MIRA INFORM REPORT

Report Date :

30.04.2014

IDENTIFICATION DETAILS

Name :	RUNGTA SONS PRIVATE LIMITED
Registered Office :	8 A, Express Tower, 42 A, Shakespeare Sarani, Kolkata – 700017, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.03.1943
Com. Reg. No.:	21-011231
Capital Investment / Paid-up Capital :	Rs.245.754 Millions
CIN No.: [Company Identification No.]	U02005WB1943PTC011231
PAN No.: [Permanent Account No.]	AABCR2356N
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged primarily in the business of purchases, production and sales of minerals.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

A (59)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 76000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is an established company having good track record. Fundaments of the company is decent. Financial position of the company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Long Term Rating = AA-
Rating Explanation	High degree of safety and very low credit risk
Date	02.08.2013

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 DENIED BY

Name :	Mr. Ashitosh Mohanti
Designation :	Accounts Department
Contact No.:	91-6582-256861
Date :	21.04.2014

LOCATIONS

Registered Office :	8A Express Tower 42 A, Shakespeare Sarani, Kolkata – 700017, West Bengal, India
Tel. No.:	91-33-22816580
Fax No.:	91-33-22815380
E-Mail :	rungtas@satyam.net.in

DIRECTORS

As on 30.09.2013

Name :

Mr. Nandlal Rungta

Designation :

Director

Address :

Rungta House, Chaibasa, Singhbhum (West), Jharkhand – 833201, Uttar Pradesh, India

Date of Birth/Age :

05.04.1950

Date of Appointment :

08.03.1987

DIN No.:

00114135

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	U45201OR1958NPL008546	EASTERN ZONE MINING ASSOCIATION	Director	03/08/1979	03/08/1979	13/11/2009	Active	NO
2	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	05/01/1983	05/01/1983	-	Active	NO
3	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	15/10/1984	15/10/1984	-	Active	NO
4	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Managing director	01/04/2012	07/01/1985	-	Active	NO
5	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	08/03/1987	08/03/1987	-	Active	NO
6	U65993WB1940PLC010354	MINERALS AND METALS LIMITED	Director	26/06/1992	26/06/1992	-	Active	NO
7	U70101WB1951PTC019809	MANGILALL ESTATES PRIVATE LIMITED	Director	30/06/1992	30/06/1992	-	Active	NO
8	U24117OR1978PLC000753	ELECTROCHEM ORISSA LIMITED	Director	07/09/1992	07/09/1992	-	Active	NO
9	U51420OR1994PLC003707	BANSPANI IRON LIMITED	Managing director	01/04/2013	16/09/1994	-	Active	NO
10	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	02/12/1995	02/12/1995	-	Active	NO
11	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
12	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
13	U85100OR2009NPL011422	EZMA FOUNDATION	Director	16/12/2009	16/12/2009	-	Active	NO
14	U92410JH2012NPL000254	COUNTRY CRICKET CLUB	Director	07/03/2012	07/03/2012	-	Active	NO

Name :

Mr. Mukund Rungta

Designation :

Director

Address :

Rungta House, Chaibasa, Singhbhum (West), Jharkhand – 833201, Uttar Pradesh, India

Date of Birth/Age :

14.01.1958

Date of Appointment :

14.02.2011

DIN No.:

00072640

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	U24117OR1978PLC000753	ELECTROCHEM ORISSA LIMITED	Director	08/08/1984	08/08/1984	-	Active	NO
2	U65993WB1940PLC010354	MINERALS AND METALS LIMITED	Director	05/09/1985	05/09/1985	-	Active	NO
3	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	26/06/1992	26/06/1992	-	Active	NO
4	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Managing director	26/02/2011	27/06/1992	-	Active	NO
5	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	29/06/1992	29/06/1992	-	Active	NO
6	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	14/02/2011	30/06/1992	-	Active	NO
7	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Director	07/02/2011	30/06/1992	-	Active	NO
8	U70101WB1951PTC019809	MANGILALL ESTATES PRIVATE LIMITED	Director	30/06/1992	30/06/1992	-	Active	NO
9	U51420OR1994PLC003707	BANSPANI IRON LIMITED	Director	26/10/2002	26/10/2002	-	Active	NO
10	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	08/02/2008	-	Active	NO
11	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	08/02/2008	-	Active	NO

Name :

Mr. Siddharth Rungta

Designation :

