MIRA INFORM REPORT

Report Date :

30.08.2014

IDENTIFICATION DETAILS

Name :	MONNET ISPAT AND ENERGY LIMITED (w.e.f 12.01.2006)
Formerly Known As :	MONNET ISPAT LIMITED
Registered Office :	Monnet Marg, Mandir Hasaud, Raipur – 492101, Chhattisgarh
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.02.1990
Com. Reg. No.:	53-009826
Capital Investment / Paid-up Capital :	Rs. 2387.489 Millions
CIN No.: [Company Identification No.]	L02710CT1990PLC009826
TAN No.: [Tax Deduction & Collection Account No.]	BPLM04510C
PAN No.: [Permanent Account No.]	AAACM0501D
Legal Form :	A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturers of Sponge Iron, Steel and Ferro Alloys.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well-established company having fine track record. Profit of the company has declined during financial year 2014. However, the rating sound financial risk profile marked by diversified products profile and semi integrated operations backed by captive coal mine as well as power plant. The rating reflects strong financial risk profile marked by strong liquidity position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

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.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank Facilities : “A+”
Rating Explanation	Have adequate degree of safety and carry low credit risk.
Date	06.01.2014

Rating Agency Name	CARE
Rating	Short term Bank Facilities : “A1+”
Rating Explanation	Have very Strong degree of safety and carry lowest credit risk
Date	06.01.2014

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 DECLINED

Management non-cooperative. (Tel. No.:91-771-2471334)

LOCATIONS

Registered Office / Factory 1:	Monnet Marg, Mandir Hasaud, Raipur – 492101, Chhattisgarh, India
Tel. No.:	91-771-2471334-339
Fax No.:	91-771-2471250
E-Mail :	monnet@monnetgroup.com monnetraipur@monnetgroup.com
Website :	http://www.monnetgroup.com
Corporate Office :	Monnet House, 11, Masjid Moth, Greater Kailash Part-ll, New Delhi-110048, Delhi, India
Tel. No.:	91-11-29218542-46
Fax No.:	91-11-29218541
E-mail :	monnet@monnetgroup.com isc_miel@monnetgroup.com
Factory 2 :	Village - Naharpali, Tehsil - Kharsia, District Raigarh - 496661, Chhattisgarh, India
Tel No. :	91–7762-275451/ 52
Fax No. :	91–7762-275455
E-Mail :	mielrgh@monnetgroup.com
Factory 3 :	Monnet Power Company Limited Village – Malibrahmani, P. O. – Nisha – 759130 Via – Kosala, District. -Angul, Orissa, India
Tel No. :	91-6764-224001 / 224002
Fax No. :	91-6764-224003
E-Mail :	angul@monnetgroup.com

DIRECTORS

As on: 31.03.2012

Name :	Mr. Sandeep Jajodia
Designation :	Chairman and Managing Director
Name :	Mr. C. P. Baid
Designation :	Dy. Managing Director
Name :	Mr. G.C. Mrig
Designation :	Non-Executive Independent Director
Name :	Mr. Amit Dixit
Designation :	Non-Executive Independent Director
Name :	Mr. Ajay Relan
Designation :	Non-Executive Independent Director
Name :	Mr. Vikram Deswal
Designation :	Non-Executive Independent Director
Name :	Mr. J. P. Lath
Designation :	Other Non-Executive director

KEY EXECUTIVES

Name :	Mr. M.P. Kharbanda
Designation :	Company Secretary
Board Committees
Audit Committee	Mr. G.C. Mrig, Chairman Mr. Ajay Relan, Member Mr. J.P. Lath, Member Mr. M.P Kharbanda, Secretary
Shareholders / Investors' Grievance Committee	Mr. J.P. Lath Mr. C. P. Baid
Remuneration Committee	Mr. G.C. Mrig Mr. Vikram Deswal Mr. J.P. Lath
Finance Committee	Mr. Sandeep Jajodia Mr. C.P. Baid Mr. J.P. Lath
Executive Committee	Mr. Sandeep Jajodia Mr. C.P. Baid Mr. J.P. Lath
Share Transfer Committee	Mr. J.R Lath Mr. C.P. Baid Mr. M.P Kharbanda
Name :	Mr. Devi Mathur
Designation :	Senior Vice President of Finance of Account

