MIRA INFORM REPORT

Report Date :

05.03.2011

IDENTIFICATION DETAILS

Name :	TRIMEX INDUSTRIES PRIVATE LIMITED (w.e.f. 16.05.1995)
Formerly Known As :	TRIMEX AGENCIES PRIVATE LIMITED
Registered Office :	Trimex Towers, No. 1, Subaraya Avenue, C. P Ramswamy Road, Alwarpet, Chennai-600018. Tamil Nadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	10.12.1984
Com. Reg. No.:	18-11398
CIN No.: [Company Identification No.]	U52321TN1984PLC011398
TAN No.: [Tax Deduction & Collection Account No.]	CHET02459C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Cement Plant

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 1400000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears some losses incurred by the company continuously in two years. However, networth appears to be satisfactory. Trade relations are reported as fair. Payments are reported to be usually 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

LOCATIONS

Registered Office / Factory :	Trimex Towers, No. 1, Subaraya Avenue, C. P Ramswamy Road, Alwarpet, Chennai-600018. Tamil Nadu
Tel. No.:	91-44-24988822/ 24988813
Fax No.:	91-44-24986047
E-Mail :	sisan@trimexgroup.com susan@trimexgroup.com trimexindia@trimexgroup.com vasudevan.s@trimexgroup.com
Website :	www.trimexgroup.com
Overseas Office :	Trimex UAE Trimex International Fze P. O. Box 17056 Jabel Ali, Dubai, U.A.E. Tel No.:+971 4 883 554 Fax No.:+971 4 883 6410 E-Mail: info@trimexgroup.com Trimex Indonesia PT. TRIMEX Indonesia Sudirman Plaza, Plaza Marine 20th Floor, Jl. Jend. Sudirman Kav. 76-78 Jakarta - Selatan 12910, Indonesia Tel No.:+62 21 5793 7050 Fax No.:+62 21 5793 705 E-Mail: indo@trimexgroup.com Trimex Hongkong TRIMEX ASIA LIMITED Unit A, 20th Floor, 9 Queen’s Road Central, Central, Hong Kong Tel No.:  +852 3189 7033 Fax No.:+852 3189 769 E-Mail: trimexhk@trimexgroup.com Trimex Singapore # 08-01, Battery Road, Straits Trading Building, Singapore-049910 Tel No.: +65 6325 0161 Fax No.: +65 6221 3767 E-mail: info@trimexgroup.com

DIRECTORS

As on 27.09.2010

Name :	Mr. Pradeep Koneru
Designation :	Whole Time Director
Address :	10, Cresent Avenue, K P Puram, Chennai-600028, Tamilnadu, India
Date of Birth/Age :	21.08.1977
Date of Appointment :	31.05.2000
DIN No.:	00058587
Name :	Mrs. Vimaladevi Koneru
Designation :	Whole Time Director
Address :	10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilnadu, India
Date of Birth/Age :	17.12.1951
Date of Appointment :	31.10.1996
DIN No.:	00038008
Name :	Mr. Thati Venkataswamy Chowdary
Designation :	Director
Address :	T V Chowdary, B 27, Madhurangar, Hyderabad-500038, Andhra Pradesh, India
Date of Birth/Age :	01.06.1943
Date of Appointment :	03.10.2001
DIN No.:	00010435
Name :	Mr. Satya Krishna Agarwal
Designation :	Director
Address :	C-25, Gulmohar Park, New Delhi-110049, India
Date of Birth/Age :	27.03.1934
Date of Appointment :	17.07.1995
DIN NO.:	00999171
Name :	Mr. Rajendra Prasad Koneru
Designation :	Director
Address :	10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilndau, India
Date of Birth/Age :	12.07.1950
Date of Appointment :	30.10.1996
DIN No.:	00038068
Name :	Mr. Garigipati Subramanaym
Designation :	Director
Address :	304A, Road No. 78, Jubilee Hills, Hyderabad-500034, Andhra Pradesh, India
Date of Birth/Age :	12.09.1954
Date of Ceasing :	30.04.2008
DIN No.:	01308897

KEY EXECUTIVES

Name :	Mr. S Vasudevan
Designation :	Secretary
Address :	15/8, R.K. Nagar, Thrid Cross St, Mandaveli, Chennai-600028, Tamilnadu, India
Date of Birth/Age :	02.03.1960
Date of Appointment :	05.10.2009
PAN No.:	AAIPV1539K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 07.09.2009

