MIRA INFORM REPORT

Report No. :	327005
Report Date :	11.06.2015

IDENTIFICATION DETAILS

Name :	PENNA CEMENT INDUSTRIES LIMITED (w.e.f. 26.07.2012)
Formerly Known as :	PENNA CEMENT INDUSTRIIES LIMITED
Registered Office :	H. No. 8-2-268/A/1/S and S1, Plot No. 705, Road No. 3, Banjara Hills, Hyderabad – 500034, Telangana
Tel No :	91-40-44565100
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.10.1991
Com. Reg. No.:	01-013359
Capital Investment / Paid-up Capital :	Rs.133.800 Million
CIN No.: [Company Identification No.]	U26942AP1991PLC013359
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	HYDP00534C
PAN No.: [Permanent Account No.]	AABCP2290D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of wide range of Cement like Ordinary Portland Cement, Portland Pozzolana Cement, Portland Slag Cement, etc.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (60)

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

Maximum Credit Limit :	USD 36000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. Sales turnover of the company has declined which has resulted into dip in profit of the company during 2014. However, the rating reflects company’s healthy financial risk profile marked by adequate liquidity position and extensive industry experience of the promoters. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view decent financial base, the company can be considered good for normal 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 A+
Rating Explanation	Adequate degree of safety and low credit risk.
Date	07.01.2015

Rating Agency Name	CARE
Rating	Short Term Bank Facilities A1
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	07.01.2015

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. Ramesh Kumar
Designation :	External Manager
Contact No.:	91-40-44565100
Date :	06.05.2015

LOCATIONS

Registered Office :	H. No. 8-2-268/A/1/S and S1, Plot No. 705, Road No. 3, Banjara Hills, Hyderabad – 500034, Telangana, India
Tel. No.:	91-40-44565100
Fax No.:	91-40-23353947/ 23328073/ 23355941
E-Mail :	cs@pennacement.com bookings@pennacement.com
Website :	http://www.pennacement.com
Location :	Owned
Locality :	Commercial
Factory :	Sriniketan Colony, Lakshmi nivas, Road No. 3, Banjara Hills, Hyderabad – 500034, Telangana, India
Branch Offices :	Located At: · Andhra Pradesh   · Maharashtra · Karnataka   · Tamilnadu   · Goa   · Kerala

DIRECTORS

As on : 20.08.2014

Name :

Mr. Puttamreddy Prathap Reddy

Designation :

Chairman and Managing Director

Address :

8-2-309/M/1 to 4, Navodaya Colony, Road 14, Banjara Hills, Hyderabad – 500034, Telangana, India

Date of Birth/Age :

06.04.1958

Date of Appointment :

01.09.2012

PAN No.:

AFIPP8044A

DIN No.:

00093176

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65990TG1986PLC006362	P R CEMENT HOLDIINGS LIMITED	Director	07/04/1986	07/04/1986	-	Active	NO
2	U45200TG1989PLC010055	PIONEER HOLIDAY RESORRTS LIMITED	Director	26/05/1989	26/05/1989	-	Active	NO
3	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Managing director	01/09/2012	24/10/1991	-	Active	NO
4	U40109TG1995PLC019352	TRIDENT POWER SYSTEMS LIMITED	Director	29/08/1997	29/08/1997	21/11/2011	Active	NO
5	U23209TG1998PLC028777	PIONEER REFINERY LIMITED	Director	22/01/1998	22/01/1998	18/10/2010	Active	NO
6	U40109TG1997PLC027846	SRIBA INDUSTTRIES LIMITED	Director	29/09/1999	29/09/1999	10/10/2010	Active	NO
7	U26942TG1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	18/12/2000	18/12/2000	-	Active	NO
8	U40109TG2001PLC038231	PIONEER GENCO LIMITED	Director	19/12/2001	19/12/2001	-	Active	NO
9	U40109TG2002PLC039289	PIONEER POWER CORPORATION LIMITED	Director	11/07/2002	11/07/2002	-	Active	NO
10	U40100TG1998PLC030368	PIONEER POWER LIMITED	Director	29/06/2012	05/09/2002	-	Active	NO
11	U24111TG1988PLC009231	ANDHRA PRADESH GAS POWER CORPORATION LIMITED	Director	23/12/2002	23/12/2002	-	Active	NO
12	U40101HP1994PLC014180	OM HYDROPOWER LIMITED	Director	08/09/2004	08/09/2004	29/06/2012	Active	NO
13	U45200TG2004PLC044828	PIONEER BUILDERRS LIMITED	Director	29/06/2012	09/12/2004	-	Active	NO
14	U60231TG2006PLC048786	P R ENERRGY HOLDING LIMITED	Director	16/01/2006	16/01/2006	29/06/2012	Active	NO
15	U27100AP2008PLC062127	PENNA STEELS LIMITED	Director	08/12/2008	08/12/2008	25/10/2010	Active	NO
16	U74999AP2007PLC053278	ANRAK ALUMINIUM LIMITED	Director	30/09/2010	03/12/2009	-	Active	NO
17	U26941TG2010PLC070651	PIONEER CEMENT INDUSTRIES LIMITED	Director	30/09/2010	30/09/2010	28/02/2015	Active	NO
18	U45209TG2010PLC070693	ANRAK SEAPORTSS LIMITED	Director	04/10/2010	04/10/2010	26/02/2015	Active	NO
19	U40300TG2012PLC084566	PIONEER JK HYDROPOWER LIMITED	Director	04/12/2012	04/12/2012	26/02/2015	Active	NO

Name :

Mr. Puttamreddy Venugopal Reddy

Designation :

Director

Address :

Plot No.702, Sriniketan Colony, Banjara Hills, Hyderabad – 500034, Telangana, India

Date of Birth/Age :

17.04.1953

Date of Appointment :

01.01.2001

DIN No.:

00094146

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	U40109TG1997PLC027846	SRIBA INDUSTTRIES LIMITED	Director	29/09/1999	29/09/1999	-	Active	NO
2	U72200TG2000PLC034155	E-VISION SOFTECH INDIA LIMITED	Director	31/03/2000	31/03/2000	26/02/2015	Active	NO
3	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	01/01/2001	01/01/2001	-	Active	NO
4	U40109TG2001PLC038231	PIONEER GENCO LIMITED	Director	19/12/2001	19/12/2001	31/03/2015	Active	NO
5	U40100TG1998PLC030368	PIONEER POWER LIMITED	Director	05/09/2002	05/09/2002	-	Active	NO
6	U74120TG2003PLC040545	PCIL Power and Holdings Limited	Director	20/02/2003	20/02/2003	26/02/2015	Active	NO
7	U26940TG1996PLC024558	SHRI VIJAY LAKSHMI INDUSTRIES LIMITED	Director	11/12/2003	11/12/2003	-	Amalgamated	NO
8	U45200TG2004PLC044828	PIONEER BUILDERRS LIMITED	Whole-time director	01/04/2010	09/12/2004	-	Active	NO
9	U60231TG2006PLC048786	P R ENERRGY HOLDING LIMITED	Director	16/01/2006	16/01/2006	-	Active	NO
10	U27100AP2008PLC062127	PENNA STEELS LIMITED	Director	08/12/2008	08/12/2008	-	Active	NO
11	U26941TG2010PLC070651	PIONEER CEMENT INDUSTRIES LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
12	U14220TG2011PLC072016	TRISHUL CEMENT INDUSTRIES INDIA LIMITED	Director	03/01/2011	03/01/2011	-	Active	NO
13	U40102TG2009PLC064620	LAKSHMI JALAVIDYUT (KRISHNA) LIMITED	Director	31/08/2012	16/07/2012	-	Active	NO
14	U26942TG1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Director	29/09/2012	07/09/2012	-	Active	NO

Name :

