MIRA INFORM REPORT

Report No. :	336826
Report Date :	14.08.2015

IDENTIFICATION DETAILS

Name :	NUBERG ENGINEERING LIMITED (w.e.f 02.04.2008)

Formerly Known As :	NUBERG ENGINEERING PRIVATE LIMITED

Registered Office :	1223, Gali No.83, Shanti Nagar, Trinagar, New Delhi – 110 035

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	21.06.1996

Com. Reg. No.:	55-079817

Capital Investment / Paid-up Capital :	Rs.100.362 million

CIN No.: [Company Identification No.]	U74210DL1996PLC079817

IEC No.:	0596049480

TAN No.: [Tax Deduction & Collection Account No.]	DELN02816C

PAN No.: [Permanent Account No.]	AAACN3523A

Legal Form :	A Closely Held Public Limited Company

Line of Business :	Subject is engaged into providing EPC services and manufacturing of gas generators, heat exchangers, condensers, reactors, pressure vessels, columns, and storage tanks and also undertakes project for laying and installing chemicals plants, where customers specify the design and technology.

No. of Employees :	Approximately 357 (In Office: 281, In Factory: 56, In Branch: 20)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1002100

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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	Moderate degree of safety and moderate credit risk.
Date	10.04.2015

Rating Agency Name	CRISIL
Rating	Short-Term Rating: A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	10.04.2015

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 31-03-2013.

INFORMATION DECLINED BY

Name :	Mr. Rajesh Bhandari
Designation :	Marketing Manager
Contact No.:	91-9313490608
Date :	13.08.2015

LOCATIONS

Registered Office :	1223, Gali No.83, Shanti Nagar, Trinagar, New Delhi – 110 035, India
Tel. No.:	Not Available
Mobile No.:	91-9313490608 (Mr. Rajesh Bhandari)
Fax No.:	Not Available
E-Mail :	aksingh@nuberg.in bhandari@nuberg.in nuberg@nuberg.in
Website :	http://www.nubergindia.com
Location :	Rented

Corporate Office :	“Nuberg House”, A-38 H, Sector-64, Noida – 201 301, Uttar Pradesh, India
Tel. No.:	91-120-2403101/ 2403102/ 2403103
Fax No.:	91-120-2403104
E-Mail :	nuberg@del6.vsnl.net.in nuberg@nuberg.in
Area :	9256 sq. ft.

Factory 1 :	Plot No.679, Road No.7, GIDC Estate, Jhagadia, District Bharuch – 393 110, Gujarat, India
Tel No:	91-120-2403101/ 2/ 3
Fax No:	91-120-2403104
Area :	674897 sq. ft.
Location :	Owned

Factory 2 :	D7 and 29, Phase – II, Extension, Noida – 201 301, Uttar Pradesh, India
Area :	10333.4 sq. ft.
Location :	Owned

Branch Office :	Located at: · Mumbai · Hyderabad · Ahmedabad
Location :	Owned

DIRECTORS

AS ON 31.03.2015

Name :

Mr. Vinod Kumar Gupta

Designation :

Managing Director

Address :

D-44, Sector 39, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

24.08.1960

Qualification :

B.E (Mech)

Date of Appointment :

01.04.2015

DIN No.:

00312784

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	U74210DL1996PLC079817	NUBERG ENGINEERING LIMITED	Managing director	01/04/2015	21/06/1996	-	Active	NO
2	U51103DL2002PTC115423	NUBERG EXPORTS PRIVATE LIMITED	Director	17/05/2002	17/05/2002	-	Active	NO
3	U24100DL2007PLC170698	INDIAN PEROXIDE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
4	U24100DL2010PTC205725	NUBERG INDUSTRIES PRIVATE LIMITED	Director	12/07/2010	12/07/2010	-	Active	NO

Name :

Mr. Anil Kumar Tyagi

Designation :

Managing Director

Address :

B-104, Sector 39, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

05.03.1960

Qualification :

B.E (Mech)

Date of Appointment :

01.04.2015

DIN No.:

