MIRA INFORM REPORT

Report No. :	341534
Report Date :	23.09.2015

IDENTIFICATION DETAILS

Name :	MATHRUBHUMI PRINTING AND PUBLISHING COMPANY LIMITED
Registered Office :	Mathrubhumi Building, K P Kesava Menon Road, Calicut - 673001, Kerala
Tel. No.:	91-495-2369333 / 2366544 / 2356655 / 2356252 / 2356544 / 2369333 / 2366144 / 2368222 / 2368333 / 2360222 / 2366443 / 2369222/ 2360333 / 2760997 / 2760998
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	15.02.1922
Com. Reg. No.:	09-001522
Capital Investment / Paid-up Capital :	Rs. 1.715 Million
CIN No.: [Company Identification No.]	U22110KL1922PLC001522
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	CHNM00052D
PAN No.: [Permanent Account No.]	AAACT8521G
Legal Form :	A Closely held Public Limited Liability Company
Line of Business :	Subject is engaged in Printing and Publishing of Newspaper, Periodicals and Journals.
No. of Employees :	2000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (67)

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 3500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Not Available (Case site not working)
Comments :	Subject was incorporated in the year 1922 and it is engaged in printing and publishing of newspapers, journals and periodicals. For the financial year ended 2014, company has reported a net profit of Rs. 82.800 million on an operating income of Rs. 5800.000 million, against a net profit of Rs. 86.300 million on an operating income of Rs. 4900.000 million in 2012-13. Company possesses healthy financial profile supported by adequate net worth base and favorable liquidity position of the company. Rating also reflect company’s established market position in the newspaper industry in Kerala backed by extensive industry experience of its promoters. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. 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 = A
Rating Explanation	Adequate Degree Of Safety And Low Credit Risk
Date	22^nd June, 2015

Rating Agency Name	Crisil
Rating	Short Term Rating = A1
Rating Explanation	Very Strong Degree Of Safety And Carry Lowest Credit Risk
Date	22^nd June, 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 DENIED BY

Name :	Mr. Sanjeevan
Designation :	Finance Senior Manager
Contact No.:	91-495-2362541
Date :	21.09.2015

LOCATIONS

Registered Office :	Mathrubhumi Building, K P Kesava Menon Road, Calicut - 673001, Kerala, India
Tel. No.:	91-495-2369333 / 2366544 / 2356655 / 2356252 / 2356544 / 2369333 / 2366144 / 2368222 / 2368333 / 2360222 / 2366443 / 2369222/ 2360333 / 2760997 / 2760998
Fax No.:	91-495-2356656 / 2360062
E-Mail :	info@mathrubhumi.com mathrclt@md2.vsnl.net.in mbiclt@mpp.co.in mbiclt@gmail.com sivadas.fcs@gamil.com
Website :	www.mathrubhumi.com
Factory :	10 Location in Kerala

DIRECTORS

AS ON 19.09.2014

Name :

Thandayam Parambil Kunhikrishnan Jayarajan

Designation :

Director

Address :

Kalpaka, Tali (PO), Calicut, 673002 - Kerala, India

Date of Appointment :

20.09.2006

DIN No.:

00049770

Name :

Parayarukandy Vettath Nidhish

Designation :

Whole-Time Director

Address :

Kerala Kala, Valayanad P.O, Azchavattom, Kozhikode - 673007, Kerala, India

Date of Birth/Age :

13.03.1970

Date of Appointment :

19.09.2014

PAN No.:

ABKPN8019M

DIN No.:

00114891

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	U22110KL1922PLC001522	MATHRUBHUMI PRINTING AND PUBLISHING CO LTD	Whole-time director	19/09/2014	05/06/1984	-	Active	NO
2	U15311KL1981PTC003403	SOUBAGYAM FOOD INDUSTRIES PVT LTD	Director	20/05/1992	20/05/1992	-	Active	NO
3	U85110KL1992PTC006573	PVS MEMORIAL HOSPITAL Private Limited	Director	25/06/1992	25/06/1992	-	Active	NO
4	U60210KL1974PTC002617	SARADHI LINES PVT LTD	Managing director	12/06/1997	12/06/1997	-	Active	NO
5	U50101KL2004PTC017051	KTC AUTOMOBILES PRIVATE LIMITED	Managing director	21/04/2004	21/04/2004	-	Active	NO
6	U50101KL2004PTC017295	PVS AUTOMOTIVE COMPANY PRIVATE LIMITED	Director	01/10/2005	01/10/2005	-	Active	NO
7	U60231KL1973PTC002480	KALPAKA TRANSPORT CO PRIVATE LTD	Director	19/03/2006	19/03/2006	-	Active	NO
8	U91110KL1931NPL001527	THE MALABAR CHAMBER OF COMMERCE	Director	22/09/2006	22/09/2006	-	Active	NO
9	U50100KL2012PTC031573	KTC CARS (INDIA) PRIVATE LIMITED	Managing director	03/07/2012	03/07/2012	-	Active	NO

Name :

Maniyamkode Jinachandran Vijaya Padman

Designation :

Whole-Time Director

Address :

Vijaya Mahal, Kalpetta North P.O, Wynad, Kalpetta - 673122, Kerala, India

Date of Birth/Age :

17.04.1951

PAN No.:

ABJPV2645J

DIN No.:

00114930

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	U24119KL1986PLC004576	MALABAR ORGANICS LTD	Director	10/10/1988	10/10/1988	-	Active	NO
2	U22110KL1922PLC001522	MATHRUBHUMI PRINTING AND PUBLISHING CO LTD	Whole-time director	01/07/2014	01/07/2004	-	Active	NO

Name :

Maniyamkode Padmaprabha Veerendrakumar

Designation :

Managing Director

Address :

Ananda Mandiram Puliyarmala, Kalpetta North, Wayanad, Kalpetta - 673122, Kerala, India

Date of Birth/Age :

22.07.1936

Date of Appointment :

11.11.2010

PAN No.:

ABPPV6306E

DIN No.:

00114996

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	U22110KL1922PLC001522	MATHRUBHUMI PRINTING AND PUBLISHING CO LTD	Managing director	11/11/2010	11/11/1979	-	Active	NO
2	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	23/09/1983	23/09/1983	-	Active	NO
3	U74899DL1947PLC103246	THE PRESS TRUST OF INDIA LIMITED	Director	29/11/1984	29/11/1984	-	Active	NO

Name :

Parayarukandy Vettath Gangadharan

Designation :

Director

Address :

Kerala Kala, Valayanad P.O, Azchavattom, Kozhikode - 673007, Kerala, India

Date of Birth/Age :

08.08.1943

Date of Appointment :

08.04.1984

PAN No.:

ADHPG8318B

DIN No.:

00115031

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	U01116KL1975PTC002693	KALPAKA RUBBER PLANTATIONS PVT LTD	Managing director	28/05/1975	28/05/1975	-	Active	NO
2	U85110KL1976PTC002850	P V S HOSPITAL PVT LTD	Director	07/10/1976	07/10/1976	-	Active	NO
3	U15311KL1981PTC003403	SOUBAGYAM FOOD INDUSTRIES PVT LTD	Director	02/08/1982	02/08/1982	-	Active	NO
4	U22110KL1922PLC001522	MATHRUBHUMI PRINTING AND PUBLISHING CO LTD	Director	08/04/1984	08/04/1984	-	Active	NO
5	U85110KL1992PTC006573	PVS MEMORIAL HOSPITAL Private Limited	Director	25/06/1992	25/06/1992	-	Active	NO
6	U64204KL2000PLC013934	INDIAVISION SATELLITE COMMUNICATIONS LIMITED	Director	17/05/2000	17/05/2000	21/02/2011	Active	NO
7	U50101KL2004PTC017051	KTC AUTOMOBILES PRIVATE LIMITED	Director	21/04/2004	21/04/2004	-	Active	NO
8	U50101KL2004PTC017295	PVS AUTOMOTIVE COMPANY PRIVATE LIMITED	Director	23/07/2004	23/07/2004	-	Active	NO
9	U91110KL1931NPL001527	THE MALABAR CHAMBER OF COMMERCE	Director	28/09/2012	22/09/2006	-	Active	NO
10	U45201KL2007PTC020311	CELEBRITY VILLAS INDIA PRIVATE LIMITED	Director	06/02/2007	06/02/2007	-	Active	NO
11	U60231KL1973PTC002480	KALPAKA TRANSPORT CO PRIVATE LTD	Director	19/03/2007	19/03/2007	-	Active	NO
12	U50100KL2012PTC031573	KTC CARS (INDIA) PRIVATE LIMITED	Director	03/07/2012	03/07/2012	-	Active	NO

