MIRA INFORM REPORT

Report No. :	318222
Report Date :	23.04.2015

IDENTIFICATION DETAILS

Name :	TEGA INDUSTRIES LIMITED
Registered Office :	147, Block – G, Humayun Kabir Sarani, New Alipore, Kolkata – 700053, West Bengal
Tel. No.:	91-33-30019000/23963512
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.05.1976
Com. Reg. No.:	21-030532
Capital Investment / Paid-up Capital :	Rs. 662.931 Million
CIN No.: [Company Identification No.]	U25199WB1976PLC030532
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCT2074M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Slurry Transportation Pump, Screen Media and Wear Products.
No. of Employees :	75 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (68)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The company has shown decent operational performance which resulted into healthy topline growth and it has maintain 18.84% margins during 2014. Rating alos takes into consideration company’s healthy market position in wear-resistant rubber products and components business supported by geographically well-diversified revenue profile and healthy financial risk profile with adequate debt protection metrics. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. In view of well-established operations backed by geographically diversified business, the company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

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

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 = A
Rating Explanation	Adequate degree of safety and low credit risk.
Date	February 12, 2015

Rating Agency Name	CRISIL
Rating	Short Term Rating = A1
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	February 12, 2015

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

Name :	Mr. Shoban
Designation :	Finance Department
Contact No.:	91-33-30019000
Date :	21.04.2015

LOCATIONS

Registered Office :	147, Block – G, Humayun Kabir Sarani, New Alipore, Kolkata – 700053, West Bengal, India
Tel. No.:	91-33-30019000/23963512
Fax No.:	91-33-23963649
E-Mail :	shobhan.dey@tegaindustries.com
Website :	http://www.tegaindustries.com
Location :	Owned
Factory :	Located at : Joka, Kolkata, West Bengal, India

DIRECTORS

AS ON 29.09.2014

Name :

Jahar Lal Saha

Designation :

Director

Address :

Sabarmati CG – 204, Salt Lake Sector – II, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

14.12.1943

Date of Appointment :

30.09.2008

PAN No.:

01762299

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	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	30/09/2008	01/11/2007	-	Active	NO
2	U74140WB2003PLC097206	GTFS MULTI SERVICES LIMITED	Director	01/03/2015	26/12/2013	-	Active	NO

Name :

Aravamudh Viji Iyerngar

Designation :

Director

Address :

AA/17, Sector – I, Salt Lake City, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

10.08.1938

Date of Appointment :

06.06.2002

PAN No.:

00064970

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	L27109WB1928PLC006190	BESCO LTD.	Director	29/03/1993	29/03/1993	-	Active	NO
2	U85195WB1990SGC049515	GLUCONATE HEALTH LTD	Director	27/03/2001	27/03/2001	19/07/2007	Active	NO
3	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Additional director	18/07/2008	10/10/2001	-	Active	NO
4	U85195WB1961SGC025168	ELECTRO MEDICAL & ALLIED INDUSTRIES LTD	Director	29/05/2002	29/05/2002	15/03/2010	Active	NO
5	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
6	L51909WB1947PLC014515	JARDINE HENDERSON LIMITED	Director	25/07/2002	25/07/2002	01/04/2014	Active	NO
7	L51109WB1938PLC009490	ALBERT DAVID LTD	Director	31/10/2002	31/10/2002	31/03/2014	Active	NO
8	L65993WB1992PLC056788	MARUDHAR FOOD & CREDIT LTD	Director	29/05/2005	29/05/2005	-	Active	NO
9	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Not Available for eFiling	NO
10	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	28/06/2006	28/06/2006	-	Active	NO
11	L67190WB1983PLC035658	VCK CAPITAL MARKET SERVICES LTD.	Director	17/09/2008	31/07/2008	06/02/2015	Active	NO
12	U93000MH2011PTC218782	Jugaad Ventures Private Limited	Director	17/06/2011	17/06/2011	-	Active	NO
13	U25111GJ2010PLC075794	TEGA INDUSTRIES (SEZ) LIMITED	Director	29/09/2012	20/12/2011	-	Active	NO
14	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LTD	Director	27/07/2012	21/12/2011	-	Active	NO
15	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO
16	U45202WB2003NPL096324	CALCUTTA PROMOTIONS	Director	26/05/2012	31/03/2012	-	Active	NO

