MIRA INFORM REPORT

Report No. :	342998
Report Date :	01.10.2015

IDENTIFICATION DETAILS

Name :	SEAWAYS SHIPPING AND LOGISTICS LIMITED (w.e.f. 17.06.2010)

Formerly Known As :	SEAWAYS SHIPPING LIMITED (w.e.f. 16.10.1995) SEAWAYS SHIPPING SERVICES PRIVATE LIMITED

Registered Office :	Seaways Pride, Plot No. 731, Road No. 36, Jubilee Hills , Hyderabad - 500034, Telangana
Tel. No.:	91-40-66447000

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	01.12.1989

Com. Reg. No.:	36-010716

Capital Investment / Paid-up Capital :	Rs.107.420 Million

CIN No.: [Company Identification No.]	U63010TG1989PLC010716

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AADCS0845B

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Subject is a shipping and logistics service provider offering integrated and turnkey services in shipping, logistics and international trade.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 790000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company incorporated in the year 1989. It has satisfactory track. Management has registered healthy scale of operations with a top line growth of 8.6%. The company has earned decent profit in comparison of previous year losses. The company has satisfactory financial base, efficient networth position along with favourable gap between trade payables and receivables. Trade relations are fair. Business is active. Payment are usually correct. The company can be considered for business dealings at usual trades 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

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

EXTERNAL AGENCY RATING

NOT AVAILABLE

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

Management non-cooperative (91-40-66447000)

LOCATIONS

Registered / Corporate Office :	Seaways Pride, Plot No. 731, Road No. 36, Jubilee Hills , Hyderabad - 500034, Telangana, India
Tel. No.:	91-40-66447000
Fax No.:	91-40-66102040 / 23541852
E-Mail :	satishbabu@seawaysindia.com info@seawaysindia.com
Website :	www.seawaysindia.com

Branch Network :	Located At : Bangalore Chennai Cochin Delhi Goa Gandhidam Hyderabad Kolkata Kakinada Kandla Mumbai Mangalore Nepal Pune Paradip Tuticorin Visakhapatnam

DIRECTORS

As on 29.09.2014

Name :	Mr. Parvataneni Sarat Kumar
Designation :	Whole-Time Director
Address :	Plot No. 11, Nandagiri Hills, Jubilee Hills, Hyderabad - 500034, Telangana, India
Date of Birth/Age :	04.04.1961
Date of Appointment :	01.04.2015
DIN No.:	00016144

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	U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	Whole-time director	01/04/2015	01/04/1994	-	Active	NO
2	U63011TG1998PTC028759	MAXICON SHIPPING AGENCIES PRIVATE LIMITED	Whole-time director	19/01/1998	19/01/1998	-	Amalgamated	NO
3	U61110TG2000PTC033716	SEAMASTER SHIPPING AND LOGISTICS PRIVATE LIMITED	Whole-time director	21/02/2005	21/02/2005	-	Amalgamated	NO
4	U63011TG2000PTC035464	SEABIRD SEA AND AIR LOGISTICS PRIVATE LIMITED	Whole-time director	21/02/2005	21/02/2005	-	Amalgamated	NO
5	U61100TG1996PTC024117	LEVAN MARINE SERVICES PRIVATE LIMITED	Director	16/08/2010	16/08/2010	-	Amalgamated	NO
6	U63030TG2013PTC086112	SEAMASTER SEA AND AIR LOGISTICS PRIVATE LIMITED	Director	05/03/2013	05/03/2013	-	Active	NO
7	U63090TG2013PTC086113	SEAWAYS LINER AGENCIES PRIVATE LIMITED	Director	06/03/2013	06/03/2013	-	Active	NO

Name :

Mr. Parvataneni Vivek Anand

Designation :

Whole-Time Director

Address :

Plot No. 68, MP/MLA Colony, Road No. 10C, Jubilee Hills, Hyderabad - 500034, Telangana, India

Date of Birth/Age :

15.09.1962

Date of Appointment :

01.04.2015

DIN No.:

