MIRA INFORM REPORT

Report Date :

01.12.2014

IDENTIFICATION DETAILS

Name :	SANVIJAY ROLLING AND ENGINEERING LIMITED (w.e.f 19.05.2000)
Formerly Known As :	SANVIJAY RE-ROLLING AND ENGINEERING WORKS LIMITED (w.e.f 18.06.1996) SANVIJAY RE-ROLLING AND ENGINEERING WORKS PRIVATE LIMITED
Registered Office :	Plot No. 9, Immamwada Road, Nagpur – 440018, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	16.10.1987
Com. Reg. No.:	11-045013
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U27100MH1987PLC045013
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	NGPS00313F
PAN No.: [Permanent Account No.]	AACCS0217J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Trading of Iron and Steel items.
No. of Employees :	Information decline by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There is a dip in profit of the company in the year 2013. However, rating derive strength from experience of promoters and decent liquidity position. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered 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 – 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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	07.08.2014

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	07.08.2014

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 DENIED BY

Name :	Mr. Deepak Kothe
Designation :	Marketing Manager
Contact No.:	91-9850397423
Date :	26.11.2014

Name :	Mr. Dixit
Designation :	Finance Manager
Contact No.:	91-712-2729130
Date :	26.11.2014

LOCATIONS

Registered Office :	9, Immamwada Road, Nagpur – 440018, Maharashtra, India
Tel. No.:	91-712-2729130/ 136
Mobile No.:	91-9850397423 (Mr. Deepak Kothe)
Fax No.:	91-712-2720716/ 2723799
E-Mail :	cs@sanvijay.com steel@sanvijay.com
Website :	http://www.sanvijay.com

Note: Six manufacturing facilities located in industrial areas of Butibori and Hingna, Nagpur.

DIRECTORS

As on 30.09.2013

Name :

Mr. Sanjay Puranlal Agrawal

Designation :

Whole Time Director

Address :

26, Bhagwaghar Layout, Dharampeth, Nagpur – 440010, Maharashtra, India

Date of Birth/Age :

26.07.1966

Qualification :

B. Com

Date of Appointment :

16.02.2003

PAN No.:

ABUPA3463G

DIN No.:

00308722

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	U70101MH1992PTC067892	LOSSY ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	15/07/1999	15/07/1999	-	Active	NO
2	U72220MH2000PTC124023	MACROSOFT INFOTECH AND SYSTEMS PRIVATE LIMITED	Director	03/02/2000	03/02/2000	-	Active	NO
3	U45208MH1980PTC022816	SUNRISE STRUCTURALS AND ENGINEERING PRIVATE LIMITED	Director	14/08/2000	14/08/2000	-	Active	NO
4	U45209MH1995PTC094474	SANVIJAY AUTO ENGINEERING PRIVATE LIMITED	Director	01/01/2002	01/01/2002	-	Active	NO
5	U27100MH1988PTC046143	DIU ISPAT UDYOG PRIVATE LIMITED	Director	10/12/2002	10/12/2002	-	Active	NO
6	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Whole-time director	16/02/2003	16/02/2003	-	Active	NO
7	U45201MH2006PLC165768	CHHINDWARA PLUS DEVELOPERS LIMITED	Director	24/11/2006	24/11/2006	-	Active	NO
8	U74899MH1994PTC193861	PROGRESSIVE CASTINGS PRIVATE LIMITED	Director	29/09/2007	28/06/2007	05/12/2011	Active	NO
9	U27101MH2005PTC229064	SATYA SHYAM STEELS PRIVATE LIMITED	Director	30/09/2008	10/03/2008	-	Active	NO
10	U24239MH2009NPL189289	APPLE MEDICARE	Director	01/01/2009	01/01/2009	-	Active	NO
11	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Managing director	28/01/2010	20/01/2009	-	Active	NO
12	U70101MH2006PTC161848	LALITAMBIKA BUILDERS AND DEVELOPERS PRIVATE LIMITED	Additional director	15/04/2009	15/04/2009	-	Active	NO
13	U01403MH2007PTC168270	MAHALAXMI AGRO AND LAND DEVELOPERS PRIVATE LIMITED	Additional director	15/04/2009	15/04/2009	-	Active	NO
14	U27106MH2007PLC176783	SOMU STEEL AND POWER LIMITED	Director	30/09/2009	01/06/2009	-	Active	NO
15	U51109WB1995PTC069876	MAHAK TRACON RIVATE LIMITED	Director	30/09/2009	24/06/2009	05/11/2012	Active	NO
16	U10100MH2008PTC186624	MAHARASHTRA COAL COMPANY PRIVATE LIMITED	Director	30/09/2010	27/11/2009	-	Active	NO
17	U30007MH1990PLC056918	LIBERTY COMPUTER STATIONERY LIMITED	Additional director	15/12/2009	15/12/2009	30/09/2010	Active	NO
18	U28920MH1982PTC029004	PRAKASH TRADERS PRIVATE LIMITED	Additional director	15/12/2009	15/12/2009	30/09/2010	Active	NO
19	U51909WB2007PTC114541	BASUKINATH SALES PRIVATE LIMITED	Director	30/09/2010	01/04/2010	05/11/2012	Active	NO
20	U51909WB2007PTC114636	DAMODAR VINIMAY PRIVATE LIMITED	Director	30/09/2010	01/04/2010	05/11/2012	Active	NO
21	U51109WB2007PTC114468	BASUDEO VYAPAAR PRIVATE LIMITED	Director	30/09/2010	01/04/2010	05/11/2012	Active	NO
22	U65993WB1977PTC031098	BOHRA AND COMPANY PRIVATE LIMITED	Director	30/09/2010	18/06/2010	05/11/2012	Active	NO
23	U51109WB1996PTC078080	VASUNDHARA COMMODITIES PRIVATE LIMITED	Director	30/09/2010	25/06/2010	05/11/2012	Active	NO
24	U74900MH2009PTC195711	EXPLO-TECH CONSULTING PRIVATE LIMITED	Director	26/09/2011	05/01/2011	-	Active	NO
25	U27310MH2012PTC230428	SANVIJAY ENGINEERING AND STRUCTURES PRIVATE LIMITED	Director	30/04/2012	30/04/2012	-	Active	NO
26	U93000MH2013PTC246368	BUTIBORI MANUFACTURERS TECHNOLOGY CLUSTER PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO

Name :

Mr. Ajay Puranlal Agrawal

Designation :

Whole Time Director

Address :

12, Daga Layout, NA Road, Nagpur – 440010, Maharashtra, India

Date of Birth/Age :

12.11.1979

Qualification :

B. Tech

Date of Appointment :

03.03.2004

PAN No.:

ABUPA3426F

DIN No.:

00084840

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	U27100MH1988PTC046143	DIU ISPAT UDYOG PRIVATE LIMITED	Director	10/01/1998	10/01/1998	-	Active	NO
2	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Whole-time director	03/03/2004	03/03/2004	-	Active	NO
3	U27101MH2005PTC229064	SATYA SHYAM STEELS PRIVATE LIMITED	Director	30/09/2008	10/03/2008	-	Active	NO
4	U74899MH1994PTC193861	PROGRESSIVE CASTINGS PRIVATE LIMITED	Director	30/06/2008	30/06/2008	20/04/2012	Active	NO
5	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Director	28/01/2010	20/01/2009	-	Active	NO
6	U27106MH2007PLC176783	SOMU STEEL AND POWER LIMITED	Director	30/09/2009	01/06/2009	-	Active	NO
7	U51109WB1995PTC069876	MAHAK TRACON PRIVATE LIMITED	Director	30/09/2009	24/06/2009	-	Active	NO
8	U70101MH1992PTC067892	LOSSY ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	30/09/2010	20/10/2009	-	Active	NO
9	U45209MH1995PTC094474	SANVIJAY AUTO ENGINEERING PRIVATE LIMITED	Director	29/09/2012	15/12/2009	-	Active	NO
10	U51909WB2007PTC114636	DAMODAR VINIMAY PRIVATE LIMITED	Director	30/09/2010	01/04/2010	-	Active	NO
11	U51909WB2007PTC114541	BASUKINATH SALES PRIVATE LIMITED	Director	30/09/2010	01/04/2010	-	Active	NO
12	U51109WB2007PTC114468	BASUDEO VYAPAAR PRIVATE LIMITED	Director	30/09/2010	01/04/2010	-	Active	NO
13	U28920MH1982PTC029004	PRAKASH TRADERS PRIVATE LIMITED	Additional director	24/11/2011	24/11/2011	15/03/2012	Active	NO
14	U30007MH1990PLC056918	LIBERTY COMPUTER STATIONERY LIMITED	Director	29/09/2012	24/11/2011	-	Active	NO
15	U45208MH1980PTC022816	SUNRISE STRUCTURALS AND ENGINEERING PRIVATE LIMITED	Director	29/09/2012	24/11/2011	-	Active	NO
16	U65993WB1977PTC031098	BOHRA AND COMPANY PRIVATE LIMITED	Additional director	05/11/2012	05/11/2012	-	Active	NO
17	U51109WB1996PTC078080	VASUNDHARA COMMODITIES PRIVATE LIMITED	Additional director	05/11/2012	05/11/2012	-	Active	NO

Name :

Mr. Shrikant Agrawal

Designation :

Director

Address :

26, Hindustan Colony, Amravati Road, Nagpur – 440033, Maharashtra, India

Date of Birth/Age :

10.10.1960

Date of Appointment :

30.09.2009

PAN No.:

AIAPA5762B

DIN No.:

02446283

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	U74140MH2002PTC137501	NEO VISION HOMECARE SERVICES PRIVATE LIMITED	Director	24/02/2004	24/02/2004	-	Active	YES
2	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Director	30/09/2009	23/02/2009	-	Active	NO
3	U21000MH2010PTC209901	SHRIDUTTA KRUPA PACKAGING PRIVATE LIMITED	Director	09/11/2010	09/11/2010	-	Active	NO

Name :

Mr. Purushottam Hastimal Purohit

Designation :

Director

Address :

141A Sharda Niwas, Ramsumerbabanagar, Kawlapeth, Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

14.05.1953

Date of Appointment :

30.09.2009

PAN No.:

ABAPP9690G

DIN No.:

02563591

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	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Director	30/09/2009	27/02/2009	-	Active	NO
2	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Director	28/01/2010	24/11/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Shalini Nautiyal
Designation :	Secretary
Address :	203 “A Wing, K C Apartment, Manjidana Colony, Gatikhadan Katol Road, Nagpur – 440013, Maharashtra, India
Date of Birth/Age :	26.07.1982
Date of Appointment :	01.07.2011
PAN No.:	AKRPN6236C

MAJOR SHAREHOLDERS

As on: 30.09.2013

Names of Shareholders	No. of Shares
Sanjay Puranlal Agrawal	97500
Sitadevi Puranlal Agrawal	73960
Kavita Sanjay Agrawal	97500
Ajay Puranlal Agrawal	95140
Saurabh Sanjay Agrawal	97500
Damodar Vinimay Private Limited, India	7725
Basukinath Sales Private Limited, India	15525
Basudeo Vyapar Private Limited, India	15150
Total	500000

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2013

Category	Percentage
Bodies corporate	8.00
Directors or relatives of directors	92.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Iron and Steel items.

