GBS Holdings Private Limited	Director	04/02/2009	04/02/2009	-	Active	NO
17	U62200KA2006PTC041278	GMR AVIATION PRIVATE LIMITED	Director	29/09/2009	06/04/2009	12/09/2014	Active	NO
18	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Director	28/09/2012	08/05/2012	-	Active	NO
19	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Managing director	10/09/2014	25/11/2013	-	Active	NO
20	U40101HP2008PTC030971	GMR BAJOLI HOLI HYDROPOWER PRIVATE LIMITED	Director	06/09/2014	15/07/2014	-	Active	NO
21	U40100MH2005PLC155140	EMCO ENERGY LIMITED	Additional director	15/10/2014	15/10/2014	-	Active	NO
22	U40108KA2008PLC047974	GMR CHHATTISGARH ENERGY LIMITED	Additional director	15/10/2014	15/10/2014	-	Active	NO

Name :

Mr. Subba Rao Gunuputi

Designation :

Director

Address :

D-168, 1st Floor, Defence Colony, New Delhi – 110024, Delhi, India

Date of Birth/Age :

15.11.1951

Date of Appointment :

11.06.2007

DIN No.:

00064511

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	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	11/06/2007	19/04/2006	-	Active	NO
2	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	22/05/2007	-	Active	NO
3	U24233DL2007PTC165308	Delhi Aviation Services Private Limited	Director	16/06/2008	28/06/2007	27/05/2010	Active	NO
4	U92410KA2008PTC051176	GMR Sports Private Limited	Director	19/02/2008	19/02/2008	-	Active	NO
5	U92412KA2008PTC051177	GMR League Games Private Limited	Director	07/03/2008	07/03/2008	-	Active	NO
6	U37100DL2005PLC135148	EAST DELHI WASTE PROCESSING COMPANY LIMITED	Director	20/08/2009	08/01/2009	17/06/2011	Active	NO
7	U40101KA2008PTC048190	GMR LONDA HYDROPOWER PRIVATE LIMITED	Director	16/07/2009	08/01/2009	-	Active	NO
8	U40101HP2008PTC030971	GMR BAJOLI HOLI HYDROPOWER PRIVATE LIMITED	Whole-time director	01/03/2014	08/01/2009	-	Active	NO
9	U40101KA2009PTC048996	GMR Kakinada Energy Private Limited	Director	29/01/2009	29/01/2009	15/01/2014	Active	NO
10	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Director	28/02/2014	13/10/2009	-	Active	NO
11	U40108UR2009PTC032780	Badrinath Hydro Power Generation Private Limited	Director	12/08/2010	13/10/2009	-	Strike off	NO
12	U74200KA2008PTC045448	GMR Consulting Services Private Limited	Director	12/08/2010	01/03/2010	07/02/2014	Active	NO
13	U40109KA2010PLC054554	GMR Hosur Energy Limited	Director	22/07/2010	22/07/2010	31/01/2014	Active	NO
14	U40107KA2010PLC055826	GMR Indo-Nepal Energy Links Limited	Director	11/11/2010	11/11/2010	-	Active	NO
15	U40107KA2010PLC055843	GMR Indo-Nepal Power Corridors Limited	Director	12/11/2010	12/11/2010	-	Active	NO

Name :

Mr. Grandhi Mallikarjuna Rao

Designation :

Chairman

Address :

No.486/76, 38th Cross, 1st Main, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India

Date of Birth/Age :

01.07.1949

Date of Appointment :

11.06.2007

DIN No.:

