MIRA INFORM REPORT

Report No. :	310810
Report Date :	05.03.2015

IDENTIFICATION DETAILS

Name :	ROCKLAND HOSPITALS LIMITED
Registered Office :	B-33-34, Qutab Institutional Area, New Delhi - 110016
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.08.2004
Com. Reg. No.:	55-128077
Capital Investment / Paid-up Capital :	Rs. 344.282 Millions
CIN No.: [Company Identification No.]	U85110DL2004PLC128077
TAN No.: [Tax Deduction & Collection Account No.]	DELR14983D
PAN No.: [Permanent Account No.]	AACCR4709E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Human Health and Social Care Services.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ca (13)

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 and Delayed
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. The rating takes into consideration the stretched liquidity profile of the company as exhibited by delays in servicing of its debt obligations. However, business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings on safe and secured 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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	Fund Based Facilities: “D”
Rating Explanation	Expected to be in default.
Date	October, 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 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-11-47667100/ 41222222)

LOCATIONS

Registered Office :	B-33-34, Qutab Institutional Area, New Delhi - 110016, India
Tel. No.:	91-11-47667100 / 41222222 / 47667100 to 499
Fax No.:	91-11-41688758
E-Mail :	finance@rocklandhospital.net info@rocklandhospital.net finance@rocklandhospitals.com
Website :	http://www.rocklandhospital.net

DIRECTORS

As on 13.08.2014

Name :

Tejinder Singh Laschar

Designation :

Director

Address :

C-287, Defence Colony, New Delhi – 110024, India

Date of Birth/Age :

25.09.1947

Date of Appointment :

13.08.2014

DIN No. :

00226860

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	U67200MH2003PTC141356	PNB INSURANCE BROKING PRIVATE LIMITED	Director	21-02-2005	21-02-2005	21-04-2008	Active	NO
2	U67190MH2007PTC170525	DAIWA TRUSTEE COMPANY (INDIA) PRIVATE LIMITED	Director	29-05-2008	29-05-2008	05-07-2013	Active	NO
3	L74899DL1993PLC053677	IFCI LIMITED	Director	18-09-2009	14-10-2008	31-08-2010	Active	NO
4	U65922DL1988PLC033856	PNB HOUSING FINANCE LIMITED	Director	08-08-2014	13-02-2009	-	Active	NO
5	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	13-08-2014	13-08-2014	-	Active	NO
6	U65990MH1994GOI081616	BOBCARDS LIMITED	Director	18-12-2014	18-12-2014	-	Active	NO

Name :

Mr. Pradeep Kumar Dave

Designation :

Director

Address :

A-8, Sector - 26, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

26.06.1939

Qualification :

M.B.B.S., M.S., F.I.C.S., F.I.M.S.A., F.A.M.S.

Date of Appointment :

11.08.2008

DIN No.:

00229672

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	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-2005	28-12-2005	26-11-2014	Active	NO
2	U74899DL2006NPL144824	VISHWAS VISION FOR HEALTH. WELFARE AND SPECIAL NEEDS	Director	30-09-2008	22-01-2008	21-05-2014	Active	NO
3	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	11-08-2008	17-05-2008	-	Active	NO

Name :

Mr. Prabhat Kumar Srivastava

Designation :

Managing Director

Address :

B-31, Soami Nagar, New Delhi - 110017, India

Date of Birth/Age :

30.11.1961

Qualification :

B.Com

Date of Appointment :

01.03.2013

PAN No.:

AARPS6227N

DIN No.:

00524482

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19-05-1993	19-05-1993	02-01-2009	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Managing director	01-03-2013	16-08-2004	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	21-12-2005	21-12-2005	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-2005	28-12-2005	-	Active	NO
5	U85110DL2007PTC158985	ROCKLAND LABORATORIES PRIVATE LIMITED	Director	08-02-2007	08-02-2007	-	Active	NO
6	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	30-01-2008	30-01-2008	16-05-2011	Active	NO
7	U45200DL2008PTC174937	ROCK LAND Private Limited	Director	05-03-2008	05-03-2008	-	Active	NO
8	U11100DL2013PTC253150	ROCKLAND OIL & GAS PRIVATE LIMITED	Director	30-05-2013	30-05-2013	-	Active	NO
9	U51397DL2013PTC256807	ROCKLAND PHARMACY PRIVATE LIMITED	Director	22-08-2013	22-08-2013	-	Active	NO
10	U85100DL2013PTC259809	ROCKLAND HOSPITALS NOIDA PRIVATE LIMITED	Nominee director	17-01-2014	01-11-2013	-	Active	NO
11	U85100DL2013PLC262225	ROCKLAND HEALTHCARE LIMITED	Nominee director	16-12-2013	16-12-2013	-	Active	NO
12	U85100DL2013PTC262322	Rockland Diagnostics Services Private Limited	Director	17-12-2013	17-12-2013	-	Active	NO
13	U85100DL2014PLC264322	ROCKLAND G P NETWORK LIMITED	Nominee director	01-02-2014	01-02-2014	-	Active	NO
14	U85100DL2014PLC264404	ROCKLAND HOSPITAL SERVICES LIMITED	Nominee director	04-02-2014	04-02-2014	-	Active	NO

