MIRA INFORM REPORT

Report No. :	352267
Report Date :	02.12.2015

IDENTIFICATION DETAILS

Name :	BALAJI AMINES LIMITED

Registered Office :	"Balaji Tower", No. 9/1A/1, Hotgi Road, Asara Chowk, Solapur - 413224, Maharashtra
Tel no. :	91-217-2451500

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	27.10.1988

Com. Reg. No.:	11-049387

Capital Investment / Paid-up Capital :	Rs. 64.800 Million

CIN No.: [Company Identification No.]	L24132MH1988PLC049387

IEC No.:	0390004294

TAN No.: [Tax Deduction and Collection Account No.]	PNEB02668B

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges.

Line of Business :	Subject is engaged in manufacturing of Speciality Chemicals and Amines. (Registered Activity)

No. of Employees :	500 (approximately)

RATING and COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 6800000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. It was established in the year 1988. Company specialized in manufacturing Methylamines, Ethylamine’s Derivatives of specialty Chemicals and Natural Products. Rating takes into consideration on company’s healthy financial profile marked by healthy decent net worth, good profitability and strong liquidity position of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In the view of extensive experience of promoters and established relationship with the customers, the subject can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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	FITCH
Rating	Long Term Rating = A-
Rating Explanation	Having low risk of default risk. It capacity for payment of financial commitments is considered strong
Date	13.02.2014

Rating Agency Name	FITCH
Rating	A2+ [Short Term Bank Facilities]
Rating Explanation	Strong degree of safety and low credit risk.
Date	13.02.2014

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 31-03-2015.

INFORMATION PARTED BY

Name :	Ms. Arati Dudhawale
Designation :	Finance Controller
Contact No.:	91-217-2451500
Date :	03.06.2015

LOCATIONS

Registered Office / Hotel Division:	"Balaji Tower", No. 9/1A/1, Hotgi Road, Asara Chowk, Solapur - 413224, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@balajiamines.com cs@balajiamines.com
Website :	http://balajiamines.com

Administrative Office :	3rd Floor, KPR House, Sardar Patel Road, Secunderabad - 500 003, Telangana, India
Tel. No.:	91-40-27898206/ 2071
Fax No. :	91-40-27816171
E-Mail :	infohyd@balajiamines.com unit2mktg@balajiamines.com

Factory 1 :	Tamalwadi Village, Tuljapur (TQ), District Osmanabad - 413 623, Maharashtra, India

Factory 2 :	Plot No. 4 and 5, Beside Sub Station 2, IDA, Bollaram, Medak District - 502325, Telangana, India

Factory 3 :	Plot No. E-7 and 8 MIDC, Chincholi, Solapur - 413255, Maharashtra, India

Hotel division :	Balaji Sarovar Premiere: Survey No.9/1A/1, Aasara Chowk, Hotgi Road, Solapur - 413 224. Maharashtra, India

DIRECTORS

As on: 31.03.2014

Name :

Mr. A. Prathap Reddy

Designation :

Chairman and Managing Director

Address :

8-3-224/B/5, Yousufguda, Hyderabad - 500045, Andhra Pradesh, India

Qualification :

Civil Engineer

Date of Appointment :

01.04.2013

DIN No.:

00003967

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	U24110TG1988PLC009027	BHAGYANAGAR CHEMICALS LIMITED	Director	09/09/1988	09/09/1988	-	Active	NO
2	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Managing director	01/04/2013	06/11/1988	-	Active	NO
3	U65993TG1995PTC019123	APR HOLDINGS AND INVESTMENTS PRIVATE LIMITED	Director	03/01/1995	03/01/1995	-	Active	NO
4	U24230AP2005PLC045891	BALAJI GREENTECH PRODUCTS LIMITED	Director	30/10/2008	15/04/2005	-	Active	NO
5	U51434PN2006PTC128357	BALAJI SOURCINGS PRIVATE LIMITED	Director	20/04/2006	20/04/2006	15/03/2008	Active	NO

Name :

Mr. N. Rajeshwar Reddy

Designation :

Joint Managing Director

Address :

Plot No. 41/A, Behind Kinara Hotel, Hotgi Road, Solapur - 413003, Maharashtra, India

Qualification :

Commerce Graduate

Experience :

30 years

He started his career as a Manager in Bharat Cement Pipe Industries, in 1976 and in 1982 founded Bhagyanagar Potteries and managed the unit till 1985. In 1985, he joined Balaji Cement Products (Pvt.) Ltd as Executive director and successfully implemented the project, before joining Balaji Amines Ltd as Director in 1988. He is responsible for the day to day operations at the plants in Solapur. He has been instrumental in executing the projects in time with lowest cost of investments well within time schedules. He is also responsible for perfecting the processes of various products to achieve optimization of cost of utilities etc.

