MIRA INFORM REPORT

Report Date :

13.03.2014

IDENTIFICATION DETAILS

Name :	RUNGTA MINES LIMITED
Registered Office :	42 A, Shakespe Sarani, 8 A, Express Tower, Kolkata – 700017, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.12.1962
Com. Reg. No.:	21-025691
Capital Investment / Paid-up Capital :	Rs. 1226.310 Millions
CIN No.: [Company Identification No.]	U26911WB1962PLC025691
PAN No.: [Permanent Account No.]	AABCR6463N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Sponge Iron and Mining.
No. of Employees :	Information Declined by the management.

RATING & COMMENTS

MIRA’s Rating :

A (64)

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

Maximum Credit Limit :	USD 294000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the company is strong and healthy. Trade relations are reported to be fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

State-run banks hired nearly 300000 personnel including more than 94000 officers in the last four years, according to the Indian Banks Association. A study by trade lobby Assocham in September 2013 indicated that banks would need 800000 people in the next six years. It estimated that state-run lenders alone would hire 50000 people in 2013/14.

The Competition Commission of India plans to issue final orders within a broad time-frame of one year in matters where it decides to carry out detailed investigations. The number of complaints received by the watchdog which keeps tabs on unfair trade practices in the marketplace.

The government has detected custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.

Connaught Place in New Delhi slipped four notches to become the world’s eighth most expensive office locations. London’s West End is the world’s most expensive office market.

There are 4.072 mn number of high value spenders under the scanner of the income tax department. The income tax department has information that they have made cash deposits announcing to Rs 1 mn or more in their savings bank accounts in the current financial year. It plans to check potential evasion before the closing of the financial year on March 31.

Estimated pharmaceutical sales in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago. The life sciences and health care industry is up against challenges such as quality management, says a recent Deloitte report.

The gross non-performing assets of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore to their gross NPAs in nine months with the State Bank of India leading with the State Bank of India leading with an accretion of Rs 16610 crore.

The inflow of smuggled gold doubled in 2013 following restrictions to curb the supply from official channels to contain the current account deficit. China surpassed India in the demand for gold for the first time in 2013 due to liberalization of gold trading norms by its local governments.

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Long term rating: “AA+”
Rating Explanation	High degree of safety and very low credit risk.
Date	02.08.2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED

Management non-cooperative (Tel. No.: 91-33-22816580)

LOCATIONS

Registered Office :	42 A, Shakespe Sarani, 8 A, Express Tower, Kolkata – 700017, West Bengal, India
Tel. No.:	91-33-22816580 / 3751
Fax No.:	91-33-22815380
E-Mail :	rungta_cal@sify.com rungtas@satyam.net.in
Website :	www.rungtamines.com
Head Office/ Admin Office/ Corporate Office :	Rungta House, Cable-Rungta, Singhbhum (West), Chaibasa-833201, Jharkhand, India
Tel. No.:	91-6582-256861/256761/256861
Fax No.:	91-6582-256442
E-Mail :	rungtas@satyam.net.in rml@satyam.net.in

DIRECTORS

As on: 30.07.2013

Name :

Mr. Nandlal Rungta

Designation :

Managing Director

Address :

Rungta House, Chaibasa, Singhbhum West – 833201, Jharkhand, India

Date of Birth/Age :

05.04.1950

Qualification:

B.Sc

Date of Appointment :

01.04.2012

Pan No.:

AGHPR2545J

DIN No.:

00114135

Voter ID No.:

BR/51/295/189270

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45201OR1958NPL008546	EASTERN ZONE MINING ASSOCIATION	Director	03/08/1979	03/08/1979	13/11/2009	Active	NO
2	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	05/01/1983	05/01/1983	-	Active	NO
3	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	15/10/1984	15/10/1984	-	Active	NO
4	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Managing director	01/04/2012	07/01/1985	-	Active	NO
5	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	08/03/1987	08/03/1987	-	Active	NO
6	U65993WB1940PLC010354	MINERALS AND METALS LIMITED	Director	26/06/1992	26/06/1992	-	Active	NO
7	U70101WB1951PTC019809	MANGILALL ESTATES PRIVATE LIMITED	Director	30/06/1992	30/06/1992	-	Active	NO
8	U24117OR1978PLC000753	ELECTROCHEM ORISSA LIMITED	Director	07/09/1992	07/09/1992	-	Active	NO
9	U51420OR1994PLC003707	BANSPANI IRON LIMITED	Managing director	16/09/1994	16/09/1994	-	Active	NO
10	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	02/12/1995	02/12/1995	-	Active	NO
11	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
12	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
13	U85100OR2009NPL011422	EZMA FOUNDATION	Director	16/12/2009	16/12/2009	-	Active	NO
14	U92410JH2012NPL000254	COUNTRY CRICKET CLUB	Director	07/03/2012	07/03/2012	-	Active	NO

Name :

Mr. Mukund Rungta

Designation :

Director

Address :

Rungta House, Chaibasa, Singhbhum West - 833201, Jharkhand, India

Date of Birth/Age :

14.01.1958

Qualification:

Intermediate

Date of Appointment :

07.02.2011

Pan No.:

AACHM9117N

DIN No.:

00072640

Voter ID No.:

BR/51/295/189271

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24117OR1978PLC000753	ELECTROCHEM ORISSA LIMITED	Director	08/08/1984	08/08/1984	-	Active	NO
2	U65993WB1940PLC010354	MINERALS AND METALS LIMITED	Director	05/09/1985	05/09/1985	-	Active	NO
3	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	26/06/1992	26/06/1992	-	Active	NO
4	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Managing director	26/02/2011	27/06/1992	-	Active	NO
5	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	29/06/1992	29/06/1992	-	Active	NO
6	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	14/02/2011	30/06/1992	-	Active	NO
7	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Director	07/02/2011	30/06/1992	-	Active	NO
8	U70101WB1951PTC019809	MANGILALL ESTATES PRIVATE LIMITED	Director	30/06/1992	30/06/1992	-	Active	NO
9	U51420OR1994PLC003707	BANSPANI IRON LIMITED	Director	26/10/2002	26/10/2002	-	Active	NO
10	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	08/02/2008	-	Active	NO
11	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	08/02/2008	-	Active	NO

Name :

Mr. Siddharth Rungta

Designation :

Director

Address :

Rungta House, Chaibasa, Singhbhum West – 833201, Jharkhand, India

Date of Birth/Age :

15.07.1977

Qualification:

MBA, B.Com

Date of Appointment :

07.02.2011

Pan No.:

ADFPR2591D

DIN No.:

00112057

Voter ID No.:

FYD0551671

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Director	07/02/2011	03/07/2001	-	Active	NO
2	L67120WB1993PLC057677	ORISSA SECURITIES LIMITED	Director	12/11/2001	12/11/2001	-	Active	NO
3	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	04/02/2002	04/02/2002	-	Active	NO
4	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	30/04/2005	30/04/2005	-	Active	NO
5	U70101WB1951PTC019809	MANGILALL ESTATES PRIVATE LIMITED	Director	03/05/2005	03/05/2005	-	Active	NO
6	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	07/02/2011	04/05/2005	-	Active	NO
7	U65993WB1940PLC010354	MINERALS AND METALS LIMITED	Director	04/05/2005	04/05/2005	-	Active	NO
8	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	04/05/2005	04/05/2005	-	Active	NO
9	U45203OR2006PLC008959	HARIDASPUR PARADIP RAILWAY COMPANY LIMITED	Nominee director	15/05/2007	15/05/2007	-	Active	NO
10	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
11	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
12	U10100JH2008PTC013329	C T MINING PRIVATE LIMITED	Nominee director	25/09/2008	25/09/2008	-	Active	NO
13	U10100WB2009PTC138134	MEDNIRAI COAL MINING PRIVATE LIMITED	Nominee director	01/09/2009	01/09/2009	-	Active	NO
14	U74899DL1969NPL005064	FEDERATION OF INDIA MINERAL INDUSTRIES	Director	28/10/2009	28/10/2009	-	Active	NO
15	U10100OR2010PTC011795	RADHIKAPUR (WEST) COAL MINING PRIVATE LIMITED	Nominee director	29/03/2010	29/03/2010	-	Active	NO
16	U74899WB1995PTC165878	HOLLY HOCK FARMS PRIVATE LIMITED	Director	14/06/2011	26/07/2010	-	Active	NO
17	U74899WB1995PTC165792	COLUMBINE FARMS PRIVATE LIMITED	Director	14/06/2011	26/07/2010	-	Active	NO
18	U85199WB1996PTC167219	ARAVALI HEALTH FARM PRIVATE LIMITED	Director	14/06/2011	26/07/2010	-	Active	NO

