MIRA INFORM REPORT

Report No. :	307400
Report Date :	13.02.2015

IDENTIFICATION DETAILS

Name :	KIRAN GEMS PRIVATE LIMITED
Registered Office :	FE-5011, Bharat Diamond Bourse, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.09.2007
Com. Reg. No.:	11-174133
Capital Investment / Paid-up Capital :	Rs. 317.805 Millions
CIN No.: [Company Identification No.]	U36912MH2007PTC174133
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMK17224E SRTK02242C
PAN No.: [Permanent Account No.]	AADCK1665M
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter and Importer of Polish Diamond and Diamond Jewellery
No. of Employees :	1700 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. Financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal 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 – 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	CRISIL
Rating	Long term rating A-
Rating Explanation	Adequate degree of safety. It carry low credit risk.
Date	December 11, 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.

INFORMATION PARTED BY

Name :	Mr. Rajnath Shukla
Designation :	Finance Manager
Contact No.:	91-22-40504444
Date :	10.02.2015

LOCATIONS

Registered Office/ Head Office :	FE-5011, Bharat Diamond Bourse, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-40504444
Mobile No.:	91-9702450410 (Mr. Bhavik)
Fax No.:	91-22-40504455
E-Mail :	Swaroop@Kirangems.com cancerian22515@gmail.com jagannath@kirangems.com ramrajco@vsnl.com info@kirangems.com rajnath@kirangems.com inquiry@kiranexports.net
Website :	http://www.Kirangems.com
Location :	Owned
Factory 1 :	Plot No. 9, Near Affil Tower, L. H. Road, Varachha, Surat-395006, Gujarat
Tel. No.:	91-261-2554514 / 15
Fax No.:	91-261-2552606
E-Mail :	infosurat@kirangems.com
Area :	2466.82 Square. Meters
Factory 2 :	217/218, Tarabaug Estate, Opposite Jeevan Dhara Hotel, Varachha Road, Surat-395006, Gujarat
Tel. No.:	91-261-2553983/ 84/85 / 2553983
Fax No.:	91-261-2553982 / 2653982
E-Mail :	kirunbvn@yahoo.com
Factory 3 :	Plot No. 52, Vaishali Building, Surat, Gujarat, India
Factory 4 :	Plot No 152 6^th Floor Near Sona Apartments Umiyadham Road Varachha, Surat-395006,Gujarat, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Mavjibhai Shamjibhai Patel

Designation :

Director

Address :

901, 9^th Floor, Mayfair Maaya, Maaya Jn. 9^th and 11^th Road, Khar (West), Mumbai-400052, Maharashtra, India

Date of Birth/Age :

02.03.1964

Qualification :

B.Com

Date of Appointment :

14.09.2007

DIN No.:

00147902

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	U36911MH2003PTC142557	KIRANMANI DIAMONDS PRIVATE LIMITED	Director	07/10/2003	07/10/2003	-	Active	NO
2	U65990MH2006PTC169419	KIRANMANI INVESTMENT AND FINANCE PRIVATE LIMITED (PART IX)	Director	09/03/2006	09/03/2006	-	Active	NO
3	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
4	U45201MH2007PTC173573	GRANDIOSE INFRASTRUCTURE VENTURE ENTERPRISES PRIVATE LIMITED	Director	29/07/2008	24/07/2008	-	Active	NO
5	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	23/12/2010	23/12/2010	26/09/2014	Active	NO

Name :

Mr. Vallabhbhai Shamjibhai Patel

Designation :

Director

Address :

701/702, 7^th Floor, Munshi Manor, 174/175, 9 and 10 Road, Jn. Khar (West), Mumbai-400052, Maharashtra, India

Date of Birth/Age :

16.12.1957

Qualification :

Non S.S.C

Date of Appointment :

14.09.2007

DIN No.:

00091715

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	U36911MH2003PTC142557	KIRANMANI DIAMONDS PRIVATE LIMITED	Director	07/10/2003	07/10/2003	-	Active	NO
2	U36911GJ1999PTC035270	KERUL AMIT DIAMOND PRIVATE LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
3	U65990MH2006PTC169419	KIRANMANI INVESTMENT AND FINANCE PRIVATE LIMITED (PART IX)	Director	09/03/2006	09/03/2006	-	Active	NO
4	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
5	U51398MH1984NPL033787	BHARAT DIAMOND BOURSE	Director	29/09/2008	29/09/2008	23/12/2010	Active	NO
6	U74140GJ2014NPL081370	SDB DIAMOND BOURSE	Director	28/11/2014	28/11/2014	-	Active	NO

