MIRA INFORM REPORT

Report No. :	313147
Report Date :	17.03.2015

IDENTIFICATION DETAILS

Name :	VAMSHADHARA PAPER MILLS LIMITED
Registered Office :	Madapam Narasannapeta Mandal, Srikakulam – 532421, Telangana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	02.04.1980
Com. Reg. No.:	36-002664
Capital Investment / Paid-up Capital :	Rs.78.075 Million
CIN No.: [Company Identification No.]	U21012TG1980PLC002664
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACV7330B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Paper and Paper Made Products.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 701000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Management has failed “Form 20B” depicting annual return for FY 2014, whereas failed to file any other documents for the same year with the statutory authorities. Mr. Ravi Kumar, Deputy General Manager Finance denied to provide any information to us. As per available, trade relation seems to be fair. Business is active. Payment terms are reported to be unknown. In view of lack of updated latest financials, the company can be considered for business dealing with caution.

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

NOT AVAILABLE

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 DENIED BY

Name :	Mr. Ravi Kumar
Designation :	Deputy General Manager Finance
Contact No.:	91-9393437604
Date :	16.03.2014

LOCATIONS

Registered Office / Mills :	Madapam Narasannapeta Mandal, Srikakulam – 532421, Telangana, India
Tel. No.:	91-8942-232132/ 232139
Mobile No.:	91-9393437604 (Mr. Ravi Kumar)
Fax No.:	91-8942-232151
E-Mail :	vamshadharapaper@yahoo.com rajendransennar@yahoo.com vamshandhara@sennars.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Ramamurthy Rajendran

Designation :

Managing Director

Address :

Paper City, G. T. Road, Munasab Peta Village, Srikakulam - 532001, Telangana, India

Date of Birth/Age :

17.05.1950

Date of Appointment :

25.04.1984

DIN No.:

00450685

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	U21012TG1980PLC002664	VAMSHADARA PAPER MILLS LIMITED	Managing director	01/12/2010	25/04/1984	-	Active	NO
2	U21012AP1990PLC012039	VAMSHADHARA BOARDS AND PAPERS LIMITED	Director	27/11/1991	27/11/1991	20/01/2015	Active	NO
3	U65910AP1994PLC017220	VAMSHADHARA FINANCE COMPANY LIMITED	Director	31/03/1995	31/03/1995	-	Active	NO
4	U21012TN2002PLC048996	SENNAR PAPER AND BOARDS LIMITED	Director	27/05/2002	27/05/2002	-	Amalgamated	NO

Name :

Mr. Sennar Ramamurthy Rabindar

Designation :

Director

Address :

Paper City, G. T. Road, Munasab Peta Village, Srikakulam - 532001, Telangana, India

Date of Birth/Age :

23.04.1943

Date of Appointment :

02.04.1980

DIN No.:

00450841

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	U21012TG1980PLC002664	VAMSHADARA PAPER MILLS LIMITED	Director	30/09/2011	02/04/1980	-	Active	NO
2	U21012AP1990PLC012039	VAMSHADHARA BOARDS AND PAPERS LIMITED	Director	27/11/1991	27/11/1991	20/01/2015	Active	NO
3	U65910AP1994PLC017220	VAMSHADHARA FINANCE COMPANY LIMITED	Director	31/03/1994	31/03/1994	-	Active	NO
4	U21012TN2002PLC048996	SENNAR PAPER AND BOARDS LIMITED	Managing director	01/04/2007	27/05/2002	-	Amalgamated	NO
5	U37102TZ1998GAP008524	Tamil Nadu Electricity Consumers' Association	Director	16/09/2014	16/09/2014	-	Active	NO

Name :

Mr. Rajendran Koushik

Designation :

Whole-Time-Director

Address :

Paper City, G. T. Road, Munasab Peta Village, Srikakulam – 532001, Telangana, India

Date of Birth/Age :

20.07.1985

Date of Appointment :

31.03.2009

DIN No.:

00450931

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	U21012TG1993PTC015655	HANS PAPER AND PULP PRIVATE LIMITED	Director	31/07/2003	31/07/2003	-	Amalgamated	NO
2	U21012TG1980PLC002664	VAMSHADARA PAPER MILLS LIMITED	Whole-time director	01/12/2010	31/03/2009	-	Active	NO

Name :

Mr. Rabindar Vijayshekar

Designation :

