MIRA INFORM REPORT

Report No. :	323283
Report Date :	29.05.2015

IDENTIFICATION DETAILS

Name :	SHILPA ELECTRICAL ENGINEERS (INDIA) PRIVATE LIMITED

Registered Office :	Plot No 3 and 20, II Floor, Sony Business Complex, Prashanthi Nagar, IDA Kukkatpally, Hyderabad – 500072, Telangana
Tel. No.:	91-40-23073949/ 23070769

Country :	India

Financials (as on) :	31.03.2015 (Provisional)

Date of Incorporation :	29.08.2007

Com. Reg. No.:	055316

Capital Investment / Paid-up Capital :	Rs. 27.000 Million

CIN No.: [Company Identification No.]	U74999TG2007PTC055316

TIN No.:	28979465810

TAN No.: [Tax Deduction & Collection Account No.]	HYDS21781E

PAN No.: [Permanent Account No.]	AALCS7808A

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in Supply and Erection of External and Internal Electrical Works on Turnkey Basis.

No. of Employees :	60 (10 in Office and 50 Field Staff at Site) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. It was established in the year 2007 and it is engaged in the erection of high tension electrical transmission lines, substations and electrical contracts for industrial and residential buildings. The rating takes into consideration Shilpa’s modest scale of operations in a highly fragmented and competitive electrical contracts industry. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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 = B+
Rating Explanation	Have risk prone credit quality and carried very high credit risk.
Date	May 23, 2014

Rating Agency Name	CRISIL
Rating	Short term Rating = A4
Rating Explanation	Have minimal degree of safety and carry very high credit risk.
Date	May 23, 2014

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 PARTED BY

Name :	Mr. Jagadish Kumar
Designation :	Administration Executive
Contact No.:	91-9347331373
Date :	26.05.2015

LOCATIONS

Registered Office :	Plot No 3 and 20, II Floor, Sony Business Complex, Prashanthi Nagar, IDA Kukkatpally, Hyderabad – 500072, Telangana, India
Tel. No.:	91-40-23073949/ 23070769
Mobile No.:	91-9848012819 91-9347331373 [Mr. Jagadish Kumar]
Fax No.:	91-40-23070769
E-Mail :	shilpaelectrical@yahoo.co.in shilpaelectrical@gmail.com
Website :	http://www.shilpaelectrical.net
Location :	Owned

DIRECTORS

AS ON 25.09.2014

Name :	Mr. Sudhakar Reddy Gurijala
Designation :	Director
Address :	2-50/ C.P. No. 33, J.P. Nagar, Bharath Nagar, Hyderabad – 500018, Telangana, India
Date of Birth/Age :	07.04.1968
Qualification :	Graduate
Experience :	15 Years
Date of Appointment :	29.08.2007
PAN No.:	AFAPG6419A
DIN No.:	01644155

Name :	Sailaja Gurijala
Designation :	Director
Address :	2-50/ C.P. No. 33, J.P. Nagar, Bharath Nagar, Hyderabad – 500018, Telangana, India
Date of Birth/Age :	26.05.1975
Qualification :	Under Graduate
Experience :	15 Years
Date of Appointment :	29.08.2007
PAN No.:	ADWPG1935F
DIN No.:	01644190

KEY EXECUTIVES

Name :	Mr. Jagadish Kumar
Designation :	Administration Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Sudhakar Reddy Gurijala	850000	50.00
Sailaja Gurijala	850000	50.00

Total	1700000	100.00

AS ON 30.03.2015

Names of Allottees	No. of Shares
Sudhakar Reddy Gurijala	500000
Sailaja Gurijala	500000

Total	1000000

AS ON 25.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in Supply and Erection of External and Internal Electrical Works on Turnkey Basis.

Brand Names :	--

Agencies Held :	--

Exports :
Products :	--
Countries :	--

Imports :
Products :	--
Countries :	--

Terms :
Selling :	--

Purchasing :	LC with 30 Days credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	--
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

· Sabari Enterprises

Address: D. No. 1-8-19, Minister Road, Rabigunj, Near Jame Street, Secunderabad – 500003, Telangana, India

Activity: 91-40-66901033 [Ringing]

· ABB India Limited

Address: Plot No. 4A, 5 and 6, II Phase, Industrial Area, Bangalore – 560058, Karnataka, India

Activity: 91-80-22949523 [Denied]

· Hyderabad Galvanising Private Limited

Address: Sy No. 811/A and 815, Aankireddy Pally Village, Keesara Mandal, Hyderabad – 501301, Telangana, India

Activity: 91-8418-285556 [Ringing]

· SS Enterprises

Address: D. No. 4-2-153/2, Old Abhoiguda, Din Dayal Market, Secunderabad – 500003, Telangana, India

Activity: 91-40-66385075 [Denied]

· Hinth Transformers Private Limited

Address: B-13, IDA, Gandhinagar, Kukatapally, Hyderabad – 500037, Telangana, India

Activity: 91-40-23079911 [Ringing]

· Crompton Greaves Limited

Address: A3, MIDC, Ambad, Nashik – 422010, Maharashtra, India

Activity: 91-253-2382271 [Ringing]

Customers :

Infrastructure developers including Government Departments

Reference:	--
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

· AP Transco Palamakula

· Tech Mahindra (Consultancy)

· PSR Constructions

· DLF Southern Towns Private Limited

· Dakshinanchal Vidyut Vitran Nigam Limited

· DLF Gayatri Developers

No. of Employees :

60 (10 in Office and 50 Field Staff at Site) (Approximately)

Bankers :

Bank Name:	Bank of Baroda
Branch:	S R Nagar Branch, H No. 8-3-214/17, Srinivasa Nagar (West), S. R. Nagar, Hyderabad - 500038, Andhra Pradesh, India
Person Name (with Designation):	B. K. Sablok (Chief Manager)
Contact Number:	91-8008177557
Name of Account Holder:	Shilpa Electrical Engineers (India) Private Limited
Account Number:	29910500000010
Account Since (Date/ Year of A/c Opening):	April 2008
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	Rs. 90.000 Million
Account Operation:	--
Remarks:	--

Facilities :

(RS. IN MILLION)

SECURED LOANS	31.03.2015 (Provisional)
LONG-TERM BORROWINGS
From Banks
HDFC	0.387
HDFC	0.287
Others	1.301
SHORT-TERM BORROWINGS
Banks CC Loans	43.465

Total	45.440


Auditors :
Name :	S N K and Associates Chartered Accountants
Address :	3-5-612, Vittalwadi, Himayathnagar, Hyderabad – 500029, Andhra Pradesh, India
Tel. No.:	91-40-42007225/ 23260225/ 65597225
Mobile No.:	91-9848767225
E-Mail :	snkandassociates@hotmail.com
Income-tax PAN of auditor or auditor's firm :	AATFS4111K

Memberships :	--

Collaborators :	--

Associates : [As on 31.03.2014]	· Shilpa Electrical Engineers · Sai Shilpa Associates · Sai Tulasi Home

CAPITAL STRUCTURE

AS ON 31.03.2015 [PROVISIONAL]

Authorised Capital :

