MIRA INFORM REPORT

Report Date :

02.01.2015

IDENTIFICATION DETAILS

Name :	PARASAKTI CEMENT INDUSTRIES LIMITED (w.e.f. 10.02.2003)
Formerly Known As :	CHOLA CEMENT INDUSTRIES LIMITED (w.e.f. 13.09.2001) CHOLA CEMENT LIMITED
Registered Office :	Plot # 8-3-214/21, Srinivasa Nagar Colony (West), Hyderabad – 500 038, Andhra Pradesh
Country :	India
Financials (as on) :	30.09.2014
Date of Incorporation :	14.05.1993
Com. Reg. No.:	01-015764
Capital Investment / Paid-up Capital :	Rs.264.000 millions
CIN No.: [Company Identification No.]	U26942AP1993PLC015764
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCC4801D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the manufacturing and selling of cement.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established having moderate track record. The rating is constrained on account of loss incurred by the company during FY 2014. However, trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term loans (BBB-)
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	February 2014

Rating Agency Name	ICRA
Rating	Non fund based limits (A3)
Rating Explanation	Moderate degree of safety. It carry higher credit risk
Date	February 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. KKV Prasad
Designation :	Accounts Manager
Contact No.:	91-9949470507
Date :	26.12.2014

LOCATIONS

Registered Office :	Plot # 8-3-214/21, Srinivasa Nagar Colony (West), Hyderabad – 500 038, Andhra Pradesh
Tel. No.:	91-40-44119100/ 200/ 23745361
Mobile No.:	91-9949470507 (Mr. Prasad)
Fax No.:	91-40-44119199/ 23747562
E-Mail :	info@parasakticement.com cs@parasakticement.com
Website :	http://parasakticement.com
Area :	4000 sq. ft.
Location :	Rented
Head Office :	Jettipalem (V & P) - 522 421, Rentachintala (Mandal), Guntur (District), Andhra Pradesh, India
Tel. No.:	91-863-2344600
Fax No.:	91-863-2344600
E-Mail :	works@parasakticement.com
Area :	700 acres
Location :	Owned
Marketing Branch Offices :	Located at: · Guntur · Vijaywada · Ongole · Tirupati · Kurnool · Nalgonda · Rajahmundry · Visakhapatanam · Katpadi · Chennai · Bangalore

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Munikrishna Papagari

Designation :

Managing Director

Address :

H. No.8-2-293/82/JIII/392, Plot No.392, Phase-III, Road No.81, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India

Date of Birth/Age :

01.02.1944

Qualification :

B.E.

Experience :

46 Years

Date of Appointment :

18.12.2000

PAN No.:

ADFPP2190L

DIN No.:

00011580

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	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	10/02/1992	10/02/1992	-	Active	NO
2	U65993AP1995PTC022421	SUBHADRA INVESTMENTS PRIVATE LIMITED	Director	29/11/1995	29/11/1995	-	Active	NO
3	U17110AP1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Managing director	01/04/2011	24/07/1996	-	Active	NO
4	U51909AP1998PLC029396	REITZ INDIA LIMITED	Director	13/05/1998	13/05/1998	-	Active	NO
5	U26942AP1978PLC002288	RAASI CEMENT LIMITED	Director	04/06/1998	04/06/1998	15/03/2008	Active	NO
6	U72200AP1998PTC029812	POINTSOFT PRIVATE LIMITED	Director	23/07/1998	23/07/1998	19/09/2007	Active	NO
7	U01122AP1992PTC014781	SHREE SAI GARDENS PRIVATE LIMITED	Director	25/08/1999	25/08/1999	-	Active	NO
8	U99999AP1999PTC031624	MYK LATICRETE INDIA PRIVATE LIMITED	Director	21/10/1999	21/10/1999	-	Active	NO
9	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Managing director	18/12/2000	18/12/2000	-	Active	NO
10	U24114AP2006PTC050128	MYK SCHOMBURG INDIA PRIVATE LIMITED	Director	16/05/2006	16/05/2006	-	Active	NO
11	U65990AP2008PTC061323	MYK HOLDINGS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	-	Active	NO

