MIRA INFORM REPORT

Report No. :	352488
Report Date :	05.12.2015

IDENTIFICATION DETAILS

Name :	BHATIA GLOBAL TRADING LIMITED (w.e.f.24.03.2010)
Formerly Known As :	BHATIA GLOBAL TRADING PRIVATE LIMITED (w.e.f. 04.03.2010) BHATIA COAL TRADING AND CONSIGNMENT PRIVATE LIMITED
Registered Office :	BCC House, 8/5, Manoramaganj, Navratan Bagh, Main Road, Indore – 452001, Madhya Pradesh
Tel. No.:	91-731-4200211
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.08.1991
Com. Reg. No.:	10-006626
Capital Investment / Paid-up Capital :	Rs.428.230 Million
CIN No.: [Company Identification No.]	U60200MP1991PLC006626
IEC No.:	1105007383
TAN No.: [Tax Deduction & Collection Account No.]	BPLB02964D
PAN No.: [Permanent Account No.]	AAACB6751C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is mainly engaged in business of Trading of all type of Coal, Stevedoring and Logistic services. (Registered Activity)
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is promoted by Bhatia Group of Indore, and is engaged in business of coal trading, whereby coal is imported from coal fields in Indonesia and sold to domestic companies. The company is also engaged in the providing logistic services. Rating takes into account severe liquidity crunch being confronted by the Company, which has been driving irregularities in debt servicing as reflected by numerous instances of letter of credit (LC) devolvement during past many months. In financial year 2015, the company reported an Operating Income of Rs. 13327.000 Million and net loss of Rs. 2854.000 Million against Rs. 22117.000 Million and Profit after Tax (PAT) of Rs. 245.000 Million reported in FY14. The already weak financial profile of the company has further deteriorated subsequent to loss of Rs. 2850.000 Million reported in FY15. This large loss was mainly driven by huge inventory shortage, sizeable bad debts, prior period expenses and loss on sale of investment in a subsidiary. While most of the aforementioned losses don’t pertain to FY15, however even after excluding these one-time expenses, the operating profitability remains negligible and insufficient to cover even the interest costs on borrowings for coal trading operations. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealings on safe and secured trade terms and conditions. Note: Partial financial information for the year 2015 taken from indirect source i.e. ICRA.

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	ICRA
Rating	Long term fund based : D
Rating Explanation	Lowest-credit-quality and very low prospects of recovery.
Date	13.04.2015

Rating Agency Name	ICRA
Rating	Short term Non fund based : D
Rating Explanation	Instruments with this rating are in default or expected to be in default on maturity.
Date	13.04.2015

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 PARTED BY

Name :	Mr. Naval Jain
Designation :	Assistant Vice President
Contact No.:	91-731-4200211

LOCATIONS

Registered Office / Corporate Office / Warehouse:	BCC House, 8/5, Manoramaganj, Navratan Bagh Main Road, Indore – 452001, Madhya Pradesh, India
Tel. No.:	91-731-4200211 / 4066101
Fax No.:	91-731-4066102
E-Mail :	cs@bhatiacoalindia.com roshitjain@bhatiacoalindia.com naval@bhatiacoalindia.com info@bhatiacoalindia.com
Website :	http://www.bhatiacoalindia.com
Location :	Owned [Commercial]
Head Office :	“BCC House”, Plot No. 4, 6th Avenue, Harrington Road, Chetpet, Chennai – 600031, Tamilnadu, India
Tel. No.:	91-44-45590050 / 51
Fax No.:	91-44-45590057 / 58
E-Mail :	chennai@bhatiacoalindia.com
Branch Office 1 :	Ambika Apartment 24 Wardhman Nagar, Nagpur – 440008, Maharashtra, India
Branch Office 2 :	403-404, Swastik House, Opposite Lake View Hotel, Piplod, Surat-395007, Gujarat, India

DIRECTORS

As on 31.03.2015

Name :

Mr. Surinder Singh Bhatia

Designation :

Managing Director

Address :

Plot No. 13 and 14, Aditya Nagar, Indore – 452001, Madhya Pradesh, India

Date of Birth/Age :

09.08.1963

Qualification :

M.Com

Date of Appointment :

01.09.2015

PAN No.:

ABHPB5246R

DIN No.:

00038741

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	L65922TN1993PLC101885	Hemang Resources Limited	Whole-time director	19/10/2009	08/07/1993	22/09/2014	Active	NO
2	U63090MH1995PLC248129	BCC CARGO LIMITED	Director	25/05/1995	25/05/1995	-	Active	NO
3	U10102MH1997PLC246824	BCC ENTERPRISES (INDIA) LIMITED	Director	28/04/1997	28/04/1997	30/04/2012	Active	NO
4	U70102MP1997PTC012118	BCC ESTATES PRIVATE LIMITED	Director	09/07/1997	09/07/1997	-	Active	NO
5	U23101MP1999PLC013713	ASIAN NATURAL RESOURCES (INDIA) LIMITED	Director	31/08/2012	01/01/2004	27/08/2014	Active	NO
6	U15540MP1966PTC001016	BHATIA SOFTWARE AND REALTORS PRIVATE LIMITED	Director	05/05/2004	05/05/2004	28/08/2014	Active	NO
7	U51101MH1997PLC246823	ISHHAR OVERSEAS LIMITED	Director	04/03/2005	04/03/2005	-	Active	NO
8	U40100TN2008PLC101598	Bhatia Coke and Energy Limited	Director	13/06/2008	13/06/2008	05/12/2014	Active	NO
9	U51102MP2008PLC020780	Bhatia Coal Washeries Limited	Director	13/06/2008	13/06/2008	06/07/2011	Active	NO
10	U74140MP1974PTC015187	RELIANCE SERVICES AND CONSULTANTS Private Limited	Director	30/09/2009	01/08/2009	-	Active	NO
11	U80300MP2009PLC022462	BHATIA PROFESSIONAL EDUCATION INSTITUTIONS (INDORE) LIMITED	Director	05/10/2009	05/10/2009	-	Active	NO
12	U45203MP2009PLC022492	BHATIA PORT And INFRASTRUCTURE LIMITED	Director	13/10/2009	13/10/2009	-	Active	NO
13	U10100MP2009PLC022493	BHATIA SONS (INDIA) LIMITED	Director	13/10/2009	13/10/2009	-	Active	NO
14	U10100MP2009PLC022514	BHATIA OSL WASHERIES And MINERALS LIMITED	Director	16/10/2009	16/10/2009	-	Active	NO
15	U70100MP2010PTC023650	GSB REAL ESTATES PRIVATE LIMITED	Director	28/05/2010	28/05/2010	-	Active	NO
16	U70101MP2010PTC023930	SSB LAND DEVELOPERS PRIVATE LIMITED	Director	16/07/2010	16/07/2010	-	Active	NO
17	U40100MP2010PLC024232	BHATIA ENERGY LIMITED	Director	01/09/2010	01/09/2010	-	Active	NO
18	U60200MP1991PLC006626	BHATIA GLOBAL TRADING LIMITED	Managing director	01/09/2015	30/06/2011	-	Active	NO
19	U92100MP2012PTC027986	BHATIA ENTERTAINMENT PRIVATE LIMITED	Director	15/03/2012	15/03/2012	-	Active	NO

Name :

Mr. Chitranjan Singh Kahlon

Designation :

Director

Address :

D-1/49, Rabindra Nagar, New Delhi – 110003, India

Date of Birth/Age :

22.02.1951

Date of Appointment :

24.09.2012

DIN No.:

02823501

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	U93000DL1901NPL000024	DELHI GYMKHANA CLUB LIMITED	Director	29/09/2012	26/09/2009	28/09/2013	Active	NO
2	U60200MP1991PLC006626	BHATIA GLOBAL TRADING LIMITED	Director	24/09/2012	11/08/2012	-	Active	NO
3	L65922TN1993PLC101885	Hemang Resources Limited	Director	12/07/2013	08/11/2012	-	Active	NO
4	U67190MH2012PLC238473	IL&FS AMC TRUSTEE LIMITED	Director	19/06/2014	04/12/2012	-	Active	NO
5	U63000HR2009PTC039889	INTERCEPT CONSULTANTS PRIVATE LIMITED	Director	01/06/2014	01/06/2014	-	Active	NO
6	U74999HR2013PTC051432	SHAOLIN TRUSTEESHIP PRIVATE LIMITED	Director	30/09/2015	30/09/2015	-	Active	NO

Name :

Mr. Lalkrishna Shivratan Thanvi

Designation :

Director

Address :

