MIRA INFORM REPORT

Report No. :	306750
Report Date :	17.02.2015

IDENTIFICATION DETAILS

Name :	S R J PEETY STEELS PRIVATE LIMITED
Registered Office :	D-51/1, Additional, MIDC, Jalna - 431203, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	07.02.1985
Com. Reg. No.:	11-035293
Capital Investment / Paid-up Capital :	Rs.211.300 Millions
CIN No.: [Company Identification No.]	U27300MH1985PTC035293
TAN No.: [Tax Deduction & Collection Account No.]	NSKS06385B
PAN No.: [Permanent Account No.]	AAACT6742M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Steels.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. General financials of the company appears to be fair. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

LOCATIONS

Registered Office/ Factory :	D-51/1, Additional, MIDC, Jalna - 431203, Maharashtra, India
Tel. No.:	91-2482-220474/220441/221304/220408
Fax No.:	91-2842-221306/221474
E-Mail :	devendraring@gmail.com preetyparik@gmail.com

DIRECTORS

As on 09.07.2014

Name :

Mr. Surendrakumar Shantilal Peety

Designation :

Managing Director

Address :

Sharda Kutir, Shanimandir Road, Jalna - 431203, Maharashtra, India

Date of Birth/Age :

06.09.1968

Date of Appointment :

01.10.1991

PAN No.:

AJRPP4860F

DIN No.:

00377146

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	U27300MH1985PTC035293	S R J PEETY STEELS PRIVATE LIMITED	Managing director	01/10/1991	01/10/1991	-	Active	NO
2	U28910MH2009PTC192313	ASTLAXMI RE-ROLLS JALNA PRIVATE LIMITED	Director	11/05/2009	11/05/2009	16/07/2009	Active	NO
3	U27100MH2009PTC195202	KAPILA METALS PRIVATE LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
4	U25190MH2010PTC209943	Real Foam Private Limited	Director	11/11/2010	11/11/2010	-	Active	NO

Name :

Mr. Jitendra Shantilala Peety

Designation :

Additional Director

Address :

Sharda Kutir, Shanimandir Road, Jalna - 431203, Maharashtra, India

Date of Birth/Age :

19.08.1972

Date of Appointment :

05.08.2013

PAN No.:

AJRPP4857A

DIN No.:

00377220

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	U27201MH1994PTC080072	SHREE OM ROLLING MILLS PRIVATE LIMITED	Managing director	15/08/1995	15/08/1995	01/07/2013	Active	NO
2	U25190MH2008PTC184415	CHIRAYU FOAM PRIVATE LIMITED	Director	08/07/2008	08/07/2008	-	Active	NO
3	U27100MH2009PTC195202	KAPILA METALS PRIVATE LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
4	U01403MH2009PTC195267	SHANTIDHAN BIOTECH PRIVATE LIMITED	Director	26/08/2009	26/08/2009	-	Active	NO
5	U27300MH1985PTC035293	S R J PEETY STEELS PRIVATE LIMITED	Director	05/08/2013	01/07/2013	-	Active	NO

Name :

Mr. Ravindrakumar Shantilal Peety

Designation :

Director

Address :

Sharda Kutir, Shanimandir Road, Jalna - 431203, Maharashtra, India

Date of Birth/Age :

28.10.1969

Date of Appointment :

17.03.1990

PAN No.:

AAJHR8689F

DIN No.:

00407888

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	U27300MH1985PTC035293	S R J PEETY STEELS PRIVATE LIMITED	Director	17/03/1990	17/03/1990	-	Active	NO
2	U25190MH2008PTC184415	CHIRAYU FOAM PRIVATE LIMITED	Director	08/07/2008	08/07/2008	18/01/2012	Active	NO
3	U27100MH2009PTC195202	KAPILA METALS PRIVATE LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
4	U25190MH2010PTC209943	Real Foam Private Limited	Director	11/11/2010	11/11/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 09.07.2014

Names of Shareholders	No. of Shares
Shantilal Govardhandas Peety	10940
Mahendrakumar Rameshwar Peety	1255
Shardabai Shantilal Peety	1700
Surendra Shantilal Peety	30766
Ravindrakumar Shantilal Peety	27839
Jitendra Shantilal Peety	10940
Nirmalabai Mahendrakumar Peety	205
Preetibai Ashokkumar Goyal	188
Namrata R. Peety	26207
Varsha Surendra Peety	34993
Rachana Jitendra Peety	10940
Surendra Shantilal Peety HUF	15664
Ravindra Shantilal Peety HUF	28723
Jitendra Shantilal Peety HUF	10940
Total	211300

Equity Share Break up (Percentage of Total Equity)

As on 09.07.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Steels.

