MIRA INFORM REPORT

Report No. :	341267
Report Date :	15.09.2015

IDENTIFICATION DETAILS

Name :	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED (w.e.f. 01.12.2008)
Formerly Known As :	INDIAN OILTANKING LIMITED
Registered Office :	Plot No. Y2, CTS 358, A/2, Village Bhandup, Off Ceat Tyre Road, Near Nahur Station, Bhandup (West) , Mumbai - 400078, Maharashtra
Tel. No.:	91-22-61524700
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.08.1996
Com. Reg. No.:	11-102222
Capital Investment / Paid-up Capital :	Rs. 3194.100 Million
CIN No.: [Company Identification No.]	U23200MH1996PLC102222
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMI02683C
PAN No.: [Permanent Account No.]	AAACI6794E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is mainly engaged in the business of Engineering, Procurement and Construction services.
No. of Employees :	Information Declined by the management

RATING & COMMENTS

MIRA’s Rating :

A (56)

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 29000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track. Rating takes into consideration sound financial risk profile of the company marked by strong networth base and overall decent financials. However, company has incurred losses from its operations in FY14. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment. In view of strong government and foreign holdings, the company can be considered 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	FITCH
Rating	Term Loan = “IND AA-(SO)”
Rating Explanation	High degree of safety and very low credit risk.
Date	November 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 31-03-2015.

INFORMATION DENIED

Management Non-Cooperative (91-22-61524700)

LOCATIONS

Registered Office :	Plot No. Y2, CTS 358, A/2, Village Bhandup, Off Ceat Tyre Road, Near Nahur Station, Bhandup (West) , Mumbai - 400078 , Maharashtra, India
Tel. No.:	91-22-61524700
Fax No.:	91-22-61524777
E-Mail :	girish.shrivastava@oiltanking.com info@oiltalking.com jatin.mavani@oiltanking.com
Website :	http://www.iotinfraenergy.com
Branch Office :	103, Spectra Hiranandani Business Park, Powai, Mumbai - 400076, Maharashtra, India
Regional Office :	Located at: · Delhi · Kolkata · Chennai · Guwahati · Goa

DIRECTORS

As on 31.03.2015

Name :

Mr. Samirkumar Barua

Designation :

Director

Address :

House No. 421, Iim Campus, Vastrapur, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

21.09.2010

DIN No :

00211077

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	U51900MH1994PLC078303	STCI Finance Limited	Director	24/06/1997	24/06/1997	22/09/2012	Active	NO
2	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Director	29/01/1999	29/01/1999	01/06/2008	Active	NO
3	U65991MH2003PTC138496	SBI MUTUAL FUND TRUSTEE COMPANY PRIVATE LIMITED	Director	29/06/2004	29/06/2004	03/10/2007	Active	NO
4	U24231HR1980PTC044172	RECKITT BENCKISER HEALTHCARE INDIA Private Limited	Director	01/06/2006	01/06/2006	11/04/2011	Active	NO
5	L23109WB1973GOI028844	COAL INDIA LTD GOVT OF INDIA UNDERTAKING	Director	04/08/2010	24/08/2007	04/08/2013	Active	NO
6	L65990MH1978PLC020080	MARATHON NEXTGEN REALTY LIMITED	Director	28/01/2008	28/01/2008	03/06/2008	Active	NO
7	L31200GJ2004PLC044068	TORRENT POWER LIMITED	Director	28/07/2014	29/01/2008	-	Active	NO
8	L23220MH1952GOI008931	BHARAT PETROLEUM CORPORATION LIMITED	Director	22/09/2008	20/05/2008	23/11/2012	Active	NO
9	U64201GJ2008NPL054773	IIMA IDEA TELECOM CENTRE OF EXCELLENCE	Director	14/08/2008	14/08/2008	13/09/2010	Active	NO
10	U73100GJ2008NPL054284	CIIE INITIATIVES	Director	24/12/2008	24/12/2008	31/03/2010	Active	NO
11	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Director	21/09/2010	01/09/2010	-	Active	NO
12	U10102CT1985GOI003161	SOUTH EASTERN COALFIELDS LIMITED	Director	27/09/2010	27/09/2010	01/11/2011	Active	NO
13	L65110GJ1993PLC020769	Axis Bank Limited	Director	22/06/2012	22/07/2011	-	Active	NO
14	L74899DL1993GOI054155	OIL AND NATURAL GAS CORPORATION LIMITED	Director	24/09/2012	14/12/2011	14/12/2014	Active	NO
15	U51900MH2005PLC157853	Axis Capital Limited	Director	24/06/2015	14/01/2013	-	Active	NO
16	U40102GJ2008PLC052898	TORRENT ENERGY LIMITED	Director	25/07/2014	25/07/2014	-	Active	NO
17	U45203AP1979PLC057431	TATA PROJECTS LIMITED	Director	03/08/2015	25/03/2015	-	Active	NO
18	U40108GJ2007PLC051822	TORRENT PIPAVAV GENERATION LIMITED	Director	23/06/2015	23/06/2015	-	Active	NO

