MIRA INFORM REPORT

Report Date :

29.10.2014

IDENTIFICATION DETAILS

Name :	BRG IRON AND STEEL COMPANY PRIVATE LIMITED
Registered Office :	Godrej Waterside, Suit No. 402-403-404, Plot No. 5, Sector 5, Salt Lake City, Kolkata-700091, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	12.12.2002
Com. Reg. No.:	21-095499
Capital Investment / Paid-up Capital :	Rs. 2455.705 Millions
CIN No.: [Company Identification No.]	U27101WB2002PTC095499
TAN No.: [Tax Deduction & Collection Account No.]	CALB05984G
PAN No.: [Permanent Account No.]	AACCB2175L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Sponge Iron, Ferro Manganese, Silica Manganese and Stainless Steel Slabs.
No. of Employees :	2000 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 21000000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. The rating constrained on account of company’s moderate financial risk profile and loss that company has incurred from its operational activities. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution.

NOTES :

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

ECGC Country Risk Classification List – June 1, 2014

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

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 PARTED BY

Name :	Mr. Ashish
Designation :	Finance Officer
Contact No.:	91-33-66051400
Date :	27.10.2014

LOCATIONS

Registered Office/ Factory :	Godrej Waterside, Suit No. 402-403-404, Plot No. 5, Sector 5, Salt Lake City, Kolkata-700091, West Bengal, India
Tel. No.:	91-33-40162300 / 66051400 / 22893192 / 93 / 94
Fax No.:	91-33-40162350 / 66051700 / 22893195
E-Mail :	cosecbrg@brggroup.in brg@brggroup.in
Website :	http://www.brggroup.in
Factory :	NH-42, Village Kuranti, PO Moutunga, Dist. Dhenkanal-759122, Orissa, India

DIRECTORS

AS ON 30.09.2013

Name :

Ms. Anjani Kumar Goyal

Designation :

Chairman cum Managing Director

Address :

DL-18, Sita Kunj, Salt Lake City, Kolkata-700091, West Bengal, India

Date of Birth/Age :

06.01.1949

Date of Appointment :

01.02.2011

Din No.:

01585603

Other Directorship :

