MIRA INFORM REPORT

Report Date :

04.11.2011

IDENTIFICATION DETAILS

Name :	NATIONAL ENGINEERING INDUSTRIES LIMITED (w.e.f. 1958)
Formerly Known as :	NATIONAL BEARING COMPANY LIMITED
Registered Office :	9/1, R. N. Mukherjee Road, Birla Building, 11^th Floor, Kolkata-700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	24.04.1946
Com. Reg. No.:	21-13643
Capital Investment / Paid-up Capital :	Rs.8.000 Millions
CIN No.: [Company Identification No.]	L29130WB1946PLC013643
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer and exporter of Ball Bearings, Steel Balls, Tapered Roller Bearings, Cylindrical Roller Bearings and Axle Boxes for Railway Rolling Stock including Spherical Roller Bearings, Cartridge Tapered Roller Bearings and Large Special Bearings.

RATING & COMMENTS

MIRA’s Rating :

A (67)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 13000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 :	9/1, R. N. Mukherjee Road, Birla Building, 11^th Floor, Kolkata-700 001, West Bengal
Tel. No.:	91-33-22420910/22430383
Fax No.:	91-33-22101912
E-Mail :	neical@vsnl.com neical@neibearing.com
Website :	www.neibearing.com
Head office/ Factory 1:	Khatipura Road, Jaipur 302 006, Rajasthan, India
Factory 2:	Village Gunsi, Tehsil Newai. District Tonk, Rajasthan, India
Factory 3:	Plot No. 163, Sector 3, Industrial Estate Ch. Devilal IMT, Manesar, District Gurgaon, Haryana, India
Factory 4:	2 Beerpara Lane, DUM Dum, Kolkata 700 030, West Bengal, India
Branches:	Located at: · Mumbai · New Delhi · Mumbai · Pune · Chennai

DIRECTORS

As on : 07.07.2011

Name :

Mr. Chandra Kant Birla

Designation :

Chairman cum Managing Director

Address :

8/9, Alipore Road, Kolkata-700 027, West Bengal, India

Date of Birth/Age:

23.02.1979

Date of Appointment :

09.01.1955

Din No.:

00118473

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L21011OR1936PLC000117	ORIENT PAPER AND INDUSTRIES LIMITED.	Director	29-09-78	29-09-78	-	Active	NO
2	L29130WB1946PLC013643	NATIONAL ENGG.INDUSTRIES LIMITED	Director	23-02-79	23-02-79	-	Active	NO
3	L74999AP1955PLC000656	HYDERABAD INDUSTRIES LIMITED	Director	04-02-80	04-02-80	-	Active	NO
4	L34103WB1942PLC018967	HINDUSTAN MOTORS LIMITED	Director	13-01-82	13-01-82	-	Active	NO
5	U74899DL1995PLC064560	BIRLASOFT (INDIA) LIMITED	Director	20-01-95	20-01-95	-	Active	NO
6	U74999MH1932PLC001910	INDIAN SMELTING AND REFINING COMPANY LIMITED	Director	31-10-00	31-10-00	-	Active	NO
7	U34103MP2005PLC017319	AVTEC LIMITED	Nominee director	28-06-05	28-06-05	-	Active	NO
8	L24231DL2003PLC119441	FRESENIUS KABI ONCOLOGY LIMITED	Director	27-01-06	27-01-06	29-08-07	Active	NO
9	U51109WB1918PTC003010	BIRLA BROTHERS PRIVATE LIMITED	Director	29-12-08	29-12-08	-	Active	NO
10	U26940OR2011PLC013933	ORIENT CEMENT LIMITED	Additional director	23-07-11	23-07-11	-	Active	NO

Name :

Mrs. Amita Birla

Designation :

Director

Address :

8/9, Alipore Road, Kolkata-700 027, West Bengal, India

Date of Birth/Age :

07.12.1956

Date of Appointment :

30.07.2008

Din No.:

