MIRA INFORM REPORT

Report No. :	350118
Report Date :	28.11.2015

IDENTIFICATION DETAILS

Name :	GMMCO LIMITED
Registered Office :	9/1, R N Mukherjee Road, Kolkata – 700001, West Bengal
Tel. No.:	91-33-39181710
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.12.1966
Com. Reg. No.:	21-026980
Capital Investment / Paid-up Capital :	Rs. 48.673 Million
CIN No.: [Company Identification No.]	U35202WB1966PLC026980
IEC No.:	0288008111
TAN No.: [Tax Deduction & Collection Account No.]	CHEG00206D
PAN No.: [Permanent Account No.]	AABCG0949C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in "Sales and Marketing, Services and assembling of DG Sets" as Dealers of various equipments viz: Construction, Mining, Engines and Spare parts thereof.
No. of Employees :	Information declined by the management

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of “GP-CK Birla Group”. It is engaged in marketing and after-sales support of heavy equipment and gensets. It is a well-established company having fine track record. The ratings get strength on company’s position as an exclusive dealer for Caterpillar (CAT) products (in its designated region), wide product range, relatively stable revenue stream supported by after sales service and related income, its strong financial position characterized by high profitability margin coupled with favorable capital structure. The ratings also factor in the trading nature of business, established market position and rich promoter experiences. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. In view of decent financials as well as part of “Birla Group”, the company can be considered normal 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	CARE
Rating	Long term bank facilities: AA
Rating Explanation	High degree of safety and very low credit risk.
Date	01.10.2014

Rating Agency Name	CARE
Rating	Short term bank facilities: A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	01.10.2014

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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Sethum Adavan
Designation :	Assistant Manager
Contact No.:	91-8008102612
Date :	19.11.2015

LOCATIONS

Registered Office :	9/1, R N Mukherjee Road, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-39181710
Fax No.:	91-33-39181706
E-Mail :	neical@vsnl.com neical@nbcbearings.in
Website :	http://www.gmmco.in/GMMCO/
Sales Office :	Kallem’’s Plaza No.4-8-18/P14 Near Hayathnagar Bus Stop, Hayathnagar Hyderabad-501-505
Regional Office / Rental Stores / Workshops 1:	6, GST Road, ST. Thomas Mount, Chennai – 600016, Tamilnadu, India
Tel. No.:	91-44-30686000
Fax No.:	91-44-30686330/ 40/ 50/ 60/ 70
Regional Offices :	Mumbai Maker Bhavan No. 2, 18, New Marine Line, 2^nd Floor, Mumbai – 400020, Maharashtra, India Tel No.: 91-22-22000728/ 22000729/ 22001512/ 22057411 Fax No.: 91-22-22053921 Goa Opposite Teen Building, 813, Alto Porvorim, Goa – 403521, India Tel No.: 91-832-3911822/ 832 Fax No.: 91-832-3911809 Bangalore 38/5, Coles Road, Frazer Town, Bangalore – 560005, Karnataka, India Tel No.: 91-80-25496391/ 92/ 93 Fax No.: 91-80-25496394 Ahmedabad 704, Sakar IV, Opposite Town Hall Ellisbridge, Ashram Road, Ahmedabad – 380006, Gujarat, India Tel No.: 91-79-30041600/ 01/ 02 Fax No.: 91-79-30041620
Regional Office / Rental Stores / Workshops 2:	Plot No. G – 15, MIDC, Industrial Area, Central Hingna Road, Nagpur – 440028, Maharashtra, India
Tel. No.:	91-7104-232601/ 02/ 03/ 04/ 05
Fax No.:	91-7104-237851
Branches :	Located at: Gandhidham Rajkot Bhavnagar Vapi Surat Panvel Pune Hubli Bijapur Hospet Anantpur Mangalore Mysore Malappuram Aluva Cochin Madurai Tirunelveli Nellur Vijayawada Bailadila Chandrapur Ranchi Jabalpur

DIRECTORS

AS ON: 08.07.2014

Name :

Mr. Manohar Lal Pachisia

Designation :

Director

Address :

The Hermitage Building, 3^rd Floor, 4, Alipore Park Place, Kolkata - 700027, West Bengal, India

Date of Birth/Age :

06.11.1944

Qualification:

B Com

Date of Appointment :

11.03.2015

DIN No.:

00065431

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	L29130WB1946PLC013643	NATIONAL ENGG.INDUSTRIES LIMITED	Director	24/02/2015	21/03/1994	-	Active	NO
2	U67190MP1901PLC000439	GWALIOR FINANCE CORPORATION LIMITED	Director	27/05/1996	27/05/1996	-	Active	NO
3	U35202WB1966PLC026980	GMMCO LIMITED	Director	11/03/2015	20/11/1996	-	Active	NO
4	L21011OR1936PLC000117	ORIENT PAPER AND INDUSTRIES LIMITED.	Managing director	23/09/2014	23/09/1997	-	Active	NO
5	U51900WB1966PLC026949	SOORYA VANIJYA AND INVESTMENTS LIMITED.	Director	16/10/1998	16/10/1998	-	Active	NO
6	U70109WB1946PLC014112	BIRLA BUILDINGS LIMITED	Director	09/12/2002	09/12/2002	-	Active	NO
7	U72200DL1999PLC100410	BIRLASOFT ENTERPRISES LIMITED	Director	21/12/2005	21/12/2005	-	Amalgamated	NO
8	U29130RJ1948PLC000583	NATIONAL BEARING COMPANY (JAIPUR) LIMITED	Director	27/03/2015	28/12/2005	-	Active	NO
9	U74899DL1995PLC064560	BIRLASOFT (INDIA) LIMITED	Director	26/11/2014	07/07/2006	-	Active	NO
10	L26940OR2011PLC013933	Orient Cement Limited	Director	22/07/2011	22/07/2011	21/03/2013	Active	NO
11	U29299WB1960PLC024693	SPECIAL ENGG. SERVICES LIMITED	Director	30/08/2011	30/08/2011	-	Active	NO
12	U31900OR2012PLC015356	ORIENT ELECTRICALS LIMITED	Director	09/05/2012	09/05/2012	-	Active	NO

Name :

Mr. Kashi Prasad Chaudhary

Designation :

Director

Address :

Flat No. 5, 9^th Floor, 3 - B Camac Street, Kolkata - 700016, West Bengal, India

Date of Birth/Age :

05.01.1941

Qualification:

B Com (Hons) LLB FCA FCS FICWA

Date of Appointment :

08.07.2014

Election Commission Identity:

WB/23/146/072115

DIN No.:

00369615

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	L65993WB1978PLC031357	MADHUSUDAN HOLDINGS LIMITED	Director	20/12/1978	20/12/1978	-	Active	NO
2	U14299WB1961PLC024975	INDIA SILICA MAGNESITE WORKS LIMITED.	Director	29/06/1981	29/06/1981	-	Active	NO
3	U67120RJ1949PLC000703	PRODUCE AND SHARE BROKERS LIMITED	Director	29/06/1984	29/06/1984	-	Amalgamated	NO
4	U14219RJ1949PLC000700	RAJASTHAN INDUSTRIES LIMITED.	Director	30/01/1988	30/01/1988	-	Active	NO
5	U70200WB1989PLC046103	NEI PROPERTIES LIMITED.	Director	01/02/1989	01/02/1989	-	Active	NO
6	U65910WB1990PLC099477	BIRLA FINANCE LIMITED	Director	12/09/1990	12/09/1990	-	Amalgamated	NO
7	U29130RJ1948PLC000583	NATIONAL BEARING COMPANY (JAIPUR) LIMITED	Director	30/03/1992	30/03/1992	-	Active	NO
8	U35202WB1966PLC026980	GMMCO LIMITED	Director	08/07/2014	05/12/1997	-	Active	NO
9	U67120WB1946PLC013689	ASHOK INVESTMENT CORPORATION LIMITED.	Director	04/10/1999	04/10/1999	-	Active	NO
10	U15421WB1934PLC008026	RANCHI ENTERPRISES AND PROPERTIES LIMITED.	Director	22/10/1999	22/10/1999	14/10/2014	Active	NO
11	U65993WB1988PTC044393	BALSAM INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	29/06/2001	29/06/2001	-	Amalgamated	NO
12	L17119WB1935PLC046111	THE RAMESHWARA JUTE MILLS LIMITED	Director	25/09/2014	29/09/2005	-	Active	NO

