MIRA INFORM REPORT

Report Date :

06.04.2014

IDENTIFICATION DETAILS

Name :	FEEGRADE AND COMPANY PRIVATE LIMITED
Registered Office :	8A, Express Tower, 42A, Shakespeare Sarani, Kolkata – 700017, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	14.09.1964
Com. Reg. No.:	21-026218
Capital Investment / Paid-up Capital :	Rs. 44.982 Millions
CIN No.: [Company Identification No.]	U10200WB1964PTC026218
PAN No.: [Permanent Account No.]	AAACF6825D
Legal Form :	Private Limited Liability Company
Line of Business :	Mining of Iron and Manganese Ores.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (62)

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 40430000
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 relation reported to be fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

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

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

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

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

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

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

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

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

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

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

EXTERNAL AGENCY RATING

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

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-33-22816580)

LOCATIONS

Registered Office :	8A, Express Tower, 42A, Shakespeare Sarani, Kolkata – 700017, West Bengal, India
Tel. No. :	91-33-22816580
Fax No. :	91-33-22815380
E-Mail :	rungtas@satyam.net.in
Branch Office:	Main Road - Barbil, Keonjhar,– 758035, Orissa, India
E-Mail:	rugtabbl@yahoo.com

DIRECTORS

As on 30.07.2013

Name :

Mr. Nandlal Rungta

Designation :

Director

Address :

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

Date of Birth/Age :

05.04.1950

Date of Appointment :

05.01.1983

PAN No.:

AGHPR2545J

DIN No. :

00114135

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45201OR1958NPL008546	EASTERN ZONE MINING ASSOCIATION	Director	03/08/1979	03/08/1979	13/11/2009	Active	NO
2	U10200WB1964PTC026218	FEEGRADE AND COMPANY PRIVATE LIMITED	Director	05/01/1983	05/01/1983	-	Active	NO
3	U14109OR1939PLC000246	BONAI INDUSTRIAL COMPANY LIMITED	Director	15/10/1984	15/10/1984	-	Active	NO
4	U26911WB1962PLC025691	RUNGTA MINES LIMITED	Managing director	01/04/2012	07/01/1985	-	Active	NO
5	U02005WB1943PTC011231	RUNGTA SONS PRIVATE LIMITED	Director	08/03/1987	08/03/1987	-	Active	NO
6	U65993WB1940PLC010354	MINERALS AND METALS LIMITED	Director	26/06/1992	26/06/1992	-	Active	NO
7	U70101WB1951PTC019809	MANGILALL ESTATES PRIVATE LIMITED	Director	30/06/1992	30/06/1992	-	Active	NO
8	U24117OR1978PLC000753	ELECTROCHEM ORISSA LIMITED	Director	07/09/1992	07/09/1992	-	Active	NO
9	U51420OR1994PLC003707	BANSPANI IRON LIMITED	Managing director	01/04/2013	16/09/1994	-	Active	NO
10	U51909WB1951PLC019815	SHYAM SUNDAR LIMITED	Director	02/12/1995	02/12/1995	-	Active	NO
11	U26959ML2008PLC008300	JP CEMENTS LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
12	U26942ML2007PTC008248	KB CEMENTS PRIVATE LIMITED	Director	30/09/2008	11/02/2008	-	Active	NO
13	U85100OR2009NPL011422	EZMA FOUNDATION	Director	16/12/2009	16/12/2009	-	Active	NO
14	U92410JH2012NPL000254	COUNTRY CRICKET CLUB	Director	07/03/2012	07/03/2012	-	Active	NO

Name :

Mr. Mukund Rungta

Designation :

Director

Address :

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

Date of Birth/Age :

14.01.1958

Date of Appointment :

29.06.1992

PAN No. :

ACWPR8842H

DIN No. :

00072640

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	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, West Singhbhum – 833201, Jharkhand, India

Date of Birth/Age :

15.07.1977

Date of Appointment :

07.02.2011

PAN No. :

ADFPR2591D

DIN No. :

00112057

Other Directorship :

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

Name :

Mr. Mahesh Dutt Rustagi

Designation :

Director

Address :

