MIRA INFORM REPORT

Report No. :	327850
Report Date :	19.06.2015

IDENTIFICATION DETAILS

Name :	NKG INFRASTRUCTURE LIMITED
Registered Office :	6, Todar Mal Lane, Ground Floor, Near Bengali Market, New Delhi – 110001
Tel. No.:	91-120-4537456
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.11.1989
Com. Reg. No.:	55-038371
Capital Investment / Paid-up Capital :	Rs.564.600 Million
CIN No.: [Company Identification No.]	U74899DL1989PLC038371
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCN1659D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in construction activities and generation of solar electricity.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 16000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	NKG Infrastructure Limited is a company incorporated on 16^th November 1989. It is classified as Indian Non-Government company and is registered at registrar of companies, Delhi. Its authorized share capital is Rs.700.000 Million and its paid up capital is Rs.565.000 Million. It is an established company having fine track. 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 – 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	CRISIL
Rating	Long term rating = A-
Rating Explanation	Have adequate degree of safety and carry low credit risk.
Date	December 31, 2014

Rating Agency Name	CRISIL
Rating	Short term rating = A2+
Rating Explanation	Have strong degree of safety and low credit risk.
Date	December 31, 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 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. Rakesh Kumar
Designation :	Chief Finance Officer
Contact No.:	91-120-4537456
Date :	18.06.2015

LOCATIONS

Registered Office :	6, Todar Mal Lane, Ground Floor, Near Bengali Market, New Delhi – 110001, India
Tel. No.:	91-11-23413731 / 23413732
Fax No.:	Not Available
E-Mail :	cs@nkginfra.com
Website :	www.nkginfra.com
Corporate Office :	C-32, RDC – Raj Nagar, Ghaziabad – 201001, Uttar Pradesh, India
Tel. No.:	91-120-4537456
Fax No.:	91.120-4537458
E-Mail :	nkg@nkginfra.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Pradeep Kumar Garg
Designation :	Managing Director
Address :	6, Todermal Lane, Bengali Market, Delhi - 110001, India
Date of Birth/Age :	03.02.1966
Date of Appointment :	01.10.2013
DIN No.:	00030683

