MIRA INFORM REPORT

Report No. :	305594
Report Date :	05.01.2015

IDENTIFICATION DETAILS

Name :	SALGUTI INDUSTRIES LIMITED (w.e.f. 10.09.2006)
Formerly Known As :	SALGUTI PLASTICS LIMITED
Registered Office :	1-2-288/6/4, Domalaguda, Hyderabad – 500029, Telangana
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.10.1984
Com. Reg. No.:	01-005048
Capital Investment / Paid-up Capital :	Rs.75.367 Millions
CIN No.: [Company Identification No.]	L25209TG1984PLC005048
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
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 :	Manufacturing HDPE/PP Woven sacks for packing of Fertilizers and Cement and Cotton grey fabric for garments, Bed Linen and Furnishings.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow and delayed
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating constrained on account of recent delays in debt servicing obligation due to weak liquidity profile and losses that company has incurred from its operational activities. Business is active. Payments are reported to be slow but delayed. The company can be considered for business dealings on safe and secured trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Fund Based Limits = D
Rating Explanation	Lowest credit quality and very low prospects of recovery.
Date	June 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 31-03-2014.

LOCATIONS

Registered Office :	1-2-288/6/4, Domalaguda, Hyderabad –500029, Telangana, India
Tel. No.:	91-40-27635939 / 27603580 / 27630629
Fax No.:	91-40-27635939 / 27630629
E-Mail :	salguti_plastics@yahoo.com salguti234@yahoo.co.in
Website :	www.salguti.com
Corporate Office :	8-2-334/18, 3^rd Floor, Road No. 3, Banjara Hills, Hyderabad - 500034, Telangana, India
Factory 1 :	Survey No. 310 and 311, Gollaplly (Village), Jadcharla (Mandal), Mahaboobnagar-509301, Telangana, India
Factory 2 :	Survey No. 548/AA, Mudireddipally (V), Balanagar Mandal, Mahaboobnagar District, Telangana, India
Tel No.:	91-8542-230050
Factory 3 :	Mr. Plot No. 154/A2, IDA Bollaram (Miyapur), District Medak - 502325, Telangana, India
Tel No.:	91-8458-279250

DIRECTORS

As on 31.03.2014

Name :

Mr. Vishnuvardhan Reddy Salguti

Designation :

Managing Director

Address :

1-2-288/6/4, Domalguda, Hyderabad – 500029, Telangana, India

Date of Birth/Age :

24.04.1958

Date of Appointment :

20.10.1984

DIN :

00051641

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	L25209TG1984PLC005048	SALGUTI INDUSTRIES LIMITED	Managing director	20/10/1984	20/10/1984	-	Active	NO
2	U45200TG1988PTC008564	SALGUTI BUILDERS PRIVATE LIMITED	Director	21/04/1988	21/04/1988	-	Active	NO
3	U18100TG1994PLC017268	SALGUTI TEXTILES LIMITED	Director	29/03/1994	29/03/1994	-	Active	NO
4	U01122TG1995PLC019918	SPRING FIELDS AGROTECH LIMITED	Director	05/04/1995	05/04/1995	-	Active	NO
5	U40109TG1999PTC031146	JURALA POWER PRIVATE LIMITED	Director	11/04/1999	11/04/1999	-	Active	NO
6	U40109TG1999PTC031147	GADWAL POWER PROJECTS PRIVATE LIMITED	Director	11/04/1999	11/04/1999	-	Active	NO
7	U24110AP1999PLC031491	PRATHYUSHA CHEMICALS AND FERTILISERS LIMITED	Director	30/10/2000	30/10/2000	22/07/2009	Active	NO

Name :

Mrs. Rajitha Reddy Salguti

Designation :

Whole-time Director

Address :

1-2-288/6/4, Domalguda, Hyderabad – 500029, Telangana, India

Date of Birth/Age :

01.05.1962

Date of Appointment :

20.10.1984

DIN :

00051603

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	L25209TG1984PLC005048	SALGUTI INDUSTRIES LIMITED	Whole-time director	20/10/1984	20/10/1984	-	Active	NO
2	U45200TG1988PTC008564	SALGUTI BUILDERS PRIVATE LIMITED	Director	21/04/1988	21/04/1988	-	Active	NO
3	U65993TG1992PTC015083	SALGUTI FINANCE AND INVESTMENTS PVT LIMITED	Director	30/11/1992	30/11/1992	-	Active	NO
4	U15143TG1993PTC015331	KISSAN OIL REFINERIES PRIVATE LIMITED	Director	04/02/1993	04/02/1993	-	Active	NO
5	U01122TG1995PLC019918	SPRING FIELDS AGROTECH LIMITED	Director	05/04/1995	05/04/1995	-	Active	NO
6	U40109TG1999PTC031146	JURALA POWER PRIVATE LIMITED	Director	30/06/1999	30/06/1999	-	Active	NO
7	U18100TG1994PLC017268	SALGUTI TEXTILES LIMITED	Director	29/03/2004	29/03/2004	-	Active	NO