00016163

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	U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	Whole-time director	01/04/2015	01/04/1994	-	Active	NO
2	U61110TG2000PTC033716	SEAMASTER SHIPPING AND LOGISTICS PRIVATE LIMITED	Whole-time director	28/02/2000	28/02/2000	-	Amalgamated	NO
3	U63011TG1998PTC028759	MAXICON SHIPPING AGENCIES PRIVATE LIMITED	Whole-time director	21/02/2005	21/02/2005	-	Amalgamated	NO
4	U63011TG2000PTC035464	SEABIRD SEA AND AIR LOGISTICS PRIVATE LIMITED	Whole-time director	21/02/2005	21/02/2005	-	Amalgamated	NO
5	U63090TG2013PTC086113	SEAWAYS LINER AGENCIES PRIVATE LIMITED	Additional director	12/11/2014	12/11/2014	-	Active	NO
6	U63030TG2013PTC086112	SEAMASTER SEA AND AIR LOGISTICS PRIVATE LIMITED	Additional director	12/11/2014	12/11/2014	-	Active	NO

Name :

Mr. Capt Parvataneni Venkata Krishna Mohan

Designation :

Managing Director

Address :

Plot No.319, Road No.25, Jubilee Hills, Hyderabad - 500033, Telangana, India

Date of Birth/Age :

12.09.1957

Date of Appointment :

01.04.2015

DIN No.:

00335125

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	U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	Managing director	01/04/2015	01/12/1989	-	Active	NO
2	U63011TG1998PTC028759	MAXICON SHIPPING AGENCIES PRIVATE LIMITED	Whole-time director	19/01/1998	19/01/1998	-	Amalgamated	NO
3	U61110TG2000PTC033716	SEAMASTER SHIPPING AND LOGISTICS PRIVATE LIMITED	Whole-time director	28/02/2000	28/02/2000	-	Amalgamated	NO
4	U63011TG2000PTC035464	SEABIRD SEA AND AIR LOGISTICS PRIVATE LIMITED	Whole-time director	12/10/2000	12/10/2000	-	Amalgamated	NO
5	U74899AP1952GOI076711	HINDUSTAN SHIPYARD LIMITED	Director	06/06/2008	06/06/2008	05/06/2011	Active	NO
6	U61100TG1996PTC024117	LEVAN MARINE SERVICES PRIVATE LIMITED	Director	16/08/2010	16/08/2010	-	Amalgamated	NO
7	U63030TG2013PTC086112	SEAMASTER SEA AND AIR LOGISTICS PRIVATE LIMITED	Director	05/03/2013	05/03/2013	-	Active	NO
8	U63090TG2013PTC086113	SEAWAYS LINER AGENCIES PRIVATE LIMITED	Director	06/03/2013	06/03/2013	-	Active	NO

Name :

Mr. Prasad Gadkari

Designation :

Nominee Director

Address :

111, 4^th Road, Hindu Colony, Dadar, Mumbai - 400014, Maharashtra, India

Date of Birth/Age :

20.02.1974

Date of Appointment :

29.09.2014

DIN No.:

