MIRA INFORM REPORT

Report No. :	301281
Report Date :	05.01.2015

IDENTIFICATION DETAILS

Name :	FACOR POWER LIMITED
Registered Office :	Suite 307, Corporate One Plot No. 5, Jasola New Delhi – 110025 Delhi
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.08.2005
Com. Reg. No.:	55-139923
Capital Investment / Paid-up Capital :	Rs. 2240.600 Millions
CIN No.: [Company Identification No.]	U40101DL2005PLC139923
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in generation of power.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 3464000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is considered on account of some accumulated losses incurred by the company. 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	CARE
Rating	Long Term Bank Facilities (BB) :
Rating Explanation	Moderate risk of default
Date	04.12.2013

Rating Agency Name	CARE
Rating	Short Term Bank Facilities (A4) :
Rating Explanation	Minimal degree of safety. It carry very high credit risk.
Date	04.12.2013

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. Chapelendu Behura
Designation :	Senior Manager
Contact No.:	91-9437031386
Date :	02.01.2015

LOCATIONS

Registered Office :	Suite 307, Corporate One Plot No. 5, Jasola New Delhi – 110025 Delhi, India
Tel. No.:	91- 011-40701038
Fax No.:	91- 011-40701045
E-Mail :	rsharma@facorpower.in
Website :	http://www.facrgrup.in
Location :	Owned/ Rented / Leased
Corporate Office 1 :	FACOR HOUSE A-45 to 50, Sector 16 Noida – 201 301, U.P. State, India
Tel. No.:	91- 0120-417 1000
Fax No.:	91- 0120-425 6700
E-Mail :	facordelhi@facorgroup.in
Corporate Office 2 :	Suite 207, Corporate One Plot No. 5, Jasola New Delhi – 110025 Delhi, India
Tel. No.:	91-11-40701000
Fax No.:	91-11-41624880
E-Mail :	delhi@facorpower.in
Registered Office & Works	D.P. Nagar, P.O. Randia - 756 135, Dist : Bhadrak, Orissa, India
Tel. No.:	91- (06784) 240320/240272
Fax No.:	91- 06784-240626,
E-Mail :	bls_facorccp@bsnl.in
Registered Office & Works 2 :	Mumbai  168, C.S.T. Road, Kalina, Santacruz (East) Mumbai - 400 098
Tel. No.:	91-22 - 26528869,66910823
Fax No.:	91-022-26526079
E-Mail :	facor@mtnl.net.in / facorstl@mtnl.net.in
Registered Office & Works 3 :	Kolkata  Everest House,17th Floor 46-C, Chowringhee Road, Kolkata – 700071, west Bengal, India
Tel. No.:	40103400
Fax No.:	91-33-40103434, Gram: Facoragent
E-Mail :	facorkol@dataone.in
Registered Office & Works 4 :	Chennai  37-F, Whites Road,2 Middle Floor Chennai - 600 014, India
Tel. No.:	28411092
Fax No.:	91-44-28411097, Gram: Facoragent
E-Mail :	facoralloys@vsnl.net
Head Office 1 :	Tumsar Shreeram Bhawan,  Tumsar - 441 912 Dist. Bhandara, Maharashtra, India
Tel. No.:	91-232233, 232251, 233090
Fax No.:	91-91-7183-232271
E-Mail :	acor@satyam.net.in
Mining Complex :	Bhadrak Laxmi Bhawan,Kuans Bhadrak-756 100, District : Bhadrak, Orissa, India
Tel. No.:	91-250598, 251312
Fax No.:	91-91-6784-251782
E-Mail :	bls_facor168@sancharnet.in
Other Offices 1 :	Visakhapatnam  Manganese House Harbour Road,  Visakhapatnam - 530 001 (A.P.), India
Tel. No.:	91-2569011-13,2568003
Fax No.:	91-91-891-2564077, Gram: Facor
E-Mail :	facorvzg@satyam.net.in  facoralloys@eth.net
Other Offices 2 :	Nagpur  Shreeram Bhawan, Ramdaspeth Nagpur - 440 010, India
Tel. No.:	91-2436920, 243692
Fax No.:	91-91-712-2432295, Gram: Facor
Other Offices 3 :	Bhubaneswar  Gd-2/10, Chandrasekharpur,  Bhubaneswar - 751 023 (Orissa), India
Tel. No.:	91-(0674)2302881 & 2302882
Fax No.:	91-91-674-2302612, Gram: Facor
E-Mail :	facor@bbsr@dataone.in

