MIRA INFORM REPORT

Report No. :	337546
Report Date :	20.08.2015

IDENTIFICATION DETAILS

Name :	KEI INDUSTRIES LIMITED
Registered Office :	D-90, Okhla Industrial Area, Phase I, New Delhi - 110020
Tel. No.:	91-11-26818840/8642/0242
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	31.12.1992
Com. Reg. No.:	55-051527
Capital Investment / Paid-up Capital :	Rs.154.470 Million
CIN No.: [Company Identification No.]	L74899DL1992PLC051527
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELK05368G DELK05577F
PAN No.: [Permanent Account No.]	AAACK0251C
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	The company is engaged in manufacturing wide variety of cables including low tension (LT), high tension (HT) and extra high voltage (EHV) power cables ranging from 66 kV/110 kV/132 kV/220 kV, control and instrumentation cables, rubber cables, winding wires and stainless steel wires. The company also has presence in engineering procurement and construction (EPC) and turn-key solutions segment for infrastructure projects.
No. of Employees :	3000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 8700000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in 1968 as a partnership firm with the name of Krishna Electrical Industries and in 1992, the firm became a public limited company under the name of KEI Industries Limited. For the financial year ended 2015, company possesses healthy operational performance and it has maintained sound during a year under a review. Rating also takes into consideration experience of the promoters and their demonstrated financial support along with KEI’s long track record of operations and established market position in the cable industry. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. In view of aforesaid, 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities : BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	10.07.2015

Rating Agency Name	CARE
Rating	Short term bank facilities : A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	10.07.2015

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 DENIED BY

Name :	Mr. Vijay Kumar
Designation :	Account Executive
Contact No.:	91-11-26818840
Date :	19.08.2015

