MIRA INFORM REPORT

Report Date :

09.03.2012

IDENTIFICATION DETAILS

Name :	SANVIJAY ROLLING AND ENGINEERING LIMITED
Registered Office :	9, Imambada Road, Nagpur – 440018, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	16.10.1987
Com. Reg. No.:	11-045013
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U27100MH1987PLC045013
TAN No.: [Tax Deduction & Collection Account No.]	NGPS00313F
PAN No.: [Permanent Account No.]	AACCS0217J
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Subject is engaged in Steel Re–Rolling and Traded Goods.
No. of Employees :	Total : 520 ( Office : 118, Factory : 390, Branches : 12) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (68)

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 14000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and having reputed company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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 :	9, Imambada Road, Nagpur – 440018, Maharashtra, India
Tel. No.:	91-7104-237961 / 712-2729130-136
Fax No.:	91-7104-236475 / 712-2720716 / 2723799
E-Mail :	steel@sanvijay.com
Website :	www.sanvijay.com
Factory 1 :	Unit H – 3, Plot No. 41 and 43, MIDC, Hingna Road, Nagpur – 440028, Maharashtra
Tel. No.:	91-7104-235064, 7104-235697, 7104-235713
Fax No.:	91-7104-235713
Area :	32775 sq. mtr.
Location :	Leased
Factory 2 :	Unit H – 4, Plot No. F – 11 / 12, MIDC, Hingna Road, Nagpur – 440016, Maharashtra
Tel. No.:	91-7104-236472, 7104-236473, 7104- 236761
Fax No.:	91-7104- 236471
Area :	24084 sq. mtr.
Location :	Leased

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Sanjay Agarwal
Designation :	Whole Time Director
Address :	26, Bhagwaghar Layout, Dharampeth, Nagpur – 440010.
Date of Birth/Age :	26.07.1966
Qualification :	B.com
Date of Appointment :	06.02.2003
DIN No.:	00308722

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	U70101MH1992PTC067892	LOSSY ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	15-07-99	15-07-99	-	Active	NO
2	U72220MH2000PTC124023	MACROSOFT INFOTECH AND SYSTEMS PRIVATE LIMITED	Director	03-02-00	03-02-00	-	Active	NO
3	U45208MH1980PTC022816	SUNRISE STRUCTURALS AND ENGINEERING PRIVATE LIMITED	Director	14-08-00	14-08-00	-	Active	NO
4	U45209MH1995PTC094474	SANVIJAY AUTO ENGINEERING PRIVATE LIMITED	Director	01-01-02	01-01-02	-	Active	NO
5	U27100MH1988PTC046143	DIU ISPAT UDYOG PRIVATE LIMITED	Director	10-12-02	10-12-02	-	Active	NO
6	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Whole-time director	16-02-03	16-02-03	-	Active	NO
7	U45201MH2006PLC165768	CHHINDWARA PLUS DEVELOPERS LIMITED	Director	24-11-06	24-11-06	-	Active	NO
8	U74899MH1994PTC193861	PROGRESSIVE CASTINGS PRIVATE LIMITED	Director	29-09-07	28-06-07	05-12-11	Active	NO
9	U27101CT2005PTC017500	SATYA SHYAM STEELS PRIVATE LIMITED	Director	30-09-08	10-03-08	-	Active	NO
10	U24239MH2009NPL189289	APPLE MEDICARE	Director	01-01-09	01-01-09	-	Active	NO
11	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Managing director	28-01-10	20-01-09	-	Active	NO
12	U70101MH2006PTC161848	LALITAMBIKA BUILDERS AND DEVELOPERS PRIVATE LIMITED	Additional director	15-04-09	15-04-09	-	Active	NO
13	U01403MH2007PTC168270	MAHALAXMI AGRO AND LAND DEVELOPERS PRIVATE LIMITED	Additional director	15-04-09	15-04-09	-	Active	NO
14	U27106MH2007PLC176783	SOMU STEEL AND POWER LIMITED	Director	30-09-09	01-06-09	-	Active	NO
15	U51109WB1995PTC069876	MAHAK TRACON PRIVATE LIMITED	Director	30-09-09	24-06-09	-	Active	NO
16	U10100MH2008PTC186624	MAHARASHTRA COAL COMPANY PRIVATE LIMITED	Director	30-09-10	27-11-09	-	Active	NO
17	U30007MH1990PLC056918	LIBERTY COMPUTER STATIONERY LIMITED	Additional director	15-12-09	15-12-09	30-09-10	Active	NO
18	U28920MH1982PTC029004	PRAKASH TRADERS PRIVATE LIMITED	Additional director	15-12-09	15-12-09	30-09-10	Active	NO
19	U51109WB2007PTC114468	BASUDEO VYAPAAR PRIVATE LIMITED	Additional director	01-04-10	01-04-10	-	Active	NO
20	U51909WB2007PTC114636	DAMODAR VINIMAY PRIVATE LIMITED	Additional director	01-04-10	01-04-10	-	Active	NO
21	U51909WB2007PTC114541	BASUKINATH SALES PRIVATE LIMITED	Additional director	01-04-10	01-04-10	-	Active	NO
22	U65993WB1977PTC031098	BOHRA AND COMPANY PRIVATE LIMITED	Director	18-06-10	18-06-10	-	Active	NO
23	U51109WB1996PTC078080	VASUNDHARA COMMODITIES PRIVATE LIMITED	Director	25-06-10	25-06-10	-	Active	NO
24	U74900MH2009PTC195711	EXPLO-TECH CONSULTING PRIVATE LIMITED	Director	05-01-11	05-01-11	-	Active	NO

