MIRA INFORM REPORT

Report No. :	301586
Report Date :	06.01.2015

IDENTIFICATION DETAILS

Name :	SUDHIR GENSETS LIMITED
Registered Office :	507, International Trade Tower, Nehru Place, New Delhi – 110019
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.10.1995
Com. Reg. No.:	55-073261
Capital Investment / Paid-up Capital :	Rs.47.287 Millions
CIN No.: [Company Identification No.]	U74899dl1995plc073261
TAN No.: [Tax Deduction & Collection Account No.]	dels12408e
PAN No.: [Permanent Account No.]	AABCS6697K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Supplier of Diesel Generating Sets.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (63)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments. 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 – 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	Fund based limits: AA-
Rating Explanation	Have high degree of safety and carry very low credit risk.
Date	August 2014

Rating Agency Name	ICRA
Rating	Non-fund based limits: A1+
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	August 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/ Factory 1 :	507, International Trade Tower, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-41608000 (10 Lines)
Fax No.:	91-11-41608027
E-Mail :	info@sudhirgensets.com kunnalmalhotra@sudhirgensets.com
Website :	www.sudhirgensets.com
Location :	Owned
Locality :	Commercial
Corporate Office :	Plot No-1, Sector-34, E.H.T.P., Gurgaon-122001, Haryana, India
Tel. No.:	91-124-4168000 (30lines)
Fax No.:	91-124-4168010
Factory 1:	Plot No.8-9 and10, Survey No.144/1/2, Industrial Area, Athal – 396230, U.T. of Dadra and Nagar Haveli.
Tel. No.:	91-260-3291418/ 22
Fax No.:	91-260-2632176
Factory 2:	E.P.I.P., Kartholi, Bari Brahamna, Jammu, Jammu and Kashmir, India
Tel. No.:	91-1923-22055
Fax No.:	91-1923-22055
Factory :	Also Located At: Athal Bangalore Gurgaon Jammu II Silvassa
Branch Offices :	Located At: New Delhi Ahemdabad Alwar Amritsar Baddi Chandigarh Jaipur Jammu Jodhpur Karnal Ludhiana Mumbai Surat Udaipur

DIRECTORS

As on 29.09.2014

Name :

Mr. Sudhir Seth

Designation :

Managing Director

Address :

14, Chinar Drive, DLF Chattarpur Farms, New Delhi – 110074, India

Date of Birth/Age :

01.05.1953

Qualification :

M.B.A

Experience :

41 Years

Date of Appointment :

27.09.2012

PAN No.:

ABBPS7543Q

DIN No.:

00281778

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	U74899DL1995PLC073261	SUDHIR GENSETS LIMITED	Managing director	27-09-12	02-09-06	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Managing director	29-09-14	21-03-07	-	Active	NO
3	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	20-09-08	26-11-07	-	Active	NO
4	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	25-05-09	25-05-09	-	Active	NO
5	U31501DL2011PTC226928	SUDHIR TESAR PRIVATE LIMITED	Director	02-11-11	02-11-11	-	Active	NO
6	U72200DL2005PTC136020	MASTER INFRASTRUCTURE PRIVATE LIMITED	Director	15-03-14	15-03-14	-	Active	NO
7	U45400DL2008PTC175280	SUNSHINE BUILDESTATE PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
8	U45201DL2004PTC128188	AVYA DEVELOPERS PRIVATE LIMITED	Director	25-09-14	15-03-14	-	Active	NO
9	U74899DL1989PTC035027	PERFECT COMMERCIAL PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
10	U45203DL2005PTC140380	MAGNA INFRASTRUCTURE PRIVATE LIMITED	Director	25-09-14	15-03-14	-	Active	NO
11	U45201DL2005PTC136318	HEIGHTS INFRASTRUCTURE PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
12	U70100DL2013PTC247867	A2Z INFRAHEIGHTS PRIVATE LIMITED	Director	27-09-14	15-03-14	-	Active	NO
13	U65921DL1996PTC077710	PRUDENCE CAPITAL AND MONEY MARKETS PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
14	AAC-5119	SUDHIR REAL ESTATES LLP	Designated Partner	28-07-14	28-07-14	-	Active	NO