No. of Shares	Type	Value	Amount

2,700,000	Equity Shares	Rs. 10/- each	Rs. 27.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2,700,000	Equity Shares	Rs. 10/- each	Rs. 27.000 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015 (Provisional)	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	27.000	17.000	5.000
(b) Reserves & Surplus	26.048	17.190	12.846
(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)	53.048	34.190	17.846

(3) Non-Current Liabilities
(a) Long-term borrowings	1.975	0.762	0.429
(b) Deferred tax liabilities (Net)	0.458	0.459	0.389
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	2.433	1.221	0.818

(4) Current Liabilities
(a) Short term borrowings	57.082	38.843	4.958
(b) Trade payables	10.875	16.675	3.517
(c) Other current liabilities	9.459	7.848	14.660
(d) Short-term provisions	3.796	2.062	1.020
Total Current Liabilities (4)	81.212	65.428	24.155

TOTAL	136.693	100.839	42.819

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8.226	7.065	5.494
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	8.226	7.065	5.494

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	20.951	20.886	5.080
(c) Trade receivables	69.195	48.420	20.234
(d) Cash and cash equivalents	8.005	16.878	5.957
(e) Short-term loans and advances	9.819	3.868	1.810
(f) Other current assets	20.497	3.722	4.244
Total Current Assets	128.467	93.774	37.325

TOTAL	136.693	100.839	42.819

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
	SALES
		Revenue from Operations	253.073	133.954	62.130
		Other Income	0.086	0.423	0.150
		TOTAL (A)	253.159	134.377	62.280

Less	EXPENSES
		Purchases of Stock-in-Trade	167.904	70.723	22.272
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.064)	(15.807)	(0.859)
		Employees benefits expense	12.863	9.644	6.439
		Other expenses	54.422	60.998	29.239
		TOTAL (B)	235.125	125.558	57.091

	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		18.034	8.819	5.189

Less	FINANCIAL EXPENSES (D)		4.537	1.819	1.241

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		13.497	7.000	3.948

Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.843	0.523	0.469

	PROFIT BEFORE TAX (E-F) (G)		12.654	6.477	3.479

Less	TAX (H)		3.796	2.133	1.075

	PROFIT AFTER TAX (G-H) (I)		8.858	4.344	2.404

	Earnings Per Share (Rs.)		3.28	2.55	4.81

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015 (Provisional)	31.03.2014	31.03.2013
Current Maturities of Long term debt	0.000	0.794	2.240

Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015 (Provisional)	31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	3.50	3.24	3.87

Operating Profit Margin (PBDIT/Sales)	(%)	7.13	6.58	8.35

Return on Total Assets (PBT/Total Assets}	(%)	9.26	6.42	8.12

Return on Investment (ROI) (PBT/Networth)		0.24	0.19	0.19

Debt Equity Ratio (Total Debt/Networth)		1.11	1.18	0.43

Current Ratio (Current Asset/Current Liability)		1.58	1.43	1.55

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	5.000	17.000	27.000
Reserves & Surplus	12.846	17.190	26.048
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	17.846	34.190	53.048

Long-term borrowings	0.429	0.762	1.975
Short term borrowings	4.958	38.843	57.082
CURRENT MATURITIES OF LONG-TERM DEBTS	2.240	0.794	0.000
Total borrowings	7.627	40.399	59.057
Debt/Equity ratio	0.427	1.182	1.113

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	62.130	133.954	253.073
		115.603	88.925

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	62.130	133.954	253.073
Profit	2.404	4.344	8.858
	3.87%	3.24%	3.50%

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	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
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	Yes
19	Major customers	Yes
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	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

------------------------------------------------------------------------------------------------------------------------------

UNSECURED LOANS

(RS. IN MILLION)

PARTICULARS	31.03.2015 (Provisional)
SHORT TERM BORROWINGS
Others	13.617

Total	13.617

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF TOTAL INCOME

(RS. IN MILLION)

PARTICULARS	31.03.2015

Income from Business or Profession (Chapter IV D)			6.252
Profit as per Profit and Loss Account		6.477
Add: Depreciation debited in Profit and Loss Account		0.523
Sales Tax		0.424
		-----------
Total		7.424
Less:
Interest of Banks	0.423
Depreciation as per Chart u/s 32	0.749
		1.172
		-----------
		6.252

Income from Other Sources (Chapter IV F)			0.423

Interest		0.423
		-----------	-----------
Gross Total Income			6.675
			-----------
Total Income			6.675
Round off u/s 288A			6.675

Calculation for MAT			6.477

Profit as per Part II and III of Schedule VI		4.344
Add:
Income Tax u/s 40 (a)(ii)		2.063
Deferred Tax Liability		0.070
		-----------
Total		6.477

Tax calculated @ 18.5% on Book Profit is Rs. 1.198 Million

Tax Due		2.003
Educational Cess		0.060
		-----------
		2.063
T.D.S.		2.654
		-----------
		(0.594)
Refundable (Round off u/s 288B)		0.594

------------------------------------------------------------------------------------------------------------------------------

MRS. SAILAJA GURIJALA

COMPUTATION OF TOTAL INCOME

(RS. IN MILLION)

PARTICULARS	31.03.2014

Income from Salary (Chapter IV A)			1.175

SHILPA ELECTRICAL ENGINEERS (INDIA) PRIVATE LIMITED
2 Floor, Sony Business Complex, IDA Kukatpally Prashanthi Nagar, Hyderabad, Telangana
Salary		1.175
Transport Allowance Received		0.010
Medical Allowance		0.015
		------------
		1.200

Less:
Transport Allowance Exempt	0.010
Medical Allowance Exempt	0.015
	------------	0.025
		------------
		1.175

Income from House Property (Chapter IV C)			0.530

Jayasudha Heights, Ayyappa Societies Madhaputr Hyderabad (Telangana)
Annual Lettable Value 970597
Rent Receivable
Higher of above	0.971

Annual Rental Value u/s 23
Less:
Deduction u/s 24 (a)	0.291

		0.680
Self Occupied Property
My Home NavaDeepa Apartments Madhapur Hitech City Hyderabad
Interest u/s 24(b) (523553)		(0.150)
		------------

Income from Business or Profession (Chapter IV D)			0.150

From Firm Sai Shilpa Associates (50.00% Share)
Remuneration		0.150
Interest		0.000
		------------
		0.150

Gross Total Income			1.855

Less: Deductions (Chapter VI A)
u/s 80C
LLP	0.100
		0.100
		------------	0.100
			------------
Total Income			1.755
Round off u/s 288A			1.755
Income Exempt u/s 10			0.059

Tax Due (Exemption Limit Rs. 0.200 Million)		0.356
Educational Cess		0.011
		0.367
T.D.S.		0.254
		0.113
Interest u/s 234 A/B/C		0.018
		0.131
Deposit u/s 140A		0.131

Tax Payable		0.000

------------------------------------------------------------------------------------------------------------------------------

SHILPA ELECTRICAL ENGINEERS

BALANCE SHEET

(RS. IN MILLION)

SOURCES OF FUNDS		31.03.2013
SHAREHOLDERS FUNDS
1] Capital		0.150
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.150
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		3.565
TOTAL BORROWING		3.565
DEFERRED TAX LIABILITIES		0.000

TOTAL		3.715

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		1.135
Capital work-in-progress		0.000

INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	2.270
	Cash & Bank Balances	0.058
	Other Current Assets	0.309
	Loans & Advances	0.000
Total Current Assets		2.637
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.057
Total Current Liabilities		0.057
Net Current Assets		2.580

MISCELLANEOUS EXPENSES		0.000

TOTAL		3.715

------------------------------------------------------------------------------------------------------------------------------

SHILPA ELECTRICAL ENGINEERS

TRADING ACCOUNT

(RS. IN MILLION)

Particulars	31.03.2013	Particulars	31.03.2013
To Direct Material	13.498	By Gross Receipts	21.996
To Direct Labour	4.641
To Direct Expenses	1.910

To Gross Profit	1.947

Total	21.996	Total	21.996

PROFIT & LOSS ACCOUNT

(RS. IN MILLION)

Particulars	31.03.2013	Particulars	31.03.2013
To Salaries and Wages	0.925	By Gross Profit	1.947
To Telephone Expenses	0.054
To Printing and Stationery	0.124
To Office Expenses	0.355
To Workmen and Staff Welfare Expenses	0.133
To Depreciation	0.200

To Net Profit	0.156

Total	1.947	Total	1.947

------------------------------------------------------------------------------------------------------------------------------

CREDIT FACILITIES

(RS. IN MILLION)

NATURE OF FACILITIES	EXISTING LIMIT	PROPOSED LIMIT

Fund Based:
Cash Credit Limit – I (Regular)	20.000	20.000
(Hypothecation of Stocks and Book Debts)

Project Specific Cash Credit Limit – II	--	15.000
(Hypothecation of Stocks and Book Debts)

Non Fund Based:
Bank Guarantee Limit – I (Regular)	30.000	20.000
Project Specific BG Limit – II	--	20.000
Project Specific ILC Limit	--	15.000

Total Exposure	50.000	90.000

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLION)

SR. NO.		PARTICULARS	2016 Estimated	2017 Projections

1.		Gross Sales
	i.	Domestic Sales	405.000	648.000
	ii.	Export Sales	--	--

		Total	405.000	648.000

2.		Less Excise Duty	--	--

3.		Net Sales (1 - 2)	405.000	648.000

4.		% age rise (+) or fall (-) in net sales as compared to previous year (annualised)	60.02%	60.00%

5.		Cost of Sales
	i.	Raw materials (including stores and other items used in the process of manufacture)	276.700	438.300
		a. Imported	--	--
		b. Indigenous	276.700	438.300

	ii.	Other Spares
		a. Imported	--	--
		b. Indigenous	--	--

	iii.	Power and Fuel	--	--

	iv.	Direct Labour (Factory wages & salaries)	21.300	33.700

	v.	Other manufacturing expenses	65.800	104.200

	vi.	Depreciation	0.900	1.000

	vii.	Sub-total (i to vi)	364.700	577.200

	viii.	Add: Opening Stock-in-process	21.000	40.100

		Sub-total (vii + viii)	385.700	617.300

	ix.	Deduct: Closing Stock-in-process	40.100	64.200

	x.	Cost of Production	345.600	553.100

	xi.	Add: Opening Stock of finished goods	--	--

		Sub-total (x + xi)	345.600	553.100

	xii.	Deduct: Closing Stock of finished goods	--	--

	xiii.	Sub-total (Total Cost of Sales)	345.600	553.100

6.		Selling, general and administrative expenses	16.100	24.200

7.		Sub-total (5 + 6)	361.700	577.300

8.		Operating Profit before Interest (3 - 7)	43.300	70.700

9.		Interest	13.900	22.200

10.		Operating Profit after Interest (8 - 9)	29.400	48.500

11.	i.	Add: Other non-operating Income
		a. Other Misc. Income	0.100	0.100
		b. Excess Provision of Income Tax	--	--
		c. Export Incentive	--	--
		d.	--	--

		Sub-total (Income)	0.100	0.100

	ii.	Deduct: Other non-operating expenses
		a. Misc. Expenses w/off	--	--
		b. Bad Debts Written off	--	--
		c. Prior Year Adjustment	--	--
		d. Deferred Tax	--	--

		Sub-total (Expenses)	--	--

	iii.	Net of other non-operating income / expenses [net of 11(i) & 11(ii)]	0.100	0.100

12.		Profit before tax/loss [10 + 11(iii)]	29.500	48.600

13.		Provision for taxes	8.900	14.700

14.		Net Profit / Loss (12 -13)	20.600	33.900

15.	a.	Equity dividend paid-amount	--	--
		(Already paid + B.S. provision)

	b.	Dividend Rate (% age)	--	--

16.		Retained Profit (14 - 15)	20.600	33.900

17.		Retained Profit / Net Profit (% age)	100.00%	100.00%

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLION)

SR. NO.		PARTICULARS	2016 Estimated	2017 Projections

		CURRENT LIABILITIES
1.		Short-term borrowing from banks (including bills purchased, discounted & excess borrowing placed on repayment basis)
	i.	From applicant bank	--	--
	ii.	From other banks	80.000	80.000
	iii.	(of which BP & BD)	--	--

		Sub-total [i + ii] (A)	80.000	80.000

2.		Short term borrowings from others	--	--

3.		Sundry Creditors (Trade)	22.100	35.000

4.		Advance payments from customers / deposits from dealers	64.000	69.400

5.		Provision for taxation	18.000	24.200

6.		Dividend payable	--	--

7.		Other statutory liabilities (due within 1 year)	--	--

8.		Deposits / instalments of term loans / DPGs / debentures etc. (due within 1 year)	--	--

9.		Other current liabilities & provisions (due within 1 year) - specify major items	12.000	25.000
	a.	Interest Accrued & Due	--	--
	b.	Sundry Creditors for Exp. & Capital	--	--
	c.	Interest Accrued but not Due	--	--
	d.	Others	12.000	25.000

		Subtotal [2 to 9] (B)	116.100	153.600

10.		TOTAL CURRENT LIABILITIES [A + B]	196.100	233.600

		TERM LIABILITIES
11.		Debentures (not maturing within 1 year)	--	--

12.		Preference Shares (redeemable after 1 year)	--	--

13.		Term loans (excluding instalments payable within 1 year)	--	--

14.		Deferred Payment Credits (excluding instalments due within 1 year)	--	--

15.		Term deposits (repayable after 1 year)	--	--

16.		Other term liabilities-USL	7.000	46.300

17.		Total Term Liabilities [11 to 16]	7.000	46.300

18.		Total Outside Liabilities [10 + 17]	203.100	279.900

		NET WORTH
19.		Ordinary Share Capital	35.000	35.000

20.		General Reserve	--	--

21.		Revaluation Reserve	--	--

22.		Other Reserves (excluding Provisions)	--	--

23.		Surplus (+) or deficit (-) in Profit & Loss a/c	48.000	81.900

23.	a.	Deferred tax liability	0.500	0.500
		Share Premium	--	--
		Capital Redemption Reserve	--	--

