MIRA INFORM REPORT

Report Date :

03.02.2012

IDENTIFICATION DETAILS

Name :	BRAHAMPURI STEELS LIMITED
Registered Office :	A-301- (D), Road No.15, V. K. I. Area, Jaipur – 302013, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.07.1994
Com. Reg. No.:	17-008613
Capital Investment / Paid-up Capital :	Rs.3.774 Millions
CIN No.: [Company Identification No.]	U27107RJ1994PLC008613
TAN No.: [Tax Deduction & Collection Account No.]	JPRB01701A
PAN No.: [Permanent Account No.]	AAACB7550M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Engineering Equipments.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 98000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be 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/ Unit - I (Re Rolling Facility)	A-301- (D), Road No.15, V. K. I. Area, Jaipur – 302013, Rajasthan, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	brahmpuri@yahoo.com brahampuristeels@yahoo.in brahmpuri@hotmail.com brahmpuri@sancharnet.in brahampuri@gmail.com
Website :	http://www.brahampuri.com
Unit - II (Fabrication and Galvanizing Facility)	172 F , Jhotwara Industrial Area, Jaipur – 302012, Rajasthan, India
Tel No.:	91-141-2341773/ 2460087

DIRECTORS

(AS ON 26.09.2011)

Name :

Mr. Surendra Kumar Gupta

Designation :

Director

Address :

6/380, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Appointment :

29.07.1994

DIN No.:

00327330

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	U27107RJ1994PLC008613	BRAHAMPURI STEELS LIMITED	Director	29/07/1994	29/07/1994	Active	NO
2	U34300RJ1995PLC010428	RAJASTHAN MECHANICAL WORKS LIMITED	Whole-time director	24/11/2009	20/07/1995	Active	NO
3	U51311RJ1980PTC002136	GOMTI STAMPINGS PRIVATE LIMITED	Director	10/9/2011	19/01/2011	Active	NO

Name :

Mr. Mahendra Kumar Gupta

Designation :

Director

Address :

6/380, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Appointment :

29.07.1994

DIN No.:

01570197

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	U51311RJ1980PTC002136	GOMTI STAMPINGS PRIVATE LIMITED	Director	17/12/1980	17/12/1980	Active	NO
2	U27107RJ1994PLC008613	BRAHAMPURI STEELS LIMITED	Director	29/07/1994	29/07/1994	Active	NO
3	U34300RJ1995PLC010428	RAJASTHAN MECHANICAL WORKS LIMITED	Whole-time director	24/11/2009	20/07/1995	Active	NO

Name :

Mr. Hemant Gupta

Designation :

Director

Address :

N-II, 1-2 LIC Flats, Sector 6, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Appointment :

29.07.1994

DIN No.:

01885735

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	U51311RJ1980PTC002136	GOMTI STAMPINGS PRIVATE LIMITED	Director	1/1/1993	1/1/1993	Active	NO
2	U27107RJ1994PLC008613	BRAHAMPURI STEELS LIMITED	Director	29/07/1994	29/07/1994	Active	NO
3	U34300RJ1995PLC010428	RAJASTHAN MECHANICAL WORKS LIMITED	Whole-time director	24/11/2009	20/07/1995	Active	NO

Name :

Mr. Dinesh Kumar Gupta

Designation :

Director

Address :

301, Royal Plaza, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Appointment :

29.07.1994

DIN No.:

00327306

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	U27107RJ1994PLC008613	BRAHAMPURI STEELS LIMITED	Director	29/07/1994	29/07/1994	Active	NO
2	U34300RJ1995PLC010428	RAJASTHAN MECHANICAL WORKS LIMITED	Whole-time director	24/11/2009	20/07/1995	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 26.09.2011)

Names of Shareholders	No. of Shares
Mahendra Kumar Gupta	125210
Surendra Kumar Gupta	97710
Gomti Devi	2010
Rajasthan Mechanical Works Limited, India	600
Jagan Nath Gupta	7920
Hemant Gupta	68610
Surendra Kumar Gupta HUF	100
Kalpana Gupta	2110
Dinesh Kumar Gupta	66010
Mahendra Kumar Gupta HUF	100
Shashi Gupta	10
Manju Gupta	3510
Gomti Stamping Private Limited, India	2800
Lata Gupta	100
Seema Gupta	100
Shankar Lal Kandoi	100
Anuradha Gupta	100
Dinesh Kumar Gupta HUF	100
Hemant Gupta HUF	100
Jagan Nath Gupta HUF	100
Total	377400

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Engineering Equipments.

