MIRA INFORM REPORT

Report Date :

18.08.2014

IDENTIFICATION DETAILS

Name :	SHYAM STEEL INDUSTRIES LIMITED

Formerly Known As :	SHYAM SHREE STEELS LIMITED

Registered Office :	EN 32, Sector – V, Salt Lake City, Kolkata – 700 091, West Bengal

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	08.03.2002

Com. Reg. No.:	21-094339

Capital Investment / Paid-up Capital :	Rs. 65.000 Millions

CIN No.: [Company Identification No.]	U27100WB2002PLC094339

TAN No.: [Tax Deduction & Collection Account No.]	CALS09603G

PAN No.: [Permanent Account No.]	AAGCS3838R

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	The company is engaged in the business of manufacturing value added products including Hot Rolled Steel Products, Sponge Iron, Billets / Blooms and Melting and Misroll. In addition, the Company generates Power mainly for its captive use

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Exist

Comments :	Subject is an established company having moderate track. The Company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for business dealings 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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

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

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years. China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies. A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 31-03-2014.

INFORMATION DENIED

Management Non co operative (91-33-40074007)

LOCATIONS

Registered Office :	EN 32, Sector – V, Salt Lake City, Kolkata – 700 091, West Bengal, India
Tel. No.:	91-33-40074007
Fax No.:	91-33-40074010
E-Mail :	marketing@shyamsteel.com export@shyamsteel.com pc@shyamsteel.com finance@shyamsteel.com
Website :	www.shyamsteel.com

Manufacturing Facilities :	Located at Durgapura and Howrah, West Bengal, India

Branches :	Located At : · Andhra Pradesh · Assam · Chhattisgarh · Delhi · Haryana · Karnataka · Orissa · Tamil Nadu · Uttar Pradesh · Kerala

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Purushottam Beriwala

Designation :

Director

Address :

CJ - 222, Salt Lake City, Sector ll, Kolkata – 700091, West Bengal, India

Date of Birth/Age :

08.08.1960

Date of Appointment :

08.03.2002

Voter ID No. :

WB-20-139-732515

DIN No. :