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.06.2014

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	254448	0.39
Bodies Corporate	25682225	39.02
Any Others (Specify)	6046168	9.19
Directors/Promoters & their Relatives & Friends	6046168	9.19
Sub Total	31982841	48.59
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	31982841	48.59
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	13590	0.02
Financial Institutions / Banks	66930	0.10
Insurance Companies	396443	0.60
Foreign Institutional Investors	20747580	31.52
Sub Total	21224543	32.24
(2) Non-Institutions
Bodies Corporate	6774678	10.29
Individuals
Individual shareholders holding nominal share capital up to Rs 0.100 million	4415853	6.71
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	694218	1.05
Any Others (Specify)	733548	1.11
Hindu Undivided Families	387254	0.59
Non Resident Indians	276204	0.42
Directors & their Relatives & Friends	2296	0.00
Trust & Foundation	67794	0.10
Sub Total	12618297	19.17
Total Public shareholding (B)	33842840	51.41
Total (A)+(B)	65825681	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	65825681	0.00

BUSINESS DETAILS

Line of Business :

Manufacturers of Sponge Iron, Steel and Ferro Alloys.

Products :

Item Code No. (ITC Code)	Product Description
72.07	Mild Steel
72.03	Sponge Iron
72.02	Sponge Iron
NA	Power

PRODUCTION STATUS (AS ON 31.03.2012)

A. Production	Units	31.03.2012
- Sponge Iron	MT	742194
- MS /SS Products	MT	98061
-Structural Steel	MT	81204
- Ferro Alloys	MT	8993
-Coal	MT	850505
- Power	‘000 Units	858238

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

· Punjab National Bank

· State Bank of Bikaner and Jaipur

· State Bank of India

· State Bank of Patiala

· IDBI Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2014	As on 31.03.2013
Long term Borrowing
Non-Convertible Redeemable Debenture of par	NA	6050.006
Foreign currency loans	NA	12074.424
Rupee loans	NA	20936.519
Short term Borrowing
Working capital from banks	NA	6059.667
From Banks	NA	500.000
From Institutions and Others	NA	0.000
Total	NA	45620.616
Note: Term Loans, External Commercial borrowings (ECB) and Non-Convertible Debentures (NCD) from financial institutions / Banks, are secured by first charge on all immovable and movable assets (present and future) of the Company (subject to prior charges on movables in favour of working capital banks) ranking pari - passu with the charges created in favour of participating financial institutions. Some of the loans /facilities are further guaranteed by the Managing Director of the Company. The repayment terms and rate of interest of term loans are as under: a) Rupee Term Loan for Steel Project:- The Company has an outstanding balance of Rs. 21556.100 Millions of Rupee term loan with interest band of 1.50% to 2.25% plus base rate. These loans are repayable in 26 variable quarterly installments commencing from Financial Year 2013.14. b) Rupee Term Loan for Power Project:- The Company has an outstanding balance of Rs. 969.300 Millions of Rupee term loan with interest band of 1 1.75% to 12.95% repayable by Financial Year 2015-16. c) Foreign Currency Term Loan $ 192 Million: the loan is repayable in installments from Financial Year 201 4-1 5 to Financial Year 201 9-20 and carries interest rate of libor plus 4.25 to 4.6%. d) Foreign Currency Term Loan 212 Million: the loan is repayable in installments from 2014-15 to FY 2019-20 and carries interest rate of libor plus 4.25 to 6.6%. e) USD 45 million repayable in FY 2013-14 with interest rate libor + 1.90%

Banking Relations :	--
Auditors :
Name :	O.P. Bagla and Company Chartered Accountants
Address :	New Delhi, India
Enterprise where KMP has significant influence:	Ø A.P. Coal Washeries Private Limited Ø Monnet Global Limited Ø Monnet Overseas Limited Ø Monnet Daniel Coal Washeries Private Limited Ø Monnet Power Company Limited Ø Monnet Cement Limited Ø Monnet Enterprises PTE Limited Ø Rameshwaram Steel and Power Private Limited Ø Chattel Constructions Private Limited Ø Chomal Exports private limited Ø Monnet Sports Foundation
Subsidiary of Subsidiaries :	Ø Pt Monnet Global Ø Monnet Enterprises DMCC Ø Pt. Serwa Sembada Karya Bumi Ø Monnet Global Liberia Limited Ø Monnet Global Guinea S.A. Ø Monnet Global Mali S.A. Ø Monnet Global Colombia S.A.S.
Joint Ventures :	Ø MP Monnet Mining Company Limited Ø Mandakini Coal Company Limited Ø Urtan North Mining Company Limited Ø Monnet Ecomaister Enviro Private Limited
Associates:	Ø Orissa Sponge Lron and Steel Limited