Name :

Mr. Imtaiyazur Rahman

Designation :

Director

Address :

E-402, Dheeraj Heritage Residency II, Daulat Nagar, Santacruz West, Mumbai - 400054, Maharashtra, India

Date of Appointment :

30.09.2014

DIN No :

01818725

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	U66020MH2007GOI176785	UTI RETIREMENT SOLUTIONS LIMITED	Director	14/12/2007	14/12/2007	11/04/2008	Active	NO
2	U74996DL2006PTC153957	INVEST INDIA MICRO PENSION SERVICES PRIVATE LIMITED	Director	01/08/2008	01/08/2008	26/04/2013	Active	NO
3	U65900MH2011PTC217430	UTI CAPITAL PRIVATE LIMITED	Director	13/05/2011	13/05/2011	-	Active	NO
4	U65991MH1995NPL092062	ASSOCIATION OF MUTUAL FUNDS IN INDIA	Additional director	14/02/2012	14/02/2012	27/09/2012	Active	NO
5	U74140KA2008PTC047396	ASCENT CAPITAL ADVISORS INDIA PRIVATE LIMITED	Nominee director	28/02/2012	28/02/2012	19/08/2013	Active	NO
6	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Director	30/09/2014	21/11/2013	-	Active	NO

Name :

Mr. Padmanabhan Sugavanam

Designation :

Director

Address :

No.119, Smr Vinaycascades, Near Jagadish Nagar, Thimmarayappa Garden, Thippasandra Post, Bangalore - 560075, Karnataka, India

Date of Appointment :

21.09.2010

DIN No :

03229120

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	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Director	21/09/2010	01/09/2010	-	Active	NO
2	L17100MH1909PLC000294	SWAN ENERGY LIMITED	Whole-time director	22/09/2011	24/09/2010	-	Active	NO
3	U45400DL2007PTC166733	SANMARG PROJECTS PRIVATE LIMITED	Director	13/09/2012	23/09/2011	-	Active	NO
4	U40108GJ2013PTC073539	SWAN LNG Private Limited	Director	24/05/2013	24/05/2013	-	Active	NO
5	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	30/09/2014	18/09/2013	-	Active	NO
6	U72200TG2006PTC049297	GERAB INDIA ENGINEERING PRODUCTS PRIVATE LIMITED	Additional director	03/03/2015	03/03/2015	-	Active	NO
7	U45208OR2009PLC011389	IOT UTKAL ENERGY SERVICES LIMITED	Director	10/06/2015	31/03/2015	-	Active	NO

Name :

Mr. Vivek Venkatachalam

Designation :

Managing Director

Address :

121, Ellai Ammancolony, 5th Cross St, V Teynampet, Chennai - 600086, Tamilnadu, India

Date of Appointment :

01.01.2015

DIN No :

03275434

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	U29253KA2010PLC053834	GE TRIVENI LIMITED	Nominee director	25/08/2011	01/11/2010	06/12/2011	Active	NO
2	U34300TN2007PTC081587	GE POWER CONVERSION INDIA PRIVATE LIMITED	Additional director	22/03/2012	22/03/2012	29/05/2014	Active	NO
3	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Managing director	01/01/2015	12/07/2014	-	Active	NO
4	U40107TN2007PTC065671	IOT MABAGAS Private Limited	Director	30/09/2014	19/08/2014	-	Active	NO
5	U74120MH2011PTC220464	KATOEN NATIE IOT Private Limited	Director	02/07/2015	30/10/2014	-	Active	NO