24.		Net Worth	83.500	117.400

25.		TOTAL LIABILITIES [18 + 24]	286.600	39.700

		CURRENT ASSETS
26.		Cash and Bank Balances	5.000	5.000

27.		Investments (other than long term)
	i.	Govt. and other trustee securities	--	--

	ii.	Fixed Deposits with banks	22.000	22.000

28.	i.	Receivables other than deferred & exports (incldg. bills purchased and discounted by banks)	97.700	156.300

	ii.	Export receivables (incldg. bills purchased/discounted by banks)	--	--

29.		Instalments of deferred receivables (due within 1 year)	--	--

30.		Inventory:	63.200	100.700
	i.	Raw materials (including stores and other items used in the process of manufacture)
	a.	Imported	23.100	36.500
	b.	Indigenous	0.000	0.000

	ii.	Stocks-in-process	23.100	36.500

	iii.	Finished goods	40.100	64.200

	iv.	Other consumable spares	0.000	0.000
	a.	Imported	--	--
	b.	Indigenous	--	--

31.		Advances to suppliers of raw materials and stores/spares	44.000	45.000

32.		Advance payment of taxes	13.000	20.800

33.		Other current assets (specify major items)	33.700	39.300
	a.	Export Incentive Receivable	--	--
	b.	Prepaid Expenses	--	--
	c.	Excise Duty Receivable	--	--
	d.	Other Current Assets	33.700	39.300

34.		TOTAL CURRENT ASSETS (26 to 33)	278.600	389.100

		FIXED ASSETS
35.		Gross Block (land, building, machinery, work-in-progress)	11.600	12.800

36.		Depreciation to date	3.600	4.600

37.		Net Block (35 - 36)	8.000	8.200

		OTHER NON-CURRENT ASSETS
38.		Investments/book debts/ advances/ deposits which are not current assets	0.000	0.000
	i. a.	Investments in subsidiary companies / affiliates	--	--
	b.	Others	--	--

	ii.	Advances to suppliers of capital goods and contractors	--	--

	iii.	Deferred receivables (maturity exceeding 1 year)	--	--

	iv.	Others	0.000	0.000
	a.	Security Deposits	0.000	0.000
	b.	Un-accrued financial charges	0.000	0.000
	c.	Other NCA	0.000	0.000
	d.	Drs > 180 days	--	--

39.		Non-consumable stores and spares	--	--

40.		Other non-current assets including dues from directors	0.000	0.000

41.		Total Other Non-current Assets (38 to 40)	0.000	0.000

42.		Intangible Assets (patents, good will, prelim. expenses, bad / doubtful debts not provided for, etc.	--	--

43.		Total Assets (34+37+41+42)	286.600	397.300

44.		Tangible Net Worth (24 - 42)	83.500	117.400

45.		Net Working Capital (34 - 10)	82.500	155.500

46.		Current Ratio (34 / 10)	1.42	1.67

47.		Total Outside Liabilities / Tangible Net Worth (18 / 44)	2.43	2.38

48.		Total Term Liabilities / Tangible Net Worth (17 / 44)	0.08	0.39

		ADDITIONAL INFORMATION
A.		Arrears of depreciation
B.		Contingent Liabilities:
	i.	Arrears of cumulative dividends	NA	NA
	ii.	Gratuity liability not provided for	NA	NA
	iii.	Disputed excise / customs / tax liabilities	NA	NA
	iv.	Other liabilities not provided for	NA	NA

------------------------------------------------------------------------------------------------------------------------------

FUND FLOW STATEMENT

(RS. IN MILLION)

SR. NO.		PARTICULARS	2016 Estimated	2017 Projections

1.		SOURCES
	a.	Net Profit	20.600	33.900

	b.	Depreciation	0.900	1.000

	c.	Increase in Capital	8.000	0.000

	d.	Increase in Term Liabilities (including Public Deposits)	1.100	39.300

	e.	Decrease in
	i.	Fixed Assets	--	--
	ii.	Other non-current Assets	--	--

	f.	Others	0.000	0.000

	g.	TOTAL	30.600	74.200

2.		USES
	a.	Net loss	--	--

	b.	Decrease in Term Liabilities (including Public Deposits)	--	--

	c.	Increase in
	i.	Fixed Assets	0.600	1.200
	ii.	Other non-current Assets	0.000	0.000

	d.	Dividend Payments	0.000	0.000

	e.	Others	--	--

	f.	TOTAL	0.600	1.200

3.		Long Term Surplus (+) / Deficit (-) [1-2]	30.000	73.000

4.		Increase/decrease in current assets * (as per details given below)	149.600	110.500

5.		Increase/decrease in current liabilities other than bank borrowings	83.000	37.500

6.		Increase/decrease in working capital gap	66.600	73.000

7.		Net Surplus / Deficit (-) [3-6]	(36.600)	0.000

8.		Increase/decrease in bank borrowings	36.600	0.000

9.		Increase/decrease in NET SALES	151.900	243.000

		* Break up of item-4
i.		Increase/decrease in Raw Materials	23.100	13.400

ii.		Increase/decrease in Stocks-in-Process	19.100	24.100

iii.		Increase/decrease in Finished Goods	0.000	0.000

iv.		Increase/decrease in Receivables
	a)	Domestic	31.000	58.600
	b)	Export	0.000	0.000

v.		Increase/decrease in Stores & Spares	0.000	0.000

vi.		Increase/decrease in other current assets	76.400	14.400

		TOTAL	149.600	110.500

------------------------------------------------------------------------------------------------------------------------------

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLION)

SR. NO.		PARTICULARS	2016 Estimated	2017 Projections
		A. CURRENT ASSETS
1.		Raw materials (incl. stores & other items used in the process of manufacture)
	a.	Imported	0.000	0.000
		Month's Consumption	--	--

	b.	Indigenous	23.100	36.500
		Month's Consumption	1.00	1.00

2.		Other Consumable spares, excluding those included in 1 above
	a.	Imported	0.000	0.000
		Month's Consumption	0.00	0.00

	b.	Indigenous	0.000	0.000
		Month's Consumption	--	--

3.		Stock-in-process	40.100	64.200
		Month's cost of production	1.39	1.39

4.		Finished goods	0.000	0.000
		Month's cost of sales	--	--

5.		Receivables other than export & deferred receivables (incl. bills purchased & discounted by bankers)	97.700	156.300
		Month's domestic sales: excluding deferred payment sales	2.89	2.89

6.		Export receivables (incl. bills purchased and discounted)	0.000	0.000
		Month's export sales	--	--

7.		Advances to suppliers of raw materials & stores / spares, consumables	44.000	45.000

8.		Other current assets incl. cash & bank balances & deferred receivables due within one year	73.700	87.100
		Cash and Bank Balances	5.000	5.000

		Investments (other than long term):
	i.	Govt. and other trustee securities	0.000	0.000
	ii.	Fixed Deposits with banks	22.000	22.000

		Instalments of deferred receivables (due within 1 year)	0.000	0.000

		Advance payment of taxes	13.000	20.800
		Other current assets	33.700	39.300

9.		TOTAL CURRENT ASSETS (To agree with item 34 in Form III)	278.600	389.100

		B. CURRENT LIABILITIES
		(Other than bank borrowings for working capital)
10.		Creditors for purchase of raw materials, stores & consumable spares	22.100	35.000
		Month's purchases	0.88	0.93