S.No.	CIN	Name of The Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U26916HR1980PTC010939	INDIAN GAUR GUM PRIVATE LIMITED	Director	1/2/1981	1/2/1981	-	Active	NO
2	U27101WB2002PTC095499	BRG IRON AND STEEL COMPANY. PRIVATE LIMITED	Additional director	6/2/2010	12/12/2002	-	Active	NO
3	U51109WB1996PTC078066	ALLWORTH MERCHANDISE PRIVATE LIMITED	Director	24/02/2003	24/02/2003	-	Active	NO
4	U51909WB1996PTC078600	SUNRISE MERCHANDISE PRIVATE LIMITED	Director	24/02/2003	24/02/2003	-	Active	NO
5	U24298WB1997PTC083224	MARYN INDUSTRIES PRIVATE LIMITED	Director	16/12/2008	16/12/2008	-	Active	NO
6	U74899DL1980PTC010946	JAY GUM CHEMICALS INDIA PRIVATE LIMITED	Director	13/03/2009	13/03/2009	-	Active	NO
7	U51503WB2005PTC103093	DRIVE ENGINEERING PRIVATE LIMITED	Director	10/4/2009	10/4/2009	-	Active	NO
8	U74140DL2008PTC184263	VS PROFESSIONALS PRIVATE LIMITED	Director	18/09/2009	18/09/2009	-	Active	NO
9	U51909DL2008PTC180868	RADINTON TRADEX PRIVATE LIMITED	Director	28/09/2009	28/09/2009	-	Active	NO
10	U25199DL2005PTC135955	PIONEER GEL PRIVATE LIMITED	Director	29/09/2009	29/09/2009	-	Active	NO
11	U51109WB1995PTC072656	DHANTERASH TRACON PRIVATE LIMITED	Director	26/11/2009	26/11/2009	-	Active	NO
12	U67120WB1988PTC043858	DEEPA HOLDING PRIVATE LIMITED	Director	30/11/2009	30/11/2009	-	Active	NO
13	U51909WB1994PTC061543	PUSHPADANT COMMERCIAL PRIVATE LIMITED	Director	30/11/2009	30/11/2009	-	Active	NO
14	U51909WB2009PTC139865	PRATHAM COMMOTRADE PRIVATE LIMITED	Director	4/12/2009	4/12/2009	-	Active	NO
15	U51909WB2009PTC139825	LAKSHYA COMMODEAL PRIVATE LIMITED	Director	4/12/2009	4/12/2009	-	Active	NO
16	U51101WB2009PTC139833	FOURFOLD SUPPLIERS PRIVATE LIMITED	Director	4/12/2009	4/12/2009	-	Active	NO
17	U15314WB1994PTC063246	RAJ KAVIRA MERCANTILE PRIVATE LIMITED	Director	23/03/2011	7/12/2009	-	Active	NO
18	U51909WB1996PTC078657	SAKTHI TRADERS PRIVATE LIMITED	Director	8/12/2009	8/12/2009	-	Active	NO
19	U26900WB1996PTC078669	BRG IRON AND STEEL INDUSTRIES PRIVATE LIMITED	Director	8/12/2009	8/12/2009	-	Active	NO
20	U51109WB2008PTC122364	QUALITY VANIJYA PRIVATE LIMITED	Director	8/12/2009	8/12/2009	-	Active	NO
21	U51109WB2006PTC111945	KONARK TIE UP PRIVATE LIMITED	Director	8/12/2009	8/12/2009	-	Active	NO
22	U67120WB1996PTC077085	NISHANT FISCAL SERVICES PRIVATE LIMITED	Director	30/09/2010	1/2/2010	-	Active	NO
23	U70100WB2008PTC121403	SPRING CITY ESTATES PRIVATE LIMITED	Director	28/02/2011	27/05/2010	-	Active	NO
24	U29219WB1987PTC042304	PAKS TRADE CENTRE PRIVATE LIMITED	Director	14/06/2010	14/06/2010	-	Active	NO
25	U70100WB2010PTC151385	SPRING TOWN REALTORS PRIVATE LIMITED	Director	19/07/2010	19/07/2010	-	Active	NO
26	U51109WB2007PTC113672	HARMONY MERCHANTS PRIVATE LIMITED	Director	30/09/2010	27/07/2010	-	Active	NO
27	U74210WB1994PTC065024	VARDHAMAN GEARS PRIVATE LIMITED	Director	30/09/2010	27/07/2010	-	Active	NO
28	U65910WB1991PTC053637	MUKESH TRADE AND FINANCE PRIVATE LIMITED	Director	30/07/2010	30/07/2010	23/11/2010	Active	NO
29	U45200HR2009PTC039866	HSR INFRASTRUCTURE PRIVATE LIMITED	Director	4/3/2011	4/3/2011	-	Active	NO
30	U40102WB2011PTC162028	BRG INFRAPOWER (INDIA) PRIVATE LIMITED	Director	25/04/2011	25/04/2011	-	Active	NO
31	U40102WB2011PTC162049	BRG RENEWABLE INFRAPOWER (INDIA) PRIVATE LIMITED	Director	26/04/2011	26/04/2011	-	Active	NO
32	U70102WB2010PTC153274	PANCHMUKHI PROJECTS PRIVATE LIMITED	Director	9/5/2011	9/5/2011	-	Active	NO

Name :

Mr. Sandeep Goyal

Designation :

Managing Director

Address :

DL-18, Sita Kunj, Salt Lake City, Kolkata-700091, West Bengal, India

Date of Birth/Age :

02.12.1973

Date of Appointment :

30.09.2010

Din No.:

00276140

Other Directorship :