00574243

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	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Whole-time director	18/10/2012	22/05/1999	-	Active	NO
2	U85110KA1996PLC021262	GMR ENERGY LIMITED	Managing director	25/09/1999	25/09/1999	17/10/2007	Active	NO
3	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Director	27/08/2001	27/08/2001	10/01/2008	Active	NO
4	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Director	27/08/2001	27/08/2001	10/01/2008	Active	NO
5	U23201KA1997PLC032964	GMR Vemagiri Power Generation Limited	Director	01/10/2001	01/10/2001	15/10/2007	Active	NO
6	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	29/10/2003	29/10/2003	-	Active	NO
7	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	09/12/2003	09/12/2003	-	Active	NO
8	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	14/07/2005	14/07/2005	10/01/2008	Active	NO
9	U13100KA2005PTC037308	GMR Mining AND Energy Private Limited	Director	23/09/2005	23/09/2005	17/10/2007	Active	NO
10	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	18/10/2005	18/10/2005	10/01/2008	Active	NO
11	U45200KA2005PLC049327	GMR POCHANPALLI EXPRESSWAYS LIMITED.	Director	18/10/2005	18/10/2005	10/01/2008	Active	NO
12	U74920KA2005PLC036865	RAXA SECURITY SERVICES LIMITED	Director	14/12/2005	14/12/2005	13/09/2007	Active	NO
13	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	03/02/2006	03/02/2006	10/01/2008	Active	NO
14	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Director	17/02/2006	17/02/2006	15/10/2007	Active	NO
15	U45203KA2006PTC038784	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	20/03/2006	20/03/2006	10/01/2008	Active	NO
16	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	11/06/2007	19/04/2006	-	Active	NO
17	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	18/06/2007	-	Active	NO
18	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	30/09/2008	18/08/2007	-	Active	NO
19	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Director	18/08/2008	28/09/2007	20/12/2010	Active	NO
20	U45400AP2007PLC054827	GMR Hyderabad Aerotropolis Limited	Director	27/06/2008	29/09/2007	-	Active	NO
21	U23209TG2005PTC047372	KAKINADA REFINERY AND PETROCHEMICALS PRIVATE LIMITED	Director	22/09/2008	23/06/2008	-	Active	NO
22	U62200TG2008PLC059646	GMR Airport Developers Limited	Additional director	14/05/2010	14/05/2010	07/09/2010	Active	NO
23	U45200MH1996PTC205984	GMR PROJECTS PRIVATE LIMITED	Director	21/05/2010	21/05/2010	07/09/2010	Active	NO
24	U45400KA2008PTC046642	GMR INFRATECH PRIVATE LIMITED	Director	18/08/2010	08/06/2010	07/09/2010	Active	NO
25	U45200KA2008PTC045780	GMR INFRA VENTURES PRIVATE LIMITED	Additional director	18/03/2011	18/03/2011	-	Converted to LLP and dissolved	NO
26	U65999KA1992PLC037455	GMR Airports Limited	Whole-time director	23/01/2013	31/03/2011	-	Active	NO
27	U85110TG2011PTC076813	AMG HEALTHCARE DESTINATION PRIVATE LIMITED	Director	25/09/2012	20/02/2012	-	Active	NO
28	U80903KA2014NPL073297	PARAMPARA FAMILY BUSINESS INSTITUTE	Director	29/01/2014	29/01/2014	-	Active	NO
29	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	20/10/2014	20/10/2014	-	Active	NO
30	U80902AP2014NPL095427	ANDHRA PRADESH STATE SKILL DEVELOPMENT CORPORATION	Director	30/10/2014	30/10/2014	-	Active	NO
31	AAA-4468	GMR INFRA VENTURES LLP	Designated Partner	13/04/2011	13/04/2011	-	Active	NO

Name :

Mr. Christoph Hans Nanke

Designation :

Director

Address :

Bebheimer Garden 7, Trebur, Germany-65468

Date of Birth/Age :

05.08.1966

Date of Appointment :

20.08.2009

DIN No.:

01710668

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	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	20/08/2009	23/07/2007	-	Active	NO
2	U45203KA2006PTC039141	Fraport Airport Operations India Private Limited	Director	01/05/2008	01/05/2008	30/05/2010	Strike off	NO

Name :

Mr. Suresh Krishan Goyal

Designation :

Director

Address :

2901, 29, Aqua Planet Godrej, 030, K Khadye Marg, S G M CHK, Mahalaxmi, Mumbai - 400011, Maharashtra, India

Date of Birth/Age :

05.07.1968

Date of Appointment :

24.08.2012

DIN No.:

02721580

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	U60220PN2007PTC130960	PRASANNA PURPLE MOBILITY SOLUTIONS PRIVATE LIMITED	Nominee director	24/09/2009	24/09/2009	03/02/2010	Active	NO
2	U74140MH2008PTC184628	SBI Macquarie Infrastructure Management Private Limited	Director	10/12/2010	30/08/2010	-	Active	NO
3	U40101MP2008PLC022066	MB Power (Madhya Pradesh) Limited	Nominee director	30/09/2011	04/02/2011	-	Active	NO
4	U65999KA1992PLC037455	GMR Airports Limited	Nominee director	31/03/2011	31/03/2011	-	Active	NO
5	U67200KA1991PTC012495	SOHAM RENEWABLE ENERGY INDIA PRIVATE LIMITED	Nominee director	27/07/2011	27/07/2011	27/06/2012	Active	NO
6	U40101KA2000PTC028247	AMBUTHIRTHA POWER PRIVATE LIMITED	Nominee director	27/07/2011	27/07/2011	27/06/2012	Active	NO
7	U63090KA1993PTC030194	SOHAM MANNAPITLU POWER PRIVATE LIMITED	Nominee director	27/07/2011	27/07/2011	27/06/2012	Active	NO
8	U72200DL2004PLC228400	VIOM NETWORKS LIMITED	Director	29/10/2012	07/10/2011	-	Active	NO
9	U64202DL2007PLC223153	Viom Infra Networks (Maharashtra) Limited	Director	29/10/2012	07/10/2011	-	Active	NO
10	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	24/08/2012	10/05/2012	-	Active	NO
11	U45201MH2011PLC215760	ASHOKA CONCESSIONS LIMITED	Nominee director	07/01/2013	07/01/2013	-	Active	NO
12	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	06/09/2013	23/04/2013	-	Active	NO
13	U45200TG2006PTC049847	TRICHY TOLLWAY PRIVATE LIMITED	Director	20/07/2013	21/06/2013	-	Active	NO
14	U65990GJ1999PLC036086	GUJARAT ROAD AND INFRASTRUCTURE COMPANY LIMITED	Director	19/01/2015	19/01/2015	-	Active	NO

