MIRA INFORM REPORT

Report Date :

12.03.2013

IDENTIFICATION DETAILS

Name :	KYORI OREMIN LIMITED
Registered Office :	4^th Floor, “My Home Jupally”, Green Lands, Ameerpet, Hyderabad – 500 016, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.09.2007
Com. Reg. No.:	01-055522
Capital Investment/ Paid-up Capital:	Rs.130.000 Millions
CIN No.: [Company Identification No.]	U13209AP2007PLC055522
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Trader and Importer of Coal.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1460000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct 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	A1	A1

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	CARE
Rating	A3 [Short Term Bank Facilities]
Rating Explanation	Moderate degree of safety it carry higher credit risk.
Date	24.12.2012

Rating Agency Name	CARE
Rating	(BBB –) [Long Term Bank Facilities]
Rating Explanation	Moderate degree of safety it carry moderate credit risk.
Date	24.12.2012

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/Corporate Office :	4^th Floor, “My Home Jupally”, Green Lands, Ameerpet, Hyderabad – 500 016, Andhra Pradesh, India
Tel. No.:	91-40-30582324
Fax No.:	91-40-3058 4466
E-Mail :	finance@kyori.in hyd.sudheer@gmail.com vijay.patel@kyori.in info@kyori.in

DIRECTORS

AS ON 30.06.2012

Name :

Ishoo Narang

Designation :

Managing Director

Address :

133, Sterling Parade View, Jyothi Cly Aoc Centre, Secunderabad – 500 009, Andhra Pradesh, India

Date of Birth/Age :

20.09.1970

Date of Appointment :

06.10.2007

Din No.:

00459544

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	L24134AP1992PLC014419	PANKAJ POLYMERS LIMITED	Director	31/08/1998	31/08/1998	-	Active	NO
2	U13209AP1998PTC030819	IMERYS CERAMICS (INDIA) PRIVATE LIMITED	Managing director	31/12/1998	31/12/1998	06/06/2007	Active	NO
3	U72200KA2006PTC040372	HYDERABAD KNOWLEDGE PARK PRIVATE LIMITED	Director	31/08/2006	31/08/2006	-	Active	NO
4	U15511DL2005PTC142031	MOUNT VILLE BEVERAGES PRIVATE LIMITED	Director	02/03/2007	02/03/2007	-	Active	NO
5	U13100AP2007PLC054857	INDIA OREMIN LIMITED	Director	20/07/2007	20/07/2007	-	Active	NO
6	U13209AP2007PLC055522	KYORI OREMIN LIMITED	Managing director	01/02/2011	14/09/2007	-	Active	NO
7	U40300AP2010PTC071359	KYORI POWER AND INFRA PRIVATE LIMITED	Director	24/11/2010	24/11/2010	-	Active	NO
8	U25200AP2011PLC072532	PANKAJ POLYPACK LIMITED	Additional director	08/02/2011	08/02/2011	07/01/2012	Active	NO

Name :

Mr. Chandulal Patel

Designation :

Director

Address :

202 Pancha Ratna Apartments, Tilak Road, Hyderabad – 500 001, Andhra Pradesh, India

Date of Birth/Age :

21.03.1967

Date of Appointment :

14.09.2007

Din No.:

00459484

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	U13209AP1998PTC030819	IMERYS CERAMICS (INDIA) PRIVATE LIMITED	Director	31/12/1998	31/12/1998	06/06/2007	Active	NO
2	U52334AP2001PTC036869	JUMBO INDIA PRIVATE LIMITED	Director	12/06/2001	12/06/2001	23/03/2008	Active	YES
3	U13100AP2007PLC054857	INDIA OREMIN LIMITED	Director	20/07/2007	20/07/2007	-	Active	NO
4	U13209AP2007PLC055522	KYORI OREMIN LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
5	U40300AP2010PTC071359	KYORI POWER AND INFRA PRIVATE LIMITED	Director	24/11/2010	24/11/2010	-	Active	NO

Name :

Mr. Mitesh Kothari

Designation :

Director

Address :

7/25, Tilak Naagr, Kanpur – 208002, Uttar Pradesh, India

Date of Birth/Age :

26.08.1976

Date of Appointment :

16.05.2012

Din No.:

00089076

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	U24241UP1988PLC009877	KOTHARI DETERGENTS LIMITED	Director	30/07/1999	30/07/1999	-	Active	NO
2	U16006UP1986PTC008335	EKTA FLAVOURS PRIVATE LIMITED	Director	30/07/1999	30/07/1999	-	Active	NO
3	U74899DL1989PTC034736	AMAN OVERSEAS PRIVATE LIMITED	Director	01/01/2001	01/01/2001	-	Active	NO
4	U67120MH2000PTC128413	DHAM SECURITIES PRIVATE LIMITED	Director	28/08/2001	28/08/2001	-	Active	NO
5	L16008UP1983PLC006254	KOTHARI PRODUCTS LIMITED.	Whole-time director	29/05/2010	01/10/2002	-	Active	NO
6	U70100MH2003PLC138914	SUKHDHAM CONSTRUCTIONS AND DEVELOPERS LIMITED	Director	29/01/2003	29/01/2003	-	Active	NO
7	U72200MH2005PTC152154	DK WEB-TECH PRIVATE LIMITED	Director	23/03/2005	23/03/2005	-	Active	NO
8	U72200MH2005PTC152153	MK WEB-TECH PRIVATE LIMITED	Director	23/03/2005	23/03/2005	01/12/2010	Active	NO
9	U67120UP2005PTC030000	DMK HOLDINGS PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Active	NO
10	U70101WB2006PTC110187	BHOJESHWAR REALTORS PRIVATE LIMITED	Director	02/09/2006	02/09/2006	04/09/2006	Active	NO
11	U70109WB2006PTC111280	SHUBHADRA REALTORS PRIVATE LIMITED	Director	20/09/2006	20/09/2006	22/09/2006	Active	NO
12	U45200WB2006PTC111454	SANKHYA REALTORS PRIVATE LIMITED	Director	24/01/2007	24/01/2007	29/01/2007	Active	NO
13	U45102MH1994PTC084200	SHILPI PROPERTY DEVELOPERS (BOMBAY) PRIVATE LIMITED	Director	11/02/2007	11/02/2007	-	Active	NO
14	U45200MH1994PTC083699	AASTITVA BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	11/02/2007	11/02/2007	-	Active	NO
15	U45200MH1994PTC083961	AANGAN PROPERTIES PRIVATE LIMITED	Director	11/02/2007	11/02/2007	-	Active	NO
16	U65922UP1989PTC010884	AMAN LEASING AND HOUSING FINANCE PRIVATE LIMITED	Director	17/03/2007	17/03/2007	-	Active	NO
17	U16009UP2007PLC033152	PAN PARAG INDIA LIMITED	Whole-time director	01/05/2010	13/04/2007	-	Active	NO
18	U45200UP2008PTC034868	IMK DEVELOPERS PRIVATE LIMITED	Director	20/03/2008	20/03/2008	-	Active	NO
19	U74900UP2008PTC035118	KPL EXPORTS PRIVATE LIMITED	Director	30/04/2008	30/04/2008	-	Active	NO
20	U55101WB2005PTC106405	SPPL HOTELS PVT LTD	Director	20/05/2008	20/05/2008	-	Active	NO
21	U72200MH2004PTC149451	ARTI WEB-DEVELOPERS PRIVATE LIMITED	Director	30/09/2008	14/06/2008	-	Active	NO
22	U74140WB1982PTC034610	SALARPURIA CONSULTANTS PVT LTD	Director	26/07/2008	26/07/2008	-	Active	NO
23	U55101MH2008PTC185511	IMK HOTELS PRIVATE LIMITED	Director	03/02/2009	03/02/2009	-	Active	NO
24	U45400WB2007PTC117247	SAPHIRE HOUSING PRIVATE LIMITED	Director	03/03/2009	03/03/2009	-	Active	NO
25	U70200WB2007PTC120641	AMBAKESHWAR REALTORS PRIVATE LIMITED	Director	25/03/2009	25/03/2009	-	Active	NO
26	U74999MH1950PTC008285	PARMY MANUFACTORY PRIVATE LIMITED	Director	30/03/2009	30/03/2009	-	Active	NO
27	U65993MH2006PTC163559	MK PROFINLEASE PRIVATE LIMITED	Director	30/03/2009	30/03/2009	-	Active	NO
28	U65922MH2004PTC144907	H AND M HOUSING FINANCE AND LEASING PRIVATE LIMITED	Director	30/03/2009	30/03/2009	-	Active	NO
29	U45202WB2001PTC093327	CAMELIA GRIHA NIRMAN PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO
30	U70101WB1996PTC103286	SUPRAJA PROPERTIES PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO
31	U72900MH2005PTC153561	TITANIA TECHNOLOGY PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO
32	U55101MH2008PTC186732	IMK HOSPITALITY PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO
33	U45200MH2008PTC182960	IMK Agro-Tech Properties Private Limited	Director	27/04/2009	27/04/2009	-	Active	NO
34	U45200MH2008PTC182958	IMK AGRO DEVELOPERS PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO
35	U45201KA1993PTC014334	YOGA BUILDERS PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO
36	U45203UP1988PTC009813	LOHEWALA CONSTRUCTIONS PRIVATE LIMITED	Director	27/04/2009	27/04/2009	-	Active	NO
37	U45201WB2005PTC102968	VAISHNODEVI REALTORS PRIVATE LIMITED	Director	29/04/2009	29/04/2009	-	Active	NO
38	U45201WB2005PTC101060	MONOTYPE GRIHA NIRMAN PRIVATE LIMITED	Director	29/04/2009	29/04/2009	-	Active	NO
39	U45201WB2003PTC097318	SEQUENCE PROPERTIES PRIVATE LIMITED	Director	13/05/2009	13/05/2009	-	Active	NO
40	U45201WB2004PTC100345	VENKATESH GRIHA NIRMAN PRIVATE LIMITED	Director	13/05/2009	13/05/2009	-	Active	NO
41	U70102MH2001PTC133564	SCAFFOLD PROPERTIES PRIVATE LIMITED	Director	15/05/2009	15/05/2009	-	Active	NO
42	U70100MH2002PTC135132	TOWNSHIP REAL ESTATE DEVELOPERS (INDIA) PRIVATE LIMITED	Director	15/05/2009	15/05/2009	-	Active	NO
43	U51432MH2000PTC130107	BLUEBERRY TRADING COMPANY PRIVATE LIMITED	Director	15/05/2009	15/05/2009	-	Active	NO
44	U45202MH2009PTC193561	MARGO PROPERTIES PRIVATE LIMITED	Director	20/02/2010	20/02/2010	-	Active	NO
45	U45202MH2009PTC193552	ELVIS PROPERTIES PRIVATE LIMITED	Director	20/02/2010	20/02/2010	-	Active	NO
46	U45202MH2009PTC193554	FORCAS PROPERTIES PRIVATE LIMITED	Director	20/02/2010	20/02/2010	-	Active	NO
47	U45101UP2005PTC030944	MSR PROPERTIES PRIVATE LIMITED	Director	06/03/2010	06/03/2010	-	Active	NO
48	U45101KA1995PTC017669	SALARPURIA PROFIN PRIVATE LIMITED	Director	06/03/2010	06/03/2010	-	Active	NO
49	U45200MH2004PTC146419	ARTI PROPERTIES PRIVATE LIMITED	Director	25/05/2010	25/05/2010	-	Active	NO
50	U45400WB2006PTC108572	SAVITRIMATA REALTORS PVT LTD	Director	21/09/2010	21/09/2010	-	Active	NO
51	U70102KA2007PTC044240	SATTVA REALTORS PRIVATE LIMITED	Director	26/02/2011	26/02/2011	-	Active	NO
52	U55100MH2007PLC173733	WARASGAON LAKE VIEW HOTELS LIMITED	Director	02/06/2011	10/03/2011	-	Active	NO
53	U45202MH2009PTC192921	SPICA PROPERTIES PRIVATE LIMITED	Additional director	16/08/2011	16/08/2011	-	Active	NO
54	U70100MH1999PTC123330	RIVERVIEW LAND DEVELOPERS PRIVATE LIMITED	Director	29/09/2011	16/08/2011	-	Active	NO
55	U72900GJ2007PTC052323	PANDEEP TECHNOLOGIES AND INFRASTRUCTURE PRIVATE LIMITED	Additional director	05/10/2011	05/10/2011	-	Active	NO
56	U45200MH2003PTC142869	BKC PROPERTIES PRIVATE LIMITED	Director	11/10/2011	11/10/2011	-	Active	NO
57	U45400MH2011PTC219443	BLACKPLINTH REALTORS PRIVATE LIMITED	Director	16/01/2012	16/01/2012	-	Active	NO
58	U51420PN2005PLC021685	MASSCORP LIMITED	Nominee director	15/05/2012	15/05/2012	-	Active	NO
59	U13209AP2007PLC055522	KYORI OREMIN LIMITED	Nominee director	16/05/2012	16/05/2012	-	Active	NO

