MIRA INFORM REPORT

Report Date :

25.10.2011

IDENTIFICATION DETAILS

Name :	TATA BLUESCOPE STEEL LIMITED (w.e.f.12.06.2006)
Formerly Known As :	BLUESCOPE STEEL BUILDING SOLUTIONS PRIVATE LIMITED
Registered Office :	Metropolitan, Final Plot No 27, Survey No 21, Wakdewadi, Shivaji Nagar, Pune – 411 005, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.02.2005
Com. Reg. No.:	11-20270
Capital Investment/ Paid-up Capital:	Rs.6560.000 Millions
CIN No.: [Company Identification No.]	U45209PN2005PLC020270
TAN No.: [Tax Deduction & Collection Account No.]	PNEB04230C
PAN No.: [Permanent Account No.]	AACCB5628E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacture of Steel Products.
No. of Employees:	Not Divulged by the management

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 20000000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a Joint-Venture between Tata Steel and Bluescope Steel Asia. It is an established company having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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

INFORMATION DECLINED BY

Name :	Mr. Ritwick Ray
Designation :	Finance Controller Corporate

LOCATIONS

Registered Office / Corporate Office :	Metropolitan, Final Plot No 27, Survey No 21, Wakdewadi, Shivaji Nagar, Pune – 411 005, Maharashtra, India
Tel. No.:	91-20-66218000
Fax No.:	91-20-66218001
E-Mail :	bhushan.gokhale@tatabluescopesteel.com bhushan.gokhale@butler.in marketing@tatabluescopesteel.com hr@tatabluescopesteel.com
Website :	http://www.tatabluescopesteel.com
Factory 1:	Plot No.298-299, RIICO Industrial Area, Chopanki, Bhiwadi-301019, Rajasthan, India
Tel. No.:	91-1493-691010
Fax No.:	91-1493-691014
Factory 2:	G10 and G11, South Avenue Road, Sipcot Industrial Park, Irrungattukottai Sriperumbudur, District Kanchipuram-602105, Tamilnadu, India
Tel. No.:	91-44-27107611/12
Factory 3:	Survey No.247 and 250, Hinjewadi, Phase II, Taluka, Mulshi, Pune-411057, Maharashtra, India
Tel. No.:	91-20-66742000
Fax No.:	91-20-66742001
Factory 4:	Coated Steel Project, Tubes Division, Tata Steel, P. O. Burmamines, Jamshedpur-831007, Jharkhand, India
Tel. No.:	91-657-6512045
Fax No.:	91-657-2270751

DIRECTORS

As On 02.07.2010

Name :

Mr. Hemant Madhusudan Nerurkar

Designation :

Director

Address :

36, Straight Mile Road, Northern Town, Jamshedpur, 831001, Jharkhand, India

Date of Birth/Age :

20.10.1948

Date of Appointment :

30.05.2006

DIN No :

00265887

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	U63090WB2002PLC094134	TM INTERNATIONAL LOGISTICS LIMITED	Nominee director	18-01-08	22-01-03	06-02-10	Active	NO
2	U45205OR1998PLC005448	THE DHAMRA PORT COMPANY LIMITED	Director	06-05-05	06-05-05	04-02-08	Active	NO
3	U45209PN2005PLC020270	TATA BLUESCOPE STEEL LIMITED	Director	30-05-06	30-05-06	-	Active	NO
4	U27109WB1997PLC084005	TATA STEEL PROCESSING AND DISTRIBUTION LIMITED	Director	23-10-07	13-07-06	04-02-08	Active	NO
5	U45201OR2006PLC008971	GOPALPUR SPECIAL ECONOMIC ZONE LIMITED	Director	11-10-06	11-10-06	01-03-08	Active	NO
6	U23101WB2005PLC101608	HOOGHLY MET COKE AND POWER COMPANY LIMITED	Director	28-05-08	11-01-08	24-04-09	Amalgamated	NO
7	L27310WB1990PLC050000	TATA METALIKS LIMITED	Director appointed in casual vacancy	11-01-08	11-01-08	29-10-09	Active	NO
8	U24111JH1995PLC009020	JAMIPOL LIMITED	Director appointed in casual vacancy	18-01-08	18-01-08	28-10-09	Active	NO
9	L27100MH1907PLC000260	TATA STEEL LIMITED	Managing director	13-08-10	09-04-09	-	Active	NO
10	U27205MH2009PLC195034	CENTENNIAL STEEL COMPANY LIMITED	Director	19-08-09	19-08-09	-	Amalgamated	NO
11	U26921OR1958PLC000349	TRL KROSAKI REFRACTORIES LIMITED	Additional director	27-08-11	27-08-11	-	Active	NO

