1. Summary Information

		Country	India
Company Name	MAHINDRA INTERTRADE LIMITED	Principal Name 1	Mr. Rajan Wadhera
Status	Good	Principal Name 2	Mr. Bharat Doshi
		Registration #	11-020222
Street Address	Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra, India
Established Date	20.03.1978	SIC Code	--
Telephone#	91-22-24935203	Business Style 1	Traders
Fax #	91-22-24951236	Business Style 2	--
Homepage	http://www.mahindraintertrade.com	Product Name 1	Electrical Steel Sheets
# of employees	110 (Approximately)	Product Name 2	Flat Rolled Products (Cold Rolled)
Paid up capital	Rs.166,000,000/-	Product Name 3	Steel Scrap
Shareholders	Bodies corporate - 100.00%	Banking	State Bank of India
Public Limited Corp.	NO	Business Period	34 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	A (66)
Related Company
Relation	Country	Company Name	CEO
Holding Company	India	Mahindra and Mahindra Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,781,177,000	Current Liabilities	2,069,872,000
Inventories	1,499,650,000	Long-term Liabilities	275,000
Fixed Assets	609,814,000	Other Liabilities	222,651,000
Deferred Assets	0,000	Total Liabilities	2,292,798,000
Invest& other Assets	507,566,000	Retained Earnings	1,939,409,000
		Net Worth	2,105,409,000
Total Assets	4,398,207,000	Total Liab. & Equity	4,398,207,000
Total Assets (Previous Year)	4,161,234,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	10,788,184,000	Net Profit	556,262,000
Sales(Previous yr)	8,763,284,000	Net Profit(Prev.yr)	510,659,000

MIRA INFORM REPORT

Report Date :

20.06.2012

IDENTIFICATION DETAILS

Name :	MAHINDRA INTERTRADE LIMITED
Formerly Known As :	MAHINDRA EXPORTS LIMITED
Registered Office :	Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.03.1978
Com. Reg. No.:	11-020222
Capital Investment / Paid-up Capital :	Rs.166.000 millions.
CIN No.: [Company Identification No.]	U51900MH1978PLC020222
TAN No.: [Tax Deduction & Collection Account No.]	MUMM20515F
PAN No.: [Permanent Account No.]	AAACM4745P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Traders of Engines, Leather Goods, Steel Raw Materials, Steel, Special Steels, Spare Parts, Garments, Pump Sets, Sheet Metal Components, Manhole Covers, etc.
No. of Employees :	110 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (66)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 8400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of Mahindra Group, a well known and highly respectable industrial house. It is a well established company having fine track. Financial position of the company appears to sound. Trade relations are reported as fair. Business is active. Payments are reported to be correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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 / Corporate Office :	Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra, India
Tel. No.:	91-22-24935203/ 24935185/ 86
Fax No.:	91-22-24951236/ 1872
E-Mail :	intertradeworli@vsnl.com mahindra.anand@mahindra.com doshi.bharat@mahindra.com murti.raghu@mahindra.com kumar.harsh@mahindra.com goenka.pawan@mahindra.com
Website :	http://www.mahindraintertrade.com
Location :	Owned
Branch Office :	Located at: New Delhi Kolkata Chennai Secunderabad Bangalore
Overseas Office :	UAE – Sharjah SAIF Zone P.O. Box – 8114, Sharjah
Tel. No.:	91-971-6-5573437135
Fax No.:	91-971-6-5573436
E-Mail :	mujeeb.syed@mahindra.com mukhopandhyay.anupam@mahindra.com

DIRECTORS

AS ON 22.07.2011

Name :

Mr. Rajan Wadhera

Designation :

Director

Address :

1203, Oberoi Gardens, ‘C’ Wing, Thakur village, Kandivali (East), Mumbai-400101, Maharashtra, India

Date of Birth/Age :

10.07.1956

Qualification :

B. Tech, M. Tech

Date of Appointment :

28.04.2010

DIN No :

00416429

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	U34100MH2005PTC153702	MAHINDRA AUTOMOBILE DISTRIBUTOR PRIVATE LIMITED	Nominee director	30-09-05	30-09-05	22-07-08	Active	NO
2	U27100MH2007PLC173636	MAHINDRA HINODAY INDUSTRIES LIMITED	Director	25-07-08	30-08-07	-	Active	NO
3	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	22-07-10	28-04-10	-	Active	NO
4	U34101KA1996PTC020195	MAHINDRA REVA ELECTRIC VEHICLES PRIVATE LIMITED	Director	17-09-10	26-05-10	-	Active	NO
5	U45400DL2011PTC222351	R V TOWERS PRIVATE LIMITED	Additional director	27-10-11	27-10-11	-	Active	NO

