MIRA INFORM REPORT

Report No. :	330589
Report Date :	03.07.2015

IDENTIFICATION DETAILS

Name :	BHARAT ALUMINIUM COMPANY LIMITED
Registered Office :	Aluminium Sadan Core-6, Scope Office Complex, 7 Lodhi Road, New Delhi – 110003
Tel. No.:	91-11-24360091 / 24361137 / 24364193 / 24364975
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.11.1965
Com. Reg. No.:	55-004518
Capital Investment / Paid-up Capital :	Rs.2206.200 Million
CIN No.: [Company Identification No.]	U74899DL1965PLC004518
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	JBPB00978F / JBPB01022A
PAN No.: [Permanent Account No.]	AAACB1290N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Aluminium Ingots in Any Form, Wire Rods and Rolled Products.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (60)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Balco is a subsidiary of “Sesa Sterlite Limited”. It is a well-established company having fine track. The company enjoys high financial flexibility as a part of the “Vedanta Group”. Whereas presently the company possess a moderate financial profile marked by an acceptable networth base along with huge deterioration it is cash reserves. Trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments. In view of long track record of operations, healthy market position and extensive experience of promoters, the subject 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 – 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	CRISIL
Rating	Long term rating AA-
Rating Explanation	High degree of safety and very low credit risk.
Date	06.02.2015

Rating Agency Name	CRISIL
Rating	Short term rating A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	06.02.2015

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Atul
Designation :	Sales Department
Contact No.:	91-9819562588
Date :	03.07.2015

LOCATIONS

Registered Office :	Aluminium Sadan Core-6, Scope Office Complex, 7 Lodhi Road, New Delhi – 110003, India
Tel. No.:	91-11-24360091 / 24361137 / 24364193 / 24364975
Mobile No.:	91-9910998225 (Mr. Abhishek Kaushik) 91-9819562588 (Mr. Atul )
Fax No.:	91-11-24320177
E-Mail :	north.aluminium@vedanta.co.in balcolegal@vedanta.co.in atul.gupta@vedanta.com
Website :	http://www.balcoindia.com
Aluminium Export Division :	Solitaire Corporate Park, Business Square, “C” Wing, 2nd Floor, Andheri Kurla Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra, India
Tel. No.:	91-22-66434636 / 66434641 / 66434642
Fax No.:	91-22-66434652
E-Mail :	aluminium.exports@vedanta.co.in
Central Marketing/Factory :	Marketing Department, Utpadan Bhavan, P O Box Chhattisgarh, Balco Nagar, Korba – 495 684, Chhattisgarh, India
Tel. No.:	91-7759-240155 / 240004 / 242213 / 241490
Fax No.:	91-7759-241284 / 242050
E-Mail :	central_mktg.aluminium@vedanta.co.in
Regional Office :
Eastern Regional Office :	Chatterjee International Centre, 20th Floor, 33 A - Jawaharlal Nehru Road, Kolkata – 700071, West Bengal, India
Tel. No.:	91 33-40034402 / 40034401 / 40034405
Fax No.:	91-33-40073278
E-Mail :	east.aluminium@vedanta.co.in
Southern Regional Office :	705, 7th Floor, North Block, Rear Wing, Manipal Centre, Bangalore – 560 001, Karnataka, India
Tel. No.:	91-80-25596001 / 25596000 / 41486189
Fax No.:	91-80-41320595
E-Mail :	south.aluminium@vedanta.co.in
Western Regional Office :	Solitaire Corporate Park, Business Square, “C” Wing, 2nd Floor, Andheri Kurla Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra, India
Tel. No.:	91-22-66434500 / 66434648 / 66434637 / 66434635
Fax No.:	91-22-67105068
E-Mail :	west.aluminium@vedanta.co.in

DIRECTORS

As on 19.06.2014

Name :

Mr. Naresh Kumar

Designation :

Director

Address :

D 63, Nivedita Kunj, Sector 10, R K Puram, New Delhi-110022, Delhi, India

Date of Birth/Age :

18.11.1963

Date of Appointment :

19.06.2013

DIN No.:

03249776

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	U60210DL2010SGC207119	DELHI TRANSPORT INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Additional director	01/09/2010	01/09/2010	20/07/2011	Active	NO
2	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Nominee director	17/08/2012	17/08/2012	06/12/2012	Active	NO
3	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	Director	19/06/2013	10/09/2012	-	Active	NO
4	L27201WB1967GOI028825	HINDUSTAN COPPER LTD	Director	04/12/2012	04/12/2012	28/01/2013	Active	NO
5	U36912MH1978PTC020126	HINDUSTAN DIAMOND COMPANY PRIVATE LIMITED	Nominee director	22/03/2013	22/03/2013	-	Active	NO