Name :

Mr. Yashwanth Krishna Papagari

Designation :

Whole-Time Director

Address :

Flat No.2E, H.No.8-2-415/1-5, Road No.4, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Date of Birth/Age :

24.10.1976

Qualification :

Graduate

Date of Appointment :

29.06.2009

PAN No.:

AJXPP5472H

DIN No.:

00018320

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	U74210AP1995PTC022179	MYK ENGINEERING PRIVATE LIMITED	Director	29/09/1998	29/09/1998	21/09/2009	Active	NO
2	U72200AP1998PTC029812	POINTSOFT PRIVATE LIMITED	Director	12/01/2004	12/01/2004	19/09/2007	Active	NO
3	U14106AP2000PLC035749	TURBO CEMENT LIMITED	Director	29/03/2005	29/03/2005	-	Active	NO
4	U74210AP1992PTC014782	TURBOVENT INDUSTRIES PRIVATE LIMITED	Managing director	26/08/2006	26/08/2006	-	Active	NO
5	U17110AP1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Director	29/09/2006	29/09/2006	-	Active	NO
6	U65993AP1995PTC022421	SUBHADRA INVESTMENTS PRIVATE LIMITED	Director	29/09/2006	29/09/2006	-	Active	NO
7	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Whole-time director	29/06/2009	29/09/2006	-	Active	NO
8	U65990AP2008PTC061323	MYK HOLDINGS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	-	Active	NO
9	U29253AP2009PTC065731	TURBOLARON INDUSTRIES (INDIA) PRIVATE LIMITED	Director	09/11/2009	09/11/2009	-	Active	NO
10	U29253AP2010PTC066932	TURBO ROTOLOK INDUSTRIES (INDIA) PRIVATE LIMITED	Director	05/02/2010	05/02/2010	-	Active	NO
11	U29199AP2012PTC083528	TURBOKOPAR INDUSTRIES INDIA PRIVATE LIMITED	Director	10/10/2012	10/10/2012	-	Active	NO

Name :

Mr. Muralidhar Yadama

Designation :

Director

Address :

A/4, Trendset Ville, Road No.3, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Date of Birth/Age :

16.04.1972

Qualification :

Graduate

Date of Appointment :

30.09.2005

DIN No.:

00034952

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	U72200AP1998PTC029812	POINTSOFT PRIVATE LIMITED	Director	23/07/1998	23/07/1998	19/09/2007	Active	NO
2	U99999AP1999PTC031624	MYK LATICRETE INDIA PRIVATE LIMITED	Managing director	04/05/1999	04/05/1999	-	Active	NO
3	U40101AP2001PTC036228	PARUSHNI POWER PRIVATE LIMITED	Director	15/02/2001	15/02/2001	-	Active	NO
4	U51909AP1998PLC029396	REITZ INDIA LIMITED	Director	31/03/2001	31/03/2001	-	Active	NO
5	U17110AP1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Director	25/08/2003	25/08/2003	-	Active	NO
6	U28999AP2004PTC043454	BEMCI INDUSTRIES PRIVATE LIMITED	Director	10/06/2004	10/06/2004	-	Active	NO
7	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	30/09/2005	05/05/2005	-	Active	NO
8	U24110AP2006PTC049719	MYK INDUSTRIES PRIVATE LIMITED	Director	04/04/2006	04/04/2006	-	Active	NO
9	U24114AP2006PTC050128	MYK SCHOMBURG INDIA PRIVATE LIMITED	Director	16/05/2006	16/05/2006	-	Active	NO
10	U65990AP2008PTC061323	MYK HOLDINGS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	-	Active	NO
11	U24299AP2010PTC068258	MYK CEMENT PRIVATE LIMITED	Director	04/05/2010	04/05/2010	-	Active	NO
12	U74120AP2011PTC074666	PRO-TEAM BUILDING SYSTEMS (INDIA) PRIVATE LIMITED	Director	25/05/2011	25/05/2011	-	Active	NO
13	U29100AP2011PTC074919	MYK TOOLS PRIVATE LIMITED	Director	09/06/2011	09/06/2011	-	Active	NO
14	U51909WB2010PTC149734	TOP CLASS VINIMAY PRIVATE LIMITED	Director	20/03/2012	20/03/2012	28/03/2012	Active	NO
15	U40106DL2012PTC236615	SUGANDHA POWER INFRATECH PRIVATE LIMITED	Director	29/05/2012	29/05/2012	-	Strike off	NO
16	U40300AP2012PTC084712	VAIBHAV JYOTI POWER UTILITY SERVICES PRIVATE LIMITED	Director	10/12/2012	10/12/2012	-	Active	NO
17	U40300AP2013PTC086322	SUGANDHA POWER INFRASTRUCTURE PRIVATE LIMITED	Director	14/03/2013	14/03/2013	-	Active	NO

