MIRA INFORM REPORT

Report No. :	334473
Report Date :	30.07.2015

IDENTIFICATION DETAILS

Name :	GLADE MINERAL RESOURCES PRIVATE LIMITED
Registered Office :	H No 8-2-120/115/14, Flat No 407, 4th Floor, Shangri La Plaza, Banjara Hills, Hyderabad – 500034, Telangana
Tel. No.:	91-40-40208345
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.05.2013
Com. Reg. No.:	36-087619
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U14200TG2013PTC087619
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Iron and Steel.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 3000
Status :	Relatively new company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new company establishing itself gradually. The rating is constrained due to moderate net worth and low track record of operations. Further, there is an unfavorable gap between trade receivables and payables during FY 2014. However, trade relations are improving. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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	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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Ravindra Reddy
Designation :	Manager
Contact No.:	91-9666166243
Date :	29.07.2015

LOCATIONS

Registered Office / Factory:	H No 8-2-120/115/14, Flat No 407, 4th Floor, Shangri La Plaza, Banjara Hills, Hyderabad – 500034, Telangana, India
Tel. No.:	91-40-40208345/40205345
Mobile No.:	91-9666166243 (Mr. Ravindra Reddy)
Fax No.:	Not Available
E-Mail :	rameshbang@sbmetals.in

DIRECTORS

As on 29.09.2014

Name :

Mr. Rakesh Agrawal Satyanarayan

Designation :

Additional director

Address :

H. No. 8-2-405/1 TO 3, Road No. 6, Banjara Hills, Hyderabad-500003, Telangana, India

Date of Bairth/Age:

20.05.1975

Date of Appointment :

01.11.2013

DIN No.:

01810818

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	U27200MH1982PTC027267	RAJESH STEEL INDUSTRIES PRIVATE LIMITED	Director	01-04-01	01-04-01	20-12-07	Active	NO
2	U24299TG2002PTC039299	B.S. INTEGRATED STEEL PRODUCTS PRIVATE LIMITED	Director	25-02-03	25-02-03	-	Amalgamated	NO
3	L27109AP2004PLC042375	BS LIMITED	Managing director	01-10-12	07-01-04	30-05-14	Active	NO
4	U45200TG2006PTC049159	YOGRAJ REAL ESTATES PRIVATE LIMITED	Director	29-05-06	29-05-06	-	Active	NO
5	U10102TG2006PLC051730	REEMA LAXMI MINING & ENERGY LIMITED	Director	20-11-06	20-11-06	-	Under Process of Striking off	NO
6	U72200TG2001PTC037216	I-VANTAGE INDIA PRIVATE LIMITED	Director	30-09-08	01-01-08	-	Active	NO
7	U70102TG2005PLC047023	SHIVAGANGA INFRASTRUCTURES LIMITED	Director	30-09-08	26-04-08	03-05-13	Active	NO
8	U74900TG2008PLC059595	BS INFRATEL LIMITED	Director	10-06-08	10-06-08	-	Under Process of Striking off	NO
9	U70102TG2007PLC053575	CVK DEVELOPERS LIMITED	Director	21-07-09	09-02-09	-	Under Process of Striking off	NO
10	U29309TG1993PLC016707	ENERSYS ASTRA LIMITED	Director	29-09-09	06-06-09	07-08-13	Active	NO
11	U72200TG2006PTC049254	HEAD INFOTECH INDIA PVT LTD	Director	15-09-09	15-09-09	03-11-10	Active	NO
12	U40108MH2009GOI220024	RAICHUR SHOLAPUR TRANSMISSION COMPANY PRIVATE LIMITED	Director	20-09-11	28-02-11	31-07-14	Active	NO
13	U40108TG2012PLC078644	EKO TECHNOLOGIES LIMITED	Director	19-01-12	19-01-12	-	Active	NO
14	U37100TG2012PLC082570	BS ENVIRO SOLUTIONS LIMITED	Director	21-08-12	21-08-12	-	Active	NO
15	U14200TG2013PTC087619	GLADE MINERAL RESOURCES PRIVATE LIMITED	Additional director	01-11-13	01-11-13	-	Active	NO
16	U70101TG2013PTC091590	REDDY REALTORS PRIVATE LIMITED	Director	10-12-13	10-12-13	16-02-15	Active	NO
17	U73100TG2008PTC056978	NVR BIOTECH PRIVATE LIMITED	Director	04-02-14	04-02-14	-	Active	NO
18	U27310TG2011PTC076974	SB METALS PRIVATE LIMITED	Additional director	02-06-14	02-06-14	-	Active	NO

