MIRA INFORM REPORT

Report No. :	320363
Report Date :	26.05.2015

IDENTIFICATION DETAILS

Name :		CATERPILLAR INDIA PRIVATE LIMITED
Registered Office :		7^th Floor, International Tech Park, Chennai Taramani Road, Chennai - 600113, Tamilnadu
Tel. No.:	91-44-42691001
Country :		India
Financials (as on) :		31.03.2014
Date of Incorporation :		07.12.2000
Com. Reg. No.:		18-046255
Capital Investment / Paid-up Capital :		Rs. 1772.160 Million
CIN No.: [Company Identification No.]		U29244TN2000FTC046255
TAN No.: [Tax Deduction & Collection Account No.]		CHEC02709A
PAN No.: [Permanent Account No.]		AABCC4615K
Legal Form :		Private Limited Liability Company
Line of Business :		Manufacturing of Earthmoving Equipment, Construction and Other Industrial Equipment and also provides Engineering Design Services, Marketing Support and Business Support to Other Caterpillar Group Companies
No. of Employees :		Not Available

RATING & COMMENTS

MIRA’s Rating :

Aa (79)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 48000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of “Caterpillar Group”. It is a well-established and reputed company having fine track. Financial position of the company is sound. Fundamentals are strong and healthy. Trade relations are reported to be fair. Business is active. Payments terms are reported to be regular and as per commitment. In view of strong group, the company can be considered good for normal business dealings 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	FITCH
Rating	Long Term Issuer Rating “AAA”
Rating Explanation	Have the highest degree of safety and carry lowest credit risk
Date	21.07.2014

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.

LOCATIONS

Registered Office :	7^th Floor, International Tech Park, Chennai Taramani Road, Chennai - 600113, Tamilnadu, India
Tel. No.:	91-44-42691001// 42691002
Fax No.:	Not Available
E-Mail :	catindia_cs@cat.com thirumalai_varadharajan@cat.com kodukulla_surya@cat.com chaudhary_anuradha@cat.com
Website :	http://www.cat.com http://www.india.cat.com
Factory 1 :	BCP Unit, Melnallathur, Thiruvallur - 602004, Tamilnadu, India
Other Factories :	Located at : · Sriperumbudur · Hosur · Pondicherry

DIRECTORS

AS ON 10.12.2014

Name :

Mr. Ajay Shankar

Designation :

Whole time Director

Address :

1121 W Austin Drive, Peoria, Illinois, USA – 61614.

Date of Birth/Age :

26.08.1948

Date of Appointment :

27.08.2009

DIN No.:

00387684

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	U72200DL2000PTC108425	AXIS INFOWAY (INDIA) PRIVATE LIMITED	Director	15/10/2004	15/10/2004	01/12/2008	Active	NO
2	U74899DL1998PLC095822	AXIS COGENT GLOBAL LIMITED	Director	28/11/2004	28/11/2004	01/02/2008	Active	NO
3	L72200DL1990PLC041275	AXISCADES Engineering Technologies Limited	Whole-time director	29/07/2005	29/07/2005	01/02/2008	Active	NO
4	U29244TN2000FTC046255	CATERPILLAR INDIA PRIVATE LIMITED	Whole-time director	27/08/2009	01/10/2008	-	Active	NO

Name :

Mr. Rengarajan Sundararajan

Designation :

Whole time Director

Address :

Flat 401, Building No. 10, Shanthi Park Apartments, Jayanagar 9^th Block, Bangalore – 560 069, Karnataka. India

Date of Birth/Age :

11.04.1965

Date of Appointment :

12.12.2007

DIN No.:

00548101

Name :

Mr. Ramarathnam Varadadesikan

Designation :

Director

Address :

Flat No.6, Srinivas New No.28,Kesav Perulal West Ward Mylapore, Chennai – 600004, Tamil Nadu, India

Date of Birth/Age :

18.03.1974

Date of Appointment :

13.12.2013

DIN No.:

01956494

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	U29309TN1998PTC040878	CATERPILLAR COMMERCIAL PRIVATE LIMITED	Director appointed in casual vacancy	11/12/2007	11/12/2007	Amalgamated	NO
2	U29244TN2000FTC046255	CATERPILLAR INDIA PRIVATE LIMITED	Director	13/12/2013	19/09/2013	Active	NO

Name :

Mr. Ganesh Ramamurthy Iyer

Designation :

Whole Time Director

Address :

2, Leonie Hill Road, 02 02, Leonie Condotel, Singapore – 239192

Date of Birth/Age :

01.06.1968

Date of Appointment :

27.08.2009

DIN No.:

02388483

Name :

Mr. Vanmeeganathan Vivek Anand

Designation :

Director

Address :

4A, 13^th Cross, Bharathi Nagar Extension, Puthur PO, Trichy – 620017, Tamil Nadu, India

Date of Birth/Age :

25.06.1976

Date of Appointment :

28.09.2011

DIN No.:

03561588

Name :

Mr. Ramesh Muthuraman

Designation :

Director

Address :

Villa No.99, Himagiri Meadows, Near Gottigere Bannerghatta Road, Bangalore – 560083, Karnataka, India

Date of Birth/Age :

01.01.1971

Date of Appointment :

26.09.2012

DIN No.:

05316127

Name :

Mr. Ramanthapuram Sethuraman Chidambaram

Designation :

Director

Address :

D 803, Ittina Akkala Apartments, White Field Road, Hoodi Circle, Mahadevpura, Bangalore – 560048, Karnataka, India

Date of Birth/Age :

23.09.1978

Date of Appointment :

13.12.2013

DIN No.:

06583388

Name :

Ramesh Tipirneni

Designation :

Director

Address :

No. 410, Phase II, Adarsh Palam Meadows, Ramagondanahalli, Bangalore – 560037, Karnataka, India

Date of Birth/Age :

03.06.1963

Date of Appointment :

10.12.2014

DIN No.:

06630994

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	U29294TN1999PTC095857	BUCYRUS INDIA PRIVATE LIMITED	Managing director	27/09/2013	07/08/2013	Amalgamated	NO
2	U29244TN2000FTC046255	CATERPILLAR INDIA PRIVATE LIMITED	Director	10/12/2014	26/11/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Rama Krishna P
Designation :	Secretary
Address :	No. 17, Hermba Nilaya, 1^st Main 1^st Cross, Chamundeswari Layout, DB Sandra Vidyaranyapura, Bangalore – 560092, Karnataka, India
Date of Birth/Age :	19.01.1972
Date of Appointment :	04.11.2013
PAN No.:	AJHPK7407R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 10.12.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Caterpillar Commercial S.A., Belgium	169216359	90.82
Caterpillar Commercial LLC, USA	75	0.00
Caterpillar Inc., USA	7199928	3.86
Caterpillar (NI) Limited	800000	0.43
Bucyrus Europe Limited	17571	0.01
Caterpillar Global Mining LLC	9083959	4.88
Total	186317892	100.00

AS ON 10.12.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Earthmoving Equipment, Construction and Other Industrial Equipment and also provides Engineering Design Services, Marketing Support and Business Support to Other Caterpillar Group Companies

Products/ Services :

ITC Code No.	Product Descriptions
84295200	Earthmoving Machinery and Component

Brand Names :

--

Agencies Held :

--

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

Customers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Maximum limit dealt:	Not Available
Experience:	Not Available
Remark	Not Available

No. of Employees :

Not Available

Bankers :

Bank Name:	Not Available
Branch:	Not Available
Person Name (with Designation):	Not Available
Contact Number:	Not Available
Name of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year of A/c Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Available
Account Operation:	Not Available
Remarks:	Not Available

