MIRA INFORM REPORT

Report No. :	355649
Report Date :	24.12.2015

IDENTIFICATION DETAILS

Name :	BRG IRON AND STEEL COMPANY PRIVATE LIMITED
Registered Office :	Godrej Waterside, Suit No. 402-403-404, Plot No. 5, Sector 5, Salt Lake City, Kolkata-700091, West Bengal
Tel. No.:	91-33-40162300 / 66051400
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	12.12.2002
Com. Reg. No.:	21-095499
Capital Investment / Paid-up Capital :	Rs.3634.155 Million
CIN No.: [Company Identification No.]	U27101WB2002PTC095499
IEC No.:	0205007660
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCB2175L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Sponge Iron, Ferro Manganese, Silica Manganese, Stainless Steel Slabs. (Confirmed by management)
No. of Employees :	2000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Exist
Comments :	Subject was incorporated in Dec 2002 by Kolkata-based BRG group. The company in engaged into manufacturing and exporting of sponge iron, Ferro manganese and silica manganese etc. The company possesses weak operational performance and it has incurred losses from its operational activities. Rating remain constrained by the weak financial performance of the company during FY13 to FY15 leading to stresses liquidity position. Consequently, the company filed an application for Corporate Debt Restructure (CDR) through its lead banks before the CDR cell during 2013-14. The Empowered Group of Corporate Debt Restructuring cell (CDR-EG) has approved the final restructuring package of the company on 23^rd July 2014. The rating also factors in intense competition in the industry, profitability susceptible to volatility in raw material prices, working capital intensive nature of operations and cyclicality associated with the steel industry. However, the above constraints are partially offset by rich business experience of the group and semi integrated nature of operations. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealing with great cautions.

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	Inadequate-credit-quality and high credit risk.
Date	August 24, 2015

Rating Agency Name	CARE
Rating	Short term Bank Facilities = A4
Rating Explanation	Minimal degree of safety and 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 PARTED BY

Name :	Mr. Ashish
Designation :	Finance Officer
Contact No.:	91-33-66051400
Date :	22.12.1015

LOCATIONS

Registered Office /Factory:	Godrej Waterside, Suit No. 402-403-404, Plot No. 5, Sector 5, Salt Lake City, Kolkata-700091, West Bengal
Tel. No.:	91-33-40162300 / 66051400 / 1500 / 1600
Fax No.:	91-33-40162350 / 66051700 / 22893195
E-Mail :	cosecbrg@brggroup.in brg@brggroup.in Kolkata_ito-w3-3@incometax.gov.in
Website :	http://www.brggroup.in
Factory :	NH-42, Village Kuranti, PO Moutunga, Dist. Dhenkanal-759122, Orissa, India
Tel. No.:	91-67632-212198 / 212198
Fax No.:	6732 - 212197

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 :

12.12.2002

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 :

12.12.2002

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 :

12.12.2002

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 :

Director

Address :

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

Date of Birth/Age :

02.12.1973

Date of Appointment :

06.02.2010

DIN No.:

00276140

KEY EXECUTIVES

Name :	Ms. Bina Bhageria
Designation :	Secretary
Address :	2A/18, Shantinagar Housing Colony, Liluah, Howrah, Kolkata - 711204, West Bengal, India
Date of Appointment :	04.08.2014
PAN No.:	BZAPB1718C
Name :	Mr. Ashish
Designation :	Finance Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2015