Name :

Nangavaram Chandramouli Sarabeswaran

Designation :

Director

Address :

No.27, Papanasam, Sivan Salai, Palace Road, Chennai – 600004, Tamil Nadu, India

Date of Birth/Age :

07.05.1944

Date of Appointment :

26.08.2014

DIN No.:

00167868

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	U51102TN1954PTC002241	R SUBBARAMAN AND CO PRIVATE LIMITED	Director	31/07/1989	31/07/1989	-	Active	NO
2	U15209TN1997PTC039463	NANKKAVARAM FARM PRIVATE LIMITED	Director	27/01/1999	27/01/1999	14/02/2008	Strike off	NO
3	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	08/03/2004	08/03/2004	-	Active	NO
4	U65929TN2005PLC057390	MADURA MICRO FINANCE LIMITED	Director	16/03/2006	16/03/2006	-	Active	NO
5	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	08/06/2006	25/04/2006	24/04/2013	Active	NO
6	U45203KA2006PTC038784	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	05/07/2007	25/04/2006	18/02/2014	Active	NO
7	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	03/05/2006	25/04/2006	24/07/2014	Active	NO
8	U45200KA2005PLC049327	GMR POCHANPALLI EXPRESSWAYS LIMITED.	Director	11/09/2014	25/04/2006	-	Active	NO
9	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Director	19/06/2006	19/06/2006	30/03/2012	Active	NO
10	L27101AP2006PLC049591	METKORE ALLOYS AND INDUSTRIES LIMITED	Director	28/06/2007	28/06/2007	17/12/2009	Active	NO
11	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Director	04/07/2008	07/05/2008	-	Active	NO
12	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Director	24/08/2009	01/09/2008	-	Active	NO
13	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	05/09/2014	18/03/2009	-	Active	NO
14	U40108KA2008PLC047974	GMR CHHATTISGARH ENERGY LIMITED	Director	13/08/2010	02/12/2009	-	Active	NO
15	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Director	29/08/2012	28/10/2011	21/07/2014	Active	NO
16	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	30/08/2012	28/10/2011	16/07/2014	Active	NO
17	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	09/11/2011	-	Active	NO
18	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	21/08/2012	17/01/2012	24/07/2014	Active	NO
19	U65999KA1992PLC037455	GMR Airports Limited	Director	30/09/2014	22/07/2014	-	Active	NO
20	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	26/08/2014	22/07/2014	-	Active	NO
21	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	25/09/2014	25/09/2014	-	Active	NO

Name :

Suresh Seshadri

Designation :

Director

Date of Appointment :

23.08.2013

DIN No.:

06386248

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	U74990MH2009PLC193150	MIHAN INDIA LIMITED	Nominee director	27/09/2012	27/09/2012	-	Active	NO
2	U63033MH2007PTC177090	National Flying Training Institute Private Limited	Director	29/09/2012	29/09/2012	11/11/2013	Active	NO
3	U45203KA2001PLC028418	BANGALORE INTERNATIONAL AIRPORT LIMITED	Nominee director	19/10/2012	19/10/2012	13/11/2013	Active	NO
4	U45200MH2006PTC160164	Mumbai International Airport Private Limited	Director	24/07/2013	31/10/2012	-	Active	NO
5	U63013CH2010GOI031999	Chandigarh International Airport Limited	Nominee director	16/11/2012	16/11/2012	-	Active	NO
6	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	23/08/2013	30/11/2012	-	Active	NO
7	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	30/08/2013	07/12/2012	21/10/2013	Active	NO

Name :

Matthias Engler

Designation :

Director

Date of Appointment :

16.10.2012

DIN No.:

06363447

KEY EXECUTIVES

Name :	Mr. Gadi Radhakrishna Babu
Designation :	Secretary
Address :	1-4-61/2, Street No.8, Habshiguda, Hyderabad - 500007, Andhra Pradesh, India
Date of Birth/Age :	13.02.1960
Date of Appointment :	23.01.2012
PAN No.:	ACAPG2146H

