MIRA INFORM REPORT

Report No. :	355653
Report Date :	23.12.2015

IDENTIFICATION DETAILS

Name :	S P S METAL CAST AND ALLOYS LIMITED
Registered Office :	Elegant Towers, 224A, A.J.C. Bose Road, Kolkata – 700017, West Bengal
Tel. No.:	91-33-22895167
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.07.1990
Com. Reg. No.:	21-049475
Capital Investment / Paid-up Capital :	Rs. 112.655 Million
CIN No.: [Company Identification No.]	U27104WB1990PLC049475
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Subject is engaged in the manufacturer of iron and steel and related products. [Registered Activity]
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

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 :	Unknown
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 1990 having moderate track record. Management of the company has not filed its financial with the government department for the year 2015. As per available financial of 2014, financial position of the company seems to be weak. It has incurred huge accumulated losses which exceeds entire net worth. Management denied to part any information about the company. As per Registrar of Companies the status of the company is shown as active. Payment terms are unknown. The company can be considered for business dealings on safe and secured trade terms and conditions.

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 DENIED

Management non co-operative (Tel. No.: 91-33-22895167)

LOCATIONS

Registered Office :	Elegant Towers, 224A, A.J.C. Bose Road, Kolkata – 700017, West Bengal, India
Tel. No.:	91-33-22895167
Fax No.:	91-33-22895170
E-Mail :	a.upadyay@spsgroup.co.in
Website :	www.spsgroup.co.in
Head Office :	68 A, Pramathesh Barua Sarani Ballygunge, Kolkata – 700019, West Bengal, India

DIRECTORS

AS ON 29.09.2014

Name :

Arjun Kumar Santhalia

Designation :

Managing Director

Address :

10 Sunny Park, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

28.07.1953

Date of Appointment :

13.01.2013

DIN No.:

00601236

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	U27104WB1990PLC049475	S P S METAL CAST & ALLOYS LIMITED	Managing director	13/01/2013	02/08/1993	-	Active	NO
2	L51909WB1981PLC034409	SPS STEELS ROLLING MILLS LIMITED	Director	10/12/2009	22/07/1998	-	Active	NO
3	U51909WB1995PLC072045	CONCAST STEEL & POWER LIMITED	Director	02/01/1999	02/01/1999	16/11/2010	Active	NO
4	U51506WB2000PTC091537	BENGAL RECYCLERS & FABRICATORS PRIVATE LIMITED	Director	14/09/2001	14/09/2001	-	Active	NO
5	U27109WB2003PLC096537	SPS STEELS LIMITED	Director	07/07/2003	07/07/2003	-	Active	NO
6	U27109WB2004PLC099098	SPS MORTEX FERRO ALLOYS LIMITED	Director	13/07/2004	13/07/2004	-	Active	NO
7	U70101WB2004PLC100429	KIT SPS REAL ESTATE DEVELOPMENT LIMITED	Director	17/11/2004	17/11/2004	-	Active	NO
8	U32303WB2005PLC101343	SPS ARTS & ENTERTAINMENT LIMITED	Director	25/01/2005	25/01/2005	-	Active	NO
9	U70101WB2002PLC095018	BENGAL INDIA GLOBAL INFRASTRUCTURE LIMITED	Director	01/02/2010	23/09/2005	-	Active	NO
10	U70101WB1986PTC041455	IQ CITY INFRASTRUCTURE PRIVATE LIMITED	Director	22/12/2006	22/12/2006	06/02/2013	Active	NO
11	U27109OR1992PTC003046	PAWANSUT SPONGE PRIVATE LIMITED	Director	25/03/2008	22/03/2007	-	Amalgamated	NO
12	L27201WB1961PLC025269	INDO AMERICAN ELECTRICALS LTD	Director	30/09/2013	27/07/2007	-	Active	NO
13	U63040WB2007PTC117887	SPS TOURS & HOTELS PRIVATE LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO
14	U27109WB2004PTC098368	RITIKA STEEL INDUSTRIES PRIVATE LIMITED	Director	01/11/2007	01/11/2007	21/11/2007	Active	NO
15	U51109WB1996PTC082061	AFTEK TRADERS PRIVATE LIMITED	Director	05/12/2013	26/02/2008	10/10/2014	Active	NO
16	U17119WB1995PLC180759	SURAJ FABRICS INDUSTRIES LIMITED	Managing director	01/02/2014	12/11/2008	-	Active	NO
17	U40300WB2010PTC150517	SPS SYNERGY SOLAR Private Limited	Director	17/06/2010	17/06/2010	31/05/2014	Active	NO
18	U27100WB2011PLC158285	SPS ISPAT & POWER LIMITED	Director	31/07/2012	01/02/2011	-	Active	NO
19	U61200WB2011PLC160729	SPS SHIPPING LIMITED	Director	14/09/2012	15/03/2011	-	Active	NO
20	U15122WB2011PTC161138	R S UNIAGRO PRIVATE LIMITED	Director	24/03/2011	24/03/2011	05/02/2014	Active	NO
21	U51900WB1985PTC132208	ROLEX COMMERCIAL COMPANY Private Limited	Director	16/06/2011	16/06/2011	-	Active	NO
22	U52190WB2010PTC146725	DAYA COMMOSALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	08/04/2013	Active	NO
23	U52100WB2010PTC145920	BHADRAKAALI SALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	08/04/2013	Active	NO
24	U45209WB1994PTC066375	INCENTS CONSULTANTS PVT. LTD.	Director	16/06/2011	16/06/2011	12/12/2012	Active	NO
25	U52100WB2010PTC145874	BALAPRADA TRACOM PRIVATE LIMITED	Director	18/06/2011	18/06/2011	-	Active	NO
26	U52190WB2010PTC145370	AARYA VINTRADE PRIVATE LIMITED	Director	18/06/2011	18/06/2011	-	Active	NO
27	U55101OR1980PLC000874	ASHOKA INDUSTRIES LIMITED	Director	30/09/2011	06/09/2011	13/11/2012	Active	NO
28	U27109WB2006PTC111779	SHRIRAMRATHI STEELS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	-	Active	NO

