MIRA INFORM REPORT

BUSINESS INFORMATION REPORT

1. Summary Information

		Country	INDIA
Company Name	JINDAL INDIA LIMITED	Principal Name 1	Mr. Punit Jatia
Status	GOOD	Principal Name 2	Mr Bimal Kumar Saraf
		Registration #	21-092393
Street Address	2/1, Ahmed Mamuji Street, PS Bally, Howrah – 711 204, West Bengal
Established Date	01.04.1991	SIC Code	--
Telephone#	91-33-26556298	Business Style 1	MANUFACTURERS
Fax #	91-33-26555186	Business Style 2	--
Homepage	www.jindalindia.com	Product Name 1	ERW PRECISION TUBES
# of employees	700 (APPROXIMATELY)	Product Name 2	COLD ROLLED STRIPS
Paid up capital	Rs.179,080,000/-	Product Name 3	COLD ROLLED SHEETS
Shareholders	Venture Capital-77.32% Directors or relatives of Directors- 22.68%	Banking	PUNJAB NATIONAL BANK
Public Limited Corp.	Yes	Business Period	22 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	A (59)
Related Company
Relation	Country	Company Name	CEO
Related Parties	India	Jindal India Power Tech Limited , India	--
Note

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1889,308,000	Current Liabilities	835,558,000
Inventories	1976,884,000	Long-term Liabilities	2871,260,000
Fixed Assets	1243,418,000	Other Liabilities	13,005,000
Deferred Assets	29,141,000	Total Liabilities	3719,823,000
Invest& other Assets	449,758,000	Retained Earnings	1686,960,000
	0	Net Worth	1868,686,000
Total Assets	5588,509,000	Total Liab. & Equity	5588,509.000
Total Assets (Previous Year)	5120,890,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	15534,434,000	Net Profit	258,982,000
Sales(Previous yr)	12453,777,000	Net Profit(Prev.yr)	266,486,000

MIRA INFORM REPORT

Report Date :

01.04.2013

IDENTIFICATION DETAILS

Name :	JINDAL INDIA LIMITED

Formerly Known As :	JINDAL (INDIA) PRIVATE LIMITED (w.e.f.19.02.1982)

Registered Office :	2/1, Ahmed Mamuji Street, PS Bally, Howrah – 711 204, West Bengal

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	01.04.1991

Com. Reg. No.:	21-092393

Capital Investment / Paid-up Capital :	Rs 179.080 Millions

CIN No.: [Company Identification No.]	U51109WB1991PLC092393

PAN No.: [Permanent Account No.]	AAACJ2054J

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturers of ERW/HFIW Black and Galvanized Steel Piles and Tubes, Cold Rolled and Galvanized Plain and Corrugated Sheets.

No. of Employees :	700 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (59)

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 7000000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Exit

Comments :	Subject is a well established and reputed company having a fine track record. 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 normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	Crisil
Rating	Long term Rating: BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	30.08.2012

Rating Agency Name	Crisil
Rating	Short term Rating: A2
Rating Explanation	Strong degree of safety and low credit risk
Date	30.08.2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	2/1, Ahmed Mamuji Street, PS Bally, Howrah – 711 204, West Bengal, India
Tel. No.:	91-33-26556298/ 6399/ 26555490/ 0701
Fax No.:	91-33-26555186
E-Mail :	jillil@cal2.vsnl.net.in jil@cal2.vsnl.net.in
Website :	www.jindalindia.com
Area :	10000 sq ft
Location :	Owned

Corporate Office :	LMJ Chamber, 2^nd Floor, 15C, Hemanta Basu Sarani, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-22481160/ 1162/ 22482266
Fax No.:	91-33-22481059
Location :	Leased

Factory 1 :	Belur Unit 4, Dharamtalla Road, Belurmath, Howrah – 711 202, West Bengal, India
Tel. No.:	91-33-26542606/ 2299
Fax No.:	91-33-26541770
Area :	14000 sq ft

