MIRA INFORM REPORT

Report No. :	307995
Report Date :	16.02.2015

IDENTIFICATION DETAILS

Name :	UNIQUE GREEN ENERGY TECHNOLOGIES PRIVATE LIMITED
Registered Office :	No.9/A, Municipal No. 7-1-397/104, Flat No.102, J.S.R.V Plaza, Sanjeeva Reddy Nagar, Hyderabad – 500038, Telangana
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.02.2011
Com. Reg. No.:	072884
Capital Investment / Paid-up Capital :	Rs. 105.000 Millions
CIN No.: [Company Identification No.]	U31500TG2011PTC072884
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCU2727J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Amorphous Cores which are used in the Electrical Transformer Industry.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Reserves of the company seem to be low during 2014. However, general financial position of the company seems to be decent. The rating also takes into consideration established long track record of the promoters in the business. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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	CARE Rating
Rating	Long term Bank facilities = BBB+ (SO)
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	November 10, 2014

Rating Agency Name	CARE Rating
Rating	Short term Bank facilities = A2 (SO)
Rating Explanation	Have strong degree of safety and carry low credit risk.
Date	November 10, 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 :	No.9/A, Municipal No. 7-1-397/104, Flat No.102, J.S.R.V Plaza, Sanjeeva Reddy Nagar, Hyderabad – 500038, Telangana, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	jeereddy@hotmail.com
Factory :	Survey No. 83, Kachanahalli Village, Kasab Hobli, Nelamangala Taluk, Bangalore – 562123, Karnataka, India
Tel. No.:	91-80-27733777
Fax No.:	91-80-27733776

DIRECTORS

AS ON 06.06.2014

Name :

Narreddy Visweswara Reddy

Designation :

Director

Address :

1-441-14, Maruthi Nagar, Kadapa - 516001, Andhra Pradesh, India

Date of Appointment :

24.02.2011

PAN No.:

ABKFS0170J

DIN No.:

02996298

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	U31200TG2004PTC042638	SHIRDI SAI TRANSFORMERS PRIVATE LIMITED	Director	12/02/2004	12/02/2004	-	Active	NO
2	U31401TG2010PLC069777	SHIRDI SAI ELECTRICALS LIMITED	Managing director	30/07/2010	30/07/2010	-	Active	NO
3	U31500TG2011PTC072884	UNIQUE GREEN ENERGY TECHNOLOGIES PRIVATE LIMITED	Director	24/02/2011	24/02/2011	-	Active	NO
4	U40102TG2010PTC070322	LATITUDE POWER PRIVATE LIMITED	Director	15/07/2013	28/06/2013	12/02/2014	Active	NO

Name :

Narreddy Reddy Radha

Designation :

Director

Address :

1-441-14, Maruthi Nagar, Kadapa - 516001, Andhra Pradesh, India

Date of Appointment :

24.02.2011

PAN No.:

ABEPN0817H

DIN No.:

02996305

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U31401TG2010PLC069777	SHIRDI SAI ELECTRICALS LIMITED	Director	30/07/2010	30/07/2010	Active	NO
2	U31500TG2011PTC072884	UNIQUE GREEN ENERGY TECHNOLOGIES PRIVATE LIMITED	Director	24/02/2011	24/02/2011	Active	NO

Name :

Narreddy Karunakara Reddy

Designation :

Director

Address :

1-441-14, Maruthi Nagar, Kadapa - 516001, Andhra Pradesh, India

Date of Appointment :

24.02.2011

PAN No.:

ADHPN9963D

DIN No.:

02996309

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U31200TG2004PTC042638	SHIRDI SAI TRANSFORMERS PRIVATE LIMITED	Director	12/02/2004	12/02/2004	Active	NO
2	U31401TG2010PLC069777	SHIRDI SAI ELECTRICALS LIMITED	Director	30/07/2010	30/07/2010	Active	NO
3	U31500TG2011PTC072884	UNIQUE GREEN ENERGY TECHNOLOGIES PRIVATE LIMITED	Director	24/02/2011	24/02/2011	Active	NO

Name :

Reddi Bhaskar Chillecampalli

Designation :

Director

Address :

Venkatadri Residency, Kadapa - 516001, Andhra Pradesh, India

Date of Birth/Age :

13.07.1967

Date of Appointment :

09.04.2011

PAN No.:

ABTPC8479K

DIN No.:

03445313

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 06.06.2014

Names of Shareholders	No. of Shares	Percentage of Holding
N. Visweswara Reddy	500000	4.76
N. Karunakara Reddy	2500000	23.81
N. Reddy Radha	6500000	61.90
C. Reddy Bhaskar	900000	8.57
J. Sujatha	100000	0.95
Total	10500000	100.00

AS ON 06.06.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Amorphous Cores which are used in the Electrical Transformer Industry.