Name :

Mr. Ravi Rajender Reddy

Designation :

Additional Director

Date of Birth/Age :

60 Years

Qualifications :

B.Sc. Agricultural

Date of Appointment :

19.12.2013

DIN No.:

02262067

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	U01122TG1995PLC019918	SPRING FIELDS AGROTECH LIMITED	Director	05/04/1995	05/04/1995	-	Active	NO
2	U27100TG2008PTC060899	U R STEELS PRIVATE LIMITED	Director	08/09/2008	08/09/2008	-	Active	Yes
3	L25209TG1984PLC005048	SALGUTI INDUSTRIES LIMITED	Additional director	19/12/2013	19/12/2013	-	Active	NO

Name :

Mr. Uma Reddy Raavi

Designation :

Additional Director

Date of Birth/Age :

54 Years

Qualifications :

B.A.

Date of Appointment :

09.11.2013

DIN No.:

02291409

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	U01122TG1995PLC019918	SPRING FIELDS AGROTECH LIMITED	Director	05/04/1995	05/04/1995	-	Active	NO
2	U27100TG2008PTC060899	U R STEELS PRIVATE LIMITED	Director	08/09/2008	08/09/2008	-	Active	Yes
3	L25209TG1984PLC005048	SALGUTI INDUSTRIES LIMITED	Additional director	09/11/2013	09/11/2013	-	Active	NO

Name :

Mr. Draksharam Nagaraj

Designation :

Additional Director

Date of Birth/Age :

56 Years

Qualifications :

Bachelor’s Degree in Commerce

Date of Appointment :

29.09.2013

DIN No.:

02306564

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	L25209TG1984PLC005048	SALGUTI INDUSTRIES LIMITED	Director	26/09/2013	04/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Deepthi Tanniru
Designation :	Company Secretary

SHAREHOLDING PATTERN

As on 30.09.2014

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	2682725	35.60
Bodies Corporate	2371875	31.47
Sub Total	5054600	67.07
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	5054600	67.07
(B) Public Shareholding
(1) Institutions
Central Government / State Government(s)	250000	3.32
Sub Total	250000	3.32
(2) Non-Institutions
Bodies Corporate	447002	5.93
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 million	1574698	20.89
Individual shareholders holding nominal share capital in excess of Rs.0.100 million	206000	2.73
Any Others (Specify)	4400	0.06
Non Resident Indians	4200	0.06
Clearing Members	200	0.00
Sub Total	2232100	29.62
Total Public shareholding (B)	2482100	32.93
Total (A)+(B)	7536700	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)	7536700	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing HDPE/PP Woven sacks for packing of Fertilizers and Cement and Cotton grey fabric for garments, Bed Linen and Furnishings.
Products :	HDPE/PP Woven Sacks Cotton Grey Fabric
Brand Names :	--
Agencies Held :	--
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

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
Remark :	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
Remark :	Not Available

No. of Employees :

Not Available

Bankers :

• Oriental Bank of Commerce, Plot No.3, Regency Plaza, Gayatri Nagar, Ammerpet, Mythri Vihar Area, Hyderabad – 500038, Telangana, India
• Andhra Bank, Sultan Bazar Branch, Koti, Hyderabad- 500001, Telangana, India
• Bank of Baroda

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
From Banks	152.614	205.261
From Institutions	57.293	28.510
SHORT TERM BORROWINGS
Cash Credits and Working Capital Demand Loan from Banks	226.718	223.260
Total	436.625	457.031

Notes:

Long Term Borrowings

Loans from Banks and Financial Institutions

1. Term Loans taken by company from Andhra Bank, Bank of Baroda, Oriental Bank of Commerce are secured by way of hypothecation of plant and machinery, and buildings, and mortgage of Directors Agricultural land of S. Vishnu Vardhan Reddy and S. Rajitha Reddy & personal Guarantee of Directors of the company.

2. Corporate Loan Sanction by APSFC on 16th November, 2013 of Rs.25.000 Millions repayable in 55 monthly installments of Rs.0.454 Million each with 14.0% interest. Period of loan 5 Years including moratorium of 6 months.