00837718

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U67190MP1901PLC000439	GWALIOR FINANCE CORPORATION LIMITED	Director	27-01-81	27-01-81	-	Active	NO
2	U65921WB1946PLC014242	HINDUSTHAN DISCOUNTING CO LIMITED	Director	24-03-84	24-03-84	-	Active	NO
3	U74899DL1995PLC064560	BIRLASOFT (INDIA) LIMITED	Director	16-03-95	16-03-95	-	Active	NO
4	U74999MH1932PLC001910	INDIAN SMELTING AND REFINING COMPANY LIMITED	Director	10-06-08	11-07-07	-	Active	NO
5	L29130WB1946PLC013643	NATIONAL ENGG.INDUSTRIES LIMITED	Additional director	30-07-08	30-07-08	-	Active	NO

Name :

Mr. Kashinath Memani

Designation :

Director

Address :

177-C, Western Avenue, Lane W-7, Sainik Farms, New Delhi-110 062, Delhi, India

Date of Birth/Age :

01.01.1939

Date of Appointment :

30.04.2004

Din No.:

00020696

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1992PTC048015	HT CONSULTANCY SERVICES PRIVATE LIMITED	Director	01-04-04	01-04-04	08-02-10	Active	NO
2	L65190MH2003PLC143249	YES BANK LIMITED	Director	01-04-04	01-04-04	11-12-07	Active	NO
3	U74140DL2004PTC125551	KNM ADVISORY PRIVATE LIMITED	Director	01-04-04	01-04-04	-	Active	NO
4	L29130WB1946PLC013643	NATIONAL ENGG.INDUSTRIES LIMITED	Director	30-04-04	30-04-04	-	Active	NO
5	L23109MP1972PLC008290	HEG LIMITED	Director	30-04-04	30-04-04	-	Active	NO
6	L22121DL2002PLC117874	HT MEDIA LIMITED	Director	05-05-04	05-05-04	-	Active	NO
7	U92113DL2000PTC104336	KALEIDOSCOPE ENTERTAINMENT PRIVATE LIMITED	Director	28-09-04	11-05-04	27-08-08	Active	NO
8	L17124MH1986PLC166615	INDO RAMA SYNTHETICS (INDIA) LIMITED	Director	21-07-04	21-07-04	09-07-08	Active	NO
9	U74140MH2004PTC147603	AEGON INDIA PRIVATE LIMITED	Director	21-07-04	21-07-04	-	Active	NO
10	U48985WB1992PLC095301	GREAT EASTERN ENERGY CORPORATION LIMITED	Director	26-10-04	26-10-04	-	Active	NO
11	U80301HR1998PTC036306	GLOBAL EDUCATION MANAGEMENT SYSTEMS PRIVATE LIMITED	Director	06-12-04	06-12-04	08-08-08	Active	NO
12	L24111UR1983PLC009097	INDIA GLYCOLS LIMITED	Director	22-06-05	22-06-05	12-06-09	Active	NO
13	U74999MH1968GAP014120	INDO-AMERICAN CHAMBER OF COMMERCE	Director	29-09-05	29-09-05	-	Active	NO
14	L70101HR1963PLC002484	DLF LIMITED	Director	29-09-06	21-04-06	-	Active	NO
15	L63993WB1983PLC036030	EMAMI LIMITED	Director	15-05-06	15-05-06	-	Active	NO
16	U72200MH1989PLC166901	ICICI VENTURE FUNDS MANAGEMENT COMPANY LIMITED	Director	06-09-07	12-01-07	-	Active	NO
17	U72900DL2000PLC104989	SPICE DIGITAL LIMITED	Director	29-09-10	26-01-08	-	Active	NO
18	U66010MH2007PLC169110	AEGON RELIGARE LIFE INSURANCE COMPANY LIMITED	Director	22-07-08	31-05-08	-	Active	NO
19	U74899DL1980PTC011082	SPICE TELEVENTURES PRIVATE LIMITED	Director	30-09-08	28-07-08	18-06-09	Amalgamated	NO
20	L74999RJ1938PLC019511	JK LAKSHMI CEMENT LIMITED	Director	25-07-09	05-08-08	-	Active	NO
21	U72900DL2008PTC178018	SPICE INNOVATIVE TECHNOLOGIES PRIVATE LIMITED	Additional director	12-03-09	12-03-09	12-06-09	Active	NO
22	L24124RJ1985PLC003293	CHAMBAL FERTILISERS AND CHEMICALS LIMITED	Director	27-08-10	21-07-09	-	Active	NO
23	U93000DL2009PTC194373	KK ADVISORY PRIVATE LIMITED	Additional director	13-02-10	13-02-10	02-03-10	Active	NO
24	L72900UP1986PLC008448	S MOBILITY LIMITED	Director	29-09-10	24-04-10	-	Active	NO
25	U91100DL2009NPL197064	INVEST INDIA	Director	21-12-10	18-05-10	-	Active	NO
26	U85110DL1991PTC042646	G.M. MODI HOSPITALS CORPORATION PRIVATE LIMITED	Director	22-07-11	22-07-11	-	Active	NO