Name :

Mr. Prathap Reddy Puttamreddy

Designation :

Director

Address :

8-2-309/M/1, Road No.14, Navodaya Colony, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Date of Birth/Age :

06.04.1958

Date of Appointment :

18.12.2000

DIN No.:

00093176

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	U65990AP1986PLC006362	P R CEMENT HOLDIINGS LIMITED	Director	07/04/1986	07/04/1986	-	Active	NO
2	U45200AP1989PLC010055	PIONEER HOLIDAY RESORRTS LIMITED	Director	26/05/1989	26/05/1989	-	Active	NO
3	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Managing director	01/09/2012	24/10/1991	-	Active	NO
4	U40109AP1995PLC019352	TRIDENT POWER SYSTEMS LIMITED	Director	29/08/1997	29/08/1997	21/11/2011	Active	NO
5	U23209AP1998PLC028777	PIONEER REFINERY LIMITED	Director	22/01/1998	22/01/1998	18/10/2010	Active	NO
6	U40109AP1997PLC027846	SRIBA INDUSTTRIES LIMITED	Director	29/09/1999	29/09/1999	10/10/2010	Active	NO
7	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	18/12/2000	18/12/2000	-	Active	NO
8	U40109AP2001PLC038231	PIONEER GENCO LIMITED	Director	19/12/2001	19/12/2001	-	Active	NO
9	U40109AP2002PLC039289	PIONEER POWER CORPORATION LIMITED	Director	11/07/2002	11/07/2002	-	Active	NO
10	U40100AP1998PLC030368	PIONEER POWER LIMITED	Director	29/06/2012	05/09/2002	-	Active	NO
11	U24111AP1988PLC009231	ANDHRA PRADESH GAS POWER CORPORATION LIMITED	Director	23/12/2002	23/12/2002	-	Active	NO
12	U40101HP1994PLC014180	OM HYDROPOWER LIMITED	Director	08/09/2004	08/09/2004	29/06/2012	Active	NO
13	U45200AP2004PLC044828	PIONEER BUILDERRS LIMITED	Director	29/06/2012	09/12/2004	-	Active	NO
14	U60231AP2006PLC048786	P R ENERRGY HOLDING LIMITED	Director	16/01/2006	16/01/2006	29/06/2012	Active	NO
15	U27100AP2008PLC062127	PENNA STEELS LIMITED	Director	08/12/2008	08/12/2008	25/10/2010	Active	NO
16	U74999AP2007PLC053278	ANRAK ALUMINIUM LIMITED	Director	30/09/2010	03/12/2009	-	Active	NO
17	U26941AP2010PLC070651	PIONEER CEMENT INDUSTRIES LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
18	U45209AP2010PLC070693	ANRAK SEAPORTSS LIMITED	Director	04/10/2010	04/10/2010	-	Active	NO
19	U40300AP2012PLC084566	PIONEER JK HYDROPOWER LIMITED	Director	04/12/2012	04/12/2012	-	Active	NO

