MIRA INFORM REPORT

Report No. :	315976
Report Date :	02.04.2015

IDENTIFICATION DETAILS

Name :	GUPTA POWER INFRASTRUCTURE LIMITED (w.e.f.31.03.2008)
Formerly Known As :	GUPTA POWER INFRASTRUCTURE PRIVATE LIMITED [w.e.f.26.03.2008] GUPTA CABLES PRIVATE LIMITED
Registered Office :	EN-62, Sector – V, 7^th Floor, Salt Lake City, Kolkata – 700091, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.05.1961
Com. Reg. No.:	21-025104
Capital Investment / Paid-up Capital :	Rs. 84.426 Million
CIN No.: [Company Identification No.]	U31300WB1961PLC025104
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CALG00457C
PAN No.: [Permanent Account No.]	AAACG9210B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Conductors and Cables.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track record. Overall financial position of the company is sound and healthy. Trade relations are reported to be fair. Business is active. Payments terms are reported to be regular and as per commitment. The company can be considered for business dealing 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	CRISIL
Rating	Long term rating : BBB+
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	December 19, 2014

Rating Agency Name	CRISIL
Rating	Short term rating : A2
Rating Explanation	Have strong degree of safety and carry low credit risk.
Date	December 19, 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 PARTED BY

MANAGEMENT NON-COOPERATIVE [CONTACT NO.: 91-33-40657348]

LOCATIONS

Registered Office :	EN-62, Sector – V, 7^th Floor, Salt Lake City, Kolkata – 700091, West Bengal, India
Tel. No.:	91-33-39584017/ 22438441/ 40657348
Mobile No.:	91-9338774267 (Mr. Sangram Ray)
Fax No.:	91-33-22438441
E-Mail :	sharma_gl@yahoo.com communication_2008@rediffmail.com info@guptapower.com hareebol@sancharnet.in kishalay_08@rediffmail.com sangamray@guptapower.com kolkata@guptapower.com
Website :	http://www.guptapower.com
Corporate Office :	Cuttack Road, Bhubaneshwar – 751006, Orissa, India
Tel. No.:	91-674-2313898/ 2312945
Fax No.:	91-674-2312083
Factory 1 :	Plot No-F/9, IDCO IID Centre, Khurda-752054, Orissa, India
Tel. No.:	91-674-2313898/ 2312945
Fax No.:	91-674-2312083/ 2312876
Factory 2 :	Shed No.13 and 18, Phase - V, SIDCO Industrial Estate, Gummidipoondi, Chennai – 601201, Tamilnadu, India
Tel. No.:	91-44-27921349
Fax No.:	91-44-37909900
Marketing Office 1 :	No. L-16 / 2, 2nd Floor, L Block, 26th Street, Annanagar [East] Chennai - 600102, Tamilnadu, India
Tel. No.:	91-44-26222262
E-Mail :	chennai@guptapower.com
Marketing Office 2 :	122, (First Floor), DLF Galeria Mall Mayur Vihar, Phase-I, District Center Delhi - 110091, India
Tel. No.:	91-11-47513131
Marketing Office 3 :	Unique House, S2 (Ground Floor), Besides Procter and Gamble (P&G) Plaza, Chakala Road, Andheri [East], Mumbai – 400099, Maharashtra, India
Tel. No.:	91-22-32261641/ 2
Fax No.:	91-22-28328199
E-Mail :	mumbai@guptapower.com
Branch Offices :	Located at: · Bangalore · Bhopal · Hyderabad · Raipur · Ranchi

SOLE PROPRIETOR/PARTNERS/DIRECTORS

AS ON 30.09.2014

Name :

Mr. Mahendra Kumar Gupta

Designation :

Managing Director

Address :

Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa, India

Date of Birth/Age :

01.10.1952

Qualification :

Graduate

Date of Appointment :

05.09.1997

PAN No.:

AASPG3097R

DIN No.:

00492922

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	U27109OR1984PTC001445	TIRUPATI STEEL INDUSTRIES PVT LTD	Director	19/12/1984	19/12/1984	11/06/2007	Active	NO
2	U15311DL1987PLC029900	BHAWANI ROLLER FLOUR MILLS LIMITED	Director	27/11/1987	27/11/1987	01/06/2007	Active	NO
3	U15209TG1993PTC016425	KUNJ AGRO PROUDCTS PVT LTD	Director	13/10/1993	13/10/1993	01/09/2008	Active	NO
4	U31300WB1961PLC025104	GUPTA POWER INFRASTRUCTURE LIMITED	Managing director	05/09/1997	05/09/1997	-	Active	NO
5	U15541OR2000PTC006053	J R G CENTER FOR LEARNING AND EDUCATION PRIVATE LIMITED	Director	21/01/2000	21/01/2000	11/06/2007	Active	NO
6	U15311TG1980PTC002839	SUPRABHAT ROLLER FLOUR MILLS PRIVATE LIMITED	Director	30/11/2001	30/11/2001	09/01/2008	Active	NO
7	U45201OR2005PTC008206	UTKAL INFRASTRUCTURE DEVELOPMENT CONSORTORIUM PRIVATE LIMITED	Nominee director	12/10/2010	11/12/2006	-	Active	NO
8	U40101WB2007PTC113495	GREAT EASTERN POWER PROJECTS PRIVATE LIMITED	Director	16/02/2007	16/02/2007	11/06/2007	Active	NO
9	U17110OR2011PTC013968	IRIS TEXT PROCESSORS PRIVATE LIMITED	Director	29/07/2011	29/07/2011	-	Active	NO

Name :

Mr. Jitendra Mohan Gupta

Designation :

Director

Address :

Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa, India

Date of Birth/Age :

09.07.1972

Qualification :

Graduate

Date of Appointment :

05.09.1997

PAN No.:

AASPG3099B

DIN No.:

00492662

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	U15311DL1987PLC029900	BHAWANI ROLLER FLOUR MILLS LIMITED	Director	28/06/1993	28/06/1993	01/06/2007	Active	NO
2	U15209TG1993PTC016425	KUNJ AGRO PROUDCTS PVT LTD	Director	12/01/1994	12/01/1994	01/09/2008	Active	NO
3	U51214OR1984PTC001019	MAA BHUASUNI INDUSTRIES PVT LTD	Director	16/08/1995	16/08/1995	11/06/2007	Active	NO
4	U15311WB1997PTC199152	KUNJ ROLLER FLOUR MILLS PRIVATE LIMITED	Director	07/05/1997	07/05/1997	25/09/2008	Active	NO
5	U31300WB1961PLC025104	GUPTA POWER INFRASTRUCTURE LIMITED	Director	05/09/1997	05/09/1997	-	Active	NO
6	U31300WB1994PTC199074	TIRUPATI CONDUCTORS PVT LTD	Director	27/09/1997	27/09/1997	01/06/2007	Active	NO
7	U27310OR1997PLC004783	SHREEJI ISPAT LIMITED	Director	01/04/1999	01/04/1999	16/11/2009	Active	NO
8	U15541OR2000PTC006053	J R G CENTER FOR LEARNING AND EDUCATION PRIVATE LIMITED	Director	21/01/2000	21/01/2000	11/06/2007	Active	NO
9	U28999OR2001PTC006627	JRG DEVELOPERS PRIVATE LIMITED	Director	18/10/2001	18/10/2001	11/06/2007	Active	NO
10	U15312WB2004PTC203870	JAI LAXMI AGRO FOODS PRIVATE LIMITED	Director	21/05/2004	21/05/2004	-	Active	NO
11	U00896OR2005PTC008487	IDEAS ACTIVATED PRIVATE LIMITED	Managing director	14/12/2005	14/12/2005	-	Active	NO
12	U40101WB2007PTC113495	GREAT EASTERN POWER PROJECTS PRIVATE LIMITED	Director	16/02/2007	16/02/2007	22/04/2009	Active	NO
13	U29299WB2007PTC113494	A ONE ENGINEERING PROJECTS PRIVATE LIMITED	Director	16/02/2007	16/02/2007	11/06/2007	Active	NO
14	U72200OR2009PTC010553	PANCHMUKHI INFOTECH PRIVATE LIMITED	Director	23/02/2012	23/02/2012	-	Active	NO