02607255

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	U65921MH2006PTC163408	SMMS INVESTMENTS PRIVATE LIMITED	Director	30/09/2009	29/04/2009	24/11/2011	Active	NO
2	U64200MH1995PTC087657	OMEGA TELECOM HOLDINGS PRIVATE LIMITED	Director	29/09/2009	10/08/2009	24/11/2011	Active	NO
3	U15200KA1998PLC023489	HEALTHCARE GLOBAL ENTERPRISES LIMITED	Nominee director	18/11/2010	18/11/2010	29/03/2011	Active	NO
4	U41000MH2007PTC173486	DOSHION WATER SOLUTION PRIVATE LIMITED	Nominee director	25/11/2010	25/11/2010	20/01/2014	Active	NO
5	U24110GJ1995PTC025307	DOSHION Private Limited	Nominee director	11/01/2011	11/01/2011	20/01/2014	Active	NO
6	U28110GJ2008PTC053182	PACIFIC PIPE SYSTEMS PRIVATE LIMITED	Nominee director	11/01/2011	11/01/2011	20/01/2014	Active	NO
7	U40101HP2011PLC031699	Green Infra Hydro Energy Projects Limited	Director	04/07/2011	04/07/2011	29/11/2011	Active	NO
8	U40300DL2011PLC221876	Green Infra Wind Generation Limited	Director	04/07/2011	04/07/2011	29/11/2011	Active	NO
9	U40108DL2011PLC221875	Green Infra Wind Energy Project Limited	Director	04/07/2011	04/07/2011	29/11/2011	Active	NO
10	U40108DL2011PLC221871	Green Infra Wind Power Generation Limited	Director	04/07/2011	04/07/2011	29/11/2011	Active	NO
11	U40108DL2011PLC221863	Green Infra Wind Power Development Limited	Director	04/07/2011	04/07/2011	29/11/2011	Active	NO
12	U40108DL2011PLC221862	Green Infra Wind Power Projects Limited	Director	04/07/2011	04/07/2011	29/11/2011	Active	NO
13	U40106DL2011PLC222911	Green Infra Wind Power Ventures Limited	Director	28/07/2011	28/07/2011	29/11/2011	Active	NO
14	U40106DL2011PLC224943	Green Infra Corporate Solar Limited	Director	29/09/2014	12/09/2011	13/02/2015	Active	NO
15	U40108DL2011PLC224946	Green Infra Solar Projects Limited	Director	12/09/2011	12/09/2011	30/11/2011	Active	NO
16	U40101DL2011PLC225067	Green Infra Wind Energy Assets Limited	Director	14/09/2011	14/09/2011	30/11/2011	Active	NO
17	U40102DL2011PLC225066	Green Infra Wind Farm Assets Limited	Nominee director	29/09/2014	14/09/2011	13/02/2015	Active	NO
18	U45200TN2001PLC088377	GVR INFRA PROJECTS LIMITED	Nominee director	26/06/2014	05/07/2012	-	Active	NO
19	U74140KA2004PTC033168	MANIPAL INTEGRATED SERVICES PRIVATE LIMITED	Nominee director	08/11/2012	08/11/2012	-	Active	NO
20	U40106KA2014PTC072894	SKYRON ECO VENTURES PRIVATE LIMITED	Director	30/09/2014	28/03/2014	-	Active	NO
21	U74900KA2000PTC027229	Medi Assist Healthcare Services Private Limited	Nominee director	30/09/2014	18/06/2014	-	Active	NO
22	U80301KA2000PTC027257	MANIPAL EDUCATION AND MEDICAL GROUP INDIA PRIVATE LIMITED	Nominee director	27/06/2014	27/06/2014	-	Active	NO
23	U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	Nominee director	29/09/2014	07/07/2014	-	Active	NO
24	U40107DL2010PLC202170	Green Infra Solar Energy Limited	Nominee director	30/09/2014	17/07/2014	13/02/2015	Active	NO
25	U40107DL2010PLC202168	Green Infra Solar Farms Limited	Nominee director	30/09/2014	17/07/2014	13/02/2015	Active	NO

Name :

Mr. Vinod Premchand Giri

Designation :

Nominee Director

Address :

Dosti Flamings, Sky Flama, B Wing, Plot No. 1405, China Mill Compound, T. J. Road, Sewree, Parel, Mumbai - 400015, Maharashtra, India

Date of Birth/Age :

03.12.1978

Date of Appointment :

28.09.2012

DIN No.:

02632824

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	L51909TN1955PLC002431	SICAL LOGISTICS LIMITED.	Nominee director	16/09/2009	05/05/2009	13/11/2010	Active	NO
2	U60222DL1986PLC026342	DARCL Logistics Limited	Nominee director	04/07/2014	11/11/2010	-	Active	NO
3	U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	Nominee director	28/09/2012	03/11/2011	-	Active	NO
4	U11102PN2006PLC021839	MAHARASHTRA NATURAL GAS LIMITED	Nominee director	19/09/2014	24/06/2014	27/03/2015	Active	NO
5	U40102DL2010PLC202240	Green Infra Wind Power Limited	Nominee director	29/09/2014	17/07/2014	13/02/2015	Active	NO
6	U45203DL2008PLC213297	GREEN INFRA CORPORATE WIND LIMITED	Nominee director	29/09/2014	17/07/2014	13/02/2015	Active	NO
7	U40300DL2012PLC236178	Green Infra Wind Techno Solutions Limited	Nominee director	26/09/2014	17/07/2014	13/02/2015	Active	NO
8	U40108DL2011PLC221862	Green Infra Wind Power Projects Limited	Nominee director	30/09/2014	17/07/2014	13/02/2015	Active	NO
9	U40108DL2011PLC221871	Green Infra Wind Power Generation Limited	Nominee director	30/09/2014	17/07/2014	13/02/2015	Active	NO
10	U40108DL2011PLC221875	Green Infra Wind Energy Project Limited	Nominee director	29/09/2014	17/07/2014	13/02/2015	Active	NO
11	U40106KA2014PTC072894	SKYRON ECO VENTURES PRIVATE LIMITED	Additional director	30/01/2015	30/01/2015	-	Active	NO