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Price Waterhouse and LLP Chartered Accountants
Address :	5th Floor, Tower, "D", The Millenia, 1&2 Murphy Road, Ulsoor, Bangalore - 560 008, India
Income-tax PAN of auditor or auditor's firm :	AADFP9359C
Memberships :	--
Collaborators :	--
Ultimate Holding Company :	· Caterpillar Incorporation USA, United States
Fellow Subsidiaries :	· Caterpillar SARL, Singapore · F.G. Wilson Engineering Limited, United Kingdom · Caterpillar Asia Pte Limited, Malaysia · Caterpillar Logistics Incorporation, United States · EMD Locomotive Technologies Private Limited, India CIN No.: U35201DL1996PTC083567 · Caterpillar Global Mining LLC, Unite States · Perkins India Private Limited CIN No.: U29253TN2011PTC084853 · Caterpillar Group Services S.A., Belgium · Caterpillar China Investments Company Limited · Bucyrus India Private Limited CIN No.: U29294KA1999PTC025182 · Caterpillar Japan Limited, Japan · Solar Turbines India Private Limited, India CIN No.: U45207MH2001PTC132156 · SPL Software Alliance LLC, Unite States

CAPITAL STRUCTURE

AS ON 10.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
224,000,000	Equity Shares	Rs. 10/- each	Rs. 2240.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
186,317,892	Equity Shares	Rs. 10/- each	Rs. 1863.179 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
19,90,00,000	Equity Shares	Rs. 10/- each	Rs. 199.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17,72,16,362	Equity Shares	Rs. 10/- each	Rs. 1772.160 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	1772.160	1772.160	1772.160
(b) Reserves & Surplus	15365.840	15889.840	9137.840
(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)	17138.000	17662.000	10910.000
(3) Non-Current Liabilities
(a) Long-term borrowings	8030.000	9033.000	6620.000
(b) Deferred tax liabilities (Net)	0.000	377.000	248.000
(c) Other long term liabilities	83.000	142.000	235.000
(d) long-term provisions	3117.000	368.000	295.000
Total Non-current Liabilities (3)	11230.000	9920.000	7398.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	200.000
(b) Trade payables	4003.000	6903.000	10669.000
(c) Other current liabilities	5192.000	1386.000	1882.000
(d) Short-term provisions	1092.000	661.000	432.000
Total Current Liabilities (4)	10287.000	8950.000	13183.000
TOTAL	38655.000	36532.000	31491.000
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10614.000	10201.000	6505.000
(ii) Intangible Assets	92.000	103.000	82.000
(iii) Capital work-in-progress	317.000	563.000	1036.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	592.000	0.000	0.000
(d) Long-term Loan and Advances	1755.000	1362.000	741.000
(e) Other Non-current assets	90.000	20.000	16.000
Total Non-Current Assets	13460.000	12249.000	8380.000
(2) Current assets
(a) Current investments
(b) Inventories	0.000	0.000
(c) Trade receivables	10600.000	12229.000	11173.000
(d) Cash and cash equivalents	3741.000	4240.000	1108.000
(e) Short-term loans and advances	4906.000	227.000	7203.000
(f) Other current assets	5948.000	7587.000	3627.000
Total Current Assets	25195.000	24283.000	23111.000
TOTAL	38655.000	36532.000	31491.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	31754.000	55696.000	43425.000
		Other Income	609.000	392.000	258.000
		TOTAL	32363.000	56088.000	43683.000
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	33805.000	46101.000	37321.000
	PROFIT/(LOSS) BEFORE TAX		(1442.000)	9987.000	6362.000
Less	TAX		(680.000)	3235.000	2043.000
	PROFIT/(LOSS) AFTER TAX		(762.000)	6752.000	4319.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		15471.000	8719.000	4401.000
Less	APPROPRIATIONS
		Transfer to General Reserve	56.000	0.000	0.000
	BALANCE CARRIED TO THE B/S		14653.000	15471.000	8720.000
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	20445.000	43794.000	30692.000
	Earnings Per Share (Rs.)		NA	0.04	0.02