Mr. Bezawada Vikram

Designation :

Whole-Time Director

Address :

H.NO. 8-2-309/M/6, Road No. 14, Banjara Hills, Hyderabad – 500034, Telangana, India

Date of Birth/Age :

01.05.1978

Date of Appointment :

01.09.2012

PAN No.:

AHKPB5779N

DIN No.:

02086809

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	U40106TG2008PLC058374	COOLROCKS ENERGY LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
2	U74900TG2007PLC054981	KRSHNA HYDRO ENERGY LIMITED	Director	26/02/2015	04/04/2008	-	Active	NO
3	U40100TG1998PLC030368	PIONEER POWER LIMITED	Director	31/08/2012	24/10/2008	-	Active	NO
4	U72200TG2000PLC034262	COOLROC TECHNOLOGIES LIMITED	Director	28/09/2012	02/04/2009	-	Active	NO
5	U40102TG2009PLC064620	LAKSHMI JALAVIDYUT (KRISHNA) LIMITED	Director	04/08/2009	04/08/2009	01/08/2012	Active	NO
6	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Whole-time director	01/09/2012	28/06/2010	-	Active	NO
7	U26941TG2010PLC070651	PIONEER CEMENT INDUSTRIES LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
8	U40109TG1997PLC027846	SRIBA INDUSTTRIES LIMITED	Director	30/09/2011	10/10/2010	-	Active	NO
9	U24232TG2010PLC070871	PIONEER CHEMICALS LIMITED	Director	15/10/2010	15/10/2010	-	Active	NO
10	U23209TG1998PLC028777	PIONEER REFINERY LIMITED	Director	30/12/2010	18/10/2010	-	Active	NO
11	U40108TG2012PLC085160	KAMENG ENERGY LIMITED	Director	31/12/2012	31/12/2012	-	Active	NO

Name :

Mr. Munikrishna Papagari

Designation :

Director

Address :

H. No. 8-2-293/82/JIII/392, Plot No. 392, Phase – III, road No. 81, Jubilee Hills, Hyderabad – 500033, Telangana, India

Date of Birth/Age :

01.02.1944

Date of Appointment :

10.02.1992

DIN No.:

00011580

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	10/02/1992	10/02/1992	-	Active	NO
2	U65993TG1995PTC022421	SUBHADRA INVESTMENTS PRIVATE LIMITED	Director	29/11/1995	29/11/1995	-	Active	NO
3	U17110TG1995PLC021374	MYK SPINNING INDUSTRIES LIMITED	Managing director	01/04/2011	24/07/1996	-	Active	NO
4	U51909TG1998PLC029396	REITZ INDIA LIMITED	Director	13/05/1998	13/05/1998	-	Active	NO
5	U26942TG1978PLC002288	RAASI CEMENT LIMITED	Director	04/06/1998	04/06/1998	15/03/2008	Active	NO
6	U72200TG1998PTC029812	POINTSOFT PRIVATE LIMITED	Director	23/07/1998	23/07/1998	19/09/2007	Active	NO
7	U01122TG1992PTC014781	SHREE SAI GARDENS PVT. LTD.	Director	25/08/1999	25/08/1999	-	Active	NO
8	U99999TG1999PTC031624	MYK LATICRETE INDIA PRIVATE LIMITED	Director	21/10/1999	21/10/1999	-	Active	NO
9	U26942TG1993PLC015764	PARASAKTI CEMENT INDUSTRIES LIMITED	Managing director	18/12/2000	18/12/2000	-	Active	NO
10	U24114TG2006PTC050128	MYK SCHOMBURG INDIA PRIVATE LIMITED	Director	16/05/2006	16/05/2006	-	Active	NO
11	U65990TG2008PTC061323	MYK HOLDINGS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	-	Active	NO

Name :

Mr. Yeratapalli Santoshkumar Reddy

Designation :

Director

Address :

Plot No.275, MLA and MPs colony, Road No.10c, J Hills, Hyderabad – 500033, Telangana, India