11.		Advances from customers	64.000	69.400

12.		Statutory liabilities	0.000	0.000

13.		Other current liabilities:	30.000	49.200
		Short term borrowings from others	0.000	0.000
		Provision for taxation	18.000	24.200
		Dividend payable	0.000	0.000
		Deposits / instalments of term loans / DPGs/ debentures etc. (due within 1 year)	0.000	0.000

		Other current liabilities & provisions (due within 1 year)	12.000	25.000

14.		Total (To agree with total B of Form-III)	116.100	153.600

------------------------------------------------------------------------------------------------------------------------------

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLION)

SR. NO.	PARTICULARS	2016 Estimated	2017 Projections

	FIRST METHOD OF LENDING
1.	Total Current Assets (Form-IV-9)	278.600	389.100

2.	Other Current Liabilities (other than bank borrowings (Form-IV-14)	116.100	153.600

3.	Working Capital Gap (WCG) (1-2)	162.500	235.200

4.	Min. stipulated net working capital: (25% of WCG excluding export receivables)	40.600	58.900

5.	Actual / Projected net working capital (Form-III-45)	82.500	155.500

6.	Item-3 minus Item-4	121.900	176.600

7.	Item-3 minus Item-5	80.000	80.000

8.	Max. permissible bank finance(item-6 or 7, whichever is lower)	80.000	80.000

9.	Excess borrowings representing shortfall in NWC (4 - 5)	--	--

	SECOND METHOD OF LENDING
1.	Total Current Assets (Form-IV-9)	278.600	389.100

2.	Other Current Liabilities (other than bank borrowings (Form-IV-14)	116.100	153.600

3.	Working Capital Gap (WCG) (1-2)	162.500	235.500

4.	Min. stipulated net working capital: (25% of total Current Assets excluding export receivables)	69.700	97.300

5.	Actual / Projected net working capital (Form-III-45)	82.500	155.500

6.	Item-3 minus Item-4	92.900	138.200

7.	Item-3 minus Item-5	80.000	80.000

8.	Max. permissible bank finance (item-6 or 7, whichever is lower)	80.000	80.000

9.	Excess borrowings representing shortfall in NWC (4 - 5)	--	--

------------------------------------------------------------------------------------------------------------------------------

KEY INDICATORS

(RS. IN MILLION)

SR. NO.	PARTICULARS	2016 Estimated	2017 Projections

1	Net Sales	405.000	648.000

2	P B T	29.500	48.600

3	P A T	20.600	33.900

4	Net Cash Accruals	21.500	34.900

5	P B T/ Net Sales (%)	7.28%	7.50%

6	P A T/ Net Sales (%)	5.09%	5.23%

7	Dividend/PAT (%)	0.00	0.00

8	Gross Block	11.600	12.800

9	Net Block	8.000	8.200

10	Paid up Capital	35.000	35.000

11	Tangible Networth (TNW)	83.500	117.400

12	Group Investments	0.000	0.000

13	Adjusted T N W	83.500	117.400

14	L T D / T N W	0.08	0.39

15	D F S / T N W	0.96	0.68

16	T O L / T N W	2.43	2.38

17	Current Assets	278.600	389.100

18	Current Liabilities	196.100	233.600

19	Net Working Capital	82.500	155.500

20	Current Ratio	1.42	1.67

	Other Indicators
21	R O C E (%)	25.40%	29.01%

22	Interest Coverage Ratio	3.18	3.23

23	DSCR	2.39	3.23

	Fund Flow Analysis
	Long Term Sources	30.600	74.200

	Long Term uses	0.600	1.200

	Surplus/Deficit	30.000	73.000

	Surplus / Incremental build up of current assets (%)	115.97%	39.66%

------------------------------------------------------------------------------------------------------------------------------

PROFILE

ORDERS EXECUTED

Sr. No.	Name of the Client	Place of work	Product	Completion Period

1	APTRANSCO	PALAMAKULA	132/33KV SS and 132 KV Line (26 KM)	2013-14

2	APTRANSCO	PARIGI	220/132KV SUBSTATION and 220KV Line (23KM)	2013-14

3	Tech Mahindra	Bhubaneswar	33KV Bay Extension and Cabling Works	2013-14

4	VTPS (Sri Srinivasa Enterprises)	Vijayawada	132KV Line	2004

5	AP Transco (Vertex Engineers)	Kodada	132KV Line	2006

6	Lanco Hills	Manikonda	11KV Cable Laying	2013-14

7	Container Corporation India	Vizag	HT Works and High mast	2013-14

8	Ramky Towers Limited	Hyderabad	33KV Cable Laying and Bay Extension Works	2010 and 2011

9	APCPDCL – Master Plan	Hyderabad	33/11KV Indoor SS and 30 KM of Cabling	2010-11

10	Ramky Estates and Farms Limited (Shriram Capital)	Hyderabad	33KV Cable Laying Works	2010 and 2011

11	DLF Commercial Developers Limited	Hyderabad	33KV Cable Laying 20 KM and substation works	2010 and 2011

12	Bhel	Vikasnagar	R&D	2000

13	National Mineral Development	Hyderabad	R&D	2000

GOVERNMENT WORKS

1	APTS	Hyderabad	TV Channel	2002

2	INCOIS	Hyderabad	R&D	2002

3	UNICEF	Hyderabad	--	2002

4	CDAC	Hyderabad	Computer	2002

5	National Mineral Development	Hyderabad	R&D	2000

6	BHEL	RC Puram	Factory	2000

7	APHB	Kukatpally	Commercial	2003

8	APHB	Kukatpally	Commercial	2003

9	University of Hyderabad	Gachibowli	Labs	2004

10	APCPDCL Hyderabad	Hyderabad	Central Circle	2006

11	Center for Economic and Social Studies	Begumpet	Research Inst.	2006

12	ARC International (DRDL)	Hyderabad	Defense	2009

13	Container Corporation of India Limited	Nagulapally	Containers	2010

MACHINERY AND EQUIPMENTS

List of major equipments machinery, testing instruments, tools and tackles in Possession of the firm (To be deployed on work):

1) HT Insulation Tester – 5 KV – 1 No

2) LT Insulation Tester – 500 V – 1 No

3) Earth Tester – 1 No

4) Crimping Tools – 3 Nos

5) Bosch Drilling Machines – 5 Nos

6) Hemair Drilling Machines – 4 Nos

7) Krone Tool Kit – 2 Nos (D-Spanner, Ring Spanner 5-40 Nos each)

8) Mobile Welding Machines – 2 Nos

9) Tools for making HT and LT Cable Termination Kits

10) Tools for wiring items

11) Jacks for cable laying (All voltage levels)

------------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

VALUATION REPORT IN RESPECT OF IMMOVABLE PROPERTY (LAND AND BUILDING)

(GENERAL DETAILS)

Date of Inspection

06.06.2013

Date of Valuation

07.06.2013

Purpose of Valuation

Bank Security

PROPERTY DETAILS

Name of the Owner(s)/ Address

Mr. G. Sudhakar Reddy s/o G. Nagi Reddy

H. No. 2-51/C, Jayaprakashnagar, Bharathnagar Colony, Hyderabad

Contact person and no. if any

Location of property

1) Plot No. / Survey No.

2) Door No.

3) T.S. No. / Ward No.

