1. Summary Information

		Country	India
Company Name	SURYA GLOBAL STEEL TUBES LIMITED	Principal Name 1	Mr. Satya Narain Bansal
Status	Moderate	Principal Name 2	Mr. Jai Prakash Agarwal
		Registration #	55-177870
Street Address	302, 3^rd Floor, Padma Tower – 1, Rajendra Place, New Delhi – 110008, India
Established Date	09.05.2008	SIC Code	--
Telephone#	91-11-47108000	Business Style 1	Manufacturer
Fax #	Not Available	Business Style 2	Exporter
Homepage	http://www.suryaglobal.com	Product Name 1	Steel Tubes and Pipes
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.930,550,000/-	Product Name 3	--
Shareholders	Bodies corporate - 99.95% Directors or relatives of Directors - 0.04% Other top fifty shareholders - 0.01%	Banking	State Bank of India
Public Limited Corp.	NO	Business Period	4 years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	B (29)
Related Company
Relation	Country	Company Name	CEO
Holding Company	India	Surya Roshni Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	30.09.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	662,990,000	Current Liabilities	164,102,000
Inventories	733,803,000	Long-term Liabilities	2,556,777,000
Fixed Assets	1,517,883,000	Other Liabilities	9,527,000
Deferred Assets	0,000	Total Liabilities	2,730,406,000
Invest& other Assets	1,047,082,000	Retained Earnings	7,352,000
		Net Worth	1,231,352,000
Total Assets	3,961,758,000	Total Liab. & Equity	3,961,758,000
Total Assets (Previous Year)	1,136,495,000
P/L Statement as of	30.09.2010		(Unit: Indian Rs.)
Sales	973,033,000	Net Profit	7,352,000
Sales(Previous yr)	0,000	Net Profit(Prev.yr)	0,000

MIRA INFORM REPORT

Report Date :

17.01.2012

IDENTIFICATION DETAILS

Name :	SURYA GLOBAL STEEL TUBES LIMITED
Registered Office :	302, 3^rd Floor, Padma Tower – 1, Rajendra Place, New Delhi – 110008
Country :	India
Financials (as on) :	30.09.2010
Date of Incorporation :	09.05.2008
Com. Reg. No.:	55-177870
Capital Investment / Paid-up Capital :	Rs.930.550 Millions
CIN No.: [Company Identification No.]	U28999DL2008PLC177870
TAN No.: [Tax Deduction & Collection Account No.]	DELS36567G
PAN No.: [Permanent Account No.]	AAMCS1258B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Suppliers of Steel Tubes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 4900000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has recently started its commercial activities in the year 2009-10. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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 :	302, 3^rd Floor, Padma Tower – 1, Rajendra Place, New Delhi – 110008, India
Tel. No.:	91-11-47108000
Fax No.:	Not Available
E-Mail :	deepakgoyalcs@gmail.com
Website :	http://www.suryaglobal.com

DIRECTORS

As on 10.01.2011

Name :	Mr. Jai Prakash Agarwal
Designation :	Managing Director
Address :	36/78, West Punkabi Bagh, New Delhi – 110028, India
Date of Birth/Age :	10.07.1951
Date of Appointment :	09.05.2008
DIN No.:	00041119