Name :

Mr. Franz Christian Flach

Designation :

Director

Address :

Wischhoff 17, Sereetz, 23611, Germany

Date of Appointment :

27.09.2011

DIN No :

03377640

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	U40107TN2007PTC065671	IOT MABAGAS Private Limited	Director	07/06/2011	31/03/2011	-	Active	NO
2	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Director	27/09/2011	31/03/2011	-	Active	NO

Name :

Mr. Rajiv Bahl

Designation :

Director

Address :

Flat No. 632, Maruti Mane Block, Asiad Village, New Delhi - 110049, India

Date of Appointment :

30.09.2014

DIN No :

05279237

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	U25190DL2010PTC205324	Indian Synthetic Rubber Private Limited	Director	22/08/2012	01/05/2012	20/03/2015	Active	NO
2	U74899DL1998PTC097297	INDIANOIL PETRONAS PRIVATE LIMITED	Nominee director	19/02/2013	19/02/2013	13/11/2014	Active	NO
3	U74999DL2009PTC193079	Delhi Aviation Fuel Facility Private Limited	Director	27/09/2013	30/07/2013	24/09/2014	Active	NO
4	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Director	30/09/2014	01/07/2014	-	Active	NO

Name :

Mr. Ashok Balasubramanian

Designation :

Director

Address :

Flat No. 42, Casa Grande C.H.S.L., Little Gibbs Road, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Appointment :

30.09.2014

DIN No :

06861345

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	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Whole-time director	27/08/2014	16/07/2014	-	Active	NO
2	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Director	30/09/2014	24/07/2014	-	Active	NO
3	L40101TN1965GOI005389	CHENNAI PETROLEUM CORPORATION LIMITED	Nominee director	20/08/2014	24/07/2014	-	Active	NO

Name :

Mr. Nandini Ravindra Jhala

Designation :

Nominee Director

Address :

209-C, Vikas Towers, Opp.: Amboli Railway Crossing, Andheri(East), Mumbai- 400069, Maharashtra, India

Date of Appointment :

10.10.2014

DIN No :

06991426

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	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Nominee director	10/10/2014	10/10/2014	-	Active	NO
2	U45204MH2010PTC200970	IOT INFRASTRUCTURES PRIVATE LIMITED	Additional director	23/12/2014	23/12/2014	-	Active	NO
3	U45208OR2009PLC011389	IOT UTKAL ENERGY SERVICES LIMITED	Director	10/06/2015	12/02/2015	-	Active	NO
4	U29199GJ1998PLC034128	IOT ANWESHA ENGINEERING AND CONSTRUCTION LIMITED	Additional director	27/03/2015	27/03/2015	-	Active	NO

Name :

Mr. Anish Aggarwal

Designation :

Additional Director

Address :

32 A, Mansarovar Apartments, Sector 61, Noida Gautam Budh Nagar, Noida, 201301, Uttar Pradesh, India

Date of Appointment :

03.02.2015

DIN No :

06993471

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	U45203MH1997PLC108251	PETRONET INDIA LIMITED	Director	28/07/2015	05/12/2014	-	Active	NO
2	L23201MH1959GOI011388	INDIAN OIL CORPN. LIMITED	Additional director	01/02/2015	01/02/2015	-	Active	NO
3	U23200MH1996PLC102222	IOT INFRASTRUCTURE AND ENERGY SERVICES LIMITED	Additional director	03/02/2015	03/02/2015	-	Active	NO

Name :

Mr. Koen Jozef Maria Verniers

Designation :

Additional Director

Address :

22 Ewart Park, Singapore, 279759, Singapore

Date of Appointment :

03.02.2014

DIN No :

07080269

Name :

Mr. Sonke Stein

Designation :

Additional Director

Address :

T6 F6, Favray Court, Tigne, Sliema, 1010, Malta

Date of Appointment :

20.02.2015

DIN No :

07098165

KEY EXECUTIVES

Name :	Mr. Jatin Jamnadas Mavani
Designation :	Secretary
Address :	B-602, Cottage Land, Sector -19A, Nerul, Navi Mumbai – 400 706, Maharashtra, India
Date of Birth/Age :	22.09.1958
Date of Appointment :	11.04.1997
PAN No :	AAHPM7153R

MAJOR SHAREHOLDERS

As on 30.09.2014

Note: Shareholding and Allottees details file attached.