Name :

Mr. Abhishek Gupta

Designation :

Director

Address :

Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa, India

Date of Birth/Age :

02.03.1975

Qualification :

Graduate

Date of Appointment :

20.12.2006

PAN No.:

ADRPG4945N

DIN No.:

00492732

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	U15311DL1987PLC029900	BHAWANI ROLLER FLOUR MILLS LIMITED	Director	22/08/1997	22/08/1997	01/06/2007	Active	NO
2	U28999OR2001PTC006627	JRG DEVELOPERS PRIVATE LIMITED	Director	18/10/2001	18/10/2001	11/06/2007	Active	NO
3	U27203WB2000PTC199153	KUNJ ALLOYS PRIVATE LIMITED	Director	26/03/2008	28/12/2002	25/03/2009	Active	NO
4	U31300WB1994PTC199074	TIRUPATI CONDUCTORS PVT LTD	Director	29/03/2003	29/03/2003	02/12/2008	Active	NO
5	U31300WB1961PLC025104	GUPTA POWER INFRASTRUCTURE LIMITED	Director	20/12/2006	20/12/2006	-	Active	NO
6	U29299WB2007PTC113494	A ONE ENGINEERING PROJECTS PRIVATE LIMITED	Director	16/02/2007	16/02/2007	-	Active	NO
7	U15311TG1980PTC002839	SUPRABHAT ROLLER FLOUR MILLS PRIVATE LIMITED	Director	08/01/2008	08/01/2008	10/02/2010	Active	NO
8	U27310OR1997PLC004783	SHREEJI ISPAT LIMITED	Director	30/09/2008	08/02/2008	16/11/2009	Active	NO

Name :

Mr. Bhagat Ram Gupta

Designation :

Director

Address :

Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa, India

Date of Birth/Age :

12.11.1943

Qualification :

Graduate

Date of Appointment :

05.09.1997

PAN No.:

AASPG3098A

DIN No.:

00492874

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	U28992RJ1980PLC002076	SUPREME CYLINDERS LIMITED	Director	21/09/1981	21/09/1981	05/02/2010	Active	NO
2	U15311DL1987PLC029900	BHAWANI ROLLER FLOUR MILLS LIMITED	Director	27/11/1987	27/11/1987	01/06/2007	Active	NO
3	U15209TG1993PTC016425	KUNJ AGRO PROUDCTS PRIVATE LIMITED	Director	13/10/1993	13/10/1993	01/09/2008	Active	NO
4	U31300WB1994PTC199073	BHARAT ELECTRICAL ACCESSORIES PRIVATE LIMITED	Director	31/03/1994	31/03/1994	25/09/2008	Active	NO
5	U31300WB1961PLC025104	GUPTA POWER INFRASTRUCTURE LIMITED	Director	05/09/1997	05/09/1997	-	Active	NO
6	U15311WB1997PTC199152	KUNJ ROLLER FLOUR MILLS PRIVATE LIMITED	Director	20/03/2000	20/03/2000	01/06/2007	Active	NO
7	U15311TG1980PTC002839	SUPRABHAT ROLLER FLOUR MILLS PRIVATE LIMITED	Director	07/06/2001	07/06/2001	09/01/2008	Active	NO
8	U15314OR2007PTC009338	OMKAAR JAGANNATH AGRO PRIVATE LIMITED	Director	18/05/2007	18/05/2007	27/06/2013	Active	NO
9	U28999OR2001PTC006627	JRG DEVELOPERS PRIVATE LIMITED	Director	01/06/2007	01/06/2007	19/12/2014	Active	NO
10	U27109OR1984PTC001445	TIRUPATI STEEL INDUSTRIES PRIVATE LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO
11	U45400WB2007PTC117886	SHRI KUNJ REALTORS PRIVATE LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO
12	U27310OR1997PLC004783	SHREEJI ISPAT LIMITED	Director	30/09/2008	08/02/2008	16/11/2009	Active	NO

