MIRA INFORM REPORT

Report No. :	355651
Report Date :	22.12.2015

IDENTIFICATION DETAILS

Name :	RABIRUN VINIMAY PRIVATE LIMITED
Registered Office :	Godrej Waterside, Suit – 403, Plot No. V, Block-DP, Sector – V, Saltlake City, Kolkata - 700091, West Bengal
Tel. No.:	--
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	23.02.1995
Com. Reg. No.:	21-068654
Capital Investment / Paid-up Capital :	Rs.1608.978 Million
CIN No.: [Company Identification No.]	U51109WB1995PTC068654
IEC No.:	0207027285
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCR2517D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Iron and Steel. (Registered activity)
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1995 having moderate track. It is engaged in manufacturing of cold rolled stainless steel. The company has continuously incurred losses from its two years of business operation. Borrowings recorded by the company are huge and increasing over years. The rating also takes into consideration highly competitive steel industry. Their trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct. 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	CARE
Rating	Long term Bank Facilities (BB-)
Rating Explanation	Moderate risk of default
Date	August 24 2015

Rating Agency Name	CARE
Rating	Short term Bank Facilities (A4)
Rating Explanation	Minimal degree of safety and carry very high credit risk
Date	August 24 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 DENIED BY

Name :	Mr. Reshma Shaw
Designation :	--
Contact No.:	91-33-40162300
Date :	21.12.2015

LOCATIONS

Registered Office :	Godrej Waterside, Suit – 403, Plot No. V, Block-DP, Sector – V, Saltlake City, Kolkata - 700091, West Bengal, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	cosecbrg@brggroup.in
Website :	www.brgroup.in

DIRECTORS

As on 31.03.2015

Name :

Mr. Jasbir Singh Bindra

Designation :

Director

Address :

52/9, Second Floor, C.R. Park, New Delhi - 110019, India

Date of Birth/Age :

Date of Appointment :

30.09.2015

DIN No.:

01953375

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	U45400DL2008PTC173389	VITALIA MODULES PRIVATE LIMITED	Director	30/01/2008	30/01/2008	11/11/2008	Active	NO
2	U74900DL2009PTC187899	CONTEMPORARY CREATIONS PRIVATE LIMITED	Director	24/02/2009	24/02/2009	-	Active	NO
3	U74140DL2011PTC223709	INOX TECHNOLOGIES PRIVATE LIMITED	Director	12/08/2011	12/08/2011	30/09/2011	Active	NO
4	U51109WB1995PTC068654	RABIRUN VINIMAY PVT.LTD.	Director	30/09/2015	01/04/2015	-	Active	NO
5	U27101WB2002PTC095499	BRG IRON & STEEL CO. PRIVATE LIMITED	Director	30/09/2015	01/04/2015	-	Active	NO
6	U27100WB2007PTC120297	BHUVEE STENOVATE PRIVATE LIMITED	Whole-time director	30/09/2015	01/04/2015	-	Active	NO

Name :

Ms. Anjani Kumar Goyal

Designation :

Director

Address :

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

Date of Birth/Age :

06.01.1949

Date of Appointment :

07.06.2007

DIN No.:

00276348

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	U27109WB1995PLC071548	SHYAM FERRO ALLOYS LTD.	Director	16/05/1995	16/05/1995	13/02/2012	Active	NO
2	U27101WB2002PTC095499	BRG IRON & STEEL CO. PRIVATE LIMITED	Director	12/12/2002	12/12/2002	-	Active	NO
3	U27106WB2003PTC095753	BRG METAL & POWER PRIVATE LIMITED.	Director	04/02/2003	04/02/2003	19/10/2015	Active	NO
4	U27320WB2002PTC095111	JAI HANUMANTA STEEL PRIVATE LIMITED	Director	25/07/2003	25/07/2003	05/12/2014	Active	NO
5	U51109WB1995PTC068654	RABIRUN VINIMAY PVT.LTD.	Director	07/06/2007	07/06/2007	-	Active	NO
6	U74140WB1993PTC057394	BHUVEE PROFILES & STAINLESS PRIVATE LIMITED	Director	15/09/2007	15/09/2007	-	Amalgamated	NO
7	U25112WB2008PTC130382	INTEGERATED PIPES & TUBES PRIVATE LIMITED	Director	10/11/2008	10/11/2008	-	Active	NO
8	U74900WB2008PTC131341	BHUVEE PACKAGING & ANCILLIARY PRIVATE LIMITED	Director	18/12/2008	18/12/2008	09/07/2015	Active	NO
9	U27100WB2009PTC138217	MAHANADI DECORATIVE SHEETS PRIVATE LIMITED	Director	03/09/2009	03/09/2009	10/07/2015	Active	NO
10	U27100WB2007PTC120297	BHUVEE STENOVATE PRIVATE LIMITED	Director	30/09/2010	06/11/2009	-	Active	NO
11	U52390WB2010PTC151210	BRG INDUSTRIES PRIVATE LIMITED	Director	12/07/2010	12/07/2010	-	Active	NO
12	U52100WB2010PTC151212	BRG INTERNATIONAL PRIVATE LIMITED	Director	12/07/2010	12/07/2010	19/10/2015	Active	NO
13	U74999WB2011PTC158153	INTEGERATED ENGINEERING SOLUTION PRIVATE LIMITED	Director	28/01/2011	28/01/2011	11/07/2014	Active	NO

