MIRA INFORM REPORT

Report No. :	342769
Report Date :	03.10.2015

IDENTIFICATION DETAILS

Name :	VIZAG GENERAL CARGO BERTH PRIVATE LIMITED
Registered Office :	SIPCOT Industrial Complex, Madurai Bye Pass Road, T. V. Puram P.O, Thoothukudi – 628002, Tamilnadu
Tel. No.:	91-461-6612591
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.04.2010
Com. Reg. No.:	18-075408
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U35100TN2010PTC075408
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCV3277E
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is the energy management company engaged in mechanization of coal handling facilities and up gradation for handling of coking coal and steam coal on design, builds, finance, operates and transfer basis. It also provide cargo handling facility services, terminal details services, operating procedure services solutions including port rule, submission of pre arrival document. It also offered constructing new berth alongside old berth and installation of ship loaders, construction of conveyor system to transfer cargo from ship to stockyard.
No. of Employees :	Approximately (30 - Permanent and 200 - Contract Basis)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Vedanta Limited” (formerly known as Sesa Sterlite Limited). It is an established company incorporated in the year 2010 having satisfactory track record. The company has incurred huge accumulated losses. However, The rating derives strength from its holding company and its experienced management. Further, the rating also takes into consideration rich experience of its promoter’s and achievement of the company as “The Visakhapatnam Port Trust” awarded VGCB a 30-year concession for mechanizing and modernizing the coal berth at the outer harbor of Vishakhapatanam port, on a build-finance-operate-and-transfer basis. Trade relations are reported as fair. Business is active. Payments terms are reported as usually correct and as per commitment. In view of the aforesaid, 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	CRISIL
Rating	Long Term Rating=AA (SO)
Rating Explanation	High degree of safety and very low credit risk
Date	14.09.2015

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. P. Giri
Designation :	Associate Finance Officer
Contact No.:	91-9030021009
Date :	30.09.2015

LOCATIONS

Registered Office :	SIPCOT Industrial Complex, Madurai Bye Pass Road, T. V. Puram P.O, Thoothukudi – 628002, Tamilnadu, India
Tel. No.:	91-461-6612591 (10 Lines)
Mobile No.:	91-9030021009 (Mr. P. Giri)
Fax No.:	91-461-2340203
E-Mail :	arvindkumar@vedanta.co.in comp.sect@vedanta.co.in Manoj.Patil@vedanta.co.in
Website :	www.vgcb.co.in www.vedantasources.com
Communication Office :	Administrative Building, Eastern Stack Yard, Visakhapatnam Port Trust, Visakhapatnam– 530035, Andhra Pradesh, India
Tel. No.:	91-891-2795696
Fax No.:	91-891-2795698

DIRECTORS

AS ON 26.06.2014

Name :

Mr. Dindayal Jalan

Designation :

Director

Address :

Ashoka Towers, Apartment No. 807, Tower D, 63/74, Dr. S. S. Rao Marg, Parel, Mumbai-400012, Maharashtra, India

Date of Birth/Age :

29.09.1956

Date of Appointment :

20.04.2010

DIN No.:

00006882

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	U27100TN2002PLC068737	STERLITE OPPORTUNITIES AND VENTURES LIMITED	Director	13/10/2005	13/10/2005	-	Amalgamated	NO
2	U63032MH2003PTC142871	LAKECITY VENTURES PRIVATE LIMITED	Director	26/09/2006	26/09/2006	12/03/2009	Active	NO
3	U10300CT2006PLC020006	MADANPUR SOUTH COAL COMPANY LIMITED	Director	16/11/2007	28/02/2007	22/04/2009	Active	NO
4	L13209GA1965PLC000044	VEDANTA LIMITED	Whole-time director	01/10/2014	30/10/2007	-	Active	NO
5	L40101PB2007SGC031035	TALWANDI SABO POWER LIMITED	Director	30/09/2008	01/09/2008	19/01/2012	Active	NO
6	L65990TN1975PLC062634	STERLITE INDUSTRIES (INDIA) LIMITED	Whole-time director	24/12/2012	24/12/2008	-	Amalgamated	NO
7	U13209GA1965PLC000030	SESA RESOURCES LIMITED	Director	25/09/2009	11/06/2009	19/07/2013	Active	NO
8	U13209GA1969PLC000091	SESA MINING CORPORATION LIMITED	Director	25/09/2009	11/06/2009	-	Active	NO
9	U35100TN2010PTC075408	VIZAG GENERAL CARGO BERTH PRIVATE LIMITED	Director	20/04/2010	20/04/2010	-	Active	NO
10	U35100TN2011PTC079116	PARADIP MULTI CARGO BERTH PRIVATE LIMITED	Director	08/02/2011	08/02/2011	-	Active	NO
11	U40109TN2010PLC084216	STERLITE PORTS LIMITED	Director	07/07/2012	19/07/2011	-	Active	NO
12	U28113TN2010PLC083718	STERLITE INFRAVENTURES LIMITED	Director	07/07/2012	19/07/2011	-	Active	NO
13	U45203TN1999PLC069177	STERLITE INFRA LIMITED	Alternate director	19/01/2012	19/01/2012	15/03/2012	Amalgamated	NO
14	U61200TN2013PTC091762	MARITIME VENTURES PRIVATE LIMITED	Director	20/06/2013	20/06/2013	-	Active	NO
15	U31300TN2001PLC069645	MALCO ENERGY LIMITED	Director	26/06/2014	25/09/2013	-	Active	NO

Name :

Mr. Mansoor Siddiqi

Designation :

Director

Address :

103, Building No.12, Indra Darshan- II, Oshiwara, Andheri (West), Mumbai -400053, Maharashtra, India

Date of Birth/Age :

31.08.1953

Date of Appointment :

20.04.2010

DIN No.:

01256089

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	U31300TN2001PLC069645	MALCO Energy Limited	Director	18/02/2011	04/06/2007	25/09/2013	Active	NO
2	U35100TN2010PTC075408	VIZAG GENERAL CARGO BERTH PRIVATE LIMITED	Director	20/04/2010	20/04/2010	-	Active	NO
3	U35100TN2011PTC079116	PARADIP MULTI CARGO BERTH PRIVATES LIMITED	Director	08/02/2011	08/02/2011	-	Active	NO
4	L40101PB2007SGC031035	TALWANDI SABO POWER LIMITED	Director	22/06/2011	22/04/2011	-	Active	NO

Name :

Mr. Pratik Pravin Agarwal

Designation :

Director

Address :

403-A, 3rd Floor, Samudra Mahal, A-Wing, Opposite Lotus, Dr A.B. Road, Worli, Mumbai-400018, Maharashtra, India

Date of Birth/Age :

02.12.1982

Date of Appointment :

23.07.2011

DIN No.:

03040062

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	U40102DL2007PLC158625	EAST-NORTH INTERCONNECTION COMPANY LIMITED	Director	20/09/2010	31/03/2010	11/04/2012	Active	NO
2	U35100TN2011PTC079116	PARADIP MULTI CARGO BERTH PRIVATE LIMITED	Director	25/06/2012	07/03/2011	-	Active	NO
3	U40104PN2010PLC135953	STERLITE GRID 1 LIMITED	Director	27/09/2011	28/03/2011	16/07/2014	Active	NO
4	U35100TN2010PTC075408	VIZAG GENERAL CARGO BERTH PRIVATE LIMITED	Director	23/07/2011	28/03/2011	-	Active	NO
5	U40102DL2009PLC194071	BHOPAL DHULE TRANSMISSION COMPANY LIMITED	Director	27/09/2011	31/03/2011	11/04/2012	Active	NO
6	U40108DL2009PLC194057	JABALPUR TRANSMISSION COMPANY LIMITED	Director	27/09/2011	31/03/2011	11/04/2012	Active	NO
7	U32202DN2011PLC000373	SPEEDON NETWORK LIMITED	Director	11/07/2011	11/07/2011	-	Active	NO
8	U40109TN2010PLC084216	STERLITE PORTS LIMITED	Director	07/07/2012	19/07/2011	-	Active	NO
9	U28113TN2010PLC083718	STERLITE INFRAVENTURES LIMITED	Director	07/07/2012	19/07/2011	-	Active	NO
10	U08022KA2002NPL030879	PRAGUN JINDAL PHILANTHROPIC ORGANISATION	Director	25/07/2013	28/03/2013	-	Active	NO
11	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	22/07/2013	18/04/2013	-	Active	NO
12	L31300DN2000PLC000340	STERLITE TECHNOLOGIES LIMITED	Director	06/08/2013	26/04/2013	-	Active	NO
13	U61200TN2013PTC091762	MARITIME VENTURES PRIVATE LIMITED	Director	20/06/2013	20/06/2013	-	Active	NO
14	U74999MH2005PLC153211	STERLITE GRID 2 LIMITED	Additional director	22/01/2014	22/01/2014	16/07/2014	Active	NO
15	U33120DN2014PLC000454	STERLITE POWER GRID VENTURES LIMITED	Director	03/06/2014	03/06/2014	-	Active	NO