Name :

Mr. Manohar Lal Panchisia

Designation :

Director

Address :

8/12, Alipore Road, Kolkata-700 027, West Bengal, India

Date of Birth/Age :

06.01.1944

Date of Appointment :

21.03.1994

Din No.:

00065431

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L29130WB1946PLC013643	NATIONAL ENGG.INDUSTRIES LIMITED	Director	21-03-94	21-03-94	-	Active	NO
2	U67190MP1901PLC000439	GWALIOR FINANCE CORPORATION LIMITED	Director	27-05-96	27-05-96	-	Active	NO
3	U35202WB1966PLC026980	GMMCO LIMITED	Director	20-11-96	20-11-96	-	Active	NO
4	L21011OR1936PLC000117	ORIENT PAPER AND INDUSTRIES LIMITED	Managing director	23-09-08	23-09-97	-	Active	NO
5	U51900WB1966PLC026949	SOORYA VANIJYA AND INVESTMENTS LIMITED	Director	16-10-98	16-10-98	-	Active	NO
6	U70109WB1946PLC014112	BIRLA BUILDINGS LIMITED	Director	09-12-02	09-12-02	-	Active	NO
7	U72200DL1999PLC100410	BIRLASOFT ENTERPRISES LIMITED	Director	21-12-05	21-12-05	-	Active	NO
8	U29130RJ1948PLC000583	NATIONAL BEARING COMPANY (JAIPUR) LIMITED	Director	28-12-05	28-12-05	-	Active	NO
9	U74899DL1995PLC064560	BIRLASOFT (INDIA) LIMITED	Director	07-07-06	07-07-06	-	Active	NO
10	U26940OR2011PLC013933	ORIENT CEMENT LIMITED	Director	22-07-11	22-07-11	-	Active	NO
11	U29299WB1960PLC024693	SPECIAL ENGG. SERVICES LIMITED	Director	30-08-11	30-08-11	-	Active	NO

Name :

Mr. Jagdish Prasad Chhaochharia

Designation :

Director

Address :

6 C, Short Street, Kolkata-700 016, West Bengal, India

Date of Birth/Age :

26.11.1931

Date of Appointment :

28.12.1979

Din No.:

00065287

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U67190MP1901PLC000439	GWALIOR FINANCE CORPORATION LIMITED	Director	03-11-69	03-11-69	-	Active	NO
2	L29130WB1946PLC013643	NATIONAL ENGG.INDUSTRIES LIMITED	Director	28-12-79	28-12-79	-	Active	NO
3	U67120WB1946PLC013689	ASHOK INVESTMENT CORPORATION LIMITED	Director	29-04-84	29-04-84	-	Active	NO
4	U52500WB1928PLC005895	BENGAL STORES LIMITED	Director	22-09-86	22-09-86	-	Active	NO
5	U29130RJ1948PLC000583	NATIONAL BEARING COMPANY (JAIPUR) LIMITED	Director	28-06-94	28-06-94	-	Active	NO
6	U51909WB1947PLC015860	CHHOTANAGPUR GENERAL TRADING CO LIMITED	Director	22-08-94	22-08-94	-	Amalgamated	NO
7	U21093WB1955PLC022651	EASTERN INDIA SERVICES AND MARKETING COMPANY LIMITED.	Director	20-09-99	20-09-99	-	Active	NO
8	U35202WB1966PLC026980	GMMCO LIMITED	Director	08-02-01	08-02-01	-	Active	NO
9	L02710MP1938PLC000132	CENTRAL INDIA INDUSTRIES LIMITED.	Whole-time director	01-04-10	26-05-03	-	Active	NO
10	U70101WB1932PLC007341	BASANT PROPERTIES LIMITED.	Director	15-06-05	15-06-05	-	Active	NO
11	U65191WB1935PLC008270	JUTE INVESTMENT CO LIMITED	Director	28-09-05	28-09-05	-	Active	NO