LOCATIONS

Registered Office / Corporate Office :	D-90, Okhla Industrial Area, Phase I, New Delhi-110020, India
Tel. No.:	91-11-26818840/8642/0242
Mobile No. :	91-9873120289 (Mr. Kunal)
Fax No.:	91-11-26817225/26811959
E-Mail :	cs@kei-ind.com info@kei-ind.com delhi@kei-ind.com
Website :	http://www.kei-ind.com
Location :	Owned
Factory 1 :	SP-919/920/922 RIICO Industrial Area, Phase - III, Bhiwadi, District Alwar - 301019, Rajasthan, India
Tel. No.:	91-1493-220106/221731
Fax No.:	91-1493-221731
E-Mail :	bhiwadi@kei-ind.com
Factory 2 :	99/2/7, Madhuban Industrial Estate, Village Rakholi, Silvassa - 396230, Dadra and Nagar Haveli, Union Territory
Tel. No.:	91-260-2644404/2630944
Fax No.:	91-260-2645896
E-Mail :	silvassa@kei-ind.com
Factory 3 :	Plot No.A-280/281/282/283/284 RIICO Industrial Area (Chopanki), District Alwar -301019, Rajasthan, India
Tel. No.:	91-1493-260202/06
Fax No.:	91-1493-260203
E-Mail :	chopanki@kei-ind.com
Overseas Office :	Dubai Post Box No. 261739, Jebel Ali Free Zone, Dubai, U.A.E. Tel: +97148812310/ +971502112013 Fax: +97148812311 E-mail: dubai@kei-ind.com
Branch Offices :	Mumbai (Marketing Office) 101/102, Vastu Shilp, Vastu Enclave, Andheri Pump House, Andheri (East), Mumbai-400093, Maharashtra, India Tel: 91-22-28239673 / 28375642 Fax: 91-22-28258277 e-mail: mumbai@kei-ind.com Jaipur 7 Kailash Path, Suraj Nagar (West) Civil lines, Jaipur-302006, Rajasthan, India Tel: 91-141-5179279 Fax No.: 91-141-2221707 Email : jaipur@kei-ind.com Pune Office No. 410, Amit Court, Behind Mangala Talkies, Shivajinagar, Pune-411005, Maharashtra, India Tel: 91-20-30526258/ 30524765 Email : pune@kei-ind.com Baroda 803, Siddharth Complex, Near Hotel Express, R. C. Dutt, Road, Baroda-390007, Gujarat, India Tel: 91-265-6539719 / 2341831 Fax: 91-265-2334161 e-mail: baroda@kei-ind.com Bangalore 72/2, Ground Floor, Railway Parallel Road, Kumara Park West, Bangalore-560 020, Karnataka, India Tel: 91-80-23466260 e-mail: bangalore@kei-ind.com Chennai F-1, Sir Usman Court, New No. 63, (Old No. 27), Eldams Road, Teynampet, Chennai-600018, Tamilnade, India Tel: 91-44-42009120 Fax: 91-44-42009130 e-mail: chennai@kei-ind.com Hyderabad Plot No. 76, H.No.: 3-14-52/1, Shubodaya Colony, Near Little Chums School, Mansoorabad, Vanasthalipuram, Hyderabad-500070, Andhra Pradesh, India Tel: 91-40-20064358 Fax: 91-40-24024260 e-mail: hyderabad@kei-ind.com Kolkata 33, Dr. Sundari Mohan Avenue, 1st Floor, Kolkata-700014, West Bengal, India Tel: 91-33-22866696 Fax: 91-33-22866697 E-mail: kolkata@kei-ind.com Chandigarh SCO 84, 1st Floor, Swastik Vihar, Sector-5, Panchkula-134109, India Tel: 91-172-4416301 Fax: 91-172-4416300 E-mail: chandigarh@kei-ind.com Bhopal S-13, Thada Ram Complex, M.P. Nagar Zone-l, Bhopal – 462011, Madhya Pradesh, India E-mail: bhopal@kei-ind.com Bhubaneshwar C/21, Palashpalli, Near N.C.C. Office, Bhubaneswar-751012, Orissa, India E-mail: bhubneshwar@kei-ind.com Chhatisgarh Soubhagya, 72/10, Nehru Nagar(West), Bhilai-490020, Chhattisgarh, India E-mail: chhatisgarh@kei-ind.com Kanpur 8/6, F.M. Colony, Civil Lines, Kanpur-208001, Uttar Pradesh, India Email: kanpur@kei-ind.com Goa F-1, Shetye Apartments, Antilpeth, Bicholim, Goa-403504, India E-mail: goa@kei-ind.com Nagpur 103, Misal Layout, Nagpur-440014, Maharashtra, India E-mail: nagpur@kei-ind.com Cochin 36/2853, Nagawallil, Balan Menon Road, Kaloor, Cochin-682017, Kerala, India E-mail: cochin@kei-ind.com Coimbatore 136, T.V. Swamy Road, R.S. Puram, Coimbatore-641002, Tamilnadu, India E-mail: coimbatore@kei-ind.com Lucknow 102 First Floor, Saran Chamber-2, 5 Park Road, Lucknow-226001, Uttar Pradesh, India Email: up@kei-ind.com Jamshedpur FlatC1/3, Sabitri Tower, 1^st Floor, Ulyan, Kadam, Jamshedpur – 831005, Jharkhand, India Guwahati 38, Rehabari Bill Par, A. K. Azad Road, Near NE TV, Guwahati – 781008, Assam, India E-mail: guwahati@kei-ind.com

DIRECTORS

AS ON 31.03.2014

Name :	Mr. Anil Gupta
Designation :	Chairman cum Managing Director
Qualification :	B.Com
Date of Appointment :	31.12.1992
Name :	Mrs. Archana Gupta
Designation :	Director
Name :	Mr. Pawan Bholusaria
Designation :	Director
Name :	Mr. Kishan Gopal Somani
Designation :	Director
Name :	Mr. Vikram Bhartia
Designation :	Director
Name :	Mr. Vijay Bhushan
Designation :	Director
Name :	Mr. Rajeev Gupta
Designation :	Whole-time director and Chief Financial Officer, Executive Director (Finance)
Qualification :	Chartered Accountant
Date of Appointment :	14.12.1993

