MIRA INFORM REPORT

Report No. :	333102
Report Date :	21.07.2015

IDENTIFICATION DETAILS

Name :	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED

Registered Office :	D. No. 31-33-115/1/2, Darshan Paradise, Opposite Mamatha Press, Assam Garden, Visakhapatnam – 530016, Andhra Pradesh
Tel. No.:	91- 891-6621270

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	12.09.2012

Com. Reg. No.:	01-083036

Capital Investment / Paid-up Capital :	Rs.15.150 Million

CIN No.: [Company Identification No.]	U74900AP2012PTC083036

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	VPNS08744B

PAN No.: [Permanent Account No.]	AASCS0052P

Legal Form :	Private Limited Liability Company

Line of Business :	To carry the business to produce, develop, distribute, derive, discover, excavate, dig, blast, grade, prepare, promote, supply, import, export, Buy, sell, act as agent, broker and all types of minerals, their concentrates, compounds, products, by-products, derivatives, mixtures, ingredients and residues, available on the planet earth.

No. of Employees :	Information declined by the management

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

Maximum Credit Limit :	USD 60000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. Rating takes into consideration, subjects moderate financial risk profile marked by low reserves, low profit margins and huge external borrowing taken by the company which acts as a threat to its liquidity position. Trade relations are fair. Business is active. Payment terms are reported to be sow but correct. 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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

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 31-03-2013.

INFORMATION DENIED BY

Name :	Ms. Radha
Designation :	Office Executive
Contact No.:	91-891-6621270
Date :	21.07.2015

LOCATIONS

Registered Office :	D. No. 31-33-115/1/2, Darshan Paradise, Opposite Mamatha Press, Assam Garden, Visakhapatnam – 530016, Andhra Pradesh, India
Tel. No.:	91- 891-6621270 / 6644418
Fax No.:	91- 891-6644417 / 6644418
E-Mail :	sales@saikruthiminmet.com grajeshu@gmail.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Grandhi Rajesh

Designation :

Managing Director

Address :

Flat No.201, Satjana Residency, Assam Gardens, Visakhapatnam - 530004, Andhra Pradesh, India

Date of Birth/Age :

02.08.1976

Date of Appointment :

14.03.2014

DIN No.:

02506310

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	U74990AP2009PTC063659	INTEGRAL CONTAINER FREIGHT STATION PRIVATE LIMITED	Director	13/05/2009	13/05/2009	Active	NO
2	U61200AP2012PTC081606	VPL INTEGRAL CFS PRIVATE LIMITED	Whole-time director	01/12/2014	22/06/2012	Active	NO
3	U63000AP2010PTC067622	INTEGRAL TRADING AND LOGISTICS INDIA PRIVATE LIMITED	Director	29/09/2012	25/08/2012	Active	NO
4	U74900AP2012PTC083036	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED	Managing director	14/03/2014	12/09/2012	Active	NO
5	U13201AP2014PTC095227	TGS Minmet Private Limited	Director	04/09/2014	04/09/2014	Active	NO

Name :

Mr. Maddali Ravi Chandra Sekhar

Designation :

Director

Address :

24 Lisa CT, Parsippany, NJ070549, New Jersey, United States of America

Date of Birth/Age :

11.08.1969

Date of Appointment :

30.09.2013

DIN No.:

06604824

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

Company/ LLP Status

Defaulting status

U74900AP2012PTC083036

SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED

Director

30/09/2013

24/06/2013

Active

Name :

Mr. Kolli Rajesh

Designation :

Director

Address :

H No 81, K H B Colony, Near OPD Nethaji Nagar, Cantonment, Bellary - 583104, Karnataka, India

Date of Birth/Age :

15.04.1978

Date of Appointment :

12.09.2012

DIN No.:

03507629

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	U27310AP2012PLC078430	ABHINAV STEELS INDIA LIMITED	Director	05/01/2012	05/01/2012	Active	NO
2	U14200TG2012PTC081737	MADHAV FERRO INDUSTRIES PRIVATE LIMITED	Director	03/07/2012	03/07/2012	Active	NO
3	U45400TG2012PTC082838	VIZAG SLURRY PIPELINE INFRASTRUCTURE PRIVATE LIMITED	Director	04/09/2012	04/09/2012	Active	NO
4	U74900AP2012PTC083036	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED	Director	12/09/2012	12/09/2012	Active	NO

Name :

Mr. Srinivasulu Harshanandan Tadikamalla

Designation :

Director

Address :

Flat No. 302, Above RS International Car Show Room, Beside NIIT, Narasimha Nagar, Visakhapatnam - 530016, Andhra Pradesh, India

Date of Birth/Age :

02.01.1991

Date of Appointment :

30.09.2014

DIN No.:

03584526

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	U14200AP2014PTC093020	GRACE STONEX PRIVATE LIMITED	Director	18/02/2014	18/02/2014	Active	NO
2	U14200AP2014PTC093058	SUNGLORY OVERSEAS (INDIA) PRIVATE LIMITED	Director	19/02/2014	19/02/2014	Active	NO
3	U02929AP2014PTC094853	SDV TRADE LINKS PRIVATE LIMITED	Director	19/07/2014	19/07/2014	Active	NO
4	U74900AP2012PTC083036	SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED	Director	30/09/2014	04/08/2014	Active	NO
5	U13201AP2014PTC095227	TGS Minmet Private Limited	Director	04/09/2014	04/09/2014	Active	NO

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Grandhi Rajesh	505000
Kolli Rajesh	505000
Maddali Ravi Chandra Sekhar	505000

Total	1515000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00

BUSINESS DETAILS

Line of Business :	To carry the business to produce, develop, distribute, derive, discover, excavate, dig, blast, grade, prepare, promote, supply, import, export, Buy, sell, act as agent, broker and all types of minerals, their concentrates, compounds, products, by-products, derivatives, mixtures, ingredients and residues, available on the planet earth.