Name :

Parayarukandy Vettath Chandran

Designation :

Whole-Time Director

Address :

Kerala Kala, Valayanad P.O, Azchavattom, Kozhikode - 673007, Kerala, India

Date of Appointment :

01.09.2014

PAN No.:

ACEPC5244J

DIN No.:

00115059

Name :

Anakkara Vadakath Madhavan Achuthan

Designation :

Whole-Time Director

Address :

B 505, Som Vihar Apartments, R K Puram, New Delhi - 110022, Delhi, India

Date of Appointment :

19.09.2014

DIN No.:

00115114

Name :

Vattaparambil Bhaskara Menon

Designation :

Director

Address :

FF 6(C) B 29, Maruti Block, Vasanth Nagar, Cochin - 682025, Kerala, India

Date of Appointment :

12.03.1979

DIN No.:

00115473

Name :

Maniyamkode Veerendrakumar Srayams Kumar

Designation :

Whole-Time Director

Address :

Anandamandiram, Puliyarmala, Kalpatta North PO, Wayanad, Wayanad - 673122, Kerala, India

Date of Birth/Age :

15.04.1967

Date of Appointment :

01.10.2013

PAN No.:

ACZPV2824L

DIN No.:

00877099

Name :

Jinachandran Maniamkode Krishnamohan

Designation :

Director

Address :

Vijaya Mahal, Kalpetta North PO, Muttil South, Wayanad - 673122, Kerala, India

Date of Appointment :

19.09.2014

DIN No.:

06714093

Name :

Usha Veerendrakumar

Designation :

Director

Address :

Puliyarmala, Ananda Mandiram, Manantody Road, Kalpetta North PO, Wayanad - 673122, Kerala, India

Date of Appointment :

19.09.2014

DIN No.:

06934064

Name :

Ratnasingh

Designation :

Additional Director

Address :

Shahir Bunglaw, West Nadakkavu, Nadakkavu, Kozhikode - 673011, Kerala, India

Date of Appointment :

20.03.2015

DIN No.:

07122889

Name :

Melarcode Dharmaraja Iyyer Venkitasubramanian

Designation :

Additional Director

Address :

Thenamoola House, Madakkimala Po, Kottathara, Wayanad - 673121, Kerala, India

Date of Appointment :

20.03.2015

DIN No.:

07124107

KEY EXECUTIVES

Name :	Sajeevan Nannat
Designation :	Secretary
Address :	Flat No B2, Mrg Saranya Apartments, Vellat Lane, Thrissur, Thrissur - 680001, Kerala, India
PAN No.:	ADMPN5476E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Shareholding Details File Attached.

Equity Share Break up (Percentage of Total Equity)

As on 19.09.2014

Category	Percentage
Directors or relatives of Directors	69.00
Other top fifty shareholders	21.00
Others	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Printing and Publishing of Newspaper, Periodicals and Journals.

