MIRA INFORM REPORT

Report No. :	494994
Report Date :	01.03.2018

IDENTIFICATION DETAILS

Name :	POWER ENGINEERING (INDIA) PRIVATE LIMITED (w.e.f. 03.01.2007)
Formerly Known As :	CONSOLIDATED POWER TECHNIQUES PRIVATE LIMITED
Registered Office :	58/A, Tuem Industrial Estate, Tuem, Pedne, Goa - 403512
Tel. No.:	91-832-3061000
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	06.11.1996
Com. Reg. No.:	24-002221
Capital Investment / Paid-up Capital :	INR 59.202 Million
CIN No.: [Company Identification No.]	U31101GA1996PTC002221
IEC No.: [Import-Export Code No.]	1706001479
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCC2414P
GSTN : [Goods & Service Tax Registration No.]	Not Divulged
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacturing power generator sets and related services. (Registered Activity)
No. of Employees :	Information declined by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Power Engineering India Private Limited was incorporated in the year 1996. It is engaged in manufacturing of Electric Generating Sets and Rotary Converters. Management has failed to file its financials with Registrar of Companies for the FY 2017. As per the available financial records of 2016, the revenue of the company has decreased by 25.75% but has managed to maintain low profit margin of 0.81%. The satisfactory financial profile of the company is marked by acceptable networth base along with comfortable debt coverage indicators. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, rating is constrained on account of absence of latest financials. Business is active. Payments seems to be usually correct. In view of aforesaid, the company can be considered for 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.

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 01.03.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Mr. Ravi Chandra Dalvi
Designation :	Head of Finance and Commercial
Contact No.:	91-9623122496
Date :	28.02.2018

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-832-3292841/ 3061000)

LOCATIONS

Registered Office/ Factory :	58/A, Tuem Industrial Estate, Tuem, Pedne, Goa – 403512, India
Tel. No.:	91-832-3292841/ 3061000/3061067
Mobile No.:	91-9623122496 (Mr. Ram Chandra Dalvi)
Fax No.:	91-832-2201688
E-Mail :	corporate.peipl@paikane.com hrd@pikane.com rmdalvi@paikane.com
Website :	www.paikane.com
Location :	Leased
Locality :	Commercial
Marketing Office :	Located at Mumbai Delhi
Overseas Office :	Located at UK Dubai

DIRECTORS

As on 31.03.2017

Name :	Mr. Sunil Manohar Pai Kane
Designation :	Managing Director
Address :	Bungalow No.1, Bhobe Resudency, Green Valley, Off Chogm Road, Alto Porvorim, Bardez, Goa - 403521, India
Date of Birth/Age :	16.12.1971
Qualification :	MBA
Date of Appointment :	01.07.2014
DIN No.:	01618399
Name :	Mr. Atul Devidas Pai Kane
Designation :	Director
Address :	274/A, Satyam, Pedem Road, Mapusa, Goa - 403507, India
Date of Birth/Age :	07.03.1969
Qualification :	DFTE
Date of Appointment :	01.07.2014
PAN No.:	AEYPK0025K
DIN No.:	00453585
Name :	Mrs. Gaurapriya Atul Pai Kane
Designation :	Director
Address :	274/A, Satyam, Pedem Road, Mapusa, Goa - 403507, India
Date of Birth/Age :	31.10.1968
Qualification :	B.Sc
Date of Appointment :	27.10.2009
PAN No.:	AEYPK0026L
DIN No.:	00453780
Name :	Mr. Sachin Mohan
Designation :	Director
Address :	3, Monacolaan Geel Belgium 2440 BE
Date of Birth/Age :	04.07.1962
Qualification :	Marine Engineer
Date of Appointment :	16.07.2016
DIN No.:	01388243
Name :	Mr. Sadashiv Jayprakash Sarmalkar
Designation :	Director
Address :	H No.46, Agnelo Colony, Kerant B Wingh, Caranzalem Panaji, Goa – 403002, India
Date of Birth/Age :	22.01.1981
Qualification :	MBA
Date of Appointment :	04.02.2017
DIN No.:	01686786
Name :	Mr. Jose Jerowimo Domingos Fernandes
Designation :	Director
Address :	H. No.503, Ruzail Vaddo, Santa Cruz, Ilhas, Goa - 403505, India
Date of Birth/Age :	29.05.1970
Qualification :	Graduate
Date of Appointment :	30.09.2013
PAN No.:	AAJPF9391G
DIN No.:	02168952
Name :	Mr. Suchant Manohar Pai Kane
Designation :	Director
Address :	H No.18/B, Bainfol Assolna, Salcete, Goa – 403701, India
Date of Birth/Age :	25.12.1966
Qualification :	Mechanical Engineer
Date of Appointment :	01.02.2016
PAN No.:	AFMPK7921H
DIN No.:	03038308
Name :	Mr. Jeetendra Manohar Shende
Designation :	Additional Director
Address :	14, Silver Woods, 523, Mahatma HSG Society, Kothrud, Pune – 411029, Maharashtra, India
Date of Appointment :	17.10.2017
DIN No.:	02494390

