MIRA INFORM REPORT

Report No. :	338810
Report Date :	28.08.2015

IDENTIFICATION DETAILS

Name :	MALLADI DRUGS AND PHARMACEUTICALS LIMITED
Registered Office :	No. 9, GST Road, St. Thomas Mount, Chennai - 600016, Tamilnadu
Tel. No.:	91-44-39876900
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	21.08.1980
Com. Reg. No.:	18-008382
Capital Investment / Paid-up Capital :	Rs. 158.917 Million
CIN No.: [Company Identification No.]	U24230TN1980PLC008382
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CHEM00349G
PAN No.: [Permanent Account No.]	AAACM5031A
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacture, Exporter and Importer of Bulk Drugs and Pharma Ingredients.
No. of Employees :	700 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Malladi Drugs And Pharmaceuticals Limited was founded in 1980 and was promoted as a joint venture company along with Tami Nadu Industrial Development Corporation (TIDCO). It is well established company having satisfactory track record. The rating assigned to company take into account the improvement in operational and financial performance of the company during FY14 (refers to the period April 1 to March 31). Rating continue to derive strength, its established track record of operations, USFDA - approved and cGMP-certified manufacturing facilities. The rating constrained on concentrated product portfolio and working capital intensive nature of operations. Trade relations are fair. Business is active Payment terms are reported to be usually correct. The company can be considered good for normal business dealings at its 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	January, 2015

Rating Agency Name	CARE
Rating	Short term bank facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	January, 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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Kamala Kaalan
Designation :	Fiannce Manager
Contact No.:	91-44-39876900
Date :	26.08.2015

LOCATIONS

Registered Office :	No. 9, GST Road, St. Thomas Mount, Chennai - 600016, Tamilnadu, India.
Tel. No.:	91-44-39876900/ 22330910
Fax No.:	91-44-39876914/ 22330814
E-Mail :	marketing@malladiinc.com/ materials@malladiinc.com prashant@malladiinc.com sita@malladiinc.com vvr@malladiinc.com info@malladi.co.in
Website :	www.malladi.co.in
Location :	Owned
Locality :	Commercial
Factory :	· Plot No. 67, Sipcot Industiral Complex, Ranipet, Vellore District – 632403, Tamilnadu, India · · Plot Nos. 7B and 7C, Sipcot Industiral Complex, Ranipet, Vellore District – 632403, Tamilnadu, India · · Plot No. 6A, 7A, Sipcot Industiral Complex, Ranipet, Vellore District – 632403, Tamilnadu, India · · Plot Nos. 49, 50, 55 and 56, IDA Gajulamandyam, Attur P. O., Renigunta, Tirupati – 517520, Andhra Pradesh, India · · Tantech Agro Chemicals Limited, Sipcot Industrial Complex, Ranipet, Vellore District – 632403, Tamilnadu, India Also Located at : · Tirupati · Guddalore
Branch Office :	Located at : · 14, Raghavan Reddy Colony, Ashok Nagar, Chennai - 600083, Tamilnadu, India Tel No. : 91-44-24892056 · 137 B, Old Mahabalipuram Road, Chennai - 600096, Tamilnadu, India Tel. No. : 91-44-24960761 / 24960629 / 24960633 · 14, Dr. Natesan Salai, Ashok Nagar, Chennai - 600083, Tamilnadu, India Tel No. : 91-44-24890185

DIRECTORS

As on 30.09.2014

Name :

Mr. Prashant Malladi

Designation :

Managing Director

Address :

No.31, Navarathna Gardens, Ekkatuthangal, Chennai – 600097, Tamilnadu, India.