Names of Shareholders	No. of Shares
Anjani Kumar Goyal	8544210
Vijay Kumar Goyal	522500
Jai Kumar Goyal	585000
Himanshu Goyal	1568750
Babu Ram Goyal	91250
Babu Ram Goyal (Karta)	30750
Evika Vincom Private Limited, India	34429183
Ledo Vyapaar Private Limited, India	35430881
Modsna Tie-Up Private Limited, India	28816450
Pafco Laboratories Limited, India	36034187
RCD Trading Private Limited	8442500
Sita Goyal	68000
Sandeep Goyal	11628908
Ashdil Trading Company Private Limited, India	15378914
Advin Fiscal Services Private Limited, India	21230800
Allwoth Merchandise Private Limited	2028094
Sunrise Merchandise Private Limited	3453333
Ravion Commodities Private Limited	22043500
Cynosure Traccon Private Limited	5725000
Anudeep Consultants Private Limited	20136598
Aarpee Commercial Private Limited	14673333
Yuken Merchandise Private Limited	13380000
Shree Securities Limited	30546667
Wellman Sales Private Limited	393333
Jap Merchants Limited	27566667
Logan Impex Private Limited	7400000
Mangalam Industrial Finance Limited	2000000
Nexcare Agency Private Limited	3466666
Bills Dealcom Private Limited	7800000
Total	363415474

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	93.50
Directors or relatives of Directors	6.50
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Sponge Iron, Ferro Manganese, Silica Manganese, Stainless Steel Slabs. (Confirmed by management)

Products :

• Sponge Iron
• Ferro Manganese
• Silica Manganese
• Stainless Steel Slabs

Item Code No.	Product Description
72071929	Mild and Stanless Steel Item

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Countries :

• Russia
• UK
• European Country
• Iran
• USA

Imports :

Products :

Raw Material

Countries :

• Srilanka
• China
• Taiwan
• South Africa
• European Country etc.

Terms :

Selling :

Cheque and Credit

Purchasing :

Cheque and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

Wholesalers, End Users and OEM’s

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 :

2000 (Approximately)

Bankers :

• UCO Bank (Lead Bank), Flagship Corporate Branch, 3, N. S. Road, Kolkata - 700001, West Bengal, India

• Indian Bank (Lead Bank), Strand Road Branch, 3A, Hare Street, Kolkata - 700001, West Bengal, India

• Syndicate Bank, Barabazar Branch, 132/1, Mahatma Gandhi Road, Kolkata - 700007, West Bengal, India

• Tamilnad Mercantile Bank Limited, 58 D, N.S. Road, 2nd Floor, Kolkata - 700007, West Bengal, India

• Central Bank of India, Corporate Finance Branch, Kolkata, 33, Netaji Subhas Road, Kolkata, West Bengal - 700001, India

• Dena Bank, Brabourne Road Branch, 16A, Brabourne Road, Kolkata - 700001, West Bengal, India

• State Bank of Bikaner and Jaipur, Park Street Branch, 20B, Park Street, Kolkata - 700016, West Bengal, India

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Term loans from banks	11997.454	4705.268
Loans taken for other fixed assets	104.444	141.610
(Loans against Vehicles are secured by way of hypothecation of respective equipments /vehicles. The loans carries interest in the range of 12.50% to 15.45% per annum.)
Short-term borrowings
Working capital loans from banks	7609.507	12355.663
Total	19711.405	17202.541

Financial Institutions :	International Asset Reconstruction Company Private Limited, 709, 7^th Floor, Ansal Bhawan, 16, Kastruba Gandhi Marg, New Delhi – 110001, India
Auditors :
Name :	S. Poddar and Company Chartered Accountants
Address :	Todi Chambr, 2, Lalbazar Street, 2^nd Floor, Kolkata-700001, West Bengal, India
PAN N Income-tax PAN of auditor or auditor's firm :	AATFS2603N
Memberships :	Not Available
Collaborators :	Not Available
Sister Cocern :	Integrated Engineering Solution Private Limited
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Shyam Ferro Alloys Limited., India U27109WB1995PLC071548 Ashdil Trading Company Private Limited, India U51109WB1994PTC063125 Evika Vincom Private Limited, India U51109WB1994PTC064288 Ledo Vyapaar Private Limited, India U51909WB1994PTC062493 Modsna Tie Up Private Limited, India U51109WB1994PTC063491 Rabirun Vinimay Private Limited. U51109WB1995PTC068654 Bhuvee Stenovate Private Limited, India U27100WB2007PTC120297 Advin Fiscal Services Private Limited., India U74120WB1994PTC061528 Pafco Laboratories Limited, India U74220WB1992PLC054631