Products :

Product Description	ITC Code
MS Billets	72249099
TMT Bars	72249099

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

· The Cosmos Co-operative Bank Limited, New Mondha Road, Jalna Branch, Jalna-431203, Maharashtra, India

· Dena Bank, Jalna Branch, Sarojanidevi Road, Jalna - 431203, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Term loans from banks	241.979	39.436
Working capital loans from banks	116.275	26.411
Short-term borrowings
Term loans from banks	34.321	34.500
Working capital loans from banks	681.238	712.331
Total	1073.813	812.678

Banking Relations :	--
Auditors :
Name :	Krishna Rao and Company Chartered Accountants
Address :	Bezonji Road, Jalna, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFK7647A
Memberships :	--
Collaborators :	--
Associate :	Shree Om Roling Mill (Private) Limited, India (SOM) CIN No.: U27201MH1994PTC080072

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
211500	Equity Shares	Rs.1000/- each	Rs.211.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
211300	Equity Shares	Rs.1000/- each	Rs.211.300 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	211.300	211.300	211.300
(b) Reserves & Surplus	184.996	123.530	89.842
(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)	396.296	334.830	301.142
(3) Non-Current Liabilities
(a) long-term borrowings	358.715	66.926	10.135
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	282.544	288.601	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	641.259	355.527	10.135
(4) Current Liabilities
(a) Short term borrowings	728.996	901.371	652.510
(b) Trade payables	30.854	0.000	77.782
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	56.861	39.918	18.561
Total Current Liabilities (4)	816.711	941.289	748.853
TOTAL	1854.266	1631.646	1060.130
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	404.840	226.532	152.359
(ii) Intangible Assets	36.920	46.150	0.000
(iii) Capital work-in-progress	42.935	129.489	16.173
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	5.780	3.990	3.860
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	39.062	35.374	31.750
Total Non-Current Assets	529.537	441.535	204.142
(2) Current assets
(a) Current investments	23.657	108.976	28.296
(b) Inventories	457.020	278.475	300.097
(c) Trade receivables	634.054	643.908	264.164
(d) Cash and cash equivalents	182.368	125.885	263.431
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	27.630	32.867	0.000
Total Current Assets	1324.729	1190.111	855.988
TOTAL	1854.266	1631.646	1060.130

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Gross Turnover [Including Increase/Decrease in Finished Goods and Other Income]	4422.000	4192.100	3108.300
EXPENSES	4304.200	4132.500	3077.300
PROFIT/(LOSS) BEFORE TAX	117.800	59.600	31.000
TAX	42.400	20.500	10.600
PROFIT/(LOSS) AFTER TAX	75.400	39.200	20.400
Earnings Per Share (Rs.)	365.84	185.52	96.42

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	6.52	3.98	2.98
Return on Investment (ROI) (PBT/Networth)		0.30	0.18	0.10
Debt Equity Ratio (Total Debt /Networth)		2.74	2.89	2.20
Current Ratio (Current Asset/Current Liability)		1.62	1.26	1.14

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	211.300	211.300	211.300
Reserves & Surplus	89.842	123.530	184.996
Net worth	301.142	334.830	396.296
long-term borrowings	10.135	66.926	358.715
Short term borrowings	652.510	901.371	728.996
Total borrowings	662.645	968.297	1087.711
Debt/Equity ratio	2.200	2.892	2.745

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)
Gross Turnover [Including Increase/Decrease in Finished Goods and Other Income]	3108.300	4192.100	4422.000
		34.868	5.484

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Gross Turnover [Including Increase/Decrease in Finished Goods and Other Income]	3108.300	4192.100	4422.000
Profit	20.400	39.200	75.400
	0.66%	0.94%	1.71%

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Deferred sales tax loan	0.461	1.080
Short-term borrowings
Loans and advances from related parties	13.437	154.539
Total	13.898	155.619

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10383067	10/10/2012	120,000,000.00	THE COSMOS CO- OPERATIVE BANK LIMITED	NEW MONDHA ROAD,, JALNA BRANCH, JALNA, MAHARASHTR A - 431203, INDIA	B60729951
2	10264551	08/07/2011 *	18,000,000.00	THE COSMOS CO - OPERATIVE BANK LIMITED	NEW MONDHA ROAD,, JALNA BRANCH, JALNA, MAHARASHTR A - 431203, INDIA	B17666967
3	10176376	26/05/2014 *	1,322,000,000.00	THE COSMOS CO - OPERATIVE BANK LIMITED	NEW MONDHA ROAD,, JALNA BRANCH, JALNA, MAHARASHTR A - 431203, INDIA	C06046072
4	10176769	16/12/2011 *	12,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	NASCENT TOWER, PLOT NO. 15,, BHOKARDAN NAKA ROAD, JALNA, MAHARASHTRA - 431203, INDIA	B29956596
5	10165689	02/06/2009	3,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	A65135881
6	10153378	07/03/2009	1,797,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	A60304649

* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Plant and machinery

· Furniture and Fixture

· Computer

· Vehicles

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.62.20
UK Pound	1	Rs.96.00
Euro	1	Rs.71.00

INFORMATION DETAILS

Analysis Done by :	SUM
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	5
--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		44

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.