Name :

Mr. Jai Kumar Goyal

Designation :

Director

Address :

1, Bally Gunge Park Road, Bally High, Bally Gunge, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

08.05.1955

Date of Appointment :

01.02.2011

DIN No.:

00324847

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	U74899DL1980PTC010946	JAY GUM CHEMICALS INDIA PRIVATE LIMITED	Director	11/05/2000	11/05/2000	-	Active	NO
2	U27101WB2002PTC095499	BRG IRON & STEEL CO. PRIVATE LIMITED	Director	12/12/2002	12/12/2002	-	Active	NO
3	U51909WB1996PTC078600	SUNRISE MERCHANDISE PVT LTD	Director	24/02/2003	24/02/2003	-	Active	NO
4	U51109WB1996PTC078066	ALLWORTH MERCHANDISE PVT LTD	Director	24/02/2003	24/02/2003	-	Active	NO
5	U27109WB2003PTC095735	BRG STEEL PRIVATE LIMITED	Director	02/06/2003	02/06/2003	-	Amalgamated	NO
6	U27100WB2007PTC120297	BHUVEE STENOVATE PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
7	U51109WB1995PTC068654	RABIRUN VINIMAY PVT.LTD.	Director	01/02/2011	01/02/2011	-	Active	NO
8	U74140WB1993PTC057394	BHUVEE PROFILES & STAINLESS PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Amalgamated	NO
9	U27100WB2009PTC138217	MAHANADI DECORATIVE SHEETS PRIVATE LIMITED	Director	22/04/2014	22/04/2014	10/07/2015	Active	NO
10	U74900WB2008PTC131341	BHUVEE PACKAGING & ANCILLIARY PRIVATE LIMITED	Director	22/04/2014	22/04/2014	09/07/2015	Active	NO
11	U25112WB2008PTC130382	INTEGERATED PIPES & TUBES PRIVATE LIMITED	Director	22/04/2014	22/04/2014	-	Active	NO
12	U93000WB2013NPL194139	SHIROMANI FLAT OWNERS ASSOCIATION	Additional director	25/04/2015	25/04/2015	-	Active	NO
13	U51109WB1989PTC046560	DAGA BUSINESS & CREDIT PVT LTD	Director	28/09/2015	08/06/2015	-	Active	NO
14	U51909WB1994PTC062765	RAVLON COMMODITIES PVT LTD	Director	30/09/2015	08/06/2015	-	Active	NO
15	U51909WB1994PTC062136	YUKEN MERCHANDISE PVT LTD	Director	30/09/2015	08/06/2015	-	Active	NO
16	U51909WB1993PTC058227	VIRAL COMMERCIAL COMPANY PVT LTD	Director	29/09/2015	08/06/2015	-	Active	NO
17	U51909WB1990PTC048800	RAMESH MERCANTILE PVT LTD	Director	29/09/2015	08/06/2015	-	Active	NO
18	U51909WB1990PTC048799	AARPEE COMMERCIAL COMPANY PVT LTD	Director	28/09/2015	08/06/2015	-	Active	NO
19	U74220WB1992PLC054631	PAFCO LABORATORIES LIMITED	Director	28/09/2015	05/07/2015	-	Active	NO

Name :

Mr. Himanshu Goyal

Designation :

Director

Address :

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

Date of Birth/Age :

24.02.1975

Date of Appointment :

01.02.2011

DIN No.:

00276571

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	U74899DL1980PTC010946	JAY GUM CHEMICALS INDIA PRIVATE LIMITED	Director	15/11/1994	15/11/1994	-	Active	NO
2	U27109WB2000PLC091371	G S C CASTOFIRM LIMITED	Director	15/03/2000	15/03/2000	10/03/2009	Active	NO
3	U27101WB2002PTC095499	BRG IRON & STEEL CO. PRIVATE LIMITED	Director	12/12/2002	12/12/2002	-	Active	NO
4	U27109WB2003PTC095735	BRG STEEL PRIVATE LIMITED	Director	31/01/2003	31/01/2003	-	Amalgamated	NO
5	U27106WB2003PTC095753	BRG METAL & POWER PRIVATE LIMITED.	Director	04/02/2003	04/02/2003	19/10/2015	Active	NO
6	U27320WB2002PTC095111	JAI HANUMANTA STEEL PRIVATE LIMITED	Director	25/07/2003	25/07/2003	05/12/2014	Active	NO
7	U27109WB1995PLC071548	SHYAM FERRO ALLOYS LTD.	Director	25/07/2004	25/07/2004	-	Active	NO
8	U51109WB1994PTC063491	MODSNA TIE UP PVT LTD	Director	30/09/2010	15/01/2010	-	Active	NO
9	U52390WB2010PTC151210	BRG INDUSTRIES PRIVATE LIMITED	Director	12/07/2010	12/07/2010	-	Active	NO
10	U52100WB2010PTC151212	BRG INTERNATIONAL PRIVATE LIMITED	Director	12/07/2010	12/07/2010	19/10/2015	Active	NO
11	U27100WB2007PTC120297	BHUVEE STENOVATE PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
12	U51109WB1995PTC068654	RABIRUN VINIMAY PVT.LTD.	Director	01/02/2011	01/02/2011	-	Active	NO
13	U74140WB1993PTC057394	BHUVEE PROFILES & STAINLESS PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Amalgamated	NO
14	U51909WB1994PTC062493	LEDO VYAPAAR PVT LTD	Director	19/02/2013	19/02/2013	-	Active	NO
15	U51109WB1996PTC080975	RCD TRADING PVT LTD	Director	20/02/2013	20/02/2013	-	Active	NO
16	U51109WB1994PTC064288	EVIKA VINCOM PVT. LTD.	Director	22/02/2013	22/02/2013	-	Active	NO
17	U28990DL2013PTC253415	BRG FABRINOX PRIVATE LIMITED	Director	03/06/2013	03/06/2013	-	Active	NO
18	U74120WB1994PTC061528	ADVIN FISCAL SERVICES PVT. LTD.	Director	25/08/2014	02/12/2013	-	Active	NO
19	U51109WB1995PTC075883	ANUDEEP CONSULTANTS PVT.LTD.	Director	25/08/2014	03/12/2013	-	Active	NO
20	U51109WB1995PTC068590	CYNOSURE TRACON PVT.LTD.	Director	29/08/2014	03/12/2013	-	Active	NO
21	U51109WB1995PTC067905	CAROL SYNTEX PVT LTD	Director	28/08/2014	03/12/2013	-	Active	NO
22	U51109WB1994PTC063125	ASHDIL TRADING COMPANY PVT LTD	Director	26/08/2014	03/12/2013	-	Active	NO
23	U52190WB1994PTC062081	WELLMAN SALES AGENCY PVT LTD	Director	30/08/2014	03/12/2013	-	Active	NO
24	U74220WB1992PLC054631	PAFCO LABORATORIES LIMITED	Director	30/08/2014	04/12/2013	-	Active	NO

Name :

Mr. Sandeep Goyal

Designation :

Managing Director

Address :

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

Date of Birth/Age :

02.02.1973

Date of Appointment :

07.02.2015

DIN No.:

00276140

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	U27109WB2000PLC091371	G S C CASTOFIRM LIMITED	Director	15/03/2000	15/03/2000	10/03/2009	Active	NO
2	U51109WB1996PTC080975	RCD TRADING PVT LTD	Director	12/09/2001	12/09/2001	-	Active	NO
3	U27109WB1995PLC071548	SHYAM FERRO ALLOYS LTD.	Director	07/06/2003	07/06/2003	-	Active	NO
4	U51909WB1995PTC073411	KECONS TRADECARE PVT.LTD.	Director	31/12/2003	31/12/2003	-	Active	NO
5	U74220WB1992PLC054631	PAFCO LABORATORIES LIMITED	Director	14/02/2005	14/02/2005	-	Active	NO
6	U51109WB1994PTC064288	EVIKA VINCOM PVT. LTD.	Director	01/04/2006	01/04/2006	-	Active	NO
7	U51909WB1994PTC062493	LEDO VYAPAAR PVT LTD	Director	01/04/2006	01/04/2006	-	Active	NO
8	U74140WB1993PTC057394	BHUVEE PROFILES & STAINLESS PRIVATE LIMITED	Managing director	30/09/2010	15/05/2006	-	Amalgamated	NO
9	U51109WB1995PTC068654	RABIRUN VINIMAY PVT.LTD.	Managing director	07/02/2015	24/01/2007	-	Active	NO
10	U27100WB2007PTC120297	BHUVEE STENOVATE PRIVATE LIMITED	Managing director	30/07/2015	07/11/2007	-	Active	NO
11	U51109WB1994PTC063125	ASHDIL TRADING COMPANY PVT LTD	Director	28/07/2008	01/04/2008	-	Active	NO
12	U74120WB1994PTC061528	ADVIN FISCAL SERVICES PVT. LTD.	Director	28/07/2008	01/04/2008	-	Active	NO
13	U25112WB2008PTC130382	INTEGERATED PIPES & TUBES PRIVATE LIMITED	Director	10/11/2008	10/11/2008	25/04/2014	Active	NO
14	U74900WB2008PTC131341	BHUVEE PACKAGING & ANCILLIARY PRIVATE LIMITED	Director	18/12/2008	18/12/2008	25/04/2014	Active	NO
15	U27100WB2009PTC138217	MAHANADI DECORATIVE SHEETS PRIVATE LIMITED	Director	03/09/2009	03/09/2009	25/04/2014	Active	NO
16	U51109WB1995PTC075883	ANUDEEP CONSULTANTS PVT.LTD.	Director	30/10/2009	30/10/2009	-	Active	NO
17	U51109WB1995PTC068590	CYNOSURE TRACON PVT.LTD.	Director	30/10/2009	30/10/2009	-	Active	NO
18	U51109WB1995PTC067905	CAROL SYNTEX PVT LTD	Director	30/10/2009	30/10/2009	-	Active	NO
19	U52190WB1994PTC062081	WELLMAN SALES AGENCY PVT LTD	Director	30/10/2009	30/10/2009	-	Active	NO
20	U27101WB2002PTC095499	BRG IRON & STEEL CO. PRIVATE LIMITED	Director	06/02/2015	06/02/2010	-	Active	NO
21	U27100RJ2009PTC046910	SUNCITY STRIPS & TUBES PRIVATE LIMITED	Director	30/09/2010	01/04/2010	15/11/2012	Active	NO
22	U51909WB1996PTC078600	SUNRISE MERCHANDISE PVT LTD	Director	30/09/2010	06/04/2010	-	Active	NO
23	U51109WB1996PTC078066	ALLWORTH MERCHANDISE PVT LTD	Director	30/09/2010	06/04/2010	-	Active	NO
24	U51109WB1994PTC063491	MODSNA TIE UP PVT LTD	Director	30/09/2010	12/04/2010	-	Active	NO
25	U52100WB2010PTC151212	BRG INTERNATIONAL PRIVATE LIMITED	Director	13/07/2015	13/07/2010	19/10/2015	Active	NO
26	U74999WB2011PTC158153	INTEGERATED ENGINEERING SOLUTION PRIVATE LIMITED	Director	28/01/2011	28/01/2011	11/07/2014	Active	NO
27	U27107DL2008PTC184665	PROLIFIQUE ROLLS PRIVATE LIMITED	Director	31/05/2012	31/05/2012	05/12/2012	Active	NO
28	U28990DL2013PTC253415	BRG FABRINOX PRIVATE LIMITED	Managing director	03/06/2013	03/06/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2015

Names of Shareholders	No. of Shares
Sandeep Goyal	1367510
Cynosure Tracon Private Limited	21411500
Carol Syntex Private Limited	13850000
Pafco Laboratories Limited	216773
Anjani Kumar Goyal	407552
Modsna Tie-Up Private Limited	1341
Ledo Vyapaar Private Limited	41125
Allworth Merchandise Private Limited, India	4340487
Ashdil Trading Company Private Limited, India	11991975
Anudeep Consultants Private Limited, India	17974193
Balemino Holdings Limited	15351172
Sunrise Merchandise Private Limited, India	10050000
Wellman Sales Agency Private Limited, India	3062500
Yuken Merchandise Private Limited, India	6347000
Aarpee Commercial Company Private Limited, India	5800000
Ravlon Commodities Private Limited, India	640000
Jap Merchandise Limited	312500
Mangalam Industrial Finance Limited	13887500
Shree Securities Limited	6862500
Bliss Dealcom Private Limited	14303571
Spaceplus Agencies Private Limited	8928571
Evika Vincom Private Limited	3750000
Total	160897770