S.No.	CIN	Name of The Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U27109WB2000PLC091371	G S C CASTOFIRM LIMITED	Director	15/03/2000	15/03/2000	10/3/2009	Active	NO
2	U51109WB1996PTC080975	RCD TRADING PRIVATE LIMITED	Director	12/9/2001	12/9/2001	-	Active	NO
3	U27109WB1995PLC071548	SHYAM FERRO ALLOYS LIMITED	Director	7/6/2003	7/6/2003	-	Active	NO
4	U51909WB1995PTC073411	KECONS TRADECARE PRIVATE LIMITED	Director	31/12/2003	31/12/2003	-	Active	NO
5	U74220WB1992PLC054631	PAFCO LABORATORIES LIMITED	Director	14/02/2005	14/02/2005	-	Active	NO
6	U51109WB1994PTC064288	EVIKA VINCOM PRIVATE LIMITED	Director	1/4/2006	1/4/2006	-	Active	NO
7	U51909WB1994PTC062493	LEDO VYAPAAR PRIVATE LIMITED	Director	1/4/2006	1/4/2006	-	Active	NO
8	U74140WB1993PTC057394	BHUVEE PROFILES AND STAINLESS PRIVATE LIMITED	Managing director	30/09/2010	15/05/2006	-	Active	NO
9	U51109WB1995PTC068654	RABIRUN VINIMAY PRIVATE LIMITED	Managing director	30/09/2010	24/01/2007	-	Active	NO
10	U27100WB2007PTC120297	INTEGERATED EQUIPMENTS AND INFRASERVICES PRIVATE LIMITED	Managing director	30/09/2010	7/11/2007	-	Active	NO
11	U74120WB1994PTC061528	ADVIN FISCAL SERVICES PRIVATE LIMITED	Director	28/07/2008	1/4/2008	-	Active	NO
12	U51109WB1994PTC063125	ASHDIL TRADING COMPANY PRIVATE LIMITED	Director	28/07/2008	1/4/2008	-	Active	NO
13	U25112WB2008PTC130382	INTEGERATED PIPES AND TUBES PRIVATE LIMITED	Director	10/11/2008	10/11/2008	-	Active	NO
14	U29120WB2008PTC131341	BHUVEE HOUSEHOLD UTENSILS AND PIPES PRIVATE LIMITED	Director	18/12/2008	18/12/2008	-	Active	NO
15	U27100WB2009PTC138217	MAHANADI DECORATIVE SHEETS PRIVATE LIMITED	Director	3/9/2009	3/9/2009	-	Active	NO
16	U52190WB1994PTC062081	WELLMAN SALES AGENCY PRIVATE LIMITED	Director	30/10/2009	30/10/2009	-	Active	NO
17	U51109WB1995PTC067905	CAROL SYNTEX PRIVATE LIMITED	Director	30/10/2009	30/10/2009	-	Active	NO
18	U51109WB1995PTC075883	ANUDEEP CONSULTANTS PRIVATE LIMITED	Director	30/10/2009	30/10/2009	-	Active	NO
19	U51109WB1995PTC068590	CYNOSURE TRACON PRIVATE LIMITED	Director	30/10/2009	30/10/2009	-	Active	NO
20	U27101WB2002PTC095499	BRG IRON AND STEEL COMPANY. PRIVATE LIMITED	Managing director	30/09/2010	6/2/2010	-	Active	NO
21	U27100WB2009PTC138222	SUNCITY STRIPS AND TUBES PRIVATE LIMITED	Director	30/09/2010	1/4/2010	-	Active	NO
22	U51109WB1996PTC078066	ALLWORTH MERCHANDISE PRIVATE LIMITED	Director	30/09/2010	6/4/2010	-	Active	NO
23	U51909WB1996PTC078600	SUNRISE MERCHANDISE PRIVATE LIMITED	Director	30/09/2010	6/4/2010	-	Active	NO
24	U51109WB1994PTC063491	MODSNA TIE UP PRIVATE LIMITED	Director	30/09/2010	12/4/2010	-	Active	NO
25	U52100WB2010PTC151212	BRG INTERNATIONAL PRIVATE LIMITED	Managing director	30/07/2010	13/07/2010	-	Active	NO
26	U74999WB2011PTC158153	INTEGERATED ENGINEERING SOLUTION PRIVATE LIMITED	Director	28/01/2011	28/01/2011	-	Active	NO

