MIRA INFORM REPORT

Report Date :

29.05.2013

IDENTIFICATION DETAILS

Name :	HINDUSTAN TIN WORKS LIMITED
Registered Office :	488, Bartan Market, Sadar Bazar, New Delhi-110006, India
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	11.12.1958
Com. Reg. No.:	55-003006
Capital Investment / Paid-up Capital :	Rs. 103.997 millions
CIN No.: [Company Identification No.]	L27109DL1958PLC003006
TAN No.: (Tax Deduction & Collection Account No.)	DELH03792F
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturing of Tin Cans, Printed / Lacquered Sheets, Components and trading in Tin Plates.
No. of Employees :	322 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 3600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having a satisfactory track record. The net profitability has seen as extreme dip during 2012. However, the general financial position seems to be good. Trade relations are fair. Business is active. Payments are recorded as usually correct. 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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term Loan: A-
Rating Explanation	Adequate degree of safety and low credit risk.
Date	June, 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 :	488, Bartan Market, Sadar Bazar, New Delhi – 110006, India
Tel. No.:	91-11-27773645/ 26231990/ 23679016
Fax No.:	91-11-23550405/ 27730405
E-Mail :	sbhatia@del2.vsnl.net.in cs@hindustantin.co.in
Website :	http://www.hindustantin.com www.hindustantin.biz
Corporate Office :	426, DLF Tower-A ,Jasola, New Delhi-110025, India
Tel. No.:	91-11-49998888
Fax No.:	91-11-49998889
Email :	info@hindustantin.co.in
Factory :	Village and Post Office, Bhigan, Dhatoori Road, Tehsil Gannaur, District Murthal, Sonepat – 131001, Haryana, India
Tel No.:	91-130-2475771/ 73
Branch Office 1 :	816, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22871612 / 22823894 / 22842223 / 24
Fax No.:	91-22-22044202
E-Mail :	htw@bom3.vsnl.net.in htw@vishwa.com
Branch Office 2 :	KN/16 Gali No.10, Anand Parbat Industrial Area, New Delhi, India

DIRECTORS

As on 31.03.2012

Name :	Mr. Vijay Kumar Bhatia
Designation :	Chairman
Name :	Mr. Sanjay Bhatia
Designation :	Managing Director
Name :	Mr. Ashok Kumar Bhatia
Designation :	Whole Time Director
Name :	Mr. N.P. Sahni
Designation :	Director
Name :	Mr. B.L.Khurana
Designation :	Director
Name :	Mr. Ramesh Kumar Jain
Designation :	Director
Name :	Mr. M.K. Zutshi
Designation :	Director
Name :	Mr. Deepak Pahwa
Designation :	Director
Name :	Mr. Manoj Jain
Designation :	Whole Time Director (Resigned w.e.f. 12th August 2011)
Name :	MR. P. P. Singh
Designation :	Whole Time Director (Appointed w.e.f. 12th August 2011)

KEY EXECUTIVES

Name :	Mr. Rajat Pathak
Designation :	V.P. (Finance) and Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2013

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Any Others (Specify)	4024555	38.70
Directors/Promoters & their Relatives & Friends	4024555	38.70
Sub Total	4024555	38.70
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	4024555	38.70
(B) Public Shareholding
(1) Institutions
Financial Institutions / Banks	1023579	9.84
Sub Total	1023579	9.84
(2) Non-Institutions
Bodies Corporate	1667479	16.03
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 million	1235455	11.88
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	1268756	12.20
Any Others (Specify)	1179859	11.35
Clearing Members	47067	0.45
Non Resident Indians	41560	0.40
Hindu Undivided Families	90732	0.87
Foreign Corporate Bodies	1000500	9.62
Sub Total	5351549	51.46
Total Public shareholding (B)	6375128	61.30
Total (A)+(B)	10399683	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	10399683	0.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Tin Cans, Printed / Lacquered Sheets, Components and trading in Tin Plates.

