MIRA INFORM REPORT

Report Date :

05.10.2011

IDENTIFICATION DETAILS

Name :	JINDAL PIPES LIMITED
Registered Office :	22^nd Mile Delhi- Hapur Road, PO Jindal Nagar, Ghaziabad-201302, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	07.05.1970
Com. Reg. No.:	20-020637
Capital Investment / Paid-up Capital :	Rs. 187.452 Millions
CIN No.: [Company Identification No.]	U27101UP1970PLC020637
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Steel Pipes and Tubes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 10700000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company having fine track. Financial position of the company appears to be sound. Directors are reported as experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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 :	22^nd Mile Delhi- Hapur Road, PO Jindal Nagar, Ghaziabad-201302, Uttar Pradesh, India
Tel. No.:	91-120-2677601/ 605
Fax No.:	91-120-2677703
E-Mail :	contct@jindalpipe.com admnjngr@jindalpipe.com
Website :	http://www.jindal.com
Head Office :	15/1, ASaf Ali Road, New Delhi, India
Corporate Centre :	Plot No. 30, Institutional Sector-44, Gurgaon-122002, Haryana, India
Tel. No.:	91-124-2574325/ 26/ 4624000
Fax No.:	91-124-2574327
E-Mail :	contact@jindalpipe.com rprasad@jindalpiepe.com
Factory 2 :	Located at: Delhi Road, Hissar-125005, India
Branches :	Located at: · Mumbai · Chennai · Kolkata · Bellary, Karnataka · Hyderabad

DIRECTORS

(AS ON 25.09.2010 )

Name :

Mr. Dharam Pal Jindal

Designation :

Chairman and Managing Director

Address :

B-57, Greater Kailash Part-I, New Delhi-110048, India

Date of Birth/Age :

15.02.1950

Date of Appointment :

01.09.1995

DIN No.:

00405579

Other Directorship:

.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	L27201HR1983PLC036106	Jindal Drilling And Industries Limited	Director	17/10/1983	17/10/1983	-	Active	NO
2	L99999MH1988PLC080545	Maharashtra Seamless Limited(Transferred From Delhi To Mah	Director	10/05/1988	10/05/1988	-	Active	NO
3	U29120DL1970PLC005281	Jindal Pipes Limited	Director	01/09/1995	01/09/1995	-	Not Available for eFiling	NO
4	U27101UP1970PLC020637	Jindal Pipes Limited	Director	01/09/1995	01/09/1995	-	Active	NO
5	U08022KA2002NPL030879	Pragun Jindal Educational Organisation	Director	28/05/2004	28/05/2004	25/11/2008	Active	NO
6	U27203KA1970PLC002806	Jindal Aluminium Limited.	Director	16/08/2005	16/08/2005	06/10/2009	Active	NO
7	U65993WB1994PLC152481	Jindal Global Finance And Investment Limited	Director	30/08/2008	23/05/2008	-	Active	NO
8	U14200KA2008PLC045891	Dakshin Mines And Minerals Limited	Director	29/09/2009	07/08/2008	17/08/2010	Active	NO
9	U51109WB1994PLC065299	Crishpark Vincom Limited	Director	24/09/2009	25/11/2008	-	Active	NO
10	U74999WB1995PTC154565	Neptune Buildtech Private Limited	Director	28/09/2010	09/06/2010	30/12/2010	Active	NO

Name :

Mr. Raghav Jindal

Designation :

Managing Director

Address :

B-57, Greater Kailash Part-I, New Delhi-110048, India

Date of Birth/Age :

11.01.1980

Date of Appointment :

01.02.2005

DIN No.:

00405984

Other Directorship:

.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	L27201HR1983PLC036106	Jindal Drilling And Industries Limited	Managing director	02/02/2010	19/05/1998	-	Active	NO
2	U51109WB1994PLC064822	Sparlerk Dealcomm Limited	Director	31/03/2009	01/01/2003	-	Active	NO
3	U29120DL1970PLC005281	Jindal Pipes Limited	Managing director	01/02/2005	01/02/2005	-	Not Available for eFiling	NO
4	U27101UP1970PLC020637	Jindal Pipes Limited	Managing director	01/02/2010	01/02/2005	-	Active	NO
5	U74991DL2006PLC148826	Jco Gas Pipe Limited	Director	16/05/2006	16/05/2006	-	Active	NO
6	U67120MH1983PLC031110	Brahma Dev Holding And Trading Limited	Director	29/09/2009	12/03/2009	-	Active	NO
7	U14200KA2008PLC045891	Dakshin Mines And Minerals Limited	Director	29/09/2009	31/03/2009	17/08/2010	Active	NO
8	U10100DL2009PLC191466	Gondkhari Coal Mining Limited	Director	22/06/2009	22/06/2009	-	Active	NO
9	U11101DL2009PLC193022	Jindal Hydrocarbons Limited	Director	29/09/2010	11/01/2010	-	Active	NO
10	U11100HR2010PLC039993	Jindal Explodrill Limited	Director	27/09/2010	10/05/2010	-	Active	NO
11	U72200WB1996PTC153567	Sigma infrastructure private limited.	Director	28/09/2010	09/06/2010	09/03/2011	Active	NO
12	U28999DL1971PLC005782	Steel And Metal Tubes (India) Limited	Additional director	25/06/2011	25/06/2011	-	Active	NO

