MIRA INFORM REPORT

Report No. :	353881
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	BRAHMANI RIVER PELLETS LIMITED (w.e.f. 15.09.2006)
Formerly Known As :	BRAHMINI RIVER PELLETS LIMITED
Registered Office :	5^th and 6^th Floor, IPICOL, Annex Building, IPICOL House, Janpath, Bhubaneswar – 751 022, Orissa
Tel. No.:	91-674-2543398
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	24.08.2006
Com. Reg. No.:	15-008914
Capital Investment / Paid-up Capital :	Rs.4874.989 millions
CIN No.: [Company Identification No.]	U27106OR2006PLC008914
IEC No.:	2306002061
TAN No.: [Tax Deduction & Collection Account No.]	BBNB01033E
PAN No.: [Permanent Account No.]	AACCB9418Q
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Iron Ore Pellets. (Confirmed by management)
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is a subsidiary of “Aryan Mining and Trading Corporation Limited’. It is engaged in manufacturing of iron ore pellets. Its products include copper pellets, iron ore pellets, metal pellets, nickel pellets and steel pellets. The company possesses moderate operational performance and it has incurred huge losses from its operational activities. Rating remain constrained on account of company’s moderate financial profile marked by its weak net worth base along with moderate liquidity position and leverage and moderate liquidity position. However, rating weakness is partially offset by strong financial and managerial support that company receives from its holding entity and extensive industry experience of promoters. 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 dealings 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 PARTED BY

Name :	Mr. Dipti Nath
Designation :	Accounts Department
Contact No.:	91-9167110877
Date :	09.12.2015

LOCATIONS

Registered Office :	5^th and 6^th Floor, IPICOL, Annex Building, IPICOL House, Janpath, Bhubaneswar – 751 022, Orissa, India
Tel. No.:	91-674-2542235
Mobile No.:	91-
Fax No.:	91-674-2543398
E-Mail :	dipti.nath@stemcor.com
Website :	http://www.stemcor.com
Location :	Leased
Locality :	Industrial
Corporate Office :	Nirmal, 10th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-67406666
Fax No.:	91-22-67406699
Factory 1 :	Kalinga Nagar Industrial Complex, Khurunti, P.O. Danagadi, District Jajpur – 755 026, Orissa, India
Factory 2 :	Nadiabhanga, duburi, Kalinaganagar express way Jaipur Road, Jaipur – 755026, Orissa, India
Factory 3 :	Also located at: Burbil, Keonjhar in Odisha

DIRECTORS

AS ON: 30.09.2014

Name :

Mr. Dharma Rao Namballa

Designation :

Managing Director

Address :

Barbil Joda Highway, Box No-86, Barbil, Keonjhar – 758 035, Orissa, India

Date of Birth/Age :

30.06.1956

Qualification :

B. Tech

Date of Appointment :

01.09.2012

DIN No.:

03388743

Name :

Mr. Sanjay Vijay Saraf

Designation :

Director

Address :

507, Giriraj Building, 73,Sant Tukaram Road, Mumbai - 400009, Maharashtra, India

Date of Appointment :

21.03.2013

DIN No.:

00230888

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	U27110MH1999PTC120489	VNS INDUSTRIES PRIVATE LIMITED	DIRECTOR	23/06/1999	23/06/1999	23/12/2009	ACTIVE	NO
2	U70101WB1995PTC073881	SWARAJ PROPERTIES PRIVATE LIMITED	DIRECTOR	12/01/2001	12/01/2001	-	ACTIVE	NO
3	U13100WB1936PLC008817	ARYAN MINING AND TRADING CORPN LIMITED	DIRECTOR	14/11/2013	21/10/2008	04/11/2014	ACTIVE	NO
4	U28998WB1994PTC064126	VSS IRON AND MINERALS PRIVATE LIMITED	DIRECTOR	15/07/2009	15/07/2009	-	ACTIVE	NO
5	U70109WB2009PTC137876	VSS PROPERTIES PRIVATE LIMITED	DIRECTOR	20/08/2009	20/08/2009	-	ACTIVE	NO
6	U52390WB2009PTC137910	VSS EXIM PRIVATE LIMITED	DIRECTOR	21/08/2009	21/08/2009	-	ACTIVE	NO
7	U65921WB1994PTC063359	VSS METALS PRIVATE LIMITED	DIRECTOR	12/03/2010	12/03/2010	-	ACTIVE	NO
8	U70102MH2011PTC217336	VEER REALCON PRIVATE LIMITED	DIRECTOR	11/05/2011	11/05/2011	-	ACTIVE	NO
9	U65921WB1991PTC053167	VIDYUT MERCHANDISE PRIVATE LIMITED	DIRECTOR	29/09/2012	05/10/2011	-	ACTIVE	NO
10	U51109WB2009PTC135268	DIVYA SUPPLIERS PRIVATE LIMITED	ADDITIONAL DIRECTOR	01/02/2012	01/02/2012	-	ACTIVE	NO
11	U51109WB2009PTC135267	EMERALD TIEUP PRIVATE LIMITED	ADDITIONAL DIRECTOR	01/02/2012	01/02/2012	-	ACTIVE	NO
12	L67120MH1982PLC026924	SUPREME HOLDINGS & HOSPITALITY (INDIA) LIMITED	ADDITIONAL DIRECTOR	29/03/2012	29/03/2012	14/09/2012	ACTIVE	NO
13	U27106OR2006PLC008914	BRAHMANI RIVER PELLETS LIMITED	ADDITIONAL DIRECTOR	21/03/2013	21/03/2013	-	ACTIVE	NO

Name :

Mr. Pradeep Kumar Saraf

Designation :

Director

Address :

55/1, Lake Road, Kolkata - 700029, West Bengal, India

Date of Appointment :

06.02.2014

DIN No.:

00268686

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	U45200WB1986PTC040480	DOVER PROPERTIES PRIVATE LIMITED	Director	08-04-1986	08-04-1986	-	Active	NO
2	U67120WB1989PTC045911	LUNA PROPERTIES PRIVATE LIMITED	Director	03-01-1989	03-01-1989	22-04-2009	Active	NO
3	U70101WB1990PTC048293	CHRISTOPHER HOUSING DEVELOPERS PRIVATE LIMITED	Director	31-01-1990	31-01-1990	-	Active	NO
4	U01132AS1980PLC001815	BADULIPAR LIMITED	Director	15-03-1991	15-03-1991	02-06-2014	Active	NO
5	U70101WB1987PTC043006	SHREE GANGA BHAGIRATHI COMMERCIAL PROJECTS PRIVATE LIMITED	Director	14-09-1991	14-09-1991	-	Active	NO
6	U70101WB1986PLC040794	SHREE GANGA CONSTRUCTION COMPANY LIMITED	Director	02-05-1992	02-05-1992	14-09-2012	Active	NO
7	U70101WB1989PTC046227	CHATURMAN PROPERTIES PRIVATE LIMITED	Director	30-10-1992	30-10-1992	-	Amalgamated	NO
8	U67110WB1994PLC061919	KOIRA MINERALS LIMITED	Director	22-02-1994	22-02-1994	24-09-2007	Active	NO
9	U52190WB1994PTC062658	BROWNY MARKETING PRIVATE LIMITED	Director	12-04-1994	12-04-1994	18-08-2009	Active	NO
10	U70101WB1989PTC046206	ANUGRAH PROPERTIES PRIVATE LIMITED	Director	19-07-1994	19-07-1994	-	Amalgamated	NO
11	U51909WB1994PTC064595	CALCUTTA VINCOM PRIVATE LIMITED	Director	07-11-1994	07-11-1994	-	Active	NO
12	U51109WB1995PTC069271	JANPRAGATI DISTRIBUTORS PRIVATE LIMITED	Director	12-05-1995	12-05-1995	-	Active	NO
13	U70101WB1995PTC071725	GURUMANTRAYA PROPERTIES PRIVATE LIMITED.	Director	22-05-1995	22-05-1995	-	Active	NO
14	U70101WB1995PTC076248	AGAM HOUSING PRIVATE LIMITED	Director	29-12-1995	29-12-1995	05-12-2014	Active	NO
15	U70101WB1995PTC076246	ANTARIKSH HOUSING PRIVATE LIMITED	Director	29-12-1995	29-12-1995	18-08-2009	Active	NO
16	U70101WB1996PTC076295	GANGESH PROPERTIES PRIVATE LIMITED	Director	01-01-1996	01-01-1996	-	Active	NO
17	U45201WB1996PTC076288	GANITPRAGNAYA HOUSING PRIVATE LIMITED	Director	01-01-1996	01-01-1996	20-05-2009	Active	NO
18	U70101WB1996PTC076293	GANHITAYA HOUSING PRIVATE LIMITED	Director	01-01-1996	01-01-1996	20-05-2009	Active	NO
19	U70101WB1996PTC076397	ANSHUMATI HOUSING PRIVATE LIMITED	Director	05-01-1996	05-01-1996	05-12-2014	Active	NO
20	U70101WB1996PTC076400	AJIV HOUSING PRIVATE LIMITED	Director	05-01-1996	05-01-1996	05-12-2014	Active	NO
21	U70101WB1996PTC076406	ATREYEE HOUSING PRIVATE LIMITED	Director	05-01-1996	05-01-1996	19-07-2010	Active	NO
22	U70101WB1996PTC076569	ANURAG HOUSING PRIVATE LIMITED	Director	12-01-1996	12-01-1996	05-12-2014	Active	NO
23	U70200WB1996PTC076581	SRASHTI PROPERTIES PRIVATE LIMITED	Director	12-01-1996	12-01-1996	19-01-2015	Active	NO
24	U70109WB1996PTC076568	ACHLA HOUSING PRIVATE LIMITED	Director	12-01-1996	12-01-1996	05-12-2014	Active	NO
25	U70101WB1996PTC076402	AISAWAT HOUSING PRIVATE LIMITED	Director	25-01-1996	25-01-1996	-	Active	NO
26	U70109WB1989PTC046132	BANMALI PROPERTIES PRIVATE LIMITED	Director	19-02-1996	19-02-1996	25-06-2007	Active	NO