DIRECTORS

As on : 30.09.2014

Name :

Mr. Ashish Ramkishan Saraf

Designation :

Director

Address :

Shreeram Bhavan, 41-Eashok Avenue, Sainik Frams. New Delhi-110062, Delhi, India

Date of Birth/Age :

13.02.1966

Date of Appointment :

24.08.2005

DIN No.:

00004547

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	U99999MH1953PTC021694	RAI BAHADUR SHREE RAM AND COMPANY PRIVATE LIMITED	Director	02-09-85	02-09-85	-	Active	NO
2	U29219AP1990PTC011582	SARAF ENTERPRISES PRIVATE LIMITED	Director	25-09-93	25-09-93	-	Active	NO
3	U67190MH1955PTC010652	GDP INFRASTRUCTURE PRIVATE LIMITED	Director	30-03-96	30-03-96	-	Active	NO
4	U26999WB1998PTC088088	AISHA - AVIKA ENTERPRISES PRIVATE LIMITED	Director	08-10-98	08-10-98	14-01-14	Active	NO
5	L45201OR1955PLC008400	FERRO ALLOYS CORPORATION LIMITED	Whole-time director	01-08-09	01-08-04	-	Active	NO
6	U40101DL2005PLC139923	FACOR POWER LIMITED	Director	24-08-05	24-08-05	-	Active	NO
7	U27109DL2005PTC135982	WINSUM STEEL SERVICES PRIVATE LIMITED	Director	20-10-05	20-10-05	-	Active	NO
8	U74899DL2005PTC142893	RAMPRO CONSULTANTS PRIVATE LIMITED	Director	23-11-05	23-11-05	01-11-07	Active	NO
9	U74140DL2007PTC166675	XE Advisers India Private Limited	Director	30-08-07	30-08-07	-	Active	NO
10	U45208DL2007PLC167732	FACOR REALTY AND INFRASTRUCTURE LIMITED	Director	05-09-07	05-09-07	-	Active	NO
11	U93090DL2006PTC152106	KONARK MANAGEMENT CONSULTANTS PRIVATE LIMITED	Additional director	13-11-07	13-11-07	-	Active	NO
12	U40107DL2010PLC207558	Facor Energy India Limited	Director	26-08-10	26-08-10	-	Active	NO
13	U51909DL2011PTC214426	ARK MERCANTILE PRIVATE LIMITED	Director	19-02-11	19-02-11	-	Active	NO
14	U25209DL1992PLC175740	VAKRANGEE PRESS LIMITED	Director	24-10-11	24-10-11	-	Active	NO

Name :

Mr. Vineet Vithaldas Saraf

Designation :

Director

Address :

16/1, Friends Colony(West), New Delhi-110065, Delhi, India

Date of Birth/Age :

12.11.1958

Date of Appointment :

29.04.2006

DIN No.:

00004715

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	L45201OR1955PLC008400	FERRO ALLOYS CORPORATION LIMITED	Director	10-09-14	01-08-04	-	Active	NO
2	U74140DL2005PTC139688	VVS CONSULTANTS PRIVATE LIMITED	Director	16-08-05	16-08-05	-	Active	NO
3	U40101DL2005PLC139923	FACOR POWER LIMITED	Whole-time director	01-08-14	29-04-06	-	Active	NO
4	U72300DL2007PTC158948	TIMES TECHNOSOFT PRIVATE LIMITED	Additional director	25-07-07	25-07-07	17-09-07	Active	NO
5	U45208DL2007PLC167732	FACOR REALTY AND INFRASTRUCTURE LIMITED	Director	05-09-07	05-09-07	-	Active	NO
6	U65993HP2008PTC030848	CHAMUNDA RENEWABLE ENERGY PRIVATE LIMITED	Director	11-03-08	11-03-08	17-03-11	Active	NO
7	U40101PB1999PTC022843	AQUA POWER PRIVATE LIMITED	Director	28-09-10	23-03-10	-	Active	NO
8	U67120CH2003PTC026236	AQUA CAPITAL PRIVATE LIMITED	Director	29-09-10	04-06-10	-	Active	NO
9	U40107DL2010PLC207558	Facor Energy India Limited	Director	26-08-10	26-08-10	-	Active	NO
10	U51101DL2011PTC215698	VANITA ENTERPRISES PRIVATE LIMITED	Director	11-03-11	11-03-11	-	Active	NO

Name :

Mr. Narayan Das Saraf

Designation :

Director

Address :

B-42, Maharani Bagh, New Delhi-110065, Delhi, India

Date of Birth/Age :

09.08.1938

Date of Appointment :

20.07.2006

DIN No.:

00006260

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	U99999MH1953PTC021694	RAI BAHADUR SHREE RAM AND COMPANY PRIVATE LIMITED	Managing director	01-06-13	08-09-62	-	Active	NO
2	U13201MH1965PTC013107	SHREE RAM DURGA PRASAD ORES PRIVATE LIMITED	Director	13-01-65	13-01-65	-	Active	NO
3	U51109MH1924PLC001107	GANNON DUNKERLEY AND COMPANY LIMITED	Director	24-05-65	24-05-65	-	Active	NO
4	U63040MH1969PTC014305	TRAVELERA PRIVATE LIMITED	Director	28-09-78	28-09-78	-	Active	NO
5	L27100MH2004PLC146283	FACOR STEELS LIMITED	Director	29-05-13	28-04-06	-	Active	NO
6	U40101DL2005PLC139923	FACOR POWER LIMITED	Director	18-09-06	20-07-06	-	Active	NO
7	U14200DL2011PTC217111	NDS MINERALS PRIVATE LIMITED	Director	06-04-11	06-04-11	-	Active	NO

Name :

Mr. Anurag Murlidhar Saraf

Designation :

Director

Address :

Shreeram Bhavan. Ramdaspeth, Nagpur-440010, Maharashtra, India

Date of Birth/Age :

17.05.1971

Date of Appointment :

20.07.2006

DIN No.:

00009631

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	U72900MH1999PTC121023	GDP HOLDINGS PRIVATE LIMITED	Director	28-07-99	28-07-99	-	Active	NO
2	U55101MH2004PTC148116	INSTINCT HOTEL AND RESTAURANT PRIVATE LIMITED	Director	19-08-04	19-08-04	-	Active	NO
3	U27100MH2004PLC149673	SOUTH CENTRAL STEEL AND POWER LIMITED	Director	24-11-04	24-11-04	25-09-08	Active	NO
4	L27100MH2004PLC146283	FACOR STEELS LIMITED	Director	14-03-13	10-06-06	-	Active	NO
5	U40101DL2005PLC139923	FACOR POWER LIMITED	Director	18-09-06	20-07-06	-	Active	NO
6	U45201MH2006PTC163979	DP INFRASTRUCTURE HOLDINGS PRIVATE LIMITED	Director	23-08-06	23-08-06	-	Active	NO
7	U51909MH2006PTC164908	SRX GLOBAL PRIVATE LIMITED	Director	25-09-06	25-09-06	-	Active	NO
8	L45201OR1955PLC008400	FERRO ALLOYS CORPORATION LIMITED	Additional director	10-11-14	10-10-06	-	Active	NO
9	U45208DL2007PLC167732	FACOR REALTY AND INFRASTRUCTURE LIMITED	Director	05-09-07	05-09-07	-	Active	NO
10	L27100MH1972PLC016134	VIDARBHA IRON AND STEEL CORPORATION LIMITED	Managing director	15-03-13	18-11-10	-	Active	NO
11	U51101MH2011PTC219458	MEZERON ENTERPRISES PRIVATE LIMITED	Director	05-07-11	05-07-11	-	Active	NO
12	L27101AP2004PLC043252	FACOR ALLOYS LIMITED	Managing director	13-08-13	15-01-13	-	Active	NO

