MIRA INFORM REPORT

Report No. :	347477
Report Date :	31.10.2015

IDENTIFICATION DETAILS

Name :	L&T HYDROCARBON ENGINEERING LIMITED (w.e.f. 21.05.2013)
Formerly Known As :	L&T TECHNOLOGIES LIMITED
Registered Office :	L&T House, N.M. Marg, Ballard Estate, Mumbai – 400 001, Maharashtra
Tel. No.:	91-22-67525656
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	02.04.2009
Com. Reg. No.:	11-191426
Capital Investment / Paid-up Capital :	Rs.15000.500 Million
CIN No.: [Company Identification No.]	U11200MH2009PLC191426
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUML07478C
PAN No.: [Permanent Account No.]	AABCL5967D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in manufacturing and trading of engineering goods. Its services includes modular fabrication solution services, procurement services, project management services, construction services and commissioning solution services.
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

A (68)

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 42300000
Status :	Good
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Larsen and Toubro Limited”, India. It is engaged in manufacturing and trading of engineering goods. Its services includes modular fabrication solution services, procurement services, project management services, construction services and commissioning solution services. For the financial year ended 2014, the company has reported decent revenue of Rs. 87167.900 Million and it has maintained above average profitability margins at 1.21 during the year under a review. The rating reflects company’s strategic importance and strong management and financial support from, its parent backed by well experience management team and strong market presence of parent entity in engineering sector. Rating strengths is partially offset by the company’s susceptibility to intense competition, especially in the international markets and cyclicality in the hydrocarbon engineering, procurement, and construction (EPC) segment, resulting in fluctuations in its operating margin. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, 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	CRISIL
Rating	Long term rating = AAA
Rating Explanation	Highest degree of safety and carry lowest credit risk.
Date	19.12.2014

Rating Agency Name	CRISIL
Rating	Short term rating = A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	19.12.2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION DECLINED

Management non-cooperative

Tel. No.: 91-22-61774200

LOCATIONS

Registered Office :	L&T House, N.M. Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-67525656
Fax No.:	91-22-67525693
E-Mail :	subhodh.shetty@larsentoubro.com
Website :	www.lntenc.com
Head Office :	West Block, Ground Floor, L&T Knowledge City, N.H. No. 8, Vadodara – 390019 Gujarat, India
Oil & Gas and Special Projects (India) :	North Block-II, 4th Floor, Powai Campus, Saki-Vihar Road, Mumbai - 400072, Maharashtra, India
Floating & Subsea Systems :	North Block-II, 6th Floor, Powai Campus, Saki-Vihar Road, Mumbai - 400072, Maharashtra, India
Refinery Projects (India) :	L&T-Knowledge City, Gr Floor, West Block NH No. 8, Vadodara - 390019, Gujarat, India
Gas Processing, Fertilizer, Modular Process Plants and Thermal & Cryogenic Systems :	EPC Block, 2nd floor, 'B' Wing, Powai Campus, Saki-Vihar Road Mumbai - 400072, Maharashtra, India
Petrochemical Projects (India) :	L&T-Knowledge City, Gr Floor, West Block NH No.8, Vadodara - 390019, Gujarat, India
Hydrocarbon Process Plant Construction / Hydrocarbon Pipelines :	CRR Centre, 4th Floor, PO Box 979, Mount Poonamallee Road, Manapakkam, Chennai – 600089, Tamil Nadu, India
Overseas Offices :	Located At: · UAE · Oman · Qatar · Saudi Arabia · Bahrain · Kuwait · CIS · Africa · Indonesia · Malaysia

DIRECTORS

AS ON 12.08.2014

Name :

Mr. Krishnamurthi Venkataramanan

Designation :

Managing Director

Address :

Varsha, Flat No.401, Janki Kutir, Juhu, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

11.12.1944

Date of Appointment :

01.10.2015

DIN No.:

00001647

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	U28920MH1994PLC083035	L AND T CHIYODA LIMITED	Director	17/11/1994	17/11/1994	10/08/2007	Active	NO
2	U74210MH1995PLC088099	L&T-SARGENT & LUNDY LIMITED	Director	05/05/1995	05/05/1995	23/04/2008	Active	NO
3	U74899DL1995PLC070704	BHILAI POWER SUPPLY COMPANY LIMITED	Director	12/09/1997	12/09/1997	19/01/2010	Active	NO
4	U31101WB1997PLC083434	HPL COGENERATION LIMITED	Director	31/08/1998	31/08/1998	06/05/2008	Amalgamated	NO
5	U65910MH1997PLC108179	L&T FinCorp Limited	Director	22/02/1999	22/02/1999	19/01/2010	Active	NO
6	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Managing director	01/04/2012	28/05/1999	01/10/2015	Active	NO
7	U74210KA2004PLC035094	LANDT-VALDEL ENGINEERING LIMITED	Director	05/04/2005	05/04/2005	11/03/2013	Active	NO
8	U40100MH2006PLC160413	L&T POWER LIMITED	Director	09/03/2006	09/03/2006	18/10/2010	Active	NO
9	U29119MH2006PTC165102	L&T- MHPS BOILERS PRIVATE LIMITED	Director	09/10/2006	09/10/2006	20/02/2008	Active	NO
10	U74140DL2008NPL181389	INSTITUTE OF PROJECT MANAGEMENT CERTIFICATION	Director	25/07/2008	25/07/2008	10/03/2014	Active	NO
11	U61100TN2010PTC077217	L&T SAPURA SHIPPING PRIVATE LIMITED	Director	28/09/2012	04/09/2010	10/01/2014	Active	NO
12	U11200TN2010PTC077214	L&T SAPURA OFFSHORE PRIVATE LIMITED	Director	28/09/2012	04/09/2010	10/01/2014	Active	NO
13	U40102PB2007PLC031039	NABHA POWER LIMITED	Director	07/09/2011	07/10/2010	09/03/2012	Active	NO
14	U40103MH2010PLC209313	L&T PowerGen Limited	Director	22/10/2010	22/10/2010	03/03/2012	Active	NO
15	U13203OR1999PTC005673	RAYKAL ALUMINIUM COMPANY PRIVATE LIMITED	Director appointed in casual vacancy	25/10/2010	25/10/2010	28/01/2012	Active	NO
16	U27100GJ2009PTC055901	KESUN IRON AND STEEL COMPANY PRIVATE LIMITED	Director	08/09/2011	17/12/2010	15/03/2012	Active	NO
17	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Director	01/10/2015	13/05/2013	-	Active	NO

Name :

Mr. Hariharan Narayanaswamy

Designation :

Director

Address :

1505/1506, Sparkle City of Joy, Station Road, Mulund (West), Mumbai – 400 080, Maharashtra, India

Date of Birth/Age :

08.12.1952

Date of Appointment :

22.08.2013

DIN No.:

00001668

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	U72100MH2000PTC128799	L AND T EMSYS PRIVATE LIMITED	Director	28/07/2010	01/07/2005	-	Strike off	NO
2	U74300MH1999PTC121395	CLARITY ADVERTISING AGENCY PRIVATE LIMITED	Director	26/07/2005	01/07/2005	-	Active	NO
3	U70102MH2007PTC176291	L&T INFRA AND PROPERTY DEVELOPMENT PRIVATE LIMITED	Director	29/11/2007	29/11/2007	-	Strike off	NO
4	U74200MH2007PLC176358	L&T REALTY LIMITED	Director	30/11/2007	30/11/2007	25/03/2008	Active	NO
5	U26955MH2007PTC176430	L&T CONCRETE PRIVATE LIMITED	Director	04/12/2007	04/12/2007	-	Strike off	NO
6	U45203MH2008PTC178526	L&T TRANSCO PRIVATE LIMITED	Director	05/02/2008	05/02/2008	26/03/2008	Amalgamated	NO
7	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Director	22/08/2013	02/04/2009	28/09/2015	Active	NO
8	U27100GJ2009PTC055901	KESUN IRON AND STEEL COMPANY PRIVATE LIMITED	Director	11/06/2010	15/10/2009	17/12/2010	Active	NO
9	U31501MH2007PLC176667	L&T ELECTRICALS AND AUTOMATION LIMITED	Director	08/08/2011	13/01/2010	-	Active	NO
10	U67190MH2000PLC125653	L & T CAPITAL COMPANY LIMITED	Director	28/04/2010	28/04/2010	-	Active	NO
11	U65910MH1997PLC108179	L&T FinCorp Limited	Director	30/07/2010	30/07/2010	21/02/2012	Active	NO
12	U40100MH2006PLC160413	L&T POWER LIMITED	Director appointed in casual vacancy	18/10/2010	18/10/2010	20/12/2010	Active	NO
13	U31401UR2006PLC032329	L & T UTTARANCHAL HYDROPOWER LIMITED	Director appointed in casual vacancy	25/11/2010	25/11/2010	22/03/2012	Active	NO
14	U13203OR1999PTC005673	RAYKAL ALUMINIUM COMPANY PRIVATE LIMITED	Director	24/02/2012	24/02/2012	-	Active	NO
15	U40102PB2007PLC031039	NABHA POWER LIMITED	Director	28/09/2012	09/03/2012	24/05/2013	Active	NO
16	U74999MH2004PTC146428	L&T EMPLOYEES WELFARE FOUNDATION PRIVATE LIMITED	Director	26/08/2013	24/09/2012	-	Active	NO
17	U91110MH2004PLC146416	LANDT WELFARE COMPANY LIMITED	Director	26/08/2013	24/09/2012	-	Active	NO