Name :

Mr. Jagdish Prasad Chhaochharia

Designation :

Director

Address :

6 C, Short Street, Kolkata - 700016, West Bengal, India

Date of Birth/Age :

26.11.1931

Qualification:

Qualified By Experience

Date of Appointment :

08.02.2001

Election Commission Identity:

WB/23/146/012055

DIN No.:

00065287

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	U67190MP1901PLC000439	GWALIOR FINANCE CORPORATION LIMITED	Director	03/11/1969	03/11/1969	-	Active	NO
2	L29130WB1946PLC013643	NATIONAL ENGENEERING INDUSTRIES LIMITED	Director	28/12/1979	28/12/1979	08/05/2014	Active	NO
3	U67120WB1946PLC013689	ASHOK INVESTMENT CORPORATION LIMITED.	Director	29/04/1984	29/04/1984	-	Active	NO
4	U52500WB1928PLC005895	BENGAL STORES LIMITED.	Director	22/09/1986	22/09/1986	-	Active	NO
5	U29130RJ1948PLC000583	NATIONAL BEARING COMPANY (JAIPUR) LIMITED	Director	27/03/2015	28/06/1994	-	Active	NO
6	U51909WB1947PLC015860	CHHOTANAGPUR GENERAL TRADING COMPANY LIMITED	Director	22/08/1994	22/08/1994	-	Amalgamated	NO
7	U21093WB1955PLC022651	EASTERN INDIA SERVICES & MARKETING COMPANY LIMITED	Director	20/09/1999	20/09/1999	-	Active	NO
8	U35202WB1966PLC026980	GMMCO LIMITED	Director	08/02/2001	08/02/2001	-	Active	NO
9	L02710MP1938PLC000132	CENTRAL INDIA INDUSTRIES LIMITED.	Whole-time director	01/04/2013	26/05/2003	-	Active	NO
10	U70101WB1932PLC007341	BASANT PROPERTIES LIMITED.	Director	15/06/2005	15/06/2005	-	Active	NO
11	U65191WB1935PLC008270	JUTE INVESTMENT COMPANY LIMITED	Director	28/09/2005	28/09/2005	-	Active	NO

Name :

Mr. Hariharan Jayaram

Designation :

Managing Director

Address :

Villa No. 2, Block No. 12, Bollineni Hill Side, Nookampalayam, Sithalapakkam Post, Chennai – 600126, Tamil Nadu, India

Date of Birth/Age :

15.05.1956

Qualification:

B Sc (Engg). MBA

Date of Appointment :

01.01.2013

PAN No.:

AAHPH7981E

Election Commission Identity:

LMG3190469

DIN No.:

01019810

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	U35202WB1966PLC026980	GMMCO LIMITED	Managing director	01/01/2013	01/01/2007	-	Active	NO

Name :

Ms. Nandini Khaitan

Designation :

Director

Address:

3, Queens Park, Kolkata -700019, West Bengal, India

Date of Appointment :

09.03.2015

DIN No.:

06941351

KEY EXECUTIVES

Name :	Mr. Sanjay Bajoria
Designation :	Company Secretary
Name :	Mr. Sethum Adavan
Designation :	Assistant Manager
Name :	Mr. Satya Kam Bathwal
Designation :	Secretary
Address :	31/2D Ramkrishna Samadhi Road, Kankurgachi, Kolkata - 700054, West Bengal, India
Date of Birth/Age :	09.02.1956
Date of Appointment :	22.02.2000
Election Commission Identity:	WB/22/159/402027
PAN No.:	ADYPB2060Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 08.07.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON: 08.07.2014

Category	Percentage
Public Financial Companies	0.20
Bodies corporate	99.75
Other top fifty shareholders	0.02
Others	0.03
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in "Sales and Marketing, Services and assembling of DG Sets" as Dealers of various equipments viz: Construction, Mining, Engines and Spare parts thereof.