MAJOR SHAREHOLDERS

As on 26.08.2014

Names of Shareholders	No. of Shares
GMR Infrastructure Limited, India	100
GMR Energy Limited, India	100
GMR Airports Limited, India	1322999800
Airports Authority of India, India	637000000
Fraport A G Frankfurt Airport Services Worldwide, Germany	245000000
Malaysia Airports (Mauritius) Private Limited, Mauritius	245000000
Total	2450000000

As on 26.08.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	20.00
Bodies corporate	80.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing of Airport Maintenance Services and Repairing Services.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

• Axis Bank Limited, Axis House, 2^nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India
• IDBI Bank Limited, Indian Red Cross Society Building, 1, Red Cross Road, New Delhi – 110001, Delhi, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Million)	31.03.2012 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks	24144.400	32324.800
Foreign currency term loans from banks	17022.300	17584.600
Rupee term loans from others	19312.500	7500.000
Total	60479.200	57409.400

Auditors :
Name :	Brahmayya And Company Chartered Accountant
Address :	‘Khivraj Mansion’, 10/2, Kasturba Road, Bangalore - 560001, Karnataka, India
PAN No.:	AAAFB9147R
Name :	S.R. Batlliboi and Associates Chartered Accountant
Address :	12^th Floor, Canberra Block, UB City, Vittal Mallya Road , Banglore - 560001, Karnatka, India
Tel. No.:	91-40-66246600
PAN No.:	AABFS3421N
Memberships :	Not Available
Collaborators :	Not Available
Holding Company:	GMR Infrastructure Limited, India L45203KA1996PLC034805
Ultimate Holding Company:	GMR Holdings Private Limited, India U67120MH1993PTC207451
Subsidiary company:	· Delhi Aerotropolis Private Limited CIN No.: U45400DL2007PTC163751 · East Delhi Waste Processing Company Limited CIN No.: U37100DL2005PLC135148
Joint venture:	· Airports Authority of India · Fraport AG Frankfurt Airport services Worldwide · Malaysia Airports (Mauritius) Private Limited · Delhi Aviation Services Private Limited CIN No.: U24233DL2007PTC165308 · Delhi Aviation Fuel Facility Private Limited CIN No.: U74999DL2009PTC193079 · Wipro Airport IT Services Limited CIN No.: U72200KA2009PLC051272 · Delhi Airport Parking Services Private Limited CIN No.: U63030DL2010PTC198985 · Travel Food Services (Delhi Terminal 3) Private Limited CIN No.: U55101DL2009PTC196639 · Delhi Duty Free Services Private Limited CIN No.: U52599DL2009PTC191963 · Delhi Select Service Hospitality Private Limited CIN No.: U55101DL2009PTC192897 · Devyani Food Street Private Limited CIN No.: U55101DL2009PTC193995 · Celebi Delhi Cargo Terminal Management India Private Limited CIN No.: U74900DL2009FTC191359 · Delhi Cargo Service Center Private Limited CIN No.: U74900DL2009PTC196125 · TIM Delhi Airport Advertising Private Limited CIN No.: U74999DL2010PTC203419
Fellow Subsidiary company:	· GMR Energy Limited CIN No.: U85110KA1996PLC021262 · GMR Consulting Services Private Limited CIN No.: U74200KA2008PTC045448 · SJK Powergen Limited CIN No.: U40109KA1998PLC052000 · GMR Hyderabad International Airport Limited CIN No.: U62100AP2002PLC040118 · Gateways for India Airports Private Limited CIN No.: U62100AP2005PTC045123 · GMR Male International Airport Private Limited · GMR Airport Developers Limited CIN No.: U62200AP2008PLC059646 · GADL International Limited · GMR Krishnagiri SEZ Limited CIN No.: U45209TN2007PLC064863 · Raxa Security Services Limited CIN No.: U74920KA2005PLC036865 · Delhi Golf Link Properties Private Limited CIN No.: U70102GJ2008PTC071327 · GMR Airports Limited CIN No.: U65999KA1992PLC037455 · GMR Corporate Affairs Private Limited CIN No.: U74999KA2006PTC041279 · GMR Aviation Private Limited CIN No.: U62200KA2006PTC041278
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· GMR Varalakshmi Foundation CIN No.: U80301AP2003NPL042195 · Istanbu Sabiha Gokcen Uluslararasi Havalimani Yaturum · Yapimvelsletme A.S. (SabihaGokcen International Airport) · MAS GMR Aerospace Engineering Company Limited CIN No.: U45201AP2008PLC067141