Date of Birth/Age :

20.05.1959

Qualification :

B. Com, (ICWA)

Date of Appointment :

03.09.1998

PAN No.:

AAEPM8052A

DIN No. :

00133341

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	Company/ LLP Status	Defaulting status
1	U24117TN1989PLC017845	MALLADI SPECIALITIES LIMITED	Director	20/09/1990	20/09/1990	Active	NO
2	U74999TN1979PTC007807	SAKA MARKETING SERVICES PRIVATE LIMITED	Director	07/12/1990	07/12/1990	Active	NO
3	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Managing director	03/09/2011	03/09/1998	Active	NO
4	L24121TN1989PLC018170	TANTECH AGRO CHEMICALS LIMITED	Director	14/05/2004	14/05/2004	Active	NO

Name :

Mrs. Shreya Sistla

Designation :

Whole Time Director

Address :

No.41, Navarathna Gardens, Ekkatuthangal, Chennai – 600097, Tamilnadu, India

Date of Birth/Age :

15.10.1962

Qualification :

B. Tech.

Date of Appointment :

01.10.2013

PAN No.:

AAMPS6655B

DIN No. :

00133354

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	Company/ LLP Status	Defaulting status
1	U24117TN1989PLC017845	MALLADI SPECIALITIES LIMITED	Director	14/09/1991	14/09/1991	Active	NO
2	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Whole-time director	01/10/2013	02/12/1998	Active	NO
3	U74999TN1979PTC007807	SAKA MARKETING SERVICES PRIVATE LIMITED	Director	26/12/1998	26/12/1998	Active	NO
4	L24121TN1989PLC018170	TANTECH AGRO CHEMICALS LIMITED	Director	14/05/2004	14/05/2004	Active	NO
5	U65921WB1987PTC145679	NAKODAR FINANCE PRIVATE LIMITED	Director	26/12/2013	26/12/2013	Active	NO
6	U74900TN2012PTC087756	GURUSWARA MUSIC ACADEMY PRIVATE LIMITED	Additional director	01/01/2014	01/01/2014	Active	NO
7	U51909WB2009PTC132202	DAYALU VINCOM PRIVATE LIMITED.	Director	03/01/2014	03/01/2014	Active	NO
8	U51101WB2009PTC132203	KESHAV TRADECOM PRIVATE LIMITED.	Director	03/01/2014	03/01/2014	Active	NO

Name :

Mr. Gopalakrishnan Narayanaswamy Venganellor

Designation :

Whole Time Director

Address :

B-2, Aditiyaa Malaviya Nagar, Thiruvanmiyur, Chennai – 600041, Tamilnadu, India

Date of Birth/Age :

05.08.1952

Qualification :

B.E., (Chemicals)

Date of Appointment :

12.05.2011

PAN No.:

ADTPG2274N

DIN No. :

00198785

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	U24117TN1989PLC017845	MALLADI SPECIALITIES LIMITED	Director	07/09/2006	29/09/1995	28/06/2010	Active	NO
2	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Whole-time director	12/05/2011	02/12/1998	-	Active	NO
3	U74999TN1979PTC007807	SAKA MARKETING SERVICES PRIVATE LIMITED	Director	26/12/1998	26/12/1998	-	Active	NO
4	L24121TN1989PLC018170	TANTECH AGRO CHEMICALS LIMITED	Director	14/05/2004	14/05/2004	-	Active	NO

Name :

Mr. Dilip Keshavlal Patel

Designation :

Director

Address :

D-70, 5th Floor, Bina Apartments, Sir M. V. Road, Andheri (East), Mumbai – 400069, Maharashtra, India

Qualification :

B.E.,(Chemicals)

Date of Birth/Age :

20.10.1947

Date of Appointment :

17.06.2003

DIN No. :