Name :

Mr. Mohandas Karunakaran Nair

Designation :

Additional Director

Address :

TC-4/1804, Ushasandhya, T.T.C Junction, Kowdiar, Trivandrum - 695003, Kerala, India

Date of Appointment :

15.01.2015

DIN No.:

06493283

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	U61200KL1975SGC002755	KERALA SHIPPING AND INLAND NAVIGATION CORPORATION LIMITED	Director	04/05/2012	04/05/2012	-	Active	NO
2	U25193KL1966GOI002621	HLL LIFECARE LIMITED	Director	07/01/2013	07/01/2013	-	Active	NO
3	U45200KL2014GOI036617	HLL Infra Tech Services Limited	Director	27/10/2014	27/10/2014	-	Active	NO
4	U24290KL2012GOI030732	HLL Biotech Limited	Nominee director	12/11/2014	12/11/2014	-	Active	NO
5	U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	Additional director	15/01/2015	15/01/2015	-	Active	NO
6	U74140KL2015PTC038281	TURYA CONSULTING PRIVATE LIMITED	Director	07/04/2015	07/04/2015	-	Active	NO

Name :

Mr. Tuk Tuk Kumar

Designation :

Additional Director

Address :

D-69 2^nd Floor, Saket, New Delhi - 110017, Delhi, India

Date of Appointment :

02.09.2015

DIN No.:

06547361

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	L63030MH1950GOI008033	SHIPPING CORPORATION OF INDIA LIMITED	Nominee director	26/11/2012	26/11/2012	31/08/2015	Active	NO
2	L74899DL1965GOI004363	INDIA TOURISM DEVELOPMENT CORPORATION LIMITED	Nominee director	04/09/2013	04/09/2013	-	Active	NO
3	U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	Additional director	02/09/2015	02/09/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Murali Venkatachalam Krishnaswamy
Designation :	Chief Financial Officer
Address :	10-3-9 OHP Trident Towers, Street No.4, East Marredpally, Secunderabad - 500026, Telangana, India
Date of Appointment :	01.04.2014
PAN No.:	AKJPK2291A

Name :	Mr. Babu T. V. Satish
Designation :	Company Secretary
Address :	House No 2-2-647/273, S-34, 954, Central Excise Colony, Bagh Amber Pet, Hyderabad - 500013, Telangana, India
Date of Birth/Age :	18.11.1965
Date of Appointment :	01.11.2012
PAN No.:	APCPS9970A

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders		No. of Shares
Capt. P. V. K. Mohan		3552566
P. Sarat Kumar		1210098
P. Vivek Anand		1409813
P. Sudha Mohan		326592
P. Prashanti		108108
P. Divya		108108
P. Vijayendra		36000
P. Vinavendra		36000
R. Shravan		36000
R. Chaitanya		36000
P. Viswa Ratan		288000
R. Ramesh		1016668
IDFC Private Equity Fund II, India		2578090
Total		10742043

As on 29.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Venture Capital	24.00
Directors or relatives of Directors	76.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is a shipping and logistics service provider offering integrated and turnkey services in shipping, logistics and international trade.

Products / Services :	Freight Forwarding Clearing and Forwarding Stevedoring Container Handling Project Cargo Air Logistics Warehousing and Distribution Marine Surveys and Consultancy Besides Vessel Agency Services Liner Agency Services

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Not Divulged

Purchasing :	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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	Canara Bank
Branch Address	Jubilee Hills Branch, Plot No.264/A, Road No.10, Jubilee Hills, Hyderabad – 500033, Telangana, 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

ING Vysya Bank Limited, 1-7-1, T Subramani Reddy Complex, Sardar Patel Road, Secunderabad - 500003, Telangana, India
RBL Bank Limited, Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term Loans	267.880	288.548
SHORT TERM BORROWING
Loans repayable on demand from banks	213.874	245.960
Total	481.754	534.508