Name :

Syed Yaver Imam

Designation :

Whole Time Director

Address :

Flat – 1E, Park View Apartments, 4E and F, Tilajala Road, Kolkata – 700046, West Bengal, India

Date of Birth/Age :

19.05.1959

Date of Appointment :

19.07.2005

PAN No.:

00588381

Name :

Madan Mohan Mohanka

Designation :

Chairman cum Managing Director

Address :

146, Block – G, New Alipore, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

13.08.1943

Date of Appointment :

01.03.2012

PAN No.:

00049388

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	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Managing director	01/03/2012	15/05/1976	-	Active	NO
2	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	02/11/1988	02/11/1988	-	Not Available for eFiling	NO
3	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Managing director	02/11/1988	02/11/1988	-	Active	NO
4	U29191DL1990PLC042369	MM AQUA TECHNOLOGIES LIMITED	Managing director	12/12/1990	12/12/1990	-	Not Available for eFiling	NO
5	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LTD	Director	10/07/1991	10/07/1991	-	Active	NO
6	U26999WB1995PTC068552	HIGH VALUE EQUIPMENT PRIVATE LIMITED	Whole-time director	21/02/1995	21/02/1995	-	Amalgamated	NO
7	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Director	10/10/2001	10/10/2001	-	Active	NO
8	L65993WB1992PLC056788	MARUDHAR FOOD & CREDIT LTD	Whole-time director	26/05/2005	26/05/2005	-	Active	NO
9	U29306WB2007PLC112823	MM-NERIFILL (INDIA) LIMITED	Director	27/01/2007	27/01/2007	-	Active	NO
10	U67120WB1996PTC079527	NIHAL FISCAL SERVICES PVT LTD	Director	01/02/2007	01/02/2007	-	Active	NO
11	U74910WB2007PTC114282	TRAFALGAR CONSULTING INTERNATIONAL COMPANY PRIVATE LIMITED	Director	20/03/2007	20/03/2007	-	Active	NO
12	U45206HR2008PTC038556	MM ROSEWOOD BUILDINFRA PRIVATE LIMITED	Director	28/11/2008	28/11/2008	-	Active	NO
13	U05004HR2008PTC038600	MM AQUA FILL PRIVATE LIMITED	Director	11/12/2008	11/12/2008	-	Active	NO
14	U25111GJ2010PLC075794	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
15	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO

Name :

Mehul Mohanka

Designation :

Whole Time Director

Address :

146, Block – G, New Alipore, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

13.02.1975

Date of Appointment :

12.04.2013

PAN No.:

00052134

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	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	22/06/1994	22/06/1994	-	Active	NO
2	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Whole-time director	12/04/2013	06/06/2002	-	Active	NO
3	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LTD	Whole-time director	15/10/2004	15/10/2004	21/12/2011	Active	NO
4	L65993WB1992PLC056788	MARUDHAR FOOD & CREDIT LTD	Whole-time director	26/05/2005	26/05/2005	-	Active	NO
5	U67120WB1996PTC079527	NIHAL FISCAL SERVICES PVT LTD	Director	01/02/2007	01/02/2007	-	Active	NO
6	U74910WB2007PTC114282	TRAFALGAR CONSULTING INTERNATIONAL COMPANY PRIVATE LIMITED	Director	20/03/2007	20/03/2007	-	Active	NO
7	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Director	29/09/2008	16/05/2008	-	Active	NO
8	U45206HR2008PTC038556	MM ROSEWOOD BUILDINFRA PRIVATE LIMITED	Director	28/11/2008	28/11/2008	-	Active	NO
9	U05004HR2008PTC038600	MM AQUA FILL PRIVATE LIMITED	Director	11/12/2008	11/12/2008	-	Active	NO
10	U25111GJ2010PLC075794	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
11	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO

Name :

Amar Nath Sadhu

Designation :

Director

Address :

73/1A, Palm Avenue, Kolkata – 700019, West Begal, India

Date of Birth/Age :

02.10.1939

Date of Appointment :

22.11.2001

DIN No.:

00052579

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	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	07/04/1996	07/04/1996	-	Not Available for eFiling	NO
2	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	07/04/1996	07/04/1996	-	Active	NO
3	L27202OR1989PLC002971	IFGL REFRACTORIES LIMITED	Director	22/08/2014	29/01/2001	-	Active	NO
4	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	22/11/2001	22/11/2001	-	Active	NO
5	U85195WB1998PTC088562	HERITAGE HEALTH TPA PRIVATE LIMITED	Director	07/06/2002	07/06/2002	-	Active	NO
6	U19129WB1981PLC034337	KHADIM INDIA LIMITED	Director	08/03/2006	08/03/2006	-	Active	NO
7	U25111GJ2010PLC075794	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO

Name :

Manju Mohanka

Designation :

Director

Address :

147, Block G, New Alipore, Kolkata – 700053, West Bengal, India

Date of Birth/Age :

21.02.1949

Date of Appointment :

30.10.2009

DIN No.:

00052345

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	U27203WB1975PLC029939	T P W ENGINEERING LTD	Director	20/11/2002	20/11/2002	-	Active	NO
2	U26999WB1995PTC068552	HIGH VALUE EQUIPMENT PRIVATE LIMITED	Director	20/11/2002	20/11/2002	-	Amalgamated	NO
3	U29306WB2007PLC112823	MM-NERIFILL (INDIA) LIMITED	Director	27/01/2007	27/01/2007	-	Active	NO
4	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	30/09/2010	30/10/2009	-	Active	NO
5	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Director	30/09/2010	30/11/2009	-	Active	NO
6	U74910WB2007PTC114282	TRAFALGAR CONSULTING INTERNATIONAL COMPANY PRIVATE LIMITED	Director	30/09/2013	27/08/2013	-	Active	NO
7	U45206HR2008PTC038556	MM ROSEWOOD BUILDINFRA PRIVATE LIMITED	Director	30/09/2013	27/08/2013	-	Active	NO

Name :

Rudolph Michael Edge

Designation :

Director

Address :

Crystal Cove, Flat No. 11, 3^rd Floor, 59, Satyadev Avenue, MRC Nagar, Chennai – 600028, Tamilnadu, India

Date of Birth/Age :

10.10.1946

Date of Appointment :

29.09.2014

DIN No.:

00626151

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	U14299TN1996PTC034056	FLSMIDTH MINERALS PRIVATE LIMITED	Whole-time director	15/11/2007	01/07/2004	-	Amalgamated	NO
2	U26941TN2000PTC044765	FLSMIDTH PRIVATE LIMITED	Director	23/09/2009	10/07/2009	31/12/2009	Active	NO
3	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	29/09/2014	27/03/2014	-	Active	NO

Name :

Dhiraj Poddar

Designation :

Director

Address :

Ta Associates Private Limited, Avantha House, CG Building, 12^th Floor, Drabrd Worli, Mumbai – 400030, Maharashtra, India

Date of Birth/Age :

03.11.1974

Date of Appointment :

11.05.2011

DIN No.:

01946905

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	U34102MH1999PTC123296	ENDURANCE TECHNOLOGIES Private Limited (CN)	Alternate director	17/10/2007	17/10/2007	08/05/2008	Active	NO
2	U31100MH1984PLC032825	POWERICA LIMITED	Alternate director	16/01/2008	16/01/2008	15/07/2010	Active	NO
3	U74999DL2005PTC132134	INTERGLOBE TECHNOLOGY QUOTIENT PRIVATE LIMITED	Alternate director	25/03/2010	19/03/2008	16/07/2010	Active	NO
4	U28999KA2001PTC029937	FIREPRO SYSTEMS PRIVATE LIMITED	Alternate director	15/12/2009	15/12/2009	15/07/2010	Active	NO
5	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	11/05/2011	11/05/2011	-	Active	NO
6	U72300MH2000PLC125441	INDIAIDEAS COM LIMITED	Nominee director	23/04/2012	23/04/2012	-	Active	NO
7	U72400MH2000PTC125369	FRACTAL ANALYTICS Private Limited	Additional director	26/02/2015	29/08/2013	-	Active	NO
8	U74900MH2008PTC188893	TA Associates Advisory Private Limited	Whole-time director	15/09/2014	23/06/2014	-	Active	NO

Name :

Hemant Madhusudan Nerurkar

Designation :

Director

Address :

Flat No. 201, Lodha Gradeur, Sayani Road, Opposite Parel Bus Depot, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

20.11.1948

Date of Appointment :

29.09.2014

DIN No.:

00265887

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	U63090WB2002PLC094134	TM INTERNATIONAL LOGISTICS LIMITED	Nominee director	18/01/2008	22/01/2003	06/02/2010	Active	NO
2	U45205OR1998PLC005448	THE DHAMRA PORT COMPANY LIMITED	Director	06/05/2005	06/05/2005	04/02/2008	Active	NO
3	U45209PN2005PLC020270	Tata BlueScope Steel Limited	Director	30/05/2006	30/05/2006	22/05/2012	Active	NO
4	U27109WB1997PLC084005	TATA STEEL PROCESSING AND DISTRIBUTION LIMITED	Director	23/10/2007	13/07/2006	04/02/2008	Active	NO
5	U45201OR2006PLC008971	TATA STEEL SPECIAL ECONOMIC ZONE LIMITED	Director	11/10/2006	11/10/2006	01/03/2008	Active	NO
6	L27310WB1990PLC050000	TATA METALIKS LTD.	Director appointed in casual vacancy	11/01/2008	11/01/2008	29/10/2009	Active	NO
7	U23101WB2005PLC101608	HOOGHLY MET COKE & POWER COMPANY LIMITED	Director	28/05/2008	11/01/2008	24/04/2009	Amalgamated	NO
8	U24111JH1995PLC009020	JAMIPOL LIMITED	Director appointed in casual vacancy	18/01/2008	18/01/2008	28/10/2009	Active	NO
9	L27100MH1907PLC000260	TATA STEEL LIMITED	Managing director	13/08/2010	09/04/2009	01/11/2013	Active	NO
10	U27205MH2009PLC195034	Centennial Steel Company Limited	Director	19/08/2009	19/08/2009	-	Amalgamated	NO
11	U26921OR1958PLC000349	TRL Krosaki Refractories Limited	Director	15/09/2012	27/08/2011	-	Active	NO
12	U27310MH2012PLC232512	Tata Steel Odisha Limited	Director	22/06/2012	22/06/2012	01/11/2013	Active	NO
13	U14290DL2013NPL261671	SKILL COUNCIL FOR MINING SECTOR	Director	06/12/2013	06/12/2013	-	Active	NO
14	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	29/09/2014	01/04/2014	-	Active	NO
15	L72200AP1990PLC011146	NCC LIMITED	Director	25/09/2014	09/04/2014	-	Active	NO
16	L35921TN1949PLC002905	TUBE INVESTMENTS OF INDIA LIMITED	Director	06/08/2014	05/05/2014	-	Active	NO
17	L29142TN1992PLC021997	IGARASHI MOTORS INDIA LIMITED	Director	30/07/2014	23/06/2014	-	Active	NO
18	U29253WB2008PLC123604	OM BESCO RAIL PRODUCTS LIMITED	Director	22/08/2014	14/07/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shoban
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

SHAREHOLDING DETAILS FILE ATTACHED.

