MIRA INFORM REPORT

Report Date :

04.01.2012

IDENTIFICATION DETAILS

Name :	RHJ EXTRUSION PRIVATE LIMITED
Registered Office :	111/119, Shop No.7, Nathuram Poddar Building, , Thakurdwar Road, Mumbai-400002, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.03.2004
Com. Reg. No.:	11-144879
Capital Investment / Paid-up Capital :	Rs. 7.586 Millions
CIN No.: [Company Identification No.]	U27200MH2004PTC144879
TAN No.: [Tax Deduction & Collection Account No.]	MUMR14154A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Tube, Rod, Strip Section, Tube Rod Strip Section and Copper
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 240000
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 :	111/119, Shop No.7, Nathuram Poddar Building, , Thakurdwar Road, Mumbai-400002, Maharashtra, India
Tel. No.:	91-22-22013540
Fax No.:	91-22-22004579
E-Mail :	rhj@bom3.vsnl.net.in
Factory :	Plot No.1 and 2 and 6 to 9, Bharat Industrial Estate, Bhimpore, Daman-396210, India

DIRECTORS

AS ON 30.06.2011

Name :	Mr. Ramesh Hamerlal Dhakad
Designation :	Director
Address :	8, Beach View, 3^rd Floor, Girgaon Chowpatty, Mumbai-400007, Maharashtra, India
Date of Birth/Age :	01.06.1951
Date of Appointment :	05.03.2004
DIN No.:	01213556

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	U27200MH1988PTC047483	RHJ INDUSTRIES PRIVATE LIMITED	Director	26-05-88	26-05-88	-	Active	NO
2	U27110MH1988PTC047491	DHAKAD METALS PRIVATE LIMITED	Director	27-05-88	27-05-88	-	Active	NO
3	U32201GJ1981PTC004646	RHJ TUBES PRIVATE LIMITED	Director	02-08-99	02-08-99	-	Active	NO
4	U27100MH2003PTC141606	RHJ METALS PRIVATE LIMITED	Director	05-08-03	05-08-03	-	Active	NO
5	U23200MH2004PTC144233	ABC PETROCHEM PRIVATE LIMITED	Director	27-01-04	27-01-04	30-03-09	Active	NO
6	U27200MH2004PTC144879	RHJ EXTRUSION PRIVATE LIMITED	Director	05-03-04	05-03-04	-	Active	NO
7	U27300MH1977NPL019956	BOMBAY NON-FERROUS METALS ASSOCIATION LIMITED	Director	21-10-05	21-10-05	-	Active	NO
8	U45201MH2006PTC164350	SMARTLINK REALTY PRIVATE LIMITED	Director	15-10-07	15-10-07	-	Active	NO
9	U74140MH2003PTC139597	GENUINE COMMERCIAL SERVICES PRIVATE LIMITED	Director	23-02-08	23-02-08	-	Active	NO
10	U45200MH2008PTC180226	SUNRISE SPACES PRIVATE LIMITED	Director	26-03-08	26-03-08	-	Active	NO
11	U45202MH2008PLC180444	SUNRISE HOUSING CONSTRUCTIONS LIMITED	Director	08-12-09	08-12-09	-	Active	NO
12	U45200MH2010PLC205738	ACHARYA TULSI BUILDCON LIMITED	Additional director	21-07-10	21-07-10	-	Active	NO
13	U70102MH2010PLC205558	SHRI SHRAMAN DEVELOPERS LIMITED	Additional director	21-07-10	21-07-10	13-12-10	Active	NO

Name :	Mr. Naresh Ramesh Dhakad
Designation :	Director
Address :	8, Beach View, 3^rd Floor, Girgaon Chowpatty, Mumbai-400007, Maharashtra, India
Date of Birth/Age :	15.01.1977
Date of Appointment :	05.03.2004
DIN No.:	00979060

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	U27110MH1988PTC047491	DHAKAD METALS PRIVATE LIMITED	Director	01-08-97	01-08-97	Active	NO
2	U27200MH1988PTC047483	RHJ INDUSTRIES PRIVATE LIMITED	Director	01-08-97	01-08-97	Active	NO
3	U27100MH2003PTC141606	RHJ METALS PRIVATE LIMITED	Director	05-08-03	05-08-03	Active	NO
4	U27200MH2004PTC144879	RHJ EXTRUSION PRIVATE LIMITED	Director	05-03-04	05-03-04	Active	NO

Name :	Mr. Banshilal Sohanlal Jain
Designation :	Director
Address :	202, Mahavir Building, Tatya Dharpure Road, Mughbhat Lane, Mumbai-400002, Maharashtra, India
Date of Birth/Age :	01.01.1963
Date of Appointment :	01.11.2010
DIN No.:	01008470

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	U32201GJ1981PTC004646	RHJ TUBES PRIVATE LIMITED	Director	02-08-99	02-08-99	Active	NO
2	U27200MH2004PTC144879	RHJ EXTRUSION PRIVATE LIMITED	Director	01-11-10	01-11-10	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.06.2011