Name :

Mr. Rudraraju Srinivas Shah

Designation :

Director

Address :

12938, Cedar, Glen Vlane, Herndon 20171

Date of Birth/Age :

08.09.1969

Date of Appointment :

14.09.2007

Din No.:

00314352

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	U72200AP1999PTC032059	SOFTALIA TELE SERVIES PRIVATE LIMITED	Managing director	08/07/1999	08/07/1999	28/12/2009	Strike off	NO
2	U26914AP2005PLC048333	RHI CLASIL LIMITED	Director	07/12/2005	07/12/2005	-	Active	NO
3	U55204AP2007PTC053997	DINDI PALM RESORTS PRIVATE LIMITED	Director	26/09/2008	15/05/2007	-	Active	NO
4	U13100AP2007PLC054857	INDIA OREMIN LIMITED	Director	20/07/2007	20/07/2007	-	Active	NO
5	U14210AP2007PTC054897	MINEX RESOURCES PRIVATE LIMITED	Director	25/07/2007	25/07/2007	-	Active	NO
6	U13209AP2007PLC055522	KYORI OREMIN LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
7	U55101AP2010PTC067090	DINDI HOLIDAYS PRIVATE LIMITED	Director	19/02/2010	19/02/2010	-	Active	NO
8	U40300AP2010PTC071359	KYORI POWER AND INFRA PRIVATE LIMITED	Director	24/11/2010	24/11/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Krishnaiya
Designation :	Vice President
Mobile No.:	91-9849301657

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.06.2012

Names of Shareholders	No. of Shares
Ishoo Narang	5141600
Chandulal Patel	3266500
Rudraraju Srinivas Shah	5141500
Yunus Zia	2450000
Monika Narang	100
V S Narang	100
Vinod Kumar	100
Vijay Patel	100
TOTAL	16000000

AS ON 30.06.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	84.69
Other top fifty shareholders	15.31
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Trader and Importer of Coal.

Products :

ITC CODE NUMBER	PRODUCT DESCRIPTION
10	Coal

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Central Bank of India Limited, Chandermukhi, Nariman Point, Mumbai – 400021, Maharashtra, India

· ICICI Bank Limited, Landmark Race, Cource Circle, Alkapuri, Baroda -390015, Gujarat, India

· State Bank of India, Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Hyderabad-500082, Andhra Pradesh, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Other loans and advances	355.297	121.650
TOTAL	355.297	121.650

Banking Relations :	--
Auditors :
Name :	Vijendra Tiwari and Company Chartered Accountants
Address :	Flat No. 103, 5-1-562/2, Flat No.103, Dwaraka Complex, Bank Street, Hyderabad, Andhra Pradesh-500095, India
Tel. No.:	91-40-24615990
Mobile No.:	91-9440404543
E-Mail :	vijendratiwari21@rediffmail.com
PAN No:	ABAPT0492Q
Associates :	· PT. KOL Resources Indonesia Address: Wisma Nusantara, 26th Floor Jl. M.H. Thamrin 59, Jakarta   10350, Indonesia Tel. No.: +62 21 392 5657 Fax No.: +62 21 392 5526 E-Mail: pt_kol@kyori.in vinod.dale@kyori.in · KOL Resources (HK) Limited, Hong Kong

