MIRA INFORM REPORT

Report Date :

14.04.2014

IDENTIFICATION DETAILS

Name :	STEEL PLANTECH ENGINEERING INDIA PRIVATE LIMITED
Registered Office :	B - Block, 6^th Floor, Ecospace Business Park, Action Area-II, Plot No. II-F/11, Newtown, Rajarhat, Kolkata – 700156, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	13.10.2011
Com. Reg. No.:	21-168478
Capital Investment / Paid-up Capital :	Rs. 4.800 Millions
CIN No.: [Company Identification No.]	U74999WB2011PTC168478
TAN No.: [Tax Deduction & Collection Account No.]	CALS27713A
PAN No.: [Permanent Account No.]	AAQCS4858P
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is engaged in design, engineering, procurement and installation of equipment for iron and steel making plants.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 12000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new company having moderate track record. Company has achieved decent sales turnover in its first year of operation but external borrowing of the company is huge. However, trade relation are improving. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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’s current account deficit for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

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.

INFORMATION DECLINED BY

Name :	Mr. Sambit Sarangi
Designation :	Finance Head
Contact No.:	91-9432011744
Date :	09.04.2014

LOCATIONS

Registered Office :	B - Block, 6^th Floor, Ecospace Business Park, Action Area-II, Plot No. II-F/11, Newtown, Rajarhat, Kolkata – 700156, West Bengal, India
Tel. No. :	91-33-40174100 to 4109
Mobile No. :	91-9432011744 (Mr. Sambit Sarangi)
Fax No. :	91-33-40174110
E-Mail :	sudha@harimachines.in ssarangi@allmineral.asia office@steelplantech.in
Website :	www.steelplantech.co.jp

DIRECTORS

As on 31.07.2013

Name :

Sabyasachi Mishra

Designation :

Director

Address :

Flat No. 1701, Horizon Tower 3, P. O. Patharghata Uni World City, Newtown, North 24 Parganas – 700135, West Bengal, India

Date of Birth/Age :

16.09.1967

Date of Appointment :

13.10.2011

DIN No. :

00233852

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	L27102OR2006PLC008594	OCL IRON AND STEEL LIMITED	Director	17/05/2009	20/02/2006	17/02/2010	Active	NO
2	U67120DL1995PTC215206	KIRAN RESOURCES PRIVATE LIMITED	Director	01/03/2006	01/03/2006	26/06/2010	Active	NO
3	L29299OR1948PLC000713	HARI MACHINES LIMITED.	Managing director	15/05/2009	07/12/2006	-	Active	NO
4	U51420OR2008PTC010397	JYOTIRMOYEE INTERNATIONAL PRIVATE LIMITED	Director	27/10/2008	27/10/2008	-	Active	NO
5	U11200WB2008PTC130315	ALLMINERAL ASIA PRIVATE LIMITED	Managing director	11/06/2009	06/11/2008	-	Active	NO
6	U67120WB1978PTC031368	NAVNEET TRADING & INVESTMENT CO PVT LTD	Director	02/03/2010	02/03/2010	-	Active	NO
7	U74900WB2010PTC143321	HAZEMAG INDIA PRIVATE LIMITED	Director	11/03/2010	11/03/2010	-	Active	NO
8	U29253WB2010PTC150843	JYOTIRMOYEE MACHINES PRIVATE LIMITED	Director	30/06/2010	30/06/2010	-	Active	NO
9	U13100WB2010PTC153241	PRO MINERALS PRIVATE LIMITED	Director	21/09/2010	21/09/2010	-	Active	NO
10	U51109WB1990PTC049414	AAYUSH MANUFACTURERS & FINANCIERS PVT.LTD.	Director	27/01/2011	27/01/2011	-	Active	NO
11	U67120WB1995PTC110837	T R INVESTMENTS PRIVATE LIMITED	Director	28/01/2011	28/01/2011	13/08/2013	Active	NO
12	U74900WB2011PTC160354	CEMTEC INDIA PRIVATE LIMITED	Director	07/03/2011	07/03/2011	-	Active	NO
13	U70109WB1993PTC060083	SHIVSHAKTI COMMUNICATION AND INVESTMENT PVT LTD	Director	25/08/2011	25/08/2011	-	Active	NO
14	U74999WB2011PTC168478	STEEL PLANTECH ENGINEERING INDIA PRIVATE LIMITED	Director	13/10/2011	13/10/2011	-	Active	NO
15	U74140WB2011PTC171095	VSP BUSINESS SOLUTIONS INDIA PRIVATE LIMITED	Director	22/12/2011	22/12/2011	-	Active	NO
16	U51909WB1989PTC047900	RITESHWARI TRADING AND INVESTMENTS PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
17	U52100WB2011PTC158145	PINAKINI MERCANTILE PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
18	U51101WB2010PTC142948	GENUINE DEALCOMM PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO

Name :

Mr. Raghu Hari Dalmia

Designation :

Director

Address :

1, Tees January Marg, New Delhi – 110011, India

Date of Birth/Age :

14.01.1950

Date of Appointment :

13.09.2012

DIN No. :

00009597

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	U28991WB1948PTC191241	DALMIA AGENCIES PRIVATE LIMITED	Director	04/06/1980	04/06/1980	07/08/2012	Active	NO
2	L29299OR1948PLC000713	HARI MACHINES LIMITED.	Director	01/10/1980	01/10/1980	-	Active	NO
3	U65993DL1974PTC007551	DAPEL INVESTMENTS PRIVATE LIMITED	Director	07/06/1994	07/06/1994	21/07/2008	Active	NO
4	U74899DL1989PTC035739	GRANDEUR TRAVELS AND TOURS PVT LTD	Director	29/07/1995	29/07/1995	-	Active	NO
5	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	06/01/1997	06/01/1997	-	Active	NO
6	U01909DL1984PLC022836	DEBI KAY SYSTEMS LIMITED	Director	11/02/2000	11/02/2000	-	Active	NO
7	L65993WB1974PLC157598	KABIRDAS INVESTMENTS LIMITED	Director	29/04/2002	29/04/2002	28/01/2009	Active	NO
8	L27102OR2006PLC008594	OCL IRON AND STEEL LIMITED	Director	20/02/2006	20/02/2006	17/02/2010	Active	NO
9	U11200WB2008PTC130315	ALLMINERAL ASIA PRIVATE LIMITED	Director	07/08/2009	28/11/2008	25/01/2012	Active	NO
10	U67120DL1995PTC215206	KIRAN RESOURCES PRIVATE LIMITED	Director	30/09/2009	16/12/2008	-	Active	NO
11	U13100WB2010PTC153241	PRO MINERALS PRIVATE LIMITED	Director	06/11/2013	21/09/2010	-	Active	NO
12	U51109WB1990PTC049414	AAYUSH MANUFACTURERS AND FINANCIERS PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
13	U24233WB1996PTC076723	NOBEL CONSULTANCY PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
14	U67120WB1995PTC110837	T R INVESTMENTS PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
15	U27109WB1995PTC067578	KHAITAN UDYOG PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
16	U74140WB2010PTC142325	CONFIRM DEVELOPERS CONSULTANTS PRIVATE LIMITED	Director	24/08/2011	24/08/2011	-	Active	NO
17	U70109WB1993PTC060083	SHIVSHAKTI COMMUNICATION AND INVESTMENT PRIVATE LIMITED	Director	25/08/2011	25/08/2011	-	Active	NO
18	U74999WB2011PTC168478	STEEL PLANTECH ENGINEERING INDIA PRIVATE LIMITED	Director	13/09/2012	28/11/2011	-	Active	NO
19	U51909WB1989PTC047900	RITESHWARI TRADING AND INVESTMENTS PVT LTD	Director	30/07/2013	30/07/2013	-	Active	NO
20	U52100WB2011PTC158145	PINAKINI MERCANTILE PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
21	U52190WB2011PTC158234	ACHINTYA TRADING PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO
22	U51101WB2010PTC142948	GENUINE DEALCOMM PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO
23	U45400WB2009PTC133461	JAGANNATH ABASAN PRIVATE LIMITED	Director	13/08/2013	13/08/2013	-	Active	NO

Name :

Yoshiyuki Fujiwara

Designation :

Director

Address :

MGT-2401, 8-1, Hoshinocho, Kanagawa-ku, Yokohama 2210035, Japan

Date of Birth/Age :

07.07.1947

Date of Appointment :

13.09.2012

DIN No. :

