MIRA INFORM REPORT

Report No. :	331807
Report Date :	16.07.2015

IDENTIFICATION DETAILS

Name :	MANAKSIA COATED METALS AND INDUSTRIES LIMITED
Registered Office :	Bikaner Building, 8/1, Lal Bazar Street, 3^rd Floor, Kolkata – 700001, West Bengal
Tel. No.:	91-33-22310050
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	25.03.2010
Com. Reg. No.:	21-144409
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U27100WB2010PLC144409
TAN No.: [Tax Deduction & Collection Account No.]	CALM11021D
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Roofing Sheets, Metal Coil, Roofing Accessories, Metal Roofing Sheets, Coated Roofing Sheets, Tiled Sheets for Roofing.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Manaksia Limited” having a satisfactory track record. As per indirect source, we found that the subject company was dormant till 1^st October, 2013. Mr. Tapan Mandal (Accounts Department) has provided us with all information and he also confirmed that the company has commenced its commercial activity from November, 2014. However, the rating takes into consideration strong operational and managerial support it received from its parent company. Further, the rating also takes into consideration extensive experience of its promoters. Trade relations are reported to be improving. Business is active. Payment terms are reported to be slow but correct. In view of strong holding supports and extensive experience of its promoters, the company can be considered normal for business dealings at usual trade terms and condition. NOTE: During 23rd November 2014, the company has proposed a scheme of Arrangement in the nature of demerger of four divisions of Manaksia (the “Transferor Company”) viz. Steel Division, Packaging Division, Coated Metal & Mosquito Coil Division and Aluminium Division have demerger into the Four Transferee Companies viz. Manaksia Steels Limited, Manaksia Industries Limited, Manaksia Coated Metals & Industries Limited and Manaksia Aluminium Company Limited respectively under section 391-394 of companies Act.”Hon’ble High Court of Calcutta. Partial information is gathered from indirect source.

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	CIARE
Rating	Long term bank facilities = (A)
Rating Explanation	Adequate degree of safety and carry low credit risk
Date	10.04.2015

Rating Agency Name	CIARE
Rating	Short term bank facilities (A1)
Rating Explanation	Very strong degree of safety and carry lowest credit risk
Date	10.04.2015

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Tapan Mandal
Designation :	Accounts / Purchase Department
Contact No.:	91-9831259780
Date :	14.07.2015

LOCATIONS

Registered / Corporate Office :	Bikaner Building, 8/1, Lal Bazar Street, 3^rd Floor, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22310050 / 51 / 52
Mobile No.:	91-9831259780 (Mr. Tapan Mandal)
Fax No.:	91-33-22300336
E-Mail :	info@manaksia.com rkbanthia@manaksia.com
Website :	http://www.manaksia.com
Location :	Owned
Locality :	Industrial
Factory 1 :	Survey No. 396, Village Chandrani, Taluka Anjar, Kutch – 370205, Gujarat, India
Factory 2 :	Mandideep, Raisen, Madhya Pradesh, India
Factory 3 :	Bollaram, Medak, Telengana, India
Factory 4 :	Amingaon, Kamrup, Assam, India
Marketing Head Office :	38, Sundar Nagar Colony, Hyderabad – 500038, Telangana, India
Tel. No.:	91-40-23714327/ 23703451/ 0732
Fax No.:	91-40-23702584
E-Mail :	hyderabad@manaksia.com sjayanthi@manaksia.com
Branch Offices:	Located At: · Bangalore · New Delhi

DIRECTORS

AS ON 10.09.2014

Name :

Ms. Smita Khaitan

Designation :

Director

Address :

Flat - 5, UB, 31/41, Binova Bhave Road, Kolkata - 700038, West Bengal, India

Date of Birth/Age :

12.12.1949

Qualification :

Post Graduate

Date of Appointment :

17.11.2014

DIN No.:

01116869

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	U70101WB1994NPL061572	MANI TOWERS FLAT OWNERS ASSOCIATION	Director	01/03/2005	01/03/2005	01/02/2012	Active	NO
2	L74950WB1984PLC038336	MANAKSIA LIMITED	Director	26/09/2014	19/12/2006	-	Active	NO
3	U27100WB2010PLC144405	MANAKSIA ALUMINIUM COMPANY LIMITED	Director	17/11/2014	27/12/2012	-	Active	NO
4	U27100WB2010PLC144409	MANAKSIA COATED METALS AND INDUSTRIES LIMITED	Director	17/11/2014	10/01/2013	-	Active	NO
5	U27100WB2011PLC161235	MANAKSIA INDUSTRIES LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO
6	U27101WB2001PLC138341	MANAKSIA STEELS LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO

Name :

Mr. Sunil Kumar Agrawal

Designation :

Director

Address :

391, S N Roy Road, Kolkata - 700038, West Bengal, India

Date of Birth/Age :

11.12.1961

Qualification :

Commerce Graduate

Date of Appointment :

17.11.2014

PAN No.:

ACMPA5148B

DIN No.:

00091784

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	L74950WB1984PLC038336	MANAKSIA LIMITED	Director	23/11/2014	02/09/2000	-	Active	NO
2	U27101WB2001PLC138341	MANAKSIA STEELS LIMITED	Director	07/06/2001	07/06/2001	17/01/2013	Active	NO
3	U29299WB2003PTC097356	RAINBOW MANUFACTURING CO PRIVATE LIMITED	Director	26/05/2008	26/05/2008	22/08/2010	Active	NO
4	U27100WB2008PTC130306	ATHENA MINERALS AND STEEL PRIVATE LIMITED	Director	05/11/2008	05/11/2008	-	Active	NO
5	U01403WB2008PTC130444	MANSA NATURAL RESOURCES PRIVATE LIMITED	Director	11/11/2008	11/11/2008	31/01/2011	Active	NO
6	U27100WB2010PLC144409	MANAKSIA COATED METALS & INDUSTRIES LIMITED	Director	17/11/2014	25/03/2010	-	Active	NO
7	U27100WB2010PLC144405	MANAKSIA ALUMINIUM COMPANY LIMITED	Managing director	23/11/2014	25/03/2010	-	Active	NO
8	U51909WB2010PTC147883	PURUSHOTTAM BARTER PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
9	U51909TG2010PTC068715	SSQ EXPORTS PRIVATE LIMITED	Director	01/06/2010	01/06/2010	-	Active	NO
10	U51909TG2010PTC069275	SSM ADVANCE MATERIALS PRIVATE LIMITED	Director	05/07/2010	05/07/2010	-	Active	NO
11	U14220TG2012PTC082383	MANAKSIA CEMENTS PRIVATE LIMITED	Director	08/08/2012	08/08/2012	-	Active	NO

Name :

Mr. Ajay Kumar Chakraborty

Designation :

Director

Address :

W2A-101, Wellington Estate, DLF City Phase V, Gurgaon - 122009, Haryana, India

Date of Birth/Age :

07.04.1945

Date of Appointment :

17.11.2014

DIN No.:

00133604

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	L17111PB1973PLC003345	VARDHMAN TEXTILES LIMITED	Nominee director	09/09/2004	09/09/2004	26/03/2009	Active	NO
2	L74950WB1984PLC038336	MANAKSIA LIMITED	Director	26/09/2014	18/09/2004	-	Active	NO
3	L17115PB1979PLC003994	SHREYANS INDUSTRIES LIMITED	Director	30/09/2009	19/07/2005	-	Active	NO
4	L35999HR1968PLC004977	LAKSHMI PRECISION SCREWS LIMITED	Director	28/07/2005	28/07/2005	-	Active	NO
5	U27101WB2001PLC138341	MANAKSIA STEELS LIMITED	Director	17/11/2014	09/01/2013	-	Active	NO
6	U27100WB2010PLC144409	MANAKSIA COATED METALS AND INDUSTRIES LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO
7	U27100WB2011PLC161235	MANAKSIA INDUSTRIES LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO
8	U27100WB2010PLC144405	MANAKSIA ALUMINIUM COMPANY LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO

Name :

Mr. Kali Kumar Chaudhuri

Designation :

Director

Address :

40, Jubilee Park, 1st Floor, Flat- 1b, LP - 83/10, Kolkata - 700033, West Bengal, India

Date of Birth/Age :

18.09.1945

Date of Appointment :

17.11.2014

DIN No.:

00206157

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	L74950WB1984PLC038336	MANAKSIA LIMITED	Director	26/09/2014	01/02/2002	-	Active	NO
2	U27320WB1964GOI026211	MSTC LIMITED	Director	13/10/2005	13/10/2005	13/10/2008	Active	NO
3	L20211WB1957PLC023493	SARDA PLYWOOD INDUSTRIES LIMITED	Director	24/01/2006	24/01/2006	-	Active	NO
4	U74999DL2003GOI118633	RAIL VIKAS NIGAM LIMITED	Director	15/12/2010	15/12/2010	14/12/2013	Active	NO
5	U27100WB2011PLC161235	MANAKSIA INDUSTRIES LIMITED	Director	17/11/2014	09/01/2013	-	Active	NO
6	U27100WB2010PLC144409	MANAKSIA COATED METALS AND INDUSTRIES LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO
7	U27101WB2001PLC138341	MANAKSIA STEELS LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO
8	U27100WB2010PLC144405	MANAKSIA ALUMINIUM COMPANY LIMITED	Director	17/11/2014	17/11/2014	-	Active	NO

Name :

Mr. Sushil Kumar Agrawal

Designation :

Managing Director

Address :

391, S N Roy Road, Kolkata - 700038, West Bengal, India

Date of Birth/Age :

17.11.1960

Date of Appointment :

23.11.2014

DIN No.:

00091793

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	L74950WB1984PLC038336	MANAKSIA LIMITED	Whole-time director	01/01/2011	01/01/1998	23/11/2014	Active	NO
2	U27106WB2004PLC099659	AGRIM STEEL INDUSTRIES LIMITED	Director	03/09/2004	03/09/2004	-	Active	NO
3	U91990WB2005GAP106167	TINPLATE PROMOTION COUNCIL	Director	05/12/2005	05/12/2005	16/09/2011	Active	NO
4	U29309TG1983PTC004076	SPADE ELEKTRO PRIVATE LIMITED	Director	08/07/2006	08/07/2006	-	Active	NO
5	U01403WB2008PTC130444	MANSA NATURAL RESOURCES PRIVATE LIMITED	Director	11/11/2008	11/11/2008	31/01/2011	Active	NO
6	U27100WB2008PTC130306	ATHENA MINERALS AND STEEL PRIVATE LIMITED	Director	19/03/2010	19/03/2010	-	Active	NO
7	U52520TG2005PLC045634	PATODIA FABRICS LIMITED	Director	28/09/2010	18/05/2010	09/03/2011	Active	NO
8	U51909TG2010PTC068715	SSQ EXPORTS PRIVATE LIMITED	Director	01/06/2010	01/06/2010	-	Active	NO
9	U51909TG2010PTC069275	SSM ADVANCE MATERIALS PRIVATE LIMITED	Director	05/07/2010	05/07/2010	-	Active	NO
10	U14220TG2012PTC082383	MANAKSIA CEMENTS PRIVATE LIMITED	Director	08/08/2012	08/08/2012	-	Active	NO
11	U27100WB2010PLC144409	MANAKSIA COATED METALS AND INDUSTRIES LIMITED	Managing director	23/11/2014	10/01/2013	-	Active	NO

Name :

Ms. Anirudha Agrawal

Designation :

Whole-Time Director

Address :

391, S N Roy Road Sahapur, PS-Behala, Kolkata -700038, West Bengal, India

Date of Birth/Age :

17.10.1989

Date of Appointment :

17.11.2014

DIN No.:

06537905

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	Company/ LLP Status	Defaulting status
1	U25201WB2002PTC095100	SWEKA CAPS PRIVATE LIMITED	Director	26/03/2013	26/03/2013	Active	NO
2	U27100WB2010PLC144405	MANAKSIA ALUMINIUM COMPANY LIMITED	Director	17/11/2014	17/11/2014	Active	NO
3	U27100WB2010PLC144409	MANAKSIA COATED METALS & INDUSTRIES LIMITED	Whole-time director	17/11/2014	17/11/2014	Active	NO

Name :

Mr. Karan Agrawal

Designation :

Whole-Time Director

Address :

391, S N Roy Road, Post- Behala, Kolkata - 700038, West Bengal, India

Date of Birth/Age :

27.10.1986

Date of Appointment :

17.11.2014

DIN No.:

