MIRA INFORM REPORT

Report No. :	351873
Report Date :	01.12.2015

IDENTIFICATION DETAILS

Name :	SKS ISPAT AND POWER LIMITED (w.e.f. 29.12.2006)
Formerly Known As :	SKS ISPAT LIMITED (w.e.f. 11.01.2005) SKS ISPAT PRIVATE LIMITED
Registered Office :	501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra
Tel. No.:	91-22-30807063 / 30807000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.04.2000
Com. Reg. No.:	11-125893
Capital Investment / Paid-up Capital :	Rs.545.268 Million
CIN No.: [Company Identification No.]	U27100MH2000PLC125893
IEC No.:	0300014619
TAN No.: [Tax Deduction & Collection Account No.]	MUMS28171D
PAN No.: [Permanent Account No.]	AAECS3299N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of trading and manufacturing of Sponge Iron, Billets, Rolled Products, Ferro alloys and generation of Power.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 12309000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is a subsidiary of “Citywings Agencies Private Limited”. It is engaged in the business of manufacturing of sponge iron, billets, rolled products, ferro alloys. It is also engaged in the power generation business. For the financial year ended 2014, the company possesses moderate operational performance and it is has incurred huge losses from its operational activities during the year under a review. Rating remain constrained on account of company’s moderate operating efficiencies marked by its below average financial profile marked along with deteriorating net worth base and moderate liquidity position. Rating also takes into consideration susceptibility to fluctuation in steel price as well as forex movement imparting volatility to profitability and intense competition and cyclical nature of the sector. However, rating weakness is partially offset by strong financial and managerial support that company receives from its parent entity. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 31-03-2015.

INFORMATION DECLINE

Management non-cooperative (91-22-30807000)

LOCATIONS

Registered Office / Corporate Office :	501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-30807063 / 30807000
Fax No.:	91-22-30807070 / 80
E-Mail :	corporateoffice@sksispat.com poravina@sksispat.com
Website :	http://www.sksispat.com
Location :	Owned
Factory 1 :	Phase-II, Industrial Growth Centre, Village Siltara, 18^th Mile Stone, Bilaspur –Raipur Road, Raipur - 493111, Chattisgarh, India
Tel. No.:	91-7721-264380
Fax No.:	91-7721-264378 / 77
E-Mail :	works@sksispat.com
Branch Office :	Located at Chhattisgrah Gujarat New Delhi Jharkhand

DIRECTORS

As on 31.03.2015

Name :

Mr. Anil Mahabir Gupta

Designation :

Managing Director

Address :

4^th Floor, Nirmal Pranbhu, Road No.7, J.V.P.D. Scheme, Vile Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

23.11.1968

Qualification :

B. Com

Date of Appointment :

01.02.2013

PAN No.:

ADKPG6798G

DIN No.:

00046213

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	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Managing director	01/02/2013	17/04/2000	-	Active	NO
2	U63010WB1994PTC066953	Radha Krishna Roadways Private Limited	Managing director	12/04/2004	12/04/2004	01/04/2008	Active	NO
3	U27109WB2005PTC103275	INDO EMIRATES BUILDING SOLUTIONS PRIVATE LIMITED	Director	29/09/2010	15/02/2008	-	Active	NO
4	U45202MH2007PTC173666	INDO EMIRATES BUILDING SYSTEMS PRIVATE LIMITED	Additional director	15/02/2008	15/02/2008	03/10/2008	Strike off	NO
5	U40102MH2008PLC179495	SKS POWER GENERATION LIMITED	Director	27/02/2008	27/02/2008	-	Strike off	NO
6	U40103MH2008PLC180231	SKS POWER GENERATION (CHHATTISGARH) LIMITED	Whole-time director	01/10/2015	18/03/2008	-	Active	NO
7	U26940MH2008PLC180732	SKS CEMENTS LIMITED	Director	02/04/2008	02/04/2008	-	Active	NO
8	U40101MH2008PLC180742	SKS POWER TRADING LIMITED	Director	02/04/2008	02/04/2008	-	Strike off	NO
9	U40101MH2008PLC180730	SKS POWER GENERATION (JHARKHAND) LIMITED	Director	02/04/2008	02/04/2008	-	Strike off	NO
10	U40101MH2008PLC180729	SKS POWER GENERATION (MADHYA PRADESH) LIMITED	Director	02/04/2008	02/04/2008	-	Active	NO
11	U10100CT2008PTC020663	FATEHPUR COAL MINING COMPANY PRIVATE LIMITED	Nominee director	19/05/2008	19/05/2008	31/03/2011	Active	NO
12	U27101CT1995PTC009316	SHREE KRISHNA STRUCTURES PVT LTD	Director	28/09/2010	20/01/2010	-	Active	NO
13	U27109CT2004PTC016489	GUPTA STEEL CORPORATION PRIVATE LIMITED	Director	28/09/2010	20/01/2010	-	Active	NO
14	U27109WB2005PTC103269	PADMA ISPAT PRIVATE LIMITED	Director	29/09/2010	15/03/2010	-	Active	NO
15	U27109WB2005PTC103270	LAMBODAR ISPAT PRIVATE LIMITED	Director	29/09/2010	15/03/2010	-	Active	NO
16	U27109WB2005PTC103280	VIGHNESH STEELS PRIVATE LIMITED	Director	29/09/2010	15/03/2010	-	Active	NO
17	U27109WB2005PTC103281	SKS MINERALS & MINING COMPANY PRIVATE LIMITED	Director	29/09/2010	15/03/2010	-	Active	NO
18	U40109MH2011PLC211947	SKS POWER HOLDINGS LIMITED	Director	06/01/2011	06/01/2011	-	Active	NO
19	U51109WB2006PTC108331	CITYWINGS AGENCIES PVT LTD	Director	01/03/2011	01/03/2011	-	Active	NO
20	U74999WB2011PTC166380	GLOBAL POLYFILMS PRIVATE LIMITED	Director	12/08/2011	12/08/2011	22/03/2013	Active	NO
21	U10100CT2015PTC001637	ARS COAL PRIVATE LIMITED	Director	28/01/2015	28/01/2015	28/05/2015	Active	NO

Name :

Mr. Deepak Gupta

Designation :

Managing Director

Address :

H No. B/1, College Ward, Taluka Raipur, District Raipur, Chhattisgarh, India

Date of Birth/Age :

09.01.1974

Qualification :

B. Com

Date of Appointment :

01.04.2013

PAN No.:

AAGPG0744H

DIN No.:

00645211

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	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Managing director	01/04/2013	01/08/2004	-	Active	NO
2	U45200CT2007PTC020335	SHREE KRISHNA INFRATECH PRIVATE LIMITED	Director	02/08/2007	02/08/2007	09/04/2008	Active	NO
3	U45202MH2007PTC173666	INDO EMIRATES BUILDING SYSTEMS PRIVATE LIMITED	Additional director	28/09/2007	28/09/2007	03/10/2008	Strike off	NO
4	U40103MH2008PLC180231	SKS POWER GENERATION (CHHATTISGARH) LIMITED	Director	30/09/2009	16/04/2008	30/07/2014	Active	NO
5	U10100CT2008PTC020663	FATEHPUR COAL MINING COMPANY PRIVATE LIMITED	Nominee director	19/05/2008	19/05/2008	-	Active	NO
6	U26940MH2008PLC180732	SKS CEMENTS LIMITED	Director	30/09/2009	11/09/2008	-	Active	NO
7	U40101MH2008PLC180730	SKS POWER GENERATION (JHARKHAND) LIMITED	Director	30/09/2009	11/09/2008	-	Strike off	NO
8	U40101MH2008PLC180729	SKS POWER GENERATION (MADHYA PRADESH) LIMITED	Director	30/09/2009	11/09/2008	-	Active	NO
9	U40102MH2008PLC179495	SKS POWER GENERATION LIMITED	Additional director	15/03/2010	15/03/2010	-	Strike off	NO
10	U40101MH2008PLC180742	SKS POWER TRADING LIMITED	Director	30/09/2010	15/03/2010	-	Strike off	NO
11	U40109MH2011PLC211947	SKS POWER HOLDINGS LIMITED	Director	06/01/2011	06/01/2011	-	Active	NO

Name :

Mr. Pankaj Kumar Jha

Designation :

Whole-time director

Address :

Flat No. 17/301, Ashoka Ratan, Vip Estate, Vidhan Sabha Road, Shankar Nagar, Near Ashoka Ratan, Raipur - 492001, Chhattisgarh, India