4) Street Name / Village

5) Place and District

Plot No. 32, Sy. No. 17

H. No. 2-50

J. P. Nagar, Moosapet Village,

Balanagar Mandal, Kukatpally Municipality, Ranga Reddy District.

Brief description of the property

The Subject Property situated near to Moosapet Church. All amenities available like schools, colleges, market places etc.

Landmark of the property

Near to Moosapet Church

Dimensions of the site

North

South

East

West

50’-00”

36’-8”

Boundaries of the property

North

South

East

West

As per Document and Actual

House No. Plot No. 31

House No. Plot No. 33

House No. Plot No. 29

20’ wide Road

Description of the locality Residential/ Commercial/ Mixed

Residential

Classification of the property

Medium

Type of the use to which it can be put

Residential

Occupation of the building whether vacant/ occupied by owner/ tenant

Occupied by owner

General remarks, if any

VALUATION OF THE PROPERTY

PART 1 (LAND)

Dimensions of the plot

50’-00” x 36’-8”

Extent of site

Please indicate road effective widening if any

200 Sq. Yds.

20 Sq. yds. Road Effective Area

Total area of the plot considered for valuation

180 Sq. Yds.

Prevailing market rate

Rs. 30000/- to Rs. 35000/- per Sq. yds.

Guideline rate obtained from the Registrar Office and value

Assessed / adopted rate of valuation

Rs. 32000/- per Sq. yds.

Estimated value of the land

180 Sq. yds. @ Rs. 32000/- per Sq. yds.

Rs. 5.760 Million

PART 2 (STRUCTURE)

Type of building

[Residential/ Commercial/ Industrial]

Residential

Year of construction

2007

Age of property

Residual life of the property

54 years

No. of floors and height of each floor

Ground + 2 Floor [As per Plan]

Ground + 3 Upper Floors [As per Actual]

10’height in each floor

Plinth area in each floor/ flat area

As per Plan

G.F.	540 Sq. ft.
F.F.	540 Sq. ft.
S.F.	540 Sq. ft.
Total	1620 Sq. ft.

As per Actual

G.F.	1079.04 Sq. ft.
F.F.	1079.04 Sq. ft.
S.F.	1079.04 Sq. ft.
T.F.	1079.04 Sq. ft.
Total	4316.16 Sq. ft.

Type of structure

(RCC/ Load Bearing/ Steel Framed)

RCC

Appearance and Maintenance of the building

Good

SPECIFICATION OF CONSTRUCTION

Sr. No.	Particulars	Ground Floor	2 Upper Floor
A	Foundation	Isolated Column Footings	--
B	Basement	R.R.	--
C	Superstructure	Brick Work	Brick Work
D	Joinery/ Doors and Windows	C.T. Wood	C.T. Wood
E	RCC Work	Footings, Columns, Beams, Roof Slab	Footings, Columns, Beams, Roof Slab
F	Plastering	Cement Mortar	Cement Mortar
G	Flooring	Marble Flooring	Marble Flooring

DETAILS OF VALUATION

Floors	Plinth area	Estimated Replacement Cost	Net Value

Ground + 2 Upper Floor	1620 Sq. ft.	1620 Sq. ft. @ Rs. 1100/-	Rs. 1.782 Million

TOTAL ABSTRACT VALUATION OF THE ENTIRE PROPERTY

Part 1	Land	Rs. 5.760 Million

Part 2	RCC Structure	Rs. 1.782 Million

Part 3	Extra Items	--
	Amenities and Services	--

	Total	Rs. 7.542 Million

Fair Market Value of the Property	Rs. 7.542 Million

Distress sale value of the Property	Rs. 6.034 Million

Rental value of the Property	Rs. 25000/- per month (Approx.)

------------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

VALUATION REPORT IN RESPECT OF IMMOVABLE PROPERTY (COMMERCIAL SPACE)

(GENERAL DETAILS)

Date of Inspection

15.06.2013

Date of Valuation

16.06.2013

Purpose of Valuation

Present Asset Value

PROPERTY DETAILS

Name of the Owner(s)/ Address

Shilpa Electrical Engineers (India) Private Limited

Mr. G. Sudhakar Reddy s/o Mr. G. Nagi Reddy

2-51/C, Plot No. 33, J.P. Nagar, Bharathnagar Colony, Hyderabad.

Is the property is under single / Joint Ownership

Single

Brief description of the property

The subject property situated at Kukatpally Village and Circle, Balanagar Mandal and within the surrounding transport and Communication to part of the Hyderabad city.

Location of property

1) Plot No.

2) Door No. / Survey No.

3) Commercial Space No.

4) Ward and Village

5) Street Name / Village

6) Place and District

Commercial Space No. 26, in Ground Floor, “Soni Complex”

Sy. No. 404

Block No. 5

Kukatpally Village and Circle

Balanagar Mandal

R.R. District

Is the property situated at Residential/ Commercial/ Mixed or Industrial area

Commercial

Classification of the area

1) High/ Middle/ Poor

2) Metro/ Urban/ Semi Urban/ Rural

Middle

Metro

Coming under Corporation limit/ Municipality/ Village Panchayat

Municipality

Whether covered under any State / Central Government enactments (i.e. Urban Land Ceiling Act) or notified under agency area/ scheduled area/ cantonment area or for specific purpose

In case it is an agricultural land, any conversion to house site plots is contemplated

Boundaries of the site

North

South

East

West

As per Physical Verification

20’ wide Road

Sy. No. 404 Part (Open Plot)

Nala

100’ wide road

Boundaries of the Commercial Space no. 26 in Ground Floor

North

South

East

West

Common Door

Commercial Space No. 25

Nala

Duct

Size of plot

11.5 Sq. yds. UDS (Out of 1408.94 Sq. yds.)

Considered for Valuation (Undivided Share)

11.5 Sq. yds. UDS (Out of 1408.94 Sq. yds.)

Whether occupied by the owner/ tenant? If occupied by tenant since how long? And rent received per month

Occupied by Owners

APARTMENT BUILDING

Nature of the Apartment

· Location

· Door No.

· Commercial Space No.

· Street Name

· Place and District

“Soni Complex”

Kukatpally Village

Commercial Space No. 26, in Ground Floor, “Soni Complex”

Kukatpally Village

Kukatpally Village and Circle, Balanagar Mandal, R.R. District

Description of the locality

Commercial

Year of construction

1997

Approved Plan Proceeding No.: BA/G1/253/94, Dated 30.12.1995

Age of Building

16 Years

Life of the building estimated

49 Years

Type of structure

RCC framed structure

Number of floors

Ground + 3 Upper Floors [As per Actual]

Quality of construction

Good

Appearance of the Building

Good

Maintenance of the Building

Good

Floor area in each floor

Deviation

Facilities available

Lift

Protected Water Supply

Underground Sewerage

Car Parking – Open/Covered

Is compound wall existing the building?

Yes

COMMERCIAL SPACE

The floor in which the Commercial Space is situated

Commercial Space No. 26, in Ground Floor, “Soni Complex”

Door No.

Specification of the Commercial Space

Roof

RCC

Flooring

CC Flooring

Doors and Windows

Rolling Shutters

Fittings

How is the maintenance of the Commercial Space

Good

Registered Sale Deed executed in the name of

Shilpa Electrical Engineers (India) Private Limited

Mr. G. Sudhakar Reddy s/o Mr. G. Nagi Reddy

What is the undivided area of land as per Sale Deed?