Products :

Item Code No. (ITC Code)	Product Description
84290000	Earth moving equipment including spares
85020000	Engines
87030000	Other Including Exports

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
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 :

Reference :	Not Divulged
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 :

Information declined by the management

Bankers :

Banker Name	Kotak Mahindra Bank Limited
Branch Address	36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai - 400021, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India ICICI Bank Limited, 2-B, Gorky Terrace, Kolkata - 700017, West Bengal, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee Term Loan from Banks	1986.845	1.050
Rupee Term Loan from Others	1.600	0.550
SHORT TERM BORROWING
Rupee Term Loan from Banks	1496.794	1143.495
Total	3485.239	1145.095

Auditors :
Name :	Singhi and Company Chartered Accountants
Address :	1, Philips Street, Chennai – 600001, Tamil Nadu, India
PAN No.:	AASFS9578D
Memberships :	Not Available
Collaborators :	Not Available
Holding Company:	Universal Trading Company Limited, India CIN: U51101RJ1948PLC000752
Subsidiary Company:	GMMCO Singapore Pte Limited, Singapore
Associates Company :	Birla GTM Entrepose Limited, India CIN: U45203WB1990PLC048284 Ranchi Enterprises and Properties Limited, India CIN: U15421WB1934PLC008026

CAPITAL STRUCTURE

AS ON: 08.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs.10/- each	Rs. 125.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4867275	Equity Shares	Rs.10/- each	Rs. 48.673 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	48.673	48.673	48.673
(b) Reserves & Surplus	5002.118	4657.510	4251.089
(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)	5050.791	4706.183	4299.762
(3) Non-Current Liabilities
(a) long-term borrowings	1988.445	1.600	17.500
(b) Deferred tax liabilities (Net)	146.900	58.700	56.100
(c) Other long term liabilities	19.494	36.235	36.232
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	2154.839	96.535	109.832
(4) Current Liabilities
(a) Short term borrowings	1626.715	1420.660	1502.774
(b) Trade payables	1016.839	1092.274	1088.361
(c) Other current liabilities	1809.040	889.313	774.071
(d) Short-term provisions	115.650	129.647	160.656
Total Current Liabilities (4)	4568.244	3531.894	3525.862
TOTAL	11773.874	8334.612	7935.456
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1744.353	1693.180	1594.772
(ii) Intangible Assets	2231.858	14.708	14.670
(iii) Capital work-in-progress	153.469	40.526	27.509
(iv) Intangible assets under development	0.000	4.465	2.858
(b) Non-current Investments	158.568	51.185	45.603
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	124.932	118.960	112.009
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	4413.180	1923.024	1797.421
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3782.413	3174.793	2843.696
(c) Trade receivables	2348.543	2063.236	2070.776
(d) Cash and cash equivalents	487.540	458.710	296.245
(e) Short-term loans and advances	352.696	412.149	430.103
(f) Other current assets	389.502	302.700	497.215
Total Current Assets	7360.694	6411.588	6138.035
TOTAL	11773.874	8334.612	7935.456

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Revenue from Operations	15439.905	13323.296	13522.495
	Other Income	214.797	242.217	276.762
	TOTAL (A)	15654.702	13565.513	13799.257
Less	EXPENSES
	Cost of Materials Consumed	1615.191	1998.445	1755.728
	Purchases of Stock-in-Trade	10970.444	8479.243	9417.518
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1064.329)	(306.211)	(483.866)
	Employees benefits expense	1088.275	929.063	824.255
	Other expenses	1805.157	1341.886	1105.184
	TOTAL (B)	14414.738	12442.426	12618.819
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)	1239.964	1123.087	1180.438
Less:	FINANCIAL EXPENSES (D)	183.346	91.116	107.637
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1056.618	1031.971	1072.801
Less:	DEPRECIATION/ AMORTISATION (F)	250.476	175.180	171.765
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	806.142	856.791	901.036
Less:	TAX (H)	290.700	280.100	293.200
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	515.442	576.691	607.836
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	547.115	540.694	574.280
Less:	APPROPRIATIONS
	Interim Dividend	73.009	73.009	500.000
	Proposed Dividend	73.009	73.009	121.682
	Tax on Dividend	24.816	24.252	19.740
	Transfer to General Reserve	400.000	400.000	0.000
	Total	570.834	570.270	641.422
	Balance Carried to the B/S	491.723	547.115	540.694
	EARNINGS IN FOREIGN CURRENCY	1422.284	667.376	567.273
	Earnings / (Loss) Per Share (Rs.)	105.90	118.48	124.88

