MIRA INFORM REPORT

Report No. :	323285
Report Date :	21.05.2015

IDENTIFICATION DETAILS

Name :		ASHOKA BUILDCON LIMITED
Registered Office :		S. No. 861, Ashoka House, Ashika Marg, Vadala, Nashik – 422011, Maharashtra
Tel. No.:	91-253-3011705
Country :		India
Financials (as on) :		31.03.2015
Date of Incorporation :		13.05.1993
Com. Reg. No.:		11-071970
Capital Investment / Paid-up Capital :		Rs. 793.133 Million
CIN No.: [Company Identification No.]		L45200MH1993PLC071970
IEC No.:		Not Available
TAN No.: [Tax Deduction & Collection Account No.]		Not Available
PAN No.: [Permanent Account No.]		Not Available
Legal Form :		A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :		Subject is engaged in developing and building infrastructure facilities on design, build, finance, operate, and transfer basis in highways; and engineering, procurement, and construction (EPC) basis in highways and the power sector.
No. of Employees :		1259 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (65)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is an established company having fine track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual trade terms and condition.

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	CRISIL
Rating	Long Term Rating = AA-
Rating Explanation	Have high degree of safety and carry very low credit risk.
Date	April 28, 2015

Rating Agency Name	CRISIL
Rating	Short Term Rating = A1+
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	April 28, 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 co-operative (91-253-3011705)

LOCATIONS

Registered Office / Corporate Office:	S. No. 861, Ashoka House, Ashika Marg, Vadala, Nashik – 422 011, Maharashtra, India
Tel. No.:	91-253-3011705
Fax No.:	91-253-2422704
E-Mail :	corporate@ashokabuildcon.com secretarial@ashokabuildcon.com
Website :	http://www.ashokabuildcon.com
Branch Office :	Located at · Pune · Mumbai · Delhi and NCR · Nagpur · Indore

DIRECTORS

As on 31.03.2014

Name :

Mr. Ashok M. Katariya

Designation :

Chairman

Date of Birth/Age :

20.07.1949

Qualification :

B. E. – Civil

Name :

Mr. Satish D. Parakh

Designation :

Managing Director

Date of Birth/Age :

24.10.1958

Qualification :

B. E. – Civil

Name :

Mr. Sanjay P. Londhe

Designation :

Whole-Time Director

Date of Birth/Age :

27.04.1964

Qualification :

B. E. – Civil, B. E. – F. I. E.

Name :

Mr. Milapraj Bhansali

Designation :

Whole Time Director

Date of Birth/Age :

18.12.1951

Qualification :

Chartered Accountant

Date of Appointment:

07.02.2014

DIN No.:

00181897

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	U65921DL1993PLC053622	MRB CREDIT AND LEASING LIMITED	Director	17-06-1993	17-06-1993	-	Active	NO
2	U72100MH2004PTC149543	BATUNI TECHNOLOGIES PRIVATE LIMITED	Director	16-11-2004	16-11-2004	26-11-2014	Converted to LLP	NO
3	U01119WB1998PLC087244	KAMLAPUR SUGAR & INDUSTRIES LIMITED	Director	16-09-2006	16-09-2006	18-12-2006	Under liquidation	NO
4	L45200MH1993PLC071970	ASHOKA BUILDCON LIMITED	Whole-time director	07-02-2014	31-05-2007	-	Active	NO
5	U92199MH1995PLC084948	MONOTONA TYRES LIMITED	Additional director	26-11-2007	26-11-2007	18-01-2008	Active	NO
6	U45203GJ2008PTC076596	HUBTOWN BUS TERMINAL (SURAT) PRIVATE LIMITED	Additional director	11-07-2008	11-07-2008	05-10-2009	Active	NO
7	U45203GJ2008PTC069636	HUBTOWN BUS TERMINAL (ADAJAN) PRIVATE LIMITED	Additional director	11-07-2008	11-07-2008	05-10-2009	Active	NO
8	U45203GJ2008PTC069640	HUBTOWN BUS TERMINAL (VADODARA) PRIVATE LIMITED	Additional director	11-07-2008	11-07-2008	05-10-2009	Active	NO
9	U45400GJ2008PTC069638	HUBTOWN BUS TERMINAL (MEHSANA) PRIVATE LIMITED	Additional director	11-07-2008	11-07-2008	05-10-2009	Active	NO
10	U70102GJ2007PLC050966	GUJARAT AKRUTI - TCG BIOTECH LIMITED	Director	26-08-2009	26-09-2008	21-09-2010	Active	NO
11	U51221KA2006PTC038641	INVENTURE TRADING (BANGALORE) PRIVATE LIMITED	Additional director	25-03-2009	25-03-2009	15-04-2009	Strike off	NO
12	U93090MH2009PTC197139	BVU MEDIA Private Limited	Director	19-11-2009	19-11-2009	25-08-2010	Active	NO
13	U45200MH2001PLC171661	VIVA HIGHWAYS LIMITED	Nominee director	20-12-2012	15-12-2010	28-04-2014	Active	NO
14	U45201MH2011PLC215760	ASHOKA CONCESSIONS LIMITED	Nominee director	04-06-2012	04-06-2012	30-04-2014	Active	NO
15	U45200MH2001PLC132489	ASHOKA INFRAWAYS LIMITED	Director	16-08-2014	01-11-2013	-	Active	NO

