MIRA INFORM REPORT

Report No. :	328019
Report Date :	22.06.2015

IDENTIFICATION DETAILS

Name :	SIMHAPURI ENERGY LIMITED (w.e.f. 21.11.2012)
Formerly Known As :	SIMHAPURI ENERGY PRIVATE LIMITED (w.e.f 06.02.2007) MALAXMI POWER PRIVATE LIMITED
Registered Office :	Madhucon Greenland, 6-3-866/2, 3^rd floor, Begumpet, Hyderabad - 500016, Telangana
Tel. No.:	91-40-23412195/96/23412297
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.12.2005
Com. Reg. No.:	01-048264
Capital Investment / Paid-up Capital :	Rs.8079.806 Million
CIN No.: [Company Identification No.]	U40101TG2005PLC048264
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECM5097N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is primarily engaged in the business of generation of power.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2005. It is into the business of developing, constructing, operating and distributing power from coal based power project in India. It has a moderate track record. For the financial year ended 2014, the company has growth in sales turnover and profitability margin but the earnings of company is very minimal. Under a review it shows that its scale of activities are limited. Further rating is constrained to the modest net worth along with borrowings and uneven gap between trade receivables to its payables. It continuous to delay in service of debt. Business is active. Payment terms are slow. In view of weak balance sheet profile, the company can be considered for business dealings on safe and secure 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	ICRA
Rating	D
Rating Explanation	Lowest Credit Quality very low prospects of recovery
Date	March, 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. Krishna Rao
Designation :	Finance Manager
Contact No.:	91-40-23412195
Date :	18.06.2015

LOCATIONS

Registered Office / Corporate Office :	Madhucon Greenlands, 6-3-866/2, 3rd Floor, Begumpet, Hyderabad – 500016, Telangana
Tel. No.:	91-40-23412195/96/23412297
Fax No.:	91-40-23412197/23412298
E-Mail :	info@simhapurienergy.com acs@simhapurienergy.com gmfinance@simhapurienergy.com
Site Office:	Thamminapatnam Village, Chilakur Mandal, Near Gudur SPSR Nellore District, - 524412, Andhra Pradesh, India
Tel. No.:	91-8624-213283
Fax No.:	91-8624-213298/99
E-Mail :	siteinfo@simhapurienergy.com
Plant:	Mommidi Village, Chilakur Mandal, SPSR Nellore, Hyderabad, Telanana, India

DIRECTORS

AS ON 20.09.2014

Name :

Mr. Krishnaiah Nama

Designation :

Managing Director

Address :

H.No.339, 5th Main, 1st Block, Koramangala, Bangalore - 560034, Karnataka, India

Date of Birth/Age :

04.05.1967

Date of Appointment :

11.09.2014

DIN No.:

00022778

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	U51909TG1990PLC011796	NAMA PROPERTIES LIMITED	Director	12/10/2012	26/09/1990	-	Active	NO
2	U65993TG1993PLC016360	Nama Investments Limited	Director	29/09/1993	29/09/1993	-	Active	NO
3	U13209TG1999PTC031622	VARALAKSHMI GRANITES PRIVATE LIMITED	Managing director	04/05/1999	04/05/1999	19/03/2010	Active	NO
4	U15427TG2002PLC039859	MADHUCON SUGAR AND POWER INDUSTRIES LIMITED	Director	31/03/2015	05/11/2002	-	Active	NO
5	U45200TG1998PLC029310	MBN-ANCHORED EARTH LIMITED	Director	05/03/2004	05/03/2004	22/03/2010	Active	NO
6	U13209TG1988PLC008311	MADHUCON GRANITES LIMITED	Managing director	01/04/2015	15/05/2004	-	Active	NO
7	U70102TG2005PLC045060	MADHUCON LAND DEVELOPERS LIMITED	Director	15/01/2005	15/01/2005	19/03/2010	Active	NO
8	U45200TG2005PLC045366	MADHUCON PROPERTIES LIMITED	Director	15/02/2005	15/02/2005	19/03/2010	Active	NO
9	U72200TG2000PLC034060	MADHUCON INFOTECH LIMITED	Director	28/03/2006	28/03/2006	-	Active	NO
10	U40101TG2005PLC048264	SIMHAPURI ENERGY LIMITED	Managing director	11/09/2014	14/04/2007	-	Active	NO
11	U45309TG2000PLC034007	Madhucon Energy Limited	Director	01/07/2007	01/07/2007	14/02/2015	Active	NO
12	U45209TG2007PTC056733	Madhucon Heights Private Limited	Director	18/12/2007	18/12/2007	-	Active	NO
13	U55101TG2007PTC056818	Nama Hotels Private Limited	Director	24/12/2007	24/12/2007	19/03/2010	Active	NO
14	U74999TG2008PLC059009	Madhucon Mineral Resources Limited	Director	06/05/2008	06/05/2008	-	Active	NO
15	U74900TG2008PTC059203	NNR Infra Investments Private Limited	Director	16/05/2008	16/05/2008	-	Active	NO
16	U45200TG2006PLC049235	MADHUCON INFRA LIMITED	Director	03/10/2009	03/10/2009	14/11/2009	Active	NO
17	U45203TG2005PLC045689	MADHUCON AGRA-JAIPUR EXPRESSWAYS LIMITED	Director	24/07/2010	16/12/2009	-	Active	NO
18	U93000TG2008PLC060479	Madhucon Toll Highways Limited	Director	29/09/2010	16/12/2009	14/02/2015	Active	NO
19	U40108TG2010PTC066560	RAJANAGARAM GAS POWER PRIVATE LIMITED	Director	05/01/2010	05/01/2010	-	Active	NO
20	U40108TG2010PTC066570	NAMA ENERGY PRIVATE LIMITED	Director	06/01/2010	06/01/2010	-	Active	NO
21	U40108TG2010PTC071246	Ramnagar Power Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
22	U14102AP2014PTC095325	NAMA GRANITES PRIVATE LIMITED	Director	16/09/2014	16/09/2014	-	Active	NO

Name :

Mr. Kumar Venkata Naga Prasad Kandimalla

Designation :

Director

Address :

H NO 8-2-293/82/HE/16/A/1, P NO 16, UNIT-9, Valley View Enclave, Jubilee Hills, Hyderabad - 500034, Telangana, India

Date of Birth/Age :

20.08.1970

Date of Appointment :

20.09.2014

DIN No.:

00084398

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	U31909TG1999PLC033104	RITHWIK ENERGY SYSTEMS LIMITED	Director	30/01/2006	30/01/2006	06/04/2009	Active	NO
2	U40109TG1996PLC022967	CLARION POWER CORPORATION LIMITED	Whole-time director	30/01/2006	30/01/2006	06/04/2009	Active	NO
3	U40106KA2004PTC035046	AMRUTHA POWER PRIVATE LIMITED	Director	26/06/2008	26/06/2008	07/01/2014	Active	NO
4	U74210KA2006PTC038219	J H PATEL POWER PROJECT PRIVATE LIMITED	Director	18/09/2008	01/09/2008	07/01/2014	Active	NO
5	U40108TG2007PTC052684	LANCO WIND POWER PRIVATE LIMITED	Director	17/09/2009	24/09/2008	07/01/2014	Active	NO
6	U74900TG2008PTC061527	SPIRE ROTOR PRIVATE LIMITED	Director	23/10/2008	23/10/2008	07/01/2014	Active	NO
7	U40109TG2000PLC033791	NATIONAL ENERGY TRADING AND SERVICES LIMITED	Director	14/07/2010	21/05/2010	03/05/2012	Active	NO
8	U74999TN2010PTC076592	Bay of Bengal Gateway Terminal Private Limited	Additional director	24/07/2010	24/07/2010	21/01/2011	Under liquidation	NO
9	U45200TG2007PLC053124	LANCO HOSKOTE HIGHWAY LIMITED	Whole-time director	23/08/2011	03/08/2010	26/10/2013	Active	NO
10	U45400TG2007PLC053957	LANCO DEVIHALLI HIGHWAYS LIMITED	Whole-time director	23/08/2011	03/08/2010	26/10/2013	Active	NO
11	U45400HR2011PLC041920	LANCO KANPUR HIGHWAYS LIMITED	Director	04/07/2011	21/01/2011	07/01/2014	Active	NO
12	U40109TG2004PLC043236	MIRACH POWER LIMITED	Director	30/09/2011	29/01/2011	07/01/2014	Active	NO
13	U10200HR2010PLC041280	MAHATAMIL MINING AND THERMAL ENERGY LIMITED	Director	28/09/2011	02/09/2011	21/12/2013	Active	NO
14	U45209TG2012PTC083766	KNP Projects Private Limited	Director	22/10/2012	22/10/2012	-	Active	NO
15	L74210TG1990PLC011114	MADHUCON PROJECTS LIMITED	Director	27/09/2014	09/08/2014	-	Active	NO
16	U40101TG2005PLC048264	SIMHAPURI ENERGY LIMITED	Director	20/09/2014	11/09/2014	-	Active	NO
17	U45200TG2006PLC049235	MADHUCON INFRA LIMITED	Additional director	14/11/2014	14/11/2014	-	Active	NO
18	U72200TG2015PTC097313	MCC Consulting Private Limited	Director	20/01/2015	20/01/2015	-	Active	NO