KEY EXECUTIVES

Name :	Mr. Ravi Chandra Dalvi
Designation :	Head of Finance and Commercial

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2016

Names of Shareholders	No. of Shares	%age
Gaurapriya Atul Pai Kane	2786507	47.07
Creative Manufacturing Solutions (India) Private Limited, India	1559980	26.35
Acoustic Components Private Limited, India	485206	8.20
Sunil Manohar Pai Kane	1088533	18.38
Total	5920226	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2016

Category	Percentage
Promoters (Individual/Hindu Undivided Family-Indian)	65.45
Promoters (Body corporate)	34.55
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacturing power generator sets and related services. (Registered Activity)

Products/ Services :

Item Code No.	Product/ Services Description
85021310	Deisel Generator Set

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 :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Canara Bank
Branch	Mathias Plaza, 18th June Road, Panaji, Goa – 403001, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Facilities :

Secured Loan	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
Rupee term loans from others	46.000	47.899
Short-term borrowings
Loans repayable on demand from banks	236.801	170.613
Total	282.801	218.512

Auditors :
Name :	S. P. Bhandare and Associates Chartered Accountants
Address :	3/UG-4, Models Residency, State Inez, Panaji - 403001, Goa, India
Income-tax PAN of auditor or auditor's firm :	ACFPB1717N
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries : (As on 31.03.2016)	Power Engineering Spares and Services (India) Private Limited Mahalasa Acoustic Private Limited Man Rollo Power Generation India Private Limited Power Engineering (Sales) Limited UK Acoustic Components Private Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives : (As on 31.03.2016)	Gopalkrishna Investment Trust Mauli Associates Genset Carriers Private Limited PK Composites Private Limited Pai Kane Power Private Limited Mahalasa Powergen Trade and Services Private Limited Mahalasa Powergen Private Limited
Enterprise in which KMP is a partner : (As on 31.03.2016)	Mahalasa Agro Products
Other related party : (As on 31.03.2016)	Creative Manufacturing Solutions (India) Private Limited

CAPITAL STRUCTURE

As on 30.09.2016

Authorised Capital :

No. of Shares	Type	Value	Amount
7717538	Equity Shares	INR 10/- each	INR 77.175 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5920226	Equity Shares	INR 10/- each	INR 59.202 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	59.202	59.202	59.202
(b) Reserves and Surplus	184.615	177.568	96.501
(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)	243.817	236.770	155.703
(3) Non-Current Liabilities
(a) long-term borrowings	46.000	47.899	91.188
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long-term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.305	1.334	0.967
Total Non-current Liabilities (3)	48.305	49.233	92.155
(4) Current Liabilities
(a) Short-term borrowings	251.246	214.605	218.599
(b) Trade payables	288.448	333.328	212.720
(c) Other current liabilities	95.899	102.319	160.599
(d) Short-term provisions	1.017	1.949	0.145
Total Current Liabilities (4)	636.610	652.201	592.063
TOTAL	928.732	938.204	839.921
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.536	40.066	50.364
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets capital work-in-progress	1.128	1.128	0.746
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	27.317	17.737	17.737
(c) Deferred tax assets (net)	71.399	69.647	0.000
(d) Long-term loans and advances	4.543	9.720	10.524
(e) Other Non-current assets	7.764	2.661	2.443
Total Non-Current Assets	129.687	140.959	81.814
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	278.514	146.458	263.492
(c) Trade receivables	222.059	353.733	220.154
(d) Cash and bank balances	144.874	64.349	29.918
(e) Short-term loans and advances	150.570	230.643	232.402
(f) Other current assets	3.028	2.062	12.141
Total Current Assets	799.045	797.245	758.107
TOTAL	928.732	938.204	839.921