00013150

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	U24230TN1980PLC008382	MALLADI DRUGS AND PHARMACEUTICALS LIMITED	Director	17/06/2003	17/06/2003	-	Active	NO
2	L17120MH1987PLC042598	EUROTEX INDUSTRIES AND EXPORTS LIMITED	Director	29/07/2003	29/07/2003	-	Active	NO
3	U25209MH1973PTC016846	POLYSET PLASTICS PRIVATE LIMITED	Director	29/07/2005	29/07/2005	-	Active	NO
4	L24230AP1987PLC008016	GODAVARI DRUGS LIMITED	Director	27/09/2006	27/09/2006	-	Active	NO
5	U24240GJ2000PLC037850	CELESTIAL BIOLOGICALS LIMITED	Director	29/09/2008	07/12/2007	-	Amalgamated	NO
6	L74999MH1995PLC085878	SOLAR INDUSTRIES INDIA LIMITED	Director	24/09/2008	18/06/2008	-	Active	NO
7	U28910MH1981PLC024161	MINEX METALLURGICAL COMPANY LIMITED	Director	01/08/2008	01/08/2008	-	Active	NO
8	U45201MH2006PLC165973	RELCON INFRAPROJECTS LIMITED	Director	30/09/2010	27/08/2010	28/12/2012	Active	NO
9	L26100MH1998PLC117437	SEJAL GLASS LIMITED	Director	12/08/2011	12/08/2011	19/01/2012	Active	NO
10	U74900GJ2011PTC067582	INCUBE ADVISORS PRIVATE LIMITED	Director	29/09/2012	14/08/2012	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Kamala Kaalan
Designation :	Finance Department
Name :	Mr. R Krishnan
Designation :	Secretary
Date of Appointment :	25.06.2010
PAN No.:	AAOPK4452E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
M. Prabhavathi	92179
M. Prashant	3074493
S. Shreya	2698197
M. Parvathi	253630
Malladi Project Management Centre Private Limited, India	5093905
Saka Marketing Services Private Limited, India	3003199
TIIC Limited, India	770000
M. S. Pawan	154
V. N. Gopalakrishnan	53130
M. Parvathi and M. Prashant	279961
MDPL Employee Welfare Trust, India	774620
LOF Mauritius – LLC, Mauritius	850434
Nakodar Finance Private Limited, India	2626684
Onward Investment Advisory Private Limited, India	8641427
ABN Estate Housing Private Limited	1250000
Total	31783442

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	2.68
Bodies corporate	72.17
Other top fifty shareholders	2.43
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture, Exporter and Importer of Bulk Drugs and Pharma Ingredients.

Products :

Item Code No.	Product Description
98041000	Fine Chemicals

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Pharmaceuticals

Countries :

• Switzerland
• USA
• UK
• Korea

Imports :

Products :

Raw Material

Countries :

• China
• European Country
• Germany
• Netherlands

Terms :

Selling :

L/C, Cheque

Purchasing :

L/C, Cheque

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Clarion and Drugs
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 :	· GSK Company · Dr. Reddy
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 :

700 (Approximately)

Bankers :

· State Bank of India, Commercial Branch, 232, NSC Bose Road, Chennai - 600001, Tamilnadu, India

· State Bank of Travancore, Commercial Branch, 556, Anna Salai, Teynampet, Chennai - 600018, Tamil Nadu, India

· Corporation Bank, Kellys Corner Branch, No.12, Ormes Road, Kilpauk, Chennai - 600010, Tamilnadu, India

Bank Name	Union Bank of India
Branch	Ashok Nagar Branch, Plot No.1209, 1st Avenue, Ashok Nagar, Chennai -600083, Tamilnadu, 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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from banks	302.770	143.392
SHORT TERM BORROWING
Rupee term loan from other	644.567	727.954
Total	947.337	871.346

Auditors :
Name :	Sripada Associates Chartered Accountants
Address :	New No.3/82, (Old No. 10/7), Valluvar Salai, Ramapuram, Chennai 600089, Tamilnadu, India
PAN N Income-tax PAN of auditor or auditor's firm :	AATFS9395P
Memberships :	--
Collaborators :	--
Subsidiaries :	· Tantech Agro Chemicals Limited, India CIN No.: L24121TN1989PLC018170 · Novus Fine Chemicals L.L.C L.L.C, United State
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Malladi Project Management Centre Private Limited, India CIN No.: U74140TN1980PTC008360 · Saka Marketing Services Private Limited, India CIN No.: U74999TN1979PTC007807 · Malladi Specialities Limited, India CIN No.: U24117TN1989PLC017845 Sreeprabha Franchise – Association of Persons, India · Marine and Agro Products Private Limited, India CIN No.: U29309TN1992PTC022525 · ABN Estates Housing Private Limited, India CIN No.: U70102TN2007PTC062672