Name :

Mr. Anand Sen

Designation :

Director

Address :

Beldhi House, Northern Town, Sakchi Boulevard Road, Jamshedpur – 831001, Jharkhand, India

Date of Birth/Age :

17.09.1959

Date of Appointment :

30.05.2006

Other Directorship :

Tata Ryerson Limited

U27109WB1997PLC084005

DIN No :

00237914

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	L28112WB1920PLC003606	THE TINPLATE COMPANY OF INDIA LIMITED	Director	25-07-02	25-07-02	Active	NO
2	U27109WB1997PLC084005	TATA STEEL PROCESSING AND DISTRIBUTION LIMITED	Nominee director	20-07-05	20-07-05	Active	NO
3	U45209PN2005PLC020270	TATA BLUESCOPE STEEL LIMITED	Director	30-05-06	30-05-06	Active	NO
4	L27105JH1968PLC000818	TAYO ROLLS LIMITED	Additional director	18-01-08	18-01-08	Active	NO

Name :

Mr. Sharbel Raymond Elias

Designation :

Director

Date of Appointment:

24.07.2009

DIN No :

02797935

Name :

Mr. Wayne David Armour

Designation :

Director

Address :

23, Mulberry St, Eltham, Victoria

Date of Birth/Age :

22.02.1963

Date of Appointment :

23.04.2008

DIN No :

02598338

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45209PN2005PLC020270	Tata BlueScope Steel Limited	Alternate director	16-03-11	23-04-08	Active	NO

Name :

Mr. Sanjay Raghubir Dayal

Designation :

Director

Address :

9 Coole Street, Sandringham, VIC, B – 9, Victoria

Date of Birth/Age :

27.09.1957

Date of Appointment :

31.10.2008

DIN No :

02506378

Name :

Mr. Harish Girish Pathak

Designation :

Managing Director

Address :

The Woods Vista, G – 8, Flat – 201, Aundh Chinchwad Road, Wakad Pune, Maharashtra, India

Date of Birth/Age :

30.12.1958

Date of Appointment :

15.07.2008

DIN No :

02426760

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45209PN2005PLC020270	TATA BLUESCOPE STEEL LIMITED	Managing director	01-08-08	15-07-08	Active	NO

KEY EXECUTIVES

Name :	Mr.Bhushan Ghanashyam Gokhale
Designation :	Secretary
Address :	Bombay house, 24 Homy Hodi Street, Fort, Mumbai-400001, Maharashtra, India
Date of Appointment :	14.11.2005
PAN No :	AEYPG9398B
Name :	Mr. Ritwick Ray
Designation :	Finance Controller Corporate

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 02.07.2010

Names of Shareholders	No. of Shares
Tata Steel Limited, India	327999997
Tata Steel Limited jointly with Mr. H.M. Nerukar	1
Tata Steel Limited jointly with Mr. N. K. Mishra	1
Tata Steel Limited jointly with Mr. Anand Sen	1
BlueScope Steel Asia Holdings Private Limited, India	327999997
BlueScope Steel Asia Holdings Private Limited jointly with Mr. Sanjay Dayal	1
BlueScope Steel Asia Holdings Private Limited jointly with Mr. Wayne Armour	1
BlueScope Steel Asia Holdings Pty. Limited jointly with Mr. Simon Linge	1
Total	656000000

AS ON: 02.07.2010

Equity Share Breakup		Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]		50.00
Bodies corporate		50.00
	Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of Steel Products.

Products :

Product Description	ITC Code No
Pre-Engineered Buildings	94060099
Colour Coated Steel	72109090
Zinc and Aluminium Coated Coils	72106900

Brand Names :

· COLORBOND

· ZINCALUME

· LYSAGHT

· BUTLER

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity *	Actual Production
Fabricated Structural Products of Iron and Steel
Pune Plant	MT	70000	69919	39486
Bhiwandi Plant	MT	40000	29450	7432
Chennai Plant	MT	40000	36800	12123

* As certified by the respective Head (Operations) and relied upon by auditors being a technical matter.

Note:

· Pune Plant started production in July 2006

· Bhiwani Plant started production in October 2006

· Chennai Plant started production in January 2007

GENERAL INFORMATION

No. of Employees :

Not Divulged by Management.