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	U52110DL1989PLC038039	INTEC SHARE AND STOCK BROKERS LIMITED	Director	12/06/1995	12/06/1995	-	Not Available for eFiling	NO
2	U52110HR1989PLC036115	INTEC SHARE AND STOCK BROKERS LIMITED	Director	12/06/1995	12/06/1995	25/01/2013	Active	NO
3	U67120DL1995PLC071415	AASHIANA ROLLING MILLS LIMITED	Director	25/08/1995	25/08/1995	-	Active	NO
4	U74899DL1995PTC069288	ARCHIT STEELS PRIVATE LIMITED	Director	27/12/2004	27/12/2004	29/03/2010	Active	NO
5	U74899DL1989PLC038371	NKG INFRASTRUCTURE LIMITED	Managing director	01/10/2013	11/05/2005	-	Active	NO
6	U45201DL2005PTC132131	LANDCRAFT DEVELOPERS PRIVATE LIMITED	Director	15/01/2006	15/01/2006	25/05/2009	Active	NO
7	U55101DL1998PTC091980	TYBROS RESORTS PRIVATE LIMITED	Director	21/03/2007	21/03/2007	30/03/2010	Active	NO
8	U55101DL2007PTC170363	HIMGIRI HOTELS PRIVATE LIMITED	Director	13/11/2007	13/11/2007	22/03/2012	Active	NO
9	U45400MH2008PTC258052	SUVIPRAA INFRASTRUCTURE PRIVATE LIMITED	Director	19/02/2008	19/02/2008	27/03/2010	Active	NO
10	U28900DL2005PTC143034	ELEGANT INFRAWORLD PRIVATE LIMITED	Director	04/10/2008	04/10/2008	05/05/2010	Active	NO
11	U00500DL2005PTC140812	JAI SHREE RADHEY LAND AND ESTATE DEVELOPERS PRIVATE LIMITED	Director	10/09/2009	10/10/2008	30/03/2010	Active	NO
12	U72200DL2006PTC271618	DIKSHA WINDSOR COMPUTERS PRIVATE LIMITED.	Director	25/02/2009	25/02/2009	29/03/2010	Active	NO
13	U18101DL2005PTC133694	BHUVAN DRESSES PRIVATE LIMITED	Director	04/03/2009	04/03/2009	-	Active	NO
14	U52399DL2009PTC191470	SPIKENARD TRADEX PRIVATE LIMITED	Director	01/07/2009	01/07/2009	-	Active	NO
15	U15146DL2004PTC128843	FRIENDS ZARDA FACTORY PRIVATE LIMITEDE	Director	24/03/2010	24/03/2010	-	Active	NO
16	U45400DL2010PTC201971	ACHIEVERS BUILDTECH PRIVATE LIMITED	Managing director	01/07/2010	01/07/2010	20/03/2012	Active	NO
17	U40300DL2010PLC207823	NKG INFRAPOWER LIMITED	Director	03/09/2010	03/09/2010	-	Active	NO
18	U74899DL2005PLC141996	NKG Infrastructure IT Limited	Director	26/10/2010	26/10/2010	-	Active	NO
19	U28113DL2012PLC235093	FRIENDS BARS LIMITED	Director	01/05/2012	01/05/2012	07/11/2012	Active	NO
20	U45201DL2006PTC144721	PRIMUS BUILDWELL PRIVATE LIMITED	Additional director	04/01/2013	04/01/2013	-	Active	NO
21	U74899DL1995PTC072232	EXPERT POWER CONTROL (INDIA) PRIVATE LIMITED	Director	29/09/2014	08/02/2014	-	Active	NO
22	U55101DL2009PTC186746	MINAR HOTELS PRIVATE LIMITED	Additional director	19/11/2014	19/11/2014	-	Active	NO
23	U45200DL2013PTC253566	VERVE HABITAT PRIVATE LIMITED	Additional director	23/03/2015	23/03/2015	-	Active	NO
24	U70109DL2013PTC253774	Sunstream Infra Private Limited	Additional director	25/03/2015	25/03/2015	-	Active	NO

Name :

Mr. Naresh Kumar Garg

Designation :

Director

Address :

KG-111, Kavi Nagar, Ghaziabad - 201002, Uttar Pradesh, India

Date of Birth/Age :

28.09.1948

Date of Appointment :

01.04.2007

DIN No.:

00033094

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	U74899DL1989PLC038371	NKG INFRASTRUCTURE LIMITED	Director	01/04/2007	16/11/1989	-	Active	NO
2	U26921UP1995PLC019217	MANGLAM CERAMICS LIMITED	Director	26/12/1995	26/12/1995	30/03/2010	Active	NO
3	U45400UP2010PTC041819	PUSHPDEEP INFRASTRUCTURE PRIVATE LIMITED	Additional director	02/02/2015	02/02/2015	26/03/2015	Active	NO

Name :

Mr. Umesh Aggarwal

Designation :

Additional Director

Address :

House No. 645, Kayasthwara, Rewari - 123401, Haryana, India

Date of Appointment :

24.03.2015

DIN No.:

07048959

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	U51909DL2015PTC275257	PD DRUMS PRIVATE LIMITED	Director	12/01/2015	12/01/2015	-	Active	NO
2	U70102HR2013PTC051264	WISE PROPMART SOLUTIONS PRIVATE LIMITED	Director	25/02/2015	25/02/2015	-	Active	NO
3	U74899DL1989PLC038371	NKG INFRASTRUCTURE LIMITED	Additional director	24/03/2015	24/03/2015	-	Active	NO
4	U27104HR1995PLC032615	GUPTA METAL SHEETS LTD	Additional director	26/03/2015	26/03/2015	-	Active	NO

Name :

Nikita Goel

Designation :

Additional Director

Address :

G-23/251, Sector-7, Rohini, Delhi - 110085, India

Date of Appointment :

24.03.2015

DIN No.:

07125608

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	U74899DL1989PLC038371	NKG INFRASTRUCTURE LIMITED	Additional director	24/03/2015	24/03/2015	-	Active	NO
2	U27104HR1995PLC032615	GUPTA METAL SHEETS LTD	Additional director	26/03/2015	26/03/2015	-	Active	NO