Name :	Mr. Ajay Purnlal Agarwal
Designation :	Whole Time Director
Address :	12, Daga Layout, NA Road, Nagpur-440010, Maharashtra, India
Date of Birth/Age :	12.11.1979
Qualification :	B.E. (Industrial)
Date of Appointment :	03.03.2004
DIN No.:	00084840

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	U27100MH1988PTC046143	DIU ISPAT UDYOG PRIVATE LIMITED	Director	10-01-98	10-01-98	Active	NO
2	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Whole-time director	03-03-04	03-03-04	Active	NO
3	U27101CT2005PTC017500	SATYA SHYAM STEELS PRIVATE LIMITED	Director	30-09-08	10-03-08	Active	NO
4	U74899MH1994PTC193861	PROGRESSIVE CASTINGS PRIVATE LIMITED	Director	30-06-08	30-06-08	Active	NO
5	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Director	28-01-10	20-01-09	Active	NO
6	U27106MH2007PLC176783	SOMU STEEL AND POWER LIMITED	Director	30-09-09	01-06-09	Active	NO
7	U51109WB1995PTC069876	MAHAK TRACON PRIVATE LIMITED	Director	30-09-09	24-06-09	Active	NO
8	U70101MH1992PTC067892	LOSSY ESTATES AND INVESTMENTS PVT LTD	Director	30-09-10	20-10-09	Active	NO
9	U45209MH1995PTC094474	SANVIJAY AUTO ENGINEERING PRIVATE LIMITED	Additional director	24-11-11	15-12-09	Active	NO
10	U51909WB2007PTC114541	BASUKINATH SALES PRIVATE LIMITED	Additional director	01-04-10	01-04-10	Active	NO
11	U51109WB2007PTC114468	BASUDEO VYAPAAR PRIVATE LIMITED	Additional director	01-04-10	01-04-10	Active	NO
12	U51909WB2007PTC114636	DAMODAR VINIMAY PRIVATE LIMITED	Additional director	01-04-10	01-04-10	Active	NO
13	U45208MH1980PTC022816	SUNRISE STRUCTURALS AND ENGINEERING PRIVATE LIMITED	Additional director	24-11-11	24-11-11	Active	NO
14	U28920MH1982PTC029004	PRAKASH TRADERS PRIVATE LIMITED	Additional director	24-11-11	24-11-11	Active	NO
15	U30007MH1990PLC056918	LIBERTY COMPUTER STATIONERY LIMITED	Additional director	24-11-11	24-11-11	Active	NO

Name :	Mr. Shrikant Ramchandra Agarwal
Designation :	Director
Address :	26, Hindustan Colony, Amravati Road, nagpur, Maharashtra, India
Date of Birth/Age :	10.10.1960
Date of Appointment :	23.02.2009
DIN No.:	02446283

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	U74140MH2002PTC137501	NEO VISION HOMECARE SERVICES PRIVATE LIMITED	Director	24-02-04	24-02-04	Active	YES
2	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Director	30-09-09	23-02-09	Active	NO
3	U21000MH2010PTC209901	SHRIDUTTA KRUPA PACKAGING PRIVATE LIMITED	Director	09-11-10	09-11-10	Active	NO

Name :	Mr. Puroshottam Hatimal Purohit
Designation :	Director
Address :	141A, Sharda Niwas, Ramsumrbabangar lawlapeth, Nagpur, Maharashtra, India
Date of Birth/Age :	14.08.1951
Date of Appointment :	05.05.2008
DIN No.:	02563591