Name :

Mr. Tarun Chandmal Jain

Designation :

Director

Address :

411, Akshay Giri Kunj, Pali Ram Road, Opp Andheri (West), Rly Station Andheri (West) Mumbai-400058, Maharashtra, India

Date of Birth/Age :

06.03.1960

Date of Appointment :

02.03.2001

DIN No.:

00006843

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	U13202TZ1960PLC000372	THE MADRAS ALUMINIUM COMPANY LIMITED	Director	18/01/1995	18/01/1995	30/06/2008	Amalgamated	NO
2	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	Director	02/03/2001	02/03/2001	-	Active	NO
3	U27100TN2002PLC068737	STERLITE OPPORTUNITIES AND VENTURES LIMITED	Director	14/01/2002	14/01/2002	-	Amalgamated	NO
4	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Director	11/04/2002	11/04/2002	30/03/2009	Active	NO
5	U63032MH2003PTC142871	LAKECITY VENTURES PRIVATE LIMITED	Director	24/10/2003	24/10/2003	12/03/2009	Active	NO
6	U31300TN2001PLC069645	MALCO Energy Limited	Director	28/01/2004	28/01/2004	25/09/2013	Active	NO
7	L65990TN1975PLC062634	STERLITE INDUSTRIES (INDIA) LIMITED	Whole-time director	24/11/2004	24/11/2004	31/03/2009	Amalgamated	NO
8	U85190CT2008NPL020624	Vedanta Medical Research Foundation	Director	07/04/2008	07/04/2008	-	Active	NO
9	U45203TN1999PLC069177	STERLITE INFRA LIMITED	Director	11/06/2010	29/10/2009	-	Amalgamated	NO
10	U85191MH2011NPL215316	RAJTARU CHARITY FOUNDATION	Director	25/03/2011	25/03/2011	-	Active	NO
11	L11101MH2006PLC163934	Cairn India Limited	Director	23/07/2014	16/12/2011	-	Active	NO
12	L13209GA1965PLC000044	Vedanta Limited	Whole-time director	11/07/2014	01/04/2014	-	Active	NO

Name :

Mr. Kannan Ramamirtham

Designation :

Director

Address :

Karachi Citizens CHS 205-B, New Link Road D.N. Nagar, Andheri (West), Mumbai-400053, Maharashtra, India

Date of Birth/Age :

02.06.1949

Date of Appointment :

19.06.2012

DIN No.:

00227980

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	U67190MH1991PTC061315	IMPERIAL CORPORATE FINANCE AND SERVICES PRIVATE LIMITED	Director	01/04/1994	01/04/1994	21/06/2010	Active	NO
2	U67120MH1995PTC088249	R K CHARI STOCK BROKING PRIVATE LIMITED	Director	21/01/2001	21/01/2001	19/10/2010	Active	NO
3	U67190MH2005PTC157752	ORIONSAYI CONSULTANT PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
4	L27203WB1960PLC024870	INDIA FOILS LTD	Director	30/12/2005	30/12/2005	19/11/2008	Amalgamated	NO
5	U27310TG2005PLC045171	SYNERGIES CASTINGS LIMITED	Additional director	28/03/2007	28/03/2007	01/07/2009	Active	NO
6	U70101KA2006PLC038670	PLAMA DEVELOPERS LIMITED	Director	16/08/2007	16/08/2007	28/03/2010	Active	NO
7	U63032MH2003PTC142871	LAKECITY VENTURES PRIVATE LIMITED	Director	30/09/2008	18/05/2008	-	Active	NO
8	U67190TN1995PLC069644	STERLITE ENERGY LIMITED	Director	10/10/2009	05/10/2009	04/10/2011	Amalgamated	NO
9	L22219MH1987PLC042083	ORIENT PRESS LIMITED	Director	27/09/2014	26/05/2010	-	Active	NO
10	U72200KA2010PTC054617	MentisSoft Solutions Private Limited	Director	29/07/2010	29/07/2010	31/03/2015	Active	NO
11	L24117TN1976PLC007122	Shasun Pharmaceuticals Limited	Director	06/08/2014	30/07/2010	-	Active	NO
12	L31300MH1992PLC067802	RAM RATNA WIRES LIMITED	Director	18/08/2011	28/05/2011	-	Active	NO
13	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	Director	19/06/2012	21/07/2011	-	Active	NO
14	U21090MH2011PTC221690	NEW LEAF EDUCATIONAL PRODUCTS PRIVATE LIMITED	Director	08/09/2011	08/09/2011	-	Active	NO
15	U74140KA1998PTC023423	REALTIME TECHSOLUTIONS PRIVATE LIMITED	Additional director	07/12/2011	07/12/2011	-	Active	NO
16	L65944MH1984PLC031807	SECURE EARTH TECHNOLOGIES LIMITED	Additional director	14/09/2012	14/09/2012	-	Active	NO
17	U45207MH2007PTC173440	PAN INDIA PARYATAN PRIVATE LIMITED	Alternate director	23/10/2013	05/10/2012	03/02/2015	Active	NO
18	U28997MH1995PLC085294	R R KABEL LIMITED	Additional director	09/03/2015	09/03/2015	-	Active	NO
19	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Additional director	11/03/2015	11/03/2015	-	Active	NO
20	U35100TN2010PTC075408	Vizag General Cargo Berth Private Limited	Director	31/03/2015	31/03/2015	-	Active	NO

