MIRA INFORM REPORT

Report No. :	321294
Report Date :	11.05.2015

IDENTIFICATION DETAILS

Name :	SRIAM LABS PRIVATE LIMITED (w.e.f. 29.03.2012)
Formerly Known As :	SAI RAM ORGANICS PRIVATE LIMITED
Registered Office :	3^rd Floor, SDE Serena Chambers, Avenue 7, Road No. 5, Banjara Hills, Hyderabad – 500034, Telangana
Tel. No. :	91-40-23558651
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.02.2002
Com. Reg. No.:	01-038490
Capital Investment / Paid-up Capital :	Rs. 103.685 Million
CIN No.: [Company Identification No.]	U24239TG2002PTC038490
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCP0811A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of High Quality Bulk Drugs and Pharmaceutical Intermediates.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 415000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. A reserves of the company is low. However, the company has reported decent operational performance with sound profitability margins at 1.37% supported by its healthy operational profile and adequate capital base of the company. Rating also takes into consideration its established track record of business operations and extensive industry experience of the promoters. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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	CARE
Rating	Long-term bank facilities: “BB+”
Rating Explanation	Inadequate credit quality and high credit risk.
Date	29.01.2015

Rating Agency Name	CARE
Rating	Short term bank facilities: “A4+”
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	29.01.2015

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.: 91-40-23558651)

LOCATIONS

Registered/ Corporate Office :	3^rd Floor, SDE Serena Chambers, Avenue 7, Road No. 5, Banjara Hills, Hyderabad – 500034, Telangana, India
Tel. No. :	91-40-23558651/ 52/ 53
Fax No. :	91-40-23558650
E-Mail :	satyanarayana.l@sriam.com
Website :	http://www.sriam.com
Factory :	Survey No. 505, Padamati Somaram Road, Bibinagar Village and Mandal, Nalgonda - 508126, Andhra Pradesh, India
Fax No.:	91-8685-278000

DIRECTORS

As on 30.09.2014

Name :

Mrs. Anuradha Jampana

Designation :

Director

Address :

H.No: 8-3-191/48/68, Street-44a,64-A, Vengalarao Nagar, Hyderabad - 500016, Andhra Pradesh, India

Date of Birth/Age :

06.05.1968

Date of Appointment :

22.08.2003

DIN No. :

00860062

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	U24239TG2003PTC041024	LIFECARE LABORATORIES PRIVATE LIMITED	Director	21-05-2003	21-05-2003	Active	NO
2	U24239TG2002PTC038490	SRIAM LABS PRIVATE LIMITED	Director	22-08-2003	22-08-2003	Active	NO

Name :

Mr. Gorantla Seeta Ram Anjaneyulu

Designation :

Director

Address :

1-6-141/18-A, Bye Pass Road, Suryapet, Nalgonda - 508213, Andhra Pradesh, India

Date of Birth/Age :

04.06.1961

Date of Appointment :

25.07.2014

DIN No. :

01874325

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	U65910TG1997PTC026334	TALLI GODAVARI FINE CHEMICALS PRIVATE LIMITED	Director	23-08-2008	23-08-2008	04-11-2013	Active	NO
2	U24239TG2002PTC038490	SRIAM LABS PRIVATE LIMITED	Director	25-07-2014	25-07-2014	-	Active	NO

Name :

Dr. Chereddi Ramachandra Naidu

Designation :

Managing director

Address :

Plot No. - 63, Prashasan Nagar, Road No. - 72, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India

Date of Birth/Age :

01.02.1950

Date of Appointment :

27.04.2011

PAN No. :

ABJPC6488N

DIN No. :