KEY EXECUTIVES

Name :	Mr. N. N. Suri
Designation :	Executive Director (Corporate Strategy)
Name :	Mr. Kishore Kunal
Designation :	Secretary
Name :	Mr. S.L. Kakkar
Designation :	President
Name :	Mr. Manoj Kakkar
Designation :	Sr. Vice President (Marketing)
Name :	Mr. Lalit Sharma,
Designation :	Chief Operating Office
Name :	Mr. P.K. Aggarwal
Designation :	Vice President (Corporate)
Name :	Mr. K.C. Sharma
Designation :	Vice President (Operation)
Name :	Mr. Manish Mantri,
Designation :	Vice President (EPC/EHV)
Name :	Mr. Arvind Shrowty
Designation :	Corporate Advisor
Name :	Mr. N.K. Bajaj
Designation :	Sr. GM-Marketing (Wires and Flexibles)
Name :	Mr. Munishvar Gaur
Designation :	GM (Head-North Marketing Cables)
Name :	Mr. Alok Saha
Designation :	GM (Marketing)
Name :	Mr. Umesh B. Kank
Designation :	GM (Marketing)
Name :	Mr. M.V. Gananath
Designation :	GM-Sales and Marketing
Name :	Mr. Keshav K. Mitra,
Designation :	GM-Sales and Marketing
Name :	Mr. Deepak Manchanda
Designation :	GM (Business Development)
Name :	Mr. Naval Singh Yadav
Designation :	Sr. GM (Technical)
Name :	Mr. Pawan Kumar Jain
Designation :	GM (EPC)
Name :	Mr. Dilip Barnwal
Designation :	Vice President (Operation-Silvassa)
Name :	Mr. Ajay Mehra
Designation :	GM (Works - Bhiwadi)
Name :	Mr. Adarsh Jain
Designation :	GM (Finance)
Name :	Mr. Kunal Gupta
Designation :	GM (International Marketing)
Name :	Mr. Gaurav Sahi
Designation :	Head - Corporate Communication
Name :	Mr. Anaand Kishore
Designation :	GM ( HR and Admin)
Name :	Mr. K.D. Tamhankar
Designation :	GM (International Marketing)
Name :	Mr. Vijay Kumar
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.06.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	21068466	27.28
Bodies Corporate	17080000	22.11
Sub Total	38148466	49.39
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	38148466	49.39
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	90000	0.12
Financial Institutions / Banks	188459	0.24
Foreign Institutional Investors	574225	0.74
Sub Total	852684	1.10
(2) Non-Institutions
Bodies Corporate	14958460	19.37
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	15473401	20.03
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	6017827	7.79
Any Others (Specify)	1786600	2.31
Non Resident Indians	593650	0.77
Clearing Members	1080840	1.40
Trusts	600	0.00
Others	111510	0.14
Sub Total	38236288	49.50
Total Public shareholding (B)	39088972	50.61
Total (A)+(B)	77237438	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	77237438	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in manufacturing wide variety of cables including low tension (LT), high tension (HT) and extra high voltage (EHV) power cables ranging from 66 kV/110 kV/132 kV/220 kV, control and instrumentation cables, rubber cables, winding wires and stainless steel wires. The company also has presence in engineering procurement and construction (EPC) and turn-key solutions segment for infrastructure projects.
Products :	Low tension (LT) High tension (HT) Extra high voltage (EHV) Power cables
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS - NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

3000 (Approximately)

Bankers :

· Dena Bank

· Punjab National Bank

· ING Vysya Bank Limited

· State Bank of Hyderabad

· Yes Bank Limited

· Standard Chartered Bank

· ICICI Bank Limited

· HSBC Bank Limited

· HDFC Bank Limited

· State Bank of Patiala

· IndusInd Bank Limited

· State Bank of Bikaner and Jaipur

· Indian Overseas Bank

· Corporation Bank

· Lakshmi Vilas Bank

Facilities :

SECURED LOAN

Particulars	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
Long-Term Borrowings:
Term Loans
From Banks	NA	860.238
Foreign Currency Loans from Banks	NA	263.770
Finance Lease Obligations	NA	6.105
Short Term Borrowings:
Working Capital Loans from Banks	NA	3250.688
Total	NA	4380.801

Note :

Long-Term Borrowings:

Nature of Security:

Term Loans from Banks are Secured by a first pari passu charge over Land & Building, Plant & Machinery and other movable fixed assets located at the Company's Plants at Plot No. A-280-284, Chopanki, SP-919, Bhiwadi and 99/2/7, Madhuban Industrial Estate, Silvassa. Further, they are secured by personal guarantee of Mr. Anil Gupta, Chairman-cum-Managing Director of the Company.

Finance Lease Obligations are secured against leased assets.