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	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Director	30-09-09	27-02-09	Active	NO
2	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Director	28-01-10	24-11-09	Active	NO

KEY EXECUTIVES

Name :	Ms. Shalini Nautiyal
Designation :	Secretary
Address :	203, A Wing, K C Apartment, Manjidana Colony, Gatikhandan, Katol Road, Napur-440013, Maharashtra, India
Date of Birth/Age :	26.07.1982
Date of Appointment :	01.07.2001
Pan No.:	AKRPN6236C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Sanjay Agarwal	110970
Sitadevi Agarwal	73960
Kavita Agarwal	89170
Ajay Agarwal	63750
Saurabh Agarwal	123750
Damodar Vinimay Private Limited, India	7725
Basukinath Sales Private Limited, India	15525
Basudeo Vyapar Private Limited, India	15150
Total	500000

AS ON 30.09.2011

Equity Shares Break Up	Percentage
Bodies corporate	8.00
Directors or relatives of Directors	92.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Steel Re–Rolling and Traded Goods.

Products :

Product Description	ITC Code
Iron and Steel	72.08
Rolled Steel	72.08
Steel Semis	72.08
Traded Iron and Fabricated Iron Products	72.08

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity
For Manufacturing Rolled products on single shift basis (On annualized basis)	MT	379500
For Manufacturing Steel Semis on three shift basis (On annualized basis)	MT	100000

* Considering capacity of 3 furnaces out of which power connection has been obtained for 1 furnace having capacity of 36000 MT p.a.

Particulars	Unit	Actual Production
Rolled Steel	MT	230469.878
Steel Semis	MT	23882.780
Welded Pipe	MT	72.230

*Excluding conversion quantity of 45940.111 MT (Prev. Yr 49394.655 MT) and production done for outsiders 81.561 MT (Previous year - 128.087 MT) as job work by the company.

GENERAL INFORMATION

No. of Employees :

Total : 520 ( Office : 118, Factory : 390, Branches : 12) (Approximately)

Bankers :

· Punjab National Bank, Foreshore Road Branch, 1^st Floor, Raheja Chambers, Nariman Point, Mumbai-400021, Maharashtra, India

· Uco Bank, Itwari Branch, Salasar Plaza, Post Office Road, Gandhi Baghi, Nagpur-440002, 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	61.736
Working capital loans secured
Working capital loans banks secured	2821.926	2405.111
Loans taken for fixed assets secured
Loans taken for vehicles secured	1.059	3.671
Other debt secured	450.000	1660.000
Total	3272.985	4130.518
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans unsecured
Rupee term loans others unsecured	98.683	28.244
Loans directors unsecured	448.740	604.134
Other debt unsecured	105.364	108.990
Total	652.787	741.368

Banking Relations :	--
Auditors :
Name :	Gupta Sarda and Bagdia and Company Chartered Accountant
Address :	Business Plaza, 6-Farm Land, Central Bazar Road, Lokmat Square, Ramdaspeth, Nagpur – 440010, Maharashtra, India
Tel. No.:	91-712-2438181/2437195
Pan No.:	ACAPS9724M
Subsidiaries :	Grace Industries Limited CIN No.:- U27100MH2003PLC141810
Enterprises over which Key Management Personnel have Significant Influence :	· Sunrise Structural and Engineering Private Limited CIN No.:- U45208MH1980PTC022816 · Diu Ispat Udyog Private Limited CIN No.:- U27100MH1988PTC046143 · Liberty Computer and Stationary Limited CIN No.:- U30007MH1990PLC056918 · Sanvijay Auto Engineering Private Limited CIN No.:- U45209MH1995PTC094474 · Progressive Castings Private Limited CIN No.:- U74899MH1994PTC193861 · Satyashyam Steels Private Limited CIN No.:- U27101CT2005PTC017500 · Macrosoft Infotech and Systems Private Limited · Lossy Estate and Investment Private Limited · Damodar Vinimay Private Limited · Basukinath Sales Private Limited · Basudeo Vyapar Private Limited · Vasundhara And Commodities Private Limited · Bohra and Company Private Limited Prograssive Casting Private Limited · Somu Steel and Power Limited · Mahak Tracon Private Limited · Prakash Traders Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 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		50.000	50.000	50.000
2] Share Application Money		300.000	300.000	300.000
3] Reserves & Surplus		3266.814	2780.227	2375.175
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3616.814	3130.227	2725.175
LOAN FUNDS
1] Secured Loans		3272.985	4130.518	2710.046
2] Unsecured Loans		652.787	741.368	656.518
TOTAL BORROWING		3925.772	4871.886	3366.564
DEFERRED TAX LIABILITIES		210.287	204.987	194.437
TOTAL		7752.873	8207.100	6286.176
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1332.744	1351.190	1344.319
Capital work-in-progress		29.837	1.953	50.098
INVESTMENT		251.479	450.870	450.871
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3080.646	3199.950	2430.722
	Sundry Debtors	2046.069	1440.636	1609.075
	Cash & Bank Balances	57.604	934.121	639.937
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1949.747	1994.872	1347.925
Total Current Assets		7134.066	7569.579	6027.659
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	321.222	248.694	222.281
	Other Current Liabilities	466.596	653.713	689.382
	Provisions	207.435	264.085	675.108
Total Current Liabilities		995.253	1166.492	1586.771
Net Current Assets		6138.813	6403.087	4440.888
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7752.873	8207.100	6286.176

