MIRA INFORM REPORT

Report No. :	307485
Report Date :	12.02.2015

IDENTIFICATION DETAILS

Name :	BOMBAY BURMAH TRADING CORPORATION LIMITED
Registered Office :	9, Wallace Street, Fort, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	09.04.1863
Com. Reg. No.:	11-000002
Capital Investment / Paid-up Capital :	Rs.139.627 Millions
CIN No.: [Company Identification No.]	L99999MH1863PLC000002
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 :	Subject cover a wide range such as plantations of tea, coffee, cardamon, cocoa, rubber and palm oil; manufacture of starch from tapioca; manufacture of asbestos cement and concrete products; extraction of timber and boat building and repairs; real estate.
No. of Employees :	Information declined by management.

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a part of “Wadia Group”. It is a well-established and reputed company having fine track. The management has seen a drastic dip in its net profitability during 2014. However, financial position of the company appears to be sound. The ratings also take into consideration the working capital intensive nature of the operations. However, trade relations are fair. Business is active. Payment terms are reported as regular and as per commitment. In view of strong support from its group company, the subject can be considered good 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.

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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.

INFORMATION DENIED BY

Name :	Alok
Designation :	Finance Department
Contact No.:	91-22-22079351
Date :	10.02.2015

-

LOCATIONS

Registered Office :	9, Wallace Street, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22079351/ 54
Fax No.:	91-22-22071612
E-Mail :	bbtcl@bom2.vsnl.net.in bbtc.chn@gmail.com
Website :	www.bbtcl.com
Location:	owned
SOUTH INDIA ESTATES
Mudis Group Office	Mudis P.O., Coimbatore District – 642117, Tamilnadu, India
Tel. No.:	91-4253-234244 / 234245
Fax No.:	91-4253-234231
E-Mail :	bbtmudis@dataone.in
Marketing Office	Subramaniam Road, Wellingdon Island, Kochi – 682003, Kerala, India
Tel. No.:	91-484-2666645/ 2666251
Fax No.:	91-484-2668321
E-Mail :	ecotea@vsnl.com ctc@vsnl.com
WEIGHING PRODUCTS DIVISION
Factory :	Plot No.304, New G.I.D.C., Gundlav, Valsad – 396034, Gujarat, India
E-Mail :	afcoset@quest4india.com
Marketing Office :	Plot No.2, Kanjur Village Road, Kanjur Marg (East), Mumbai – 400042, Maharashtra, India
Tel. No.:	91-22-25785651/ 25782852/ 25787529
Fax No.:	91-22-25784389
E-Mail :	afoset@vsnl.com
HEALTH CARE DIVISION
Factory 1 :	DPI – PLot No. 2, Kanjur Village Road, Kanjur Marg (East), Mumbai – 400042, Maharashtra, India
Tel. No.:	91-22-25785651/ 25782303
Fax No.:	91-22-25784389
E-Mail :	inor@bom3.vsnl.net.in
Factory 2 :	MMT – C-1B/ 909, New GIDC, Gundlav, Valsad – 396035, Gujarat, India
E-Mail :	afcoset@quest4india.com
Dental Products of India Division :	Plot No. 161-B, Village Danpur, Rudrapur Kashipur Road, Paragana-Rudrapur, Tehsil Kichha, Udhamsingh Nagar – 263153, Uttarakhand, India
Auto Ancillary Division:	Plot No. 128-133, 3^rd Cross Street, Nehru Nagar, Kottivakkam, Chennai - 600041, Tamilnadu, India
Marketing Office :	Plot No.2, Kanjur Village Road, Kanjur Marg (East), Mumbai – 400042, Maharashtra, India
Tel. No.:	91-22-25785651/ 25782852/ 25787529
Fax No.:	91-22-25784389
E-Mail :	inor@bom3.vsnl.net.in
Tea and Coffee Estates :	· Mudis Group of Estates, Mudis P.O.- 642 117, Coimbatore District, Tamilnadu, India · Singampatti Group of Estates — Manjolai P.O., Tirunelveli District - 627420, Tamilnadu, India · Dunsandle Estate — Dunsandle P.O., Ootacamund – 643005, Nilgiri District, Tamilnadu, India · Elk Hill Group of Estates — Post Box No.12, Sidapur, P. and T.O – 571253, South Coorg, Karnataka, India · Usambara Group, Marvera and Herkulu Estates, P.O. Box 22, Soni, Tanzania
Malaysian Branch Office :	Suite 628, 6^th Floor, Pan Global Plaza, Jalan Wong Ah Fook 80000, Johor Bahru, Malaysia

DIRECTORS

AS ON 31.03.2014

Name :	Nusli N. Wadia
Designation :	Esq., Chairman
Name :	A. K. Hirjee
Designation :	Esq., Vice Chairman
Name :	A. Panjwani
Designation :	Esq., Managing Director
Name :	Ness Wadia
Designation :	Esq., Managing Director
Name :	Keshub Mahindra
Designation :	Esq. Director (upto 13.02.2014)
Name :	M. L. Apte
Designation :	Esq. Director
Name :	D. E. Udwadia
Designation :	Esq. Director
Name :	P. K. Cassels
Designation :	Esq. Director
Name :	B. N. B. Tao
Designation :	Esq. Director
Name :	Jeh Wadia
Designation :	Esq. Director
Name :	Mrs. Vinita Bali
Designation :	Director

KEY EXECUTIVES

Name :	Alok
Designation :	Finance Department
Name :	Mr. Nitin H Datanwala
Designation :	Vice President Corporate and Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2014

