MIRA INFORM REPORT

Report No. :	499316
Report Date :	24.03.2018

IDENTIFICATION DETAILS

Name :	FALCON INFRASTRUCTURES LIMITED
Registered Office :	VIII/47, A Commercial Complex, Integrated Service, Complex PB No 4030, Udyogamandal P O, Ernakulam - 683501, Kerala
Tel. No.:	91-484-2543709
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	13.01.2000
Com. Reg. No.:	09-013591
Capital Investment / Paid-up Capital :	INR 297.345 Million
CIN No.: [Company Identification No.]	U93090KL2000PLC013591
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	32AAACF5350M1ZQ
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACF5350M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged as providing various infrastructure facilities including arranging of parking facilities for vehicles, facilitating movement of cargo, providing workshop facility, container freight station services etc. Additionally the subject is also engaged into selling petroleum products. (Registered Activity)
No. of Employees :	Information denied 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

Maximum Credit Limit :	INR 770000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 2000 and it is having good track record. It is engaged as providing various infrastructure facilities including arranging of parking facilities for vehicles, facilitating movement of cargo, providing workshop facility, container freight station services etc. Additionally the subject is also engaged into selling petroleum products. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the healthy financial risk profile marked by its adequate net worth base and comfortable debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by its well-established market position. However, these rating strengths gets partially offset by risk related to implementation of the project, which is in the initial stage and timely receipts of grants. Payments seems to be regular. 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.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

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 24.03.2018

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. Joby
Designation :	Finance Manger
Contact No.:	91-484-2543709
Date :	22.03.2018

LOCATIONS

Registered Office :	VIII/47, A Commercial Complex, Integrated Service, Complex PB No 4030, Udyogamandal P O, Ernakulam - 683501, Kerala, India
Tel. No.:	91-484-2543709
Fax No.:	Not Available
E-Mail :	info@falcon.india.co.in

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Mohammedkutty Ayamuhaji Njeliyathodi

Designation :

Director

Address :

Blossoms Cochin University, Kochi – 682022, Kerala, India

Date of Birth/Age:

10.10.1959

Qualification:

MBA,M PHIL

Date of Appointment :

01.06.2009

DIN No.:

00049886

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U70101KL1994PTC008456	FORTKNOX VENTURES PRIVATE LIMITED	13/12/1994	-
U45201KL1999PTC012742	HIRA HABITAT PRIVATE LIMITED	14/01/1999	-
U70102KL2007PTC021263	FORTKNOX DEVELOPERS PRIVATE LIMITED	04/10/2007	-
U45201KL2007PTC021262	GREENIX DEVELOPERS (INDIA) PRIVATE LIMITED	04/10/2007	-
U45201KL2007PTC021626	NJELIYATHODY CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	31/12/2007	-
U45200KL2007PTC021363	NAMBIPUNNALATH CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	29/10/2007	-
U45201KL2007PTC021578	KALAPPURAKKAL CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	19/12/2007	-
U45202KL2008PTC021689	VALIYAKATH CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	15/01/2008	-
U70101KL2008PTC021796	PALACKAMANNIL PROPERTIES PRIVATE LIMITED	05/02/2008	-
U70100KL2008PTC021780	MANAGALATHEL PROPERTIES AND CONSTRUCTION PRIVATE LIMITED	31/01/2008	-
U70101KL2008PTC021781	KORATH PROPERTIES AND CONSTRUCTION PRIVATE LIMITED	31/01/2008	-
U63010KL2008PTC022206	FALCON CONTAINER FREIGHT STATION PRIVATE LIMITED	07/04/2008	-
U63090TZ2008PTC014747	FALCON INNOVATIVE LOGITECH SOLUTIONS PRIVATE LIMITED	08/09/2008	-
U15400KL2011PTC027626	MALABAR MEGA FOOD PARK PRIVATE LIMITED	19/03/2012	-
U92490KL2006PTC019812	GREENIX VENTURES PRIVATE LIMITED	06/09/2006	-
U45202KL2007PTC020807	FORTKNOX INFRASTRUCTURES PRIVATE LIMITED	16/05/2007	-
U45309KL2017PTC049309	MAM REALTORS PRIVATE LIMITED	31/05/2017	-

Name :

Mr. John V Thomas

Designation :

Director

Address :