00006215

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	U51109WB1992PTC056738	BRIGHT HORIZON IMPEX PRIVATE LIMITED	Director	21/05/1999	21/05/1999	-	Amalgamated	NO
2	U65999WB1985PTC039875	SAJAN FINANCIERS AND COMMERCIALS PRIVATE LIMITED	Director	15/01/2001	15/01/2001	-	Active	NO
3	U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Director	01/01/2013	08/03/2002	-	Active	NO
4	U27101WB2002PTC094472	SGI ISPAT PRIVATE LIMITED	Director	05/04/2002	05/04/2002	01/04/2008	Active	NO
5	U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	02/05/2006	02/05/2006	25/03/2011	Active	NO
6	U01403WB2006PTC110700	SHYAMSREE AGRO COMMODITIES PRIVATE LIMITED	Director	20/07/2006	20/07/2006	27/12/2012	Active	NO
7	U70101WB2006PTC110737	LAKEVIEW BUILDERS PRIVATE LIMITED	Director	24/07/2006	24/07/2006	30/11/2012	Active	NO
8	U24121WB1975PTC030089	DIN CHEMICALS & COATINGS PRIVATE LIMITED	Director	12/04/2007	12/04/2007	30/11/2012	Active	NO
9	U27100WB2007PTC115235	SHYAM STEEL METALLICS Private Limited	Director	18/04/2007	18/04/2007	24/06/2013	Active	NO
10	U45400WB2007PTC116138	PUSPA NIKETAN PRIVATE LIMITED	Director	28/05/2007	28/05/2007	30/11/2012	Active	NO
11	U27102WB2002PTC095374	SHREEGOPAL HI-TECH PRIVATE LIMITED	Director	12/06/2007	12/06/2007	-	Amalgamated	NO
12	U67120WB2006PTC112242	Yashashvi Securities Private Limited	Director	27/09/2008	31/08/2007	-	Active	NO
13	U51109WB2005PTC106571	VICTOR VANIJYA PRIVATE LIMITED	Additional director	12/10/2007	12/10/2007	-	Amalgamated	NO
14	U70101WB2005PTC104566	LIBERAL HOUSING PRIVATE LIMITED	Additional director	12/10/2007	12/10/2007	-	Amalgamated	NO
15	U01134WB2010PTC145281	PB FARM HOUSE PRIVATE LIMITED	Director	15/04/2010	15/04/2010	01/01/2013	Active	NO
16	U40109WB2010PTC154127	SHYAMSTEEL POWER PRIVATE LIMITED	Director	18/10/2010	18/10/2010	01/01/2013	Active	NO
17	U40105WB2010PTC154125	SHYAMSTEEL ENERGY PRIVATE LIMITED	Director	18/10/2010	18/10/2010	-	Active	NO
18	U01119WB2010PTC154124	SHYAMSTEEL AGRO PRIVATE LIMITED	Director	18/10/2010	18/10/2010	-	Active	NO
19	U52190WB2010PTC155464	VAIKUNTHA TRADECOM PRIVATE LIMITED	Director	07/12/2010	07/12/2010	30/11/2012	Active	NO
20	U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10/01/2011	10/01/2011	30/11/2012	Active	NO
21	U28999WB1991PLC051823	SOVA ISPAT LIMITED	Whole-time director	01/01/2013	10/01/2011	-	Active	NO
22	U52190WB2011PTC168098	DAKSHA TIE-UP PRIVATE LIMITED	Director	23/09/2011	23/09/2011	-	Active	NO
23	U52190WB2011PTC168116	BRIGHT DEALTRADE PRIVATE LIMITED	Director	26/09/2011	26/09/2011	-	Active	NO
24	U52190WB2011PTC168114	ANANT VINTRADE PRIVATE LIMITED	Director	26/09/2011	26/09/2011	-	Active	NO
25	U52190WB2011PTC168103	AVANEESH DEALMARK PRIVATE LIMITED	Director	26/09/2011	26/09/2011	-	Active	NO
26	U52190WB2012PTC174461	MOONVIEW TIE-UP PRIVATE LIMITED	Director	27/09/2013	05/11/2012	-	Active	NO
27	U52190WB2012PTC174459	ARYADEEP TRADELINK PRIVATE LIMITED	Director	26/09/2013	05/11/2012	-	Active	NO
28	U52190WB2012PTC181674	LINKSTAR VYAPAAR PRIVATE LIMITED	Director	30/09/2013	05/11/2012	-	Active	NO
29	U74140WB2004PTC099555	VANLILA CONSULTANTS PRIVATE LIMITED	Director	05/09/2013	30/11/2012	-	Active	NO
30	U52190WB2012PTC174460	KAMALDHAN VINTRADE PRIVATE LIMITED	Director	26/09/2013	30/11/2012	-	Active	NO
31	U52190WB2012PTC181672	FOREMOST TIE-UP PRIVATE LIMITED	Director	30/09/2013	30/11/2012	-	Active	NO
32	U15541WB2010PTC154689	Shyamsree Food Processing Private Limited	Director	26/09/2013	27/12/2012	-	Active	NO

Name :

Mr. Govind beriwal

Designation :

Whole-time director

Address :

CF – 370 , Salt Lake City, Sector l, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

09.03.1963

Date of Appointment :

01.04.2005

Voter ID No. :

WB-20-139-732024

DIN No. :