Products :

Item Code No	Products Description
900700	Tin Containers
8007000	Printed Sheets

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Containers	Nos. in Lacs	--	2615	2001.96
Prinited and Lacquered Sheets	M. Tons	--	3700	14.969

NOTE :

Since License system under the New Industrial policy has been dispensed with, therefore no license capacity

has been given.

Installed capacity is certified by the management and not verified by the Auditor being a technical matter.

GENERAL INFORMATION

No. of Employees :

322 (Approximately)

Bankers :

· Punjab National Bank

· State Bank of India

· Standard Chartered Bank

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Term loans From Banks
Standard Chartered Bank (ECB Loan IN FC)	26.865	42.682
State Bank of India (805 Lacs)	13.050	27.250
Punjab National Bank (805 Lacs)	15.453	30.498
Punjab National Bank (335 Lacs)	18.482	24.500
State Bank of India (335 Lacs)	18.500	24.500
Punjab National Bank (400 Lacs)	28.955	6.232
Auto Loans From (HDFC\ ICICI\Axis Bank\Tata Capital \Kotak Mahindra)	4.268	2.146
From other parties
Life Insurance Corporation of India	6.834	6.834
Loans repayable on demand From banks Working Capital Limits
Punjab National Bank	176.406	251.568
State Bank of India	163.413	165.844
Standard Chartered Bank	61.772	24.949
Total	533.998	607.003

Note:

Working Capital limits are secured by pari-passu first charge on Current Assets of the company both present and future and in addition by second charge on fixed assets of the company.

(The above working capital limits are guaranteed by Directors namely S/ Sh. Vijay Kumar Bhatia, Ashok Kumar Bhatia, and Sanjay Bhatia.)

Banking Relations :	--
Auditors :
Name :	M.L. Puri and Company Chartered Accountants
Address :	407, New Delhi House, Barakhamba Road, New Delhi-110001, India
Joint Venture Company :	Rexam HTW Beverage Can (India) Limited
Other related party where control exist :	v Tricom India Limited v Hi-Tech Surfactants Private Limited v Hi-Tech Detergents Private Limited v Vijay Brothers.

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
12250000	Equity Shares	Rs.10/- each	Rs. 122.500 Millions
250000	12% Redeemable Cumulative preference shares	Rs.10/- each	Rs. 2.500 Millions
	Total		Rs. 125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10399683	Equity Shares	Rs.10/- each	Rs. 103.997 Millions

Details of Shareholders holding more than 5% shares in the company

Name of Shareholders	31.03.2012
	No. of Shares held	% of Holding
Religare Finvest Limited	1215100	11.68
Stemcor A. G.	1000000	9.62
Sanjay Bhatia	874349	8.41
Vijay Kumar Bhatia	766170	7.37
Ashok Kumar Bhatia	595450	5.73
United India Insurance Company Limited	522000	5.02

The company has issued only one class of shares referred to as Equity Shares having par value of Rs. 10/-. All equity shares carry one vote per share without restrictions and are entitled to dividend, as and when declared. All shares rank equally with regard to the company's residual assets.

The amount of per share dividend recognised as distributions to equity shareholders for the year ended March 31, 2012 is Rs.0.70 (Previous year: Rs. 1.40), subject to approval by shareholders in the ensuing annual general meeting.

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		103.997	103.997	103.996
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		794.287	745.828	650.024
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		898.284	849.825	754.020
LOAN FUNDS
1] Secured Loans		533.998	607.003	674.116
2] Unsecured Loans		0.000	4.400	10.479
TOTAL BORROWING		533.998	611.403	684.595
DEFERRED TAX LIABILITIES		64.213	61.111	54.745
TOTAL		1496.495	1522.339	1493.360
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		617.223	593.207	503.538
Capital work-in-progress		13.753	26.045	65.035
INVESTMENT		33.446	33.446	33.446
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	470.699	528.364	489.647
	Sundry Debtors	578.621	699.058	723.987
	Cash & Bank Balances	43.034	49.391	74.534
	Other Current Assets	10.924	18.549	0.000
	Loans & Advances	254.955	249.363	265.621
Total Current Assets		1358.233	1544.725	1553.789
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	417.725	530.020	253.475
	Other Current Liabilities	99.603	122.258	385.777
	Provisions	8.832	22.806	23.196
Total Current Liabilities		526.160	675.084	662.448
Net Current Assets		832.073	869.641	891.341
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1496.495	1522.339	1493.360