Name :

Mr. Mahesh Dutt Rustangi

Designation :

Whole-time Director

Address :

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

Date of Birth/Age :

01.09.1940

Qualification:

Mining Engineer

Date of Appointment :

12.01.2008

Pan No.:

ADCPR4928H

DIN No.:

01219014

Voter ID No.:

DL/03/020/183020

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51420OR1994PLC003707	BANSPANI IRON LIMITED	Director	25/06/1997	25/06/1997	-	Active	NO
2	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	04/02/2008	10/01/2008	-	Active	NO
3	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	02/08/2008	12/01/2008	-	Active	NO
4	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	02/08/2008	12/01/2008	-	Active	NO
5	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Whole-time director	12/01/2008	12/01/2008	-	Active	NO
6	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	01/09/2012	05/10/2011	-	Active	NO

Name :

Mr. Hirak Mazumder

Designation :

Director

Address :

At-Rungta Office, Main Road, Barbil, Keonjhar – 758035, Orissa, India

Date of Birth/Age :

05.05.1961

Qualification:

Geologist

Date of Appointment :

12.08.2011

Pan No.:

ABFPM4516K

DIN No.:

03473973

Name :

Mr. Ashutosh Mohanty

Designation :

Whole Time Director

Address :

2A, Diamond, Padma Enclave Sen Tola, Chaibasa, West Singhbhum – 833201, Jharkhand, India

Date of Birth/Age :

16.06.1972

Qualification:

CA

Date of Appointment :

25.09.2012

Pan No.:

ADBPM4934D

DIN No.:

02219702

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U10100JH2008PTC013329	C T MINING PRIVATE LIMITED	Nominee director	25/09/2008	25/09/2008	-	Active	NO
2	U10100WB2009PTC138134	MEDNIRAI COAL MINING PRIVATE LIMITED	Nominee director	01/09/2009	01/09/2009	-	Active	NO
3	U10100OR2010PTC011795	RADHIKAPUR (WEST) COAL MINING PRIVATE LIMITED	Nominee director	29/03/2010	29/03/2010	-	Active	NO
4	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	23/09/2011	26/02/2011	-	Active	NO
5	U60231WB1996PLC077174	MOBAR INDIA LIMITED	Director	03/08/2012	11/05/2011	-	Active	NO
6	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	03/09/2012	16/05/2012	-	Active	NO
7	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	03/09/2012	16/05/2012	-	Active	NO
8	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Whole-time director	25/09/2012	01/07/2012	-	Active	NO

Name :

Mr. Vikesh Singh

Designation :

Whole Time Director

Address :

Rungta House, Chaibasa, Singhbhum West – 833201, Jharkhand, India

Date of Birth/Age :

03.11.1961

Qualification:

CWA

Date of Appointment :

25.09.2012

Pan No.:

AJYPS3616F

DIN No.:

00225499

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U10100JH2008PTC013329	C T MINING PRIVATE LIMITED	Nominee director	25/09/2008	25/09/2008	-	Active	NO
2	U10100WB2009PTC138134	MEDNIRAI COAL MINING PRIVATE LIMITED	Nominee director	01/09/2009	01/09/2009	-	Active	NO
3	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Whole-time director	25/09/2012	01/07/2012	-	Active	NO

Name :

Mr. Ram Shankar Chaudhary

Designation :

Whole Time Director

Address :

3. MIG Sangam Vihar, Po-Sonari, Jamshedpur-831011, Jharkhand, India

Date of Birth/Age :

01.01.1952

Qualification:

B.E

Date of Appointment :

25.09.2012

Pan No.:

ABUPC5412H

DIN No.:

05335501

KEY EXECUTIVES

Name :	Mr. Ashok Kumar
Designation :	Secretary
Address :	At Sriniketan Apartment, Flat No. 301, Block B, Near RI Office, Barbil, Keonjhar-758035, Orissa, India
Date of Birth/Age :	20.12.1969
Date of Appointment :	30.12.2010
PAN No.:	AJZPK1515G

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.07.2013

Names of Shareholders	No. of Shares
Sitaram Rungta (HUF)	115005000
Nandlal Rungta (HUF)	238251000
Mukund Rungta (HUF)	381054000
Nandlal Rungta	176505000
Mukund Rungta	112340000
Siddharth Rungta	59163000
Manju Rungta	24600000
Preeti Rungta	109470000
Shradha Rungta	9922000
TOTAL	1226310000

Equity Share Break up (Percentage of Total Equity)

As on: 30.07.2013

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Sponge Iron and Mining.

Products :

Product Description	Item Code No.
Iron Ore Lumps	26011101
Sponge Iron	72031000
Manganese Ore	26020004
M S Billet	72071920

GENERAL INFORMATION

Customers :

IRON ORE

Steel Mills

Bhilai Steel Plant (SAIL - Madhya Pradesh)

Bokaro Steel Plant (SAIL - Jharkhand)

Durgapur Steel Plant (SAIL - West Bengal)

Indian Iron and Steel Company Limited. (IISCO - West Bengal)

Neelachal Ispat Nigam Limited.- Orissa (proposed)

Rourkela Steel Plant (SAIL - Orissa)

Sponge Iron Plants

Bihar Sponge Iron Limited

Essar Steel Limited (Gujarat)

HEG Limited (Madhya Pradesh)

Ispat Industries Limited (Maharashtra)

Jindal Strips Limited (Madhya Pradesh)

Lloyds Metals and Engineers Limited (Maharashtra)

Monnet Industries Limited (Maharashtra)

Nova Iron and Steel Company Limited (Madhya Pradesh)

Orissa Sponge Iron Limited (Orissa)

Prakash Industries Limited. (Madhya Pradesh)

Raipur Alloys and Steel Limited (Madhya Pradesh)

Rexon Strips Limited (Orissa)

Sunflag Iron and Steel Company Limited (Maharashtra)

Surya Sponge Iron Limited (Orissa)

Tata Sponge Iron Limited. (Orissa)

Pig Iron Plants

Electro Steel Castings Limited (West Bengal)

Jaiswal Neco Limited (Madhya Pradesh)

Kajaria Iron and Castings Limited (West Bengal)

Malavika Steel Limited (Uttar Pradesh)

Usha Martin Industries Limited (Jharkhand)

Cement Plants

ACC Cement Limited

Gujarat Ambuja Cement Limited

Kalyanpur Lime and Cement Works (Bihar)

>>

MAGANESE ORE

Battery Industry

Eveready Industries India Limited

>>

Steel Mills

Bokaro Steel Plant (SAIL - Jharkhand)

Durgapur Steel Plant (SAIL - (West Bengal)

Indian Iron and Steel Company Limited (IISCO - West Bengal)

Rourkela Steel Plant (SAIL - Orissa)

Ferro Manganese Plants

Bhaskar Shrachi Alloys Limited (West Bengal)

Ferro Alloys Corpn. Limited (Andhra Pradesh)

Ispat Alloys Limited (Orissa)

Impex Ferro Tech Limited (West Bengal)

KFA Manganese (Maharashtra)

Maharashtra Electosmelt Limited

Monnet Ferroalloys Limited (West Bengal)

Shyam Ferro Alloys (West Bengal)

UFA International (Madhya Pradesh)

Pig Iron Plant

Electro Steel Castings Limited (West Bengal)

Malavika Steel Limited (Uttar Pradesh)

Usha Martin Industries Limited (Jharkhand)

No. of Employees :

Information Declined by the management.