00312763

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	U74210DL1996PLC079817	NUBERG ENGINEERING LIMITED	Managing director	01/04/2015	21/06/1996	-	Active	NO
2	U51103DL2002PTC115423	NUBERG EXPORTS PRIVATE LIMITED	Director	17/05/2002	17/05/2002	-	Active	NO
3	U24100DL2007PLC170698	INDIAN PEROXIDE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
4	U24100DL2010PTC205725	NUBERG INDUSTRIES PRIVATE LIMITED	Director	12/07/2010	12/07/2010	-	Active	NO
5	U24119DL2008PTC175910	INVENTA ORGANICS PRIVATE LIMITED	Director	30/09/2010	10/09/2010	-	Active	NO
6	U29220DL2008PTC175915	CORAL EQUIPMENTS PRIVATE LIMITED	Director	30/09/2010	10/09/2010	-	Active	NO

Name :

Mrs. Shashi Tyagi

Designation :

Director

Address :

B-104, Sector 39, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

11.03.1959

Qualification :

M.A

Date of Appointment :

01.04.2005

DIN No.:

00312665

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	U74899DL1995PTC064476	AMITY EXIM PRIVATE LIMITED	Director	18/01/1995	18/01/1995	-	Active	NO
2	U74210DL1996PLC079817	NUBERG ENGINEERING LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
3	U72200DL2005PTC135735	ANAND COMPUTECH PRIVATE LIMITED	Director	02/01/2007	02/01/2007	-	Active	NO
4	U24100DL2007PLC170698	INDIAN PEROXIDE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
5	U32204DL2006PTC156458	CITRUS TECHNOLOGIES PRIVATE LIMITED	Director	26/02/2008	26/02/2008	-	Active	NO

Name :

Mrs. Sugandha Gupta

Designation :

Director

Address :

D-44, Sector 39, Noida – 201 301, Uttar Pradesh, India

Date of Birth/Age :

12.10.1958

Qualification :

M.A

Date of Appointment :

01.04.2005

DIN No.:

00312701

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	U74210DL1996PLC079817	NUBERG ENGINEERING LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
2	U24100DL2007PLC170698	INDIAN PEROXIDE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
3	U29100DL2008PTC175806	ACCENT ENGINEERING PRIVATE LIMITED	Director	24/03/2008	24/03/2008	-	Active	NO
4	U74120DL2008PTC175754	ANTIQUE ENGINEERING PRIVATE LIMITED	Director	24/03/2008	24/03/2008	-	Active	NO

Name :

Mr. Amit Kumar Pandey

Designation :

Director

Address :

149, Badi Jugauli, Lucknow – 227 106, Uttar Pradesh, India

Date of Appointment :

27.03.2015

DIN No.:

03439500

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	U45400UP2012PTC053646	ROYALTECH DEVELOPERS PRIVATE LIMITED	Director	14/11/2012	14/11/2012	-	Active	NO
2	U74210DL1996PLC079817	NUBERG ENGINEERING LIMITED	Director	27/03/2015	27/03/2015	-	Active	NO

Name :

Ms. Kalpana

Designation :

Director

Address :

975-976A, Huda Colony, Sector-3, Ballabhgarh, Faridabad – 121 004, Haryana, India

Date of Appointment :

27.03.2015

DIN No.:

06594720

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	U74900DL2011PTC219663	WISDOM MANAGEMENT CONSULTANCY PRIVATE LIMITED	Director	28/05/2013	28/05/2013	-	Active	NO
2	U74210DL1996PLC079817	NUBERG ENGINEERING LIMITED	Director	27/03/2015	27/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajesh Bhandari
Designation :	Marketing Manager

Name :	Mr. Ajay Kumar Singh
Designation :	Secretary
Address :	139, IInd Floor, Sector 3-F, Vaishali, Ghaziabad – 201 010, Uttar Pradesh, India
Date of Appointment :	30.05.2011
PAN No.:	BTOPS8210E

Name :	Mr. Vinod Kumar Mahaulia
Designation :	Chief Financial Officer
Address :	Flat No.4, Plot No.A7, Radhey Krishna Apartment, Rampuri, Surya Nagar, Ghaziabad – 201 011, Uttar Pradesh, India
Date of Appointment :	01.09.2014
PAN No.:	ADHPM8732D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Anil Kumar Tyagi	5010000	49.91
Vinod Kumar Gupta	5010000	49.91
Sandeep Tyagi	2700	0.03
R.D. Gupta	2700	0.03
Rama Gupta	2700	0.03
Shashi Tyagi	2700	0.03
Sugandha Gupta	2700	0.03
Subodh Tyagi	2700	0.03
Total	10036200	100.00

AS ON 28.09.2013

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged into providing EPC services and manufacturing of gas generators, heat exchangers, condensers, reactors, pressure vessels, columns, and storage tanks and also undertakes project for laying and installing chemicals plants, where customers specify the design and technology.