Whole-Time-Director

Address :

Paper City, G. T. Road, Munasab Peta Village, Srikakulam – 532001, Telangana, India

Date of Birth/Age :

01.07.1967

Date of Appointment :

01.07.1993

DIN No.:

00833432

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	U21012TG1980PLC002664	VAMSHADARA PAPER MILLS LIMITED	Whole-time director	01/12/2010	01/07/1993	-	Active	NO
2	U65910AP1994PLC017220	VAMSHADHARA FINANCE COMPANY LIMITED	Director	30/06/1995	30/06/1995	-	Active	NO
3	U21012TG1993PTC015655	HANS PAPER AND PULP PRIVATE LIMITED	Managing director	19/05/2000	19/05/2000	-	Amalgamated	NO
4	U21012TN2002PLC048996	SENNAR PAPER AND BOARDS LIMITED	Director	26/06/2002	26/06/2002	-	Amalgamated	NO
5	U74900TN2008NPL067185	SOUTH INDIAN KRAFT PAPER MILLS ASSOCIATION	Director	30/09/2010	30/09/2010	-	Active	NO

Name :

Mr. Attaluri Durga Lakshmi Prasad

Designation :

Director

Address :

Chief Executive, Jeypore Sugars Limited, Chagallu, West Godavari - 534342, Telangana, India

Date of Birth/Age :

09.01.941

Date of Appointment :

26.03.1991

DIN No.:

02519431

Name :

Mr. Venugopala Rao Malampati

Designation :

Director

Address :

Plot No.1202, Road No.36, Jubli Hills, Hyderabad – 500038, Telangana, India

Date of Birth/Age :

20.12.1940

Date of Appointment :

26.03.1984

DIN No.:

00012704

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	U21012TG1980PLC002664	VAMSHADARA PAPER MILLS LIMITED	Director	30/09/2011	26/03/1984	-	Active	NO
2	L27101TG1972PLC001549	NAVA BHARAT VENTURES LIMITED	Director	08/08/2014	25/09/1997	-	Active	NO
3	U24220TG1986PLC006739	HITECH PRINT SYSTEMS LIMITED	Director	06/11/2000	06/11/2000	04/07/2007	Active	NO
4	U15511PY2000PLC001558	REGMA CERAMICS LIMITED	Director	11/09/2001	11/09/2001	22/09/2014	Active	NO
5	U70102AP2006PTC049314	V.V.V. INFRASTRUCTURE PRIVATE LIMITED	Director	28/02/2006	28/02/2006	-	Active	NO
6	L26914AP1983PLC004249	REGENCY CERAMICS LIMITED	Director	06/03/2007	06/03/2007	03/09/2014	Active	NO
7	U45200TG2005PTC048429	PATMAX INFRASTRUCTURE (INDIA) PRIVATE LIMITED	Managing director	20/12/2008	30/10/2008	-	Active	NO
8	U74999TG2008PLC058559	NAVA BHARAT SUGAR AND BIO FUELS LIMITED	Director	30/07/2009	23/01/2009	-	Active	NO
9	U40106TG2008PLC058560	NAVA BHARAT ENERGY INDIA LIMITED	Director	30/07/2009	23/01/2009	-	Active	NO
10	U40100TG1993PTC016204	KINNERA POWER COMPANY Private Limited	Director	30/07/2009	30/07/2009	25/04/2013	Active	NO
11	U40109TG1999PTC032289	BRAHMANI INFRATECH PRIVATE LIMITED	Director	01/08/2014	30/07/2009	-	Active	NO
12	U70102TG2007PLC052362	NAVA BHARAT PROJECTS LIMITED	Director	30/07/2014	26/05/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ravi Kumar
Designation :	Deputy General Manager Finance

MAJOR SHAREHOLDERS

As on 30.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	17.14
Directors or relatives of Directors	81.43
Other top fifty shareholders	1.43
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Paper and Paper Made Products.

