MIRA INFORM REPORT

Report No. :	312895
Report Date :	27.04.2015

IDENTIFICATION DETAILS

Name :	NARAYANA HRUDAYALAYA PRIVATE LIMITED
Registered Office :	No. 258, Bommasandra Industrial Area, Anekal T.Q. Bangalore, Karnataka – 562158
Tel. No.:	91-80-27835000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.07.2000
Com. Reg. No.:	08-027497
Capital Investment / Paid-up Capital :	Rs. 3.254 Million
CIN No.: [Company Identification No.]	U85110KA2000PTC027497
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRN00795E
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is primarily engaged in the business of rendering medical and healthcare services.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

A (60)

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 an established company having good track record. The company is progressing well. Reserves level of the company is decent. General financial of the company is sound healthy. Further the rating also takes into consideration company established position in quality healthcare. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal 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	CRISIL
Rating	Long Term Rating = A+
Rating Explanation	Adequate degree of safety and low credit risk
Date	February 26, 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 DENIED

Management non-cooperative (Tel No.: 91-80-71222222)

LOCATIONS

Registered Office :	No. 258, Bommasandra Industrial Area, Anekal T.Q. Bangalore, Karnataka – 562158, Maharashtra, India
Tel. No.:	91-80-27835000
Fax No.:	91-80-27832648
E-Mail :	info@hrudayalaya.com

DIRECTORS

AS ON 29.09.2014

Name :

Devi Prasad Shetty

Designation :

Chairman cum Managing Director

Address :

Narayana, 393, 2^nd Cross, 13^th Main, 3^rd Block, Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

08.05.1953

Date of Appointment :

03.11.2011

PAN No.:

00252187

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	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Whole-time director	03/11/2011	19/07/2000	-	Active	NO
2	U85110KA2004PTC033913	NARAYANA HOSPITALS PRIVATE LIMITED	Managing director	10/05/2004	10/05/2004	-	Active	NO
3	U80103KA2006PTC040796	NARAYANA HEALTH ACADEMY PRIVATE LIMITED	Director	27/10/2006	27/10/2006	-	Active	NO
4	U85121KA2006PTC040989	NARAYANA INSTITUTE FOR ADVANCED RESEARCH PRIVATE LIMITED	Director	20/11/2006	20/11/2006	-	Active	NO
5	U85110KA2004PTC034819	SWISS RE HEALTHCARE SERVICES PRIVATE LIMITED	Director	03/04/2007	03/04/2007	-	Amalgamated	NO
6	U85199KA2002PTC030218	Vidal Health TPA Private Limited	Director	03/04/2007	03/04/2007	31/03/2011	Active	NO
7	U85110KA2008PTC046981	NARAYANA HEALTH INSTITUTIONS PRIVATE LIMITED	Managing director	01/07/2008	01/07/2008	-	Active	NO
8	U85120KA2010PTC054400	Axiss Dental South Private Limited	Director	08/07/2010	08/07/2010	17/09/2012	Active	NO
9	U85100KA2010PTC055453	NARAYANA HRUDAYALAYA SURGICAL HOSPITAL PRIVATE LIMITED	Director	11/10/2010	11/10/2010	-	Active	NO
10	U85100KA2013NPL069050	Mazumdar Shaw Medical Foundation	Director	10/05/2013	10/05/2013	-	Active	NO
11	U85110KA2004PLC078947	ASIA HEALTHCARE DEVELOPMENT LIMITED	Director	30/09/2014	03/03/2014	-	Active	NO
12	U85110KA2014PTC076218	Narayana Vaishno Devi Specialty Hospitals Private Limited	Director	05/09/2014	05/09/2014	-	Active	NO
13	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Director	27/03/2015	25/03/2015	-	Active	NO

Name :

Shakunthala Shetty

Designation :

Whole Time Director

Address :

Narayana, 393, 2^nd Cross, 13^th Main, 3^rd Block, Koramanagala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

17.08.1962

Date of Appointment :

03.09.2014

PAN No.:

00252195

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	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Whole-time director	03/09/2014	19/07/2000	-	Active	NO
2	U85110KA2004PTC033913	NARAYANA HOSPITALS PRIVATE LIMITED	Director	10/05/2004	10/05/2004	-	Active	NO
3	U80103KA2006PTC040796	NARAYANA HEALTH ACADEMY PRIVATE LIMITED	Director	27/10/2006	27/10/2006	-	Active	NO
4	U85121KA2006PTC040989	NARAYANA INSTITUTE FOR ADVANCED RESEARCH PRIVATE LIMITED	Director	20/11/2006	20/11/2006	-	Active	NO
5	U85110KA2008PTC046981	NARAYANA HEALTH INSTITUTIONS PRIVATE LIMITED	Director	01/07/2008	01/07/2008	-	Active	NO
6	U24100KA2009PTC050471	SHARAVATHI PHARMACY AND MEDICINES PRIVATE LIMITED	Director	24/07/2009	24/07/2009	-	Strike off	NO
7	U85100KA2010PTC055453	NARAYANA HRUDAYALAYA SURGICAL HOSPITAL PRIVATE LIMITED	Director	11/10/2010	11/10/2010	-	Active	NO
8	U72200KA2014PTC075511	KATEEL SOFTWARE PRIVATE LIMITED	Director	25/07/2014	25/07/2014	-	Active	NO

Name :

Kiran Mazumdar Shaw

Designation :

Director

Address :

Glenmore No. 58, Goolimangala Village, Sarjapur Hobli, Anekai Taluk, Bangalore – 562106, Karnataka, India

Date of Birth/Age :

23.03.1953

Date of Appointment :

29.12.2008

PAN No.:

00347229

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	L24234KA1978PLC003417	BIOCON LIMITED	Managing director	01/04/2010	29/11/1978	-	Active	NO
2	U51909KA1993PLC014937	SYNGENE INTERNATIONAL LIMITED	Managing director	14/12/2011	18/11/1993	-	Active	NO
3	U85195KA2000PLC027566	CLINIGENE INTERNATIONAL LIMITED	Director	04/08/2000	04/08/2000	-	Amalgamated	NO
4	U24231KA2002PLC030643	BIOCON BIOPHARMACEUTICALS LIMITED	Managing director	22/03/2007	17/06/2002	-	Amalgamated	NO
5	U80100TG1997NPL036631	INDIAN SCHOOL OF BUSINESS	Director	08/04/2006	08/04/2006	-	Active	NO
6	U85121KA2006PTC040989	NARAYANA INSTITUTE FOR ADVANCED RESEARCH PRIVATE LIMITED	Director	17/01/2007	17/01/2007	-	Active	NO
7	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Director	29/12/2008	06/02/2008	-	Active	NO
8	U73100KA2008PLC046583	BIOCON RESEARCH LIMITED	Director	28/05/2008	28/05/2008	-	Active	NO
9	L36999KA1999PLC025195	UNITED BREWERIES LIMITED	Director	20/08/2010	26/10/2009	-	Active	NO
10	U70200KA2010PTC052807	Glenloch Properties Private Limited	Director	09/03/2010	09/03/2010	-	Active	NO
11	U85100KA2013NPL069050	Mazumdar Shaw Medical Foundation	Director	10/05/2013	10/05/2013	-	Active	NO
12	U80301KA2013NPL072272	BIOCON ACADEMY	Director	03/12/2013	03/12/2013	-	Active	NO
13	L85110KA1981PLC013115	INFOSYS LIMITED	Director	14/06/2014	10/01/2014	-	Active	NO
14	U85110KA2014PTC076218	Narayana Vaishno Devi Specialty Hospitals Private Limited	Director	05/09/2014	05/09/2014	-	Active	NO
15	U24232KA2014PLC077036	Biocon Pharma Limited	Director	31/10/2014	31/10/2014	-	Active	NO

Name :

Viren Shetty

Designation :

Whole Time Director

Address :

#393 Cross Lane, 3^rd Block, 13^th Main, Koramanagala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

18.05.1984

Date of Appointment :

02.08.2012

PAN No.:

02144586

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	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Whole-time director	02/08/2012	10/04/2008	-	Active	NO
2	U24100KA2009PTC050471	SHARAVATHI PHARMACY AND MEDICINES PRIVATE LIMITED	Director	24/07/2009	24/07/2009	-	Strike off	NO
3	U33120KA2010PTC054496	AMARYLLIS HEALTHCARE PRIVATE LIMITED	Director	15/07/2010	15/07/2010	-	Active	NO
4	U85110KA2004PLC078947	ASIA HEALTHCARE DEVELOPMENT LIMITED	Director	30/09/2014	03/03/2014	-	Active	NO
5	U72200KA2014PTC075511	KATEEL SOFTWARE PRIVATE LIMITED	Director	25/07/2014	25/07/2014	-	Active	NO
6	U85110KA2014PTC076218	Narayana Vaishno Devi Specialty Hospitals Private Limited	Director	05/09/2014	05/09/2014	-	Active	NO

Name :

Dinesh Krishaswamy

Designation :

Director

Address :

No. 467, 19^th Main, 36^th Cross, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India

Date of Birth/Age :

06.06.1954

Date of Appointment :

29.12.2008

PAN No.:

00041553

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	L85110KA1981PLC013115	INFOSYS LIMITED	Whole-time director	01/05/2002	01/05/2002	11/06/2011	Active	NO
2	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Director	29/12/2008	10/04/2008	-	Active	NO
3	U85110KA2014PTC076218	Narayana Vaishno Devi Specialty Hospitals Private Limited	Additional director	06/09/2014	06/09/2014	-	Active	NO

Name :

Christpher John Nicholas

Designation :

Director

Address :

Flat A, 64/F, Tower 3, Tregunter Building, 14 Tregunter Path, Mid-levels, Hongkong

Date of Birth/Age :

03.12.1962

Date of Appointment :

19.08.2010

PAN No.:

02069206

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	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Nominee director	19/08/2010	10/04/2008	-	Active	NO
2	U65993TN2001PLC046691	L&T INFRASTRUCTURE DEVELOPMENT PROJECTS LIMITED	Director appointed in casual vacancy	10/05/2010	10/05/2010	06/10/2010	Active	NO
3	U45201DL2003PTC122489	PARSVNATH LANDMARK DEVELOPERS PRIVATE LIMITED	Director	30/09/2013	29/04/2013	06/11/2014	Active	NO
4	U45201DL2003PLC121733	BPTP Limited	Nominee director	30/09/2013	31/05/2013	31/03/2015	Active	NO

Name :

Ashutosh Raghuvanshi

Designation :

Managing Director

Address :

1050/1 Survey Park, Udita Comp, UD 02 1202, Santoshpur, Kolkata – 70075, West Bengal, India

Date of Birth/Age :

11.08.1962

Date of Appointment :

19.03.2009

Name :

Varun Shetty

Designation :

Whole Time Director

Address :

No. 393, 2^nd Cross, 13^th Main, 3^rd Block, Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

01.03.1986

Date of Appointment :

18.12.2012

PAN No.:

03190952

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	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Whole-time director	18/12/2010	19/08/2010	-	Active	NO
2	U72200KA2014PTC075511	KATEEL SOFTWARE PRIVATE LIMITED	Director	25/07/2014	25/07/2014	-	Active	NO

Name :

Harjit Singh Bhatia

Designation :

Director

Address :

18, Bishopsgate, Singapore

Date of Birth/Age :

08.10.1949

Date of Appointment :

17.12.2012

PAN No.:

02285424

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	U45200TG2001PLC038175	INDU PROJECTS LIMITED	Director	07/08/2008	07/08/2008	12/09/2014	Active	NO
2	L35912MH1970PLC014819	KINETIC ENGINEERING LTD	Director	28/09/2013	13/02/2012	09/07/2014	Active	NO
3	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Director	30/09/2013	17/12/2012	-	Active	NO
4	U85110KA1987PLC008228	AVASARALA TECHNOLOGIES LIMITED	Director	30/09/2013	28/01/2013	-	Active	NO
5	U67120MH2007PTC173468	PineBridge Investments India Advisors Private Limited	Director	20/09/2013	25/02/2013	30/11/2014	Active	NO
6	U74999MH2014PTC259046	ASIA GROWTH CAPITAL ADVISORS (INDIA) PRIVATE LIMITED	Director	31/10/2014	31/10/2014	-	Active	NO

Name :