Date of Appointment :

01.04.2013

DIN No.:

00003854

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	U45400MH1985PTC037464	BALAJI GREENFIELD TECHNO VENTURES PRIVATE LIMITED	Director	11/09/1985	11/09/1985	-	Active	NO
2	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Whole-time director	01/04/2013	16/11/1988	-	Active	NO
3	U51503MH1994PTC082790	THIRUMALA PRECICASTS PRIVATE LIMITED	Managing director	10/11/1994	10/11/1994	-	Active	NO
4	U24230AP2005PLC045891	BALAJI GREENTECH PRODUCTS LIMITED	Director	15/04/2005	15/04/2005	28/03/2008	Active	NO
5	U51434PN2006PTC128357	BALAJI SOURCINGS PRIVATE LIMITED	Director	20/04/2006	20/04/2006	15/03/2008	Active	NO
6	U24117PN2011PTC141818	BALAJI SPECIALITY FINE CHEM PRODUCTS PRIVATE LIMITED	Director	30/12/2011	30/12/2011	-	Active	NO

Name :

Mr. D. Ram Reddy

Designation :

Joint Managing Director

Address :

1/A Gangadhar Housing Society, Hotgi Road, Solapur - 413003, Maharashtra, India

Qualification :

graduate

Experience :

30 years

He joined Bharat Cement Pipe Industries, Hyderabad as Manager in 1980. In 1985, he promoted Balaji Cement Products Pvt Ltd and successfully managed the Company before joining Balaji Amines as Director in 1988. He is responsible for the procurement, marketing and logistics activities of the Company. He has played a key role in establishing customer and supplier's relationship with leading buyers and suppliers of speciality chemicals both within the country and also abroad. He was instrumental in achieving first of its kind large scale supply contract arrangement with world's leading company in speciality chemicals.

Date of Appointment :

01.04.2013

DIN No.:

00003864

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	U45400MH1985PTC037464	BALAJI GREENFIELD TECHNO VENTURES PRIVATE LIMITED	Managing director	11/09/1985	11/09/1985	-	Active	NO
2	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Whole-time director	01/04/2013	15/01/1989	-	Active	NO
3	U51503MH1994PTC082790	THIRUMALA PRECICASTS PRIVATE LIMITED	Whole-time director	10/11/1994	10/11/1994	-	Active	NO
4	U24230AP2005PLC045891	BALAJI GREENTECH PRODUCTS LIMITED	Director	15/04/2005	15/04/2005	28/03/2008	Active	NO
5	U51434PN2006PTC128357	BALAJI SOURCINGS PRIVATE LIMITED	Managing director	15/03/2008	20/04/2006	-	Active	NO
6	U74999TG2005PTC046416	SVS PRODUCTS PRIVATE LIMITED	Director	25/05/2006	25/05/2006	-	Active	NO
7	U34300PN2008PTC131462	BALAJI ACCU-PRECI PARTS PRIVATE LIMITED	Director	21/02/2008	21/02/2008	-	Active	NO
8	U85100PN2010PTC135282	LOKMANGAL HOSPITALS PRIVATE LIMITED	Director	07/01/2010	07/01/2010	15/04/2013	Strike off	NO
9	U24290PN2010PTC137138	SVS MEDICARE PRIVATE LIMITED	Director	29/09/2012	18/08/2010	-	Active	NO
10	U24299PN2010PTC137162	Balaji Benzochem Private Limited	Director	20/08/2010	20/08/2010	-	Active	NO
11	U24117PN2011PTC141818	BALAJI SPECIALITY FINE CHEM PRODUCTS PRIVATE LIMITED	Director	30/12/2011	30/12/2011	-	Active	NO
12	U15400TG2012PTC079358	SVS FOOD PROCESSORS PRIVATE LIMITED	Director	24/02/2012	24/02/2012	-	Active	NO

Name :

Mr. G. Hemanth Reddy

Designation :

Whole Time Director

Address :

401, Lotusgagan Vihar Apartments, Domalguda, Hyderabad - 500029, Andhra Pradesh, India

Qualification :

Post Graduate in Management with Finance and Marketing

Experience :

25 years

He has been instrumental in setting up of Bhagyanagar Woodplast Limited and successfully managed the IPO of Bhagyanagar Woodplast. He has implemented various projects globally such as water supply projects in Africa, Solar project in Africa and Rural electrification and Global Sourcing of material for various water supply projects in Africa. He joined Balaji Amines Limited as Whole Time Director responsible for finance, operations and administration of Unit-II of the Company.

Date of Appointment :

01.04.2013

DIN No.:

00003868

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	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Whole-time director	01/04/2013	28/07/2005	-	Active	NO
2	U24110TG1988PLC009027	BHAGYANAGAR CHEMICALS LIMITED	Director	01/08/2005	01/08/2005	-	Active	NO
3	U24230AP2005PLC045891	BALAJI GREENTECH PRODUCTS LIMITED	Managing director	01/04/2013	20/03/2008	-	Active	NO

Name :

Mr. Ande Srinivas Reddy

Designation :

Whole Time Director

Address :

8-3-224/B/5 Plot # 3, Yousufguda, Hyderabad, 500045, Andhra Pradesh, India

Date of birth:

10.05.1975

Qualification :

Post Graduate In Computer Science. Presently Completed Executive Management Programme At Indian School Of Business (Isb) Hyderabad.