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	11.46
Bodies corporate	87.21
Directors or relatives of Directors	1.33
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Iron and Steel. (Registered activity)

Products :

Item Code No.	Product Description
72193520	S.S. Pipes and Tubes, Sheets and Circles

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

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 :	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 :

Information declined by the management

Bankers :

Bank Name	UCO Bank and Other Banks
Branch	Flagship Corporate Branch, 3, Netaji Subhas Road, Kolkata- 700001, West Bengal, 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

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Term loan from Bank	6627.677	4844.040
Loans taken for vehicle	3.495	6.231
(Loans against Equipment/ Vehicle are secured by way of hypothecation of respective equipment / vehicle )
Short-term borrowings
Term loan from Bank	3124.197	1842.283
(Working Capital facilities shall have first pari passu charge on both present and future current assets and second pari-passu charge on both present and future fixed assets of the company)
Total	9755.366	6692.554

Auditors :
Name :	Amit Tulsyan and Associates Chartered Accountants
Address :	Commerce House, 2A, Ganesh Chandra Avenue, 9^th Floor, Suit No. 8-C, Kolkata – 700013, West Bengal, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAQEA0674E
Memberships :	Not Available
Collaborators :	Not Available
Enterprises in which KMP and their relative have substantial interest :	Ashdil Trading Company Private Limited Anudeep Consultants Private Limited BRG Iron and Company Private Limited Cynosure Tracon Private Limited Evika Vincom Private Limited Integrated Engineering Solutions Private Limited Ledo Vyapaar Private Limited Pafco Laboratories Limited Sunrise Merchandise Private Limited

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
165000000	Equity Shares	Rs.10/- each	Rs.1650.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
160897770	Equity Shares	Rs.10/- each	Rs.1068.977 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	1608.977	1339.156	753.596
(b) Reserves & Surplus	2050.334	2324.109	921.460
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	100.000	1333.650
Total Shareholders’ Funds (1) + (2)	3659.311	3763.265	3008.706
(3) Non-Current Liabilities
(a) long-term borrowings	6631.172	4850.271	3735.908
(b) Deferred tax liabilities (Net)	0.000	360.103	0.000
(c) Other long term liabilities	218.467	745.881	1671.005
(d) long-term provisions	2.786	0.971	0.679
Total Non-current Liabilities (3)	6852.425	5957.226	5407.592
(4) Current Liabilities
(a) Short term borrowings	3124.197	1842.283	0.000
(b) Trade payables	1848.932	869.903	1.938
(c) Other current liabilities	982.110	1122.615	138.983
(d) Short-term provisions	0.414	1.904	0.708
Total Current Liabilities (4)	5955.653	3836.705	141.629
TOTAL	16467.389	13557.196	8557.927
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4788.120	3841.902	243.003
(ii) Intangible Assets	1.247	1.385	1.524
(iii) Capital work-in-progress	3311.541	3477.798	6928.961
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	453.515	0.000	0.000
(d) Long-term Loan and Advances	16.057	12.512	4.348
(e) Other Non-current assets	0.350	0.350	0.350
Total Non-Current Assets	8570.830	7333.947	7178.186
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4421.161	3189.982	400.443
(c) Trade receivables	1753.313	779.835	0.000
(d) Cash and cash equivalents	432.571	951.316	712.106
(e) Short-term loans and advances	1268.738	1277.234	251.255
(f) Other current assets	20.776	24.882	15.937
Total Current Assets	7896.559	6223.249	1379.741
TOTAL	16467.389	13557.196	8557.927