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000000	Equity Shares	Rs.10/- each	Rs.30000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2450000000	Equity Shares	Rs.10/- each	Rs.24500.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	24500.000	24500.000	24500.000
(b) Reserves & Surplus	(13806.900)	(14532.100)	(3678.100)
(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)	10693.100	9967.900	20821.900
(3) Non-Current Liabilities
(a) long-term borrowings	60479.200	57409.400	52299.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	21493.000	21832.100	24094.300
(d) long-term provisions	895.500	1085.700	1184.800
Total Non-current Liabilities (3)	82867.700	80327.200	77578.100
(4) Current Liabilities
(a) Short term borrowings	0.000	8565.000	6000.000
(b) Trade payables	4723.300	2333.500	1825.300
(c) Other current liabilities	20877.500	21344.300	18969.500
(d) Short-term provisions	392.200	357.900	232.900
Total Current Liabilities (4)	25993.000	32600.700	27027.700
TOTAL	119553.800	122895.800	125427.700
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	89136.000	90789.300	98368.000
(ii) Intangible Assets	4619.000	4730.700	4484.800
(iii) Capital work-in-progress	477.400	1243.300	867.900
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1825.900	1778.600	1554.500
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	975.900	1289.900	1976.200
(e) Other Non-current assets	8922.900	7176.700	168.300
Total Non-Current Assets	105957.100	107008.500	107419.700
(2) Current assets
(a) Current investments	1090.000	526.100	1456.500
(b) Inventories	95.900	94.700	27.200
(c) Trade receivables	5248.000	2454.300	1252.100
(d) Cash and cash equivalents	2412.800	3094.400	2901.000
(e) Short-term loans and advances	718.800	896.200	3163.700
(f) Other current assets	4031.200	8821.600	9207.500
Total Current Assets	13596.700	15887.300	18008.000
TOTAL	119553.800	122895.800	125427.700

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	32440.300	14945.500	12431.500
		Other Income	808.500	383.200	185.200
		TOTAL	33248.800	15328.700	12616.700
Less	EXPENSES
		Annual Fee	15331.600	7049.600	5772.700
		Power and Fuel	981.200	857.300	608.200
		Employee Benefits Expenses	1237.200	1426.100	1393.400
		Other Expenses	4387.100	4015.300	3619.100
		Exceptional Items	0.000	1621.200	0.000
		Prior Period Items (net)	(130.000)	0.000	0.000
		TOTAL	21807.100	14969.500	11393.400
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		11441.700	359.200	1223.300
Less	FINANCIAL EXPENSES		6574.600	6810.200	3317.300
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		4867.100	(6451.000)	(2094.000)
Less/ Add	DEPRECIATION/ AMORTISATION		4141.900	4264.500	2683.600
	PROFIT/ (LOSS) BEFORE TAX		725.200	(10715.500)	(4777.600)
Less	TAX		0.000	138.500	(275.600)
	PROFIT/ (LOSS) AFTER TAX		725.200	(10854.000)	(4502.000)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(14532.100)	(3678.100)	824.000
	BALANCE CARRIED TO THE B/S		(13806.900)	(14532.100)	(3678.100)
	EARNINGS IN FOREIGN CURRENCY
		Aeronautical Income	0.000	0.000	20.200
		Revenue from Concessionaires	1919.500	1515.300	773.200
	TOTAL EARNINGS		1919.500	1515.300	793.400
	IMPORTS
		Import of capital goods and other materials	148.700	388.600	918.000
	TOTAL IMPORTS		148.700	388.600	918.000
	Earnings / (Loss) Per Share (Rs.)		0.30	(4.43)	(3.57)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	2.23	(72.62)	(36.21)
Operating Profit Margin (PBDIT / Sales)	(%)	35.27	2.40	9.84
Return on Total Assets (PBT/Total Assets}	(%)	0.62	(8.94)	(3.88)
Return on Investment (ROI) (PBT/Networth)		0.07	(1.08)	(0.23)
Debt Equity Ratio (Total Debt /Networth)		5.66	6.62	2.80
Current Ratio (Current Asset/Current Liability)		0.52	0.49	0.67

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	24500.000	24500.000	24500.000
Reserves & Surplus	(3678.100)	(14532.100)	(13806.900)
Net worth	20821.900	9967.900	10693.100
long-term borrowings	52299.000	57409.400	60479.200
Short term borrowings	6000.000	8565.000	0.000
Total borrowings	58299.000	65974.400	60479.200
Debt/Equity ratio	2.800	6.619	5.656

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	12431.500	14945.500	32440.300
		20.223	117.057

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	12431.500	14945.500	32440.300
Profit	(4502.000)	(10854.000)	725.200
	(36.21%)	(72.62%)	2.24%

LOCAL AGENCY FURTHER INFORMATION

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

Note:

Registered address has been shifted from the New Udaan Bhawan, Terminal 3, Opposite ATC Complex International Terminal, I G I Airport, New Delhi – 110037, India to the present address w.e.f. 25.10.2010

LITIGATION DETAILS

IN THE HIGH COURT OF DELHI AT NEW DELHI

CONT.CAS(C) 625/2013

INTERNATIONAL LEASE FINANCE CORPORATION

..... Petitioner

Through: Mr.Alok Tiwari, Advocate.

versus

G M RAO CHAIRMAN, DELHI INTERNATIONAL AIRPORT

AUTHORITY PVT LTD and ORS..... Respondents

Through: Mr. Dig Vijay Rai, Advocate for R-2.