Qualification and Experience :

He started his career in one of the largest management consulting firms in USA, Capgemini as a management consultant. And worked in various capacities in different countries. He has worked as project manager on multiple projects at large Fortune 100 US companies including Spr int, Goodyear, Agilent technologies Cummins Inc, etc. He has been on the board of Balaji Amines Limited since 11.5.2013

Date of Appointment :

30.09.2013

DIN No.:

03169721

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	U24299PN2010PTC137162	Balaji Benzochem Private Limited	Director	20/08/2010	20/08/2010	-	Active	NO
2	U72900TG2008PTC059709	ONEMEDSPACE (INDIA) PRIVATE LIMITED	Director	29/09/2012	30/04/2012	-	Active	NO
3	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Whole-time director	30/09/2013	11/05/2013	-	Active	NO

Name :

Mr. T. Naveena Chandra

Designation :

Independent Director

Address :

12-10-206, Seethafalmandi, Secunderabad - 500061, Andhra Pradesh, India

Qualification :

Bachelor's Degree in Commerce

Experience:

He has over 30 years of rich and varied experience in the fields of finance, taxation, projects, and capital markets.

Date of Appointment :

29.09.2014

DIN No.:

00231636

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	L74140TG1992PLC014483	SAAKETA CONSULTANTS LIMITED	Managing director	08/07/1992	08/07/1992	-	Active	NO
2	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Director	29/09/2014	24/06/1996	-	Active	NO
3	U67120TG1999PTC031303	CHJ SECURITIES PRIVATE LIMITED	Director	11/03/1999	11/03/1999	-	Active	NO
4	U67120TG2005PTC046929	SAAKETA FINSTOCK PRIVATE LIMITED	Director	20/07/2005	20/07/2005	-	Active	NO
5	U40109TG2008PTC062026	ZENITH ALTERNATIVE ENERGY VENTURES PRIVATE LIMITED	Director	25/08/2010	15/07/2010	-	Active	NO
6	U51219TG2003PTC042166	SAAKETA COMMODITIES PRIVATE LIMITED	Director	30/09/2014	18/11/2013	-	Active	NO

Name :	Mr. M. Amarender Reddy
Designation :	Independent Director
Address :	P.No. 77 Parkview Enclave, Hasmathpet Road, Bowenpally, Secunderabad - 500009, Andhra Pradesh, India
Qualification :	Graduate
Experience :	He started his career with State Bank of Hyderabad and worked in various capacities as Branch Manager, Chief Manager, Asst. General Manager and Dy. General Manager. He also worked with State bank of Mysore as Dy. General Manager before superannuation.
Date of Appointment :	29.09.2014
DIN No.:	05182741

Name :

Mr. C.S.N. Murthy

Designation :

Independent Director

Address :

H.No.D-13/D, Road No.1, Vikrampuri Colony, Secunderabad - 500009, Andhra Pradesh, India

Qualification :

Chemical Engineer

Experience :

He started his career with ICICI venture, and was a management consultant, entrepreneur and professional executive in different industries. He worked with pharma industry as chief operating officer of a generic pharma company, followed with stint at dr. Reddy's in the corporate development department. Since 2005, been the CEO of aurigene discovery technologies ltd.

Date of Appointment :

29.09.2014

DIN No.:

00142138

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	U24239KA2001PLC029391	AURIGENE DISCOVERY TECHNOLOGIES LIMITED	Whole-time director	16/08/2008	16/08/2005	02/05/2011	Active	NO
2	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Director	29/09/2014	30/01/2012	-	Active	NO
3	U24110TG1974PTC001694	GLAND CHEMICALS PVT LTD	Director	28/09/2012	06/07/2012	-	Active	NO

Name :

Mr. Kashinath R. Dhole

Designation :

Independent Director

Address :

224-17, Civil Lines, Gandhi Nagar, Solapur - 413001, Maharashtra, India

Qualification :

Masters In Science (Chemistry)

Experience :

He started his career as a Chemist in a MNC for 10 years manufacturing Brake Linings and Cloth Facings and became an Entrepreneur. Presently, he is the Managing Director of Kross International Private Limited, Solapur.

Date of Appointment :

29.09.2014

DIN No.:

01076675

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	U74999PN1991PTC064119	KROSS INTERNATIONAL P.LTD.	Managing director	25/11/1991	25/11/1991	-	Active	NO
2	U85100PN2010PTC135282	LOKMANGAL HOSPITALS PRIVATE LIMITED	Director	07/01/2010	07/01/2010	-	Strike off	NO
3	U85100PN2011PTC141268	AADHAAR LIFE SCIENCES PRIVATE LIMITED	Director	04/11/2011	04/11/2011	-	Active	NO
4	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Director	29/09/2014	11/05/2013	-	Active	NO
5	L24119PN1989PLC052562	SMRUTHI ORGANICS LTD	Director	27/09/2014	27/09/2014	-	Active	NO

Name :

Mrs. Vimala B. Madon

Designation :

Independent Director

Address :

B - 100, 2nd Main Road Afochs, Near Childrens Park, Sainikpuri, Tirumalagiri, Hyderabad - 500094, Andhra Pradesh, India

Qualification :

Post Graduate Holding M.A. In English And Diploma In French

Experience :

She started her banking career in the year 1971-72 as a probationary officer. She held various positions in different parts of the country including of Branch Manager of small, medium, and large branches. She has vast and rich experience of 40 years in Banking. She has retired as General Manager (Technology) at SBH and later State Bank of Travancore along with the

portfolio of MIS and Business Process Re-engineering at Bank's head offices in Hyderabad and Thiruvananthapuram till her retirement in the year 2008.

