MIRA INFORM REPORT

Report No. :	345989
Report Date :	19.10.2015

IDENTIFICATION DETAILS

Name :	PODAR EDUCATION NETWORK PRIVATE LIMITED
Registered Office :	Podar Centre, 85, Chamarbaug, Post Office Lane, Dr Ambedkar Road, Parel, T T, Mumbai – 400012, Maharashtra
Tel. No.:	91-22-43330000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	18.09.2000
Com. Reg. No.:	11-128751
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U80200MH2000PTC128751
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into providing educational services.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

A (57)

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

Maximum Credit Limit :	USD 534000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-known company which was incorporated in the year 2000. It has satisfactory track. It has a network of 85 educational institutions spread across the nation. It has pre-primary schools under the brand name of Podar Jumbo Kids and Primary and Secondary schools under the brand name of Podar International School. As per the available financials of the year 2014, the company has good standing marked by comfortable debt level and decent profit margin. Overall financial condition of the company is sound and healthy. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments. In view of aforesaid, the company can be considered for business dealings with 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 BY

Name :	Mr. Pradeep Dhuri
Designation :	Accountant
Contact No.:	91-22-43330000
Date :	19.10.2015

LOCATIONS

Registered Office / Head Office :	Podar Centre, 85, Chamarbaug, Post Office Lane, Dr Ambedkar Road, Parel, T T, Mumbai – 400012, Maharashtra, India
Tel. No.:	91-22-43330000 / 24709392
Fax No.:	91-22-24709392
E-Mail :	roc@podar.org
Website :	http://www.podar.org

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Pavankumar Ganeshnarayan Podar

Designation :

Whole-time director

Address :

Silver Arch, 23rd Floor, 66, L. Jagmohandas Marg, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

17.01.1958

Date of Appointment :

28.07.2014

DIN No.:

00442251

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	U67120MH1978PTC020635	K AND M INDUSTRIAL FINANCE AND TRADING COMPANY PRIVATE LIMITED	DIRECTOR	02/02/1979	02/02/1979	30/03/2015	ACTIVE	NO
2	U26940MH1964PTC014633	PODAR CEMENTS PRIVATE LIMITED	DIRECTOR	23/04/1979	23/04/1979	-	ACTIVE	NO
3	U25209MH1975PTC005398	PODAR INVESTMENTS PRIVATE LIMITED	DIRECTOR	10/11/1979	10/11/1979	-	ACTIVE	NO
4	U99999MH1970PTC014901	PODAR SHAKTI SYNTHETICS PRIVATE LIMITED	DIRECTOR	10/01/1984	10/01/1984	-	ACTIVE	NO
5	U67120MH1986PTC040488	SPLENDOUR INVESTMENTS PRIVATE LIMITED	DIRECTOR	01/09/1986	01/09/1986	-	ACTIVE	NO
6	U32109MH1987PTC042496	PENTAPLAST ELECTRONICS PRIVATE LIMITED	DIRECTOR	09/02/1987	09/02/1987	28/03/2015	ACTIVE	NO
7	U31100MH1988PTC046972	WELEX ELECTRONICS PRIVATE LIMITED	DIRECTOR	11/04/1988	11/04/1988	28/03/2015	ACTIVE	NO
8	U32100MH1988PTC047708	HUNTER ELECTRONICS PRIVATE LIMITED	DIRECTOR	28/02/1989	28/02/1989	30/03/2015	ACTIVE	NO
9	U70101MH1989PTC051086	SIERRA PROPERTIES PRIVATE LIMITED	DIRECTOR	15/09/1989	15/09/1989	30/03/2015	ACTIVE	NO
10	U65990MH1992PTC070010	DAHISAR INVESTMENTS AND FINANCE PRIVATE LIMITED	DIRECTOR	30/01/1993	30/01/1993	-	ACTIVE	NO
11	U25200MH1996PTC104707	GLORIA MOULDERS PRIVATE LIMITED	DIRECTOR	24/12/1996	24/12/1996	30/03/2015	ACTIVE	NO
12	U18100MH1997PTC109586	PODAR APPARELS PRIVATE LIMITED	DIRECTOR	24/07/1997	24/07/1997	-	ACTIVE	NO
13	U72200MH2000PTC123466	PODAR SOFTWARE PRIVATE LIMITED	DIRECTOR	29/09/2012	05/01/2000	-	ACTIVE	NO
14	U80200MH2000PTC128751	PODAR EDUCATION NETWORK PRIVATE LIMITED	WHOLE-TIME DIRECTOR	28/07/2014	18/09/2000	-	ACTIVE	NO
15	U18100MH1994PTC076375	INNOVATIONS GARMENT PRIVATE LIMITED	DIRECTOR	03/02/2004	03/02/2004	14/03/2014	ACTIVE	NO
16	U91990MH2005NPL151754	PODAR EDUCATIONAL INSTITUTE	DIRECTOR	03/03/2005	03/03/2005	-	ACTIVE	NO
17	U50102MH2007PTC167645	ANANT AUTOTOOLS PRIVATE LIMITED	DIRECTOR	07/02/2007	07/02/2007	28/03/2015	ACTIVE	NO
18	U51909MH2007PTC167810	OFFSHORE TRADE INDIA PRIVATE LIMITED	DIRECTOR	13/02/2007	13/02/2007	28/03/2015	ACTIVE	NO
19	U52300MH2007PTC170268	GOODWAYS TRADING PRIVATE LIMITED	DIRECTOR	24/04/2007	24/04/2007	30/03/2015	ACTIVE	NO
20	U34300MH2007PTC170310	PAREL AUTOTOOLS PRIVATE LIMITED	DIRECTOR	25/04/2007	25/04/2007	30/03/2015	ACTIVE	NO
21	U65994MH1969PTC014332	PODAR FINANCE PRIVATE LIMITED	DIRECTOR	03/09/2007	03/09/2007	-	ACTIVE	NO
22	U74140MH2008PTC184823	GOODWAYS BUSINESS SOLUTIONS PRIVATE LIMITED	DIRECTOR	21/07/2008	21/07/2008	20/03/2015	ACTIVE	NO
23	U74140MH2008PTC184980	LOYAL BUSINESS SOLUTIONS PRIVATE LIMITED	DIRECTOR	23/07/2008	23/07/2008	20/03/2015	ACTIVE	NO
24	U65921MH1994PTC082914	SAIKRISHNA REALTORS PRIVATE LIMITED	DIRECTOR	30/09/2009	03/10/2008	28/03/2015	ACTIVE	NO
25	U22210MH2009PTC189504	PODAR MEDIA MAGAZINE AND GRAPHIC PRINTS PRIVATE LIMITED	DIRECTOR	12/01/2009	12/01/2009	-	ACTIVE	NO
26	U18109MH2010PTC205824	GOODLUCK APPARELS PRIVATE LIMITED	DIRECTOR	23/09/2011	23/01/2011	-	ACTIVE	NO
27	U22210MH2010PTC205825	SHREESAI PRINTING PRIVATE LIMITED	DIRECTOR	23/09/2011	23/01/2011	30/03/2015	ACTIVE	NO
28	U80301MH2011PTC220699	SMART START EDUCATIONS PRIVATE LIMITED	DIRECTOR	09/08/2011	09/08/2011	28/03/2015	ACTIVE	NO
29	U22222MH2011PTC222971	PAREL GRAPHIC PRINT PRIVATE LIMITED	DIRECTOR	29/09/2012	24/11/2011	-	ACTIVE	NO
30	U70101MH2011PTC222970	GOODWAYS REALTORS PRIVATE LIMITED	DIRECTOR	29/09/2012	24/11/2011	03/03/2015	ACTIVE	NO
31	U70200DL2012PTC230002	SKMVR ESTATE PRIVATE LIMITED	DIRECTOR	16/01/2012	16/01/2012	-	ACTIVE	NO
32	U29253MH2012PTC234157	NABENDU ENGINEERING PRIVATE LIMITED	DIRECTOR	03/08/2012	03/08/2012	-	ACTIVE	NO
33	U70102MH2012PTC235209	VAINAVIN REALTY PRIVATE LIMITED	DIRECTOR	31/08/2012	31/08/2012	01/04/2013	ACTIVE	NO
34	U51109WB2009PTC136165	AMAZING SUPPLIERS PRIVATE LIMITED	DIRECTOR	17/09/2013	01/04/2013	-	ACTIVE	NO
35	U45202MH2007PTC176564	LAKESIDE PROPERTIES PRIVATE LIMITED	DIRECTOR	23/08/2013	08/04/2013	-	ACTIVE	NO
36	U21000MH2013PTC250705	SHIKSHAN BOOKS & STATIONERY PRIVATE LIMITED	DIRECTOR	03/12/2013	03/12/2013	14/03/2014	ACTIVE	NO
37	U67120MH2005PTC156567	AANSAL SECURITIES SERVICES PRIVATE LIMITED	ADDITIONAL DIRECTOR	06/10/2014	06/10/2014	-	ACTIVE	NO
38	U70200MH2010PTC203648	SOUTHMINT REAL ESTATE PRIVATE LIMITED	ADDITIONAL DIRECTOR	06/04/2015	06/04/2015	-	ACTIVE	NO
39	U80904MH2015PTC267937	BORN SMART E - LEARNING PRIVATE LIMITED	DIRECTOR	31/08/2015	31/08/2015	-	ACTIVE	NO
40	AAB-1962	PODAR ADMISSION ORNAMENTUM LLP	DESIGNATED PARTNER	31/12/2013	31/12/2013	-	ACTIVE	NO