Name :

Mr. Bharat Doshi

Designation :

Chairman

Address :

8, St. Helen’s Court, Dr. Gopalrao Deshmukh Marg, Mumbai – 400026

Date of Birth/Age :

12.06.1949

Qualification :

B. Com., LLM, FCA, FCS, PMD (Harvard)

Date of Appointment :

28.08.1992

DIN No :

00012541

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	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	27-12-90	27-12-90	-	Active	NO
2	L65921MH1991PLC059642	MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED	Director	22-07-06	30-03-92	-	Active	NO
3	L65990MH1945PLC004558	MAHINDRA AND MAHINDRA LIMITED	Whole-time director	01-08-10	28-08-92	-	Active	NO
4	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Nominee director	15-01-93	15-01-93	30-04-08	Active	NO
5	U65910MH1985PLC036060	MAHINDRA HOLDINGS AND FINANCE LIMITED	Director	03-03-95	03-03-95	-	Amalgamated	NO
6	U80210MH1993NPL073071	THE MAHINDRA UNITED WORLD COLLEGE OF INDIA	Director	19-02-96	19-02-96	-	Active	NO
7	L64200MH1986PLC041370	TECH MAHINDRA LIMITED	Nominee director	06-06-97	06-06-97	-	Active	NO
8	U65991MH1995PTC095500	FRANKLIN TEMPLETON TRUSTEE SERVICES PRIVATE LIMITED	Director	14-08-98	14-08-98	21-03-09	Active	NO
9	U72200MH1999PLC122456	NSE IT LIMITED	Director	03-02-00	03-02-00	-	Active	NO
10	L24246MH2000PLC129806	GODREJ CONSUMER PRODUCTS LIMITED	Director	01-04-01	01-04-01	-	Active	NO
11	U63040MH1994PLC079098	MAHINDRA NAVISTAR AUTOMOTIVES LIMITED	Director	14-07-06	11-01-06	-	Active	NO
12	U65922MH2007PLC169791	MAHINDRA RURAL HOUSING FINANCE LIMITED	Director	18-07-08	09-04-07	13-01-09	Active	NO
13	U65993MH2007PLC175649	MAHINDRA HOLDINGS LIMITED	Director	29-07-08	02-11-07	-	Active	NO
14	U35914MH2007PTC169753	MAHINDRA NAVISTAR ENGINES PRIVATE LIMITED	Director	31-07-08	31-01-08	-	Active	NO
15	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	14-06-08	14-06-08	-	Active	NO
16	U92190MH2008PLC178894	MUMBAI MANTRA MEDIA LIMITED	Director	08-09-09	29-10-08	29-03-10	Active	NO
17	U24211MH1987PLC043137	GODREJ HOUSEHOLD PRODUCTS LIMITED	Director	28-05-10	28-05-10	-	Amalgamated	NO
18	U93090MH2010NPL201145	INDIAN COUNCIL ON GLOBAL RELATIONS	Director	28-09-11	25-08-10	-	Active	NO

Name :

Mr. Parag Shah

Designation :

Director

Address :

7, Kailas, 50, Peddar Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

25.11.1975

Qualification :

BS (Computer Engineering), PMD (Harvard)

Date of Appointment :

22.07.2010

DIN No :