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	2466.441	2947.843	2848.584
		Other Income	25.559	18.579	32.929
		TOTAL (A)	2492.000	2966.422	2881.513
Less	EXPENSES
		Cost of materials consumed	1337.001	1478.785
		Purchase of Stock-in-Trade	628.070	839.241
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	22.113	23.604
		Employee benefit expense	134.596	137.147
		Other expenses	151.915	183.221
		TOTAL (B)	2273.695	2661.998	2586.973
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2183.305	304.424	294.540
Less	FINANCIAL EXPENSES (D)		91.415	91.422	80.034
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		126.890	213.002	214.506
Less/ Add	DEPRECIATION/ AMORTISATION (F)		43.361	41.573	37.229
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		83.529	171.429	177.277
Less	TAX (H)		26.609	58.647	62.701
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		56.920	112.782	114.576
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		373.926	289.122	209.087
Less	APPROPRIATIONS
		Transfer to General Reserve	6.000	11.000	11.500
		Proposed Dividends	7.280	14.560
		Tax on proposed Dividends	1.181	2.418	23.041
	BALANCE CARRIED TO THE B/S		416.385	373.926	289.122
	EARNINGS IN FOREIGN CURRENCY
		Export Goods on FOB Basis	395.601	583.889	443.571
	TOTAL EARNINGS		395.601	583.889	443.571
	IMPORTS
		Raw Materials	521.775	858.255	774.664
		Spares	5.258	8.236	6.707
		Capital Goods	14.211	29.905	13.640
	TOTAL IMPORTS		541.244	896.396	795.011
	Earnings / (Loss) Per Share (Rs.)		5.47	10.84	11.02

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012	31.12.2012
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	901.800	600.900	614.000
Total Expenditure	824.300	550.200	567.700
PBIDT (Excl OI)	77.500	50.700	46.300
Other Income	06.500	07.100	06.800
Operating Profit	83.900	57.800	53.100
Interest	27.800	26.100	25.100
Exceptional Items	0.000	0.000	0.000
PBDT	56.100	31.700	28.00
Depreciation	11.100	11.100	11.10
Profit Before Tax	45.000	20.500	16.900
Tax	12.000	08.500	05.100
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	33.000	12.100	11.800
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	33.000	12.100	11.800

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.28	3.80	3.98
Net Profit Margin (PBT/Sales)	(%)	3.39	5.82	6.22
Return on Total Assets (PBT/Total Assets}	(%)	4.23	8.02	8.62
Return on Investment (ROI) (PBT/Networth)		0.09	0.20	0.24
Debt Equity Ratio (Total Debt/Networth)		0.59	0.72	0.91
Current Ratio (Current Asset/Current Liability)		2.58	2.29	2.35

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	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	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]	Date of Birth of Proprietor/Partner/Director, if available	No
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

COMPANY OVERVIEW

Subject is a public company incorporated on 11^th December, 1958 under the Companies Act, 1956; equity shares of the company are listed on Bombay Stock Exchange, Calcutta Stock Exchange and Delhi Stock Exchange. The company is engaged mainly in the business of Manufacturing of Tin Cans, Printed / Lacquered Sheets, Components and trading in Tin Plates.

OPERATIONS

The Company could achieve turnover of Rs. 2466.441 millions as against the previous year's turnover of Rs. 2947.843 millions due to political turmoil and unrest in Middle East, grappling of Eurozone with its debts crisis and extremely challenging domestic business environment.

Due to high inflation, higher cost of production including high rate of interest, personnel and other costs, volatility in commodity prices, rupee depreciation and lower turnover during the year, the Company's PAT is reduced from Rs. 112.782 millions to Rs. 56.920 millions.

