MIRA INFORM REPORT

Report No. :	349061
Report Date :	10.11.2015

IDENTIFICATION DETAILS

Name :	LOHIA CORP LIMITED (w.e.f. 07.03.2013)
Formerly Known As :	LOHIA STARLINGER LIMITED
Registered Office :	D-3/A, Panki Industrial Estate, Kanpur – 208022, Uttar Pradesh
Tel No.:	91-512-3045100/2691221
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	05.10.1981
Com. Reg. No.:	20-005446
Capital Investment / Paid-up Capital :	Rs. 49.540 Million
CIN No.: [Company Identification No.]	U29263UP1981PLC005446
IEC No.:	0688001351
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACL2470J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Machine for Plastic Bags
No. of Employees :	1800 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 9900000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of Lohia Group. It is a well-established company having fine track. The company has decent operational activity marked by year-on-year growth in its revenue along with profitability margin 7.75%. The rating reflects the company sound financial base, comfortable capital structure and healthy debt protection metrics. Trade relations are fair. Business is active. Payments are regular and as per commitment. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	AA- (Long Term Rating)
Rating Explanation	High degree of safety and very low credit risk.
Date	February, 2015

Rating Agency Name	CRISIL
Rating	A1+ (Short Term Rating)
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	February, 2015

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Atul Gupta
Designation :	Assistant Manager
Contact No.:	91-512-3045100
Date :	06.11.2015

LOCATIONS

Registered Office / Factory / Head Office :	D-3/A, Panki Industrial Estate, Kanpur – 208022, Uttar Pradesh, India
Tel. No.:	91-512-3045100/2691221
Fax No.:	91-512-2691249/3045299
E-Mail :	cs@lohiagroup.com sales@lohiagroup.com ahmedabad.lsl@lohiagroup.com bangalore.lsl@lohiagroup.com delhi.lsl@lohiagroup.com lsl@lohiagroup.com marketing.kolkata@lohiagroup.com
Website :	www.lohiagroup.com
Location :	Owned
Marketing Office :	544, 9^th Cross, 7^th Main Sadashiv Nagar, Bangalore – 560080, Karnataka, India
Export Sales:	218, Ansal Chambers II, Bhikaji Cama Place, New Delhi - 110066, India.
Tel. No.:	91-11-30641770
Fax No.:	91-11-30641771
Branch Office :	Located At: · Ahmedabad · Bengaluru · Delhi · Kolkata
Overseas Offices :	Located At: · Thailand · Indonesia · UAE · Brazil · USA

DIRECTORS

As on: 25.08.2014

Name :

Mr. Vinay Sah

Designation :

Managing Director

Address :

Anand Shubh Dham No.9, 7/213, Swaroop Nagar, Kanpur-208002, Uttar Pradesh, India

Date of Birth/Age :

23.05.1955

Date of Appointment :

01.01.2011

DIN No.:

00203790

PAN:

AETPS3916C

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	U67120UP1993PLC015144	LSL EMPLOYEES HOLDINGS LIMITED	Director	25-02-1993	25-02-1993	-	Active	NO
2	U29263UP1981PLC005446	LOHIA CORP LIMITED	Managing director	01-10-2011	01-01-1997	-	Active	NO

Name :

Mr. Raj Kumar Lohia

Designation :

Managing Director

Address :

113/91, Swaroop Nagar, Kanpur-208002, Uttar Pradesh, India

Date of Birth/Age :

21.08.1954

Date of Appointment :

01.11.2013

PAN

AATPL9289M

DIN No.:

00203659

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	U29263UP1981PLC005446	LOHIA CORP LIMITED	Managing director	01-11-2013	05-10-1981	-	Active	NO
2	U24139UP1985PLC006983	LOHIA SALES AND SERVICES LIMITED	Director	31-01-1985	31-01-1985	-	Active	NO
3	U17115UP1987PLC009240	LOHIA PACKAGING MACHINES LIMITED	Director	31-12-1987	31-12-1987	-	Active	NO
4	U29261UP1995PTC018782	KANUPRIYA ENTERPRISES PRIVATE LIMITED	Director	25-09-1995	25-09-1995	15-05-2010	Active	NO
5	U27120MH1971PLC015334	ROHIT POLYTEX LIMITED	Director	10-08-1998	10-08-1998	08-10-2007	Active	NO
6	U29261UP2002PLC026468	LOHIA FILAMENT MACHINES LIMITED	Director	29-01-2002	29-01-2002	-	Active	NO
7	L17229UP1994PLC017199	J. K. CEMENT LIMITED.	Director	26-07-2014	30-09-2004	-	Active	NO
8	L27100MH1961PLC011936	BAJAJ STEEL INDUSTRIES LIMITED	Director	18-10-2007	18-10-2007	-	Active	NO
9	U91110UP1932NPL000467	MERCHANT CHAMBER OF UTTAR PRADESH	Director	30-09-2009	30-09-2009	-	Active	NO
10	U91100DL2012NPL239417	PLASTICS MACHINERY MANUFACTURERS ASSOCIATION OF INDIA	Director	27-07-2012	27-07-2012	-	Active	NO