Name :

Mr. Vijay Kumar Goyal

Designation :

Director

Address :

23, Raja Santosh Road, Flat No. 1, Alipore, Kolkata-700027, West Bengal, India

Date of Birth/Age :

14.05.1953

Date of Appointment :

06.02.2010

Din No.:

00324981

Name :

Mr. Jai Kumar Goyal

Designation :

Director

Address :

1, Ballygunj Park Road, 6C Bally High, Ballygunge, Kolkata-700019, West Bengal, India

Date of Birth/Age :

08.05.1955

Date of Appointment :

12.12.2002

Din No.:

00324847

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1980PTC010946	JAY GUM CHEMICALS INDIA PRIVATE LIMITED	Director	11/5/2000	11/5/2000	-	Active	NO
2	U27101WB2002PTC095499	BRG IRON AND STEEL COMPANY. PRIVATE LIMITED	Director	12/12/2002	12/12/2002	-	Active	NO
3	U51109WB1996PTC078066	ALLWORTH MERCHANDISE PRIVATE LIMITED	Director	24/02/2003	24/02/2003	-	Active	NO
4	U51909WB1996PTC078600	SUNRISE MERCHANDISE PRIVATE LIMITED	Director	24/02/2003	24/02/2003	-	Active	NO
5	U27109WB2003PTC095735	BRG STEEL PRIVATE LIMITED	Director	2/6/2003	2/6/2003	-	Dormant	NO
6	U74140WB1993PTC057394	BHUVEE PROFILES AND STAINLESS PRIVATE LIMITED	Director	1/2/2011	1/2/2011	-	Active	NO
7	U27100WB2007PTC120297	INTEGERATED EQUIPMENTS AND INFRASERVICES PRIVATE LIMITED	Director	1/2/2011	1/2/2011	-	Active	NO
8	U51109WB1995PTC068654	RABIRUN VINIMAY PRIVATE LIMITED	Director	1/2/2011	1/2/2011	-	Active	NO

Name :

Mr. Himanshu Goyal

Designation :

Director

Address :

DL-18, Sita Kunj, Salt Lake City, Kolkata-700091, West Bengal, India

Date of Birth/Age :

24.02.1975

Date of Appointment :

12.12.2002

Din No.:

00276571

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1980PTC010946	JAY GUM CHEMICALS INDIA PRIVATE LIMITED	Director	15/11/1994	15/11/1994	-	Active	NO
2	U27109WB2000PLC091371	G S C CASTOFIRM LIMITED	Director	15/03/2000	15/03/2000	10/3/2009	Active	NO
3	U27101WB2002PTC095499	BRG IRON AND STEEL COMPANY. PRIVATE LIMITED	Director	12/12/2002	12/12/2002	-	Active	NO
4	U27109WB2003PTC095735	BRG STEEL PRIVATE LIMITED	Director	31/01/2003	31/01/2003	-	Dormant	NO
5	U27106WB2003PTC095753	BRG METAL AND POWER PRIVATE LIMITED.	Director	4/2/2003	4/2/2003	-	Active	NO
6	U27320WB2002PTC095111	JAI HANUMANTA STEEL PRIVATE LIMITED	Director	25/07/2003	25/07/2003	-	Active	NO
7	U27109WB1995PLC071548	SHYAM FERRO ALLOYS LIMITED.	Director	25/07/2004	25/07/2004	-	Active	NO
8	U51109WB1994PTC063491	MODSNA TIE UP PRIVATE LIMITED	Director	30/09/2010	15/01/2010	-	Active	NO
9	U52390WB2010PTC151210	BRG INDUSTRIES PRIVATE LIMITED	Director	12/7/2010	12/7/2010	-	Active	NO
10	U52100WB2010PTC151212	BRG INTERNATIONAL PRIVATE LIMITED	Director	12/7/2010	12/7/2010	-	Active	NO
11	U74140WB1993PTC057394	BHUVEE PROFILES AND STAINLESS PRIVATE LIMITED	Director	1/2/2011	1/2/2011	-	Active	NO
12	U27100WB2007PTC120297	INTEGERATED EQUIPMENTS AND INFRASERVICES PRIVATE LIMITED	Director	1/2/2011	1/2/2011	-	Active	NO
13	U51109WB1995PTC068654	RABIRUN VINIMAY PRIVATE LIMITED	Director	1/2/2011	1/2/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Monoj Kumar Singh
Designation :	Secretary
Address :	12A, Saheb Bagan, Liluah, Howrah-711203, West Bengal, India
Date of Birth/Age :	29.11.1975
Date of Appointment :	28.08.2007
Pan No.:	BDDPS2514N
Name :	Mr. Ashish
Designation :	Finance Officer