CORAM:

HON'BLE MR. JUSTICE V.K. SHALI

O R D E R

16.10.2014

CM No.17226/2014

Notice of the application seeking condonation of delay is accepted by the learned counsel for the petitioner. He shall file reply within two weeks with advance copy to the respondent. The application seeking condonation of delay for taking the reply of respondent No.2 on record shall be considered as and when the contempt petition is got revived.

V.K. SHALI, J

OCTOBER 16, 2014

srb
$ 45

UNSECURED LOAN

PARTICULAR	31.03.2013 (Rs. In Million)	31.03.2012 (Rs. In Million)
SHORT TERM BORROWINGS
Rupee term loans from banks	0.000	7315.000
Term loans from others	0.000	1250.000
Total	0.000	8565.000

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10550727	03/02/2015	17,787,721,875.00	Axis Bank Limited	Axis House, 2nd Floor, Bombay Dyeing Mills Compound,  , Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, INDIA	C43623081
2	10532492	29/04/2014	119,760,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	C34410159
3	10494321	21/03/2014	2,000,000,000.00	ICICI BANK LIMITED	ICICI BANK LIMITED, ALKAPURI, BARODA, Gujarat - 390015, INDIA	C03137502
4	10468344	24/01/2014 *	38,362,500,000.00	Axis Bank Limited	Axis House, 2nd Floor, Bombay Dyeing Mills Compound, , Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, INDIA	B95978284
5	10416021	11/03/2013	2,500,000,000.00	Corporation Bank	Corporate Banking Branch, 10th Floor, Hindustan Times House, K.G. Marg, Connaught Place, New Delhi, Delhi - 110001, INDIA	B71894513
6	10416449	11/03/2013	3,000,000,000.00	Central Bank of India	Corporate Finance Branch, 75, 1st Floor, Brigade  Road, Bangalore, Karnataka - 560025, INDIA	B72209786
7	10416023	11/03/2013	3,090,000,000.00	Canara Bank	Prime Corporate Branch 1, No.1, DDA Building, 1st Floor, Nehru Place, New Delhi, Delhi - 110019, INDIA	B71895692
8	10415558	11/03/2013	3,500,000,000.00	IDFC Limited	Naman Chambers, C-32 G- Block,, Bandrakurla Complex, Bandra (East),, Mumbai, Maharashtra - 400051, INDIA	B71957773
9	10230210	29/06/2010	2,500,000,000.00	Corporation Bank	16/10, 1st Floor, Main Arya Samaj Road,, Karol Bagh, New Delhi, Delhi - 110005, INDIA	A89994347
10	10112534	30/12/2013 *	32,443,000,000.00	Axis Bank Limited	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA	B92857531

* Date of charge modification

CORPORATE INFORMATION

The Company is a private limited Company domiciled in India and was incorporated on March 1, 2006 under the provisions of the Companies Act, 1956, for managing the operations and modernization of the Indira Gandhi International Airport (Delhi Airport). GMR Infrastructure Limited, along with its subsidiaries, holds majority shareholding in the Company. DIAL had entered into Operation, Management and Development Agreement (OMDA) with Airports Authority of India (AAI), which gives DIAL an exclusive right to operate, maintain, develop, modernize and manage the Delhi Airport on a revenue sharing model for an initial term of 30 years, which can be extended by another 30 years on satisfaction of certain terms and conditions pursuant to the provisions of the OMDA.

BUSINESS PERFORMANCE

During the financial year ended March 31, 2013, the company has recorded a Gross Revenue of Rs. 33248.800 Million as against Rs.15328.700 Million, in the corresponding previous year, being an increase of 117%. Further, the company has also recorded the Profit After Tax of Rs. 725.200 Million for the year ended March 31, 2013 against Loss of Rs. 10853.900 Million, in the corresponding previous year.