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	17000	0.02
Bodies Corporate	39827240	57.08
Sub Total	39844240	57.11
(2) Foreign
Individuals (Non-Residents Individuals / Foreign Individuals)	6141505	8.80
Sub Total	6141505	8.80
Total shareholding of Promoter and Promoter Group (A)	45985745	65.91
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	2001054	2.87
Financial Institutions / Banks	156314	0.22
Insurance Companies	675400	0.97
Foreign Institutional Investors	87431	0.13
Sub Total	2920199	4.19
(2) Non-Institutions
Bodies Corporate	2180367	3.12
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	11242303	16.11
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	1071025	1.54
Any Others (Specify)	6372261	9.13
Trusts	32250	0.05
Non Resident Indians	609211	0.87
Overseas Corporate Bodies	5660700	8.11
Foreign Banks	100	0.00
Foreign Nationals	70000	0.10
Sub Total	20865956	29.91
Total Public shareholding (B)	23786155	34.09
Total (A)+(B)	69771900	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	69771900	100.00

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

Name of the Shareholder	Details of Shares held		Encumbered shares (*)			Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
	No. of Shares held	As a % of grand total (A)+(B)+(C)	No	As a percentage	As a % of grand total (A)+(B)+(C) of sub-clause (I)(a)
Maureen Nusli Wadia	8,500	0.01	0	0.00	0.00	0.01
Ness Nusli Wadia	5,000	0.01	0	0.00	0.00	0.01
Jehangir Nusli Wadia	3,500	0.01	0	0.00	0.00	0.01
Archway Investment Company Limited	1,30,38,600	18.69	0	0.00	0.00	18.69
N W Exports Limited	98,17,275	14.07	500000	5.09	0.72	14.07
Naperol Investment Limited	42,08,400	6.03	0	0.00	0.00	6.03
Wadia Investments Limited	24,72,500	3.54	0	0.00	0.00	3.54
Nowrosjee Wadia & Sons Limited	13,05,000	1.87	0	0.00	0.00	1.87
National Peroxide Limited	12,52,200	1.79	0	0.00	0.00	1.79
Nowrosjee Wadia & Sons Limited	9,92,520	1.42	225000	22.67	0.32	1.42
Pointers Export Private Limited	2,78,000	0.40	0	0.00	0.00	0.40
Sunflower Inv & Textiles Pvt Ltd	62,98,120	9.03	2000000	31.76	2.87	9.03
Go Inv & Trading Private Limited	1,12,625	0.16	0	0.00	0.00	0.16
Varnilam Inv & Trading Company Limited	34,500	0.05	0	0.00	0.00	0.05
Nessville Trading Private Limited	17,500	0.03	0	0.00	0.00	0.03
Nusli Neville Wadia	61,36,505	8.80	0	0.00	0.00	8.80
Nusli Neville Wadia	5,000	0.01	0	0.00	0.00	0.01
Total	4,59,85,745	65.91	2725000	5.93	3.91	65.91

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

Name of the Shareholder	No. of Shares held	Shares as % of Total No. of Shares	Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
Wallace Brothers Trading & Ind Limited	5660700	8.11	8.11
Reliance Cap. Trustee Co. Ltd A/c. Reliance	2000000	2.87	2.87
Total	7660700	10.98	10.98

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them	No. of Shares	Shares as % of Total No. of Shares	Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
Wallace Brothers Trading & Ind Ltd	5660700	8.11	8.11
Total	5660700	8.11	8.11

BUSINESS DETAILS

Line of Business :

Subject cover a wide range such as plantations of tea, coffee, cardamon, cocoa, rubber and palm oil; manufacture of starch from tapioca; manufacture of asbestos cement and concrete products; extraction of timber and boat building and repairs; real estate.

Products :

Item Code No. (ITC Code)	Product Description
84639002	Springs
09024000	Tea
48071000	Laminates

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Information declined by management.

Bankers :

• HDFC Bank Limited
• Axis Bank Limited

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term loans From Bank	630.000	830.000
Other loans Loan against vehicles	1.838	4.481
SHORT TERM BORROWINGS
From Banks	541.797	144.155
Total	1173.635	978.636

NOTE:

LONG TERM BORROWINGS

Details of terms of repayment and security provided

Particulars	Terms of repayment and security	31.03.2014 Rs. In Millions
Term loans from banks:
AXIS Bank – Rupee Term Loan	Note (a)	630.000
HDFC Bank – Rupee Term Loan	Note (b)	0.000
Other loans and advances:
Loan against vehicles	Note (c)	1.838
Total		631.838

(a) Rupee Agri loan from Axis bank of Rs. 1000.000 Millions, - current outstanding Rs. 630.000 Millions is repayable on 1st April 2015. The loan is secured by exclusive charge over Elkhill Estate. The rate of interest on the loan is ranging from 7.5% to 10%.

(b) Rupee loan from HDFC bank of Rs. 50.000 Millions, - current outstanding - Rs. 50.000 Millions is repayable on 31st March 2015. The loan is to be secured by extension of charge of an Equitable Mortgage by deposit of title deeds of Mudis and Singampatti estates together with Buildings and structures thereon in favour of HDFC Bank. The rate of interest on the loan is ranging from 7.5% to 10.5%.

(c) Loan against vehicles are secured by lien on vehicle purchased.

SHORT TERM BORROWINGS

Particulars	Terms of repayment and security	31.03.2014 Rs. In Millions
Term loans from banks:
Axis Bank – Cash Credit	Note (a)	103.181
HDFC Bank – Cash Credit	Note (b)	153.233
HDFC Bank – Short term	Note (c & d)	285.383
Total		541.797

(a) Cash Credit from Axis Bank of Rs. 103.181 Millions (Previous Year Rs. 43.614 Millions), is secured by hypothecation of present and future stocks, book debts and other current assets on pari-passu basis and a collateral on Elkhill Estates. The rate of interest on the loan is ranging from 11% to 13%.