TRADE MARK AND DESIGN

During the year, the Company was granted Trade Mark registration of symbol and word "CANVIRONMENT" under Trade Marks Act, 1999, by the Trade Marks Registry, Delhi. The Company was also granted Design registration of "SHAPED CAN" under the Design Act, 2000, by the Controller General of Patents, Designs and Trade Marks, Kolkata.

The Company was also granted Design registration of "CAN OVERCAP WITH DIMPLES" under the Design Act, 2000, by the Controlled General of Patents, Designs and Trade Marks, Kolkata in June, 2012.

THE MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Global growth is projected to be 3.5% for current year 2012. US economy is expected to continue its slow recovery, whilst the Eurozone grapples with its debts crisis. According to the revised estimate released by Central Statistical Organization, the GDP growth for financial year 2011-2012 decreased to 6.5% as against 8.4% for the financial year 2010-11

FY 2011-2012 witnessed a turbulent business environment that moderated growth. The year started with optimism but as it progressed there were challenges with inflation, decelerating growth and worsening investment climate which adversely impacted consumer sentiments. The global economic environment was confronted with geo-political instability, Eurozone sovereign debt crisis, fluctuating global commodity prices, etc.

PRODUCT WISE PERFORMANCE

The Company had been mainly focusing on food products and now gradually expanding its base in non food sector also. In addition Company is also developing new innovative products for domestic and global market.

OUTLOOK

The outlook of the Company seems to be very progressive. The management of the Company is seriously engaged in the task of reducing overheads and other costs. Company has a vision to consolidate its position as leader in metal packaging segment.

UNSECURED LOAN

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Loans and advances from related parties
Hi-Tech Surfactants Private Limited	0.000	3.900
Hi-Tech Detergent Private Limited	0.000	0.500
Total	0.000	4.400

Note:

There has been no defaults in repayment of any of the loans or interest thereon at the end of the year.

CONTINGENT LIABILITIES: (AS ON 31.03.2012)

(a) In respect of Bank Guarantee outstanding as on 31^st March, 2012 amounting to Rs.23.393 millions.

(b) Case pending before CESTAT has been remanded back to the commissioner for reconsideration for recovery of Rs.0.132 million. Against this Rs.0.060 million has been deposited by the Company.

(c) Compensation suit filed under section 12B of MRTP Act by Himalaya International Limited. Has been decided in favour of the complainant by the MRTP Commission vide order dated 07.07.2008. The total amount involved is Rs. 34.975 millions. The company has filed an appeal before the Hon'ble Delhi High Court for the relief and Hon'ble High Court has remanded back the matter to MRTP Commission and MRTP commission has given the judgment in favour of the company. M/s Himalayan International Limited has filed an appeal before Competition Appellate Tribunal for reviewing the decision.

(d) Income Tax demand Rs.1.450 millions for Assessment Year 2008-09 and demand of Rs.2.960 millions for assessment year 2009-10.

(e) Rs 1.684 millions for the year 2008-09 to 2011-12 may be payable to Haryana Sales Tax Department towards L.A.D.T. The company has filed an appeal before the Hon'ble High Court Chandigarh for the relief and the Hon'ble High Court has granted stay against L.A.D.T. and declared L.A.D.T. unconstitutional. However no demand has been raised by the Haryana Sales Tax Department.

STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31^ST DECEMBER, 2012

(Rs. In Millions)