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

Date of Birth/Age :

01.09.1940

Date of Appointment :

02.08.2008

PAN No. :

ADCPR4928H

DIN No. :

01219014

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	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. Ashutosh Mohanty

Designation :

Director

Address :

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

Date of Birth/Age :

16.06.1972

Date of Appointment :

03.09.2012

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	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

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.07.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Sitaram Rungta (HUF)	2142000	4.76
Nandlal Rungta (HUF)	9282000	20.63
Mukund Rungta (HUF)	17493000	38.89
Nandlal Rungta	3570000	7.94
Mukund Rungta	2142000	4.76
Siddharth Rungta	3315000	7.37
Manju Rungta	2499000	5.56
Preeti Rungta	3570000	7.94
Shradha Rungta	969000	2.15
Total	44982000	100.00

As on 30.07.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Mining of Iron and Manganese Ores.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

State Bank of India, Chaibasa, West Singhbhum, Chaibasa - 833201, Jharkhand, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks (Secured by hypothecation of Railway Rake alongwith wheel sets)	0.000	26.480
SHORT TERM BORROWINGS
Loans repayable on demand from banks (Secured by pledging of Fixed Deposits worth Rs.538.900 Millions)	455.538	381.559
Total	455.538	408.039

Banking Relations :	--
Auditors :
Name :	Manpuria and Company Chartered Accountants
Address :	11, Pollock Street, 1^st Floor , Kolkata – 700001, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	ADOPM0549L
Subsidiary Company:	KB Cements Private Limited CIN No.: U26942ML2007PTC008248
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Rungta Mines Limited CIN No.: U26911WB1962PLC025691 · Rungta Sons Private Limited CIN No.: U02005WB1943PTC011231 · Bonai Industrial Co Limited CIN No.: U14109OR1939PLC000246 · Mangilall Estates Private Limited CIN No.: U70101WB1951PTC019809

CAPITAL STRUCTURE

After 30.07.2013

Authorised Capital : Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 449.820 Millions

As on 30.07.2013

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
44982000	Equity Shares	Re.1/- each	Rs. 44.982 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	44.982	44.982
(b) Reserves & Surplus	10062.889	8340.606
(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)	10107.871	8385.588
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	26.480
(b) Deferred tax liabilities (Net)	29.398	33.630
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	29.398	60.110
(4) Current Liabilities
(a) Short term borrowings	455.538	381.559
(b) Trade payables	91.018	95.543
(c) Other current liabilities	110.143	323.661
(d) Short-term provisions	18.496	17.811
Total Current Liabilities (4)	675.195	818.574
TOTAL	10812.464	9264.272
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	588.817	638.306
(ii) Intangible Assets	0.510	0.284
(iii) Capital work-in-progress	69.376	71.475
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	45.442	45.442
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	31.960	32.253
(e) Other Non-current assets	746.307	864.105
Total Non-Current Assets	1482.412	1651.865
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	220.118	174.361
(c) Trade receivables	232.062	89.550
(d) Cash and cash equivalents	7905.142	7048.362
(e) Short-term loans and advances	196.369	117.460
(f) Other current assets	776.361	182.674
Total Current Assets	9330.052	7612.407
TOTAL	10812.464	9264.272

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		372.320
2] Share Application Money		0.000
3] Reserves & Surplus		10998.700
4] (Accumulated Losses)		0.000
NETWORTH		11371.020
LOAN FUNDS
1] Secured Loans		26404.400
2] Unsecured Loans		2734.000
TOTAL BORROWING		29138.400
DEFERRED TAX LIABILITIES		90.500
TOTAL		40599.920
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17643.400
Capital work-in-progress		12187.300
INVESTMENT		1465.200
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	642.100
	Sundry Debtors	2287.000
	Cash & Bank Balances	1526.020
	Other Current Assets	0.000
	Loans & Advances	9085.600
Total Current Assets		13540.720
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1064.700
	Other Current Liabilities	3078.900
	Provisions	93.100
Total Current Liabilities		4236.700
Net Current Assets		9304.020
MISCELLANEOUS EXPENSES		0.000
TOTAL		40599.920