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.5/- each	Rs. 200.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
31783442	Equity Shares	Rs.5/- each	Rs. 158.917 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	158.917	141.060	141.060
(b) Reserves & Surplus	915.485	751.272	691.427
(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)	1074.402	892.332	832.487
(3) Non-Current Liabilities
(a) long-term borrowings	380.248	178.936	277.212
(b) Deferred tax liabilities (Net)	161.427	116.213	108.109
(c) Other long term liabilities	20.871	11.502	6.841
(d) long-term provisions	34.592	26.623	23.924
Total Non-current Liabilities (3)	597.138	333.274	416.086
(4) Current Liabilities
(a) Short term borrowings	644.567	727.954	677.757
(b) Trade payables	491.393	554.496	522.142
(c) Other current liabilities	196.186	246.798	127.714
(d) Short-term provisions	24.537	21.522	26.717
Total Current Liabilities (4)	1356.683	1550.770	1354.330
TOTAL	3028.223	2776.376	2602.903
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	977.380	851.611	878.662
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	447.450	3.201	21.887
(b) Non-current Investments	12.128	390.846	900.549
(c) Deferred tax assets (net)	0.000	0.000	390.836
(d) Long-term Loan and Advances	210.516	217.909	180.658
(e) Other Non-current assets	15.654	50.959	40.214
Total Non-Current Assets	1663.128	1514.526	2412.806
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	737.262	561.963	560.269
(c) Trade receivables	358.940	505.102	384.309
(d) Cash and cash equivalents	68.349	75.176	38.987
(e) Short-term loans and advances	129.994	48.949	51.192
(f) Other current assets	70.550	70.660	55.889
Total Current Assets	1365.095	1261.850	1090.646
TOTAL	3028.223	2776.376	2602.903

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from Operations	2337.265	2121.828	1814.602
	Other Income	120.463	50.759	62.765
	TOTAL	2457.728	2172.587	1877.367
Less	EXPENSES
	Cost of Materials Consumed	1228.055	1015.695	919.403
	Purchases of Stock-in-Trade	38.907	38.488	44.990
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(203.378)	64.636	3.657
	Employees benefits expense	210.896	176.194	171.612
	Other expenses	688.610	537.315	575.832
	Exceptional Items	56.032	0.000	352.416
	Expenditure on production, transportation	52.115	44.550	0.000
	TOTAL	2071.237	1876.878	2067.910
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	386.491	295.709	(190.543)
Less	FINANCIAL EXPENSES	163.169	143.966	155.298
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	223.322	151.743	(345.841)
Less/ Add	DEPRECIATION/ AMORTISATION	85.532	81.309	75.283
	PROFIT/ (LOSS) BEFORE TAX	137.790	70.434	(421.124)
Less	TAX	55.720	10.588	(4.270)
	PROFIT/ (LOSS) AFTER TAX	82.070	59.846	(416.854)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(248.220)	(308.070)	108.790
	Balance Carried to the B/S	(166.153)	(248.220)	(308.070)
	Earnings / (Loss) Per Share (Rs.)	0.51	0.37	(2.6)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	52.065	89.400	83.100
Cash generated from operations	N.A	N.A	N.A
Net cash flow from operating activity	205.160	258.648	424.273