Name :

Mr. Seethaih Nama

Designation :

Director

Address :

11-4-65/C, Nehru Nagar, Khammam, Hyderabad - 507003, Telangana India

Date of Birth/Age :

03.03.1966

Date of Appointment :

14.04.2007

DIN No.:

00784491

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	U70102TG1989PTC010666	BIMA QUARRING PRIVATE LIMITED	Director	10/11/1989	10/11/1989	19/03/2010	Active	NO
2	L74210TG1990PLC011114	MADHUCON PROJECTS LIMITED	Managing director	01/05/2013	15/03/1990	-	Active	NO
3	U51909TG1990PLC011796	NAMA PROPERTIES LIMITED	Director	26/09/1990	26/09/1990	19/03/2010	Active	NO
4	U65993TG1993PLC016360	Nama Investments Limited	Director	29/09/1993	29/09/1993	-	Active	NO
5	U45309TG2000PLC034007	Madhucon Energy Limited	Director	24/03/2000	24/03/2000	19/03/2010	Active	NO
6	U15427TG2002PLC039859	MADHUCON SUGAR AND POWER INDUSTRIES LIMITED	Director	05/03/2004	05/03/2004	-	Active	NO
7	U45200TG1998PLC029310	MBN-ANCHORED EARTH LIMITED	Managing director	05/03/2004	05/03/2004	19/03/2010	Active	NO
8	U70102TG2005PLC045060	MADHUCON LAND DEVELOPERS LIMITED	Director	15/01/2005	15/01/2005	14/02/2015	Active	NO
9	U45200TG2005PLC045366	MADHUCON PROPERTIES LIMITED	Director	15/02/2005	15/02/2005	16/02/2015	Active	NO
10	U45203TG2005PLC045689	MADHUCON AGRA-JAIPUR EXPRESSWAYS LIMITED	Director	06/06/2008	23/03/2005	09/06/2008	Active	NO
11	U45200TG2006PLC048941	TN (DK) EXPRESSWAYS LIMITED	Director	30/06/2014	31/01/2006	14/02/2015	Active	NO
12	U45200TG2006PLC049235	MADHUCON INFRA LIMITED	Director	24/10/2009	22/02/2006	-	Active	NO
13	U72200TG2000PLC034060	MADHUCON INFOTECH LIMITED	Director	28/03/2006	28/03/2006	19/03/2010	Active	NO
14	U45200TG2006PLC049815	TRICHY-THANJAVUR EXPRESSWAYS LIMITED	Director	13/04/2006	13/04/2006	14/02/2015	Active	NO
15	U45203TG2006PLC050114	MADURAI-TUTICORIN EXPRESSWAYS LIMITED	Director	11/05/2006	11/05/2006	-	Active	NO
16	U45203TG2006PLC050829	Madhucon Estates Limited	Director	07/08/2006	07/08/2006	14/02/2015	Active	NO
17	U40101TG2005PLC048264	SIMHAPURI ENERGY LIMITED	Director	14/04/2007	14/04/2007	-	Active	NO
18	U45209TG2007PTC056733	Madhucon Heights Private Limited	Director	18/12/2007	18/12/2007	19/03/2010	Active	NO
19	U74999TG2008PLC059009	Madhucon Mineral Resources Limited	Director	06/05/2008	06/05/2008	19/03/2010	Active	NO
20	U74900TG2008PTC059203	NNR Infra Investments Private Limited	Director	16/05/2008	16/05/2008	-	Active	NO
21	U55101TG2007PTC056818	Nama Hotels Private Limited	Director	29/09/2009	18/07/2009	14/02/2015	Active	NO
22	U40108TG2010PTC066560	RAJANAGARAM GAS POWER PRIVATE LIMITED	Director	05/01/2010	05/01/2010	-	Active	NO
23	U40108TG2010PTC066570	NAMA ENERGY PRIVATE LIMITED	Director	06/01/2010	06/01/2010	-	Active	NO
24	U45209TG2010PLC068742	CHHAPRA-HAJIPUR EXPRESSWAYS LIMITED	Director	14/01/2015	02/06/2010	-	Active	NO
25	U45203TG2011PLC073469	BARASAT-KRISHNAGAR EXPRESSWAYS LIMITED	Director	24/03/2011	24/03/2011	-	Active	NO
26	U45209TG2011PLC073568	RANCHI EXPRESSWAYS LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
27	U45209AP2011PLC077676	Vijayawada-Machilipatnam Expressways Limited	Director	27/09/2013	28/11/2011	14/02/2015	Active	NO
28	U45203TG2012PLC080775	Rajauli-Bakhtiyarpur Expressways Limited	Director	07/05/2012	07/05/2012	-	Active	NO