Name :

Mr. Rakesh Kumar

Designation :

Whole-Time Director / CFO

Address :

A-43 Allahabad Bank Apartment, Mayur Kunj, Delhi - 110096, India

Date of Birth/Age :

16.06.1962

Date of Appointment :

21.02.2007

DIN No.:

01319903

PAN No.:

AEHPK2418K

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	U74899DL1989PLC038371	NKG INFRASTRUCTURE LIMITED	Whole-time director	21/02/2012	21/02/2007	-	Active	NO
2	U74899DL1995PTC069567	PRADEEP SONS PRIVATE LIMITED	Director	28/02/2007	28/02/2007	31/03/2014	Active	NO
3	U67120DL1996PTC077237	NIJI INFINLEASE PRIVATE LIMITED	Director	28/02/2007	28/02/2007	10/05/2010	Amalgamated	NO
4	U65923DL1995PTC072226	GANNAYAK FINTECH SERVICES PRIVATE LIMITED	Director	01/04/2007	01/04/2007	10/05/2010	Active	NO
5	U72200DL2006PTC271618	DIKSHA WINDSOR COMPUTERS PRIVATE LIMITED.	Director	25/02/2009	25/02/2009	29/03/2010	Active	NO
6	U15203DL2005PTC133693	BHUVAN FOODS PRIVATE LIMITED	Director	04/03/2009	04/03/2009	-	Active	NO
7	U52399DL2009PTC191470	SPIKENARD TRADEX PRIVATE LIMITED	Director	01/07/2009	01/07/2009	-	Active	NO
8	U45400DL2010PTC201971	ACHIEVERS BUILDTECH PRIVATE LIMITED	Director	01/07/2010	01/07/2010	14/09/2014	Active	NO
9	U40300DL2010PLC207823	NKG INFRAPOWER LIMITED	Director	03/09/2010	03/09/2010	-	Active	NO
10	U74899DL2005PLC141996	NKG Infrastructure IT Limited	Director	26/10/2010	26/10/2010	-	Active	NO
11	U28113DL2012PLC235093	FRIENDS BARS LIMITED	Director	01/05/2012	01/05/2012	-	Active	NO

Name :

Shashi Rani Garg

Designation :

Additional Director

Address :

KG 112, Kavi Nagar, Ghaziabad - 201001, Uttar Pradesh, India

Date of Appointment :

15.12.2014

DIN No.:

01326079

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	U74899DL1995PLC071776	COMPEER PORTFOLIO LIMITED	Director	30/07/2003	30/07/2003	29/03/2010	Active	NO
2	U74210DL1989PTC038335	D.D. CONSTRUCTIONS PRIVATE LIMITED	Director	08/10/2003	08/10/2003	10/05/2010	Active	NO
3	U74899DL1989PLC038371	NKG INFRASTRUCTURE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO

KEY EXECUTIVES

Name :	Rakhi Singh
Designation :	Secretary
Address :	79, Ground Floor, Hakikat Nagar, New Delhi - 110009, India
Date of Birth/Age :	22.08.1988
Date of Appointment:	17/02/2014
PAN No.:	DIUPS7652P

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders (Equity Shares)	No. of Shares
Mr. Pradeep Kumar Garg	19417432
Archit Steels Private Limited	15129664
Pradeep Sons Private Limited	7509984
Aman Promoters Private Limited	4913332
Expert Power Control (India) Private Limited	1560000
PKG (HUF)	700000
Elegant lnfraworld Private Limited	380000
Mr. Devendra Kumar Garg	374600
Mr. Naresh Kumar Garg	231000
Ms. Meenu Garg	198000
Jay Shree Radhey Land and Estate Developers Private Limited	48000
Total	50462012

Names of Shareholders (Preference Shares)	No. of Shares
Navya Projects Private Limited	2175000
Elegant lnfraworld Private Limited	1115000
Jay Shree Radhey Land and Estate Developers Private Limited	750000
NKG Infrastructure IT Limited	725000
GNG Steels Private Limited	873000
Meenu Garg	360000
Aashiana Rolling Mills Limited	40000
Total	6038000