Bankers :

Canara Bank, Jain Market, Chaibasa - 833201, Jharkhand, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long term borrowings
Term loans from others	0.000	73.877
Short term borrowings
Working capital loans from banks	3879.905	2384.538
Total	3879.905	2458.415

Banking Relations :	--
Auditors :
Name :	R S Choumal and Company Chartered Accountants
Address :	17, Ganesh Chandra Avenue, Kolkata – 700013, West Bengal, India
PAN No.:	ACRPC5153F
Subsidiaries :	· JP Cements Limited · Aravali Health Farm Private Limited · Columbine Farms Private Limited · Holly Hock Farms Private Limited · C T Mining Private Limited · Electrochem Orissa Limited · Mednirai Coal Mining Private Limited · Mobar India Limited
Related Parties :	· Bonai Industrial Company Limited · Banspani Iron Limited · Rungta Sons Private Limited · Feegrade and Company Private Limited · Mangilall Estates Private Limited · Minerals and Metals Limited

CAPITAL STRUCTURE

As on: 30.07.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000000	Equity Shares	Re.1/- each	Rs.2500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1226310000	Equity Shares	Rs.1/- each	Rs 1226.310 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1,226.310	1,226.310
(b) Reserves & Surplus	72,330.732	59,534.932
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	73,557.042	60,761.242
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	73.877
(b) Deferred tax liabilities (Net)	451.868	200.856
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	451.868	274.733
(4) Current Liabilities
(a) Short term borrowings	3,879.905	2,384.538
(b) Trade payables	1,295.407	1,480.206
(c) Other current liabilities	1,324.035	2,696.826
(d) Short-term provisions	450.703	682.773
Total Current Liabilities (4)	6,950.050	7,244.343
TOTAL	80,958.960	68,280.318
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	6,246.380	3,685.193
(ii) Intangible Assets	7.060	7.829
(iii) Capital work-in-progress	4,771.168	5,533.553
(iv) Intangible assets under development	46.798	28.311
(b) Non-current Investments	1,268.078	1,064.675
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	888.474	810.141
(e) Other Non-current assets	478.195	710.812
Total Non-Current Assets	13,706.153	11,840.514
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	2,712.820	1,929.038
(c) Trade receivables	1,104.600	1,297.115
(d) Cash and cash equivalents	52,332.637	44,839.464
(e) Short-term loans and advances	1,102.163	1,848.391
(f) Other current assets	10,000.587	6,525.796
Total Current Assets	67,252.807	56,439.804
TOTAL	80,958.960	68,280.318

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		1226.310
2] Share Application Money		0.000
3] Reserves & Surplus		46183.263
4] (Accumulated Losses)		0.000
NETWORTH		47409.573
LOAN FUNDS
1] Secured Loans		4141.269
2] Unsecured Loans		0.000
TOTAL BORROWING		4141.269
DEFERRED TAX LIABILITIES		208.218
TOTAL		51759.060
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3820.539
Capital work-in-progress		3067.121
INVESTMENT		684.547
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2106.567
	Sundry Debtors	2449.946
	Cash & Bank Balances	36980.018
	Other Current Assets	3254.134
	Loans & Advances	2329.600
Total Current Assets		47120.265
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	530.761
	Other Current Liabilities	1972.563
	Provisions	596.925
Total Current Liabilities		3100.249
Net Current Assets		44020.016
MISCELLANEOUS EXPENSES		166.837
TOTAL		51759.060

