MIRA INFORM REPORT

Report No. :	328054
Report Date :	23.06.2015

IDENTIFICATION DETAILS

Name :	R. D. STEELS
Registered Office :	13, Navyug Market, Ghaziabad – 201011, Uttar Pradesh
Tel. No.:	91-120-2790778/279817
Country :	India
Financials (as on) :	31.03.2015
Year of Establishment:	1987
Capital Investment / Paid-up Capital :	Not Divulged
TIN No.:	09990900170
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADFR7162B
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Dealer and Trader of Steel.
No. of Employees :	6 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established partnership concern having moderate track. Mr. B.D Sharman (Manager) has provided us with all information. There seems drastic dip in the sales turnover of the concern during 2014. Profitability of the concern also seems to be low. However, Trade relations are fair. Business is active. Payment terms are reported to be Slow but correct. The concern can be considered for business dealings with some cautions.

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. B. D. Sharmam
Designation :	Manager
Contact No.:	91-9971979940
Date :	18.06.2015

LOCATIONS

Registered Office :	13, Navyug Market, Ghaziabad, Rampuri Ghaziabad – 201011, Uttar Pradesh, India
Tel. No.:	91-120-2790778, 2790817
Mobile No.:	91-9971979940 (Mr. B. D. Sharmam)
Fax No.:	Not Available
E-Mail :	malkhan_india001@yahoo.co.in
Location :	Owned
Godown:	Located At: Loha Mandi Ghaziabad

/PARTNERS

Name :	Mr. Subhas Chandra Garg
Designation :	Partner
Address :	Ghaziabad – 201011, Uttar Pradesh, India
Name :	Mr. Saurabh Garg
Designation :	Partner
Address :	Ghaziabad – 201011, Uttar Pradesh, India

KEY EXECUTIVES

Name :	Mr. B. D. Sharmam
Designation :	Manager

BUSINESS DETAILS

Line of Business :	Dealer and Trader of Steel.
Products :	Not Available
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

GENERAL INFORMATION

Suppliers :

• Nawia Ispat Private Limited - Muzzaffarpur

Customers :

• Shree Govindam Castina Private Limited - Gaziabad

No. of Employees :

6 Approximately)

Bankers :

Bank Name	The Nainital Bank Limited
Branch	Ghaziabad, Uttar Pradesh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	026600000000143
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

Auditors :

Name :

Sunil and Company

Chartered Accountants

Memberships :

Not Available

Collaborators :

Not Available

Associates/Subsidiaries :

• R.D. Forge Unit of RD Chemicals Private Limited
• R. D. Forge Private Limited
• R.D. Infratel Private Limited

Address: Uttar Pradesh, India

Line of Business: Dealer and Trader of Steel.

CAPITAL STRUCTURE

AS ON 31.03.2014

Capital Investment :
Owned :	Rs. 11.028 Million
Borrowed :	--
Total :	Rs. 11.028 Million

FINANCIAL DATA

[all figures are in Rupees Million]

Particulars	31.03.2015
Sales Turnover (Approximately)	230.000

Expected Sales (2015 - 2016): Rs. 250.000 Million

The above information has been parted by Mr. B.D.Sharma

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Share Capital		11.028	10.179
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		11.028	10.179
LOAN FUNDS
1] Secured Loans		16.355	22.540
2] Unsecured Loans		13.167	11.557
TOTAL BORROWING		29.522	34.096
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		40.550	44.276
APPLICATION OF FUNDS		0.000	0.000
FIXED ASSETS [Net Block]		0.277	0.326
Capital work-in-progress		0.000	0.000
INVESTMENT		0.005	0.005
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Closing Stock	8.832	19.508
	Sundry Debtors	44.403	49.199
	Cash & Bank Balances	1.018	0.372
	Loans & Advances	0.693	1.696
	Bank Balance in Current Account	0.042	0.000
Total Current Assets		54.989	70.775
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	13.557	25.432
	Interest Accrued But Not Due	0.035	0.105
	Advance From Customer	0.975	0.000
	Expenses Payable	0.122	0.068
	Duties and taxes	0.031	1.225
Total Current Liabilities		14.720	26.830
Net Current Assets		69.709	97.605
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		40.550	44.276

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Income	232.232	977.635
	Other Income	0.152	1.984
	TOTAL	232.384	979.619
Less	EXPENSES
	Cost of goods sold	219.201	947.988
	Freight and cartage	0.470	2.148
	Staff salaries	0.763	0.907
	Printing and stationery	0.004	0.003
	Postage and telephone	0.013	0.017
	Travelling and conveyance	0.013	0.027
	Bank interest	7.540	16.544
	Bank charges	0.160	0.286
	Fees and taxes	0.007	0.003
	Interest on unsecured loans	0.557	0.780
	Legal and professional charges	0.088	0.212
	Freight outward	1.487	5.385
	Staff welfare expenses	0.010	0.024
	Motor car expenses	0.026	0.029
	Scooter expenses	0.017	0.019
	Electricity charges	0.075	0.075
	Service tax on freight	0.060	0.230
	Audit fees	0.022	0.022
	Advertisement and publicity	0.016	0.015
	U.P. Vat	0.269	0.000
	Charity and donation	0.011	0.060
	Interest on taxes	0.003	0.019
	Miscellaneous expenses	0.004	0.003
	Income tax	0.101	0.000
	Interest on partner capital	0.632	0.000
	Salary to partner	0.240	0.840
	Provision for income tax	0.205	0.000
	Commission on sale	0.000	1.098
	Entry tax paid	0.000	0.035
	TOTAL	231.789	976.769
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.595	2.850
Less/ Add	DEPRECIATION/ AMORTISATION	0.049	0.053
	PROFIT/ (LOSS) BEFORE TAX	0.546	2.797
Less	TAX	0.205	0.883
	PROFIT/ (LOSS) AFTER TAX	0.341	1.914

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	0.15	0.20
Operating Profit Margin (PBIDT/Sales)	(%)	0.26	0.29
Return on Total Assets (PBT/Total Assets}	(%)	0.99	3.93
Return on Investment (ROI) (PBT/Networth)		0.05	0.27
Debt Equity Ratio (Total Debt /Networth)		2.68	3.35
Current Ratio (Current Asset/Current Liability)		1.97	1.84

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales (Approximately)	977.635	232.232	230.000
		(76.246)	(0.961)

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	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last two years	No
30	Major shareholders, if available	No
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

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 records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.50
UK Pound	1	Rs.100.93
Euro	1	Rs.72.31

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	RSH
Report Prepared by :	RKI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		29

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
D	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.