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs.300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
16000000	Equity Shares	Rs.10/- each	Rs.160.000 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		160.000	130.000	120.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		205.148	77.643	22.029
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		365.148	207.643	142.029
LOAN FUNDS
1] Secured Loans		355.297	121.650	354.410
2] Unsecured Loans		0.000	0.000	6.000
TOTAL BORROWING		355.297	121.650	360.410
DEFERRED TAX LIABILITIES		0.460	0.056	0.078
TOTAL		720.905	329.349	502.517
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		21.619	5.881	5.410
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		13.832	27.880	6.731
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	583.330	41.010	112.826
	Sundry Debtors	1398.322	834.939	388.965
	Cash & Bank Balances	188.381	127.886	75.555
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	412.566	119.376	194.054
Total Current Assets		2582.599	1123.211	771.400
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1658.597	703.770	247.016
	Other Current Liabilities	187.590	92.891	4.494
	Provisions	50.958	30.962	29.514
Total Current Liabilities		1897.145	827.623	281.024
Net Current Assets		685.454	295.588	490.376
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		720.905	329.349	502.517

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	5350.920	2392.981	1328.582
		Other Income	22.243	16.055	20.563
		TOTAL (A)	5373.163	2409.036	1349.145
Less	EXPENSES
		Purchases of stock-in-trade	5407.355	2132.237
		Employee benefit expense	40.807	22.759
		Other expenses	67.223	27.820	1296.652
		Prior period items	0.109	0.061
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(542.318)	71.815
		TOTAL (B)	4973.176	2254.692	1296.652
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		399.987	154.344	52.493
Less	FINANCIAL EXPENSES (D)		203.287	66.218	27.972
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		196.700	88.126	24.521
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.171	0.759	0.643
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		195.529	87.367	23.878
Less	TAX (H)		68.024	31.753	8.495
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		127.505	55.614	15.383
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		77.643	22.029	6.646
	BALANCE CARRIED TO THE B/S		205.148	77.643	22.029
	Earnings / (Loss) Per Share (Rs.)		7.97	4.28	1.28

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.37	2.31	1.14
Net Profit Margin (PBT/Sales)	(%)	3.65	3.65	1.80
Return on Total Assets (PBT/Total Assets}	(%)	7.51	7.74	3.07
Return on Investment (ROI) (PBT/Networth)		0.54	0.42	0.17
Debt Equity Ratio (Total Debt/Networth)		0.97	0.59	2.54
Current Ratio (Current Asset/Current Liability)		1.36	1.35	2.74

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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
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	No
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	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

MANAGEMENT DISCUSSION AND ANALYSIS:

BUSINESS ENVIRONMENT:

Energy has been universally recognized as one of the most important inputs for economic growth and human development. There is a strong two-way relationship between economic development and energy consumption. On one hand, growth of an economy, with its global competitiveness, hinges on the availability of cost-effective and environmentally benign energy sources, and on the other hand, the level of economic development has been observed to be reliant on the energy demand. Planning Commission has noted that primary commercial energy demand has grown at the rate of six to eight per cent between 1981 and 2011. Commercial primary energy consumption in India has grown by about 700% n the last four decades. The current per capita commercial primary energy consumption in India is about 305 kgoe/ year which is well below that of developed countries. It is estimated that the total primary energy consumption is expected to about 412 MTOE (million tonnes oil equivalent) and 554 MTOE in the terminal years of the Tenth and Eleventh Plans, respectively (Planning Commission).

In the recent years, India’s energy consumption has been increasing at one of the fastest rates in the world due to population growth and economic development. Primary commercial energy demand grew at the rate of six per cent between 1981 and 2001 (Planning Commission). India ranks fifth in the world in terms of primary energy consumption, accounting for about 3.5% of the world commercial energy demand in the year 2003. Despite the overall increase in energy demand, per capita energy consumption in India is still very low compared to other developing countries.

India is well-endowed with both exhaustible and renewable energy resources. Coal, oil, and natural gas are the three primary commercial energy sources. India’s energy policy, till the end of the 1980s, was mainly based on availability of indigenous resources. Coal was by far the largest source of energy. India is, however, poorly endowed with oil assets and has to depend on crude imports to meet a major share of its needs (around 70 percent). India’s primary energy mix has been changing over a period of time.

Despite increasing dependency on commercial fuels, a sizeable quantum of energy requirements (40% of total energy requirement), especially in the rural household sector, is met by non-commercial and traditional energy sources, which include fuel wood, crop residue, biomass and animal waste, including human and draught animal power. The usage of such sources of energy is estimated at around 155 mtoe per annum. However, other forms of commercial energy of a much higher quality and efficiency are steadily replacing the traditional energy resources being consumed in the rural sector.