Palakkammanil House, Kalathipady P.O, Kottayam – 686010, Kerala, India

Date of Birth/Age:

24.05.1952

Qualification:

Graduation

Date of Appointment :

29.09.2012

DIN No.:

00060852

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U45200KL2012PTC030267	AURION CONSTRUCTIONS PRIVATE LIMITED	17/01/2012	-
U45202KL2007PTC020807	FORTKNOX INFRASTRUCTURES PRIVATE LIMITED	02/08/2008	-
U55101KL2006PTC019928	S.L.TOURISM AND HEALTH PROMOTION COMPANY PRIVATE LIMITED	19/10/2006	-
U70100KL2014PTC037641	HUBARA HOMES PRIVATE LIMITED	08/12/2014	-
U70100KL2010PTC026785	SIBY'S PROJECTS AND PROPERTIES PRIVATE LIMITED	27/09/2010	-
U70100KL2010PTC025456	THADATHIL PROPERTIES PRIVATE LIMITED	05/02/2010	-
U70100KL2009PTC025144	KURUNKATTIL PROPERTIES PRIVATE LIMITED	09/12/2009	-
U70100KL2009PTC025143	KEEZHOTU PROPERTIES PRIVATE LIMITED	09/12/2009	-
U63040KL2008PTC022092	B & S AQUA TOURISM PRIVATE LIMITED	01/07/2009	-
U45200KL2007PTC021363	NAMBIPUNNALATH CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	02/08/2008	-
U45201KL2007PTC021626	NJELIYATHODY CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	31/12/2007	-
U45201KL2007PTC021262	GREENIX DEVELOPERS (INDIA) PRIVATE LIMITED	04/10/2007	-
U70102KL2007PTC021263	FORTKNOX DEVELOPERS PRIVATE LIMITED	04/10/2007	-
U55101KL2005PTC018046	ABCS HOTELS AND RESORTS PRIVATE LIMITED	23/03/2005	-

Name :

Mr. Panthantavide Mohammed Ashraf

Designation :

Director

Address :

Azaab Anayidulk, Thana, Kannur – 670012, Kerala, India

Date of Birth/Age:

24.05.1952

Qualification:

Graduation

Date of Appointment :

29.09.2012

DIN No.:

00272542

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U45200KL2009PTC023763	YEMCEE INFRASTRUCTURES AND REALTORS PRIVATE LIMITED	23/02/2015	-
U85110TZ2011PLC017146	NILGIRI INSTITUTE OF MEDICAL SCIENCES LIMITED	06/05/2012	-
U85110KL2011PTC029985	GENESIS INSTITUTE OF MEDICAL SCIENCE PRIVATE LIMITED	07/12/2011	-

Name :

Mr. Thekkil Muhammed Shafi

Designation :

Director

Address :

Patel House, Thekkil Ferry, Kasargod – 670545, Kerala, India

Date of Birth/Age:

29.11.1955

Qualification:

Graduation

Date of Appointment :

03.05.2001

DIN No.:

00272641

Name :

Mr. Azhumulathil Abdulrahiman Salim

Designation :

Director

Address :

Putheb Purayil Edappally, Kochi – 682024, Kerala, India

Date of Birth/Age:

18.05.1955

Qualification:

Graduation

Date of Appointment :

30.09.2010

DIN No.:

00272742

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U85110KL1995PLC008677	MALABAR INSTITUTE OF MEDICAL SCIENCES LTD	27/09/2002	-
U70102KL2006PTC019365	LOGOSPHERE PROPERTY DEVELOPERS PRIVATE LIMITED	26/09/2012	-
U80301KL2006PTC019661	SMART LEARNING INNOVATIONS (INDIA) PRIVATE LIMITED	03/11/2011	-
U45201KL2008PTC021727	AMBADY INFRASTRUCTURE PRIVATE LIMITED	28/09/2015	-
U70102KL2010PTC026300	MIMS INFRASTRUCTURE AND PROPERTIES PRIVATE LIMITED	29/04/2011	-
U70100KL2011PTC029283	WAYANAD INFRASTRUCTURE PRIVATE LIMITED	24/03/2014	-
U67100KL2012PTC032545	SADHBHAVANA HOLDINGS PRIVATE LIMITED	23/12/2013	-

Name :