Products :

Product Code	Description of Product/Services
4902	News Paper
4902	Periodicals

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

CompanyName :	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 :

Company Name :	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 :

2000 (Approximately)

Bankers :

Banker Name :	State Bank of Travancore
Branch :	Main Branch, Kannur Road, Calicut - 673001, Kerala, India
Person Name (With Designation) :	Not Available
Contact Number :	Not Available
Name of Account Holder :	Not Available
Account Number :	Not Available
Account Since (Date/Year of Account Opening) :	Not Available
Average Balance Maintained :	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Available
Account Operation :	Not Available
Remark :	Not Available

• Canara Bank, Cherooty Road, Calicut, Calicut - 673001, Kerala, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Term loans from banks	732.275	969.311
Deferred Payment Liabilities	165.126	138.634
Short Term Borrowings
Working capital loans from banks	644.238	493.872
Total	1541.639	1601.817

Auditors :
Name :	K.K. Thampan and Company Chartered Accountants
Address :	"Govardhan", Madhavan Nair Road, Chalapuram, Calicut – 673002, Kerala, India
PAN No.:	AACFK7805K
Collaborators :	Not Divulged
Membership :	Not Divulged
Associates/Subsidiaries :	Kerala Transport Company KTC Automobile (Private) Limited KTC Offset Printers Kalpaka Advertising Agency Klapaka Service Station Mavoor Treade Links PVS Autombiles PVS Hospitals Deshadan Cliff and Beach Resorts, Trivandrum

CAPITAL STRUCTURE

AS ON 19.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7,000	Equity Shares	Rs. 500/- each	Rs. 3.500 Million

Issued Capital:

No. of Shares	Type	Value	Amount
7,000	Equity Shares	Rs. 500/- each	Rs. 3.500 Million

Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
3,429	Equity Shares	Rs. 500/- each	Rs. 1.715 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	1.715	1.715	1.715
(b) Reserves & Surplus	1252.994	1231.495	1199.316
(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)	1254.709	1233.210	1201.031
(3) Non-Current Liabilities
(a) long-term borrowings	897.401	1107.945	750.318
(b) Deferred tax liabilities (Net)	19.139	36.114	29.059
(c) Other long term liabilities	368.116	356.134	305.321
(d) long-term provisions	135.736	117.901	82.256
Total Non-current Liabilities (3)	1420.392	1618.094	1166.954
(4) Current Liabilities
(a) Short term borrowings	644.238	493.872	305.761
(b) Trade payables	699.389	570.508	425.476
(c) Other current liabilities	1163.816	825.811	665.672
(d) Short-term provisions	366.141	508.656	688.497
Total Current Liabilities (4)	2873.584	2398.847	2085.406
TOTAL	5548.685	5250.151	4453.391
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2870.484	2619.522	1863.055
(ii) Intangible Assets	142.695	165.384	145.490
(iii) Capital work-in-progress	365.407	556.978	281.906
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.734	0.734	0.734
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	154.334	126.525	384.969
(e) Other Non-current assets	66.191	56.979	52.790
Total Non-Current Assets	3599.845	3526.122	2728.944
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	433.357	332.829	327.847
(c) Trade receivables	900.082	747.701	605.142
(d) Cash and cash equivalents	254.244	174.158	185.054
(e) Short-term loans and advances	359.936	468.471	603.440
(f) Other current assets	1.221	0.870	2.964
Total Current Assets	1948.840	1724.029	1724.447
TOTAL	5548.685	5250.151	4453.391