00006100

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	U65999WB1985PTC039875	SAJAN FINANCIERS AND COMMERCIALS PRIVATE LIMITED	Director	02/02/2001	02/02/2001	05/11/2012	Active	NO
2	U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Whole-time director	01/04/2013	01/04/2005	-	Active	NO
3	U27310WB2005PTC102936	RANCHI CASTINGS PRIVATE LIMITED	Director	04/05/2005	04/05/2005	30/11/2012	Active	NO
4	U51909WB2005PTC103002	ADARSH TIE-UP PRIVATE LIMITED	Director	06/05/2005	06/05/2005	-	Amalgamated	NO
5	U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	25/05/2005	25/05/2005	31/03/2011	Active	NO
6	U70101WB2006PTC109018	MANGALAM MANSION PRIVATE LIMITED	Director	20/04/2006	20/04/2006	30/11/2012	Active	NO
7	U45201WB2006PTC109007	VASUDEO ENCLAVE PRIVATE LIMITED	Director	20/04/2006	20/04/2006	30/11/2012	Active	NO
8	U70101WB2006PTC109019	SWASTIKA MANSION PRIVATE LIMITED	Director	20/04/2006	20/04/2006	30/11/2012	Active	NO
9	U45201WB2006PTC109008	SREENATH PROMOTERS PRIVATE LIMITED	Director	20/04/2006	20/04/2006	30/11/2012	Active	NO
10	U70101WB2006PTC109020	LOTUS MANSION PRIVATE LIMITED	Director	20/04/2006	20/04/2006	30/11/2012	Active	NO
11	U74140WB2006PTC109267	SHYAM TECHNICAL SERVICES PRIVATE LIMITED	Director	10/05/2006	10/05/2006	30/11/2012	Active	NO
12	U70101WB2006PTC109914	SHYAMSREE INFRASTRUCTURE PRIVATE LIMITED	Director	14/06/2006	14/06/2006	30/11/2012	Active	NO
13	U70101WB2006PTC109929	SHYAMSREE DEVELOPERS PRIVATE LIMITED	Director	14/06/2006	14/06/2006	30/11/2012	Active	NO
14	U70101WB2006PTC109907	SHYAM MANSION PRIVATE LIMITED	Director	14/06/2006	14/06/2006	20/12/2011	Active	NO
15	U70101WB2006PTC110693	SHYAMSHREE ENCLAVE PRIVATE LIMITED	Director	20/07/2006	20/07/2006	27/12/2012	Active	NO
16	U70101WB2006PTC110743	KONARK HIRISE PRIVATE LIMITED	Director	27/01/2007	27/01/2007	27/12/2012	Active	NO
17	U27100WB2007PTC115235	SHYAM STEEL METALLICS Private Limited	Director	18/04/2007	18/04/2007	-	Active	NO
18	U67120WB2006PTC112242	Yashashvi Securities Private Limited	Director	27/09/2008	31/08/2007	-	Active	NO
19	U51109WB2005PTC102381	AMBITION VINIMAY PRIVATE LIMITED	Additional director	12/10/2007	12/10/2007	-	Amalgamated	NO
20	U51109WB2005PTC105649	GRIN TIE-UP PRIVATE LIMITED	Additional director	12/10/2007	12/10/2007	-	Amalgamated	NO
21	U14219WB2008PTC128692	SHYAM MINERAL RESOURCES PRIVATE LIMITED	Director	22/08/2008	22/08/2008	30/11/2012	Active	NO
22	U51909WB1992PLC054881	SHRI JAGANNATH STEELS & POWER LIMITED	Director	22/09/2009	20/08/2009	25/11/2011	Active	NO
23	U70100WB2010PTC145309	GB RESORTS PRIVATE LIMITED	Director	16/04/2010	16/04/2010	27/12/2012	Active	NO
24	U51909WB2009PTC135163	UNICON VYAPAAR PRIVATE LIMITED	Director	30/09/2010	19/05/2010	30/11/2012	Active	NO
25	U74900WB2010PTC153339	SHYAM ANALYTICAL LABS PRIVATE LIMITED	Director	23/09/2010	23/09/2010	-	Active	NO
26	U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10/01/2011	10/01/2011	30/11/2012	Active	NO
27	U52190WB2012PLC174462	PANCHSHREE TIE-UP LIMITED	Director	20/02/2012	20/02/2012	01/03/2012	Active	NO
28	U52190WB2012PTC174461	MOONVIEW TIE-UP PRIVATE LIMITED	Director	20/02/2012	20/02/2012	05/11/2012	Active	NO
29	U52190WB2012PTC174460	KAMALDHAN VINTRADE PRIVATE LIMITED	Director	20/02/2012	20/02/2012	30/11/2012	Active	NO
30	U52190WB2012PTC174459	ARYADEEP TRADELINK PRIVATE LIMITED	Director	20/02/2012	20/02/2012	05/11/2012	Active	NO

Name :

Mr. Lalit Beriwala

Designation :

Whole-time director

Address :

IB - 185, Salt Lake City, Sector lll, Kolkata – 700106, West Bengal, India

Date of Birth/Age :

14.12.1968

Date of Appointment :