AS ON 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	71.72
Directors or relatives of Directors	28.15
Other top fifty shareholders	0.13
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Slurry Transportation Pump, Screen Media and Wear Products.
Products :	Slurry Transportation Pump Screen Media and Wear Products
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Countries :	Canada USA Africa Australia
Imports :
Products :	Raw Material
Countries :	Japan Sweden South East Asia
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

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 :

75 (Approximately)

Bankers :

• Axis Bank, Kolkata Main (Branch), Kolkata, West Bengal, India
• Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
• Syndicate Bank, Alipore Branch, 8-B, Alipore Road, Kolkata – 700027, West Bengal, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Other loans and advances	3.268	1.726
Long term maturities of finance lease	2.096	4.185
Term loan from banks	43.462	95.769
SHORT TERM BORROWINGS
Loans repayable on demand from banks	365.207	374.178
Working capital loans from banks	120.068	138.341
Total	534.101	614.199

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Bengal Intelligent Park, Building Alpha, 1st Floor, Block EP and GP, Sector V, Salt Lake Electronics Complex, Kolkata – 700 091, West Bengal, India
PAN No.:	AADFD5357J
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Nihal Fiscal Services Private Limited
Subsidiary Company :	Tega Industries Inc. Usa Tega Industries Canada Inc. Tega Investments Limited Tega Industries (Sez) Limited Tega Holdings Pte. Limited Losugen Pty. Limited Tega Holdings Pty. Limited Tega Engineering Chile Spa Tega Industries South Africa (Proprietary) Limited Tega Beruc Sa (Proprietary) Limited Maple Orgtech (India) Limited Mmaqua Technologies Limited Hosch Equipment (India) Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Marudhar Food and Credit Limited

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
60000000	Equity Shares	Rs. 10/- each	Rs. 600.000 Million
10000000	Preference Shares	Rs. 10/- each	Rs. 100.000 Million
	Total		Rs. 700.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
57600868	Equity Shares	Rs. 10/- each	Rs. 576.008 Million
8692281	Preference Shares	Rs. 10/- each	Rs. 86.923 Million
	Total		Rs. 662.931 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	662.931	50.995	50.995
(b) Reserves & Surplus	3754.854	3815.001	3209.816
(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)	4417.785	3865.996	3260.811
(3) Non-Current Liabilities
(a) long-term borrowings	48.826	101.680	5.387
(b) Deferred tax liabilities (Net)	0.000	3.861	18.321
(c) Other long term liabilities	6.328	8.834	0.000
(d) long-term provisions	29.887	29.643	17.853
Total Non-current Liabilities (3)	85.041	144.018	41.561
(4) Current Liabilities
(a) Short term borrowings	485.275	512.519	619.920
(b) Trade payables	292.069	392.698	311.001
(c) Other current liabilities	171.074	141.834	84.784
(d) Short-term provisions	33.910	47.813	47.047
Total Current Liabilities (4)	982.328	1094.864	1062.752
TOTAL	5485.154	5104.878	4365.124
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	612.327	611.997	491.761
(ii) Intangible Assets	14.765	7.433	0.494
(iii) Capital work-in-progress	35.535	32.716	50.309
(iv) Intangible assets under development	2.346	2.170	1.475
(b) Non-current Investments	1934.206	1617.640	1151.458
(c) Deferred tax assets (net)	6.862	0.000	71.171
(d) Long-term Loan and Advances	26.401	140.814	19.957
(e) Other Non-current assets	8.431	24.550	0.000
Total Non-Current Assets	2640.873	2437.320	1786.625
(2) Current assets
(a) Current investments	574.466	556.642	551.842
(b) Inventories	540.006	570.563	430.699
(c) Trade receivables	1266.188	1193.715	1288.651
(d) Cash and cash equivalents	135.801	38.576	39.261
(e) Short-term loans and advances	254.736	232.275	201.608
(f) Other current assets	73.084	75.787	66.438
Total Current Assets	2844.281	2667.558	2578.499
TOTAL	5485.154	5104.878	4365.124