Name :

Mrs. Kiran Devi Gupta

Designation :

Director

Address :

Gupta Niwas Station Road, Bhubaneshwar, Khurda – 751006, Orissa, India

Date of Birth/Age :

18.01.1945

Date of Appointment :

01.01.2004

DIN No.:

01348787

Name :

Mr. Pravin Kumar Agarwal

Designation :

Director

Address :

Flat No. 627, Gobindh Block, Nalajee Complex Jail Road, Jharapada, Bhubaneshwar-751006, Khurda, Odisha, India

Date of Birth/Age :

02.11.1964

Date of Appointment :

05.07.2014

DIN No.:

06902513

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Bhagat Ram Gupta	92280
Kiran Devi Gupta	113460
Mahendra Kumar Gupta	243980
Padma Devi Gupta	288100
Subhash Chandra Gupta	239950
Sushila Devi Gupta	154650
Adi Narayan Gupta	422500
Bhagawatilal Prasad Agrawala	1660
Sharada Kumari Agrawala	500
Jitendra Mohan Gupta	100000
Abhishek Gupta	306440
Adi Narayan Gupta H.U.F.	390310
Subhash Chandra Gupta H.U.F.	490080
Rekha Gupta	293730
Mahendra Kumar Gupta HUF	293450
Bhagat Ram Gupta HUF	294000
Bhagat Ram Gupta M. HUF	119000
Bhagat Ram Gupta S. HUF	125000
Sunita Devi Gupta	323470
Fidelity Marketing (Private) Limited, India	1238000
Flexo Contra Private Limited, India	732000
Hariom Vanijya Private Limited, India	500000
ARP Securities Limited, India	594000
Juhi Vanijya Private Limited, India	436000
Harsh Mohan Gupta	250000
Divine Infratech Private Limited, India	200000
Lavanya Financials Consultant Private Limited, India	200000
Total	8442560

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	46.00
Directors or relatives of directors	54.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Conductors and Cables.

Products/ Services :

ITC Code No.	Product Descriptions
76011040	ACSR, AAC, AAAC, Conductor, Wires, Cables etc.

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

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 :

· Aarti Steels Limited

· ABB Limited

· Bajaj Electricals

· BILT

· FACOR

· KESCO

· OPGC Limited

· TATA Steel

No. of Employees :

Not Divulged

Bankers :

Banker Name :	Allahabad Bank
Branch Address :	159,Bapuji Nagar, Bhubaneswar - 751009, Orissa, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

· Canara Bank, Buxi Bazar Branch, Buxibazar, Cuttack - 753001, Orissa, India

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India

· Axis Bank Limited, Archbiship's House, Satyanagar, Bhubaneswar, Bhubaneswar - 751007, Orissa, India

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· Indusind Bank Limited, Savitri Tower, 3A Upper Wood Street, Kolkata - 700017, West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Term loans from banks	166.753	310.929
SHORT TERM BORROWINGS
Working capital loans from banks	3454.795	2601.792
Total	3621.548	2912.721