Name :

Mr. Anurag Kumar Lohia

Designation :

Whole-time director

Address :

Saket, 3A/88, Azad Nagar, Kanpur-208002, Uttar Pradesh, India

Date of Birth/Age :

18.05.1969

Date of Appointment :

01.10.2011

PAN

AAEPL1247N

DIN No.:

00205680

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	U51109UP1994PTC016899	LOHIA ENTERPRISES PRIVATE LIMITED	Director	07-09-1994	07-09-1994	10-09-2007	Active	NO
2	U24139UP1985PLC006983	LOHIA SALES AND SERVICES LIMITED	Director	13-08-1996	13-08-1996	-	Active	NO
3	U29236UP1997PTC022404	SHRI INDUSTRIES AND ENGG. WORKS PRIVATE LIMITED	Director	01-08-1997	01-08-1997	13-07-2009	Active	NO
4	U19129UP2001PTC025936	L R MOULDS PRIVATE LIMITED	Director	14-03-2001	14-03-2001	10-09-2007	Active	NO
5	U29261UP2002PLC026468	LOHIA FILAMENT MACHINES LIMITED	Director	29-01-2002	29-01-2002	-	Active	NO
6	U29263UP1981PLC005446	LOHIA CORP LIMITED	Whole-time director	01-10-2011	27-07-2002	-	Active	NO
7	L55101UP1974PLC003938	PURPLE ENTERTAINMENT LIMITED	Director	31-07-2002	31-07-2002	14-05-2013	Active	NO
8	U18101DL2002PTC117615	TEXPLUS FIBRES PRIVATE LIMITED	Director	08-11-2002	08-11-2002	-	Active	NO
9	U29253UP2000PTC025199	LOHIA ENGINEERING AND DESIGN SERVICES PRIVATE LIMITED	Director	28-07-2009	15-11-2008	-	Active	NO
10	U70102UP2013PTC056011	LOHIA GROUP HOUSING PRIVATE LIMITED	Director	05-04-2013	05-04-2013	-	Active	NO
11	U40300UP2013NPL056238	LOHIA GROUP ELECTRICITY CONSUMERS ASSOCIATION	Director	17-04-2013	17-04-2013	10-12-2013	Active	NO

Name :

Mr. Gopal Chandra Lohia

Designation :

Director

Address :

7-153-B, Swaroop Nagar, Kanpur-208002, Uttar Pradesh, India

Date of Birth/Age :

05.07.1937

Date of Appointment :

04.04.1983

DIN No.:

00203506

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	U29269UP1982PTC005581	LOHIA ENGINEERING WORKS PRIVATE LIMITED	Director	06-03-1982	06-03-1982	-	Strike off	NO
2	U29263UP1981PLC005446	LOHIA CORP LIMITED	Director	04-04-1983	04-04-1983	-	Active	NO
3	U17116UP1983PLC006119	THREADS (INDIA) LIMITED	Managing director	01-03-2011	16-05-1986	-	Active	NO
4	U17115UP1987PLC009240	LOHIA PACKAGING MACHINES LIMITED	Director	31-12-1987	31-12-1987	-	Active	NO

Name :

Mr. Prakash Chandra Joshi

Designation :

Whole-time director

Address :

C-312, Seikh Sarai, Phase-I, Malaviya Nagar, Delhi-110017, India

Date of Birth/Age :

14.11.1957

Date of Appointment :

01.04.2014

PAN

AAAPJ0820H

DIN No.:

01255000

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	U25209MH1997PTC134840	ASB INTERNATIONAL PRIVATE LIMITED	Director	09-06-2006	09-06-2006	16-08-2007	Active	NO
2	U29263UP1981PLC005446	LOHIA CORP LIMITED	Whole-time director	01-04-2014	01-04-2009	-	Active	NO

Name :

Mr. Paritosh Kumar Mukherjee

Designation :

Director

Address :

Flat No.305, Srishti Apartment, 4/276 B, Parwati Bagla Road, Vishnupuri, Kanpur-208002, Uttar Pradesh, India

Date of Birth/Age :