Name :

Mr. Gaurav Pavankumar Podar

Designation :

Whole-time director

Address :

Silver Arch, 23rd Floor, 66, L. Jagmohandas Marg, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

21.01.1984

Date of Appointment :

28.07.2014

DIN No.:

02835139

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	U80200MH2000PTC128751	PODAR EDUCATION NETWORK PRIVATE LIMITED	WHOLE-TIME DIRECTOR	28/07/2014	18/11/2009	-	ACTIVE	NO
2	U26940MH1964PTC014633	PODAR CEMENTS PRIVATE LIMITED	DIRECTOR	30/09/2010	18/06/2010	-	ACTIVE	NO
3	U72200MH2000PTC123466	PODAR SOFTWARE PRIVATE LIMITED	ADDITIONAL DIRECTOR	18/06/2010	18/06/2010	21/06/2010	ACTIVE	NO
4	U22210MH2009PTC189504	PODAR MEDIA MAGAZINE AND GRAPHIC PRINTS PRIVATE LIMITED	DIRECTOR	23/09/2011	09/12/2010	-	ACTIVE	NO
5	U80301MH2011PTC220699	SMART START EDUCATIONS PRIVATE LIMITED	DIRECTOR	09/08/2011	09/08/2011	-	ACTIVE	NO
6	U29253MH2012PTC234157	NABENDU ENGINEERING PRIVATE LIMITED	DIRECTOR	03/08/2012	03/08/2012	-	ACTIVE	NO
7	U70102MH2012PTC235209	VAINAVIN REALTY PRIVATE LIMITED	DIRECTOR	31/08/2012	31/08/2012	-	ACTIVE	NO
8	U91990MH2005NPL151754	PODAR EDUCATIONAL INSTITUTE	DIRECTOR	04/01/2013	04/01/2013	-	ACTIVE	NO
9	U70200DL2012PTC230002	SKMVR ESTATE PRIVATE LIMITED	DIRECTOR	26/06/2013	07/01/2013	-	ACTIVE	NO
10	U22210MH2010PTC205825	SHREESAI PRINTING PRIVATE LIMITED	DIRECTOR	30/09/2013	18/02/2013	-	ACTIVE	NO
11	U18100MH1994PTC076375	INNOVATIONS GARMENT PRIVATE LIMITED	DIRECTOR	30/09/2014	14/10/2013	-	ACTIVE	NO
12	U21000MH2013PTC250705	SHIKSHAN BOOKS & STATIONERY PRIVATE LIMITED	DIRECTOR	03/12/2013	03/12/2013	-	ACTIVE	NO
13	U74999MH2014PTC258252	SHIKSHAN KIT PRIVATE LIMITED	DIRECTOR	22/09/2014	22/09/2014	-	ACTIVE	NO
14	U70102MH2015PTC261450	PODAR PROPERTIES PRIVATE LIMITED	DIRECTOR	29/01/2015	29/01/2015	-	ACTIVE	NO
15	U65921MH1994PTC082914	SAIKRISHNA REALTORS PRIVATE LIMITED	ADDITIONAL DIRECTOR	28/03/2015	28/03/2015	-	ACTIVE	NO
16	U31100MH1988PTC046972	WELEX ELECTRONICS PRIVATE LIMITED	ADDITIONAL DIRECTOR	28/03/2015	28/03/2015	-	ACTIVE	NO
17	U32109MH1987PTC042496	PENTAPLAST ELECTRONICS PRIVATE LIMITED	ADDITIONAL DIRECTOR	28/03/2015	28/03/2015	-	ACTIVE	NO
18	U70101MH1989PTC051086	SIERRA PROPERTIES PRIVATE LIMITED	ADDITIONAL DIRECTOR	30/03/2015	30/03/2015	-	ACTIVE	NO
19	U67120MH1978PTC020635	K AND M INDUSTRIAL FINANCE AND TRADING COMPANY PRIVATE LIMITED	ADDITIONAL DIRECTOR	30/03/2015	30/03/2015	-	ACTIVE	NO
20	U80904MH2015PTC267937	BORN SMART E - LEARNING PRIVATE LIMITED	DIRECTOR	31/08/2015	31/08/2015	-	ACTIVE	NO
21	AAB-1962	PODAR ADMISSION ORNAMENTUM LLP	DESIGNATED PARTNER	01/11/2012	01/11/2012	31/01/2014	ACTIVE	NO