3. Interest Free Unsecured loan taken from Directors and their relatives.

4. The Rajapur Unit has sanctioned Sales Tax Deferment issued by the Commissioner of Industries, Hyderabad in the year 1997-98. Hence the Sales Tax collected during the previous years is charged to Profit and Loss account and the same was treated as unsecured loan. Unsecured Loans includes Rs.32.890 Millions (Previous year Rs.36.670 Millions) towards Sales Tax deferment and Out of which Rs.3.780 Millions has been repaid during the Year towards third instalment.

Short Term Borrowings

Cash Credit / Working capital loan from Andhra Bank, Bank of Baroda, Oriental Bank of Commerce is secured by way of hypothecation of second charge basis of all current assets of the company

Auditors :
Name :	P Murali Mohana Rao Chartered Accountant
Address :	6-3-655/2/3, Somajiguda, Hyderabad – 500082, Telangana, India
Tel. No.:	91-40-23326666
Fax No.:	91-40-23392474
PAN No:	AAWPP7457L
Memberships :	--
Collaborators :	--
Common Directors :	Salguti Builders Private Limited Salguti Textiles Limited

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7536700	Equity Shares	Rs.10/- each	Rs.75.367 Millions

Reconciliation of the number of shares

Equity Shares	Number of Shares
Shares outstanding at the beginning of the year	7536700
Shares issued during the year	--
Shares outstanding at the end of the year	7536700

Details of equity shares held by shareholders holding more than 5% shares:

Name of Shareholder	Number of Shares	% holding
S. Rajitha Reddy	492700	6.53%
Salguti Finance and Invest Private Limited	1454375	19.30%
S. Vishnuvardhan Reddy	660000	8.76%
Salguti Textiles Limited	472500	6.27%

FINANCIAL DATA

[all figures are in Rupees Millions]

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	75.367	75.367	75.367
(b) Reserves & Surplus	43.878	50.978	55.337
(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)	119.245	126.345	130.704
(3) Non-Current Liabilities
(a) long-term borrowings	345.240	326.201	280.596
(b) Deferred tax liabilities (Net)	43.942	40.178	35.287
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	389.182	366.379	315.883
(4) Current Liabilities
(a) Short term borrowings	226.718	223.260	195.319
(b) Trade payables	83.311	81.092	78.751
(c) Other current liabilities	57.653	40.367	37.470
(d) Short-term provisions	3.031	3.366	3.965
Total Current Liabilities (4)	370.713	348.085	315.505
TOTAL	879.140	840.809	762.092
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	381.340	402.348	346.672
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	21.742
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.685	1.565	1.145
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	16.934	14.484	7.442
(e) Other Non-current assets	5.563	4.167	5.000
Total Non-Current Assets	405.522	422.564	382.001
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	256.655	197.128	172.194
(c) Trade receivables	186.469	191.125	143.170
(d) Cash and cash equivalents	0.553	1.547	1.522
(e) Short-term loans and advances	28.874	27.818	62.436
(f) Other current assets	1.067	0.627	0.769
Total Current Assets	473.618	418.245	380.091
TOTAL	879.140	840.809	762.092

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1,227.731	1,100.511	998.880
		Other Income	0.709	0.758	0.304
		TOTAL (A)	1,228.440	1,101.269	999.184
Less	EXPENSES
		Cost of Materials Consumed	1,022.506	888.812	814.667
		Increase in Inventory (Finished Goods & WIP)	(41.130)	(9.541)	(19.690)
		Employee Benefit Expenses	47.994	47.464	47.991
		Other Operating Expenses	90.846	71.930	60.829
		Administrative Expenses	9.092	10.280	10.211
		TOTAL (B)	1,129.308	1,008.945	914.008
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		99.132	92.324	85.176
Less	FINANCIAL EXPENSES (D)		75.382	71.545	56.776
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		23.750	20.779	28.400
Less/ Add	DEPRECIATION/ AMORTISATION (F)		27.086	25.372	20.375
	PROFIT BEFORE TAX (E-F) (G)		(3.336)	(4.593)	8.025
Less	TAX (H)		3.764	4.891	6.343
	PROFIT AFTER TAX (G-H) (I)		(7.100)	(9.484)	1.682
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		11.001	20.485	18.803
	BALANCE CARRIED TO THE B/S		3.901	11.001	20.485
	Earnings Per Share (Rs.)		(9.84)	(1.26)	0.22