Name :

Mr. Allam Pallam Ramakrishnan Narayanaswamy

Designation :

Director

Address :

A-12, Archana CHS, Juhu Versova Link Road,Andheri (West), Mumbai-400053, Maharashtra, India

Date of Appointment :

31.03.2015

DIN No.:

00818169

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	U13202TZ1960PLC000372	THE MADRAS ALUMINIUM COMPANY LIMITED	Director	18/01/1995	18/01/1995	21/07/2011	Amalgamated	NO
2	U67120MH1995PTC086217	IBIS LOGISTICS PRIVATET LIMITED	Director	01/11/1995	01/11/1995	-	Active	NO
3	U72200MH1999PTC121946	IBIS-SOFTEC-SOLUTIONS PRIVATE LIMITED	Director	27/09/1999	27/09/1999	-	Active	NO
4	U15200MH1972PTC015608	MISTAIR HEALTH AND HYGIENE PRIVATE LIMITED	Director	30/09/2002	30/09/2002	22/11/2008	Active	NO
5	L31300DN2000PLC000340	STERLITE TECHNOLOGIES LIMITED	Director	13/07/2007	30/04/2007	-	Active	NO
6	U72900MH2008PTC177518	IBIS SYSTEMS AND SOLUTIONS PRIVATE LIMITED	Director	08/01/2008	08/01/2008	-	Active	NO
7	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Director	15/06/2015	30/03/2009	-	Active	NO
8	L65990TN1975PLC062634	STERLITE INDUSTRIES (INDIA) LIMITED	Director	14/07/2012	23/07/2011	-	Amalgamated	NO
9	U93090TN2009PTC071004	PRIMEX HEALTHCARE AND RESEARCH PRIVATE LIMITED	Director	03/04/2012	03/04/2012	25/06/2015	Active	NO
10	U40102DL2007PLC158625	EAST-NORTH INTERCONNECTION COMPANY LIMITED	Director	30/09/2014	16/07/2014	15/04/2015	Active	NO
11	U74999MH2005PLC153211	STERLITE GRID 2 LIMITED	Director	30/09/2014	16/07/2014	01/07/2015	Active	NO
12	U40104PN2010PLC135953	STERLITE GRID 1 LIMITED	Director	30/09/2014	16/07/2014	-	Active	NO
13	U74120MH2015FTC261727	CAITLYN INDIA PRIVATE LIMITED	Director	10/02/2015	10/02/2015	25/06/2015	Active	NO
14	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LIMITED	Director	18/06/2015	11/03/2015	-	Active	NO
15	U13209GA1965PLC000030	SESA RESOURCES LIMITED	Director	11/07/2015	30/03/2015	-	Active	NO
16	U13209GA1969PLC000091	SESA MINING CORPORATION LIMITED	Director	11/07/2015	30/03/2015	-	Active	NO
17	U31300TN2001PLC069645	MALCO ENERGY LIMITED	Director	22/06/2015	30/03/2015	-	Active	NO
18	U35100TN2010PTC075408	VIZAG GENERAL CARGO BERTH PRIVATE LIMITED	Director	31/03/2015	31/03/2015	-	Active	NO
19	U33120DN2014PLC000454	STERLITE POWER GRID VENTURES LIMITED	Director	04/08/2015	23/04/2015	-	Active	NO

Name :

Mr. Kannan Ramamirtham

Designation :

Director

Address :