Short Term Borrowings:

Working Capital facilities from banks are secured by 1st pari-passu charge by way of hypothecation on the entire current assets including raw material, stock in process, finished goods, consumable stores & spares and receivables of the Company, 1st pari-passu charge on present and future fixed assets at SP-920 & SP-922, RIICO Industrial Area Phase III, Bhiwadi, Distt. Alwar (Rajasthan) and movable fixed assets at D-90, Okhla Industrial Area, Phase I , New Delhi , 2nd pari-passu charge by equitable mortgage of property of the Land and Building at 99/2/7, Madhuban Industrial Estate, Village Rakholi, Silvassa (D & N H), Plot No. A 280-284, Chopanki and SP-919, RIICO Industrial Area Phase III, Bhiwadi, Distt. Alwar (Rajasthan) both present and future. Further, they are secured by personal guarantee of Mr. Anil Gupta, Chairman-cum-Managing Director of the Company.

Auditors :
Name :	Jagdish Chand and Company Chartered Accountants
Address :	New Delhi, India
Memberships :	--
Collaborators :	--
Associates :	KEI International Limited
Other Related Parties :	· Projection Financial and Management Consultants Private Limited · Shubh Laxmi Motels and Inns Private Limited · Soubhagya Agency Private Limited · Dhan Versha Agency Private Limited · KEI Cables Private Limited · KEI Power Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs. 154.470 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
110000000	Equity Shares	Rs.02/- each	Rs. 220.000 Million
300000	Preference Shares	Rs.100/- each	Rs. 30.000 Million
	TOTAL		Rs. 250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
73737438	Equity Shares	Rs.02/- each	Rs. 147.475 Million

1. Rights, preferences and restrictions attached to shares:

Equity Shares: The company has issued one class of equity shares having par value of Rs. 2 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

2. Reconciliation of the Number of Equity Shares:

(Rs. in Million)

Particulars	As at 31st March, 2014		As at 31st March, 2013
	Nos.	Amount	Nos.	Amount
Balance as at the beginning of the year	70237438	140.475	66937438	133.875
Add: Issued during the Year	3500000	7.000	3300000	6.600
Balance as at the end of the year	73737438	147.475	70237438	140.475

Additions of 35,00,000 (Previous Year 33,00,000) equity shares were issued on preferential basis to following

parties as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 at a price of Rs. 14 per

share (including securities premium of Rs. 12/-).

Name of Shareholder	Year Ended 31st March, 2014	Year Ended 31st March, 2013
	Nos.	Nos.
Mr. Anil Gupta	000	1400000
M/s Projection Financial and Management Consultants Private Limited	3500000	900000
M/s Dhan Versha Agency Private Limited	000	1000000
	3500000	3300000

3. List of Equity Shareholders holding more than 5% of the aggregate Equity Shares:

Name of Shareholders	As at 31st March, 2014		As at 31st March, 2013
	Nos.	%age	Nos.	%age
Mr. Anil Gupta	15580776	21.13%	15580776	22.18%
M/s Anil Gupta HUF beneficiary
Mr. Anil Gupta	4650375	6.31%	4650375	6.62%
M/s Projection Financial and
Management Consultants Private Limited	4400000	5.97%	900000	1.28%

During the year the Company has allotted 35,00,000 (thirty five lacs) Share Warrants on preferential basis to

Promoter / Promoter Group. The Warrant Holder has option of subscribing one equity share of face value of

Rs. 2/- each per Warrant at a price of Rs. 14/- per equity share any time up to 10.01.2015. Amount received from

