MIRA INFORM REPORT

Report No. :	349418
Report Date :	17.11.2015

IDENTIFICATION DETAILS

Name :	MAHINDRA INTERTRADE LIMITED
Formerly Known As :	MAHINDRA EXPORTS LIMITED
Registered Office :	Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra
Mob. No.:	91-22-24905514
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.03.1978
Com. Reg. No.:	11-020222
Capital Investment / Paid-up Capital :	Rs.166.000 Million
CIN No.: [Company Identification No.]	U51900MH1978PLC020222
IEC No.:	0388124946
TAN No.: [Tax Deduction & Collection Account No.]	MUMM20515F
PAN No.: [Permanent Account No.]	AAACM4745P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing, Processing and Selling of Steel Products, Automotive and Electrical Steel Sheets.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (62)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Mahindra Intertrade Limited (MIL) is a wholly owned subsidiary of “Mahindra and Mahindra Limited” having fine track. It was incorporated in the year 1978 and it operates India’s largest network of steel service centres across automotive, power and home appliance verticals. For the financial year ended 2014, the company possesses healthy revenue profile with increase in net profitability by recording Rs. 643.700 million as against previous year (2013) of Rs. 567.000 million. Moreover, company possesses strong financial risk profile as evident from its robust capital structure with healthy return indicators, ample liquidity position and zero debt balance sheet profile of the company. Rating further derives strength from its established position with strong brand image in its automotive business and well-experienced promoters in the industry. Trade relations are trustworthy. Payment terms are reported to be regular and as per commitments. In view of strong financial position and experienced promoters, the company can be considered good for normal 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	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	ICRA
Rating	Long term bank facilities = AA+
Rating Explanation	High degree of safety and very low credit risk.
Date	March, 2015

Rating Agency Name	ICRA
Rating	Short term bank facilities = A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	March, 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 31-03-2015.

INFORMATION DECLINED

MANAGEMENT NON CO-OPERATIVE

(TEL. No.: 91-22-24905514)

LOCATIONS

Registered/ Head Office :	Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra, India
Tel. No.:	91-22-24905514/ 24935203 / 24935185 / 86
Fax No.:	91-22-24951236/ 1872
E-Mail :	intertradeworli@vsnl.com mahindra.anand@mahindra.com doshi.bharat@mahindra.com murti.raghu@mahindra.com kumar.harsh@mahindra.com goenka.pawan@mahindra.com contact.mil@mahindra.com
Website :	http://www.mahindraintertrade.com
Regional Offices :	Located At: · Delhi Chennai
Factory 1 :	At and Post Gonde, Taluka Igatpuri District Nashik – 422403, Maharashtra, India
E-mail :	contact.miln@mahindra.com
Factory 2 :	132 KV/2, GIDC Savli Industrial Estate, Manjusar, Taluka Savli District Vadodara – 391770, Gujarat, India
E-mail :	contact.miln@mahindra.com
Branch Offices :	Located at: New Delhi Kolkata Chennai Secunderabad Bangalore

DIRECTORS

AS ON 23.06.2014

Name :

Mr. Bharat Narotam Doshi

Designation :

Director

Address :

8, St. Helen's Court,, Peddar Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

12.06.1949

Qualification :

B. Com., LLM, FCA, FCS, PMD (Harvard)

Date of Appointment :

27.12.1990

DIN No.:

00012541

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	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	27/12/1990	27/12/1990	-	Active	NO
2	L65921MH1991PLC059642	MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED	Director	22/07/2006	30/03/1992	-	Active	NO
3	L65990MH1945PLC004558	MAHINDRA AND MAHINDRA LIMITED	Director	08/08/2014	28/08/1992	07/08/2015	Active	NO
4	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Nominee director	15/01/1993	15/01/1993	30/04/2008	Active	NO
5	U65910MH1985PLC036060	MAHINDRA HOLDINGS & FINANCE LIMITED	Director	03/03/1995	03/03/1995	-	Amalgamated	NO
6	U80210MH1993NPL073071	THE MAHINDRA UNITED WORLD COLLEGE OF INDIA	Director	19/02/1996	19/02/1996	-	Active	NO
7	L64200MH1986PLC041370	TECH MAHINDRA LIMITED	Director	26/09/2013	06/06/1997	28/07/2015	Active	NO
8	U65991MH1995PTC095500	FRANKLIN TEMPLETON TRUSTEE SERVICES PRIVATE LIMITED	Director	14/08/1998	14/08/1998	21/03/2009	Active	NO
9	U72200MH1999PLC122456	NSE IT LIMITED	Director	14/07/2014	03/02/2000	23/01/2015	Active	NO
10	L24246MH2000PLC129806	GODREJ CONSUMER PRODUCTS LIMITED	Director	26/09/2014	01/04/2001	-	Active	NO
11	U63040MH1994PLC079098	MAHINDRA TRUCKS AND BUSES LIMITED	Director	14/07/2006	11/01/2006	27/04/2013	Active	NO
12	U65922MH2007PLC169791	MAHINDRA RURAL HOUSING FINANCE LIMITED	Director	18/07/2008	09/04/2007	13/01/2009	Active	NO
13	U65993MH2007PLC175649	MAHINDRA HOLDINGS LIMITED	Director	29/07/2008	02/11/2007	-	Active	NO
14	U35914MH2007PTC169753	MAHINDRA HEAVY ENGINES PRIVATE LIMITED	Director	31/07/2008	31/01/2008	27/04/2013	Active	NO
15	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	14/06/2008	14/06/2008	23/06/2012	Active	NO
16	U92190MH2008PLC178894	MUMBAI MANTRA MEDIA LIMITED	Director	08/09/2009	29/10/2008	29/03/2010	Active	NO
17	U24211MH1987PLC043137	GODREJ HOUSEHOLD PRODUCTS LIMITED	Director	28/05/2010	28/05/2010	-	Amalgamated	NO
18	U93090MH2010NPL201145	INDIAN COUNCIL ON GLOBAL RELATIONS	Director	28/09/2011	25/08/2010	-	Active	NO

Name :

Mr. Pravin Nagindas Shah

Designation :

Director

Address :

41/42, Sailesh, Plot No.94a, Linking Road, Tps 2, Santacruz (West), Mumbai - 400054, Maharashtra, India

Date of Birth/Age :

14.05.1954

Qualification :

B. Com, C. A.

Date of Appointment :

24.07.2007

DIN No.:

00056173

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	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	24/07/2007	25/10/2006	Active	NO
2	U34100MH2007PLC171151	MAHINDRA VEHICLE MANUFACTURERS LIMITED	Director	28/07/2012	25/01/2012	Active	NO
3	U34100MH2005PTC153702	MAHINDRA AUTOMOBILE DISTRIBUTOR PRIVATE LIMITED	Director	28/07/2012	25/01/2012	Active	NO
4	U34101KA1996PTC020195	MAHINDRA REVA ELECTRIC VEHICLES PRIVATE LIMITED	Director	18/07/2012	28/01/2012	Active	NO
5	U18101MH1995PLC095482	NBS INTERNATIONAL LIMITED	Director	29/07/2015	02/05/2015	Active	NO

Name :

Mr. Sudhir Gunvantray Mankad

Designation :

Director

Address :

Plot No. 192, Sector-8-C, Gandhinagar, Gandhinagar - 382007, Gujarat, India

Date of Appointment :

23.06.2014

DIN No.:

00086077

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	L24110GJ1976PLC002903	GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS LIMITED	Nominee director	31/03/2005	31/03/2005	31/08/2007	Active	NO
2	L24110GJ1973PLC002247	GUJARAT ALKALIES AND CHEMICALS LIMITED	Director	01/04/2005	01/04/2005	01/09/2007	Active	NO
3	L99999GJ1962PLC001121	GUJARAT STATE FERTILIZERS & CHEMICALS LIMITED	Nominee director	01/04/2005	01/04/2005	03/09/2007	Active	NO
4	U45200GJ1988SGC010493	SARDAR SAROVAR NARMADA NIGAM LIMITED	Director	29/04/2005	29/04/2005	31/08/2007	Active	NO
5	U65929GJ2007PLC051160	GUJARAT INTERNATIONAL FINANCE TEC-CITY COMPANY LIMITED	Director	22/09/2008	28/06/2007	-	Active	NO
6	U40102GJ2007SGC051396	BHAVNAGAR ENERGY COMPANY LIMITED	Director	31/12/2008	01/09/2007	13/08/2015	Active	NO
7	U80220MH1997PLC112535	IL & FS EDUCATION & TECHNOLOGY SERVICES LIMITED	Director	05/08/2008	20/12/2007	-	Active	NO
8	U65993GJ2008PLC053818	GIFT COLLECTIVE INVESTMENT MANAGEMENT COMPANY LIMITED	Director	07/05/2008	07/05/2008	06/12/2011	Active	NO
9	L24110GJ1970PLC001735	DEEPAK NITRITE LIMITED	Director	08/08/2014	13/05/2009	-	Active	NO
10	L65923GJ1986PLC008809	GRUH FINANCE LIMITED	Director	01/04/2014	14/01/2010	-	Active	NO
11	L17110GJ1935PLC000494	SHRI DINESH MILLS LIMITED	Director	15/09/2011	10/02/2011	31/07/2013	Active	NO
12	L24110MH1998PLC115499	NAVIN FLUORINE INTERNATIONAL LIMITED	Director	25/06/2014	29/04/2011	-	Active	NO
13	U80904DL2011PLC213135	IL&FS SKILLS DEVELOPMENT CORPORATION LIMITED	Director	21/09/2011	28/07/2011	-	Active	NO
14	L23203GJ1980PLC003623	GUJARAT GAS COMPANY LIMITED	Director	26/04/2012	10/01/2012	07/05/2013	Active	NO
15	L50210PB1985PLC006473	SWARAJ ENGINES LTD	Director	30/07/2013	31/07/2012	-	Active	NO
16	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	23/06/2014	31/07/2012	-	Active	NO
17	U74120MH2012PLC230380	NATIONAL SECURITIES DEPOSITORY LIMITED	Director	24/09/2014	14/09/2012	-	Active	NO
18	U75131GJ2001PLC040281	NATIONAL MULTI-COMMODITY EXCHANGE OF INDIA LIMITED	Additional director	09/09/2013	09/09/2013	02/04/2014	Active	NO

Name :

Mr. Rajeev Bidyanand Dubey

Designation :

Director

Address :

1701 Mahindra Heights, 96 Tardeo Road, Mumbai - 400034, Maharashtra, India

Date of Birth/Age :

03.04.1954

Qualification :

B.A., M.A., MBA (Yale)

Date of Appointment :

25.02.2004

DIN No.:

00104817

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	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	25/02/2004	25/02/2004	-	Active	NO
2	U74999MH2000PLC126610	OFFICEMART INDIA .COM LIMITED	Director	10/03/2004	10/03/2004	16/11/2010	Active	NO
3	U65990MH1987PLC042609	MAHINDRA INSURANCE BROKERS LIMITED	Director	03/08/2004	03/08/2004	-	Active	NO
4	U64200MH1994PLC083996	MAHINDRA FIRST CHOICE WHEELS LIMITED	Director	01/12/2004	01/12/2004	-	Active	NO
5	L99999MH1962PLC012542	MAHINDRA UGINE STEEL COMPANY LIMITED	Director	20/10/2006	20/10/2006	23/01/2009	Amalgamated	NO
6	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Nominee director	24/07/2007	08/11/2006	-	Active	NO
7	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	20/08/2008	03/09/2007	-	Active	NO
8	U74990MH2007PLC174898	WALCHAND TALENTFIRST LIMITED	Director	21/04/2008	31/12/2007	-	Amalgamated	NO
9	U35999MH2008PLC180385	MAHINDRA FIRST CHOICE SERVICES LIMITED	Director	22/07/2009	24/03/2008	-	Active	NO
10	U91110MH2001NPL130853	MAGIC BUS INDIA FOUNDATION	Director	26/09/2008	12/09/2008	-	Active	NO
11	U52399MH2008PTC187927	MAHINDRA INTERNET COMMERCE PRIVATE LIMITED	Director	01/09/2009	03/11/2008	17/12/2014	Active	NO
12	U27100MH2009PTC193205	MAHINDRA ELECTRICAL STEEL PRIVATE LIMITED	Director	29/09/2010	10/06/2009	-	Active	NO
13	L65993MH1920PLC000791	WALCHAND PEOPLEFIRST LIMITED	Director	30/07/2014	07/05/2010	-	Active	NO
14	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	23/06/2012	23/06/2012	16/06/2014	Active	NO
15	U27100MH2013PTC250979	MAHINDRA AUTO STEEL PRIVATE LIMITED	Director	12/12/2013	12/12/2013	-	Active	NO
16	U93000MH2013NPL251507	MAHINDRA 'ELECTORAL TRUST' COMPANY	Additional director	10/02/2014	10/02/2014	18/11/2014	Active	NO