Names of Shareholders	No. of Shares
Vimaladevi Rajendra Prasad Koneru 10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilnadu, India	4731500
Madhu Rajendra Prasad Koneru 10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilnadu, India	2509600
Pradeep Rajendraprasad Koneru 10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilnadu, India	2518600
Sivanand K R Athmanthan 1-13, Anna Nagar East, Chennai-600102, Tamilnadu, India	500
V M. Visweswaran Ramprakash 53, IAS Colony, 16^th Main, BTM Layout, II Stage, Bangalore-560076, Karnataka, India	500
Sunkavli Lakshmi S P Dorababu Narasimha Srisha Door No. 9-5-22, Pithapuram Colony, Vishakhapatnam-530003, India	500
Venkanna Chowdari Sunkavali 401, Mayuri Apartments, Kirlampudi Layout, Vishakhapatnam, Andhra Pradesh, India	500
K Lakshmi Narayan Chandra Sekhar 9-D, Karaneswarar Koil Street, 1^st Lane, Santhome, Chennai-600018, Tamilnadu, India	500
Mohan Narasimha Raghavan 17, Jaihind Society, 12^th Road, Juhu Scheme, Mumbai-400049, Maharashtra, India	300
Sathyanarayan Ramachandra Reddy Elaganti Vishwsa Sai Graphics, 11-5-417, A/2 Red Hills, Lakdi Ka Pool, Hyderabad-4, Andhra Pradesh, India	500
Venkat Ramachandra Reddy Eleganti Vishwsa Sai Graphics, 11-5-417, A/2 Red Hills, Lakdi Ka Pool, Hyderabad-4, Andhra Pradesh, India	500
Hanirao Ramaiah Falinen Prop. Book Centre, Main Road, Vijayawada-520001, Andhra Pradesh, India	1000
K R Karuppaiah Annamalai 5, Selvam Nagar, Thanjavur-7 TN	1000
Madhava Investment and Finance company Private Limited 12-13-245, Street No. 15, Tarnaka, Secundrabad-17, Andhra Pradesh, India	1000
Nikkay Finance Investment Private Limited 82, Al Block, 4^th Street, 11^th Main Road, Anna Nagar-West, Chennai-600040, Tamilnadu, India	7000
Chitra R Subramani Ayer C/o R. S. Main, Assistant Accounts Officer, A.O. Kandla Port Trust, AO Building, P.B. No. 50, Gandhidham, Kutch-370201, Gujarat, India	500
Jayanthi S R Subramani Mani C/o R. S. Main, Assistant Accounts Officer, A.O. Kandla Port Trust, AO Building, P.B. No. 50, Gandhidham, Kutch-370201, Gujarat, India	500
Durga Prasad Nationald Auto Hardware Stores, Mudda Subbaiah Street, Vijaywada, Andhtra Pradesh, India	1000
Inayatullah Khan Plot No. 5, Block No. 316, III Cross Road, Auto Nagard, Vijaywada-520007, Andhra Pradesh, India	1000
Naveen Vouganti Management Village, Via, Anatharajapet, Rly Kodur, Cuddapah, Andhra Pradesh, India	1000
IMC Limited 109 G N Chetty Road, T. Nagar, Chennai-600017, Tamilnadu, India	16700
Bhanji Mamu Sanghar Shivshakti Mines, Hamla, Kutch, Gujarat, India	1000
D G R Damodaran Vidyaprakash 35, Race Course, Coimbatore-641018, Tamilnadu, India	3500
Malini K N Devadas Devdas AJ 12/3, Anna Nagar, Chennai-600040, Tamilnadu, India	400
Chituri Subba Rao Chowdari Town Hall, Tanuku, W.G. District, Andhrapradesh, India	2000
Sachinkumar Gopalkrishna Reddy Shetty 27, Silver Sands, Juhu- Tara Road, Mumbai-400049, Maharashtra, India	1800
Gadde Srinivas Veeraraju Rao Chityala (Post), Gopalapuram Mandal, W.G. District, Andhra Pradesh, India	1500
N Suba Rao sarathchandra Flat No. 303, TRCX Road, Sri Datta Sai Apartments, Hyderabad-500020, Andhra Pradesh, India	500
Ullatill Bharat P K Menon Raj 10, Lalithanagar, I Street, Papanasam, Sivan Salai, Mylapore, Chennai-4, Tamilnadu, India	500
G Nageswara Venkataiah Rao 43, Kodambakkam High Road, T. Nagar, Ch-17,m Tamilnadu, India	500
Lalitha Koduri 4 Playground Street, Kilpauk Garden Colony, Chennai-600010, Tamilnadu, India	500
Total	9806400

AS on 17.08.2010

List of Allottees	No. of Shares Allotted
Vimaladevi Rajendra Prasad Koneru 10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilnadu, India	493000
Madhu Rajendra Prasad Koneru 10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilnadu, India	364500
Pradeep Rajendraprasad Koneru 10, Crescent Avenue, K.P. Puram, Chennai-600028, Tamilnadu, India	368500
Total	1226000

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies corporate (not mentioned above)	0.23
Directors or relatives of directors	99.52
Other top fifty (50) shareholders (Other than listed above)	0.25
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Cement Plant

Products :

Product Description	ITC Code
Barytes	25110.01
Bentonite	25081-01
Iron ore Lumps	260111-02
Bauxite	260600-10
Iron Ore Fines	260111-05

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Industrial Minerals	Metric Tonne	783000	783000	13081

GENERAL INFORMATION

Bankers :

State Bank of India, Overseas Branch, No. 86, Rajaji Salai, Chennai-600001, Tamilnadu, India

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Facilities :