Name :

Mr. Rajesh Kumar Srivastava

Designation :

Managing Director

Address :

B-31, Soami Nagar, New Delhi - 110017, India

Date of Birth/Age :

20.02.1959

Qualification :

B.Com

Date of Appointment :

01.03.2013

PAN No.:

AARPS6225Q

DIN No.:

00524536

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19-05-1993	19-05-1993	02-01-2009	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Managing director	01-03-2013	16-08-2004	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	21-12-2005	21-12-2005	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-2005	28-12-2005	-	Active	NO
5	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	27-12-2006	27-12-2006	16-05-2011	Active	NO
6	U85110DL2007PTC158985	ROCKLAND LABORATORIES PRIVATE LIMITED	Director	08-02-2007	08-02-2007	-	Active	NO
7	U45200DL2008PTC174937	ROCK LAND Private Limited	Director	05-03-2008	05-03-2008	-	Active	NO
8	U51397DL2013PTC256807	ROCKLAND PHARMACY PRIVATE LIMITED	Director	22-08-2013	22-08-2013	-	Active	NO
9	U85100DL2013PTC259809	ROCKLAND HOSPITALS NOIDA PRIVATE LIMITED	Nominee director	17-01-2014	01-11-2013	-	Active	NO
10	U85100DL2013PLC262225	ROCKLAND HEALTHCARE LIMITED	Nominee director	16-12-2013	16-12-2013	-	Active	NO
11	U85100DL2013PTC262322	Rockland Diagnostics Services Private Limited	Director	17-12-2013	17-12-2013	-	Active	NO
12	U85100DL2014PLC264322	ROCKLAND G P NETWORK LIMITED	Nominee director	01-02-2014	01-02-2014	-	Active	NO
13	U85100DL2014PLC264404	ROCKLAND HOSPITAL SERVICES LIMITED	Nominee director	04-02-2014	04-02-2014	-	Active	NO

Name :

Mr. Rishi Kumar Srivastava

Designation :

Director

Address :

B-31, Some Nagar, New Delhi, India

Date of Birth/Age :

05.04.1968

Qualification :

B.Com

Date of Appointment :

16.08.2004

PAN No.:

AARPS6229C

DIN No.:

00524588

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19-05-1993	19-05-1993	02-01-2009	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	16-08-2004	16-08-2004	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Managing director	01-04-2009	21-12-2005	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-2005	28-12-2005	-	Active	NO
5	U85110DL2007PTC158985	ROCKLAND LABORATORIES PRIVATE LIMITED	Director	08-02-2007	08-02-2007	-	Active	NO
6	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	30-01-2008	30-01-2008	16-05-2011	Active	NO
7	U45200DL2008PTC174937	ROCK LAND Private Limited	Director	05-03-2008	05-03-2008	-	Active	NO
8	U11100DL2013PTC253150	ROCKLAND OIL & GAS PRIVATE LIMITED	Director	30-05-2013	30-05-2013	-	Active	NO
9	U51397DL2013PTC256807	ROCKLAND PHARMACY PRIVATE LIMITED	Director	22-08-2013	22-08-2013	-	Active	NO
10	U85100DL2013PTC260688	GRACIA HEALTHCARE FOR YOU PRIVATE LIMITED	Director	23-11-2013	23-11-2013	-	Active	NO
11	U85100DL2013PLC262225	ROCKLAND HEALTHCARE LIMITED	Nominee director	16-12-2013	16-12-2013	-	Active	NO
12	U85100DL2013PTC262322	Rockland Diagnostics Services Private Limited	Director	17-12-2013	17-12-2013	-	Active	NO
13	U85100DL2014PLC264322	ROCKLAND G P NETWORK LIMITED	Nominee director	01-02-2014	01-02-2014	-	Active	NO
14	U85100DL2014PLC264404	ROCKLAND HOSPITAL SERVICES LIMITED	Nominee director	04-02-2014	04-02-2014	-	Active	NO