Name :

Mr. Harsh Pavan Podar

Designation :

Whole-time director

Address :

Silver Arch, 23rd Floor, 66, L. Jagmohandas Marg, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

17.09.1987

Date of Appointment :

28.07.2014

DIN No.:

06568389

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	U70102MH2012PTC235209	VAINAVIN REALTY PRIVATE LIMITED	DIRECTOR	30/09/2013	01/04/2013	-	ACTIVE	NO
2	U21000MH2013PTC250705	SHIKSHAN BOOKS & STATIONERY PRIVATE LIMITED	DIRECTOR	30/09/2014	14/03/2014	-	ACTIVE	NO
3	U18100MH1994PTC076375	INNOVATIONS GARMENT PRIVATE LIMITED	DIRECTOR	30/09/2014	14/03/2014	-	ACTIVE	NO
4	U80200MH2000PTC128751	PODAR EDUCATION NETWORK PRIVATE LIMITED	WHOLE-TIME DIRECTOR	28/07/2014	28/07/2014	-	ACTIVE	NO
5	U80301MH2011PTC220699	SMART START EDUCATIONS PRIVATE LIMITED	ADDITIONAL DIRECTOR	28/03/2015	28/03/2015	-	ACTIVE	NO
6	U74999MH2014PTC258252	SHIKSHAN KIT PRIVATE LIMITED	ADDITIONAL DIRECTOR	09/07/2015	09/07/2015	-	ACTIVE	NO
7	U80904MH2015PTC267937	BORN SMART E - LEARNING PRIVATE LIMITED	DIRECTOR	31/08/2015	31/08/2015	-	ACTIVE	NO

KEY EXECUTIVES

Name :	Mr. Pradeep Dhuri
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Gaurav Pavankumar Podar	2500	25.00
Harsh Pavan Podar	2500	25.00
Mamta Pavan Podar	5000	50.00
Total	10000	100.00

AS ON 25.11.2014

Names of Allottee	No. of Shares
Gaurav Pavankumar Podar	330000
Harsh Pavan Podar	330000
Mamta Pavan Podar	340000
Total	1000000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged into providing educational services.
Services :	Educational services
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 :