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	2.890	0.000	0.000
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(2.40)	12.12	9.95
Return on Total Assets (PBT/Total Assets}	(%)	(3.82)	27.77	20.89
Return on Investment (ROI) (PBT/Networth)		(0.08)	0.57	0.58
Debt Equity Ratio (Total Debt/Networth)		0.49	0.51	0.63
Current Ratio (Current Asset/Current Liability)		2.45	2.71	1.75

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	1772.160	1772.160	1772.160
Reserves & Surplus	9137.840	15889.840	15365.840
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	10910.000	17662.000	17138.000
long-term borrowings	6620.000	9033.000	8030.000
Short term borrowings	200.000	0.000	0.000
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	289.000
Total borrowings	6820.000	9033.000	8319.000
Debt/Equity ratio	0.625	0.511	0.485

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)
Sales	43425.000	55696.000	31754.000
		28.258	(42.987)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	43425.000	55696.000	31754.000
Profit	4319.000	6752.000	(762.000)
	9.95%	12.12%	(2.40%)

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	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90307550	07/07/1995	20,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RESIDENCY ROAD, BANGALORE - 560025, KARNATAKA, INDIA	-
2	90307266	06/01/1996 *	90,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, RESIDENCY ROAD, BANGALORE - 560025, KARNATAKA, INDIA	-

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Foreign Currency Term Loans from others	8.030	9.033
Total	8.03	9.033

GENERAL INFORMATION:

The Company principal line of business includes manufacturing of earthmoving equipment, construction and other industrial equipment. The Company also provides engineering design services, marketing support and business support to other Caterpillar group companies. It has its registered office in Chennai and manufacturing plants at Thiruvallur and Hosur. The Company s products are exported to other Caterpillar group companies as well as sold in the domestic market within India.

BUSINESS UPDATES:

INTEGRATED MANUFACTURING OPERATING DIVISION (IMOD)

The mining industry slowdown continued to stay flat during this year. Some new variants of Excavators were launched for Indian market. The company also enhanced its capability on new components for building Lower Power Trains of Large wheel Loaders and Under Ground Mining.

INDUSTRIAL POWER SYSTEMS DIVISION (IPSD)

Horus Engine facility has now become part of Industrial Power Systems Division under Energy and Transportation group of Caterpillar. During this year, the Horus facility has introduced a new product.

ENGINEERING DESIGN CENTRE (EDC)

This division continues to play a major role in Caterpillars global research and development in the areas of Mechanical system design, virtual validation and manufacturing engineering services with more focus on regional

Product development

BUILDING CONSTRUCTION PRODUCT (BCP)

During the year, BCP Division enhanced their paint operations capability.

ELECTRIC POWER DIVISIONC (EPD)

Pondicherry facility:

CIPL, EPD production facility at Pondicherry is permanently closed. All licenses have been de-registered.

Horus facility:

New CPCB2 emission norms implemented

ADVANCED COMPONENT SYSTEM DIVISION (ACSD)

With the continued growth, ACSD Horus footprint was relocated into a Leased space within Horus region. This expansion will not only help our Caterpillar, but also expected to help Horus local economy. The transition from the prior facility was successfully done Safely, On-Time, without any spikes in quality, and zero issues with CSP.

INDIA EXPORT CONSOLIDATION CENTER (IECC) & INDIA LOGISTICS CENTER (ILC)

As part of implementing the global integrated supply chain strategy for Caterpillar manufacturing facilities, Integrated Logistics Services (ILS) established two centers in a leased facility at Polivakkam namely India Logistics Center (ILC) and India Export Consolidation Center (IECC). These facilities are fully operational.

MERGER

The Company has successfully completed the merger of Bucyrus India Private Limited, thru Scheme of Amalgamation approved by the Honble High Court of Chennai vide its Order date 10th October 2014. The Appointed Date of the merger is 1 April 2013 which became effective from 1 November, 2014. Pursuant to the said merger, the Authorized Capital of the Company stands increased to Rs. 224 Crores from the earlier Rs. 199 Crores.

The Company has filed all the requisite forms with the statutory forms with the relevant authorities and the merger is Effective from 1st November 2014.