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	34948.189	42344.917	30793.640
	Other Income	5449.519	4510.107	3409.447
	TOTAL (A)	40397.708	46855.024	34203.087
Less	EXPENSES
	Cost of Materials Consumed	4131.142	4160.646
	Purchases of Stock-in-Trade	0.000	7.955
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	287.246	60.580
	Employees benefits expense	807.916	771.233
	Other expenses	14919.539	20971.648
	TOTAL (B)	20145.843	25972.062	16183.345
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	20251.865	20882.962	18019.742
Less	FINANCIAL EXPENSES (D)	265.580	284.575	269.673
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	19986.285	20598.387	11750.069
Less/ Add	DEPRECIATION/ AMORTISATION (F)	604.829	421.934	439.733
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	19381.456	20176.453	17310.336
Less	TAX (I)	6298.712	6539.737	5756.372
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	13082.744	13636.716	11553.964
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	522242.022	40254.027	31335.525
	APPROPRIATIONS
	Transfer to General Reserve	1308.275	1363.671	1439.263
	Dividend	245.262	245.262
	Tax on Dividend	41.682	39.788
	Balance Carried to the B/S	63729.547	52242.022	41450.226
	EARNINGS IN FOREIGN CURRENCY	NA	NA	1007.017
	IMPORTS
	Components and Stores parts	NA	NA	3.418
	TOTAL IMPORTS	NA	NA	3.418
	Earnings / (Loss) Per Share (Rs.)	10.67	11.12	9.42

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	32.38	29.10	33.79
Net Profit Margin (PBT/Sales)	(%)	55.46	47.65	56.21
Return on Total Assets (PBT/Total Assets}	(%)	25.89	32.73	33.98
Return on Investment (ROI) (PBT/Networth)		0.26	0.33	0.37
Debt Equity Ratio (Total Debt/Networth)		0.05	0.05	0.09
Current Ratio (Current Asset/Current Liability)		9.68	7.79	15.20

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	1,226.310	1,226.310
Reserves & Surplus	59,534.932	72,330.732
Net worth	60,761.242	73,557.042
long-term borrowings	73.877	0.000
Short term borrowings	2,384.538	3,879.905
Total borrowings	2,458.415	3,879.905
Debt/Equity ratio	0.040	0.053

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	30,793.640	42,344.917	34,948.189
		37.512	(17.468)

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	30,793.640	42,344.917	34,948.189
Profit	11,553.964	13,636.716	13,082.744
	37.52%	32.20%	37.43%

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	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10196340	02/12/2009	600,000,000.00	CANARA BANK	CANARA BANK, JAIN MARKET, CHAIBASA, Jharkhand - 833201, INDIA	A77044808
2	10139940	10/11/2008	300,000,000.00	CANARA BANK	SADAR BAZAR, CHAIBASA, Jharkhand - 833201, INDIA	A53622353
3	90250809	02/12/2009 *	400,000,000.00	CANARA BANK	CANARA BANK, JAIN MARKET, CHAIBASA, Jharkhand - 833201, INDIA	A77490399
4	90251313	07/03/2006 *	1,500,000,000.00	CANARA BANK	CHAIBASA BRANCH, CHAIBASA, Jharkhand - 833201, INDIA	-
5	90250550	03/05/2005 *	1,500,000,000.00	CANARA BANK	CHAIBASA BRANCH, CHAIBASA, Jharkhand - 833201, INDIA	-

* Date of charge modification

FIXED ASSETS:

• Building and Shed and others
• Coal Shed
• Computer and Peripherals
• Crusher and Screening Plant
• Culvert
• Cycle
• Drill Machines
• Earth Movers
• Electrical and Pipline Fitting
• Office Premises
• Flat and Building
• Furniture and Fixtures
• Internal Road
• Labour Hunting and Shed

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. 61.09
UK Pound	1	Rs. 101.59
Euro	1	Rs. 84.66

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	8
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		64

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.