Date of Birth/Age :

01.07.1950

Date of Appointment :

29.09.2008

DIN No.:

00015092

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	U27203TG1990PLC011834	ENNAAR ALUMINIUM LIMITED	Director	09/10/1990	09/10/1990	-	Strike off	NO
2	U65993TG1991PTC012442	SRI VISHNAVI INVESTMENTS PVT.LTD.	Director	12/03/1991	12/03/1991	03/06/2014	Active	NO
3	L23100TG1989PLC010655	RAIN CALCINING LTD.	Whole-time director	30/05/2007	01/08/1992	-	Amalgamated	NO
4	U05005TG1993PLC016493	LAKSHMI SEA FOODS LIMITED	Director	27/10/1993	27/10/1993	28/09/2008	Active	NO
5	U65999TG1995PTC019589	YERETAPALLI INVESTMENTS PRIVATE LIMITED	Director	02/03/1995	02/03/1995	03/06/2014	Active	NO
6	U65921TG1995PTC019609	SIRIUS TRANSPORT AND CONSTRUCTION PRIVATE LIMITED	Director	06/03/1995	06/03/1995	29/04/2011	Active	NO
7	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	29/09/2008	27/09/2007	-	Active	NO
8	U23209TG1999PLC031631	RAIN CEMENTS LIMITED	Whole-time director	01/04/2008	24/11/2007	10/02/2011	Active	NO
9	U11100TG2008PLC058785	RAIN CII CARBON (VIZAG) LIMITED	Managing director	20/02/2012	23/04/2008	26/02/2015	Active	NO
10	U24110TG2008PLC058852	SANVIRA INDUSTRIES LIMITED	Additional director	06/05/2015	25/04/2008	-	Active	NO

Name :

Ms. Lakshmi Kantham Dabbara

Designation :

Whole-Time Director

Address :

Plot No. 20, Flat No. 101, Padmajalaya Apartments, Srinagar Colony, Hyderabad - 500 073, Telangana, India

Date of Birth/Age :

10.05.1951

Date of Appointment :

01.09.2012

DIN No.:

00822385

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Whole-time director	01/09/2012	08/09/2006	-	Active	NO
2	U26913MH2008PLC183618	MARWAR CEMENT LIMITED	Director	30/09/2014	10/10/2013	-	Active	NO
3	U74999AP2007PLC053278	ANRAK ALUMINIUM LIMITED	Director	05/03/2015	05/03/2015	-	Active	NO

Name :

Mr. Petluru Venugopal Reddy

Designation :

Whole Time Director

Address :

H. No. 3-4-615, Flat No. 203, Megacity Residency, narayanguda, Hyderabad – 500029, Telangana, India

Date of Birth/Age :

20.07.1965

Date of Appointment :

27.02.2015

DIN No.:

00019878

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	L26942TG1974PLC001693	RAIN INDUSTRIES LIMITED	Director	25/11/2005	25/11/2005	29/07/2011	Active	NO
2	U23209TG1999PLC031631	RAIN CEMENTS LIMITED	Director	27/01/2011	08/02/2007	23/07/2011	Active	NO
3	U40106TG2008PLC058374	COOLROCKS ENERGY LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
4	U74900TG2007PLC054981	KRSHNA HYDRO ENERGY LIMITED	Director	25/08/2008	04/04/2008	-	Active	NO
5	U72200TG2000PLC034262	COOLROC TECHNOLOGIES LIMITED	Director	28/09/2012	02/04/2009	-	Active	NO
6	U11100TG2008PLC058785	RAIN CII CARBON (VIZAG) LIMITED	Director	14/02/2011	10/01/2011	28/07/2011	Active	NO
7	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	27/02/2015	29/06/2013	-	Active	NO
8	U45200TG1989PLC010055	PIONEER HOLIDAY RESORRTS LIMITED	Director	30/03/2015	02/09/2013	-	Active	NO
9	U60231TG2006PLC048786	P R ENERRGY HOLDING LIMITED	Director	30/03/2015	03/09/2013	-	Active	NO

Name :

Ms. P. Deepthi Reddy

Designation :

Director

Address :

H.No. 8-2-309/M/6, road no. 14, Navodaya Colony, Banjara Hills, Hyderabad – 500034, Telangana, India

Date of Birth/Age :

29.11.1983.