Bankers :

• State Bank of India, State Bank Bhavan, Madame Cama Road, Mumbai – 400021, Maharashtra, India
• State Bank of Hyderabad, Overseas Branch, 1204, Ashok Mahal, Tulloch Road, Colaba, Mumbai – 400039, Maharashtra, India

Facilities :

SECURED LOAN	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From SBI Term Loan from Bank is secured by hypothecation of all movable properties other than current assets and immovable properties at Hinjewadi	3608.854	300.000
Total	3608.854	300.000
UNSECURED LOAN
Short Term Loans from Banks	759.271	213.550
Cash Credit facility from Bank	0.310	296.599
Total	759.581	510.149

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	706, B wing, 7^th floor, ICC Trade Tower, International Convention Centre, Senapati Bapat Road, Pune – 411016, Maharashtra, India
Parent Holding Company :	Bluescope Steel Limited Tata Sons Limited
Fellow Subsidiaries :	BIEC International Inc. Bluescope Lysaght (Malaysia) SDN BHD Bluescope Lysaght (Singapore) Private Limited Bluescope Lysaght Thailand Limited Bluescope Steel (Malaysia) Sdn Bhd Bluescope Steel (Thailand) Limited Bluescope Steel Asia Sdn Mhd (Malaysia) Bluescope Steel India Private Limited Bluescope Steel North Asia Limited Bluescope Steel Thailand Limited Bluescope Steel Vietnam Limited Butler Manufacturing Company Butler Shanghai Inc Bluescope Steel (Shanghai) Company Limited Jamshedpur Utilities and Services Company Limited PT. Bluescope Steel Indonesia Tate Steel Processing and Distribution Limited TATA Steel KZN Private Limited TKM Transport Management Service Bluescope Steel (Malaysia) Bluescope Steel (Suzhou) Company Limited Tate Metaliks Limited
Subsidiaries :	Bluescope Steel Lysaght Lanka Private Limited
Related Party Company :	Bluescope Steel Asia Holding Private Limited [JV Partner] Tata Steel Limited (CIN No. L27100MH1907PLC000260) [JV Partner]

CAPITAL STRUCTURE

As On : 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000000	Equity Shares	Rs. 10/- each	Rs.10000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
656000000	Equity Shares	Rs. 10/- each	Rs.6560.000 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		6560.000	6560.000	5220.000
2] Share Application Money		0.000	0.000	600.000
3] Reserves & Surplus		0.000	0.00	0.000
4] (Accumulated Losses)		[1327.972]	[1143.190]	[594.085]
NETWORTH		5232.028	5416.810	5225.915
LOAN FUNDS
1] Secured Loans		3608.854	300.000	0.000
2] Unsecured Loans		759.581	510.149	77.835
TOTAL BORROWING		4368.435	810.149	77.835
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		9600.463	6226.959	5303.750
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2425.075	2585.654	2513.062
Capital work-in-progress		6470.747	2989.462	1658.133
INVESTMENT		90.540	90.540	90.540
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	700.550	522.260	784.818
	Sundry Debtors	739.624	684.564	443.221
	Cash & Bank Balances	134.809	91.863	121.419
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	972.669	652.157	557.812
Total Current Assets		2547.652	1950.844	1907.270
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1482.503	895.701
	Other Current Liabilities	310.499	379.174	772.566
	Provisions	140.549	114.666	92.689
Total Current Liabilities		1933.551	1389.541	865.255
Net Current Assets		614.101	561.303	1042.015
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		9600.463	6226.959	5303.750

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	4206.882	3537.932	2823.104
		Other Income	118.165	51.726	48.196
		TOTAL (A)	4325.047	3589.658	2871.300
Less	EXPENSES
		Manufacturing Expenses	4254.971	3921.293	2888.754
		Provision for Impairment	219.733	3.443	0.000
		Expenditure (Other than Interest) Transferred to Capital Account and Other Account	(24.403)	[38.538]	[56.264]
		TOTAL (B)	4450.301	3886.198	2832.490
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I		(125.254)	(296.540)	38.810
Less	FINANCIAL EXPENSES (D)		52.162	40.032	2.624
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(177.416)	(336.572)	36.186
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	207.137	189.875
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(177.416)	[543.709]	[153.689]
Less	TAX (H)		0.000	[5.395]	[5.034]
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(177.416)	[549.104]	[158.723]
Less	PRIOR PERIOD ADJUSTMENT		7.367	0.000	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1143.190)	(594.085)	(435.362)
	BALANCE CARRIED TO THE B/S		(1327.973)	(1143.189)	(594.085)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	19.875	12.546	100.398
		Commission Earnings	28.346	32.179	52.456
		Others	19.777	0.000	0.000
	TOTAL EARNINGS		67.998	44.725	152.854
	IMPORTS
		Raw Materials	1198.666	1145.347	700.201
		Stores & Spares	32.113	11.443	7.303
		Capital Goods	629.918	126.483	323.099
	TOTAL IMPORTS		1860.697	1283.273	1030.603
	Earnings Per Share (Rs.)		[0.28]	[0.90]	[0.32]