GENERAL INFORMATION

Suppliers :

· Jagdamba Ispat

· Jai shree Ram Traders

· Shrish Steels Private Limited

· Anil Katiwal and Associates

· Bhawani Steel Services

· Girish Gurwala and Company

· R K Gurwala and Company

· S C Sharma and Associates

· Shiva Enterprises

· Shivam Steel Services

Customers :

· Anirudh Ceramics Industries Private Limited

· Bhupendra Iron Rolling Mills (Private) Limited

· Crompton Greaves Limited

· Excel Associates Private Limited

· Faraday Electricity Private Limited

· Kiran Infra Engineers Limited

· Marudhar Ceramics Private Limited

· Pioneer Formwork Private Limited

· Rajastha Mechanicals Works Limited

· S R Industries

· Shiv Kant and Brothers

· SIEMENS Limited

· Schneider Electric India Limited

· Crompton Greaves Limited

· RRVPNL

· Jaipur/ Jodhpur/ Ajmer  Vidyut Vitran Nigam Limited

· Haryana Vidyut Prasaran Nigam

· HPSEB

· PSEB

· Shree Cement

· MPPKVVCL

No. of Employees :

Not Available

Bankers :

· State Bank of Bikaner and Jaipur

Jhotwara Industrial Area, Jaipur - 302012, Rajasthan, India

· Kotak Mahindra Bank Limited

· HDFC Bank Limited

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
SBBJ C/C A/c (Hypothecation to Stock, Book Debts First Charge on Fixed Assets)	12.461	6.605
SBBJ WCTL	0.000	6.000
SBBJ SLC A/c	6.000	0.000
SBBJ Car Loan A/c (Hypothecation of Car)	0.323	0.407
Tata Capital Limited (Car Loan) (Hypothecation of Car)	0.021	0.207
Total	18.805	13.219
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Hemant Gupta Deposit	3.710	1.116
M K Gupta Deposit	11.009	3.314
D K Gupta Deposit	0.843	3.038
S K Gupta Deposit	2.287	0.973
Kotak Mahindra Bank Limited (Loan A/c)	0.945	2.426
Tata Capital Limited (Loan A/c)	0.906	2.129
HDFC Bank Limited A/c	0.000	0.544
Magma Fincorp Limited	1.665	3.132
Reliance Capital Limited (Loan A/c)	4.552	0.000
Total	25.917	16.672

Banking Relations :	--
Auditors :
Name :	R. K. Gurwala and Company Chartered Accountant
Address :	Aluda House, SMS Highway, Jaipur – 302004, Rajasthan, India
PAN No.:	AAFFR5451H

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Share	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
377400	Equity Share	Rs.10/- each	Rs.3.774 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		3.774	3.738	3.738
2] Share Application Money		0.000	0.401	0.401
3] Reserves & Surplus		20.825	19.898	18.317
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		24.599	24.037	22.456
LOAN FUNDS
1] Secured Loans		18.805	13.219	2.854
2] Unsecured Loans		25.917	16.672	7.212
TOTAL BORROWING		44.722	29.891	10.066
DEFERRED TAX LIABILITIES		1.614	1.598	1.835
TOTAL		70.935	55.526	34.357
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.634	10.229	10.222
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.216	0.216	0.016
DEFERREX TAX ASSETS		0.000	0.000	0.000
Branch/ Division		18.468	10.942	5.502
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.419	17.243	9.026
	Sundry Debtors	24.120	13.833	12.246
	Cash & Bank Balances	3.979	3.727	2.554
	Other Current Assets	3.955	1.857	0.937
	Loans & Advances	0.077	0.086	0.036
Total Current Assets		45.550	36.746	24.799
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2.806	0.070	0.102
	Other Current Liabilities	1.017	1.644	1.597
	Provisions	1.110	0.893	4.483
Total Current Liabilities		4.933	2.607	6.182
Net Current Assets		40.617	34.139	18.617
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		70.935	55.526	34.357