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	5781.305	4906.500	4226.073
		Other Income	45.586	36.258	76.201
		TOTAL SALES	5826.891	4942.758	4302.274
Less	EXPENSES
	Cost of Materials Consumed		2343.162	2031.565	1847.208
	Purchase of Stock-in-trade		42.432	42.353	31.709
	Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(12.621)	1.147	(1.859)
	Employee Benefits Expenses		1168.516	1013.439	809.106
	Other Expenses		1287.683	1023.704	796.945
	Exceptional Items before Tax		(5.377)	(28.466)	0.045
	TOTAL EXPENSES		4823.795	4083.742	3483.154
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		1003.096	859.016	819.120
Less	FINANCIAL EXPENSES		305.000	243.333	182.922
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		698.096	615.683	636.198
Less	DEPRECIATION/ AMORTISATION		556.183	420.471	275.993
	PROFIT/(LOSS) BEFORE TAX (E-F)		141.913	195.212	360.205
Less	TAX		59.025	108.874	150.602
	PROFIT/(LOSS) AFTER TAX		82.888	86.338	209.603
	Earnings Per Share (Rs.)		24172.72	25179.00	61127.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long Term Debt	617.077	300.028	233.645
Cash generated from Operations	NA	NA	NA
Net Cash Flows from (used in) Operations	1183.490	129.495	883.254
Cash Flow generated from (used in) Operating Activities	1085.275	1179.179	722.484

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	1.43	1.76	4.96
Operating Profit Margin (PBDIT/Sales)	(%)	17.35	17.51	19.38
Return on Total Assets (PBT/Total Assets)	(%)	2.74	4.16	8.64
Return on Investment (ROI) (PBT/Networth)		0.11	0.16	0.30
Debt Equity Ratio (Total Debt /Networth)		1.72	1.54	1.07
Current Ratio (Current Asset/Current Liability)		0.68	0.72	0.83

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	1.715	1.715	1.715
Reserves & Surplus	1199.316	1231.495	1252.994
Net worth	1201.031	1233.210	1254.709
long-term borrowings	750.318	1107.945	897.401
Short term borrowings	305.761	493.872	644.238
Current Maturities of Long term debt	233.645	300.028	617.077
Total borrowings	1289.724	1901.845	2158.716
Debt/Equity ratio	1.074	1.542	1.720

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	4226.073	4906.500	5781.305
		16.101	17.830

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	4226.073	4906.500	5781.305
Profit	209.603	86.338	82.888
	4.96%	1.76%	1.43%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	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

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10504232	05/03/2014	240,000,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, KANNUR ROAD, CALICUT, KERALA - 673001, INDIA	C07359904
2	10452354	26/08/2013	160,000,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, KOZHIKODE, CALICUT, KERALA-673001, INDIA	B86381449
3	10331235	22/07/2013 *	848,400,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, KOZHIKODE, CALICUT, KERALA-673001, INDIA	B84547298
4	10282859	22/07/2013 *	600,000,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, KOZHIKODE, CALICUT, KERALA-673001, INDIA	B84535624
5	10291166	22/07/2013 *	350,000,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, KOZHIKODE, CALICUT, KERALA-673001, INDIA	B84820448
6	10184406	22/07/2013 *	206,200,000.00	STATE BANK OF TRAVANCORE	MAIN BRANCH, KOZHIKODE, CALICUT, KERALA-673001, INDIA	B84357029
7	10141524	20/12/2008	200,000,000.00	STATE BANK OF TRAVANCORE	KOZHIKODE MAIN BRANCH, KANNUR ROAD, CALICUT, KERALA - 673003, INDIA	A56422215
8	10106255	28/05/2008	68,000,000.00	STATE BANK OF TRAVANCORE	KOZHIKODE MAIN BRANCH, KOZHIKODE, KERALA-673001, INDIA	A39767884
9	10106256	08/05/2008	30,000,000.00	STATE BANK OF TRAVANCORE	KOZHIKODE MAIN BRANCH, KOZHIKODE, KERALA - 673001, INDIA	A39764501
10	10049243	03/03/2007	111,600,000.00	CANARA BANK	CHEROOTY ROAD, CALICUT, CALICUT, KERALA - 673001, INDIA	A13714514

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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. 65.63
UK Pound	1	Rs. 73.26
Euro	1	Rs. 101.73

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KRN
Report Prepared by :	SYL

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
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	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		67

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.