Name :

Mr. Babubhai Shamjibhai Lakhani

Designation :

Director

Address :

A/502, Affil Tower, Lambe Hanuman Road, Varachha Road, Surat–395 006, Gujarat, India

Date of Birth/Age :

01.12.1959

Qualification :

Non S.S.C

Date of Appointment :

18.09.2007

DIN No.:

00091766

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	U36910GJ2005PTC047143	KIRAN FINE GEMS PRIVATE LIMITED	Director	25/11/2005	25/11/2005	-	Strike off	NO
2	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	18/09/2007	18/09/2007	-	Active	NO
3	U85100DL2014NPL268973	SAMAST PATIDAR AAROGYA FOUNDATION	Director	17/07/2014	17/07/2014	-	Active	NO
4	U91110GJ2000NPL039065	GUJARAT HIRA BOURSE	Director	28/09/2014	28/09/2014	-	Active	NO

Name :

Mr. Labhubhai Shamjibhai Lakhani

Designation :

Director

Address :

7, Street No.1, Yogeshwar Society, Anantwadi, Devubaug, Bhavnagar – 364 001, Gujarat, India

Date of Birth/Age :

04.07.1951

Qualification :

Non S.S.C

Date of Appointment :

18.09.2007

DIN No.:

01807301

Name :

Mr. Dinesh Mavjibhai Lakhani

Designation :

Director

Address :

501, Manju Castle Co-Operative Housing Society, Near St. Xavier Road, Vile Parle (West), Mumbai-400056, Maharashtra, India

Date of Birth/Age :

22.01.1978

Qualification :

H.S.C

Date of Appointment :

18.09.2007

DIN No.:

01833349

Name :

Mr. Rajesh Labhubhai Lakhani

Designation :

Director

Address :

R. No.-51, 5^th Floor, Sea View Building, Near Ramkrishna Mission, West Avenue Road, Santacruz (West), Mumbai-400054, Maharashtra, India

Date of Appointment :

25.08.2014

DIN No.:

06950687

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	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	30/09/2014	25/08/2014	-	Active	NO

Name :

Kalpesh Vallabhbhai Patel

Designation :

Director

Address :

701, Munshi Manor Building, Junc Of 9^th And 10^th Road Khar (West), Mumbai-400052, Maharashtra, India

Date of Appointment :

25.08.2014

DIN No.:

06950929

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	U36912MH2007PTC174133	KIRAN GEMS PRIVATE LIMITED	Director	30/09/2014	25/08/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Chhaya Lairam Lakhani
Designation :	Secretary
Address :	601, A-41, Sector – 1, Harsh Vihar Chs, Shanti Nagar, Mira Road (East), Thane – 401107, Maharashtra, India
Date of Appointment :	28.03.2013
PAN No.:	ADQPL3398H
Name :	Mr. Rajnath Shukla
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Vallabhbhai Shamjibhai Patel/Lakhani	4764274
Mavjibhai Shamjibhai Patel/Lakhani	5350781
Babubhai Shamjibhai Patel/Lakhani	100000
Laxmiben Vallabhbhai Patel/Lakhani	500000
Rasilaben Mavjibhai Patel/Lakhani	500000
Varshaben Babubhai Patel/Lakhani	50000
Devkunverben Labubhai Patel/Lakhani	300000
Labhubhai Shamjibhai Patel/Lakhani	800000
Kalpesh Vallabhbhai Patel	1522495
Munjal Mavjibhai Lakhani	935984
Varun Babubhai Lakhani	621610
Dinesh Mavjibhai Lakhani	950000
Ashishkumar Lakhani	3132460
Rajesh Labhubhai Lakhani	252857
Total	19780461

Names of Preference Shareholders	No. of Shares
Varun Babubhai Lakhani	800000
Ashishkumar Lakhani	3147809
Total	3947809

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Exporter and Importer of Polish Diamond and Diamond Jewellery

Products :

Item Code No. (ITC Code)	Product Description
71023910	Diamonds, weather not worked, but not mounted or set

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

· Polish Diamond

· Diamond Jewellery

Countries :