Name :

Mr. Haigreve Khaitan

Designation :

Director

Address :

B-103, Raj Enclave, 7/1A, Sunny Park, Kolkata-700 019, West Bengal, India

Date of Birth/Age :

13.07.1970

Date of Appointment :

05.02.1998

Din No.:

00005290

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U29192WB1972PTC028222	VINAR SYSTEMS PRIVATE LIMITED	Director	01-08-94	01-08-94	-	Active	NO
2	L01119KL1978PLC002947	HARRISONS MALAYALAM LIMITED	Director	14-03-95	14-03-95	-	Active	NO
3	L29130WB1946PLC013643	NATIONAL ENGG.INDUSTRIES LIMITED	Director	05-02-98	05-02-98	-	Active	NO
4	L25100MH1958PLC011041	CEAT LIMITED	Director	29-07-99	29-07-99	-	Active	NO
5	L25209WB1997PLC085972	XPRO INDIA LIMITED	Director	13-10-99	13-10-99	-	Active	NO
6	U13202TZ1960PLC000372	THE MADRAS ALUMINIUM COMPANY LIMITED	Director	28-08-00	28-08-00	20-07-11	Active	NO
7	U74140DL1970PLC005314	KHAITAN CONSULTANTS LIMITED	Director	08-02-01	08-02-01	-	Dormant	NO
8	L26100GJ1988PLC011663	GUJARAT BOROSIL LIMITED	Director	30-01-02	30-01-02	15-01-09	Active	NO
9	L31300DN2000PLC000340	STERLITE TECHNOLOGIES LIMITED	Director	30-07-03	30-07-03	-	Active	NO
10	L15492WB1916PLC002697	DHUNSERI PETROCHEM AND TEA LIMITED	Director	23-09-03	23-09-03	03-07-10	Active	NO
11	L21010GJ1991PLC019432	RAMA NEWSPRINT AND PAPERS LIMITED	Director	19-09-08	09-01-04	-	Active	NO
12	U65999MH2002PTC134398	BTS INVESTMENT ADVISORS PRIVATE LIMITED	Director	03-02-04	03-02-04	-	Active	NO
13	U72900WB2004PTC098938	NEOWORTH PRIVATE LIMITED	Director	27-07-04	27-07-04	31-07-07	Amalgamated	NO
14	U72200WB2004PTC100314	LEGAL OUTSOURCING PRIVATE LIMITED	Director	28-12-04	28-12-04	-	Active	NO
15	U51909WB2004PTC100164	HIGH GROWTH DISTRIBUTORS PRIVATE LIMITED	Director	28-12-04	28-12-04	-	Active	NO
16	U51909WB2004PTC100166	HITECH DEALERS PRIVATE LIMITED	Director	28-12-04	28-12-04	-	Active	NO
17	U51102WB1996PTC081772	SARVASIDDHI COMMERCIALS PRIVATE LIMITED	Director	28-01-05	28-01-05	-	Active	NO
18	L21300WB1973PLC028854	INTERNATIONAL CONVEYORS LIMITED.	Director	23-04-05	23-04-05	29-10-07	Active	NO
19	U34103MP2005PLC017319	AVTEC LIMITED	Nominee director	28-06-05	28-06-05	-	Active	NO
20	U72300DL1999PTC100368	TECTURA INFOTECH PRIVATE LIMITED.	Director	12-12-05	12-12-05	22-03-07	Active	YES
21	L15432UP1932PLC025186	THE OUDH SUGAR MILLS LIMITED	Director	17-01-06	17-01-06	-	Active	NO
22	U48985WB1992PLC095301	GREAT EASTERN ENERGY CORPORATION LIMITED	Director	06-02-06	06-02-06	-	Active	NO
23	L17120MH1946PLC005227	NRC LIMITED	Director	24-07-06	24-07-06	30-07-07	Active	NO
24	U51900WB2006PTC109716	CHARAIVETI VYAPAAR PRIVATE LIMITED	Director	09-08-06	09-08-06	17-12-08	Amalgamated	NO
25	L29120MH1964PLC012955	HINDUSTAN COMPOSITES LIMITED	Alternate director	29-10-09	04-09-06	07-09-10	Active	NO
26	L22210MH1987PLC044505	TCPL PACKAGING LIMITED	Additional director	29-06-07	29-06-07	27-05-10	Active	NO
27	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Director	27-07-10	14-09-07	12-08-11	Active	NO
28	L92199GJ1999PLC044045	INOX LEISURE LIMITED	Director	19-09-08	22-10-07	-	Active	NO
29	U72200WB1997PTC082498	VENTURE INFOTEK GLOBAL PRIVATE LIMITED	Alternate director	16-01-08	16-01-08	10-04-08	Active	NO
30	U99999MH2000PTC128067	TIARA COMTRADE PRIVATE LIMITED	Director	17-09-08	31-03-08	-	Active	NO
31	U51100MH2000PTC129530	XANTI COMMERCIAL PRIVATE LIMITED	Director	22-09-08	31-03-08	-	Active	NO
32	U33100MH1986PTC221693	MILLIPORE (INDIA) PRIVATE LIMITED	Director	18-05-09	09-09-08	20-11-09	Active	NO
33	L27105HR1979PLC009913	JINDAL STEEL AND POWER LIMITED	Director	29-09-09	14-01-09	-	Active	NO
34	L01110MH2006PLC161345	BAJAJ CORP LIMITED	Director	25-06-10	04-02-10	-	Active	NO
35	L27106WB1984PLC037519	JSW ISPAT STEEL LIMITED	Additional director	13-01-11	13-01-11	-	Active	NO
36	U26940OR2011PLC013933	ORIENT CEMENT LIMITED	Additional director	23-07-11	23-07-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. R. K. Saboo
Designation :	Sr. Vice President
Division :	Finance and Supply
Email ID :	rksaboo@nbcbearings.in