The above said increase in Revenue and achieved profits are mainly due to the following reasons:

Ø Significant increase in Aero Revenue due to increase in Tariff by Airport Economic Regulatory Authority, effective from May 15, 2012;

Ø Recognition of revenue of Rs. 2940.000 Million, on Cash Basis received from Air India Limited (AIL);

Ø Recognition of revenue of Rs. 1800.000 Million on accrual basis from Air India Limited, due to improved outstanding position as well as visible reasonable certainty of realization in the last quarter of financial year 2012-13.

FINANCE

During the year, the Airport Economic Regulatory Authority (AERA) has issued the revised Additional Development Fees (DF) order no. 30 / 2012-13 dated Dec. 28, 2012 whereby AERA has determined the rate of DF as Rs.100 per embarking domestic passenger andRs.600 per embarking international passenger w.e.f. 1 st Jan 2013, as against the earlier rate of DF of Rs.200 per embarking domestic passenger and Rs.1300 per embarking international passenger. AERA has also proposed to permit collection of total remaining amount of DF entitlement of Rs.14130.200 Million (on NPV basis as on 1 st Jan 2013). Further based on the traffic forecast considered at the time of DF order no. 28/2011-12 dated 8 th Nov 2011, AERA has estimated ADF to continue for a period of 40 months up to April 2016. Increase in DF collection period necessitated the refinancing of DF loan for longer tenor envisaged in revised DF order.

As considerable amount was collected between the date of revised DF order i.e. Dec. 28, 2012 for Rs.14130.200 Million and date of fresh DF loan availment i.e. 15 Mar 2013, the remaining DF entitlement amount of Rs.12008.500 Million was financed with new set of DF Lenders namely IDFC Limited, Central Bank of India, Canara Bank and Corporation Bank in March, 2013 at Rate of Interest of 11.50% p.a fixed for the entire period.

The company had availed disbursement of Rs.12008.500 Million in March, 2013 which was utilized for repayment of outstanding DF loans and existing Short Term loan.

During the year, the Company has also executed documents for refinancing of existing Rupee Term Loan to the tune of Rs.25500.000 Million with IDFC Limited, to increase the remaining loan repayment period from 12 years to 15 years. The company has availed disbursement of Rs.12500.000 Million till March, 2013 and Rs. 10500.000 Million till April, 2013.

AIRPORT OPERATIONS

The major highlights of key activities / initiatives of the airport operations during the year were as under:

Ø Ranked 4th best airport globally and 2nd best in the category of 25-40 mppa in the ASQ survey by ACI

Ø DIAL implemented Business Continuity Management System to avoid any operational disruptions due to unforeseen circumstances and became the world’s first airport to achieve the ISO 22301:2012 Certification for Business Continuity Management system;

Ø DIAL achieved a Business Excellence score of 479 in 1st cycle of assessment;

Ø Due to implementation of NATS recommendations to maximize Runway/Apron Utilization, DIAL has achieved movement of 73 per hour during peak hour operations, up from 65 movements per hour.

Ø Collaborative Decision Making (CDM) implementation to improve operational efficiency; significant improvement in IGIA OTP (On Time Performance).

Ø Improved Employee Engagement score from 3.60 to 4.03;

Ø DIAL’s Carbon Emissions inventory has been verified as per ISO 14064 by DNV and accredited by ACI for Level 2 (Reduction)

Ø DIAL has started looking into Solar Power generation and is in advance stage of finalizing of Contract;

Ø Open Access power purchase agreement signed with Global Energy for supply of 20MW.

AWARDS AND RECOGNITIONS TO THE COMPANY

The awards and recognitions received by the Company during the year are as under:

Ø World’s Most Improved Airport 2012 by Sky Trax

Ø Best Airport India in Infrastructure and Service Quality by Sky Trax

Ø International Safety Award from British Safety Council

Ø Highly Commendable Airport at Annual Routes Asia 2012 organized by ACI

Ø International Cargo Airport of the Year (Region India) by Stat Trade Times

Ø Best Managed Airport by CNBC Awaaz Travel Awards

Ø Excellent Energy Efficient Unit by the Confederation of Indian Industries.

INITIATIVES FOR 2013-14

Ø Maximize value from existing assets by improving utilization of operational runway/taxiway, apron and terminal, energy saving initiatives on airside and terminal and commercial utilization of T2/T1A ;

Ø Innovation to maximize non-regulated revenue, including non-pax revenue by creation of unique concept for city audience, extension of travel retail beyond the airport etc

Ø Initiatives to reduce interest cost by refinancing of rupee term loan and ECB Loan

Ø Develop DIAL an international air traffic Hub for Pax through operational excellence, retail management, route development etc

Ø Make DIAL a great place to work;

Ø To Become a Customer focused organization

Ø Cost containment measures by minimizing electricity and water consumption, repair and maintenance charges etc

Ø Improve connectivity to the airport

FIXED ASSETS

Tangible Assets

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

Intangible Assets

· Computer Software

WEBSITE DETAILS

GMR TO RAISE $350 MILLION VIA OVERSEAS BONDS

Bonds to have a tenure of 5-10 years; group plans to use the money to refinance the debt of its subsidiary DIAL

Friday, July 25 2014

Mumbai: Debt-strapped infrastructure developer GMR Group plans to raise $350 million (around Rs.21000.000 Million) by selling bonds to foreign investors and will use the money to refinance the debt of its subsidiary Delhi International Airport Ltd, or DIAL, a top company executive said.

