MIRA INFORM REPORT

Report No. :	314070
Report Date :	24.03.2015

IDENTIFICATION DETAILS

Name :	GOOD LUCK STEEL TUBES LIMITED
Registered Office :	5/102, Sikka Complex, 1^st Floor, Community Centre, Preet Vihar, Vikas Marg, Delhi – 110092
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	06.11.1986
Com. Reg. No.:	55-050910
Capital Investment / Paid-up Capital :	Rs. 44.013 Million
CIN No.: [Company Identification No.]	L74899DL1986PLC050910
TAN No.: [Tax Deduction & Collection Account No.]	MRTG00350A
PAN No.: [Permanent Account No.]	AAACG3204D
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Subject is engaged in the Manufacturing of Black and G.I. Pipe, C.R. Sheet / Coil, G.P.G.C. Sheet / Coil, C.R.C.A. Sheet / Coil, Structures, Poles, Stainless / Mild / Alloy steel forgings and flanges, Bright Bars, ERW Tube and CDW Tubes, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 4000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Performance capacity of the company seems to be good. Trade relation reported to be fair. Business is active. Payment terms are reported to be regular and as per commitments. The company can be considered for business dealing 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

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.

LOCATIONS

Registered Office :	5/102, Sikka Complex, 1^st Floor, Community Centre, Preet Vihar, Vikas Marg, Delhi – 110092, India
Tel. No.:	91-11-22465439
Fax No.:	91-11-22214254
E-Mail :	cs@goodlucksteel.com
Website :	http://www.goodlucksteel.com
Corporate Office :	II F 166-167, Good Luck House, Nehru Nagar, Ambedakar Road, Ghaziabad, Uttar Pradesh, India
Tel. No.:	91-120-4196600 / 4196700
Fax No.:	91-120-4196666 / 4196777
Email:	investor@goodlucksteel.com
Factory 1 :	A-42 and 45, Industrial Area, Sikandrabad, District Bulandshahr - 203205 Uttar Pradesh, India
Tel. No.:	91-5735-221969 / 221970
Fax No.:	91-5735-222863
Factory 2 :	A-51, Industrial Area, Sikandrabad, District Bulandhahar-203205, Uttar Pradesh, India
Tel. No.:	91-5735-221017
Factory 3 :	Khsra No. 2839, Dhoom Manik Pur, G.T. Road, Gautam Budh Nagar, Dadri, Uttar Pradesh, India
Tel. No.:	91-120-2666896

DIRECTORS

AS ON 31.03.2014

Name :

Mr. Mahesh Chandra Garg

Designation :

Director

Address :

R-4/52, Raj Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

28.06.1946

Date of Appointment :

06.11.1986

DIN :

00292437

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	L74899DL1986PLC050910	GOOD LUCK STEEL TUBES LIMITED	Whole-time director	01/10/2012	06/11/1986	-	Active	NO
2	U28112DL2009PTC192792	GOODLUCK INFRAPOWER PRIVATE LIMITED	Director	01/01/2010	01/01/2010	14/06/2012	Active	NO
3	U27109DL2004PTC128383	MASTERJI METALLOYS PRIAVATE LIMITED	Additional director	01/02/2012	01/02/2012	06/09/2012	Active	NO
4	U15141DL1999PTC102941	PVGMB PETROCHEM PRIVATE LIMITED	Additional director	10/12/2012	10/12/2012	-	Active	NO

Name :

Mr. Ramesh Chandra Garg

Designation :

Director

Address :

10/159, Raj Nagar, Sector - 10, Ghaziabad, 201001, Uttar Pradesh, India

Date of Birth/Age :

15.07.1946

Date of Appointment :

12.09.1988

DIN :