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Turnover (Own Mfg)	283.919	243.532	264.404
		Transfer to Branch (Unit II)	11.278	5.236	3.633
		Other Income	2.119	0.956	0.455
		Accretion of Stock	0.000	4.177	0.000
		TOTAL (A)	297.316	253.901	268.492
Less	EXPENSES
		Deccretion of Stock	1.403	0.000	3.019
		Raw Materials Consumed	245.729	205.391	200.928
		Manufacturing Expenses	11.141	13.797	10.130
		Employees Remuneration	2.877	3.237	2.153
		Selling and Distribution Expenses	0.332	0.565	2.103
		Legal and Professional Charges	0.075	0.198	0.131
		Other Expenses	0.842	1.347	1.252
		Duties and Taxes	26.641	19.335	30.463
		Loss on Sale of Vehicles	0.000	0.006	0.201
		TOTAL (B)	289.042	243.876	250.380
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		8.274	10.025	18.112
Less	FINANCIAL EXPENSES (D)		5.598	6.907	4.191
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.676	3.118	13.921
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.950	0.880	0.811
	PROFIT BEFORE TAX (E-F) (G)		1.726	2.238	13.110
Less	TAX (H)		0.686	0.220	4.151
	PROFIT AFTER TAX (G-H) (I)		1.040	2.018	8.959
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		18.654	17.072	8.551
Less	APPROPRIATIONS
		Transfer to General Reserve	0.075	0.000	0.000
		Proposed Dividend	0.377	0.374	0.374
		Provision for Dividend Distribution Tax	0.063	0.062	0.064
	BALANCE CARRIED TO THE B/S		19.179	18.654	17.072
	Earnings Per Share (Rs.)		2.76	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.35	0.79	3.34
Net Profit Margin (PBT/Sales)	(%)	0.61	0.92	4.96
Return on Total Assets (PBT/Total Assets}	(%)	3.02	4.76	37.43
Return on Investment (ROI) (PBT/Networth)		0.07	0.09	0.58
Debt Equity Ratio (Total Liability/Networth)		2.02	1.35	0.72
Current Ratio (Current Asset/Current Liability)		9.23	14.10	4.01

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The Registered Office of the company is shifted from A-188(B) Road No. 6-D V.K.I. Area, Jaipur – 302013, Rajasthan, India, to the present address w.e.f. 14.10.2011

FIXED ASSETS:

· Land

· Building Factory

· Building Office

· Car

· Computer

· Plant and Machinery

· Furniture

· Foundation

· Electric Installation

· Furnace

· Tools

· Office Equipment

· Motor Cycle

WEBSITE DETAILS:

COMPANY PROFILE

Subjects are one of the prominent manufacturers of Engineering Equipments. The comprehensive range includes Electrical Substation Structures or Towers, Earthing Material (GI Flats / Rounds / Electrodes), Cable Trays Foundation Bolts, Sheet Metal Boxes, Towers and Hot Dip Galvanized Structures. They are reputed service provider of Fabrication and Galvanizing .

These products and services are widely appreciated among our clients for long functional life, robust construction, easy installation, and low maintenance. Owing to distinctive features, these Engineering Equipments are widely demanded for various industrial purposes.

They ensure their clients with world-class Engineering Products due to well established infrastructure. They have indepth experience and profound knowledge of respective domain. The organization is backed by team of efficient professionals that is perfect enough for designing substation structures. They have diligently performed fabrication of substation structure elements by utilizing complex full or partial penetration welding process. Having objective of designing, manufacturing quality products, they ensure their clients with reliable business dealings.

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.49.13
UK Pound	1	Rs.77.85
Euro	1	Rs.64.75

SCORE & RATING EXPLANATIONS

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

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	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.