03593412

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	Company/ LLP Status	Defaulting status
1	U74120MH2011FTC223032	STEEL PLANTECH INDIA PRIVATE LIMITED	Director	14/10/2011	14/10/2011	Active	NO
2	U74999WB2011PTC168478	STEEL PLANTECH ENGINEERING INDIA PRIVATE LIMITED	Director	13/09/2012	28/11/2011	Active	NO

Name :

Yutaka Kuze

Designation :

Director

Address :

4-35-7, Ozenji Hi Gas Hi, Asao-Ku, Kawasaki City 2150013, Japan

Date of Birth/Age :

12.02.1953

Date of Appointment :

13.09.2012

DIN No. :

03627760

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	U74999WB2011PTC168478	STEEL PLANTECH ENGINEERING INDIA PRIVATE LIMITED	Director	13/09/2012	28/11/2011	-	Active	NO

Name :

Yoshihiko Adachi

Designation :

Director

Address :

1003, 10^th Floor, Heritage Hiranandani Gardens, Powai, Mumbai – 400059, Maharashtra, India

Date of Birth/Age :

30.06.1968

Date of Appointment :

31.07.2013

DIN No. :

03630014

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	Company/ LLP Status	Defaulting status
1	U74120MH2011FTC223032	STEEL PLANTECH INDIA PRIVATE LIMITED	Managing director	17/10/2011	14/10/2011	Active	NO
2	U74999WB2011PTC168478	STEEL PLANTECH ENGINEERING INDIA PRIVATE LIMITED	Director	31/07/2013	31/07/2013	Active	NO

Name :

Mr. Gaurav Dalmia

Designation :

Additional Director

Address :

Dalmia House, 20F, Prithvi Raj Road, New Delhi – 110011, India

Date of Birth/Age :

26.09.1965

Date of Appointment :

03.02.2014

DIN No. :