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	59.93
Directors or relatives of Directors	40.07
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in construction activities and generation of solar electricity.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Axis Bank Limited
Branch Address	Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380006, Gujarat, 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

• ABN AMRO BANK N.V., 3rd Floor, Hansalaya Building, 15- Barakhamba Road, New Delhi - 110001, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loans	831.931	848.193
SHORT TERM BORROWING
Working capital loans from banks	2366.058	2656.069
Total	3197.989	3504.262

Financial Institutes :	Bajaj Finance Limited, Akurdi Pune - 411035, Maharashtra, India PNB Housing Finance Limited, 9th Floorantriksh Bhawan, 22 K G Marg, New Delhi - 110001, India HDB Financial Services Limited, Radhika, 2nd Floor, Law Garden Road, Navrangpura,, Ahmedabad - 380009, Gujarat, India Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India
Auditors :
Name :	S. K. Mehta And Company Chartered Accountants
Address :	2682/2, Beadon Pura, Ajmal Khan Road, Karol Bagh, New Delhi – 110005, India
PAN No.:	AADFS9161P
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	N.K.G. Infra Power Limited
Enterprises over which Key Management Personnel/Directors and their relatives are able to exercise significant influence :	Aashiana Rolling Mills Limited Aman Promotors Private Limited Expert Power System India Limited NKG Infrastructure IT Limited GNG Steels Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
60462012	Equity Shares	Rs.10/- each	Rs.604.620 Million
9537988	Preference Shares	Rs.10/- each	Rs.95.380 Million
	Total		Rs.700.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
50462012	Equity Shares	Rs.10/- each	Rs.504.620 Million
6038000	Preference Shares	Rs.10/- each	Rs.60.380 Million
	Total		Rs.565.000 Million

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
64000000	Equity Shares	Rs.10/- each	Rs.640.000 Million
6000000	Preference Shares	Rs.10/- each	Rs.60.000 Million
	Total		Rs.700.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
50462012	Equity Shares	Rs.10/- each	Rs.504.620 Million
5998000	Preference Shares	Rs.10/- each	Rs.59.980 Million
	Total		Rs.564.600 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	564.600	555.870	504.620
(b) Reserves & Surplus	5181.522	4725.879	3587.177
(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)	5746.122	5281.749	4091.797
(3) Non-Current Liabilities
(a) long-term borrowings	883.466	1085.929	1296.432
(b) Deferred tax liabilities (Net)	356.850	270.710	96.276
(c) Other long term liabilities	880.881	447.979	350.391
(d) long-term provisions	16.909	15.547	14.957
Total Non-current Liabilities (3)	2138.106	1820.165	1758.056
(4) Current Liabilities
(a) Short term borrowings	2366.058	2656.069	2723.007
(b) Trade payables	1332.676	633.157	632.411
(c) Other current liabilities	2097.370	2197.357	2519.337
(d) Short-term provisions	0.228	0.845	0.746
Total Current Liabilities (4)	5796.332	5487.428	5875.501
TOTAL	13680.560	12589.342	11725.354
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4145.123	3017.299	3092.924
(ii) Intangible Assets	1.125	1.525	1.806
(iii) Capital work-in-progress	0.000	21.023	4.522
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	59.945	8.750
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	511.395	335.427	264.143
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4657.643	3435.219	3372.145
(2) Current assets
(a) Current investments	0.500	0.000	1.686
(b) Inventories	4222.246	4436.770	4309.405
(c) Trade receivables	1717.906	1707.234	1590.717
(d) Cash and cash equivalents	762.046	742.823	702.846
(e) Short-term loans and advances	2285.479	2242.343	1737.055
(f) Other current assets	34.740	24.953	11.500
Total Current Assets	9022.917	9154.123	8353.209
TOTAL	13680.560	12589.342	11725.354