SECURED LOAN	31.03.2010 Rs. in Millions	31.03.2009 Rs. In Millions
Loans and Advances form Banks
A) On Hypothecation of Stocks, Book Debts, Advances and other assets, including present and future	761.223	953.291
(The above loans are guaranteed by three directors in their personal capacity)
B) Working Capital Term Loan (Secured by immovable properties of the company)	362.395	0.000
(The above loans are guaranteed by three Directors in their personal capacity)
C ) Secured by Hypothecation
Machinery	13.662	14.009
Car	1.875	5.601
Loans and Advances from Others
Secured by Hypothecation of cars	0.156	2.168
Total	1139.311	975.069
UNSECURED LOANS	31.03.2010 Rs. in Millions	31.03.2009 Rs. In Millions
From directors and directors Relatives	6.000	26.600
From HDFC Bank against property (The above loan is taken against the property belongs to Directors and their relatives and guaranteed by the directors in their personal capacity)	225.640	88.563
Loans From Bank (The above loan is taken against the property belongs to Directors and their relatives and guaranteed by the Directors in their personal capacity)	87.620	0.000
Total	319.260	115.163

Banking Relations :

Satisfactory

Financial Institute:

Sundaram Finance Services Limited, 21, Patullos Road, Chennai-600002, Tamilnadu, India

Auditors :

Name :

B Purushottam and Company

Chartered Accountant

Address :

Flat No. 3-D, “Pioneer Homes”, 23/A, North Boag Road, T. Nagar, Chennai-600017, Tamilnadu, India

Tel. No.:

91-44-28152515/ 42013486

Fax No.:

91-44-42013485

E-Mail :

bpcchennai@airtelbroadband.in

Joint Ventures :

· RAk Minerals and Metals Investments

· Ceramin

· Middle East Coal

· TJ

· Rakindo

Subsidiaries:

Pradeep Shipping and Logistics Private Limited

U63090TN19999PTC041870

Enterprises where significant influence exists :

Trimex Sands Private Limited

U14299A2004PTC042986

Trimex International FZE

Address: P.O. Box 17056, Jubel Ali, Dubai, U.A.E

Tel No.: +971-4-8835544

Fax No.: + 971-4-8836410

E Mail: info@trimexgroup.com

· Lavioss Trimax Industries (Private) Limited

· Sphera Minerals Private Limited

· Sphera Investments Private Limited

· Trimex Ores Private Limited

· Vishwatej Projects Private Limited

· Hyderabad Economic City Developers

CAPITAL STRUCTURE

As on 27.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs. 10/- each	Rs. 120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9806400	Equity Shares	Rs. 10/- each	Rs. 98.064 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs. 10/- each	Rs. 120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8580400	Equity Shares	Rs. 10/- each	Rs. 85.804 Millions

Note:

(Of the above 1847250 shares allotted as fully paid-up by way of Bonus Shares by capitalization of Free Reserves)

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		85.804	85.804	85.804
2] Share Application Money		37.300	0.000	0.000
3] Reserves & Surplus		216.167	357.292	413.379
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		339.271	443.096	499.183
LOAN FUNDS
1] Secured Loans		1139.311	975.069	528.113
2] Unsecured Loans		319.260	115.163	26.600
TOTAL BORROWING		1458.571	1090.232	554.713
DEFERRED TAX LIABILITIES		0.000	0.000	1.869
TOTAL		1797.842	1533.328	1055.765
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		242.802	259.290	143.377
Capital work-in-progress		101.050	76.742	14.084
INVESTMENT		692.032	585.792	15.349
DEFERREX TAX ASSETS		105.728	30.696	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	676.789	626.634	271.634
	Sundry Debtors	156.954	151.798	71.887
	Cash & Bank Balances0	77.190	86.324	98.487
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	361.335	609.974	847.025
Total Current Assets		1272.268	1474.730	1289.033
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	217.413	188.106	148.158
	Other Current Liabilities	337.883	639.314	178.681
	Provisions	60.742	66.502	79.239
Total Current Liabilities		616.038	893.922	406.078
Net Current Assets		656.230	580.808	882.955
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1797.842	1533.328	1055.765

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1336.992	3150.512	3290.628
		Other Operational Income- Crushing Charges	1.250	0.000	0.000
		Other Income	10.571	7.910	6.244
		TOTAL (A)	1348.813	3158.422	3296.872
Less	EXPENSES
		Cost of Material Sold	1288.959	2884.655	2600.271
		Administrative Expenses	82.329	171.590	141.192
		TOTAL (B)	1371.288	3056.245	2741.463
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[22.475]	102.177	555.409
Less	FINANCIAL EXPENSES (D)		178..186	170.161	87.933
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		[200.661]	[67.984]	467.476
Less/ Add	DEPRECIATION/ AMORTISATION (F)		15.496	16.619	17.878
	PROFIT BEFORE TAX (E-F) (G)		[216.157]	[84.603]	449.598
Less	TAX (H)		[75.032]	[29.516]	164.018
	PROFIT AFTER TAX (G-H) (I)		[141.125]	[55.087]	285.580
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		102.147	158.234	123.368
Less	Taxes paid for Earlier years		0.000	1.000	0.714
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	250.000
	BALANCE CARRIED TO THE B/S		[38.978]	102.147	158.234
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1297.708	1568.515	1028.017
	TOTAL EARNINGS		1297.708	1568.515	1028.017
	IMPORTS
		Capital Goods	1.293	1.960	0.741
	TOTAL IMPORTS		1.293	1.960	0.741
	Earnings Per Share (Rs.)		[16.45]	[6.54]	36.97