Name :

Mr. Michael Pinto

Designation :

Director

Date of Birth/Age :

27.05.1943

Qualification :

Master in Public Administration

Date of Appointment:

26.08.2014

DIN No.:

00021565

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	L21011WB1936PLC008726	STAR PAPER MILLS LTD.	Director	27-09-2014	15-04-2004	-	Active	NO
2	L74899MH1994PLC164024	GATEWAY DISTRIPARKS LTD.	Director	29-09-2014	16-06-2004	-	Active	NO
3	U65990MH1987PLC044571	INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED	Director	22-09-2014	07-07-2004	-	Active	NO
4	U63090KL2006PLC019751	GATEWAY DISTRIPARKS (KERALA) LIMITED	Director	28-08-2006	28-08-2006	14-08-2014	Active	NO
5	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Director	27-09-2007	25-04-2007	17-11-2011	Active	NO
6	L45200MH1993PLC071970	ASHOKA BUILDCON LIMITED	Director	26-08-2014	31-05-2007	-	Active	NO
7	U63000TN2007PTC064278	RAFFLES PORTWORKS PRIVATE LIMITED	Director	30-10-2008	01-10-2007	22-12-2010	Active	NO
8	U61100MH1974PLC017161	TOLANI SHIPPING COMPANY LIMITED	Director	17-07-2009	14-11-2008	-	Active	NO
9	U61100MH2006PLC163149	SHAPOORJI PALLONJI FORBES SHIPPING LIMITED	Director	27-08-2014	18-11-2008	-	Active	NO
10	L35110GJ1997PLC033193	PIPAVAV DEFENCE AND OFFSHORE ENGINEERING COMPANY LIMITED	Director	11-08-2009	18-07-2009	30-04-2010	Active	NO
11	U63020TN2000PLC061232	GOODEARTH MARITIME LIMITED	Director	29-09-2011	18-05-2011	05-12-2012	Active	NO
12	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	14-06-2011	14-06-2011	06-06-2013	Active	NO
13	U67110MH2000PTC129483	PRINCIPAL TRUSTEE COMPANY PRIVATE LIMITED	Director	21-09-2012	11-11-2011	-	Active	NO
14	U15122KA1993PLC048636	SNOWMAN LOGISTICS LIMITED	Director	26-09-2013	08-05-2013	-	Active	NO
15	L85110GJ1975PLC054824	ESSAR PORTS LIMITED	Director	26-09-2013	18-07-2013	-	Active	NO
16	L61200GJ2010PLC060285	ESSAR SHIPPING LIMITED.	Director	26-09-2014	07-08-2013	03-04-2015	Active	NO
17	U45201TG1993PLC057762	DHARTI DREDGING AND INFRASTRUCTURE LIMITED	Additional director	05-02-2015	05-02-2015	-	Active	NO

Name :

Mr. Sharadchandra Abhyankar

Designation :

Director

Date of Birth/Age :

09.10.1965

Qualification :

B.A./ LL.M and Solicitor

Date of Appointment:

26.08.2014

DIN No.:

00108866

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	U65991MH1992PLC069414	BARODA PIONEER ASSET MANAGEMENT COMPANY LIMITED	Director	31-07-1996	31-07-1996	10-10-2007	Active	NO
2	U72900MH2001GAP133190	OPTIMUM BUSINESS SOLUTIONS LIMITED	Director	29-08-2001	29-08-2001	-	Strike off	NO
3	U24239MH1948PLC006626	SHREE DHOOTAPAPESHWAR LIMITED	Director	24-08-2004	24-08-2004	-	Active	NO
4	U24100MH1985PLC037350	VISEN INDUSTRIES LIMITED	Director	04-07-2005	04-07-2005	02-08-2013	Active	NO
5	L45200MH1993PLC071970	ASHOKA BUILDCON LIMITED	Director	26-08-2014	03-10-2007	-	Active	NO
6	U74999MH2007PTC176737	TATA COMMUNICATIONS DATA CENTERS PRIVATE LIMITED	Director	13-12-2007	13-12-2007	27-11-2009	Active	NO
7	U74140DL2004PTC125077	ASSOCIATED VAT RECOVERY CONSULTANTS PRIVATE LIMITED	Director	30-09-2008	21-01-2008	15-03-2010	Active	NO
8	U93090MH2008PTC188053	VATIT CONSULTANTS PRIVATE LIMITED	Director	11-06-2009	19-11-2008	-	Active	NO
9	L67190MH1993PLC113638	ABM KNOWLEDGEWARE LIMITED	Director	18-09-2014	28-10-2010	-	Active	NO
10	U65191MH2012PLC226314	IL&FS CAPITAL ADVISORS LIMITED	Additional director	31-03-2015	31-03-2015	-	Active	NO
11	U45201MH2011PLC215760	ASHOKA CONCESSIONS LIMITED	Additional director	31-03-2015	31-03-2015	-	Active	NO
12	U74999MH2015PTC264155	FINE ART BOURSE INDIA PRIVATE LIMITED	Director	08-05-2015	08-05-2015	-	Active	NO

Name :

Mr. Albert Tauro

Designation :

Director

Date of Birth/Age :

11.03.1951

Qualification :

M. Com., CAIIB

Date of Appointment:

26-08-2014

DIN No.:

01860786

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	U65922MP1991PLC006427	CENT BANK HOME FINANCE LTD.	Director	08-09-2007	08-09-2007	23-09-2008	Active	NO
2	U67110MH1929GOI001484	CENTBANK FINANCIAL SERVICES LIMITED	Director	27-09-2007	27-09-2007	02-08-2008	Active	NO
3	L45200MH1993PLC071970	ASHOKA BUILDCON LIMITED	Director	26-08-2014	18-05-2012	-	Active	NO

Name :

Mr. Gyan Chand Daga

Designation :

Director

Date of Birth/Age :

08.09.1951

Qualification :

B. Com., Chartered Accountant

Date of Appointment:

26.08.2014

DIN No.:

00101534

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	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Whole-time director	22-09-2006	04-09-2006	01-10-2011	Active	NO
2	U23200MH1996PLC102222	IOT INFRASTRUCTURE & ENERGY SERVICES LIMITED	Director	27-08-2007	25-09-2006	27-07-2010	Active	NO
3	U74899DL1998PTC097297	INDIANOIL PETRONAS PRIVATE LIMITED	Nominee director	27-07-2010	14-10-2006	30-09-2011	Active	NO
4	U11202KA2006PTC040251	INDIANOIL SKYTANKING Private Limited	Director	11-08-2008	24-09-2007	01-10-2011	Active	NO
5	U74900KA2010PLC053989	INDIANOIL SKYTANKING DELHI LIMITED	Director	08-06-2010	08-06-2010	01-10-2011	Active	NO
6	U23201MH1966PTC013538	LUBRIZOL INDIA PRIVATE LIMITED	Director	28-11-2011	28-11-2011	-	Active	NO
7	L45200MH1993PLC071970	ASHOKA BUILDCON LIMITED	Director	26-08-2014	18-02-2013	-	Active	NO
8	U45200MH2001PLC171661	VIVA HIGHWAYS LIMITED	Nominee director	28-04-2014	28-04-2014	-	Active	NO
9	U45201MH2011PLC215760	ASHOKA CONCESSIONS LIMITED	Nominee director	19-09-2014	30-04-2014	-	Active	NO

Name :

Mr. Shyam Sundar S. G.