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	18363.419	15153.001	18688.020
	Other Income	85.564	69.294	60.078
	TOTAL	18448.983	15222.295	18748.098
Less	EXPENSES
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	214.524	(127.365)	(1647.340)
	Employees benefits expense	263.175	264.912	331.813
	Other expenses	16316.319	13420.868	18708.920
	TOTAL	16794.018	13558.415	17393.393
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1654.965	1663.880	1354.705
Less	FINANCIAL EXPENSES	512.753	541.604	344.538
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	1142.212	1122.276	1010.167
Less/ Add	DEPRECIATION/ AMORTISATION	241.368	206.592	117.977
	PROFIT/ (LOSS) BEFORE TAX	900.844	915.684	892.190
Less	TAX	211.139	238.234	78.528
	PROFIT/ (LOSS) AFTER TAX	689.705	677.450	813.662
	IMPORTS
	Capital Goods	NA	NA	1.392
	TOTAL IMPORTS	NA	NA	1.392
	Earnings / (Loss) Per Share (Rs.)	13.66	13.42	16.12

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	460.232	492.638	327.916
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	3.76	4.47	4.35
Operating Profit Margin (PBDIT / Sales)	(%)	9.01	10.98	7.25
Return on Total Assets (PBT/Total Assets}	(%)	6.58	7.32	7.62
Return on Investment (ROI) (PBT/Networth)		0.16	0.17	0.22
Debt Equity Ratio (Total Debt/Networth)		0.65	0.80	1.06
Current Ratio (Current Asset/Current Liability)		1.56	1.67	1.42

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	504.620	555.870	564.600
Reserves & Surplus	3587.177	4725.879	5181.522
Net worth	4091.797	5281.749	5746.122
long-term borrowings	1296.432	1085.929	883.466
Short term borrowings	2723.007	2656.069	2366.058
Current Maturities of Long Term Debt	327.916	492.638	460.232
Total borrowings	4347.355	4234.636	3709.756
Debt/Equity ratio	1.062	0.802	0.646

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	18688.020	15153.001	18363.419
		(18.916)	21.187

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	18688.020	15153.001	18363.419
Profit	813.662	677.450	689.705
	4.35%	4.47%	3.76%

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	No
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	Yes
32	Litigations that the firm/promoter involved in	----------------------
33	Market information	----------------------
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

FINANCIAL HIGHLIGHTS

The year was a transformational year for the company. The Company contained its pursuit to set new global benchmarks for project execution and solar power generation.

The Gross turnover of the company registered Rs. 18448.900 Million (Previous Year Rs. 15222.200 Million). The operating profit of the Company was Rs. 1654.900 Million (Previous Year Rs. 1663.900 Million). The Company’s net profit stood at Rs. 689.800 Million (Previous Year Rs. 677.500 Million.)

The Company, in the special thrust to acquire the latest technology, invested heavily in the most advanced machinery and construction equipment’s in order to increase its technological strength and competitiveness.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from related parties	51.535	237.736
Total	51.535	237.736

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10574127	26/05/2015	2,117,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, Maharashtra, INDIA	C56037245
2	10574067	22/05/2015	14,000,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, Maharashtra, INDIA	C56015118
3	10565850	29/04/2015	17,451,900.00	RELIANCE CAPITAL LIMITED	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, INDIA	C51856813
4	10567199	20/03/2015	2,125,000.00	RELIANCE CAPITAL LIMITED	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, INDIA	C52500832
5	10555623	13/02/2015	117,200,000.00	RELIANCE CAPITAL LIMITED	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, INDIA	C46999108
6	10548327	18/04/2015 *	23,800,000.00	HDB FINANCIAL SERVICES LIMITED	Radhika, 2nd Floor, Law Garden Road,, Navrangpura, Ahmedabad - 380009, Gujarat, INDIA	C51767945
7	10556231	24/11/2014	2,075,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, Maharashtra, INDIA	C47350103
8	10514399	30/07/2014	10,473,000.00	Axis Bank Limited	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G  ARDEN ELLISBRIDGE, AHMEDABAD - 380006, Gujarat, INDIA	C16081812
9	10515444	30/06/2014	2,039,849.00	RELIANCE CAPITAL LIMITED	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, INDIA	C16765984
10	10506930	07/06/2014	8,397,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, Maharashtra, INDIA	C09839564

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment

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 records 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.63.84
UK Pound	1	Rs.100.99
Euro	1	Rs.72.45

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	RAS
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		52

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.