Ashish Kumar Agarwal

Designation :

Director

Address :

Flat No. 402, 4^th Floor, B Wing, Viv Area Building, M A Road, Jacob Circle, Mumbai – 400011, Maharashtra, India

Date of Birth/Age :

06.03.1972

Date of Appointment :

01.11.2012

PAN No.:

00139386

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	U28999KA2001PTC029937	FIREPRO SYSTEMS PRIVATE LIMITED	Nominee director	25/09/2012	31/03/2006	-	Active	NO
2	U85110KA1987PLC008228	AVASARALA TECHNOLOGIES LIMITED	Director	30/09/2013	18/04/2007	-	Active	NO
3	U74899DL1994PLC061753	UNIPARTS INDIA LIMITED	Nominee director	18/09/2007	18/09/2007	-	Active	NO
4	U29214DL2005PTC132107	GRIPWEL FASTENERS PRIVATE LIMITED	Director	22/09/2008	21/01/2008	-	Active	NO
5	L35912MH1970PLC014819	KINETIC ENGINEERING LTD	Director	18/11/2008	14/02/2008	12/09/2014	Active	NO
6	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	18/09/2012	09/03/2009	30/10/2012	Active	NO
7	U67120MH2007PTC173468	PineBridge Investments India Advisors Private Limited	Director	18/06/2009	18/06/2009	30/11/2014	Active	NO
8	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Alternate director	17/12/2012	01/11/2012	-	Active	NO
9	U29110MH1990PLC055506	SKIL Infrastructure Limited	Director	28/12/2012	26/11/2012	-	Amalgamated	NO
10	U74120MH2013PTC248536	Infinity Consultancy Services Private Limited	Director	24/09/2013	24/09/2013	-	Active	NO
11	AAC-8919	INFINITY ALTERNATIVES ADVISORS LLP	Designated Partner	10/11/2014	10/11/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Devi Prasad Shetty	115385	35.46
Shakunthala Shetty	110860	34.07
Narayana Health Academy Private Limited, India	15620	4.80
Ashoka Investment Holdings Limited, Mauritius	29006	8.91
Ambadevi Mauritius Holidngs Limited, Mauritius	8701	2.67
J P Morgan Mauritius Holding Limited, Mauritius	37707	11.59
Kiran Mazumdar Shaw	8135	2.50
Total	325414	100.00

AS ON 29.09.2014

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	23.17
Bodies corporate	4.80
Directors or relatives of Directors	72.03
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is primarily engaged in the business of rendering medical and healthcare services.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	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 :

• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr.  Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
• Kotak Mahindra Bank Limited, 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400051, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Rupee term loan from others	456.375	508.473
Rupee term loan from banks	1715.787	1223.420
SHORT TERM BORROWINGS
Term loan from banks	522.171	225.000
Total	2694.333	1956.893

Auditors :
Name :	B S R R and Company Chartered Accountants
Address :	Bangalore, Karnataka, India
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital : Rs. 3000.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 3.458 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
325414	Equity Shares	Rs. 10/- each	Rs. 3.254 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	3.254	3.254	3.254
(b) Reserves & Surplus	5815.673	5458.574	5198.444
(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)	5818.927	5461.828	5201.698
(3) Non-Current Liabilities
(a) long-term borrowings	2172.162	1731.893	1112.666
(b) Deferred tax liabilities (Net)	302.776	254.418	200.059
(c) Other long term liabilities	20.857	0.000	0.000
(d) long-term provisions	61.469	54.505	48.014
Total Non-current Liabilities (3)	2557.264	2040.816	1360.739
(4) Current Liabilities
(a) Short term borrowings	522.354	225.183	0.183
(b) Trade payables	1563.715	742.302	672.166
(c) Other current liabilities	962.168	900.661	572.254
(d) Short-term provisions	38.692	25.832	36.851
Total Current Liabilities (4)	3086.929	1893.978	1281.454
TOTAL	11463.120	9396.622	7843.891
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6275.566	5044.086	4110.540
(ii) Intangible Assets	71.086	51.035	4.397
(iii) Capital work-in-progress	121.035	444.519	794.311
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	541.282	314.259	125.371
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1926.565	1680.430	1533.487
(e) Other Non-current assets	13.059	13.401	0.000
Total Non-Current Assets	8948.593	7547.730	6568.106
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	480.871	364.018	271.410
(c) Trade receivables	1402.939	1045.350	705.456
(d) Cash and cash equivalents	223.136	161.037	138.112
(e) Short-term loans and advances	278.111	204.063	116.214
(f) Other current assets	129.470	74.424	44.593
Total Current Assets	2514.527	1848.892	1275.785
TOTAL	11463.120	9396.622	7843.891