Factory 2 :	Jangalpur Unit National Highway No.6, Village – Jangalpur, P.O. Andul, P.S. Sankrail, District Howrah – 711 302 ,West Bengal, India
Tel. No.:	91-33-26696319/ 0727/ 26691800-04
Fax No.:	91-33-26690356

Factory 3 :	Ghusuri Unit 107/2, Jay Bibi Lane, Ghusuri, Howrah – 711 107, West Bengal, India
Tel. No.:	91-33-26555889/ 3734
Fax No.:	91-33-26553028

Branches Office:	6-D, Gopala Towers, 25, Rajendra Place, New Delhi – 110 008, India
Tel. No.:	91-11-45552670-75
Fax No.:	91-11-45552676

DIRECTORS

As on : 27.09.2012

Name :

Mr. Punit Jatia

Designation :

Whole-time Director

Address :

25 Raja Santosh Road, Alipore, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

14.01.1964

Date of Appointment :

01.03.2012

DIN No.:

00082221

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Whole-time director	01/03/2012	01/03/1997	-	Active	NO
2	U01132AS1977PLC001713	BAZALONI GROUP LIMITED	Director	29/10/1998	29/10/1998	17/11/2011	Active	NO
3	U45202WB1995PLC069086	SAMBHU CONSTRUCTION LIMITED	Director	06/05/2010	06/05/2010	01/11/2011	Active	NO

Name :

Mr Bimal Kumar Saraf

Designation :

Whole-time Director

Address :

66, G.T Road, Lilvah, Howrah-711204, West Bengal, India

Date of Birth/Age :

25.04.1967

Date of Appointment :

27.09.2012

DIN No.:

00406233

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U01409UP1980PTC033714	RISHI TRADING CO LTD	Managing director	27/12/2011	15/02/1994	13/03/2013	Active	NO
2	U15491WB1994PTC063614	DHANODAY NIRYAT PVT. LTD.	Director	09/08/1994	09/08/1994	-	Active	NO
3	U01132AS1977PLC001713	BAZALONI GROUP LIMITED	Director	01/07/2009	01/07/2009	28/01/2013	Active	NO
4	U51909WB2005PTC103345	BINDAL VANIJYA PRIVATE LIMITED	Director	09/04/2010	09/04/2010	28/01/2013	Active	NO
5	U51909WB1981PLC033450	SOYUZ TRADING CO LTD	Director	28/09/2012	26/12/2011	13/03/2013	Active	NO
6	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Whole-time director	27/09/2012	04/06/2012	28/01/2013	Active	NO

Name :

Mr. Bhavi Chand Jindal

Designation :

Chairman cum Managing Director

Address :

20C, Belvedre Road, Alipore, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

15.07.1926

Date of Appointment :

01.08.2008

DIN No.:

00426886

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Managing director	01/08/2008	01/04/1991	-	Active	NO

Name :

Mr Ayush Jatia

Designation :

Whole-time Director

Address :

25, Raja Santosh Road, Alipore, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

26.02.1986

Date of Appointment :

24.09.2008

DIN No.:

00557505

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65993WB1923PTC004723	PRAISE CO PVT LTD	Director	31/12/2005	31/12/2005	-	Active	NO
2	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Whole-time director	24/09/2008	16/04/2008	-	Active	NO

Name :

Mr Anubhav Poddar

Designation :

Director

Address :

26, Shareshfare Sarani, Kolkata-700017, West Bengal, India

Date of Birth/Age :

09.12.1981

Date of Appointment :

27.09.2012

DIN No.:

03069096

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U70200WB2010PTC145952	AGRI INFRASTRUCTURE PRIVATE LIMITED	Director	25/05/2010	25/05/2010	-	Active	NO
2	U70102WB2010PTC145905	AGRI PROPERTIES PRIVATE LIMITED	Director	25/05/2010	25/05/2010	-	Active	NO
3	U70109WB2011PTC162628	AGRI DEVELOPERS PRIVATE LIMITED	Director	16/05/2011	16/05/2011	-	Active	NO
4	U70109WB2011PTC162626	AGRI REALTY PRIVATE LIMITED	Director	16/05/2011	16/05/2011	-	Active	NO
5	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Director	27/09/2012	10/07/2012	-	Active	NO