Auditors :
Name :	B S R and Associates LLP Chartered Accountants
Address :	Reliance Humsafar,4^Th Floor, Road No. 11, Banjara Hills, Hyderabad – 500034, Telangana, India
PAN No.:	AADFB6889R

Memberships :	Not Available

Collaborators :	Not Available

Subsidiaries :	Maxicon Container Line Pte Limited, Singapore Seaways Shipping Line Pte Limited, Singapore Seaways Liner Agencies Private Limited, India Seamaster Sea and Air Logistics Private Limited (formerly Seamaster Liner Agencies Private Limited), India

Step down subsidiaries :	Maxicon Shipping Agencies Pte Limited, Singapore Maxicon Container Line (L.L.C), UAE Maxicont Shipping Agencies SDN. BHD, Malaysia Proline Container SDN. BHD, Malaysia

Joint venture :	Global Shipping Corporation, USA

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount

102000000	Equity Shares	Rs.10/- each	Rs.1020.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

10742043	Equity Shares	Rs.10/- each	Rs.107.420 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	107.420	107.420	107.420
(b) Reserves & Surplus	172.559	5.131	284.739
(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)	279.979	112.551	392.159

(3) Non-Current Liabilities
(a) long-term borrowings	277.680	288.548	534.043
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	20.837	24.137	18.402
Total Non-current Liabilities (3)	298.517	312.685	552.445

(4) Current Liabilities
(a) Short term borrowings	213.874	245.960	249.253
(b) Trade payables	513.628	517.897	420.859
(c) Other current liabilities	248.146	261.337	313.302
(d) Short-term provisions	5.772	5.972	5.344
Total Current Liabilities (4)	981.420	1031.166	988.758

TOTAL	1559.916	1456.402	1933.362

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	619.283	624.107	1239.878
(ii) Intangible Assets	2.802	3.802	4.985
(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	16.928	16.728	13.041
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	124.297	128.860	62.558
(e) Other Non-current assets	3.011	3.995	12.301
Total Non-Current Assets	766.321	777.492	1332.763

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	26.691
(c) Trade receivables	622.975	526.483	306.427
(d) Cash and cash equivalents	76.297	63.538	72.252
(e) Short-term loans and advances	78.793	81.114	184.161
(f) Other current assets	15.530	7.775	11.068
Total Current Assets	793.595	678.910	600.599

TOTAL	1559.916	1456.402	1933.362

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	4021.015	3701.792	3096.986
	Other Income	31.779	59.931	23.489
	TOTAL	4052.794	3761.723	3120.475

Less	EXPENSES
	Cost of Materials Consumed	3344.729	3077.549	2687.280
	Employees benefits expense	221.668	225.671	202.734
	Exceptional Items	0.000	465.420	418.018
	Other expenses	192.945	182.247	154.356
	TOTAL	3759.342	3950.887	3462.388

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	293.452	(189.164)	(341.913)

Less	FINANCIAL EXPENSES	88.065	119.027	144.353

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	205.387	(308.191)	(486.266)

Less/ Add	DEPRECIATION/ AMORTISATION	38.655	73.377	158.739

	PROFIT/ (LOSS) BEFORE TAX	166.732	(381.568)	(645.005)

Less	TAX	(0.696)	(0.572)	3.668

	PROFIT/ (LOSS) AFTER TAX	167.428	(380.996)	(648.673)

	Earnings / (Loss) Per Share (Rs.)	15.58	(35.46)	(60.38)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	78.594	112.211	73.759
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	169.853	(342.360)	(343.343)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	4.16	(10.29)	(20.95)

Operating Profit Margin (PBDIT / Sales)	(%)	7.30	(5.11)	(11.04)

Return on Total Assets (PBT/Total Assets}	(%)	10.81	(26.50)	(33.59)

Return on Investment (ROI) (PBT/Networth)		0.60	(3.39)	(1.64)

Debt Equity Ratio (Total Debt/Networth)		2.04	5.75	2.19

Current Ratio (Current Asset/Current Liability)		0.81	0.66	0.61

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	107.420	107.420	107.420
Reserves & Surplus	284.739	5.131	172.559
Net worth	392.159	112.551	279.979

long-term borrowings	534.043	288.548	277.680
Short term borrowings	249.253	245.960	213.874
Current Maturities of Long Term Debt	73.759	112.211	78.594
Total borrowings	857.055	646.719	570.148
Debt/Equity ratio	2.185	5.746	2.036