Name :

Mr. Zhooben Dosabhoy Bhiwandiwala

Designation :

Whole-Time Director

Address :

S-13, Cusrow Baug, Shahid Bhagat Singh Road, Colaba, Mumbai - 400039, Maharashtra, India

Date of Birth/Age :

09.12.1959

Qualification :

B. Com., C. A.

Date of Appointment :

17.01.2014

DIN No.:

00110373

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	U51900MH1988PTC046152	ALBERTVILLE EXPORTS PRIVATE LIMITED	Director	08/02/1988	08/02/1988	01/02/2014	Dormant	NO
2	U22120MH1948PTC009314	THE INDIAN AND EASTERN ENGINEER COMPANY PRIVATE LIMITED	Additional director	10/08/2009	20/01/1992	-	Active	NO
3	U74140MH1992PLC066606	MAHINDRA AND MAHINDRA CONTECH LIMITED	Director	22/02/1993	22/02/1993	27/05/2008	Active	NO
4	U74140MH1982PTC026770	PRUDENTIAL MANAGEMENT AND SERVICES PVT LTD	Director	12/01/1998	12/01/1998	05/05/2010	Active	NO
5	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Whole-time director	17/01/2014	17/02/2000	-	Active	NO
6	U74999MH1999PTC121254	MW COM (INDIA)PRIVATE LIMITED	Director	06/10/2003	06/10/2003	29/03/2010	Active	NO
7	U30007MH1991PLC064368	BRISTLECONE INDIA LIMITED	Director	05/08/2004	05/08/2004	05/06/2008	Active	NO
8	L27100MH1999PLC121285	MAHINDRA CIE AUTOMOTIVE LIMITED	Director	29/09/2014	28/04/2006	-	Active	NO
9	U18101MH1995PLC095482	NBS INTERNATIONAL LIMITED	Director	28/09/2007	15/11/2006	29/10/2008	Active	NO
10	U67120MH2007PLC168985	MAHINDRA STOKES HOLDING COMPANY LIMITED	Director	24/09/2007	21/03/2007	-	Amalgamated	NO
11	U74999MH1954PLC019908	MAHINDRA ENGINEERING AND CHEMICAL PRODUCTS LIMITED	Director	25/09/2008	27/08/2007	19/07/2012	Active	NO
12	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	20/08/2008	03/09/2007	-	Active	NO
13	U74999MH1995PLC093447	TECPRO ASHTECH LIMITED	Additional director	05/11/2007	05/11/2007	05/01/2008	Amalgamated	NO
14	U29130MH2004PTC168150	MAHINDRA GEARS & TRANSMISSIONS PRIVATE LIMITED	Director	22/07/2008	24/12/2007	28/07/2014	Active	NO
15	U29299MH1963PLC019745	MAHINDRA HINODAY INDUSTRIES LIMITED	Director	06/05/2008	22/01/2008	-	Amalgamated	NO
16	U27100MH2007PLC173636	MAHINDRA HINODAY INDUSTRIES LIMITED	Director	25/07/2008	22/01/2008	04/10/2013	Amalgamated	NO
17	U63032MH2008PTC186581	MAHINDRA MARINE PRIVATE LIMITED	Director	25/09/2009	09/09/2008	-	Active	NO
18	U67110MH2008PLC188837	RETAIL INITIATIVE HOLDINGS LIMITED	Director	11/12/2009	11/12/2008	16/08/2011	Active	NO
19	U35911MH2008PLC185462	MAHINDRA TWO WHEELERS LIMITED	Director	12/08/2009	12/12/2008	30/09/2014	Active	NO
20	U73100MH1995PTC124707	OWENS-CORNING (INDIA) PRIVATE LIMITED	Director	26/09/2009	01/04/2009	24/11/2010	Active	NO
