MIRA INFORM REPORT

Report Date :

06.04.2011

IDENTIFICATION DETAILS

Name :	B M J CABLES LIMITED (w.e.f. 2007)
Formerly Known as :	TEJ-US INFOTECH LIMITED
Registered Office :	Plot No. 562, GIDC Estate, Khatwada, Ahmedabad – 382 460, Gujarat
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	23.03.2000
Com. Reg. No.:	04-37622
TAN No.: [Tax Deduction & Collection Account No.]	AHMB04002F
CIN No.: [Company Identification No.]	U72200GJ2000PLC037622
Legal Form :	A closely held public limited liability company.
Line of Business :	Manufacturer of Aluminium Wire Rods.

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 186000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered normal 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Anil
Designation :	Accountant
Contact No.:	91-79-22901814
Date :	02.04.2011

LOCATIONS

Registered Office / Factory:	Plot No. 562, GIDC Estate, Khatwada, Ahmedabad – 382 460, Gujarat, India
Tel. No.:	91-79-22901814 / 1815
E-Mail :	info@bmj.co.in ssdasaniandco@yahoo.co.in
Website :	http://www.bmj.co.in
Location :	Owned

DIRECTORS

AS ON 24.09.2009

Name :	Mr. Mahendra Bhanwarsing Purohit
Designation :	Director
Address :	3 Subhash Society, Jain Upashray Lane, Commerce Six Roads, Navrangpura, Ahmedabad – 380 009, Gujarat, India
Date of Birth/Age :	19.07.1973
Date of Appointment :	04.11.2003
Name :	Mr. Kailash Babuprasad Shah
Designation :	Director
Address :	13, Bhimnath Society, Circuit House, Shahi Baug, Ahmedabad – 380 004, Gujarat, India
Date of Birth/Age :	11.05.1966
Date of Appointment :	05.09.2006
Name :	Mr. Radheshyam Roshanlal Maheshwari
Designation :	Director
Address :	10A, Navinchandra Park, Near Nalkunj Camp Road, Shahi Baug, Ahmedabad – 380 004, Guujarat, India
Date of Birth/Age :	30.12.1961
Qualification :	Engineer
Date of Appointment :	05.09.2006
Name :	Mr. Ghanshyam Babuprasad Shah
Designation :	Director
Address :	13, Bhimnath Society, Circuit House, Shahi Baug, Ahmedabad – 380 004, Gujarat, India
Date of Birth/Age :	13.11.1969
Date of Appointment :	05.09.2006
Name :	Mr. Jagdish Bansilal Kalya
Designation :	Director
Address :	A 1, Shyam Tenaments, Odhav, Ahmedabad – 382410, Gujarat, India
Date of Birth/Age :	01.08.1972
Date of Appointment :	05.09.2006
Name :	Mr. Babuprasad Ramdayal Shah
Designation :	Director
Address :	13, Bhimnath Society, Circuit House, Shahi Baug, Ahmedabad – 380 004, Gujarat, India
Date of Birth/Age :	30.03.1942
Date of Appointment :	10.02.2007

KEY EXECUTIVES

Name :	Mr. Nilesh
Designation :	Accounts Department
Name :	Mr. Anil
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2009

Names of Shareholders	No. of Shares
Babulal Ramdyal Shah	35000
Bhanwarsigh Shivathsingh Purohit HUF	100
Chandradevi Nitinkumar Purohit	100
Chandrankant Vralal Solanki	115000
Ghanshyam Babulal Shah	30000
Hitendra Vrajlal Purohit	90000
Indudevi Kartikey Purohit	100
Kailashchandra Babulal Shah	35000
Laxmiben Bhanwarlal Purohit	100
Mahendra Bhanwarsingh Purohit	131480
Panidevi Bhanwarlal Purohit	100
Preeti Mahendra Purohit	100
Radheshyam Roshanlal Maheshwari	5000
Total	442080

Equity share breakup as on 24.09.2009

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Aluminium Wire Rods.

