MIRA INFORM REPORT

Report No. :	346854
Report Date :	26.10.2015

IDENTIFICATION DETAILS

Name :	HARI KRISHNA EXPORTS PRIVATE LIMITED
Registered Office :	Unit No. 1701, “The Capital”, 17^th Floor, B wing, Plot No. C-70, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra
Tel. No.:	91-22-49173886
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.02.2012
Com. Reg. No.:	11-227014
Capital Investment / Paid-up Capital :	Rs.1207.550 Million
CIN No.: [Company Identification No.]	U36912MH2012PTC227014
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMH13959B
PAN No.: [Permanent Account No.]	AACCH8430N
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer and Exporter of Diamonds.
No. of Employees :	6000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (64)

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

Maximum Credit Limit :	USD 14000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was originally established in 1992 as a partnership firm with the name of M/s. Hari Krishna Exports and later it got converted into private limited company during 2012. It is a well-established company having fine track record. The company has reported decent sales turnover growth over previous and it has achieved 3.04% profitability margins during 2014. Rating also takes into consideration vast experience of the promoters in the diamond business backed by company’s established track record of operations, diversified clientele base across geographies and sound financial base of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view of long standing business operations backed by resourceful promoters, the company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – March 31, 2015

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

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities (Fund-based) = A
Rating Explanation	Adequate degree of safety and low credit risk.
Date	July 15, 2015

Rating Agency Name	CARE
Rating	Short term bank facilities (Non-fund based) = A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	July 15, 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. Venkat Iyengar
Designation :	Chief Finance Office
Contact No.:	91-22-49173886
Date :	23.10.2015

LOCATIONS

Registered / Head Office :	Unit No. 1701,”The Capital,” Floor, B-Wing, Plot No-70, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-49173886 / 43004300 / 2367 8111 / 12 / 13
Fax No.:	91-22-23643266
E-Mail :	mukeshshah@diamondbyhk.com info@diamondbyhk.com modivijay1956@gmail.com dnyandeo@diamondbyhk.com account@diamondbyhk.com
Website :	http://www.diamondbyhk.com
Area :	Owned
Factory/ Branch Office:	9, Hari Krishana Campus, Near Viraj Chowk, Behind Sarthana Jakat Naka, Varaccha Road, Simada Gam, Surat – 395006, Gujarat, India
Tel. No.:	91-261-6544251 / 6544252
Fax No.:	91-261-2535027
E-Mail :	surat@diamondbyhk.com
Overseas Office :	Located At : New York Belgium Hong Kong China

DIRECTORS

As On 26.05.2014

Name :

Mr. Ghanshyambhai Dhanjibhai Dholakia

Designation :

Managing Director

Address :

Flat No. 62-6, Mont Blanc Bld, Dadyseth Hill, 572, Augustkranti Marg, Mumbai – 400036, Maharashtra India

Date of Birth/Age :

01.06.1969

Date of Appointment :

01.10.2012

DIN No. :

01474986

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	U36911MH2009PTC193278	H. K. JEWELS PRIVATE LIMITED	Director	12/06/2009	12/06/2009	-	Active	NO
2	U85110GJ2010PTC062765	HARIKRISHNA LIFELINE PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
3	U65910MH2011PTC215454	HARI KRISHNA LEASING PRIVATE LIMITED	Director	29/03/2011	29/03/2011	23/04/2014	Active	NO
4	U36912MH2012PTC227014	HARI KRISHNA EXPORTS PRIVATE LIMITED	Managing director	01/10/2012	16/02/2012	-	Active	NO

Name :

Mr. Savjibhai Dhanjibhai Dholakia

Designation :

Whole-time Director

Address :

7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam Surat – 395004, Gujarat, India

Date of Birth/Age :

12.04.1962

Date of Appointment :

01.10.2012

PAN No.:

AAPPD6921Q

DIN No. :