Mr. Maliyakkal Kakkoo Muhamed Haneefa

Designation :

Director

Address :

Sahara, New Second Railway Gate, Tiruvangad, Tellicherry – 670103, Kerala, India

Date of Appointment :

03.05.2001

Date of Birth/Age:

01.06.1955

Qualification:

Graduation

DIN No.:

00273078

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U45201KL2007PTC021578	KALAPPURAKKAL CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	02/08/2008	-
U45202KL2008PTC021689	VALIYAKATH CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	02/08/2008	-
U70101KL2008PTC021796	PALACKAMANNIL PROPERTIES PRIVATE LIMITED	02/08/2008	-
U70100KL2008PTC021780	MANAGALATHEL PROPERTIES AND CONSTRUCTION PRIVATE LIMITED	02/08/2008	-
U70101KL2008PTC021781	KORATH PROPERTIES AND CONSTRUCTION PRIVATE LIMITED	02/08/2008	-

Name :

Mr. Hassan Kunhi Manningayil Pujhiyanveettil

Designation :

Director

Address :

Pearl Castle, Chavakkad, Trichur – 680506, Kerala, India

Date of Appointment :

03.05.2001

Date of Birth/Age:

15.05.1953

Qualification:

Graduation

DIN No.:

00273116

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U70101KL1994PTC008456	FORTKNOX VENTURES PRIVATE LIMITED	09/05/2007	-
U63010KL2008PTC022206	FALCON CONTAINER FREIGHT STATION PRIVATE LIMITED	07/04/2008	-
U51399KL2016PTC040165	HANSA INTERNATIONAL PRIVATE LIMITED	19/02/2016	-

Name :

Mr. Vakkayil Kuttammath Mohammed Ashraf

Designation :

Director

Address :

Veekay House, Edayur P.O, Via Valancherry, Malappuram – 676554, Kerala, India

Date of Birth/Age :

30.05.1960

Date of Appointment :

28.12.2016

DIN No.:

00338473

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U45201KL1992PTC006620	VEEKAY BUILDING PVT LTD	31/12/2016	-
U67120KL1993PTC007402	AYSHA INVESTMENTS PVT LTD	29/10/2016	-
U55101KL1994PTC008045	PEEVEEKAY PROPERTIES AND HOTELS PVT LTD	31/12/2016	-
U55102KL1999PTC013411	MALABAR ISLAND RESORTS PRIVATE LIMITED	29/10/2016	-
U74300KL2000PLC013655	MALAYALAM COMMUNICATIONS LIMITED	03/08/2000	-
U55101KL2006PTC019039	GREEN ISLAND RESORTS PRIVATE LIMITED	31/12/2016	-
U70101KL2006PTC019276	VKMA REALTORS PRIVATE LIMITED	29/10/2016	-
U85110KL2007PTC020701	TRIVANDRUM INTERNATIONAL MEDICAL CENTRE PRIVATE LIMITED	31/12/2016	-
U45201KL2007PTC021579	KUTTAMMATHARAKKAL CONSTRUCTION AND REAL ESTATES PRIVATE LIMITED	30/09/2017	-
U70100KL2008PTC022340	AKCELARTED BUILDERS AND DEVELOPERS PRIVATE LIMITED	29/10/2016	-
U55101KL2013PTC034512	BEST LUXURY HOTELS (ASIA) PRIVATE LIMITED	09/10/2017	-
U74999KA2016PTC094928	ADFINITY GLOBAL SOLUTIONS PRIVATE LIMITED	27/02/2017	-
U72900KL2017PTC049498	NEURA DIGITAL SOLUTIONS PRIVATE LIMITED	21/06/2017	-

Name :

Mr. Thomas Kuttiparambil Varghese

Designation :

Director

Address :

Kuttiparambil House, Kalathyppady, Vadavathoor P O, Kottayam – 686010, Kerala, India

Date of Appointment :

29.09.2012

DIN No.:

01312530

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U01119KL1947PTC000925	KVT ESTATES PRIVATE LIMITED	12/01/2004	-
U70101KL2005PTC017821	THOMSUN REALTORS PRIVATE LIMITED	20/01/2005	-
U45201KL2006PTC019122	WATERBAY PROPERTIES PRIVATE LIMITED	28/12/2012	-
U55101KL2009PTC023644	ELYSIAN HOSPITALITIES PRIVATE LIMITED	08/01/2009	-
U01116KL2011PTC029103	TABLETOP HILL ESTATES PRIVATE LIMITED	10/08/2011	-
U01116KL2011PTC029043	TALLTREETOP ESTATES PRIVATE LIMITED	05/08/2011	-
U01116KL2011PTC029049	ETHEN PLANTATIONS PRIVATE LIMITED	05/08/2011	-
U01403KL2011PTC029042	SAJUAN PLANTATIONS PRIVATE LIMITED	05/08/2011	-
U01116KL2011PTC029104	SIGHTWORTHY ESTATES PRIVATE LIMITED	10/08/2011	-
U45200KL2011PTC029547	FOND WAVES PROPERTIES PRIVATE LIMITED	11/10/2011	-
U01403KL2012PTC030960	GREEN GALLERY FARMS PRIVATE LIMITED	09/04/2012	-
U85100KL2012PTC031900	THOMSUN HEALTHCARE (INDIA) PRIVATE LIMITED	14/08/2012	-
U45200KL2012PTC030283	RIVER WAVES DEVELOPERS PRIVATE LIMITED	17/01/2012	-

Name :

Mr. Naushad Nedumparambil Maideen Rawather

Designation :

Director

Address :

Palakkammanil House, Kalathipady P.O, Kottayam – 686010, Kerala, India

Date of Appointment :

09.08.2004

DIN No.:

01617121

Name :

Mr. Abdullah Habeeb Kolliyil

Designation :

Director

Address :

Othayoth House, Nanminda P.O, Calicut – 673613, Kerala, India

Date of Birth/Age :

18.05.1955

Date of Appointment :

06.03.2003

DIN No.:

02381640

Name :

Mr. Salavudheen Karakkattavilhassan

Designation :

Director

Address :

Galaxy P.O. Nhamanghat, Trichur – 679563, Kerala, India

Date of Birth/Age :

20.03.1968

Date of Appointment :

30.09.2010

DIN No.:

02691543

Name :

Mr. Mohandas Karunakaran Nair

Designation :

Director

Address :

Tc-4/1804, Ushasandhya T.T.C Junction, Kowdiar, Trivandrum – 695003, Kerala, India

Date of Appointment :

23.07.2015

DIN No.:

06493283

Other Directorship:

CIN/FCRN	COMPANY NAME	BEGIN DATE	END DATE
U63010TG1989PLC010716	SEAWAYS SHIPPING AND LOGISTICS LIMITED	30/09/2015	-
U63032GA1967GOI000077	GOA SHIPYARD LIMITED	07/01/2016	-
U74140KL2015PTC038281	TURYA CONSULTING PRIVATE LIMITED	07/04/2015	-

Name :

Mr. Muhamed Vadakke Veetil Moideen

Designation :

Director

Address :

Vadakke Veetil, Edavanakad P.O, Ernakulam – 682502, Kerala, India

Date of Birth/Age :

04.11.1955

Date of Appointment :

30.09.2016

DIN No.:

07626459

KEY EXECUTIVES

Name :	Mr. Joby
Designation :	Finance Manger

MAJOR SHAREHOLDERS

AS ON 31.03.2017

SHAREHOLDING FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 02.09.2017

Category	Percentage
Promoters- Individual/Hindu Undivided Family- Indian	21.13
Public/Other than promoters- Individual/Hindu Undivided Family- Indian	78.87
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged as providing various infrastructure facilities including arranging of parking facilities for vehicles, facilitating movement of cargo, providing workshop facility, container freight station services etc. Additionally the subject is also engaged into selling petroleum products. (Registered Activity)

Products / Services :

Name and Description of main products / services	NIC Code of the Product/service
Container Freight Station	6301
Sale of Petroleum Products	5050

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 denied by the management

Bankers :

Banker Name :	Not Divulged
Branch :
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Term loans from others	30.937	25.287
Rupee term loans from banks	0.000	0.276
SHORT TERM BORROWING
Loans repayable on demand from banks	31.673	32.212
Total	62.610	57.775

Auditors :
Name :	Babua Kallivayalil and Company Chartered Accountants
Address :	II, Floor, Manju Complex, P.T. Usha Road, Cochin – 682011, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFB3873A
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary company:	Falcon Container Freight Station Private Limited, India [U63010KL2008PTC022206]