(b) Cash Credit from HDFC Bank of Rs. 153.233 Millions (Previous Year Rs. 2.124 Millions) is secured by hypothecation of present and future stocks, book debts and other current assets on pari-passu basis and a collateral on Singampatti & Mudis Estates. The rate of interest on the loan is ranging from 11% to 13%.

(c) Short term loan from HDFC Bank of Rs. 250.000 Millions (Previous Year Rs. Nil) is secured by hypothecation of present and future stocks, book debts and other current assets on pari-passu basis and a collateral onSingampatti & Mudis Estates. The rate of interest on the loan is ranging from 10% to 11%.

(d) Short term Agri loan from HDFC Bank of Rs. 35.383 Millions (Previous Year Rs. Nil) is secured by hypothecation of present and future stocks, book debts and other current assets on pari-passu basis and a collateral on Singampatti & Mudis Estates. The rate of interest on the loan is ranging from 9% to 10%.

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	Lodha Excelus, 1^st Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India
Solicitors :
Name :	Udwadia Udeshi and Argus Partners
Address :	Elphinstone House, 1^st Floor, 17, Murzban Road, Fort, Mumbai – 400001, Maharashtra, India
Name :	Crawford Bayley and Company
Address :	State Bank Building, 4^th Floor, Hutatma Chowk, Fountain, Mumbai – 400001, Maharashtra, India
Related parties and nature of relationship where control exists Subsidiaries:	Afco Industrial and Chemicals Limited DPI Products and Services Limited Sea Wind Investments and Trading Company Limited Leila Lands Senderian Berhad
Sub-Subsidiaries:	(a) Subsidiary of DPI Products and Services Limited: Subham Viniyog Private Limited (b) Subsidiaries of Leila Lands Senderian Berhad: Naira Holdings Limited Island Horti-Tech Holdings Pte. Limited Leila Lands Limited Restpoint Investments Limited (c) Subsidiaries of Island Horti-Tech Holdings Pte. Limited: Island Landscape and Nursery Pte. Limited ILN Investments Pte. Limited Innovative Organics Inc. (d) Subsidiaries and sub subsidiaries of Leila Lands Limited: ABI Holding Limited Britannia Brands Limited Associated Biscuits International Limited Dowbiggin Enterprises Pte. Limited Nacupa Enterprises Pte. Limited Spargo Enterprises Pte. Limited Valletort Enterprises Pte. Limited Bannatyne Enterprises Pte. Limited · Britannia Industries Limited (e) Subsidiaries of Britannia Industries Limited: Boribunder Finance and Investments Private Limited Flora Investments Company Private Limited Gilt Edge Finance and Investments Private Limited Ganges Vally Foods Private Limited International Bakery Products Limited J. B. Mangharam Foods Private Limited Manna Foods Private Limited Sunrise Biscuit Company Private Limited Britannia and Associates (Mauritius) Private Limited Britannia and Associates (Dubai) Private Company Limited Al Sallan Food Industries Company SAOG · Strategic Food International Company LLC Strategic Brands Holding Company Limited Britannia Lanka Private Limited Daily Bread Gourmet Foods (India) Private Limited Britannia Dairy Private Limited (formerly known as Britannia New Zealand Foods Private Limited) Britannia Dairy Holdings Private Limited Britannia Employees General Welfare Association Private Limited Britannia Employees Medical Welfare Association Private Limited · Britannia Employees Educational Welfare Association Private Limited (f) Subsidiary of Island Landscape & Nursery Pte. Limited: Peninsula Landscape Private Limited Nursery Sdn. Bhd. (g) Subsidiary of ILN Investments Pte. Limited: Saikjaya Holdings Sdn. Bhd. (h) Subsidiaries of Restpoint Investments Limited: Restpoint International Technology Corporation Island Telesystems Pte. Limited (i) Subsidiary of Innovative Organics Inc.: Granum Inc.
Associate Companies:	Lotus Viniyog Private Limited Inor Medical Products Limited Medical Microtechnology Limited
Other Related party :	Go Airlines (India) Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7,50,00,000	Equity Shares	Rs.2/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6,97,71,900	Equity Shares	Rs.2/- each	Rs.139.544 Millions
	Forfeited shares amount paid-up		Rs.0.083 Million
	Total		Rs. 139.627 Millions

NOTE

(a) The Corporation has only one class of equity share having par value of Rs. 2/- (Previous Year Rs. 10/-) per share.

(b) Each holder of equity shares is entitled to one vote per share.

(c) The Corporation declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

(d) During the year ended 31st March, 2014, the amount of per share dividend recognised as distributions to equity shareholders was Rs. 1/- for every share of Rs. 2/- each (Previous Year - Rs. 3/- for every share of Rs. 2/- each). The total dividend appropriation for the year ended 31st March, 2014 amounted to Rs.81.630 millions (Previous Year Rs. 244.889 millions) including corporate dividend tax of Rs.11.858 millions (Previous Year Rs. 35.573 millions).

(e) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(f) Reconciliation of the shares outstanding at the beginning and at the end of reporting year:

Equity shares	31st March, 2014
	No. of shares	Amount in millions
At the beginning of the period	69,771,900	139.544
Add: Issued during the period	--	--
Outstanding at the end of the period	69,771,900	139.544

(g) Details of shares held by each shareholder holding more than 5% shares :

Name of Shareholders	31st March, 2014
	No. of shares	% holding
Archway Investment Company Limited	13,038,600	18.69
N. W. Exports Limited	9,817,275	14.07
Naperol Investments Limited	4,208,400	6.03
Nusli N. Wadia	6,141,505	8.80
Wallace Brothers. Trading and Industrial Limited, U.K.	5,660,700	8.11
Total	38,866,480	55.70