Name :

Mr. Hemant Kumar Khanna

Designation :

Whole Time Director

Address :

A-90, Preet Vihar, Delhi-110092, India

Date of Birth/Age :

25.09.1951

Date of Appointment :

01.01.2009

DIN No.:

00405794

Other Directorship:

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	L99999MH1988PLC080545	Maharashtra Seamless Limited(Transferred From Delhi To Mah	Director	22/10/2003	22/10/2003	25/02/2009	Active	NO
2	U27100MH2004PTC148789	Hydril Jindal International Private Limited	Director	23/09/2004	23/09/2004	-	Active	NO
3	U67120MH1983PLC031110	Brahma Dev Holding And Trading Limited	Director	04/07/2005	04/07/2005	09/06/2008	Active	NO
4	L27209HR1998PLC036089	Haryana Capfin Limited.	Director	15/12/2006	12/09/2006	24/11/2008	Active	NO
5	L27201HR1983PLC036106	Jindal Drilling And Industries Limited	Director	30/11/2006	30/11/2006	25/02/2009	Active	NO
6	U51311DL2002PLC114758	Jaguar International Limited	Director	29/09/2007	27/06/2007	15/06/2010	Active	NO
7	U65993WB1994PLC152481	Jindal Global Finance And Investment Limited	Director	25/09/2009	01/12/2008	-	Active	NO
8	U27101UP1970PLC020637	Jindal Pipes Limited	Whole-time director	01/01/2011	01/01/2009	-	Active	NO
9	U28999DL1971PLC005782	Steel And Metal Tubes (India) Limited	Director	30/09/2009	01/04/2009	-	Active	NO
10	U11101DL2009PLC193022	Jindal Hydrocarbons Limited	Director	29/09/2010	11/01/2010	13/12/2010	Active	NO
11	U11102DL1997PTC086417	Newfind Oil And Gas Private Limited	Additional director	04/03/2010	04/03/2010	-	Active	YES
12	U11100HR2010PLC039993	Jindal Explodrill Limited	Director	27/09/2010	05/03/2010	-	Active	NO
13	U52300DL2011PTC212318	KG Merchandisers Private Limited	Director	07/01/2011	07/01/2011	15/02/2011	Active	NO
14	U27109HR2003PTC035091	Vibhor Steel Tubes Private Limited	Director	24/03/2011	24/03/2011	-	Active	NO

Name :

Mr. Suresh Baid

Designation :

Director

Address :

91, Sainik Vihar, Pitampura, New Delhi, India

Date of Birth/Age :

11.09.1954

Date of Appointment :

01.01.2009

DIN No.:

00030585

Other Directorship:

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	U33205WB1984PLC037929	Neelanchal Udyog Limited	Director	22/10/1984	22/10/1984	-	Active	NO
2	U51909DL1991PLC046869	Jaguar Overseas Limited	Director	01/09/1994	01/09/1994	12/11/2009	Active	NO
3	U74899DL1974PLC007178	Sureka Coated Tubes And Sheets Limited	Director	16/08/2002	16/08/2002	-	Active	NO
4	U51909WB1950PLC019254	The Waxpol Industries Limited	Whole-time director	01/07/2007	02/06/2006	-	Active	NO
5	L27105HR1979PLC009913	Jindal Steel And Power Limited	Additional director	30/10/2006	30/10/2006	28/09/2007	Active	NO
6	L40200WB1995PLC068251	Eastern Gases Limited	Director	31/01/2008	31/01/2008	-	Active	NO
7	U74140DL2001PTC112464	V2 Insurance Professionals Private Limited	Additional director	26/02/2008	26/02/2008	-	Active	NO
8	U55101WB2008PLC129604	Waxpol Hotels & Resorts Limited	Director	24/09/2008	24/09/2008	-	Active	NO
9	U27101UP1970PLC020637	Jindal Pipes Limited	Director	25/09/2009	01/01/2009	-	Active	NO
10	U74991DL2006PLC148826	Jco Gas Pipe Limited	Additional director	27/03/2009	27/03/2009	30/09/2009	Active	NO
11	U28999DL1971PLC005782	Steel And Metal Tubes (India) Limited	Director	30/09/2009	01/04/2009	-	Active	NO
12	U67190DL2010PTC204955	Parity Finsolve Private Limited	Additional director	01/09/2010	01/09/2010	-	Active	NO
13	U01111DL2010PTC210360	Blueberry Farms Private Limited	Director	12/11/2010	12/11/2010	-	Active	NO
14	U27109HR2003PTC035091	Vibhor Steel Tubes Private Limited	Director	24/03/2011	24/03/2011	-	Active	NO
15	U70109DL2011PTC221140	Baid Buildcon Private Limited	Director	20/06/2011	20/06/2011	-	Active	NO