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	INR 10/- each	INR 300.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
29734455	Equity Shares	INR 10/- each	INR 297.345 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET (STANDALONE)

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	297.345	297.345	297.345
(b) Reserves and Surplus	3537.053	3528.111	3528.029
(c) Money received against share warrants	0.000	0.000	0.000
(d) Minority interest	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	3834.398	3825.456	3825.374
(3) Non-Current Liabilities
(a) long-term borrowings	30.937	25.563	28.723
(b) Deferred tax liabilities (Net)	28.321	22.821	18.520
(c) Other long-term liabilities	0.000	0.000	0.000
(d) long-term provisions	4.991	5.071	4.578
Total Non-current Liabilities (3)	64.249	53.455	51.821
(4) Current Liabilities
(a) Short-term borrowings	31.673	32.212	25.048
(b) Trade payables	0.428	1.096	0.327
(c) Other current liabilities	19.396	17.747	23.631
(d) Short-term provisions	20.290	23.464	29.703
Total Current Liabilities (4)	71.787	74.519	78.709
TOTAL	3970.434	3953.430	3955.904
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3872.395	3857.101	3867.681
(ii) Intangible Assets	0.151	0.223	0.382
(iii) Tangible assets capital work-in-progress	4.685	3.522	4.423
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.300	0.300	0.300
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	42.122	41.999	32.125
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	3919.653	3903.145	3904.911
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2.971	2.164	1.426
(c) Trade receivables	15.162	16.325	14.752
(d) Cash and bank balances	14.668	13.612	17.496
(e) Short-term loans and advances	16.351	15.468	15.729
(f) Other current assets	1.629	2.716	1.590
Total Current Assets	50.781	50.285	50.993
TOTAL	3970.434	3953.430	3955.904

PROFIT & LOSS ACCOUNT (STANDALONE)

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	375.709	343.515	369.729
	Other Income	8.104	2.741	15.932
	TOTAL	383.813	346.256	385.661
Less	EXPENSES
	Purchases of Stock-in-Trade	252.361	231.363	264.536
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.807)	(0.738)	0.661
	Employee benefit expense	41.512	37.844	31.543
	CSR expenditure	0.000	0.394	0.000
	Other expenses	39.752	33.595	36.717
	TOTAL	332.818	302.458	333.457
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	50.995	43.798	52.204
Less	FINANCIAL EXPENSES	8.634	8.721	9.764
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	42.361	35.077	42.440
Less/ Add	DEPRECIATION/ AMORTISATION	14.625	21.774	21.711
	PROFIT/ (LOSS) BEFORE TAX	27.736	13.303	20.729
Less	TAX	9.873	4.301	2.716
	PROFIT/ (LOSS) AFTER TAX	17.863	9.002	18.013
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	6.873	6.791	6.617
Less	APPROPRIATIONS
	Amount available for appropriation	0.000	0.000	0.000
	Proposed/ Interim Dividend	7.411	7.411	14.208
	Corporate Dividend Tax	1.509	1.509	3.632
	Balance Carried to the B/S	15.816	6.873	6.791
	Earnings / (Loss) Per Share (INR)	0.60	0.30	0.60

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	11.760	8.265	10.977
Cash generated from operations	45.241	35.309	36.804
Net cash flows from (used in) operations	45.413	35.309	36.775

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	14.73	17.35	14.56
Account Receivables Turnover (Income / Sundry Debtors)	24.78	21.04	25.06
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.62	1.73	0.45
Inventory Turnover (Operating Income / Inventories)	17.16	20.24	36.61
Asset Turnover (Operating Income / Net Fixed Assets)	0.01	0.01	0.01

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.03	0.03	0.03
Debt Equity Ratio (Total Liability / Networth)	0.02	0.02	0.02
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.02	0.02	0.02
Fixed Assets to Networth (Net Fixed Assets / Networth)	1.01	1.01	1.01
Interest Coverage Ratio (PBIT / Financial Charges)	5.91	5.02	5.35

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	4.75	2.62	4.87
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.45	0.23	0.46
Return on Investment (ROI) ((PAT / Networth) * 100)	%	0.47	0.24	0.47