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Anjani Kumar Goyal	8544210
Vijay Kumar Goyal	522500
Jai Kumar Goyal	585000
Himanshu Goyal	1568750
Allworth Merchandise Private Limited, India	1861428
Babu Ram Goyal	91250
Babu Ram Goyal (Karta)	30750
Evika Vincom Private Limited, India	33470850
Ledo Vyapaar Private Limited, India	28424214
Modsna Tie-Up Private Limited, India	28516450
Pafco Laboratories Limited, India	36034187
RCD Trading Private Limited	8442500
Sita Goyal	68000
Sunrise Merchandise Private Limited, India	2620000
Sandeep Goyal	10575574
Ravlon Commodities Private Limited, India	22043500
Ashdil Trading Company Private Limited, India	15378914
Advin Fiscal Services Private Limited, India	21230800
Cynosure Tracon Private Limited, India	5425000
Anudeep Consultants Private Limited, India	20136598
TOTAL	245570475

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	82.07
Directors or relatives of directors	8.95
Other top fifty shareholders	8.98
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Sponge Iron, Ferro Manganese, Silica Manganese and Stainless Steel Slabs.
Exports :
Products :	Finished Goods
Countries :	All over the world
Imports :
Products :	Raw Material
Countries :	All over the world
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

2000 [Approximately]

Bankers :

• UCO Bank (Lead Bank), Flagship Corporate Branch, 3, N. S. Road, Kolkata - 700001, West Bengal, India
• Indian Bank (Lead Bank), Strand Road Branch, 3A, Hare Street, Kolkata - 700001, West Bengal, India
• Syndicate Bank, Barabazar Branch, 132/1, Mahatma Gandhi Road, Kolkata - 700007, West Bengal, India
• Tamilnad Mercantile Bank Limited, 58 D, N.S. Road, 2nd Floor, Kolkata - 700007, West Bengal, India
• Central Bank of India, Corporate Finance Branch, Kolkata, 33, Netaji Subhas Road, Kolkata, West Bengal - 700001, India
• Dena Bank, Brabourne Road Branch, 16A, Brabourne Road, Kolkata - 700001, West Bengal, India
• State Bank of Bikaner and Jaipur, Park Street Branch, 20B, Park Street, Kolkata - 700016, West Bengal, India

Facilities :

SECURED LOAN

Particulars	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Rupee term loans from banks	2615.364	3817.949
Other loans and advances	55.889	96.983
Short Term Borrowings
Working capital loans from banks	6023.766	4687.684
TOTAL	8695.019	8602.616

Banking Relations :	--
Auditors :
Name :	S. Poddar and Company Chartered Accountants
Address :	Todi Chambr, 2, Lalbazar Street, 2^nd Floor, Kolkata-700001, West Bengal, India
PAN No:	AATFS2603N
Other Related Parties :	Integerated Engineering Solution Private Limited [U74999WB2011PTC158153]