Name :

Mr. Ramamurthi Shankar Raman

Designation :

Director

Address :

Room No.123, 12^th Floor, Kalpataru Royale, Plot No.110, Road No.29, Sion (East), Mumbai – 400 022, Maharashtra, India

Date of Birth/Age :

20.12.1958

Date of Appointment :

22.08.2013

DIN No.:

00019798

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	U65990MH1988GAP047081	ASSOCIATION OF LEASING AND FINANCIAL SERVICES COMPANIES	Director	29/09/1997	29/09/1997	01/03/2009	Active	NO
2	U67190MH2000PLC125653	L & T CAPITAL COMPANY LIMITED	Director	29/09/2000	29/09/2000	29/03/2010	Active	NO
3	U65993TN2001PLC046691	L&T INFRASTRUCTURE DEVELOPMENT PROJECTS LIMITED	Director	26/02/2001	26/02/2001	-	Active	NO
4	U65990MH1994PLC083147	L & T FINANCE LIMITED	Director	25/04/2003	25/04/2003	20/01/2015	Active	NO
5	U66030MH2007PLC177117	L&T GENERAL INSURANCE COMPANY LIMITED	Director	27/12/2007	27/12/2007	-	Active	NO
6	L67120MH2008PLC181833	L&T FINANCE HOLDINGS LIMITED	Director	01/05/2008	01/05/2008	-	Active	NO
7	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Director	22/08/2013	02/04/2009	-	Active	NO
8	U72100MH2000PTC128799	L AND T EMSYS PRIVATE LIMITED	Director	17/07/2009	08/04/2009	-	Strike off	NO
9	U74990MH2009PTC193936	L&T TRUSTEE COMPANY PRIVATE LIMITED	Director	09/07/2009	09/07/2009	21/01/2010	Active	NO
10	U40101MH2007PLC174071	L&T POWER DEVELOPMENT LIMITED	Director	12/08/2010	22/09/2009	-	Active	NO
11	U65991MH1996PLC229572	L&T Investment Management Limited	Director	16/08/2010	20/01/2010	-	Active	NO
12	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Whole-time director	22/08/2013	01/10/2011	-	Active	NO
13	U72900MH1996PLC104693	LARSEN & TOUBRO INFOTECH LIMITED	Director	26/08/2013	03/05/2013	26/09/2015	Active	NO
14	U45203MH2008PLC180029	L&T SEAWOODS Limited	Director	29/09/2015	20/05/2013	-	Active	NO
15	U74200MH2007PLC176358	L&T REALTY LIMITED	Director	25/09/2014	22/05/2013	-	Active	NO

Name :

Mr. Vikram Singh Mehta

Designation :

Director

Address :

18, Friends Colony West, New Delhi – 110 065, India

Date of Birth/Age :

30.10.1952

Date of Appointment :

12.08.2014

DIN No.:

00041197

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	U23209DL1996PTC083423	SHELL INDIA PRIVATE LIMITED	Director	21/11/1996	21/11/1996	-	Amalgamated	NO
2	U40106WB1999PTC140439	ENVIRON ENERGY CORPORATION INDIA PRIVATE LIMITED	Director	07/06/1999	07/06/1999	26/10/2007	Active	NO
3	U23201MH1993PLC142782	BHARAT SHELL LIMITED	Director	29/09/1999	29/09/1999	-	Amalgamated	NO
4	U63010GJ2000PTC038781	HAZIRA PORT PRIVATE LIMITED	Director	11/10/2000	11/10/2000	01/10/2012	Active	NO
5	U40100GJ2000PTC038780	HAZIRA LNG PRIVATE LIMITED	Director	11/10/2000	11/10/2000	01/10/2012	Active	NO
6	L24200MH1937PLC002700	COLGATE-PALMOLIVE (INDIA) LIMITED	Director	25/07/2014	25/10/2001	-	Active	NO
7	U23209MH2001PTC134329	Aegis Gas (LPG) Private Limited	Director	26/12/2001	26/12/2001	02/04/2010	Active	NO
8	U40200GJ2002PTC044028	HAZIRA GAS PRIVATE LIMITED	Director	18/03/2002	18/03/2002	-	Amalgamated	NO
9	U24119DL2004PTC124373	SHELL BITUMEN INDIA PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Amalgamated	NO
10	U23201TN2004PTC053147	SHELL INDIA MARKETS PRIVATE LIMITED	Director	06/05/2004	06/05/2004	01/10/2012	Active	NO
11	U99999UR1928NPL002455	INDIAN PUBLIC SCHOOLS SOCIETY	Director	08/10/2005	08/10/2005	29/10/2011	Active	NO
12	U73100KA2006PTC038778	SHELL TECHNOLOGY INDIA PRIVATE LIMITED	Director	20/03/2006	20/03/2006	-	Amalgamated	NO
13	U51909KA2008PLC045558	SHELL MRPL AVIATION FUELS AND SERVICES LIMITED	Director	11/03/2008	11/03/2008	30/10/2012	Active	NO
14	L65990MH1945PLC004558	MAHINDRA AND MAHINDRA LIMITED	Director	08/08/2014	30/05/2012	-	Active	NO
15	U93000DL2012NPL236338	Brookings India	Director	26/07/2012	26/07/2012	16/08/2013	Active	NO
16	U74140MH2004PTC146033	N V ADVISORY SERVICES PRIVATE LIMITED	Director	06/09/2013	01/10/2012	-	Active	NO
17	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Director	22/08/2014	22/10/2012	-	Active	NO
18	U74140DL2012FTC246562	Brookings Institution India Private Limited	Director	21/12/2012	21/12/2012	16/08/2013	Active	NO
19	U32200MH1992PLC119108	VODAFONE INDIA LIMITED	Director	08/08/2013	21/01/2013	-	Active	NO
20	L25111KL1972PLC002449	APOLLO TYRES LIMITED.	Director	07/08/2013	06/02/2013	-	Active	NO
21	U74999DL2013NPL248687	Brookings Institution India Center	Director	21/02/2013	21/02/2013	-	Active	NO
22	L01551KA1999PLC024991	United Spirits Limited	Director	24/09/2013	19/08/2013	30/09/2014	Active	NO
23	L21090BR1918PLC000013	Hindustan Media Ventures Limited	Director	08/09/2014	21/08/2013	12/06/2015	Active	NO
24	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Director	12/08/2014	06/02/2014	-	Active	NO
25	U93000MH2013NPL251507	MAHINDRA 'ELECTORAL TRUST' COMPANY	Additional director	26/03/2014	26/03/2014	21/11/2014	Active	NO
26	L55101MH1981PLC024097	HOTEL LEELAVENTURE LIMITED	Director	18/09/2014	11/08/2014	22/09/2015	Active	NO
27	U74120MH2014NPL258367	New Democratic Electoral Trust	Additional director	24/11/2014	24/11/2014	-	Active	NO
28	L22121DL2002PLC117874	HT MEDIA LIMITED	Director	25/09/2015	20/06/2015	-	Active	NO
29	AAA-2238	TMA ESTATES LLP	Designated Partner	10/09/2010	10/09/2010	-	Active	NO

Name :

Dr. Ashok Kumar Balyan

Designation :

Director

Address :

B-45, Asiad Village, Chhota Singh Block, New Delhi – 110 049, India

Date of Birth/Age :

02.07.1951

Date of Appointment :

12.08.2014

DIN No.:

00793181

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	L74899DL1993GOI054155	OIL AND NATURAL GAS CORPORATION LIMITED	Whole-time director	23/08/2003	23/08/2003	15/07/2010	Active	NO
2	U74899DL1965GOI004343	ONGC VIDESH LIMITED	Director	15/09/2003	15/09/2003	15/07/2010	Active	NO
3	U45209GJ2004PLC044779	DAHEJ SEZ LIMITED	Director	21/09/2004	21/09/2004	30/09/2010	Active	NO
4	U40101TR2004PLC007544	ONGC TRIPURA POWER COMPANY LIMITED	Director	18/02/2005	18/02/2005	15/07/2010	Active	NO
5	U45209KA2006PLC038590	MANGALORE SEZ LIMITED	Nominee director	09/03/2006	09/03/2006	15/07/2010	Active	NO
6	L85110KA1988GOI008959	MANGALORE REFINERY AND PETROCHEMICALS LIMITED	Director	22/06/2006	22/06/2006	15/07/2010	Active	NO
7	U23209GJ2006PLC060282	ONGC Petro additions Limited	Nominee director	29/11/2006	29/11/2006	15/07/2010	Active	NO
8	U40107KA2006PLC041258	ONGC Mangalore Petrochemicals Limited	Nominee director	16/01/2007	16/01/2007	20/03/2008	Active	NO
9	U23209TG2005PTC047372	KAKINADA REFINERY AND PETROCHEMICALS PRIVATE LIMITED	Nominee director	29/03/2007	29/03/2007	23/06/2008	Active	NO
10	U85110KA1998PLC024020	PETRONET MHB LIMITED	Director	26/09/2008	13/08/2008	15/07/2010	Active	NO
11	L74899DL1998PLC093073	PETRONET LNG LIMITED	Managing director	30/06/2011	20/02/2009	15/07/2015	Active	NO
12	U63012GJ2003PTC041919	ADANI PETRONET (DAHEJ) PORT PRIVATE LIMITED	Director	19/07/2011	06/08/2010	15/07/2015	Active	NO
13	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Director	12/08/2014	06/02/2014	-	Active	NO