Name :

Mrs Mukti Nath Rai

Designation :

Whole-time Director

Address :

NH-6, Vill jangalpur, Howrah-711302, West Bengal,India

Date of Birth/Age :

20.01.1973

Date of Appointment :

27.09.2012

DIN No.:

05295755

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Whole-time director	27/09/2012	04/06/2012	-	Active	NO

Name :

Mr Utkarsh Jatia

Designation :

Director

Address :

25, Raja Santosh Road, Alipore, Kolkata-700027, West Bengal,India

Date of Birth/Age :

05.11.1988

Date of Appointment :

27.09.2012

DIN No.:

05304921

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Director	27/09/2012	18/06/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr Satish Kumar garg
Designation :	Secretary
Address :	15, Saha Lane, Kolkata-700007, West Bengal, India
PAN No.:	ACVPG1074B
Date of Appointment :	01.04.2012

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on : 27.09.2012

Names of Shareholders	No. of Equity Shares
Shyam Sunder Jindal	500
Subhadra Jindal	2935
Consolidated Photo and Investment Limited, India	190000
Sunita Jatia	114435
Punit Jatia	56825
Bazaloni Group Limited, India	111000
Jindal Photo Investment Limited, India	178300
Ayush Jatia	20000
Utkarsh Jatia	20000
Penrose Mercantiles Limited, India	150000
Shyam Sunder Jindal (HUF)	400
Soyuz Trading Company Limited, India	398163
Rishi Trading Company Limited, India	125242
Bhavesh Jindal	100000
Punit jatia (HUF)	23000
Total	1490800

Names of Shareholders

No. of Preference Shares

Bazaloni Group Limited

300000

Total

300000

Equity Share Break up (Percentage of Total Equity)

As on: 27.09.2012

Category	Percentage
Venture Capital	77.32
Directors or relatives of Directors	22.68
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of ERW/HFIW Black and Galvanized Steel Piles and Tubes, Cold Rolled and Galvanized Plain and Corrugated Sheets.

Products :

Item Code No. ITC Code

730690.01

7209.30

7209.20

7211.51

7211.41

7210.19

7210.11

Product Description

ERW Precision Tubes

Cold Rolled Strips

Cold Rolled Sheets

PRODUCTION STATUS (As on 31.03.2012)

Particulars	Unit	Installed Capacity	Actual Production
M.S pipes and tubes	M.T	260000	106818531
M.S pipes and Fittings	M.T	6912	-
Steel Structurals and poles	M.T	4680	-
C.R. Strips	M.T	350000	*128457.593
G.P Coils/ Sheets and G.C. Sheets	M.T	400000	163926.275

GENERAL INFORMATION

No. of Employees :

700 (Approximately)

Bankers :

Punjab National Bank, 268/2, G.T. Road, Liluah, Howrah – 711 204, West Bengal, India

Facilities :

Secured Loans	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
Long term Secured Borrowings	37.549	101.733
Short term Secured Borrowings:	0	0
Working Capital/ Loans Repayable on Demand	2073.093	1735.187
From Banks:	750.618	1039.779
Total	2861.260	2876.699

Notes:

(A) 1. Secured by charge on land, buildings, factory sheds, plant & machinery and other fixtures of the Company situated at Jangalpur, Ghusuri and Belur (West Bengal) and also guaranteed by one of the directors of the Company. 2. Term Loan Rs. 28.453 Millions repayable in 20 equal quarterly installments commencing 31.12.2008. 3. Term Loan Rs. 9.095 Millions repayable in 20 equal quarterly installments commencing 30.09.2009.

(B) Packing Credit, FOBNLC - Rs. 608.291 Millions + Buyers Credit (Foreign Currency Loan) - Rs. 1464.801 Millions Note: 1. Secured by hypothecation of stocks, bills, domestic and foreign book debts and also collaterally secured by way of charges on fixed assets situated at Kolkata and Howrah, West Bengal and also guaranteed by one of the directors of the company. 2. Buyers credit is also secured by letter of undertakings issued by Punjab National Bank.