Date of Appointment :

20.08.2014

DIN No.:

00264481

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	U45200TG1989PLC010055	PIONEER HOLIDAY RESORRTS LIMITED	Director	16/05/2005	16/05/2005	-	Active	NO
2	U40106TG2008PLC058374	COOLROCKS ENERGY LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
3	U72200TG2000PLC034262	COOLROC TECHNOLOGIES LIMITED	Director	28/09/2012	02/04/2009	-	Active	NO
4	U40109TG2001PLC038231	PIONEER GENCO LIMITED	Managing director	30/03/2015	08/07/2009	-	Active	NO
5	U40102TG2009PLC064620	LAKSHMI JALAVIDYUT (KRISHNA) LIMITED	Director	04/08/2009	04/08/2009	01/08/2012	Active	NO
6	U26942AP1991PLC013359	PENNA CEMENT INDUSTRIES LIMITED	Director	20/08/2014	20/08/2014	-	Active	NO
7	U65990TG1986PLC006362	P R CEMENT HOLDIINGS LIMITED	Director	29/09/2014	29/09/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ramesh Kumar
Designation :	External Manager
Name :	Mr. Raj Kumar Singh
Designation :	Secretary
Address :	31, Rudra Nagar Colony, Lothkunta, Secunderabad – 500015, Hyderabad, Telangana, India
Date of Birth/Age :	23.03.1975
Date of Appointment :	07.11.2011
PAN No.:	AODPS4886F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 20.08.2014

Names of Shareholders	No. of Shares
P.Prathap Reddy	1358500
P.Prathap Reddy (HUF)	45000
P.Prathap Reddy, Partner, Pioneer Builders, Hyd.	7009480
P.V.Lakshmi	75000
Deepthi.P	25000
Divya Priyanka.P	40000
P.Padmaja	35000
P.Ramesh Reddy	60000
P.Venugopal Reddy	30000
Chandana.P	35000
Neelima.P	35000
Niharika.P	50000
Nirupama.P	40000
J.C. Samyuktha Reddy	40000
P.Supriya	15000
Priti.P	6000
N.Radha Krishna Reddy	210
P.R. Cement Holdiings Limited	4460110
Arunachala Holdings Private Limited	2500
Anubhav Gupta	1000
Dalip Kumar Gupta	1000
Sudhir Kumar Gupta	1000
Anil Kumar Gupta	1000
Shankuntla Gupta	1000
Sheela Devi	1100
Rajeev Gupta	1000
Vijay Gupta	1000
Sanjeev Kumar Gupta	1900
Venkata Surya Narasimha Raju P.	300
S.Rajan	100
P.L.N.Srinivas	100
Usha Sobhan Kumar	200
Sunil Chandra Reddy	2500
Prabhakar Reddy.R	5000
Total	13380000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	33.35
Directors or relatives of Directors	66.47
Other top fifty shareholders	0.18
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of wide range of Cement like Ordinary Portland Cement, Portland Pozzolana Cement, Portland Slag Cement, etc.