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	[10.46]	[1.74]	8.66
Net Profit Margin (PBT/Sales)	(%)	[16.17]	[2.69]	13.67
Return on Total Assets (PBT/Total Assets}	(%)	[14.27]	[4.88]	31.39
Return on Investment (ROI) (PBT/Networth)		[0.64]	[0.19]	0.10
Debt Equity Ratio (Total Liability/Networth)		6.11	4.48	1.92
Current Ratio (Current Asset/Current Liability)		2.07	1.65	3.17

LOCAL AGENCY FURTHER INFORMATION

Domestic Sales:

During the year 2009-10, the company has achieved domestic turnover of Rs. 33.488 Millions as compared to Rs. 1530.218 Millions in the previous year. Iron ore continued to be the maximum contributor to this with a turnover of Rs.8.720 Millions as compared to Rs. 1447.938 Millions in the previous year. The decrease has been due to fluctuation in the market, as the company do not have direct allocation Iron Ore and Barite.

Export Sales

During the year 2009-10, the total export turnover has been Rs. 1303.503 Millions as compared to Rs. 1620.294 Millions in the previous year. Iron ore sales was Rs. 814.599 Millions as compared to Rs. 1004.250 Millions in the previous year. Export of barites was Rs. 456.267 Millions as compared to Rs. 521.633 Millions in the previous year.

Profitability:

The company ended up in a loss due to higher finance cost which was due to blockade of funds in inventory due to recession. Efforts are on to counter recession and the aftermath of the recession. The main cause for the loss is due to fluctuation in the market as the company do not have direct allocation. This has created a dent in the profitability. They firmly believe that the next financial year will witness healthy profits.

Contingent Liabilities:

Contingent Liabilities	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Bank Guarantee	66.542	39.477
Letters of Credit Openend	8.936	3.972
Corporate Guarantee on behalf of subsidiary company	2189.241	1789.241
Letter of Undertaking	216.089	216.089
Bills Discounted	--	82.138
Disputed Income Tax under appeal	29.044	--
Total	2509.852	2130.917

Bankers Charges Report as per Registry

Corporate identity number of the company

U52321TN1984PLC011398

Name of the company

TRIMPEX INDUSTRIES PRIVATE LIMITED

Address of the registered office or of the principal place of business in India of the company

Trimpex Towers, No. 1, Subbraya Anvenue, C. P Ramswsamy Road, Chennai-600018. Tamil Nadu, India

This form is for

Modification of Charge

Charge identification number of the charge to be modified

90287186

Type of charge

Book Debts

Movable Property

Particular of charge holder

State Bank of India, Overseas Branch, No. 86, Rajaji Salai, Chennai-600001, Tamil Nadu, India

Nature of instrument creating charge

1. Supplemental Working Capital Consortium Agreement for increase in the overall limit

2. Supplemental Joint Deed of Hypothecation fro increase in the overall limit

3. Inter Se Agreement among SIB, SBP and UCo Bank

4. Letter regarding the grant of Individual limits within the overall limit.

Date of instrument Creating the charge

18.12.2010

Amount secured by the charge

Rs. 1464.500 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest

As Stipulated by the Consortium Banks from time to time.

Terms of Repayment

As Stipulated by the Consortium Banks from time to time

Margin

As Stipulated by the Consortium Banks from time to time.

Extent and Operation of the charge

As mentioned in the Agreement.

Others

Banks	Amounts Rs. In Millions
State Bank of India	1064.500
State Bank of Patiala	400.000
UCO Bank	40.000
Total	1504.500

Short particulars of the property charged

The existing pari passu charge with State Bank of Patiala, on the immovable properties belonging to the company.

Other existing securities shall remain same.

Date of instrument modifying the charge

12.02.2010

Particulars of the present modification

The existing charge on all the present and future Goods, book-debts and other Movable Assets belonging to the company shall continue to secure by way of pari passu charge with S BP and Uco Bank other existing securities remain same.

Date of latest modification prior to the present modification

17.03.2010

Particulars of the present modification

By the present modification the overall limit granted by the Consortium Banks has been enhanced from Rs. 1464.500 Millions to Rs. 1504.500 Millions and secured by the existing charge on all the present and future goods, book-debts and other movable assets belonging to the company, by way of pari passu charge with SBP and UCO Bank.

UCO Bank has been inducted within the Consortium.

Other Existing securities remain same.