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	4048.575	NA
		Other Income	NA	NA
		TOTAL	NA	NA	8626.700
Less	EXPENSES
		TOTAL	NA	NA	8092.600
	PROFIT/ (LOSS) BEFORE TAX EXCEPTIONAL ITEM		NA	NA	534.100
Add	EXCEPTIONAL ITEM		NA	NA	558.000
	PROFIT/ (LOSS) BEFORE TAX		2567.076	2659.175	1092.100
Less	TAX		834.268	863.372	75.100
	PROFIT/ (LOSS) AFTER TAX		1732.808	1795.803	1017.000
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		7636.015	6120.564	2429.100
	TRANSFER TO TONNAGE TAX RESERVE ACCOUNT UNDER SECTION 115VT OF THE INCOME TAX ACT, 1961		0.000	0.000	250.000
	SHORT PROVISION FOR INCOME TAX FOR EARLIER YEARS		0.000	3.979	0.000
	EXCESS PROVISION FOR FRINGE BENEFIT TAX FOR EARLIER YEARS		0.000	0.001	0.000
	APPROPRIATIONS
		Proposed Dividend	8.996	8.996	93.100
		Dividend Distribution Tax	1.529	1.459	0.000
		Transfer to General Reserve	256.708	265.917	110.000
	BALANCE CARRIED TO THE B/S		9101.590	7636.015	2993.000
	EARNINGS IN FOREIGN CURRENCY
		FOB value of Export	1452.180	3386.773	5417.628
		Dispatch Money	1.459	0.779	0.000
		Dispatch (Demurrage)	3.067	0.000	0.017
		Foreign Exchange Rate Difference	0.064	2.357	0.000
	TOTAL EARNINGS		1456.770	3389.909	5417.645
	IMPORTS
		Components and spare parts	0.000	0.895	0.000
		Capital Goods	18.975	0.000	0.000
	TOTAL IMPORTS		18.975	0.895	0.000
	Earnings / (Loss) Per Share (Rs.)		38.52	39.92	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PBT/Sales)	(%)	63.41	NA	11.79
Return on Total Assets (PBT/Total Assets}	(%)	24.00	29.07	3.50
Return on Investment (ROI) (PBT/Networth)		0.25	0.32	0.10
Debt Equity Ratio (Total Debt/Networth)		0.05	0.05	2.56
Current Ratio (Current Asset/Current Liability)		13.82	9.30	3.20

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	44.982	44.982
Reserves & Surplus	8340.606	10062.889
Net worth	8385.588	10107.871
long-term borrowings	26.480	0.000
Short term borrowings	381.559	455.538
Total borrowings	408.039	455.538
Debt/Equity ratio	0.049	0.045

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 two years	No
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10213532	31/03/2010	20,000,000.00	CANARA BANK	JAIN MARKET, CHAIBASA, CHAIBASA, JHARKHAND - 833201, INDIA	A83573477
2	90251468	26/11/2010 *	1,100,000,000.00	CANARA BANK	JAIN MARKET, SADAR BAZAR, CHAIBASA, JHARKHAND - 833201, INDIA	B01444447

* Date of charge modification

OPERATING RESULTS AND PROFIT

During the year the company achieved turnover of Rs. 4048.575 Millions and profit before tax Rs. 2567.076 Millions. Export Market During the financial year 2012-13 the FOB value of export turnover of the Company was Rs. 1452.180 Millions.

CONTINGENT LIABILITIES:

PARTICULARS	31.03.2013 (Rs. In Millions)
Towards EPCG Bonds/LUT	12.300
Entry Tax	6.437
Total	18.737
NOTE: For goods procured under EPCG scheme the company has executed LUT with custom authorities before the clearance of such goods. Company's liability to pay Entry tax is disputed and no demand has been raised against the company. The matter is pending before Hon'ble Supreme Court of India.

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipment’s

· Other Equipment’s

Intangible Assets

· Computer 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.60.05
UK Pound	1	Rs.101.32
Euro	1	Rs.83.34

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	SUM
Report Prepared by :	MRI

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	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	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		62

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.