Warrant holders as on March 31, 2014 is Rs. 44.250 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	154.470	147.475	140.475
(b) Reserves & Surplus	2884.030	2539.106	2415.222
(c) Money received against share warrants	0.000	44.250	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	3038.500	2730.831	2555.697
(3) Non-Current Liabilities
(a) long-term borrowings	1208.950	1165.563	1034.437
(b) Deferred tax liabilities (Net)	235.360	160.347	105.638
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	31.970	23.462	21.392
Total Non-current Liabilities (3)	1476.280	1349.372	1161.467
(4) Current Liabilities
(a) Short term borrowings	2549.200	3269.523	2860.261
(b) Trade payables	4809.920	3872.383	3947.807
(c) Other current liabilities	1453.460	1166.546	1200.496
(d) Short-term provisions	90.010	46.507	45.790
Total Current Liabilities (4)	8902.590	8354.959	8054.354
TOTAL	13417.370	12435.162	11771.518
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3024.720	3133.009	3082.580
(ii) Intangible Assets	0.000	7.756	6.124
(iii) Capital work-in-progress	0.000	2.394	25.976
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	31.360	30.917	30.817
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	48.590	33.988	52.734
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3104.670	3208.064	3198.231
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4403.170	4031.395	3581.551
(c) Trade receivables	4798.410	4286.251	4212.183
(d) Cash and cash equivalents	46.870	45.569	156.221
(e) Short-term loans and advances	665.050	605.456	455.049
(f) Other current assets	399.200	258.427	168.283
Total Current Assets	10312.700	9227.098	8573.287
TOTAL	13417.370	12435.162	11771.518

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	20309.520	16189.093	16583.525
	Other Income	23.830	12.771	23.550
	TOTAL	20333.350	16201.864	16607.075
Less	EXPENSES
	Cost of Materials Consumed	15133.320	12482.097	12461.276
	Purchases of Stock-in-Trade	30.960	17.948	59.680
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(394.730)	(419.485)	(433.901)
	Employees benefits expense	620.650	515.855	461.441
	Exceptional items	(26.090)	0.000	0.000
	Other expenses	2990.610	2062.244	2329.833
	TOTAL	18354.720	14658.659	14878.329
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1978.630	1543.205	1728.746
Less	FINANCIAL EXPENSES	1203.980	1115.306	1093.537
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	774.650	427.899	635.209
Less/ Add	DEPRECIATION/ AMORTISATION	245.850	209.735	204.448
	PROFIT/ (LOSS) BEFORE TAX	528.800	218.164	430.761
Less	TAX	186.300	102.156	167.391
	PROFIT/ (LOSS) AFTER TAX	342.500	116.008	263.370
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	1841.307	1725.299	1478.363
Less	APPROPRIATIONS
	Proposed Dividend on Equity Shares (Dividend of Rs.0.20 per equity share)	NA	15.448	14.047
	Dividend Distribution Tax on Proposed Dividend	NA	2.625	2.387
	BALANCE CARRIED TO THE B/S	NA	1841.307	1725.299
	EARNINGS IN FOREIGN CURRENCY
	Sales (Exports)	NA	1975.346	972.181
	TOTAL EARNINGS	NA	1975.346	972.181
	IMPORTS
	Raw Materials purchases	NA	946.361	350.577
	Packing Materials	NA	17.589	14.235
	Project Materials	NA	4.358	0.000
	Traded Goods	NA	1.180	0.000
	Stores, Spares & Consumables	NA	4.735	1.713
	Capital Goods	NA	34.369	11.333
	TOTAL IMPORTS	NA	1008.592	366.525
	Earnings / (Loss) Per Share (Rs.)	4.46	1.59	3.84

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt
From Banks	NA	482.500	558.339
Foreign Currency Loans from Banks	NA	186.358	279.409
Total	NA	668.858	837.748
Cash generated from operations	NA	889.347	1582.994
Net Cash from operating activities	NA	834.753	1492.620

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	1.69	0.72	1.59
Operating Profit Margin (PBIDT/Sales)	(%)	9.74	9.53	10.42
Return on Total Assets (PBT/Total Assets}	(%)	3.95	1.76	3.68
Return on Investment (ROI) (PBT/Networth)		0.17	0.08	0.17
Debt Equity Ratio (Total Debt /Networth)		1.24	1.62	1.52
Current Ratio (Current Asset/Current Liability)		1.16	1.10	1.06

STOCK PRICES

Face Value	Rs.2.00/-
Market Value	Rs.115.70/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	140.475	147.475	154.470
Reserves & Surplus	2415.222	2539.106	2884.030
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2555.697	2686.581	3038.500
long-term borrowings	1034.437	1165.563	1208.950
Short term borrowings	2860.261	3269.523	2549.200
Total borrowings	3894.698	4435.086	3758.150
Debt/Equity ratio	1.524	1.651	1.237

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	16583.525	16189.093	20309.520
		(2.378)	25.452

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	16583.525	16189.093	20309.520
Profit	263.370	116.008	342.500
	1.59%	0.72%	1.69%