Director

Address :

Rungta House, Chaibasa, Singhbhum (West), Jharkhand – 833201, Uttar Pradesh, India

Date of Birth/Age :

15.07.1977

Date of Appointment :

04.05.2005

DIN No.:

00112057

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	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Director	07/02/2011	03/07/2001	-	Active	NO
2	L67120WB1993PLC057677	ORISSA SECURITIES LIMITED	Director	12/11/2001	12/11/2001	-	Active	NO
3	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	04/02/2002	04/02/2002	-	Active	NO
4	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	30/04/2005	30/04/2005	-	Active	NO
5	U70101WB1951PTC019809	MANGILALL ESTATES PRIVATE LIMITED	Director	03/05/2005	03/05/2005	-	Active	NO
6	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	07/02/2011	04/05/2005	-	Active	NO
7	U65993WB1940PLC010354	MINERALS AND METALS LIMITED	Director	04/05/2005	04/05/2005	-	Active	NO
8	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	04/05/2005	04/05/2005	-	Active	NO
9	U45203OR2006PLC008959	HARIDASPUR PARADIP RAILWAY COMPANY LIMITED	Nominee director	15/05/2007	15/05/2007	-	Active	NO
10	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
11	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
12	U10100JH2008PTC013329	C T MINING PRIVATE LIMITED	Nominee director	25/09/2008	25/09/2008	-	Active	NO
13	U10100WB2009PTC138134	MEDNIRAI COAL MINING PRIVATE LIMITED	Nominee director	01/09/2009	01/09/2009	-	Active	NO
14	U74899DL1969NPL005064	FEDERATION OF INDIA MINERAL INDUSTRIES	Director	28/10/2009	28/10/2009	-	Active	NO
15	U10100OR2010PTC011795	RADHIKAPUR (WEST) COAL MINING PRIVATE LIMITED	Nominee director	29/03/2010	29/03/2010	-	Active	NO
16	U74899WB1995PTC165878	HOLLY HOCK FARMS PRIVATE LIMITED	Director	14/06/2011	26/07/2010	-	Active	NO
17	U74899WB1995PTC165792	COLUMBINE FARMS PRIVATE LIMITED	Director	14/06/2011	26/07/2010	-	Active	NO
18	U85199WB1996PTC167219	ARAVALI HEALTH FARM PRIVATE LIMITED	Director	14/06/2011	26/07/2010	-	Active	NO
19	U14290DL2013NPL261671	SKILL COUNCIL FOR MINING SECTOR	Director	06/12/2013	06/12/2013	-	Active	NO

Name :

Mr. Mahesh Dutt Rustagi

Designation :

Director

Address :

Punjabi Para, Bhola Garage Road, Barbil, keonjhar – 758035, Orissa, India

Date of Birth/Age :

01.09.1940

Date of Appointment :

02.08.2008

DIN No.:

01219014

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	U51420OR1994PLC003707	BANSPANI IRON LIMITED	Director	25/06/1997	25/06/1997	-	Active	NO
2	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	04/02/2008	10/01/2008	-	Active	NO
3	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	02/08/2008	12/01/2008	-	Active	NO
4	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	02/08/2008	12/01/2008	-	Active	NO
5	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Whole-time director	12/01/2008	12/01/2008	-	Active	NO
6	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	01/09/2012	05/10/2011	-	Active	NO

Name :

Mr. Hari Prasad Sakunia

Designation :

Director

Address :

9, Crooked Lane, 3^rd Floor, Kolkata – 700069, West Bengal, India

Date of Birth/Age :

12.08.1944

Date of Appointment :

13.08.2011

DIN No.:

00719709

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	L67120WB1993PLC057677	ORISSA SECURITIES LIMITED	Director	12/11/2001	12/11/2001	-	Active	NO
2	U51909WB2005PTC102512	GENESIS DISTRIBUTORS PRIVATE LIMITED	Director	22/06/2006	22/06/2006	-	Active	NO
3	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
4	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
5	U52390WB2010PTC142397	RAMESHWAR DEALERS PRIVATE LIMITED	Director	02/02/2011	02/02/2011	-	Active	NO
6	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	13/08/2011	14/02/2011	-	Active	NO
7	U60231WB1996PLC077174	MOBAR INDIA LIMITED	Director	03/08/2012	11/05/2011	-	Active	NO

Name :