Date of Appointment :

29.09.2014

DIN No.:

06925101

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	L24132MH1988PLC049387	BALAJI AMINES LIMITED	Director	29/09/2014	28/07/2014	-	Active	NO
2	L24230TG1987PLC008016	GODAVARI DRUGS LIMITED	Director	27/03/2015	27/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Arati S Dudhawale
Designation :	Company Secretary
Address :	9/70, Shivaji Nagar, Modikhanna, Solapur - 413001, Maharashtra, India
PAN No.:	ANAPD4353N
Date of Appointment :	15.10.2011

AUDIT COMMITTEE:
Name :	Mr. T Naveena Chandra
Designation :	Chairman

Name :	Mr. M Amarender Reddy
Designation :	Member

Name :	Mr. CSN Murthy
Designation :	Member

Name :	Mr. S.V. Pattabhi Raman
Designation :	Membe

Research And Development Committee:

Name :	Mr. Prathap Reddy
Designation :	Chairman

Name :	Mr. N Rajeshwar Reddy
Designation :	Member

Name :	Mr. G Srinivas Reddy
Designation :	Member

Stake Holder’s Relationship Committee :

Name :	Mr. M Amarender Reddy
Designation :	Chairman

Name :	Mr. A. Prathap Reddy
Designation :	Member

Name :	Mr. G. Hemanth Reddy
Designation :	Member

Nomination and Remuneration Committee :

Name :	Mr. M. Amarender Reddy
Designation :	Chairman

Name :	Mr. T. Naveena Chandra
Designation :	Member

Name :	Mrs. Vimala B. Madon
Designation :	Member

Corporate Social Responsibility Committee :

Name :	Mr. Kashinath R. Dhole
Designation :	Chairman

Name :	Mr. N. Rajeshwar Reddy
Designation :	Member

Name :	Mr. D. Ram Reddy
Designation :	Member

SHAREHOLDING PATTERN

As on 30.09.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
		As a % of (A+B+C)
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	12851267	39.66
Bodies Corporate	4774720	14.74
Sub Total	17625987	54.40
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	17625987	54.40
(B) Public Shareholding
(1) Institutions
Financial Institutions / Banks	10320	0.03
Sub Total	10320	0.03
(2) Non-Institutions
Bodies Corporate	1282729	3.96
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	5791296	17.87
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	7253088	22.39
Any Others (Specify)	437580	1.35
Clearing Members	71464	0.22
Non Resident Indians	270623	0.84
Trusts	11502	0.04
Foreign Portfolio Investors	83991	0.26
Sub Total	14764693	45.57
Total Public shareholding (B)	14775013	45.60
Total (A)+(B)	32401000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	32401000	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing of Speciality Chemicals and Amines.

(Registered Activity)

Products :

Code of Products	Description of Products
20119	Manufacturing of Alaphatic Amines, their relatives and Specialty chemicals
55101	Running of 5 star Hotel Balaji Hotel Premiere

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products:

Finished Goods

Countries :

Japan
Germany
UK
Spain

Imports :

Products:

Raw Material

Countries :

China
Korea

Terms :

Selling :

Cash and Credit (30/60/90 Days)

Purchasing :

Cash and Credit (30/60/90 Days)

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

500 (Approximately)

Bankers :

State Bank of Hyderabad
HDFC Bank Limited
Bank of Baroda

Bank Name	State Bank of India
Branch	Solapur, Maharashtra, 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 31.03.2015	As on 31.03.2014
LONG TERM BORROWINGS
State Bank of Hyderabad	0.000	434.628
State Bank of India [Term Loans - secured by first charge on all fixed assets of the company, both present and future and mortgage by deposit of the land title deeds (except otherwise specifically excluded)]	0.000	138.000
Bank of Baroda [Rupee Term Loan]	201.169	261.086
[FCNR Term Loan - US Dollars]	98.525	0.000
HDFC Bank Limited
Rupee Term Loan	129.610	0.000
FCNR Term Loan - Euros	221.737	0.000

SHORT TERM BORROWINGS
State Bank of Hyderabad	704.040	718.560
State Bank of India	566.714	552.523
HDFC Bank	84.780	122.415
Bank of Baroda	0.000	1.102
Total	2006.575	2228.314

NOTE:

LONG TERM BORROWING:

During the year the term loans extended to the company by State Bank of India and State Bank of Hyderabad have been taken over by Bank of Baroda and HDFC Bank respectively. The charge creation in respect of these loans is yet to be registered with the Registrar of Companies. Further, the term loans extended earlier to the company by Bank of Baroda were secured by first charge on assets specifically financed viz., Windmill project at Satara and Hotel Project at Hotgi. As part of terms of takeover of loans of State Bank of India and State Bank of Hyderabad, the security extended to Bank of Baroda and HFDC Bank is pari-passu first charge on all the fixed assets of the company wherever located, both present and future, and by deposit of title deeds of lands belonging to the company. The modification of charge in respect of the above is also pending registration with the Registrar of Companies.