Name of the company	TRIMPEX INDUSTRIES LIMITED
Presented By	Mrs. Vimaladevi, Director
1) Date and description of instrument creating the change	Hire Purchase Agreement Dated 21.09.1998
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 3.236 Millions inclusive of finance charges of Rs. 0.847 Million : Finance Cahrge @ 11.81% flat per annum
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hindustan 2021 Loader with Z bar linkage with 1.53 RB Bucket with weld on teeth, driver cabin with Wiper bearing unit serial number 20212442, Engine Numbar WSEM 39263 and Chassis Number EE200WLP value at Rs. 2.390 Millions as detailed in first schedule of Hire Purchase Agreement number 73 dated September 21, 1998
4) Gist of the terms and conditions and extent and operation of the charge.	The amount of Rs. 3.237 Millions is payable in 36 equal installments of Rs. 0.090 Million each. The finance charges is computes at the rate of 11.81% flat p.a.
5) Name and Address and description of the person entitled to the charge.	Sundaram Finance Services Limited, 21, Patullos Road, Chennai-600002, Tamilnadu, India
6) Date and brief description of instrument modifying the charge	NA
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NA

Fixed Assets:

· Land

· Building

· Factory

· Plant and Machinery

· Furniture and Fittings

· Vehicles

· Air Conditioner

· Computer

· Office Equipments

· Electrical Fixtures

· Lab Equipments

· Temp Shed

· Lease Mines

AS PER WEBSITE

Group Profile:

Trimex Group

Founded in 1985 by Prasad Koneru, a mainstay of the minerals business since 1973, Trimex Group was launched to fill the demand supply gap for quality industrial minerals to the oil drilling industry. A noted visionary, Mr Prasad’s organisation has since grown into a leading minerals and metals conglomerate with interests in all areas of the minerals supply chain, from mining and logistics to processing and research and development.

Located in UAE and India, the group has grown in assets and market capitalisation several times over within the past decade. Trimex’s outstanding success is the result of strategic diversification through forward and backward integration, which looks at all aspects of the mineral value chain.

Trimex Group today is one of the region’s largest mineral and metal conglomerate. The company prospects, mines, sources, processes and delivers minerals and metals to the world’s leading oil drilling, ceramic, glass, construction, energy and fertilizer industries.

PROFILE:

Distinction through three decades

Founded in 1985 by Prasad Koneru, a mainstay of the minerals business since 1973, Trimex Group was launched to fill the demand supply gap for quality industrial minerals to the oil drilling industry. A noted visionary, Mr Prasad’s organisation has since grown into a leading minerals and metals conglomerate with interests in all areas of the minerals supply chain, from mining and logistics to processing and research and development.

Located in UAE and India, the group has grown in assets and market capitalisation several times over within the past decade.

Trimex Group today is one of the region’s largest mineral and metal conglomerate. The company prospects, mines, sources, processes and delivers minerals and metals to the world’s leading oil drilling, ceramic, glass, construction, energy and fertilizer industries.

MANAGEMENT

PRASAD KONERU

Prasad Koneru is the Founder-Chairman and Chief Mentor of The Trimex Group, that has global business operations across three business lines - mining, processing and trading and is currently is guiding the group into new verticals and businesses. With wide ranging experience across several industry sectors spanning industrial raw minerals, real estate development, trading, shipping and logistics, Prasad spearheads a group of companies engaged in laterally integrated activities. Prasad Koneru is currently the Managing Director of Rakindo Developers Private Limited . ( 50 - 50 JV between Trimex Group and Rakeen Private Limited; UAE (PJSC) Company promoted by Government of Ras Al Khaimah

He sincerely believes that all those who work in his Group companies across the globe form his large family. Koneru is a deeply religious man, with a kind heart that reaches the poor and needy aptly seen by his various philanthropic activities through the Koneru Prasad Foundation free clinics and schools in Andhra Pradesh

Forging strong ties

In addition to his Group's business, Koneru, performs a key role in promoting investments between UAE and India. He liaises between the State Governments in India and UAE and has espoused many such initiatives across various sectors - Manufacturing, Real Estate, IT etc.

Group Building

With his vast hands on experience and astute business acumen, Koneru, has built the group into becoming a global leader in the field of Industrial Minerals covering industries like Ceramics, Oil Exploration etc.. Subject is now expanding into heavy metals, by processing beach sand on the east coast of India, Once the plant starts production by the end of 2008, Subject would be the first private company in India processing heavy minerals like illuminate, garnet and zircon

Global Vision

Koneru's global business vision and deep sense of understanding of major opportunities in various verticals, has driven the Group to foray in to Real Estate and Infrastructure. His vision of a Green healthy living has seen the birth of a revolutionary entity in RAKINDO - a real estate JV with the Government of Ras Al Khaimah, which would primarily focus on the construction and development of large self-contained , Integrated Townships with world-class standards and amenities in various parts of India. The turnover is expected to cross USD Five billion in the next 5 years.

MADHU KONERU

A socially aware and dynamic young entrepreneur and business leader with a string of achievements to his credit, Madhu Koneru, Managing Director, RAK Minerals and Metals Investments and Executive Director, TRIMEX International FZE, has distinguished himself through his ability to continuously set and achieve newer and higher standards of efficiency and business excellence.

Koneru has demonstrated impeccable leadership qualities throughout his 13-year tenure on the top echelon of the Trimex Group. During this period, the Group has seen stunning growth from US$50 million in 1995 to nearly US$300 million in 2006 and has been reorganized into a portfolio-driven enterprise. Each of its six core areas of concentration: Mining, Processing, Shipping, Logistics, Marketing and Research and Development have grown and developed into state of the art units.