05348309

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	Company/ LLP Status	Defaulting status
1	U14220TG2012PTC082383	MANAKSIA CEMENTS PRIVATE LIMITED	Director	08/08/2012	08/08/2012	Active	NO
2	U55204TG2012PTC083113	KVK HOSPITALITY PRIVATE LIMITED	Director	14/09/2012	14/09/2012	Active	NO
3	U65191MH2010PLC202307	ADEL SHIPPING HOLDINGS LIMITED.	Additional director	01/09/2014	01/09/2014	Active	NO
4	U63000MH2010PLC199815	ADEL SHIPPING AND LOGISTICS LIMITED	Director	25/09/2014	01/09/2014	Active	NO
5	U27100WB2010PLC144409	MANAKSIA COATED METALS AND INDUSTRIES LIMITED	Whole-time director	17/11/2014	17/11/2014	Active	NO

KEY EXECUTIVES

Name :	Mr. Tapan Mandal
Designation :	Accounts / Purchase Department
Name :	Vividha Salampuria
Designation :	Secretary
Address :	P-888 Lake Town, North 24 Parganas, Block - A, Kolkata - 700089, West Bengal, India
Date of Appointment :	08.12.2014
PAN No.:	BHJPS9871C
Name :	Bharat Begwani
Designation :	Chief Finance Officer
Address :	P-27/1, CIT Scheme Viim, Kolkata - 700054, West Bengal, India
Date of Appointment :	23.112014
PAN No.:	ADRPB2150Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 10.09.2014

Names of Shareholders	No. of Shares
Manaksia Limited, India	499940
Biswanath Sharma	10
Ashok Kumar Rawat	10
Sitaram Agarwal	10
Vijay Kumar Khator	10
Ashok Jhunjhunwala	10
Rajesh Singhania	10
Total	500000

AS ON 10.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Roofing Sheets, Metal Coil, Roofing Accessories, Metal Roofing Sheets, Coated Roofing Sheets, Tiled Sheets for Roofing.
Brand Names :	“Mortein’’
Agencies Held :	--
Exports :
Products :	· Coated Metals and Aluminum
Countries :	· African Countries · Saudi Arabia
Imports :	--
Terms :
Selling :	Cash, Advance Payment, Cheque and Credit (60/ 90 Days)
Purchasing :	Cash, Advance Payment, Cheque and Credit (60/ 90 Days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers, Retailers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

500 (Approximately)

Bankers :

Bank Name:	State Bank of India
Branch:	Commercial Branch, Kolkata – 700016, West Bengal, 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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Bank of Baroda, Indian Exchange Branch, Kolkata, West Bengal, India

Banking Relations :	--
Financial Institution :	BMW India Financial Services Private Limited
Auditors :
Name :	S K Agrawal and Company Chartered Accountants
Address :	4A, Council House Street, Kolkata – 700001, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	AATFS9977P
Memberships :	--
Collaborators :	--
Fellow Subsidiary :	· Dynatech Industries (Ghana) Limited · Euroasian Venture FZE · Euroasian Steels LLC (Subsidiary of Euroasian Venture FZE) · Manaksia Aluminium Company Limited · Manaksia Overseas limited · Manaksia Steels Limited · Manaksia Industries Limited · Manaksia Ferro Industries Limited · Mark Steels Limited (Subsidiary of Manaksia Ferro Industries Limited)
Companies where Control Exists :	MINL Limited
Wholly owned subsidiary:	Manksia Limited

CAPITAL STRUCTURE

AFTER 10.09.2014

Authorised Capital : Rs. 75.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 65.534 Million

AS ON 10.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
75,000,000	Equity Shares	Re. 1/- each	Rs. 75.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Re. 1/- each	Rs. 0.500 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Re. 1/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Re. 1/- each	Rs. 0.500 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	0.500	0.500	0.500
(b) Reserves & Surplus	(0.276)	(0.247)	(0.219)
(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)	0.224	0.253	0.281
(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	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.280	0.000	0.000
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.011	0.007	0.009
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	0.291	0.007	0.009
TOTAL	0.515	0.260	0.290
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.000	0.000	0.000
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.470	0.260	0.290
(e) Short-term loans and advances	0.045	0.000	0.000
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	0.515	0.260	0.290
TOTAL	0.515	0.260	0.290