· Hong Kong

· USA

· Germany

Imports :

Products :

· Polish Diamond

· Diamond Jewellery

Countries :

· Belgium

· UK

Terms :

Selling :

Cash, Credit

Purchasing :

Cash, Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Dr. Beers Diamond Jewellers, UK
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

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

Customers :

Wholesalers, Retailers and End Users

Reference :	Sterling Jewellers Inc, USA
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

1700 (Approximately)

Bankers :

Banker Name :	State Bank of India
Branch Address :	1^st Floor, Majestic Shopping Centre, 144, JSS Marg, Girgaum, Mumbai-400004, Maharashtra, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	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

Banker Name :	ICICI Bank Limited
Branch Address :	Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India
Facilities :	Not Divulged
Person Name :	Not Divulged
Contact No.:	Not Divulged
Report :	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 Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Term loans from banks	8521.213	7224.799
Foreign currency term loans from banks	7325.689	6239.805
Total	15846.902	13464.604

Auditors :
Name :	Ramesh Rajni and Company Chartered Accountants
Address :	450, Lamington Road, Purshotam Building 1st Floor, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23669708/ 23669709/ 23618386
Fax No.:	91-22-23631810
E-Mail :	ramrajco@vsnl.com
PAN No.:	AAFFR7782K
Memberships :	Not Available
Collaborators :	Not Available
Fellow Subsidiary Company :	· Kiran Jewels Inc. · Kiran Jewels LLC · Kiran Jewels (India) · Kiran Exports BVBA · Kiran Jewelry · Unique Design Inc. · SDIL Inc. · Kiran Design, United States · Kiran Exports (Hong Kong) Limited
Subsidiary Company :	Kiran Wind Energy Private Limited CIN No.: U40107MH2013PTC242283 Kiranmani Diamonds Private Limited CIN No.: U36911MH2003PTC142557
Associates :	International Diamond Distribuyion Inc.
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Kiranmani Investment and Finance Private Limited (Part IX) CIN No.: U65990MH2006PTC169419

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25,000,000	Equity Shares	Rs.10/- each	Rs.250.000 millions
4,500,000	Preference Shares	Rs.100/- each	Rs.450.000 millions
	Total		Rs.700.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19,780,461	Equity Shares	Rs.10/- each	Rs.197.805 millions
3,947,809	Preference Shares	Rs.100/- each	Rs.394.781 millions
	Total		Rs.592.586 millions

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions
45000000	Preference Shares	Rs.10/- each	Rs.450.000 Millions
	Total		Rs.700.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19780461	Equity Share	Rs.10/- each	Rs.197.805 Millions
1200000	Preference Share	Rs.100/- each	Rs.120.000 Millions
	Total		Rs.317.805 Millions

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	317.805	283.956	266.417
(b) Reserves & Surplus	10188.934	7467.729	5788.156
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	2747.809	1192.412	0.000
Total Shareholders’ Funds (1) + (2)	13254.548	8944.097	6054.573
(3) Non-Current Liabilities
(a) long-term borrowings	1033.658	1033.658	1271.664
(b) Deferred tax liabilities (Net)	98.811	45.905	35.057
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	10.051	7.820	9.726
Total Non-current Liabilities (3)	1142.520	1087.383	1316.447
(4) Current Liabilities
(a) Short term borrowings	15846.902	13464.604	9435.357
(b) Trade payables	7785.587	6518.450	5001.789
(c) Other current liabilities	114.075	78.955	160.985
(d) Short-term provisions	50.063	54.649	66.793
Total Current Liabilities (4)	23796.627	20116.658	14664.924
TOTAL	38193.695	30148.138	22035.944
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3379.735	2704.658	2040.786
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	86.750	195.631	105.308
(iv) Intangible assets under development	2.384	1.282	0.938
(b) Non-current Investments	39.734	38.439	37.119
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	282.257	226.163	120.624
(e) Other Non-current assets	1.007	1.007	1.007
Total Non-Current Assets	3791.867	3167.180	2305.782
(2) Current assets
(a) Current investments	0.000	0.000	4.500
(b) Inventories	19025.651	14407.709	9755.827
(c) Trade receivables	14308.088	11704.408	8777.821
(d) Cash and cash equivalents	325.070	424.797	531.710
(e) Short-term loans and advances	198.958	128.042	441.168
(f) Other current assets	544.061	316.002	219.136
Total Current Assets	34401.828	26980.958	19730.162
TOTAL	38193.695	30148.138	22035.944