00298129

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	L74899DL1986PLC050910	GOOD LUCK STEEL TUBES LIMITED	Whole-time director	01/10/2012	12/09/1988	-	Active	NO
2	U51909DL2003PTC123138	VIDISHA EXPORTS PRIVATE LIMITED	Director	29/04/2005	29/04/2005	-	Converted to LLP and dissolved	NO
3	U28112DL2009PTC192792	GOODLUCK INFRAPOWER PRIVATE LIMITED	Director	01/01/2010	01/01/2010	14/06/2012	Active	NO
4	U27109DL2004PTC128383	MASTERJI METALLOYS PRIAVATE LIMITED	Additional director	01/02/2012	01/02/2012	-	Active	NO
5	AAB-7978	VIDISHA EXPORTS LLP	Designated Partner	04/10/2013	04/10/2013	-	Active	NO

Name :

Mr. Vijender Kumar Tyagi

Designation :

Director

Address :

K 36 Hig, Niti Nagar, Sector - 23, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

05.10.1957

Date of Appointment :

19.12.2006

DIN :

01584278

Name :

Mr. Rahul Goel

Designation :

Director

Address :

Ke 93, Kavi Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/Age :

14.09.1972

Date of Appointment :

19.12.2006

DIN :

02067212

Name :

Mr. Anurag Agarwal

Designation :

Director

Address :

Om Kunj, Chiranji Colony, Dadri,Gautam Budha Nagar, Uttar Pradesh, India

Date of Birth/Age :

12.02.1982

Date of Appointment :

19.12.2006

DIN :

01584222

Name :

Mr. Nitin Garg

Designation :

Director

Date of Birth/Age :

31.05.1980

Date of Appointment :

21.09.2012

KEY EXECUTIVES

Name :	Mr. Abhishek Agrawal
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2014

Category of Shareholder	No. of Shares	% of Holdings
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	13005121	61.91
Sub Total	13005121	61.91
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	13005121	61.91
(B) Public Shareholding
(1) Institutions
Insurance Companies	414985	1.98
Sub Total	414985	1.98
(2) Non-Institutions
Bodies Corporate	3790543	18.04
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	2855597	13.59
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	236444	1.13
Any Others (Specify)	703560	3.35
Clearing Members	468010	2.23
NRIs/OCBs	235550	1.12
Sub Total	7586144	36.11
Total Public shareholding (B)	8001129	38.09
Total (A)+(B)	21006250	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued
(1)	0	0.00
(2)	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	21006250	0.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the Manufacturing of Black and G.I. Pipe, C.R. Sheet / Coil, G.P.G.C. Sheet / Coil, C.R.C.A. Sheet / Coil, Structures, Poles, Stainless / Mild / Alloy steel forgings and flanges, Bright Bars, ERW Tube and CDW Tubes, etc.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

No. of Employees :

Not Available

Bankers :

• HDFC Bank
• Ing Vysya Bank
• Bank of Baroda
• Axis Bank Limited
• State Bank of India
• Union Bank of India
• Standard Chartered Bank

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
From State Bank of India	19.100	99.500
From Axis Bank	273.909	223.859
SHORT TERM BORROWINGS
From Banks (Working capital loan)	2249.891	2190.818
From others	14.639	0.000
Total	2557.539	2514.177
NOTE: LONG TERM BORROWINGS Term loan are secured by way of first charge on fixed assets of the Company located at A-45, A-42 and A-51 Industrial Area, Sikandrabad, Distt. Bulandshahr and Plot No. 2839 Dhoom Manikpur, Dadri. Term loan are further secured by way of second charge on entire current assets of the Company , both present and future and personal guarantee of the directors of the Company and their relatives. SHORT TERM BORROWINGS Working capital limits comprising of Cash credit Limits / Export credit Limits / Bills discounted are secured by first charge on entire current assets of the Company including stocks of raw-materials, work-in-progress, stock lying in godown and ports, finished goods and book debts both present and future. Working capital limits are further secured by way of second charge on entire fixed assets of the Company, equitable mortgage of two immovable properties belonging to the directors of the Company and their relatives, situated at Plot No. II -F - 166 and II - F-167 , Nehru Nagar , Ambedkar Road, Ghaziabad and personal guarantee of the directors of the Company and their relatives.