Designation :

Non-Executive Director

KEY EXECUTIVES

Name :	Mr. Manoj A. Kulkarni
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.04.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares
		As a % of (A+B+C)
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	104806036	56.03
Bodies Corporate	75390	0.04
Any Others (Specify)	2194620	1.17
Any Other	2194620	1.17
Sub Total	107076046	57.24
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	107076046	57.24
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	30572565	16.34
Financial Institutions / Banks	258331	0.14
Foreign Institutional Investors	2559725	1.37
Foreign Venture Capital Investors	19760016	10.56
Sub Total	53150637	28.41
(2) Non-Institutions
Bodies Corporate	12489221	6.68
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	2926695	1.56
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	9950501	5.32
Qualified Foreign Investor	699039	0.37
Any Others (Specify)	775895	0.41
Clearing Members	614597	0.33
Non Resident Indians	161298	0.09
Sub Total	26841351	14.35
Total Public shareholding (B)	79991988	42.76
Total (A)+(B)	187068034	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	187068034	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in developing and building infrastructure facilities on design, build, finance, operate, and transfer basis in highways; and engineering, procurement, and construction (EPC) basis in highways and the power sector.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

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

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

No. of Employees :

1259 (Approximately)

Bankers :

• Axis Bank Limited
• Bank of India
• Bank of Maharashtra
• Canara Bank
• Corporation Bank
• The Federal Bank Limited
• Indian Bank
• State Bank of India
• IDFC Limited

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015	As on 31.03.2014
Long Term Borrowing
Term Loans from Bank	NA	260.683
Term Loans from Others	NA	4.175
Short Term Borrowing
Bank – Cash Credits	NA	748.064
Bank – Demand loan	NA	602.709
Total	NA	1615.631

Auditors :
Name :	M. P. Chitale and Company Chartered Accountants
Address :	Mumbai, Maharashtra, India
Memberships :	Not Available
Collaborators :	Not Available
Parties where control exists :	Viva Highways Limited, India Viva Infrastructure Limited, India Ashoka Infraways Limited, India Ashoka-DSC Katni Bypass Road Limited, India Ashoka Infraways Limited, India Ashoka Technologies Limited, India Ashoka Precon Limited, India Ashoka Cuttak Angul Tollway Limited, India Ashoka Highways (Bhandara) Limited, India Ashoka Highways (Durg) Limited, India Ashoka Concession Limited, India Ashoka Sambalpur Bargarh Tollway Limited, India Ashoka Belgaum Dharwad Tollway Limited, India Ashoka Dhankuni Kharagpur Tollway Limited, India Ashoka GVR Mudhol Nipani Roads Limited, India
Enterprises in which Key Management Personnel / Directors have significant influence :	Ashoka Buildwell and Developers Private Limited Ashoka Builders (Nasik) Private Limited Jaora Nayagaon Toll Road Co. Private Limited Ashoka Engineering Company Ashoka Vastuvaibhav Ashoka E-Tech Shweta Agro Farm Ashoka Construwell Private Limited Ashoka Education Foundation Ashoka Biogreen Private Limited Ashoka City Tower construction Ashoka Shilp Akruti Private Limited Ashoka Vastukala Nirman Private Limited Ashoka Housing Construction Private Limited Ashoka Township (AOP) Hotel Evening Inn Private Limited
Associates and Joint Ventures :	Ashoka Bridgeways Ashoka Highway AD. Jaora Nayagaon Toll Road Company Private Limited Ashoka Infrastructures Ashoka Valecha JV Abhijit Ashoka Infrastructures Private Limited Cube Ashoka PNG Tollways Limited GVR Ashoka Chennai ORR Limited

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital Not Available

Issued, Subscribed & Paid-up Capital: Rs. 793.133 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
162200000	Equity Shares	Rs.5/- each	Rs. 811.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
157953090	Equity Shares	Rs.5/- each	Rs. 789.765 Million

Reconciliation of Number of Shares Outstanding:

Class of Shares	31.03.2014
	Equity Shares
Outstanding as at 01-Apr-13	52651030
Addition during the period
Shares Split Impact	52651030
Bonus Issue	52651030
Matured during the period	-
Outstanding as at 31-March-14	157953090