Banking Relations :	--

Auditors :
Name :	G. Sanyal and Company Chartered Accountants
Address :	6, Old Post Office Street, Kolkata – 700 001, West Bengal, India
PAN No.:	AAEFG5079K

Related Parties :	Bazaloni Group Limited, India Cin No.(U01132AS1977PLC001713) Consolidated Finvest and Holdings Limited, India Cin No.(L33200UP1993PLC015474) Consolidated Photo and Finvest Limited, India Cin No (U65993DL1996PLC081586) Jindal Photo Limited, India Jindal Poly Films Limited , India Cin No. (L17111UP1974PLC003979) Jindal Poly Investments Limited, India . Cin No.(U67120DL1999PLC10169) Jindal Imaging Limited, India Cin No. (U24299DL1999PLC099183) Soyuz Trading Company Limited, India Cin No. (U51909WB1981PLC033450) Rishi Trading Company Limited, India Cin No. (U01409UP1980PTC033714) Meena Devi. Jindal Medical Institute and Research Centre Gunjan Trust Universal Foils Limited , India Cin No. (U36900WB2006PLC107515) Safe Holding Private Limited, India Cin No. U65993WB1992PTC054640 Jindal India Power Tech Limited , India Cin No. (U74999UP2007PLC034310) Bindal Vanijya Private Limited, India Cin No. (U51909WB2005PTC103345) Adorable Commerce Private Limited, India Cin No. (U74900WB2010PTC141172)

CAPITAL STRUCTURE

As on : 27.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs. 100/-each	Rs. 150.000 Millions
2000000	Preference Shares	Rs 100/-each	Rs. 200.000 Millions
	Total		Rs. 350.000 Millions

Issued, Subscribed Capital :

No. of Shares	Type	Value	Amount
1490800	Equity Shares	Rs. 100/-each	Rs. 149.080 Millions
600000	Preference Shares	Rs.100/-each	Rs. 60.000 Millions
	Total		Rs- 209.080 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
1490800	Equity Shares	Rs. 100/-each	Rs. 149.080 Millions
300000	Preference Shares	Rs.100/-each	Rs. 30.000 Millions
	Total		Rs. 179.080 Millions

After 29.09.2012

Authorised Capital : Rs 352.500 Millions

Issued, Subscribed & Paid-up Capital : Rs. 181.726 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		179.080	199.080	209.080
2] Share Application Money		2.646	0.000	0.000
3] Reserves & Surplus		1686.960	1364.874	1095.740
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1868.686	1563.954	1304.820
LOAN FUNDS
1] Secured Loans		2861.260	2876.699	3287.574
2] Unsecured Loans		10.000	10.000	10.203
TOTAL BORROWING		2871.260	2886.699	3297.777
DEFERRED TAX LIABILITIES		0.000	0.000	17.484

TOTAL		4739.946	4450.653	4620.081

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		1243.418	1428.912	1618.428
Capital work-in-progress		441.247	14.182	27.422

INVESTMENT		8.511	74.161	74.161
DEFERRED TAX ASSETS		29.141	16.200	0.000
				0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1976.884	1820.634	1393.244
	Sundry Debtors	1073.093	1216.740	971.835
	Cash & Bank Balances	219.651	386.248	287.755
	Other Current Assets	5.773	4.320	0.000
	Loans & Advances	590.791	264.036	568.130
Total Current Assets		3866.192	3691.978	3220.964
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	477.278	149.504	201.697
	Other Current Liabilities	358.280	606.721	113.052
	Provisions	13.005	18.555	6.145
Total Current Liabilities		848.563	774.780	320.894
Net Current Assets		3017.629	2917.198	2900.070

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		4739.946	4450.653	4620.081

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	15534.434	12453.777	10656.447
		Other Income	128.636	85.581	138.457
		TOTAL	15663.070	12539.358	10794.904