Name :

Mr. Rahul Seth

Designation :

Managing Director

Address :

14, Chinar Drive, DLF Chattarpur Farms, New Delhi – 110074, India

Date of Birth/Age :

28.10.1977

Qualification :

Graduate

Date of Appointment :

27.09.2012

PAN No.:

AASPS9459B

DIN No.:

00281028

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	U74899DL1995PLC073261	SUDHIR GENSETS LIMITED	Managing director	27-09-12	14-08-97	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Managing director	29-09-14	21-03-07	-	Active	NO
3	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	20-09-08	26-11-07	-	Active	NO
4	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	25-05-09	25-05-09	-	Active	NO
5	U45400DL2008PTC175280	SUNSHINE BUILDESTATE PRIVATE LIMITED	Director	29-07-11	10-09-10	-	Active	NO
6	U31501DL2011PTC226928	SUDHIR TESAR PRIVATE LIMITED	Director	02-11-11	02-11-11	-	Active	NO
7	U18109DL2012PTC239929	KHLOE RETAIL PRIVATE LIMITED	Director	07-08-12	07-08-12	-	Active	NO
8	U74899DL1989PTC035027	PERFECT COMMERCIAL PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
9	U72200DL2005PTC136020	MASTER INFRASTRUCTURE PRIVATE LIMITED	Director	25-09-14	15-03-14	-	Active	NO
10	U45201DL2005PTC136318	HEIGHTS INFRASTRUCTURE PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
11	U34103DL2004PTC128817	ALIVE AUTOMOTIVES PRIVATE LIMITED	Director	25-09-14	15-03-14	-	Active	NO
12	U70100DL2013PTC247867	A2Z INFRAHEIGHTS PRIVATE LIMITED	Director	27-09-14	15-03-14	-	Active	NO
13	AAC-5119	SUDHIR REAL ESTATES LLP	Designated Partner	28-07-14	28-07-14	-	Active	NO

Name :

Mr. Maharaj Kishen Trisal

Designation :

Director

Address :

V-9/3, DLF City, Phase-3, Gurgaon-122001, Haryana, India

Date of Birth/Age :

26.11.1953

Qualification :

Graduate

Date of Appointment :

01.03.2006

DIN No.:

00059545

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	U74899DL1995PLC073261	SUDHIR GENSETS LIMITED	Director	01-03-06	01-03-06	-	Active	NO
2	U31909HR1994FTC032429	Marathon Electric India Private Limited	Director	29-09-06	29-09-06	31-12-13	Active	NO
3	U40101DL1997PLC088255	RBC Motors India Limited	Additional director	02-11-07	02-11-07	-	Amalgamated	NO
4	U29120WB2004PLC098278	Marathon Electric Motors (India) Limited	Director	30-12-08	02-11-07	31-12-13	Active	NO
5	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Director	30-09-10	23-03-10	-	Active	NO
6	L52110DL1989PLC037097	KOHINOOR FOODS LIMITED.	Director	29-09-14	10-11-12	-	Active	NO
7	L45201DL1983PLC016821	ANSAL HOUSING AND CONSTRUCTION LIMITED	Director	25-09-14	14-02-13	-	Active	NO
8	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	29-09-14	03-06-14	-	Active	NO
9	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	30-09-14	03-06-14	-	Active	NO

Name :

Mr. Pankaj Renjhen

Designation :

Director

Address :

P-1/11, DLF City, phase III, Gurgaon -122 002, Haryana

Qualification :

Graduate

Date of Birth/Age :

03.03.1976

Date of Appointment :

19.09.2008

DIN No.:

01809021

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	U74899DL1995PLC073261	SUDHIR GENSETS LIMITED	Director	19-09-08	09-10-07	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Director	30-09-10	23-03-10	-	Active	NO
3	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	29-09-14	03-06-14	-	Active	NO
4	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	30-09-14	03-06-14	-	Active	NO