02096757

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	U72900TG2006FTC051133	INFOSTEP INDIA PRIVATE LIMITED	Additional director	03-04-2008	03-04-2008	14-01-2009	Active	NO
2	U31909TG2008PTC060305	SUNLED TECHNOLOGIES PRIVATE LIMITED	Director	03-11-2008	03-11-2008	07-12-2010	Active	NO
3	U80900DL2010PTC200569	CAP WORKFORCE DEVELOPMENT INSTITUTE PRIVATE LIMITED	Director	22-03-2010	22-03-2010	-	Active	NO
4	U45209TG2010PTC068720	C R ECO VENTURES PRIVATE LIMITED	Director	02-06-2010	02-06-2010	-	Active	NO
5	U45200TG1985PLC005445	S.V.E.C. CONSTRUCTIONS LIMITED	Director	30-08-2010	14-07-2010	25-09-2012	Active	NO
6	U24239TG2002PTC038490	SRIAM LABS PRIVATE LIMITED	Managing director	27-04-2011	17-10-2010	-	Active	NO
7	U24297TG2012PTC081305	SRIAM LIFE SCIENCES PRIVATE LIMITED	Director	05-06-2012	05-06-2012	-	Active	NO

Name :

Mr. Harikiran Chereddi

Designation :

Whole-time director

Address :

Plot No: 63, Prashasan Nagar, Road No. 72, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India

Date of Birth/Age :

19.05.1980

Date of Appointment :

01.08.2012

DIN No. :

02261294

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	U31909TG2008PTC060305	SUNLED TECHNOLOGIES PRIVATE LIMITED	Director	26-07-2008	26-07-2008	-	Active	NO
2	U40102TG2008PLC060401	SUJANA ENERGY LIMITED	Managing director	01-10-2009	01-06-2009	31-07-2012	Active	NO
3	U24239TG2002PTC038490	SRIAM LABS PRIVATE LIMITED	Whole-time director	01-08-2012	17-10-2010	-	Active	NO
4	U40101TN1997PLC038951	SUJANA POWER (TUTICORIN) LIMITED	Additional director	02-11-2011	02-11-2011	20-07-2013	Active	NO
5	U40101TN1997PLC038950	SUJANA POWER (GANGIKONDAN) LIMITED	Additional director	02-11-2011	02-11-2011	20-07-2013	Active	NO
6	U40103TN2012PTC084033	SUJANA SOLAR POWER PRIVATE LIMITED	Director	17-01-2012	17-01-2012	20-07-2013	Active	NO
7	U31401TG2012PTC082273	HERALD INDUSTRIES PRIVATE LIMITED	Director	01-08-2012	01-08-2012	-	Active	NO

Name :

Mrs. Venkatasurya Sasikala Chereddi

Designation :

Director

Address :

Plot No. 63, Prashasan Nagar, Road No. 72, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India

Date of Birth/Age :

06.12.1960

Date of Appointment :

17.10.2010

DIN No. :

03021516

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	U45209TG2010PTC068720	C R ECO VENTURES PRIVATE LIMITED	Director	02-06-2010	02-06-2010	Active	NO
2	U24239TG2002PTC038490	SRIAM LABS PRIVATE LIMITED	Director	17-10-2010	17-10-2010	Active	NO
3	U24297TG2012PTC081305	SRIAM LIFE SCIENCES PRIVATE LIMITED	Director	05-06-2012	05-06-2012	Active	NO

Name :

Dr. Uma Maheswar Rao Vasireddi

Designation :

Whole-time director

Address :

No. 45, Park Viewenclave,Hasmathpet Road, Manovikas Nagar, Secunderabad - 500009, Andhra Pradesh, India

Date of Birth/Age :

15.03.1961

Date of Appointment :

27.04.2011

PAN No. :

AANPV3407H

DIN No. :

03506390

Name :

Mr. Suryadevara Srinivasa Rao

Designation :

Director

Address :

A-301, Defence Officers Colony Rs, Vuda Park, 6-24-4/39, Visakhapatnam - 530017, Andhra Pradesh, India

Date of Birth/Age :

03.06.1968

Date of Appointment :

25.07.2014

DIN No. :

06885360

Name :

Mr. Chunduru Venkata Lakshmana Rao

Designation :

Director

Address :

Villa No.194, Sa Palm Meadows, Kompally, Hyderabad - 500014, Andhra Pradesh, India

Date of Birth/Age :

01.08.1962

Date of Appointment :

25.07.2014

DIN No. :

06885453

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Chereddi Ramachandra Naidu	4576590
Venkatasurya Sasikala Chereddi	956200
Harikiran Chereddi	320000
C. Suma	318455
CR Eco Ventures Private Limited, India	674700
J.S. Varma	340000
Anuradha Jampana	317350
J. Akhil Varma	383900
J. Anisha Varma	381260
Uma Maheswar Rao Vasireddi	2000000
Sujatha	100000
Laurus Labs Private Limited	3834908
Total	14203363