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	334.991	9.550	17.500
Cash generated from operations	NA	NA	NA
Net Cash Flow from (used in) Operations	543.117	974.021	(96.738)
Net Cash Flow from (used in) Operating Activities	313.017	734.494	(381.090)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	3.34	4.33	4.49
Operating Profit Margin (PBIDT/Sales)	(%)	8.03	8.43	8.73
Return on Total Assets (PBT/Total Assets}	(%)	7.03	10.40	11.46
Return on Investment (ROI) (PBT/Networth)		0.16	0.18	0.21
Debt Equity Ratio (Total Debt /Networth)		0.78	0.30	0.36
Current Ratio (Current Asset/Current Liability)		1.61	1.82	1.74

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	48.673	48.673	48.673
Reserves & Surplus	4251.089	4657.510	5002.118
Net worth	4299.762	4706.183	5050.791
long-term borrowings	17.500	1.600	1988.445
Short term borrowings	1502.774	1420.660	1626.715
Current maturities of long-term debts	17.500	9.550	334.991
Total borrowings	1537.774	1431.810	3950.151
Debt/Equity ratio	0.358	0.304	0.782

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)
Revenue from Operations	13522.495	13323.296	15439.905
		(1.473)	15.887

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operations	13522.495	13323.296	15439.905
Profit	607.836	576.691	515.442
	4.49%	4.33%	3.34%

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	Yes
12	Voter Id Card No. of Proprietor / Partners	Yes
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

BUSINESS ACTIVITIES:

The overall performance of the company has been satisfactory considering continuing slow down/challenges in the Infrastructure and Mining Industry. The overall revenue from operations has been Rs. 16670.000 Million compared to Rs. 14520.000 Million in the previous year registering a growth of about 15%

During the Year Company the Company has acquired mining equipment sales, distribution and after sales, service and support business of Bucyrus range of products from Bucyrus India Private Limited for a total consideration of Rs. 3295.300 Million. The regular business of Caterpillar products continues to be good. Satisfactory progress has been made in developing business of after sales support of Mercedes Benz Trucks wherein the company had been appointed as Authorized Service Centre by Daimler India Private Limited last year. We are pleased to inform that they have further appointed the Company a dealer (Sales and Service) for Bharat Benz range of trucks used in mining operations.

The Company's products are mainly catering to infrastructure and mining sector. The company believes that there will be improvement in this sector by second half of the current year and is hopeful of a better performance.

UNSECURED LOAN:

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Foreign Currency Term Loan from Banks	129.921	277.165
Total	129.921	277.165

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10469209	19/06/2014 *	600,000,000.00	KOTAK MAHINDRA BANK LIMITED	27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	C09205774
2	10469078	19/06/2014 *	1,800,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL  WEST, MUMBAI, MAHARASHTRA - 400013, INDIA	C09104001
3	10393736	24/09/2014 *	1,000,000,000.00	ICICI Bank Limited	2-B, GORKY TERRACE, KOLKATA, WEST BENGAL - 700017, INDIA	C25230897
4	10383450	05/10/2012	150,000,000.00	Citibank N A	GROUND FLOOR, 163 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA	B60893922
5	10357609	16/02/2015 *	900,000,000.00	The Hongkong and Shanghai Banking Corporation Limited	NO. 5 AND 7, CATHEDRAL ROAD, CHENNAI, TAMIL NADU - 600086, INDIA	C44542447
6	10335315	25/01/2012	150,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA 400018, INDIA	B32008450
7	10302700	02/08/2011	150,000,000.00	Deutsche Bank AG	GLOBAL BANKING DIVISION, KOTHARI BUILDING, 5TH FLOOOR 114, M.G.ROAD, CHENNAI, TAMIL NADU - 600034, INDIA

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Claims against company not acknowledged as debt	10.971	4.965
Guarantees	148.792	154.507
Other money for which company is contingently liable	29.656	26.884
TOTAL	189.418	186.356

FIXED ASSETS:

TANGIBLE ASSETS

• Land
• Office building
• Plant and equipment
• Other plant and equipment
• Furniture and fixtures
• Motor vehicles

Intangible Assets

• Computer software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 66.55
UK Pound	1	Rs. 100.67
Euro	1	Rs. 70.87

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAS
Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	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		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.