Less	EXPENSES
		Cost of Material Consumed	12394.878	10777.404	8414.547
		Changes in Inventories	649.596	(550.455)	(250.234)
		Employees Benefits Expenses	108.002	92.350	78.073
		Other Expenses	1548.989	1328.649	568.461
		Manufacturing services costs	0.000	0.000	835.761
		TOTAL	14701.465	11647.948	9646.608

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		961.605	891.410	1148.296

Less	FINANCIAL EXPENSES		299.820	178.294	213.194

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		661.785	713.116	935.102

Less/ Add	DEPRECIATION/ AMORTISATION		277.416	322.863	358.224

Add	PRIOR PERIOD ITEMS		11.672	0.000	0.000

	PROFIT BEFORE TAX		396.041	390.253	576.878

Less	TAX		137.059	123.767	183.439

	PROFIT AFTER TAX		258.982	266.486	393.439

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		175.162	158.676	82.680

Less	APPROPRIATIONS
		Transfer to General Reserve	250.000	250.000	300.000
		Dividend	0.000	0.000	14.909
		Tax on Dividend	0.000	0.000	2.534
	BALANCE CARRIED TO THE B/S		184.144	175.162	158.676

	EARNINGS IN FOREIGN CURRENCY
		FOB value of Export	4214.364	3888.175	3751.146
		Others (Freight)	248.223	240.224	215.787
		Miscellaneous	0.000	0.176	3.667
	TOTAL EARNINGS		4462.587	4128.575	3970.600

	IMPORTS
		Raw Materials	3879.327	2882.479	2732.966
		Stores & Spares	53.010	51.838	54.693
		Capital Goods	9.497	32.598	3.089
	TOTAL IMPORTS		3941.834	2966.915	2790.748

	Earnings Per Share (Rs.)
	Basic		258.982	266.486	263.22
	Diluted		0.000	0.000	263.22

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.67	2.13	3.69

Net Profit Margin (PBT/Sales)	(%)	2.53	3.11	5.34

Return on Total Assets (PBT/Total Assets}	(%)	7.75	7.62	11.92

Return on Investment (ROI) (PBT/Networth)		0.21	0.25	0.44

Debt Equity Ratio (Total Debt /Networth)		1.54	1.85	2.53

Current Ratio (Current Asset/Current Liability)		4.55	4.76	10.04

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	---------------------
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	-----------------------
26]	Buyer visit details	-----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS:

Case Status : Pending

Status of INCOME TAX APPEAL (ITA) 128 OF 2012

COMMISIONER OF INCOME TAX,KOLKATA-I, K Vs. M/S. JINDAL

(INDIA) LTD.

Pet’s Adv. : MADHULIKA GAUTAM

Res’s Adv :

Court No : 1 Last Listed On : Tuesday, November20,2012

Category : INCOME TAX : REVENUE

CONNECTED APPLICATION (S)	CONNECTED MATTER (S)
No Connected Application.	No Connected Cases.

Case Updated on : Wednesday, December 05, 2012

RESULTS OF OPERATIONS:

The company had achieved a satisfactory growth in overall operations in spite of tough market scenario, stiff competition, economy slowdown and unprecedented exchange rate fluctuations.

The Company achieved a record turnover of Rs. 15663.070 Millions registering a strong growth of 25% approx. over the last year.

The year however, was marked by serious challenges on the input cost. The increase in cost of raw material, power and fuel etc. had an adverse effect on the profitability. The company however able to mitigate the effect of the same by increasing production and turnover. The company had reported profit before tax of Rs. 396.041 Millions for the current year as against Rs. 390.253 Millions in the previous year and profit after tax of Rs. 258.983 Millions for the current year as against Rs. 266.486 Millions in the previous year.

AMALGAMATION:

Pursuant to the order dated 6 August, 2012 of the Hon?ble High Court at Kolkata, Universal Foils Limited (UFL) has been amalgamated with the Company with effect from 1 April, 2011 on a certified copy of the said High Court Order being filed with Registrar of Companies on 22.08.2012.