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Government companies	47.94
Venture Capital	3.85
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	47.94
Directors or relatives of Directors	0.27
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is mainly engaged in the business of Engineering, Procurement and Construction services.

Products / Services :

Product/Services Description	Item Code No. (ITC Code)
Construction contracts and Engineering service	99532629

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

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

No. of Employees :

Information Declined by the management

Bankers :

• State Bank of India, Corporate Accounts Group, Neville House, Ballard Estate, Mumbai – 400 001, Maharashtra, India
• Standard Chartered Bank, 90, M.G. Road, Fort, Mumbai – 400 001, Maharashtra, India
• Dhanalakshmi Bank Limited, Dhanalakshmi Bank Building, Naickanal, Trichur-680001, Kerala, India
• Allahabad Bank, Plot No. A-2, Model Town Cooperative Housing Society, J.V.P.D., Mumbai-400029, Maharashtra, India
• Bank of Maharashtra, Industrial Finance Branch, Apeejay House, Dr. V.B. Gandhi Marg, Fort, Mumbai – 400 023, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from bank	1158.300	295.600
SHORT TERM BORROWING
Working capital loans from banks	3657.600	2941.700
Total	4815.900	3237.300

Auditors :
Name :	B. S. R. and Company Chartered Accountants
Address :	Floor, Apolo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai - 400011, Maharashtra, India
PAN No.:	AAIFB4734C
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	Stewarts and Lyods of India Limited (S & L) CIN No.: L28999WB1937PLC009099 IOT Engineering and Construction Services Pte. Limited (IOTECS Singapore) IOT Engineering Projects Limited (IOTEP) IOT Infrastructures Private Limited (step-down subsidiary) IOT Anwesha Engineering and Construction Limited (IOT Anwesha) IOT Anwesha Engineering and Construction LLC Oman (step-down subsidiary) Indian Oiltanking Engineering and Construction Services LLC (IOTECS Oman) IOT Design and Engineering Limited (IOTDE) IOT Canada Limited Newsco International Energy Services Inc. (step-down subsidiary) Newsco Support Services Inc.(step-down subsidiary) Newsco Directional Drilling (Peru) SAC (step-down subsidiary) Newsco USA Inc. (step-down subsidiary) Telematrix USA Inc. (step-down subsidiary) Newsco International Energy Services Cyprus Limited (step-down subsidiary) Newsco FZE Sharjah (step-down subsidiary) PT IOT Energy Services Indonesia (step-down subsidiary) PT IOT EPC Indonesia IOT Utkal Energy Services Limited
Joint Controlled and Significant Influence :	Indian Oil Corporation Limited (IOCL) Oiltanking GmbH (OT) Macquards and Bahls (M and B)
Associates :	Mabanaft Pte Limited
Joint venture :	Zuari Indian Oiltanking Limited (ZIOTL) Indian Oil Skytanking Limited (IOSL) IOT Mabagas Limited Katoen Natie IOT Logistics Limited Jabal EILIOT Limited IOT Mabagas Limited