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	No
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	No
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	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
Long-Term Borrowings:
Loans and Advances from Related parties
Deposits from Related Parties	NA	7.350
Deposits from Others
Public Deposits	NA	28.100
Short Term Borrowings:
Commercial Paper Issued to Bank	NA	0.000
Loans and Advances from Related Parties
Deposits	NA	0.650
Inter Corporate Deposits	NA	6.300
Deposits from Others
Inter Corporate Deposits	NA	5.500
Public Deposits	NA	6.385
Total	NA	54.285

CONTINGENT LIABILITIES

PARTICULARS	31.03.2015 (Rs. In Million)	31.03.2014 (Rs. In Million)
Claims Against the Company not acknowledged as Debt	NA	0.018
Guarantees
a) Financial Bank Guarantees outstanding	NA	817.311
Other money for which company is contingently liable
a) Unutilised Letter of Credits	NA	174.783
b) Outstanding Bills discounted	NA	375.288
c) Prorata share of company in channel finance given by banks to others	NA	297.735
d) Sales Tax/ Entry Tax demands under appeal	NA	30.685
e) Income tax Matters:
– Demand Under Appeal	NA	0.495
– Appellate decision in favour of company but department has filed against decision of appellate authorities	NA	8.654
f) Excise / Service tax demands under appeal	NA	88.508
g) Labour Cess Demands under Appeal	NA	10.431

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10565163	20/04/2015	2,800,000,000.00	DENA BANK	35-36 AGGARWAL BHAWAN,, NEHRU PLACE, DELHI, DELHI  - 110019, INDIA	C51557270
2	10560004	12/03/2015	1,500,000,000.00	GDA TRUSTEESHIP LIMITED	GDA HOUSE, PLOT NO.- 85, BHUSARI COLONY (RIGHT),,  PAUD ROAD,,, PUNE, MAHARASHTRA - 411038, INDIA	C49441025
3	10553268	31/01/2015	150,000,000.00	IDBI BANK LIMITED	VIDECON TOWER, 1ST FLOOR,, E-1, JHANDEWALAN EXTEN  SION, NEW DELHI, DELHI - 110055, INDIA	C45711819
4	10538862	30/12/2014 *	150,000,000.00	IDBI BANK LIMITED	INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS R  OAD, POST BAG NO. 231, DELHI, DELHI - 110001, INDI  A	C38401329
5	10532975	13/11/2014	250,000,000.00	STATE BANK OF BIKANER AND JAIPUR	SCB BRANCH, 101-102, NEW DELHI HOUSE, BARAKHAMBA  ROAD,, NEW DELHI, DELHI - 110001, INDIA	C34695908
6	10526147	24/09/2014	100,000,000.00	LAKSHMI VILASBANK LIMITED	FLAT NO: GF-8-9-10; TOLSTOY HOUSE, 15-17,, TOLSTO  Y MARG, JANPATH, NEW DELHI, DELHI - 110001, INDIA	C29867322
7	10429320	27/05/2013	250,000,000.00	STATE BANK OF BIKANER AND JAIPUR	SCB BRANCH, 101-102, NEW DELHI HOUSE, BARAKHAMBA  ROAD,, NEW DELHI, DELHI - 110001, INDIA	B76399690
8	10401944	15/02/2013 *	145,000,000.00	IDBI BANK LIMITED	INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS R  OAD,POST BAG NO.231, DELHI, DELHI - 110001, INDIA	B71572358
9	10376461	13/03/2014 *	100,000,000.00	DCB BANK LIMITED	A-SET HOUSE, 3RD FLOOR, 7/56,, DESH BANDHU GUPTA  ROAD, KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA	C01237825
10	10323314	15/02/2013 *	543,000,000.00	PUNJAB NATIONAL BANK	UNIT 1003, 10TH FLOOR,, LI PO CHUN CHAMBERS 189,  DES VOEX ROAD, CENTRAL HONGKONG, - 00000, HONG KO  NG	B72609837