Name :

Bipin Kumar Vohra

Designation :

Director

Address :

135G, S P Mukherjee Road, Kolkata - 700026, West Bengal, India

Date of Birth/Age :

25.03.1962

Date of Appointment :

11.12.2009

DIN No.:

00276567

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	U27104WB1990PLC049475	S P S METAL CAST & ALLOYS LIMITED	Director	11/12/2009	29/01/1994	-	Active	NO
2	L51909WB1981PLC034409	SPS STEELS ROLLING MILLS LIMITED	Managing director	01/01/2013	20/05/1998	-	Active	NO
3	U70101WB1986PTC041455	IQ CITY INFRASTRUCTURE PRIVATE LIMITED	Director	27/06/1998	27/06/1998	06/02/2013	Active	NO
4	U51909WB1995PLC072045	CONCAST STEEL & POWER LIMITED	Director	15/07/2009	02/01/1999	16/11/2010	Active	NO
5	U74899DL2001PLC105512	T T RAIL LINKS LIMITED	Director	29/03/2001	29/03/2001	-	Active	NO
6	U51506WB2000PTC091537	BENGAL RECYCLERS & FABRICATORS PRIVATE LIMITED	Director	14/09/2001	14/09/2001	-	Active	NO
7	U70101WB2002PLC095018	BENGAL INDIA GLOBAL INFRASTRUCTURE LIMITED	Managing director	01/12/2013	24/09/2002	-	Active	NO
8	U27109WB2003PLC096537	SPS STEELS LIMITED	Director	07/07/2003	07/07/2003	-	Active	NO
9	U51909WB1995PTC073626	TECHMART BROKING COMPANY PVT.LTD.	Director	18/11/2003	18/11/2003	-	Active	NO
10	U51909WB1995PTC073585	CHEKSONS BROKING COMPANY PVT.LTD.	Director	18/11/2003	18/11/2003	-	Active	NO
11	U27109WB2004PLC099098	SPS MORTEX FERRO ALLOYS LIMITED	Director	13/07/2004	13/07/2004	-	Active	NO
12	U55101WB2001PTC093671	RENAISSANCE RESORTS & ENTERTAINMENT PRIVATE LIMITED	Director	15/10/2004	15/10/2004	-	Active	NO
13	U70101WB1989PTC047920	NEERAJ ESTATES PVT LTD	Director	15/10/2004	15/10/2004	06/12/2012	Active	NO
14	U70101WB2004PLC100429	KIT SPS REAL ESTATE DEVELOPMENT LIMITED	Director	17/11/2004	17/11/2004	-	Active	NO
15	U32303WB2005PLC101343	SPS ARTS & ENTERTAINMENT LIMITED	Director	25/01/2005	25/01/2005	-	Active	NO
16	U55101WB1964PTC026234	RUTT DEEN PVT LTD	Director	22/05/2006	22/05/2006	31/05/2014	Active	NO
17	U27109OR1992PTC003046	PAWANSUT SPONGE PRIVATE LIMITED	Director	22/03/2007	22/03/2007	-	Amalgamated	NO
18	U15412WB1982PTC035374	BAKEFRESH BISCUITS PRIVATE LIMITED	Director	05/05/2007	05/05/2007	14/05/2008	Active	NO
19	L27201WB1961PLC025269	INDO AMERICAN ELECTRICALS LTD	Director	30/09/2013	27/07/2007	-	Active	NO
20	U63040WB2007PTC117887	SPS TOURS & HOTELS PRIVATE LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO
21	U17119WB1995PLC180759	SURAJ FABRICS INDUSTRIES LIMITED	Director	29/09/2007	28/08/2007	-	Active	NO