Karachi Citizens Chs 205-B,New Link Road D.N. Nagar, Andheri (West), Mumbai-400053, Maharashtra, India

Date of Appointment :

31.03.2015

DIN No.:

00227980

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	U67190MH1991PTC061315	IMPERIAL CORPORATE FINANCE AND SERVICES PRIVATE LIMITED	Director	01/04/1994	01/04/1994	21/06/2010	Active	NO
2	U67120MH1995PTC088249	R K CHARI STOCK BROKING PRIVATE LIMITED	Director	21/01/2001	21/01/2001	19/10/2010	Active	NO
3	U67190MH2005PTC157752	ORIONSAYI CONSULTANT PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
4	L27203WB1960PLC024870	INDIA FOILS LIMITED	Director	30/12/2005	30/12/2005	19/11/2008	Amalgamated	NO
5	U27310TG2005PLC045171	SYNERGIES CASTINGS LIMITED	Additional director	28/03/2007	28/03/2007	01/07/2009	Active	NO
6	U70101KA2006PLC038670	PLAMA DEVELOPERS LIMITED	Director	16/08/2007	16/08/2007	28/03/2010	Active	NO
7	U63032MH2003PTC142871	LAKECITY VENTURES PRIVATE LIMITED	Director	30/09/2008	18/05/2008	-	Active	NO
8	U67190TN1995PLC069644	STERLITE ENERGY LIMITED	Director	10/10/2009	05/10/2009	04/10/2011	Amalgamated	NO
9	L22219MH1987PLC042083	ORIENT PRESS LIMITED	Director	27/09/2014	26/05/2010	-	Active	NO
10	U72200KA2010PTC054617	MENTISSOFT SOLUTIONS PRIVATE LIMITED	Director	29/07/2010	29/07/2010	31/03/2015	Active	NO
11	L24117TN1976PLC007122	SHASUN PHARMACEUTICALS LIMITED	Director	06/08/2014	30/07/2010	-	Active	NO
12	L31300MH1992PLC067802	RAM RATNA WIRES LIMITED	Director	18/08/2011	28/05/2011	-	Active	NO
13	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LIMITED	Director	19/06/2012	21/07/2011	-	Active	NO
14	U21090MH2011PTC221690	NEW LEAF EDUCATIONAL PRODUCTS PRIVATE LIMITED	Director	08/09/2011	08/09/2011	-	Active	NO
15	U74140KA1998PTC023423	REALTIME TECHSOLUTIONS PRIVATE LIMITED	Additional director	07/12/2011	07/12/2011	-	Active	NO
16	L65944MH1984PLC031807	SECURE EARTH TECHNOLOGIES LIMITED	Additional director	14/09/2012	14/09/2012	-	Active	NO
17	U45207MH2007PTC173440	PAN INDIA PARYATAN PRIVATE LIMITED	Alternate director	20/05/2015	05/10/2012	-	Active	NO
18	U28997MH1995PLC085294	R R KABEL LIMITED	Additional director	09/03/2015	09/03/2015	-	Active	NO
19	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Director	15/06/2015	11/03/2015	-	Active	NO
20	U35100TN2010PTC075408	VIZAG GENERAL CARGO BERTH PRIVATE LIMITED	Director	31/03/2015	31/03/2015	-	Active	NO
21	L24222TN1992PLC022994	ORCHID CHEMICALS AND PHARMACEUTICALS LIMITED	Additional director	28/05/2015	28/05/2015	-	Active	NO

Name :

Ms. Pooja Yadav

Designation :

Additional Director

Address :

H-351/B Jade Villas Block H, Palam Vihar, Gurgaon-122001, Haryana, India

Date of Appointment :

31.03.2015

DIN No.:

07146082

KEY EXECUTIVES

Name :	Mr. Devendra Kumar Manral
Designation :	Chief Executive Officer
Address :	3/221, Vinay Khand-3,Gomti Nagar, Lucknow-226010, Uttar Pradesh, India
PAN No.:	ADYPM9902G
Date of Appointment :	31.03.2015
Name :	Mr. Siva Ganesh Vellambi
Designation :	Chief Financial Officer
Address :	F1, Uma Maheswari Apartments, Waltair Uplands, Visakhapatnam-530003, Andhra Pradesh, India
PAN No.:	AFJPG3124P
Date of Appointment :	31.03.2015
Name :	Mr. Aravind Kumar Matta
Designation :	Secretary
Address :	D-98,Madhuranagar, Ameerpet, Hyderabad-500016, Andhra Pradesh, India
PAN No.:	ATMPM6592Q
Date of Appointment :	24.07.2015
Name :	Mr. P. Giri
Designation :	Associate Finance Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.06.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Sesa Sterlite Limited (Formally Known as Sesa Goa Limited), India	7400	74.00
Leighton Welspun Contractors Private Limited (Formally Known as Leighton Contractors (India) Private Limited), India	2600	26.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 26.06.2014

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is the energy management company engaged in mechanization of coal handling facilities and up gradation for handling of coking coal and steam coal on design, builds, finance, operates and transfer basis. It also provide cargo handling facility services, terminal details services, operating procedure services solutions including port rule, submission of pre arrival document. It also offered constructing new berth alongside old berth and installation of ship loaders, construction of conveyor system to transfer cargo from ship to stockyard.

Products/ Services :

Item Code No.	Product/ Service Description
99671900	Develop, establish, construct, operate and maintain a project related to mechanization of Coal Handling Facilities and Upgradation of General Cargo Berth at outer harbour of Visakhapatnam port (the "Project") under Design, Build, Finance, Operate and Transfer ("DBFOT") basis.

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Cash, Payment and Cheque

Purchasing :

Cash, Payment and Cheque

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

Others

No. of Employees :

Approximately (30 - Permanent and 200 - Contract Basis)

Bankers :

Bank Name	Axis Bank Limited
Branch	Vishakhapatanam, Andhra Pradesh, 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

• Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India
• ICICI Bank Limited

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Non-convertible debentures intercorporate (Non Convertible Debentures are secured by 1.1 times of the face value of outstanding debentures, by way of charge on the fixed assets of the Company.)	3000.000	0.000
Rupee Term Loan from Axis Bank Limited	0.000	2926.740
Other loans and advances	941.163	780.758
SHORT-TERM BORROWINGS
Other loans and advances	25.523	23.098
Total	3966.686	3730.596

Financial Institutions:	Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address:	Mumbai, Maharashtra, India
PAN No:	AADFD5357J
Memberships :	Not Available
Collaborators :	Not Available
(As on 31.03.2014)
Holding Company :	· Sesa Sterlite Limited (Formerly Sesa Goa Limited)
Ultimate Holding Company:	Volcan Investments Limited*
Fellow Subsidiaries:	Bharat Aluminium Company Limited Talwandi Sabo Private Limited Maritime Ventures Private Limited
Associates:	Sterlite Technologies Limited

* No transactions with these parties during the year

CAPITAL STRUCTURE

AFTER 26.06.2014:

Authorised Capital : Rs. 500.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 321.080 Million

As On: 26.06.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs. 500.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	(514.880)	(151.264)	(8.147)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	167.980	167.980	0.000
Total Shareholders’ Funds (1) + (2)	(346.800)	16.816	(8.047)
(3) Non-Current Liabilities
(a) long-term borrowings	5441.163	5205.949	2578.577
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	5441.163	5205.949	2578.577
(4) Current Liabilities
(a) Short term borrowings	25.523	23.098	21.725
(b) Trade payables	69.582	0.000	0.000
(c) Other current liabilities	1085.953	1001.642	298.994
(d) Short-term provisions	5.294	0.000	0.000
Total Current Liabilities (4)	1186.352	1024.740	320.719
TOTAL	6280.715	6247.505	2891.249
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5800.364	5904.110	2.360
(ii) Intangible Assets	3.723	5.375	0.000
(iii) Capital work-in-progress	22.379	7.056	2401.668
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	28.997	8.191	447.757
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5855.463	5924.732	2851.785
(2) Current assets
(a) Current investments	214.631	80.125	7.059
(b) Inventories	3.220	0.000	0.000
(c) Trade receivables	80.650	13.250	0.000
(d) Cash and cash equivalents	6.829	0.205	0.556
(e) Short-term loans and advances	109.392	229.193	13.830
(f) Other current assets	10.530	0.000	18.019
Total Current Assets	425.252	322.773	39.464
TOTAL	6280.715	6247.505	2891.249