Name :

Mr. Nandanandan Mishra

Designation :

Director

Address :

Flat D-053, Belvedere Park DLF Phase III, Gurgaon-122002, Haryana, India

Date of Birth/Age :

20.10.1942

Date of Appointment :

01.01.2009

Date of Ceasing:

21.03.2011

DIN No.:

00031342

Other Directorship:

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	L65993WB1970PLC027781	United Credit Limited	Director	25/01/2003	25/01/2003	-	Active	NO
2	L21019WB1981PLC034161	Emami Paper Mills Limited	Director	22/03/2006	22/03/2006	-	Active	NO
3	U74899DL1998PLC093329	Medirad Tech India Limited	Director	23/06/2007	23/06/2007	-	Active	NO
4	L17309WB1995PLC073053	Lux Industries Limited	Director	25/09/2007	31/07/2007	-	Active	NO
5	L28110WB2001PLC093945	Adhunik Metaliks Limited	Director	11/09/2009	27/10/2008	-	Active	NO
6	U27101UP1970PLC020637	Jindal Pipes Limited	Director	25/09/2009	01/01/2009	21/03/2011	Active	NO

Name :

Mr. Saket Jindal

Designation :

Director

Address :

B-57, Greater Kailash Part-I, New Delhi-110048, India

Date of Birth/Age :

09.08.1974

Date of Appointment :

25.03.2009

DIN No.:

00405736

Other Directorship:

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	L99999MH1988PLC080545	Maharashtra Seamless Limited(Transferred From Delhi To Mah	Managing director	01/09/2001	01/09/2001	-	Active	NO
2	U27100MH2004PTC148789	Hydril Jindal International Private Limited	Director	23/09/2004	23/09/2004	-	Active	NO
3	L27209HR1998PLC036089	Haryana capfin limited.	Director	15/12/2006	12/09/2006	-	Active	NO
4	U27101UP1970PLC020637	Jindal Pipes Limited	Director	25/09/2009	20/10/2008	-	Active	NO
5	U51909WB1990PTC152482	Odd and even trades and finance Private Limited.	Director	25/09/2009	12/03/2009	-	Active	NO
6	U74900DL2010PTC197862	Solar Renewable Urja Private Limited	Director	09/04/2010	09/04/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Anand Garg
Designation :	Secretary
Address :	H. No. 1331, First Floor, Sector-45, Gurgaon-122001, Haryana, India
Date of Birth/Age :	26.10.1970
Date of Appointment :	20.09.2007
PAN No.:	AGFPG1472R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 25.09.2010)

Names of Shareholders	No. of Shares
Dharam Pal Jindal (HUF)	1290000
Dharam Pal Jindal	58800
Saket Jindal	1860000
Raghav Jindal	1906820
Savita Jindal	1062000
Crispark Vincom Limited, West Bengal, India	1560000
Sudha Apparels Limited, West Bengal, India	3741740
Dytop Commodeal Limited, West Bengal, India	3738200
Jindal Global Financa and Inv. Limited, West Bengal, Indi	3527640
Total	18745200

Equity Share Breakup (Percentage of Total Equity)

(AS ON 30.09.2010 )

Category	Percentage
Bodies corporate	67.04
Directors or relatives of directors	32.96
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Steel Pipes and Tubes.