08.03.2002

Voter ID No. :

WB-20-139-732023

DIN No. :

00006198

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	U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Whole-time director	01/04/2013	08/03/2002	-	Active	NO
2	U27310WB2005PTC102936	RANCHI CASTINGS PRIVATE LIMITED	Director	04/05/2005	04/05/2005	01/01/2013	Active	NO
3	U51909WB2005PTC103002	ADARSH TIE-UP PRIVATE LIMITED	Director	06/05/2005	06/05/2005	-	Amalgamated	NO
4	U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	25/05/2005	25/05/2005	-	Active	NO
5	U45201WB2006PTC109007	VASUDEO ENCLAVE PRIVATE LIMITED	Director	20/04/2006	20/04/2006	27/12/2012	Active	NO
6	U70101WB2006PTC109019	SWASTIKA MANSION PRIVATE LIMITED	Director	20/04/2006	20/04/2006	27/12/2012	Active	NO
7	U45201WB2006PTC109008	SREENATH PROMOTERS PRIVATE LIMITED	Director	20/04/2006	20/04/2006	27/12/2012	Active	NO
8	U70101WB2006PTC109018	MANGALAM MANSION PRIVATE LIMITED	Director	20/04/2006	20/04/2006	27/12/2012	Active	NO
9	U70101WB2006PTC109020	LOTUS MANSION PRIVATE LIMITED	Director	20/04/2006	20/04/2006	27/12/2012	Active	NO
10	U74140WB2006PTC109267	SHYAM TECHNICAL SERVICES PRIVATE LIMITED	Director	10/05/2006	10/05/2006	27/12/2012	Active	NO
11	U70101WB2006PTC109914	SHYAMSREE INFRASTRUCTURE PRIVATE LIMITED	Director	14/06/2006	14/06/2006	27/12/2012	Active	NO
12	U70101WB2006PTC109929	SHYAMSREE DEVELOPERS PRIVATE LIMITED	Director	14/06/2006	14/06/2006	27/12/2012	Active	NO
13	U70101WB2006PTC109907	SHYAM MANSION PRIVATE LIMITED	Director	14/06/2006	14/06/2006	17/01/2012	Active	NO
14	U70101WB2006PTC110712	SHYAMSHREE NIKETAN PRIVATE LIMITED	Director	21/07/2006	21/07/2006	27/12/2012	Active	NO
15	U27100WB2007PTC115235	SHYAM STEEL METALLICS Private Limited	Director	18/04/2007	18/04/2007	-	Active	NO
16	U74140WB2004PTC099555	VANLILA CONSULTANTS PRIVATE LIMITED	Director	05/09/2013	01/08/2007	-	Active	NO
17	U51109WB2005PTC103233	RAMTECH VANIJYA PRIVATE LIMITED	Additional director	12/10/2007	12/10/2007	-	Amalgamated	NO
18	U14219WB2008PTC128692	SHYAM MINERAL RESOURCES PRIVATE LIMITED	Director	22/08/2008	22/08/2008	27/12/2012	Active	NO
19	U51909WB1992PLC054881	SHRI JAGANNATH STEELS & POWER LIMITED	Director	22/09/2009	20/08/2009	15/06/2013	Active	NO