Products/ Services :

Product Description

ITC Code

Gas Generator

84051010

· PSA Nitrogen Gas Plants

· Compressed Air Dryers

· Ammonia Crackers

· Hydrogen Gas Plants - Ammonia Cracker Based

· Hydrogen Gas Plants – Water Electrolysis Based

· Gas Purification Systems

· Ammonia Storage Systems

· PSA Oxygen Gas Plants

· VPSA Oxygen Gas Plants

· Chemical projects on LSTK basis

· Heavy fabrication Work

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS – AS ON 31.03.2014

1. Average actual Number of Plants Manufactured Per Annum : 50

2. Production capacity : 70 – 75 Plants per Annum

GENERAL INFORMATION

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Reference :

SRF Limited – Gwalior

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

· Cargill Foods Private Limited – Gurgaon

· Cipla Limited - Kurkumbh

No. of Employees :

Approximately 357 (In Office: 281, In Factory: 56, In Branch: 20)

Bankers :

Banker Name	Union Bank of India
Branch Address	SSI Branch, Sector-15, Naya Bans, Gautam Budh Nagar, Noida – 201 301, Uttar Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	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)	Rs. 750.000 Millions
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loan From Banks
Tata Capital Limited	16.249	36.249
Gujarat Industrial Development Corporation	4.402	5.869
SHORT TERM BORROWINGS	20.651	42.118
Working Capital Loans [Working capital loans are secured by hypothecation of present and future stock of raw materials, stock-in-process, finished goods, stores and spares (not relating to plant and machinery) receivables, claims, bills, materials in transit, and Unconditional Personal Guarantee of Directors.]
From Banks
Rupee Banks
UBI-CC A/C	50.856	53.130
UBI-FBD A/C	15.857	0.000
UBI-PCL A/C	74.038	89.430
Total	161.402	184.678

Financial Institution :	Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai – 400 001, Maharashtra, India

Auditors :
Name :	PVR and Co. Chartered Accountants
Address :	602-A, Deepshikha, Rajendra Palace, New Delhi – 110 008, India
Tel. No.:	91-11-25750408
E-Mail :	cavinayjain@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAMFP2884K

Memberships :	Not Available

Collaborators :	Not Available

Other Related Parties (Common Director/ Director’s Relative)	Citrus Technologies Private Limited Coral Equipment Private Limited Inventa Organics Private Limited Nuberg Export Private Limited Nuberg Industries Private Limited Indian Peroxide Limited Accent Engineering Private Limited Antique Engineering Private Limited Emerging Engineers Private Limited Amity E-Tech Private Limited Amity Exim Private Limited Inventa Infocom Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10036200	Equity Shares	Rs.10/- each	Rs.100.362 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	100.362	100.362	100.362
(b) Reserves & Surplus	250.388	175.508	142.609
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	10.000
Total Shareholders’ Funds (1) + (2)	350.750	275.870	252.971

(3) Non-Current Liabilities
(a) long-term borrowings	79.753	98.044	119.668
(b) Deferred tax liabilities (Net)	9.775	8.056	6.517
(c) Other long term liabilities	11.222	6.275	1.085
(d) long-term provisions	14.486	12.630	10.019
Total Non-current Liabilities (3)	115.236	125.005	137.289

(4) Current Liabilities
(a) Short term borrowings	140.751	142.560	111.330
(b) Trade payables	291.800	299.598	325.424
(c) Other current liabilities	346.326	199.867	235.049
(d) Short-term provisions	70.994	35.927	22.300
Total Current Liabilities (4)	849.871	677.952	694.103

TOTAL	1315.857	1078.827	1084.363

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	309.167	309.936	305.791
(ii) Intangible Assets	1.288	0.704	0.000
(iii) Capital work-in-progress	1.201	0.000	4.497
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	5.000	5.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	18.823	3.832	1.972
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	335.479	319.472	312.260