Date of Birth/Age :

02.01.1962

Date of Appointment :

05.03.2013

DIN No.:

06518501

Name :

Mr. SatpalSingh Kasturilal Arora

Designation :

Director

Address :

403, Gangadham Apartment, 148, Giripet Nagpur – 440010, Maharashtra, India

Date of Birth/Age :

08.09.1968

Date of Appointment :

30.09.2014

DIN No.:

03391190

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	U13203MH2011PTC216859	KRISHAN MINERALS AND LOGISTIC PRIVATE LIMITED	Director	29/04/2011	29/04/2011	-	Active	NO
2	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Director	30/09/2014	28/05/2013	-	Active	NO

Name :

Mr. Devidas Kashinath Kambale

Designation :

Director

Address :

D 2603, Wadala Height CHS, Sangam Nagar, Near Dosti Acres Complex, Wadala, Mumbai - 400037, Maharashtra, India

Date of Appointment :

30.09.2014

DIN No.:

00020656

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	L40300MH1977PLC019594	LLOYDS METALS AND ENERGY LIMITED	Director	30/07/2014	31/03/2003	-	Active	NO
2	L15421TG1995PLC020720	GAYATRI SUGARS LIMITED	Nominee director	17/08/2005	17/08/2005	18/03/2009	Active	NO
3	L18209TG1985PLC005581	SANGHI INDUSTRIES LIMITED	Director	17/12/2011	12/08/2011	-	Active	NO
4	U27100MH2000PLC125893	SKS ISPAT AND POWER LIMITED	Director	30/09/2014	29/10/2013	-	Active	NO

KEY EXECUTIVES

Name :	Anand Salunkhe
Designation :	Secretary
Address :	Kabir Chs No. 3 Rm No.5, Devlapada,, Near Broadway Cinema, Tata Power, Borivali (East), Mumbai-400066, Maharashtra, India
Date of Appointment :	11.09.2015
PAN No.:	FAOPS7348Q
Name :	Mr. Pawan Kumar
Designation :	AGM – Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Anil Gupta	5086000
Deepak Gupta	14100
Indo Emirates Building Solutions Private Limited, India	1550000
Gupta Steel Corporation Private Limited, India	1153846
Lambodar Ispat Private Limited, India	1370000
SKS Minerals and Mining Company Private Limited, India	1351400
Sangeeta Gupta	12000
Shares in Demat form	41417622
Total	51954968

SHARES IN DEMAT FORM

List of Demat Shareholders	No. of Shares
Anil Gupta	4100
Citywings Agencies Private Limited, India	6611850
Deepak Gupta	4100
Gupta Steel Corporation Private Limited, India	2779900
Padma Ispat Private Limited, India	2307100
Sangeeta Gupta	4100
Shree Krishna Structure Private Limited, India	26964472
Vighnesh Steels Private Limited, India	2742000
Total	41417622

As on 13.02.2014

Name of Allottees	No. of Shares
Anil Gupta – Business	76000
Anil Gupta (HUF) through Karta, Mr. Anil Gupta – Business	79000
Deepak Gupta - HUF	107000
Citywings Agencies Private Limited, India	768000
Gupta Steel Corporation Private Limited, India	459112
Padma Ispat Private Limited, India	1072750
Shree Krishna Structure Private Limited, India	10000
Total	2571862

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	90.14
Directors or relatives of Directors	9.86
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of trading and manufacturing of Sponge Iron, Billets, Rolled Products, Ferro alloys and generation of Power.

Products :

Item Code No. (ITC Code)	Product Description
72251910	Rolled Products
27160000	Electrical Energy

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name	State Bank of India
Branch	Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur - 492001, Chhattisgarh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India
• Union Bank of India, S T Road, Branch Apeejay -Surendra Building, Aroda Street, S T Road, Mumbai - 400009, Maharashtra, India
• Bank of India, 92-93, Free Press House, 9th Floor, Free Press Journal Marg, 215, Nariman Point, Mumbai - 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Rupee term loans from banks	6529.696	2759.632
Loans taken for vehicles	37.066	16.565
SHORT TERM BORROWINGS
Working capital loans from banks	1787.536	2698.972
Total	8354.298	5475.169