Products :

ITC Code	Product Descriptions
72165000	Colf form or cold finished
72111410	Other, of a thickness of 475 mm
72149990	Others
73051129	Longitudinally submerged arc welded
73181500	screw and bolts
72071990	Others

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Transmission Sector

• Jyoti Structures Limited
• Bajaj
• Unitech
• Shirke Group of Company
• TATA
• Telecom
• Emco Inspired by tomorrow

Communication Sector

• Reliance
• Airtel
• Aster Dependable Services

Non-Conventional Sector

• Suzlon Powering A Greener Tomorrow
• Vestas

Overseas Customers

• Zamil Steel
• Hidada

No. of Employees :

Information decline by the management

Bankers :

• ICICI Bank Limited, Zenith House, Mahalaxmi, Mumbai – 400034, Maharashtra, India

• State Bank of India, Kingsway, Nagpur, Maharashtra, India

• ING – Vysya Bank Limited, 22, M G Road, Bangalore, Karnataka, India

• The Lakshmi Vilas Bank Limited, Nagpur, Maharashtra, India

Banker Name	UCO Bank
Branch Address	MID Corporate Branch, Anjani, Wardha Road, Nagpur-440015, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	91-712-3060686 / 2222880
Name of Account Holder	Not Divulged
Account Number	00390500004810
IFSC Code	UCBA0002055
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Cash Credit
Account Operation	Good
Remarks (If any)	He denied to provide his opinion even his name also

Facilities :

SECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
Long term borrowings
Rupees term loans from banks	5.083	10.676
Short term borrowings
Working capital loans from banks	3131.695	3032.311
Total	3136.778	3042.987

Banking Relations :	---
Auditors :
Name :	Gupta Sarda and Bagdia Chartered Accountants
Address :	6-Farmland Central Bazar Road, Nagpur, Maharashtra, India
PAN No.:	AAAFG8821D
Memberships :	-----
Collaborators :	-----
Enterprises over which Key Management	· Sunrise Structural and Engineering Private Limited · [U45208MH1980PTC022816] · Diu Ispat Udyog Private Limited [U27100MH1988PTC046143] · Liberty Computer and Stationary Limited [U30007MH1990PLC056918] · Sanvijay Auto Engineering Private Limited [U45209MH1995PTC094474] · Prograssive Casting Private Limited [U74899MH1994PTC193861] · Somu Steel and Power Limited · Prakash Traders Private Limited · Satya Shyam Steels Private Limited [U27101CT2005PTC017500]
Subsidiaries :	· Grace Industries Limited [U27100MH2003PLC141810] · Maharashtra Coal Company Private Limited [U10100MH2008PTC186624]
Others :	· Prakash Traders
Group Companies :	· Sanvijay Steel Private Limited · Sanvijay Alloys Private Limited · Prakash Ispat Udyog · Sanvijay Industries Private Limited

CAPITAL STRUCTURE

As on: 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	50.000	50.000	50.000
(b) Reserves & Surplus	3786.187	3518.702	3266.813
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	300.000
Total Shareholders’ Funds (1) + (2)	3836.187	3568.702	3616.813
(3) Non-Current Liabilities
(a) long-term borrowings	416.177	622.432	650.443
(b) Deferred tax liabilities (Net)	228.551	224.684	210.288
(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)	644.728	847.116	860.731
(4) Current Liabilities
(a) Short term borrowings	3299.695	3142.810	3274.830
(b) Trade payables	436.662	307.922	263.562
(c) Other current liabilities	432.806	307.329	524.754
(d) Short-term provisions	0.211	0.167	0.136
Total Current Liabilities (4)	4169.374	3758.228	4063.282
TOTAL	8650.289	8174.046	8540.826
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1340.008	1373.527	1330.108
(ii) Intangible Assets	1.856	2.481	2.636
(iii) Capital work-in-progress	59.415	31.670	29.837
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	251.709	251.609	251.479
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	323.570	668.447	645.810
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1976.558	2327.734	2259.870
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3472.629	2883.923	3080.646
(c) Trade receivables	2283.225	1407.776	1929.417
(d) Cash and cash equivalents	31.395	79.761	57.604
(e) Short-term loans and advances	886.482	1474.852	1213.289
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	6673.731	5846.312	6280.956
TOTAL	8650.289	8174.046	8540.826