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	58869.041	46219.227	38906.204
		Other Income	47.120	146.760	59.878
		TOTAL (A)	58916.161	46365.987	38966.082
Less	EXPENSES
		Other Expenses	55691.456	43742.848	37125.816
		Exceptional Items	11.242	35.437	0.000
		TOTAL (B)	55702.698	43778.285	37125.816
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3213.463	2587.702	1840.266
Less	FINANCIAL EXPENSES (D)		1133.724	958.082	526.420
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2079.739	1629.620	1313.846
Less/ Add	DEPRECIATION/ AMORTISATION (F)		308.728	256.716	194.487
	PROFIT BEFORE TAX (E-F) (G)		1771.011	1372.904	1119.359
Less	TAX (H)		615.629	425.793	352.160
	PROFIT AFTER TAX (G-H) (I)		1155.382	947.111	767.199
	Earnings Per Share (Rs.)		3.64	--	--

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.96	2.05	1.97
Operating Profit Margin (PBDIT/Sales)	(%)	5.46	5.60	4.73
Return on Total Assets (PBT/Total Assets}	(%)	4.65	4.59	5.11
Return on Investment (ROI) (PBT/Networth)		0.13	0.15	0.18
Debt Equity Ratio (Total Debt /Networth)		1.27	1.62	1.77
Current Ratio (Current Asset/Current Liability)		1.45	1.34	1.35

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	266.417	283.956	317.805
Reserves & Surplus	5788.156	7467.729	10188.934
Net worth	6054.573	7751.685	10506.739
long-term borrowings	1271.664	1033.658	1033.658
Short term borrowings	9435.357	13464.604	15846.902
Total borrowings	10707.021	14498.262	16880.560
Debt/Equity ratio	1.768	1.870	1.607

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	38906.204	46219.227	58869.041
		18.797	27.369

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	38906.204	46219.227	58869.041
Profit	767.199	947.111	1155.382
	1.97%	2.05%	1.96%

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	Yes
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	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes

Note: The registered office of the company has been shifted from 109, Prasad Chambers, Opera House, Mumbai - 400004, Maharashtra, India to the present address w.e.f. 02.09.2011

(Rs. In Millions)

UNSECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Rupee term loans from banks	0.000	1033.658
Loans and advances from related parties	1033.658	0.000
Total	1033.658	1033.658

OPERATIONS/ WORKING RESULTS

During the year, the Company has recorded Revenue from Sales of Rs. 58869.041 Millions as compared to the Sales of Rs. 46219.226 Millions and also earned Other Income of Rs. 47.120 Millions as compared to that of Rs. 146.760 Millions for the corresponding previous year.

The Company has earned net profit to the tune of Rs. 1062.641 Millions as compared to profit earned of Rs. 947.111 Millions in respect of the corresponding previous year, after making provision for taxation and deferred tax adjustment.

During the year the company has sold 2 no. of wind mill installed in Tamil Nadu state to its subsidiary by way of slum sale vide agreement dated

9^th July, 2013 for a total sales consideration of Rs. 88.338 Millions These two units are part of a wind mill power division business segment. These units are distinguishable operationally and financially for internal reporting purpose.

Barring unforeseen circumstances, further improvement in sale and profitability is expected in the current year in view of continued efforts being made. Further the company is taking effective steps to strengthen the profitability and financial soundness of the Company.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10533686	05/11/2014	1,460,000,000.00	State Bank of India	Diamond Branch, D-3,West Core,, Bharat Diamond Bourse, Bandra Kurla Complex,, MUMBAI, Maharashtra - 400051, INDIA	C35252709
2	10520184	05/09/2014	300,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	C20838306
3	10319110	11/11/2011	1,000,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	B25841834
4	10069794	27/12/2013 *	19,750,000,000.00	STATE BANK OF INDIA	DIAMOND BRANCH,D-3,WEST CORE,BHARAT DIAMOND BOURSE  , BANDRA KURLA COMPLEX, BANDRA (EAST),, MUMBAI, Maharashtra - 400051, INDIA	B94018405

* Date of charge modification

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.62.43
UK Pound	1	Rs.95.01
Euro	1	Rs.70.63

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.