27	U70101WB1989PTC046214	ANSHUMATI PROPERTIES PRIVATE LIMITED	Director	15-07-1996	15-07-1996	-	Amalgamated	NO
28	U70101WB1989PTC046204	AMOD PROPERTIES PRIVATE LIMITED	Director	19-07-1996	19-07-1996	-	Amalgamated	NO
29	U70109WB1989PTC046138	CHANDRASEKHAR PROPERTIES PRIVATE LIMITED.	Director	19-07-1996	19-07-1996	-	Amalgamated	NO
30	U70101WB1989PTC046207	CHAKRAPANI PROPERTIES PRIVATE LIMITED	Director	19-07-1996	19-07-1996	-	Amalgamated	NO
31	U70109WB1989PTC046136	AGAM PROPERTIES PRIVATE LIMITED	Director	19-07-1996	19-07-1996	-	Amalgamated	NO
32	U70101WB1989PTC046202	ACHLA PROPERTIES PRIVATE LIMITED	Director	19-07-1996	19-07-1996	-	Amalgamated	NO
33	U51909WB1992PTC056635	PANCHANAN TRADING PRIVATE LIMITED	Director	10-12-1996	10-12-1996	18-10-2011	Active	NO
34	U51909WB1994PTC065977	DIMPLE VINCOM PRIVATE LIMITED	Director	02-06-1997	02-06-1997	-	Active	NO
35	U51109WB1997PTC083125	DEVINE MERCANTILES PRIVATE LIMITED	Director	12-11-1999	12-11-1999	-	Active	NO
36	U70109WB1998PTC088016	DHANDHANZA CONSTRUCTIONS PRIVATE LIMITED	Director	28-03-2000	28-03-2000	18-08-2009	Active	NO
37	U45201WB1998PTC088011	NIVEDITA CONSTRUCTION PRIVATE LIMITED	Director	28-03-2000	28-03-2000	04-06-2014	Active	NO
38	U70109WB1998PTC088010	PRIYANKA NIRMAN PRIVATE LIMITED	Director	31-03-2000	31-03-2000	04-06-2014	Active	NO
39	U25209WB1990PTC049997	IPW CONTAINERS PRIVATE LIMITED	Director	30-06-2000	30-06-2000	18-08-2009	Active	NO
40	U67120WB1989PTC045900	NIHARIKA ESTATES PRIVATE LIMITED	Director	15-03-2001	15-03-2001	-	Active	NO
41	U24231WB1976PTC030424	LARGUS FLEMING PHARMACEUTICALS PRIVATE LIMITED	Director	21-06-2001	21-06-2001	26-09-2012	Active	NO
42	U70109WB1993PTC057363	SWASTIK DEVELOPERS PRIVATE LIMITED	Director	15-01-2002	15-01-2002	04-06-2014	Active	NO
43	U70101WB1995PTC073890	RAVLON PROPERTIES PRIVATE LIMITED	Director	24-03-2005	24-03-2005	21-01-2015	Active	NO
44	U70200WB1996PTC076582	RANA PROPERTIES PRIVATE LIMITED	Director	11-07-2005	11-07-2005	18-08-2009	Active	NO
45	U51909WB1995PTC069333	ASCENT TRADING PRIVATE LIMITED	Director	11-01-2006	11-01-2006	-	Active	NO
46	U27108WB2003PTC189367	SMITA ISPAT PRIVATE LIMITED	Director	01-11-2006	01-11-2006	-	Active	NO
47	U51109WB2006PTC107602	LAKE VIEW SUPPLIERS PRIVATE LIMITED	Director	14-02-2007	14-02-2007	-	Amalgamated	NO
48	U13100WB1936PLC008817	ARYAN MINING AND TRADING CORPN LIMITED	Director	26-08-2009	21-10-2008	-	Active	NO
49	U51109WB1983PLC036718	SUNBEAM UDYOG LIMITED	Director	25-08-2009	25-08-2009	-	Active	NO
50	U50103WB1946PLC013162	JAIDKA MOTOR COMPANY LIMITED	Director	20-01-2011	20-01-2011	-	Active	NO
51	U45400WB2013PTC193169	NASHIB REALCON PRIVATE LIMITED	Director	01-08-2013	01-08-2013	-	Active	NO
52	U27106OR2006PLC008914	BRAHMANI RIVER PELLETS LIMITED	Additional director	06-02-2014	06-02-2014	-	Active	NO