Auditors :
Name 1 :	S B Wakharkhar and Company Chartered Accountants
Address :	11, Shreyas, Veera Desai Road, Andheri (West), Mumbai – 400058, Maharashtra, India
PAN No.:	AAAPW6993N
Memberships :	--
Collaborators :	--
Associate :	Shree Krishna Structures Private Limited Gupta Steel Corporation Private Limited Padma Ispat Private Limited
Subsidiary company :	Shree Krishna Steels Global Pte. Limited SKS Cements Limited SKS Powe R Generation (Chhattisgarh) Limited SKS Powe R Generation (Jharkhand) Limited SKS Powe R Generation (Madhya Pradesh) Limited SKS Power Holdings Limited SKS Power Trading Limited Fatehpur Coal Mining Company Private Limited
Joint venture :	Surya Infraventure Private Limited
Ultimate Holding company :	Citywings Agencies Private Limited
Others :	Gupta Steel Corporation (Sole Proprietorship)

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
54600000	Equity Shares	Rs.10/- each	Rs.546.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
54526830	Equity Shares	Rs.10/- each	Rs.545.268 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	545.268	519.550	465.703
(b) Reserves & Surplus	3763.109	4744.240	5607.823
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	150.000
Total Shareholders’ Funds (1) + (2)	4308.377	5263.790	6223.526
(3) Non-Current Liabilities
(a) long-term borrowings	6566.762	2776.197	3641.880
(b) Deferred tax liabilities (Net)	746.344	851.576	821.106
(c) Other long term liabilities	22.766	21.332	20.549
(d) long-term provisions	18.356	15.842	16.671
Total Non-current Liabilities (3)	7354.228	3664.947	4500.206
(4) Current Liabilities
(a) Short term borrowings	1787.536	2698.972	2415.663
(b) Trade payables	771.011	1693.684	1665.676
(c) Other current liabilities	715.774	2436.288	1581.657
(d) Short-term provisions	1.371	0.471	1.497
Total Current Liabilities (4)	3275.692	6829.415	5664.493
TOTAL	14938.297	15758.152	16388.225
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7667.886	6667.437	7055.459
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	30.736	1432.152	1149.955
(iv) Intangible assets under development	504.678	512.090	423.871
(b) Non-current Investments	1605.366	1615.364	1609.968
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	16.109	15.408	15.828
Total Non-Current Assets	9824.775	10242.451	10255.081
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	2113.234	2604.329	3233.212
(c) Trade receivables	1607.929	1664.078	1576.246
(d) Cash and cash equivalents	322.521	280.262	389.916
(e) Short-term loans and advances	1058.075	959.672	930.158
(f) Other current assets	11.763	7.360	3.612
Total Current Assets	5113.522	5515.701	6133.144
TOTAL	14938.297	15758.152	16388.225

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	7915.572	13068.982	13880.070
		Other Income	49.665	94.241	58.968
		TOTAL	7965.237	13163.223	13939.038
Less	EXPENSES
		Cost of Materials Consumed	5594.660	5079.567	5063.228
		Purchases of Stock-in-Trade	738.997	6516.288	5729.351
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	410.672	541.786	206.009
		Employees benefits expense	224.382	143.066	135.625
		Other expenses	919.740	960.557	1093.178
		Exceptional items	0.000	0.000	251.776
		TOTAL	7888.451	13241.264	12479.167
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		76.786	(78.041)	1459.871
Less	FINANCIAL EXPENSES		937.920	975.122	986.666
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(861.134)	(1053.163)	473.205
Less/ Add	DEPRECIATION/ AMORTISATION		456.698	426.103	426.948
	PROFIT/ (LOSS) BEFORE TAX		(1317.832)	(1479.266)	46.257
Less	TAX		(105.232)	30.470	30.926
	PROFIT/ (LOSS) AFTER TAX		(1212.600)	(1509.736)	15.331
	Earnings / (Loss) Per Share (Rs.)		(23.19)	(31.26)	0.33

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	184.025	1655.874	1121.189
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operation	(611.645)	838.286	1670.190