RAK Minerals and Metals Investment (RMMI), a 50% joint venture with the Government of Ras Al Khaimah is one such success story that bears testimony to Madhu Koneru's initiative, entrepreneurial skills and leadership qualities. RMMI was founded in 2005 with $200 million in investments and has grown into a trans-global $4 billion asset conglomerate within a short span of two years. The company has expanded into the markets of Africa, Europe, Indian Sub-continent and the Middle East, as one of the major contenders in the industry.

Alongside his business engagements, Madhu Koneru has successfully helped in cementing business ties between the UAE and India, particularly in his home state of Andhra Pradesh. He is credited with having made lasting contributions to the economic development of Hyderabad, the capital of Andhra Pradesh, which is now internationally hailed as one of India's most developed cities and one with the closest ties with the UAE.

His expertise is regularly sought by the Dubai and Ras-Al-Khaimah Governments in developing initiatives between India and the UAE. He has been instrumental in facilitating a number of bilateral initiatives between the UAE and Andhra Pradesh, including the granting of landing rights for Emirates Airlines in Hyderabad in 2002, the agreement between Emaar and the Andhra Pradesh government for developing a 600 acre township with an 18 hole golf course and the Hitech Convention Centre with a 6000 seating capacity.

Koneru facilitated the signing of an MOU between Dubai World Trade Centre and Andhra Pradesh government for organizing Gitex Hyderabad, setting up of a RAK Ceramics plant in Andhra Pradesh, holding of World Telugu Federation in Dubai, setting up of a plant in Ras Al Khaimah by Pioneer Cement. Through these initiatives, he has played a major role in the economic development of Hyderabad in the last few years.

Having begun his career as a trainee with the TRIMEX Group in 1992, Koneru rose to the position of General Manager in 1995 and Executive Director in 1996. In these roles, he not only expanded his core business across products, sectors and continents, but also diversified to include several other businesses.

During his tenure he has held a number of top leadership positions as member of the Board of Directors, TRIMEX Group, as Director, Al Ghanem Industrial Company, Kuwait, as Managing Director, TJ Shipping and Logistics and Director and as CEO, Vxceed Technologies FZE, Dubai.

A socially active member of the business society, Madhu Koneru is a YEO, India member, a Charter Member of The Indus Entrepreneurs in Dubai and a member of the Indian Business and Professional Council in Dubai.

He believes that leadership is about empowering the team, encouraging them to take risks and make decisions, thereby bringing the best entrepreneurial skills out of them. He believes that successful entrepreneurship is hollow in the absence of solid commitment to the world around, which is teeming with the needy and underprivileged.

Socially aware of the society's needs and as part of his passionate commitment to serving the needy and underprivileged, he runs a trust in India providing free education, medical treatment and employment facilitation.

He has won the Asian Business Award Middle East 2007 for Young Asian Achiever of the year.

Koneru is a sports car enthusiast and a keen golfer having won the title of 'Player of the Year' in 1998.

He has a Bachelor degree in Commerce from the Delhi University and considers his father, Prasad R. Koneru, the founder of Trimex Group, as his greatest source of inspiration.

PRADEEP KONERU

Pradeep Koneru oversees the Indian operations of the Trimex Group as the Executive Director of the company. Pradeep holds a degree in mechanical engineering, and has been instrumental in the development of the iron ore, barite and bauxite businesses on the subcontinent, as well as the establishment of the Trimex Sands division. Through the strategy of growth through diversification and forward and backward integration, Trimex’s India Group has enjoyed consistent growth in scale and profitability.

OPERATIONS

TRIMEX INDIA

subject commenced operations in 1985 in India, focussing mainly on production and export of Barite, Bentonite, and has since then diversified its mineral operations into all areas of the mineral value chain, including a recent foray into the extraction of heavy minerals via Trimex Sands.

Trimex Industries

Trimex Industries mines and procures the raw materials from various mines and process them as per customer requirements. Typically, Trimex provides the equipment, infrastructure, manpower and logistics to enable efficient production. Currently, subject holds mineral sales agreements for a number of iron ore and bauxite mines including investment of more than 50% in sum, and produces more than 1.2 million tons of iron and 300,000 mts of Bauxite per annum. The company is also developing processing hubs to handle and process Barite, Bentonite and Calcium Carbonate.

Trimex Sands

Trimex Group identified the Titanium related business as an opportunity with great future and went on to identify suitable deposits from the year 1999. After successfully getting all required clearances on one of its Major deposits, Trimex started its journey towards goal of setting up an integrated World Class Titanium Complex in the State of Andhra Pradesh, India.

Trimex Sands Private Limited (TSPL) has been granted a mining lease for Srikurmam deposit covering an area of 7.2 sq kms stretch of coastline in the Srikakulam district of Andhra Pradesh. TSPL has set up Mining and Mineral separation facilities in Srikakulam, Andhra Pradesh to produce various heavy minerals i.e Ilmenite (200,000 TPA), Rutile (5,000 TPA), Zircon (5,000 TPA), Garnet (50,000 TPA) and Sillimanite (50,000 TPA) from beach sands based on the Srikurmam deposit.