Products :

Product Description	ITC Code
ERW Pipes and Tubes	7305.11

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Installed Capacity (Annual)	Actual Production
Steel Pipes and Tubes Including Sockets	MT	250,000	154,595

GENERAL INFORMATION

Customers :

· Oil India Limited

· Bharat Petroleum Corporation Limited

· Gas Authority of India Limited

· HPCL

· Reliance Industries Limited

· Larsen and Toubro

· Consolidated Construction Consortium Limited

· Reliance

No. of Employees :

Not Available

Bankers :

· State Bank of Bikaner and Jaipur, G-72, Cannaught Circus, New Delhi-110001, India

· State Bank of Patiala

· Standard Chartered Bank

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Working Capital from Banks (The borrowings for working capital are secured by hypothecation of inventories, book debts and all other current assets other than those socifically executed)	100.673	72.270
Vehicle Loans (secured against hypothecation of vehicles)	7.736	9.375
Total	108.409	81.645
Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Loan from Bodies Corporate	0.000	55.074
Public Deposits	38.400	8.055
Trade Deposits	0.150	2.310
Total	38.550	65.439

Banking Relations :	--
Auditors :
Name :	Kanodia Sanyal and Associates Chartered Accountant
Address :	1520, Ansal Tower, 38, Nehru Place, New Delhi-110019, India
PAN No.:	AAAFK8020A
Associates/Subsidiaries :	Jindal Hydrocarbon Limited CIN No.: U11101DL2009PLC193022

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Share	Rs. 10/- each	Rs. 300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18745200	Equity Share	Rs. 10/- each	Rs. 187.452 Millions

Of the above shares:

a) 125285 fully paid up Equity Shares of Rs. 100/- each (sub divided into Equity shares of Rs. 10/- each in 1995-96) were allotted pursuant to scheme of amalgamation in earlier years for consideration other than cash.

b) 15621000 fully paid up equity share of Rs. 10/- each allotted as bonus shares by capitalization of General Reserve and Share premium.

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		187.452	187.452	187.452
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2501.176	2295.266	2259.129
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2688.628	2482.718	2446.581
LOAN FUNDS
1] Secured Loans		108.409	81.645	131.409
2] Unsecured Loans		38.550	65.439	370.948
TOTAL BORROWING		146.959	147.084	502.357
DEFERRED TAX LIABILITIES		47.194	47.357	40.351
TOTAL		2882.781	2677.159	2989.289
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1367.592	1401.027	1404.929
Capital work-in-progress		54.380	5.572	78.722
INVESTMENT		276.327	100.00	5.550
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	964.765	869.266	1368.932
	Sundry Debtors	466.853	677.868	544.408
	Cash & Bank Balances	60.268	6.907	49.077
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	683.474	563.879	615.348
Total Current Assets		2175.360	2117.920	2577.765
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	262.438	306.829	89.579
	Other Current Liabilities	308.081	364.807	656.138
	Provisions	420.359	275.724	331.960
Total Current Liabilities		990.878	947.360	1077.677
Net Current Assets		1184.482	1170.560	1500.088
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2082.781	2677.159	2989.289

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Income from Operation	6198.208	6349.614	5843.923
		Other Income	79.949	70.025	181.841
		TOTAL (A)	6278.157	6419.639	6025.764
Less	EXPENSES
		Material and Manufacturing Expenses	5586.231	5564.453	5134.837
		Employees Remuneration and Benefits	109.159	103.764	87.153
		Administrative Expenses	52.436	59.837	64.617
		Selling and Distributing Expenses	219.235	253.905	163.163
		Increase/Decrese in Stock	[135.470]	223.322	109.361
		TOTAL (B)	5831.591	6205.281	5559.131
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		446.566	214.358	466.633
Less	FINANCIAL EXPENSES (D)		12.670	41.897	97.290
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		433.896	172.461	369.343
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17.797	10.641	19.900
	PROFIT BEFORE TAX (E-F) (G)		416.099	161.820	349.443
Less	TAX (I)		144.853	61.403	140.558
	PROFIT AFTER TAX (G-I) (J)		271.246	100.417	208.885
Add	Income Tax Adjustment earlier years		0.272	1.402	0.000
	Profit After Tax and Adjustment		271.518	101.819	208.885
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		41.408	11.520	26.496
Less	APPROPRIATIONS
		Transfer to General Reserve	200.000	50.000	180.000
		Proposed Dividend	18.745	18.745	37.490
		Tax on Proposed Dividend	3.113	3.186	6.371
	BALANCE CARRIED TO THE B/S		91.068	41.408	11.520
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	25.162	15.705	0.000
	TOTAL EARNINGS		25.162	15.705	0.000
	IMPORTS
		Stores & Spares	1.381	2.792	4.834
	TOTAL IMPORTS		1.381	2.792	4.834
	Basic/ Diluted Earnings Per Share (Rs.)		14.48	5.43	11.14