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	[4.10]	[15.30]	[5.53]
Net Profit Margin (PBT/Sales)	(%)	[4.22]	[15.37]	[5.44]
Return on Total Assets (PBT/Total Assets}	(%)	[3.57]	[11.99]	[3.48]
Return on Investment (ROI) (PBT/Networth)		[0.03]	[0.10]	[0.03]
Debt Equity Ratio (Total Liability/Networth)		1.20	0.41	0.18
Current Ratio (Current Asset/Current Liability)		1.32	1.40	2.20

LOCAL AGENCY FURTHER INFORMATION

Note: The registered office of the company has been shifted from 301-302, 3^rd Floor, Mayfair Towers Wakdewadi Shivaji Nagar, Pune, Maharashtra to present address w.e.f. 11.07.2006

Note: The name of the company has been changed from BLUESCOPE STEEL BUILDING SOLUTIONS PRIVATE LIMITED to present w.e.f. 12.06.2006

BACKGROUND

Subject is a joint venture between Tata Steel Limited, India and Bluescope Steel Asia Holding Private Limited, Australia, a wholly owned subsidiary of Bluescope Steel Limited, Australia. The company was originally incorporated as Blusescope Steel Building Solution Private Limited on 9^th February 2005. The Joint Venture Agreement was executed on 23^rd November, 2005, amongst Tata Steel Limited and Blusescope Steel Asia Holding Private Limited and Blusescope Steel Limited and Blusescope Steel Building Solutions Private Limited. As per the Joint Venture Agreement referred above, both Blusescope Steel Limited and Tata Steel Limited shall contribute the total equity contribution in the ration 50:50. This joint venture agreement came into effect from 30^th May 2006.

BSBSPL has been converted into a limited company under the name Blusescope Steel Building Solutions Private Limited and the name of the company has been further changed from BSBSL to Tata Blusescope Steel Limited w.e.f. 12^th June 2006.

The Company’s corporate office is headquatered in Pune and has plants in Hinjewadi Pune, Chennai and Bhiwandi. The Company supplies parts of pre-engineered building / building solution products to its target market, South Asia. A Coted Steel facility is in the process of being built in Jamshedpur with expected completion in the second half of 2010 calender year.

Business Outlook

Demand for Colour Coated Steel products and Zinc/Aluminum coated steel products is expected to grow at over 7-8 % per annum over the next year.

The demand for PEB’s and steel building solutions is expected to exceed 500,000 MT in FY 2010 with the market size for PEB and steel building solutions to be around 550,000 to 560,000 MT. Key drivers are expected construction and infrastructure growth coupled with increasing popularity of PEB systems in Industrial markets.

Much depends on the quickness of economic revival which has been put to H2 of FY10 according to Goldman Sachs. RBI has however revised downwards GDP growth to 5.7% from 6-6.5% which lower than 7% in FY09. IIP growth for Apr-Feb’2008-09 is 2.8% and is expected to be approximately 3.5% for FY10. Prime lending rate remains high. The further rate cuts shows that the central bank is worried that the worst isn't over for India's economy, which has been hit by a slump in demand for its exports and investment. The WPI-based inflation however has eased to 0.18 per cent for the week ended April 4 from 0.26 per cent.

The major concern being the possibility of long cycle of economic and industrial slow down and improvement of world economy from the financial crises and its impact on such economic slow down on Indian economy and demand for the products of the Company. Another area of concern is the activity of competitors in the area of business where the Company operates.

The Directors of the Company are of the view that the Company is well positioned to achieve its business plan. The Company has set an ambitious target of marketing approximately 80,000 MT of Building Solutions, products and distribution and an approximately 68,150 MT of Colour and Zinc/ Aluminum coated steel products as part of the seeding plan.