00374944

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	U01110MH1983PTC029216	INDIRA AGRICULTURAL FARM PRIVATE LIMITED	Director	04-09-96	04-09-96	-	Under Process of Striking off	NO
2	U67190MH1987PTC042205	SHAH AND GALA FINANCE CONSULTANTS PRIVATE LIMITED	Director	02-05-97	02-05-97	-	Strike off	NO
3	U51900MH1985PTC037329	SYSTEMS MARKETING (INDIA) PRIVATE LIMITED	Director	02-05-97	02-05-97	-	Strike off	NO
4	U25209MH1998PTC116707	C J INDUSTRIES PRIVATE LIMITED	Director	29-09-98	29-09-98	-	Active	NO
5	U27100MH1981PTC025565	HYD-AIR MAGNETS PRIVATE LIMITED	Director	24-05-07	24-05-07	-	Strike off	NO
6	U63032MH2008PTC186581	MAHINDRA OCEAN BLUE MARINE PRIVATE LIMITED	Director	25-09-09	09-09-08	-	Active	NO
7	U35911MH2008PLC185462	MAHINDRA TWO WHEELERS LIMITED	Director	12-08-09	29-09-08	-	Active	NO
8	U92412MH2008PTC187927	MAHINDRA UNITED FOOTBALL CLUB PRIVATE LIMITED	Director	01-09-09	03-11-08	-	Active	NO
9	U63000MH2007PLC173466	MAHINDRA LOGISTICS LIMITED	Director	11-08-09	28-04-09	-	Active	NO
10	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	10-08-10	03-11-09	-	Active	NO
11	U29268MH2010PTC198438	MAHINDRA CONVEYOR SYSTEMS PRIVATE LIMITED	Director	23-06-11	04-01-10	-	Active	NO
12	U40101MH2010PTC205236	MAHINDRA SOLAR ONE PRIVATE LIMITED	Director	16-09-11	04-07-10	-	Active	NO
13	U22120MH1948PTC009314	THE INDIAN AND EASTERN ENGINEER COMPANY PRIVATE LIMITED	Additional director	09-07-10	09-07-10	-	Active	NO
14	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	22-07-11	22-07-10	-	Active	NO
15	U40300MH2010PTC205946	MAHINDRA OFFGRID SERVICES PRIVATE LIMITED	Director	26-07-10	26-07-10	-	Active	NO
16	U74990MH2010PTC207854	MAHINDRA EPC SERVICES PRIVATE LIMITED	Director	19-09-10	19-09-10	11-03-11	Active	NO
17	U67110MH2008PLC188837	RETAIL INITIATIVE HOLDINGS LIMITED	Director	29-09-11	13-08-11	-	Active	NO

Name :

Mr. Zhooben Bhiwandiwala

Designation :

Director

Address :

S – 13, Cusrow Baug, Shahid Bhagat, Singh Road, Mumbai – 400039, Maharashtra, India

Date of Birth/Age :

09.12.1959

Qualification :

B. Com., C. A.

Date of Appointment :

17.02.2000

DIN No :

00110373

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	U51900MH1988PTC046152	ALBERTVILLE EXPORTS PRIVATE LIMITED	Director	08-02-88	08-02-88	-	Dormant	NO
2	U22120MH1948PTC009314	THE INDIAN AND EASTERN ENGINEER COMPANY PRIVATE LIMITED	Additional director	10-08-09	20-01-92	-	Active	NO
3	U74140MH1992PLC066606	MAHINDRA AND MAHINDRA CONTECH LIMITED	Director	22-02-93	22-02-93	27-05-08	Active	NO
4	U74140MH1982PTC026770	PRUDENTIAL MANAGEMENT AND SERVICES PRIVATE LIMITED	Director	12-01-98	12-01-98	05-05-10	Active	NO
5	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	17-02-00	17-02-00	-	Active	NO
6	U74999MH1999PTC121254	MW COM (INDIA)PRIVATE LIMITED	Director	06-10-03	06-10-03	29-03-10	Active	NO
7	U30007MH1991PLC064368	BRISTLECONE INDIA LIMITED	Director	05-08-04	05-08-04	05-06-08	Active	NO
8	L27100MH1999PLC121285	MAHINDRA FORGINGS LIMITED	Director	19-05-06	28-04-06	-	Active	NO
9	U18101MH1995PLC095482	NBS INTERNATIONAL LIMITED	Director	28-09-07	15-11-06	29-10-08	Active	NO
10	U67120MH2007PLC168985	MAHINDRA STOKES HOLDING COMPANY LIMITED	Director	24-09-07	21-03-07	-	Amalgamated	NO
11	U31200MH1954PLC019908	MAHINDRA ENGINEERING AND CHEMICAL PRODUCTS LIMITED	Director	25-09-08	27-08-07	-	Active	NO
12	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	20-08-08	03-09-07	-	Active	NO
13	U74999MH1995PLC093447	TECPRO ASHTECH LIMITED	Additional director	05-11-07	05-11-07	05-01-08	Amalgamated	NO
14	U29130MH2004PTC168150	MAHINDRA GEARS AND TRANSMISSIONS PRIVATE LIMITED	Director	22-07-08	24-12-07	-	Active	NO
15	U29299MH1963PLC019745	MAHINDRA HINODAY INDUSTRIES LIMITED	Director	06-05-08	22-01-08	-	Amalgamated	NO
16	U27100MH2007PLC173636	MAHINDRA HINODAY INDUSTRIES LIMITED	Director	25-07-08	22-01-08	-	Active	NO
17	U63032MH2008PTC186581	MAHINDRA OCEAN BLUE MARINE PRIVATE LIMITED	Director	25-09-09	09-09-08	-	Active	NO
18	U67110MH2008PLC188837	RETAIL INITIATIVE HOLDINGS LIMITED	Director	11-12-09	11-12-08	16-08-11	Active	NO
19	U35911MH2008PLC185462	MAHINDRA TWO WHEELERS LIMITED	Director	12-08-09	12-12-08	-	Active	NO
20	U73100MH1995PTC124707	OWENS-CORNING (INDIA) PRIVATE LIMITED	Director	26-09-09	01-04-09	24-11-10	Active	NO
21	U63000MH2007PLC173466	MAHINDRA LOGISTICS LIMITED	Director	11-08-09	28-04-09	-	Active	NO
22	U29268MH2009PTC190702	DEFENCE LAND SYSTEMS INDIA PRIVATE LIMITED	Director	26-04-10	29-04-09	27-04-10	Active	NO
23	U27100MH2009PLC193205	MAHINDRA ELECTRICAL STEEL LIMITED	Director	29-09-10	10-06-09	-	Active	NO
24	U92190MH2008PLC178894	MUMBAI MANTRA MEDIA LIMITED	Director	30-09-10	29-03-10	-	Active	NO
25	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Director	22-07-10	29-04-10	-	Active	NO
26	U55100DL2011PTC222498	EKATRA HOSPITALITY VENTURES PRIVATE LIMITED	Director	18-07-11	18-07-11	-	Active	NO
27	U65993MH2007PLC175649	MAHINDRA HOLDINGS LIMITED	Director	29-08-11	18-07-11	-	Active	NO
28	U74899DL1989PTC038453	M. A. R. K. HOTELS PRIVATE LIMITED	Director	30-09-11	30-09-11	-	Active	NO