7 Ganeshkripa Appartment, Ichchanath, Surat – 395001, Gujarat, India

Date of Birth/Age :

01.01.1962

Qualification :

HSC

Date of Appointment :

23.09.2010

DIN No.:

00051283

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	U23101MP1999PLC013713	ASIAN NATURAL RESOURCES (INDIA) LIMITED	Director	01/01/2004	01/01/2004	08/03/2008	Active	NO
2	L65922TN1993PLC101885	Hemang Resources Limited	Director	05/09/2005	05/09/2005	08/11/2012	Active	NO
3	U60200MP1991PLC006626	BHATIA GLOBAL TRADING LIMITED	Director	23/09/2010	25/03/2010	-	Active	NO

Name :

Purva Lasurkar

Designation :

Additional director

Address :

46, Tilak Path, Indore - 452001, Madhya Pradesh, India

Date of Appointment :

03.12.2014

DIN No.:

06948771

KEY EXECUTIVES

Name :	Mr. Rachit Kumar Inani
Designation :	Secretary
Address :	84, Motibunglow Main Road, Dewas - 455001, Madhya Pradesh, India
Date of Appointment :	22.06.2015
PAN No.:	ABFPI3193Q
Name :	Mr. Suresh Kumar Gupta
Designation :	Chief Financial Officer
Address :	131-B,Parshwanath Nagar, Kesar Bagh Road, Indore-452001, Madhya Pradesh, India
Date of Appointment :	30.03.2015
PAN No.:	ABAPG1359F
Name :	Jaswinder Singh Bhatia
Designation :	Chief Executive Officer
Address :	374 Vishnupuri NX, Indore-452001, Madhya Pradesh, India
Date of Appointment :	30.03.2015
PAN No.:	AGBPB3351N
Name :	Mr. Naval Jain
Designation :	Assistant Vice President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 16.09.2014

Names of Shareholders	No. of Shares
Gurvinder Singh Bhatia	6374290
Veena Bhatia	4331510
Survinder Singh Bhatia	971754
Gurvinder Kaur Bhatia W/o Survinder Singh Bhatia	2000
S. S. Bhatia (HUF)	1500
Amnadeep Singh Bhatia	8182200
Ishipal Kaur Bhatia	100
G.S. Bhatia (HUF)	500
Amitoj Kaur Bhatia	100
Narinder Kaur Bhatia	4500
Ishhar Overseas Limited, India	750975
BCC Enterprises (India) Limited, India	200
BCC Estates Private Limited, India	200
BCC Cargo Limited, India	121159
Reliance Services and Consultants Private Limited, India	23491
Bhatia Industries and Infrastructure Limited, India	4500
Asian Natural Resources (India) Limited, India	62371
Bhatia Sons (India) Limited, India	21991457
Indu Charturvedi W/o Samarth Charuvedi	120
Girish Matlani S/o Shrikishan Matlani	120
Samarth Chaturvedi S/o Sharad Chand Chaurvedi	120
Chandani Devi Matlani W/o Girish Matlani	120
Total	42823287

AS ON 13.02.2015

Names of Allottees	No. of Shares
BCC Enterprises (India) Limited, India	975610
BCC Cargo Limited, India	1243902
Total	2219512

Equity Share Break up (Percentage of Total Equity)

As on 16.09.2014

Category	Percentage of Holding
Bodies corporate	53.60
Directors or relatives of Directors	46.38
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is mainly engaged in business of Trading of all type of Coal, Stevedoring and Logistic services. (Registered Activity)

Products :

Item Code No.	Product Description
27011990	Imported Coal and Indigenous Coal

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Products :

Coal

Countries :

• Indonesia
• South Africa

Terms :

Selling :

Cash, Credit

Purchasing :

Cash, Credit

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 :	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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

200 (Approximately)

Bankers :

Bank Name	State Bank of India
Branch	Commercial Branch, Indore, Madhya Pradesh, 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

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India

· Bank of Baroda, 13, Old Palasia, A.B. Road Branch, Indore - 452018, Madhya Pradesh, India

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	0.000	1.660
Short-term borrowings
Loans repayable on demand from banks (Cash Credits and Buyer's Line of Credit are secured by way of hypothecation of Stocks, Receivables and other Current Assets, present and future of the Company, ranking first charge on pari- passu under the Consortium Agreement and second charge ranking on parri -passu basis on the entire fixed Assets, present and future of the Company and personal guarantee of the promoter directors of the Company and their relatives. These facilities are also secured by corporate guarantees provided by the Group Companies. 2 The Buyer’s Line of Credit facilities are within the sanctioned limits and provided by ear - marking the limits of Foreign Letter of Credit.)	5209.170	4669.460
Total	5209.170	4671.120