* Date of charge modification

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2015

Sr. No.	Particulars			Rs in Million
					Quarter Ended
					30.06.2015
					Unaudited
1	(a) Net Sales/Income from Operations				5145.460
	(b)Other Operating Income				38.460
	Total Income From Operations (Net)				5183.920
2	Expenditure
	(a)		Cost of Materials Consumed		3985.480
	(b)		Purchases of Stock-in-Trade		1.350
	(c)		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		(448.640)
	(d)		Employees benefits expense		183.100
	(e)		Depreciation and amortization expense		60.390
	(f )		Other expenses		915.410
			TOTAL (B)		4697.090
3	Profit from operation before other income, interest and other exceptional items(1-2)				486.830
4	Other Income				12.840
5	profit before interest and exceptional items(3+4)				499.670
6	Interest				331.440
7	Profit after interest but before exceptional items(5-6)				168.230
8	Exceptional Items				--
9	Profit(+)/Loss(-) from Ordinary Activities before tax (7-8)				168.230
10	Tax Expenses				51.190
11	Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10)				117.040
12	Extra Ordinary Items				--
13	Net Profit(+)/Loss(-) for the period (11-12)				117.040
14	Paid-up Equity Share Capital Rs.2/ per share				154.470
15	Reserves excluding revaluation reserves
16		Earning Per Share
(a)		Basic and diluted EPS before Extraordinary items for the period, for the year to date and for the previous year(not to be annualised)			1.52
(b)		Basic and diluted EPS after Extraordinary items for the period, for the year to date and for the previous year(not to be annualised)			1.52
17		Public Shareholding
		Number of Shares			39088972
		Percentage of Shareholding			50.61
18		Promoters and Promoter group
		a) Pledged/Encumbered
		Number of shares			Nil
		Percentage of Shares (as a % of the total shareholding of promoter and promoter group)			Nil
		Percentage of Shares (as a % of the total share capital of the Company)			Nil
		b) Non-encumbered
		Number of shares			38148466
		Percentage of Shares (as a % of the total shareholding of promoter and promoter group)			100.00
		Percentage of Shares (as a % of the total share capital of the Company)			49.39

Particulars	3 months ended 30.06.2015
INVESTOR COMPLAINTS
Pending at the beginning of the quarter	NIL
Received during the quarter	10
Disposed of during the quarter	9
Remaining unresolved at the end of the quarter	1

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

	PARTICULARS	Quarter ended
		30.06.2015
		Unaudited
1.	Segment revenue – cables	4326.930
	Segment – stainless steel wire	245.350
	Segment – tumkey products	971.490
	Unallocated Segment	(2.520)
	Total	5541.250
	Less : inter segment elimination	14.850
	Total	5526.400
	Less : inter segment revenue	331.660
	Net sales / income from operations	5194.740
2.	Segment results (Profit) (+) / loss (-) before tax and interest from segment
	Segment revenue – cables	579.570
	Segment – stainless steel wire	6.700
	Segment – tumkey products	103.700
	Total	689.970
	Less : inter segment results	14.850
	Net segment results	675.120
	Less : i) interest	331.440
	ii) other un – allocable expenditure net off un – allocable income	175.450
	Total profit before tax	168.230
3.	Capital employed (segment assets – segment liabilities)
	Segment revenue – cables	7210.810
	Segment – stainless steel wire	230.670
	Segment – tumkey products	641.870
	Unallocated Segment	(3161.740)
	Total	4921.610

Notes:

1. The above Financial Results reviewed by the Audit Committee, have been approved and taken on record by the Board of Directors at their meeting held on 06.08.2015.

2. The Statutory Auditors of the company have carried out Limited Review of Financial Results for the quarter and nine months ended June 30, 2015 pursuant to Clause 41 of the Listing Agreement.

3. The Financial figures of last quarter i.e. quarter ended March 31, 2015 are the balancing figures between audited figures in respect of the financial year ended on March 31, 2015 and the published year to date figures upto the third quarter i.e. December 31, 2014.

4. Tax expense includes Deferred tax of Rs. 15.000 Million on estimated basis respectively.

5. Previous year / periods figures have been regrouped / reclassified, wherever necessary.

FIXED ASSETS:

Tangible Assets

• Land Free Hold
• Land Lease Hold

• Building
• Plant and Equipment
• Furniture and Fixtures
• Leasehold Building Improvement
• Vehicles
• Office Equipment
• Vehicles

Intangible Assets

• Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.25
UK Pound	1	Rs.102.25
Euro	1	Rs.72.19

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	KAR
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.