Name :

Mr. Yogesh Kumar Umashankarji S

Designation :

Director

Address :

Shreeram Bhavan.Tumsar-441912, Maharashtra, India

Date of Birth/Age :

08.06.1958

Date of Appointment :

29.04.2006

DIN No.:

00963740

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	U99999MH1953PTC021694	RAI BAHADUR SHREE RAM AND COMPANY PRIVATE LIMITED	Director	30-04-79	30-04-79	-	Active	NO
2	U32109DL1987PLC029127	SARANKYO ELECTRONICS LIMITED	Director	07-09-87	07-09-87	-	Dormant	NO
3	U13201MH1965PTC013107	SHREE RAM DURGA PRASAD ORES PRIVATE LIMITED	Director	12-08-93	12-08-93	-	Active	NO
4	U40101DL2005PLC139923	FACOR POWER LIMITED	Whole-time director	01-08-14	29-04-06	-	Active	NO
5	L27101AP2004PLC043252	FACOR ALLOYS LIMITED	Managing director	15-09-08	01-05-06	01-02-13	Active	NO
6	U67190MH1955PTC010652	GDP INFRASTRUCTURE PRIVATE LIMITED	Additional director	09-07-07	09-07-07	-	Active	NO
7	U45208DL2007PLC167732	FACOR REALTY AND INFRASTRUCTURE LIMITED	Director	05-09-07	05-09-07	-	Active	NO
8	U40106AP2010PLC086208	Facor Electric Limited	Director	26-08-10	26-08-10	-	Active	NO
9	U40106DL2010PLC207733	Facor Solar Limited	Director	01-09-10	01-09-10	-	Active	NO
10	U51909MH2011PTC215092	YMR ENTERPRISE PRIVATE LIMITED	Director	22-03-11	22-03-11	-	Active	NO
11	U04010CT2004PTC017193	FAL POWER VENTURES PRIVATE LIMITED	Director	15-09-11	05-04-11	-	Active	NO
12	U01403MH2008PTC178728	MILTECH AGROTECH & INFRASTRUCTURE PRIVATE LIMITED	Director	29-09-11	29-09-11	-	Active	NO
13	U14292MH2011PTC224303	KORADI MINERALS PRIVATE LIMITED	Director	23-11-11	23-11-11	25-03-14	Active	NO
14	U74899DL1990PTC041549	BEEU LEASING AND FINANCE PVT LTD	Additional director	04-04-12	04-04-12	-	Active	NO
15	U45200MH2000PTC128791	VEET RAG HOMES PRIVATE LIMITED	Director	28-09-13	11-10-12	-	Active	NO
16	U10102MH2002PTC135525	ASIM MINERALS PRIVATE LIMITED	Director	30-09-13	20-12-12	-	Active	NO
17	U14220MH2014PTC255848	AWESOME MINERALS PRIVATE LIMITED	Director	04-07-14	04-07-14	-	Active	NO

Name :

Mr. Anand Sadashiv Kapre

Designation :

Director

Address :

A-805, Harsh Vardhan, Saki-Vihar Road, Andheri(E), Mumbai-400072

Date of Birth/Age :

04.05.1949

Date of Appointment :

29.03.2012

DIN No.:

00019530

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	L45201OR1955PLC008400	FERRO ALLOYS CORPORATION LIMITED	Director	31-07-02	31-07-02	-	Active	NO
2	L27100MH2004PLC146283	FACOR STEELS LIMITED	Director	20-07-04	20-07-04	-	Active	NO
3	L27101AP2004PLC043252	FACOR ALLOYS LIMITED	Additional director	27-10-07	27-10-07	-	Active	NO
4	U40101DL2005PLC139923	FACOR POWER LIMITED	Director	28-07-12	29-03-12	-	Active	NO
5	U45208KA2007PLC041581	QVC Realty Co. Limited	Director	14-07-14	27-06-14	-	Active	NO
6	U45200PN2012PTC142417	Amanora Future Towers Private Limited	Director	24-09-14	24-09-14	-	Active	NO