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	868.708	1170.109	864.638
	Other Income	44.933	42.349	18.722
	TOTAL	913.641	1212.458	883.360
Less	EXPENSES
	Cost of Materials Consumed	634.853	900.327	662.640
	Purchases of Stock-in-Trade	45.438	4.403	14.050
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(33.550)	41.471	(10.409)
	Employee benefit expense	71.296	68.695	71.301
	Other expenses	137.458	123.751	153.489
	TOTAL	855.495	1138.647	891.071
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	58.146	73.811	(7.711)
Less	FINANCIAL EXPENSES	45.263	48.731	60.221
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	12.883	25.080	(67.932)
Less/ Add	DEPRECIATION/ AMORTISATION	4.483	7.682	7.491
	PROFIT/ (LOSS) BEFORE TAX	8.400	17.398	(75.423)
Less	TAX	1.353	(66.169)	0.568
	PROFIT/ (LOSS) AFTER TAX	7.047	83.567	(75.991)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	421.053	736.883	429.400
	TOTAL EARNINGS	421.053	736.883	429.400
	IMPORTS
	Raw Materials	245.057	365.715	228.151
	Components and spare parts	7.245	6.494	14.836
	TOTAL IMPORTS	252.301	372.210	242.988
	Earnings / (Loss) Per Share (INR)	1.19	14.12	(12.84)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	7.500	34.657	23.876
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	42.542	118.070	(32.251)
Net cash flow from operating activity	44.507	114.246	(34.768)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	93.30	110.34	92.94
Account Receivables Turnover ( Income / Sundry Debtors)	3.91	3.31	3.93
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	154.76	134.48	114.74
Inventory Turnover (Operating Income / Inventories)	0.21	0.50	(0.03)
Asset Turnover (Operating Income / Net Fixed Assets)	3.12	1.79	(0.15)

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.74	0.78	0.84
Debt Equity Ratio (Total Liability / Networth)	1.25	1.26	2.14
Current Liabilities to Networth (Current Liabilities / Net Worth)	2.61	2.75	3.80
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.08	0.17	0.33
Interest Coverage Ratio (PBIT / Financial Charges)	1.28	1.51	(0.13)

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin [(PAT / Sales) * 100]	%	0.81	7.14	(8.79)
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.76	8.91	(9.05)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	2.89	35.29	(48.81)

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.26	1.22	1.28
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.82	1.00	0.84
G-Score Ratio Financial (Networth / Total Assets)	0.26	0.25	0.19
G-Score Ratio Debt (Debts / Equity Capital)	5.15	5.02	5.64
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.26	1.22	1.28

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	59.202	59.202	59.202
Reserves & Surplus	96.501	177.568	184.615
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	155.703	236.770	243.817
Long-term borrowings	91.188	47.899	46.000
Short term borrowings	218.599	214.605	251.246
Current maturities of long-term debts	23.876	34.657	7.500
Total borrowings	333.663	297.161	304.746
Debt/Equity ratio	2.143	1.255	1.250

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	864.638	1170.109	868.708
		35.329	(25.758)

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	864.638	1170.109	868.708
Profit/ (Loss)	(75.991)	83.567	7.047
	(8.79 %)	7.14 %	0.81 %

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	59.202	59.202
(b) Reserves and Surplus	32.209	35.750
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	91.411	94.952
(3) Non-Current Liabilities
(a) long-term borrowings	46.144	52.843
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long-term liabilities	0.000	0.000
(d) long-term provisions	2.570	1.807
Total Non-current Liabilities (3)	48.714	54.650
(4) Current Liabilities
(a) Short-term borrowings	345.079	275.686
(b) Trade payables	369.005	349.010
(c) Other current liabilities	119.515	112.366
(d) Short-term provisions	1.083	2.160
Total Current Liabilities (4)	834.682	739.222
TOTAL	974.807	888.824
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	68.010	105.911
(ii) Intangible Assets	0.000	0.000
(iii) Tangible assets capital work-in-progress	1.538	1.538
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	10.754	1.174
(c) Deferred tax assets (net)	71.399	69.647
(d) Long-term loans and advances	8.565	14.991
(e) Other Non-current assets	7.764	2.661
Total Non-Current Assets	168.030	195.922
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	328.354	189.489
(c) Trade receivables	240.169	356.337
(d) Cash and bank balances	150.224	74.683
(e) Short-term loans and advances	84.408	69.861
(f) Other current assets	3.622	2.532
Total Current Assets	806.777	692.902
TOTAL	974.807	888.824