Name :	Mr. D. K. Sharma
Designation :	Vice President
Division :	Personnel and IR
Email ID :	dksharma@nbcbearings.in

Name :	Mr. Srinivasulu Dampur
Designation :	Vice President
Division :	R and D
Email ID :	srini@nbcbearings.in

Name :	Mr. Srinivasulu Dampur
Designation :	Vice President
Division :	R and D
Email ID :	srini@nbcbearings.in

Name :	Mr. Rohit Saboo
Designation :	President and CEO
Email ID :	rsaboo@nbcbearings.in

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 07.07.2011

Names of Shareholders	No. of Shares
Rajasthan Industries Limited, India	10
Central India Industries Limited, India	10
Bengal Rubber Company Limited, India	395960
Amer Investments (Delhi) limited, India	393146
Hindustan Discounting Company Limited, India	10
Gwalior Finance Corporation Limited, India	10
Hitaish Investments Limited, India	2000
Birla Kant Chandra	8854
Total	800000

As on 07.07.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	98.89
Directors or relatives of directors	1.11
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and exporter of Ball Bearings, Steel Balls, Tapered Roller Bearings, Cylindrical Roller Bearings and Axle Boxes for Railway Rolling Stock including Spherical Roller Bearings, Cartridge Tapered Roller Bearings and Large Special Bearings.

Products :

Item Code No. (ITC Code)	84.82
Product Description	Ball and Roller Bearings
Item Code No. (ITC Code)	40
Product Description	Rubber Moulded and Extruded Goods
Item Code No. (ITC Code)	-
Product Description	Execution of Turnkey Contracts

GENERAL INFORMATION

Bankers :

The Bank of Nova Scotia, Classic Towers, P.O. Box 3749, 1547 Trichy Road, Coimbatore, CPO-641 018, Tamil Nadu, India. State Bank of India, 34, Jawaharlal Nehru Road, Kolkata-700 071, West Bengal, India State Bank of Bikaner and Jaipur, 14 N. S. Road, Kolkata-700 001, West Bengal, India UCO Bank, 10, B. T. M. Sarani, Kolakata-700 001, West Bengal, India Punjab National Bank, 31 Chowringhee Road, Kolkata-700 001, West Bengal, India Kotak Mahindra Bank Limited, 57, S. P. Marg, C. Scheme, Jaipur-302 001, India State Bank of Indore, 161, C.R. Avenue, Kolkata-700 007, West Bengal, India IDBI Bank Limited, 119, Park Street, Kolkata-700 016, , West Bengal, India Standard Chartered Bank, Narain Manzil, 23 Barakhamba Road, New Delhi-110 001, India Barclays Bank PLC, Eros Corporate Tower, Nehru Place, New Delhi-110 019, Delhi, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Banks
Cash Credit	348.737
Buyers Credit	799.405
Rupees Term Loan	54.306	3343.603
External Commercial Borrowings	758.590
Total	1887.046	3343.603
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Fixed Deposits
Short Term Loan	45.575
From Banks	190.000
From Subsidiary	140.000
From Body Corporate	--	648.811
Commercial paper (About term)
From Banks	200.000
From Financial Installation	650.000
Total	1025.576	648.811