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL (A)	10913.200	8273.500	6494.300
Less	EXPENSES
		TOTAL (B)	9565.100	7295.600	5612.800
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1348.100	977.900	881.500
Less	FINANCIAL EXPENSES (D)		266.900	156.800	87.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1081.200	821.100	794.500
Less/ Add	DEPRECIATION/ AMORTISATION (F)		525.200	422.600	341.700
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		556.000	398.500	452.800
Less	TAX (H)		200.400	138.400	139.500
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		355.600	260.100	313.300
	Earnings / (Loss) Per Share (Rs.)		1092.76	799.29	962.77

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	3.26	3.14	4.82
Operating Profit Margin (PBDIT/Sales)	(%)	12.35	11.82	13.57
Return on Total Assets (PBT/Total Assets}	(%)	5.15	4.61	6.54
Return on Investment (ROI) (PBT/Networth)		0.10	0.07	0.09
Debt Equity Ratio (Total Debts/Networth)		0.46	0.36	0.21
Current Ratio (Current Asset/Current Liability)		0.81	0.98	1.00

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	3.254	3.254	3.254
Reserves & Surplus	5198.444	5458.574	5815.673
Net worth	5201.698	5461.828	5818.927
long-term borrowings	1112.666	1731.893	2172.162
Short term borrowings	0.183	225.183	522.354
Total borrowings	1112.849	1957.076	2694.516
Debt/Equity ratio	0.214	0.358	0.463

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)
Total Income	6494.300	8273.500	10913.200
		27.396	31.905

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	6494.300	8273.500	10913.200
Profit	313.300	260.100	355.600
	4.82%	3.14%	3.26%

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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10550997	12/01/2015	100,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA	C44544948
2	10509859	09/07/2014	300,000,000.00	KOTAK MAHINDRA BANK LIMITED	27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra - 400051, INDIA	C11921509
3	10521183	06/06/2014	250,000,000.00	YES BANK LIMITED	Nehru Centere, 9th Floor, Discovery of India, Dr. A B Road, Worli, Mumbai, Maharashtra - 400018,  INDIA	C21715271
4	10490160	05/05/2014 *	400,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C07665714
5	10462144	30/06/2014 *	283,500,000.00	Export-Import Bank of India	Centre One Building, Floor 21,World trade centre, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA	C13803671
6	10431031	11/06/2013	150,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI  TED	NO. 7, M G ROAD, BANGALORE, Karnataka - 560001, INDIA	B77071835
7	10414629	25/02/2013	96,000,000.00	GE CAPITAL SERVICES INDIA	401, 402, 4th Floor, Aggarwal Millennium Tower, E-1,2,3, Netaji Subhash Place, Wazirpur,, New Delhi, Delhi - 110034, INDIA	B71755896
8	10406702	12/07/2013 *	300,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B79893053
9	10396091	28/12/2012	76,000,000.00	GE CAPITAL SERVICES INDIA	401, 402, 4th Floor, Aggarwal Millennium Tower, E-1,2,3, Netaji Subhash Place, Wazirpur, New Delhi, Delhi - 110034, INDIA	B65557555
10	10402252	26/12/2012	47,500,000.00	GE CAPITAL SERVICES INDIA	401, 402, 4th Floor, Aggarwal Millennium Tower,,  E-1,2,3, Netaji Subhash Place, Wazirpur,, New Delhi, Delhi - 110034, INDIA	B67813279

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Rupee term loan from banks	0.183	0.183
Total	0.183	0.183

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Furniture and Fixture
• Vehicles
• Office Equipments
• Computer Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.40
UK Pound	1	Rs. 95.42
Euro	1	Rs. 68.49

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	8
--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		60

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.