QUARTERLY RESULTS

Particulars	30.06.2014 (Unaudited)	30.09.2014 (Unaudited)
	1^st Quarter	2^nd Quarter
Net Sales	308.800	338.800
Total Expenditure	287.700	312.300
PBIDT (Excl OI)	21.100	26.400
Other Income	0.600	0.400
Operating Profit	21.700	26.900
Interest	18.000	17.600
Exceptional Items	0.000	0.000
PBDT	3.700	9.300
Depreciation	6.800	6.800
Profit Before Tax	(3.100)	2.500
Tax	0.000	1.000
Provisions and contingencies	0.000	0.000
Profit After Tax	(3.100)	1.500
Extraordinary Items	0.000	0.000
Prior Period Expenses	0.000	0.000
Other Adjustments	0.000	0.000
Net Profit	(3.100)	1.500

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(0.58)	(0.86)	0.17
Operating Profit Margin (PBDIT/Sales)	(%)	8.07	8.39	8.53
Return on Total Assets (PBT/Total Assets}	(%)	(0.38)	(0.55)	1.09
Return on Investment (ROI) (PBT/Networth)		(0.03)	(0.04)	0.06
Debt Equity Ratio (Total Debt /Networth)		4.80	4.35	3.64
Current Ratio (Current Asset/Current Liability)		1.28	1.20	1.20

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	75.367	75.367	75.367
Reserves & Surplus	55.337	50.978	43.878
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	130.704	126.345	119.245
long-term borrowings	280.596	326.201	345.240
Short term borrowings	195.319	223.260	226.718
Total borrowings	475.915	549.461	571.958
Debt/Equity ratio	3.641	4.349	4.796

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	998.880	1,100.511	1,227.731
		10.174	11.560

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	998.880	1,100.511	1,227.731
Profit	1.682	(9.484)	(7.100)
	0.17%	(0.86%)	(0.58%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN:

Particulars	31.03.2014 Rs. In Millions	31.03.2014 Rs. In Millions
LONG TERM BORROWINGS
From Directors and their relatives	96.952	53.611
From Others	38.381	38.819
Total	135.333	92.430

FINANCIAL RESULTS REVIEW AND PROSPECTS

The company has recorded a total income of Rs.1227.731 Millions for the year ended 31st March, 2014 against total income of Rs.1100.511 Millions last year. This figure has grown up by Rs.127.220 Millions in this financial as compared to the same period in the last year. But the company has recorded a net loss of Rs.7.100 Millions for the current period against net profit of Rs.9.483 Millions for the last year. This is due to increase in power tariff & financial costs.

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30^TH SEPTEMBER 2014

(Rs. In Millions)

Particulars	Quarter Ended ( Unaudited)	Quarter Ended ( Unaudited)	Half Year Ended ( Unaudited)
	30.09.2014	30.06.2014	30.09.2014
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	338.772	308.788	647.560
b) Other operating income	0.000	0.000	0.000
Total income from Operations(net)	338.772	308.788	647.560
2.Expenditure
a) Cost of material consumed	283.568	221.392	504.960
b) Purchases of stock in trade	(13.564)	25.453	11.889
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	13.670	12.198	25.868
d) Employees benefit expenses	28.652	28.698	57.350
e) Depreciation and amortization expenses	6.771	6.771	13.542
f) Other expenditure	283.568	221.392	504.960
Total expenses	319.097	294.512	613.609
3. Profit from operations before other income and financial costs	19.675	14.276	33.951
4. Other income	0.422	0.635	1.057
5. Profit from ordinary activities before finance costs	20.097	14.911	35.008
6. Finance costs	17.584	17.998	35.582
7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	2.513	(3.087)	(0.574)
8. Exceptional item	0.000	0.000	0.000
9. Profit from ordinary activities before tax Expense:	2.513	(3.087)	(0.574)
10.Tax expenses	1.021	0.000	1.021
11.Net Profit / (Loss) from ordinary activities after tax (9-10)	1.492	(3.087)	(1.595)
12.Extraordinary Items (net of tax expense)	0.000	0.000	0.000
13.Net Profit / (Loss) for the period (11 -12)	1.492	(3.087)	(1.595)
14.Paid-up equity share capital (Nominal value Rs.10/- per share)	75.367	75.367	75.367
15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year	52.470	50.978	53.337
16.i) Earnings per share (before extraordinary items) of Rs.10/- each) (not annualised):
(a) Basic	0.20	(0.41)	(0.21)
(b) Diluted	0.20	(0.41)	(0.21)