01.12.1942

Date of Appointment :

30.09.2013

PAN

ACNPM6958J

DIN No.:

06467351

Name :

Mr. Naresh Kumar Gupta

Designation :

Director

Address :

J-32, Sarita Vihar, New Delhi-110044, India

Date of Birth/Age :

15.04.1938

Date of Appointment :

30.09.2013

DIN No.:

00214602

Name :

Madhu Shah

Designation :

Director

Address :

Flat No. 205, Leela Palace, 7/85, Tilak Nagar, Kanpur – 208002, Uttar Pradesh, India

Date of Appointment :

30.03.2015

DIN No.:

00209396

KEY EXECUTIVES

Name :	Mr. Arvind Kumar Bhargava
Designation :	Secretary
Address :	107, Bima Vihar, Lakhanpur, Kanpur-208024, Uttar Pradesh, India
Date of Birth/Age :	23.03.1963
Date of Appointment :	16.05.1995
PAN No.:	ACIPB6172E
Name :	Mr. Atul Gupta
Designation :	Assistant Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 25.08.2014

NOTE: SHAREHOLDERS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on: 25.08.2014

Category	Percentage
Bodies corporate	82.24
Directors or relatives of Directors	17.76
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Machine for Plastic Bags

Products :

Item Code No.	Product Description
84463009	Circular Weaving Machines

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

• Indonesia
• Brazil
• China
• Thailand
• Pakistan

Imports :

Products :

Raw Material

Countries :

• Japan
• Australia
• Austria
• Germany

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers, Retailers and End Users

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

No. of Employees :

1800 (Approximately)

Bankers :

· The Hong Kong and Shanghai Banking Corporation Limited, Birla Towers, 25, Barakhamba Road, New Delhi-110001, India

· Canara Bank, 16/98, The Mall, Kanpur-208001, Uttar Pradesh, India

· State Bank of India, Overseas Branch, Virendra Smriti Complex, 15/54-B, Civil Lines, Kanpur-208001, Uttar Pradesh, India

· HDFC Bank Limited

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	482.219	0.000
Total	482.219	0.000

Auditors :
Name :	Anil Pariek and Garg Chartered Accountant
Address :	33, Anand Bazar, Swaroop Nagar, Kanpur, Uttar Pradesh, India
PAN No.:	AAAFG6229R
Memberships :	Not Available
Collaborators :	Not Available
Holding company:	· Shree Holdings Limited CIN: L65921UP1983PLC006136
Subsidiary company	· Lohia Packaging Machines Limited CIN: U17115UP1987PLC009240 · Lohia Filament Machines Limited CIN:U29261UP2002PLC026468 · Lohia Engineering And Design Services Private Limited CIN:U29253UP2000PTC025199 · Lohia Sales And Services Limited CIN:U24139UP1985PLC006983 · Lohia Group Electricity Consumers Association CIN:U40300UP2013NPL056238
Associates:	· LSL Employees Holdings Limited CIN:U67120UP1993PLC015144
Joint Venture:	· Lohia Do Brasil Limited, Brazil · Lohia Hong Kong Limited., Hong Kong · Carmenta Sociedad Anonima, Paraguay
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	· Threads (India) Limited CIN:U17116UP1983PLC006119 · L R Moulds Private Limited CIN:U19129UP2001PTC025936 · Superpack (Div. of Bajaj Steel Limited.)

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4954000	Equity Shares	Rs.10/- each	Rs.49.540 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	49.540	50.750	50.750
(b) Reserves & Surplus	3421.730	2958.497	2541.923
(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)	3471.270	3009.247	2592.673
(3) Non-Current Liabilities
(a) long-term borrowings	482.219	0.000	0.000
(b) Deferred tax liabilities (Net)	9.249	36.706	27.959
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.939	3.315	0.446
Total Non-current Liabilities (3)	492.407	40.021	28.405
(4) Current Liabilities
(a) Short term borrowings	245.285	128.406	571.351
(b) Trade payables	501.991	504.674	326.858
(c) Other current liabilities	737.952	590.242	523.830
(d) Short-term provisions	56.764	12.000	16.039
Total Current Liabilities (4)	1541.992	1235.322	1438.078
TOTAL	5505.669	4284.590	4059.156
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1304.078	1181.364	1000.402
(ii) Intangible Assets	59.428	74.943	41.028
(iii) Capital work-in-progress	42.663	1.923	52.746
(iv) Intangible assets under development	2.276	1.568	2.306
(b) Non-current Investments	184.540	170.350	236.120
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	336.962	174.113	101.448
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1929.947	1604.261	1434.050
(2) Current assets
(a) Current investments	1093.889	26.001	26.003
(b) Inventories	1087.659	1326.073	1439.370
(c) Trade receivables	408.973	548.372	405.069
(d) Cash and cash equivalents	233.799	265.780	255.190
(e) Short-term loans and advances	750.157	503.868	499.111
(f) Other current assets	1.245	10.235	0.363
Total Current Assets	3575.722	2680.329	2625.106
TOTAL	5505.669	4284.590	4059.156