S.	Particulars	Quarter Ended		Nine Months Ended
No.		31.12.2012	30.09.2012	31.12.2012
		(Unaudited)	(Unaudited)	(Unaudited)
1	Income From Operations
	(A) Net Sales/Income From Operations	613.979	600.877	2116.655
	(Net of Excise Duty)
	(B) Other Operating Income
	Total Income From Operations (Net)	613.979	600.877	2116.655
2	Expenses
	(A) Cost Of Materials Consumed	318.686	337.447	1111.290
	(B) Purchases Of Stock- In- Trade	161.045	155.420	528.296
	(C) Changes In Inventories Of Finished Goods, Work-In Progress And Stock In Trade	12.142	(11.616)	70.725
	(D) Employee Benefits Expense	36.668	34.195	109.043
	(E) Depreciation And Amortisation Expense	11.110	11.133	33.303
	(F) Other Expenses (Any Item Exceeding 10% of the Total Expenses Relating to Continuing Operations To Be Shown Separately)	39.110	34.744	122.806
	Total Expenses	578.761	561.323	1975.463
3	Profit / (Loss) From Operations Before Other Income, Finance Costs And Exceptional Items (1-2)	35.218	39.554	141.192
4	Other Income	6.751	7.095	20.294
5	Profit / (Loss) From Ordinary Activities Before Finance Costs And Exceptional Items (3+4)	41.969	46.649	161.486
6	FINANCE COSTS	25.069	26.126	79.025
7	Profit / (Loss) From Ordinary Activities After Finance Costs But Before Exceptional Items (5-6)	16.900	20.523	82.461
8	Exceptional Items
9	Profit/(Loss) From Ordinary Activities Before Tax (7+8)	16.900	20.523	82.461
10	Tax Expense	5.071	8.458	25.526
11	Net Profit / (Loss) From Ordinary Activities After Tax (9-10)	11.829	12.065	56.935
12	extraordinary items (net of tax expense Rs. In Millions)
13	Net Profit / (Loss ) For The Period (11-12)	11.829	12.065	56.935
14	Share Of Profit / (Loss) Of Associates*
15	Minority Interest *
16	Net Profit/(Loss) After Taxes, Minority Interest And Share Of Profit / (Loss) Of Associates (13+14+15)	11.829	12.065	56.935
17	Paid-Up Equity Share Capital (Face Value Of The Share Is Rs. 10/- Per Share)	103.997	103.997	103.997
18	Reserve Excluding Revaluation Reserves As Per Balance
	Sheet of Previous Accounting Year
19.i	Earnings Per Share (Before Extraordinary Items) (of Rs.each) (not Annualized):
	(A) Basic	1.13	1.16	5.47
	(B) Diluted	1.13	1.16	5.47
19.ii	Earnings Per Share (After Extraordinary Items)
	(of Rs. each) (not Annualized):
	(A) Basic	1.13	1.16	5.47
	(B) Diluted	1.13	1.16	5.47
A	PARTICULARS OF SHAREHOLDING
1	Public Shareholding
	- Number of Shares	6338548	6348548	6338548
	- Percentage of Shareholding	60.95	61.05	60.95
2	Promoters And Promoter Group Shareholding
	A) Pledged/Encumbered
	- Number Of Shares
	- Percentage Of Shares (As a % of The Total Shareholding Of Promoter And Promoter Group)
	- Percentage Of Shares (As a % of The Total Share Capital of The Company)
	B) Non- Encumbered
	- Number of Shares	4061135	4051135	4061135
	- Percentage Of Shares (As a % of The Total Shareholding of The Promoter and Promoter Group)	100	100	100
	- Percentage Of Shares (As a % of The Total Share Capital Of the Company)	39.05	38.95	39.05

	Particulars	3 Months Ended 31.12.2012 (No.)
B	INVESTOR COMPLAINTS
	Pending at the beginning of the quarter	1
	Received during the quarter	15
	Disposed of during the quarter	16
	Remaining unresolved at the end of the quarter	0

NOTES:

The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on 09^th Fabruary, 2013

Limited Review as required under Clause 41 of the Listing Agreement has been carried out by the Statutory Auditors.

Unclaimed dividend of the Shareholders is lying with the bank in respective accounts, the Shareholders are requested to collect their dividend.

Every shareholder is requested to demat their shares so that the security of the Company can be traded easily.

Every shareholder of the Company is requested to inform the registrar of transfer under intimation to the Company about detail of their Bank Account No., so that in future dividend can be directly transferred in their account.