Products :

Product Description	Item Code No. (ITC Code)
Cement	10110
Power	1011090

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Singravali Corain
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 :

Manufacturer

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 :

200 (Approximately)

Bankers :

· Bank of India, Khairatabad Branch, Hyderabad - 500004, Telangana, India

· State Bank of India, Corporate Accounts Group Branch - 13039, 'Ozone', 2nd Floor, 6-3-669, Punjagutta, Main Road, Hyderabad - 500082, Telangana, India

· IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

· Syndicate Bank - Corporate Finance Branch, 6-3-666, 1st Floor, Lumbini Towers, Opposite Nims , Punjagutta, Hyderabad - 500082, Telangana, India

· Standard Chartered Bank, 6-3-1090, Raj Bhavan Road, Somajiguda, Hyderabad - 500082, Telangana, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from banks	817.600	797.100
Term loan from others	1455.000	1873.300
SHORT TERM BORROWING
Loans repayable on demand	1916.800	1279.500
Total	4189.400	3949.900

Auditors :
Name :	C. Ramachandram and Company Chartered Accountant
Address :	3-6-237,606,La Nuilde Complex, Himayathnagar, Hyderabad, Telangana, India
PAN No.:	AABFC4266H
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary : (As on 31.04.2014)	Pioneer Cement Industries Limited, India U26941TG2010PLC070651 Penna Global Investments FZ-LLC
Associate : (As on 31.04.2014)	Parasakti Cement Industries Limited,, india Anrak Aluminum Limited,, India U74999AP2007PLC053278 Anrak Sea Ports Limited, India
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives : (As on 31.04.2014)	Pioneer Builders, India Pioneer Builderrs Limited, India U45200TG2004PLC044828 Pioneer Estates, India Pioneer Genco Limited, India U40109TG2001PLC038231 Pioneer Holiday Resorrts Limited, India U45200TG1989PLC010055 Pioneer Power Corporation Limited, India U40109TG2002PLC039289 Pioneer Power Limited, India U40100TG1998PLC030368 P R Enerrgy Holding Limited, India U60231TG2006PLC048786 Krshna Hydro Energy Limited, India U74900TG2007PLC054981 Lakshmi Jalavidyut (Krishna) Limited, India U40102TG2009PLC064620
Party having Significant Influence : (As on 31.04.2014)	Pioneer Builderrs Limited Pioneer Builders Sriba Industries Limited Pioneer Power Ltd P R Enerrgy Holdings Limited Pioneer Power Corporation Limited Pioneer Genco Limited Om Hydro Power Limited Krshna Hydro Energy Limited Lakshmi Jalavidyut(Krishna) Limited Pioneer Holiday Resorrts Limited Pioneer Estates E Vision Softech India Limited P.R. Cement Holdiings Limited