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	139.627	139.627	139.627
(b) Reserves & Surplus	2519.869	2545.942	2557.297
(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)	2659.496	2685.569	2696.924
(3) Non-Current Liabilities
(a) long-term borrowings	631.838	834.481	1290.104
(b) Deferred tax liabilities (Net)	12.139	6.522	0.000
(c) Other long term liabilities	4.579	4.648	4.208
(d) long-term provisions	29.438	23.811	39.178
Total Non-current Liabilities (3)	677.994	869.462	1333.490
(4) Current Liabilities
(a) Short term borrowings	1223.273	447.155	94.744
(b) Trade payables	229.554	203.732	86.176
(c) Other current liabilities	219.117	525.940	381.105
(d) Short-term provisions	124.359	279.614	124.468
Total Current Liabilities (4)	1796.303	1456.441	686.493
TOTAL	5133.793	5011.472	4716.907
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1065.663	991.626	591.823
(ii) Intangible Assets	1.164	1.644	0.377
(iii) Capital work-in-progress	31.837	51.302	4.553
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1655.330	1654.914	1118.344
(c) Deferred tax assets (net)	0.000	0.000	5.058
(d) Long-term Loan and Advances	733.955	123.367	110.946
(e) Other Non-current assets	2.787	2.326	1.641
Total Non-Current Assets	3490.736	2825.179	1832.742
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	840.661	944.347	611.230
(c) Trade receivables	433.262	398.617	138.219
(d) Cash and cash equivalents	58.990	565.140	967.538
(e) Short-term loans and advances	276.165	234.977	1131.526
(f) Other current assets	33.979	43.212	35.652
Total Current Assets	1643.057	2186.293	2884.165
TOTAL	5133.793	5011.472	4716.907

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2747.726	2434.925	2603.017
		Other Income	166.907	211.190	194.741
		TOTAL	2914.633	2646.115	2797.758
Less	EXPENSES
		Cost of materials consumed	865.557	832.805	969.531
		Purchases of stock-in-trade	84.505	293.828	127.287
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	100.323	(224.553)	(40.507)
		Employee benefits expense	721.784	615.538	548.145
		Other expenses	776.591	729.449	816.728
		Cost relating to Real estate under development	2.521	1.290	1.290
		Transfer from Revaluation Reserve	(0.659)	(0.659)	0.000
		TOTAL	2550.622	2247.698	2422.474
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		364.011	398.417	375.284
Less	FINANCIAL EXPENSES		215.101	149.007	185.232
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		148.910	249.410	190.052
Less/ Add	DEPRECIATION/ AMORTISATION		76.613	69.281	71.556
	PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX		72.297	180.129	118.496
	PROFIT ON SALE OF UNDERTAKING		0.000	0.000	1647.058
Add	PROFIT OF ERSTWHILE EAPL FOR THE YEAR ENDED 31ST MARCH, 2012		0.000	73.672	0.000
	LOSS ON EXCHANGE (NET)/ DERIVATIVE LOSS		0.000	0.000	0.000
	PROFIT BEFORE TAX		72.297	253.801	1765.554
Less	TAX		21.018	64.491	400.657
	PROFIT AFTER TAX		51.279	189.310	1364.897
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1720.300	1748.866	637.496
Add	TAKEN OVER FROM THE ERSTWHILE EAPL CONSEQUENT TO AMALGAMATION		0.000	46.013	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	5.130	19.000	140.000
		Proposed Dividend	69.772	209.316	97.681
		Corporate Dividend Tax	11.858	35.573	15.846
	BALANCE CARRIED TO THE B/S		1684.819	1720.300	1748.866
	EARNINGS IN FOREIGN CURRENCY
		Export of Tea, Coffee & Others on F.O.B. basis	441.882	440.883	390.478
		Export of laminates on F.O.B. basis	0.000	0.000	7.609
		Export of Precision Springs on F.O.B. basis	0.000	0.000	17.860
		Export of Dental Products	14.948	2.661	4.442
		Export of Auto Ancillary Products on F.O.B. basis	394.912	274.008	0.000
		Dividend	0.000	0.000	11.327
	TOTAL EARNINGS		851.742	717.552	431.716
	IMPORTS
		Raw Materials	79.338	91.275	249.573
		Components and Spare Parts	0.288	3.323	2.771
		Capital Goods	45.964	79.832	5.898
		Traded Goods – Dental	2.898	1.693	3.217
	TOTAL IMPORTS		128.488	176.123	261.459
	Earnings Per Share (Rs.)		0.73	2.71	19.56

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.87	7.77	52.44
Operating Profit Margin (PBIDT/Sales)	(%)	13.25	16.36	14.42
Return on Total Assets (PBT/Total Assets}	(%)	2.10	7.68	49.19
Return on Investment (ROI) (PBT/Networth)		0.03	0.09	0.65
Debt Equity Ratio (Total Debt/Networth)		0.70	0.48	0.51
Current Ratio (Current Asset/Current Liability)		0.91	1.50	4.20

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	139.627	139.627	139.627
Reserves & Surplus	2557.297	2545.942	2519.869
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2696.924	2685.569	2659.496
long-term borrowings	1290.104	834.481	631.838
Short term borrowings	94.744	447.155	1223.273
Total borrowings	1384.848	1281.636	1855.111
Debt/Equity ratio	0.513	0.477	0.698

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	2603.017	2434.925	2747.726
		-6.458	12.846

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	2603.017	2434.925	2747.726
Profit	1364.897	189.310	51.279
	52.44%	7.77%	1.87%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG TERM DEBTS

Particulars	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Current maturities of long term debts
From Banks	50.000	352.206	219.171
Others – Loan against vehicle	2.641	3.417	2.951
Total	52.641	355.623	222.122

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	No
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
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	No
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

LITIGATION DETAILS

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Lodging No: SSL/1259/2012 Filing Date: 08/05/2012