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.000	0.000	0.000
		TOTAL (A)	0.000	0.000	0.000
Less	EXPENSES
		Cost of Materials Consumed	0.000	0.000	0.000
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	0.000	0.000
		Employees benefits expense	0.000	0.000	0.000
		Other expenses	0.029	0.029	0.219
		TOTAL (B)	0.029	0.029	0.219
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.028)	(0.028)	(0.219)
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.028)	(0.028)	(0.219)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	0.000	0.000
	PROFIT BEFORE TAX (E-F) (G)		(0.028)	(0.028)	(0.219)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		(0.028)	(0.028)	(0.219)
	Earnings Per Share (Rs.)		(0.06)	(0.06)	(4.38)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from (used in) Operations	0.211	(0.030)	(0.12)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.00	0.00	0.00
Operating Profit Margin (PBIDT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(5.63)	(11.15)	(75.52)
Return on Investment (ROI) (PBT/Networth)		(0.13)	(0.11)	(0.78)
Debt Equity Ratio (Total Liability/Networth)		1.25	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.77	37.14	32.22

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	0.500	0.500	0.500
Reserves & Surplus	(0.219)	(0.247)	(0.276)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.281	0.253	0.224
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.280
Total borrowings	0.000	0.000	0.280
Debt/Equity ratio	0.000	0.000	1.250

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	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	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10573372	27/04/2015	160,000,000.00	IDBI BANK LIMITED	KOLKATA MAIN BRANCH, IDBI HOUSE, 44 SHAKESPEARE S  ARANI, KOLKATA - 700017, WEST BENGAL, INDIA	C55693733
2	10576914	30/03/2015	3,311,000.00	BMW INDIA FINANCIAL SERVICES PRIVATE LIMITED	DLF CYBER CITY, PHASE II,, BUILDING NO.10, TOWER  - C, 14TH FLOOR, GURGAON - 122002, HARYANA, INDIA	C57335093
3	10578878	30/12/2014	305,000,000.00	ALLAHABAD BANK	INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR., KOLKATA - 700001, WEST BENGAL, INDIA	C58395666
4	10550604	30/12/2014 *	365,000,000.00	BANK OF BARODA	INDIA EXCHANGE PLACE BRANCH, 4, INDIA EXCHANGE PL  ACE, KOLKATA - 700001, WEST BENGAL, INDIA	C56965411
5	10546942	30/12/2014 *	1,065,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA	C56270143

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Other loans and advances, others	0.280	0.000
Total	0.280	0.000

SCHEME OF ARRANGEMENT

As reported in the previous year’s Directors Report, the Board of Directors of the Company (Transferee Company) had approved the Scheme of Arrangement (Scheme) under provisions of Sections 391 to 394 of the Companies Act, 1956, for merger of the Coated Metal and Mosquito coil Undertaking of the Manaksia Limited (Transferor Company) on a going concern basis w.e.f. 1st October, 2013. Pursuant to the Scheme, shares of the Company, which are presently held by Transferor Company will be cancelled and the Company will issue one equity share of face value of Re. 1/- each fully paid up to the shareholders of Transferor Company for every share held by them on the record date, to be decided and fixed at a later date, after all necessary approvals, orders and permissions. The shares of the Company are proposed to be listed on all the Stock Exchanges at which the shares of Transferor Company are presently listed. The Scheme along with required information/documents as envisaged in SEBI circular dated 4th February, 2013 read with Circular dated 21st May, 2013 are available on the official websites of both NSE and BSE.

The Scheme was also approved unanimously by the shareholders of the Company in its Court Convened Meeting held on 7th January, 2014 pursuant to the directives of the Honble High Court at Calcutta dated 13th November, 2013.

The Honble High Court at Calcutta has vide its order dated 24th March, 2014 had allowed the Transferor Company’s application under Section 391(2) and 394 of the Companies Act, 1956 and sanctioned the Scheme. The Honble High Court has given directions to adjudicate the stamp duty payable on the order which at present is pending with the office of Collector of Stamp Revenue, Kolkata. The Scheme would become effective from the appointed date i.e. 1st October, 2013, after receipt of the Order of the Honble High Court at Calcutta after payment of adjudicated stamp duty and filing of the same by the Transferor Company with Registrar of Companies, West Bengal.

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.63.38
UK Pound	1	Rs.99.13
Euro	1	Rs.69.69

INFORMATION DETAILS

Information Gathered by :	MAN
Analysis Done by :	DIV
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--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	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		41

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.