MIRA INFORM REPORT

Report No. :	327749
Report Date :	19.06.2015

IDENTIFICATION DETAILS

Name :	SU-KAM POWER SYSTEMS LIMITED
Registered Office :	306, Kirti Deep, Nangal Raya, New Delhi – 110046
Tel. No.:	91-11-44231111
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.10.1998
Com. Reg. No.:	55-096685
Capital Investment / Paid-up Capital :	Rs. 47.317 Million
CIN No.: [Company Identification No.]	U64201DL1998PLC096685
IEC No.:	0595051251
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAFCS0019P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Trading of Power Back-up Devices viz Inverters, Home UPS Systems, UPS Systems for Commercial Use, Batteries, etc.
No. of Employees :	1000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 6540000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a well-established company incorporated in 1998, having satisfactory track record. It is engaged in the manufacturing and trading of power back-up devices viz inverters, home UPS systems, UPS systems for commercial use, batteries, etc. Company has reported dip in profit and sales turnover during financial year 2014 as compare to FY 13. Rating takes into consideration company’s strong reserves and low gearing. Trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with 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Rating	Long term (Withdrawn): “A-”
Rating Explanation	Adequate degree of safety and low credit risk.
Date	02.03.2015

Rating Agency Name	CARE
Rating	Short term (Withdrawn): “A2+”
Rating Explanation	Strong degree of safety and low credit risk.
Date	02.03.2015

Reason for Withdrawn: Because of companies request and as per CARE’s withdrawal policy.

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Puneet
Designation :	Manager
Contact No.:	91-9999788126
Date :	18.06.2015

LOCATIONS

Registered Office :	306, Kirti Deep, Nangal Raya, New Delhi – 110046, India
Tel. No.:	91-11-44231111/ 4170500
Fax No.:	Not Available
E-Mail :	info@su-kam.com
Web Site :	http://www.su-kam.com
Location :	Owned
Locality :	Industrial
Corporate Office :	Plot No.54, Udyog Vihar, Phase VI, Sector 37, Gurgaon - 122001, Haryana, India
Tel. No.:	91-124-4030700 / 4170500
Fax No.:	91-124-4038700
E-Mail :	info@su-kam.com
PLANTS :	Inverter Plant 196-C, Udyog Vihar, Phase VI, Sector-37, Gurgaon - 122001, Haryana, India Tel:   91-124-4030700/4170500 Fax:  91-124-4038700 E-mail: mgoel@su-kam.com Plot No.64 / 71, DIC-2A, Industrial Area, Baddi, Distt. Solan, Himachal Pardesh, India Tel.:91-1795-244607/244608/247123/247124 Fax:91-1795-247917,244607 E-mail: vjain@su-kam.com Battery Plant Plot No.7, Apparel-Park-cum Industrial Area, Katha, Baddi, District Solan - 173205, Himachal Pradesh, India E-mail: hnayyar@su-kam.com Transformer United States Plot No.-44, Bhatolikalan, HIMUDA Industrial Area Baddi, District Solan-173205 Himachal Pradesh, India E-mail: mgoel@su-kam.com
Branch Offices :	Located At: · Bangalore · Bhubaneshwar · Chandigarh · Chhattisgarh · Chennai · Cochin · New Delhi · Ghaziabad · Gujarat · Guwahati · Hyderabad · Indore · Jaipur · Jammu · Lucknow · Kolkata · Mumbai · Nagpur · Patna · Pune · Ranchi · Zirakpur

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Kunwer Sachdev

Designation :

Managing Director

Address :

F - 37, Green Woods City, Gurgaon - 122001, Haryana, India

Date of Birth/Age :

16.11.1962

Qualification :

B.Sc., LLB

Experience :

27 Years

Date of Appointment :

14.10.1998

PAN No.:

ABJPS8404L

DIN No.:

00002083

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	Company/ LLP Status	Defaulting status
1	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	Managing director	14-10-1998	14-10-1998	Active	NO
2	U33111DL2005PLC132824	SU-KAM HEALTH AND FITNESS LIMITED	Director	09-02-2005	09-02-2005	Strike off	NO
3	U65993DL2005PLC144223	KUNRUN INDIA FINANCE LIMITED	Director	13-04-2006	13-04-2006	Under Process of Striking off	NO
4	U32209DL1996PTC079468	SUKAM SYSTEMS PRIVATE LIMITED	Director	29-09-2007	04-09-2007	Active	NO
5	U51109HR2008PTC037529	GOOD MORNING INDIA BAKERS PRIVATE LIMITED	Director	08-01-2008	08-01-2008	Strike off	NO
6	U45207JK2009PTC003049	DILIGENT INFRASTRUCTURE PRIVATE LIMITED	Director	09-10-2009	09-10-2009	Active	NO
7	U74900HR2010PLC040978	SU-KAM TELECOM INFRASTRUCTURE LIMITED	Director	29-07-2010	29-07-2010	Active	NO
8	U31500HR2010PLC040982	SU-KAM SOLAR ENERGY SOLUTIONS LIMITED	Director	30-07-2010	30-07-2010	Active	NO
9	U31109HR2010PLC040985	SU-KAM BATTERIES LIMITED	Director	30-07-2010	30-07-2010	Active	NO
10	U24296DL2013PTC256824	MOHBBAT AYURVEDA PRIVATE LIMITED	Director	22-08-2013	22-08-2013	Active	NO

Name :

Mr. Sanjeev Kumar

Designation :

Director

Address :

DO6-FF, M2K, Spring Floors,, Mayfield Garden, Gurgaon - 122001, Haryana, India

Date of Birth/Age :

30.09.1973

Qualification :

M. Tech

Date of Appointment :

30.09.2011

PAN No.:

ALFPK2337N

DIN No.:

00267841

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	U32209DL1996PTC079468	SUKAM SYSTEMS PRIVATE LIMITED	Director	30-09-2006	10-05-2006	-	Active	NO
2	U51900PB2005PTC028440	M.R.A.ENTERPRISES PRIVATE LIMITED	Director	30-12-2009	30-12-2009	30-09-2010	Active	NO
3	U74900HR2010PLC040978	SU-KAM TELECOM INFRASTRUCTURE LIMITED	Director	29-07-2010	29-07-2010	-	Active	NO
4	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	Director	30-09-2011	16-10-2010	-	Active	NO
5	U33111DL2005PLC132824	SU-KAM HEALTH AND FITNESS LIMITED	Additional director	03-01-2011	03-01-2011	-	Strike off	NO
6	U31500HR2010PLC040982	SU-KAM SOLAR ENERGY SOLUTIONS LIMITED	Director	15-10-2011	03-01-2011	-	Active	NO
7	U31109HR2010PLC040985	SU-KAM BATTERIES LIMITED	Director	15-10-2011	03-01-2011	-	Active	NO

Name :

Biplab Majumder

Designation :

Director

Address :

H-1301, Outer Ring Road, Mantri Espana, Kariyammana Agrahara, Bangalore - 560103, Karnataka, India

Date of Birth/Age :

14.09.1948

Qualification :

BE, M Tech

Date of Appointment :

29.12.2012

DIN No.:

00064467

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	L32202KA1949PLC032923	ABB INDIA LIMITED	Additional director	01-01-2011	24-01-2006	10-05-2011	Active	NO
2	U72200KA2001PTC032179	ABB GLOBAL INDUSTRIES AND SERVICES PRIVATE LIMITED	Director	23-06-2008	14-09-2007	29-11-2010	Active	NO
3	U74140KA1996PLC031501	ABB HOLDINGS (SOUTH ASIA) LIMITED	Managing director	10-10-2007	28-09-2007	-	Amalgamated	NO
4	U91110DL2008NPL177380	SWEDISH CHAMBER OF COMMERCE INDIA	Director	26-09-2008	26-09-2008	17-05-2010	Active	NO
5	U29119MH1969PLC014404	MENON AND MENON LIMITED	Nominee director	21-10-2011	21-10-2011	13-02-2013	Active	NO
6	U63090WB2000PTC092223	ETRANS SOLUTIONS PRIVATE LIMITED	Director	27-05-2013	17-11-2012	-	Active	NO
7	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	Director	30-09-2014	29-12-2012	-	Active	NO
8	U31909DL1971PLC005672	C&S ELECTRIC LIMITED	Director	01-03-2013	01-03-2013	-	Active	NO