Products :

Product Description	Item Code No. (ITC Code)
Kraft Paper	4804

Brand Names :

--

Agencies Held :

--

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS (As on 31.03.2011)

Class of goods manufactured: Kraft Paper, News Print

Year	Units	Installed Capacity	Actual Production
2010-2011 (Kraft)	MTS	42750	41029
2010-2011 (News Print)	MTS	19800	19182

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information denied by management

Bankers :

Andhra Bank, Main Branch, G.T. Road, Srikakulam – 532001, Telangana, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
LONG TERM BORROWINGS
Rupee term loans from banks	57.751	48.519
Rupee term loans from others	133.064	159.336
SHORT TERM BORROWINGS
Working capital loans from banks	141.469	160.378
Total	332.284	368.233

Auditors :
Name :	Venkatasrinivas and Company Chartered Accountants
Address :	D.No.9-29-19/A(1), Flat No.101, Level-1, "Waltair Heights", Balajinagar, Visakhapatnam – 500003, Andhra Pradesh, India
PAN No.:	AAHFV4986H
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
78615590	Equity Shares	Rs.10/- each	Rs.78.616 Million

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7807527	Equity Shares	Rs.10/- each	Rs.78.075 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	78.075	78.075
(b) Reserves & Surplus	165.761	131.846
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	1.675	1.675
Total Shareholders’ Funds (1) + (2)	245.511	211.596
(3) Non-Current Liabilities
(a) long-term borrowings	205.248	219.623
(b) Deferred tax liabilities (Net)	34.524	28.929
(c) Other long term liabilities	53.190	51.249
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	292.962	299.801
(4) Current Liabilities
(a) Short term borrowings	141.469	160.378
(b) Trade payables	232.967	252.342
(c) Other current liabilities	18.647	23.064
(d) Short-term provisions	8.538	8.800
Total Current Liabilities (4)	401.621	444.584
TOTAL	940.094	955.981
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	407.510	405.090
(ii) Intangible Assets	4.450	8.901
(iii) Capital work-in-progress	4.557	27.923
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	14.950	8.800
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	431.467	450.714
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	97.502	102.490
(c) Trade receivables	272.717	226.707
(d) Cash and cash equivalents	47.122	78.770
(e) Short-term loans and advances	91.286	97.300
(f) Other current assets	0.000	0.000
Total Current Assets	508.627	505.267
TOTAL	940.094	955.981

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		78.075
2] Share Application Money		1.675
3] Reserves & Surplus		93.656
4] (Accumulated Losses)		0.000
NETWORTH		173.406
LOAN FUNDS
1] Secured Loans		408.965
2] Unsecured Loans		59.208
TOTAL BORROWING		468.173
DEFERRED TAX LIABILITIES		24.118
TOTAL		665.697
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		390.996
Capital work-in-progress		34.411
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	94.863
	Sundry Debtors	205.796
	Cash & Bank Balances	24.997
	Other Current Assets	0.000
	Loans & Advances	79.137
Total Current Assets		404.793
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	142.863
	Other Current Liabilities	17.040
	Provisions	4.600
Total Current Liabilities		164.503
Net Current Assets		240.290
MISCELLANEOUS EXPENSES		0.000
TOTAL		665.697

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1,510.177	1,578.314	1,321.653
		Other Income	12.518	17.682	15.311
		TOTAL (A)	1,522.695	1,595.996	1,336.964
Less	EXPENSES
		Cost of Materials Consumed	921.406	1,062.797
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(6.965)	(6.786)
		Employee Benefits Expenses	63.017	59.389
		Other Expenses	384.160	331.535
		TOTAL (B)	1,361.618	1,446.935	1,222.153
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		161.077	149.061	114.811
Less	FINANCIAL EXPENSES (D)		54.901	55.560	45.279
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		106.176	93.501	69.532
Less	DEPRECIATION/ AMORTISATION (F)		56.166	50.500	47.108
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		50.010	43.001	22.424
Less	TAX (H)		16.095	13.610	7.351
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		33.915	29.391	15.073
	Earnings / (Loss) Per Share (Rs.)		4.34	3.76	1.93

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	2.25	1.86	1.14
Operating Profit Margin (PBDIT/Sales)	(%)	10.67	9.44	8.69
Return on Total Assets (PBT/Total Assets}	(%)	5.35	4.63	2.82
Return on Investment (ROI) (PBT/Networth)		0.20	0.20	0.13
Debt Equity Ratio (Total Debt /Networth)		1.41	1.80	2.70
Current Ratio (Current Asset/Current Liability)		1.27	1.14	2.46

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	78.075	78.075	78.075
Reserves & Surplus	93.656	131.846	165.761
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	1.675	1.675	1.675
Net worth	173.406	211.596	245.511
Total borrowings	468.173	380.001	346.717
Debt/Equity ratio	2.700	1.796	1.412