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	L31501HR1973PLC007543	Surya Roshni Limited	Managing director	08-09-75	08-09-75	-	Active	NO
2	U70101DL1996PTC080815	Adampur Properties Private Limited	Director	18-04-06	18-04-06	15-03-10	Active	NO
3	U45201DL2005PLC141841	Surya Durobuild Limited	Director	18-07-07	18-07-07	11-05-08	Active	NO
4	U27100DL2008PLC176607	Surya Global Steel And Genpower Limited	Director	10-04-08	10-04-08	-	Active	NO
5	U28999DL2008PLC177870	Surya Global Steel Tubes Limited	Managing director	30-03-09	09-05-08	-	Active	NO
6	U45200DL2008PLC183087	Surya Global Infrastructure Limited	Director	09-09-08	09-09-08	16-12-11	Active	NO
7	U26940DL2008PLC183118	Surya Global Cement Limited	Director	11-09-08	11-09-08	-	Active	NO
8	U45200DL2008PLC184368	Surya Roadlink And Infra Limited	Director	21-10-08	21-10-08	-	Active	NO
9	U27101DL2009PLC197083	Surya Vijaynagar Steel And Power Limited	Director	17-12-09	17-12-09	-	Active	NO
10	U27100DL2010PLC198591	Surya Chhattisgarh Power Limited	Director	02-02-10	02-02-10	-	Active	NO
11	U40102DL2010PLC198599	Surya Gujarat Power Limited	Director	02-02-10	02-02-10	31-05-11	Active	NO
12	U27100DL2010PLC202242	Surya Chhattisgarh Steel And Power Limited	Director	03-05-10	03-05-10	-	Active	NO
13	U26990DL2010PLC202244	Surya Vijaynagar Cement Limited	Director	03-05-10	03-05-10	-	Active	NO
14	U31506DL2010PLC204630	Surya Shimoga Lighting Limited	Director	24-06-10	24-06-10	-	Active	NO
15	U27205DL2010PLC205942	Surya Shimoga Steel Pipes Limited	Director	16-07-10	16-07-10	-	Active	NO
16	U51109WB2007PTC114283	Sagnik Vyapaar Private Limited	Director	30-09-11	01-06-11	-	Active	NO
17	U51109WB2007PTC114266	Clitoria Vanijya Private Limited	Director	30-09-11	01-06-11	-	Active	NO
18	U51109WB2007PTC113333	Punarvasu Tie-Up Private Limited	Director	30-09-11	01-06-11	-	Active	NO

Name :	Mr. Satya Narain Bansal
Designation :	Director
Address :	11-382, Sunder Vihar, Paschim Vihar, Delhi – 110087, India
Date of Birth/Age :	10.03.1964
Date of Appointment :	09.05.2008
DIN No.:	00303247

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	U51503DL2000PTC107626	Ashutosh Marketing Private Limited	Director	08-09-00	08-09-00	-	Active	NO
2	U01119DL1997PTC087571	Greenvalley Plantations Private Limited	Director	01-09-05	01-09-05	01-02-08	Active	NO
3	U74899DL1995PTC068746	Sri Krishna Capital Services Private Limited	Director	11-11-06	11-11-06	-	Active	NO
4	U45201DL2005PLC141841	Surya Durobuild Limited	Director	18-07-07	18-07-07	11-05-08	Active	NO
5	U72900DL2006PTC153718	Surya Artec Private Limited	Director	09-10-07	09-10-07	-	Active	NO
6	U27100DL2008PLC176607	Surya Global Steel And Genpower Limited	Director	10-04-08	10-04-08	-	Active	NO
7	U28999DL2008PLC177870	Surya Global Steel Tubes Limited	Director	09-05-08	09-05-08	11-11-11	Active	NO
8	L31501HR1973PLC007543	Surya Roshni Limited	Whole-time director	24-09-08	31-07-08	11-11-11	Active	NO
9	U26940DL2008PLC183118	Surya Global Cement Limited	Director	11-09-08	11-09-08	-	Active	NO
10	U45200DL2008PLC184368	Surya Roadlink And Infra Limited	Director	21-10-08	21-10-08	-	Active	NO
11	U27101DL2009PLC197083	Surya Vijaynagar Steel And Power Limited	Director	17-12-09	17-12-09	-	Active	NO
12	U40102DL2010PLC198599	Surya Gujarat Power Limited	Director	02-02-10	02-02-10	-	Active	NO
13	U27100DL2010PLC198591	Surya Chhattisgarh Power Limited	Director	02-02-10	02-02-10	10-10-11	Active	NO
14	U45201DL1999PTC101295	Rational Developers Private Limited	Additional director	29-03-10	29-03-10	-	Active	NO
15	U27100DL2010PLC202242	Surya Chhattisgarh Steel And Power Limited	Director	03-05-10	03-05-10	-	Active	NO
16	U31506DL2010PLC204630	Surya Shimoga Lighting Limited	Director	24-06-10	24-06-10	-	Active	NO
17	U27205DL2010PLC205942	Surya Shimoga Steel Pipes Limited	Director	16-07-10	16-07-10	-	Active	NO
18	U45200DL2008PLC183087	Surya Global Infrastructure Limited	Director	09-12-11	11-10-11	-	Active	NO

