MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	JINDAL ALUMINIUM LIMITED
Registered Office :	Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	11.06.1975
Com. Reg. No.:	08-02806
Capital Investment / Paid-up Capital :	Rs.210.168 Millions
CIN No.: [Company Identification No.]	U85110KA1975PLC002806
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	manufacturer of Aluminium Extruded Profiles
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (61)

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 31460000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is the flagship company of the Jindal Group of Industries, a renewed industrial house in India. It is a well established and reputed company having fine track records. Financial positions 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 :	Jindal Nagar, Tumkur Road, Bangalore – 560 073, Karnataka, India
Tel. No.:	91 - 80 - 23715555 (6 Lines)
Fax No.:	91 - 80 - 23713333
E-Mail :	jalsec@jindalaluminium.com jalmkt@jindalaluminium.com jalexport@jindalaluminium.com aluminium.jindal@gems.vsnl.net.in jindal@bgl.vsnl.net.in
Website :
Area :	150000 sq. ft. (30 acre land)
Location :	Owned
Branch Office :	Located at : Ahmedabad Kochi New Delhi Chennai Mumbai Pune

DIRECTORS

As on 05.09.2011

Name :

Mr. Sitaram Jindal

Designation :

Managing director

Address :

Tumkur Road, Bangalore-560 073, Karnataka

Date of Birth/Age :

12.09.1933

Date of Appointment :

11.06.1975

DIN No.:

00112560

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	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Managing director	01-07-08	11-06-75	-	Active	NO
2	U28999DL1971PLC005782	STEEL AND METAL TUBES (INDIA) LTD	Director	27-04-98	27-04-98	-	Active	NO
3	U27104KA2003PLC031567	DRUGLESS HEALTH CARE (INDIA) LIMITED CN	Director	10-02-03	10-02-03	31-10-08	Active	NO
4	U14200KA2008PLC045891	DAKSHIN MINES AND MINERALS LIMITED	Director	02-04-08	02-04-08	31-03-09	Active	NO
5	U28121MH2011PLC219872	JINDAL ALUMINIUM ROLLING LIMITED	Director	18-07-11	18-07-11	-	Active	NO

Name :

Mr. Krishnaswamy Iyengar Ramaswamy Iyengar Raghunath

Designation :

Whole-time director

Address :

1202, Shanthala, 2^nd Stage Rajaji Nagar Bangalore-560 073 , Karnataka

Date of Birth/Age :

23.02.1945

Date of Appointment :

28.08.1996

DIN No.:

00009992

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	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Whole-time director	09-08-11	28-08-96	-	Active	NO
2	U08022KA2002NPL030879	PRAGUN JINDAL EDUCATIONAL ORGANISATION	Director	04-07-05	04-07-05	25-11-08	Active	NO
3	U28121MH2011PLC219872	JINDAL ALUMINIUM ROLLING LIMITED	Director	18-07-11	18-07-11	-	Active	NO

Name :

Mr. Hari Shanker Bansal

Designation :

Director

Address :

Bansal Bhatta Road, Vasant Kunj New Delhi-110 048

Date of Birth/Age :

22.09.1945

Date of Appointment :

01.08.2007

DIN No.:

00034660

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	U51398MH1987PTC184943	D GAUTAM INTERNATIONAL PRIVATE LIMITED	Director	24-05-04	24-05-04	05-12-07	Active	NO
2	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	03-09-07	01-08-07	-	Active	NO
3	U08022KA2002NPL030879	PRAGUN JINDAL EDUCATIONAL ORGANISATION	Director	06-09-08	16-06-08	-	Active	NO
4	U28121MH2011PLC219872	JINDAL ALUMINIUM ROLLING LIMITED	Director	18-07-11	18-07-11	-	Active	NO

Name :

Mr. Ravinder Kumar Jindal

Designation :

Director

Address :

House No. 73, Road No. 41, West Punjabi Bagh, New Delhi – 110025, India

Date of Birth/Age :

29.10.1962

Date of Appointment :

06.10.2009

DIN No.:

00022246

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	U74899DL1984PTC019362	UNITED DECORATIVES PVT LTD	Managing director	01-04-86	01-04-86	-	Active	NO
2	U25207HR1971PLC006005	JINDAL INDUSTRIES LIMITED	Director	30-09-09	18-04-09	-	Active	NO
3	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	03-09-10	06-10-09	-	Active	NO
4	U27104KA2003PLC031567	DRUGLESS HEALTH CARE (INDIA) LIMITED CN	Director	01-09-10	18-12-09	-	Active	NO

Name :

Mrs. Vaidehi Kanoria

Designation :

Director

Address :

A – 45, Vasant Marg, Vasant Vihar, New Delhi – 110 048

Date of Birth/Age :

27.10.1983

Date of Appointment :

23.07.2002

DIN No.:

00013028

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	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	01-11-07	23-07-02	-	Active	NO
2	U27100MH2004PTC147855	ASHA ALLOYS PRIVATE LIMITED	Director	05-08-04	05-08-04	21-03-09	Active	NO
3	U24110DL2009PTC187523	MINERVA FLAVOURS AND FRAGRANCE PRIVATE LIMITED	Director	29-10-10	29-10-10	24-03-11	Active	NO

Name :

Mr. Vinod Kumar Aggarwal

Designation :

Director

Address :

3/77, Punjabi Bagh, New Delhi – 110026, India

Date of Birth/Age :

19.10.1961

Date of Appointment :

06.11.2009

DIN No.:

00375239

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	U28999DL1971PLC005782	STEEL AND METAL TUBES (INDIA) LTD	Whole-time director	01-07-07	21-04-80	-	Active	NO
2	U27101DL1998PTC097100	PROTON INDIA PRIVATE LIMITED	Director	16-11-98	16-11-98	-	Active	NO
3	U51398MH1987PTC184943	D GAUTAM INTERNATIONAL PRIVATE LIMITED	Director	27-06-05	27-06-05	05-12-07	Active	NO
4	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Director	03-09-10	06-11-09	-	Active	NO
5	U74899DL1985PTC022821	SIDHI VINAYAK TUBES PRIVATE LIMITED	Director	28-09-10	28-12-09	-	Active	NO
6	U27101UP1970PLC020637	JINDAL PIPES LIMITED	Director	26-09-11	27-06-11	-	Active	NO

Name :

Mr. Pragun Jindal Khaitan

Designation :

Director

Address :

Sterling Apartments, Plot no. 14/B, 7^th Floor, 38G Deshmukh Marg, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

09.08.1992

Date of Appointment :

09.08.2010

DIN No.:

03181533

Name :

Mr. Bajrang Dass Garg

Designation :

Whole-time director

Address :

Jindal Nagar, Tumkur Road, Bangalore-560 073, Karnataka

Date of Birth/Age :

24.09.1955

Date of Appointment :

09.08.2011

DIN No.:

00008059

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	U08022KA2002NPL030879	PRAGUN JINDAL EDUCATIONAL ORGANISATION	Director	12-08-02	12-08-02	-	Active	NO
2	U27104KA2003PLC031567	DRUGLESS HEALTH CARE (INDIA) LIMITED CN	Director	09-08-06	09-08-06	-	Active	NO
3	U14200KA2008PLC045891	DAKSHIN MINES AND MINERALS LIMITED	Director	02-04-08	02-04-08	31-12-10	Active	NO
4	U28121MH2011PLC219872	JINDAL ALUMINIUM ROLLING LIMITED	Director	18-07-11	18-07-11	-	Active	NO
5	U27203KA1970PLC002806	JINDAL ALUMINIUM LIMITED.	Whole-time director	05-09-11	09-08-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. P Ashok Rao
Designation :	Secretary
Address :	Jindal Nagar, Tumkur Road, Bangalore-560 073, Karnataka
Date of Birth/Age :	16.03.1968
Date of Appointment :	02.05.2011
Pan No.:	ADGPA2725H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 05.09.2011

Names of Shareholders	No. of Shares
Dr.S.R Jindal	282875
S Jindal (HUF)	142300
Mr.Pragun Jindal Khaitan	219825
D.P Jindal	500
Sajjan Jindal	500
Jamnadevi Jindal	67150
S.R.Jindal Family Trust	329000
S J Jindal Education Trust	9870
Karnataka Charitable Trust	35500
K R Raghunath	6700
B D Garg	9650
H.S.Bansal	15000
F C Garg	1300
S.C.Agarwal	2200
Ravinder Kumar Jindal	5000
Tara Chand Agarwal	2100
Manoj Kumar Bansal	4200
Saroj Agarwal	4200
Krishna Devi	4400
Vijay Singh Jain	2600
Ashok Goyal	1100
Satveer Singh Garg	2100
M K Bansal	1100
G. James	1050
S.R Mittal	2100
Dinesh Srivastav	1100
Surender Kumar Agarwal	3200
S.K Jain	2300
Rattan Agarwal	2100
Dhiraj Singh	4200
Lalit Patni	1050
S.K.Mittal	1050
Amarjit Singh	1050
Narendra Agarwal	1050
G. P Anand	1050
Vaidehi Kanoria	31500
Sonakshi Agarwal	31500
Jindal Hospital Society	280730
Pragun Jindal Educational Organisation	530430
Vinod Kumar Aggarwal	2000
K.V.Hebbar	1000
R.B.Garg	1000
Pradeep Kumar	3000
Vijay Kumar Agarwal	1000
Kamal Singhal	1000
Rajesh H Bansal	3000
Sitaram Jindal Foundation	45050
TOTAL	2101680

Equity Share Break up (Percentage of Total Equity)

As on 05.09.2011

Category	Percentage
Bodies corporate	25.24
Directors or relatives of Directors	39.26
Other top fifty shareholders	35.50
Total	100.00