11.5 Sq. yds. UDS (out of 1408.94 Sq. yds.)

What is the Plinth area of the Commercial Space

324 Sq. ft. (Including Common areas)

What is the floor space index (Approx)

What is the carpet area of the Commercial Space (Approx)

275 Sq. ft.

Is it posh / I Class / Medium/ Ordinary

Middle

Is it being used for Residential or Commercial purpose?

Commercial Space

Is it owner occupied or let out

Occupied by Owners

If tenant, what is the monthly rent

Rs. 25000/- per Month

MARKETABILITY

How is the marketability

Good

What are the factors favouring for an extra potential value

The Subject Property situated at Kukatpally Village and Circle, Balanagar Mandal and within the surrounding, transport and communication to part of the Hyderabad city.

Any negative factors are observed which affect the market value in general?

Total composite rate arrived for valuation

Building Rate

Rate for land and other

Total Composite rate

Included in Composite Rate

Rs. 1.944 Million

Sr. No.	Description	Qty	Estimated value after Depreciation	Net Value of Property

1	Value of Residential Space	324 Sq. ft.	Rs. 6000/- per Sq. ft.	Rs. 1.944 Million

Distress sale value of the property

Rs. 1.555 Million [80% of above value]

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VALUATION REPORT

VALUATION REPORT IN RESPECT OF IMMOVABLE PROPERTY

(GENERAL DETAILS)

Date of Inspection :

04.08.2011

Date of Valuation :

08.08.2011

Purpose of Valuation :

For the information of Bank

List of Documents Produced :

Copy of sale Deed vide Document No. 11193/2002, dated 31.12.2002, of Sub Registrar – Medchal, in favour of Mrs. G. Sailaja.

Fair Market Value of the Property :

Rs. 6.000 Million

Distress Sale List Value of the Property :

85% of the fair Market Value

i.e. Rs. 5.100 Million

PROPERTY DETAILS

Name of the Owner (S) :

Mrs. G. Sailaja (W/o. Mr. G. Sudhakar Reddy)

Contact person and no. if any :

----

Location of the Property :

Plot No. 289, in Sy.No.307/E/13 (New No. 307/2/13, situated at Mithila Nagar, Phase-I, Gajularmaram village, Quthbullapur Mandal, R.R. District, Andhra Pradesh

Brief Description of the property :

Open plot property with an extent of 500 Sq. yds

Land Mark of the Property :

Behind Pragathi Nagar

Dimensions of the Site

North :

South :

East :

West :

60’-0” x 75’-0”

Boundaries of the Property :

North :

South :

East :

West :

As per Deed	Actual
Plot No. 290	Plot no. 290
40’-0” wide Road	40’-0” wide Road
Plot No. 288	Plot No. 288
60’-0” wide Road	60’-0” wide Road

Description of the Locality

Residential /Commercial/Mixed :

Residential

Classification of the Property :

Posh/ I Class/ Medium

Medium

Proximity of civic amenities :

Available within 2 Kms distance

Type of use to which it can be put(for construction of house, factory etc.)

For construction of house

Occupation of the Building Whether vacant/ occupied by owned/ tenant

Open land

SUMMARY OF VALUATION

Part I Land	Rs. 6.000 Million

Part II Finished Flat	0.000

Part III Other Amenities/Misc.	0.000

Total Value of the property	Rs. 6.000 Million

METHOD OF VALUATION :

The fair market value of the subject property is evaluated by adopting prevailing market rates of lands in this vicinity. As per local enquiries the prevailing market rating from Rs. 11,000/- Sq. yd to Rs. 13,000/- Sq. yd. As the subject plot is corner plot, considering the location, etc., taking an average rate of Rs. 12,000/- Sq.yd is considered reasonable and adopted in this Valuation.

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VALUATION REPORT

VALUATION REPORT IN RESPECT OF IMMOVABLE PROPERTY

(GENERAL DETAILS)

Date of Inspection :

04.08.2011

Date of Valuation :

08.08.2011

Purpose of Valuation :

For the information of Bank

List of Documents Produced :

1. Copy of Registered Sale Deed vide Document No. 2464/06, dated 13.03.2006, of Sub Registrar – Kukatpally, in favour of Mrs. G. Sailaja.

2. Copy of Sanction plan vide Permit No. BA/ G1/ 253/ 94, dated 30.12.1995, issued by Kukatpally Municipality, for Cellar, Ground + Upper Three Floors

Fair Market Value of the Property :

Rs. 6.607 Million

Distress Sale List Value of the Property :

85% of the Fair Market Value

i.e. Rs. 5.616 Million

PROPERTY DETAILS

Name of the Owner (S) :

Mrs. Gurijala Sailaja (W/o. Mr. G. Sudhakar Reddy)

Contact person and no. if any :

----

Brief Description of the property :

Commercial Office space property with a super built up area of 2,753 Sft

Dimensions of the Site

North :

South :

East :

West :

---

Location of the Property :

Office space bearing Nos. 3 and 20, in Second Floor of Soni Complex, in Sy. No. 404, situated at Prashanthnagar, Kukatpally Village, Balanagar Mandal, Kukatpally Municipality, R.R. District, Andhra Pradesh

Land Mark of the Property :

Near Narayana College, Opp. Road to APSRTC building

Boundaries of the Property :

North :

South :

East :

West :

As per Deed	Actual
4’-0” wide Corridor	4’-0” wide Corridor
Office No. 5	Office No. 5
5’-0” wide passage	5’-0” wide passage
Balcony	Balcony

SPECIFICATION OF CONSTRUCTION

Foundation

RCC Footings under Columns and CRS Masonry under panel walls.

Basement

CRS Masonry in CM

Superstructure

Brick Masonry in CM

Joinery/ Doors and Windows

Rolling shutters

RCC Work Plastering

Columns, Beams and Slab

Plastering

In CM

Flooring

Ceramic tiles

Any special finishing

----

DETAILS OF VALUATION

Floors	Plinth area	Estimated replacement rate	Replacement cost (Rs.)	Depreciation	Net Value (Rs.)
Subject Office space	2753 Sq. ft.	Rs. 2,400/- Sq. ft including UDL	Rs. 6.607 Million	---	Rs. 6.607 Million

TOTAL					Rs. 6.607 Million

SUMMARY OF VALUATION

Part I Land	Rs. 6.000 Million

Part II Finished Flat	0.000

Part III Other Amenities/Misc.	0.000

Total Value of the property	Rs. 6.000 Million

METHOD OF VALUATION :

The subject property is evaluated by comparable sales method.

As per the local enquiries, the prevailing market rates of flats with similar specifications and similarly aged office space/ Shops are ranging from Rs. 2400/- Sq. ft to Rs. 2500/- Sq. ft including undivided share of land. Considering the location, age, specifications, taking a conservative view, a lower rate of Rs. 2400/- Sq. ft including undivided share of land is considered reasonable and adopted for the Valuation.