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	934.407	1245.987
	Other Income	49.571	44.274
	TOTAL	983.978	1290.261
Less	EXPENSES
	Cost of Materials Consumed	653.751	896.014
	Purchases of Stock-in-Trade	45.438	4.403
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(37.940)	41.030
	Employee benefit expense	99.671	100.225
	Other expenses	155.684	144.863
	TOTAL	916.604	1186.535
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	67.374	103.726
Less	FINANCIAL EXPENSES	55.769	58.858
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	11.605	44.868
Less/ Add	DEPRECIATION/ AMORTISATION	13.965	20.634
	PROFIT/ (LOSS) BEFORE TAX	(2.360)	24.234
Less	TAX	1.181	(65.987)
	PROFIT/ (LOSS) AFTER TAX	(3.541)	90.221
	Earnings / (Loss) Per Share (INR)	(0.60)	15.24

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	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	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: The registered office of the company has been shifted from “Satyampedem Road, Mapusa, Goa - 403507, India to the present address w.e.f. 21.11.2006”

BACKGROUND (As on 31.03.2016)

The Company was incorporated on 6 November 1996. Vide succession agreement dated 24 October 2006 the sole proprietorship business of Atul D. Pai Kane, Managing Director, was transferred to the Company. As per the succession agreement, the net assets of the sole proprietorship aggregating to INR 32.186 Million were transferred to the Company and Atul D. Pai Kane was allotted 3218637 shares of face value INR 10 each at par. The Company is engaged in the business of manufacturing power generator sets and related services.

The Company has set up 4 subsidiaries which are Mahalasa Acoustic Private Limited (‘MAPL’) Power Engineering Spares and Services (India ) Private Limited (‘PESSIPL’), Man Rollo Power Generation India Private Limited ( ‘MPGIPL’) and Power Engineering ( Sales) Limited – UK which are in the business of trade and leasing out power generating machines, base frames, panels, equipments, spares and related services.

UNSECURED LOAN

PARTICULARS	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Short-term borrowings
Loans repayable on demand from others	14.445	43.992
Total	14.445	43.992

INDEX OF CHARGES

Charges Registered
SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Amount	Address
1	B19487305	10304025	SREI Equipment Finance Private Limited	15/07/2011	-	999054.0	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA WEST BENGAL 700046 INDIA
2	A99232845	10375275	CANARA BANK	23/09/2010	-	32000000.0	MATHIAS PLAZA BUILDING18TH JUNE ROAD PANAJI GOA 403001 INDIA
3	A94958956	10243225	CANARA BANK	24/08/2010	-	2000000.0	MATHIAS PLAZA BUILDING18TH JUNE ROAD PANAJI GOA 403001 INDIA
4	A88977921	10228692	CANARA BANK	01/06/2010	-	800000.0	MATHIAS PLAZA BUILDING18TH JUNE ROAD PANAJI GOA 403001 INDIA
5	A88235338	10226457	CANARA BANK	20/05/2010	-	1250000.0	MATHIAS PLAZA BUILDING18TH JUNE ROAD PANAJI GOA 403001 INDIA
6	A75120063	10190136	BANK OF INDIA	12/11/2009	-	1150000.0	CAMPALPANAJI GOA 403001 INDIA
7	G47900915	10169907	Canara Bank	17/07/2009	10/03/2017	584400000.0	Mathias Plaza18th June Road Panaji GOA 403001 INDIA
8	A62340799	10237554	HDFC BANK LIMITED	26/02/2009	-	930000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA
9	A45416732	10121984	Canara Bank	25/08/2008	-	600000.0	MATHIAS PLAZA 18TH JUNE ROAD Panaji GOA 403001 INDIA
10	A31413206	10087493	CANARA BANK	17/12/2007	-	3500000.0	MATHIAS PLAZA BUILDING PANAJI GOA 403001 INDIA

CONTINGENT LIABILITIES:

(INR in million)

PARTICULARS	31.03.2016	31.03.2015
Bank guarantee	50.621	55.988
Letter of credit	143.421	37.842
Bill discounting	22.671	49.433
Corporate Guarantees on behalf of subsidiaries	15.521	45.642
Excise Duty	8.801	8.737
VAT/CST and Entry Tax	39.676	22.504
Income Tax	0.582	0.582
Total	281.293	220.728

FIXED ASSETS

• Land
• Buildings
• Factory building
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Computer equipments

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 records 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	INR
US Dollar	1	INR 65.10
UK Pound	1	INR 90.44
Euro	1	INR 79.58

INFORMATION DETAILS

Information Gathered by :	SHL
Analysis Done by :	VAR
Report Prepared by :	SUD

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.