Products :

Product Description	ITC Code No.
Aluminium Wire Rods	76011040
Ingots	76011010
Scrape / Waste	26201110

Exports :

Products :

Aluminium Wire Rod.

Countries :

Saudi Arabia

Imports :

Products :

Raw Material

Countries :

Gulf Countries

Terms :

Selling :

L/C, Cash, Credit (30 days, 60 days, 90 days)

Purchasing :

L/C, Cash, Credit (30 days, 60 days, 90 days)

PRODUCTION STATUS AS ON 31.03.2009

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Alu Wire Rod (M)	Quantity	--	--	2488669
Alu Ingot Manufacturer	Quantity	--	--	57738
Ash and Residual	Quantity	--	--	51945

GENERAL INFORMATION

Customers :

• End Users
• OEM’s

No. of Employees :

50 ( Approximately)

Bankers :

• Indusind Bank Limited, World Business House, Near Parimal Garden, Ahmedabad – 380 006, Gujarat, India
• Oriental Bank of Commerce
• Axis Bank
• Standard Chartered Bank, Ground Floor, Abhijeet – II, Mithakhali 6^th Road, Navrangpura, Ahmedabad, Gujarat, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Indusind Bank – CC A/c Secured against hypothecation of entire current assets of the company comprising of stocks of raw materials, work in progress, etc and other current assets.	46.327	46.830
Total	46.327	46.830
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Bank	0.000	0.000
From Others	0.000	0.370
Total	0.000	0.370

Banking Relations :	-
Auditors :
Name :	S S Dasani and Company Chartered Accountant
Address :	288, New Cloth Market, Sarangpur, Ahmedabad – 380 002, Gujarat, India
Tel. No.:	91-79-22166150 / 22160090
E-Mail :	ssdasaniandco@yahoo.co.in

CAPITAL STRUCTURE

As on 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
442080	Equity Shares	Rs.10/- each	Rs. 4.421 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2010
Sales Turnover (Approximately)	450.000

Expected Sales (2010-2011) : Rs.600.000 Millions

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		4.421	3.171	2.771
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		42.116	26.023	20.437
4] (Accumulated Losses)		0.000	0.000	(0.100)
NETWORTH		46.537	29.194	23.108
LOAN FUNDS
1] Secured Loans		46.327	46.830	1.415
2] Unsecured Loans		0.000	0.370	0.053
TOTAL BORROWING		46.327	47.200	1.468
DEFERRED TAX LIABILITIES		0.078	0.045	0.000
TOTAL		92.942	76.439	24.576
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.255	15.079	3.242
Capital work-in-progress		0.000	0.000	11.970
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.861	20.196	0.254
	Sundry Debtors	60.771	67.575	0.528
	Cash & Bank Balances	1.097	0.500	0.098
	Other Current Assets	0.000	0.000	2.142
	Loans & Advances	18.222	8.143	10.082
Total Current Assets		92.951	96.414	13.104
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	11.803	26.752	0.000
	Other Current Liabilities	2.342	8.074	3.687
	Provisions	1.119	0.228	0.053
Total Current Liabilities		15.264	35.054	3.740
Net Current Assets		77.687	61.360	9.364
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		92.942	76.439	24.576

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Income	323.506	142.426	1.811
		Other Income	0.141	1.813	1.823
		TOTAL (A)	323.647	144.239	3.634
Less	EXPENSES
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8.549	4.623	0.047
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.549	4.623	0.047
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.755	1.592	0.000
	PROFIT BEFORE TAX (E-F) (G)		6.794	3.031	0.047
Less	TAX (I)		1.951	0.945	0.005
	PROFIT AFTER TAX (G-I) (J)		4.843	2.086	0.040
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.986	(0.100)	(0.140)
	BALANCE CARRIED TO THE B/S		6.829	1.986	(0.100)
	Earnings Per Share (Rs.)		15.26	6.57	--