SHORT TERM BORROWING:

The borrowings towards working capital limits sanctioned by banks including Working Capital Demand Loans are secured by pari-passu first charge by way of hyphothecation of stocks and book debts and second charge on all fixed assets of the company, both present and future. The Directors of the company viz., Sri A. Prathap Reddy, Sri N. Rajeshwar Reddy, Sri D. Ram Reddy and Sri G. Hemanth Reddy have provided personal guarantees towards the fund based and non-fund based working capital limits availed by the company from the above lenders. The aggregate amount of such guarantees provided are as under :

Sr. No.	Name of the Bank	Aggregate amount of guarantee(Million)	Repayment terms
1.	State Bank of Hyderabad (Previous year 1610.000 Cr.)	Rs. 1970.000	On Demand
2.	State Bank of India (Previous year Rs. 940.000 Cr.)	Rs. 940.000	On Demand
3.	HDFC Bank Ltd. (Previous year Rs. 430.000 Cr.)	Rs. 500.000	On Demand
4.	Bank of Baroda (Previous year Nil )	Rs. 240.000	On Demand
	Total	Rs. 3650.000

The borrowing from Bank of Baroda – Rs.1.101 Million (Previous Year) represents overdraft availed for the purpose of hotel division against fixed deposit of Rs. 2.000 Million. The limits sanctioned by Bank of Baroda Rs. 240.000 Million have not been availed of as at 31-03-2015. As regards item No.3 above, HDFC Bank Ltd has sanctioned an amount of Rs. 650.000 Million. Documents executed only for Rs. 500.000 Million with the documentation for the balance Rs. 150.000 Million pending.

Auditors :
Statutory Auditors :	V. Sridhar and Company Chartered Accountants
Address :	No. 12-2-823/A/78, Geeta Apartments, Santoshnagar Colony, Mehdipatnam, Hyderabad – 500 028, Andhra Pradesh, India

Secretarial Auditor:
Name :	P. S. Rao and Associates
Address :	Flat No. 10, 4th Floor, # 6-3-347/22/2, Ishwarya Nilayam, Opposite Sai Baba Temple, Dwarakapuri Colony, Panjagutta, Hyderabad – 500082, Telangana, India

Cost Accountant:
Name :	N. V. S. Kapardhi
Address :	1-9-1113/17/B, Dayanand Nagar, Vidhyanagar, Hyderabad - 500 044, Telangana, India

Internal Auditors:
Name :	Aherkar and Company
Address:	Battin Complex, 35, Ganesh Peth, Solapur - 413 005, Maharashtra, India

Memberships :	Not Available

Collaborators :	Not Available

Subsidiary :	Not Available

CAPITAL STRUCTURE

As on: 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount

45000000	Equity Shares	Rs.2/- each	Rs.90.000 Millions

Issued, Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount

32401000	Equity Shares	Rs.2/- each	Rs.64.802 Millions

Number of shares outstanding at end of the year

Particulars	No of Shares
Number of shares outstanding at beginning of the year	3,24,01,000
Changes during the year	--
Number of shares outstanding at end of the year	3,24,01,000

RESTRICTION ON DISBURSEMENT OF DIVIDEND:

As part of the general terms and conditions in respect of borrowings from Banks, prior permission should be taken from the lending Banks before distribution of dividend. Similarly, the term lenders have imposed a condition that, no dividend shall be declared in the event of default in the scheduled repayment of installment.

SHAREHOLDER HOLDING MORE THAN 5% SHARE:

NAME OF SHAREHOLDERS	NO. OF SHARES	% OF HOLDING
Ande Prathap Reddy	4907048	15.14
APR Holdings Investment Private Limited	4756720	14.68
A. Shakunthala Devi	1944450	6.00
Ande Prathap Reddy	1650811	5.09

During the five years immediately preceding the financial year 2013-14, the company has not issued any shares without payment being received in cash, nor issued any bonus shares and the company did not buy back any shares.