GMR’s plan comes even as several companies are taking the overseas bonds route to raise money, and their success is a sign that investor appetite for Indian paper has returned.

Madhu Terdal, group chief financial officer at GMR, said the foreign bonds would have a tenure of five to 10 years.

DIAL, which runs New Delhi’s Indira Gandhi International Airport, has a debt of around Rs.58000.000 Million.

It reported a net profit of Rs.2171.000 Million for the year ended 31 March, compared with an Rs.383.000 Million profit a year ago.

GMR has been on a fund-raising spree.

Its bond offering comes within a month of a share sale to financial investors.

Earlier this month, GMR raised $250 million through a qualified institutional placement (QIP) to pare its debt which stood at Rs.335992.800 Million as on 31 March 2014.

Citigroup Inc., HSBC Holdings Inc., JP Morgan Chase and Co. and Standard Chartered Bank Plc are managing the bond sale.

The terms of such a sale will be easy on GMR, said bankers.

Indeed, higher yield bonds that are being issued right now are covenant-lite, which means that the companies do not have to report and maintain loan-to-value and gearing ratios and Ebitda (earnings before interest, taxes, depreciation and amortization).

Loan-to-value is the ratio of the loan to the value of the underlying asset; gearing is simply the debt-to-equity ratio. Banks in India have multiple covenants attached when they lend money. A covenant-lite structure, though risky for investors, provides firms an alternative and easier route to tap funds.

Terdal of GMR said the pricing of the bonds is yet to be finalized.

Several “non-AAA” rated companies have recently raised funds through foreign bonds, a trend that is likely to continue, according to Randhir Singh, managing director and India head of financing at Deutsche Bank AG. GMR Infrastructure Ltd’s long-term debt has been rated “BBB+” by Credit Analysis and Research Ltd (CARE), a credit rating firm.

Last week, Rolta India Ltd raised $300 million through senior notes (a type of bond).

Tata Steel Ltd is in the process of raising a large sum through overseas bonds. Tata Steel’s long-term debt has been rated “AA+” and Rolta’s “A+”. None of these companies have “AAA” rating for long-term debt and, consequently, their bond issues are higher yield ones.

Higher yield means that the coupon or interest payout by the firm will be higher on account of a lower credit rating.

“In terms of coupon, ‘BB+’ and ‘BBB’ rated firms will command 350-400 basis points (bps) higher than ‘AAA’ rated ones,” said Ajay Saraf, executive director at ICICI Securities Ltd. One basis point is one-hundredth of a percentage point and ‘AAA’ stands for the highest credit rating.

With an increase in risk appetite for high-yield bonds, even “non-AAA” rated firms will benefit. Bonds with a rating below “BB+” are considered high-yield ones.

The relaxed repayment structure that such bond sales now come with is a result of improved investor sentiment—a recent change on account of a new business-friendly government taking over the reins in New Delhi. “There is a lot of optimism around India right now and investors are keen to participate in India high-yields. Many issuers who were earlier hesitant are now quite willing to access the international bond market,” said Singh.

Delayed projects, a slowing economy, and imprudent financial planning have left most infrastructure developers in India loaded with debt. Many of them have, in recent months, sought to reduce the debt on their books, and Saraf of ICICI Securities said this is a good move and a positive signal for investors.

And “with investors expecting the India growth story returning to track, the high-yield issues will see sufficient demand from investors”, he added.

India’s economy grew at below 5% in 2013-14 and 2012-13, but it could expand by as much as 5.9% this year, the government said.

DIAL is a joint venture between the GMR Group, Airports Authority of India, Fraport AG and Malaysia Airports Holdings Bhd. It has been given the mandate to finance, design, build, operate and maintain the Delhi airport for 30 years with an option to extend it by another 30 years.

The total passenger traffic at Delhi airport in fiscal 2014 grew 7% to 36.880 million; international traffic grew 10% to 12.680 million.

Besides Delhi, GMR has also developed and commissioned the Greenfield international airport in Hyderabad and is part of a consortium that upgraded and is operating Istanbul’s Sabiha Gökçen International Airport.

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 records 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.62.59
UK Pound	1	Rs.92.45
Euro	1	Rs.67.51

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	SUB
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	3
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.