Names of Shareholders	No. of Shares
Ramesh Hamerlal Dhakad	263600
Naresh Ramesh Dhakad	255000
Sanjay T. Sanghvi	172000
Jayantilal Vrajpal Tolia	68000
Total	758600

AS ON 30.06.2011

Equity Shares Break Up	Percentage
Bodies corporate	32.00
Directors or relatives of Directors	68.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Tube, Rod, Strip Section, Tube Rod Strip Section and Copper

Products :

ITC CODE	PRODUCTS
74,721.20	Brass Rods
262,030.10	Brass Dross

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Actual Production
Brass Dross	M. Tons	57.658
Brass Rods	M. Tons	1007.343
Brass Ingots	M. Tons	0.513
Copper Billets	M. Tons	10.530
Copper Flat	M. Tons	6.649
Copper Rods	M. Tons	5.356
Copper Tubes	M. Tons	55.084
Iron Scrap	M. Tons	4.330
Brass Tubes	M. Tons	160.594
Brass Section	M. Tons	0.207

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Facilities :

Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Intercorporate	10.450	16.125
From Directors	15.543	0.000
Total	25.993	16.125

Banking Relations :	--
Auditors :
Name :	Kamlesh and Associates Chartered Accountant
Address :	A/2, Poonam, 45/48, Lallubhai Park, Andheri (West), Mumbai-400058, Maharashtra, India
Tel. No.:	91-22-26700537
Mobile No.:	91-9821115725
E-Mail :	cakamleshshah@yahoo.com
Pan No.:	AABPS3435L

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
758600	Equity Shares	Rs.10/- each	Rs. 7.586 Millions

Note:

(Out of the above 494900 equity shares of Rs. 10/- were allotted as fully paid bonus shares by capitalization of free reserve)

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		7.586	7.586	7.586
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		54.361	44.870	33.798
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		61.947	52.456	41.384
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		25.993	16.125	17.774
TOTAL BORROWING		25.993	16.125	17.774
DEFERRED TAX LIABILITIES		0.055	0.030	0.069
TOTAL		87.995	68.611	59.227
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.211	9.793	10.683
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	28.343	21.603	34.802
	Sundry Debtors	124.299	38.871	49.813
	Cash & Bank Balances	6.375	7.930	5.055
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	45.068	23.457	31.966
Total Current Assets		204.085	91.861	121.636
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	107.656	23.528	67.803
	Other Current Liabilities	10.195	3.895	0.124
	Provisions	10.450	5.650	5.225
Total Current Liabilities		128.301	33.073	73.152
Net Current Assets		75.784	58.788	48.484
MISCELLANEOUS EXPENSES		0.000	0.030	0.060
TOTAL		87.995	68.611	59.227

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	441.981	253.798	232.857
		Other Income	0.079	0.053
		TOTAL	442.060	253.851	232.857
Less	EXPENSES
		Office Expenses	426.232	238.141	235.971
		Administrative Expenses
		Advertising Expenses
		TOTAL	426.232	238.141	235.971
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		15.828	15.710	(3.114)
Less/ Add	DEPRECIATION/ AMORTISATION		1.512	1.572	1.648
	PROFIT BEFORE TAX		14.316	14.138	(4.762)
Less	TAX		4.825	3.066	0.209
	PROFIT AFTER TAX		9.491	11.072	(4.971)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		15.706	4.634	9.605
	BALANCE CARRIED TO THE B/S		25.197	15.706	4.634
	Earnings Per Share (Rs.)		13.00	15.00	7.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.15	4.36	(2.13)
Net Profit Margin (PBT/Sales)	(%)	3.24	5.57	NA
Return on Total Assets (PBT/Total Assets}	(%)	6.62	13.91	(3.60)
Return on Investment (ROI) (PBT/Networth)		0.23	0.27	(0.12)
Debt Equity Ratio (Total Liability/Networth)		2.49	0.94	2.20
Current Ratio (Current Asset/Current Liability)		1.59	2.78	1.66

LOCAL AGENCY FURTHER INFORMATION

FORM 8

Corporate identity number of the company	U27200MH2004PTC144879
Name of the company	RHJ EXTRUSION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	111/119 Thakurdwar Road Shop No 7, Nathuram Poddar Building, Mumbai-400002, Maharashtra, India
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India
Nature of instrument creating charge	Letter of Hypothecation.
Date of instrument Creating the charge	03.08.2011
Amount secured by the charge	Rs. 65.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest at the rate as may be communicated by the Bank from time to time. Terms of repayment On Demand. Margin As may be stipulated by the Bank from time to time. Extent and operation of the charge Hypothecation by way of First Charge on Stocks and Book Debts etc. to secure as a for the repayment of Rs.65.000 millions, together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property charged (Including location of the property)	Stock in Trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties. All the debts, that is, all the book debts, out standings, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights which are now due

FIXED ASSETS

· Goodwill

· Factory Building

· Plant and Machinery

· Computer

· Electrical Installation

· Furniture

· Office Equipments

· Air Conditioner

· Scooter

· Motor Car

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. 53.22
UK Pound	1	Rs. 82.86
Euro	1	Rs. 69.12

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	6
--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	NO
--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		46

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.