Petitioner: BEACH TOWERS CONDOMINIUM - Respondent: BOMBAY BURMAH TRADING

Petn. Adv : SAGAR R. MADAN (0) CORPORATION

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission Category: MONETARY SUITS

Last Date: 04/09/2012 Stage: FOR REJECTION [ORIGINAL SIDE

MATTERS]

Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

Act: Code of Civil Procedure 1908

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10520838	23/08/2014	250,000,000.00	THE FEDERAL BANK LIMITED	32 BOMBAY SAMACHAR MARG,, RAJA BAHADUR MANSION, F  ORT, MUMBAI, MAHARASHTRA - 400001, INDIA	C21409784
2	10515864	14/08/2014	480,000,000.00	KOTAK MAHINDRA BANK LIMITED	27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDR  A (E),, MUMBAI, MAHARASHTRA - 400051, INDIA	C17214925
3	10242059	25/02/2012 *	1,000,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND,, P. B.  MARG, WORLI,, MUMBAI, MAHARASHTRA - 400025, INDIA	B34171942
4	10031082	12/10/2010 *	397,500,000.00	AXIS BANK LIMITED	CREDIT MANAGEMENT CENTRE, UNIT-6,, CORPORATE PARK  , CHEMBUR, MUMBAI, MAHARASHTRA - 400071, INDIA	A97562474
5	10016783	06/07/2006	450,000.00	SUNDARAM FINANCE LTD	21 PATULLOS ROAD, CHENNAI, CHENNAI, TAMIL NADU -  600002, INDIA	A03651312
6	10016793	06/07/2006	565,000.00	SUNDARAM FINANCE LTD	21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, IN  DIA	A03117652
7	10020643	06/07/2006	450,000.00	SUNDARAM FINANCE LTD	21 PATULLOS ROAD, CHENNAI, CHENNAI, TAMIL NADU -  600002, INDIA	A03650637
8	10019245	30/06/2006	375,000.00	SUNDARAM FINANCE LTD	21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, IN  DIA	A03118171
9	90226441	25/02/2012 *	560,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND,, P. B.  MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B34279620
10	90223464	25/02/2012 *	560,000,000.00	AXIS BANK LIMITED	AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND,, P.B. M  ARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B34241356

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
From Banks	661.776	300.000
Intercorporate deposits
From Others	13.200	0.000
From Related Parties	6.500	3.000
Total	681.476	303.000

OPERATIONS:

During the year, the Corporation has achieved a gross Income of Rs. 2914.6 Millions compared to Rs. 2646.1 Millions which represents an increase of about 10% over the previous year.

However despite higher gross income, the Profit before Tax was significantly lower at Rs. 72.3 Millions compared to Rs. 180.1 Millions for the previous year.

Continued volatility in international prices of Coffee substantially affected their margins, which were lower by Rs. 15 per kg and despite higher sales volume, the profits diminished.

Increase in wage cost at Tea plantation coupled with statutory liabilities and risingfuel costs consumed the improved sales realization in Tea, leaving little to contribute to profits.

Rise in interest costs resulting from introduction of base rate policy by RBI against concessional interest rates on agricultural loans was a major set back.

Health Care Division performed satisfactorily and reported higher turnover and profitability. The increase in input cost was absorbed by the contribution from higher volume of sales. Electromags Division, despite slow down in the Auto sector registered a modest growth in turnover and profitability has been maintained.

DIVISIONWISE PERFORMANCE:

(a) SOUTH INDIA ESTATES:

(i) Tea –

Production of Tea, including from Bought Leaf, for the year was marginally higher at 8.275 Millions kgs as against 7.842 Millions kgs in the previous year. The Sales Turnover was Rs. 932.7 Millions as against Rs. 831.0 Millions for the previous year. The increase in Sales Turnover was on account of increase in average selling price as the volume remained almost constant at 7.923 Millions kgs as against 8.060 Millions kgs in the previous year.

Despite increased Sales Turnover, the profits remained flat due to substantial increase in the cost of operation.

(ii) Coffee –

Production during the year was 1,303 Tonnes compared to 2,399 Tonnes for the previous year. Lower production was a result of lower intake of outsourced Beans.

However, the Sales Turnover was higher at Rs. 344.2 Millions as against Rs. 284.6 Millions in the previous year. This was due to higher sales volume of 2,247 Tonnes against 1,680 Tonnes in the previous year. International selling prices remained under pressure and their average sales realization per kg was 10% lower compared to the previous year.

(b) TANZANIAN ESTATES:

The crop for the year at 0.802 Million kgs was comparable to the previous year crop of 0.814 Million kgs. in 2012-13. Sales were at Rs. 64.5 Millions as against Rs. 54.2 Millions in previous year.

(c) ELECTROMAGS DIVISION:

ELECTROMAGS – AUTO ANCILLARY DIVISION:

The turnover for the year was marginally higher at Rs. 1117.7 Millions as against Rs. 1059.1 Millions for 2012-13. Although the auto sector slow down persisted during the year, improved sales realization and the cost control resulted in improved gross margins compared to previous year.

(d) HEALTHCARE DIVISION:

The turnover for the year was Rs. 213.2 Millions as against Rs. 180.4 Millions for 2012-13. This was due to higher sales of own manufactured products, mainly Dental alloys and division was able to improve profits.

(e) WEIGHING PRODUCTS DIVISION:

Sale of balances for the year was Rs. 18.4 Millions as against Rs. 23.4 Millions for 2012-13. The Division continued to operate profitably.

(f) REAL ESTATE DEVELOPMENT:

The Corporation is examining various options for unlocking value at Kanjur Marg in Mumbai and Akurdi under its Real Estate Division.

FINANCE:

The Corporation has repaid installments of term loans availed of from the banks/ institutions on their respective due dates. There were no deposits which were due for repayment and remained unclaimed as on 31st March, 2014.