The Company has only one class of Shares i.e. Equity Shares.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	64.802	64.802	64.802
(b) Reserves and Surplus	2,312.454	1,957.602	1,660.033
(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)	2,377.256	2,022.404	1,724.835

(3) Non-Current Liabilities
(a) long-term borrowings	728.797	889.265	1,037.246
(b) Deferred tax liabilities (Net)	494.676	424.351	398.212
(c) Other long term liabilities	79.950	50.414	58.546
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1,303.423	1,364.030	1,494.004

(4) Current Liabilities
(a) Short term borrowings	1,355.534	1,394.600	1,055.805
(b) Trade payables	441.918	863.460	355.068
(c) Other current liabilities	376.130	426.697	363.378
(d) Short-term provisions	178.503	142.330	211.424
Total Current Liabilities (4)	2,352.085	2,827.087	1,985.675

TOTAL	6,032.764	6,213.521	5,204.514

I. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3,210.835	3,250.765	2,340.511
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	31.489	81.179	629.227
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7.128	7.128	7.128
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7.369	7.431	7.536
(e) Other Non-current assets	22.063	22.759	20.522
Total Non-Current Assets	3,278.884	3,369.262	3,004.924

(2) Current assets
(a) Current investments	294.400	199.400	199.400
(b) Inventories	895.295	906.350	567.520
(c) Trade receivables	1,149.811	1,315.261	1,037.135
(d) Cash and cash equivalents	66.898	97.439	26.771
(e) Short-term loans and advances	347.476	325.809	368.764
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	2,753.880	2,844.259	2,199.590

TOTAL	6,032.764	6,213.521	5,204.514

PROFIT and LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Income	6,048.618	6,101.263	5,117.960
		Other Income	33.883	26.026	37.103
		TOTAL (A)	6,082.501	6,127.289	5,155.063

Less	EXPENSES
		Cost of Materials Consumed	3,493.365	4,034.225	2,871.720
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	13.748	(224.505)	250.306
		Employees benefits expense	183.987	158.448	129.006
		Other expenses	1,333.932	1,222.937	1,064.768
		Exceptional items	0.000	0.000	(1.188)
		TOTAL (B)	5,025.032	5,191.105	4,314.612

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1,057.469	936.184	840.451

Less	FINANCIAL EXPENSES (D)		314.160	315.104	254.012

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		743.309	621.080	586.439

Less/ Add	DEPRECIATION/ AMORTISATION (F)		185.902	164.649	126.879

	PROFIT BEFORE TAX (E-F) (G)		557.407	456.431	459.560

Less	TAX (H)		193.825	121.204	147.725

	PROFIT AFTER TAX (G-H) (I)		363.582	335.227	311.835

	Earnings Per Share (Rs.)		11.22	10.35	9.62

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Cash flow from Operating Activities	595.964	1106.420	944.013

QUARTERLY RESULTS

Particulars	30.06.2015	30.09.2015
Particulars	UNAUDITED
Net Sales	1596.400	1588.160
Total Expenditure	1306.600	1308.680
PBIDT (Excl OI)	289.800	279.480
Other Income	6.800	7.550
Operating Profit	296.600	287.030
Interest	57.300	51.850
Exceptional Items	NA	NA
PBDT	239.300	235.180
Depreciation	43.900	43.920
Profit Before Tax	195.400	191.260
Tax	67.200	73.130
Provisions and contingencies	NA	NA
Profit After Tax	128.200	118.130
Extraordinary Items	NA	NA
Prior Period Expenses	NA	NA
Other Adjustments	NA	NA
Net Profit	128.200	118.130

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	6.01	5.49	6.09

Operating Profit Margin (PBIDT/Sales)	(%)	17.48	15.34	16.42

Return on Total Assets (PBT/Total Assets}	(%)	9.30	7.45	10.06

Return on Investment (ROI) (PBT/Networth)		0.23	0.23	0.27

Debt Equity Ratio (Total Debt /Networth)		0.88	1.13	1.21

Current Ratio (Current Asset/Current Liability)		1.17	1.01	1.11

STOCK PRICES

Face Value	Rs.2/-
Market Value	Rs.114.20/-

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	64.802	64.802	64.802
Reserves and Surplus	1660.033	1957.602	2312.454
Net worth	1724.835	2022.404	2377.256

long-term borrowings	1037.246	889.265	728.797
Short term borrowings	1055.805	1394.600	1355.534
Total borrowings	2093.051	2283.865	2084.331
Debt/Equity ratio	1.213	1.129	0.877

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	5117.960	6101.263	6048.618
		19.213	(0.863)

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	5117.960	6101.263	6048.618
Profit	311.835	335.227	363.582
	6.09%	5.49%	6.01%

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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

AN OVERVIEW OF INDIAN CHEMICAL INDUSTRY:

Over the years, India has been growing as one of the world leaders in the discovery, development and manufacture of API's, chemicals and speciality chemicals. Balaji Amines Limited seeing this as an opportunity has written its impressive growth story, providing high-quality speciality chemicals and inputs for API's etc. to a host of well-known global brands. Through setting up plants with new process refinements in its indigenous facilities, Balaji Amines Limited has been consistently adding capacities to meet the ever-growing demand for its world-class products, from both the domestic and overseas markets. Continuing to play the key role in specific segments with excellence in production, the company is expanding by setting up new plants for development of new processes in its R and D centre.

