MIRA INFORM REPORT

Report No. :	307493
Report Date :	10.02.2015

IDENTIFICATION DETAILS

Name :	NLMK INDIA SERVICE CENTRE PRIVATE LIMITED (w.e.f 24.05.2012)

Formerly known as :	NIPPON TRANSCORE PRIVATE LIMITED

Registered Office :	Plot No. L-9, MIDC, Taloja Industrial Area, Mumbai – 410208, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	22.07.1992

Com. Reg. No.:	11-067818

Capital Investment / Paid-up Capital :	Rs. 5.086 Millions

CIN No.: [Company Identification No.]	U31101MH1992PTC067818

IEC No.:	0311067964

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAACN1328B

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Steel.

No. of Employees :	250 (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 but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate operational risk profile and losses that company has incurred operational activities. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Sundresh Kumar
Designation :	Senior Manager – Finance and Accounts
Contact No.:	91-11-42032200
Date :	10.02.2015

LOCATIONS

Registered Office / Warehouse / Factory 1:	Plot No. L-9, MIDC, Taloja Industrial Area, Mumbai – 410208, Maharashtra, India
Tel. No.:	91-22-27410053
Fax No.:	91-11-27411039
E-Mail :	Sundresh.kumar@in.nlmk.com
Website :	http://nlmkindia.com
Area :	5850 Sq.mtr.

Corporate Office :	Unit No 302, A Rasvilas Saket, District Centre Saket, New Delhi – 110017, India
Tel. No.:	91-11-42032200
Fax No.:	91-11-42032201

Service Center / Factory 2 :	Plot No. H/1-2 and G-3, Mahatma Gandhi Udyog Nagar Industrial Estate, Dabhel, Nani Daman – 396210, Daman, India
Tel. No.:	91 2602241495
Fax No.:	91 2602241494

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Nitin Kumar Gupta

Designation :

Director

Address :

R-3, Majithia Enclave, Patiala – 147001, Punjab, India

Date of Birth/Age :

24.09.1980

Date of Appointment :

30.12.2011

DIN No.:

02929430

Other Directorship:

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

U93030MH2011NPL212930

TOOLBOX INDIA FOUNDATION

Director

02/02/2011

26/11/2012

Active

U31101MH1992PTC067818

NLMK INDIA SERVICE CENTER PRIVATE LIMITED

Director

30/12/2011

04/10/2011

Active

Name :

Paolo Stampfli

Designation :

Director

Address :

Via Madonna Della Salute N 18, Messagno – 6900

Date of Birth/Age :

23.08.1976

Date of Appointment :

30.12.2011

DIN No.:

03632492

KEY EXECUTIVE

Name :	Mr. Sundresh Kumar
Designation :	Senior Manager – Finance and Accounts

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders		No. of Shares
NLMK International BV, Netherlands		50756
Novex Trading (Swizz) SA, Switzerland		100

TOTAL		50856

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

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	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Steel.

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :
Products :	Steel
Countries :	Korea UAE

Imports :
Products :	Raw Material
Countries :	Netherland Switzerland Belgium Italy Singapore

Terms :
Selling :	Cash

Purchasing :	Cash

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

NLMK International BV, Netherland
NLMK Trading (Swiss) SA, Switzerland

Customers :

Aditya Vidyut Appliances Limited
Kerala Electrical and Allied Engineering Company Limited

No. of Employees :

250 (Approximately)

Bankers :

Banker Name	Axis Bank
Branch Address	Paschim Vihar, New Delhi, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Banker Name	Citi Bank
Branch Address	South Extension Branch
Person Name (With Designation)	Mr. Varun (RM)
Contact Number	91-9891056959
Name of Account Holder	NLMK India Service Centre Private Limited
Account Number	Not Available
Account Since (Date/Year of Account Opening)	1.5 Years
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Current Account
Remarks (If any)	Healthy transaction, very professional company. No complaints about their banking transactions.