Name :

Ms. Tarjani Vakil

Designation :

Director

Address :

A – 1, Ishwardas Mansion, Nana Chowk, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

30.10.1936

Qualification :

M.A. (Economics)

Date of Appointment :

28.04.2000

DIN No :

00009603

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	L24220MH1945PLC004598	ASIAN PAINTS LIMITED	Director	01-12-98	01-12-98	-	Active	NO
2	U65991MH1996PTC100444	DSP BLACKROCK TRUSTEE COMPANY PRIVATE LIMITED	Director	23-02-99	23-02-99	-	Active	NO
3	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	28-04-00	28-04-00	-	Active	NO
4	L17199GJ1956PLC001107	ADITYA BIRLA NUVO LIMITED	Director	27-07-00	27-07-00	-	Active	NO
5	L99999MH1979PLC021796	ALKYL AMINES CHEMICALS LIMITED	Director	11-08-05	11-08-05	-	Active	NO
6	L72200MH1989PLC053666	ORACLE FINANCIAL SERVICES SOFTWARE LIMITED	Director	07-08-06	07-08-06	25-08-10	Active	NO
7	U51900MH1968NPL013966	COUNCIL FOR FAIR BUSINESS PRACTICES	Director	31-08-06	31-08-06	-	Active	NO
8	L32100GJ1996PLC030976	IDEA CELLULAR LIMITED	Director	30-09-06	02-09-06	-	Active	NO
9	U74899DL1995PLC068988	IDEA MOBILE COMMUNICATIONS LIMITED	Director	02-09-06	02-09-06	-	Amalgamated	NO
10	U74999MH2008PTC186670	ADITYA BIRLA TRUSTEE COMPANY PRIVATE LIMITED	Director	14-09-09	26-11-08	-	Active	NO
11	U99999MH2000PLC128110	BIRLA SUN LIFE INSURANCE COMPANY LIMITED	Director	16-06-10	10-11-09	-	Active	NO

Name :

Mr. Raghunath Murti

Designation :

Executive Vice Chairman

Address :

F – 53, 5^th Floor, Venus Apartments, Twin Star Venus Co-operative Housing Society, 87, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

31.10.1948

Qualification :

B. Com., Diploma Marketing Management

Date of Appointment :

26.02.2003

DIN No :