Name :

Mr. Seshadri Dilip

Designation :

Director

Address :

B 34 Defence Officer's Colony, Opposite Vuda Park, Visakhapatnam – 530017, Andhra Pradesh, India

Date of Appointment :

21.03.2013

DIN No.:

01710803

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	U27106OR2006PLC008914	BRAHMANI RIVER PELLETS LIMITED	Additional director	21/03/2013	24/08/2006	-	Active	NO
2	U13100WB1936PLC008817	ARYAN MINING and TRADING CORPN LIMITED	Director	13/06/2011	19/08/2010	20/09/2013	Active	NO
3	U51420MH2003PTC249491	STEMCOR INDIA PRIVATE LIMITED	Additional director	01/01/2012	01/01/2012	02/12/2013	Active	NO

Name :

Mr. Rusell Julian Oppenheimer

Designation :

Director

Address :

1, Lisburne Road, NW3, London, 2ns, United Kingdom

Date of Appointment :

21.03.2013

DIN No.:

06537994

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	U27106OR2006PLC008914	BRAHMANI RIVER PELLETS LIMITED	Additional director	21/03/2013	21/03/2013	-	Active	NO
2	U51420MH2003PTC249491	STEMCOR INDIA PRIVATE LIMITED	Additional director	27/09/2013	27/09/2013	08/08/2014	Active	NO

Name :

Dharma Rao Namballa

Designation :

Managing Director

Address :

Barbil Joda Highway, Box No-86, Barbil, Keonjhar - 758035, Orissa, India

Date of Appointment :

01.11.2010

DIN No.:

03388743

KEY EXECUTIVES

Name :	Karuna Kumar N.S.K Sripada
Designation :	Secretary
Address :	314, Fallon Residency, Patya, Bhubaneshwar - 751024, Orissa, India
Date of Appointment :	16.04.2015
PAN No:	Bfapk1515c

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2014

Names of Shareholders	No. of Shares
Rajendra Bohra	1
Vineet Mehra	1
Rajesh Agarwal	1
Sebastian Rozario	1
Ayesha Fernandes	1
Ayesha Fernandes	1
Aryan Mining and Trading Corporation Limited	1
	487498888
Total	487498895

Equity Share Break up (Percentage of Total Equity)

AS ON: 30.09.2014

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Iron Ore Pellets. (Confirmed by management)

Products :

Item Code No. (ITC Code)	73012090
Product Description	Mining of Iron Ore Pellets

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

China

Imports :

Not Divulged

Terms :

Selling :

L/C and Cheque

Purchasing :

L/C and Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	K. N. Ram
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 :	Bhushan Steel Limited
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 :

250 (Approximately)

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
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

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
From other parties
Term loan from IL and FS Financial Service	687.499	1604.167
Term loan from Indostar Capital Finance	437.500	1020.833
Term loan from Aditya Birla Finance Limited	250.000	583.333
Term loan from IFCI Limited	250.000	583.333
Term loan from TATA Capital Limited	250.000	583.333
Term loan from Indostar capital finance	345.000	0.000
Debentures
IL&FS Infra Debt Series 1A NCD	447.970	447.970
IL&FS Infra Debt Series 1A NCD	325.868	325.869
IL&FS Infra Debt Series 1A NCD	488.789	488.788
Total	3482.626	5637.626

Auditors :
Name :	S.R.B. and Associates Chartered Accountants
Address :	5^th Floor, IDCO Tower, Janapath, Bhubaneshwar – 751 022, Orissa, India
PAN No.:	AAXFS6281Q
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	Aryan Mining and Trading Corporation Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000000	Equity Shares	Rs.10/- each	Rs. 10000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
487498894	Equity Shares	Rs.10/- each	Rs. 4874.989 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	4874.989	4874.989	4874.989
(b) Reserves & Surplus	(991.921)	(445.709)	0.000
(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)	3883.068	4429.280	4874.989
(3) Non-Current Liabilities
(a) long-term borrowings	3782.626	6237.626	7776.689
(b) Deferred tax liabilities (Net)	0.000	0.000	6953.417
(c) Other long term liabilities	9988.398	8402.130	5.881
(d) long-term provisions	12.165	7.856	0.000
Total Non-current Liabilities (3)	13783.189	14647.612	14735.987
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	925.000
(b) Trade payables	1643.680	1882.867	597.707
(c) Other current liabilities	3593.750	3280.135	25.790
(d) Short-term provisions	49.744	132.120	5.463
Total Current Liabilities (4)	5287.174	5295.122	1553.960
TOTAL	22953.431	24372.014	21164.936
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	18769.028	18737.505	475.140
(ii) Intangible Assets	210.819	235.103	2.857
(iii) Capital work-in-progress	234.847	961.285	19104.357
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	510.770	229.514	0.000
(c) Deferred tax assets (net)	292.333	253.995	0.000
(d) Long-term Loan and Advances	9.827	11.226	253.702
(e) Other Non-current assets	0.000	0.000	0.344
Total Non-Current Assets	20027.624	20428.628	19836.400
(2) Current assets
(a) Current investments	0.294	0.230	0.222
(b) Inventories	917.641	1693.274	381.130
(c) Trade receivables	16.287	555.866	0.000
(d) Cash and cash equivalents	1338.715	903.085	576.368
(e) Short-term loans and advances	586.266	760.242	359.773
(f) Other current assets	66.604	30.689	11.043
Total Current Assets	2925.807	3943.386	1328.536
TOTAL	22953.431	24372.014	21164.936