Coal is the most important and abundant fossil fuel in India and accounts for 55% of India's energy need. India's industrial heritage was built upon indigenous coal, largely mined in the eastern and the central regions of the country. Thirty per cent of commercial energy requirements are met by petroleum products, nearly 7.5 per cent by natural gas and 3.5 per cent by primary electricity.

Commercial primary energy consumption in India has grown by about 700% in the last four decades. The current per capita commercial primary energy consumption in India is about 350 kgoe/year which is well below that of developed countries. Driven by the rising population, expanding economy and a quest for improved quality of life, energy usage in India is expected to raise around 450 kgoe/year in 2010. Considering the limited reserve potentiality of petroleum and natural gas, eco-conservation restriction on hydel project and geo-political perception of nuclear power, coal will continue to occupy centre-stage of India’s energy scenario.

With hard coal reserves around 246 billion tonnes, of which 92 billion tonnes are proven, Indian coal offers a unique eco friendly fuel source to domestic energy market for the next century and beyond. Hard coal deposit spread over 27 major coalfields, are mainly confined to eastern and south central parts of the country. The lignite reserves stand at a level around 36 billion tonnes, of which 90 % occur in the southern State of Tamil Nadu.

Resource augmentation and growth in energy supply has not kept pace with increasing demand and, therefore, India continues to face serious energy shortages. This has led to increased reliance on imports to meet the energy demand.

India now ranks third amongst the coal producing countries in the world. Being the most abundant fossil fuel in India till date, it continues to be one of the most important sources for meeting the domestic energy needs and accounts for 55% of the country’s total energy supplies. The development of core infrastructure sectors like power, steel, and cement are dependent on coal. India also ranked no 6th in the world for consumption of primary energy (540 MT in 2008); its appetite for energy is growing rapidly.

Coal has been recognized as the most important source of energy for electricity generation in India. About 75% of the coal in India is consumed in the power sector. In addition, other industries like steel, cement, fertilizers, chemicals, paper and thousands of medium and small-scale industries are also dependent on coal for their process and energy requirements. In the transport sector, though direct consumption of coal by the Railways is almost negligible on account of phasing out of steam locomotives, the energy requirement for electric traction is still dependent on coal converted into electric power. All forecasts agree that coal consumption will be growing substantially, driven mostly by China and India, According to IEA these two countries are expected to account for

82% of the increase in global coal demand by 2030. The outlook of India cause a major concern despite of strong domestic coal industry it will eventually become the largest importer of coal.

Demand for coal in India is growing at a particularly fast rate it has been running much higher than the world average. Between 1976 and 2006, domestic coal consumption rose by 5.3% a year as compare to 2% for world. In recent years, average annual growth increased sharply exceeding 8% in a year since 2003.

COAL TRADE:

Coal is traded all over the world and its being shipped from one corner to another corner of world in huge quantity and distance. Over last twenty years seaborne trade in steam coal has increased on an average about 8% each year and same is 2% in terms of Coking coal. Overall international trade in coal reaches 846 Million Tons in 2009 as compared to 275 Million Tons of 1986 while this is a significant amount of coal it still less than 20% of total coal consumed. Transportation cost accounts for a large share of total delivered price of coal, therefore international trade in steam coal if effectively divided into two markets the Atlantic and the Pacific. The Atlantic market is made up for importing countries in western Europe such as UK, Germany and Spain where as the Pacific market consists of developing countries and OECD Asian importers like Japan, China, India, Korea, the Pacific market controls more than 60% of world steam coal trade. South Africa is a Natural Point of Convergence between the two markets.

Australia is largest exporter of coal with an export of 259 Million Tons coal in 2009 followed by Indonesia with 230

Million Tons coal is the most valuable export commodities for these two countries. Almost 75% of total Australian exports go to Asian Countries where as these countries consumed 90 to 95% of Indonesian coal as well. Australia is largest exporter of coking coal as well with 57% of total world exports. South Africa is emerging as major exporter of high CV coal to Europe and Asian countries, in the year 2009 it exported 67 Million Tons of coal.