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	0.71	0.67	0.65
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.67	0.65	0.63
G-Score Ratio Financial (Networth / Total Assets)	0.97	0.97	0.97
G-Score Ratio Debt (Debts / Equity Capital)	0.25	0.22	0.22
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.71	0.67	0.65

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

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	297.345	297.345	297.345
Reserves & Surplus	3528.029	3528.111	3537.053
Net worth	3825.374	3825.456	3834.398
Long-term borrowings	28.723	25.563	30.937
Short term borrowings	25.048	32.212	31.673
Current maturities of long-term debts	10.977	8.265	11.760
Total borrowings	64.748	66.040	74.370
Debt/Equity ratio	0.017	0.017	0.019

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	369.729	343.515	375.709
	0.000	(7.090)	9.372

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	(INR In Million)	(INR In Million)	(INR In Million)
Sales	369.729	343.515	375.709
Profit/ (Loss)	18.013	9.002	17.863
	4.87 %	2.62 %	4.75 %

ABRIDGED BALANCE SHEET (CONSOLIDATED)

SOURCES OF FUNDS	31.03.2017	31.03.2016
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	297.345	297.345
(b) Reserves and Surplus	3536.428	3528.156
(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)	3833.773	3825.501
(3) Non-Current Liabilities
(a) long-term borrowings	30.952	25.576
(b) Deferred tax liabilities (Net)	28.321	22.821
(c) Other long-term liabilities	0.000	0.000
(d) long-term provisions	4.991	5.071
Total Non-current Liabilities (3)	64.264	53.468
(4) Current Liabilities
(a) Short-term borrowings	31.673	32.212
(b) Trade payables	0.428	1.096
(c) Other current liabilities	19.394	17.679
(d) Short-term provisions	20.290	23.464
Total Current Liabilities (4)	71.785	74.451
TOTAL	3969.822	3953.420
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3877.321	3862.027
(ii) Intangible Assets	0.151	0.223
(iii) Tangible assets capital work-in-progress	4.685	3.522
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term loans and advances	36.446	36.323
(e) Other Non-current assets	1.128	1.128
Total Non-Current Assets	3919.731	3903.223
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	2.971	2.164
(c) Trade receivables	15.162	16.325
(d) Cash and bank balances	14.703	13.626
(e) Short-term loans and advances	16.351	15.468
(f) Other current assets	0.904	2.614
Total Current Assets	50.091	50.197
TOTAL	3969.822	3953.420

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

	PARTICULARS	31.03.2017	31.03.2016
	SALES
	Total Revenue from operations	375.709	343.515
	Other Income	7.409	2.741
	TOTAL	383.118	346.256
Less	EXPENSES
	Purchases of Stock-in-Trade	252.361	231.363
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.807)	(0.738)
	Employee benefit expense	41.512	37.844
	CSR expenditure	0.000	0.394
	Other expenses	39.721	33.567
	TOTAL	332.787	302.430
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	50.331	43.826
Less	FINANCIAL EXPENSES	8.634	8.721
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	41.697	35.105
Less/ Add	DEPRECIATION/ AMORTISATION	14.625	21.774
	PROFIT/ (LOSS) BEFORE TAX	27.072	13.331
Less	TAX	9.879	4.309
	PROFIT/ (LOSS) AFTER TAX	17.193	9.022
	Earnings / (Loss) Per Share (INR)	0.578	0.303

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	Litigations that the firm/promoter involved in	--
32	Market information	--
33	Payments terms	No
34	Negative Reporting by Auditors in the Annual Report	No

PRESENT STATUS AND FUTURE OUTLOOK

The Directors are happy to report that the activities of all divisions of the Company Theyre satisfactory during the year. During the year under report, the Company handled a total number of 38381 TEU’S including pre-stage containers as compared to 30029 TEU’S during the previous year, thus having registered an increase of 28% in the total volume of operations of the CFS and its revenue having posted an increase of 21% compared to previous year. It is expected that with bulk movement of containers directly to CFS having been facilitated from the port, and with sufficient container stacking facility available with us, the entire volume of operations at the CFS would go up substantially during the current financial year boosting the revenues of the Company; along with the growth in the size of business handled at Vallarpadam Container Terminal which has started posting growth in operations since last few years on year to year basis. Besides, the increase in the volume of containers handled at the CFS will further boost other business activities of the Company. The fuel division revenues registered an increase from INR 237.000 Million to INR 258.400 Million attaining a growth of 9 % for the year.

