MIRA INFORM REPORT

Report No. :	325667
Report Date :	06.06.2015

IDENTIFICATION DETAILS

Name :	SUDHIR POWER LIMITED (w.e.f. 29.11.1995)

Formerly Known As :	SUDHIR GENSETS LIMITED

Registered Office :	507, International Trade Tower, Nehru Place, New Delhi – 110019
Tel. No.:	91-124-4168000

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 Million

CIN No.: [Company Identification No.]	U74899DL1995PLC073261

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 :	Manufacturer of Diesel, Transformers Pannels etc.

No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (61)

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 is strong and healthy. Fundamentals of the company are decent. Ratings take into consideration, healthy financial profile marked by healthy net worth, good profit margin and healthy liquidity position of the company. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment. In the view of extensive experience of promoters, the subject can be considered for business 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Ashok Sharma
Designation :	Accounts Department
Contact No.:	91-124-4168000
Date :	06.06.2015

LOCATIONS

Registered Office :	507, International Trade Tower, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-124-4168000
Fax No.:	Not Available
E-Mail :	kunnalmalhotra@sudirgensets.com

Plant :	Located At : Epip Katholi, Baribrahmna Industrial Area, Jammu and Kashmir, India

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

Date of Appointment :

27.09.2012

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 Power Limited	Managing director	27/09/2012	02/09/2006	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Managing director	29/09/2014	21/03/2007	-	Active	NO
3	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	20/09/2008	26/11/2007	-	Active	NO
4	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	25/05/2009	25/05/2009	-	Active	NO
5	U31501DL2011PTC226928	SUDHIR TESAR PRIVATE LIMITED	Director	02/11/2011	02/11/2011	-	Active	NO
6	U72200DL2005PTC136020	MASTER INFRASTRUCTURE PRIVATE LIMITED	Director	15/03/2014	15/03/2014	-	Active	NO
7	U65921DL1996PTC077710	PRUDENCE CAPITAL AND MONEY MARKETS PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
8	U70100DL2013PTC247867	A2Z INFRAHEIGHTS PRIVATE LIMITED	Director	27/09/2014	15/03/2014	-	Active	NO
9	U45201DL2005PTC136318	HEIGHTS INFRASTRUCTURE PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
10	U45203DL2005PTC140380	MAGNA INFRASTRUCTURE PRIVATE LIMITED	Director	25/09/2014	15/03/2014	-	Active	NO
11	U74899DL1989PTC035027	PERFECT COMMERCIAL PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
12	U45201DL2004PTC128188	AVYA DEVELOPERS PRIVATE LIMITED	Director	25/09/2014	15/03/2014	-	Active	NO
13	U45400DL2008PTC175280	SUNSHINE BUILDESTATE PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
14	AAC-5119	SUDHIR REAL ESTATES LLP	Designated Partner	28/07/2014	28/07/2014	-	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

Date of Appointment :

27.09.2012

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 Power Limited	Managing director	27/09/2012	14/08/1997	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Managing director	29/09/2014	21/03/2007	-	Active	NO
3	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	20/09/2008	26/11/2007	-	Active	NO
4	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	25/05/2009	25/05/2009	-	Active	NO
5	U45400DL2008PTC175280	SUNSHINE BUILDESTATE PRIVATE LIMITED	Director	29/07/2011	10/09/2010	-	Active	NO
6	U31501DL2011PTC226928	SUDHIR TESAR PRIVATE LIMITED	Director	02/11/2011	02/11/2011	-	Active	NO
7	U18109DL2012PTC239929	KHLOE RETAIL PRIVATE LIMITED	Director	07/08/2012	07/08/2012	-	Active	NO
8	U70100DL2013PTC247867	A2Z INFRAHEIGHTS PRIVATE LIMITED	Director	27/09/2014	15/03/2014	-	Active	NO
9	U34103DL2004PTC128817	ALIVE AUTOMOTIVES PRIVATE LIMITED	Director	25/09/2014	15/03/2014	-	Active	NO
10	U45201DL2005PTC136318	HEIGHTS INFRASTRUCTURE PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
11	U72200DL2005PTC136020	MASTER INFRASTRUCTURE PRIVATE LIMITED	Director	25/09/2014	15/03/2014	-	Active	NO
12	U74899DL1989PTC035027	PERFECT COMMERCIAL PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
13	AAC-5119	SUDHIR REAL ESTATES LLP	Designated Partner	28/07/2014	28/07/2014	-	Active	NO

Name :

Mrs. Indu Seth

Designation :

Director

Address :

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

Date of Birth/Age :