Name :

Sanjaya Shrikrishna Kulkarni

Designation :

Director

Address :

A/12,Technocrat Society, Twin Tower Lane, Prabhadevi, Mumbai - 400025, Maharashtra, India

Date of Birth/Age :

30.05.1949

Qualification :

BA

Date of Appointment :

30.09.2014

DIN No.:

00102575

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	U01222TG1999PTC031203	SL POULTRY PRIVATE LIMITED	Director	25-02-1999	25-02-1999	23-08-2014	Active	NO
2	U74140MH1999PTC120805	INDIAN DIRECT EQUITY ADVISORS PRIVATE LIMITED	Director	14-07-1999	14-07-1999	-	Active	NO
3	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Nominee director	26-03-2001	26-03-2001	11-01-2008	Active	NO
4	U72200MH1990PLC056987	UTV SOFTWARE COMMUNICATIONS LIMITED	Director	25-02-2002	25-02-2002	16-03-2012	Active	NO
5	U99999MH1995PTC095333	PRO CAPITAL ADVISORS PRIVATE LIMITED	Director	11-12-2002	11-12-2002	20-08-2014	Active	NO
6	L27203DD1989PLC003240	TIME TECHNOPLAST LIMITED	Director	25-03-2003	25-03-2003	-	Active	NO
7	U65991MH2004PTC149164	EUREKA CAPITAL MANAGEMENT PRIVATE LIMITED	Director	04-11-2004	04-11-2004	27-12-2010	Active	NO
8	L15142TG1986PLC006957	AGRO TECH FOODS LIMITED	Director	17-07-2014	11-01-2005	-	Active	NO
9	L25209DD1992PLC004656	TPL PLASTECH LIMITED	Director	14-07-2006	14-07-2006	-	Active	NO
10	U31909DD1998PLC004665	NED ENERGY LIMITED	Director	29-09-2007	29-09-2007	-	Active	NO
11	U32300MH2007PLC171337	DISNEY ENTERTAINMENT (INDIA) LIMITED	Director	27-07-2009	06-08-2008	16-03-2012	Active	NO
12	L80101MH2006PLC163028	TREE HOUSE EDUCATION AND ACCESSORIES LIMITED	Director	30-09-2009	13-08-2008	-	Active	NO
13	U80904DL2009PTC194664	IPROF LEARNING SOLUTIONS INDIA PRIVATE LIMITED	Director	31-03-2011	29-09-2010	-	Active	NO
14	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	Director	30-09-2014	15-05-2012	-	Active	NO
15	U34200MH1996PTC103764	SUPREME-TREVES PRIVATE LIMITED	Director	29-09-2012	18-07-2012	-	Active	NO

Name :

Satya Brata Ganguly

Designation :

Director

Address :

5C, New Road, Alipore, Kolkata - 700027, West Bengal, India

Date of Birth/Age :

23.10.1942

Qualification :

MBA

Date of Appointment :

30.09.2014

DIN No.:

01838353

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	U45206WB2007SGC116084	SUNDARBAN INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Director	04-01-2008	04-01-2008	24-03-2012	Active	NO
2	L20101WB1982PLC034435	CENTURY PLYBOARDS (INDIA) LIMITED	Director	31-10-2011	26-06-2008	12-03-2012	Active	NO
3	U65990WB2009PLC134536	PEERLESS TRUST MANAGEMENT CO LIMITED	Director	09-09-2014	09-04-2009	-	Active	NO
4	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LTD	Director	30-09-2010	29-12-2009	-	Active	NO
5	L63993WB1983PLC036030	EMAMI LIMITED	Director	09-08-2014	30-01-2010	-	Active	NO
6	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	Director	30-09-2014	07-09-2011	-	Active	NO