CAPITAL STRUCTURE

After 30.09.2014

Authorised Capital : Rs. 7500.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 5547.035 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500000000	Equity Shares	Rs.10/- each	Rs. 5000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
319409429	Equity Shares	Rs.10/- each	Rs. 3194.100 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	3194.100	2424.400	2423.638
(b) Reserves & Surplus	6936.900	6221.700	5516.777
(c) Money received against share warrants	0.000	0.400	0.000
(2) Share Application money pending allotment	0.000	0.000	1.175
Total Shareholders’ Funds (1) + (2)	10131.000	8646.500	7941.590
(3) Non-Current Liabilities
(a) long-term borrowings	2212.300	1525.500	1944.466
(b) Deferred tax liabilities (Net)	0.000	10.600	244.829
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	47.000	55.300	80.634
Total Non-current Liabilities (3)	2259.300	1591.400	2269.929
(4) Current Liabilities
(a) Short term borrowings	4657.600	4664.700	606.007
(b) Trade payables	6313.500	7662.000	6701.175
(c) Other current liabilities	2987.200	2066.300	1090.382
(d) Short-term provisions	593.600	349.500	184.939
Total Current Liabilities (4)	14551.900	14742.500	8582.503
TOTAL	26942.200	24980.400	18794.022
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3166.600	3379.500	3301.265
(ii) Intangible Assets	79.000	69.500	77.151
(iii) Capital work-in-progress	976.000	52.800	43.015
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	6674.800	4112.300	4068.528
(c) Deferred tax assets (net)	698.800	0.000	0.000
(d) Long-term Loan and Advances	949.100	2100.100	905.889
(e) Other Non-current assets	270.900	266.100	39.525
Total Non-Current Assets	12815.200	9980.300	8435.373
(2) Current assets
(a) Current investments	450.400	0.000	300.092
(b) Inventories	315.100	721.300	148.037
(c) Trade receivables	3871.300	3444.500	3511.191
(d) Cash and cash equivalents	1088.700	120.000	318.971
(e) Short-term loans and advances	1456.800	1088.400	976.894
(f) Other current assets	6944.700	9625.900	5103.464
Total Current Assets	14127.000	15000.100	10358.649
TOTAL	26942.200	24980.400	18794.022

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	11330.000	18549.700	15930.123
	Other Income	321.100	399.000	681.192
	TOTAL (A)	11651.100	18948.700	16611.315
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000	12017.845
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	477.200	(370.800)	(34.412)
	Employees benefits expense	1255.100	1005.400	943.950
	Other expenses	11017.300	16658.700	1556.599
	Exceptional item before tax	263.500	0.000	0.000
	TOTAL (B)	13013.100	17293.300	14483.982
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(1362.000)	1655.400	2127.333
Less	FINANCIAL EXPENSES (D)	577.900	424.900	267.508
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(1939.900)	1230.500	1859.825
Less/ Add	DEPRECIATION/ AMORTISATION (F)	285.400	285.300	270.052
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(2225.300)	945.200	1589.773
Less	TAX (H)	(709.400)	240.700	474.189
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(1515.900)	704.500	1115.584
	EARNINGS IN FOREIGN CURRENCY	4726.600	3.700	339.962
	Earnings / (Loss) Per Share (Rs.)	(5.70)	2.91	4.75

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	692.400	499.900	548.106
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	504.000	(2317.200)	1492.085

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(13.38)	3.80	7.00
Operating Profit Margin (PBDIT / Sales)	(%)	(12.02)	8.92	13.35
Return on Total Assets (PBT/Total Assets}	(%)	(11.97)	4.54	10.83
Return on Investment (ROI) (PBT/Networth)		(0.22)	0.11	0.20
Debt Equity Ratio (Total Debt /Networth)		0.68	0.72	0.32
Current Ratio (Current Asset/Current Liability)		0.97	1.02	1.21

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	2423.638	2424.4	3194.1
Reserves & Surplus	5516.777	6221.7	6936.9
Money received against share warrants	1.175	0.4	0
Share Application money pending allotment	0.000	0.000	0.000
Net worth	7941.590	8646.500	10131.000
long-term borrowings	1944.466	1525.5	2212.3
Short term borrowings	606.007	4664.7	4657.6
Current Maturities of Long-Term Debts	548.106	499.900	692.400
Total borrowings	3098.579	6690.100	7562.300
Debt/Equity ratio	0.390	0.774	0.746

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	15930.123	18549.700	11330.000
		16.444	(38.921)

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	15930.123	18549.700	11330.000
Profit	1115.584	704.500	(1515.900)
	7.00%	3.80%	(13.38%)

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 four 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	No
35	Negative Reporting by Auditors in the Annual Report	No

Note:

The registered office of the company has been shifted from Navghar Dronagirinode, NH-4B, Navi Mumbai- 400707, Maharashtra, India to present address w.e.f. 31.10.2007

ECONOMIC OVERVIEW

After slowing to 4.5% in 2012-13, GDP growth picked up marginally to average 4.7% in 2013-14. Despite this marginal improvement the Indian economy grew at its slowest pace in a decade at sub-5 per cent levels, on the back of dismal performance by the farm, manufacturing and services sectors due to a protracted process of addressing the economy’s fundamental challenges by the UPA government.