Name :

Mrs. Rakhee Rakesh Agrawal

Designation :

Additional director

Address :

H. No. 8-2-405/1 TO 3, Road No. 6, Banjara Hills, Hyderabad-500003, Telangana, India

Date of Bairth/Age:

18.08.1978

Date of Appointment :

11.05.2013

DIN No.:

06413661

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	U27310TG2011PTC076974	SB METALS PRIVATE LIMITED	Additional director	01-04-12	01-04-12	-	Active	NO
2	U45200TG2006PTC049159	YOGRAJ REAL ESTATES PRIVATE LIMITED	Additional director	03-05-13	03-05-13	-	Active	NO
3	U14200TG2013PTC087619	GLADE MINERAL RESOURCES PRIVATE LIMITED	Director	11-05-13	11-05-13	-	Active	NO
4	U72900TG2014PTC096782	PRATYAYA E-COMMERCE PRIVATE LIMITED	Director	12-01-15	12-01-15	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Ravindra Reddy
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

Names of Shareholders	No. of Shares	%age holding
Rakesh Agrawal Satyanarayan	5000	50.00
Rakhee Rakesh Agrawal	5000	50.00
Total	10000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Iron and Steel.
Products :	Iron and Steel
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash and credit
Purchasing :	Cash and credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Variegate Projects Private 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

Customers :

Manufacturer

Reference :	HSL Steels Private 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

No. of Employees :

20 (Approximately)

Bankers :

State Bank of Travancore Secunderabad, Telangana, India

Bank Name	IDBI Bank
Branch	Banjara Hills, Hyderabad, Telangana, 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

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)
Long-term Borrowings
From others	0.050
Total	0.050

Auditors :
Name :	S.K. Bang and Company Chartered Accountants
Address :	4-2-333/39 Badi Chowdi, Sultan Bazar, Hyderabad – 500195, Telangana, India
Tel. No.:	91-40-24751511
Email:	skbangco@rediffmail.com
Website:	www.skbangando.com
PAN N Income-tax PAN of auditor or auditor's firm :	AANFS6984L
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	1.008
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	1.108
(3) Non-Current Liabilities
(a) long-term borrowings	0.050
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.050
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	186.513
(c) Other current liabilities	0.042
(d) Short-term provisions	0.450
Total Current Liabilities (4)	187.005
TOTAL	188.163
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.009
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.000
Total Non-Current Assets	0.009
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	163.305
(d) Cash and cash equivalents	0.473
(e) Short-term loans and advances	24.355
(f) Other current assets	0.021
Total Current Assets	188.154
TOTAL	188.163

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014
	SALES
	Income	192.313
	Other Income	0.000
	TOTAL (A)	192.313
Less	EXPENSES
	Cost of Materials Consumed	190.627
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.120
	Employees benefits expense	0.073
	Other Operating Expenses	0.028
	Administrative Expenses	0.002
	TOTAL (B)	190.850
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1.463
Less	FINANCIAL EXPENSES (D)	0.004
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	1.459
Less/ Add	DEPRECIATION/ AMORTISATION (F)	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	1.459
Less	TAX (H)	0.451
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	1.008
	Earnings / (Loss) Per Share (Rs.)	100.79

Particulars	31.0.3.2015
Sales Turnover (Approximately)	420.000

Expected Sales (2015-2016): Rs.720.000 Million

The above information has been parted by Mr. Ravindra Reddy

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014
Current Maturities of Long term debt	NA
Cash generated from operations	0.332
Net Cash Flow From Operating Activities	0.332

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT / Sales)	(%)	0.52
Operating Profit Margin (PBIDT/Sales)	(%)	0.76
Return on Total Assets (PBT/Total Assets}	(%)	0.78
Return on Investment (ROI) (PBT/Networth)		1.32
Debt Equity Ratio (Total Debt /Networth)		0.05
Current Ratio (Current Asset/Current Liability)		1.01

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	Yes
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	Yes
29	Profitability for last one year	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	10549046	28/01/2015	60,000,000.00	STATE BANK OF TRAVANCORE	111, S.D.ROAD, SECUNDERABAD, TELANGANA - 500003, INDIA	C43589555
2	10553963	22/12/2014	170,000,000.00	LAKSHMI VILAS BANK LIMITED	D.NO:4-3-371, BANK STREET, KOTI, HYDERABAD, TELANG ANA - 500195, INDIA	C46086955

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.63.89
UK Pound	1	Rs.99.71
Euro	1	Rs.70.63

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	KAS
Report Prepared by :	KVT

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.