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	31.75
Directors or relatives of Directors	68.25
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of High Quality Bulk Drugs and Pharmaceutical Intermediates.
Products :	· Biperidine Hydrochloride · Biperidine Base · Flavoxate Hydrochloride · Famciclovir · Labetalol Hydrochloride · Memantine Hydrochloride · Moxifloxacin Hydrochloride · Trimipramine
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 Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks	97.710	38.220
Loans taken for vehicles	0.052	0.366
SHORT TERM BORROWINGS
Rupee term loans from banks	120.907	104.065
Total	218.669	142.651

NOTE:

LONG TERM BORROWINGS

Nature of security

"Primary Security: 1) Primary security for: I) Term loan of Rs. 58.800 Million - Civil Works value of Rs. 14.100 Million and Hypothecation of Plant and Machinery Rs. 66.600 Million II) Term Loan of Rs. 56.000 Million - Civil Works value of Rs. 4.400 Million 2) Hypothecation reactors , solvent recovery colums, other equipment, piping, electricals, safety equipment etc. worth Rs. 72.000 Million. III) Term loan of Rs. 282.300 Million - EMD of Land and Civil works of value Rs. 191.100 Million and Hypothecation of proposed plant and Machinery Rs.19.70 Collateral Security: 1) Factory Premises worth of Rs.25.300 Million, 2) WDV of Plant and Machinery worth of Rs. 7.400 Million, 3) Building belonging to Chereddi Suma worth of Rs.20.500 Million 4) House belonging to CVS Sasikala worth of Rs.4.500 Million 5) Residential Property of J.S.Varma and J. Anuradha worth of Rs.14.000 Million and Lien on KTD Rs.1.000 Million. "

SHORT TERM BORROWINGS

Nature of security

"Primary Security: OCC:- Hypothecation of Stock of raw material, WIP, Consumables and Finished goods, Receivables and all other Chareable current assets(First charge basis ). PC/PCFC:- Hypothecation of Stocks of raw material, WIP,and Finished goods meant for export and Duty draw back (First charge basis ). FBP/FUBD: Export Receivables/ Export bills tendered for negotiation backed by confirmed orders. Collateral Security: 1) Factory Premises worth of Rs.25.300 Million, 2) WDV of Plant and Machinery Rs.7.400 Million 3)Building belonging to Chereddi Suma worth of Rs 20.500 Million 4) House belonging to CVS Sasikala worth of Rs.4.500 Million 6) Residential property belonging to J. S. Varma and J. Anuradha worth of Rs.14.000 Million and Lien on KTD Rs. 1.000 Million."

Banking Relations :	--
Auditors :
Name :	Ramasamy Koteswara Rao ánd Company Chartered Accountants
Address :	Plot No. 238/A, MLAs Colony Road No. 12, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AAGFR9006F
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
14,500,000	Equity Shares	Rs.10/- each	Rs. 145.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14,203,363	Equity Shares	Rs.10/- each	Rs. 142.034 Million

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
14,500,000	Equity Shares	Rs.10/- each	Rs. 145.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,368,455	Equity Shares	Rs.10/- each	Rs. 103.685 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	103.685	65.185	65.185
(b) Reserves & Surplus	41.557	35.811	16.877
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	23.400	5.000
Total Shareholders’ Funds (1) + (2)	145.242	124.396	87.062
(3) Non-Current Liabilities
(a) long-term borrowings	97.762	38.586	66.173
(b) Deferred tax liabilities (Net)	0.000	5.506	2.866
(c) Other long term liabilities	99.809	16.331	7.054
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	197.571	60.423	76.093
(4) Current Liabilities
(a) Short term borrowings	120.907	104.065	76.047
(b) Trade payables	173.278	50.588	27.934
(c) Other current liabilities	23.136	13.804	0.000
(d) Short-term provisions	9.338	11.230	5.472
Total Current Liabilities (4)	326.659	179.687	109.453
TOTAL	669.472	364.506	272.608
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	232.176	141.630	93.957
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	8.657	0.000	5.282
(iv) Intangible assets under development	24.436	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.184	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	46.704	0.000	0.000
Total Non-Current Assets	312.157	141.630	99.239
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	55.562	89.640	75.664
(c) Trade receivables	125.473	86.825	67.888
(d) Cash and cash equivalents	58.147	11.710	9.357
(e) Short-term loans and advances	48.241	34.701	20.460
(f) Other current assets	69.892	0.000	0.000
Total Current Assets	357.315	222.876	173.369
TOTAL	669.472	364.506	272.608