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	10052.600	9887.309	10608.511
		Other Income	284.505	229.802	162.702
		TOTAL (A)	10337.105	10117.111	10771.213
Less	EXPENSES
		Raw Material Consumed	8409.300	8068.720	8079.732
		Purchases made for re-sale	0.000	0.000	570.285
		Direct Expenses	0.000	0.000	439.377
		Employee Expenses	211.173	186.967	82.031
		Administrative and Selling Expenses	126.308	156.551	339.999
		Prior Year Adjustment	0.000	0.000	(70.721)
		Increased / (Decreased) in Stock	0.000	0.000	133.836
		Manufacturing Service Cost	437.332	501.323	0.000
		Prior Period Items	0.318	0.345	0.000
		TOTAL (B)	9184.431	8913.906	9565.539
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1152.674	1203.205	1205.674
Less	FINANCIAL EXPENSES (D)		382.285	329.053	307.868
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		770.389	874.152	897.806
Less/ Add	DEPRECIATION/ AMORTISATION (F)		115.173	109.826	131.040
	PROFIT BEFORE TAX (E-F) (G)		655.216	764.326	766.766
Less	TAX (H)		168.629	350.502	231.679
	PROFIT AFTER TAX (G-H) (I)		486.587	413.824	535.087
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1840.122	1585.072	1208.760
Less	APPROPRIATIONS
		Transfer to General Reserve	150.000	150.000	150.000
		Dividend	0.000	7.500	7.500
		Tax on Dividend	0.000	1.274	1.275
	BALANCE CARRIED TO THE B/S		2176.709	1840.122	1585.072
	EXPORT VALUE		80.002	7.985	208.726
	IMPORTS
		Raw Materials	4.481	132.474	25.943
		Consumable (Moulds)	0.989	0.353	2.327
	TOTAL IMPORTS		5.470	132.827	28.270
	Earnings Per Share (Rs.)		973.17	827.65	1070.17

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.71	4.09	4.97
Net Profit Margin (PBT/Sales)	(%)	6.52	7.73	7.23
Return on Total Assets (PBT/Total Assets}	(%)	7.74	8.57	10.40
Return on Investment (ROI) (PBT/Networth)		0.18	0.24	0.28
Debt Equity Ratio (Total Liability/Networth)		1.42	1.99	1.82
Current Ratio (Current Asset/Current Liability)		7.17	6.49	3.80

LOCAL AGENCY FURTHER INFORMATION

PERFORMANCE REVIEW

During the year the Company’s sales and other income is Rs. 11315.700 Millions as against Rs. 10928.800 Millions in the previous year. Profit after interest, depreciation and taxes has increased from Rs. 413.800 Millions in the year 2009-10 to Rs. 486.600 Millions in year 2010-11. The Company has been successful in maintaining steady performance both in terms of sales and profitability during the year.