CAPITAL STRUCTURE

As on: 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
82000000	Equity Shares	Rs. 10/- each	Rs. 820.000 Millions
17500000	Preference share	Rs. 100/- each	Rs. 1750.000 Millions
	Total		Rs. 2570.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
240825681	Equity Shares	Rs.10/- each	Rs. 2408.400 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2408.400	2387.489	643.550
(b) Reserves & Surplus	25988.000	25160.119	22959.944
(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)	28396.400	27547.608	23603.494
(3) Non-Current Liabilities
(a) long-term borrowings	53772.600	40324.249	28511.949
(b) Deferred tax liabilities (Net)	1928.900	1661.221	1504.990
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	73.500	60.086	62.379
Total Non-current Liabilities (3)	55775.000	42045.556	30079.318
(4) Current Liabilities
(a) Short term borrowings	9850.900	13991.782	9831.952
(b) Trade payables	2285.500	1244.162	611.827
(c) Other current liabilities	10354.400	8774.206	4776.579
(d) Short-term provisions	210.800	112.573	186.467
Total Current Liabilities (4)	22701.600	24122.723	15406.825
TOTAL	106873.000	93715.887	69089.637
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	65664.600	13875.021	13786.959
(ii) Intangible Assets	0.000	0.000	0.538
(iii) Capital work-in-progress	0.000	36825.919	20219.300
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	10667.700	9314.971	5902.802
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	7377.700	08096.082	4433.586
(e) Other Non-current assets	735.400	836.178	797.352
Total Non-Current Assets	84445.400	68948.171	45140.537
(2) Current assets
(a) Current investments	0.000	0.995	10.259
(b) Inventories	10671.600	7790.413	5623.675
(c) Trade receivables	2150.400	2458.499	1788.205
(d) Cash and cash equivalents	883.500	7191.707	8733.295
(e) Short-term loans and advances	8573.200	7218.931	7724.404
(f) Other current assets	148.900	107.171	69.262
Total Current Assets	22427.600	24767.716	23949.100
TOTAL	106873.000	93715.887	69089.637

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	23097.700	19574.335	18973.846
	Other Income	510.600	708.346	631.536
	TOTAL (A)	23608.300	20282.681	19605.382
Less	EXPENSES
	Cost of Materials Consumed	17574.100	11736.906	12079.516
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(2787.600)	7.695	(661.229)
	Employees benefits expense	1435.300	1084.731	945.380
	Other expenses	2634.200	1988.229	1863.254
	TOTAL (B)	18856.000	14817.561	14226.921
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	4752.300	5465.120	5378.461
Less	FINANCIAL EXPENSES (D)	2393.800	1192.091	867.022
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	2358.500	4273.029	4511.439
Less/ Add	DEPRECIATION/ AMORTISATION (F)	1387.300	888.980	741.068
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	971.200	3384.049	3770.371
Less	TAX (I)	304.900	880.856	881.766
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	666.300	2503.193	2888.605
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	14007.403	11980.410	9883.160
Less	APPROPRIATIONS
	Dividend		95.600	160.439
	Dividend on Preference Shares		0.600	0.000
	Tax on Dividend		16.400	26.027
	Dividend paid		112.600	0.000
	Transfer to General Reserve		251.000	289.000
	Transfer to Debenture Redemption Reserve		0.000	315.889
	BALANCE CARRIED TO THE B/S	NA	14007.403	11980.410
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	NA	448.682	987.999
	TOTAL EARNINGS	NA	448.682	987.999
	IMPORTS
	Capital Goods	NA	1874.671	1456.898
	TOTAL IMPORTS	NA	1874.671	1456.898
	Earnings Per Share (Rs.)
	Basic	8.25	39.07	44.90
	Diluted	8.10	37.83	43.48

Note:

The above Financial Results have been reviewed by the Audit Committee in its meeting held on June 11, 2014 and then approved by the Board of Directors in its meeting held on June 11, 2014.

The Board of Directors have recommended, subject to approval of shareholders, a dividend of 10% (Rs. 1.00 per equity share of Rs. 10/-each), aggregating to Rs. 210.100 millions, including dividend on preference shares and dividend distribution tax.

The Board of directors have approved an appropriation of Rs.66.600 millions to the General Reserve.

Sales aggregating to Rs. 1778.400 millions in respect of production during the trial runs of various modules of steel division does not form part of total sales during the year and have been adjusted/reduced against the preoperative expenditure

Operational performance includes impact of loss of Rs. 842.000 millions. being losses incurred during ramp up of production of the newly commissioned steel plant due to issues of synchronization and stabilzation of different modules of the steel plant. Management believes such losses are one time and non-recurring in nature.