00082761

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	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	29-04-09	27-02-03	-	Active	NO
2	U01409MH2000PLC125781	MAHINDRA SHUBHLABH SERVICES LIMITED	Director	17-03-03	17-03-03	25-10-07	Active	NO
3	U74999MH1995PLC093447	TECPRO ASHTECH LIMITED	Director	24-12-03	24-12-03	05-01-08	Amalgamated	NO
4	U31200MH1954PLC019908	MAHINDRA ENGINEERING AND CHEMICAL PRODUCTS LIMITED	Director	18-03-05	18-03-05	-	Active	NO
5	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Director	15-02-07	01-04-05	29-04-10	Active	NO
6	U45209RJ2005PLC021207	MAHINDRA WORLD CITY (JAIPUR) LIMITED	Director	06-07-07	20-11-06	-	Active	NO
7	U45309MH2005PLC156225	MAHINDRA WORLD CITY (MAHARASHTRA) LIMITED	Director	18-07-07	28-12-06	17-10-11	Active	NO
8	U73100MH1995PTC124707	OWENS-CORNING (INDIA) PRIVATE LIMITED	Director	23-02-07	23-02-07	31-03-09	Active	NO
9	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	20-08-08	03-09-07	31-03-09	Active	NO
10	U63000MH2007PLC173466	MAHINDRA LOGISTICS LIMITED	Director	10-09-08	03-10-07	31-03-09	Active	NO

Name :

Mr. Rajeev Dubey

Designation :

Director

Address :

1701, Mahindra Heights, Tardeo Road, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

03.04.1954

Qualification :

B.A., M.A., MBA (Yale)

Date of Appointment :

25.02.2004

DIN No :

00104817

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	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	25-02-04	25-02-04	-	Active	NO
2	U74999MH2000PLC126610	OFFICEMART INDIA .COM LIMITED	Director	10-03-04	10-03-04	16-11-10	Active	NO
3	U65990MH1987PLC042609	MAHINDRA INSURANCE BROKERS LIMITED	Director	03-08-04	03-08-04	-	Active	NO
4	U64200MH1994PLC083996	MAHINDRA FIRST CHOICE WHEELS LIMITED	Director	01-12-04	01-12-04	-	Active	NO
5	L99999MH1962PLC012542	MAHINDRA UGINE STEEL COMPANY LIMITED	Director	20-10-06	20-10-06	23-01-09	Active	NO
6	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Nominee director	24-07-07	08-11-06	-	Active	NO
7	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	20-08-08	03-09-07	-	Active	NO
8	U74990MH2007PLC174898	WALCHAND TALENTFIRST LIMITED	Director	21-04-08	31-12-07	-	Amalgamated	NO
9	U35999MH2008PLC180385	MAHINDRA FIRST CHOICE SERVICES LIMITED	Director	22-07-09	24-03-08	-	Active	NO
10	U91110MH2001NPL130853	MAGIC BUS INDIA FOUNDATION	Director	26-09-08	12-09-08	-	Active	NO
11	U92412MH2008PTC187927	MAHINDRA UNITED FOOTBALL CLUB PRIVATE LIMITED	Director	01-09-09	03-11-08	-	Active	NO
12	U27100MH2009PLC193205	MAHINDRA ELECTRICAL STEEL LIMITED	Director	29-09-10	10-06-09	-	Active	NO
13	L65993MH1920PLC000791	WALCHAND PEOPLEFIRST LIMITED	Director	07-05-10	07-05-10	-	Active	NO

Name :

Mr. Harsh Kumar

Designation :

Managing Director

Address :

201, Ferndale, 12^th Road, Khar West, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

21.08.1954

Qualification :

B. Tech (Mech), PGDBM (Marketing / Finance) XLRI

Date of Appointment :

24.01.2006

DIN No :

00082621

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	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Managing director	15-02-07	28-03-06	Active	NO
2	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Managing director	11-12-06	24-11-06	Active	NO
3	L99999MH1962PLC012542	MAHINDRA UGINE STEEL COMPANY LIMITED	Director	28-07-09	23-01-09	Active	NO
4	U27100MH2009PLC193205	MAHINDRA ELECTRICAL STEEL LIMITED	Director	29-09-10	10-06-09	Active	NO

Name :

Mr. Pravin Nagindas Shah

Designation :

Director

Address :

41-42, Sailesh, Plot No.94-A, Linking Road, TPS II, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

14.05.1954

Date of Appointment :

25.10.2006

Qualification :

B. Com, C. A.

DIN No :

00056173

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 22.07.2011

Names of Shareholders	No. of Shares
Mahindra and Mahindra Limited, India	27100000
Mahindra and Mahindra Limited Jt. with Mr. Zhooben Bhiwandiwala	1
Mahindra and Mahindra Limited Jt. with Mr. Bharat Doshi	1
Mahindra and Mahindra Limited Jt. with Mr. P. N. Shah	1
Mahindra and Mahindra Limited Jt. with Mr. Harsh Kumar	1
Mahindra and Mahindra Limited Jt. With Mr. Jyoti Walunj	1
Mahindra Holdings Limited, India	1
Mahindra and Mahindra Limited Jt. With Mr. Narayan Shankar	1
Total	27100007

Note: *out of these shares 15000000 equity shares are partly paid up @ Rs. 3/- per share

AS ON 22.07.2011

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Traders of Engines, Leather Goods, Steel Raw Materials, Steel, Special Steels, Spare Parts, Garments, Pump Sets, Sheet Metal Components, Manhole Covers, etc.