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	7^th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase II, Gurgoan-122002, Haryana, India
Tel. No.:	91-124-6792000
Fax No.:	91-124-6792012
PAN No:	AABFD2095B

Memberships :	Not Available

Collaborators :	Not Available

Holding Company :	NLMK International B.V., Netherlands

Fellow Subsidiaries :	Novex Trading (Swiss) SA, Switzerland NLMK Sales Europe SA, Belgium NLMK Verona SPA, Italy NLMK Singapore Sales Private Limited, Singapore

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5000000	Equity Shares	Rs.100/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

50856	Equity Shares	Rs.100/- each	Rs. 5.086 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	5.086	5.086	3.748
(b) Reserves & Surplus	579.255	667.330	348.688
(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)	584.341	672.416	352.436

(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.406	1.015	0.000
Total Non-current Liabilities (3)	2.406	1.015	0.000

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2089.142	1088.924	0.983
(c) Other current liabilities	22.329	10.675	0.315
(d) Short-term provisions	0.017	0.023	0.050
Total Current Liabilities (4)	2111.488	1099.622	1.348

TOTAL	2698.235	1773.053	353.784

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	276.081	287.091	294.532
(ii) Intangible Assets	0.271	0.327	0.042
(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	8.091	4.702	0.289
(e) Other Non-current assets	0.027	0.027	0.025
Total Non-Current Assets	284.470	292.147	294.888

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	745.949	587.371	0.000
(c) Trade receivables	1470.335	497.966	0.000
(d) Cash and cash equivalents	112.611	315.474	0.000
(e) Short-term loans and advances	84.761	78.335	49.544
(f) Other current assets	0.109	1.760	9.352
Total Current Assets	2413.765	1480.906	58.896

TOTAL	2698.235	1773.053	353.784

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		626.020	0.000
		Other Income		17.574	13.120
		TOTAL	2688.418	643.594	13.120

Less	EXPENSES
		Cost of Materials Consumed		457.240	0.000
		Purchases of Stock-in-Trade		510.576	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		24.880	0.542
		Employees benefits expense		44.579	8.396
		Other expenses		(341.448)	0.000
		TOTAL	2776.493	695.827	8.938

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			(52.233)	4.182

Less	FINANCIAL EXPENSES		NA	0.677	0.052

	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION			(52.910)	4.130

Less/ Add	DEPRECIATION/ AMORTISATION			13.423	2.590

	PROFIT/ (LOSS) BEFORE TAX		(88.075)	(66.333)	1.540

Less	TAX		0.000	0.000	(0.225)

	PROFIT/ (LOSS) AFTER TAX		(88.075)	(66.333)	1.765

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(74.307)	(7.974)	(9.739)

	BALANCE CARRIED TO THE B/S		(162.382)	(74.307)	(7.974)

	EARNINGS IN FOREIGN CURRENCY		23.565	9.322	0.000

	IMPORTS
		Raw Materials - CRGO Steel Coils	NA	518.213	0.000
		Stock in Trade [acquired for trading] - CRGO Steel Coils	NA	495.987	0.000
		- Steel Plates	NA	110.691	0.000
	TOTAL IMPORTS		NA	1124.891	0.000

	Earnings Per Share (Rs.)		(1731.85)	(1304.33)	34.71

Expected Sales ( 2014-2015 ) : Rs.5000.000 Millions

The above information has been parted by Mr. Sundresh Kumar.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	NA	(377.45)	NA

Operating Profit Margin (PBDIT / Sales)	(%)	NA	(3859.41)	NA

Return on Total Assets (PBT/Total Assets}	(%)	(3.26)	(3.74)	0.44

Return on Investment (ROI) (PBT/Networth)		(0.15)	(0.10)	0.00

Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00

Current Ratio (Current Asset/Current Liability)		1.14	1.35	43.69

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	3.748	5.086	5.086
Reserves & Surplus	348.688	667.330	579.255
Net worth	352.436	672.416	584.341

long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	13.120	643.594	2688.418
		4,805.442	317.720

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	13.120	643.594	2688.418
Profit	1.765	(66.333)	(88.075)
	13.45%	(10.31)%	(3.28)%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	------
22]	Litigations that the firm / promoter involved in	-------
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	------
26]	Buyer visit details	------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE:

Registered office of the company has been shifted from C/1-5, Shopping Centrem G Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India to the present address w.e.f 15.12.2011.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

TANGIBLE ASSETS

Leasehold Land
Factory Building
Plant and Equipment
Office Equipment
Computers

TANGIBLE ASSETS

Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.14
UK Pound	1	Rs.94.79
Euro	1	Rs.70.38

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	KAR

Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--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	NO
--LITIGATION	YES/NO	NO
--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.

MIRA INFORM REPORT

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