Name :

Mr. Sanka Ganapathi Rao

Designation :

Director

Address :

206, Sneha Enclave, 1144, Srinagar Colony, Hyderabad – 500 073, Andhra Pradesh, India

Date of Birth/Age :

08.02.1957

Date of Appointment :

29.09.2012

DIN No.:

00093579

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	U40109AP2002PLC039289	PIONEER POWER CORPORATION LIMITED	Director	11/07/2002	11/07/2002	-	Active	NO
2	U40100AP1998PLC030368	PIONEER POWER LIMITED	Director	19/05/2006	19/05/2006	-	Active	NO
3	U01134AP1966PLC001134	PENNA TANDUR CEMENT COMPANY LIMITED	Director	27/11/2006	27/11/2006	-	Amalgamated	NO
4	U74999AP2007PLC053278	ANRAK ALUMINIUM LIMITED	Whole-time director	01/04/2012	30/06/2008	-	Active	NO
5	U45209AP2010PLC070693	ANRAK SEAPORTSS LIMITED	Director	04/10/2010	04/10/2010	-	Active	NO
6	U26942AP1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	29/09/2012	07/09/2012	-	Active	NO

Name :

Mr. Puttamreddy Venugopal Reddy

Designation :

Director

Address :

Plot No.702, Sriniketan Colony, Road 3, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Date of Birth/Age :

17.04.1953

Date of Appointment :

01.01.2001

DIN No.:

00094146

Name :

Mr. Saumya Chaudhuri

Designation :

Nominee Director

Address :

B/212nd Maker Kundan, Juhu Tara Road, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

19.12.1969

Date of Appointment :

29.04.2011

DIN No.:

03559925

KEY EXECUTIVES

Name :	Mr. KKV Prasad
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Sashi Krishna Papagari	2434700
Munikrishna Papagari	1232800
Muralidhar Yadama	300700
Kirthi Krishna Yadama	16300
Subhadra Investments Private Limited, India	9197000
Yashwanth Krishna Papagari	18500
Penna Cement Industries Limited, India	13200000
Total	26400000

Equity Share Break up (Percentage of Total Equity)

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	84.84
Directors or relatives of directors	15.16
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the Manufacturing and Selling of Cement.
Products :	v Cement
Brand Names :	PARASAKTI
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
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 :

Reference :	Not Divulged
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 :

Not Divulged

Bankers :

Banker Name	State Bank of India
Branch Address	Industrial Finance Branch, Raj Bhavan Road, Hyderabad – 500082, Andhra Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term loans from banks	0.000	87.166
SHORT TERM BORROWINGS
Loans repayable on demand from banks	328.422	219.987
Total	328.422	307.153

Auditors :
Name :	C. Ramachandram and Company Chartered Accountants
Address :	3-6-237, 606, Lingapur La Builde Complex, Himayat Nagar, Hyderabad – 500 029, Andhra Pradesh, India
PAN No.:	AABFC4266H
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
27000000	Equity Shares	Rs.10/- each	Rs.270.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
26400000	Equity Shares	Rs.10/- each	Rs.264.000 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	264.000	264.000	264.000
(b) Reserves & Surplus	877.748	926.825	884.345
(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)	1141.748	1190.825	1148.345
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	87.166	297.500
(b) Deferred tax liabilities (Net)	295.862	323.789	320.760
(c) Other long term liabilities	1139.830	1091.464	1096.145
(d) long-term provisions	21.452	17.975	13.632
Total Non-current Liabilities (3)	1457.144	1520.394	1728.037
(4) Current Liabilities
(a) Short term borrowings	328.422	219.987	200.196
(b) Trade payables	395.493	289.035	135.555
(c) Other current liabilities	223.081	282.410	294.580
(d) Short-term provisions	5.100	63.385	101.650
Total Current Liabilities (4)	952.096	854.817	731.981
TOTAL	3550.988	3566.036	3608.363
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2324.590	2437.289	2525.167
(ii) Intangible Assets	1.468	2.953	0.000
(iii) Capital work-in-progress	0.000	36.448	48.804
(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	96.471	96.908	71.966
Total Non-Current Assets	2422.529	2573.598	2645.937
(2) Current assets
(a) Current investments		0.000	0.000
(b) Inventories	454.894	354.150	260.101
(c) Trade receivables	296.386	347.066	229.220
(d) Cash and cash equivalents	74.288	96.257	216.835
(e) Short-term loans and advances	9.967	13.485	56.603
(f) Other current assets	292.924	181.480	199.667
Total Current Assets	1128.459	992.438	962.426
TOTAL	3550.988	3566.036	3608.363