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	419.065	399.691	262.191
Less	EXPENSES		406.829	365.470	247.900
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		12.236	34.221	14.291
Less/ Add	DEPRECIATION/ AMORTISATION		12.033	10.161	7.629
	PROFIT/ (LOSS) BEFORE TAX		0.203	24.060	6.662
Less	TAX		(5.543)	5.126	2.827
	PROFIT/ (LOSS) AFTER TAX		5.746	18.934	3.835
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		35.811	16.877	13.655
Less	APPROPRIATIONS		0.000	0.000	0.613
	BALANCE CARRIED TO THE B/S		41.557	35.811	16.877
	EARNINGS IN FOREIGN CURRENCY
		Sales	97.963	70.280	128.751
	TOTAL EARNINGS		97.963	70.280	128.751
	IMPORTS
		Raw Materials	61.008	84.944	44.628
	TOTAL IMPORTS		61.008	84.944	44.628
	Earnings / (Loss) Per Share (Rs.)		0.59	2.90	0.91

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.03	6.60	2.49
Return on Investment (ROI) (PBT/Networth)		0.00	0.19	0.08
Debt Equity Ratio (Total Debt/Networth)		1.51	1.15	1.63
Current Ratio (Current Asset/Current Liability)		1.09	1.24	1.58

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	65.185	65.185	103.685
Reserves & Surplus	16.877	35.811	41.557
Share Application money pending allotment	5	23.4	0.000
Net worth	87.062	124.396	145.242
long-term borrowings	66.173	38.586	97.762
Short term borrowings	76.047	104.065	120.907
Total borrowings	142.220	142.651	218.669
Debt/Equity ratio	1.634	1.147	1.506

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	262.191	399.691	419.065
		52.443	4.847

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	262.191	399.691	419.065
Profit	3.835	18.934	5.746
	1.46%	4.74%	1.37%

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	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	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	10548656	21/01/2015	670,000.00	ANDHRA BANK	SME NACHARAM, NACHARAM MAIN ROAD, HYDERABAD, TELANGANA - 500076, INDIA	C43333665
2	10510075	18/06/2014	60,000,000.00	ANDHRA BANK	SME NACHARAM BRANCH, NACHARAM MAIN ROAD, HYDERABAD, TELANGANA - 500076, INDIA	C12097192
3	10402446	28/01/2013	56,000,000.00	ANDHRA BANK	SME NACHARAM BRANCH, NACHARAM MAIN ROAD, HYDERABAD, ANDHRA PRADESH - 500076, INDIA	B67901421
4	10338554	14/02/2012	58,800,000.00	ANDHRA BANK	SME NACHARAM BRANCH, MAIN ROAD, HYDERABAD, ANDHRA PRADESH - 500076, INDIA	B33423633
5	10308211	12/12/2013 *	467,300,000.00	ANDHRA BANK	SME NACHARAM BRANCH, NACHARAM, HYDERABAD, ANDHRA PRADESH - 500076, INDIA	B92751890

* Date of charge modification

CHANGE OF ADDRESS

The registered office of the company has been shifted from 102, Doyen Chambers, Behind Saradhi Studios, Yousufguda, Hyderabad – 500073, Andhra Pradesh, India to the present address w.e.f. 20.08.2011.

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
Guarantees issued on behalf of Company by Banks	1.100	1.700
Letters of Credit issued on behalf of Company by Banks	57.262	9.427

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· 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. 64.05
UK Pound	1	Rs. 99.04
Euro	1	Rs. 71.76

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	KAR
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	3
--CREDIT LINES	1~10	5
--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		43

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.