KEY EXECUTIVES

Name :	Amarpreet Jaiswal
Designation :	Secretary
Address :	C-1938, Sushant Lok, Gurgaon - 122002, Haryana, India
Date of Appointment :	15.01.2014
PAN No.:	AFHPJ6319R
Name :	Sandeep Kumar Gupta
Designation :	CFO
Address :	F-905, Maple Height, C Block, Sushant Lok-1, Gurgaon - 122002, Haryana, India
Date of Appointment :	26.05.2014
PAN No.:	AFBPG1833R
Name :	Mr. Puneet
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Kunwer Sachdev	3492089
Nagender Bajaj	1090
Narender Negi	2000
Sanjeev Kumar	4000
Dhananjay Sharma	3000
Vijay Prakash Gupta	3400
Durgesh Pradhan	200
Dilip Kumar Gupta	900
Air CMDE (Retd.) K. R. Bali	1000
Reliance India Power Fund, India	907545
Jagmohan Panwar	2500
Amarpreet Jaiswal	350
Total	4418074

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Mutual funds	19.18
Directors or relatives of Directors	79.98
Other top fifty shareholders	0.84
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Power Back-up Devices viz Inverters, Home UPS Systems, UPS Systems for Commercial Use, Batteries, etc.

Products :

ITC Code No.	Product Descriptions
85044010	Electric Inverters
85044030	Battery Chargers
85044090	Parts of Transformers, Static Converters and Inductors

Brand Names :

--

Agencies Held :

--

Exports :

--

Imports :

--

Terms :

Selling :

Cash, Cheque and Credit (60 Days/ 90 Days)

Purchasing :

Cash, Cheque and Credit (60 Days/ 90 Days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers and End Users

· Taj

· Meridien

· Yatra.Com

· HCL

· Whirlpool

· Bata

· NIIT

· Cadbury

· Siemens

· Kajaria

· SAMSUNG

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

1000 (Approximately)

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· IDBI Bank Limited, Indian Red Cross Society Building, 1, Red Cross Road, New Delhi - 110001, India

· Standard Chartered Bank, Credit Documentation Unit, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, India

· Indusind Bank Limited, Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi - 110001, India

· Axis Bank Limited, Mini Credit Management Center, Shop No. 1-6 & 8-10, Ground Floor, Ninex Centre, Sun City, Sector-54, Gurgaon - 122002, Haryana, India

· Small Industries Development Bank Of India, Udyog Minar, Vanijya Nikunj, Udyog Vihar Phase V, Gurgaon - 122016, Haryana, India

· Bank of Maharastra, GF 01-02, Time Square, Sushant Lok, Gurgaon - 122009, Haryana, India

· Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India,, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

· State Bank of Patiala, Mid Corporate Branch, 91, IDC, M. G. Road, Gurgaon - 122001, Haryana, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks	445.691	340.193
Rupee term loans from others	0.000	1.300
Loans taken for vehicles	2.664	7.631
SHORT TERM BORROWINGS
Working capital loans from banks	1751.593	1043.411
Total	2199.948	1392.535

Banking Relations :	--
Auditors :
Name :	S. S. Kothari Mehta and Company Chartered Accountants
Address :	146 - 149, Tribhuvan Complex, Ishwar Nagar, Mathura Road
Income-tax PAN of auditor or auditor's firm :	AABFS6730L
Memberships :	--
Collaborators :	--
Subsidiary company :	· Su-kam Batteries Limited CIN No.: U31109HR2010PLC040985 · Su-kam Solar Energy Solutions Limited CIN No.: U31500HR2010PLC040982 · Su-kam Telecom Infrastructure Limited CIN No.: U74900HR2010PLC040978 · SUKAM SYSTEMS PRIVATE LIMITED CIN No.: U32209DL1996PTC079468 · Su-Kam Power Systems Nigeria Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Good Morning India Bakers Private Limited CIN No.: U51109HR2008PTC037529