Name :

Mr. Aditya Kumar Bhandari

Designation :

Whole-Time Director

Address :

B-404, First Floor, C.R. Park, New Delhi – 110017, India

Date of Birth/Age :

12.02.1961

Qualification :

Graduate

Date of Appointment :

01.03.2013

PAN No.:

AAFPB5567Q

DIN No.:

00524632

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	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Whole-time director	01-03-2013	04-08-2004	Active	NO
2	U24232DL2004PTC129207	ADITYA MEDICOS PRIVATE LIMITED	Director	17-09-2004	17-09-2004	Active	NO
3	U67120WB1996PLC135493	LIPI FINSTOCK LIMITED	Director	01-06-2010	01-06-2010	Active	NO
4	U67190DL2010PTC199898	AADARSH FINMAN ADVISORS PRIVATE LIMITED	Director	29-09-2012	17-01-2012	Active	NO
5	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	30-09-2013	01-04-2013	Active	NO
6	U11100DL2013PTC253150	ROCKLAND OIL AND GAS PRIVATE LIMITED	Director	30-05-2013	30-05-2013	Active	NO
7	U85100DL2013PTC259809	ROCKLAND HOSPITALS NOIDA PRIVATE LIMITED	Nominee director	17-01-2014	01-11-2013	Active	NO

Name :

Mr. Bidhan Das

Designation :

Director

Address :

2733, IIIrd Floor, Savapriya Vihar, New Delhi – 110066, India

Date of Birth/Age :

30.03.1963

Date of Appointment :

03.08.2012

DIN No.:

01182152

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	U72400DL2007PTC159745	OCTAVO SOLUTIONS PRIVATE LIMITED	Managing director	01-12-2013	26-02-2007	-	Active	NO
2	U85110OR2006PTC008676	UTKAL HEALTHCARE PRIVATE LIMITED	Director	02-04-2011	02-04-2011	-	Active	NO
3	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	03-08-2012	05-10-2011	-	Active	NO
4	U70101OR2012PTC014829	OCTAVO INFRA SERVICES PRIVTAE LIMITED	Managing director	04-06-2012	19-01-2012	-	Active	NO
5	U85100DL2012PTC245585	PINK LOTUS CLINICS PRIVATE LIMITED	Director	03-12-2012	03-12-2012	01-04-2013	Active	NO
6	U85100DL2013NPL247764	ORLEAN HEALTH CARE FOUNDATION	Director	01-02-2013	01-02-2013	-	Active	NO

KEY EXECUTIVES

Name :	Akansh Singhal
Designation :	Company Secretary
Address :	S-62, School Block, Shakarpur, Delhi – 110092, India
Date of Birth/Age :	03.02.1990
Date of Appointment :	01.04.2013

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

NOTE: SHAREHOLDING AND ALLOTTEES DETAILS FILE ATTACHED.

As on 13.08.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	11.72
Bodies corporate	62.90
Directors or relatives of Directors	21.19
Other top fifty shareholders	4.19
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Human Health and Social Care Services.

Products :

Item Code No. (ITC Code)	Product Description
99931210	Human Health and Social Care Services

Brand Names :

--

Agencies Held :

--

Exports :

--

Imports :

--

Terms :

--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Name of the Person (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

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	2761.711	2297.447
Rupee term loans from others	101.381	3.683
Loans repayable on demand from others	(59.398)	(18.282)
SHORT TERM BORROWINGS
Rupee term loans from banks (Cash credit is secured by hypothecation of receivables and other current assets of the Company situated at Qutab Institutional Area, Dwarka and Manesar and second charge on the medical equipments and other fixed assets which are already charged to the term loans.)	177.341	34.391
Rupee term loans from others (Unsecured loan from Directors of the Company, repayable on demand.)	71.307	11.220
Total	3052.342	2328.459