21	U63000MH2007PLC173466	MAHINDRA LOGISTICS LIMITED	Director	11/08/2009	28/04/2009	-	Active	NO
22	U29268MH2009PLC190702	DEFENCE LAND SYSTEMS INDIA LIMITED	Director	26/04/2010	29/04/2009	27/04/2010	Active	NO
23	U27100MH2009PTC193205	MAHINDRA ELECTRICAL STEEL PRIVATE LIMITED	Director	29/09/2010	10/06/2009	20/08/2014	Active	NO
24	U92190MH2008PLC178894	MUMBAI MANTRA MEDIA LIMITED	Director	30/09/2010	29/03/2010	-	Active	NO
25	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Director	22/07/2010	29/04/2010	31/03/2015	Active	NO
26	U55100DL2011PTC222498	EKATRA HOSPITALITY VENTURES PRIVATE LIMITED	Director	18/07/2011	18/07/2011	-	Active	NO
27	U65993MH2007PLC175649	MAHINDRA HOLDINGS LIMITED	Director	29/08/2011	18/07/2011	-	Active	NO
28	U74899DL1989PLC038453	M. A. R. K. HOTELS LIMITED	Director	30/09/2011	30/09/2011	07/08/2014	Under liquidation	NO
29	U75144MH2012PTC231267	MAHINDRA DEFENCE NAVAL SYSTEMS PRIVATE LIMITED	Director	18/05/2012	18/05/2012	-	Active	NO
30	U75220MH2012PLC233889	MAHINDRA DEFENCE SYSTEMS LIMITED	Director	30/07/2012	30/07/2012	-	Active	NO
31	U40101MH2010PTC205236	MAHINDRA SOLAR ONE PRIVATE LIMITED	Director	10/12/2013	27/09/2012	24/09/2014	Active	NO
32	U92412MH2011PTC224530	EPIC TELEVISION NETWORKS PRIVATE LIMITED	Nominee director	03/10/2013	04/12/2012	-	Active	NO
33	U75302MH2013PLC242268	MAHINDRA TELEPHONICS INTEGRATED SYSTEMS LIMITED	Director	22/04/2013	22/04/2013	-	Active	NO
34	U40300MH2012PTC226017	MAHINDRA SURYAPRAKASH PRIVATE LIMITED	Director	10/12/2013	24/05/2013	24/09/2014	Active	NO
35	U92412MH2013PTC248414	SCRIPT STORIES MEDIA PRIVATE LIMITED	Nominee director	24/03/2015	03/10/2013	-	Active	NO
36	U74900DL2013PTC258148	CINESTAAN ENTERTAINMENT PRIVATE LIMITED	Director	22/10/2014	22/10/2013	-	Active	NO
37	U92412DL2013PTC258232	CINESTAAN FILM COMPANY PRIVATE LIMITED	Director	22/10/2014	22/10/2013	-	Active	NO
38	U72300DL2013PTC258259	CINESTAAN DIGITAL PRIVATE LIMITED	Director	22/10/2014	22/10/2013	-	Active	NO
39	U27100MH2013PTC250979	MAHINDRA AUTO STEEL PRIVATE LIMITED	Director	12/12/2013	12/12/2013	-	Active	NO
40	U93000DL2013NPL262366	I-PROBONO (INDIA) LEGAL SERVICES	Director	18/12/2013	18/12/2013	30/09/2014	Active	NO
41	U93000MH2013NPL251507	MAHINDRA 'ELECTORAL TRUST' COMPANY	Additional director	10/02/2014	10/02/2014	22/12/2014	Active	NO
42	U29268MH2010PTC198438	MAHINDRA TSUBAKI CONVEYOR SYSTEMS PRIVATE LIMITED	Director	31/07/2014	31/07/2014	-	Active	NO
43	U74120MH2014NPL258367	NEW DEMOCRATIC ELECTORAL TRUST	Director	26/09/2014	26/09/2014	24/11/2014	Active	NO