Auditors :
Name :	M K P S and Associates Chartered Accountants
Address :	Block-B, Monalika Lalbahadur Shastri, Old Station Square, Bhubaneswar – 751006, Orissa, India
Income-tax PAN of auditor or auditor's firm :	AASFM8070A
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs. 10/- each	Rs. 100.000 Million
	Total		Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8,442,560	Equity Shares	Rs. 10/- each	Rs. 84.426 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	84.426	84.426	84.426
(b) Reserves & Surplus	2547.743	2138.109	1748.001
(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)	2632.169	2222.535	1832.427
(3) Non-Current Liabilities
(a) long-term borrowings	425.046	447.765	393.808
(b) Deferred tax liabilities (Net)	15.670	8.050	4.888
(c) Other long term liabilities	86.731	86.731	80.619
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	527.447	542.546	479.315
(4) Current Liabilities
(a) Short term borrowings	3454.795	2601.792	1450.669
(b) Trade payables	650.101	726.801	518.404
(c) Other current liabilities	165.787	183.018	144.735
(d) Short-term provisions	0.000	10.379	22.652
Total Current Liabilities (4)	4270.683	3521.990	2136.460
TOTAL	7430.299	6287.071	4448.202
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1274.075	1237.258	789.940
(ii) Intangible Assets	7.533	12.556	1.547
(iii) Capital work-in-progress	345.007	250.527	378.171
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	79.117	60.374	43.652
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1705.732	1560.715	1213.310
(2) Current assets
(a) Current investments	11.530	10.690	10.115
(b) Inventories	1460.772	1427.816	1024.748
(c) Trade receivables	3691.277	2661.091	1541.550
(d) Cash and cash equivalents	521.541	523.826	537.578
(e) Short-term loans and advances	39.447	102.873	120.565
(f) Other current assets	0.000	0.060	0.336
Total Current Assets	5724.567	4726.356	3234.892
TOTAL	7430.299	6287.071	4448.202

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	18116.211	15702.692	11722.860
		Other Income	0.779	0.448	0.728
		TOTAL (A)	18116.990	15703.140	11723.588
Less	EXPENSES
		Cost of Materials Consumed	16190.651	13760.998	9891.981
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(60.699)	(13.136)	97.506
		Employees benefits expense	181.567	142.656	114.370
		Other expenses	590.790	684.190	636.861
		TOTAL (B)	16902.309	14574.708	10740.718
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1214.681	1128.432	982.870
Less	FINANCIAL EXPENSES (D)		631.878	577.955	512.802
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		582.803	550.477	470.068
Less/ Add	DEPRECIATION/ AMORTISATION (F)		111.356	102.777	69.000
	PROFIT BEFORE TAX (E-F) (G)		471.447	447.700	401.068
Less	TAX (H)		51.987	46.849	91.589
	PROFIT AFTER TAX (G-H) (I)		419.460	400.851	309.479
	Earnings Per Share (Rs.)		49.68	47.48	36.66

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	2.32	2.55	2.64
Operating Profit Margin (PBDIT/Sales)	(%)	6.70	7.19	8.38
Return on Total Assets (PBT/Total Assets}	(%)	6.65	7.42	9.85
Return on Investment (ROI) (PBT/Networth)		0.18	0.20	0.22
Debt Equity Ratio (Total Debt/Networth)		1.47	1.37	1.01
Current Ratio (Current Asset/Current Liability)		1.34	1.34	1.51

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	84.426	84.426	84.426
Reserves & Surplus	1748.001	2138.109	2547.743
Net worth	1832.427	2222.535	2632.169
long-term borrowings	393.808	447.765	425.046
Short term borrowings	1450.669	2601.792	3454.795
Total borrowings	1844.477	3049.557	3879.841
Debt/Equity ratio	1.007	1.372	1.474

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	11722.860	15702.692	18116.211
		33.949	15.370

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	11722.860	15702.692	18116.211
Profit	309.479	400.851	419.460
	2.64%	2.55%	2.32%