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Revenue from Operations	6598.590	3981.505	0.000
	Other Income	34.060	20.604	0.499
	TOTAL (A)	6632.650	4002.109	0.499
Less	EXPENSES
	Cost of Materials Consumed	6875.027	3667.745
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(172.875)	(87.507)
	Employees benefits expense	38.597	27.016
	Other expenses	64.305	17.995
	TOTAL (B)	6805.054	3625.249	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(172.404)	376.860	NA
Less	FINANCIAL EXPENSES (D)	1089.361	267.959
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(1261.765)	108.901	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)	311.307	101.399	NA
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(1573.072)	7.502	0.266
Less	TAX (H)	(813.619)	361.532	0.090
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(759.453)	(354.030)	0.176
	Earnings / (Loss) Per Share (Rs.)	(5.48)	(4.23)	--

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 flow from (used in) operations	(2964.653)	(3585.194)	(559.208)
Net cash flow from operating activity	(1909.352)	(3329.675)	(555.507)

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(11.51)	(8.89)	35.27
Operating Profit Margin (PBIDT/Sales)	(%)	(2.61)	9.47	NA
Return on Total Assets (PBT/Total Assets}	(%)	(12.38)	0.07	0.01
Return on Investment (ROI) (PBT/Networth)		(0.43)	0.00	0.00
Debt Equity Ratio (Total Debt /Networth)		2.67	1.78	1.24
Current Ratio (Current Asset/Current Liability)		1.33	1.62	9.74

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	753.596	1339.156	1608.977
Reserves & Surplus	921.460	2324.109	2050.334
Net worth	3008.706	3763.265	3659.311
long-term borrowings	3735.908	4850.271	6631.172
Short term borrowings	0.000	1842.283	3124.197
Total borrowings	3735.908	6692.554	9755.369
Debt/Equity ratio	1.242	1.778	2.666

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	3981.505	6598.590
	#REF!	65.731

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)
Sales	3981.505	6598.590
Profit	(354.030)	(759.453)
	(8.89%)	(11.51%)

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)	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	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted fromGodrej Waterside, Suit – 403, Plot No. V, Block-DP, Sector – 5, Salt Lake City, Kolkata – 700097, West Bengal, India to the present address w.e.f.

OPERATION REVIEW

The company Revenue from Operations increased to Rs. 6598.590 Million against 3981.505 Million in the previous year. The Net profit (Loss) after tax is Rs. (759.453 Million) against Rs. (354.030 Million) in the previous year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10551674	18/09/2015 *	15,412,500,000.00	UCO BANK (Lead Bank)	Flagship Corporate Branch, 2, India Exchange Place, Kolkata, West Bengal - 700001, INDIA	C69696516
2	10434929	12/08/2013 *	4,830,000,000.00	UCO BANK & OTHER BANKS	FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD, KOLKATA, West Bengal - 700001, INDIA	B81956088
3	10432655	12/08/2013 *	4,830,000,000.00	CENTRAL BANK OF INDIA (LEAD BANK)	Corporate Finance Branch, Kolkata, 33, Netaji Sub  has Road, Kolkata, West Bengal - 700001, INDIA	B81902744
4	10346463	15/03/2012	200,000,000.00	CENTRAL BANK OF INDIA	Corporate Finance Branch,, 33, Netaji Subhas Road  , Kolkata, West Bengal - 700001, INDIA	B36635480
5	10317737	21/10/2011	258,000,000.00	CORPORATION BANK	Dharamtolla Branch,, 8, Lenin Sarani, Kolkata, West Bengal - 700013, INDIA	B25339326
6	10316052	30/09/2011	645,000,000.00	INDIAN BANK	3A, HARE STREET, STRAND ROAD BARANCH, KOLKATA, West Bengal - 700001, INDIA	B24689986
7	10318657	29/09/2011	200,000,000.00	Tamilnad Mercantile Bank Ltd	58D, Netaji Subhas Road, Ganesh Market, II Floor,  Kolkata, West Bengal - 700001, INDIA	B25687807
8	10306838	10/09/2011	6,000,000,000.00	UCO BANK (LEAD BANK)	FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD,  , KOLKATA, West Bengal - 700001, INDIA	B20804381
9	10306841	10/09/2011	6,000,000,000.00	UCO BANK (LEAD BANK)	FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD,  , KOLKATA, West Bengal - 700001, INDIA	B20806352
10	10274679	03/03/2011	3,300,000,000.00	UCO BANK (LEAD BANK)	MID CORPORATE BRANCH, 10, B. T. M. SARANI, KOLKATA, West Bengal - 700001, INDIA	B08755639

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 records 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.66.32
UK Pound	1	Rs.98.98
Euro	1	Rs.72.13

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	DIV
Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	5
--CREDIT LINES	1~10	3
--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		30

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.