CAPITAL STRUCTURE

As on : 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
75000000	Equity Shares	Rs.10/- each	Rs. 750.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13380000	Equity Shares	Rs.10/- each	Rs. 138.800 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	133.800	133.800	133.800
(b) Reserves & Surplus	12474.500	11921.400	10545.000
(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)	12608.300	12055.200	10678.800
(3) Non-Current Liabilities
(a) long-term borrowings	2272.600	2670.400	2183.900
(b) Deferred tax liabilities (Net)	1610.800	1584.000	1491.900
(c) Other long term liabilities	4934.300	4358.600	4919.800
(d) long-term provisions	38.700	31.900	29.900
Total Non-current Liabilities (3)	8856.400	8644.900	8625.500
(4) Current Liabilities
(a) Short term borrowings	1916.800	1279.500	961.000
(b) Trade payables	1129.600	961.100	669.600
(c) Other current liabilities	2033.800	1926.500	1996.900
(d) Short-term provisions	198.400	651.300	41.500
Total Current Liabilities (4)	5278.600	4818.400	3669.000
TOTAL	26743.300	25518.500	22973.300
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	11568.300	12049.800	12451.400
(ii) Intangible Assets	28.800	34.800	0.000
(iii) Capital work-in-progress	2147.500	1661.600	2045.400
(iv) Intangible assets under development	0.000	0.000	9.500
(b) Non-current Investments	5626.200	4592.800	4296.900
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	360.000	336.800	283.600
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	19730.800	18675.800	19086.800
(2) Current assets
(a) Current investments	0.000	50.200	190.000
(b) Inventories	2300.300	1302.000	1196.500
(c) Trade receivables	979.900	1147.500	557.000
(d) Cash and cash equivalents	207.500	337.100	235.000
(e) Short-term loans and advances	1665.600	2096.200	217.000
(f) Other current assets	1859.200	1909.700	1491.000
Total Current Assets	7012.500	6842.700	3886.500
TOTAL	26743.300	25518.500	22973.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	15626.000	19416.300	17316.200
		Other Income	135.600	68.900	1417.500
		TOTAL	15761.600	19485.200	18733.700
Less	EXPENSES
		Cost of Materials Consumed	3119.400	3378.300	2894.600
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(103.200)	(47.100)	(82.800)
		Employees benefits expense	550.000	484.800	457.600
		Other expenses	10090.000	12194.900	10286.000
		Exceptional Item	(7.700)	11.000	0.000
		TOTAL	13648.500	16021.900	13555.400
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		2113.100	3463.300	5178.300
Less	FINANCIAL EXPENSES		687.300	623.300	731.600
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1425.800	2840.000	4446.700
Less/ Add	DEPRECIATION/ AMORTISATION		721.500	717.100	664.900
	PROFIT/(LOSS) BEFORE TAX		704.300	2122.900	3781.800
Less	TAX		112.100	715.100	1022.500
	PROFIT/(LOSS) AFTER TAX		592.200	1407.800	2759.300
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10202.700	9184.100	6813.700
Less	APPROPRIATIONS
		General Reserve	350.000	350.000	350.000
		Proposed Dividend	33.500	33.500	33.500
		Tax on Dividend	5.700	5.700	5.400
		TOTAL	389.200	389.200	388.900
	BALANCE CARRIED TO THE B/S		10405.700	10202.700	9184.100
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.000	0.000	1339.000
		Commission Earnings	0.000	0.000	0.000
	TOTAL EARNINGS		0.000	0.000	1339.000
	Earnings Per Share (Rs.)		44.26	105.22	206.23

Particulars	31.03.2015
Sales Turnover	25000.000

The above information has been parted by Mr. Ramesh Kumar (External Manager)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	1396.900	1433.000	1678.400
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	3.79	7.25	15.93
Operating Profit Margin (PBDIT / Sales)	(%)	13.52	17.84	29.90
Return on Total Assets (PBT/Total Assets}	(%)	3.71	11.02	22.75
Return on Investment (ROI) (PBT/Networth)		0.06	0.18	0.35
Debt Equity Ratio (Total Debt /Networth)		0.44	0.45	0.45
Current Ratio (Current Asset/Current Liability)		1.33	1.42	1.06

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	133.800	133.800	133.800
Reserves & Surplus	10545.000	11921.400	12474.500
Net worth	10678.800	12055.200	12608.300
long-term borrowings	2183.900	2670.400	2272.600
Short term borrowings	961.000	1279.500	1916.800
Current Maturities of Long-Term Debts	1678.400	1433.000	1396.900
Total borrowings	4823.300	5382.900	5586.300
Debt/Equity ratio	0.452	0.447	0.443

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	17316.200	19416.300	15626.000
		12.128	(19.521)

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	17316.200	19416.300	15626.000
Profit	2759.300	1407.800	592.200
	15.93%	7.25%	3.79%

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	Yes
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	Yes
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	Yes
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

REVIEW OF OPERATIONS:

The Company has performed well despite the challenging environment in India and especially in the State of Andhra Pradesh. It has recorded gross turnover of Rs. 198.700 Million during the year.

CEMENT SECTOR OUTLOOK:

The Indian cement industry is the 2nd largest market after China accounting for about 8% of the total global production. It had a total capacity of about 347 m tones (MT) as of financial year ended 2012-13. Cement is a cyclical commodity with a high correlation with GDP. The housing sector is the biggest demand driver of cement, accounting for about 67% of the total consumption. The other major consumers of cement include infrastructure (13%), commercial construction (11%) and industrial construction (9%).