Name :

Mr. Sarthak Behuria

Designation :

Director

Address :

K-99, Hauz Khas, New Delhi – 110 016, India

Date of Birth/Age :

02.03.1952

Date of Appointment :

12.08.2014

DIN No.:

03290288

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	L40106DL1981PLC012228	SPML INFRA LIMITED	Director	26/09/2014	12/08/2010	-	Active	NO
2	U29110MH1990PLC055506	SKIL Infrastructure Limited	Director	08/12/2010	29/11/2010	01/03/2011	Amalgamated	NO
3	U72300UP1994PLC017271	SJP REAL ESTATE LIMITED	Additional director	01/01/2011	01/01/2011	01/10/2011	Amalgamated	NO
4	U24233GJ2011PTC065293	INDO BAIJIN CHEMICALS PRIVATE LIMITED	Additional director	30/05/2011	30/05/2011	-	Active	NO
5	U80302DL2001PTC113471	MODI APOLLO INTERNATIONAL GROUP PRIVATE LIMITED	Additional director	30/05/2011	30/05/2011	-	Active	NO
6	U34102PN1989PLC014807	RSB TRANSMISSIONS (I) LTD	Director	16/09/2014	04/08/2011	-	Active	NO
7	U74999DL1996PTC080090	KKM MANAGEMENT CENTRE PRIVATE LIMITED	Director	18/08/2011	18/08/2011	-	Active	NO
8	U23200MH1992PLC068905	GANDHAR OIL REFINERY (INDIA) LIMITED	Director	30/09/2014	01/09/2012	-	Active	NO
9	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Director	12/08/2014	06/02/2014	-	Active	NO

Name :

Mr. Ravindranath Kundurti

Designation :

Whole-time Director

Address :

Flat No.301, 3^rd Floor, Solitaire Building, Hiranandani, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

22.08.1950

Date of Appointment :

12.08.2014

PAN No.:

AAFPK1654F

DIN No.:

00262462

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	U28920MH1994PLC083035	L AND T CHIYODA LIMITED	Director	10/08/2006	11/05/2006	-	Active	NO
2	U74140MH2008PTC177765	L&T - GULF PRIVATE LIMITED	Director	06/08/2015	19/12/2012	-	Active	NO
3	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Whole-time director	12/08/2014	06/02/2014	-	Active	NO

Name :

Bhagyam Ramani

Designation :

Additional Director

Address :

501, Anand Co-Operative Housing Society, Juhu Versova Link Road, Andheri (West), Mumbai – 400 058, Maharashtra, India

Date of Appointment :

01.09.2015

DIN No.:

00107097

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	U65991MH2001GOI131154	IDBI TRUSTEESHIP SERVICES LIMITED	Director	11/06/2004	11/06/2004	19/09/2011	Active	NO
2	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Nominee director	24/08/2007	19/07/2007	08/05/2012	Active	NO
3	U74999DL2002PLC118123	AGRICULTURE INSURANCE COMPANY OF INDIA LIMITED	Nominee director	27/09/2007	27/09/2007	31/01/2012	Active	NO
4	U67120MH1992PLC069769	NATIONAL STOCK EXCHANGE OF INDIA LIMITED	Director	18/07/2008	29/11/2007	01/02/2012	Active	NO
5	U67190MH2005PLC153819	MILESTONE CAPITAL ADVISORS LIMITED	Nominee director	25/09/2009	30/06/2009	31/01/2012	Active	NO
6	U67200MH1972GOI016133	GENERAL INSURANCE CORPORATION OF INDIA	Director	11/11/2009	11/11/2009	01/02/2012	Active	NO
7	L65921MH1994PLC173469	Capri Global Capital Limited	Director	28/09/2013	28/07/2012	-	Active	NO
8	L29309PN1991PLC063045	INNOVENTIVE INDUSTRIES LIMITED	Director	28/09/2012	07/08/2012	29/05/2013	Active	NO
9	L67190MH1993PLC071117	CHOICE INTERNATIONAL LIMITED	Director	16/09/2013	12/02/2013	-	Active	NO
10	L26941GJ1956PLC000840	SAURASHTRA CEMENT LIMITED	Director	19/09/2014	30/05/2014	-	Active	NO
11	U66010MH2007PLC167164	IDBI Federal Life Insurance Company Limited	Director	25/09/2014	30/05/2014	-	Active	NO
12	L26940GJ1973PLC002245	GUJARAT SIDHEE CEMENT LIMITED	Director	18/09/2014	31/05/2014	-	Active	NO
13	U65990MH2006PTC161153	Capri Global Housing Finance Private Limited	Director	18/07/2015	25/09/2014	-	Active	NO
14	L40300MH1977PLC019594	LLOYDS METALS AND ENERGY LIMITED	Director	29/12/2014	27/10/2014	-	Active	NO
15	U11200MH2009PLC191426	L&T Hydrocarbon Engineering Limited	Director	01/09/2015	28/03/2015	-	Active	NO
16	L65990MH1933PLC001998	INDUSTRIAL INVESTMENT TRUST LIMITED	Additional director	30/03/2015	30/03/2015	-	Active	NO
17	U27109MH2009PTC193699	L&T SPECIAL STEELS AND HEAVY FORGINGS PRIVATE LIMITED	Director	30/09/2015	31/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Venkatesh Ramanujam
Designation :	Chief Financial Officer
Address :	Flat No.1-A, AD-60, 4^th Street, Anna Nagar, Chennai – 600 040, Tamilnadu, India
Date of Appointment :	01.05.2015
PAN No.:	AAKPV7342Q
Name :	Aradharaman
Designation :	Vice President, Chemical Plants and Systems
Name :	Mr. Ajay Jain
Designation :	General Manager Head - Proposals and Estimation
Name :	Alagappan A N
Designation :	General Manager (HCP) – UAE Operations
Name :	Ankurnaik
Designation :	Manager - Design and Engineering
Name :	Mr. Atul Sharma
Designation :	Head Business Development - HMDI, CIS and Africa (Cluster 3)
Name :	Chidambaram Ramasubramanian
Designation :	Chief F&A Officer Hydrocarbons-GCC
Name :	Curcino Richard John Gomes
Designation :	Head-Contracts
Name :	Darayas Kekubhappoo
Designation :	Senior Deputy General Manager

MAJOR SHAREHOLDERS

AS ON 12.08.2014

Names of Shareholders (Equity Shares)	No. of Shares
Larsen and Toubro Limited, India	1000049994
Subhodh Shetty jointly with Larsen and Toubro Limited, India	1
Ramamurthi Shankar Raman jointly with Larsen and Toubro Limited, India	1
Narayanaswamy Hariharan jointly with Larsen and Toubro Limited, India	1
Ramaswamy Govindan jointly with Larsen and Toubro Limited, India	1
Prasad Vishnu Shanbhag jointly with Larsen and Toubro Limited, India	1
Y.V.S. Sravankumar jointly with Larsen and Toubro Limited, India	1
Total	1000050000

Names of Shareholders (Preference Shares)	No. of Shares
Larsen and Toubro Limited, India	500000000
Total	500000000

AS ON 12.08.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing and trading of engineering goods. Its services includes modular fabrication solution services, procurement services, project management services, construction services and commissioning solution services.

Products/ Services :

Item Code No.	Product/Service Description
99542909	General construction services of other civil engineering works n.e.c.

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the Management.

Bankers :

Banker Name	The Hongkong and Shanghai Banking Corporation Limited
Branch Address	52/60, Mahatma Gandhi Road, Fort, Mumbai – 400 001, 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

· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, India

· Kotak Mahindra Bank Limited, 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India

Facilities :

Secured Loans	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
SHORT-TERM BORROWINGS
Loans repayable on demand from banks (Loans repayable on demand from banks include fund based working capital facilities viz. cash credits and demand loans. Working capital facilities and other non-fund based facilities viz. bank guarantees and letters of credit, are secured by hypothecation of inventories, book debts and receivables.)	1849.900	0.000
Other loans and advances (Short term loans and advances from banks) (Loans repayable on demand from banks include fund based working capital facilities viz. cash credits and demand loans. Working capital facilities and other non-fund based facilities viz. bank guarantees and letters of credit, are secured by hypothecation of inventories, book debts and receivables.)	898.700	0.000
Total	2748.600	0.000