CAPITAL STRUCTURE

After 30.09.2013

Authorised Capital : Rs. 3150.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 3142.238 Millions

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
260000000	Equity Shares	Rs.10/- each	Rs.2600.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
245570475	Equity Shares	Rs.10/- each	Rs.2455.705 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	2455.705	2455.705	740.493
(b) Reserves & Surplus	4182.921	4221.709	3585.350
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	1010.000	719.200	2099.372
Total Shareholders’ Funds (1) + (2)	7648.626	7396.614	6425.215
(3) Non-Current Liabilities
(a) Long-term borrowings	2671.253	3914.932	5186.164
(b) Deferred tax liabilities (Net)	355.968	270.596	167.394
(c) Other long term liabilities	1478.083	1233.930	59.681
(d) Long-term provisions	10.231	7.371	6.906
Total Non-current Liabilities (3)	4515.535	5426.829	5420.145
(4) Current Liabilities
(a) Short term borrowings	6023.766	4716.184	2532.773
(b) Trade payables	6331.937	5613.722	3557.453
(c) Other current liabilities	2912.238	2044.944	1905.649
(d) Short-term provisions	79.401	69.366	93.298
Total Current Liabilities (4)	15347.342	12444.216	8089.173
TOTAL	27511.503	25267.659	19934.533
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10776.527	10094.297	4089.444
(ii) Intangible Assets	94.520	141.187	186.792
(iii) Capital work-in-progress	237.235	655.132	6391.108
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.978	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	309.136	309.360	1037.780
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	11419.396	11199.976	11705.124
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	11611.734	9359.934	4374.599
(c) Trade receivables	1928.038	2139.389	1800.255
(d) Cash and cash equivalents	927.860	1424.330	566.659
(e) Short-term loans and advances	1527.906	1084.290	1487.896
(f) Other current assets	96.569	59.740	0.000
Total Current Assets	16092.107	14067.683	8229.409
TOTAL	27511.503	25267.659	19934.533

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	24732.467	24952.145	19359.945
		Other Income	77.861	44.940	52.507
		TOTAL	24810.328	24997.085	19412.452
Less	EXPENSES
		TOTAL	24763.737	24633.355	19093.042
	PROFIT / (LOSS) BEFORE TAX		46.591	363.730	319.410
Less	TAX		85.379	111.531	96.933
	PROFIT / (LOSS) AFTER TAX		(38.788)	252.199	222.477
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	NA	403.440	121.330
	IMPORTS
		Raw Materials	NA	115.176	831.748
		Capital Goods	NA	229.276	5945.743
	TOTAL IMPORTS		NA	344.452	6777.491
	Earnings / (Loss) Per Share (Rs.)		(0.15)	1.03	--

Particulars	31.03.2014
Sales Turnover (Approximately)	12000.000
	(Unaudited)

The above information has been parted by Mr. Ashish ( Finance Officer).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(0.16)	1.00	1.15
Net Profit Margin (PBT/Sales)	(%)	0.19	1.45	1.65
Return on Total Assets (PBT/Total Assets}	(%)	0.17	1.47	2.35
Return on Investment (ROI) (PBT/Networth)		0.01	0.05	0.05
Debt Equity Ratio (Total Debt/Networth)		1.14	1.17	1.20
Current Ratio (Current Asset/Current Liability)		1.05	1.13	1.02

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	740.493	2455.705	2455.705
Reserves & Surplus	3585.350	4221.709	4182.921
Share Application money pending allotment	2099.372	719.200	1010.000
Net worth	6425.215	7396.614	7648.626
long-term borrowings	5186.164	3914.932	2671.253
Short term borrowings	2532.773	4716.184	6023.766
Total borrowings	7718.937	8631.116	8695.019
Debt/Equity ratio	1.201	1.167	1.137

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	19359.945	24952.145	24732.467
		28.885	(0.880)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	19359.945	24952.145	24732.467
Profit	222.477	252.199	(38.788)
	1.15%	1.01%	(0.16%)

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

NOTE:

The registered office of the company has been shifted from 41 Shakesdeare Sarani, Duck Back House, Suite No. 1C, Kolkata-700017, West Bengal, India to the present address w.e.f. 28.01.2011.