Name :	Mr. Vineet Kumar Garg
Designation :	Director
Address :	Flat No.4, 18/75, West Punjabi Bagh, N. D. 26, New Delhi - 110091, India
Date of Birth/Age :	23.12.1972
Date of Appointment :	29.08.2008
DIN No.:	00296739

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	U25111DL1971PLC005677	Swadeshi Tubes Limited	Director	07-02-03	07-02-03	09-05-08	Active	NO
2	U74899DL1994PTC062470	Swadeshi Mercantile Private Limited	Director	16-08-03	16-08-03	09-05-08	Active	NO
3	U45201DL2005PLC141841	Surya Durobuild Limited	Director	18-10-05	18-10-05	18-07-07	Active	NO
4	U51109UR1984PTC006669	Gangotri Incandescents Private Limited	Director	10-11-06	10-11-06	-	Active	NO
5	U74899DL1995PLC069071	Kanha Capital Services Limited	Additional Director	27-12-07	27-12-07	09-05-08	Active	NO
6	U74899DL1992PTC047240	Bhalotia Steel and Wax Industries Private Limited	Additional Director	28-12-07	28-12-07	09-05-08	Active	NO
7	L31501HR1973PLC007543	Surya Roshni Limited	Whole-Time Director	24-09-08	31-07-08	-	Active	NO
8	U28999DL2008PLC177870	Surya Global Steel Tubes Limited	Director	13-07-09	29-08-08	-	Active	NO
9	U45200DL2008PLC183087	Surya Global Infrastructure Limited	Director	09-09-08	09-09-08	16-12-11	Active	NO
10	U26940DL2008PLC183118	Surya Global Cement Limited	Director	11-09-08	11-09-08	-	Active	NO
11	U27101DL2009PLC197083	Surya Vijaynagar Steel And Power Limited	Director	17-12-09	17-12-09	-	Active	NO
12	U27100DL2010PLC198591	Surya Chhattisgarh Power Limited	Director	02-02-10	02-02-10	-	Active	NO
13	U40102DL2010PLC198599	Surya Gujarat Power Limited	Director	02-02-10	02-02-10	-	Active	NO
14	U26990DL2010PLC202244	Surya Vijaynagar Cement Limited	Director	03-05-10	03-05-10	-	Active	NO

Name :	Mr. Raju Bista
Designation :	Director
Address :	18/75, Road No.75, Punjabi West, Delhi – 110023, India
Date of Birth/Age :	03.01.1986
Date of Appointment :	29.08.2008
DIN No.:	01299297