Name :

Mr. Virinder Kumar Sood

Designation :

Director

Address :

C-5/40, SDA New Delhi-110016, Delhi, India

Date of Birth/Age :

16.10.1940

Date of Appointment :

27.09.2012

DIN No.:

01871086

Name :

Mr. Sanjeev Kumar Gupta

Designation :

Director

Address :

16-C, Pocket C-7Z, Nilgiri Apartment, Sector-34Noida-201307, Uttar Pradesh, India

Date of Birth/Age :

04.10.1961

Date of Appointment :

24.02.2011

DIN No.:

KEY EXECUTIVES

Name :	Mr. Raju Thapar
Designation :	Company Secretary
Address :	H. No. 458, Sector-14, Gurgaon-122001, Haryana, India
Date of Birth/Age :	09.09.1966
Date of Appointment :	14.06.2010
PAN No.:	AACPT6903B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 30.09.2014

Names of Shareholders	No. of Shares
Ferro alloys corporation limited	195059930
Shri Ram Kishan Saraf 3tly.With Ferro Alloys Corporation Limited	10
Shri Ashish Saraf 3tly. With Ferro Alloys Corporation Limited	10
Shri Narayandas Saraf 3tly.With Ferro Alloys Corporation Limited	10
Shri Murlidhar Saraf 3tly.With Ferro Alloys Corporation Limited	10
Shri Vinod Saraf 3tly.With Ferro Alloys Corporation Limited	10
Shri Man03 Saraf 3tly.With Ferro Alloys Corporation Limited	10
Shri Yogesh Saraf 3tly.With Ferro Alloys Corporation Limited	10
Vineet Infin Private Limited	9000000
Facor alloys limited	20000000
Total	224060000

Equity Share Break up (Percentage of Total Equity)

As on : 30.09.2014

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in generation of power.
Products :	Not Divulged
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :
Products :	Raw materials
Countries :	UK, USA Germany
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	--

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	--

No. of Employees :

500 (Approximately)

Bankers :

• Central Bank of India, Corporate Finance Branch, Jeevan Tara Building, Parliament Street, New Delhi – 110001, Delhi, India
• State Bank of India, Bhadrak – 756135, Orissa, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Term Loans from others	4245.818	3494.274
Long term maturities of finance	0.000	0.044
		0
Short-term borrowings		0
Loans repayable on demand	152.007	152.737
Total	4397.825	3647.055

Banking Relations :	--
Auditors :	Not Divulged
Memberships :	--
Collaborators :	--
Holding Company :	Ferro Alloys Corporation Limited
Fellow Subsidiary :	Fecor Reality and infrastructure Limited, India Fecor Energy Limited, India

CAPITAL STRUCTURE

As on 29.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
235000000	Equity Shares	Rs.10/- each	Rs. 2350.000 Millions
1500000	Preference Shares	Rs. 100/-each	Rs. 150.000 Millions
	Total		Rs. 2500.000

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
224060000	Equity Shares	Rs.10/- each	Rs.2240.600 Millions

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
235000000	Equity Shares	Rs.10/- each	Rs. 2350.000 Millions
1500000	Preference Shares	Rs. 100/-each	Rs. 150.000 Millions
	Total		Rs. 2500.000