Auditors :
Name :	Sanjeev Anand and Associates Chartered Accountants
Address :	77, Navyug Market, Ghaziabad - 201001, Uttar Pradesh, India
PAN No.:	AAPFS7604B
Memberships :	Not Available
Collaborators :	Not Available
Enerprises over which key management personnel are able to exercise significant influence :	R.A. Garments LLP Shri Jee Housing Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital : Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital : Rs.44.013 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.2/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
19921250	Equity Shares	Rs.2/- each	Rs.39.843 Millions

The details of shareholders holding more than 5 % shares :

Particulars	No. of shares	% of holdings
Venus Insec Private Limited	1200000	6.02
Mr. Nitin Garg	1486750	7.46

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	39.843	37.443	37.443
(b) Reserves & Surplus	1401.684	1150.532	940.698
(c) Money received against share warrants	18.988	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1460.515	1187.975	978.141
(3) Non-Current Liabilities
(a) long-term borrowings	389.219	433.572	418.412
(b) Deferred tax liabilities (Net)	144.612	118.586	82.806
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	9.808	6.046	3.886
Total Non-current Liabilities (3)	543.639	558.204	505.104
(4) Current Liabilities
(a) Short term borrowings	2264.530	2190.818	1856.840
(b) Trade payables	630.885	413.356	187.269
(c) Other current liabilities	272.411	259.941	174.590
(d) Short-term provisions	84.013	83.084	95.856
Total Current Liabilities (4)	3251.839	2947.199	2314.555
TOTAL	5255.993	4693.378	3797.800
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1243.317	1165.897	799.016
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	123.678	2.272	167.962
(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	77.370	69.660	87.431
(e) Other Non-current assets	21.461	21.461	0.000
Total Non-Current Assets	1465.826	1259.290	1054.409
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1373.969	1155.044	1024.516
(c) Trade receivables	1879.449	1831.768	1315.757
(d) Cash and cash equivalents	78.784	65.435	56.904
(e) Short-term loans and advances	457.965	381.841	346.214
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	3790.167	3434.088	2743.391
TOTAL	5255.993	4693.378	3797.800

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	9754.265	9532.435	6790.480
		Other Income	266.259	241.202	144.361
		TOTAL (A)	10020.524	9773.637	6934.841
Less	EXPENSES
		Cost of Materials Consumed	7659.319	7256.804	5398.826
		Purchases of Stock-in-Trade	12.861	295.580	3.201
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(129.639)	(138.162)	(129.897)
		Employees benefits expense	343.455	295.911	232.994
		Other expenses	1424.683	1320.889	898.625
		TOTAL (B)	9310.679	9031.022	6403.749
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		709.845	742.615	531.092
Less	FINANCIAL EXPENSES (D)		353.815	344.088	192.125
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		356.030	398.527	338.967
Less/ Add	DEPRECIATION/ AMORTISATION (F)		75.613	70.552	52.143
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.227	(1.551)	5.949
Less	TAX (H)		280.190	329.526	280.875
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		103.047	110.102	79.751
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		904.817	734.093	581.673
Less	APPROPRIATIONS
		Transfer to General Reserve	30.000	40.000	40.000
		Dividend	6.000	7.500	7.489
		Tax on Dividend	1.000	1.200	1.215
	BALANCE CARRIED TO THE B/S		1044.960	904.817	734.093
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	3620.565	3525.019	1834.265
	TOTAL EARNINGS		3620.565	3525.019	1834.265
	IMPORTS
		Raw Materials	0.000	0.000	4.147
		Stores & Spares	0.017	0.387	0.083
		Capital Goods	6.232	16.129	1.754
	TOTAL IMPORTS		6.249	16.516	5.984
	Earnings / (Loss) Per Share (Rs.)		9.46	11.72	10.74