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VALUATION REPORT

VALUATION REPORT IN RESPECT OF IMMOVABLE PROPERTY (VACANT SITE)

(GENERAL DETAILS)

Date of Inspection :

06.06.2013

Date of Valuation :

07.06.2013

Purpose of Valuation :

For bank information (Present Asset Value)

List of Documents for Perusal :

Xerox Copy of Sale Deed Doc No. 960/2003, Dated : 28.02.2003

PROPERTY DETAILS

Name of the Owner (S) and Address :

Mr. G. Sudhakar Reddy S/o G. NAgi Reddy

R/o H. No. 16-11-511/C/43, Pratap Nagar Colony, Dilsukhnagar, Hyderabad

Name of the Borrower :

Mr. G. Sudhakar Reddy S/o Mr. G. Nagi Reddy

Location of the Property :

H- No./ Survey No

Plot No.

T.S No./ Block Noand Village

Stree Name and Mandal

Place and District

Survey No. 18/AA, 18/UU, 18/U, 23/AA, 23/ EE and 23/U

Plot No. 33

Bandlaguda Village

Uppal Mandal

Ranga Reddy District

Brief description of the property :

The Subject Property Situated at “Bandlaguda Village, Near to Anathula Ram Reddy garden, Near to all civic amenities available. Like School, College, Banks, Financial Institutions, Commercial Complexes, Residential Colonies, Market Places, etc.

Land Mark of the Property :

Near to Anathula Ram Reddy Garden

Dimensions of the Site

North :

South :

East :

West :

55’-0”

35’-9”

Boundaries of the Property :

North :

South :

East :

West :

As Per Document and Actual

Neighbours land

Plot No. 32

Plot No. 15

40’ wide Road

Description of the Locality

Residential /Commercial/Mixed :

Residential

Classification of the Property :

Posh/ I Class/ Medium

Medium

Type of use to which it can be put

Residential

Occupation of the Building Whether vacant/ occupied by owned/ tenant :

Vacant Site

General remark, if any :

The Subject Property situated in Residential area Surrounded by Residential Complexes, Near to Anathula Ram Reddy Garden

VALUATION OF THE PROPERTY PART – 1 (LAND)

Dimensions of the plot :

Extent of site :

218 Sq Yds

Total area of the plot considered for valuation :

218 Sq Yds

Prevailing market rate :

Rs. 20,000/- to 25,000/- Per Sq Yds

Guide line rate obtained from the Registrar Office and value :

---

Assessed/ adopted rate of valuation :

Rs. 22,000/- Per Sq Yds

Estimated value of the land :

218 Sq Yds @ Rs. 22,000-00 per Sq Yds

= Rs. 4.796 Million

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VALUATION REPORT

VALUATION REPORT IN RESPECT OF IMMOVABLE PROPERTY (VACANT SITE)

(GENERAL DETAILS)

Date of Inspection :

06.06.2013

Date of Valuation :

07.06.2013

Purpose of Valuation :

For bank information (Present Asset Value)

List of Documents for Perusal :

Xerox Copy of Sale Deed Doc No. 5010/2003 Dated : 02.07.2003

PROPERTY DETAILS

Name of the Owner (S) and Address :

Mr. Gurijala Sudhakar Reddy S/o Mr. G. Nagi Reddy R/o H. No. 2750/C, J. P. Nagar Bharath Nagar Colony, Hyderabad

Name of the Borrower :

Mr. Gurijala Sudhakar Reddy S/o Mr. G. Nagi Reddy

Location of the Property :

H- No./ Survey No

Plot No.

T.S. No./ Block No and Village

Stree Name and Mandal

Place and District

Survey No. 1221

Plot No. 64/2

Shamirpet Village and Gram Panchayath

Shmirpet Mandal

Ranga Reddy District

Brief description of the property :

The Subject Property Situated at “Shamirpet Village, Near to Anathula Ram Reddy Garden, Near to all civic amenities available. Like School, College, Banks, Financial Institutions, Commercial Complexes, Residential Colonies, Market Places, etc.

Land Mark of the Property :

Near to Outer Ring Road

Dimensions of the Site

North :

South :

East :

West :

112’-6”

80’-0”

”

Boundaries of the Property :

North :

South :

East :

West :

As Per Document and Actual

Plot No. 64/3

Plot No. 64/1

Plot No. 63/2

Road

Description of the Locality

Residential /Commercial/Mixed :

Residential

Classification of the Property :

Posh/ I Class/ Medium

Medium

Type of use to which it can be put

Residential

Occupation of the Building Whether vacant/ occupied by owned/ tenant :

Vacant Site

General remark, if any :

The Subject Property situated in Residential area Surrounded by Residential Complexes, Near to Outer Ring Road

VALUATION OF THE PROPERTY PART 1 (LAND)

Dimensions of the plot

Extent of site

1000 Sq. yds.

Total area of the plot considered for valuation

1000 Sq. yds.

Prevailing market rate

Rs. 8000/- to Rs. 12000/- per sq. yds

Guideline rate obtained from the Registrar Office and value

Assessed / adopted rate of valuation

Rs. 10000/- per Sq. yds.

Estimated value of the land

1000 sq. yds. @ Rs. 10000/- per Sq. yds.

= Rs. 10.000 Million

TOTAL ABSTRACT VALUATION OF THE ENTIRE PROPERTY

Part 1	Land	Rs. 10.000 Million

Part 2	Building	0.000

Part 3	I) Miscellaneous II) Services	0.000 0.000

	Total	Rs. 10.000 Million

Fair market value of the property		Rs. 10.000 Million

Distress sale value of the property		Rs.80.000 Million

METHOD OF VALUATION :

As per the Local Enquiry, the Land rate in this locality Varies from Rs. 8,000/- to Rs. 12,000/- per sq. yds against the rate adopted in fair market Value analysis i.e. Rs. 10,000/- per sq. yds is reasonable. The subject property located in this property is situated at “Shamirpet Village, Near to Anathula Ram Reddy Garden, Near to all civic amenities available. Property well connected with main road. Heance sale ability is fair.

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INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10440866	12/02/2014 *	90,000,000.00	BANK OF BARODA	S R NAGR BRANCH,H NO:8-3-214/17, SRINIVASA NAGAR (WEST), SR NAGAR, HYDERABAD, ANDHRA PRADESH - 500038, INDIA	B96392279

* Date of charge modification

CORPORATE INFORMATION

The company was incorporated 29.08.2007. The main objectives of the company are to carry on the work of erection installation Fabrication commissioning of 33/11 KV (Kilo Volts) substations and Line works, Generator’s P.C.C’s (Printed Circuit Board), M.C.C’s (Miniature Circuit Breakers) Repair and Maintenance of Transformers. Transformers oil filtration and Testing, Power wiring Liason Work with C.E.I.G. (Chief Electrical Inspectorate for Government of Andhra Pradesh). To render / import consultancy services in the field of Electrical and Electronic Engineering and to arrange, take up and implement collaborations for the company’s related field of activities and repairing, reconditioning and Maintenance of all types of Electrical, Electronic items products, plant and machinery like Electronic transformers, switch gears and power supply systems.

FIXED ASSETS:

· Plant and Machinery

· Furniture and Fixture

· Vehicle

· Office Equipment

· Computers

· Godown

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. 63.90
UK Pound	1	Rs. 98.16
Euro	1	Rs. 69.74

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	RAS

Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.

MIRA INFORM REPORT

Unit