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
207100000	Equity Shares	Rs.10/- each	Rs.2071.000 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	2071.000	1821.244	1628.744
(b) Reserves & Surplus	-1204.908	-728.964	-263.995
(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)	866.092	1092.280	1364.749
(3) Non-Current Liabilities
(a) long-term borrowings	4245.818	3494.318	3750.044
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	41.383	56.989	1.517
(d) long-term provisions	2.968	2.897	1.796
Total Non-current Liabilities (3)	4290.169	3554.204	3753.357
(4) Current Liabilities
(a) Short term borrowings	251.046	403.687	3.738
(b) Trade payables	218.412	213.569	47.446
(c) Other current liabilities	1018.441	860.775	307.051
(d) Short-term provisions	0.365	0.250	0.179
Total Current Liabilities (4)	1488.264	1478.281	358.414
TOTAL	6644.525	6124.765	5476.520
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5654.071	3340.942	3292.079
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	699.909	2481.912	1615.430
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.040	0.040	0.040
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	19.839	91.702	229.945
(e) Other Non-current assets	14.349	14.132	11.441
Total Non-Current Assets	6388.208	5928.728	5148.935
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	142.873	99.003	31.072
(c) Trade receivables	49.898	26.236	43.842
(d) Cash and cash equivalents	23.665	21.501	181.688
(e) Short-term loans and advances	33.730	43.458	66.491
(f) Other current assets	6.151	5.839	4.492
Total Current Assets	256.317	196.037	327.585
TOTAL	6644.525	6124.765	5476.520

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1243.186	924.358	388.367
	Other Income	3.255	1.470	0.400
	TOTAL	1246.441	925.828	388.767
Less	EXPENSES
	Cost of Materials Consumed	929.940	794.372	361.468
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	0.000
	Employees benefits expense	46.141	37.784	17.999
	Other expenses	134.094	73.334	31.037
	TOTAL	1110.175	905.490	410.504
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	136.266	20.338	(21.737)
Less	FINANCIAL EXPENSES	418.593	322.709	161.113
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(282.327)	(302.371)	(182.850)
Less/ Add	DEPRECIATION/ AMORTISATION	193.618	162.598	81.145
	PROFIT/ (LOSS) BEFORE TAX	(475.945)	(464.969)	(263.995)
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	(475.945)	(464.969)	(263.995)
	IMPORTS
	Raw Materials	324.153	84.900	0.000
	TOTAL IMPORTS	324.153	84.900	0.000
	Earnings / (Loss) Per Share (Rs.)	(2.41)	(2.70)	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(38.28)	(50.30)	(67.98)
Operating Profit Margin (PBIDT/Sales)	(%)	10.96	2.20	(5.60)
Return on Total Assets (PBT/Total Assets}	(%)	(8.01)	(12.76)	(6.84)
Return on Investment (ROI) (PBT/Networth)		(0.55)	(0.43)	(0.19)
Debt Equity Ratio (Total Debt /Networth)		5.19	3.57	2.75
Current Ratio (Current Asset/Current Liability)		0.17	0.13	0.91

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	1628.744	1821.244	2071.000
Reserves & Surplus	-263.995	-728.964	-1204.908
Net worth	1364.749	1092.280	866.092
long-term borrowings	3750.044	3494.318	4245.818
Short term borrowings	3.738	403.687	251.046
Total borrowings	3753.782	3898.005	4496.864
Debt/Equity ratio	2.751	3.569	5.192

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	388.367	924.358	1243.186
		138.011	34.492

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	388.367	924.358	1243.186
Profit	-263.995	-464.969	-475.945
	-67.98%	-50.30%	-38.28%

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	No
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Short-term borrowings
Borrowings	99.039	250.950
Total	99.039	250.950

NOTE

The registered office of the company has been shifted from E – 334, East of Kailash, New Delhi – 110065, delhi, India to the present address (w.e.f. 01.05.2006 )

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10308980	19/03/2012 *	420,000,000.00	CENTRAL BANK OF INDIA LIMITED	Corporate Finance Branch, Jeevan Tara Building, P  arliament Street, New Delhi, Delhi - 110001, INDIA	B38145793
2	10173040	13/11/2014 *	5,179,000,000.00	RURAL ELECTRIFICATION CORPORATION LIMITED	CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW DELHI, Delh  i - 110003, INDIA	C34417451

* Date of charge modification

FIXED ASSETS

Plant and Machinery

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 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.63.29
UK Pound	1	Rs.98.39
Euro	1	Rs.76.31

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	DIV
Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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		28

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.