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount
370000000	Equity Shares	Rs.10/- each	Rs.3700.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
363415500	Equity Shares	Rs.10/- each	Rs.3634.155 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	3634.155	3142.238	2455.705
(b) Reserves & Surplus	68.556	1416.053	4182.921
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	606.500	1010.000
Total Shareholders’ Funds (1) + (2)	3702.711	5164.791	7648.626
(3) Non-Current Liabilities
(a) long-term borrowings	12101.898	4846.878	2671.253
(b) Deferred tax liabilities (Net)	0.000	0.000	355.968
(c) Other long term liabilities	613.536	178.599	1478.083
(d) long-term provisions	18.322	12.252	10.231
Total Non-current Liabilities (3)	12733.756	5037.729	4515.535
(4) Current Liabilities
(a) Short term borrowings	7609.507	12355.663	6023.766
(b) Trade payables	3010.194	1542.811	6331.937
(c) Other current liabilities	2281.595	892.395	2912.238
(d) Short-term provisions	3.413	79.621	79.401
Total Current Liabilities (4)	12904.709	14870.490	15347.342
TOTAL	29341.176	25073.010	27511.503
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	8875.319	9369.000	10776.527
(ii) Intangible Assets	0.679	47.606	94.520
(iii) Capital work-in-progress	466.584	620.378	237.235
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	1.978	1.978
(c) Deferred tax assets (net)	1484.005	1237.868	0.000
(d) Long-term Loan and Advances	397.768	309.100	309.136
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	11224.355	11585.930	11419.396
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	14141.926	11096.504	11611.734
(c) Trade receivables	2615.314	1327.165	1928.038
(d) Cash and cash equivalents	217.078	271.201	927.860
(e) Short-term loans and advances	1125.381	751.250	1527.906
(f) Other current assets	17.122	40.960	96.569
Total Current Assets	18116.821	13487.080	16092.107
TOTAL	29341.176	25073.010	27511.503

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Revenue from Operation	11699.467	11017.833	24732.467
	Other Income	25.983	55.184	77.861
	TOTAL	11725.450	11073.017	24810.328
Less	TOTAL EXPENSES	13563.169	15776.988	24763.737
	PROFIT/ (LOSS) BEFORE TAX	(1837.719)	(4703.971)	46.591
Less	TAX	(246.136)	(1593.836)	85.379
	PROFIT/ (LOSS) AFTER TAX	(1591.583)	(3110.135)	(38.788)
	Earnings / (Loss) Per Share (Rs.)	(4.38)	(8.56)	(0.11)

Expected Sales (2015-2016) : Rs.15000.000 Million

The above information has been parted by Mr. Ashish (Finance Officer).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	628.842	2.760	NA
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(2757.414)	(7948.766)	871.312
Net cash flow from operating activity	(785.410)	(6292.301)	2198.009

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(13.60)	(28.23)	(0.16)
Return on Total Assets (PBT/Total Assets}	(%)	(6.71)	(20.26)	0.17
Return on Investment (ROI) (PBT/Networth)		(0.50)	(0.91)	0.01
Debt Equity Ratio (Total Debt /Networth)		5.32	3.33	1.14
Current Ratio (Current Asset/Current Liability)		1.40	0.91	1.05

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	2455.705	3142.238	3634.155
Reserves & Surplus	4182.921	1416.053	68.556
Share Application money pending allotment	1010.000	606.500	0.000
Net worth	7648.626	5164.791	3702.711
long-term borrowings	2671.253	4846.878	12101.898
Short term borrowings	6023.766	12355.663	7609.507
Total borrowings	8695.019	17202.541	19711.405
Debt/Equity ratio	1.137	3.331	5.324

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	24732.467	11017.833	11699.467
		(55.452)	6.187