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	3084.070	3767.043	3931.098
		Other Income	17.826	12.902	8.609
		TOTAL	3101.896	3779.945	3939.707
Less	EXPENSES
		Cost of Materials Consumed	357.496	385.987	400.208
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(80.558)	(54.984)	49.288
		Employees benefits expense	172.388	177.124	147.942
		Expenditure on production	40.389	46.312	0.000
		Other expenses	2454.232	2859.759	2560.356
		TOTAL (B)	2943.947	3414.198	3157.794
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		157.949	365.747	781.913
Less	FINANCIAL EXPENSES		81.903	93.973	130.936
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		76.046	271.774	650.977
Less/ Add	DEPRECIATION/ AMORTISATION		153.050	150.548	149.552
	PROFIT/LOSS BEFORE TAX		(77.004)	121.226	501.425
Less	TAX		(27.927)	32.416	155.059
	PROFIT/LOSS AFTER TAX		(49.077)	88.810	346.366
	Earnings Per Share (Rs.)		(1.86)	3.36	13.12

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(1.59)	2.36	8.81
Operating Profit Margin (PBITD/Sales)	(%)	5.12	9.71	19.89
Return on Total Assets (PBT/Total Assets}	(%)	(2.17)	3.43	14.09
Return on Investment (ROI) (PBT/Networth)		(0.07)	0.10	0.44
Debt Equity Ratio (Total Debt /Networth)		0.29	0.26	0.43
Current Ratio (Current Asset/Current Liability)		1.19	1.16	1.31

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	264.000	264.000	264.000
Reserves & Surplus	884.345	926.825	877.748
Net worth	1148.345	1190.825	1141.748
long-term borrowings	297.500	87.166	0.000
Short term borrowings	200.196	219.987	328.422
Total borrowings	497.696	307.153	328.422
Debt/Equity ratio	0.433	0.258	0.288

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	3931.098	3767.043	3084.070
		(4.173)	-18.130

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	3931.098	3767.043	3084.070
Profit	346.366	88.810	(49.077)
	8.81%	2.36%	(1.59%)

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	Yes
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	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	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10307097	30/08/2011	24,301,296.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B20931473
2	10069174	31/12/2012 *	250,000,000.00	IDBI BANK LIMITED	#5-9-89/1&2, CHAPEL ROAD, SPECIALIZED CORPORATE BRANCH, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	B68463538
3	10068294	28/12/2007 *	485,000,000.00	INDUSTRIAL DEVELOPEMENT BANK OF INDIA	MAIN BRANCH, 5-9-89/1&2, CHAPEL ROAD, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	A30365068
4	10068296	24/02/2011 *	465,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN ROAD SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA	B08727299
5	90136366	03/01/2013 *	408,500,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN ROAD, HYDERABAD, ANDHRA PRADESH - 500082, INDIA	B66117375

* Date of charge modification

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Computer Equipments

Intangible Assets

· 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 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.63.32
UK Pound	1	Rs.78.63
Euro	1	Rs.76.59

INFORMATION DETAILS

Information Gathered by :	HEN
Analysis Done by :	DIV
Report Prepared by :	ANU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.