22	U51109WB1996PTC082061	AFTEK TRADERS PRIVATE LIMITED	Director	20/07/2012	26/02/2008	01/01/2013	Active	NO
23	U45400WB2008PTC125370	SUMEDHA PROJECTS PRIVATE LIMITED.	Director	02/05/2008	02/05/2008	06/12/2012	Active	NO
24	U80302WB2008PTC125484	INKNOWERSITY EDUCATION Private Limited	Director	08/05/2008	08/05/2008	26/03/2014	Active	NO
25	U74920OR1999PTC005980	DARKS SECURITY CONSULTANT PRIVATE LIMITED	Director	30/09/2009	03/03/2009	30/06/2014	Active	NO
26	U40300WB2010PTC150517	SPS SYNERGY SOLAR Private Limited	Director	17/06/2010	17/06/2010	28/03/2014	Active	NO
27	U70109WB2006PTC165835	FABWORTH PROMOTERS PRIVATE LIMITED	Director	19/08/2010	19/08/2010	02/05/2013	Active	NO
28	U27100WB2011PLC158285	SPS ISPAT & POWER LIMITED	Director	31/07/2012	01/02/2011	-	Active	NO
29	U61200WB2011PLC160729	SPS SHIPPING LIMITED	Director	14/09/2012	15/03/2011	-	Active	NO
30	U52190WB2010PTC145359	AADIDEVAH VINCOM PRIVATE LIMITED	Director	16/06/2011	16/06/2011	09/04/2013	Active	NO
31	U51900WB1985PTC132208	ROLEX COMMERCIAL COMPANY Private Limited	Director	16/06/2011	16/06/2011	-	Active	NO
32	U65910WB1997PTC129992	SAMSKAR FINANCIAL SERVICES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	12/12/2012	Active	NO
33	U52100WB2010PTC147651	EKAATMAA SALES PRIVATE LIMITED	Director	16/06/2011	16/06/2011	09/04/2013	Active	NO
34	U70100WB2010PTC140824	SOUTH CITY BELAIR PROPERTY MANAGEMENT PRIVATE LIMITED	Director	28/09/2012	18/07/2011	31/07/2014	Active	NO
35	U55101OR1980PLC000874	ASHOKA INDUSTRIES LIMITED	Director	30/09/2011	06/09/2011	13/11/2012	Active	NO
36	U45400WB2011PTC168329	HIGHLIFE REALCON PRIVATE LIMITED	Director	02/12/2011	02/12/2011	24/03/2014	Active	NO
37	U27109WB2006PTC111779	SHRIRAMRATHI STEELS PRIVATE LIMITED	Director	21/03/2012	21/03/2012	-	Active	NO
38	U72900WB2003PTC096955	JAI BALAJI INFOTECH PRIVATE LIMITED	Additional director	06/06/2012	06/06/2012	16/09/2013	Active	NO
39	U52100WB2010PTC145874	BALAPRADA TRACOM PRIVATE LIMITED	Director	07/01/2013	07/01/2013	-	Active	NO
40	U52190WB2010PTC145370	AARYA VINTRADE PRIVATE LIMITED	Director	07/01/2013	07/01/2013	-	Active	NO
41	U74900WB2013PTC190486	VERIDIAN RESORTS & CLUB PRIVATE LIMITED	Director	11/02/2013	11/02/2013	-	Active	NO

Name :

Sudesh Kumar Agarwal

Designation :

Director

Address :

Bg 42, Salt Lake, 2nd Floor, Sector II, Kolkata - 700091, West Bengal, India

Date of Birth/Age :