00009639

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	U28991WB1948PTC191241	DALMIA AGENCIES PRIVATE LIMITED	Director	01/01/1984	01/01/1984	17/07/2012	Active	NO
2	U74899DL1980PTC010770	ARTECH INFOSYSTEMS PRIVATE LIMITED	Director	22/09/1992	22/09/1992	17/03/2010	Active	NO
3	U67190MH1992PLC068970	PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED	Director	02/04/1993	02/04/1993	22/03/2010	Active	NO
4	U74899DL1994PLC057651	FIRST CAPITAL INDIA LIMITED	Director	02/03/1994	02/03/1994	-	Active	NO
5	U67120MH1999PTC209227	INFINITY TECHNOLOGY INVESTMENTS PRIVATE LIMITED	Director	07/04/1999	07/04/1999	-	Active	NO
6	U65991MH1999PTC121901	INFINITY TECHNOLOGY TRUSTEE PRIVATE LIMITED	Director	23/09/1999	23/09/1999	-	Active	NO
7	U01909DL1984PLC022836	DEBI KAY SYSTEMS LIMITED	Director	19/07/2001	19/07/2001	-	Active	NO
8	U45201DL2003PTC122238	LANDMARK LAND HOLDINGS PRIVATE LIMITED	Director	29/10/2003	29/10/2003	-	Active	NO
9	U74140DL1996PTC077998	SKYLARK CONSULTANTS (INDIA) PRIVATE LIMITED	Director	01/09/2004	01/09/2004	-	Active	NO
10	U72200DL2004PTC130887	ARTECH STEEL INDUSTRIES PRIVATE LIMITED	Director	01/12/2004	01/12/2004	17/03/2010	Active	NO
11	U67190MH2000PTC123712	INDIA VALUE FUND ADVISORS PRIVATE LIMITED	Director	10/01/2005	10/01/2005	-	Active	NO
12	U67190MH2004PLC150329	CAPITAL FIRST INVESTMENT ADVISORY LIMITED	Director	22/02/2005	22/02/2005	08/12/2007	Active	NO
13	U45201DL2005PTC136590	ASTIR PROPERTIES PRIVATE LIMITED	Director	24/05/2005	24/05/2005	-	Active	NO
14	U45201DL2004PTC129188	ANSAL LANDMARK TOWNSHIPS PRIVATE LIMITED	Director	10/11/2005	10/11/2005	-	Active	NO
15	U45201DL2006PTC146089	VIPUL SEZ DEVELOPERS PRIVATE LTD	Director	19/04/2006	19/04/2006	24/09/2010	Active	NO
16	U70101DL2006PTC148590	GD Securities Private Limited	Director	26/05/2006	26/05/2006	19/04/2008	Active	NO
17	U70109MH2006PTC190933	DAZZLING PROPERTIES PRIVATE LIMITED	Director	26/10/2007	10/08/2006	02/12/2008	Active	NO
18	U70109DL2006PTC151861	FAST TRACK REALTORS PRIVATE LIMITED	Director	10/08/2006	10/08/2006	19/12/2006	Active	NO
19	U70109DL2006PTC152606	Landmark Hi Tech Development Private Limited	Director	28/08/2006	28/08/2006	-	Active	NO
20	U70104DL2006PTC153985	NEW LINE BUILDTECH PRIVATE LIMITED	Director	16/09/2006	16/09/2006	-	Active	NO
21	U70109DL2006PTC155053	TREASURED DEVELOPERS PRIVATE LIMITED	Director	27/10/2006	27/10/2006	19/12/2006	Active	NO
22	U45200DL2007PTC157597	KHUSHHAL DEVELOPERS PRIVATE LIMITED	Director	09/01/2007	09/01/2007	01/01/2008	Active	NO
23	U45200DL2007PTC157640	SAMRIDHI TOWNSHIPS PRIVATE LIMITED	Director	10/01/2007	10/01/2007	05/04/2008	Active	NO
24	U70100PB2005PTC029238	SUKHM INFRASTRUCTURES PRIVATE LIMITED	Director	28/05/2010	12/01/2007	18/09/2012	Active	NO
25	U45200DL2007PTC157944	PLUS ONE REALTORS PRIVATE LIMITED	Director	16/01/2007	16/01/2007	-	Active	NO
26	U70109DL2007PTC158031	MANBHAWAN PROPERTIES PRIVATE LIMITED	Director	17/01/2007	17/01/2007	01/01/2008	Active	NO
27	U70109DL2006PTC152961	NEW LINE DEVELOPERS PRIVATE LIMITED	Director	16/09/2013	07/03/2007	21/03/2014	Active	NO
28	U74140MH2006PTC164125	IVF Advisors Private Limited	Director	21/06/2007	21/06/2007	-	Active	NO
29	U70101OR1982PTC001037	SAFARI RETREATS PVT LTD	Director	30/09/2008	07/08/2007	-	Active	NO
30	U70109DL2007PTC170699	LANDMARK REALTECH PRIVATE LIMITED	Director	23/11/2007	23/11/2007	-	Active	NO
31	L13100DL1976PLC188942	LANDMARK PROPERTY DEVELOPMENT COMPANY LIMITED	Managing director	07/08/2013	29/01/2008	-	Active	NO
32	U45201PN2005PTC020918	KUMAR BUILDERS TOWNSHIP VENTURES PRIVATE LIMITED	Director	29/09/2008	16/06/2008	-	Active	NO
33	U70101PN1993PTC072139	KUMAR URBAN DEVELOPMENT Private Limited	Director	25/09/2009	26/08/2009	08/03/2013	Active	NO
34	L01110MH2006PLC161345	BAJAJ CORP LIMITED	Director	25/06/2010	04/02/2010	-	Active	NO
35	L29299OR1948PLC000713	HARI MACHINES LIMITED.	Director	18/09/2010	11/05/2010	-	Active	NO
36	L26942OR1949PLC000185	OCL INDIA LIMITED	Managing director	17/09/2010	21/07/2010	-	Active	NO
37	U13100WB2010PTC153241	PRO MINERALS PRIVATE LIMITED	Director	30/09/2011	28/09/2010	-	Active	NO
38	U51109WB1990PTC049414	AAYUSH MANUFACTURERS & FINANCIERS PVT.LTD.	Director	09/12/2010	09/12/2010	-	Active	NO
39	U24233WB1996PTC076723	NOBEL CONSULTANCY PVT LTD	Director	09/12/2010	09/12/2010	-	Active	NO
40	U67120WB1995PTC110837	T R INVESTMENTS PRIVATE LIMITED	Director	09/12/2010	09/12/2010	-	Active	NO
41	U27109WB1995PTC067578	KHAITAN UDYOG PVT LTD	Director	09/12/2010	09/12/2010	-	Active	NO
42	U55101DL2010PTC211816	SAMHI HOTELS PRIVATE LIMITED	Director	12/09/2011	13/04/2011	-	Active	NO
43	U18109TN2006PLC061384	RAYMOND APPAREL LIMITED	Director	28/07/2011	27/07/2011	-	Active	NO
44	U51101WB2010PTC142948	GENUINE DEALCOMM PRIVATE LIMITED	Director	18/08/2011	18/08/2011	-	Active	NO
45	U45400WB2009PTC133461	JAGANNATH ABASAN PRIVATE LIMITED	Director	25/08/2011	25/08/2011	-	Active	NO
46	U70100DL2011PTC217081	ANSAL LANDMARK (KARNAL) TOWNSHIP PRIVATE LIMITED	Director	19/06/2012	29/12/2011	-	Active	NO