25.10.1955

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 Power Limited	Director	29/09/2014	27/10/1995	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Whole-time director	29/09/2014	21/03/2007	-	Active	NO
3	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	25/05/2009	25/05/2009	-	Active	NO
4	U65921DL1996PTC077710	PRUDENCE CAPITAL AND MONEY MARKETS PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
5	U34103DL2004PTC128817	ALIVE AUTOMOTIVES PRIVATE LIMITED	Director	25/09/2014	15/03/2014	-	Active	NO
6	U45203DL2005PTC140380	MAGNA INFRASTRUCTURE PRIVATE LIMITED	Director	25/09/2014	15/03/2014	-	Active	NO
7	U45400DL2008PTC175280	SUNSHINE BUILDESTATE PRIVATE LIMITED	Director	29/09/2014	15/03/2014	-	Active	NO
8	AAC-5119	SUDHIR REAL ESTATES LLP	Designated Partner	28/07/2014	28/07/2014	-	Active	NO

Name :

Mr. Maharaj Kishen Trisal

Designation :

Whole-time Director

Address :

V-9/3, DLF City Phase – 3, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

26.11.1953

Date of Appointment :

16.12.2014

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 Power Limited	Whole-time director	16/12/2014	01/03/2006	-	Active	NO
2	U31909HR1994FTC032429	Marathon Electric India Private Limited	Director	29/09/2006	29/09/2006	31/12/2013	Active	NO
3	U40101DL1997PLC088255	RBC Motors India Limited	Additional director	02/11/2007	02/11/2007	-	Amalgamated	NO
4	U29120WB2004PLC098278	Marathon Electric Motors (India) Limited	Director	30/12/2008	02/11/2007	31/12/2013	Active	NO
5	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Director	16/12/2014	23/03/2010	-	Active	NO
6	L52110DL1989PLC037097	KOHINOOR FOODS LIMITED.	Director	29/09/2014	10/11/2012	-	Active	NO
7	L45201DL1983PLC016821	ANSAL HOUSING AND CONSTRUCTION LIMITED	Director	25/09/2014	14/02/2013	-	Active	NO
8	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	16/12/2014	03/06/2014	-	Active	NO
9	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	16/12/2014	03/06/2014	-	Active	NO

Name :

Mr. Pankaj Renjhen

Designation :

Director

Address :

P-1/11, DLF City Phase – ll, Gurgaon – 122002, Haryana, India

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 Power Limited	Director	19/09/2008	09/10/2007	-	Active	NO
2	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Director	30/09/2010	23/03/2010	-	Active	NO
3	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	30/09/2014	03/06/2014	-	Active	NO
4	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	29/09/2014	03/06/2014	-	Active	NO

Name :

Mr. Utsav Seth

Designation :

Director

Address :

Flat No. 501, 5^th 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	15/05/1992	15/05/1992	08/11/2006	Strike off	NO
2	U19201TN1997PLC039365	GTFC LIMITED	Additional director	21/01/2014	05/11/1997	-	Active	NO
3	U74140TN2002PLC049617	SUPERSIGHT INDIA LIMITED	Director	18/09/2002	18/09/2002	-	Strike off	NO
4	U80302TN2003PTC050205	SUNDERLAND SUPERSIGHT ACADEMY PRIVATE LIMITED	Director	20/01/2003	20/01/2003	11/07/2007	Strike off	NO
5	U45400TN2007PTC063510	MODA LIVING SPACES PRIVATE LIMITED	Managing director	28/09/2009	15/05/2007	-	Active	NO
6	U45400DL2007PTC170813	Aditya Moda Realtech Private Limited	Director	27/11/2007	27/11/2007	18/01/2011	Active	NO
7	U19201TN2008PLC066386	PAVERS ENGLAND LIMITED	Managing director	20/02/2010	11/02/2008	-	Active	NO
8	U51101TN2009PTC071408	STACADA RETAIL PRIVATE LIMITED	Director	22/04/2009	22/04/2009	28/02/2014	Active	NO
9	U51900DL1989PTC176231	AMER EXIM PRIVATE LIMITED	Director	01/05/2009	01/05/2009	03/10/2012	Active	NO
10	U19202TN2009PTC071965	LONES & YORK SHOES PRIVATE LIMITED	Director	16/06/2009	16/06/2009	28/02/2014	Active	NO
11	U55100TN2010PTC074221	YAMUNA HOSPITALITY PRIVATE LIMITED	Director	11/01/2010	11/01/2010	28/02/2014	Active	NO
12	U19200TN2007PTC065701	YORK SHOES PRIVATE LIMITED	Additional director	26/08/2011	26/08/2011	15/12/2014	Active	NO
13	U74899DL1995PLC073261	Sudhir Power Limited	Director	29/09/2014	10/03/2014	-	Active	NO
14	U70102DL2007PLC160912	SUDHIR POWER PROJECTS LIMITED	Director	29/09/2014	03/06/2014	-	Active	NO
15	U85110KA1993PLC015053	SUDHIR TRANSFORMERS LIMITED	Director	30/09/2014	03/06/2014	-	Active	NO
16	U31200DL2009PLC190575	SUDHIR SALES & SERVICES LIMITED	Director	29/09/2014	03/06/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kunnal Malhotra
Designation :	Secretary
Address :	59, Sahyog Apartments, Pitampura, Delhi – 110034, India
Date of Birth/Age :	25.06.1979
Date of Appointment :	08.03.2006
PAN No.:	AIOPM1494N

Name :	Mr. Ashok Sharma
Designation :	Accounts Department

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

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 of Diesel, Transformers Pannels etc.