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	4.32	1.56	3.47
Net Profit Margin (PBT/Sales)	(%)	6.63	2.55	5.98
Return on Total Assets (PBT/Total Assets}	(%)	11.74	4.60	8.77
Return on Investment (ROI) (PBT/Networth)		0.15	0.07	0.14
Debt Equity Ratio (Total Liability/Networth)		0.42	0.44	0.65
Current Ratio (Current Asset/Current Liability)		2.20	2.24	2.39

LOCAL AGENCY FURTHER INFORMATION

Operations:

The Gross turnover of the company during the year was Rs. 6778.600 Millions against Rs. 7166.500 Millions in the previous year. Profit before tax for the year was Rs. 416.100 Millions as against Rs. 161.800 Millions in the previous year and profit after tax and adjustment was Rs. 271.500 Millions as against Rs. 101.800 Millions in the previous year.

Bankers Charges Report as per Registry

Corporate identity number of the company	U27101UP1970PLC020637
Name of the company	JINDAL PIPES LIMITED
Address of the registered office or of the principal place of business in India of the company	22^nd Mile Delhi- Hapur Road, PO Jindal Nagar, Ghaziabad-201302, Uttar Pradesh, India
This form is for	Modification of Charge
Charge identification (ID) number of the charge to be modified	80053713
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of Bikaner and Jaipur, G-72, Cannaught Circus, New Delhi-110001, India Email: sbbj10016@sbbj.co.in
Nature of instrument creating charge	Joint Deed of hypothecation dated 21.05.2010
Date of instrument Creating the charge	21.05.2010
Amount secured by the charge	Rs. 750.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As mentioned in the working capital consortium agreement dated 21.05.2010 Terms of Repayment On Demand Margin Nil Extent and Operation of the charge Working Capital Limit of Rs. 750.000 Millions (SBBJ- Rs. 307.500 Millions, SBOP- Rs. 300.000 Millions, Standard Chartered Bank- Rs. 142.500 Millions) together with interest, liquidated damages, compound interest, commitments charges, upfront fee, premium on prepayment or redemption costs charges, expenses and other monies payable is secured by charge on movable properties of the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	The entire current assets of the borrower both present and future including stocks of raw material, stock in process semi finished and finished goods, stores and spares not relating to P and M.
Date of instrument modifying the charge	08.06.2009
Particulars of the present modification	The Present modification relates to enhancement of working capital facilities of Rs. 528.500 Millions to Rs. 750.000 Millions (SBBJ – Rs. 307.500 Millions, SBOP- Rs. 300.000 Millions, Standard Chartered Bank- Rs. 142.500 Millions )

Fixed Assets:

· Land Freehold

· Building

· Shed and Building

· Trade Mark

· Plant and Machinery

· Furniture and Fixture

· Vehicles

· Office Equipments

· Computer

AS PER WEBSITE:

Profile:

Subject was incorporated in 1970 with a production capacity of 3,000 TPA for manufacturing of Steel Pipes and Tubes. Since then, the Company has brought phenomenal development in Pipe Manufacturing Process through many innovative measures. Today, it has an annual turn over of Approx. Rs.7000.000 Millions. Induction of sophisticated state-of-the-art technical know-how and highly motivated and skilled workforce have made possible for the company to augment its production capacity to 2,50,000 TPA.

It is now synonymous with India's one of the best and largest manufacturer of ERW, Black and Galvanized Steel Pipes and Tubes in different thickness from 2.00 mm to 10.00 mm having an Outer Diameter (OD) ranging from 1/2" to 14" NB conforming to various National and International Standards.

Recently the company has started manufacturing of RHS and SHS Pipes of various sizes which are used for various applications i.e. Architectural and Industrial.

The company received 'Regional Special Shield' for export performance for the year 1977-78 and from 1984 to 1988. It was also awarded the 'Certificate for Export Excellence 1990-91' by the EEPC.

True to D.P. Jindal Group's way of life, quality is at the helm of affairs as a perpetual phenomenon. It is the constant endeavor to produce pipes of highest quality and sustainability. To achieve this, they stick to strict quality standards and in-house evaluations and they continuously educate and train the workers.

the plant have been constantly executing need based and demanding orders for Pipes to meet the requirements of sectors like Agriculture, Oil, Public Health, Housing, Irrigation, Engineering etc.

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.49.22
UK Pound	1	Rs.76.06
Euro	1	Rs.65.06

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		54

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.