Name :

Mr. Utsav Seth

Designation :

Director

Address :

Flat No.501, 5th Floor, Chitra Condominium, West Avenue, Santacruz West, Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

24.07.1972

Date of Appointment :

29.09.2014

DIN No.:

01480780

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	U25209PY1983PTC000239	TOKYU INDUSTRIAL PLASTICS PVT LTD	Director	15-05-92	15-05-92	08-11-06	Strike off	NO
2	U19201TN1997PLC039365	GTFC LIMITED	Additional director	21-01-14	05-11-97	-	Active	NO
3	U74140TN2002PLC049617	SUPERSIGHT INDIA LIMITED	Director	18-09-02	18-09-02	-	Strike off	NO
4	U80302TN2003PTC050205	SUNDERLAND SUPERSIGHT ACADEMY PRIVATE LIMITED	Director	20-01-03	20-01-03	11-07-07	Strike off	NO
5	U45400TN2007PTC063510	MODA LIVING SPACES PRIVATE LIMITED	Managing director	28-09-09	15-05-07	-	Active	NO
6	U45400DL2007PTC170813	Aditya Moda Realtech Private Limited	Director	27-11-07	27-11-07	18-01-11	Active	NO
7	U19201TN2008PLC066386	PAVERS ENGLAND LIMITED	Managing director	20-02-10	11-02-08	-	Active	NO
8	U51101TN2009PTC071408	STACADA RETAIL PRIVATE LIMITED	Director	22-04-09	22-04-09	28-02-14	Active	NO
9	U51900DL1989PTC176231	AMER EXIM PRIVATE LIMITED	Director	01-05-09	01-05-09	03-10-12	Active	NO
10	U19202TN2009PTC071965	LONES & YORK SHOES PRIVATE LIMITED	Director	16-06-09	16-06-09	28-02-14	Active	NO
11	U55100TN2010PTC074221	YAMUNA HOSPITALITY PRIVATE LIMITED	Director	11-01-10	11-01-10	28-02-14	Active	NO
12	U19200TN2007PTC065701	YORK SHOES PRIVATE LIMITED	Additional director	26-08-11	26-08-11	-	Active	NO
13	U74899DL1995PLC073261	SUDHIR GENSETS LIMITED	Director	29-09-14	10-03-14	-	Active	NO
14	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	29-09-14	03-06-14	-	Active	NO
15	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	30-09-14	03-06-14	-	Active	NO
16	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Director	29-09-14	03-06-14	-	Active	NO

Name :

Mr. Indu Seth

Designation :

Director

Address :

V-9/3, DLF City, Phase-3, Gurgaon-122001, Haryana, India

Date of Birth/Age :

26.11.1953

Date of Appointment :

29.09.2014

DIN No.:

00281711

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	U74899DL1995PLC073261	SUDHIR GENSETS LIMITED	Director	29-09-14	27-10-95	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Whole-time director	29-09-14	21-03-07	-	Active	NO
3	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	25-05-09	25-05-09	-	Active	NO
4	U65921DL1996PTC077710	PRUDENCE CAPITAL AND MONEY MARKETS PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
5	U45400DL2008PTC175280	SUNSHINE BUILDESTATE PRIVATE LIMITED	Director	29-09-14	15-03-14	-	Active	NO
6	U45203DL2005PTC140380	MAGNA INFRASTRUCTURE PRIVATE LIMITED	Director	25-09-14	15-03-14	-	Active	NO
7	U34103DL2004PTC128817	ALIVE AUTOMOTIVES PRIVATE LIMITED	Director	25-09-14	15-03-14	-	Active	NO
8	AAC-5119	SUDHIR REAL ESTATES LLP	Designated Partner	28-07-14	28-07-14	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kunal Malhotra
Designation :	Company Secretary
Address :	59, Sahyog Apartment, Pitmapura, Delhi-110034, India
Date of Birth/Age :	25.06.1979
Date of Appointment :	28.03.2006
PAN No.:	AIOPM1494N
Audit Committee:	Mr. Utsav Seth, Chairman Mr. Maharaj Kishen Trisal, Member Mr. Rahul Seth, Member

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares
Sudhir seth	4202079
Sudhir seth HUF	525
Indu Seth	525525
Kamala Seth	10
Rahul seth HUF	10
Rahul Seth	1
Kritika Seth	525
Total	4728675

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Diesel Generating Sets.