Name :

Kazuya Yamagishi

Designation :

Additional Director

Address :

6-3-17, Kugenumakaigan, Kanagawa-Ken, Fujisawashi, 2510037

Date of Birth/Age :

20.09.1952

Date of Appointment :

03.02.2014

DIN No. :

06821682

KEY EXECUTIVES

Name :	Mr. Sambit Sarangi
Designation :	Finance Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.07.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Jyotirmoyee International Private Limited, India	192000	40.00
Steel Plantech India Private Limited, India	287520	59.90
JP Steel Plantech Company, Japan	480	0.10
Total	480000	100.00

As on 31.07.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	0.10
Bodies corporate	99.90
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in design, engineering, procurement and installation of equipment for iron and steel making plants.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Bank of Tokyo

· ICICI Bank Limited

· Mizuho Corporate Bank Limited

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee Loan from ICICI Bank	1.802	0.983
SHORT TERM BORROWINGS
Working Capital Loans
Bank of Tokyo-Mitsubishi UFJ Limited	22.500	0.000
Mizuho Corporate Bank Limited	30.000	0.000
Total	54.302	0.983

Banking Relations :	--
Auditors :
Name :	S R B C and Company LLP Chartered Accountants
Address :	22, Camac Street, Block - C, 3^rd Floor, Kolkata – 700016, West Bengal, India
Tel. No. :	91-33-66153400
Fax No. :	91-33-22817750
Income-tax PAN of auditor or auditor's firm :	ABSFS4151K
Holding Company:	Steel Plantech India Private Limited, India
Ultimate Holding Company:	JP Steel Plantech Company, Japan
Joint Venture :	Jyotirmoyee International Private Limited, India
enterprises owned or significantly influenced by key management personnel of their relatives :	· Hari Machines Limited · Hazemag India Private Limited · All Mineral Asia Private Limited · Pro Mineral Private Limited

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
480000	Equity Shares	Rs.10/- each	Rs. 4.800 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4.800	4.800
(b) Reserves & Surplus	(1.883)	(3.841)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2.917	0.959
(3) Non-Current Liabilities
(a) long-term borrowings	1.802	8.983
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.712	0.048
Total Non-current Liabilities (3)	2.514	9.031
(4) Current Liabilities
(a) Short term borrowings	52.500	0.058
(b) Trade payables	70.700	0.036
(c) Other current liabilities	105.330	2.867
(d) Short-term provisions	2.090	0.054
Total Current Liabilities (4)	230.620	3.015
TOTAL	236.051	13.005
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	5.663	1.401
(ii) Intangible Assets	7.102	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.626	1.649
(d) Long-term Loan and Advances	0.196	0.156
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	13.587	3.206
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	25.558	0.000
(c) Trade receivables	107.162	0.000
(d) Cash and cash equivalents	8.590	9.535
(e) Short-term loans and advances	77.189	0.264
(f) Other current assets	3.965	0.000
Total Current Assets	222.464	9.799
TOTAL	236.051	13.005