Name :

Mr. Nama Prithvi Teja

Designation :

Director

Address :

H.NO. 8-2-293/82/214, Road No.14, Jubilee Hills, Hyderabad - 500033, Telangana, India

Date of Birth/Age :

17.09.1988

Date of Appointment :

20.09.2014

DIN No.:

02845692

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	U40108TG2010PTC066560	RAJANAGARAM GAS POWER PRIVATE LIMITED	Director	05/01/2010	05/01/2010	-	Active	NO
2	U70102TG2005PLC045060	MADHUCON LAND DEVELOPERS LIMITED	Director	29/09/2010	19/03/2010	-	Active	NO
3	U45209TG2007PTC056733	Madhucon Heights Private Limited	Director	30/08/2010	19/03/2010	14/02/2015	Active	NO
4	U51909TG1990PLC011796	NAMA PROPERTIES LIMITED	Director	29/09/2010	19/03/2010	25/02/2015	Active	NO
5	U40300TG2010PTC068127	TILWARA HYDRO POWER PRIVATE LIMITED	Director	28/04/2010	28/04/2010	-	Active	NO
6	U40108TG2010PTC068128	Agastyamuni Hydro Power Private Limited	Director	28/04/2010	28/04/2010	-	Active	NO
7	U40108TG2010PTC068130	Rudraprayag Hydro Power Private Limited	Director	28/04/2010	28/04/2010	-	Active	NO
8	U40105TG2010PTC068728	Umarwada Gas Power Project Private Limited	Director	02/06/2010	02/06/2010	-	Active	NO
9	U45209TG2010PLC068742	CHHAPRA-HAJIPUR EXPRESSWAYS LIMITED	Director	02/06/2010	02/06/2010	-	Active	NO
10	U40108TG2010PTC070880	PALLAKURICHI POWER PRIVATE LIMITED	Director	19/10/2010	19/10/2010	-	Active	NO
11	U40108TG2010PTC071051	TIRUCHENDUR POWER PRIVATE LIMITED	Director	02/11/2010	02/11/2010	-	Active	NO
12	U40108TG2010PTC071246	Ramnagar Power Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
13	U45203TG2011PLC073469	BARASAT-KRISHNAGAR EXPRESSWAYS LIMITED	Director	24/03/2011	24/03/2011	-	Active	NO
14	U45209TG2011PLC073568	RANCHI EXPRESSWAYS LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
15	U45209AP2011PLC077676	Vijayawada-Machilipatnam Expressways Limited	Director	28/11/2011	28/11/2011	-	Active	NO
16	U45200TG2005PLC045366	MADHUCON PROPERTIES LIMITED	Director	26/09/2014	14/12/2013	-	Active	NO
17	U40101TG2005PLC048264	SIMHAPURI ENERGY LIMITED	Director	20/09/2014	23/12/2013	-	Active	NO
18	U14102AP2014PTC095325	NAMA GRANITES PRIVATE LIMITED	Director	16/09/2014	16/09/2014	-	Active	NO
19	U15427TG2002PLC039859	MADHUCON SUGAR AND POWER INDUSTRIES LIMITED	Director	14/02/2015	14/02/2015	-	Active	NO

Name :

Mr. Chinthapalli Lakshimikumari

Designation :

Director

Address :

6-3-259/1, PLOT NO.402, Srujana Apartments, Bank Colony, Khammam, Hyderabad - 507002, Telangana, India