Bank Name	IDBI Bank Limited
Branch	IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans repayable on demand	10.000	0.100
Total	10.000	0.100

Auditors :
Name :	SUBA and Company Chartered Accountants
Address :	102, Olive Apartment. Devidas Lane Corner, Link Road, Borivali (West), Opposite Eskay Resort, Mumbai – 400103, Maharashtra, India
PAN No.:	AACPS9533Q
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Divulged

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1010000	Equity Shares	Rs.10/- each	Rs.10.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1010000	Equity Shares	Rs.10/- each	Rs.10.100 Million

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	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	186.789	117.216	77.400
(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)	186.889	117.316	77.500
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	10.000	0.100	37.780
(b) Trade payables	23.457	13.412	10.664
(c) Other current liabilities	148.956	66.391	41.065
(d) Short-term provisions	84.837	42.818	40.054
Total Current Liabilities (4)	267.250	122.721	129.563
TOTAL	454.139	240.037	207.063
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	66.575	65.368	41.221
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	5.911
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2.000	2.000	21.901
(c) Deferred tax assets (net)	5.152	2.589	0.769
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	19.229	11.000	8.220
Total Non-Current Assets	92.956	80.957	78.022
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	2.939	2.067	1.511
(d) Cash and cash equivalents	228.147	93.248	84.143
(e) Short-term loans and advances	129.987	63.759	43.298
(f) Other current assets	0.110	0.006	0.089
Total Current Assets	361.183	159.080	129.041
TOTAL	454.139	240.037	207.063

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	275.340	194.969	115.769
	Other Income	59.345	11.819	5.335
	TOTAL	334.685	206.788	121.104
Less	EXPENSES
	Administrative and Other Expenses	140.222	93.422	42.561
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	0.000
	Employees benefits expense	79.185	46.825	27.520
	Prior Period Adjustment	0.081	0.317	0.000
	TOTAL	219.488	140.564	70.081
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	115.197	66.224	51.023
Less	FINANCIAL EXPENSES	0.429	0.215	0.452
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	114.768	66.009	50.571
Less/ Add	DEPRECIATION/ AMORTISATION	7.257	6.014	5.684
	PROFIT/ (LOSS) BEFORE TAX	107.511	59.995	44.887
Less	TAX	37.938	20.179	16.272
	PROFIT/ (LOSS) AFTER TAX	69.573	39.816	28.615
	Earnings / (Loss) Per Share (Rs.)	6957.31	3981.62	2861.52

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 flow from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	25.27	20.42	24.72
Operating Profit Margin (PBIDT/Sales)	(%)	41.84	33.97	44.07
Return on Total Assets (PBT/Total Assets}	(%)	24.05	25.48	25.15
Return on Investment (ROI) (PBT/Networth)		0.58	0.51	0.58
Debt Equity Ratio (Total Debt /Networth)		0.05	0.00	0.49
Current Ratio (Current Asset/Current Liability)		1.35	1.30	1.00

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	77.400	117.216	186.789
Share Application money pending allotment	0.000	0.000	0.000
Net worth	77.500	117.316	186.889
long-term borrowings	0.000	0.000	0.000
Short term borrowings	37.780	0.100	10.000
Total borrowings	37.780	0.100	10.000
Debt/Equity ratio	0.487	0.001	0.054

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	115.769	194.969	275.340
		68.412	41.222

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	115.769	194.969	275.340
Profit	28.615	39.816	69.573
	24.72%	20.42%	25.27%

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	No
17	Details of sister concerns	No
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

INDEX OF CHAGRES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10283714	15/07/2013 *	112,700,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA  RASHTRA - 400005, INDIA	B81702136
2	10273285	28/02/2011 *	10,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA  RASHTRA - 400005, INDIA	B08695587

* Date of charge modification

FIXED ASSETS

· Land

· Building

· Furniture and Fixtures

· Computer

· Office equipment

· Electric installations

· Vehicle

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.64.96
UK Pound	1	Rs.100.53
Euro	1	Rs.73.99

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KIN
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		57

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.