Name :

Mr. Sushil Kumar Roongta

Designation :

Director

Address :

D - 91, DLF Pinnacle, DLF Phase - V, Opp. DLF Golf Course, Gurgaon-122009, Haryana, India

Date of Birth/Age :

09.05.1950

Date of Appointment :

16.06.2012

DIN No.:

00309302

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	L27109DL1973GOI006454	STEEL AUTHORITY OF INDIA LIMITED	Managing director	05/02/2004	05/02/2004	31/05/2010	Active	NO
2	U10100DL2009PTC190448	INTERNATIONAL COAL VENTURES PRIVATE LIMITED	Director	20/05/2009	20/05/2009	31/05/2010	Active	NO
3	L65110GJ1993PLC020769	Axis Bank Limited	Director	17/06/2011	15/07/2010	20/06/2011	Active	NO
4	L93090TN1956GOI003507	NEYVELI LIGNITE CORPORATION LIMITED	Director	12/09/2011	30/09/2010	30/09/2013	Active	NO
5	L63030MH1950GOI008033	SHIPPING CORPORATION OF INDIA LIMITED	Director	23/09/2011	29/10/2010	29/10/2013	Active	NO
6	L24100UP2007PLC032909	Jubilant Industries Limited	Director	02/09/2014	26/11/2010	-	Active	NO
7	L23201MH1952GOI008858	HINDUSTAN PETROLEUM CORPORATION LIMITED	Director	22/09/2011	10/01/2011	09/01/2014	Active	NO
8	U04010CT1995PLC008985	JINDAL POWER LIMITED	Additional director	20/01/2011	20/01/2011	21/06/2011	Active	NO
9	L26940MH1936PLC002515	ACC Limited	Director	24/07/2014	03/02/2011	-	Active	NO
10	U31300TN2001PLC069645	MALCO Energy Limited	Managing director	23/07/2011	02/06/2011	25/09/2013	Active	NO
11	U40101PB2007SGC031035	TALWANDI SABO POWER LIMITED	Director	14/07/2012	19/01/2012	-	Active	NO
12	U67190TN1995PLC069644	STERLITE ENERGY LIMITED	Director	14/07/2012	19/01/2012	-	Amalgamated	NO
13	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	Director	19/06/2012	31/01/2012	-	Active	NO
14	U85190CT2008NPL020624	Vedanta Medical Research Foundation	Director	12/08/2013	20/12/2012	-	Active	NO
15	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	20/12/2014	15/01/2014	-	Active	NO
16	U52100UP2008PLC035862	JUBILANT AGRI AND CONSUMER PRODUCTS LIMITED	Director	01/09/2014	05/02/2014	-	Active	NO

Name :

Mr. Ramesh Ramachandran Nair

Designation :

Director

Address :

D-16, Tamira Niketan Sipcot Complex, Madurai Bye Pass Road, Thoothukudi- 628002, Tamilnadu, India

Date of Birth/Age :

01.06.1969

Date of Appointment :

17.10.2013

DIN No.:

02528707

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	U13202TZ1960PLC000372	THE MADRAS ALUMINIUM COMPANY LIMITED	Director	24/06/2009	19/01/2009	19/10/2011	Amalgamated	NO
2	U45203TN1999PLC069177	STERLITE INFRA LIMITED	Director	11/06/2010	29/10/2009	19/09/2011	Amalgamated	NO
3	U40109TN2010PLC084216	STERLITE PORTS LIMITED	Director	16/04/2010	16/04/2010	15/10/2011	Active	NO
4	U28113TN2010PLC083718	STERLITE INFRAVENTURES LIMITED	Director	22/04/2010	22/04/2010	15/10/2011	Active	NO
5	U35100TN2010PTC075408	Vizag General Cargo Berth Private Limited	Additional director	05/10/2010	05/10/2010	28/03/2011	Active	NO
6	U35100TN2011PTC079116	Paradip Multi Cargo Berth Private Limited	Director	08/02/2011	08/02/2011	07/03/2011	Active	NO
7	L26922HR1980PLC010901	JINDAL STAINLESS LIMITED	Whole-time director	30/11/2011	03/11/2011	02/04/2013	Active	NO
8	U27109DL2004PLC128146	JINDAL STAINLESS STEELWAY LIMITED	Director	29/08/2012	28/12/2011	05/04/2013	Active	NO
9	U74899DL1969NPL005064	FEDERATION OF INDIA MINERAL INDUSTRIES	Director	31/07/2013	31/07/2013	-	Active	NO
10	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	Whole-time director	17/10/2013	17/10/2013	-	Active	NO

Name :

Mrs. Sujata Prasad

Designation :

Nominee Director

Address :

D-1/50 Rabindra Nagar, Opposite Amrita Shergil Marg, New Delhi-110003, Delhi, India

Date of Birth/Age :

07.04.1958

Date of Appointment :

01.05.2013

DIN No.:

06587461

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	L27201WB1967GOI028825	HINDUSTAN COPPER LTD	Director	30/04/2013	30/04/2013	-	Active	NO
2	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	Nominee director	01/05/2013	01/05/2013	-	Active	NO
3	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Nominee director	03/05/2013	03/05/2013	-	Active	NO
4	L23109WB1973GOI028844	COAL INDIA LTD GOVT OF INDIA UNDERTAKING	Director	18/09/2013	03/05/2013	-	Active	NO

Name :

Mr. Sudhaker Shukla

Designation :

Nominee Director

Address :

H. No. 188 , House Type 5B Chanakya Puri, New Delhi-110021, Delhi, India

Date of Appointment :

13.11.2014

DIN No.:

07034685

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	U74899DL1965PLC004518	BHARAT ALUMINIUM CO LTD	Nominee director	13/11/2014	13/11/2014	-	Active	NO
2	L27204RJ1966PLC001208	HINDUSTAN ZINC LIMITED	Additional director	14/11/2014	14/11/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Dinesh Kumar Mantri
Designation :	Chief Fiancne Officer
Address :	Cfo, Bharat Aluminum Co Limited, Finance Department, 2nd Floor, Administrative Building, Balco Nagar, Korba, 49568
Date of Birth/Age :	28.06.1965
Date of Appointment :	22-04-14
PAN No.:	AFSPM8520J
Name :	Mr. Rohit Kumar Sarda
Designation :	Secretary
Address :	389/C/1, Balco Township, Korba-495684, Chhattisgarh, India
Date of Appointment :	21.07.2014
PAN No.:	AVEPS4200M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.06.2014

Names of Shareholders	No. of Shares
President of India, India	108106005
SESA Sterlite Limited, India	112518490
Sanjay Karn	1
Ashish Dilwaria	1
Rajiv Choubey	1
C Prabhakaran	1
Sachin Jain	1
Total	220624500

Equity Share Break up (Percentage of Total Equity)

As on 19.06.2014

Category	Percentage
Bodies corporate	51.00
Government [Central and State]	49.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Aluminium Ingots in Any Form, Wire Rods and Rolled Products.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	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 :

Not Divulged

Bankers :

Bank Name	Axis Bank Limited
Branch	Jeevan Bima Marg, Opposite New Bus Stand, Raipur Branch, Pandri, Raipur – 492004, Chattisgarh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

• State Bank of India, Mumbai, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Borrowing from foreign companies	12520.800	11584.600
Bonds	6666.700	3333.400
Other loans and advances	0.000	10356.400
Short-term borrowings
Working capital loans from banks	365.600	700.000
Loans repayable on demand	674.500	1048.000
Other loans and advances	3119.300	4691.300
Total	23346.900	31713.700