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	1.06	1.15	1.17
Operating Profit Margin (PBDIT/Sales)	(%)	7.28	7.79	7.82
Return on Total Assets (PBT/Total Assets}	(%)	5.46	7.02	7.74
Return on Investment (ROI) (PBT/Networth)		0.19	0.28	0.29
Debt Equity Ratio (Total Debts/Networth)		1.82	2.21	2.33
Current Ratio (Current Asset/Current Liability)		1.17	1.17	1.19

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	37.443	37.443	39.843
Reserves & Surplus	940.698	1150.532	1401.684
Money received against share warrants	0.000	0.000	18.988
Net worth	978.141	1187.975	1460.515
long-term borrowings	418.412	433.572	389.219
Short term borrowings	1856.840	2190.818	2264.530
Total borrowings	2275.252	2624.390	2653.749
Debt/Equity ratio	2.326	2.209	1.817

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	6790.480	9532.435	9754.265
		40.379	2.327

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	6790.480	9532.435	9754.265
Profit	201.124	219.424	177.143
	2.96%	2.30%	1.82%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--------
22]	Litigations that the firm / promoter involved in	--------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--------
26]	Buyer visit details	--------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10555498	03/02/2015	100,000,000.00	HDFC BANK LIMITED	E-13/29, IIND FLOOR, HARSHA BHAVAN, MIDDLE CIRCLE,  CONNAUGHT PLACE, NEW DELHI, Delhi - 110001, INDIA	C46907150
2	10450129	03/03/2014 *	650,000,000.00	Axis Bank Limited	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,  NEW DELHI, Delhi - 110001, INDIA	C00624668
3	10337940	06/08/2012 *	1,275,400,000.00	State Bank of India	Commercial Branch, M-47, Connaught Circus, New Delhi, Delhi - 110001, INDIA	B56656705
4	10332640	24/08/2012 *	665,000,000.00	ING VYSYA BANK LIMITED	NARIAN MANZIL,GROUND FLOOR,SHOP NO. G1 TO G5, I FLOOR,SHOP NO.1001 TO 1007,BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA	B58175225
5	10305178	04/09/2014 *	220,000,000.00	AXIS BANK LTD.	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,  NEW DELHI, Delhi - 110001, INDIA	C20376075
6	10305180	04/09/2014 *	272,800,000.00	AXIS BANK LTD.	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,  NEW DELHI, Delhi - 110001, INDIA	C20378691
7	10282842	04/09/2014 *	207,800,000.00	AXIS BANK LTD.	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,  NEW DELHI, Delhi - 110001, INDIA	C20383220
8	10234980	09/01/2015 *	2,943,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH NEW DELHI , SECOND FLOOR, NEW DELHI MAIN BRANCH 11, PARLIAMENT STREET, NEW DELHI,  Delhi - 110001, INDIA	C45091337
9	80001366	26/02/2013 *	2,776,500,000.00	ING VYSYA BANK LIMITED	30 & 31NAVYUG MARKET, P.B.NO.75, GHAZIABAD, Uttar Pradesh - 201001, INDIA	B72569684

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
From related parties	54.853	92.313
From others	41.357	17.900

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE MONTHS ON 31.12.2014

[RS. IN MILLIONS]