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	1.50	1.45	1.13
Net Profit Margin (PBT/Sales)	(%)	2.10	2.13	2.60
Return on Total Assets (PBT/Total Assets}	(%)	6.28	2.73	0.29
Return on Investment (ROI) (PBT/Networth)		0.15	0.10	0.00
Debt Equity Ratio (Total Liability/Networth)		1.32	2.82	0.23
Current Ratio (Current Asset/Current Liability)		6.09	2.75	3.50

LOCAL AGENCY FURTHER INFORMATION

Sundry Creditors Details:

Particulars	31.03.2009 Rs. in Millions	31.03.2008 Rs. in Millions	31.03.2007 Rs. in Millions
Sundry Creditors	11.803	26.752	NA

Change of Address:

The Registered Office of the company has been shifted from 24 Dhanlaxmi Market, Near Ravdi Bazar, Kalupur, Ahmedabad – 380 002, Gujarat, India to the present address w.e.f. 08.09.2006.

Fixed Assets

• Land
• Plant and Machinery
• Computer
• Factory Building
• Furniture and Fixtures
• Vehicle

Trade References

• Loyades Steel Industries Limited
• Jyoti Power Transmission Private Limited

Form No. 8

Corporate identity number of the company	U72200GJ2000PLC037622
Name of the company	B M J CABLES LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 562, GIDC Estate, Khatwada, Ahmedabad – 382 460, Gujarat, India
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Standard Chartered Bank, Ground Floor, Abhijeet – II, Mithakhali 6^th Road, Navrangpura, Ahmedabad, Gujarat, India
Nature of instrument creating charge	Memorandum of Entry dated 19.11.2009
Date of instrument Creating the charge	19.11.2009
Amount secured by the charge	Rs.125.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest OD of Rs. 85.000 Millions @ 11% CBN Facility of Rs. 5.000 Millions @ 9% Terms of repayment Repayment through cash flows in overdraft On demand – Renewable after one year Margin 25% on Stock and Book Debts Extent and operation of the charge 1^st charge on properties mentioned in column no. 15 for Rs. 125.000 Millions Others Overdraft of Rs. 85.000 Millions Letter of Credit for Rs. 20.000 Millions Buyers Credit / Import Loan for Rs. 15.000 Millions CBN of Rs. 5.000 Millions Inner Limit to Overdraft facility of LER Rs. 3.000 Millions WCDL Rs. 60.000 Millions Buyrers Credi / Import Loan for Rs. 35.000 Millions
Particulars of the property charged	Property bearing Plot No. 562, Admeasuring 4120 Sq. mts at Kathwada Industrial Area consisting of leasehold Land bearing revenue Survey No. 814 / Padn 51(A)p Village – Kathwada Taluka – Dascroi, District – Ahmedabad.

Corporate identity number of the company	U72200GJ2000PLC037622
Name of the company	B M J CABLES LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 562, GIDC Estate, Khatwada, Ahmedabad – 382 460, Gujarat, India
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Indusind Bank Limited World Business House, Near Parimal Garden, Ahmedabad – 380 006, Gujarat, India
Nature of instrument creating charge	Memorandum recording equitable mortgage by deposit of title deeds
Date of instrument Creating the charge	15.06.2007
Amount secured by the charge	Rs.80.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	· Rate of interest PLR – 2.65% i.e. 13.10% at present · Terms of repayment Repayment of Demand · Margin Stock : 25%, Book Debts : 50% · Extent and operation of the charge Bank shall have exclusive charge over the mortgaged property of the company
Particulars of the property charged	Leasehold land at Phase II, GIDC Industrial Estate, Kathwada, Ahmedabad, Plot No. 562, Admeasuring 4120 Sq. mts. On land S. No. 814 / Part and 51(A) / P at Village, Kathwada – Nikol of Taluka Dascroi and city Amhedabad together with shed constructed, buildings and structures constructed to be constructed and all fixed plant, machinery fixtures and fittings.

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	Indian Rupees
US Dollar	1	Rs.44.45
UK Pound	1	Rs.71.58
Euro	1	Rs.63.01

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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

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.