CONTINGENT LIABILITIES

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Customs duty matters under dispute [Note (a)]	92.000	92.000
Excise duty related claims under dispute [Note (b)]	99.000	29.000
Sales Tax matters under dispute [Note (c)]	26.000	70.000
Outstanding bank guarantees	4.000	97.000
Total	221.000	288.000

NOTES:

· Relates to duty demand at normal rate against goods imported at concessional rate of duty against supplies of Machines to green field projects.

· Relates to duty demand on Machines supplied to projects with exemption under Notification No.108/95 clearances.

· Relates to value added tax demand at normal rate as against the supplies of diesel generator sets at concessional rates.

· Due to the very nature of such disputes, it is not possible to estimate the timing / uncertainties relating to the cash outflows with respect to the above contingent liabilities.

· The above Contingent Liabilities does not include Income tax matters under dispute where favourable orders have been received at appellate levels with respect to similar disputes.

PRESS PELEASES

CATERPILLAR EYES SALES BOOST

July 2, 2014

The Company has announced a 20 percent reduction in Emi during the Monsoon Season or 20 percent Reduction in their Initial Maintenance cost besides a Freebie Scheme

Caterpillar India, on Wednesday, launched a new backhoe loader with a promise of 20 per cent higher fuel efficiency. Priced marginally higher than its earlier backhoes, the new 424B machine has come with significant changes in structures and hydraulic systems, among others, for meeting Indian customer requirements.

The company said the new product would help boost the profitability levels of contractors significantly. “Fuel represents 40-50 per cent of operating cost of the customers and 20 per cent reduction in fuel consumption is a lot for them,” said Vivek Chandrasekharan, Sales and Marketing, Director- Asia Region, Building Construction Products Division, Caterpillar.

The company has announced a 20 per cent reduction in EMI during the monsoon season or 20 per cent reduction in their initial maintenance cost besides a freebie scheme. Based on a tie-up, Tata Capital Financial Services will provide lending support for buyers of Cat equipment.

Mr. Chandrasekharan said the construction equipment segment was hit by downturn for the past 18-24 months. But there were signs of revival and the second-half of this calendar year would be better than previous periods. “We hope to see some growth in the first quarter of 2015,” he added.

According to estimates, Indian backhoe loader market, largest in the world, saw 15 per cent drop in volumes at about 27,500 units in 2013.

CATERPILLAR INDIA STRENGTHENING PCATERRESENCE, PRODUCT RANGE

Rolls Out New Variant Of Backhoe Loader

CHENNAI, JULY 2: Caterpillar India is strengthening its manufacturing capacity and product range  as emerging markets will contribute to more than half the demand for construction equipment industry and allied sectors in the coming years.

Addressing a press conference on the launch of a new variant of backhoe loader, the Cat 424B, Ramesh Tipirneni, Country Manager, Caterpillar India, said the company has added a second engine production line at Horus to make the 3406 series of engines.

The new Cat 424B is an optimised and more fuel-efficient version of the existing range. The backhoe is priced around ₹20-24 lakh. The company will assist buyers with its Cat Finance Solution operated by Tata Capital Financial Services.

Its $150 million Perkins engine manufacturing plant coming up in Aurangabad will start production next year. It will make engines for genets and for original equipment manufacturers, he said.

Vivek Chandrasekharan, Director – Asia Region, Building Construction Division, Caterpillar, said the emerging markets are expected to contribute to more than half the global demand for construction equipment in the coming years.

Caterpillar equipment caters to construction sector, mining, energy and transportation. The slowdown has hit the construction equipment industry for now. In 2013, the total domestic sale of backhoe loaders is estimated at 27,500 units.

In the first half of the current year, industry sales are down about 25 per cent. But the industry is optimistic on growth in the coming year with the Government focus on infrastructure and industrial development, he said.

FIXED ASSETS:

· Land

· Buildings

· Office Building

· Plant and Equipment

· Other 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 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. 63.62
UK Pound	1	Rs. 98.51
Euro	1	Rs. 69.93

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILITY	1~10	9
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		79

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.