20	U73100WB2009PTC138299	TCP Marketing & Research Private Limited	Director	08/09/2009	08/09/2009	27/12/2012	Active	NO
21	U01403WB2010PTC144799	SSB ESTATE PRIVATE LIMITED	Director	05/04/2010	05/04/2010	30/11/2012	Active	NO
22	U74900WB2010PTC153339	SHYAM ANALYTICAL LABS PRIVATE LIMITED	Director	23/09/2010	23/09/2010	27/12/2012	Active	NO
23	U40109WB2010PTC154127	SHYAMSTEEL POWER PRIVATE LIMITED	Director	18/10/2010	18/10/2010	-	Active	NO
24	U40105WB2010PTC154125	SHYAMSTEEL ENERGY PRIVATE LIMITED	Director	18/10/2010	18/10/2010	-	Active	NO
25	U01119WB2010PTC154124	SHYAMSTEEL AGRO PRIVATE LIMITED	Director	18/10/2010	18/10/2010	27/12/2012	Active	NO
26	U15541WB2010PTC154689	Shyamsree Food Processing Private Limited	Director	16/11/2010	16/11/2010	-	Active	NO
27	U28999WB1991PLC051823	SOVA ISPAT LIMITED	Director	30/09/2011	10/01/2011	-	Active	NO
28	U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10/01/2011	10/01/2011	27/12/2012	Active	NO
29	U52190WB2012PLC174462	PANCHSHREE TIE-UP LIMITED	Director	29/09/2012	01/03/2012	30/11/2012	Active	NO
30	L20291WB1985PLC038657	SWASTIK PLYWOOD LIMITED	Director	29/09/2012	21/03/2012	-	Active	NO
31	U52190WB2012PTC174461	MOONVIEW TIE-UP PRIVATE LIMITED	Director	27/09/2013	05/11/2012	-	Active	NO
32	U52190WB2011PTC168098	DAKSHA TIE-UP PRIVATE LIMITED	Director	26/09/2013	05/11/2012	-	Active	NO
33	U52190WB2011PTC168116	BRIGHT DEALTRADE PRIVATE LIMITED	Director	26/09/2013	05/11/2012	-	Active	NO
34	U52190WB2011PTC168103	AVANEESH DEALMARK PRIVATE LIMITED	Director	26/09/2013	05/11/2012	-	Active	NO
35	U52190WB2012PTC174459	ARYADEEP TRADELINK PRIVATE LIMITED	Director	26/09/2013	05/11/2012	-	Active	NO
36	U52190WB2011PTC168114	ANANT VINTRADE PRIVATE LIMITED	Director	26/09/2013	05/11/2012	-	Active	NO
37	U52190WB2012PTC181674	LINKSTAR VYAPAAR PRIVATE LIMITED	Director	30/09/2013	05/11/2012	-	Active	NO
38	U65999WB1985PTC039875	SAJAN FINANCIERS AND COMMERCIALS PVT LTD	Director	30/09/2013	05/11/2012	-	Active	NO
39	U52190WB2012PTC174460	KAMALDHAN VINTRADE PRIVATE LIMITED	Director	26/09/2013	27/12/2012	-	Active	NO
40	U67120WB2006PTC112242	Yashashvi Securities Private Limited	Director	31/08/2013	27/12/2012	-	Active	NO
41	U52190WB2012PTC181672	FOREMOST TIE-UP PRIVATE LIMITED	Director	30/09/2013	27/12/2012	-	Active	NO