The consolidated accounts have been prepared as per Accounting Standard (AS) 21 on Consolidated Financial Statements and Accounting Standard (AS) 23 on Accounting for Investments in Associates in Consolidated Financial Statements notified in the Companies (Accounting Standard) Rules 2006.

The figures of quarter ended March 31, 2014 and March 31, 2013 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures (unaudited) upto the third quarter of the relevant financial year.

Previous year figures have been reworked / re-grouped / re-arranged, wherever necessary, to conform with those of current year classification/disclosure.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	2.82	12.34	14.73
Net Profit Margin (PBT/Sales)	(%)	4.20	17.29	19.87
Return on Total Assets (PBT/Total Assets}	(%)	1.01	7.11	8.77
Return on Investment (ROI) (PBT/Networth)		0.03	0.12	0.16
Debt Equity Ratio (Total Debt/Networth)		2.24	1.97	1.62
Current Ratio (Current Asset/Current Liability)		0.99	1.03	1.55

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	643.550	2387.489	2408.400
Reserves & Surplus	22959.944	25160.119	25988.000
Net worth	23603.494	27547.608	28396.400
long-term borrowings	28511.949	40324.249	53772.600
Short term borrowings	9831.952	13991.782	9850.900
Total borrowings	38343.901	54316.031	63623.500
Debt/Equity ratio	1.625	1.972	2.241

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	18973.846	19574.335	23097.700
		3.165	18.000

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	18973.846	19574.335	23097.700
Profit	2888.605	2503.193	666.300
	15.22%	12.79%	2.88%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	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	No
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2014	As on 31.03.2013
Long term Borrowing
Rupee loans	NA	1263.300
Short term borrowings
0% Fully Convertible Debenture of Rs. 1000/- each.	NA	392.625
Foreign currency loans	NA	2925.382
Rupee loans	NA	4114.108
Total	NA	8695.415
Note: Working capital facilities from banks are secured by first charge on movable current assets and second charge on all immovable assets of the Company. These working capital loans are further guaranteed by Managing Director of the Company.

CASE DETAILS

CASE DETAILS
Token No.	082210183052013
Case Type	MISC. APPEAL /0000076/2013
Date of Filing.	26/09/2013
Case Status.	Pending
CASE CURRENT PURPOSE
Bench	Case Not Allocated
Bench Nature
Court
Listing Date
Listing Purpose

I.A FILED (ALL)
I.A No	Date	Name	I.A Status

SUBJECT CATEGORY
Subj Code	Subject	Code-Subject Category	Subject Sub Category
10	COMPANY LAW, MRTP & ALLIED MATTERS	1003-398 OF COMPANIES ACT, 1956.

PETITIONER AND PETITIONER ADVOCATES
Petitioner Name        -M/s Mittal Investment Petitioner Father Name    -0 Petitioner Address    -THROUGH- ITS SOLE PROPRIETOR SHRI BAJARANGLAL B. AGRAWAL, B-10, MADHAVPURA MARKET, SHAHIBAUG ROAD, AHMEDABAD-380004, (GUJARAT) Petitioner Advocate  -C. Anup Rajput
PETITIONER ADDITIONAL PARTY
Additional Party Name	Father Name	Advocate Name	Party Address
RESPONDENTS/ACCUSED AND RESPONDENTS ADVOCATES
Respondent Name        -M/s Monnet Ispat And Energy Ltd. Respondent Father Name    - Respondent Address    -A COMPANY INCORPORATED UNDER PROVISIONS OF THE COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT CHAND KHURI MARG (MONNET MARG), MANDI HASAUD, RAIPUR, DISTT. RAIPUR (CHHATTISGARH) Respondent Advocate  -
RESPONDENTS ADDITIONAL PARTY
Additional Party Name	Father Name	Advocate Name	Party Address

LOWER COURT DETAIL
Court name	District	Case Type	Case Number	Case Year	Decision Date
Not Available/Applicable	Mumbai	COMPANY PETITION NO.	32	2008	18/09/2010

FIR DETAIL
FIR No   -	FIR Date   -	Police Station   - ()

CASE PROCEEDING HISTORY
Bench	Hearing Date	Purpose	Action

DOCUMENT DETAIL ( A.O.)
Party Name	Payment Mode	Amount	Document Type
Total=

ORDER DETAILS
Token No.	Order Date           Order No

JUDGEMENT DETAILS
Token No.	Judgement Date           Judgement No

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30^TH JUNE, 2014

(Rs. In Millions)