MANAGEMENT DISCUSSION AND ANALYSIS

Plantation Business:

(a) Tea:

INDUSTRY STRUCTURE AND DEVELOPMENTS:

Tea:

Industry Structure and Developments: The Indian Crop upto February, 2014 was 1,153 million kgs compared to 1088 million kgs in previous period. This has been the highest tea crop amongst major Tea growing nations.

Out of the above, North Indian crop was at 926 million kgs compared to 861 million kgs in previous period, an increase of 65 million kgs. Favourable growing conditions in North East has helped the harvesting of bumper crop from North Indian region.

South Indian crop was 227 million kgs at the same level compared to previous period. The weather conditions in South India with long spells of drought followed by excessive rainfall was not conducive for growth. This has resulted in stagnation in harvesting of crop in South India region.

Internal consumption of tea for the year as estimated has been 912 million kgs compared to 890 million kgs for previous year. India has been a surplus tea manufacturing country, and export of tea has significant impact on this business.

The exports upto December, 2013 were lower at 159 million kgs as against 167 million kgs in previous period. Exports to Iran and USA increased in terms of volume. However, exports to CIS and UK declined during the period.

The average price realization on Indian exports increased by Rs. 18.06 per kg. North Indian exports has reported an increase of Rs. 24.83 per kg over previous period and South Indian exports has reported an increase of Rs. 15.45 per kg.

Although India is a surplus tea manufacturing country, some teas are imported for various purposes including blending. Imports upto December, 2013 were lower at 16 million kgs as against 18 million kgs in the previous period.

The average price of import was lower at Rs. 123.30 per kg. as against Rs. 128.74 per kg during previous period.

PERFORMANCE HIGHLIGHTS:

Regular rainfall with good sunshine is required for harvesting tea. In the first quarter of FY 2014, excessive rainfall hampered harvest in South India. This was followed with long spells of dry windy weather. These adverse weather conditions were compounded further with the increased difference between the maximum and minimum temperatures, creating challenges to tea growth. Despite these challenges, BBTC produced 8.27 million kgs of tea in FY 2014 as compared to 7.84 million kgs in the previous year.

On the sales front, BBTCL channelized more teas through the South Indian Auctions to capitalize on the lower availability of good teas at the auctions. BBTCL also increased its organic exports (volumes increasing by 39%).

This strategy helped BBTCL to increase its overall price realization by Rs. 15/- per kg as against the South Indian Auction average increase of Rs. 3.75 per kg.

OUTLOOK:

Unsold stocks from the large North Indian crop in FY 2014, mainly comprising of plainer and medium teas will impact overall tea prices.

There would be pressure to supply better liquoring teas with strong demand from major Packers and Bazaar buyers.

As a result, medium and plainer teas would be neglected and price concertina between the plainer teas and “the Best” would widen to a significant extent.

There is considerable pressure on Indian exports with political unrest in a number of tea drinking nations. This would impact the offtake of teas by exporters which in turn could impact South Indian tea trade.

The investments made by BBTCL in upgrading quality of its tea in the last few years and its ability to make good liquoring teas will help BBTCL to improve the overall price realization for its teas.

(b) Coffee:

INDUSTRY STRUCTURE AND DEVELOPMENTS:

Coffee:

Industry structure and developments: Ongoing uncertainty over the Brazilian coffee crop has caused significant fluctuations in coffee prices during March, 2014 with monthly volatility of the International Coffee Organization (ICO) composite indicator price exceeding 10% in February and March, 2014.

The daily price of the ICO composite ranged from a high of 177.29 US cents/ lb to a low of 153.33 US cents/lb. International prices remain unsteady and sensitive to weather events in Brazil.

In terms of fundamentals, world coffee consumption has continued to increase, with total demand in calendar year 2013 provisionally estimated at around 145.8 million bags. With total production in crop year 2013/14 estimated at 145.7 million bags, it seems likely that the market is heading towards Demand Supply Equilibrium.

The most important variable at this point in time is the size of the 2014/15 Brazilian crop, starting in April 2014. However, the damage resulting from the recent drought has yet to be officially quantified.

PERFORMANCE HIGHLIGHTS:

Their Coffee volumes for 2012-13 was as follows:

BBTCL’s production including Outsourced purchase for 2013-14 Season was as follows:

Arabica ... 4,661 bags

Robusta ... 17,040 bags

TOTAL ... 21,701 bags

Though markets witnessed significant lower average price realization during the year 2013, BBTCL has managed to achieve a better than market average. A comparison of average prices are asfollows:

Grade	Indian Auction 2012-13 Rs./Kg.	BBTCL Average for Exports 2012/13 Rs./Kg.	Indian Auction 2013-14 Rs./Kg.	BBTCL Average for Exports 2013/14 Rs./Kg.
Washed Arabica	223.18	277.33	145.11	195.45
Washed Robusta	154.99	164.07	133.61	145.01

OUTLOOK:

Steady increase in world consumption, coupled with drought in Brazil, may result in Arabica stock deficits in the coming year. This should lead to higher or more stable prices. The real picture will unfold when Brazil’s current harvest is in by July, 2014.

Lower Robusta crops in India is holding the internal prices higher than international prices. With no major change anticipated in world Robusta production in the coming year, prices are expected to be stable.

(c) Auto Ancillary Business:

Industry Structure and Development:

The Division has historically focused mainly on auto industry with 85% of total volume coming from this segment and balance 15% from non-auto segment primarily consisting of ATMs and Washing Machine parts. Auto industry therefore has a direct impact on the operations of the Division.

The year 2013-14 was one of the most difficult years for the Auto industry having witnessed tough conditions due to low growth of the economy, high interest rates, rise in fuel prices and low consumer sentiments.