During the financial year 2012-13 (FY13), India's cement production grew by 5% year-on-year (YoY). The subdued growth was mainly attributable to slowdown in construction activities, regulatory delays in infrastructural projects and the overall downturn in the economy. As such, the supply glut resulted in lower capacity utilization levels.

The industry witnessed high operating costs, including all major cost heads such as raw materials, energy and freight. The steep depreciation of the rupee and hike in rail freight and diesel prices further aggravated the concerns.

Slowdown in demand, high inflation, government deficits and weaknesses in the global economy has resulted in a slowdown in India's GDP growth. Cement demand is closely linked to the overall economic growth, particularly the housing and infrastructure sector. As such, cement demand is likely to remain sluggish over the medium term. However, the long term growth prospects remain intact given the huge untapped housing demand and positive demographics.

However, the long term drivers for cement demand remain intact. Higher government spending on infrastructure, robust growth in rural housing and rising per capita incomes are likely to augur well for the cement industry. The government plans to spend US$ 1 trillion on infrastructure in the 12th five year plan period (2012-17). The same during the 11th plan period was US$ 514 bn. The focus on infrastructure development is expected to boost cement demand.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10550843	27/01/2015	1,540,000,000.00	YES BANK LIMITED	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA,, DR.  A.B. ROAD , WORLI, MUMBAI, Maharashtra - 400018, INDIA	C44457794
2	10545562	30/03/2015 *	260,000,000.00	YES BANK LIMITED	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA,, DR.  A.B. ROAD , WORLI, MUMBAI, Maharashtra - 400018, INDIA	C51575058
3	10535761	30/03/2015 *	750,000,000.00	BANK OF MAHARASHTRA	INDUSTRIAL FINANCE BRANCH,, APEEJAY HOUSE, 130, B .S. MARG, FORT,, MUMBAI, Maharashtra - 400001, INDIA	C51177244
4	10532498	30/03/2015 *	240,000,000.00	DHANLAXMI BANK LIMITED	TRENDSET TOWERS, GROUND FLOOR, 8-2-289/10, ROAD  NO. 2, BANJARA HILLS,, HYDERABAD, Telangana -500034, INDIA	C51317964
5	10523203	30/03/2015 *	500,000,000.00	L&T INFRASTRUCTURE FINANCE COMPANY LIMITED	MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI, Tamil Nadu - 600089, INDIA	C51549194
6	10522211	30/10/2014 *	350,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BUILDING, GROUND FLOOR,, 17, R.KAMANI MARG,  BALLARD ESTATE,, MUMBAI, Maharashtra - 400001, INDIA	C31807563
7	10518837	30/03/2015 *	500,000,000.00	SOUTH INDIAN BANK LIMITED	HYDERABAD CORPORATE BRANCH, 6-3-1085/D/G/1,DEGA  TOWERS, RAJ BHAVAN ROAD, HYDERABAD, Telangana - 500082, INDIA	C51550259
8	10513301	27/06/2014	200,000,000.00	YES BANK LIMITED	NEHRU CENTRE 9TH FLOOR, DISCOVERY OF INDIA, DR. A  NNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C15313489
9	10477206	30/03/2015 *	1,000,000,000.00	L&T FinCorp Limited	L & T HOUSE, BALLARD ESTATE,, MUMBAI, Maharashtra  - 400001, INDIA	C51548378
10	10427292	07/12/2013 *	1,000,000,000.00	STATE BANK OF INDIA	CORPORATE ACCOUNTS GROUP BRANCH, 6-3-669, OZONE,  2ND FLOOR, PUNJAGUTTA MAIN ROAD,, HYDERABAD, Andhra Pradesh - 500082, INDIA	B91296632

* Date of charge modification

FIXED ASSETS

· Building

· Factory

· Plant Machinery

· Office Equipments

· Computer

· Furniture Fixtures

· Vehicles

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.63.89
UK Pound	1	Rs.98.89
Euro	1	Rs.72.31

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	SUJ

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
--PROFITABILITY	1~10	6
--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		60

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.