On July 4, 2013, the company has split equity of Rs. 10/- each fully paid up into Rs. 5/- each fully paid up share and there after allotted bonus equity shares pf Rs. 5/- each fully paid up, in the ratio of 1:2 (one equity shares Rs. 5/- each for every two share of the Rs. 5/- held) to all the registered shareholders as on the record date. The earnings per share (EPS) data for all the periods disclosed above have been adjusted for the split and bonus share as per the accounting Standards 20 on Earnings per Shares

Details of shares in the Company held by each shareholder holding more than 5% shares:

Class of Shares	31.03.2014
	Equity Shares
Ashok M. Katairya	13087220
Asha A. Katariya	7905240
Ashish A. Katariya	12311796
Ashish A. Katariya-HUF	11109372
Astha A. Katairya	9164234
IDFC Trustee Company Limited-IDFC Infrastructure Fund 2 A/c IDFC PE Fund II	9411957
Satish D. Parakh	11808195
Satish D. Parakh-HUF	10780410
Shobha S. Parakh	10586410

As on 26.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
248000000	Equity Shares	Rs.5/- each	Rs. 1240.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
158543600	Equity Shares	Rs.5/- each	Rs. 792.718 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	793.133	789.765	526.510
(b) Reserves & Surplus	9750.222	8538.084	8012.916
(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)	10543.355	9327.849	8539.426
(3) Non-Current Liabilities
(a) long-term borrowings	2276.511	551.563	658.264
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	1990.063	3470.458	3609.141
(d) long-term provisions	778.996	683.677	593.315
Total Non-current Liabilities (3)	5045.570	4705.698	4860.720
(4) Current Liabilities
(a) Short term borrowings	2005.764	1350.773	1719.000
(b) Trade payables	5904.841	4040.159	3242.320
(c) Other current liabilities	2845.220	2482.086	2168.604
(d) Short-term provisions	252.460	195.524	232.427
Total Current Liabilities (4)	11008.285	8068.542	7362.351
TOTAL	26597.210	22102.089	20762.497
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1871.205	1671.493	1655.444
(ii) Intangible Assets	0.000	354.764	550.231
(iii) Capital work-in-progress	0.000	240.967	210.261
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	10903.765	9756.505	7450.057
(c) Deferred tax assets (net)	98.823	20.474	6.981
(d) Long-term Loan and Advances	1309.980	1100.423	2491.515
(e) Other Non-current assets	876.229	732.394	723.488
Total Non-Current Assets	15060.002	13877.020	13087.977
(2) Current assets
(a) Current investments		4470.756	4.138
(b) Inventories	4685.419	1895.503	5039.242
(c) Trade receivables	4782.535	305.475	1447.476
(d) Cash and cash equivalents	255.732	1470.110	337.599
(e) Short-term loans and advances	1699.537	83.225	789.573
(f) Other current assets	113.985	4470.756	56.492
Total Current Assets	11537.208	8225.069	7674.520
TOTAL	26597.210	22102.089	20762.497

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	6745.104	15566.408	16376.236
	Other Operating Income	14.717	0.000	0.000
	Other Income	321.978	474.017	582.078
	TOTAL (A)	7081.799	16040.425	16958.314
Less	EXPENSES
	Cost of Materials Consumed	5534.900	519.628	509.627
	Operating Expenses	0.000	12206.147	12979.173
	Employees benefits expense	163.637	491.699	431.39
	Exceptional Items	0.000	156.885	156.885
	Other expenses	171.825	364.775	434.329
	TOTAL (B)	5870.362	13739.134	14511.404
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1211.437	2301.291	2446.910
Less	FINANCIAL EXPENSES (D)	202.753	334.417	396.843
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1008.684	1966.874	2050.067
Less/ Add	DEPRECIATION/ AMORTISATION (F)	132.114	433.779	495.712
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	876.570	1533.095	1554.355
Less	TAX (H)	189.999	498.707	532.835
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	686.571	1034.388	1021.520
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	8538.084	4526.745	3817.981
Less	APPROPRIATIONS
	Transfer to General Reserve	0.000	103.439	102.152
	Dividend	0.000	236.93	210.604
	Total (M)	0.000	340.369	312.756
	Balance Carried to the B/S (J+K+L-M)	9224.655	5220.764	4526.745
	Earnings / (Loss) Per Share (Rs.)	4.33	6.55	6.47