Trimex Sands is expanding their business interest at Kalingapatnam-Bhavanapadu Mineral Deposit, which is adjacent to Srikurmam deposit. The company has also been granted prospecting license for an area of 40 sq kms at Kalingapatnam-Bhavanapadu. The company have completed the prospecting within the granted area and based on the Prospecting report have applied for Mining lease. The applications for mining leases are under process. The detailed feasibility study has been commissioned for beneficiating 300,000 MTPA of Ilmenite with SRK Consultants, U.K and Bateman Minerals, South Africa. The Definitive Feasibility Study is scheduled to be completed by Jan 2011 and project execution will commence from June 2011.

As a part of Trimex Sands growth plans, it is in the final stage of negotiations with technology providers for setting up the largest titanium dioxide pigment plant (60,000 MTPA), Ti-Slag (145,000 MTPA) and Ti-Metal (10,000 MTPA), first of its kind in the country in the Private Sector at an estimated cost of Rs.40000.000 Millions

SRIKURMAM PROJECT :

Trimex Group has set up Mining and Mineral separation facilities based on the existing Srikurmam deposit in Srikakulam, Andhra Pradesh to produce heavy minerals i.e Ilmenite, Rutile, Zircon, Garnet and Sillimanite. Srikurmam mineral sand deposit lie on the Andhra Pradesh coastal line, east on Bay of Bengal and it is 15 Km away from Srikakulam, the District Head quarter in Andhra Pradesh. Mining lease for an area of 7.2 Sq.Km in Srikurmam near Srikakulam, Andhra Pradesh. The Mining lease is distributed to two adjacent deposits viz Vatchavalasa and Tonangi. Mining and mineral separation facilities based on the Srikurmam deposit constructed through EPC contract by Walchand Nagar Industries Limited, Pune along with the Technology Provider being Downer EDI Mining, Australia. The production capacities of the current Project are

Ilmenite 200,000 TPA Rutile 6,000 TPA

Ilmenite and rutile are ores of titanium--a metal that`s strong (as strong as steel and twice as strong as aluminum) lightweight, non-corrosive, able to withstand temperature extremes (especially its high melting point 1800 K). Titanium alloys find many applications in high tech airplanes, missiles, space vehicles and even in surgical implants.

Zircon 6,000 TPA

Zircon flour plays a major role in the production of ceramics; Zirconium oxide is a common refractory material. Zircon sand is commercially extracted for the metal zirconium that is used as an abrasive and insulation.

Garnet 60,000 TPA

Garnet sand is a good abrasive and a common replacement for silica sand in sand blasting. Mixed with very high pressure water garnet is used to cut steel and other materials in water jets. Garnet sand is also used for water filtration media.

Sillimanite 50,000 TPA

Sillimanite is considered the best raw material for the manufacture of high alumina refractories. Sillimanite powder mixed with high-grade china-clay is used in the manufacture of high voltage spark plugs and insulating materials.

The company draws power from a dedicated 33KV power line installed at Chilakapalem sub-station 40 km away. The company also has Diesel Generators for captive and 100 % power backup. Water is drawn from the nearest river source through a dedicated 9 Km Pipe line laid by the company. Trimex has ensured utility requirements i.e Power, Water, Road etc. for effective running of the plant. The most environmental friendly mining methodology is being adopted by the company. After processing of raw sand and separation of heavy minerals, sand is pumped back by mechanised way to the mined out area for back filling.

Trimex is proud to announce

· Successful commissioning of one of the largest mineral separation plant for Heavy mineral separation from Beach sands in Indian Sub-continent.

· World`s unique plant which separates 5 minerals i.e Ilmenite, Rutile, Zircon, Garnet and Sillimanite.

· World`s highest capacity of producing Sillimanite and Garnet.

TRIMEX INTERNATIONAL

Trimex International was incorporated in Dubai in 1995. Initially, the organisation was involved in the trading of Industrial Minerals in the Gulf and international markets. Under Mr. Madhu Koneru, Trimex International has grown rapidly through diversification and vertical integration, which included mining, processing and the creation of companies to cater to specific business needs.

Trimex Trading

The company trades in industrial minerals such as Barite, Bentonite, Bauxite, Gypsum, Dolomite, Rock Phosphate, Iron Ore and so on, for the Oil Drilling, Cement, Ceramic, Glass, Fertilisers, Iron and Steel Industries. The company client base includes world leaders like Halliburton, Schlumberger, Hindustan Lever, Coromondel Fertilsers Limited, NPCC, Abu Dhabi, among many others.

Trimex Processing

The group currently has two processing plants in the Middle East, one in Kuwait and the other in Ras Al Khaimah. Both hubs process ore sourced from around the world, and then ship the high quality product to countries across the region and beyond. The UAE plant is equipped with a world-class laboratory, fitted with cutting edge equipment for quality control and research and development, and has been awarded the ISO-9001:2000. The company is currently in the process of setting up similar processing plants in the Far East.

JOINT VENTURES

RAK Minerals and Metals Investments (RMMI) is the result of a strong partnership between RAK Investment Authority (RAKIA), a government of Ras Al Khaimah initiative and Trimex Group. It was founded as part of RAK government's strategy to cater to the growing demand for mineral and metal resources for the Emirate's various industrial ventures, and to identify emerging opportunities worldwide. RMMI today is a holding company with three subsidiaries - Ceramin, RAK Minerals and Metals, and RAK Coal and Energy.