Products/ Services :

ITC Code No.	Product Descriptions
99887510	Amorphous Cores

Brand Names :

--

Agencies Held :

--

Exports :

Products :

--

Countries :

--

Imports :

Products :

--

Countries :

--

Terms :

Selling :

--

Purchasing :

--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

Customers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

No. of Employees :

Not Available

Bankers :

Bank Name:	Not Available
Branch:	Not Available
Person Name (with Designation):	Not Available
Contact Number:	Not Available
Name of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year of A/c Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Available
Account Operation:	Not Available
Remarks: Not Available

· State Bank of India

Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Rupee term loans from banks	53.482	66.060
SHORT TERM BORROWINGS
Loans repayable on demand from banks	67.383	67.697
Total	120.865	133.757

Banking Relations :	--
Auditors :
Name :	Reddy and Kumar Chartered Accountants
Address :	B - 27, View Towers, Lakdikapul, Hyderabad, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AAFFR0484E
Related Parties :	· Shirdi Sai Electricals Limited [U31401TG2010PLC069777] Universal Electro Magnetic Cores Shirdi Sai Cables and Conductors

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Shares	Rs. 10/- each	Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,500,000	Equity Shares	Rs. 10/- each	Rs. 105.000 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	105.000	105.000	105.000
(b) Reserves & Surplus	16.681	4.700	(2.137)
(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)	121.681	109.700	102.863
(3) Non-Current Liabilities
(a) Long-term borrowings	53.482	66.060	82.402
(b) Deferred tax liabilities (Net)	5.290	4.641	3.788
(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)	58.772	70.701	86.190
(4) Current Liabilities
(a) Short term borrowings	68.883	69.197	70.879
(b) Trade payables	13.448	39.252	59.534
(c) Other current liabilities	20.806	18.271	3.380
(d) Short-term provisions	3.127	5.076	3.484
Total Current Liabilities (4)	106.264	131.796	137.277
TOTAL	286.717	312.197	326.330
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	127.144	133.192	125.102
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	127.144	133.192	125.102
(2) Current assets
(a) Current investments	0.000	0.000	9.400
(b) Inventories	74.968	10.323	81.784
(c) Trade receivables	21.746	116.831	50.901
(d) Cash and cash equivalents	16.042	12.306	6.490
(e) Short-term loans and advances	40.814	33.124	47.758
(f) Other current assets	6.003	6.421	4.895
Total Current Assets	159.573	179.005	201.228
TOTAL	286.717	312.197	326.330

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL (A)	345.260	419.524	119.994
Less	EXPENSES
		TOTAL (B)	297.916	377.080	101.137
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		47.344	42.444	18.857
Less	FINANCIAL EXPENSES (D)		25.317	26.636	14.090
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		22.027	15.808	4.767
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.068	6.337	2.702
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		15.959	9.471	2.065
Less	TAX (H)		3.979	2.612	4.202
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		11.980	6.859	(2.137)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.722	(2.137)	0.000
	BALANCE CARRIED TO THE B/S		16.702	4.722	(2.137)
	Earnings/ (Loss) Per Share (Rs.)		1.14	0.65	(0.20)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	5.57	3.03	0.63
Return on Investment (ROI) (PBT/Networth)		0.13	0.09	0.02
Debt Equity Ratio (Total Debt/Networth)		1.01	1.23	1.49
Current Ratio (Current Asset/Current Liability)		1.50	1.36	1.47

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	105.000	105.000	105.000
Reserves & Surplus	(2.137)	4.700	16.681
Net worth	102.863	109.700	121.681
Long-term borrowings	82.402	66.060	53.482
Short term borrowings	70.879	69.197	68.883
Total borrowings	153.281	135.257	122.365
Debt/Equity ratio	1.490	1.233	1.006

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)
Total Income	119.994	419.524	345.260
		249.621	(17.702)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	119.994	419.524	345.260
Profit/ (Loss)	(2.137)	6.859	11.980
	(1.78%)	1.63%	3.47%

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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10305278	09/12/2013 *	270,100,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA	B95006904

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Other loans and advances	1.500	1.500
Total	1.500	1.500

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from F-10, Industrial Development Park, Chinna Chouk, Cuddapah, Hyderabad – 516004, Andhra Pradesh, India to the present address w.e.f.25.03.2011.

CORPORATE INFORMATION

The company (herein after referred to as UGET) was incorporated on 24th day of February, 2011 under the Companies Act 1956. The principle activity of the company is the manufacture of Amorphous Cores which are used in the electrical transformer industry.

OPERATING RESULTS AND BUSINESS:

REVIEW OF PERFORMANCE

The company has reported a total turnover of Rs. 345.260 Millions for the financial year ending 31 March 2014. Amorphous presently being used by the Company in the manufacture of cores reduces no-load losses of transformer and increases the energy efficiency of the said transformers. In view of this the Directors expect bright prospects in the future and expect the company to achieve the anticipated turnover during the current year.

FIXED ASSETS:

· Land

Plant and equipment

Factory equipments

Furniture and fixtures

Office equipment

Computer equipments

Other equipments

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. 62.14
UK Pound	1	Rs. 95.78
Euro	1	Rs. 71.05

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.