FORM 8

Corporate identity number of the company	U27100MH1987PLC045013
Name of the company	SANVIJAY ROLLING AND ENGINEERING LIMITED
Address of the registered office or of the principal place of business in India of the company	No. 9, Imambada Ghat Road, Nagpur-440018, Maharashtra, India
This form is for	Modification of charge
Type of charge	Immovable property
Particular of charge holder	Uco Bank, Itwari Branch, Salasar Plaza, Post Office Road, Gandhi Baghi, Nagpur-440002, Maharashtra, India
Nature of instrument creating charge	1. Supplemental Memorandum of Entry Relating To Creation and Extension of Equitable Mortgage - A/C Sanvijay Rolling and Engineering Limited, Nagpur
Date of instrument Creating the charge	25.02.2011
Amount secured by the charge	Rs. 3450.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As per second schedule of fourth supplemental working capital consortium agreement Terms of repayment Cash credit: on demand Term loan as per repayment schedule Margin As per second schedule of fourth supplemental working capital consortium agreement Extent and operation of the charge Charge operate as additional security of equitable mortgage on the immovable properties of the company.
Short particulars of the property charged (Including location of the property)	Equitable Mortgage Of Immovable Properties of The Company As Per The Second Shedule of Supplemental Memorandum of Entry Relating To Creation and Extension of Equitable Mortgage.
Charge identification number of the charge to be modified	10003936
Date of instrument modifying the charge	09.01.2009
Particulars of the present modification	Extension of equitable mortgage to reduce the aggregate fund based and non-fund based credit limits from Rs.4375.000 Millions to Rs. 3450.000 Millions. Thus total facilities stand at Rs. 3450.000 Millions as detailed under: Existing Present Cash Credit 4375.000 3450.000 Term Loan 750.000 - --------- --------- Total: 5125.000 3450.000

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Computer

· Xerox Machine

· Vacuum Cleaner

· Refrigerator

· Car

· Telephone

WEBSITE DETIALS

PROFILE

Subject is by far a foremost name in steel rolling in entire India. Subject set up by its pioneer Mr. Puranlal Agrawal, has grown from a modest trading firm in 1971 to become one of the country’s biggest and most respected multi-product steel player. Operating from Nagpur and having it’s manufacturing units at Hingna and Butibori MIDC Estates, Subject is growing leaps and bounds with each passing year, adding volumes as well as integration under its banner.

Subject, only metric sized metals in cold drawn rounds, hexagons, squares, and flats, TG and P shafting, chrome plated shafting, tubing in seamless and welded diameters, welded square and rectangular tubing, threaded rod, cold and hot rolled sheets and plates, shims, tees, angles, channels, beams, re-bars, and drill rod; all in millimeter sizes. They stock metric sizes in carbon steel, alloy, stainless steel, brass, and aluminum.

Subject is very unique in that they are the only steel distributor in the United States that stocks exclusively metric dimensional metals. Their products are perfect for the customer who requires pre-sized metric stock, which eliminates the need for further machining.

They thrive on excellent service and quality, and are now ISO9001:2000 certified. Certifications and test reports can be furnished upon request.

Drop shipments can be arranged to meet the needs. If do not find the size or grade of metal in their reference guide contact them and they will make every attempt to get it for immediately. If would like a hardcopy of their new "2009 Metric Metals Reference Guide"e-mail them and they will be happy to ship a copy to.

HISTORY

Subject located in Toledo, is unique because it is the only steel distributor in the United States that stocks exclusively metric dimensional metals. This makes it the largest supplier of metric sized metals and services in North America. Though Parker Steel was established in 1955 by Leo Goldner, his son Paul Goldner renamed the company to Parker Steel International in 1991, at the bottom of a depression in the steel industry. The steel business was terrible, and selling what everyone else was selling seemed like a route to disaster.

He wanted to do something in metals that had never been tried before. Paul found that there were no warehouses in America that stocked metric sizes in carbon steel, alloy steel, stainless steel, aluminum, brass and copper in all the standard shapes. There were about 25 firms that sold metric sizes of metals but none that covered the entire range of products. His goal was to make the purchase of metric sizes of metals as fast, convenient and easy for the buyer as possible.

He started the business by himself, hiring a secretary, and stocked the steel in the basement below his office. In the beginning, Paul bought the inventory, received it and stored all the metal himself. He also took the orders, packed and loaded the trucks himself.

Today Subject, has a 75,000 square foot warehouse stocked with six times as many metric size items as all its competitors combined. Now there is a fully trained warehouse crew, an experienced sales staff, purchasing department and clerical office. The company stocks more than 5,000 line items in products such as round, flat and hex bars. Also chrome plated shafting, equal and unequal angles, tees, I beams, channels, shim stock, plates, sheets, round and seamless round tubing, square and rectangular tubing.

Subject is a business-to-business provider that has an extremely diverse customer base, ranging from engineers and large corporations, to small job shop owners and everyone in between. Because of its extensive stock, and low minimum order of $85, the company is able to ship 99 percent of orders the same day

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. 50.02
UK Pound	1	Rs. 79.31
Euro	1	Rs. 66.02

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	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--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		68

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.