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3865.244	3479.942	3023.818
		Other Income	78.622	143.638	106.176
		TOTAL (A)	3943.866	3623.580	3129.994
Less	EXPENSES
		Cost of Materials Consumed	1367.753	1441.586	1279.527
		Purchases of Stock-in-Trade	11.845	0.000	70.340
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	23.363	(51.993)	(43.915)
		Employees benefits expense	344.961	293.841	224.711
		Other expenses	999.748	958.332	697.956
		TOTAL (B)	2747.670	2641.766	2228.619
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1196.196	981.814	901.375
Less	FINANCIAL EXPENSES (D)		44.507	48.818	42.515
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1151.689	932.996	858.860
Less/ Add	DEPRECIATION/ AMORTISATION (F)		95.503	75.269	71.978
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		1056.186	857.727	786.882
Less	TAX (H)		349.278	252.541	248.258
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		706.908	605.186	538.624
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2827.475	2750.783	1827.079
	TOTAL EARNINGS		2827.475	2750.783	1827.079
	IMPORTS
		Raw Materials	427.663	642.853	356.164
		Components and Stores parts	0.000	27.608	38.691
		Capital Goods	0.000	16.785	10.489
	TOTAL IMPORTS		427.663	687.246	405.344
	Earnings / (Loss) Per Share (Rs.)		10.66	9.13	8.12

Expected Sales (2014-15): Rs. 3300.000 Million

The above information has been parted by Mr. Shobhan (Finance Department)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	18.29	17.39	17.81
Operating Profit Margin (PBDIT/Sales)	(%)	30.95	28.21	29.81
Return on Total Assets (PBT/Total Assets}	(%)	30.12	24.84	25.46
Return on Investment (ROI) (PBT/Networth)		0.24	0.22	0.24
Debt Equity Ratio (Total Debts/Networth)		0.12	0.16	0.19
Current Ratio (Current Asset/Current Liability)		2.90	2.44	2.43

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	50.995	50.995	662.931
Reserves & Surplus	3209.816	3815.001	3754.854
Net worth	3260.811	3865.996	4417.785
long-term borrowings	5.387	101.680	48.826
Short term borrowings	619.920	512.519	485.275
Total borrowings	625.307	614.199	534.101
Debt/Equity ratio	0.192	0.159	0.121

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	3023.818	3479.942	3865.244
		15.084	11.072

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	3023.818	3479.942	3865.244
Profit	538.624	605.186	706.908
	17.81%	17.39%	18.29%

LOCAL AGENCY FURTHER INFORMATION

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

OPERATIONS

The turnover achieved for the year 2013-14 was Rs 3865.200 Million, reflecting 11% increase as compared to Rs 3479.900 Million in the previous year. Profit before Tax increased by 23% from Rs 857.700 Million (24.65 % of sales) in 2012-13 to Rs 1056.100 Million (27.32% of sales) in the current year . EBIDTA increased by 21.97% from Rs 975.800 Million in 2012-13 to Rs 1190.200 Million in the year

INDUSTRY AND FUTURE OUTLOOK

The global mining industry is continuing to experience difficult times. The industry is plagued by uncontrollable market conditions such as low commodity prices, changes in demand, escalating costs and a changing competitive landscape. Mining companies to sustain this downturn need to re-focus primarily on what they can control, including more effective cost management, operational efficiencies, improved productivity, profitability and cash flow and efficient and productive operational management.