Name :

Mr. Ravi Beriwala

Designation :

Director

Address :

BF – 218, Salt Lake City, Sector l, Kolkata – 700064, West Bengal, India

Date of Birth/Age :

06.06.1970

Date of Appointment :

20.03.2009

DIN No. :

00006230

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	U51109WB1992PTC056738	BRIGHT HORIZON IMPEX P LTD.	Director	21/05/1999	21/05/1999	-	Amalgamated	NO
2	U27109WB2005PTC103291	TRUMAX ISPAT PRIVATE LIMITED	Director	31/03/2011	02/05/2006	-	Active	NO
3	U70101WB2006PTC110695	SHYAMSREE PROMOTERS PRIVATE LIMITED	Director	20/07/2006	20/07/2006	27/12/2012	Active	NO
4	U70101WB2006PTC110778	ROSEWOOD PLAZA PRIVATE LIMITED	Director	26/07/2006	26/07/2006	27/12/2012	Active	NO
5	U24121WB1975PTC030089	DIN CHEMICALS & COATINGS PVT LTD	Additional director	01/10/2013	12/04/2007	-	Active	NO
6	U45400WB2007PTC116137	SHREE NIVAS BUILDESTATES PRIVATE LIMITED	Director	28/05/2007	28/05/2007	30/11/2012	Active	NO
7	U27102WB2002PTC095374	SHREEGOPAL HI-TECH PRIVATE LIMITED	Director	12/06/2007	12/06/2007	-	Amalgamated	NO
8	U74140WB2004PTC099555	VANLILA CONSULTANTS PRIVATE LIMITED	Director	05/09/2013	22/09/2007	-	Active	NO
9	U51909WB2004PTC098060	SAFFORN MARKETING PRIVATE LIMITED	Director	12/10/2007	12/10/2007	-	Amalgamated	NO
10	U27101WB2002PTC094472	SGI ISPAT PRIVATE LIMITED	Director appointed in casual vacancy	01/04/2008	01/04/2008	02/02/2009	Active	NO
11	U27100WB2002PLC094339	SHYAM STEEL INDUSTRIES LIMITED	Director	01/01/2013	20/03/2009	-	Active	NO
12	U73100WB2009PTC138299	TCP Marketing & Research Private Limited	Director	08/09/2009	08/09/2009	27/12/2012	Active	NO
13	U01403WB2010PTC144799	SSB ESTATE PRIVATE LIMITED	Director	05/04/2010	05/04/2010	27/12/2012	Active	NO
14	U51909WB2009PTC135163	UNICON VYAPAAR PRIVATE LIMITED	Director	30/09/2010	19/05/2010	27/12/2012	Active	NO
15	U15541WB2010PTC154689	Shyamsree Food Processing Private Limited	Director	16/11/2010	16/11/2010	27/12/2012	Active	NO
16	U52190WB2010PTC155464	VAIKUNTHA TRADECOM PRIVATE LIMITED	Director	07/12/2010	07/12/2010	27/12/2012	Active	NO
17	U52190WB2011PLC156940	CHITRALEKHA MERCHANTS LIMITED	Director	10/01/2011	10/01/2011	27/12/2012	Active	NO
18	U52190WB2012PTC174459	ARYADEEP TRADELINK PRIVATE LIMITED	Director	20/02/2012	20/02/2012	07/11/2012	Active	NO
19	U52190WB2012PLC174462	PANCHSHREE TIE-UP LIMITED	Director	20/02/2012	20/02/2012	27/12/2012	Active	NO
20	U52190WB2012PTC174461	MOONVIEW TIE-UP PRIVATE LIMITED	Director	20/02/2012	20/02/2012	07/11/2012	Active	NO
21	U52190WB2012PTC174460	KAMALDHAN VINTRADE PRIVATE LIMITED	Director	20/02/2012	20/02/2012	27/12/2012	Active	NO
22	L20291WB1985PLC038657	SWASTIK PLYWOOD LIMITED	Director	29/09/2012	21/03/2012	-	Active	NO
23	U14219WB2008PTC128692	SHYAM MINERAL RESOURCES PRIVATE LIMITED	Director	16/09/2013	30/11/2012	-	Active	NO
24	U40105WB2010PTC154125	SHYAMSTEEL ENERGY PRIVATE LIMITED	Director	28/09/2013	27/12/2012	-	Active	NO
25	U74900WB2013PTC198735	SPECTRO SHYAM LABS PRIVATE LIMITED	Director	02/12/2013	02/12/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Anju Moonka Agarwal
Designation :	Secretary
Address :	14, Narasingha Bose lane, 2^nd, Howrayh - 711102, West Bengal, India
Date of Birth/Age :	14.05.1983
Date of Appointment :	20.04.2013
Pan No.:	AHOPM8424F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares

Shyam Sunder Beriwala	367100
Lalit Beriwala	312650
Purushottam Beriwala	283050
Govind Beriwala	248650
Ravi Beriwala	332550
Brijesh Beriwala	328050
Manish Beriwala	387850
Sriram Beriwala	227500
Maya Devi Beriwala	27500
Puspa Devi Beriwala	128300
Manju Lata Beriwala	15000
Vineeta Beriwala	15000
Anju Beriwala	15000
Bina Beriwala	281000
Jyoti Beriwala	110300
Shyam Sunder Beriwala and Others	91500
Lalit Beriwala (HUF)	234850
Ravi Beriwala (HUF)	214950
Brijesh Beriwala (HUF)	219450
Manish Beriwala (HUF)	174550
Purushottam Beriwala (HUF)	358450
Govind Beriwala (HUF)	363550
Vanlila Consultants Private Limited (HUF), India	408200
Suket Beriwala	200000
Yashashvi Securities Private Limited	630000
Rumax Ispat Private Limited	525000