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	7^th Floor, Building 10,Tower B, DLF Cyber Ci ty Complex, DLF City Phase II, Gurgaon – 122002, Haryana, India
Income-tax PAN of auditor or auditor's firm :	AABFD2095B
Memberships :	--
Collaborators :	--
Subsidiary Company :	Rockland Oil and Gas Private Limited (ROGPL) (w.e.f. June 25, 2013) U11100DL2013PTC253150 Rockland Pharmacy Private Limited (RPPL) (w.e.f August 22, 2013 and ceased to be subsidiary w.e.f. October 3, 2013) U51397DL2013PTC256807 Rockland Hospitals Noida Private Limited (RHNPL) (w.e.f. November 1, 2013 and ceased to be subsidiary w.e.f. January 17, 2014) U85100DL2013PTC259809 Rockland Healthcare Limited (RHPL) (w.e.f. January 8, 2014) U85100DL2013PLC262225 Rockland Diagnostics Services Private Limited (RLPL) (w.e.f. June 25, 2013 and ceased to be subsidiary w.e.f. October 3, 2013) U85100DL2013PTC262322
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Foundation for Applied Research in Cancer (Trust) · Somya Constructions Private Limited CIN No.: U74899DL1993PTC053645 · Rockland Hotels Limited CIN No.: U55101DL2005PLC143881 · Akhil Meditech Private Limited · Lipi Finstock Limited · Rockland Diagnostics Services Private Limited

CAPITAL STRUCTURE

After 13.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
36,000,000	Equity Shares	Rs.10/- each	Rs. 360.000 Millions
1,000,000	Preference Shares	Rs.10/- each	Rs. 10.000 Millions
	Total		Rs. 370.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
34,483,697	Equity Shares	Rs.10/- each	Rs. 344.837 Millions

As on 13.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
36,000,000	Equity Shares	Rs.10/- each	Rs. 360.000 Millions
1,000,000	Preference Shares	Rs.10/- each	Rs. 10.000 Millions
	Total		Rs. 370.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
34,428,199	Equity Shares	Rs.10/- each	Rs. 344.282 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	344.282	327.027	285.231
(b) Reserves & Surplus	2537.275	2491.489	2143.842
(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)	2881.557	2818.516	2429.073
(3) Non-Current Liabilities
(a) long-term borrowings	2803.694	2282.847	1517.098
(b) Deferred tax liabilities (Net)	0.000	1.137	1.138
(c) Other long term liabilities	66.986	77.719	36.010
(d) long-term provisions	11.968	6.572	3.347
Total Non-current Liabilities (3)	2882.648	2368.275	1557.593
(4) Current Liabilities
(a) Short term borrowings	248.648	45.612	30.822
(b) Trade payables	314.191	157.800	147.434
(c) Other current liabilities	307.502	191.450	75.766
(d) Short-term provisions	0.548	0.916	0.550
Total Current Liabilities (4)	870.889	395.778	254.572
TOTAL	6635.094	5582.569	4241.238
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5647.668	3708.042	1835.157
(ii) Intangible Assets	162.599	192.698	173.684
(iii) Capital work-in-progress	36.406	1276.417	1730.596
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.551	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	183.358	123.943	295.441
(e) Other Non-current assets	0.000	0.000	0.290
Total Non-Current Assets	6030.582	5301.100	4035.168
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.242	5.636	3.694
(c) Trade receivables	521.736	201.349	121.773
(d) Cash and cash equivalents	57.698	62.096	58.488
(e) Short-term loans and advances	6.525	5.359	19.348
(f) Other current assets	13.311	7.029	2.767
Total Current Assets	604.512	281.469	206.070
TOTAL	6635.094	5582.569	4241.238

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1465.145	606.520	374.238
		Other Income	22.221	5.509	19.381
		TOTAL (A)	1487.366	612.029	393.619
Less	EXPENSES
		Cost of Materials Consumed	451.805	147.343	89.967
		Employees benefits expense	312.487	158.030	104.803
		Other expenses	507.554	241.987	138.924
		TOTAL (B)	1271.846	547.360	333.694
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		215.520	64.669	59.925
Less	FINANCIAL EXPENSES (D)		174.610	36.443	17.007
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		40.910	28.226	42.918
Less/ Add	DEPRECIATION/ AMORTISATION (F)		150.005	52.980	39.134
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(109.095)	(24.754)	3.784
Less	TAX (H)		(1.137)	0.000	1.137
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(107.958)	(24.754)	2.647
	IMPORTS
		Capital Goods	25.102	14.376	0.000
	TOTAL IMPORTS		25.102	14.376	0.000
	Earnings / (Loss) Per Share (Rs.)		(3.25)	(0.81)	0.11