Car sales in the country declined for the second successive year 2013-14 as the Auto Industry continued to struggle with the demand slump in a slowing economy. According to SIAM, domestic car sales for FY 2013-14 declined by 4.59% at 1,786,899 units from 1,874,055 units in the previous period. In 2012-13 sales fell by 6.69 per cent, which was the first decline in a decade. Car exports stood flat at 0.550 Million units in 2013-14.

Sale of commercial vehicles also posted a decline of 20.23% at 632,738 units compared to 793,211 units in the previous period. The stalling of infrastructure development projects, ban on mining activities and overall slowdown in the economy continued to hit the Commercial Vehicles segment.

The only bright spot was the higher twowheeler

sales helping the industry as a

whole to clock 3.53% growth in 2013-14 at

18,421,538 units compared to 17,793,701

units in 2012-13.

SEGMENT WISE PERFORMANCE:

The current segment wise share of business for the Division is as follows:

Sector	% of Business
4 Wheeler	80%
ATM Parts	10%
2 Wheeler	9%
Power Equipments	1%

The Division is ISO/TS 16949:2009 and ISO 14001 – Eco-Management and Audit System (EMAS) certified. The Division has also implemented ERP MS Ax. With these, the Division has adequate internal control systems in place.

The Division has implemented a series of productivity improvement initiatives through ‘Lean Manufacturing’ techniques and TQM tools during the last few years to achieve operational excellence, waste elimination and reduction in costs.

OUTLOOK:

The downturn in the economy has however, not dented the confidence and spirit of the Automobile Industry. Major OEMs continued to invest and increase capacities. Overall, the outlook for the Indian Auto Industry appears to be positive in the long term and a turnaround is expected during the latter part of the current FY.

The Division is actively pursuing opportunities for a largest share in the White Goods sector i.e. other than existing ATM and Washing Machine parts and exploring opportunities in Solar and Medical Components business in future.

The Division has accordingly projected sale of Rs. 1360.000 Millions for FY 2014-15. This includes growth in business from existing products and customers, as also from an internal drive towards rapid New Product Development and R&D initiatives towards diversification.

(D) HEALTH CARE BUSINESS:

INDUSTRY STRUCTURE AND DEVELOPMENT

Healthcare is one of the top priority sectors for India. Dentistry too has kept pace with these developments. Awareness on oral health has scaled great heights among the Indian population. Proper daily dental care and regular visits to the dentist are now part of the lifestyle practices.

For a population of over 1.2 billion, there are currently over 180000 Dentists including 35,000 specialists practicing in different disciplines in the country. The dentist population ratio is reported to be 1:9,000 in metros/urban and semi urban areas and 1:200000 in the rural areas.

The potential size of India’s dental market is vast and is expected to become one of the largest single country market for overseas dental Products and materials. The total market for the Dental equipments and materials is estimated to be around US$ 90 million annually. However the market in which the dental Products Division of the Corporation operates is estimated at around US$ 8 million annually.

PERFORMANCE HIGHLIGHTS:

The Dental Products division has performed well and registered an overall growth of 17% over previous year. The main product of the division, DPI Alloy has out performed other products with a growth rate of 31% over previous year and also captured 88% of the market share of Dental Alloy segment.

OUTLOOK:

The products of the division are well accepted by the market and enjoy high brand equity due to high standard of quality products backed with efficient after-sales service. During 2014-15, the Division plans to market ‘Alginate’, one of its products, under the Brand “Chromatex” as a leading Chromatic alginate brand in India and to increase the export sales two fold.

CONTINGENT LIABILITIES:

A. Sundry claims against the Corporation by employees and others not admitted (amount indeterminate). In the opinion of the management, the outcome of these claims is likely to be immaterial.

B. Disputed demands of Central Excise Department not provided for in respect of:

Particulars		31.03.2013 (Rs. In Millions)
South India Consolidation (Plantations Division)	1.412	0.147
Erstwhile Sunmica Division (Building Products Division)	372.824	372.824

C. Disputed wage demands pending with the Industrial Tribunal Rs.23.225 Millions (Previous Year Rs.23.225 Millions) in respect of South India Branches.

D. Damages and interest on alleged unauthorized occupation of residential premises determined by the Estate Officer L.I.C. up to 31st March 2014 and disputed by the Corporation Rs. 10.826 Millions (Previous Year Rs. 10.137 Millions).

E. Matters under dispute relating to Income tax in respect of the erstwhile Electromags Automotive Products Private Limited. A.Y. 2004-05 Rs. 0.523 Million, for the A.Y. 2009-10 Rs. 6.426 Millions and for A.Y. 2011-12 Rs.0.179 Million.

UNAUDITED FINANCIAL RESULTS FOR QUARTER ENDED 31^st DECEMBER,2014

PART I

(Rs. in millions)