Total	6500000

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	24.05
Directors or relatives of Directors	50.45
Other top fifty shareholders	25.50
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in the business of manufacturing value added products including Hot Rolled Steel Products, Sponge Iron, Billets / Blooms and Melting and Misroll. In addition, the Company generates Power mainly for its captive use

Products :

Item Code No. (ITC Code)	Product Description
7214	Hot Rolled Steel Products
7207	Billet
7203	Sponge Iron

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Actual Production
Hot Rolled Steel Products	MT	370000	211190
Ingot / Billet	MT	158000	103986
Sponge Iron	MT	57000	25768
Melting and Misroll	--	--	9212
Iron And Steel Products	--	--	98739

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· City Bank, New Delhi, India

· State Bank of India, Commercial Branch, Kolkata, 24, Park Street, Kolkata – 700016, West Bengal, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Borrowing	1048.903	805.771

SHORT TERM BORROWINGS
Working Capital Loans from banks	1673.126	1748.646

Total	2722.029	2554.417


Banking Relations :	--

Finance Institution	L and T Finance Limited, L and T House, Ballard Estate, Mumbai – 400001, Maharashtra India

Auditors :
Name :	Singhi and Company Chartered Accountants
Address :	1B, Old Post office Street, Kolkata – 700 001, West Bengal, India

Subsidiary Company :	· Shyam Steel Metallics Private Limited, India U27100WB2007PTC115235 · Shyam International Pte. Limited, Singapore U27100WB2007PTC115235

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions
2000000	Preference shares	Rs.10/- each	Rs.20.000 Millions
	Total		Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

6500000	Equity Shares	Rs.10/- each	Rs. 65.000 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	65.000	65.000	65.000
(b) Reserves & Surplus	1655.270	1904.597	1702.018
(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)	1720.270	1969.597	1767.018

(3) Non-Current Liabilities
(a) long-term borrowings	1048.903	805.771	307.948
(b) Deferred tax liabilities (Net)	238.603	137.885	130.745
(c) Other long term liabilities	93.733	49.311	28.259
(d) long-term provisions	11.991	12.281	9.332
Total Non-current Liabilities (3)	1393.230	1005.248	476.284

(4) Current Liabilities
(a) Short term borrowings	1691.494	1785.800	2006.839
(b) Trade payables	886.048	426.661	720.856
(c) Other current liabilities	397.160	485.746	243.617
(d) Short-term provisions	1.225	13.198	2.258
Total Current Liabilities (4)	2975.927	2711.405	2973.570

TOTAL	6089.427	5686.250	5216.872

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1602.314	1129.939	1178.217
(ii) Intangible Assets	3.574	6.494	9.621
(iii) Capital work-in-progress	153.923	393.625	59.984
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	50.919	57.029	51.060
(c) Deferred tax assets (net)	204.398	5.587	4.377
(d) Long-term Loan and Advances	127.499	139.819	137.668
(e) Other Non-current assets	1.309	0.000	58.398
Total Non-Current Assets	2143.936	1732.493	1499.325

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	611.748	1028.254	1120.820
(c) Trade receivables	2452.903	2138.145	1730.942
(d) Cash and cash equivalents	62.011	45.931	30.563
(e) Short-term loans and advances	638.846	618.233	684.502
(f) Other current assets	179.983	123.194	150.720
Total Current Assets	3945.491	3953.757	3717.547

TOTAL	6089.427	5686.250	5216.872

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	11395.111	10960.684	8867.807
	Other Income	21.433	16.837	11.838
	TOTAL	11416.544	10977.521	8879.645

Less	EXPENSES
	Cost of Materials Consumed		8228.686	6733.360
	Purchases of Stock-in-Trade		78.854	227.280
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		47.356	21.615
	Employees benefits expense		213.403	174.949
	Other expenses		1643.132	1208.199
	TOTAL	11224.901	10211.431	8365.403

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	191.643	766.090	514.242

Less	FINANCIAL EXPENSES	430.320	394.350	188.079

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(238.677)	371.740	326.163

Less/ Add	DEPRECIATION/ AMORTISATION	108.746	97.650	85.450

	PROFIT/ (LOSS) BEFORE TAX	(347.423)	274.090	240.713

Less	TAX (I)	0.005	65.581	47.963

	PROFIT/ (LOSS) AFTER TAX	(347.428)	208.509	192.751

	IMPORTS
	Raw Material	211.990	56.524	0.437
	Stores and spares	1.776	11.885	5.009
	Interest on Foreign Currency Loan	2.856	0.000	0.000
	Employee Related expenses	2.775	0.000	0.000
	Tour and travelling	0.157	1.084	0.520
	Membership and subscription	0.119	0.191	0.000
	TOTAL IMPORTS	219.673	69.684	5.966