Date of Birth/Age :

21.06.1955

Date of Appointment :

20.09.2014

DIN No.:

06942473

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	L74210TG1990PLC011114	MADHUCON PROJECTS LIMITED	Director	27/09/2014	09/08/2014	-	Active	NO
2	U40101TG2005PLC048264	SIMHAPURI ENERGY LIMITED	Director	20/09/2014	11/09/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Maroo Yatish Kumar
Designation :	Secretary
Address :	E-206, Jala Vayu Towers , Lower Tank Bund, Hyderabad - 500080, Telangana, India
Date of Birth/Age :	16.10.1985
Date of Appointment :	27.11.2012
PAN No.:	ACGPY1304D
Name :	Mr. Krishna Rao
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 20.09.2014

Names of Shareholders	No. of Shares
Madhucon Projects Limited, India	64170714
Nama Seethaiah	180000
Nama Krishnaiah	200000
Nama Nageshwar Rao	900000
Nama Chinnamma	560000
Madhucon Infra Limited, India	743000600
Nama Prithvi Teja	70000
Madhucon Sugar and Power Industries Limited, India	18800000
Madhucon Granites Limited, India	44260000
Total	872141314

Equity Share Break up (Percentage of Total Equity)

AS ON 20.09.2014

Category	Percentage
Bodies corporate	99.80
Directors or relatives of Directors	0.20
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is primarily engaged in the business of generation of power.

Products :

Item Code No.	Product Description
27160000	Electrical Energy

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

• State Bank of India, Corporate Accounts Group Branch-13039, ''ozone'', 
  2nd floor, #, 6-3-669, Panjagutta, Hyderabad, - 500082, Telangana , India

• ICICI bank limited, Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India

• IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loans from banks	20968.788	18502.221
Rupee term loans from others	470.000	4.495
SHORT TERM BORROWING
Rupee term loans from banks	0.000	1001.316
Working capital loans from banks	773.859	541.709
Total	22212.647	20049.741

Auditors :
Name :	Kota and Company Chartered Accountants
Address :	#331, Arora Colony, Road No.3, Banjara Hills, Hyderabad - 500034, Telangana, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAPFM9554J
Memberships :	Not Available
Collaborators :	Not Available
Holding company:	Madhucon Infra Limited Cin No.: U45200TG2006PLC049235
Ultimate Holding company:	Madhucon Projects Limited, India Cin No.: L74210AP1990PLC011114
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Madhucon Granites Limited, India Cin No.: U13209TG1988PLC008311 Madhucon Sugar And Power Industries Limited, India Cin No.: U15427TG2002PLC039859
Subsidiaries :	Madhucon Agra-Jaipur Expressways Limited, India Cin No.: U45203TG2005PLC045689 TN (DK) Expressways Limited, India Cin No.: U45200TG2006PLC048941 Madurai-Tuticorin Expressways Limited, India Cin No.: U45203TG2006PLC050114 Trichy-Thanjavur Expressways Limited, India Cin No.: U45200TG2006PLC049815 Ranchi Expressways Limited, India Cin No.: U45209TG2011PLC073568 PT. Madhucon Sriwijaya Power, Indonesia PT. Madhucon Indonesia, Indonesia

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000000	Equity Shares	Rs.10/- each	Rs. 30000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
807980600	Equity Shares	Rs.10/- each	Rs. 8079.806 Million

AS ON 20.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000000	Equity Shares	Rs.10/- each	Rs. 30000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
872141314	Equity Shares	Rs.10/- each	Rs. 8721.413 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	8079.806	7790.306	6516.706
(b) Reserves & Surplus	1658.993	247.521	(47.878)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	600.000
Total Shareholders’ Funds (1) + (2)	9738.799	8037.827	7068.828
(3) Non-Current Liabilities
(a) long-term borrowings	23704.180	18527.716	15783.593
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	3.685	2512.327	2194.586
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	23707.865	21040.043	17978.179
(4) Current Liabilities
(a) Short term borrowings	773.859	1543.025	0.000
(b) Trade payables	1158.780	1381.535	2249.231
(c) Other current liabilities	2038.217	1654.890	818.731
(d) Short-term provisions	337.147	75.910	8.036
Total Current Liabilities (4)	4308.003	4655.360	3075.998
TOTAL	37754.667	33733.230	28123.005
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	26652.767	15316.164	224.202
(ii) Intangible Assets	3.224	0.000	0.000
(iii) Capital work-in-progress	6855.654	14844.190	26070.151
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1588.873	647.757	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	35100.518	30808.111	26294.353
(2) Current assets
(a) Current investments	2.155	91.543	0.338
(b) Inventories	673.130	23.568	6.133
(c) Trade receivables	770.994	469.173	38.048
(d) Cash and cash equivalents	308.696	28.553	88.309
(e) Short-term loans and advances	899.174	2312.282	1695.824
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	2654.149	2925.119	1828.652
TOTAL	37754.667	33733.230	28123.005