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	U45201DL2005PLC141841	Surya Durobuild Limited	Director	02-09-08	15-02-07	25-10-08	Active	NO
2	U74899DL1999PLC102480	Surya Soft-Tech Limited	Director	30-03-07	30-03-07	05-09-08	Active	NO
3	U74899DL1994PTC062470	Swadeshi Mercantile Private Limited	Additional director	28-12-07	28-12-07	25-10-08	Active	NO
4	U74899DL1994PTC057515	Jasmine Ispat Private Limited	Director	18-09-08	28-12-07	25-10-08	Active	NO
5	U74899DL1986PTC023320	Dk Rolling Mills Private Limited	Director	17-09-08	29-12-07	25-10-08	Active	NO
6	U74140WB1995PTC070465	Prajin Barter Private Limited	Director	10-07-08	20-05-08	01-11-08	Active	NO
7	U28999DL2008PLC177870	Surya Global Steel Tubes Limited	Director	13-07-09	29-08-08	-	Active	NO
8	U45200DL2008PLC183087	Surya Global Infrastructure Limited	Director	01-11-08	01-11-08	16-12-11	Active	NO
9	L31501HR1973PLC007543	Surya Roshni Limited	Director	24-09-09	18-06-09	-	Active	NO
10	U27101DL2009PLC197083	Surya Vijaynagar Steel And Power Limited	Director	17-12-09	17-12-09	-	Active	NO
11	U27100DL2010PLC198591	Surya Chhattisgarh Power Limited	Director	02-02-10	02-02-10	-	Active	NO
12	U27100DL2010PLC202242	Surya Chhattisgarh Steel And Power Limited	Director	03-05-10	03-05-10	-	Active	NO
13	U26990DL2010PLC202244	Surya Vijaynagar Cement Limited	Director	03-05-10	03-05-10	-	Active	NO
14	U31506DL2010PLC204630	Surya Shimoga Lighting Limited	Director	24-06-10	24-06-10	-	Active	NO
15	U27205DL2010PLC205942	Surya Shimoga Steel Pipes Limited	Director	16-07-10	16-07-10	-	Active	NO
16	U51109WB2007PTC114266	Clitoria Vanijya Private Limited	Director	30-09-11	01-06-11	-	Active	NO
17	U51909WB2010PTC147210	Equal Vinimay Private Limited	Director	20-08-11	20-08-11	-	Active	NO
18	U51909WB2010PTC147209	Brightstar Vintrade Private Limited	Director	20-08-11	20-08-11	-	Active	NO
19	U51109WB2008PTC122046	Seabird Tracom Private Limited	Additional director	20-08-11	20-08-11	-	Active	NO
20	U51909WB2008PTC129362	Netra Agency Private Limited	Director	01-09-11	01-09-11	-	Active	NO

Name :	Mr. Arvind Bansal Kumar
Designation :	Director
Address :	B-172, Gali No.9, Bhajanpura, Delhi – 110053, India
Date of Birth/Age :	10.09.1976
Date of Appointment :	29.08.2008
DIN No.:	00515630

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	U74899DL1999PLC102480	Surya Soft-Tech Limited	Director	28-02-03	28-02-03	04-02-10	Active	NO
2	U74899DL1994PTC058273	Lustre Merchants Private Limited	Director	23-09-04	23-09-04	-	Active	NO
3	U70109DL2006PTC152989	Shivgori Builders Private Limited	Director	15-01-07	15-01-07	28-11-09	Active	NO
4	U45201DL2005PTC138430	Sarvad Builders Private Limited	Director	15-01-07	15-01-07	30-07-08	Active	NO
5	U74899DL1994PTC058252	Viksit Trading & Holding Private Limited	Director	19-09-08	02-01-08	-	Active	NO
6	U28112DL1995PLC068994	Ashiana Manufacturing India Limited	Director	01-09-08	03-01-08	22-05-10	Active	NO
7	U25207HR1972PLC006070	Goel Die Cast Limited	Director	27-09-08	04-01-08	-	Active	NO
8	L31501HR1973PLC007543	Surya Roshni Limited	Whole-time director	24-09-08	31-07-08	-	Active	NO
9	U28999DL2008PLC177870	Surya Global Steel Tubes Limited	Director	13-07-09	29-08-08	-	Active	NO
10	U74899DL1994PLC062152	Surya Financial Services Limited	Director	15-11-08	15-11-08	-	Active	NO
11	U51109WB1995PTC069589	Dicord Commodeal Private Limited	Director	30-09-09	23-03-09	-	Active	NO
12	U27101DL2009PLC197083	Surya Vijaynagar Steel And Power Limited	Director	17-12-09	17-12-09	-	Active	NO
13	U27100DL2010PLC198591	Surya Chhattisgarh Power Limited	Director	02-02-10	02-02-10	-	Active	NO
14	U40102DL2010PLC198599	Surya Gujarat Power Limited	Director	02-02-10	02-02-10	-	Active	NO

