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Disclosure for the half year ended March 31, 2013

6.1	Rating Procedure
	Policies
	Methodology
	Procedures
6.2	Credit Rating History and Defaults
6.2.1	Details of new credit ratings assigned Annexure I
6.2.2	Movement of credit rating of all outstanding securities
(a)	Movement of each credit rating Annexure II
(b)	Movement of each credit rating from investment grade to non-investment grade and vice versa Annexure III
(c )	Movement of each credit rating that has moved by more than one notch Annexure IV
6.2.3	History of credit ratings of all outstanding securities Annexure V
6.2.4	List of defaults separately for each rating category Annexure VI
6.2.5	Average default rates for the last five financial years Annexure VII
6.3	Income
6.3.1	General nature of compensation arrangements with the issuers
6.3.2	In case of accepted ratings, disclosure of conflicts of interest, if any. Not Applicable
6.3.3	Income Disclosures
6.3.3.1	Total Revenue from rating services and non-rating services
6.3.3.2	Issuer wise percentage share of non-rating income to total revenue SMERA does not provide non-rating services to any issue in India.
6.3.3.3	Issuers contributing 10% or more of the total revenue No issuer is contributing 10% or more of SMERA’s total revenue.
6.4	Structured Finance Products
6.4.1	Not applicable
6.4.2	Performance of rated pools Not applicable
6.5	Unsolicited Credit Ratings
	SME Rating Agency of India Ltd. does not carry out any unsolicited ratings.
6.6	Shareholding
6.7	Compliance status of IOSCO Code of Conduct

*The serial numbers above refer to the corresponding serial numbers in the SEBI circular.