PARTICULARS	3 Months Ended		9 Months Ended
	31.12.2014 [Unaudited]	30.09.2014 [Unaudited]	31.12.2014 [Unaudited]
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	2560.992	2699.484	8096.623
b) Other operating income	55.257	58.492	177.049
Total Income from Operations (net)	2616.249	2757.976	8273.672
2.Expenditure
Cost of material consumed	1885.306	2086.060	6072.031
Purchases of Stock-in-Trade	3.133	0.073	4.725
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	79.913	(8.273)	188.683
Employees benefits expense	96.277	94.706	278.185
Depreciation	14.815	29.518	70.694
Other expenses	353.079	377.977	355.891
Total expenses	2432.523	2580.061	7728.456
3. Profit from operations before other income, and financial costs and Exceptional Items (1-2)	183.726	177.915	545.216
4. Other income	3.079	3.746	10.872
5. Net profit/(loss) from ordinary activities after finance costs but before exceptional items	186.805	181.661	556.088
9. Finance Costs	87.140	89.836	274.068
10. Profit from ordinary activities after finance costs but before Exceptional Items	99.665	91.825	282.020
11.Exceptional Items	0.000	0.000	0.000
12.Net Profit / (Loss) from ordinary activities before tax	99.665	91.825	282.020
13. Tax Expenses (including deferred taxes)	25.758	25.800	78.258
14. Net Profit / (Loss) from ordinary activities after tax	73.907	66.025	203.762
15. Extraordinary Items	0.000	0.000	0.000
16. Prior period adjustment	(0.114)	3.210	3.079
17. Net Profit / (Loss) for the period	73.793	69.235	206.841
18. Paid up Equity Share Capital (Face value Rs. 2 per Share)	42.013	42.013	42.013
19. Reserve excluding revalution reserves (as per the balalnce sheet) of previous accounting year.	--	--	--
20. Earning Per Share (not annualized) (in Rs.) Before or After Extra Ordinary Items
(a) Basic	3.52	3.30	9.96
(b) Diluted	3.52	3.30	9.96
A. PARTICULARS OF SHAREHOLDING
1. Public Shareholding
- Number of shares	8001129	7577635	8001129
- Percentage of shareholding	38.09%	36.07%	38.09%
2. Promoters and Promoters group Shareholding
a) Pledged /Encumbered
Number of shares	Nil	Nil	Nil
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	NA	NA	NA
Percentage of shares (as a % of total share capital of the company)	NA	NA	NA
b) Non Encumbered
Number of shares	13005121	13428615	13005121
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	100%	100%	100%
Percentage of shares (as a % of total share capital of the company)	61.91%	63.93%	61.91%

	PARTICULARS	3 Months Ended 31.12.2014
B	Investor complaints (Nos.)
	Pending at the beginning of the quarter	NIL
	Received during the Quarter	NIL
	Disposed of during the quarter	NIL
	Remaining unresolved at the end of the quarter	NIL

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

FOR THE QUARTER ENDED 31^ST DECEMBER 2014.

(Rs. in millions)

Sr. No.	Particulars	As at quarter ended 31.12.2014	As at quarter ended 30.09.2014	Nine months ended on 31.12.2014
		Unaudited	Unaudited	Unaudited
A	Segment Revenue
	a) Pipe/Sheet/Structure	2154.966	2196.271	6719.211
	b) Engineering Goods	461.888	561.996	1555.424
	Total	2616.854	2758.267	8274.635
	Less: Inter Segments Revenue	0.605	0.292	4.283
	Net sales/Income From
B	Segment Results
	a) Pipe/Sheet/Structure	158.008	148.302	446.691
	b) Engineering Goods	25.717	29.613	98.524
	Total	183.725	177.915	545.215
	Add: i) Un-allocable income	3.080	3.746	10.873
	Less: Finance Cost	87.140	89.836	96.470
	Add :Other Net Unallocable Income / (Expenses)	0.000	0.000	0.000
	Total Profit Loss Before Taxation	99.665	91.825	282.020
C	Capital Employed (Segment Assets - Segment Liabilities)
	a) Pipe/Sheet/Structure	4230.405	3951.768	4230.405
	b) Engineering Goods	910.127	879.528	910.127
	Total	5140.532	4831.296	5140.532

FIXED ASSETS

• Land
• Factory Buildings
• Furniture and Fixture
• Plant and Machinery
• Office Equipments
• Vehicles

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. 62.29
UK Pound	1	Rs. 93.02
Euro	1	Rs. 67.36

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.