Name :	Mr. Krishan Kumar Narula
Designation :	Director
Address :	A-25, Preet Vihar, Delhi – 110092, India
Date of Birth/Age :	01.04.1939
Date of Appointment :	29.08.2008
DIN No.:	00098124

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	L31501HR1973PLC007543	Surya Roshni Limited	Director	29-03-00	29-03-00	-	Active	NO
2	U28999DL2008PLC177870	Surya Global Steel Tubes Limited	Director	13-07-09	29-08-08	-	Active	NO

Name :	Mr. Ravinder Kumar Narang
Designation :	Director
Address :	14/81, West Punjabi Bagh, New Delhi – 110028, India
Date of Birth/Age :	20.01.1939
Date of Appointment :	29.08.2008
DIN No.:	02318041

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	U28999DL2008PLC177870	Surya Global Steel Tubes Limited	Director	13-07-09	29-08-08	-	Active	NO
2	L51909WB1985PLC038845	Bansal Naturevest Limited	Whole-time director	01-08-09	18-05-09	07-06-11	Active	NO
3	L31501HR1973PLC007543	Surya Roshni Limited	Director	24-09-09	18-06-09	-	Active	NO

Name :	Mr. Neeraj Kumar Mayson
Designation :	Director
Address :	1A/8, Lajpat Rai Road, Durgapur, Durgapur – 713204, West Bengal, India
Date of Birth/Age :	20.05.1948
Date of Appointment :	29.08.2008
DIN No.:	02318968

KEY EXECUTIVES

Name :	Mr. Deepak Goyal
Designation :	Secretary
Address :	Flat No.151. DDa Pl\ocket – 1, Sector – 23, Dwarka, New Delhi – 110075, India
Date of Birth/Age :	18.02.1980
Date of Appointment :	18.02.1980
PAN No.:	AJMPG4485G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 10.01.2011

Names of Shareholders	No. of Shares
Jai Prakash Agarwal	25000
Satya Narain Bansal	5000
Mited Roshni Surya	50000000
Arvind Bansal	5000
Anil Kumar Bansal	5000
Pramod Kumar Jain	5000
Dicord Commodeal Private Limited, India	29010000
Sahej Tieup Private Limited, India	14000000
Total	93055000

As on 10.01.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	99.95
Directors or relatives of Directors	0.04
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Suppliers of Steel Tubes.

Products :

Product Description	Item Code No
Steel Tubes and pipes	730410.10

PRODUCTION STATUS

As on 30.09.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
ERW Pipes	MT	84,000	Not Yet Assured	11,855
Spiral Pipes	MT	50,000	Not Yet Assured	5,466

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Bank of Baorda, Community Centre, Club Road, Punjabi Bagh, Delhi – 110026, India
• Punjab National Bank, (Lead Bank), BO : ECE House, 28-A, Kasturba Gandhi Marg, New Delhi – 110001, India
• State Bank of India, Chandigarh, India
• Axis Bank Limited, Punjabi Bagh, New Delhi, India
• IDBI Bank Limited, Indian Red Cross Society Building, 1, Red Cross Road, New Delhi – 110001, India

Facilities :

Secured Loan	As on 30.09.2010 (Rs. in Millions)	As on 30.09.2009 (Rs. in Millions)
Term Loans from Banks	1605.994	277.419
Working Capital Loans from Banks	690.783	0.000
Total	2296.777	277.419

Notes :

1. Term Loan are secured by 1^st pari passu charge on all immovable Assets pf the company 9Present and Future) and guaranteed by Managing Director and Holding Company (Surya Roshni Limited)
2. Working capital loans from banks are secured against hypothecation of present and future stock of raw material, stock in process, finished goods, spares and stores, book debts etc. guaranteed by Managing Director of the company and further secured by way if seconds charge on the company’s immovable assets