Balaji Amines Limited looks to work on core strengths further and - with continued emphasis on RandD - diversify into newer products with high growth potential, with particular emphasis on overseas markets. This strategy will offset possible external turbulences like downturn in market demand, escalation in raw material prices and changes in regulatory frameworks for the company, which has been accorded 'Star Export House' status by the Ministry of Commerce, Government of India. The company has obtained registration for some of its products in Europe under the 'REACH' (Registration, Evaluation, Authorization and Restriction of Chemicals) procedure. Indian Chemical Industry is the fastest growing Industry. The majority of the chemicals manufactured by the company are fine and speciality chemicals, Amines and derivatives catering to Indian Pharma, Agro Chemicals, Textiles, Refineries, Paints and Dyes, Water treatment chemicals etc.

BUSINESS REVIEW AND FUTURE OUT LOOK:

A) Manufacturing of Aliphatic Amines:

The company is a leading manufacturer of speciality chemicals and Amines and its derivatives in India in terms of volume and value in its class.

Majority of customers are:

1. API'S

2. AGRO CHEMICALS

3. REFINERIES

4. WATER TREATMENT CHEMICALS and RUBBER CHEMICALS

5. LEATHER PROCESSING CHEMICALS

6. DYE STUFFS and PAINT INDUSTRY

The Global slowdown has caused Indian Chemical Industry to re look at the competencies for sustainability and in this direction the company has emerged as a leader by evolving from being a local player to a global player by adopting new technologies in processes and selection of product mix, such that the company keeps its performance. With the REACH CERTIFICATION for some of the products, the company is able to achieve growth in exports and maintain the performance.

The company takes pride in setting up world class facilities for some of the basic chemicals so that the scale of operations will improve the margins over a period of time. The future is for those who are prepared for any challenge and the company has consolidated all its strengths by expanding existing capacities by adopting new process and diversification to enhance value chains of some of the products.

B) Hotel Industry Outlook:

Solapur is in the radar of major industrial development hub. After Mumbai, Pune and Nasik, Solapur is the next destination for the development of industries. Considering the fact of growing Solapur, the Board of Directors have considered to come up with 5 star Property in Solapur. The new industries like Thermax, some of cement manufacturing plants, NTPC and Power Grid Corporation of India will definitely boost our hotel business. The city of Solapur is surrounded by famous pilgrim centers like Akkalkot, Tuljapur, Pandhapur, and are visited by national and international devotees. The lack of required facilities for these devotees was a major concern. Balaji Sarovar is planning to offer packages for those pilgrim centers to attract more visitors. The Hotel has tied up with various travel and tourism agencies to attract the travelers/devotees through its attractive website and marketing tools like facebook and twitter.

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWINGS
Loan from Directors
Ande Prathap Reddy	37.678	28.738
Nomula Rajeshwar Reddy	15.585	9.856
Dundarapu Ram Reddy	9.741	9.650
Gaddam Hemath Reddy	1.843	1.052
Ande Srinivas Reddy	7.005	0.000
	0	0
Loan from Other related parties	0	0
Balaji Benzochem Pvt.Ltd.	4.955	5.075
Balaji Speciality Finechem Products Pvt.Ltd.	0.949	1.180
Total	77.756	55.551

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30TH SEPTEMBER 2015

(Rs. In Million)

Particulars	3 Months Ended	3 Months Ended	Half Year Ended
	30.09.2015	30.06.2015	30.09.2015
	UNAUDITED
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	1588.164	1596.364	3184.528
b) Other operating income	0.000	0.000	0.000
Total income from Operations(net)	1588.164	1596.364	3184.528
2.Expenditure
a) Cost of material consumed	874.751	824.835	1699.586
b) Purchases of stock in trade	0.000	0.000	0.000
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	44.593	123.254	167.847
d) Employees benefit expenses	68.784	65.482	134.266
e) Depreciation and amortization expenses	43.915	43.915	87.830
f) Power and Fuel	0.000	0.000	0.000
g) Other expenditure	320.556	292.948	613.504
Total expenses	1352.599	1350.434	2703.033
3. Profit from operations before other income and financial costs	235.565	245.930	481.495
4. Other income	7.552	6.754	14.306
5. Profit from ordinary activities before finance costs	243.117	252.684	495.801
6. Finance costs	51.854	57.293	109.147
7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	191.263	195.391	386.654
8. Exchange Currency Fluctuation Loss/ (Gain)	0.000	0.000	0.000
9. Profit from ordinary activities before tax Expense:	191.263	195.391	386.654
10.Tax expenses	73.134	67.229	140.363
11.Net Profit / (Loss) from ordinary activities after tax (9-10)	118.129	128.162	246.291
12.Extraordinary Items (net of tax expense)	0.000	0.000	0.000
13.Net Profit / (Loss) for the period (11 -12)	118.129	128.162	246.291
14.Paid-up equity share capital (Nominal value Rs.02/- per share)	64.802	64.802	64.802
15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year	2312.454	2312.454	2312.454
16.i) Earnings per share (before extraordinary items) of Rs.02/- each) (not annualised):
(a) Basic and diluted	3.64	3.96	7.60