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	6961.085	6767.326	5784.699
		Other Income	96.542	41.397	44.414
		TOTAL (A)	7057.627	6808.723	5829.113
Less	EXPENSES
		Cost of Material Consumed	3921.744	3690.805	3353.131
		Purchase of Stock In Trade	98.868	332.130	10.142
		Changes in inventories of Finished goods, work in progress and stock in trade	(7.353)	111.946	(123.475)
		Employee benefits expenses	641.570	596.054	479.968
		Other Expenses	1412.540	1362.918	1155.979
		TOTAL (B)	6067.369	6093.853	4875.745
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		990.258	714.870	953.368
Less	FINANCIAL EXPENSES (D)		31.716	11.377	20.317
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		958.542	703.493	933.051
Less/ Add	DEPRECIATION/ AMORTISATION (F)		178.430	166.938	166.453
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		780.112	536.555	766.598
Less	TAX (H)		240.804	201.547	240.728
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		539.308	335.008	525.870
	EARNINGS IN FOREIGN CURRENCY		2560.000	2270.000	2660.000
	Earnings / (Loss) Per Share (Rs.)		108.86	66.01	103.62

Particulars	31.03.2015
Sales Turnover (Approximately)	5930.000

Expected Sales (2015-2016) : Rs. 6500.000 Million

The above information has been parted by Mr. Atul Gupta

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	111.281	0.000	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	833.248	966.726	749.173

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	7.75	4.95	9.09
Operating Profit Margin (PBIDT/Sales)	(%)	14.23	10.56	16.48
Return on Total Assets (PBT/Total Assets}	(%)	14.79	13.05	20.35
Return on Investment (ROI) (PBT/Networth)		0.22	0.18	0.30
Debt Equity Ratio (Total Debt /Networth)		0.21	0.04	0.22
Current Ratio (Current Asset/Current Liability)		2.32	2.17	1.83

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	50.750	50.750	49.540
Reserves & Surplus	2541.923	2958.497	3421.730
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2592.673	3009.247	3471.270
long-term borrowings	0.000	0.000	482.219
Short term borrowings	571.351	128.406	245.285
Current maturities of long-term debts	0.000	0.000	111.281
Total borrowings	571.351	128.406	838.785
Debt/Equity ratio	0.220	0.043	0.242

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	5784.699	6767.326	6961.085
		16.987	2.863

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	5784.699	6767.326	6961.085
Profit	525.870	335.008	539.308
	9.09%	4.95%	7.75%

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)	Yes
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

PERFORMANCE:

The challenging economic scenario, the Company has recorded revenue from operations of Rs.6960.000 Million as against Rs. 6770.000 Million of the previous year and net profit at Rs. 540.000 Million compared to Rs. 340.000 Million of last year. Exports During the year at Rs. 2530.000 Million witnessed a growth of 12 as compared to previous year’s level of exports of Rs. 2260.000 Million.

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans repayable on demand	245.285	128.406
Total	245.285	128.406

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10401340	15/01/2013	136,620,000.00	The Hongkong and Shanghai Banking Corporation Limited	Birla House, 25 Barakhamba Road, New Delhi, Delhi  - 110001, India	B67390690
2	10394295	04/07/2014 *	604,500,000.00	The Hongkong and Shanghai Banking Corporation Limited	Birla Towers, 25 Barakhamba Road, New Delhi, Delhi - 110001, India	C11559507
3	10394292	10/12/2012	560,000,000.00	The Hongkong and Shanghai Banking Corporation Limited	Birla Towers, 25, Barakhamba Road, New Delhi, Delhi - 110001, India	B64948631
4	90268857	09/08/2014 *	1,200,000,000.00	State Bank of India	Overseas Branch, 15/54-B,, Virendra Smriti Complex, Civil Lines,, Kanpur, Uttar Pradesh - 208001, India	C19434877

* Date of charge modification

FIXED ASSETS

· Building

· Land

· Furniture and Fixtures

· Motor Vehicles

· Plant and Machinery

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.66.09
UK Pound	1	Rs.100.88
Euro	1	Rs.73.95

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	TRI
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		64

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.