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	3096.986	3701.792	4021.015
		19.529	8.623

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	3096.986	3701.792	4021.015
Profit	(648.673)	(380.996)	167.428
	(20.95%)	(10.29%)	4.16%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	----------------------
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	----------------------
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	----------------------
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
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

COMPANY OVERVIEW

Subject is a shipping and logistics service provider offering integrated and turnkey services in shipping, logistics and international trade. These comprehensive solutions includes services of freight forwarding, clearing and forwarding, stevedoring, container handling, project cargo, air logistics, warehousing and distribution, marine surveys and consultancy besides vessel agency services and liner agency services and business process outsourcing services.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loans and advances from related parties	9.800	0.000
Total	9.800	0.000

INDEX OF CHARGES

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10576405	12/06/2015	100,000,000.00	RBL BANK LIMITED	SHAHUPURI,KOLHAPUR, KOLHAPUR - 416001, MAHARASHTRA, INDIA	C57186710
2	10525016	22/08/2014	16,000,000.00	TATA CAPITAL HOUSING FINANCE LIMITED	ONE FORBES, DR V B GANDHI MARG, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	C28756971
3	10452769	07/09/2013	953,000.00	CANARA BANK	JUBILEE HILLS BRANCH, PLOT NO.264/A, ROAD NO.10, JUBILEE HILLS, HYDERABAD - 500033, TELANGANA, INDIA	B86541877
4	10438565	28/06/2013	30,000,000.00	CANARA BANK	JUBILEE HILLS BRANCH, PLOT NO.264/A, ROAD NO.10, JUBILEE HILLS, HYDERABAD - 500033, TELANGANA, INDIA	B80317829
5	10281098	25/06/2014 *	1,016,000,000.00	CANARA BANK	PRIME CORPORATE BRANCH, TSR COMPLEX, S.P.ROAD, SECUNDERABAD, HYDERABAD - 500003, TELANGANA, INDIA	C11989985

* Date of charge modification

WEBSITE DETAILS:

PRESS RELEASES:

SEAWAYS COMPLETES THREE SUCCESSFUL VOYAGES OF PRANTIK BIX SERVICE

May 10, 2015

Seaways in partnership with the Singapore firm, Prantik Marine Pte Limited, has successfully completed three voyages of the Prantik Bangladesh India Express (BIX) service in less than two months of the commencement of the service.

The Prantik BIX is a direct service launched in March 2015. It was specifically commissioned to boost the coastal (container) trade between Indian and Bangladesh through Kolkata and Chittagong gateway ports respectively.

Marking this occasion, Capt. PVK Mohan, Chairman and Managing Director, Seaways Group, commented, “I express my gratitude to all the shippers, NVOCCs and MLOs who supported this service. Going forward, I expect more shippers to utilize this service from both the countries.”

Capt. Mohan further stated, “Seaways is ever committed to promote the Indo-Bangladesh trade through the sea route. We assure you our best services at all times and strive to enhance the service quality through hassle free movement, increased cargo security and added convenience.”

This direct service is very much inexpensive as compared to the routes via Singapore, Colombo or Port Klang and has faster turnaround time. Shippers will be benefitted through this service by reduced shipping times and reduced costs.

The vessel used in this service is MV Rodella, a general cargo vessel designed to carry containers, break bulk and project cargo. Given its unique design, MV Rodella can call at shallow inland ports in Bangladesh even when fully loaded.

About Seaways Group

Seaways is one of the leading logistics service providers in India offering integrated and turnkey solutions in shipping and logistics domains. With its strategically located branches across India and overseas, Seaways is ideally positioned to offer cost-effective, multimodal solutions with highest efficiencies and effectiveness. The group offers freight forwarding, liner agency, vessel agency, bulk cargo handling, stevedoring, project cargo handling, and feeder vessel services. In addition to these traditional services, the Group has recently ventured into the emerging FTWZ business, offering end-to-end integrated contract logistics services including warehousing, distribution, freight forwarding and Customs clearance.

FIXED ASSETS

Land
Buildings
Plant and Equipment
Furniture and Fixtures
Vehicles
Ships Vessels
Office Equipment
Computer Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration:

No 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.65.74
UK Pound	1	Rs.99.53
Euro	1	Rs.73.79

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	TRI

Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		46

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

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