13.05.1960

Date of Appointment :

29.09.2014

DIN No.:

00635943

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	U70109WB1991PTC051350	TANUSH REALTY PRIVATE LIMITED	Director	21/12/2003	21/12/2003	06/07/2011	Active	NO
2	L51909WB1981PLC034409	SPS STEELS ROLLING MILLS LIMITED	Whole-time director	01/04/2012	31/07/2009	-	Active	NO
3	U51909WB2011PTC164422	VIRTUOSO IMPEX PRIVATE LIMITED	Director	30/09/2013	27/08/2013	-	Active	NO
4	U01403WB2011PTC164174	VIRTUOSO AGRO PRIVATE LIMITED	Director	30/09/2013	27/08/2013	-	Active	NO
5	U27104WB1990PLC049475	S P S METAL CAST & ALLOYS LIMITED	Director	29/09/2014	25/11/2013	-	Active	NO

KEY EXECUTIVES

Name :	Anindita Upadhyay
Designation :	Secretary
Address :	Nirmala Villa, Fatakgora, Station Road,, Chandannagar, Hooghly (W.B), Kolkata - 712136, West Bengal, India
Date of Birth/Age :	25.6.1985
Date of Appointment :	01.12.2014
PAN No:	ABMPU2989B

MAJOR SHAREHOLDERS

AS ON 29.09.2014

Names of Shareholders	No. of Shares
SPS Steels Rolling Mills Limited, India	15000
Bipin Kumar Vohra	1049000
Arjun Kumar Santhalia	150000
Darks Security Consultant Private Limited, India	300000
Techmart Broking Company Private Limited, India	1752600
Cheksons Broking Company Private Limited, India	1650000
SPS Arts & Entertainments Limited, India	1385300
Sumedha Projects Private Limited , India	1613500
Neeraj Estate Private Limited, India	1740000
TT Rail Links Limited, India	1610000
Sanjukta Vohra	100
Total	11265500

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2014

Category	Percentage
Bodies corporate	89.36
Directors or relatives of Directors	10.64
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the manufacturer of iron and steel and related products. [Registered Activity]
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	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 :

• Indian Overseas Bank, India Exchange Place Branch, P-35, India Exchange Place, Kolkata - 700001, West Bengal, India
• HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loans from banks	688.896	37.355
SHORT TERM BORROWING
Working capital loans from banks	13.580	409.279
Total	702.476	446.634

Auditors :
Name :	D.N. Gupta and Associates Chartered Accountant
Address :	10 Ganesh Chandra Avenue 5^th Floor, Kolkata - 700013, West Bengal, India
PAN N Income-tax PAN of auditor or auditor's firm :	ADLPG2924M
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Aftek Traders Private Limited Bengal India Global Infrastructure Limited Bengal Recyclers and Fabricators Private Limited Cheksons Broking Company Private.Limited. Darks Security Consultant Private Limited Indo American Electricals Limited Neeraj Estates Private Limited Shriramrathi Steels Private Limited SPS Arts and Entertainment Limited SPS Ispat and Power Limited IQ City Infrastructure Private Limited SPS Mortex Ferro Alloys Limited SPS Shipping Limited SPS Steels Limited SPS Steels Rolling Mills Limited SPS Synergy Foundation Suraj Fabrics Industries Limited Techmart Broking Company Private Limited.

CAPITAL STRUCTURE

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
13000000	Equity Shares	Rs.10/- each	Rs. 130.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11265500	Equity Shares	Rs.10/- each	Rs. 112.655 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	112.655	112.655	112.655
(b) Reserves & Surplus	(635.648)	(200.810)	188.337
(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)	(522.993)	(88.155)	300.992
(3) Non-Current Liabilities
(a) long-term borrowings	701.439	96.898	258.672
(b) Deferred tax liabilities (Net)	0.000	7.364	14.252
(c) Other long term liabilities	0.000	17.969	35.211
(d) long-term provisions	1.880	1.604	1.365
Total Non-current Liabilities (3)	703.319	123.835	309.500
(4) Current Liabilities
(a) Short term borrowings	13.580	409.279	404.719
(b) Trade payables	1548.203	1424.920	627.787
(c) Other current liabilities	49.040	65.222	46.020
(d) Short-term provisions	0.236	0.169	0.323
Total Current Liabilities (4)	1611.059	1899.590	1078.849
TOTAL	1791.385	1935.270	1689.341
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	172.935	163.063	178.735
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.774	0.774	0.766
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	173.709	163.837	179.501
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	264.163	359.056	424.616
(c) Trade receivables	1293.688	1236.849	990.241
(d) Cash and cash equivalents	5.627	51.279	40.814
(e) Short-term loans and advances	54.198	124.249	54.169
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1617.676	1771.433	1509.840
TOTAL	1791.385	1935.270	1689.341