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,731,724	Equity Shares	Rs.10/- each	Rs. 47.317 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	47.317	47.317	47.317
(b) Reserves & Surplus	2240.531	2152.628	1814.302
(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)	2287.848	2199.945	1861.619
(3) Non-Current Liabilities
(a) Long-term borrowings	448.355	349.124	185.942
(b) Deferred tax liabilities (Net)	0.000	11.444	0.000
(c) Other long term liabilities	4.408	0.100	2.153
(d) long-term provisions	32.884	29.995	17.351
Total Non-current Liabilities (3)	485.647	390.663	205.446
(4) Current Liabilities
(a) Short-term borrowings	1791.486	1329.711	1575.194
(b) Trade payables	2198.376	2431.490	1834.808
(c) Other current liabilities	603.331	731.412	445.359
(d) Short-term provisions	12.710	13.376	19.696
Total Current Liabilities (4)	4605.903	4505.989	3875.057
TOTAL	7379.398	7096.597	5942.122
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1236.691	1237.145	1161.036
(ii) Intangible Assets	147.678	138.798	158.294
(iii) Capital work-in-progress	0.000	28.531	4.977
(iv) Intangible assets under development	4.198	13.634	1.478
(b) Non-current Investments	5.416	5.416	2.152
(c) Deferred tax assets (net)	5.817	0.000	3.558
(d) Long-term Loan and Advances	270.508	246.179	183.917
(e) Other Non-current assets	25.776	13.360	7.893
Total Non-Current Assets	1696.084	1683.063	1523.305
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3446.234	2558.081	2299.079
(c) Trade receivables	1848.438	2527.459	1894.741
(d) Cash and cash equivalents	113.132	132.192	143.707
(e) Short-term loans and advances	273.660	182.552	75.674
(f) Other current assets	1.850	13.250	5.616
Total Current Assets	5683.314	5413.534	4418.817
TOTAL	7379.398	7096.597	5942.122

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	8633.837	10177.436	6914.703
		Other Income	61.314	42.465	16.194
		TOTAL (A)	8695.151	10219.901	6930.897
Less	EXPENSES
		Cost of Materials Consumed	4836.806	6331.822	3165.995
		Purchases of Stock-in-Trade	1618.608	1211.002	1408.943
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(879.746)	(442.201)	89.933
		Employees benefits expense	726.006	616.310	385.826
		Other expenses	1750.876	1680.089	1205.708
		TOTAL (B)	8052.550	9397.022	6256.405
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		642.601	822.879	674.492
Less	FINANCIAL EXPENSES (D)		374.833	285.734	336.822
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		267.768	537.145	337.670
Less/ Add	DEPRECIATION/ AMORTISATION (F)		184.881	181.944	116.361
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		82.887	355.201	221.309
Less	TAX (H)		(0.635)	20.370	17.270
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		83.522	334.831	204.039
	EARNINGS IN FOREIGN CURRENCY		889.038	713.694	61.871
	IMPORTS
		Raw Materials	574.169	576.404	383.495
		Capital Goods	33.643	43.089	3.588
	TOTAL IMPORTS		607.812	619.493	387.083
	Earnings Per Share (Rs.)		904.87	781.81	441.93

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	189.522	178.220	165.835
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.97	3.29	2.95
Operating Profit Margin (PBDIT/Sales)	(%)	7.44	8.09	9.75
Return on Total Assets (PBT/Total Assets}	(%)	1.13	5.04	3.73
Return on Investment (ROI) (PBT/Networth)		0.04	0.16	0.12
Debt Equity Ratio (Total Liability/Networth)		0.98	0.76	0.95
Current Ratio (Current Asset/Current Liability)		1.23	1.20	1.14

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	47.317	47.317	47.317
Reserves & Surplus	1814.302	2152.628	2240.531
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1861.619	2199.945	2287.848
Long-term borrowings	185.942	349.124	448.355
Short term borrowings	1575.194	1329.711	1791.486
CURRENT MATURITIES OF LONG-TERM DEBTS	165.835	178.220	189.522
Total borrowings	1926.971	1857.055	2429.363
Debt/Equity ratio	1.035	0.844	1.062

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	6914.703	10177.436	8633.837
		47.185	-15.167

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	6914.703	10177.436	8633.837
Profit	204.039	334.831	83.522
	2.95%	3.29%	0.97%