Form 8:

Corporate identity number of the company	U45209PN2005PLC020270
Name of the company	TATA BLUESCOPE STEEL LIMITED
Address of the registered office or of the principal place of business in India of the company	Metropolitan, Final Plot No 27, Survey No 21, Wakdewadi, Shivaji Nagar, Pune – 411 005, Maharashtra, India
This form is for	Creation of charge
Type of charge	Immovable Property Movable Property
Particular of charge holder	State Bank of Hyderabad, Overseas Branch, 1204, Ashok Mahal, Tulloch Road, Colaba, Mumbai – 400039, Maharashtra, India
Nature of instrument creating charge	Assignment Agreement dated 07.10.2009
Date of instrument Creating the charge	07.10.2009
Amount secured by the charge	Rs. 1000.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest First Interest Period 1% Margin Below SBAR. The Margin For Each Subsequent Interest Period Has To Be Advised By The Lender 60 (Sixty) Days Prior To The Relevant Interest Reset Date. Terms of Repayment (A) The Borrower Will Repay The Loan In 24 (Twenty Four) Consecutive Quarterly Installments; (B) First Installment Of Repayment Must Be Repaid On The Last Day Of The Quarter Commencing From April 2011. Margin The Borrower To Maintain A Debt : Equity Ratio Of 3.43 : 1. Extent and Operation of the charge The first pari passu charge on the whole of the movable properties (other than current assets) relating to project at Jamshedpur and existing manufacturing facilities at a) Biwadi, Rajasthan b) Sriperambathur, Chennai, both present and future including PEB Structure, movable plant and machinery, spares, tools and accessories and other consumable whether installed or not and entire fixed assets at HINJEWADI facility, PUNE.. Others Pursuant to the Assignment Agreement dated 5th October, 2009 Rs. 1000.000 Millions (12.05%) out of Secured Loan of Rs.8350.00 Millions by State Bank of India assigned in favour of State Bank of Mysore , along with Security Interest therein as per the Deed of Assignment dated 5th October, 2009. On 7th October, 2009 there are total Three Assignment Agreement with Indian bank, State Bank of Hyderabad and Oriental Bank of Commerce by which the State Bank of India has assigned Rs.1000.000 Millions each to these three banks
Short particulars of the property charged	The first pari passu charge on the the whole of the movable properties (other than current assets) relating to project at Jamshedpur and existing manufacturing facilities at a) Biwadi, Rajasthan b) Sriperambathur, Chennai, both present and future including PEB Structure, movable plant and machinery, spares, tools and accessories and other consumable, whether installed or not and entire fixed assets at HINJEWADI facility, PUNE.

Fixed Assets:

• Leasehold Land
• Freehold Land
• Building
• Leasehold Improvements
• Plant and Machinery
• Moulds and Dies
• Furniture and Fixtures
• Office Equipments
• Computer Software

WEBSITE DETAILS

PROFILE

Subject is an equal joint venture between Tata Steel and BlueScope Steel in the field of coated steel, steel building solutions and related building products. The Company operates in the South Asian Association for Regional Cooperation (SAARC) region.

Subject has two business divisions, the Buildings division which is further divided into Building Solutions and Building Products and Distribution and the Coated Steel division. The Buildings Solutions business markets pre-engineered buildings (PEB), the Building Products and Distribution business markets roll-formed roof and wall cladding solutions and related building components and the Coated Steel business markets metallic coated and pre-painted steel, for the building and construction industry.

Tata BlueScope Steel’s Buildings Division has three manufacturing facilities located at Pune, Chennai and Bhiwadi and a network of 20 sales offices. The premium brands include the BUTLER™ pre-engineered steel buildings and the LYSAGHT® range of steel building solutions.

Coated Steel markets premium brands including the pre-painted COLORBOND® steel and the metallic coated ZINCALUME® steel. The Coated Steel manufacturing facility at Jamshedpur will be operational from the first quarter of 2010. This facility will have an annual metallic coating capacity of 250,000 MT and paint line capacity of 150,000 MT.

The Company’s core values are Safety, Trust and Human Dignity and its goal is focused on achieving 'Zero Harm' by creating a safe working environment for its workforce.

NEWS REALEASE

Tata BlueScope Steel will inaugurate its second Manufacturing facility at Bhiwadi

Tata BlueScope Steel Limited will inaugurate its second Building Components and Systems manufacturing facility at Bhiwadi, Rajasthan on December 11, 2006. The plant will manufacture Roof and Wall cladding solutions under the brand name LYSAGHT™. With the addition of the second facility in India, Tata BlueScope Steel will strengthened its position in the Northern Region of India.

The Live Web cast of the Inauguration can be viewed at 1:00 pm on the website.