Name :

Mr. Parag Chandulal Shah

Designation :

Director

Address :

7 Kailas, 50 Pedder Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

25.11.1975

Qualification :

BS (Computer Engineering), PMD (Harvard)

Date of Appointment :

22.07.2011

DIN No.:

00374944

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	U01110MH1983PTC029216	INDIRA AGRICULTURAL FARM PRIVATE LIMITED	Director	04/09/1996	04/09/1996	-	Active	NO
2	U67190MH1987PTC042205	SHAH AND GALA FINANCE CONSULTANTS PRIVATE LIMITED	Director	02/05/1997	02/05/1997	-	Strike off	NO
3	U51900MH1985PTC037329	SYSTEMS MARKETING (INDIA) PRIVATE LIMITED	Director	02/05/1997	02/05/1997	-	Strike off	NO
4	U25209MH1998PTC116707	C J INDUSTRIES PRIVATE LIMITED	Director	29/09/1998	29/09/1998	-	Active	NO
5	U27100MH1981PTC025565	HYD-AIR MAGNETS PRIVATE LIMITED	Director	24/05/2007	24/05/2007	-	Strike off	NO
6	U63032MH2008PTC186581	MAHINDRA MARINE PRIVATE LIMITED	Director	25/09/2009	09/09/2008	-	Active	NO
7	U35911MH2008PLC185462	MAHINDRA TWO WHEELERS LIMITED	Director	12/08/2009	29/09/2008	21/10/2014	Active	NO
8	U52399MH2008PTC187927	MAHINDRA INTERNET COMMERCE PRIVATE LIMITED	Director	01/09/2009	03/11/2008	05/03/2015	Active	NO
9	U63000MH2007PLC173466	MAHINDRA LOGISTICS LIMITED	Director	11/08/2009	28/04/2009	-	Active	NO
10	U52190MH2007PTC173762	MAHINDRA RETAIL PRIVATE LIMITED	Director	10/08/2010	03/11/2009	-	Active	NO
11	U29268MH2010PTC198438	MAHINDRA TSUBAKI CONVEYOR SYSTEMS PRIVATE LIMITED	Director	23/06/2011	04/01/2010	31/07/2014	Active	NO
12	U40101MH2010PTC205236	MAHINDRA SOLAR ONE PRIVATE LIMITED	Director	16/09/2011	04/07/2010	-	Active	NO
13	U22120MH1948PTC009314	THE INDIAN AND EASTERN ENGINEER COMPANY PRIVATE LIMITED	Additional director	09/07/2010	09/07/2010	-	Active	NO
14	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	22/07/2011	22/07/2010	-	Active	NO
15	U40300MH2010PTC205946	MAHINDRA RENEWABLES PRIVATE LIMITED	Director	26/07/2010	26/07/2010	22/10/2014	Active	NO
16	U74990MH2010PTC207854	MAHINDRA SUSTEN PRIVATE LIMITED	Additional director	09/10/2015	19/09/2010	-	Active	NO
17	U67110MH2008PLC188837	RETAIL INITIATIVE HOLDINGS LIMITED	Director	29/09/2011	13/08/2011	-	Active	NO
18	U40300MH2012PTC226017	MAHINDRA SURYAPRAKASH PRIVATE LIMITED	Director	10/12/2013	27/09/2012	-	Active	NO
19	U40103MH2012PTC226016	MAHINDRA SURYAURJA PRIVATE LIMITED	Director	27/09/2012	27/09/2012	-	Active	NO
20	U80302MH2010PTC198303	MAHINDRA NAMASTE PRIVATE LIMITED	Director	23/07/2013	04/02/2013	-	Active	NO
21	U99999MH1939PLC011344	PSL MEDIA & COMMUNICATIONS LIMITED	Director	12/08/2013	24/04/2013	-	Active	NO
22	U74210MH1993PLC074723	MAHINDRA CONSULTING ENGINEERS LIMITED	Director	23/09/2013	06/05/2013	-	Active	NO
23	U40108MH2013PTC250683	BRIGHTSOLAR RENEWABLE ENERGY PRIVATE LIMITED	Director	19/08/2014	03/12/2013	22/10/2014	Active	NO
24	U40108MH2013PTC250684	CLEANSOLAR RENEWABLE ENERGY PRIVATE LIMITED	Director	19/08/2014	03/12/2013	22/10/2014	Active	NO
25	U63030MH2011PTC216628	LORDS FREIGHT (INDIA) PRIVATE LIMITED	Director	14/11/2014	22/10/2014	-	Active	NO