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	11008.624	3689.858	0.000
	Other Income	17.860	30.600	0.000
	TOTAL	11026.484	3720.458	0.000
Less	EXPENSES
	Cost of Materials Consumed	5616.230	1057.516	0.000
	Purchases of Stock-in-Trade	0.000	0.000	34.285
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	(6.133)
	Employees benefits expense	133.344	122.903	0.985
	Other expenses	1305.224	452.974	15.396
	TOTAL	7054.798	1633.393	44.533
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	3971.686	2087.065	(44.533)
Less	FINANCIAL EXPENSES	1562.856	1043.233	0.111
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2408.830	1043.832	(44.644)
Less/ Add	DEPRECIATION/ AMORTISATION	845.416	674.548	3.234
	PROFIT/ (LOSS) BEFORE TAX	1563.414	369.284	(47.878)
Less	TAX	151.942	73.886	0.000
	PROFIT/ (LOSS) AFTER TAX	1411.472	295.398	(47.878)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	247.520	(47.878)	0.000
	Balance Carried to the B/S	1658.992	247.520	(47.878)
	Earnings / (Loss) Per Share (Rs.)	1.62	0.34	(0.05)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	1666.379	1428.907	607.140
Cash generated from operations	N.A	N.A	N.A

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	12.82	8.01	N.A
Operating Profit Margin (PBIDT/Sales)	(%)	36.08	56.56	N.A
Return on Total Assets (PBT/Total Assets}	(%)	5.06	1.96	(2.33)
Return on Investment (ROI) (PBT/Networth)		0.16	0.05	(0.01)
Debt Equity Ratio (Total Debt /Networth)		2.68	2.67	2.32
Current Ratio (Current Asset/Current Liability)		0.62	0.63	0.59

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	6516.706	7790.306	8079.806
Reserves & Surplus	(47.878)	247.521	1658.993
Share Application money pending allotment	600.000	0.000	0.000
Net worth	7068.828	8037.827	9738.799
long-term borrowings	15783.593	18527.716	23704.180
Short term borrowings	0.000	1543.025	773.859
Current Maturities of Long-Term Debts	607.140	1428.907	1666.379
Total borrowings	16390.733	21499.648	26144.418
Debt/Equity ratio	2.319	2.675	2.685

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	3689.858	11008.624
		198.348

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	0.000	3689.858	11008.624
Profit	(47.878)	295.398	1411.472
		8.01%	12.82%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	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

BUSINESS OPERATIONS:

The company had started the Thermal Power plant construction with a total capacity of 1920 MW at Thamminapatnam and Mommidi Villages at Chillakur Mandal, Nellore District, Telangana, India.

ECONOMIC OUTLOOK:

India's economic and Industrial Growth in the FY 2015 is expected to rise to 5.5 % from 4.7 % growth in FY 2014.Though inflation continues to remain high, but the New Government policies will definitely have favorable affect for bringing down the inflation.

SECTOR OVERVIEW:

Power is one of the most critical components of for development of infrastructure, manufacture and other sectors leading to Economic Growth and well-being of India. The existence and development of adequate power infrastructure is essential for sustained growth of the Indian economy. With a production of 1,006 terawatt hours (TWh), India is the fifth largest producer and consumer of electricity in the world after US, China, Japan and Russia.

India currently has an installed capacity of 2, 45,393 MW as on 30.04.2014 of which 28 per cent was contributed by Central Sector, 38 percent from the state Sector and remaining 34 per cent from private sector. India has emerged as one of the fastest growing Economies in the world. Its current economic performance reflects a healthy trend based on increased consumption, investment and exports. Over the next five years, this growth is expected to continue. The Government of India has identified the power sector as a key sector of focus to promote sustained industrial growth.