Products :

Item Code No. (ITC Code)	Product Description
7225	Electrical Steel Sheets
7209	Flat Rolled Products (Cold Rolled)
7204	Steel Scrap

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Actual Production
Steel Products	MT	# 168090.96

# Including scrap 5200.30 MT.

GENERAL INFORMATION

No. of Employees :

110 (Approximately)

Bankers :

· State Bank of India, Corporate Accounts Group, Madam Cama Road, Nariman Point, Mumbai-400021, Maharashtra, India

· Axis Bank Limited, Credit Management Centre, Unit Noi.6, Corporate Park, Sion Trombay Road, Chembur, Mumbai-400071, Maharashtra, India

• ING Vysya Bank Limited, Industrial Finance Branch, Poonam Chambers, Ground Floor, Dr. A. B. Road, Mumabi-400018, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee Term Loans Secured
Rupee Term Loans Banks Secured	0.000	237.243
Foreign Currency Loan Secured	0	0
Foreign Currency Loan Banks Secured	0.000	183.429
Other Debt Secured	0.275	0.239
Total	0.275	420.911

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins And Sells Chartered Accountant
Address :	12, Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai-400018, Maharashtra, India
PAN No.:	AABFD7919A
Holding Company :	Mahindra and Mahindra Limited, India CIN No.: L65990MH1945PLC004558
Subsidiaries Company / Subsidiary Companies and Joint Ventures :	Mahindra Middle East Electrical Steel Service Centre FZC Mahindra Steel Service Centre Limited (w.e.f. 11th November, 2009) CIN No.: U27100MH1993PLC070416 Mahindra Electrical Steel Limited (w.e.f.10^th June,2009 ) CIN No.: U27100MH2009PLC193205
Fellow Subsidiaries :	Atmart Mahindra First Choice Wheels Limited CIN No.: U64200MH1994PLC083996 Bristlecone India Limited CIN No.: U30007MH1991PLC064368 Mahindra Holidays and Resorts India Limited CIN No.: L55101TN1996PLC036595 Mahindra Navistar Automotives Limited CIN No.: U63040MH1994PLC079098 Mahindra and Mahindra Financial Services Limited CIN No.: L65921MH1991PLC059642 Mahindra Automobile Distributor Private Limited (Formerly Mahindra Renault Private Limited.) CIN No.: U34100MH2005PTC153702 Mahindra Ugine Steel Company Limited CIN No.: L99999MH1962PLC012542 Mahindra Logistics Limited CIN No.: U63000MH2007PLC173466 Mahindra Retail Private Limited CIN No.: U52190MH2007PTC173762 Mahindra Vehicle Manufacturers Limited CIN No.: U34100MH2007PLC171151 Mahindra Two Wheeler Limited CIN No.: U35911MH2008PLC185462 Mahindra Engineering and Chemical Products Limited CIN No.: U31200MH1954PLC019908 Tech Mahindra Limited CIN No.: L64200MH1986PLC041370 Mahindra First Choice Services Limited Mahindra USA Inc

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
28000000	Equity Shares	Rs.10/- each	Rs. 280.000 Millions
1875000	Cumulative Redeemable Preference Shares	Rs. 100/- each	Rs. 187.500 Millions
	Total		Rs. 467.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12100007	Equity Shares	Rs.10/- each	Rs. 121.000 Millions
15000000	Equity Shares	Rs.10/- partly paid at Rs.3/- per share	Rs. 45.000 Millions
	Total		Rs. 166.000 Millions

Note:

a. Of the above, 12,100,006 (2010 : 12,100,006) Equity Shares of Rs. 10/- each fully paid up, 15,000,000 (2010 : 15,000,000) Equity Shares of Rs. 10/- each, Rs. 3/- paid up are held by Mahindra and Mahindra Limited, the holding company and its nominees.

b. Of the above Of the above, 12,100,006 (2010 : 12,100,006) Equity Shares of Rs. 10/- each fully paid up, 15,000,000 (2010 : 15,000,000) Equity Shares of Rs. 10/- each, Rs. 3/- paid up are held by Mahindra and Mahindra Limited, the holding company and its nominees.