A. Particulars of shareholding
1. Public Shareholding
- Number of shares	14775013	14775013	14775013
- Percentage of shareholding	45.60	45.60	45.60
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	6432000	6732000	6432000
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	36.49	38.19	36.49
Percentage of shares (as a % of total share capital of the company)	19.85	20.78	19.85

b) Non Encumbered
Number of shares	11193987	10893987	11193987
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	63.50	61.80	63.50
Percentage of shares (as a % of total share capital of the company)34.55	34.55	33.62	34.55


B. Investor Complaints
Pending at the beginning of the quarter	NIL
Receiving during the quarter	NIL
Disposed of during the quarter	NIL
Remaining unreserved at the end of the quarter	NIL

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT FOR THE QUARTER / HALF YEAR ENDED 30TH SEPTEMBER 2015

(Rs. In Million)

Particulars	3 Months Ended	3 Months Ended	Half Year Ended
	30.09.2015	30.06.2015	30.09.2015
	UNAUDITED
1. Segment Revenue
a) Amines Division	1558.458	1532.775	3121.233
b) Hotel Division	30.207	33.789	63.996
Total segment revenue	1588.665	1595.564	3185.229
Less: Inter – segment revenue	0.501	0.200	0.701
Total income from operations (net sales)	1588.164	1596.364	3184.528

2. Segment Results
Profit/ (loss) before tax and interest
a) Amines Division	251.425	260.799	512.224
b) Hotel Division	(8.308)	(8.115)	(16.423)
Total segment results	243.117	252.684	495.801
(Add)/Less: Finance Costs
a) Amines Division	45.195	50.375	95.570
b) Hotel Division	6.659	6.918	13.577
Total	51.854	57.293	109.147
Total Profit Before Tax
a) Amines Division	206.230	210.424	416.654
b) Hotel Division	(14.967)	(15.033)	(30.000)
Total	191.263	195.391	386.654

3. Capital Employed
(Segment Assets – Segment Liabilities)
Segment Assets
a) Amines Division	4693.742	4816.655	4693.742
b) Hotel Division	971.192	988.834	971.200
Total	5664.934	5805.489	5664.934

Segment Liabilities
a) Amines Division	2789.720	3006.164	2789.720
b) Hotel Division	324.595	334.961	324.595
Total	3114.315	3341.125	3843.610

INDEX OF CHARGES:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10416243	06/03/2013	1,200,000.00	BANK OF BARODA	SOLAPUR MAIN BRANCH, CHATTI GALLI, P.O. BAX NO. 101, SOLAPUR - 413002, MAHARASHTRA, INDIA	B71933626
2	10411959	19/02/2013	200,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD- 500082, ANDHRA PRADESH, INDIA	B70808258
3	10387609	03/11/2012	90,000,000.00	BANK OF BARODA	BANK OF BARODA, SOLAPUR MAIN BRANCH, CHATTI GALI, P. O BOX NO. 101, SOLAPUR- 413002 , MAHARASHTRA, INDIA	B62396411
4	10319137	29/10/2011	480,000,000.00	STATE BANK OF HYDERABAD	OVERSEAS BRANCH, 6-3-652, "KAUTILYA', SOMAJIGUDA, HYDERABAD - 500082, ANDHRA PRADESH, INDIA	B25847500
5	10244616	24/09/2010	240,000,000.00	BANK OF BARODA	BANK OF BARODA, SOLAPUR MAIN BRANCH, CHATTI GALI, P.O BOX NO. 101, SOLAPUR - 413002, MAHARASHTRA, INDIA	A96599584
6	10218606	04/06/2010 *	59,500,000.00	BANK OF BARODA	BANK OF BARODA, SOLAPUR MAIN BRANCH, CHATTI GALI, P.O BOX NO. 101, SOLAPUR - 413002, MAHARASHTRA, INDIA	A88487863
7	10209464	12/10/2010 *	400,000,000.00	STATE BANK OF HYDERABAD	STATE BANK OF HYDERABAD, OVERSEAS BRANCH, 6-3-652, KAUTILYA, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA	A98026974
8	10033779	09/03/2010 *	480,000,000.00	STATE BANK OF HYDERABAD	STATE BANK OF HYDERABAD, OVERSEAS BRANCH, "KAUTILYA", SOMAJIGUDA, HYDERABAD - 500082, ANDHRA PRADESH, INDIA	A82345489
9	90086643	02/12/2013 *	2,980,000,000.00	STATE BANK OF HYDERABAD	OVERSEAS BRANCH, 6-3-652, " KAUTILYA', SOMAJIGUDA, HYDERABAD - 500082, ANDHRA PRADESH, INDIA	B92475409
10	90092432	15/11/2005 *	430,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH; SOMEJI GUDA, HYDERABAD, ANDHRA PRADESH, INDIA	-

* Date of charge modification

FIXED ASSETS:

Land
Building
Wind Electric Generator
Plant and Machinery
Furniture and Fixtures
Office Equipment’s
Vehicles

CMT REPORT (Corruption, Money Laundering and 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 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. 66.52
UK Pound	1	Rs. 100.44
Euro	1	Rs. 70.44

INFORMATION DETAILS

Information Gathered by :	PRP

Analysis Done by :	KSP

Report Prepared by :	SYL

SCORE and 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	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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 and 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.