Products :

Product Description	ITC code
Parts of generators	85030010
Boards for voltage less than 1000 Volts	85371000
Output less than 75 KVA	85021100
Packaged Substations	85049090

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	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 :	Not Available
Contact No.:	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 :

• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
• ABN Amro Bank N.V, Hansalya Building, 15 Barakhamba Road, New Delhi - 110001, Delhi, India
• Kotak Mahindra Bank Limited, 7th Floor, Ambadeep Building, K G Marg, New Delhi - 110001, India
• HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India
• Citibank N.A, Jeevan Bharti Building, 4th Floor, 124, Connaught Circus, Connaught Place, New Delhi - 110001, India
• The Hongkong and Shanghai Banking Corporation Limited, 25, Barakhambha Road, New Delhi - 110001, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Short-term borrowings
Other loans and advances, others	21.590	233.894
Total	21.590	233.894

Banking Relations :
Auditors :
Name :	S.R. Batliboi and Associates LLP Chartered Accountants
Address :	Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon-122002, Haryana, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFS3421N
Memberships :	--
Collaborators :	--
Subsidiary Companies:	Sudhir Power Projects Limited, India [U70102DL2007PLC160912] Sudhir Sales and Services Limited, India [U31200DL2009PLC190575] Sudhir Transformers Limited, India [U85110KA1993PLC015053] Sudhir Gensets JLT , UAE Sudhir Gensets FZE , UAE Double Ess Estates Private Limited, India [U65921DL1996PTC082775]
Joint Ventures:	Consortium of Sudhir Power Projects Limited and Sudhir Gensets Limited Sudhir Tesar Private Limited, India [U31501DL2011PTC226928]
Enterprises owned or significantly influenced by key management personnel or their relatives:	S.R.Seth and Sons Alfa Impex Master Infrastructure Private Limited, India [U72200DL2005PTC136020] Sudhir Ready Gensets Consortium Sunshine Buildestate Private Limited, India [U45400DL2008PTC175280]

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions
260000000	Preference Shares	Rs.10/- each	Rs.2600.000 Millions
	Total		Rs.2750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4728675	Equity Shares	Rs.10/- each	Rs.47.287 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	47.287	47.287	2647.287
(b) Reserves & Surplus	11911.776	10851.900	9410.585
(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)	11959.063	10899.187	12057.872
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	18.290	61.900	43.620
(d) long-term provisions	2.318	0.871	1.826
Total Non-current Liabilities (3)	20.608	62.771	45.446
(4) Current Liabilities
(a) Short term borrowings	21.590	233.894	102.656
(b) Trade payables	1389.633	1385.325	1330.418
(c) Other current liabilities	496.489	294.415	480.063
(d) Short-term provisions	58.344	89.746	98.899
Total Current Liabilities (4)	1966.056	2003.380	2012.036
TOTAL	13945.727	12965.338	14115.354
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1152.579	1181.472	1209.938
(ii) Intangible Assets	10.755	9.227	5.477
(iii) Capital work-in-progress	178.902	44.372	38.892
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	967.146	533.413	1354.924
(c) Deferred tax assets (net)	10.813	11.111	17.998
(d) Long-term Loan and Advances	1727.176	1592.504	1371.583
(e) Other Non-current assets	11.464	4.571	4.025
Total Non-Current Assets	4058.835	3376.670	4002.837
(2) Current assets
(a) Current investments	6046.112	5656.361	6918.771
(b) Inventories	1618.669	1923.022	1798.735
(c) Trade receivables	1050.219	923.617	565.298
(d) Cash and cash equivalents	287.095	174.039	160.736
(e) Short-term loans and advances	754.411	758.757	616.838
(f) Other current assets	130.386	152.872	52.139
Total Current Assets	9886.892	9588.668	10112.517
TOTAL	13945.727	12965.338	14115.354