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	3.51	2.82	(22.97)
Operating Profit Margin (PBIDT/Sales)	(%)	16.54	13.94	(10.50)
Return on Total Assets (PBT/Total Assets}	(%)	5.36	2.96	(19.23)
Return on Investment (ROI) (PBT/Networth)		0.13	0.08	(0.51)
Debt Equity Ratio (Total Debt /Networth)		1.00	1.12	1.25
Current Ratio (Current Asset/Current Liability)		1.01	0.81	0.81

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	141.060	141.060	158.917
Reserves & Surplus	691.427	751.272	915.485
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	832.487	892.332	1074.402
long-term borrowings	277.212	178.936	380.248
Short term borrowings	677.757	727.954	644.567
Current maturities of long-term debts	83.100	89.400	52.065
Total borrowings	1038.069	996.290	1076.880
Debt/Equity ratio	1.247	1.117	1.002

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1814.602	2121.828	2337.265
		16.931	10.153

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1814.602	2121.828	2337.265
Profit	(416.854)	59.846	82.070
	(22.97%)	2.82%	3.51%

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	Yes
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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from 52 Jawaharlal Nehru Salai, Ekkttuthangal, Chennai - 6000097, Attuthangal, Tamilnadu, India to the present address w.e.f. 09.10.2008

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from banks	77.478	35.544
Total	77.478	35.544

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10586088	29/07/2015	205,000,000.00	RBL Bank Limited	SHAHUPURI,KOLHAPUR,, KOLHAPUR, Maharashtra - 41600  1, INDIA	C61752481
2	10551406	31/01/2015	1,331,264.00	KOTAK MAHINDRA PRIME LIMITED	27BKC, C 27, G Block, Bandra Kurla Complex, Bandr  a (E),, Mumbai, Maharashtra - 400051, INDIA	C44720522
3	10531263	05/11/2014	45,000,000.00	State Bank of Travancore	Commercial Branch, 556, Anna Salai, Teynampet, Ch  ennai, Tamil Nadu - 600018, INDIA	C33594482
4	10517573	06/08/2014	916,000.00	UNION BANK OF INDIA	ASHOK NAGAR BRANCH, PLOT NO.1209, 1st AVENUE, ASH  OK NAGAR, CHENNAI, Tamil Nadu - 600083, INDIA	C18889493
5	10506174	17/06/2014	3,474,450.00	ELECTRONICA FINANCE LIMITED	128/A, Plot No.3,Kailashchandra Appartments,, Pau  d Road, Kothrud, Pune, Maharashtra - 411038, INDIA	C09373689
6	10496629	20/05/2014	1,340,000.00	UNION BANK OF INDIA	ASHOK NAGAR BRANCH, PLOT NO.1209, 1st AVENUE, ASH  OK NAGAR, CHENNAI, Tamil Nadu - 600083, INDIA	C05129655
7	10483763	24/02/2014	250,000,000.00	UNION BANK OF INDIA	Ashok Nagar Branch, Plot No.1209, 1st Avenue, Ash  ok Nagar, Chennai, Tamil Nadu - 600083, INDIA	C00018119
8	10475087	22/01/2014	3,683,021.00	ELECTRONICA FINANCE LIMITED	128/A, Plot No.3,Kailashchandra Appartments,, Pau  d Road, Kothrud, Pune, Maharashtra - 411038, INDIA	B95293486
9	10475636	22/01/2014	3,374,393.00	ELECTRONICA FINANCE LIMITED	128/A, Plot No.3,Kailashchandra Appartments,, Pau  d Road, Kothrud, Pune, Maharashtra - 411038, INDIA	B95515052
10	10443118	23/07/2013	713,300.00	UNION BANK OF INDIA	Ashok Nagar Branch, Plot No.1209, 1st Avenue, Ash  ok Nagar, Chennai, Tamil Nadu - 600083, INDIA	B82176876

FIXED ASSETS

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Other Equipments

· Leasehold Improvements

· Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.06
UK Pound	1	Rs.102.34
Euro	1	Rs.74.96

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KSH
Report Prepared by :	RKI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	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		50

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.