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	24732.467	11017.833	11699.467
Profit	(38.788)	(3110.135)	(1591.583)
	(0.16%)	(28.23%)	(13.60%)

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	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	Yes
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	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS

HIGH COURT OF CALCUTTA – ORIGINAL SIDE

CASE STATUS INFORMATION SYSTEM

CASE STATUS:	PENDING
STATUS OF:	COMPANY PETITIONS (CP) 598 OF 2014
Litigation :	RE NOVATECH PROJECTS (INDIA) PRIVATE LIMITED VS. M/S BRG IRON AND STEEL COMPANY PRIVATE LIMITED
PET’S ADV.:	DEBASISH SUR
RES’S ADV.:	--
Last Date of Hearing:	Monday, August 18, 2014
Next / Final Date of Hearing :	TUESDAY, AUGUST 19, 2014
Case Updates on :	Thursday, August 14, 2014
CATEGORY:	--

CONNECTED APPLICATION (S)	CONNECTED MATTER (S)
NO CONNECTED APPLICATIONS	NO CONNECTED CASES

CASE UPDATED ON: THURSDAY, AUGUST 14, 2014

SUMMARY OF OPERATIONS

During the year, the net revenue from operations of the Company increased from Rs. 11073.017 Million to Rs. 11725.450 Million for F Y 2014-15. The Company’s loss reduced by the tune of Rs. 1518.552 Million.

OUTLOOK

In order to meet the challenges for the future, the company is working in various directions, so that it is possible for the company to achieve Company’s goal and starts to earn profit.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10519565	10/09/2014	24,604,700,000.00	Indian Bank	Strand Road Branch, 3A, Hare Street, Kolkata, West Bengal - 700001, INDIA	C20287421
2	10516328	30/06/2014	3,398,800,000.00	STATE BANK OF HYDERABAD	Park Street Branch, 113, Park Street,, Kolkata, West Bengal - 700016, INDIA	C17741257
3	10501684	31/03/2014	100,000,000.00	CORPORATION BANK	Dharmatalla Branch, 8, Lenin Sarani, Kolkata, West Bengal - 700013, INDIA	C05983739
4	10478307	02/07/2014 *	2,139,700,000.00	Indian Bank	Strand Road Branch, 3A, Hare Street, Kolkata, Wes  t Bengal - 700001, INDIA	C17902420
5	10426358	29/11/2014 *	24,604,800,000.00	UCO BANK (Lead Bank)	Flagship Corporate Branch, 2, India Exchange Place, Kolkata, West Bengal - 700001, INDIA	C35940337
6	10416382	29/05/2013 *	2,000,000,000.00	INDIAN BANK (LEAD BANK)	Strand Road Branch,, 3A, Hare Street, Kolkata, West Bengal - 700001, INDIA	B78458056
7	10391546	15/11/2012	500,000,000.00	SYNDICATE BANK	Barabazar Branch, 132/1, Mahatma Gandhi Road, Kolkata, West Bengal - 700007, INDIA	B63957492
8	10379889	21/09/2012	1,340,000,000.00	Tamilnad Mercantile Bank Ltd	58D, N.S. Road, 2nd Floor,, Kolkata, West Bengal -  700007, INDIA	B59442541
9	10371799	23/07/2012	1,000,000,000.00	CENTRAL BANK OF INDIA	Corporate Finance Branch, Kolkata, 33, Netaji Subhas Road, Kolkata, West Bengal - 700001, INDIA	B56114507
10	10322978	12/12/2011	1,455,400,000.00	DENA BANK	BRABOURNE ROAD BRANCH, 16A, BRABOURNE ROAD, KOLKATA, West Bengal - 700001, INDIA	B27812486

FIXED ASSETS

• Land
• Buildings
• Office building
• Factory building
• Factory building
• Factory equipments
• Furniture and fixtures
• Vehicles
• Motor vehicles
• Computer equipments

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.66.29
UK Pound	1	Rs.98.70
Euro	1	Rs.72.33

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KAR
Report Prepared by :	SUJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.