The economic slowdown since 2012-13 was reflected in all sectors of the economy during the year, but the industrial sector suffered the sharpest deceleration to 2.9 per cent in 2013-14 from 8.2 per cent in 2010 - 11.

SECTOR OVERVIEW

The year continued to be a difficult one for the Infrastructure and EPC sectors, due to sharp drop in demand, prolonged delays caused mostly by decision and policy making paralysis in Government and severe liquidity crunch due to the inability of sponsors to provide finance. Most companies, including IOT, suffered heavy losses, to which, inter alia, the following factors contributed:

BUSINESS

TERMINALLING

At Navghar Terminal, capacity utilisation increased from 92% in 2012 -13 to 100% in 2013-14. Renewal of naphtha export contracts coupled with potential re-entry of private petroleum marketers are expected to keep occupancy at near 100% levels for the next couple of years.

During the year under review, IOT signed a Terminalling Services Agreement for a new Terminal to be set up in Raipur, which embodies the Common User Terminal (CUT) Concept that has been strongly advocated by IOT over the years. It has finally gained acceptance with the Indian Petroleum Industry and the Government in view of its cost-effectiveness and efficiency. Construction of the Terminal began in early September

2013 and is running on schedule.

The land acquisition for Tatanagar Common User Terminal project is nearing completion with about three acres of the remaining portion expected to be completed by September 2014. Critical approvals to be obtained at this stage from PESO and Indian Railways were done.

Environmental approval was been obtained after successful completion of the public hearing process.

Land acquisition for the third Common User Terminal planned in central India neared completion with commercial discussions with Oil Companies expected to commence by December 2014.

On the O&M business front, IOT secured new contracts for three HPC terminals at Bhatinda, Paradip and Vadinar through a competitive tendering process with the contracts for O&M of five HPC Terminals on Mundra-Delhi Pipeline expected to get renewed in the first quarter of 2014-15. However at OMPL (Mangalore), the business lost out in the bids for contract renewals at Oil India’s Tenghakhat Terminal and HMPL.

After successful implementation at Navghar and Palanpur terminals, Enterprise Asset Management (EAM) system was implemented at Chennai LPG facilities, Mundra, Ajmer, Jaipur and Bahadurgarh Terminals. The Company intends to start the system at Paradip BOOT project after uploading as built drawings and documents.

FINANCIAL RESULTS

The company basis achieved Revenues of Rs 11651.100 Million and profit before tax (PBT) of Rs. (2225.400) Million against revenues and PBT of Rs. 18950.000 Million and Rs. 945.300 Million, respectively, achieved during the last financial year.

.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee Term Loan from Banks	1054.000	1229.900
SHORT TERM BORROWING
Loans repayable on demand	1000.000	1723.000
Total	2054.000	2952.900

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10185616	12/10/2009	260,000,000.00	DHANALAKSHMI BANK LIMITED	DHANALAKSHMI BANK BUILDING, NAICKANAL, TRICHUR- 680001, KERALA, INDIA	A73021990
2	10178813	11/08/2009	850,000,000.00	DHANALAKSHMI BANK LIMITED	DHANALAKSHMI BANK BUILDING, NAICKANAL, TRICHUR- 680001, KERALA, INDIA	A70140777
3	10089165	04/02/2008	156,200,000.00	STATE BANK OF BIKANER AND JAIPUR	G-72, CONNAUGHT CIRCUS, NEW DELHI- 110001, DELHI , INDIA	A32862823
4	90150736	27/11/2013 *	17,825,000,000.00	STATE BANK OF INDIA	CORPORATE ACCOUNTS GROUP, NEVILLE HOUSE, BALLARD  ESTATE, MUMBAI- 400001, MAHARASHTRA, INDIA

* Date of charge modification

FIXED ASSETS

Tangible Assets

· Land and Land Improvements

· Building and Building Improvements

· Plant and Machinery

· Office Equipments

· Factory Equipments

· Computer Equipments

· Furniture and Fixtures

· Vehicles

· Railway Sidings

Intangible Assets

· Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.37
UK Pound	1	Rs.102.54
Euro	1	Rs.75.32

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KIN
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	-
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	8
--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		56

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.