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	337.497	355.400
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	10.18	6.65	6.24
Operating Profit Margin (PBDIT / Sales)	(%)	17.96	14.78	14.94
Return on Total Assets (PBT/Total Assets}	(%)	5.62	12.69	12.18
Return on Investment (ROI) (PBT/Networth)		0.08	0.16	0.18
Debt Equity Ratio (Total Debt /Networth)		0.41	0.24	0.32
Current Ratio (Current Asset/Current Liability)		1.05	1.02	1.00

STOCK PRICES

Face Value	Rs.5
Market Value	Rs.163

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	526.510	789.765	793.133
Reserves & Surplus	8012.916	8538.084	9750.222
Net worth	8539.426	9327.849	10543.355
long-term borrowings	658.264	551.563	2276.511
Short term borrowings	1719.000	1350.773	2005.764
Current Maturities Of Long-Term Debts	355.400	337.497	0.000
Total borrowings	2732.664	2239.833	4282.275
Debt/Equity ratio	0.320	0.240	0.406

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	16376.236	15566.408	6745.104
		(4.945)	(56.669)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	16376.236	15566.408	6745.104
Profit	1021.520	1034.388	686.571
	6.24%	6.65%	10.18%

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	No
8	Designation of contact person	No
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	Yes
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	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS
Bench:- Bombay
Presentation Date:-				19.07.2014
Lodging No.:-		ITXAL/1374/2014			Filing Date:-		19.07.2014
Reg. No.:-		ITXA			Reg. Date:-		27.11.2014
Petitioner:-	THE COMMISSIONER OF INCOME –TAX		Respondent:-			ASHOKA BUIDCON LIMITED
Petn.Adv:-	PADMA DIVAKAR (I3287)		Resp. Adv:-
District:-	NAGPUR
Bench:-	DIVISION		Category:-			TAX APPEALS
Status:-	Pre-Admission		Stage :			FOR REJECTION [ORIGINAL SIDE MATTERS]
Last Coram:-	ACCORDING TO SITTING LIST
	ACCORDING TO SITTING LIST
Act :-	Income Tax Act, 1961

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2015	As on 31.03.2014
Long Term Borrowing
Loan from Related Parties	NA	286.705
Total	NA	286.705

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2015	31.03.2014
Bank Guarantees issued by bankers in favour of third parties	NA	7085.694
Corporate Guarantee issued by the Company in favour of Banks/ Financial Institutions for finance raised by Companies under the same management and against mobilization advance	NA	11700.000
Claims against the Company not acknowledged as debts	NA	2.390
Liability against capital commitments outstanding (Net of Advances)	NA	4.086
Liability of Duty against Export Obligations	NA	3.918
Disputed Duties / Tax Demands (net of taxes paid)	NA	125.914
Resurfacing obligation as per concession agreement	NA	70.977

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10563129	07/04/2015	115,151,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W  , MUMBAI, Maharashtra - 400013, INDIA	C50773365
2	10566501	07/04/2015	2,000,000,000.00	Axis Bank Limited	CORPORATE BANKING BRANCH, GROUND FLOOR,, AXIS HOUSE, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI, MAHARASHTRA - 400025, INDIA	C52199908
3	10561577	26/03/2015	1,000,000,000.00	IDFC Limited	KRM TOWER, 8TH FLOOR,, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI, TAMIL NADU - 600031, INDIA	C50126176
4	10535451	05/12/2014	12,650,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C36272623
5	10532445	07/11/2014	1,071,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C34372003
6	10524986	01/10/2014	542,284.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C28724037
7	10524990	01/10/2014	542,284.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C28725174
8	10524992	01/10/2014	542,284.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	C28726578

* Date of charge modification

FIXED ASSETS

Tangible assets

• Leasehold Land
• Freehold Land
• Buildings
• Plant and Machineries
• Data Processing Equipments
• Office Equipments
• Furniture and Fixtures
• Vehicles

Intangible Assets

• License to collect Toll
• Software

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.63.87
UK Pound	1	Rs.98.89
Euro	1	Rs.70.73

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	RAS
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	8
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		65

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.