Auditors :
Name :	Sharp and Tannan Chartered Accountants
Address :	Ravindra Annexe, Churchgate Reclamation, Dinshaw Vachha Road, Mumbai – 400 020, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFS2967E
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Larsen and Toubro Limited, India (CIN No.: L99999MH1946PLC004768)
Fellow Subsidiary Companies :	· L&T Valves Limited, India (CIN No.: U74999MH1961PLC012188) · L&T - Gulf Private Limited, India (CIN No.: U74140MH2008PTC177765) · L&T Sapura Shipping Private Limited, India (CIN No.: U61100TN2010PTC077217) · L&T-Valdel Engineering Limited, India (CIN No.: U74210KA2004PLC035094) · Ewac Alloys Limited, India (CIN No.: U74999MH1962PLC012315) · L&T-Sargent and Lundy Limited, India (CIN No.: U74210MH1995PLC088099) · L&T Special Steels and Heavy Forgings Private Limited, India (U27109MH2009PTC193699) · L&T Sapura Offshore Private Limited, India (CIN No.: U11200TN2010PTC077214) · Larsen and Toubro Electromech LLC, Oman · L&T Modular Fabrication Yard LLC, Oman · Larsen & Toubro Kuwait Construction General Contracting Company, WLL, Kuwait · Larsen & Toubro Heavy Engineering LLC, Oman · Larsen & Toubro International FZE, United Arab Emirates · Larsen & Toubro Atco Saudi LLC, Saudi Arabia · Larsen Toubro Arabia LLC, Saudi Arabia · L&T Electrical and Automation FZE, United Arab Emirates · L&T Shipbuilding Limited, India (CIN No.: U74900TN2007PLC065356) · L&T- MHPS Boilers Private Limited, India (CIN No.: U29119MH2006PTC165102) · Larsen & Toubro Saudi Arabia LLC, Saudi Arabia · L&T - MHPS Turbine Generators Private Limited, India (CIN No.: U31101MH2006PTC166541) · Larsen and Toubro Infotech Limited, India (CIN No.: U72900MH1996PLC104693) · L&T Hydrocarbon International LLC, United Arab Emirates · L&T Howden Private Limited, India (CIN No.: U31401MH2010PTC204403) · Larsen and Toubro (East Asia) SDN. BHD, Malaysia · L&T Geostructure LLP, India · L&T FinCorp Limited, India (CIN No.: U65910MH1997PLC108179) · PT TAMCO Indonesia, Indonesia · TAMCO Switchgear (Malaysia) SDN BHD, Malaysia
Joint Ventures :	· Toyo Engineering Company Limited, India · Pipavav Defence and Offshore Engineering Company Limited, India (CIN No.: L35110GJ1997PLC033193)

CAPITAL STRUCTURE

AS ON 12.08.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
2000000000	Equity Shares	Rs.10/- each	Rs.20000.000 Million
1000000000	Preference Shares	Rs.10/- each	Rs.10000.000 million
	Total		Rs.30000.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
1000050000	Equity Shares	Rs.10/- each	Rs.10000.500 Million
500000000	Preference Shares	Rs.10/- each	Rs.5000.000 Million
	Total		Rs.15000.500 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	15000.500	0.500	0.500
(b) Reserves & Surplus	(194.100)	(0.100)	(0.058)
(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)	14806.400	0.400	0.442
(3) Non-Current Liabilities
(a) Long-term borrowings	2600.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	359.300	0.000	0.000
(d) Long-term provisions	109.300	0.000	0.000
Total Non-current Liabilities (3)	3068.600	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	7868.100	0.000	0.000
(b) Trade payables	27088.900	0.100	0.058
(c) Other current liabilities	9069.900	0.000	0.000
(d) Short-term provisions	837.100	0.000	0.000
Total Current Liabilities (4)	44864.000	0.100	0.058
TOTAL	62739.000	0.500	0.500
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	9176.000	0.000	0.000
(ii) Intangible Assets	19.800	0.000	0.000
(iii) Capital work-in-progress	251.300	0.000	0.000
(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)	169.700	0.000	0.000
(d) Long-term Loan and Advances	1081.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	10697.800	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	210.300	0.000	0.000
(c) Trade receivables	21746.600	0.000	0.000
(d) Cash and cash equivalents	1871.100	0.500	0.500
(e) Short-term loans and advances	7269.100	0.000	0.000
(f) Other current assets	20944.100	0.000	0.000
Total Current Assets	52041.200	0.500	0.500
TOTAL	62739.000	0.500	0.500

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	87159.000	0.000	0.000
		Other Income	8.900	0.000	0.000
		TOTAL	87167.900	0.000	0.000
Less	EXPENSES
		Cost of materials consumed	31819.900	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	267.500	0.000	0.000
		Employee benefit expense	6548.400	0.000	0.000
		Other expenses	45473.700	0.000	0.014
		TOTAL	84109.500	0.000	0.014
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		3058.400	0.000	(0.014)
Less	FINANCIAL EXPENSES		419.600	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		2638.800	0.000	(0.014)
Less/ Add	DEPRECIATION/ AMORTISATION		1000.500	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX		1638.300	0.000	(0.014)
Less	TAX		581.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		1057.300	0.000	(0.014)
	EARNINGS IN FOREIGN CURRENCY		64311.000	0.000	0.000
	Earnings/ (Loss) Per Share (Rs.)		0.97	0.00	(0.28)