Ceramin provides turnkey minerals solutions for the ceramics industry, delivering kaolin, ball clay and feldspar to ceramic manufacturers throughout the Middle East. From surveying and exploration to mining and processing, Ceramin's vision is to deliver cost-effective regional resources for the ceramics industry.

RAK Minerals and Metals

This is a venture founded to pursue opportunities in base metals and minerals, such as copper, lead, zinc, limestone and aggregates etc. The company has currently identified significant opportunities in the Democratic Republic of Congo, primarily in the mining and processing of copper, limestone and aggregates. Significant stakes have been acquired in two companies, holding vast copper mines, and one company with mining concessions for limestone and aggregate. The company has also acquired controlling stake in large copper mines in East Europe and is in the process of setting a Copper Smelter.

Middle East Coal

A part of RAK Investment Authority

Middle East Coal (MEC) was founded to bridge demand-supply gap for energy resources in Asia-Pacific. Located in Singapore, the company's core objective is to invest in all areas related to the coal industry in Indonesia. With a long term investment strategy in place, the company plans to invest in projects with a consolidated outlook on coal mining and the development of the underlying logistics and infrastructure. MEC also plans to invest in processing technology that enhances the calorific value and energy utility of sub-bituminous coal found in abundance in Indonesia.

TJ

TJ Shipping and Logistics Headquartered in Dubai, is a member of the Trimex Group, providing in-house shipping and logistics to the organisation. Due to the group's rapid expansion, TJ Shipping has evolved to provide personalised bulk shipping and logistics solutions to third parties.

TJ Shipping prides itself not only on its ability to provide efficient and cost effective shipping and logistics services irrespective of magnitude, but in providing solutions that are crafted to suit local conditions. Many of the company's recent contracts have been ground breaking and have been successfully conducted under extremely difficult circumstances. TJ Shipping offers analysis of port features or markets has a network of shipping related partners and guarantees performance and delivery.

RAKINDO

RAKINDO Developers is a 50:50 joint venture between Trimex Group and Rakeen, a company promoted by the government of Ras Al Khaimah. Rakindo plans to invest up to $5 billion in Indian real projects over five years in mixed-use and industrial developments and SEZs. This would be one of the largest investments in the Indian real estate market by an international organisation.

RAK Coal and Energy

A US$300 million venture spanning two continents, RAK Coal and Energy has acquired major coal mines in Indonesia, which will be mined and shipped to the UAE for conversion into energy resources.

Middle East Coal (MEC) was founded to bridge demand-supply gap for energy resources in Asia-Pacific. Located in Singapore, the company's core objective is to invest in all areas related to the coal industry in Indonesia. With a long term investment strategy in place, the company plans to invest in projects with a consolidated outlook on coal mining and the development of the underlying logistics and infrastructure. MEC also plans to invest in processing technology that enhances the calorific value and energy utility of sub-bituminous coal found in abundance in Indonesia.

TJ Shipping and Logistics Headquartered in Dubai, is a member of the Trimex Group, providing in-house shipping and logistics to the organisation. Due to the group's rapid expansion, TJ Shipping has evolved to provide personalised bulk shipping and logistics solutions to third parties.

TJ Shipping prides itself not only on its ability to provide efficient and cost effective shipping and logistics services irrespective of magnitude, but in providing solutions that are crafted to suit local conditions. Many of the company's recent contracts have been ground breaking and have been successfully conducted under extremely difficult circumstances. TJ Shipping offers analysis of port features or markets has a network of shipping related partners and guarantees performance and delivery.

RAKINDO Developers is a 50:50 joint venture between Trimex Group and Rakeen, a company promoted by the government of Ras Al Khaimah. Rakindo plans to invest up to $5 billion in Indian real projects over five years in mixed-use and industrial developments and SEZs. This would be one of the largest investments in the Indian real estate market by an international organisation.

NEWS:-

Ceramin is an associate company of Trimex, a regional leader in providing total mineral solutions across industry verticals like oil and gas, glass, construction, steel, cement and fertiliser. Established in 1985, subject today is synonymous with outstanding quality, commitment and a customer-centric focus. It is the preferred partner of leading global brands for their mineral requirements.

Across the Middle East and Asia, the ceramic and tile industry is witnessing an era of unprecedented growth. Manufacturers are compelled to strive for better quality and cost efficiency to remain competitive. At Ceramin, we partner the client, understand his specific requirements and then provide not just customised raw materials but a turnkey, end-to-end supply chain solution.

At Ceramin, our people are our greatest strength. Each member brings with him years of industry- specific experience, in mining, manufacturing, processing and research and development. This enables them to provide the all- essential perspective, important for delivering innovative and practical solutions to your needs.

· We provide total mineral solutions to ceramic manufacturers

· End-to-end supply chain

· Vast regional knowledge base

· Talented, experienced team

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.44.99
UK Pound	1	Rs.73.24
Euro	1	Rs.62.80

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--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	YES
--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	YES
--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
-	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.