AS ON 22.07.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
28000000	Equity Shares	Rs.10/- each	Rs. 280.000 Millions
1875000	Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 187.500 Millions
	Total		Rs. 467.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27100007	Equity Shares	Rs.10/- each	Rs. 271.000 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		166.000	166.000	166.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1939.409	1533.097	1167.250
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2105.409	1699.097	1333.250
LOAN FUNDS
1] Secured Loans		0.275	420.911	483.128
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.275	420.911	483.128
DEFERRED TAX LIABILITIES		42.428	50.511	57.315
TOTAL		2148.112	2170.519	1873.693
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		609.814	662.830	736.030
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		507.566	406.462	435.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1499.650	1343.152	638.012
	Sundry Debtors	1381.186	1459.361	1366.727
	Cash & Bank Balances	44.970	54.721	14.044
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	355.021	234.708	147.152
Total Current Assets		3280.827	3091.942	2165.935
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2003.948	1752.026	654.202
	Other Current Liabilities	65.924	54.914	638.403
	Provisions	180.223	183.775	170.667
Total Current Liabilities		2250.095	1990.715	1463.272
Net Current Assets		1030.732	1101.227	702.663
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2148.112	2170.519	1873.693

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	10788.184	8763.284	8129.884
		Income from Services Rendered	49.012	75.761	57.898
		Commission	90.251	92.338	126.801
		Other Income	90.054	123.257	82.292
		TOTAL (A)	11017.501	9054.640	8396.875
Less	EXPENSES
		Consumption Material Changes Inventories	9832.639	7934.231	7152.926
		Manufacturing Service Costs	95.719	69.057	0.000
		Employees Related Expenses	72.580	64.594	75.183
		Other Expenses	125.966	120.252	329.236
		TOTAL (B)	10126.904	8188.134	7557.345
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		890.597	866.506	839.530
Less	FINANCIAL EXPENSES (D)		24.501	54.784	75.108
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		866.096	811.722	764.422
Less/ Add	DEPRECIATION/ AMORTISATION (F)		61.154	58.367	50.387
	PROFIT BEFORE TAX (E-F) (G)		804.942	753.355	714.035
Less	TAX (I)		248.680	242.696	266.924
	PROFIT AFTER TAX (G-I) (J)		556.262	510.659	447.111
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	821.772	759.241
Less	APPROPRIATIONS
		Dividend on Preference Shares		0.000	(5.735)
		Proposed Dividend on Equity Shares	NA	(124.500)	(124.500)
		Proposed Dividend on Preference Shares		0.000	0.000
		Tax on Dividend on Equity Shares		(20.678)	(21.159)
		Tax on Dividend on Preference Shares	NA	0.000	(0.975)
		Transfer to General Reserve		(51.066)	(44.711)
		Transfer to Capital redemption reserve		0.000	(187.500)
	BALANCE CARRIED TO THE B/S		NA	1136.187	821.772
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	5.538	22.439	24.787
		Commission Earnings	89.745	81.573	56.561
		Dividend	24.475	23.058	16.792
		Other Earnings	7.465	7.728	7.487
	TOTAL EARNINGS		127.223	134.798	105.627
	IMPORTS
		Raw Materials	3218.178	2975.168	2198.904
		Finished Goods resale	1.315	19.388	79.298
	TOTAL IMPORTS		3219.493	2994.556	2278.202
	Earnings Per Share (Rs.)		33.18	30.76	26.53

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.05	5.64	5.32
Net Profit Margin (PBT/Sales)	(%)	7.36	8.43	8.78
Return on Total Assets (PBT/Total Assets}	(%)	20.69	20.06	24.60
Return on Investment (ROI) (PBT/Networth)		0.38	0.44	0.54
Debt Equity Ratio (Total Liability/Networth)		1.09	1.45	1.50
Current Ratio (Current Asset/Current Liability)		1.46	1.55	1.48

LOCAL AGENCY FURTHER INFORMATION

NOTE:

Registered Office of the company has been shifted from Gateway Building, Apollo Bunder, Mumbai – 400001, Maharashtra, India to the present address

FINANCIAL RESULTS

The Company's income for the year increased from Rs 11017.500 millions to Rs 9054.600 millions, in the previous year, a growth of 22%, Mainly on account of higher sales and increase in steel prices. Profit before Tax for the year was higher at Rs 804.900 millions as compared to Rs 753.300 millions in the previous year, an increase of 7%.

OPERATIONS

During the year, the Automotive Sector grew at a robust pace resulting in increased demand for processed steel from the Company.

International price of steel remained volatile through the year mainly on account of fluctuations and increase in raw material prices.

Sale of Cold Rolled Grain Oriented electrical steel during the year was affected due to weak demand from domestic transformer manufacturers which also impacted margins.