Tax Expense is inclusive of Deferred Tax and Wealth Tax in the financial year ended 31st March, 2012 and for the quarter ended 31st Decemnber, 2012 the Tax Expense is inclusive | of Deferred Tax Only.

The Company operations comprise two segments i) Primary Segment- Business Segment and ii) Secondary Segment- Geographical Segment:

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT FOR THE QUARTER ENDED 31^ST DECEMBER, 2012

(Rs. In Millions)

Particulars	Quarter Ended		Nine Months Ended
	31.12.2012	30.09.2012	31.12.2012
	(Unaudited)	(Unaudited)	(Unaudited)
Segment Revenue
Primary Segment (Business)
Manufacturing	455.278	431.917	1553.507
Trading	158.701	168.959	563.148
Unallocated	6.752	7.094	20.294
Total (Net sales/Income From Operations)	620.731	607.970	2136.949
Segment Results
Profit before Interest & Tax
Manufacturing	29.028	33.912	124.543
Trading	6.190	5.643	16.650
Unallocated	6.752	7.094	20.294
Total	41.970	46.649	161.487
Less: (i) Interest	25.069	26.127	79.025
(ii) Un-allocable income	6.752	7.094	20.294
Total Profit Before Tax	10.149	13.428	62.168
Capital Employed
(Segment assets - Segment Liabilities)
Primary Segment
Manufacturing	580.824	592.066	580.824
Trading	264.231	265.475	264.231
Unallocated	110.165	85.849	110.165
Total	955.220	943.390	955.220
Segment Revenue
Secondary Segment (Geographical)
Domestic	472.167	496.321	1754.384
Export (Manufacturing)	141.812	104.555	362.271
Unallocated	6.752	7.094	20.294
Total (Net sales/Income From Operations)	620.731	607.970	2136.949
Segment Results
Profit before Interest & Tax
Domestic	24.299	29.502	106.290
Export (Manufacturing)	10.919	10.053	34.903
Unallocated	6.752	7.094	20.294
Total	41.970	46.649	161.487
Less: (i) Interest	25.069	26.127	79.025
(ii) Un-allocable income	6.752	7.094	20.294
Total Profit Before Tax	10.149	13.428	62.168
Capital Employed
(Segment assets - Segment Liabilities)
Secondary Segment
Domestic	757.350	779.726	757.350
Export (Manufacturing)	87.705	77.815	87.705
Unallocated	110.165	85.849	110.165
Total	955.220	943.390	955.220

WEBSITE DETAILS

PRESS RELEASE

HINDUSTAN TIN WORKS GETS CERTIFIED BY TCL- HACCP AND ISO 9001:2008

New Delhi, 3rd January 2011: Hindustan Tin Works Limited (HTWL) one of the leading Can manufactures of India has been certified by TCL for ISO 9001:2008 and HACCP (Hazard Analysis and Critical Control Points). HTWL has been following a strict regime of quality control, quality assurance and food safety and these certifications are testimony to this. The auditing for the certification was conducted by Transpacific Certifications Limited (TCL).

Both the certifications are applicable to quality assurance, systems, procurement, storage, printing, manufacturing, packing, dispatch of tin containers and its components. HACCP is used in the food industry to identify potential food safety hazards, so that key actions can be taken to reduce or eliminate the risk of the hazards being realized. The system is used at all stages of food production and preparation processes including packaging, distribution, etc.

According to Mr. Sanjay Bhatia Managing Director HTWL “We feel immensely proud for being certified by TCL- HACCP and ISO 9001:2008. HTWL unmatched expertise and technology help to meet the packaging requirements of our esteemed customers. We at HTWL maintain strict quality control measures satisfying our customers’ requirement in terms of quality, cost, delivery and services the first time and every time”.

Transpacific Certifications Limited (TCL) is an internationally accreditated certification body consisting of highly rated professionals, helping organizations achieve excellence and world class competitiveness through the application of Stand alone or Integrated National and International Standards.