Financial Institution :

SBICAP Trustee Company Limited 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India

Auditors :
Name :	R. S. Bansal and Company Chartered Accountants
Address :	"Uravshi" 1st Floor, 3 Jaora Compound, Indore – 452001, Madhya Pradesh, India
PAN N Income-tax PAN of auditor or auditor's firm :	AABFR4852J
Memberships :	--
Collaborators :	--
Holding Company :	Bhatia Sons (India) Limited
Subsidiary Companies and Step Subsidiaries :	Bhatia International Pte. Limited, Singapore Indore Corporation Limited, Marshall Island Fleetmart Shipping Company Limited, Cyprus PT Bhatia International, Indonesia Asian Energy DMCC, UAE Bhatia Surya Pte. Limited, Singapore Guru Corporation Limited, Marshall Island
Fellow Subsidiary Companies :	Bhatia Coke and Energy Limited Bhatia Coal Washeries Limited
Associate Company :	BCC Estates Private Limited
Joint Venture Company	Waves India Stevedores Private Limited
Enterprises over which key Management personnel or Relative of KMP are able to exercise Significant influence :	Asian Natural Resources (India) Limited BCC Cargo Limited BCC Enterprises (India) Limited Bhatia Energy Limited Bhatia Entertainment Private Limited Bhatia Industries and Infrastructure Limited Bhatia OSL Washeries and Minerals Limited Bhatia Port and Infrastructure Limited Bhatia Professional Education Institutions (Indore) Limited GSB Real Estates Private Limited IOF PTE Limited Ishhar Overseas Limited Relaince Services and Consultants Private Limited SSB Land Developers Private Limited

CAPITAL STRUCTURE

AFTER 16.09.2014

Authorised Capital : Rs.463.000 Million

Issued, Subscribed & Paid-up Capital : Rs.459.672 Million

AS ON: 16.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
44,300,000	Equity Shares	Rs.10/- each	Rs.443.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
42,823,287	Equity Shares	Rs.10/- each	Rs.428.233 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	428.230	417.680	379.770
(b) Reserves & Surplus	1608.830	1302.570	2057.430
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2037.060	1720.250	2437.200
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	1.660	11.670
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	2.470	3.420
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	4.130	15.090
(4) Current Liabilities
(a) Short term borrowings	5221.240	4728.560	4667.120
(b) Trade payables	5459.460	4704.270	4631.540
(c) Other current liabilities	561.190	304.140	357.620
(d) Short-term provisions	114.150	88.670	70.290
Total Current Liabilities (4)	11356.040	9825.640	9726.570
TOTAL	13393.100	11550.020	12178.860
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	255.380	273.930	255.540
(ii) Intangible Assets	3.550	3.620	1.480
(iii) Capital work-in-progress	0.560	1.490	33.860
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2022.710	1883.770	1849.230
(c) Deferred tax assets (net)	4.260	4.510	2.930
(d) Long-term Loan and Advances	80.790	9.970	17.560
(e) Other Non-current assets	30.320	32.260	47.750
Total Non-Current Assets	2397.570	2209.550	2208.350
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4326.510	3020.270	2979.990
(c) Trade receivables	5076.470	4766.820	4820.650
(d) Cash and cash equivalents	710.810	616.360	628.430
(e) Short-term loans and advances	833.330	777.290	1516.990
(f) Other current assets	48.410	159.730	24.450
Total Current Assets	10995.530	9340.470	9970.510
TOTAL	13393.100	11550.020	12178.860