	Particular	Three Months Ended		Year the date from 01.04.2012 to 31.12.2014
		31.12.2014	30.09.2014	31.12.2014
1.	Income from operations	Unaudited	Unaudited	Unaudited
	(a) Net Sales / Income from Operations (Net of excise duty)	508.747	598.511	1722.903
	(b) Other Operating Income	15.833	45.716	76.502
2.	Total income from operations (net)	524.579	644.227	1798.406
	Expenses
	a) Cost of materials consumed	214.192	197.256	597.368
	b) Purchases of stock-in-trade	3.110	2.528	9.121
	c) Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(54.858)	88.584	91.410
	d) Employees benefits expense	175.041	166.021	508.979
	e) Depreciation and amorisation expenses	19.616	16.866	53.287
	f) Other Expenses	157.554	157.236	498.713
	Total expenses	514.654	628.490	1758.878
3	Profit from operations before other income, finance costs and exceptional items (1-2)	9.925	15.737	39.527
4.	Other Income	42.524	36.424	109.972
5.	Profit from ordinary activities before finance costs and exceptional Items (3 + 4)	52.449	52.161	149.499
6.	Finance costs	73.270	60.337	187.347
7.	Profit from ordinary activities after finance costs but before exceptional Items (5-6)	(20.821)	(8.176)	(37.848)
8.	Exceptional Items	--	--	--
	b) Profit of EAPL for the period 1^st April, 2011 to 31^st March, 2012	--	--	--
9.	Profit from Ordinary Activities before tax (7+8)	(20.821)	(8.176)	(37.848)
	Tax expense	--	--	--
	Tax expense relating to Profit of EAPL for a period 1^st April, 2011 to 31^st March, 2012	--	--	--
	Net Profit from Ordinary Activities after tax	(20.821)	(8.176)	(37.848)
	Paid-up equity share capital (Face value of the Share - Rs.2/-)	139.544	139.544	139.544
	Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year	--	--	--
	Earnings per share (before extraordinary items) (of Rs.2/- each) (not annualised) :
	a) Basic	(0.30)	(0.12)	(0.54)
	b) Diluted	(0.30)	(0.12)	(0.54)
	Earnings per share (after extraordinary items) (of Rs.2/- each) (not annualised) :
	a) Basic	(0.30)	(0.12)	(0.54)
	b) Diluted	(0.30)	(0.12)	(0.54)

PART II

SELECT INFORMATION FOR THE QUARTER ENDED 31^st DECEMBER, 2014

	PARTICULAR	Three Months Ended		Year the date from 01.04.2012 to 31.12.2014
		31.12.2014	30.09.2014	31.12.2014
		Unaudited	Unaudited	Unaudited
A	PARTICULARS OF SHAREHOLDING
1	Public shareholding
	- No. of Shares	23786155	23786155	23786155
	Percentage of Shareholding	34.09	34.09	34.09
2	Promoters and Promoter Group Shareholding
	a) Pledged / Encumbered
	- No. of Shares	2725000	3675000	2725000
	Percentage of shares (as a % of the total shareholding of promoter and promoter group)	5.93	7.99	5.93
	Percentage of shares (as a % of the total share capital of the company)	3.91	5.27	3.91
	b) Non - encumbered
	- No. of Shares	43260745	42310745	43260745
	Percentage of shares (as a % of the total shareholding of promoter and promoter group)	94.07	92.01	94.07
	Percentage of shares (as a % of the total share capital of the company)	62.00	60.54	62.00

	Particulars	3 months ended 31.12.2014
B	INVESTOR COMPLAINTS (Nos.)
	Pending at the beginning of the quarter	-
	Received during the quarter	11
	Disposed of during the quarter	11
	Balance unresolved at the end of the quarter	-

SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED:

(Rs. in millions)

	PARTICULAR	Three Months Ended		Year the date from 01.04.2012 to 31.12.2014
		31.12.2014	30.09.2014	31.12.2014
		Unaudited	Unaudited	Unaudited
1.	Segment Revenue:
	a) Plantations	215.076	312.211	865.952
	b) Auto Electrical Components	235.968	237.271	700.716
	c) Investments	26.920	48.740	94.961
	d) Healthcare	58.732	57.484	166.246
	e) Others	14.813	13.545	41.785
	Total	551.509	669.251	1869.661
	Less: inter Segment Revenue	--	--	--
	Net Sales / Income from Operations	551.509	669.251	1869.661
2.	Segment Results:
	a) Plantations	(11.319)	(16.909)	(9.807)
	b) Auto Electrical Components	29.124	34.974	93.595
	c) Investments	26.920	48.740	94.961
	d) Healthcare	14.698	11.047	35.125
	e) Others	7.265	5.912	21.800
	Total	66.688	83.764	235.673
	Less :i) Interest	(63.934)	(60.337)	(178.011)
	ii) Other Un allocable expenditure net	(29.843)	(43.003)	(124.901)
	Add: i) Unallocable income	6.268	11.400	29.391
	Total Profit before Tax	(20.821)	(8.176)	(37.848)
3.	Capital Employed: (Segment Assets - Segment Liabilities)
	a) Plantations	1240.929	1197.265	1240.929
	b) Auto Electrical Components	553.676	492.369	553.676
	c) Investments	2553.128	2553.560	2553.128
	d) Healthcare	108.735	96.934	108.735
	e) Others	258.244	249.144	258.244
	f) Unallocated	(2129.064)	(1982.320)	(2129.064)
	Total	2585.648	2606.922	2585.648

Note :

• The above financial results have been reviewed by the Audit committee and having been recommended by it to the Board for approval, were approved by the Board at its meeting held on 03.02.2015.

• Coffee season commences from the month of November, out of the expenditure of Rs.119.253 Millions incurred for the 9 months ended December, 2014 at the coffee estates an amount of Rs.88.490 Millions has been carried forward and will be accounted against the current season’s coffee crop. The balance amount of Rs.30.763 Millions has been absorbed upto December 2014 as it relates to the crop of the earlier season.

• Pursuant to implementation of depreciation methodology as per the Companies Act 2013

• The value of assets whose useful lifes were exhausted as on April 01, 2014, aggregated to Rs. 35.505 Millions (net of defended tax). The same has been adjusted to General Reserves.

• There is no material impact on the depreciation charged for the quarter and six months ended 31.12.2014.
• 
  The Statutory Auditors of the Corporation have carried out a Limited Review of the Results for the quarter ended 31.12.2014.

FIXED ASSETS

v Tangible Assets

· Land

· Roads

· Development – Plantations

· Buildings

· Plant and Machinery

· Moulds and Dies

· Motor Vehicles and Tractors

· Office Equipments

· Furnitures and Fixtures

v Intangible Assets

· Goodwill

· Technical know – how

· 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 records 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.62.15
UK Pound	1	Rs.94.72
Euro	1	Rs.70.33

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis done by :	SUB
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		65

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.