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(7.37)	(4.08)	0.71
Operating Profit Margin (PBDIT/Sales)	(%)	14.71	10.66	16.01
Return on Total Assets (PBT/Total Assets}	(%)	(1.65)	(0.57)	0.15
Return on Investment (ROI) (PBT/Networth)		(0.04)	(0.01)	0.00
Debt Equity Ratio (Total Debt/Networth)		1.06	0.83	0.64
Current Ratio (Current Asset/Current Liability)		0.69	0.71	0.81

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	285.231	327.027	344.282
Reserves & Surplus	2143.842	2491.489	2537.275
Net worth	2429.073	2818.516	2881.557
long-term borrowings	1517.098	2282.847	2803.694
Short term borrowings	30.822	45.612	248.648
Total borrowings	1547.920	2328.459	3052.342
Debt/Equity ratio	0.637	0.826	1.059

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	374.238	606.520	1465.145
		62.068	141.566

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	374.238	606.520	1465.145
Profit	2.647	(24.754)	(107.958)
	0.71%	(4.08%)	(7.37%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10534975	02/12/2014	140,000,000.00	ORIENTAL BANK OF COMMERCE	1ST FLOOR, HARSHA BHAWAN, E- BLOCK, CONNUAGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	C36001501
2	10538258	28/11/2014	6,659,000.00	VOLKSWAGEN FINANCE PRIVATE LIMITED	3RD FLOOR, WING - A, SILVER UTOPIA, CARDINAL GRACIOUS ROAD, CHAKALA, ANDHERI, MUMBAI, MAHARASHTRA - 400099, INDIA	C37819182
3	10529279	20/10/2014	188,800,000.00	UNION BANK OF INDIA LIMITED	IFB BRANCH, M-11, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA	C32371270
4	10551482	18/10/2014	2,021,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA	C44746097
5	10522015	30/08/2014	330,000.00	THE FEDERAL BANK LIMITED	FEDERAL TOWERSP B NO 103, ALWAYE, ERANAKULAM, KERALA - 683101, INDIA	C22414809
6	10522016	30/08/2014	330,000.00	THE FEDERAL BANK LIMITED	FEDERAL TOWERSP B NO 103, ALWAYE, ERANAKULAM, KERALA - 683101, INDIA	C22416275
7	10477847	10/02/2015 *	762,400,000.00	UNION BANK OF INDIA LIMITED	INDUSTRIAL FINANCE BRANCH, M-11, 1ST FLOOR, MIDDLE CIRCLE,CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA	C44936169
8	10295311	19/10/2011 *	411,900,000.00	UNION BANK OF INDIA	M- 11, 1ST FLOOR, MIDDLE CIRCLE, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA	B24892770
9	10266917	11/01/2011	195,000,000.00	THE FEDERAL BANK LIMITED	CORPORATE BANKING BRANCH, E-13-29, HARSHA BHAWAN, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B05185194
10	10224822	14/07/2012 *	2,218,700,000.00	UNION BANK OF INDIA	IFB BRANCH, M-11, IST FLOOR, MIDDLE CIRCLE, NEW DELHI, DELHI - 110001, INDIA	B45021409

* Date of charge modification

CHANGE OF ADDRESS

The registered office of the company has been shifted from B-207, Chittranjan Park, New Delhi – 110019, India to present address w.e.f. 06.10.2012

STATE OF COMPANIES AFFAIR

During the year, the total income of the Company increased to Rs. 1487.366 Millions in the year ending 31^st March 2014 compared to Rs. 612.029 Millions achieved in previous year. During the year the Company has incurred a Loss of Rs. 107.958 Millions as compared to loss of Rs. 24.754 Millions in previous year. The Company is making continuous efforts to improvise upon the deficiencies of past and economies in the operational cost by putting efficient cost control systems in process.

CONTINGENT LIABILITIES (AS ON 31.03.2014)

a) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of capital advances) amounts to Rs. 221.114 Millions (Previous year Rs. 14.307 Millions)

b) Claims against the Company not acknowledged as debts amounts to Rs. 22.314 Millions (Previous year Rs. 25.789 Millions). It involves the income tax matters which are subject to legal proceedings in the ordinary course of business. The legal proceedings, when ultimately concluded will not, in the opinion of the management, have a material effect on the results of the operations or financial position of the Company.

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

Intangible Assets

· Computer Software

· Licenses and Franchise

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.61.85
UK Pound	1	Rs.94.96
Euro	1	Rs.69.10

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	0
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		13

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.