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	No
19	Major customers	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10573601	28/03/2015	362,500,000.00	HERO FINCORP LIMITED	34, COMMUNITY CENTRE, BASANT LOK, VASANT VIHAR, NEW DELHI - 110057, INDIA	C52182219
2	10516982	20/09/2014 *	130,000,000.00	IDBI BANK LIMITED	INDIAN RED CROSS SOCIETY BUILDING, 3RD FLOOR, RED  CROSS ROAD, NEW DELHI - 110001, INDIA	C22593362
3	10507604	19/06/2014	450,000,000.00	STATE BANK OF PATIALA	AMBADEEP BUILDING, K.G. MARG, NEW DELHI - 110001, INDIA	C10222792
4	10485185	01/03/2014	250,000,000.00	IDBI BANK LIMITED	INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELH - 110001, INDIA	C00601450
5	10480347	12/02/2014	250,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	UDYOG MINAR, VANIJYA NIKUNJ, UDYOG VIHAR PHASE V, GURGAON, HARYANA - 122016, INDIA	B97492581
6	10478094	07/01/2014	200,000,000.00	AXIS BANK LIMITED	MINI CREDIT MANAGEMENT CENTER, SHOP NO. 1-6 & 8-10, GROUND FLOOR, NINEX CENTRE, SUN CITY, SECTOR-54, GURGAON, HARYANA - 122002, INDIA	B96600994
7	10464023	04/12/2014 *	250,000,000.00	DCB BANK LIMITED	A-SET HOUSE, III FLOOR, 7,56, DESH BANDHU GUPTA  ROAD, NEW DELHI - 110005, INDIA	C36018778
8	10438298	22/07/2013	233,100,000.00	BANK OF MAHARASTRA	GF01-02, TIME SQUARE, SUSHANT LOK, GURGAON, HARYANA - 122009, INDIA	B80230451
9	10402465	28/01/2013	150,000,000.00	STANDARD CHARTERED BANK	CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA	B67903336
10	10389512	27/11/2012	43,111,000.00	DIR. OF INDUSTRIES WITH PARRI PASSU SIDBI	SINGLE WINDOW CLEARING AGENCY, BAROTIWALA ROAD, BADDI, HIMACHAL PRADESH - 173205, INDIA	B63163430
11	10389509	27/11/2012	737,437,000.00	DIR. OF INDUSTRIES WITH PARRI PASSU ICICI BANK IDB  I BANK STANDARD CHARTERED BANK	SINGLE WINDOW CLEARING AGENCY, BAROTIWALA ROAD, BADDI, HIMACHAL PRADESH - 173205, INDIA	B63161723
12	10375809	22/08/2012	100,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B57831968
13	10273399	11/11/2014 *	5,500,000,000.00	IDBI BANK LIMITED	INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA	C36104974
14	10246746	26/04/2013 *	150,000,000.00	IDBI BANK LIMITED	INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI - 110001, INDIA	B75785527
15	10025492	30/10/2006	100,000,000.00	SYNDICATE BANK	NANGAL RAYA BRANCH, NEW DELHI - 110016, INDIA	A06439657
16	80026439	20/03/2009 *	10,000,000.00	SYNDICATE BANK	11, BHANOT BUILDING, RETAIL BUSINESS CENTER, NANGAL RAYA, NEW DELHI - 110046, INDIA	A61966339
17	80026440	20/03/2009 *	40,000,000.00	SYNDICATE BANK	11, BHANOT BUILDING, RETAIL BUSINESS CENTER, NANGAL RAYA, NEW DELHI - 110046, INDIA	A61966628
18	80026438	20/03/2009 *	50,000,000.00	SYNDICATE BANK	11, BHANOT BUILDING, RETAIL BUSINESS CENTER, NANGAL RAYA, NEW DELHI - 110046, INDIA	A61966974
19	80026462	20/03/2009 *	100,000,000.00	SYNDICATE BANK	11, BHANOT BUILDING, RETAIL BUSINESS CENTER, NANGAL RAYA, NEW DELHI - 110046, INDIA	A61966503

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Working capital loans from banks	39.893	286.300
Total	39.893	286.300

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

Intangible Assets

· Computer software

· Patents

· Know-how

· Commercial contractual rights

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. 63.85
UK Pound	1	Rs. 101.00
Euro	1	Rs. 72.46

INFORMATION DETAILS

Information Gathered by :	MNJ
Analysis Done by :	KIN
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		42

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.