The Indian power sector is one of the most diversified in the world. Sources for power generation range from commercial sources such as coal, lignite, natural gas, oil, hydro and nuclear power to other viable non-conventional sources such as wind, solar, and agriculture and domestic waste.

The demand for electricity in the country has been growing at a rapid rate and is expected to grow further in the years to come. India faced a power deficit of approximately 8.5 per cent and a peak demand deficit of over 10 per cent in FY11 primarily due to fuel shortage. This shortage can be attributed to aggregate technical and commercial (ATandC) losses, which is about 30 per cent with a high variance across various utilities. Therefore, it is essential for the country to work proactively to increase the sector's generation capacity in a sustainable manner by addressing key challenges, such as supply shortage and distribution losses without damaging the environment, to attain a high growth rate during the 12th Five Year Plan.

In order to meet the increasing requirement of electricity, massive addition to the installed generating capacity in the country is required. The coal industry could also get a boost in 2014. India plans to start issuing new mining rights through auction. Even though India is home to world's fourth largest coal reserves, it is facing a severe shortage of the fuel, which powers most of its power plants. India's annual per capita power consumption is about 879 kwh which is substantially lower than other developed and developing countries. To enhance the per capita power consumption of an average Indian citizen, growth, augmentation of power generation capacity is essential. The Compounded Annual Growth Rate (CAGR) in the energy generation during 12th Plan has been estimated at 9 % against the CAGR of 8.6% of 11th Plan (2007-2012).

INVESTMENTS IN POWER SECTOR:

The investment climate is very positive in the power sector. Due to policy liberalisation, the sector has witnessed higher investment flows than envisaged. The power ministry has set a target for adding 76,000 MW of electricity generation capacity in the 12th Plan (2012-17) and 93,000 MW in the 13th Plan (2017-2022).

The Working group on power for formulation of the 12th Five Year Plan has estimated total fund requirement of Rs 1.372 Million (US$ 227.98 billion) for the power sector. The industry attracted Foreign Direct Investment (FDI) worth Rs 40,4176.000 Million (US$ 6.72 billion) during April 2000 to January 2014.The capacity addition target for the 12th Plan is about 88,537 MW.

During FY 13, the government liberalised FDI policy for Power Trading Exchanges. Foreign investments in power exchanges registered under the Central Electricity Regulatory Commission Regulations, 2010, are allowed up to 49 per cent (FDI 26 per cent and FII 23 per cent).

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and Advance	2265.392	21.000
Total	2265.392	21.000

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10571812	07/05/2015	3,605,000,000.00	State Bank of India	Corporate Accounts Group Branch-13039, ''ozone'',  2nd floor, #, 6-3-669, Panjagutta, Hyderabad, Telangana - 500082, India	C54869151
2	10545907	12/01/2015	1,000,000,000.00	Axis Bank Limited	6-3-879/B, 1st Floor,, Greenlands Road, Begumpet,  , Hyderabad, Telangana - 500016, INDIA	C41844432
3	10533850	28/01/2015 *	1,765,000,000.00	State Bank of India	Corporate Accounts Group Branch-13039, ''ozone'',  2nd floor, #, 6-3-669, Panjagutta, Hyderabad, Telangana - 500082, India	C42031732
4	10507952	23/04/2015 *	1,480,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, India	C53751574
5	10505993	04/06/2014	750,000,000.00	ICICI BANK LIMITED	Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India	C09192394
6	10471557	22/11/2013	211,487,589.00	SREI EQUIPMENT FINANCE LIMITED	'Vishwakarma', 86c, Topsia Road,, Kolkata, West Bengal - 700046, INDIA	B94006384
7	10471549	22/11/2013	288,512,411.00	SREI EQUIPMENT FINANCE LIMITED	'Vishwakarma', 86c, Topsia Road,, Kolkata, West Bengal - 700046, INDIA	B94004678
8	10435504	25/06/2013	13,967,289.00	L & T FINANCE LIMITED	L&T House,, Ballard Estate, Mumbai- 400001, Maharashtra India	B79047320
9	10361518	19/04/2014 *	1,420,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	IDBI Trusteeship Services Limited, Asian Building , 17, R.Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, INDIA	C03524048
10	10261156	15/05/2013 *	12,044,100,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001, India	B76780584

FIXED ASSETS

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

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.63.81
UK Pound	1	Rs.101.25
Euro	1	Rs.72.35

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	TRI
Report Prepared by :	RKI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.