Notes : Maximum amount fixed at any time during the year Rs. 880.000 millions.

Banking Relations :

---

Auditors :

Name :

Raj Agarwal

Chartered Accountants

Address :

Golf View Corporate Tower B, Sector – 42, Sector Road, Gurgaon – 122002, Haryana, India

Pan No.:

AALFS0506L

Joint Ventures:

• Birla Associates Pte. Limited
• Birla Enterprises Limited (Subsidiary of Birla Associates Pte. Limited)

Subsidiaries :

• National Bearing Company (Jaipur) Limited

CIN No.: U29130RJ1948PLC000583

• Nei Properties Limited

CIN No.: U70200WB1989PLC046103

• Birlasoft Finance Limited
• Birlasoft Enterprises Limited

CIN No.: U72200DL1999PLC100410

• Birlasoft (India) Limited

CIN No.: U74899DL1995PLC064560

• Birlasoft U K Limited
• Birlasoft Inc
• Birlasoft Sdn. Bhd
• Birlasoft Gmbh
• Birlasoft Limited

CIN No.: U72900DL2010PLC197773

Associates Company :

• Birla GTM Enterprises
• Amar Investment (Delhi) Limited (w.e.f. December 5, 2007)
• Universal Trading Company Limited (Upto June 8, 2008)

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- Each	Rs.10.000 Millions
100000	Equity Shares	Rs.100/- Each	Rs.10.000 Millions
	Total		Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
800000	Equity Shares	Rs.10/- Each	Rs.8.000 Millions

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		8.000	8.000	8.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3164.021	2553.801	2232.416
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3172.021	2561.801	2240.416
LOAN FUNDS
1] Secured Loans		1887.046	3343.603	2256.347
2] Unsecured Loans		1025.576	648.811	814.009
TOTAL BORROWING		2912.622	3992.414	3070.356
DEFERRED TAX LIABILITIES		191.395	145.419	133.608
Deferred payment liabilities		37.423	55.939	76.751
TOTAL		6313.461	6755.573	5521.131
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3691.063	3362.824	2622.863
Capital work-in-progress		501.533	526.296	578.745
INVESTMENT		421.469	420.969	583.025
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1886.964	2072.552	1361.726
	Sundry Debtors	1175.160	1123.321	1075.947
	Cash & Bank Balances	31.661	20.693	68.661
	Other Current Assets	31.781	30.126	14.877
	Loans & Advances	230.180	421.124	407.870
Total Current Assets		3355.746	3667.816	2929.081
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities	1595.378	1170.648	1137.363
	Provisions	60.972	51.684	55.220
Total Current Liabilities		1656.350	1222.332	1192.583
Net Current Assets		1699.396	2445.484	1736.498
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6313.461	6755.573	5521.131