02069387

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	U52100GJ2008PTC053405	HARIKRISHNA RETAIL PRIVATE LIMITED	Director	28/03/2008	28/03/2008	05/06/2008	Strike off	NO
2	U36911MH2009PTC193278	H. K. JEWELS PRIVATE LIMITED	Director	12/06/2009	12/06/2009	-	Active	NO
3	U85110GJ2010PTC062765	HARIKRISHNA LIFELINE PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
4	U65910MH2011PTC215454	HARI KRISHNA LEASING PRIVATE LIMITED	Director	29/03/2011	29/03/2011	23/04/2014	Active	NO
5	U36912MH2012PTC227014	HARI KRISHNA EXPORTS PRIVATE LIMITED	Whole-time director	01/10/2012	16/02/2012	-	Active	NO
6	U85190GJ2011PTC065609	DISHA EMOTIONAL GYM PRIVATE LIMITED	Director	17/05/2013	17/05/2013	-	Active	NO
7	U80301GJ2014NPL080090	Dholakia Education Foundation	Director	10/07/2014	10/07/2014	01/10/2015	Active	NO
8	U85100DL2014NPL268973	SAMAST PATIDAR AAROGYA FOUNDATION	Director	17/07/2014	17/07/2014	-	Active	NO
9	U91110GJ2000NPL039065	GUJARAT HIRA BOURSE	Director	28/09/2014	28/09/2014	-	Active	NO
10	U80903DL2014NPL272948	DHOLAKIA FOUNDATION	Director	05/11/2014	05/11/2014	-	Active	NO

Name :

Mr. Hasmukh Thakersibhai Dholakia

Designation :

Whole-time Director

Address :

201, 2^nd Floor, Yash Co-Operative Society, August Kranti Marg, Gowalia Tank, Mumbai - 400026 Maharashtra, India

Date of Birth/Age :

01.03.1974

Date of Appointment :

01.10.2012

PAN No.:

ADHPD1192Q

DIN No. :

01474973

Name :

Mr. Tulsibhai Dhanjibhai Dholakia

Designation :

Whole-time Director

Address :

7 Bhagat Nagar Society, Opposite Katargam Police Station, Katargam Surat – 395004, Gujarat, India

Date of Birth/Age :

15.04.1964

Date of Appointment :

01.10.2012

PAN No.:

AAPPD6923N

DIN No. :

03268245

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	U85110GJ2010PTC062765	HARIKRISHNA LIFELINE PRIVATE LIMITED	Director	27/10/2010	27/10/2010	-	Active	NO
2	U36912MH2012PTC227014	HARI KRISHNA EXPORTS PRIVATE LIMITED	Whole-time director	01/10/2012	16/02/2012	-	Active	NO

Name :

Kuravas Balakrishnan Rajgopalan

Designation :

Director

Date of Appointment :

14.01.2014

DIN No. :

06416811

KEY EXECUTIVES

Name :	Mr. Venkat Iyengar
Designation :	Chief Finance Office
Address :	Flat No.201, Sharda CHS., Natwar Nagar No.3, Jogeshwari (East), Mumbai - 400060, Maharashtra, India
Date of Appointment :	18.06.2014
PAN No.:	AAAPI2002E
Name :	Sheetal Nagesh Karkera
Designation :	Secretary
Address :	Mayur-1, 12, Kalash Udyan, Koperkhairne, Sector -11, Navi Mumbai - 400709, Maharashtra, India
Date of Appointment :	01.01.2014
PAN No.:	BYPPK5348P

MAJOR SHAREHOLDERS

As on 26.05.2014

Names of Shareholders (Equity Shares)	No. of Shares
Savjibhai Dhanjibhai Dholakia	2791800
Ghanshyambhai Dhanjibhai Dholakia	2378200
Himmatbhai D. Dholakia	1964600
Tulsibhai Dhanjibhai Dholakia	2378200
Hasmukh Thakersibhai Dholakia	206800
Naresh Lunagaria	310200
Bharatbhai Patel	310200
Total	10340000

Names of Shareholders (Redeemable Preferences Shares)	0%	12%	6%
Ghanshyambhai Dhanjibhai Dholakia	17122063	2800000	12000000
Savjibhai Dhanjibhai Dholakia	14585461	1700000	14000000
Hasmukh Thakersibhai Dholakia	12048859	500000	5000000
Himmatbhai D. Dholakia	14585461	--	11000000
Tulsibhai Dhanjibhai Dholakia	1268301	--	--
Naresh Lunagaria	1902451	--	--
Bharatbhai Patel	1902451	--	--
Total	63415047	5000000	42000000

As on 26.05.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	94.00
Other	6.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Diamonds.
Products :	Diamonds
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Diamonds
Countries :	United States of America Hong Kong European Countries China
Imports :	Not Available
Terms :
Selling :	Cheque and Credit (30/60 Days)
Purchasing :	Cheque and Credit (30/60 Days)

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 :

6000 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Diamond Branch, BKC, Bandra (East), Mumbai – 400051, Maharashtra, India
Person Name (With Designation)	Mr. Kumar Satyendra (Relationship Manager) Ms. Pranita (Credit Department)
Contact Number	91-22-26752304
Name of Account Holder	Hari Krishna Export Private Limited
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	1997
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Rs. 3600.000 Million (Regular working capital)
Account Operation	Good Rs. 3600.000 Million SLC Rs.470.000 Million Term Loan (Sanction)
Remarks (If any)	Banker gave us positive feedback about the subject company and they are satisfied with their banking transaction.