The Directors are happy to inform you that during the year, the core business of the Company viz: CFS has shown considerable increase in the volume of business and the revenues despite the market conditions. Overall performance of the Company is also reasonable despite encountering significant challenges during the year. HoTheyver the Company faces limitations in ensuring sizeable growth for the CFS activities due to its location which is little far away from Vallarpadam and the operational cost for the Company is higher due to increased transportation and other allied costs in comparison with its competitors operating from around Vallarpadam. Therefore in order to ensure sustainability of operations, profitability and regular & continuous growth for CFS division, The Directors are exploring the possibility of getting the CFS activities re-located to near Vallarpadam Container Terminal upon finding out a suitable property in proximity to the Vallarpadam Container Terminal. Further The Directors feel that as the future is in 3PL activities in overall business operations globally, there will be sufficient scope for setting up additional warehouses to the tune of 2-3 lakhs sft which will add on to revenues and profitability substantially. As the members are aware these proposed capitalizations entail substantial funding calling for resorting to rights issue/ IPO and getting the securities of the company listed at Stock exchanges. The Directors are pleased to inform that the Company has since succeeded in bagging ISO 9001-2015 Registration w.e.f. May 31, 2017.

The Directors confirm that there has been no material changes and commitments affecting the financial position of The Company which occurred betTheyen the end of the financial year to which the Financial Statements relate and the date of this Annual Report. The state of the Company’s affairs is as given above.

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G74614686	10592964	KERALA STATE INDUSTRIAL DEVELOPMENT CORPORATION LIMITED	16/09/2015	15/01/2018	-	39191000.0	2NDFLOOR,CHOICE TOWER, MANORAMA JN.COCHINKL682016IN
2	C51697126	10563757	IDBI BANK LIMITED	25/03/2015	17/04/2015	-	32500000.0	SEA QUEEN BLDG, NEAR CHANGAMPUZHAN.H.47,EDAPALLY,KOCHIKL682024IN
3	G74613274	10485619	KERALA STATE INDUSTRIAL DEVELOPMENT CORPORATION LIMITED	21/03/2014	15/01/2018	-	18500000.0	2NDFLOOR,CHOICE TOWER, MANORAMA JN.COCHINKL682016IN
4	A00346619	10001256	FEDERAL BANK LIMITED	28/03/2006	-	-	5000000.0	KALAMASSERY BRANCHKALAMASSERYERNAKULAMKL683104IN
5	G48006571	90019423	UNION BANK OF INDIA	14/10/2003	-	20/06/2017	105000.0	ADIMALYADIMALYKLIN
6	G47953963	10297711	KERALA STATE INDUSTRIAL DEVELOPMENT CORPORATION BANK	01/07/2011	04/07/2011	12/06/2017	20000000.0	CHOICE TOWER, MANORAMA JN.PANAMPILLY NAGARCOCHINKL682016IN
7	C68476779	10335218	STATE BANK OF INDIA	29/12/2011	04/01/2012	06/10/2015	55000000.0	OVERSEAS BRANCH ,KOCHIINDIRA GHANDHI ROAD, WELLINGDON ISLAND,KOCHIKL682003IN
8	C53863593	10442054	STATE BANK OF INDIA	07/03/2013	-	19/05/2015	20000000.0	OVERSEAS BRANCH, INDIRA GANDHI ROAD,WILLINGTON ISLANDKOCHIKL682003IN
9	C53863940	10442055	STATE BANK OF INDIA	16/03/2013	-	19/05/2015	20000000.0	OVERSEAS BRANCH,INDIRA GANDHI ROAD,WILLINGTON ISLANDKOCHIKL682003IN
10	C48463251	10068735	KERALA STATE INDUSTRIAL DEVELOPMENT CORPORTION LIMITED	03/10/2007	05/10/2007	06/03/2015	20000000.0	CHOICE TOWER, MANORAMA JUNCTIONPANAMPILLY NAGARCOCHINKL682016IN

FIXED ASSETS:

• Buildings
• 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 65.06
UK Pound	1	INR 92.06
Euro	1	INR 80.37

INFORMATION DETAILS

Information Gathered by :	POO
Analysis Done by :	NIS
Report Prepared by :	NKTS

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.