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	1,321.653	1,578.314	1,510.177
		19.420	(4.317)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	1,321.653	1,578.314	1,510.177
Profit	15.073	29.391	33.915
	1.14%	1.86%	2.25%

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	Yes
10]	Designation of contact person	Yes
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	No
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	No
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
LONG TERM BORROWINGS
Deposits from shareholders	0.554	0.385
Public deposits	10.286	7.639
Deposits from others	3.593	3.744
Total	14.433	11.768

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10457254	24/10/2013	30,000,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	B88329255
2	10443124	24/07/2013	622,000.00	SREI EQUIPMENT FINANCE PRIVATE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA	B82179599
3	10410781	27/01/2013	155,000,000.00	ANDHRA BANK	MAIN BRANCH, GT ROAD, SRIKAKULAM, ANDHRA PRADESH  - 532001, INDIA	B70431903
4	10334069	23/01/2012	25,000,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE,, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	B31478134
5	10273720	23/03/2011	28,800,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE,, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	B08669350
6	10239971	21/09/2010	15,000,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAGA ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	A94780517
7	10196118	01/12/2009	15,000,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	A77116796
8	10148220	12/12/2008	3,300,000.00	ANDHRA BANK	48/39, WAVOO MANSION, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA	A55148084
9	10113939	03/05/2008	7,500,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	A40113870
10	10098233	12/04/2008	38,000,000.00	ANDHRA BANK	MAIN BRANCH, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	A36364495
11	10089627	07/11/2007	16,000,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE, POST BOX NO 165, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	A31960107
12	10073659	08/10/2007	36,800,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE, P.B.NO165, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	A25439043
13	10073664	08/10/2007	36,800,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE, P.B.NO.165, HYDERABAD,  ANDHRA PRADESH - 500001, INDIA	A25439563
14	10042674	26/03/2007	12,500,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	D.NO.6-1-99/T BOYAWADA, RAMAGIRI AREA, NALGONDA,  ANDHRA PRADESH - 508001, INDIA	A12660668
15	10034316	19/12/2006	133,500,000.00	THE ANDHRA PRADESH STATE FINANCIAL CORPORATION	2-20-13, RELLA STREET, BEHIND FOREST OFFICE, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	A09737461
16	10013595	28/07/2006	133,500,000.00	ANDHRA PRADESH STATE FINANCIAL CORPORATION	5-9-194, CHIRAG ALI LANE, POST BOX NO.165, HYDERA BAD, ANDHRA PRADESH - 500001, INDIA	A03314580
17	10013602	23/04/2014 *	257,500,000.00	ANDHRA BANK	MAIN BRANCH, GT ROAD, SRIKAKULAM, ANDHRA PRADESH  - 532001, INDIA	C03688264
18	90290975	01/12/2005	14,039,000.00	ANDHRA BANK	CHENNAI, CHENNAI, TAMIL NADU, INDIA	-
19	90302931	24/11/2004	1,014,000.00	M/S ICICI BANK LTD.	NO-1 CENETOPH ROAD, TEYNAMPET, CHENNAI, TAMIL NADU - 600018, INDIA	-
21	90286106	31/12/2003	1,200,000.00	ANDHRA BANK	MAIN BRANCH, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA	-
22	90136871	08/12/2003	2,695,000.00	A.P. STATE FINANCIAL CORPN.	HYDERABAD, HYDERABAD, ANDHRA PRADESH, INDIA	-
23	90290355	01/12/2005 *	9,328,000.00	ANDHRA BANK	CHENNAI, CHENNAI, TAMIL NADU - 600001, INDIA	-
24	90286088	10/04/2007 *	22,328,000.00	ANDHRA BANK	48/39 WAVOO MANSION, RAJAJI SALAI, CHENNAI, TAMILNADU - 600001, INDIA	-
25	90286060	10/08/2009 *	242,100,000.00	ANDHRA BANK	48/39, WAVOO MANSION, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA	A80439367