Financial Institutions :	IL and FS Trust Company Limited, IL and FS Financial Centre, Plot No. C 22, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountant
Address :	B-703 Sai Complex New Link Road, Kanderpada Dahisar W E S T, Mumbai-400068,Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFD4815A
Memberships :	--
Collaborators :	--
Holding company :	Sesa Sterlite Limited
Fellow Subsidiary company :	Hindustan Zinc Limited CIN No.: L27204RJ1966PLC001208 Sterlite Energy Limited CIN No.: U67190TN1995PLC069644 Vizag General Cargo Berth Private Limited CIN No.: U35100TN2010PTC075408 The Madras Aluminium Company Limited CIN No.: U13202TZ1960PLC000372 MALCO Energy Limited CIN No.: U31300TN2001PLC069645 Talwandi Sabo Power Limited CIN No.: U40101PB2007SGC031035
Other related parties :	Vedanta Medical Research Foundation CIN No.: U85190CT2008NPL020624 Anil Agarwal Foundation CIN No.: U91990MH2004NPL146228 Sterlite Technologies Limited CIN No.: L31300DN2000PLC000340

CAPITAL STRUCTURE

As on 19.06.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000,000	Equity Shares	Rs.10/- each	Rs. 5000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
220,624,500	Equity Shares	Rs.10/- each	Rs.2206.245 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	2206.200	2206.200	2206.200
(b) Reserves & Surplus	41480.500	41186.200	40504.400
(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)	43686.700	43392.400	42710.600
(3) Non-Current Liabilities
(a) long-term borrowings	19187.500	25274.400	22686.000
(b) Deferred tax liabilities (Net)	999.300	1310.000	1319.200
(c) Other long term liabilities	3012.400	3103.500	2409.300
(d) long-term provisions	1399.200	1413.200	1295.200
Total Non-current Liabilities (3)	24598.400	31101.100	27709.700
(4) Current Liabilities
(a) Short term borrowings	19934.600	14359.800	4030.400
(b) Trade payables	3436.100	2628.900	3494.100
(c) Other current liabilities	19400.500	13301.900	20513.600
(d) Short-term provisions	209.200	173.500	354.700
Total Current Liabilities (4)	42980.400	30464.100	28392.800
TOTAL	111265.500	104957.600	98813.100
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	15655.100	17592.200	18604.400
(ii) Intangible Assets	50.600	73.100	0.000
(iii) Capital work-in-progress	83821.800	75507.900	65068.100
(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	1805.400	1734.100	2703.900
(e) Other Non-current assets	122.300	0.000	0.000
Total Non-Current Assets	101455.200	94907.300	86376.400
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5538.900	5420.100	5490.500
(c) Trade receivables	1258.900	1817.000	1828.800
(d) Cash and cash equivalents	13.400	7.200	2482.800
(e) Short-term loans and advances	2967.700	2806.000	2631.100
(f) Other current assets	31.400	0.000	3.500
Total Current Assets	9810.300	10050.300	12436.700
TOTAL	111265.500	104957.600	98813.100

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	36717.400	39167.200	37620.900
	Other Income	224.500	365.100	623.000
	TOTAL (A)	36941.900	39532.300	38243.900
Less	EXPENSES
	Cost of Materials Consumed	15333.300	14428.600	12839.500
	Purchases of Stock-in-Trade	0.000	450.200	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(268.600)	(138.600)	(144.200)
	Employees benefits expense	3253.200	3224.200	3070.300
	Other expenses	15239.700	17789.300	16365.200
	Exceptional Items	0.000	0.000	61.900
	TOTAL (B)	33557.600	35753.700	32192.700
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	3384.300	3778.600	6051.200
Less	FINANCIAL EXPENSES (D)	923.000	601.000	333.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	2461.300	3177.600	5718.200
Less/ Add	DEPRECIATION/ AMORTISATION (F)	2302.500	2611.600	2703.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	158.800	566.000	3015.200
Less	TAX (H)	-230.000	-17.800	358.500
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	388.800	583.800	2656.700
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	32691.000	32107.300	30450.600
Less	APPROPRIATIONS
	Transfer from Debenture Redemption Reserve	2705.400	0.000	0.000
	Debenture Redemption Reserve	0.000	0.000	1000.000
	Total	2705.400	0.000	1000.000
	Balance Carried to the B/S	30374.400	32691.100	32107.300
	Earnings / (Loss) Per Share (Rs.)	1.76	2.65	12.04