Unsecured Loan	As on 30.09.2010 (Rs. in Millions)	As on 30.09.2009 (Rs. in Millions)
Deposits from Companies	260.000	0.000
Total	260.000	0.000

Banking Relations :	--
Auditors :
Name :	Mr. Ashok Sushant Goyal and Company Chartered Accountants
Address :	C-607, Sushant lok, Phase – 1, Gurgoan – 122001, Haryana, India
PAN.:	AABFA7551P
Holding Company :	Surya Roshni Limited CIN : L31501HR1973PLC007543
Associates :	Surya Global Infrastructure Limited
Subsidiaries :	Surya Shimoga Steel Pipes Limited CIN : U27205DL2010PLC205942

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
125000000	Equity Shares	Rs.10/- each	Rs.1250.000 Millions
5000000	Preference Shares	Rs.100/- each	Rs.500.000 Millions
	Total		Rs.1750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
93055000	Equity Shares	Rs.10/- each	Rs.930.550 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		30.09.2010 (12 Months)	30.09.2009 (6 Months)	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		930.550	350.450	216.000
2] Share Application Money		293.450	130.250	0.000
3] Reserves & Surplus		7.352	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1231.352	480.700	216.000
LOAN FUNDS
1] Secured Loans		2296.777	277.419	0.000
2] Unsecured Loans		260.000	0.000	0.000
TOTAL BORROWING		2556.777	277.419	0.000
DEFERRED TAX LIABILITIES		4.707	0.000	0.000
TOTAL		3792.836	758.119	216.000
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1517.883	25.200	7.945
Capital work-in-progress		1046.682	1054.236	121.867
INVESTMENT		0.400	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	733.803	0.841	0.000
	Sundry Debtors	293.008	0.000	0.000
	Cash & Bank Balances	89.696	16.765	73.393
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	280.286	32.789	7.474
Total Current Assets		1396.793	50.395	80.867
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	133.570	372.913	0.597
	Other Current Liabilities	30.532	5.161	0.671
	Provisions	4.820	0.302	0.075
Total Current Liabilities		168.922	378.376	1.343
Net Current Assets		1227.871	(327.981)	79.524
MISCELLANEOUS EXPENSES		0.000	6.664	6.664
TOTAL		3792.836	758.119	216.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.09.2010 (12 Months)
	SALES
		Income	968.406
		Other Income	4.627
		TOTAL (A)	973.033
Less	EXPENSES
		Raw Material Consumed	983.409
		Manufacturing Expenses	27.189
		Employees Remuneration and benefits	28.303
		Selling Expenses	31.594
		Other Expenses	19.131
		(Increase) / Decrease in Stock	(233.605)
		TOTAL (B)	856.021
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I		117.012
Less	FINANCIAL EXPENSES (D)		70.427
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		46.585
Less/ Add	DEPRECIATION/ AMORTISATION (F)		34.526
	PROFIT BEFORE TAX (E-F) (G)		12.059
Less	TAX (I)		4.707
	PROFIT AFTER TAX (G-I) (J)		7.352
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		7.352
	EARNINGS IN FOREIGN CURRENCY
		F.O.B Value of Export	362.274
	TOTAL EARNINGS		362.274
	IMPORTS
		Raw Materials	651.722
		Stores & Spares	2.307
		Capital Goods	749.973
	TOTAL IMPORTS		1404.002
	Earnings Per Share (Rs.)		0.10

KEY RATIOS

PARTICULARS		30.09.2010 (12 Months)	30.09.2009 (6 Months)	31.03.2009
PAT / Total Income	(%)	0.76	NA	NA
Net Profit Margin (PBT/Sales)	(%)	1.12	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.41	NA	NA
Return on Investment (ROI) (PBT/Networth)		0.01	NA	NA
Debt Equity Ratio (Total Liability/Networth)		2.21	1.36	0.01
Current Ratio (Current Asset/Current Liability)		8.27	0.13	60.21

LOCAL AGENCY FURTHER INFORMATION

Operational Review:

The Company has set a blistering pace on all implementation fronts and achieved 100% progress in implementation of its Spiral welded Steel Pipes and ERW Pipe Projects at Anjar, District Kutch in Gujarat at a short span of time. The Company leveraged the benefits of the impeccable project management and execution skills of the Surya Roshni Limited successfully. The plant is equipped with high precision machines, which are run by dedicated skilled workers, with testing lab built in house, has facilitated in constant checking of material at every stage, ensuring the best quality.