Japan is largest importer of coal with an import of 165 Million Tons in 2009 followed by 130 Million Tons by china, India was 4th largest importer with total import of 67 Million Tons in 2009 out of which 44 Million Tons was Steam coal and 23 Million Tons was Coking coal. India is expected to increase its share so as China. The majority of Indian Steam Coal requirement is met by Indonesia where as Australia supplies majority of its Cocking coal requirement. South African coal is now becoming more popular in India particularly in Cement Industry due to its high CV, low moisture and high ash values in compare to Indonesian coal but Indonesia coal is still popular among the Power Sector of India and other Sectors due to its price and distance from Indian ports.

Much of the country’s (power) capacity addition programme depends on the availability of coal and its supply has to be ensured on a long-term basis. The supply of domestic coal to the power sector in 2010-2011 is expected to fall short by 46 Million Tones, which is likely to widen up to 100 Million Tones in 2011-2012. Sources in the power ministry said while demand of coal in 2010-2011 had been estimated to be 512 Million Tones, domestic supply would not exceed 410-412 Million Tones. As per the power ministry the demand and supply gap will increase up to 200 Million Tones by end of 2014-15 and the only option to meet out this gap is import of coal from the countries like Indonesia, South Africa, Mozambique, Australia Philippines etc.

The infrastructure development of country required a huge amount of cement, steel and power and to produce and generate the same Indian manufacturers are fully depend on Coal and the amount of power required over next 20 years will add up the coal requirements in multiple numbers.

COMPANY’S FUTURE OUTLOOK:

The Company has increased its corporate customer base during the year 2011-12. There was 230% increase in the business despite of negative US$ INR senceiro. In the coming financial year 2012-13 company is planning to achieve business turnover of 2.1. The company has also started to deal steam coal from South Africa this year to cater the requirements of major cement companies and power stations and is expected to gain a substantial growth in coming financial year 2012-13.

The work of survey and exploration for acquiring mines in Indonesia is progressing well with wholly – owned subsidiary PT KOL Resources Indonesia at Jakarta.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U13209AP2007PLC055522
Name of the company	KYORI OREMIN LIMITED
Address of the registered office or of the principal place of business in India of the company	4^th Floor, “My Home Jupally”, Green Lands, Ameerpet, Hyderabad – 500 016, Andhra Pradesh, India E-Mail: finance@kyori.in
This form is for	Creation of charge
Type of charge	Book Debts Movable Property Immovable Property
Particular of charge holder	Central Bank Of India Limited, Chandermukhi, Nariman Point, Mumbai – 400021, Maharashtra, India E-Mail: bmhyde2688@centralbank.co.in
Nature of description of the instrument creating or modifying the charge	Composite Hypothecation Deed dated:31.03.2012
Date of instrument Creating the charge	31.03.2012
Amount secured by the charge	Rs.600.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: CC: Base Rate + 3.50% Terms of Repayment: On Demand Margin: Fund Based: Cash Credit: 25% against paid stocks, 25% against receivables upto 90 days, 35% against receivables upto 180 days, 30% against advances to suppliers and transporters upto 90 days. Non Fund Based: ILC/FLC: 10% BG : 10% Extent and Operation of the charge: Pari passu first charge basis with present bankers 1. CC and ODBD: Charge on entire current assets including receivables of the company on pari passu basis with existing bankers (State Bank of India, ICICI Bank and Bank of Baroda) for fund based working capital facilities. 2. LC: Hypothecation of stocks received under LC, documents to title to goods, accepted bills of exchange and extension of charge over current assets. 3. BG: Counter guarantee of the company/lien on margin money.
Short particulars of the property charged	Hypothecation on entire current assets of the company and movables both present and future on pari passu basis with State Bank of India, ICICI Bank and Bank of Baroda. Collateral Security: Non-Agricultural Land admeasuring Ac 15.30.5 at Sy.No138-2,3,4,6 to 22, 139-1,4,133,135-1,139-2,3,143-1 to 121, at Konada Revenue Village and Velduru G.P. Vizianagaram, District, Andhra Pradesh

FIXED ASSETS:

· Computer and Peripherals

· Furniture and Fixtures

· Vehicle (Car)

· Two Wheelers

· Equipments

· Miscellaneous Assets

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 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] 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.54.29
UK Pound	1	Rs.81.09
Euro	1	Rs.70.61

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.