Mr. Deo Kumar Singh

Designation :

Director

Address :

C/O Rungta Sons private Limited, P O Chaibasa, Singhbhum (West), Jharkhand – 833201, Uttar Pradesh, India

Date of Birth/Age :

15.02.1941

Date of Appointment :

14.02.2011

DIN No.:

03457432

Name :

Mr. Ashutosh Mohanty

Designation :

Director

Address :

2A, Diamond, Padma Enclave, Singhbhum (West), Jharkhand – 833201, Uttar Pradesh, India

Date of Birth/Age :

16.06.1972

Date of Appointment :

03.09.2012

DIN No.:

02219702

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	U10100JH2008PTC013329	C T MINING PRIVATE LIMITED	Nominee director	25/09/2008	25/09/2008	-	Active	NO
2	U10100WB2009PTC138134	MEDNIRAI COAL MINING PRIVATE LIMITED	Nominee director	01/09/2009	01/09/2009	-	Active	NO
3	U10100OR2010PTC011795	RADHIKAPUR (WEST) COAL MINING PRIVATE LIMITED	Nominee director	29/03/2010	29/03/2010	-	Active	NO
4	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	23/09/2011	26/02/2011	-	Active	NO
5	U60231WB1996PLC077174	MOBAR INDIA LIMITED	Director	03/08/2012	11/05/2011	-	Active	NO
6	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	03/09/2012	16/05/2012	-	Active	NO
7	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	03/09/2012	16/05/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ashitosh Mohanti
Designation :	Accounts Department

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares	% of Holding
Sitaram Rungta (HUF)	19680000	8.01
Nandlal Rungta (HUF)	79458000	32.33
Mukund Rungta (HUF)	34440000	14.01
Nandlal Rungta	25338000	10.31
Mukund Rungta	41082000	16.72
Ddharth Rungta	984000	0.40
Manju Rungta	30750000	12.51
Preeti Rungta	13038000	5.31
Shradha Rungta	984000	0.40
Total	245754000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged primarily in the business of purchases, production and sales of minerals.

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· State Bank of India, Chaibasa, Dist. West Singhbhum, Chaibasa-833201, Jharkhand, Uttar Pradesh, India

· Canara Bank, Jain market, Sadar Bazar, Chaibasa – 833201, Jharkhand, Uttar Pradesh, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term loan form bank	0.000	57.000
Short Term Borrowings
Working capital loans from banks	719.377	73.574
Loans repayable on demand from banks	917.235	186.622
Total	1636.612	317.196

Long term borrowings :

a. Canara Bank (Term Loan) - I (Secured by hypothecation of Wagon Rake along with wheel set, payable in 20 quaterly instalments of Rs.14.250 Millions, Rate of interest - Base rate +1% , Maturity on January 2013, Instalment left but not due - Nil)

b. Canara Bank (Term Loan) - II (Secured by hypothecation of Wagon Rake along with wheel set, payable in 20 quaterly instalments of Rs.28.500 Millions Rate of interest - BPLR -2.75%, Maturity on September 2013, Instalment left but not due - 2)

c. State Bank of India (Term Loan) (Secured by hypothecation of Wagon Rake, along with wheel set, payable in 20 quaterly instalments of Rs.9.500 Millions. Rate of interest - SBAR -1.75%. Maturity on September 2012, Instalment left but not due - Nil)

d. All the above amount are further secured by the Personnal Guarantee of two Directors.

Short Term Borrowings

a. Canara Bank Packing Credit (Secured by hypothecation of Iron Ore Stock meant for Export)

b. Canara Bank Foreign Bill Purchased (Secured by hypothecation of Export receivables against bill purchased)

c. Canara Bank (Over Draft) (Secured by pledging of Fixed Deposits.)

d. State Bank of India (Over Draft) (Secured by pledging of Fixed Deposits)

e. All the above amount except overdraft facility are further secured by the Personnal Guarantee of two Directors.

