MIRA INFORM REPORT

Report Date :

02.01.2015

IDENTIFICATION DETAILS

Name :	PATANJALI AYURVED LIMITED [w.e.f.25.06.2007]
Formerly Known As :	PATANJALI AYURVED PRIVATE LIMITED
Registered Office :	D-26, Pushpanjali, Bijwasan Enclave, New Delhi - 110061
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.01.2006
Com. Reg. No.:	55-144789
Capital Investment / Paid-up Capital :	Rs. 411.208 Millions
CIN No.: [Company Identification No.]	U24237DL2006PLC144789
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECP4424C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Trading of Ayurvedic Products.
No. of Employees :	Information Decline by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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 ab established company having good track record. As per registrar of the companies the date of balance sheet (i. e. Financial Filed) is shown on 31.03.2014 but the documents related to the financials are not available from any source. Fundamentals of the company is decent. Financial position of the company is strong and healthy. Trade relation are reported to be fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – 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

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 DECLINED

Management non-cooperative. (Tel. No.: 91-1334-240008)

LOCATIONS

Registered Office :	D-26, Pushpanjali, Bijwasan Enclave, New Delhi – 110061, India
Tel. No.:	91-1334-321509
Fax No.:	Not Available
E-Mail :	shashi2cs@patanjaliayurved.org
Website :	http://www.patanjaliayurveda.com
Factory 1 :	D-38 Maharshi Dayanand Gram, Industrial Area Near Bahadarbad, Delhi-Haridwar National Highway, Haridwar – 249401, Uttarakhand, India
Tel. No.:	91-1334-321509
Factory 2 :	D-38, Haridwar, Old Industrial Area, Haridwar – 249401, Uttarakhand, India
Factory 3 :	Unit 3, Village-Padartha, Industrial Area, Laksar Road, Haridwar – 249401, Uttarakhand, India
Factory 4 :	Located at: Roorkee, Uttarakhand, India

DIRECTORS

As on: 30.09.2014

Name :

Mr. Acharya Balkrishna

Designation :

Chairman Cum Managing director

Address :

Kripalu Bagh, Kankhal, Haridwar – 249408, Uttarakhand, India

Date of Birth/Age :

25.07.1972

Date of Appointment :

01.10.2007

PAN No.:

AKJPB0992K

DIN No.:

01778007

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	U24237DL2006PLC144789	PATANJALI AYURVED LIMITED	Managing director	01-10-07	13-01-06	-	Active	NO
2	U24233UR2006PLC031655	VEDIC BROADCASTING LIMITED	Director	21-04-06	21-04-06	-	Active	NO
3	U24233UP2006PTC032325	KANKHAL AYURVEDA PRIVATE LIMITED	Director	06-09-06	06-09-06	01-08-11	Active	NO
4	U24233UP2006PTC032323	DEVAM AYURVEDA PRIVATE LIMITED	Director	06-09-06	06-09-06	01-08-11	Active	NO
5	U24233UP2006PLC032324	CHAITANYA AYURVEDA LIMITED	Director	06-09-06	06-09-06	-	Active	NO
6	U24233UP2006PLC032322	GANGOTRI AYURVEDA LIMITED	Director	06-09-06	06-09-06	-	Active	NO
7	U70101DL2004PTC126692	DYNAMIC BUILDCON PRIVATE LIMITED	Director	18-11-06	18-11-06	25-07-11	Active	NO
8	U24233UR2009PTC032748	VEDIC AYURMED PRIVATE LIMITED	Director	05-01-09	05-01-09	01-08-11	Active	NO
9	U24233UR2009PTC032747	AAROGYA HERBS (INDIA) PRIVATE LIMITED	Director	05-01-09	05-01-09	01-08-11	Active	NO
10	U15412WB2009PTC131805	PATANJALI BISCUITS PRIVATE LIMITED	Director	12-01-09	12-01-09	20-01-09	Active	NO
11	U15122UR2009PTC032768	PATANJALI FOOD & HERBAL PARK PRIVATE LIMITED	Director	27-01-09	27-01-09	-	Active	NO
12	U15132MH2009PTC189602	JHARKHAND MEGA FOOD PARK PRIVATE LIMITED	Nominee director	14-07-10	17-03-09	27-04-12	Active	NO
13	U25200DL2009PTC190676	DIVYA PACKMAF PRIVATE LIMITED	Additional director	30-05-09	30-05-09	24-02-10	Active	NO
14	U74900UR2009PTC032892	VEDIC AASTHABHAJAN BROADCASTING PRIVATE LIMITED	Director	01-08-11	28-07-09	-	Active	NO
15	U74900UR2009PTC032904	PATANJALI AGRO INDIA PRIVATE LIMITED	Director	19-08-09	19-08-09	05-01-12	Active	NO
16	U85191UR2009PTC032902	PATANJALI AAROGYA PRIVATE LIMITED	Director	01-08-11	19-08-09	-	Active	NO
17	U85300UR2009PTC032903	SHIVALICK AGROHERB PRIVATE LIMITED	Director	01-08-11	19-08-09	12-04-13	Active	NO
18	U85191UR2009PTC032905	HERBO YOG VILLAGE PRIVATE LIMITED	Director	01-08-11	20-08-09	28-06-14	Active	NO
19	U74120UR2009PTC032909	PATANJALI FLEXIPAK PRIVATE LIMITED	Director	20-08-09	20-08-09	21-11-09	Active	NO
20	U21098UR2009PTC032906	PATANJALI CORRUPACK PRIVATE LIMITED	Director	20-08-09	20-08-09	23-07-11	Active	NO
21	U85191UR2009PTC032908	HERBO YOG GRAM PRIVATE LIMITED	Director	20-08-09	20-08-09	-	Active	NO
22	U74120UR2009PTC032907	PATANJALI AROMATICS PRIVATE LIMITED	Director	20-08-09	20-08-09	-	Active	NO
23	U60231UR2009PTC032912	PATANJALI PARIVAHAN PRIVATE LIMITED	Director	21-08-09	21-08-09	19-11-09	Active	NO
24	U70102UR2009PTC032911	ECOGREEN BUILDING MATERIALS PRIVATE LIMITED	Director	21-08-09	21-08-09	27-06-13	Active	NO
25	U85191UR2009PTC032910	HERBO VED GRAM PRIVATE LIMITED	Director	21-08-09	21-08-09	15-05-13	Active	NO
26	U18109UR2009PTC032913	PATANJALI PARIDHAN PRIVATE LIMITED	Director	21-08-09	21-08-09	-	Active	NO
27	U85300UR2009PTC032916	HIMALICK HERBO HEALTHCARE PRIVATE LIMITED	Director	24-08-09	24-08-09	17-04-13	Active	NO
28	U17200UR2009PTC032917	PATANJALI TEXTILES PRIVATE LIMITED	Director	24-08-09	24-08-09	-	Active	NO
29	U15400UR2009PTC032914	PATANJALI PEYA PRIVATE LIMITED	Director	24-08-09	24-08-09	-	Active	NO
30	U74900UR2009PTC033028	PATANJALI NATURAL COLOROMA PRIVATE LIMITED	Director	17-12-09	17-12-09	01-02-10	Active	NO
31	U24110DL1996PTC080431	ROHINI INFRACON PRIVATE LIMITED	Director	01-01-10	01-01-10	01-08-11	Active	NO
32	U74900UR2010PTC033180	TEJAS URJA PRIVATE LIMITED	Director	31-05-10	31-05-10	31-08-12	Active	NO
33	U73100UR2011PTC033443	PATANJALI BIO RESEARCH INSTITUTE PRIVATE LIMITED	Director	11-03-11	11-03-11	30-12-11	Active	NO
34	U15122UR2011PTC033454	PATANJALI MADHURAM UDYOG PRIVATE LIMITED	Director	21-03-11	21-03-11	-	Active	NO

Name :

Mr. Mukta Nand

Designation :

Director

Address :

Kripalu Bagh, Kankhal, Haridwar – 249408, Uttarakhand, India

Date of Birth/Age :

15.07.1956

Qualifications:

B.Sc

Date of Appointment :

13.01.2006

DIN No.:

01778508

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	U24237DL2006PLC144789	PATANJALI AYURVED LIMITED	Director	13-01-06	13-01-06	-	Active	NO
2	U24233UR2006PLC031655	VEDIC BROADCASTING LIMITED	Director	21-04-06	21-04-06	-	Active	NO
3	U24233UP2006PTC032323	DEVAM AYURVEDA PRIVATE LIMITED	Director	06-09-06	06-09-06	-	Active	NO
4	U24233UP2006PLC032322	GANGOTRI AYURVEDA LIMITED	Director	29-09-09	06-09-06	-	Active	NO
5	U24233UP2006PLC032324	CHAITANYA AYURVEDA LIMITED	Director	06-09-06	06-09-06	-	Active	NO
6	U24233UP2006PTC032325	KANKHAL AYURVEDA PRIVATE LIMITED	Director	06-09-06	06-09-06	-	Active	NO
7	U70101DL2004PTC126692	DYNAMIC BUILDCON PRIVATE LIMITED	Director	18-11-06	18-11-06	-	Active	NO
8	U15132MH2009PTC189602	JHARKHAND MEGA FOOD PARK PRIVATE LIMITED	Nominee director	14-07-10	17-03-09	27-04-12	Active	NO
9	U74900UR2009PTC032892	VEDIC AASTHABHAJAN BROADCASTING PRIVATE LIMITED	Director	28-07-09	28-07-09	-	Active	NO
10	U24110DL1996PTC080431	ROHINI INFRACON PRIVATE LIMITED	Director	01-01-10	01-01-10	-	Active	NO
11	U73100UR2011PTC033443	PATANJALI BIO RESEARCH INSTITUTE PRIVATE LIMITED	Director	11-03-11	11-03-11	30-12-11	Active	NO
12	U24233UR2009PTC032748	VEDIC AYURMED PRIVATE LIMITED	Director	30-06-11	30-06-11	-	Active	NO
13	U15122UR2009PTC032768	PATANJALI FOOD & HERBAL PARK PRIVATE LIMITED	Nominee director	18-07-11	18-07-11	-	Active	NO
14	U85191UR2009PTC032910	HERBO VED GRAM PRIVATE LIMITED	Additional director	16-05-14	16-05-14	-	Active	NO

Name :

Mr. Ajai Kumar Arya

Designation :

Director

Address :

F-50, Near Jain Mandir, Mohan Nagar, Hindon City, Karauli - 302003, Rajasthan, India

Date of Birth/Age :

05.07.1947

Qualifications:

Matriculation

Date of Appointment :

30.04.2007

DIN No.:

02013411

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	U24237DL2006PLC144789	PATANJALI AYURVED LIMITED	Director	30-04-07	30-04-07	-	Active	NO
2	U24233UR2006PLC031655	VEDIC BROADCASTING LIMITED	Director	01-06-07	01-06-07	-	Active	NO
3	U26109DL2005PTC139315	JMA PROMOTERS PRIVATE LIMITED	Director	30-09-09	05-05-09	-	Active	NO
4	U21098UR2009PTC032906	PATANJALI CORRUPACK PRIVATE LIMITED	Director	30-06-11	30-06-11	-	Active	NO
5	U24233UR2009PTC032747	AAROGYA HERBS (INDIA) PRIVATE LIMITED	Director	30-06-11	30-06-11	-	Active	NO
6	U24233UP2006PTC032325	KANKHAL AYURVEDA PRIVATE LIMITED	Director	30-06-11	30-06-11	-	Active	NO
7	U24110DL1996PTC080431	ROHINI INFRACON PRIVATE LIMITED	Director	30-06-11	30-06-11	-	Active	NO

Name :

Madam Sumedh

Designation :

Director

Address :

HNo. 21, Chyotipura, PS Rajabpur, The Amroha, Jyotibaphule Nagar-244236, Utter Pradesh, India

Date of Birth/Age :

01.01.1960

Date of Appointment :

30.09.2014

DIN No.:

06974737

Name :

Mr. Rakesh Mittal

Designation :

Director

Address :

House No. D-18, New Model Town Extension, Hisar, Haryana-125005

Date of Birth/Age :

15.02.1979

Date of Appointment :

30.09.2014

DIN No.:

06759857

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	U24237DL2006PLC144789	PATANJALI AYURVED LIMITED	Director	30-09-14	11-12-13	-	Active	NO
2	U74140HR2014PTC051620	SOCIAL REVOLUTION MEDIA & RESEARCH PRIVATE LIMITED	Director	17-01-14	17-01-14	-	Active	NO
3	U74900UR2009PTC033028	PATANJALI NATURAL COLOROMA PRIVATE LIMITED	Director	29-01-14	29-01-14	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shashi Chandra Jha
Designation :	Secretary
Address :	141, D.J. Street, Bhadrakali, Hoogly – 712232, West Bengal, India
Date of Birth/Age :	23.01.1964
Date of Appointment :	04.04.2012
PAN No.:	ADOPJ3982B

MAJOR SHAREHOLDERS

As on: 30.09.2014

Names of Shareholders	No. of Shares
Acharya Balkrishna	38722500
Mukta Nand Swami	1000
Rajat Prakash	50000
Sarwan Poddar	1246154
Govind Agarwal	50000
Sunita Poddar	1246154
Ram Bharat	6300
Total	41322108

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2014

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	6.03
Directors or relatives of directors	93.71
Other	0.26
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing and Trading of Ayurvedic Products.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS = 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 :

Information Decline by the management

Bankers :

Banker Name	State Bank of India
Branch Address	Sme Branch, Sector 5, Haridwar - 249403, Uttarakhand, 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

Banker Name	Punjab National Bank
Branch Address	Ahmedpur Branch, Ranipur More,, Haridwar - 249401, Uttarakhand, 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 LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
Long term borrowings
Term loans from banks	687.231	997.557
Short term borrowings
Working capital loans from banks	1041.976	857.849
Total	1729.207	1855.406

Auditors :
Name :	Anil Ashok and Associates Chartered Accountants
Address :	Arya Nagar Chowk, Jwlapur, Haridwar – 249407, Uttarakhand, India
PAN No.:	ABHPK3535A
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Patanjali Food and Herbal Park Private Limited [U15122UR2009PTC032768] Chaitanya Ayurveda Limited [U24233UP2006PLC032324] Gangotri Ayurveda Limited [U24233UP2006PLC032322] Divya Yog Mandir Trust (D.Y.M.T.) Patanjali Yogpeeth Trust Herboved Inc., United States Vedic Broadcasting Limited (U24233UR2006PLC031655) Patanjali Gramodyog Nyas Patanjali Flexipak Private Limited (U7412UR2009PTC032909) Tejas Urja Private Limited

CAPITAL STRUCTURE

As on: 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41322108	Equity Shares	Rs.10/- each	Rs. 413.221 Millions

As on: 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41120808	Equity Shares	Rs.10/- each	Rs. 411.208 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	411.208	411.208	411.208
(b) Reserves & Surplus	1873.816	1199.432	736.084
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.086	0.001	13.001
Total Shareholders’ Funds (1) + (2)	2285.110	1610.641	1160.293
(3) Non-Current Liabilities
(a) long-term borrowings	687.231	997.557	1322.727
(b) Deferred tax liabilities (Net)	108.110	104.059	104.871
(c) Other long term liabilities	184.151	210.615	23.608
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	979.492	1312.231	1451.206
(4) Current Liabilities
(a) Short term borrowings	1041.976	857.849	998.358
(b) Trade payables	920.846	835.870	782.134
(c) Other current liabilities	548.541	614.589	588.087
(d) Short-term provisions	191.773	143.953	176.546
Total Current Liabilities (4)	2703.136	2452.261	2545.125
TOTAL	5967.738	5375.133	5156.624
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2473.528	2559.391	2643.286
(ii) Intangible Assets	21.614	1.693	1.693
(iii) Capital work-in-progress	49.680	1.574	0.711
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	230.319	227.307	166.858
(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	2775.141	2789.965	2812.548
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1699.871	1317.812	1035.155
(c) Trade receivables	781.861	690.859	623.790
(d) Cash and cash equivalents	40.867	50.862	261.130
(e) Short-term loans and advances	669.972	524.288	422.898
(f) Other current assets	0.026	1.347	1.103
Total Current Assets	3192.597	2585.168	2344.076
TOTAL	5967.738	5375.133	5156.624