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	(15.32)	(11.55)	0.11
Operating Profit Margin (PBDIT/ Sales)	(%)	0.97	(0.60)	10.52
Return on Total Assets (PBT/Total Assets}	(%)	(10.30)	(12.13)	0.35
Return on Investment (ROI) (PBT/Networth)		(0.31)	(0.28)	0.01
Debt Equity Ratio (Total Debt/Networth)		1.98	1.35	1.15
Current Ratio (Current Asset/Current Liability)		1.56	0.81	1.08

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	465.703	519.550	545.268
Reserves & Surplus	5607.823	4744.240	3763.109
Net worth	6073.526	5263.790	4308.377
long-term borrowings	3641.880	2776.197	6566.762
Short term borrowings	2415.663	2698.972	1787.536
Current maturities of long-term debts	1121.189	1655.874	184.025
Total borrowings	7178.732	7131.043	8538.323
Debt/Equity ratio	1.153	1.355	1.982

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	13880.070	13068.982	7915.572
		(5.844)	(39.432)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from operations	13880.070	13068.982	7915.572
Profit	15.331	(1509.736)	(1212.600)
	0.11%	(11.55%)	(15.32%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of establishment	Yes
2]	Constitution of the entity Incorporation details	Yes
3]	Locality of the entity	Yes
4]	Premises details	No
5]	Buyer visit details	--
6]	Contact numbers	Yes
7]	Name of the person contacted	No
8]	Designation of contact person	No
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	No
12]	Voter Id Card No. of Proprietor / Partners	No
13]	Type of business	Yes
14]	Line of Business	Yes
15]	Export/import details (if applicable)	No
16]	No. of employees	No
17]	Details of sister concerns	Yes
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	Yes
21]	Banking facility details	Yes
22]	Conduct of the banking account	--
23]	Financials, if provided	Yes
24]	Capital in the business	Yes
25]	Last accounts filed at ROC, if applicable	Yes
26]	Turnover of firm for last three years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	No
32]	Litigations that the firm/promoter involved in	Yes
33]	Market information	--
34]	Payments terms	No
35]	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS
Bench:- Bombay
Presentation Date:- 14/08/2014
Lodging No. :	S/673/2014	Failing Date:-	14/08/2014	Reg. No.:-		S/673/2014
Reg. Date:-	26/08/2014
Petitioner:-	STEEL AUTHORITY OF INDIA LIMITED	Respondent:-	SKS ISPAT AND POWER LIMITED 2 ORS
Petn.Adv:-	W S KANE AND COMPANY (I300)	Resp. Adv.:-	MULLA AND MULLA AND CRAIGIE BLUNT AND CAR
District:-	MUMBAI
Bench:-	DIVISION	Category:-	SUIT (TRADE MARK)
Status:-	Pre-Admission	Stage:-	FOR DIRECTION [ORIGINAL SIDE MATTERS]
Next Date:-	19/08/2015	Stage:-	--
Coram:-	PROVIONAL BOARD
Act. :	Trade and Trade Merchandise Marks Act		Under Section:		134

NOTE:

The registered address of the company has been shifted from 501/B, Elegant Business Park, MIDC Link Road, Near JB Nagar Off Andheri Kurla Road, Mumbai – 400059, Maharashtra, India to the present address w.e.f 06.05.2010

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10561811	30/03/2015	29,900,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA	C50226810
2	10489208	30/03/2015 *	11,067,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA	C49755317
3	10463133	30/10/2013	4,963,500,000.00	State Bank of India	Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	B90703877
4	10439501	28/06/2013	720,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80616857
5	10439502	28/06/2013	720,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80617376
6	10439505	28/06/2013	720,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80617855
7	10439500	12/06/2013	2,600,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80616394
8	10439497	11/06/2013	1,500,000.00	INDUSIND BANK LIMITED	2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA	B80615263
9	10426494	29/03/2013	6,559,058.00	RELIANCE CAPITAL LIMITED	"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA	B74931502
10	10400892	07/01/2013	960,000,000.00	State Bank of India	Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka, Raipur, Chhattisgarh - 492001, INDIA	B67031898

* Date of charge modification

GENERAL INFORMATION

The Company is a company incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of trading & manufacturing of Sponge Iron, Billets, Rolled Products, Ferro alloys and generation of Power.

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipment’s

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.66.75
UK Pound	1	Rs.100.67
Euro	1	Rs.70.87

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	KAR
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
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	4
--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		32

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.