SUBSIDIARIES

MAHINDRA STEEL SERVICE CENTRE LIMITED:

The financial performance of Mahindra Steel Service Centre Limited (MSSCL) during the year was affected due to the gradual ramp up at its new facility at Bhopal, and falling Cold Rolled Grain Oriented prices.

The Company subscribed to the Rights issue of shares offered by MSSCL to fund its Cold Rolled Non Grain Oriented Stampings project resulting in an investment of Rs 109.800 millions by the Company.

MAHINDRA MIDDLEEAST ELECTRICAL STEEL SERVICE CENTRE (FZC):

The financial performance of Mahindra MiddleEast Electrical Steel Service Centre (FZC) (MME) improved considerably during the year on account of its higher capacity utilization

MAHINDRA ELECTRICAL STEEL LIMITED:

Mahindra Electrical Steel Limited is in the process of closing a Supply Agreement with its target anchor customer subsequent to which it will proceed with the setting up of an electrical steel service centre in Northern India.

CONTINGENT LIABILITIES:

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010
Claims against the Company not acknowledged as debts: demand [including interest Rs. 9.440 millions (2010: Rs.11.629 millions)] for various assessment years, which is being contested by the Company.	95.004	64.075
Corporate Guarantee given by the Company against Credit Facilities sanctioned by Axis Bank Limited to the subsidiary Company Mahindra Steel Service Centre Limited on 13^th August, 2009.	0.000	190.000
Corporate Guarantee given by the Company against Credit Facilities sanctioned by ICICI Bank Limited to the subsidiary Company Mahindra Electrical Steel Limited on 8^th December, 2010.	183.000	0.000

FORM 8

Corporate identity number of the company	U51900MH1978PLC020222
Name of the company	MAHINDRA INTERTRADE LIMITED
Address of the registered office or of the principal place of business in India of the company	Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra, India
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Others
Particular of charge holder	Axis Bank Limited, Credit Management Centre, Unit Noi.6, Corporate Park, Sion Trombay Road, Chembur, Mumbai-400071, Maharashtra, India
Nature of instrument creating charge	Amendment cum Link Agreement (ALK) dated 22nd February, 2011
Date of instrument Creating the charge	22.02.2011
Amount secured by the charge	Rs. 150.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As per Sanction letter or as stipulated by Bank from time to time. Terms of repayment on demand Margin As per Sanction letter or as stipulated by Bank from time to time. Extent and operation of the charge Pari Passu first charge on the current assets of the Company, both present and future Other The credit facilities granted by the Bank of Rs.150.000 millions, now the borrower has been permitted 100% one way interchangeability from fund based to non fund based working capital limits. The security by way of pari passu charge on current assets, Stocks of RM, SIF, FG, S and S , Bills receivables, Book Debts and other Current Assets lying at Company's Premises or elsewhere or in transit, des. in 2nd Sch. to Amendment cum Link Agreement given earlier shall continue as security for realigned limits.
Short particulars of the property charged (Including location of the property)	Pari Passu first charge on all present and future stocks of RM, SIF, FG, S and S, packing materials, etc. at Company's premises or elsewhere or in transit. Pari Passu first charge on all present and future Book Debts and Receivables and other Current Assets lying at Company's premises or elsewhere or in transit
Charge identification number of the charge to be modified	10003008
Particulars of the present modification	Pursuant to the Amendment cum Link Agreement date. 22.02.11, the Company has been allowed 100% one way interchange ability from fund based to non fund based working capital limits, overall limits remaining the same at Rs. 150.000 millions. The security by way of Pari Passu 1st Charge on the Current Assets of the company, both present and future, lying at Company's Premises or in transit, des. in Schedule to Amendment cum Link Agreement given earlier shall continue as security for the realigned limits.

FIXED ASSETS:

• Freehold Land
• Leasehold Land
• Buildings
• Office Equipments
• Computers
• Plant and Machinery
• Furniture and Fittings
• Vehicles

WEB SITE DETAILS

PROFILE

Subject is a wholly owned subsidiary of the Mahindra and Mahindra group, one of the 10 largest industrial houses in India. MIL undertakes imports, exports, third country business, domestic trading and marketing and distribution activities. The product portfolio is wide and diversified and includes steel, steel raw material, technical and application-engineering products, metals (non-ferrous), commodities, consumer products and engineering products.

Subject was incorporated from a division into a separate company in 1999 to pursue unhindered and fast growth leveraging our skills and competencies. 

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.56.01
UK Pound	1	Rs.87.85
Euro	1	Rs.70.54

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		66

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.