• Union Bank of India, Overseas Branch, Union Bank Bhavan, Ground Floor, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks	307.957	279.209
Deferred payment Indian sources	3.099	1.147
SHORT TERM BORROWINGS
Working capital loans from banks	6827.768	4706.817
Total	7138.824	4987.173

Financial Institution :	SREI Equipment Finance Limited, Vishwakarma, 86C, Topsia Road, Kolkata – 700046, West Bengal, India
Auditors :
Name :	M. M. Nisim and Company Chartered Accountants
Address :	Barowdla Mansion, B wing 3^rd Floor, 81, Dr. Annie Besant Road, Mumbai, Maharashtra, India
PAN No. :	AAAAA1111A
Memberships :	Not Available
Collaborators :	Not Available
Associates	Hari Krishna Leasing Private Limited Harikrishna Lifeline Private Limited H. K. Jewels Private Limited H. K. Designs (India) Unity Jewels

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Million
144000000	Preference Shares	Rs.10/- each	Rs.1440.000 Million
	Total		Rs.1560.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
10340000	Equity Shares	Rs.10/- each	Rs.103.400 Million
110415047	Preference Shares	Rs.10/- each	Rs.1104.150 Million
	Total		Rs.1207.550 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	1207.550	1133.550	149.400
(b) Reserves & Surplus	3694.175	2320.974	1690.451
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	70.000	634.150
Total Shareholders’ Funds (1) + (2)	4901.725	3524.524	2474.001
(3) Non-Current Liabilities
(a) long-term borrowings	493.642	455.919	345.466
(b) Deferred tax liabilities (Net)	53.065	37.656	25.777
(c) Other long term liabilities	2.078	2.078	2.078
(d) long-term provisions	28.999	22.105	16.010
Total Non-current Liabilities (3)	577.784	517.758	389.331
(4) Current Liabilities
(a) Short term borrowings	6827.768	4706.817	3292.863
(b) Trade payables	4084.455	2741.692	3584.126
(c) Other current liabilities	612.520	307.683	280.135
(d) Short-term provisions	121.171	35.923	9.218
Total Current Liabilities (4)	11645.914	7792.115	7166.342
TOTAL	17125.423	11834.397	10029.674
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2311.853	1836.030	1095.993
(ii) Intangible Assets	64.418	95.860	115.545
(iii) Capital work-in-progress	16.436	0.000	2.440
(iv) Intangible assets under development	5.618	3.700	0.000
(b) Non-current Investments	34.725	34.725	9.725
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	165.666	113.324	173.790
(e) Other Non-current assets	49.877	70.219	64.934
Total Non-Current Assets	2648.593	2153.858	1462.427
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	9371.853	6062.023	5725.791
(c) Trade receivables	4788.265	3386.771	2748.838
(d) Cash and cash equivalents	90.142	90.470	35.402
(e) Short-term loans and advances	193.907	107.834	30.061
(f) Other current assets	32.663	33.441	27.155
Total Current Assets	14476.830	9680.539	8567.247
TOTAL	17125.423	11834.397	10029.674

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	43096.764	21145.244	NA
	Other Income	52.709	126.167	NA
	TOTAL	43149.473	21271.411	NA
Less	EXPENSES	40560.529	19874.991	NA
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2588.944	1396.420	123.777
Less	FINANCIAL EXPENSES	387.569	314.265	30.164
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	2201.375	1082.155	93.613
Less/ Add	DEPRECIATION/ AMORTISATION	214.130	134.109	10.427
	PROFIT/ (LOSS) BEFORE TAX	1987.245	948.046	83.186
Less	TAX	676.409	309.676	44.277
	PROFIT/ (LOSS) AFTER TAX	1310.836	638.370	38.909
	Earnings / (Loss) Per Share (Rs.)	10.85	5.78	0.35

Particulars	31.03.2015
Sales Turnover (Approximately)	53190.000

Expected Sales (2015-16): Rs.60000.000 Million

The above information has been parted by Mr. Venkat Iyengar (Chief Financial Officer).

MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	120.462	75.411	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	1987.245	948.045	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	3.04	3.01	NA
Operating Profit Margin (PBDIT/Sales)	(%)	6.01	6.60	NA
Return on Total Assets (PBT/Total Assets}	(%)	11.64	8.04	0.83
Return on Investment (ROI) (PBT/Networth)		0.41	0.27	0.03
Debt Equity Ratio (Total Liability/Networth)		1.49	1.46	1.47
Current Ratio (Current Asset/Current Liability)		1.24	1.24	1.20

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	149.400	1133.550	1207.550
Reserves & Surplus	1690.451	2320.974	3694.175
Share Application money pending allotment	634.150	70.000	0.000
Net worth	2474.001	3524.524	4901.725
long-term borrowings	345.466	455.919	493.642
Short term borrowings	3292.863	4706.817	6827.768
Total borrowings	3638.329	5162.736	7321.410
Debt/Equity ratio	1.471	1.465	1.494

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	21145.244	43096.764
		103.813

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	21145.244	43096.764
Profit	638.370	1310.836
	3.02%	3.04%

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)	Yes
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	Yes
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

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

- Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

- The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

NOTE:

The registered address of the company has been shifted from 315, Prasad Chambers, Opera House Mumbai – 400004, Maharashtra, India to the present address w.e.f 11.02.2013

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Loans and advances from directors	96.035	169.684
Loans and advances from others	86.551	5.879
Total	182.586	175.563

FINANCIAL RESULTS

The performance of the company during the year has been outstanding. In 2013-2014, the Company’s sales grew by 103.81 % to Rs.43096.800 Million compared with Rs. 21145.200 Million in the previous year. Profit before tax grew by 109.62 % from Rs.948.000 Million to Rs. 1987.200 Million and the net profit grew by 105.34 % to 1310.800 Million.

AWARDS AND RECOGNITION

The Company’s initiatives and performance were recognized across various platforms. The Company is the proud winner of the prestigious GJEPC Awards for consecutive 11 years out of which for 10 years it received Excellence in Export Award and the last year it won The Most Innovative Company Award.

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10524458	13/10/2014	250,000,000.00	STATE BANK OF HYDERABAD	1204, ASHOK MAHAL, TULLOCH ROAD, COLABA, MUMBAI, Maharashtra - 400039, INDIA	C27082494
2	10523438	30/09/2014	100,000,000.00	THE SARASWAT CO-OPERATIVE BANK LTD	GROUND FLOOR, MADHAVA COMMERCIAL PREMISES CO.OP. SOC.LIMITED, PLOT NO. C-4, E BLOCK, BKC,BANDRA (E), MUMBAI, Maharashtra - 400051, INDIA	C24929911
3	10525117	18/09/2014	200,000,000.00	STATE BANK OF BIKANER AND JAIPUR	COMMERCIAL NETWORK BRANCH, 239P.D'MELLO ROAD, OPP. G.P.O., FORT, MUMBAI, Maharashtra - 400001, INDIA	C28878791
4	10518412	27/08/2014	357,000,000.00	UNION BANK OF INDIA	Overseas Branch, Union Bank Bhavan, Ground Floor, 239,Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra - 400021, INDIA	C19486505
5	10518014	08/08/2014	1,080,000,000.00	State Bank of India	Diamond Branch, Bharat Diamond Bourse, D-3 core, G, Block, Bandra Kurla Complex, Bandra (E), MUMBAI, Maharashtra - 400051, INDIA	C19179415
6	10511650	03/07/2014	332,800,000.00	State Bank Of India	Diamond Branch, D/3 West Core, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, INDIA	C14083380
7	10486790	03/03/2014	4,500,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, West Bengal - 700046, INDIA	C01126077
8	10450962	28/03/2014 *	150,000,000.00	State Bank of India	Diamond Branch, D/3 West Core, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, INDIA	C06654909
9	10392546	12/11/2012	1,919,000.00	Axis Bank Limited	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA	B64352263
10	10375522	20/07/2012	400,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	B57694846
11	10353182	28/04/2014 *	8,295,800,000.00	State Bank of India	State Bank of India, Diamond Branch, D-3,West core, Bharat Diamond Bours, MUMBAI, Maharashtra - 400051, INDIA	C03364148
12	10354282	28/04/2014 *	8,295,800,000.00	STATE BANK OF INDIA	STATE BANK OF INDIA, DIAMOND BRANCH, BHARAT DIAMO  ND BOURSE, D3, BLDG NO.4, MUMBAI, Maharashtra - 400051, INDIA	C03364767

* Date of charge modification

FIXED ASSETS

• land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipment

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. 64.88
UK Pound	1	Rs. 99.88
Euro	1	Rs. 72.06

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KAR
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		64

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.