	Earnings / (Loss) Per Share (Rs.)	53.45	32.08	29.65

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PARTICULARS
PAT / Total Income	(%)	(3.04)	1.90	2.17

Net Profit Margin (PBT/Sales)	(%)	(3.05)	2.50	2.71

Return on Total Assets (PBT/Total Assets}	(%)	(6.12)	5.24	4.72

Return on Investment (ROI) (PBT/Networth)		(0.20)	0.14	0.14

Debt Equity Ratio (Total Debt /Networth)		1.59	1.32	1.31

Current Ratio (Current Asset/Current Liability)		1.33	1.46	1.25

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	65.000	65.000	65.000
Reserves & Surplus	1702.018	1904.597	1655.270
Net worth	1767.018	1969.597	1720.270

long-term borrowings	307.948	805.771	1048.903
Short term borrowings	2006.839	1785.800	1691.494
Total borrowings	2314.787	2591.571	2740.397
Debt/Equity ratio	1.310	1.316	1.593

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	8867.807	10960.684	11395.111
		23.601	3.964

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	8867.807	10960.684	11395.111
Profit	192.750	208.509	(347.428)
	2.17%	1.90%	(3.05%)

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	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	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	Yes
34]	External Agency Rating, if available	No

Litigation Details :

Case Status : Pending

Status of TEM APO (APOT) 215 of 2012

ASSAM BENGAL ROADWAYS LTD. Vs. SHYAM STEEL INDUSTRIES LTD.

Pet’s Adv. : SUNITA AGARWAL

Res’s Adv. :

Court No. : 19 Last Listed On : Monday, May 07, 2012

Category : NO CATEGORY MENTIONED

CONNECTED APPLICATION (S)

CONNECTED MATTER (S)

No Connected Application.

No Connected Cases

Case Updated on : Monday, April30, 2012

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10420779	28/03/2013	350,000,000.00	Indian Overseas Bank	MID CORPORATE BRANCH, 3, CHOWRINGHEE APPROACH, KO LKATA, West Bengal - 700072, INDIA	B73465361
2	10340338	29/08/2012 *	165,500,000.00	STATE BANK OF HYDERABAD	COMMERCIAL BRANCH, 83, TOPSIA ROAD, KOLKATA, West Bengal - 700046, INDIA	B59492926
3	10331818	18/01/2012	250,000,000.00	STATE BANK OF PATIALA	8, CAMAC STREET, KOLKATA, West Bengal - 700017, INDIA	B30574990
4	10322525	26/12/2011 *	200,000,000.00	L & T FINANCE LIMITED	L&T HOUSE,, BALLARD ESTATE, MUMBAI, Maharashtra - 400001, INDIA	B28538908
5	10295263	27/06/2011	400,000,000.00	ALLAHABAD BANK	INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE RO AD, 4TH FLOOR, KOLKATA, West Bengal - 700001, INDI A	B16218257
6	10165250	11/11/2013 *	4,011,600,000.00	STATE BANK OF INDIA (LEAD BANK)	Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, INDIA	B90495763
7	10110112	29/03/2014 *	292,500,000.00	STATE BANK OF INDIA	Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, INDIA	C01190461
8	90246512	11/11/2013 *	4,011,600,000.00	STATE BANK OF INDIA (LEAD BANK)	Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, INDIA	B91116673

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
Borrowing	18.368	37.154
Total	18.368	37.154

FIXED ASSETS

· Freehold Land

· Leasehold Land

· Office Building and Premises

· Factory Shed and Structures

· Plant and Machinery

· Office Equipment

· Furniture Fixtures

· Computer

· Computer Software

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] 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. 61.05
UK Pound	1	Rs. 101.83
Euro	1	Rs. 81.55

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	RAS

Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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		28

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.

MIRA INFORM REPORT

Unit