Press Reports

Tata BlueScope Building Solutions partners Arshiya International for India's largest PEB project in the warehouse segment

October 06, 2009

Tata BlueScope Building Solutions, a division of Tata BlueScope Steel, has tied up with Arshiya International to provide the premium Butler building systems for Arshiya’s upcoming warehousing projects in India. Tata BlueScope Building Solutions has started work on this project and is currently executing six Butler buildings at Panvel covering a total roof area of six lakh square feet. Arshiya plans to erect 19 warehouses and chillers units at Panvel and subsequently intends to erect 40 to 50 warehouses at Nagpur, Noida and the UAE in the next three years.

Arshiya International is coming up with warehouses at free trade warehousing zones (FTWZ) in Panvel, Nagpur and Noida in India as well as the UAE. As a part of this project, Tata BlueScope Building Solutions will supply state-of-the-art Butler building systems for the creation of premium warehouses. This project at present involves execution of 6 (six) Butler buildings at free trade warehousing zone (FTWZ) Panvel covering a total roof area of 6 (six) lakh square feet. Tata BlueScope Building Solutions’ scope of work involves design, fabrication and supply of Butler pre-engineered buildings with MR 24 as roofing system. The buildings will have mezzanine floor done with concrete, staircase in RCC as well as peripheral brickwork up to a certain height.

Commenting on the partnership, HG Chandrashekhar, vice president (Tata BlueScope Building Solutions) said, "We are proud that Arshiya International has chosen us as a partner in their endeavour to set up one of the largest PEB projects in the warehousing segment. This landmark project, which has warehouse buildings for high-end applications like storing highly sophisticated electronic goods, offers us an opportunity to showcase the state-of-the-art Butler building systems."

Mr Chandrashekhar further added, "Despite the volatile market conditions, infrastructure sector, especially the warehouse segment holds a tremendous growth potential. Across the country, customers are looking for innovative solutions for quickly erecting functionally superior yet aesthetic buildings that can cater to the challenging warehousing demands. We, at Tata BlueScope Building Solutions, have a single source capability to provide end-to-end innovative PEB solutions and therefore are well-poised to successfully meet the evolving demands of the emerging warehouse markets."

About BlueScope Steel Limited

Blusescope Steel is an international flat steel solutions company, with a manufacturing and marketing footprint spanning Australia, New Zealand, Asia and North America. The Company is the global leader in the provision of high quality metallic coated and painted steel products for the building and construction sector, and also supplies customers in the general manufacturing and automotive sectors.

BlueScope Steel's strategy is to grow the proportion of its revenue and earnings generated from downstream value-added steel products, by capitalising on high growth markets in Asia, providing leading product and service offers, and through successful inter-material competition based on the superior properties of steel products.

BlueScope Steel's strengths include its unrivalled network of manufacturing facilities in Asia, proprietary coating and painting technologies and strong brands, including COLORBOND steel, ZINCALUME steel, the LYSAGHT range of steel building products and the BUTLER brand of pre-engineered steel buildings.

BlueScope Steel operates a 5.1 million tonnes per annum integrated steelworks at Port Kembla, Australia, a 650,000 tonnes per annum integrated steelworks in New Zealand, and has a 50 per cent interest in a 1.8 million tonne steel mini-mill in Delta, Ohio. Metal coating and painting plants are located in Australia, New Zealand, Thailand, Malaysia, Vietnam and Indonesia, China and under construction in India. BlueScope Steel has a network of more than 50 rollforming facilities in 13 countries that is unmatched by any other steel company, and is the market leader in steel pre-engineered buildings in China and North America.

About Tata Steel Limited

Tata Steel Established in 1907, Tata Steel is among the top ten global steel companies with an annual crude steel capacity of over 28 million tonnes per annum (mtpa). It is now one of the world's most geographically-diversified steel producers, with operations in 26 countries and a commercial presence in over 50 countries. . 

The Tata Steel Group, with a turnover of US$ 22.8 billion in FY '10, has over 80,000 employees across five continents and is a Fortune 500 company.

Tata Steel’s vision is to be the world’s steel industry benchmark through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency.

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Tata Steel’s larger production facilities include those in India, the UK, the Netherlands, Thailand, Singapore, China and Australia.  Operating companies within the Group include Tata Steel Limited (India), Tata Steel Europe Limited (formerly Corus), NatSteel, and Tata Steel Thailand (formerly Millennium Steel).

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.49.87
UK Pound	1	Rs.79.73
Euro	1	Rs.69.53

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	--
--CREDIT LINES	1~10	4
--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		28

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.