OPERATION:

During the year, performance of the Company was encouraging. Net revenue from operation posted amounted to Rs.24732.467 Millions (previous year Rs.24952.145 Millions) and net Profit slightly decreased by Rs.290.987 Millions.

UNSECURED LOAN

Particulars	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Short Term Borrowings
Term loans from others	0.000	28.500
TOTAL	0.000	28.500

LATIGATION DETAILS

CALCUTTA HIGH COURT

CASE STATUS INFORMATION SYSTEM

CASE STATUS:	PENDING
STATUS OF COMPANY PETITIONS (CP) 598 OF 2014
RE NOVATECH PROJECTS (INDIA) PRIVATE LIMITED VS. M/S BRG IRON AND STEEL COMPANY PRIVATE LIMITED
PET’S ADV.:	DEBASISH SUR
RES’S ADV.:	--
COURT NO.:	23
	TUESDAY, AUGUST 19, 2014
CATEGORY:	NO CATEGORY MENTIONED

CONNECTED APPLICATION (S)	CONNECTED MATTER (S)
NO CONNECTED APPLICATIONS	NO CONNECTED CASES

CASE UPDATED ON: THURSDAY, AUGUST 14, 2014

INDEX OF CHARGES:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10478307	29/12/2013	60,000,000.00	INDIAN BANK	STRAND ROAD BRANCH, 3A,HARE STREET, KOLKATA - 700001, WEST  BENGAL, INDIA	B96687348
2	10426358	28/03/2013 *	3,550,000,000.00	UCO BANK (LEAD BANK)	FLAGSHIP CORPORATE BRANCH, 3, N. S. ROAD, KOLKATA - 700001, WEST BENGAL, INDIA	B75728246
3	10416382	29/05/2013 *	2,000,000,000.00	INDIAN BANK (LEAD BANK)	STRAND ROAD BRANCH, 3A, HARE STREET, KOLKATA - 700001, WEST BENGAL, INDIA	B78458056
4	10391546	15/11/2012	500,000,000.00	SYNDICATE BANK	BARABAZAR BRANCH, 132/1, MAHATMA GANDHI ROAD, KOLKATA - 700007, WEST BENGAL, INDIA	B63957492
5	10379889	21/09/2012	1,340,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	58D, N.S. ROAD, 2ND FLOOR,, KOLKATA -  700007, WEST BENGAL, INDIA	B59442541
6	10371799	23/07/2012	1,000,000,000.00	CENTRAL BANK OF INDIA	CORPORATE FINANCE BRANCH, KOLKATA, 33, NETAJI SUB  HAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA	B56114507
7	10322978	12/12/2011	1,455,400,000.00	DENA BANK	BRABOURNE ROAD BRANCH, 16A, BRABOURNE ROAD, KOLKATA - 700001, WEST BENGAL, INDIA	B27812486
8	10331928	08/12/2011	28,500,000.00	L & T FINANCE LIMITED	L&T HOUSE, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA , INDIA	B30600498
9	10308916	03/09/2011	2,200,000,000.00	STATE BANK OF BIKANER AND JAIPUR	PARK STREET BRANCH, 20B, PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA	B21991146
10	10270246	11/02/2011	250,000,000.00	STATE BANK OF BIKANER AND JAIPUR	PARK STREET BRANCH, 20B, PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA	B07630627

* Date of charge modification

FIXED ASSETS:

• Goodwill
• Land Freehold
• Building Factory
• Plant and Machinery
• Vehicles
• Furniture and Fixtures
• Office Equipments
• Computer

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. 61.35
UK Pound	1	Rs. 98.93
Euro	1	Rs. 77.92

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KRN
Report Prepared by :	ASH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.