BUSINESS DETAILS

Line of Business :

manufacturer of Aluminium Extruded Profiles

Products :

Ø Bars and Tubes

Ø Angles, Channels and Tees

Ø Tower Bolts, Hinges, Latch, Caldron, Grill Frames, Ladders

Ø Curtain Wall, Hand Rails, Handles, Venetian Blind and Drapery

Ø Exhibition, G-Channel, Table Corner, Glass Sections

Ø Architectural and Structural

Ø Bus Body and Moulding

Ø Heat Sink, Airgrill

Ø Industrial and General

Item Code No.	Product Description
7604	Aluminum Extruded Profiles
7608	Aluminum Extruded Pipes and Tubes

GENERAL INFORMATION

No. of Employees :

300 (Approximately)

Bankers :

· State Bank of India, Overseas Branch, # 65, St. Mark’s Road, Bangalore – 560 001, Karnataka, India

· Industrial Development Bank of India Limited, IDBI Towers 58 Mission Road, Bangalore - 560 027

· Punjab National Bank, Industrial Finance Branch, Bangalore - 560 001, Karnataka

· New Bank of India, Bangalore - 560 009, Karnataka

· State Bank of India, Overseas Branch, 87, Almas Centre, M G Road, Bangalore - 560 001, Karnataka

· Canara Bank, International Division, Shankaranarayana Building, M G Road, Bangalore - 560 001, Karnataka

· Allahabad Bank, Bangalore - 560 009, Karnataka

· Bank of India, Mission Road, Bangalore - 560 027, Karnataka

· Canara Bank, Industrial Finance Branch, No. 83 Richmond Road, Bangalore - 560 025, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working capital loans banks secured	299.700	207.200
Total	299.700	207.200
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans directors unsecured	18.900	45.900
Fixed deposits unsecured	54.600	36.500
Other debt unsecured	2.500	0.000
Total	76.000	82.400

Banking Relations :	--
Auditors :
Name :	S V Surana and Company Chartered Accountants
Address :	4705, 7^th Floor, High Point IV, 45 Palace Road, Bangalore – 560 001, Karnataka
Tel. No.:	91-80-22260240 / 22262609
PAN.:	ABIPS1056R
Joint Venture:	Al Thuraya Minning LLC

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2490000	Equity Shares	Rs.100/- each	Rs.249.000 Millions
210000	Preference Share	Rs.100/- each	Rs.21.000 Millions
	TOTAL		Rs.270.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2101680	Equity Shares	Rs.100/- each	Rs.210.200 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		210.200	210.200	210.168
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		7655.900	7761.000	8069.340
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7866.100	7971.200	8279.508
LOAN FUNDS
1] Secured Loans		299.700	207.200	473.815
2] Unsecured Loans		76.000	82.400	41.000
TOTAL BORROWING		375.700	289.600	514.815
DEFERRED TAX LIABILITIES		45.200	44.900	54.100
TOTAL		8287.000	8305.700	8848.423
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5464.500	6201.700	7177.349
Capital work-in-progress		35.100	0.000	0.000
INVESTMENT		1444.800	1305.900	606.211
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	345.300	219.900	155.048
	Sundry Debtors	514.300	459.500	342.921
	Cash & Bank Balances	599.200	105.900	618.635
	Other Current Assets	36.300	16.000	3.521
	Loans & Advances	406.300	447.500	1012.852
Total Current Assets		1901.400	1248.800	2132.977
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	86.500	70.500	54.255
	Other Current Liabilities	400.200	343.500	343.631
	Provisions	72.400	39.900	670.228
Total Current Liabilities		559.100	453.900	1068.114
Net Current Assets		1342.300	794.900	1064.863
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
Other Current Assets		0.300	3.200	0.000
TOTAL		8287.000	8305.700	8848.423

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	7221.000	6016.700	7267.262
		Other Income	117.000	243.200	173.166
		TOTAL (A)	7338.000	6259.900	7440.428
Less	EXPENSES
		Consumption materials changes inventories	5157.200	4183.100	5655.500
		Manufacturing service costs	341.100	235.200
		Contract cost	4.000	3.800
		Employee related expenses	292.100	229.100
		Administrative selling other expenses	363.500	378.200
		Research Development Research	2.600	2.100
‘		TOTAL (B)	6160.500	5031.500	5655.500
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1177.500	1228.400	1784.928
Less	FINANCIAL EXPENSES (D)		52.600	181.600	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1124.900	1046.800	1784.928
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	0.000	1351.193
	PROFIT BEFORE TAX (E-F) (G)		1124.900	1046.800	433.735
Less	TAX (H)		0.000	0.000	198.600
	PROFIT AFTER TAX (G-I) (I)		1124.900	1046.800	235.135
	Earnings Per Share (Rs.)		323.00	305.00	111.88

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	15.33	16.72	3.16
Net Profit Margin (PBT/Sales)