The Company has also obtained significant accreditation from American Petroleum Institute (API) During the current year, the two phases of Spiral Mill with capacity of 60,000 MT and 1,40,000 MT respectively and ERW Pipe Project with capacity of 100000 MT p.a, has been completed and commissioned successfully and commercial production has been started.

Contingent Liability:

(Rs. In Millions)

Particulars	30.09.2010	30.09.2009
Other money for which the company is contingently liable i) Letter of Credit ii) Counter Guarantee by the company on Guarantees given by the bank	3.543 92.444	46.546 0.000
Estimated amount of contract remaining to be executed on capital A/c (Net of Advance)	254.974	240.263

Form 8:

Corporate identity number of the company	U28999DL2008PLC177870
Name of the company	SURYA GLOBAL STEEL TUBES LIMITED
Address of the registered office or of the principal place of business in India of the company	302, 3^rd Floor, Padma Tower – 1, Rajendra Place, New Delhi – 110008, India E-Mail : deepakgoyalcs@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10243532
Type of charge	Immovable property
Particular of charge holder	IDBI Bank Limited, Indian Red Cross Society Building, 1, Red Cross Road, New Delhi – 110001, India E-mail : sc.bhatt@idbi.co.in
Nature of instrument creating charge	29-11-2011.No instruments was executed. Mortgage by deposit of title deeds was created by the Company in favour of IDBI Bank Limited as security for due repayment of IDBI Bank Limited for the Rupee Term Loan of Rs.200.000 Millions
Date of instrument Creating the charge	29.11.2011
Amount secured by the charge	Rs.200.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As per Loan Agreement Terms of repayment As per Loan Agreement Margin As per Loan Agreement Extent and operation of the charge As per Loan Agreement
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Survey No 189 measuring 6 acre and 38 guntha situated at village Bhuvad, Taluka Anjar District Kutch. Survey No 188/1 measuring 51 acre and 21 guntha situated at village Bhuvad, Taluka Anjar District Kutch Survey No 190/1 measuring 4 acre and 31 guntha situated at village Bhuvad, Taluka Anjar District Kutch. Survey No 699 measuring 2 acre and 11 guntha situated at village Bhuvad, Taluka Anjar District Kutch. Survey No 190/2 measuring 3 acre and 30 guntha situated at village Bhuvad, Taluka Anjar District Kutch. Survey No 192/1 measuring 7 acre and 5 guntha situated at village Bhuvad, Taluka Anjar District Kutch. Survey No 192/3 measuring 3 acre and 11 guntha situated at village Bhuvad, Taluka Anjar District Kutch. Survey No 696 measuring 4 acre and 34 guntha situated at village Bhuvad, Taluka Anjar District Kutch. Survey No 698 measuring 7 acre and 12 guntha situated at village Bhuvad, Taluka Anjar District Kutch.
Particulars of the present modification	DBI Bank Limited for its Term Loan of Rs.200.000 Millions and all other moneys payable by the Company to IDBI Bank Limited in terms of loan agreement dated 18-09-2010 executed between the Company and IDBI Bank Limited and is now also secured by the charge on the property of the Company.

Fixed Assets:

• Land and Site Development
• Building
• Plant and Machinery

- Spiral

- ERW

· Furniture and Fixtures

· Vehicles

· Office Equipments

· Air conditioner and Coolers

· Computers

· Temporary Erections

· Electrical Equipments and Fittings

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.51.65
UK Pound	1	Rs.79.10
Euro	1	Rs.65.32

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

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.