Particulars	Quarter Ended ( Unaudited)	Quarter Ended ( Unaudited)	Half Year Ended ( Unaudited)
	30.09.2014	30.06.2014	30.09.2014
A. Particulars of shareholding
1. Public Shareholding
- Number of shares	2482100	2482100	2482100
- Percentage of shareholding	32.93%	32.93%	32.93%
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	-	-	-
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	-	-	-
Percentage of shares (as a % of total share capital of the company)	-	-	-
b) Non Encumbered
Number of shares	5054600	5054600	5054600
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	100.00%	100.00%	100.00%
Percentage of shares (as a % of total share capital of the company)	67.07%	67.07%	67.07%
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

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Millions)

Particulars	Quarter Ended ( Unaudited)	Quarter Ended ( Unaudited)	Half Year Ended ( Unaudited)
	30.09.2014	30.06.2014	30.09.2014
1. Segment Revenue
a. Plastic	266.608	209.023	475.631
b. Textile	72.164	99.765	171.929
c. Others	0.000	0.000	0.000
Total	338.772	308.788	647.560
Less : Inter Segment Revenue Net Sales	0.000	0.000	0.000
Income from Operations	338.772	308.788	647.560

STATEMENT OF ASSETS AND LIABILITIES

SOURCES OF FUNDS	30.09.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	75.367
(b) Reserves & Surplus	42.283
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	117.650
(3) Non-Current Liabilities
(a) long-term borrowings	348.741
(b) Deferred tax liabilities (Net)	44.963
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	393.704
(4) Current Liabilities
(a) Short term borrowings	224.236
(b) Trade payables	41.157
(c) Other current liabilities	34.860
(d) Short-term provisions	2.928
Total Current Liabilities (4)	303.181
TOTAL	814.535
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	371.353
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	1.685
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	16.934
(e) Other Non-current assets	5.147
Total Non-Current Assets	395.119
(2) Current assets
(a) Current investments	0.000
(b) Inventories	213.934
(c) Trade receivables	191.644
(d) Cash and cash equivalents	0.590
(e) Short-term loans and advances	12.894
(f) Other current assets	0.354
Total Current Assets	419.416
TOTAL	814.535

Notes:

1. The above results were reviewed by the audited committee and have been taken on record by the board in its meeting held on 13-11-2014 subject to limited audit review by the statutory auditors.

2. The company is in the process of reviewing the useful life of tangible fixed assets and identification of their major components, to enable it to provide depreciation on such assets in accordance with Schedule II of the Companies Act, 2013. Pending this, the depredation on such assets has been provided for in accordance with Schedule XIV of the Companies Act, 1956 The effect to this is not quantifiable.

3. The auditors have brought out the above in their Limited Review Report for the company for the quarter ended 30th September 2014

4. Figures for the previous periods have been regrouped or reclassified to make the same comparable with the current period figures

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10540196	17/11/2014	4,650,000.00	Oriental Bank Of Commerce	6-3-865, My Home Jupally, Greenland, Ameerpet, Hyderabad, Telangana - 500016, India	C38993325
2	10465025	21/11/2013	25,000,000.00	Andhra Pradesh State Financial Corporation	5-9-194, Chirag Ali Lane,, P.B.No.165,, Hyderabad, Andhra Pradesh - 500001, India	B91480640
3	10353452	03/05/2012	56,000,000.00	Andhra Bank	Sultan Bazar, Koti, Hyderabad, Andhra Pradesh - 500001, India	B38855896
4	10034656	12/10/2012 *	91,800,000.00	Andhra Bank	Sultan Bazar, Koti, Hyderabad, Andhra Pradesh - 500001, India	B61196408
5	10036895	17/11/2014 *	167,000,000.00	Oriental Bank Of Commerce	6-3-865, My Home Jupally, Greenland, Ameerpet, Hyderabad, Telangana - 500016, India	C38992640
6	90119839	12/09/2012 *	261,900,000.00	Bank Of Baroda	Rbvr Reddy Hostel Complex, Abids Main Branch, Hyderabad, Andhra Pradesh - 500001, India	B59331595
7	90124021	18/09/1998	11,375,000.00	Andhra Pradesh State Financial Corpn.	Chirag Ali Lane, Hyderabad, Andhra Pradesh, India	-
8	90123973	27/02/1998 *	10,200,000.00	Bank Of Baroda	Hyderabad; Main Branch, R.; B. V. R. Reddy Hostel  Campus; Hanuman Tekdi, Hyderabad, Andhra Pradesh - 500001, India	-
9	90123870	01/08/1996	20,000,000.00	Industrial Reconstruction Bank Of India	19; Netaji Subhas Road, Calcutta, West Bengal - 700001, India	-

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.74
UK Pound	1	Rs.92.71
Euro	1	Rs.69.94

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	NO
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		16

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.