Tough and volatile market conditions continue to drive the gloomy outlook of mining leaders followed by falling demand in key markets such as China. The negative outlook of the last year was dominated by the postponement of new investment in the resources sector. This has been replaced by a general pessimism about future demand, and doubts that commodity prices will increase. The year under review witnessed mining companies cancelling projects and postponing investments for a range of reasons as companies continue to wrestle with persistent and ongoing challenges beyond their control, such as low commodity prices, falling demand and a tough business environment. In the last 12 months, the companies have attempted to control some areas of their business, adjusting their activity to fit new conditions. However, having gone as far as they can, mining companies are now desperate for market conditions to change, thereby easing the pressure.

Looking ahead, though there some signs of recovery in the global economy the outlook for the mining sector continues to be grim, Currently mining companies are working their newer machines more hours at the expense of their older machines, which typically require more frequent part replacements and repairs. Eventually, these companies will have to undertake aftermarket machine part purchases in order to prevent their machines from downtime. Continued emphasis to better the efficiency of operations provides huge scope for solution and service providers like the Company. Business in existing large installed project bases can be expanded through new service solutions. However it is also expected that i n view of opex cuts, margins may come under pressure due to customer expectations of price reductions. The Company will seek to hold on to and grow existing market share across geographies as local suppliers will become aggressive. The next year will be a year where the Company will need to focus on building on its reserves, providing better solutions, go for aggressive marketing, become a value added supplier and maintain margins.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10556174	24/12/2014	216,000,000.00	The Hongkong and Shanghai Banking Corporation Limi  ted	Hongkong House, Credit Services, 31 B B D Bagh, Kolkata, West Bengal - 700001, INDIA	C47319348
2	10474644	05/11/2014 *	100,000,000.00	YES BANK LIMITED	9TH Floor, Nehru Centre, Discovery of India, Dr.  Annie Besant Road, Worli, Mumbai, Maharashtra - 400018, INDIA	C49997778
3	10382746	16/10/2012	55,000,000.00	The Hongkong and Shanghai Banking Corporation Limi  ted	Hongkong House, 31 B B D Bag, Kolkata, West Bengal - 700001, INDIA	B60548104
4	10375118	08/02/2013 *	150,000,000.00	The Hongkong and Shanghai Banking Corporataion Lim  ited	Hongkong House, 31 B B D Bagh, Kolkata, West Bengal - 700001, INDIA	B72268170
5	10368969	24/07/2012	115,000,000.00	The HongKong & Shanghai Banking Corporation Limite  d	HongKong House, 31, BBD Bagh, Kolkata, West Bengal - 700001, INDIA	B45069952
6	10225146	27/03/2014 *	220,000,000.00	Citibank N.A	Kanak Building, 41 Chowringhee Road, Kolkata, West Bengal - 700071, INDIA	C01190255
7	10146389	30/03/2009 *	220,209,000.00	AXIS BANK LIMITED	CREDIT MANAGEMENT CENTRE (CMC), 1, SHAKESPEARE S  ARANI, AC MARKET, 3RD FLOOR, KOLKATA, West Bengal - 700071, INDIA	A60896917
8	10136430	21/11/2008	16,875,000.00	Axis Bank Ltd.	Kolkata Main Branch, 7, Shakespeare sarani, Kolkata, West Bengal - 700071, INDIA	A53784070
9	10051251	13/03/2007	600,000.00	SYNDICATE BANK	ALIPORE BRANCH, 8B, ALIPORE ROAD, KOLKATA, West Bengal - 700027, INDIA	A14540363
10	10023045	21/02/2007 *	21,951,000.00	WEST BENGAL INDUSTRIAL DEVELOPMENT CORPN LTD	5 COUNCIL HOUSE ST., KOLKATA, West Bengal - 700001, INDIA	A05863337

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Other equipments

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. 62.82
UK Pound	1	Rs. 93.85
Euro	1	Rs. 67.59

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	8
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		68

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.