Products :

Item Code No.	Product Description
85030010	Parts for Heading 8502
85371000	Boards for voltage less than 1000 volts
85021100	Output less than 75 KVA
85049090	Packaged substations

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Cheque and Credit (60 and 90 Days)

Purchasing :

Cheque and Credit (60 and 90 Days)

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 :

500 (Approximately)

Bankers :

Banker Name	Kotak Mahindra Bank Limited
Branch Address	7^th Floor, Ambadeep Building, K.G. Marg, New Delhi – 110001, 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

HDFC Bank, New Delhi, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT TERM BORROWINGS
Other loans and advances	21.590	233.894
Total	21.590	233.894


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 No.:	AABFS3421N

Memberships :	Not Available

Collaborators :	Not Available

Subsidiary Companies :	Sudhir Power Projects Limited Sudhir Sales and Services Limited Sudhir Transformers Limited Sudhir Gensets JLT , UAE Sudhir Gensets FZE , UAE Double Ess Estates Private Limited

Joint Ventures :	Consortium of Sudhir Power Projects Limited and Sudhir Gensets Limited Sudhir Tesar Private Limited

Enterprises owned or significantly influenced by key management personnel or their relatives :	S.R.Seth & Sons Alfa Impex Master Infrastructure Private Limited Sudhir Ready Gensets Consortium Sunshine Buildestate Private Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount

15000000	Equity Shares	Rs. 10/- each	Rs. 150.000 Million
260000000	Preference Shares	Rs. 10/- each	Rs. 2600.000 Million
	Total		Rs. 2750.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

4728675	Equity Shares	Rs. 10/- each	Rs. 47.287 Million

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	10851.899	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	10899.186	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	61.901	43.620
(d) long-term provisions	2.318	0.871	1.826
Total Non-current Liabilities (3)	20.608	62.772	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	4.572	4.025
Total Non-Current Assets	4058.835	3376.671	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	174.038	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	9588.667	10112.517

TOTAL	13945.727	12965.338	14115.354

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	8993.565	10634.627	9539.776
	Other Income	605.218	844.924	643.273
	TOTAL (A)	9598.783	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	503.040
	TOTAL (B)	8195.976	9638.039	8313.097

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1402.807	1841.512	1869.952

Less	FINANCIAL EXPENSES (D)	5.163	18.285	45.217

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1397.644	1823.227	1824.735

Less/ Add	DEPRECIATION/ AMORTISATION (F)	108.598	115.248	94.868

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1289.046	1707.979	1729.867

Less	TAX (H)	229.170	206.606	317.606

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	1059.876	1501.373	1412.261

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (J)	6911.900	5910.590	4998.630

Less	APPROPRIATIONS
	Transfer to General Reserve	500.000	500.000	500.000
	Interim dividend incl. dividend distribution tax	0.000	0.060	0.300
	Total (K)	500.000	500.060	500.300

	Balance Carried to the B/S (I+J-K)	7471.776	6911.903	5910.591

	EARNINGS IN FOREIGN CURRENCY	71.600	97.290	31.470

	Earnings / (Loss) Per Share (Rs.)	224.14	317.49	266.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Cash generated from operations

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 Liability/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 Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	2647.287	47.287	47.287
Reserves & Surplus	9410.585	10851.899	11911.776
Share Application money pending allotment	0.000	0.000	0.000
Net worth	12057.872	10899.186	11959.063

long-term borrowings	0.000	0.000	0.000
Short term borrowings	102.656	233.894	21.590
Current Maturities of Long Term Debt	0.000	0.000	0.000
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 Million)	(Rs. In Million)	(Rs. In Million)
Sales	9539.776	10634.627	8993.565
		11.477	(15.431)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	9539.776	10634.627	8993.565
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	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10512873	04/03/2015 *	250,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	BIRLA TOWER, 25, BARAKHAMBHA ROAD, NEW DELHI, DELHI - 110001, INDIA	C46168878
2	10443757	01/08/2013	500,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	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

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

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. 63.90
UK Pound	1	Rs. 97.98
Euro	1	Rs. 71.82

INFORMATION DETAILS

Information Gathered by :	MNJ

Analysis Done by :	SAN

Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--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		61

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.

MIRA INFORM REPORT

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