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
Net cash flows from (used in) operations	(690.100)	0.000	0.000
Net cash flows from (used in) operating activities	(1211.800)	0.000	0.000

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.21	0.00	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	3.51	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	2.63	0.00	(2.80)
Return on Investment (ROI) (PBT/Networth)		0.11	0.00	(0.03)
Debt Equity Ratio (Total Debt /Networth)		0.71	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.16	5.00	8.62

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	0.500	0.500	15000.500
Reserves & Surplus	(0.058)	(0.100)	(194.100)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.442	0.400	14806.400
Long-term borrowings	0.000	0.000	2600.000
Short term borrowings	0.000	0.000	7868.100
Total borrowings	0.000	0.000	10468.100
Debt/Equity ratio	0.000	0.000	0.707

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	0.000	0.000	87159.000

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	0.000	0.000	87159.000
Profit	(0.014)	0.000	1057.300
			1.21%

LOCAL AGENCY FURTHER INFORMATION

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

CHANGE IN NAME AND OBJECTS:

The Shareholders of the Company at their Extra-Ordinary General Meeting held on May 16, 2013 approved change in name of the Company from “L&T Technologies Limited” to “L&T Hydrocarbon Engineering Limited” and change in Objects of the Company in order to appropriately reflect the new business profile. During the year, the Hydrocarbon Business undertaking (“HC Undertaking”) of Larsen and Toubro Limited (L&T) was transferred to the Company with effect from 1 April 2013 (Appointed Date) pursuant to a Scheme of Arrangement approved by the Honourable Bombay High Court under Sections 391 to 394 of the Companies Act, 1956.

FINANCIAL RESULTS:

The financial results of the Company for the year include the results of HC undertaking from April 1, 2013 & hence are not comparable with those of previous year.

YEAR IN RETROSPECT:

The gross sales for the financial year were Rs.87370.300 million. The Profit before tax was Rs.1638.300 million and the Profit after tax was Rs.1057.300 million for the financial year. The profitability of the Company was adversely affected by cost over-runs in certain tightly bid international projects. Most of these projects were first of its kind with respect to size and scale, technical complexity, customer expectations and situated in remote geographic locations.

SCHEME OF ARRANGEMENT:

The Board of Directors of the Company at its Meeting held on May 22, 2013 approved a Scheme of Arrangement (the Scheme) between L&T and the Company and their respective Shareholders and Creditors.

As per the Scheme, the HC undertaking of L&T along with related assets, liabilities, specific identified reserves, employees, and other items specifically listed in the Scheme were vested and transferred to the Company on a going concern basis with effect from 1^st April 2013 (Appointed Date).

The aforementioned Scheme was sanctioned by the Honourable Bombay High Court vide its order dated 20th December 2013 and it came into effect on 16^th January 2014 (Effective Date).

The Scheme will enable the Company to achieve the following objectives:

1. Attracting and retaining domain intense talent.

2. Focused leadership and Management attention

3. Developing and strengthening competencies already built in the HC Undertaking

4. Creating a niche in the Hydrocarbon sector towards building a strong brand image.

5. Capitalizing on the global growth opportunities in Hydrocarbon sector.

6. Providing greater levels of empowerment to enhance competitiveness, increase accountability and strengthen performance culture.

7. Facilitating benchmarking with established global peers in the Hydrocarbon sector, thereby bringing in improved efficiency in its operations, enhanced competitiveness and accountability and strengthen performance culture.

UNSECURED LOAN

Particulars	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG-TERM BORROWINGS
Loans and advances from related parties (Inter Corporate borrowing from Holding Company, repayment due on 30^th April 2015)	2600.000	0.000
SHORT-TERM BORROWINGS
Loans and advances from related parties (Inter Corporate borrowing from Holding Company)	3397.000	0.000
Other loans and advances (Short term loans and advances from banks)	1722.500	0.000
Total	7719.500	0.000

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10576556	13/06/2015	21,000,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA – 390 015, GUJARAT, INDIA	C57272098
2	10570909	08/05/2015	12,000,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI – 400 001, MAHARASHTRA, INDIA	C54369772
3	10536140	10/12/2014	1,150,000,000.00	KOTAK MAHINDRA BANK LIMITED	27 BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI – 400 051, MAHARASHTRA, INDIA	C36697381

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2014 (Rs. in Million)
(a) Sales-tax liability that may arise in respect of matters in appeal	206.700
(b) Income-tax liability (including penalty) that may arise in respect of which the Company is in appeal	24.000
Total	230.700

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Computer Equipments

· Office Equipments

Intangible Assets

· Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.22
UK Pound	1	Rs.99.93
Euro	1	Rs.71.67

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	8
--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		68

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.