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Not Divulged

Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Abhinav Steel India Limited
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

Abhinav Traders
Adani Enterprises Limited
Adani Logistics Limited
Chalam Associates
KTC Ferro Allowes Limited
Indus Resources Private Limited
Kyori Oremin Limited
Maa Mahamaya Industries Limited
Steel Mont Private Limited
Vizag Profiles Limited

Customers :

Company Name :	Abhijet Ferrotech Limited
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

Bhaskar Alluminium Construction Private Limited
Hira Electro Smelters Private Limited
Indsil Hydro Power and Management Limited
JRT Agromin Trading Limited
Kyori Oremin Limited
KSJ Cements Limited
Simhadri Power Limited
SMS Pharmaceuticals Limited
Toshali Cements Private Limited
Vishnu Chemical Limited

No. of Employees :

Information declined by the management

Bankers :

Banker Name :	Axis Bank Limited
Branch :	Lions Club Building, Waltair Main Road, Ramnagar, Visakhapatnam - 530002, Andhra Pradesh, 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 :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
5466623 FCCD’s of Rs.10/- each pending allotment to Mr. M. Ravi Chandra Sekhar	54.666	0.000

Short Term Borrowings
Bank OD A/C Axis Bank CC Account – 913030005811382 (Secured by providing collateral security of site belonging for MR. K Rajesh, Director of 1977.75 Sq. yds. at Guntur and site belonging to Mrs. T Lakshmi of 1977.75 sq. yds.) (The loan is also secured by the personal guarantees of Mrs. T Lakshmi and the directors Mr. K Rajesh and Mr. G Rajesh )	38.355	37.965

Total	93.021	37.965

Auditors :
Name :	Challam Associates Chartered Accountants
Address :	47-7-15, 3rd Floor, Dwarakanagar, Visakhapatnam – 530016, Andhra Pradesh, India
Tel. No.:	91-891-2745050/2553907
Fax No.:	91-891-2795579
E-Mail :	chalamasscoiates@yahoo.com
PAN No.:	AABFC4486H

Memberships :	Not Divulged

Collaborators :	Not Divulged

Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount

2000000	Equity Shares	Rs.10/- each	Rs.20.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

1515000	Equity Shares	Rs.10/- each	Rs.15.150 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	15.150	10.000
(b) Reserves & Surplus	5.876	0.193
(c) Money received against share warrants	0.000	0.000

(2) Share Application money pending allotment	0.000	0.010
Total Shareholders’ Funds (1) + (2)	21.026	10.203

(3) Non-Current Liabilities
(a) long-term borrowings	54.666	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	54.666	0.000

(4) Current Liabilities
(a) Short term borrowings	38.355	37.965
(b) Trade payables	28.236	63.799
(c) Other current liabilities	8.464	0.044
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	75.055	101.808

TOTAL	150.747	112.011

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.166	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	1.096	1.685
Total Non-Current Assets	1.262	1.685

(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	44.084	42.022
(c) Trade receivables	67.665	67.895
(d) Cash and cash equivalents	0.693	0.300
(e) Short-term loans and advances	37.043	0.033
(f) Other current assets	0.000	0.076
Total Current Assets	149.485	110.326

TOTAL	150.747	112.011

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income		96.519
	Other Income		0.450
	TOTAL	490.958	96.969

Less	EXPENSES	482.571	95.797

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	8.387	1.172

Less	DEPRECIATION/ AMORTISATION	0.042	0.000

	PROFIT/ (LOSS) BEFORE TAX	8.345	1.172

Less	TAX	2.662	0.979

	PROFIT/ (LOSS) AFTER TAX	5.683	0.193

	Earnings / (Loss) Per Share (Rs.)	3.75	0.19

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA
Cash generated from operations	NA	NA
Net cash flow from (used in) operations	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin PAT / Sales	(%)	NA	0.20

Return on Total Assets (PBT/Total Assets)	(%)	5.54	1.05

Return on Investment (ROI) (PBT/Networth)		0.40	0.11

Debt Equity Ratio (Total Debt /Networth)		4.42	3.72

Current Ratio (Current Asset/Current Liability)		1.99	1.08

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Share Capital	10.000	15.150
Reserves & Surplus	0.193	5.876
Share Application money pending allotment	0.010	0.000
Net worth	10.203	21.026

long-term borrowings	0.000	54.666
Short term borrowings	37.965	38.355
Total borrowings	37.965	93.021
Debt/Equity ratio	3.721	4.424

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Total Income	96.969	490.958
		406.304

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Total Income	96.969	490.958
Profit	0.193	5.683
	0.20%	1.16%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	No
18	Major suppliers	Yes
19	Major customers	Yes
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 two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last two 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	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10483819	12/03/2014	54,666,230.00	Axis Trustee Services Limited	Axis House, 2^nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, India	C00011353
2	10405552	29/05/2014 *	50,000,000.00	Axis Bank Limited	Door No.47-10-24/25, Sai Trade Centre, 2^nd Lane, Dwarakanagar, Visakhapatnam, Andhra Pradesh - 530016, India	C10951085

*Date of modification Charges

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.63.55
UK Pound	1	Rs.99.10
Euro	1	Rs.68.83

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	SAN

Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--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.