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	7276.726	6021.209	5101.888
		Other Income	185.426	161.080	238.368
		TOTAL (A)	7462.152	6182.289	5340.256
Less	EXPENSES
		Raw material consumed	3207.072	2837.177	1991.325
		Purchases made for re-sale	119.407	60.006	28.228
		Consumption of stores and spare parts	472.489	448.194	367.617
		Salaries, wages and bonus	786.985	687.552	632.022
		Managerial remuneration	11.240	8.180	7.700
		Payment of auditors	4.702	5.220	5.612
		Insurance expenses	4.406	5.236	9.095
		Power and fuel	267.744	264.292	230.539
		Other expenditure	993.646	791.264	757.589
		(Increase) or decrease in finished goods, work-in-progress	23.346	(228.882)	127.852
		TOTAL (B)	5891.037	4878.239	4157.579
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1571.115	1304.050	1182.677
Less	FINANCIAL EXPENSES (D)		187.443	365.344	255.508
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1383.672	938.706	927.169
Less/ Add	DEPRECIATION/ AMORTISATION (F)		382.138	377.053	285.076
	PROFIT BEFORE TAX (E-F) (G)		1001.534	561.653	642.093
Less	TAX (H)		378.646	230.909	222.732
	PROFIT AFTER TAX (G-H) (I)		622.888	330.744	419.361
	Earnings Per Share (Rs.)		1486.21	413.43	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	8.56	5.35	7.85
Net Profit Margin (PBT/Sales)	(%)	13.76	9.33	12.59
Return on Total Assets (PBT/Total Assets}	(%)	14.21	7.99	15.58
Return on Investment (ROI) (PBT/Networth)		0.31	0.22	0.29
Debt Equity Ratio (Total Liability/Networth)		1.44	2.04	1.90
Current Ratio (Current Asset/Current Liability)		2.02	3.00	2.46

LOCAL AGENCY FURTHER INFORMATION

FORM :8

Corporate identity number of the company	L29130WB1946PLC013643
Name of the company	NATIONAL ENGINEERING INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	9/1, R. N. Mukherjee Road, Birla Building, 11^th Floor, Kolkata-700 001, West Bengal, India
This form is for	Creation of charge
Type of charge	Movable Property
Particular of charge holder	State Bank of India, S M E C C C, Sanganeri Gate, Jaipur – 302001, Rajasthan, India
Nature of description of the instrument creating or modifying the charge	Arrangement Letter Loan -cum - Hypothecation Agreement Board Resolution
Date of instrument Creating the charge	29/09/2011
Amount secured by the charge	Rs. 1900.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest to be charged @ 1.25 % above Base Rate (present base rate 10 % ) i.e. presently 11.25 % at monthly rests subject to change from time to time.. Terms of Repayment Repayable in 84 EMI of Rs. 32783/- commencing from October 2011 subject to future increase / decrease in base rate. Margin 43.75% Extent and Operation of the charge The charge operates on first charge basis. Others Car loan sanctioned for purchase of car Audi A4 2.0 TDI
Short particulars of the property charged	Hypothecation on first charge basis car to be purchased out of term loan namely Audi A4 2.0 TDI.

FIXED ASSETS:

· Leasehold land

· Freehold Land

· Building

· Plant and Machinery

· Vehicles

· Furniture and Building

· Live Stock

AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31.03.2011

PARTICULARS	9 MONTHS ENDED	QUARTER ENDED
	31.12.10	31.03.11	31.03.11
	Reviewed	Audited	Audited
1. Sales / Income From Operations (Gross)	7579.110	2931.516	10510.626
Less: Excise Duty	787.612	295.179	10,82.791
Net Sales / Income From Operations	6791.498	2636.337	9427.835
2. Other Operating Income	24.515	23.883	48.398
	6816.013	2660.220	9476.233
3. TOTAL EXPENDITURE
a) (Increase)/Decrease in stock in trade	(234.132)	68.165	(165.967)
b) Consumption of Raw material	3289.329	1195.411	4484.740
c) Purchase of Traded goods	67.782	16.047	83.829
d) Employee cost	660.595	238.394	898.989
e) Other expenditure	1431.318	529.070	1960.388
Total	5214.892	2047.087	7261.979
4. PROFIT FROM OPERATIONS BEFORE OTHER INCOME, DEPRECIATION, INTEREST AND EXCEPTIONAL ITEMS	1601.121	613.133	2214.254
5. DEPRECIATION	360.037	134.397	494.434
6. PROFIT FROM OPERATIONS BEFORE OTHER INCOME, INTEREST AND EXCEPTIONAL	1241.084	478.736	1719.820
7. OTHER INCOME	106.756	56.580	163.336
8. PROFIT BEFORE INTEREST AND EXCEPTIONAL ITEMS ( 6 + 7)	1347.840	535.316	1883.156
9. INTEREST	64.990	28.297	93.287
10. PROFIT AFTER INTEREST BUT BEFORE EXCEPTIONAL ITEMS (8 - 9)	1282.850	507.019	1789.869
11. EXCEPTIONAL ITEM
- BAD DEBTS/ADVANCE WRITTEN OFF (INCLUDING LOAN TO A BODY CORPORATE)	-	-
- PROVISION FOR DOUBTFUL DEBTS	-	50.379	50.379
- LOSS ON SALE OF LONG TERM INVESTMENT	11.057	12.980	24.037
12. PROFIT BEFORE TAX	1271.793	443.660	1715.453
13. PROVISION FOR TAXATION
- CURRENT TAX	(359.630)	(91.134)	(450.764)
- DEFERRED TAX (CHARGE) / CREDIT	(51.237)	(24.485)	(75.722)
- WEALTH TAX		-
- FRINGE BENEFIT TAX	--	-
14. NET PROFIT	860.926	328.041	1188.967
15. PAID UP EQUITY SHARE CAPITAL	8.000	8.000	8.000
( Face value of each share Rs. 10 each )
16. RESERVE EXCLUDING REVALUATION RESERVE	-	-	4334.392
17. BASIC EPS FOR THE PERIOD	107.616	41.005	148.621
18. DILUTED EPS FOR THE PERIOD (NOT ANNUALISED)	107.616	41.005	148.621
19. AGGREGATE OF PUBLIC SHARE HOLDING
Number of shares	NIL	NIL	NIL
% of shareholding	-	-	-
20.PROMOTERS AND PROMOTERS GROUP SHAREHOLDING
a) Pledged / Encumbered
- Number of Shares	NIL	NIL	NIL
- Percentage of Shares ( as a % of the total shareholding of promoter and promoter group )	-	-	-
- Percentage of Shares ( as a % of the total share capital of the company )	-	-	-
a) Non Encumbered
- Number of Shares	800,000	800,000	800,000
- Percentage of Shares (as a % of the total shareholding of promoter and promoter group )	100	100	100
- Percentage of Shares ( as a % of the total share capital of the company)	100	100	100

Note :

· *Include Rs.162.36 net of credit related to previous year

· **Include net of credit of Rs.5.826 millions related to previous year

Particulars	Year Ended
	As on
	31.03.11
	Audited
	(Rs. In Millions)
Shareholders' funds
Share Capital	8.000
Reserves and Surplus	4334.392
Loan funds	2978.258
Deferred Payments Liabilities	20.439
Deferred Tax Liabilities (net)	267.117
Total	7608.206
Net Fixed Assets	5379.488
Investments	409.536
Current Assets, Loans and Advances
Inventories	2269.613
Sundry Debtors	1432.942
Cash and Bank Balances	43.668
Other Current Assets	41.823
Loans and Advances	365.119
Less : Current Liabilities and Provisions
Current Liabilities	2255.970
Provisions	78.013
Total	7608.206

AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31.03.2011

		9 MONTHS ENDED	QUARTER ENDED
	SEGMENTWISE REVENUE,RESULTS	31.12.10	31.03.11	31.03.11
	AND CAPITAL EMPLOYED	Reviewed	Audited	Audited
1	Segment Revenue
	a) Bearing Division	6487.122	2516.051	9003.173
	b) Others *	350.560	172.711	523.271
	Total Net Sales/Income from operations	6837.682	2688.762	9526.444
	Less : Inter segment revenue	-	-	-
	Net sale/income from operations	6837.682	2688.762	9526.444
2	Segment Results
	( from each segment)
	a) Bearing Division	1229.918	426.833	1656.751
	b) Others *	167.178	39.842	207.020
	Segment wise profit before interest and tax	1397.096	466.675	1863.771
	Less : i. Interest	649.9	282.97	932.87
	ii. Other un-allocable expenditure	603.13	-52.82	550.31
	(net off un-allocable income)
	Total Profit before Tax	1271.793	443.660	1715.453
3	Capital Employed
	(Segment Assets-Segment Liabilities)
	a) Bearing Division	6709.900	6685.210	6685.210
	b) Others *	263.445	224.128	224.128
	c) Un-Allocated	723.606	678.430	678.430
	Total	7696.951	7587.768	7587.768

Notes :

* Others includes Technical services, agency services and manufacturing and marketing of rubber products

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. 49.08
UK Pound	1	Rs. 78.65
Euro	1	Rs. 67.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		67

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.