26	90136846	29/01/2002	5,050,000.00	A.P. STATE FINANCIAL CORPN.	HYDERABAD, HYDERABAD, ANDHRA PRADESH, INDIA	-
27	90121578	21/06/2004 *	3,000,000.00	ANDHRA BANK	NACHARAM BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA	-
28	90139306	23/04/2014 *	255,000,000.00	ANDHRA BANK	MAIN BRANCH, GT ROAD, SRIKAKULAM, ANDHRA PRADESH  - 532001, INDIA	C03689270
29	90136829	08/12/2000	5,000,000.00	A.P. STATE FINANCIAL CORPN.	HYDERABAD, HYDERABAD, ANDHRA PRADESH, INDIA	-
30	90138194	06/03/2000	18,000,000.00	ANDHRA PRADESH FINANCIAL CORPN.	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA	-
31	90140154	06/03/2000	10,950,000.00	ANDHRA PRADESH FINANCIAL CORPN.	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA	-
32	90139200	07/04/1999	11,500,000.00	ANDHRA BANK	MAIN BRANCH, SRIKAKURAM, ANDHRA PRADESH - 532001, INDIA	-
33	90122760	07/03/2000 *	3,000,000.00	ANDHRA BANK	AMEERPET BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA	-
34	90121246	19/10/1998	1,700,000.00	VIJAYA BANK LTD.	HARDIKARBAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
35	90136797	28/03/1998	5,000,000.00	ANDHRA PRADESH FINANCIAL CORPN.	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA	-
36	90136786	31/03/1997	1,500,000.00	ANDHRA PRADESH INDUSTRIAL DEVELOPMNET CORPN. LTD.	PARISRAMA BHAVANAM FATHE MAIDAN ROAD, HYDERABAD, ANDHRA PRADESH - 500029, INDIA	-
37	90123879	27/09/1996	800,000.00	VIJAYA BANK LTD.	HARDIKARBAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
38	90139038	30/05/1996 *	13,500,000.00	ANDHRA BANK	MAIN BRANCH, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	-
39	90139972	05/09/1995	353,000.00	THE KANRUR VISYA BANK LTD.	SIVAJIPALAM, VISHAKAPATNAM, ANDHRA PRADESH, INDIA	-
40	90120849	13/05/1995	1,630,000.00	A.P. STATE FINANCE CORPN.	5-9-19- CHIRAG ALI LANE ABIDS, HYDERABAD, ANDHRA PRADESH, INDIA	-
41	90137708	01/03/1995	14,895,000.00	A.P. STATE FINANCIAL CORPN.	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	-
42	90137657	08/09/1997 *	10,650,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDAI	CHAPEL ROAD, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	-
43	90120725	01/07/1994	5,970,000.00	ANDHRA PRADESH STATE FINANCIAL CORPN.	AMEERPET BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA	-
44	90138807	25/05/2005 *	12,000,000.00	ANDHRA BANK	SRIKAKULAM MAIN BRANCH G.T. ROAD, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	-
45	90138756	14/05/1992	11,500,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA	HYDERABAD, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	-
46	90137136	24/12/1987	1,570,000.00	ANDHRA PRADESH STATE FINANCIAL CORPN.	CHIREG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	-
47	90137012	10/10/1983	900,000.00	STATE BANK OF INDIA	C & I DIVISION BANK STREET, HYDERABAD, ANDHRA PRA  DESH - 500170, INDIA	-
48	90138578	27/09/1983	900,000.00	ANDHRA BANK	SRIKAKULAM BRNACH G.T. ROAD, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	-
49	90138575	25/05/2005 *	1,500,000.00	ANDHRA BANK	SRIKAKULAM MAIN BRANCH G.T. ROAD, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	-
50	90139588	03/02/2004 *	1,500,000.00	ANDHRA BANK	SRIKAKULAM BRANCH, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	-
51	90136992	11/08/1982	500,000.00	ANDHRA PRADESH INDUSTRIAL DEVELOPMENT	RATEH MAIDAN ROAD P. BOX NO 1049, HYDERABAD, ANDHRA PRADESH - 500029, INDIA	-
52	90136977	16/11/1981	6,000,000.00	ANDHRA PRADESH INDUSTRIAL DEVEL.CORPN.	BASBEERBAGH, HYDERABAD, ANDHRA PRADESH, INDIA	-
53	90136973	18/09/1981	3,000,000.00	ANDHRA PRADESH STATE FINANCIAL CORPN.	CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA	-
54	90136972	15/09/1981	1,000,000.00	ANDHRA BANK	SRIKAKULAM MAIN BRANCH G.T. ROAD, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.82
UK Pound	1	Rs.92.83
Euro	1	Rs.66.17

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUB
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		34

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.