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	132.747	0.000
		Other Income	3.626	0.000
		TOTAL (A)	136.373	0.000
Less	EXPENSES
		Purchases of traded goods	78.404	0.000
		Increase in Inventories	(25.558)	0.000
		Employees benefits expense	28.103	1.075
		Other expenses	47.986	4.348
		TOTAL (B)	128.935	5.423
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		7.438	(5.423)
Less	FINANCIAL EXPENSES (D)		1.426	0.048
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.012	(5.471)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.031	0.019
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2.981	(5.490)
Less	TAX (H)		1.023	(1.649)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		1.958	(3.841)
	EARNINGS IN FOREIGN CURRENCY
		Export of Services	20.543	0.000
		Other Income	3.650	0.000
	TOTAL EARNINGS		24.193	0.000
	Earnings / (Loss) Per Share (Rs.)		4.08	(10.89)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
PAT / Total Income	(%)	1.44	0.00
Net Profit Margin (PBT/Sales)	(%)	2.25	0.00
Return on Total Assets (PBT/Total Assets}	(%)	1.27	(48.34)
Return on Investment (ROI) (PBT/Networth)		1.02	(5.72)
Debt Equity Ratio (Total Debt/Networth)		18.62	9.43
Current Ratio (Current Asset/Current Liability)		0.96	3.25

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	4.800	4.800
Reserves & Surplus	(3.841)	(1.883)
Net worth	0.959	2.917
long-term borrowings	8.983	1.802
Short term borrowings	0.058	52.500
Total borrowings	9.041	54.302
Debt/Equity ratio	9.428	18.616

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two 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	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	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Steel Plantech India Private Limited (Holding Company)	0.000	4.800
Jyotirmoyee International Private Limited (Joint Venture)	0.000	3.200
SHORT TERM BORROWINGS
Interest free loan from related party repayable on demand	0.000	0.058
Total	0.000	8.058

CORPORATE INFORMATION

The company is a private company domiciled in India and incorporated under the provision of the Companies Act, 1956. It is a Joint Venture, by virtue of the contract, between Steel Plantech India Private Limited, Jyotirmoyee International Private Limited, JP Steel Plantech Co. Japan and Hari Machines Limited. The Company was incorporated on 13th October, 2011. The Company is engaged in design, engineering, procurement and installation of equipment for iron and steel making plants.

FUTURE OUTLOOK OF THE COMPANY

JP Steel Plantech Co., Japan wanted to have Marketing and Engineering subsidiary in India based at Mumbai and Kolkata to expand its horizon through developing technology for global industry. Accordingly, Steel Plantech Engineering India Private Limited (SPEI) was established in November, 2011 as joint venture Company with JP Steel PIantech Co., Japan (SPCO) to share responsibility sales and marketing, detailed design and engineering, 111anufacturing and supply of plant and equipment based on technology of SPCO for steel processing Iines, long product bar/rod mill, steel melting, Sinter plant, Coke dry Quenching etc. As per MOU between SPCO and SPEI, Hari Machines Limited (HML), an in-house manufacturing unit of SPEI, shall manufacture most of proprietary equipment under a project being executed jointly by SPCO and SPEI.

SPCO has already been awarded few contracts of design, manufacture and supply of machineries/ electrics and instrument for processing lines in India such as 2 nos. continuous Annealing Line and 1 no. continuous Galvanizing Line for JSW Steel Limited, Vidyanagar Works, Karnataka and 1 no. Annealing and Coating Line for China Steel Corporation India (CSCI), Gujarat for which detail design and engineering, manufacturing and purchasing / fabrication of equipment, bought out items, duct and support structure etc. are being carried out by SPEI as joint venture partner of SPCO. SPCO has further been awarded in February, 2013 with design and engineering, manufacturing and supply of JSW – KR (desulphurization of steel in SMS-2 shop) which is being executed by SPEI as joint venture partner of SPCO. More stress is being given for participation in various tenders of steel industries in the field of steel processing to establish a solid business foundation through acquisition of more contracts. A few of them under advanced stage of finalization for ordering are ‘CDQ’ JSW-ISPAT, JAZ, JSW CGL, Scarfing facility, JSW, Secondary emission in SMS, Bhilai, etc.

The future road map to success for SPEI seems to be most encouraging where HML will play a pivotal role in the middle between SPCO and SPEI and will function as main manufacturing unit.

FIXED ASSETS

· Furniture and Fixtures

· Vehicles

· Office Equipments

· 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.60.27
UK Pound	1	Rs.101.10
Euro	1	Rs.83.74

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUM
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.