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	8439.197	4512.201	3177.639
	Other Income	50.698	26.980	10.756
	TOTAL (A)	8489.895	4539.181	3188.395
Less	EXPENSES
	Cost of Materials Consumed	3112.861	1465.237	1100.554
	Purchases of Stock-in-Trade	1394.563	421.428	351.096
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(130.287)	(159.367)	(453.166)
	Employees benefits expense	455.784	251.440	151.809
	Other expenses	2088.247	1158.216	604.013
	TOTAL (B)	6921.168	3136.954	1754.306
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1568.727	1402.227	1434.089
Less	FINANCIAL EXPENSES (D)	287.190	361.679	248.694
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1281.537	1040.548	1185.395
Less/ Add	DEPRECIATION/ AMORTISATION (F)	329.547	338.474	303.997
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	951.990	702.074	881.398
Less	TAX (I)	195.825	143.142	197.627
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	756.165	558.932	683.771
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	1056.298	705.293	324.929
Less	APPROPRIATIONS
	Transfer to General Reserve	76.021	112.344	0.000
	Dividend	0.000	0.000	1008.701
	Tax on Dividend	238.958	95.583	303.407
	BALANCE CARRIED TO THE B/S	1497.484	1056.298	705.293
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	42.315	37.127	10.816
	TOTAL EARNINGS	42.315	37.127	10.816
	IMPORTS
	Components and Stores parts	0.000	0.775	3.037
	Capital Goods	0.000	6.343	1.903
	Others	0.000	6.737	5.123
	TOTAL IMPORTS	0.000	13.855	10.063
	Earnings / (Loss) Per Share (Rs.)	18.39	13.59	19.7

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	8.96	12.39	21.52
Operating Profit Margin (PBIDT/Sales)	(%)	18.59	31.08	45.13
Return on Total Assets (PBT/Total Assets}	(%)	16.74	13.64	17.67
Return on Investment (ROI) (PBT/Networth)		0.42	0.44	0.76
Debt Equity Ratio (Total Debt /Networth)		0.76	1.15	2.00
Current Ratio (Current Asset/Current Liability)		1.18	1.05	0.92

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	411.208	411.208	411.208
Reserves & Surplus	736.084	1199.432	1873.816
Share Application money pending allotment	13.001	0.001	0.086
Net worth	1160.293	1610.641	2285.110
long-term borrowings	1322.727	997.557	687.231
Short term borrowings	998.358	857.849	1041.976
Total borrowings	2321.085	1855.406	1729.207
Debt/Equity ratio	2.000	1.152	0.757

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	3177.639	4512.201	8439.197
		41.999	87.031

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	3177.639	4512.201	8439.197
Profit	683.771	558.932	756.165
	21.52%	12.39%	8.96%

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	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	No
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	No

Note:

The registered office of the company has been shifted from Plot No. 209, Bhalswa Village, Opposite Jahangir Puri, G.T. Karnal Road, Delhi – 110033, India w.e.f.01.09.2012

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10310437	16/08/2011	100,000,000.00	PUNJAB NATIONAL BANK	GURUKUL KANGRI, HARIDWAR, UTTARAKHAND - 249404, INDIA	B22648919
2	10232579	08/07/2010	24,200,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKHAND - 249401, INDIA	A91027250
3	10228500	18/06/2010	67,500,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKHAND - 249401, INDIA	A89371074
4	10176752	14/05/2013 *	220,000,000.00	STATE BANK OF INDIA SME BRANCH	SECTOR 5, BHEL, RANIPUR, HARIDWAR, UTTARAKHAND -  249403, INDIA	B76972728
5	10163631	23/02/2010 *	1,500,000,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKHAND - 249401, INDIA	A82711359
6	10128957	31/07/2009 *	60,000,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKHAND - 249401, INDIA	A69771665
7	10128956	11/03/2013 *	1,020,000,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKHAND - 249401, INDIA	B72466626
8	10067033	23/02/2010 *	380,000,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKHAND - 249401, INDIA	A82710815
9	10067025	24/07/2007	45,000,000.00	PUNJAB NATIONAL BANK	AHMEDPUR BRANCH, RANIPUR MORE, HARIDWAR, UTTARAKHAND - 249401, INDIA	A22769459

* Date of charge modification

FIXED ASSETS:

Land

Buildings

Office building

Plant and equipment

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Computer equipments

Books periodicals

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. 98.63
Euro	1	Rs. 76.59

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUM
Report Prepared by :	ASH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	6
--CREDIT LINES	1~10	6
--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		53

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.