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	11508.584	10552.973	10371.398
		Other Income	12.422	33.296	31.831
		TOTAL (A)	11521.006	10586.269	10403.229
Less	EXPENSES
		Cost of material consumed	8828.608	7380.277	7010.226
		Purchase of stock in trade	1543.272	1231.005	677.128
		Changes in inventories of finished goods, work in progress and stock in trade	(707.040)	(24.477)	306.341
		Employee benefit expenses	148.802	141.877	130.267
		Other expenses	1179.996	1121.995	1115.773
		Prior period items before tax	(2.849)	2.460	2.645
		Exceptional items before tax	0.000	(47.287)	0.000
		TOTAL (B)	10990.789	9805.850	9242.380
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		530.217	780.419	1160.849
Less	FINANCIAL EXPENSES (D)		350.919	426.019	390.595
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		179.298	354.400	770.254
Less/ Add	DEPRECIATION/ AMORTISATION (F)		115.888	118.141	115.173
	PROFIT BEFORE TAX (E-F) (G)		63.410	236.259	655.081
Less	TAX (H)		30.990	73.484	168.494
	PROFIT AFTER TAX (G-H) (I)		32.420	162.775	486.587
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2189.484	2176.709	1840.122
Less	APPROPRIATIONS		0.000	150.000	150.000
	BALANCE CARRIED TO THE B/S		2221.904	2189.484	2176.709
	Earnings Per Share (Rs.)		64.84	325.55	973.17

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	0.28	1.54	4.69
Operating Profit Margin (PBIDT/Sales)	(%)	4.61	7.40	11.19
Return on Total Assets (PBT/Total Assets}	(%)	0.76	2.99	7.93
Return on Investment (ROI) (PBT/Networth)		0.02	0.07	0.18
Debt Equity Ratio (Total Debt /Networth)		0.97	1.06	1.09
Current Ratio (Current Asset/Current Liability)		1.60	1.56	1.55

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	50.000	50.000	50.000
Reserves & Surplus	3266.813	3518.702	3786.187
Net worth	3316.813	3568.702	3836.187
long-term borrowings	650.443	622.432	416.177
Short term borrowings	3274.830	3142.810	3299.695
Total borrowings	3925.273	3765.242	3715.872
Debt/Equity ratio	1.183	1.055	0.969

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	10371.398	10552.973	11508.584
		1.751	9.055

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	10371.398	10552.973	11508.584
Profit	486.587	162.775	32.420
	4.69%	1.54%	0.28%

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	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
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 31.03.2013	As on 31.03.2012
Long term borrowings
Deferred payment liabilities	108.389	111.266
Loans and advance from directors	244.604	425.442
Loans and advance from others	48.101	59.106
Other loans and advance	10.000	15.941
Short term borrowings
Other loans and advance, others	168.000	110.500
Total	579.094	722.255

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10489045	29/03/2014	400,000,000.00	STATE BANK OF INDIA	STATE BANK OF INDIA, BHARAT NAGAR, AMRAVATI ROAD,  , NAGPUR, MAHARASHTRA - 440033, INDIA	C02922524
2	10466756	26/11/2013	300,000,000.00	IDBI BANK LIMITED	3RD FLOOR, GUPTA TOWER, TEMPLE ROAD, CIVIL LINES, NAGPUR, MAHARASHTRA - 440001, INDIA	B92196161
3	10003936	15/04/2014 *	2,850,000,000.00	UCO BANK	UCO BANK, ITWARI BRANCH,SALASAR PLAZA,POSTOFC RD,  GANDHIBAGH, NAGPUR, MAHARASHTRA - 440002, INDIA	C03366341
4	90236445	15/04/2014 *	2,850,000,000.00	UCO BANK	UCO BANK, ITWARI BRANCH,SALASAR PLAZA,POSTOFC RD,  GANDHIBAG, NAGPUR, MAHARASHTRA - 440002, INDIA	C03362431

* Date of charge modification

FIXED ASSETS:

• Land
• Shed and Building
• Plant and Machinery
• Electrical Installation
• Laboratory and Testing Equipments
• Rolls
• Generator
• Computers
• Furniture and Fixture
• 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 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. 61.97
UK Pound	1	Rs. 97.36
Euro	1	Rs. 77.16

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUM
Report Prepared by :	ASH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.