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	8993.564	10634.627	9539.776
	Other Income	605.218	844.924	643.273
	TOTAL (A)	9598.782	11479.551	10183.049
Less	EXPENSES
	Cost of Materials Consumed	7421.266	8817.938	7049.408
	Purchases of Stock-in-Trade	13.465	40.478	408.153
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(44.744)	(110.501)	35.074
	Employees benefits expense	346.273	354.980	317.422
	Other expenses	459.716	535.144	503.039
	TOTAL (B)	8195.976	9638.039	8313.096
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1402.806	1841.512	1869.953
Less	FINANCIAL EXPENSES (D)	5.163	18.285	45.217
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1397.643	1823.227	1824.736
Less/ Add	DEPRECIATION/ AMORTISATION (F)	108.598	115.248	94.868
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1289.045	1707.979	1729.868
Less	TAX (I)	229.169	206.606	317.607
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	1059.876	1501.373	1412.261
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	6911.900	5910.590	4998.630
	APPROPRIATIONS
	Interim dividend incl. dividend distribution tax	0.000	0.060	0.300
	Transfer to general reserve	500.000	500.000	500.000
	Balance Carried to the B/S	7471.780	6911.900	5910.590
	Earnings / (Loss) Per Share (Rs.)	224.17	317.49	299.00

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	11.78	14.12	14.80
Operating Profit Margin (PBIDT/Sales)	(%)	15.60	17.32	19.60
Return on Total Assets (PBT/Total Assets}	(%)	10.08	13.80	13.62
Return on Investment (ROI) (PBT/Networth)		0.11	0.16	0.14
Debt Equity Ratio (Total Debt /Networth)		0.00	0.02	0.01
Current Ratio (Current Asset/Current Liability)		5.03	4.79	5.03

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	2647.287	47.287	47.287
Reserves & Surplus	9410.585	10851.900	11911.776
Net worth	12057.872	10899.187	11959.063
long-term borrowings	0.000	0.000	0.000
Short term borrowings	102.656	233.894	21.590
Total borrowings	102.656	233.894	21.590
Debt/Equity ratio	0.009	0.021	0.002

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	9539.776	10634.627	8993.564
		11.477	(15.431)

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	9539.776	10634.627	8993.564
Profit	1412.261	1501.373	1059.876
	14.80%	14.12%	11.78%

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

NATURE OF OPERATIONS

Subject is a closely held Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is mainly engaged in the business of manufacturing and supply of diesel generating sets and associate equipments and its parts. The Company also runs a hotel at Gurgaon in the state of Haryana.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10512873	13/10/2014 *	250,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI TED	BIRLA TOWER, 25, BARAKHAMBHA ROAD, NEW DELHI, DELHI - 110001, INDIA	C28626133
2	10443757	01/08/2013	500,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI TED	25,, BARAKHAMBHA ROAD, NEW DELHI, DELHI - 110001, INDIA	B82466897
3	10444364	23/07/2013	500,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B82753237
4	10161097	17/01/2014 *	1,000,000,000.00	KOTAK MAHINDRA BANK LIMITED	7TH FLOOR, AMBADEEP BUILDING,, K G MARG, NEW DELHI, DELHI - 110001, INDIA	B95569299
5	10159748	24/09/2013 *	700,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	B87362422
6	80013566	30/08/2013 *	1,140,000,000.00	CITIBANK N.A	JEEVAN BHARTI BUILDING, 4TH FLOOR, 124, CONNAUGHT CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 11000 1, INDIA	B84619253

* Date of charge modification

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments
• Other equipments
• Leasehold improvements

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.63.39
UK Pound	1	Rs.96.85
Euro	1	Rs.75.67

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		63

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.