SI No.	Particulars	30.06.2014 Unaudited
1	Income from Operations
	(a) Net Sales/Income from Operations (Net of excise duty)	8841.600
	(b) Other Operating Income	95.800
	Total income from operations (net)	8937.400
2	Expenses
	(a) Cost of Materials consumed	6483.700
	(b) Purchase of stock-in-trade	0.000
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(1090.700)
	(d) Employee benefits expenses	479.200
	(e) Depreciation and amortization expense	581.000
	(f) Other expenses(Any item exceeding 10% of the total expenses relating to continuing operations to be shown separately)	1173.300
	Total Expenses	7626.500
3.	Profit / (Loss) from operations before other income, finance costs and exceptional items (1-2)	1310.900
4	Other Income	93.700
5	Profit / (Loss) from ordinary activities before finance costs and exceptional items (3 + 4)	1404.600
6	Finance Costs	1154.100
7	Profit / (Loss) from ordinary activities after finance costs but before exceptional items (5 + 6)	250.500
8	Exceptional Items	0.000
9	Profit / (Loss) from ordinary activities before tax (7 + 8)	250.500
10	Tax expense	76.400
11	Net Profit / (Loss) from ordinary activities after tax (9 + 10)	174.100
12	Extraordinary items (net of tax expense Rs. Millions)	0.000
13	Net Profit / (Loss) for the period (11 +12)	174.100
14	Cash Profit	831.500
17	Paid-up equity share capital (Face Value Rs.10/- per Share fully paid-up)	658.300
18	Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
19	Earnings Per Share (EPS) (being same before and after extraordinary items) of Rs. 10/- each (not Annualized)
	(a) Basic	2.64
	(b) Diluted	2.64
A	PARTICULARS OF SHAREHOLDING
1	Public Shareholding
	- Number of Shares	33842840
	- Percentage of Shareholding	51.41
2	Promoters and Promoter Group Shareholding
	a) Pledged / Encumbered
	- Number of Shares	Nil
	- Percentage of Shares (as a % of total shareholding of promoter and promoter group)
	- Percentage of Shares (as a % of total share Capital of the Company)
	b) Non-Encumbered
	- Number of Shares	31982841
	- Percentage of Shares (as a % of total shareholding of promoter and promoter group)	100.00
	- Percentage of Shares (as a % of total share Capital of the Company)	48.59

PARTICULARS	30.06.2014
Pending at the beginning of the quarter	4
Received during the quarter	18
disposed off during the quarter	17
Remaining unresolved at the end of the quarter	5

UNAUDITED SEGMENT-WISE REVENUE RESULTS CAPITAL EMPLOYED THE QUARTER ENDED 30.06.2014

(Rs. In Millions)

SI. No	Particulars	30.06.2014
1	"Segment Revenue (Net Sales / Income from each segment should be disclosed under this head)"
	(a) Power	1256.800
	(b) Steel	8708.00
	(c) Unallocated	0.000
	Total	9664.800
	Less: Inter Segment Revenue	1027.400
	Net Sales / Income From Operations	8937.400
2	Segment Results (Profit) (+) / Loss (-) before tax and interest from each segment)
	(a) Power	37.200
	(b) Steel	1388.000
	(c) Unallocated	0.000
	Total	1475.200
	Less: i) Financial Charges	1154.100
	ii) Un-allocable Expenditure net off	0.000
	ii) Un-allocable income	(20.500)
	Total Profit Before Tax	250.500
3	"Capital Employed
	(Segment assets - Segment Liabilities)"
	(a) Power	4563.000
	(b) Steel	24040.600
	(c) Unallocated
	Total	25803.600

Note:

These unaudited financial results were reviewed by the audit committee and approved at the meeting of the board of directors of the company held on 11^th August, 2014.

The company does not have any exceptional or extraordinary items to report for the above periods.

The figures for the previous periods are re-classified / re-arranged / re-grouped, wherever necessary, to correspond with the current periods classification/ disclosure.

FIXED ASSETS:

Tangible assets:

Ø Land and Site Development

Ø Lease hold land

Ø Railway Siding

Ø Building

Ø Plant and Machinery

Ø Office Equipment

Ø Furniture and Fixtures

Ø Vehicle

Intangible assets:
Ø 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. 60.47
UK Pound	1	Rs. 100.35
Euro	1	Rs. 79.86

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	KAR
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.