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	61.739	155.441	82.070
(c) Trade receivables	525.316	390.466	414.582
(d) Cash and cash equivalents	165.787	88.977	162.603
(e) Short-term loans and advances	194.801	118.453	112.848
(f) Other current assets	32.735	6.018	0.000
Total Current Assets	980.378	759.355	772.103

TOTAL	1315.857	1078.827	1084.363

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	1423.384	1249.697	888.933
		Other Income	50.470	22.513	49.065
		TOTAL	1473.854	1272.210	937.998

Less	EXPENSES
		Cost of Materials Consumed	725.928	747.444	513.368
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	26.781	(27.771)	(2.477)
		Employees benefits expense	161.780	134.780	104.039
		Other expenses	347.387	289.564	250.461
		TOTAL	1261.876	1144.017	865.391

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		211.978	128.193	72.607

Less	FINANCIAL EXPENSES		41.504	42.916	32.367

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		170.474	85.277	40.240

Less/ Add	DEPRECIATION/ AMORTISATION		10.126	9.303	8.573

	PROFIT/ (LOSS) BEFORE TAX		160.348	75.974	31.667

Less	TAX		55.783	25.585	11.703

	PROFIT/ (LOSS) AFTER TAX		104.565	50.389	19.964

	EARNINGS IN FOREIGN CURRENCY
		FOB Value Export	759.459	705.203	393.834
		Consultancy Services	222.847	22.722	32.466
	TOTAL EARNINGS		982.306	727.925	426.300

	IMPORTS
		CIF Value of Imports	152.526	279.273	46.073
	TOTAL IMPORTS		152.526	279.273	46.073

	Earnings / (Loss) Per Share (Rs.)		10.42	5.02	1.99

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current maturities of long-term debt	26.242	28.353	26.002
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	11.596	69.259
Net cash flows from (used in) operating activities	NA	(12.641)	32.629

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	7.35	4.03	2.25

Operating Profit Margin (PBIDT/Sales)	(%)	14.89	10.26	8.17

Return on Total Assets (PBT/Total Assets}	(%)	12.24	7.08	2.93

Return on Investment (ROI) (PBT/Networth)		0.46	0.28	0.13

Debt Equity Ratio (Total Debt /Networth)		0.70	0.97	1.02

Current Ratio (Current Asset/Current Liability)		1.15	1.12	1.11

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	100.362	100.362	100.362
Reserves & Surplus	142.609	175.508	250.388
Share Application money pending allotment	10.000	0.000	0.000
Net worth	252.971	275.870	350.750

Long-term borrowings	119.668	98.044	79.753
Short term borrowings	111.330	142.560	140.751
Current Maturities of Long term debt	26.002	28.353	26.242
Total borrowings	257.000	268.957	246.746
Debt/Equity ratio	1.016	0.975	0.703

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
Revenue from operations	888.933	1249.697	1423.384
		40.584	13.898

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Revenue from operations	888.933	1249.697	1423.384
Profit	19.964	50.389	104.565
	2.25%	4.03%	7.35%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity-Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Car Loan	2.817	0.696
Others	56.285	55.230
Total	59.102	55.926

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10327258	28/07/2014 *	140,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES, DR V B GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	C17407701
2	10034296	09/03/2015 *	750,000,000.00	UNION BANK OF INDIA	SSI BRANCH, SECTOR-15, NAYA BANS, GAUTAM BUDH NAGAR, NOIDA, UTTAR PRADESH - 201301, INDIA	C46393542
3	10013636	29/06/2006	350,000.00	UNION BANK OF INDIA	SSI BRANCH, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA	A02513646

* Date of charge modification

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
FDR’s pledges with the Bank as margin money against bank guarantee and letter of credit	146.061	79.704
Bank Guarantee and Letter of Credit	475.804	228.907
Counter Guarantee Given by Company	475.804	228.907
Demand raised by the Sales Tax Department, which are under rectification and appeal.	0.336	0.499

FIXED ASSETS

· Land

· Building

· Canteen

· Air Condition

· Generator

· Lift

· Plant and Equipment

· Furniture and Fixture

· Computers

· UPS and Purifiers

· Vehicles

· Motor Car

· Cycle

· Car

· Scooter

· Office 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.64.92
UK Pound	1	Rs.101.44
Euro	1	Rs.72.26

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	KAR

Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.

MIRA INFORM REPORT

INDEX OF CHARGES:

Unit