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1104.600	5.300	NA
		Other Income			NA
		TOTAL	1104.600	5.300	NA
Less	EXPENSES		757.300	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		347.300	NA	NA
	PROFIT BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT AFTER TAX		(363.600)	(115.396)	(27.580)
	Earnings Per Share (Rs.)		(36360.00)	(11539.60)	(2758.00)

Particulars	31.03.2015
Sales Turnover (Approximately)	1590.000

Expected Sales (2015-2016 ) : Rs. 2100.000 Million

The above information has been parted by Mr. P. Giri (Associate Finance Officer)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	382.173	(132.088)	(29.974)
Net cash flows from (used in) operating activities	382.173	(132.088)	(29.974)

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt /Networth)	15.76	310.96	(323.14)
Current Ratio (Current Asset/Current Liability)	0.36	0.31	0.12

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	0.100	0.100	0.100
Reserves & Surplus	(8.147)	(151.264)	(514.880)
Share Application money pending allotment	167.980	167.980	0.000
Net worth	159.933	16.816	(514.880)
long-term borrowings	2578.577	5205.949	5441.163
Short term borrowings	21.725	23.098	25.523
Total borrowings	2600.302	5229.047	5466.686
Debt/Equity ratio	(323.139)	310.957	(15.763)

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	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	Yes
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	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

COMPANY'S OVERVIEW:

The Company has been set up to develop, establish, construct, operate and maintain a project related to mechanization of Coal Handling Facilities and Upgradation of General Cargo Berth at outer harbour of Visakhapatnam port (the Project) under Design, Build, Finance, Operate and Transfer (DBFOT) basis. A 'Concession Agreement' entered into between the Company and Board of Trustees for Vishakhapatnam Port (the Concessioning Authority) granted the Company an exclusive licence for designing, engineering, financing, constructing, equipping, operating and maintaining the Project.

The Concession is granted for a period of 30 years commencing from 8 October, 2010 i.e. Date of Award of Concession. The Company started its commercial operations effective 15 March, 2013. The Company is entitled to recover tariff notified from time to time by the Tariff Authority for Major Ports, from the users of Project Facilities and Services. On the expiry of the Concession period the Company shall transfer the Project Assets to the Concessioning Authority in accordance with the Concession Agreement.

FINANCIAL PERFORMANCE

During FY 2014 the Companys total income was Rs. 1104.600 Million as against Rs. 5.300 Million for FY 2013. The earnings before interest, depreciation and taxes for the FY 2014 were Rs. 347.300 Million and earnings after taxes were negative Rs. 363.600 Million. The previous year figures cannot be compared with current year figures since the Company started its commercial operations only on March 15, 2013.

MANAGEMENT DISCUSSION AND ANALYSIS

Indian Economy and Infrastructure sector

During FY 2014, the Indian economy has had to overcome varied challenges including unsupportive external environment, domestic structural constraints, growth slowdown and inflationary pressures in its resolve to sustain its economic success. The growth slowdown in India is broadly in sync with trends in similar emerging economies. The slowdown manifested in the decline in the growth of GDP from 6.7 per cent in 2011-12 and 4.5 per cent in 2012-13. With the economy estimated to have registered a growth rate of 4.9 per cent in 2013-14 and further expected to grow at 5 percent in 2014-2015, the declining trend in growth seems to have reversed.

The efforts of sustaining growth of the economy has placed increasing stress on physical infrastructure i.e. electricity, railways, roads, ports, irrigation, water supply and sanitation, all of which already suffer from deficit in terms of capacities as well as efficiencies. Although Government opened up the infrastructure sector for private sector participation, a slowdown in GDP growth, rising inflation and interest rates, a depreciating currency and a negative investment climate diluted sponsors' ability to support projects. Further inadequacy of regulatory framework and inefficiency in the approval process delayed the implementation of infrastructure projects. However, off late, the government is considering the policy measures for reviving the growth of sector.