Banking Relations :	--
Auditors :
Name :	K N Gutgutia and Company Chartered Accountant
Address :	6 C Middleton Street, Flat No. 23, 2^nd Floor, Kolkata – 700071, West Bengal, India
PAN No.:	AACFK6448G
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Rungta Mines Limited CIN No.: U26911WB1962PLC025691 · Mangilall Estates Private Limited CIN No.: U70101WB1951PTC019809 · Feegrade and Company Private Limited CIN No.: U10200WB1964PTC026218 · Bonai Industrial Company Limited CIN No.: U14109OR1939PLC000246 · Shyam Sundar Limited CIN No.: U51909WB1951PLC019815

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
500000000	Equity Shares	Re.1/- each	Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
245754000	Equity Shares	Re.1/- each	Rs.245.754 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	245.754	245.754	245.754
(b) Reserves & Surplus	18,831.963	14,656.795	10,408.631
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	19,077.717	14,902.549	10,654.385
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	57.000	223.683
(b) Deferred tax liabilities (Net)	71.149	77.929	81.981
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	71.149	134.929	305.664
(4) Current Liabilities
(a) Short term borrowings	1,636.612	260.196	689.913
(b) Trade payables	290.221	149.277	392.532
(c) Other current liabilities	328.592	482.979	741.234
(d) Short-term provisions	111.063	336.015	243.697
Total Current Liabilities (4)	2,366.488	1,228.467	2,067.376
TOTAL	21,515.354	16,265.945	13,027.425
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1,695.157	1,442.664	1,522.438
(ii) Intangible Assets	0.712	0.648	0.364
(iii) Capital work-in-progress	0.982	264.172	135.760
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	40.205	40.155	40.105
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	24.261	141.228	129.305
(e) Other Non-current assets	1,162.354	1,623.099	38.254
Total Non-Current Assets	2,923.671	3,511.966	1,866.226
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	322.290	337.227	417.694
(c) Trade receivables	1,568.188	642.436	1,285.596
(d) Cash and cash equivalents	14,449.105	11,196.226	8,230.962
(e) Short-term loans and advances	464.737	235.483	150.104
(f) Other current assets	1,787.363	342.607	1,076.843
Total Current Assets	18,591.683	12,753.979	11,161.199
TOTAL	21,515.354	16,265.945	13,027.425

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	INCOME		NA	NA	NA
	EXPENSES		NA	NA	NA
	PROFIT/(LOSS) BEFORE TAX		6320.090	6434.683	5802.185
Less	TAX		2059.520	2097.647	1963.482
	PROFIT/(LOSS) AFTER TAX		4260.570	4337.036	3838.703
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		12503.417	8898.722	5771.734
Less	APPROPRIATIONS
		Transfer to General Reserve	632.009	643.468	580.200
		Proposed Dividend	73.726	73.727	73.726
		Tax on Dividend	11.675	11.676	12.245
		Provision for income tax	0.000	3.470	45.544
	BALANCE CARRIED TO THE B/S		16046.577	12503.417	8898.722
	Earnings Per Share (Rs.)		17.34	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	29.43	40.31	45.15
Return on Investment (ROI) (PBT/Networth)		0.33	0.43	0.54
Debt Equity Ratio (Total Debt /Networth)		0.09	0.02	0.09
Current Ratio (Current Asset/Current Liability)		7.86	10.38	5.40

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	245.754	245.754	245.754
Reserves & Surplus	10408.631	14656.795	18831.963
Net worth	10654.385	14902.549	19077.717
long-term borrowings	223.683	57.000	0.000
Short term borrowings	689.913	260.196	1636.612
Total borrowings	913.596	317.196	1636.612
Debt/Equity ratio	0.086	0.021	0.086

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 three years	No
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	Yes
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	Yes

LITIGATION DETAILS:

Case Status     :   Pending

Status of        INCOME TAX APPEAL (ITA) 25  of  2012 COMMISSIONER OF INCOME TAX, KOLKATA - II   

  Vs.   M/S RUNGTA SONS (P) LIMITED

Pet's Adv.        :   S S SARKAR                   

Res's Adv.       :  

Court No.        :   19     Last Listed On :  Monday, February 13, 2012

Category          :   INCOME TAX : REVENUE

Case Updated on:   Friday, February 17, 2012

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10213338	31/03/2010	20,000,000.00	Canara Bank	Jain Market, Sadar Bazar, Chaibasa, Jharkhand - 833201, India	A83576363
2	80021384	11/01/2012 *	1,900,000,000.00	Canara Bank	Jain Market, Sadar Bazar, Chaibasa, Jharkhand - 833201, India	B32096869

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.60.33
UK Pound	1	Rs.101.41
Euro	1	Rs.83.38

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUM
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	6
FINANCIAL CONDITION		0
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		59

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NB		NEW BUSINESS

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.