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	10678.384	5718.965	0.000
	Other Income	174.910	73.204	0.000
	TOTAL	10853.294	5792.169	0.000
Less	EXPENSES
	Cost of Materials Consumed	5025.022	2483.908	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	555.363	-1117.395	0.000
	Employees benefits expense	215.025	153.924	0.000
	Other expenses	3002.286	2541.829	0.000
	TOTAL	8797.696	4062.266	0.000
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2055.598	1729.903	0.000
Less	FINANCIAL EXPENSES	2035.950	1655.754	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	19.648	74.149	0.000
Less/ Add	DEPRECIATION/ AMORTISATION	847.114	749.372	0.000
	PROFIT/ (LOSS) BEFORE TAX	(827.466)	(675.223)	0.000
Less	TAX	(281.255)	(229.514)	0.000
	PROFIT/ (LOSS) AFTER TAX	(546.211)	(445.709)	0.000
	Earnings Per Share (Rs.)	(1.12)	(0.91)	0.00

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(5.12)	(7.79)	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	19.25	30.25	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(3.78)	(2.95)	0.00
Return on Investment (ROI) (PBT/Networth)		(0.21)	(0.15)	0.00
Debt Equity Ratio (Total Debt /Networth)		0.97	1.41	1.78
Current Ratio (Current Asset/Current Liability)		0.55	0.74	0.85

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	4874.989	4874.989	4874.989
Reserves & Surplus	0.000	(445.709)	(991.921)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	4874.989	4429.280	3883.068
long-term borrowings	7776.689	6237.626	3782.626
Short term borrowings	925.000	0.000	0.000
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	8701.689	6237.626	3782.626
Debt/Equity ratio	1.785	1.408	0.974

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	5718.965	10678.384
		86.719

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	5718.965	10678.384
Profit	(445.709)	(546.211)
	(7.79%)	(5.12%)

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	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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS

ORSISA HIGH COURT

CASE STATUS INFORMATION SYSTEMS

Case Status : Pending

Status of: OTPAL – Other Tax of Application. 8 Of 2015

Litigation : EXCISE, CUSTOM AND SERVICES Vs. BRAHMANI REIVER PELLETS LIMITED

Pet’s Adv: MRINALINI PADHI

Res’s Adv:

Bench: ----

Last Date of Hearing : ------

Next / Final Date of Hearing : -------

Case Updated On : Monday, November 30, 2015

Category : CENTRAL EXCISE & SALT ACT, 1944

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
Other loans and advances	300.000	600.000
Total	300.000	600.000

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10530563	17/10/2014 *	1,650,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA	C34449413
2	10375283	02/08/2012	1,500,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA	B57602930
3	10329278	27/12/2011 *	9,000,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA	B32205171

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in million)

PARTICULARS	31.03.2015
Guarantees issued by the company’s banker on behalf of the company	213.937
Disputed Excise duty & other demand	131.423
Bonds Executed for machinery import under EPCG scheme	2823.884
Total	3169.244

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Factory Equipments

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

Intangible Assets

Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 66.75
UK Pound	1	Rs. 100.29
Euro	1	Rs. 72.89

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	JYO

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
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.