About Hindustan Tin Works Limited:

Hindustan Tin Works Limited – HTWL (One of the ten fastest growing companies in India, Economic Times) a premier Indian CAN manufacturer producing a wide range of CANS and quality packing solutions to Dairy Products, Edible Oils, Tea, Coffee, Motor Oils, Medicines, Pesticides, Chemical and Paint Industries, HTWL is one of the largest manufacturers of lithographed metal containers as well.

Tin Cans or "Green Cans" as they are called are the most environment-friendly alternative to other forms of packing because of their recyclable quality. HTWL takes a leading role in ensuring proper environment responsibility by offering fully recyclable Green Cans that adhere to internationally accepted standards.

HTWL is the first company in India which conceptualized and started the 2 piece cans business in India in 2005. HTWL has won the Cannex’ 96, 97, 98, 03 awards under the three-piece cans category. It has also managed to bag various corporate awards like Asia CanTech 2009, Bangkok; TPC, 2009 Mumbai; Hindustan Tin Works wins Asia Can Tech 2008 and 2007 Food Award, Award for export excellence of the northern region in year 2005-2006 etc.

HTWL, being a socially responsible corporate had recently organized the Canvironment Week – a global can recycling movement to promote an alternative sustainable solution to world’s environmental problems.

Canvironment Weekby Hindustan Tin Works has recently been awarded the Environment Initiative of the Year Award at Ambrosia Indspirit 2010.

HINDUSTAN TIN WORKS LTD ANNOUNCES UN-AUDITED RESULTS FOR SECOND QUARTER (Q2)

2012-13

 PBT ñ by 25.9%

 PAT ñ by 11.4%

 EPS ñ by 11.4%

New Delhi, 15th November, 2012:

India’s one of the leading can manufacturer producing a wide range of CANS and providing quality packaging solutions, Hindustan Tin Works Limited, a recognized star exporter today reported its quarterly profit and revenue numbers with a 11.4 % jump in the net profit after tax for the quarter ended 30th September  2012.

 While the company saw its net sales crossed Rs 600.000 millions for 2^nd Quarter, as compared to Rs 599.900 millions of the corresponding period last year.

The Profit after Tax stood at Rs 12.100 millions as compared to Rs 10.800 millions in the corresponding quarter of the previous year thereby showing 25.9% increase. Earnings per share stood at Rs 1.16 as compared to Rs 1.04 in the corresponding quarter of the previous year thereby showing an increase of 11.4 %.

The numbers for ending nine months are also encouraging. PAT stood at Rs 45.100 millions as compared to Rs 42.000 millions thereby showing an increase of 7.4 %.

Earnings per share stood at Rs 4.20 as against Rs 4.04 of corresponding nine months of the last year showing an increase of 7.4%.

Mr Sanjay Bhatia, Managing Director, Hindustan Tin Works Limited said “We are happy that inspite of the tough market conditions, we have seen positive trends in the companies financial performance – Increase of 11.4% in PAT/EPS and marginal growth in sales. We are quite hopeful that this trends will continue in the rest of the year”

Highlights

	Qtr ended Sep 30th , 2012 (Rs. In millions)		Qtr ended Sep 30^th, 2011 (Rs. In millions)		Growth %	Six Months ended Sep 30^th, 2012 (Rs. In millions)	Six Months ended Sep 30^th, 2011 (Rs. In millions)			Growth %
Turnover	600.800	589.900		1.84		1502.600		1500.400	0.15
Profit after tax	12.100	10.800		11.4		45.100		42.000	7.40
Earnings per share (face value 10/-)	11.600	10.400		11.4		43.400		40.400	7.40

FIXED ASSETS

v Tangible Assets

· Land

· Building

· Building (ADM block)

· Building (ADM block) (Jasola)

· Plant and Machinery

· Electric Equipment

· Electric Transformer

· Office Equipment

· Vehicles

· Pattern and Dies

· Forklift

· Computers

· Furniture and Fixture

· Furniture and Fixture (Jasola)

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.55.74
UK Pound	1	Rs.84.17
Euro	1	Rs.72.03

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.