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	22116.660	23419.120	24700.260
	Other Income	206.140	220.690	850.120
	TOTAL	22322.800	23639.810	25550.380
Less	EXPENSES
	Purchases of Stock-in-Trade	21401.550	22018.970	23681.880
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(944.330)	612.200	307.970
	Employees benefits expense	115.740	113.350	97.470
	Extraordinary Item	0.000	0.000	0.000
	Exceptional Items	0.000	(452.390)	0.000
	Other expenses	367.080	631.240	827.280
	TOTAL	20940.040	22923.370	24914.600
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	1382.760	716.440	635.780
Less	FINANCIAL EXPENSES	1052.390	765.140	571.310
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	330.370	(48.700)	64.470
Less/ Add	DEPRECIATION/ AMORTISATION	19.920	25.200	30.040
	PROFIT/ (LOSS) BEFORE TAX	310.450	(73.900)	34.430
Less	TAX	65.310	(0.730)	8.310
	PROFIT/ (LOSS) AFTER TAX	245.140	(73.170)	26.120
	EARNINGS IN FOREIGN CURRENCY	76.220	78.970	9.490
	Value of Import of Coal on C.I.F. basis	11995.220	15406.040	NA
	Earnings / (Loss) Per Share (Rs.)	5.86	(25.53)	0.69

Particulars	31.03.2015
Operating Income	13327.000
Profit/Loss for the year	(2854.000)

The information taken from indirect source i.e. ICRA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	1.660	6.150	8.460
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(506.750)	(742.850)	3017.890
Net cash flows from (used in) operating activities	(506.750)	(742.850)	3017.890

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.11	(0.31)	0.11
Operating Profit Margin (PBIDT/Sales)	(%)	6.25	3.06	2.57
Return on Total Assets (PBT/Total Assets}	(%)	2.73	(0.76)	0.33
Return on Investment (ROI) (PBT/Networth)		0.15	(0.04)	0.01
Debt Equity Ratio (Total Debt /Networth)		2.56	2.75	1.92
Current Ratio (Current Asset/Current Liability)		0.97	0.95	1.03

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	379.770	417.680	428.230
Reserves & Surplus	2057.430	1302.570	1608.830
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2437.200	1720.250	2037.060
long-term borrowings	11.670	1.660	0.000
Short term borrowings	4667.120	4728.560	5221.240
Current maturities of long-term debts	8.460	6.150	1.660
Total borrowings	4687.250	4736.370	5222.900
Debt/Equity ratio	1.923	2.753	2.564

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)
Sales	24700.260	23419.120	22116.660
		(5.187)	(5.562)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	24700.260	23419.120	22116.660
Profit/ (Loss)	26.120	(73.170)	245.140
	0.11%	(0.31%)	1.11%

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	Yes
8]	Designation of contact person	Yes
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	Yes
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)	Yes
16]	No. of employees	Yes
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%	Yes
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	Yes
32]	Litigations that the firm/promoter involved in	--
33]	Market information	--
34]	Payments terms	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

GENERAL INFORMATION

The company was incorporated on August 28, 1991 under laws of Republic of India. BGTL is mainly engaged in business of Trading of all type of Coal, Stevedoring and Logistic services.

FINANCIAL RESULTS AND HIGHLIGHTS

Turnover of Rs. 22116.670 Million as compared to the turnover of Rs. 23419.110 Million in previous year, downfall of 5.56% as compared to previous year. Profit before Tax and Depreciation of Rs. 330.380 Million as against loss of Rs.501.110 Million in previous year and Profit after Tax of Rs. 245.14 Million as against loss of Rs.977.970 Million in previous year, benefiting from increased margins, better marketing strategies, prudent forex policies and reduction in expenses.

UNSECURED LOAN

Particular	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans repayable on demand from banks	0.000	22.790
Loans and advances from related parties	12.070	36.310
Total	12.070	59.100

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10545601	31/12/2014	1,816,600,000.00	UNION BANK OF INDIA	MID CORPORATE BRANCH, SATGURU PARINAYA, PU-3, PLOT NO. 5, OPP. C-21 MALL, A. B. ROAD, INDORE, MADHYA PRADESH - 452001, INDIA	C41587379
2	10274694	19/03/2011 *	12,990,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA	B10209963

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2014	31.03.2013
Bills Discounted with Banks	614.210	1479.530
Bank Guarantees issued in favor of Customers/ various Parties	31.940	161.400
Corporate Guarantee issued on behalf of Group Companies US $ 51.75 Million (P.Y. US $ 51.75 Millions ) (Conversion Rate on the date of Balance Sheet US $ / Rupee = 59.92 )	3100.860	2810.540
Corporate Guarantee issued on behalf of Group Companies.	4495.340	4200.000

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

Intangible Assets

· Computer Software

· Licenses and Franchise

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.66.74
UK Pound	1	Rs.99.61
Euro	1	Rs.70.66

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	-
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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		16

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.