As per the Scheme of Amalgamation 26465 Equity Shares of Rs. 100/- each fully paid up of the Company will be allotted without applications to the shareholders of UFL in the exchange ratio 1(One) Equity Share of Rs. 100/- each in the Company credited as fully paid up for every 100 (One Hundred) Equity Shares of Rs. 10/- each fully paid up held by share holders of UFL.

NEW PROJECT :

The Company is also commissioning a manufacturing unit of Aluminium Foil unit with an installed capacity of 4500 MTPA. Your Directors are very much hopeful for its successful operation and healthy return.

Corporate identity number of the company

U51109WB1991PLC092393

Name of the company

JINDAL INDIA LIMITED

Address of the registered office or of the principal place of business in India of the company

2/1, Ahmed Mamuji Street, PS Bally, Howrah – 711 204, West Bengal, India

E-Mail: jillil@cal2.vsnl.net.in

This form is for

Modification of charge

Charge identification (ID) number of the charge to be modified

90245046

Type of charge

Immovable Property

Book Debts

Movable Property

Particular of charge holder

Name :	Punjab National Bank
Address :	268/2, G.T. Road, Liluah, Howrah – 711 204, West Bengal, India
Email :	Bo0300@pnb.co.in

Nature of instrument creating charge

1. Sanction Letter for adopting letter of Cash Credit dated 21-11-2012

2. Agreement dated 21-11-2012

3. Hypothecation of Plant and Machinery dated 21-11-2012

4. Hypothecation of Current Assets dated 21-11-2012

5. Hypothecation of Goods and Book Debts dated 21-11-2012

6.Agreement of Guarantee dated 21-11-2012

7.Consent letter from guarantor to PNB

8. Seven letters of continuity evidencing extension of Charge dated 21-11-2012

9.Extension of Equity Mortgage

10. Letter to PNB by B.C.Jindal and others

Date of instrument Creating the charge

21.11.2012

Amount secured by the charge

Rs.8.800 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

BR+2%+2% i.e.14.50% at present with monthly rest or as amended by H.O. from time to time or as amended from time to time.

Terms of Repaayment:

Repayable in quarterly installments and interest is payable as and when debited/due.

Margin:

25%

Extent and Operation of the charge:

Charge on the entire assets of M/s Jindal India Limited created in favour of Punjab National Bank

Others:

2ONE

Particulars of the property charged

1) Stocks of all sorts of Raw Materials, Pipes and Tubes, old structures, all sorts of finished and semi finished goods manufactured by Jindal India Limited, Liluah (Howrah) lying at their premises and godown

2) Book Debts including export receivables.

3) Spares and Components.

4) R/R Bills of Lading covering consignment of Raw Materials

5) Raw Materials of Finished Goods

6) Govt., sem-govt. and other parties supplies Bills, and

7) Block of Assets of the Company.

Date of instrument modifying the charge

12.11.2012

Particulars of the present modification

By the aforsaid modification the overall limit has been enhanced to Rs.808.000 Millions by way of various credit facilities.

UNSECURED LOANS:

Particulars

31.03.2012

Rs in Millions

31.03.2011

Rs in Millions

Long term Unsecured Loans

10.000

Total

10.000

FIXED ASSETS

· Freehold Land

· Leasehold Land

· Buildings

· Plant and Machinery

· Electric Equipments and Others

· Computers

· Furniture and Fittings

· Live Stock

· Vehicles

· Computer Software

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 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 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. 54.38
UK Pound	1	Rs. 82.32
Euro	1	Rs. 69.54

INFORMATION DETAILS


Report Prepared by :	NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		59

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.

BUSINESS INFORMATION REPORT

MIRA INFORM REPORT

1976.884

1393.244

1073.093

971.835

219.651

287.755

5.773

0.000

590.791

568.130

3866.192

477.278

201.697

358.280

113.052

13.005

6.145

848.563

320.894

3017.629

2900.070

1.67

2.53

7.75

0.21

1.54

4.55

Unit