Port Sector in India

Ports in India play a vital role in the economic development of the country. They facilitate international trade and commerce by providing an interface between the ocean transport and land-based transport. Maritime transport caters to about 95 per cent by volume and 70 per cent by value of the country's international trade. With a coastline of more than 7,517 km in length, the Indian port sector encompasses 13 major (12government and 1 corporate) and about 200 non-major ports.

A rising need for robust port infrastructure, strong growth potential and sops provided by State Governments provide private players opportunities to venture into the sector. The Government of India introduced the performance based tariff structure which is expected to pave way for increased investment flows into the port sector. The Maritime Agenda 2010-2020 is an initiative of the Shipping Ministry to outline the framework for the

development of the port sector with a target capacity of over 3 billion tonnes by 2020, largely through private sector participation. However the Ports in India are stuck with delayed projects as a number of major project tenders collapsed due to prolonged tendering process and delays in granting clearances to developers severally affecting the viability of projects. The inordinate delays have derailed the Union governments plans to triple cargo-handling capacity at Indian ports by attracting private investments and have met limited success.

India’s major ports, which look after approximately 61 per cent of the country’s total cargo traffic, handled 555.50 million metric tonnes (MMT) of cargo during FY 14 (tentative as published by Indian Ports Association) as compared to 545.79 MMT over the corresponding FY 13, registering a growth of 1.78 per cent. The growth was marginal mainly on account of unprecedented decrease in volumes of Iron Ore and Fertilizers over the previous year.

Business Overview

The Company was incorporated on April 20, 2010 pursuance to the Letter of Award by Vishakhapatnam Port Trust (VPT) a major port, for the purpose of Mechanizing and Modernizing the General Cargo Berth at the outer Harbor of Vishakhapatnam Port. The Company entered into Concession Agreement with Vishakhapatnam Port Trust on June 10, 2010 for strengthening of Berth for 200,000 DWT capacity vessels and mechanization of complete Coal based Cargo handling facilities for General Cargo Berth (GCB) at Vizag Port, Visakhapatnam. The Company has been awarded Concession effective from October 08, 2010 for a period of 30 years.

The Company started its commercial operations post obtaining provision COD in January 2013 which was subsequently issued with a final COD in April 2013. Although the Company started its commercial operations post COD, various internal as well as external factors affected the operations of the Company during the year. The initial bottlenecks in the systems affecting the continuous operations were attended to on priority, however the external factors inter alia non-completion of dredging of approach/entrance channel to handle the 200,000 DWT vessels, which was critical rationale behind the project, severally affected the cargo throughput, inspite of systems being ready to handle better volumes. The Company pursued the matter with VPT repeatedly but with no significant progress. In such case, in order to bring the severity of issues to VPT notice, the Management was constrained to issue notice for termination of concession agreement for VPTsevents of default under Concession Agreement. Subsequently VPT hold various rounds of discussions with VGCB management and finally completed the dredging in January 2014. Subsequent to completion of dredging the Company handled its first cape vessel in the Month of March 2014.

Barring the external impediments faced by the Company, during the year the Company set various including discharge of 1,08,050 MT of steam coal in a day highest ever in the east coast of India, dispatch of 155 number of rakes in the month of March 2014 highest ever by any terminal in Visakhapatnam Port. The Visakhapatnam Port appreciated the Company’s efforts for bringing operational efficiencies in environmental friendly way in the Port. The Management of Company is hopeful that on the strength of its handling systems and operational efficiencies, the Company shall achieve better throughput in the year ahead.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWING
Fully convertible debentures intercorporate	1500.000	1498.451
Total	1500.000	1498.451

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
The Company has export obligations of Rs. 3058.807 Million (previous year Rs. 3058.807) against the import licenses taken for import of capital goods under Export Promotion Capital Goods and Advance Licenses. In case the Company does not meet the required export obligation it has to pay the duty saved amount against the said import licenses along with interest.	382.351	382.351

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10445795	22/05/2015 *	750,000,000.00	AXIS TRUSTEE SERVICES LIMITED	Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, INDIA	C56313398
2	10274335	12/03/2014 *	200,000,000.00	YES BANK LIMITED	9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India	C00606137

FIXED ASSETS

Tangible Assets:

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· 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 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.65.55
UK Pound	1	Rs.99.17
Euro	1	Rs.73.07

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	HRS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

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.