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1164.930	3551.927	4499.190
	Other Income	2.826	51.643	3.094
	TOTAL	1167.756	3603.570	4502.284
Less	EXPENSES
	Cost of Materials Consumed	901.618	835.719	600.427
	Purchases of Stock-in-Trade	228.579	2555.124	3823.552
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(1.618)	70.561	(236.038)
	Employees benefits expense	9.761	8.770	21.814
	Other expenses	368.576	286.370	0.000
	Prior period items	0.193	0.750	0.000
	Exceptional items	0.000	79.985	204.831
	TOTAL	1507.109	3837.279	4414.586
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(339.353)	(233.709)	87.698
Less	FINANCIAL EXPENSES	86.706	139.797	70.524
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION	(426.059)	(373.506)	17.174
Less/ Add	DEPRECIATION/ AMORTISATION	16.142	15.725	15.755
	PROFIT/ (LOSS) BEFORE TAX	(442.201)	(389.231)	1.419
Less	TAX	(7.364)	(6.624)	0.662
	PROFIT/ (LOSS) AFTER TAX	(434.837)	(382.607)	0.757
	Earnings Per Share (Rs.)	(38.60)	(33.96)	0.07

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(109.665)	323.238	(121.019)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(37.33)	(10.77)	0.02
Operating Profit Margin (PBIDT/Sales)	(%)	(29.13)	(6.58)	1.95
Return on Total Assets (PBT/Total Assets}	(%)	(24.68)	(20.11)	0.08
Return on Investment (ROI) (PBT/Networth)		0.85	4.42	0.00
Debt Equity Ratio (Total Debt /Networth)		(1.37)	(5.74)	2.20
Current Ratio (Current Asset/Current Liability)		1.00	0.93	1.40

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	112.655	112.655	112.655
Reserves & Surplus	188.337	(200.810)	(635.648)
Net worth	300.992	(88.155)	(522.993)
long-term borrowings	258.672	96.898	701.439
Short term borrowings	404.719	409.279	13.580
Total borrowings	663.391	506.177	715.019
Debt/Equity ratio	2.204	(5.742)	(1.367)

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	4499.190	3551.927	1164.930
		(21.054)	(67.203)

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	4499.190	3551.927	1164.930
Profit	0.757	(382.607)	(434.837)
	0.02%	(10.77%)	(37.33%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
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 from 68A, Ballygunge Circular Road, Beckbagan, Kolkata – 700019, West Bengal, India to the present address w.e.f. 18.05.2011.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Other loans and advances	12.543	59.543
Total	12.543	59.543

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10501749	24/03/2014	533,400,000.00	State Bank of India	SME Branch, Durgapur, City Centre, District Burdwan, Durgapur, West Bengal - 713216, INDIA	C03686177
2	10346591	30/12/2013 *	1,104,200,000.00	Indian Overseas Bank	INDIA EXCHANGE PLACE BRANCH, P-35, INDIA EXCHANGE PLACE, KOLKATA, West Bengal - 700001, INDIA	B93697720
3	10196357	04/12/2009	2,894,880.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	A77319028
4	10196359	04/12/2009	2,171,284.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	A77319739
5	90250334	25/03/1999	110,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA	IDBI TOWER; WTC COMPLEX, CUFFE PARADE; COLABA, MUMBAI, Maharashtra - 400005, INDIA	-
6	90250217	30/12/2013 *	825,800,000.00	Indian Overseas Bank	INDIA EXCHANGE PLACE BRANCH, P-35, INDIA EXCHANGE PLACE, KOLKATA, West Bengal - 700001, INDIA	B93696334
7	90250093	08/06/1995	23,500,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRNACH, 1;1; DR. U.N. BRAHMACHARI, CALCUTTA, West Bengal - 700017, INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixture
• Vehicles
• Office Equipment
• Computer Equipment

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. 66.30
UK Pound	1	Rs. 98.71
Euro	1	Rs. 72.33

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	---
--CREDIT LINES	1~10	---
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		14

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.