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	No
17]	Major suppliers	No
18]	Major customers	Yes
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	Yes
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	10354587	18/04/2013 *	575,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B75154112
2	10344388	18/02/2015 *	570,500,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	C43738863
3	10345801	12/12/2014 *	689,000,000.00	INDUSIND BANK LTD.	SAVITRI TOWER, 3A UPPER WOOD STREET, KOLKATA, West Bengal - 700017, INDIA	C42796805
4	10211964	08/09/2014 *	8,471,750,000.00	CANARA BANK	BUXI BAZAR BRANCH, MANGLABAG, CUTTACK, Orissa - 753001, INDIA	C36006815
5	10211954	22/02/2010	250,000,000.00	CANARA BANK	BUXI BAZAR BRANCH, MANGLABAG, CUTTACK, Orissa - 753001, INDIA	A83171884
6	10135785	07/05/2014 *	14,206,250,000.00	CANARA BANK	SUR COMPLEX, MANGLABAG, CUTTACK, Orissa - 753001, INDIA	C04960803
7	10115133	20/09/2013 *	4,282,200,000.00	ALLAHABAD BANK	159,BAPUJI NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	B87206207
8	90252486	19/11/2013 *	1,337,500,000.00	AXIS BANK LIMITED	ARCHBISHIP'S HOUSE, SATYANAGAR, BHUBANESWAR, BHUB  ANESWAR, Orissa - 751007, INDIA	B93789592
9	80013491	15/10/2012 *	3,994,500,000.00	ALLAHABAD BANK	159,BAPUJI NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	B61840575

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Other loans and advances	258.293	136.836
Total	258.293	136.836

GENERAL MARKET AND FUTURE OUTLOOK

1. The Government of India has set an ambitious target for system augmentation in the distribution segment. It plans to quadruple the distribution network by adding 3.2 million ct. km of distribution lines in the Eleventh Plan. Another 4.2 million ct. km is planned to be added in the Twelfth Plan. Thus by the end of the Twelfth Plan, the total distribution network in the country would have doubled, thus greatly facilitating delivery of power to the expanding base of end-use customers. Further, it plans to bring about 214,000 MVA of transformer capacity in the Eleventh Plan and another 270,000 MVA in the Twelfth Plan. Of these, the distribution transformers for the

Eleventh and Twelfth Plans will be 128,000 MVA and 162,000 MVA respectively. As such the future requirement of products of the Company shall accelerate manifold.

2. Power Grid Corporation of India Ltd has plans to invest Rs. 2520000.000 Million both in interstate and state sector in XII five year plan commencing from 01.04.2013. Requirement of cables and conductors is quite high in above.

3. Govt. of India have declared a capex plan of Rs. 23000.000 Million for Orissa for up gradation of existing lines and laying up of cables in place of conductors in rural areas to control power theft. The above capex plan shall be completed in 3 to 4 years.

4. Govt. of Orissa has taken decision to procure 50% of its requirement from local industries. As there are only 3-4 units in the state, the company shall be highly beneficial with such decision.

5. Govt. of India and govt. of various states including Orissa have decided to lay underground cables in place of overhead conductors which shall check power theft, beautification, better voltage in Urban areas. As the Company has already commenced manufacturing of H.T. Cables and is the only one in the State, it forsees to get voluminous orders.

6. Orissa has become an industrial hub in the country. A good number of Steel, Aluminium and Power Projects have come up in Orissa which has boosted in the requirement of power cables. The Company have started supplying the material to a number of units.

7. With our experience in RE programme and turnkey contracts of transmission line and substation, the Company has plans for manufacturing of transmission towers and poles in future to cater with the upcoming huge demand. With such it shall be qualified to erect conductor transmission line on turnkey basis with its own products and without depending on outside suppliers which shall add tremendous value to its products.

FIXED ASSETS:

· Land

· Buildings

· Office building

· Other building

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Motor vehicles

· Office equipment

· Computer equipments

· Other equipments

· 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. 62.59
UK Pound	1	Rs. 92.46
Euro	1	Rs. 67.51

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	RAS
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		53

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.