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	8736.700	3359.900	11333.700
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.06	1.49	7.06
Operating Profit Margin (PBIDT/Sales)	(%)	9.22	9.65	16.08
Return on Total Assets (PBT/Total Assets}	(%)	0.58	1.92	8.94
Return on Investment (ROI) (PBT/Networth)		0.00	0.01	0.07
Debt Equity Ratio (Total Debt /Networth)		1.10	0.99	0.89
Current Ratio (Current Asset/Current Liability)		0.23	0.33	0.44

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	2206.200	2206.200	2206.200
Reserves & Surplus	40504.400	41186.200	41480.500
Net worth	42710.600	43392.400	43686.700
long-term borrowings	22686.000	25274.400	19187.500
Short term borrowings	4030.400	14359.800	19934.600
Current maturities of long-term debts	11333.700	3359.900	8736.700
Total borrowings	38050.100	42994.100	47858.800
Debt/Equity ratio	0.891	0.991	1.096

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	37620.900	39167.200	36717.400
		4.110	(6.255)

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	37620.900	39167.200	36717.400
Profit	2656.700	583.800	388.800
	7.06%	1.49%	1.06%

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	Yes
12	Voter Id Card No. of Proprietor / Partners	Yes
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Commercial paper	11200.000	6900.000
Other loans and advances	4575.200	1020.500
Total	15775.200	7920.500

Operational Performance

During the year, the production of saleable metal was 251,186 MT from the 0.245 Million MTPA pre-bake smelter as compared to 246,940 MT in the previous year, higher production of hot metal primarily due to higher current efficiency, and higher no. of Pots in operation. Also, Company produced 849 MT during trial run from 0.345 Million MTPA smelter. Consequently, sales during the year were 251,334 MT as compared to 245,857 MT in the previous year.

New Smelter has been put into the operations from February 21, 2014 and first metal was tapped on February 26, 2014. Till March 31, 2014, 36 Pots have started. Out of total hot metal production of 1366 MT, 893 MT metal was send to cast house during Q4 of FY 2013-14.

Cast House 3 (one wire rod mill) started production from 20 February, 2014 and have produced 110 MT of Ingots and 114 MT of Wire Rods during Q4 FY 2013-14. Cast house production is expected to be stabilized in first quarter of FY 2014-15.

The Income and Expenses relating to new smelter and new cast house have been capitalized considering trial run production.

The operating profit before finance cost during the year was Rs. 1081.800 Million as compared to Rs. 1167.000 Million The operating profit lower in this year is mainly due to increase in input cost i.e Coal and Alumina. The profit before tax for year was Rs. 158.800 Million as compared to Rs. 566.000 Million in the previous year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10554650	06/02/2015	5,000,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra  - 400051, INDIA	C45255817
2	10530393	08/10/2014	5,000,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra  - 400051, INDIA	C31697618
3	10453220	26/08/2013	5,000,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra  - 400051, INDIA	B84263128
4	10332438	19/01/2012	10,057,800,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra  - 400051, INDIA	B30772164
5	10318493	25/10/2011	7,500,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA	B25630443
6	10163912	27/09/2013 *	1,220,000,000.00	Axis Bank Limited	JEEVAN BIMA MARG, OPP NEW BUS STAND, RAIPUR BRANC  H, PANDRI, RAIPUR, Chhattisgarh - 492004, INDIA	B87776456
7	10140954	14/02/2009	5,000,000,000.00	IL & FS TRUST COMPANY LIMITED	IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA  , KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra  - 400051, INDIA	A56184542
8	10141155	14/02/2009	5,000,000,000.00	UNION BANK OF INDIA	Industrial Financial Branch,1st Floor,, 239 Vidhan Bhawan Marg, Nariman Point,, Mumbai, Maharashtra  - 400021, INDIA	A56277098
9	90051206	03/01/2005	7,000,000,000.00	UNIN BANK OF INDIA	C-22; G-BLOCK, BANDRA KURLA COMPLEX; BANDRA WEST,  MUMBAI, Maharashtra - 400051, INDIA	-
10	90050427	22/12/2014 *	7,750,000,000.00	STATE BANK OF INDIA	Corporate Accounts Group Branch, 2nd Floor,, Reliance House, 34 J L Nehru Road, KOLKATA, West Bengal - 700071, INDIA	C40470122

FIXED ASSETS

· Land and Land Development

- Free Land

- Lease hold

· Buildings

· Railway Siding

· Plant and Machinery

· Furniture and Fittings

· Vehicles

· Mine Development

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.63.57
UK Pound	1	Rs.99.20
Euro	1	Rs.70.35

INFORMATION DETAILS

Information Gathered by :	GAY
Analysis Done by :	SAN
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--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		60

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.