Name :

Mr. Punita Kumar Sinha

Designation :

Director

Address :

51 Gate House Road, Newton Ma, Massachusetts - 024671320, United States Of America

Date of Appointment :

27.10.2014

DIN No.:

05229262

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	U93000MH2012PTC229101	FREEDOM ADVISORS PRIVATE LIMITED	Director	02/04/2012	02/04/2012	20/04/2014	Active	NO
2	L27102MH1994PLC152925	JSW STEEL LIMITED	Director	31/07/2014	28/10/2012	-	Active	NO
3	L29219WB1985PLC055352	SREI INFRASTRUCTURE FINANCE LIMITED	Director	02/08/2014	20/05/2013	-	Active	NO
4	L36992MH1948PLC014083	RALLIS INDIA LIMITED	Director	30/06/2014	26/03/2014	-	Active	NO
5	U72900MH2006PLC162656	FINO PAYTECH LIMITED	Director	30/12/2014	31/07/2014	-	Active	NO
6	L22219UP1975PLC004147	JAGRAN PRAKASHAN LIMITED	Director	30/09/2014	30/09/2014	30/03/2015	Active	NO
7	L45201KA1995PLC018475	SOBHA LIMITED	Director	15/07/2015	06/10/2014	-	Active	NO
8	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Director	27/10/2014	27/10/2014	-	Active	NO
9	L65999MH2003PLC250504	SKS MICROFINANCE LIMITED	Director	23/09/2015	23/03/2015	-	Active	NO
10	L72900MH1992PLC069662	HEXAWARE TECHNOLOGIES LIMITED	Director	07/05/2015	26/03/2015	-	Active	NO
11	U35911MH2008PLC185462	MAHINDRA TWO WHEELERS LIMITED	Director	31/03/2015	31/03/2015	-	Active	NO
12	U73100KA2000PLC028246	METAHELIX LIFE SCIENCES LIMITED	Director	16/07/2015	01/04/2015	-	Active	NO

Name :

Mr. Sumit Issar

Designation :

Managing Director

Address :

1B/43 Kalpataru Gardens, Off Akurli Road, Ashok Nagar, Kandivali East, Mumbai - 400101, Maharashtra, India

Date of Appointment :

01.10.2015

DIN No.:

06951249

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	U27100MH2009PTC193205	MAHINDRA ELECTRICAL STEEL PRIVATE LIMITED	Director	28/07/2015	19/08/2014	Active	NO
2	U27100MH1993PLC070416	MAHINDRA STEEL SERVICE CENTRE LIMITED	Managing director	01/10/2015	31/03/2015	Active	NO
3	U51900MH1978PLC020222	MAHINDRA INTERTRADE LIMITED	Managing director	01/10/2015	01/10/2015	Active	NO
4	U27100MH2013PTC250979	MAHINDRA AUTO STEEL PRIVATE LIMITED	Additional director	20/10/2015	20/10/2015	Active	NO

KEY EXECUTIVES

Name :	Mr. Abhishek Juvekar
Designation :	Secretary
Address :	E 103, Marathon cosmos, LBS Road, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	21.07.1982
Date of Appointment :	01.04.2014
PAN No. :	AHFPJ5971M
Name :	Percy Dara Mahernosh
Designation :	Chief Finance Executive
Address :	504 Rahul Apartment II, B Parulekar Marg, Dadar (West), Mumbai - 400028, Maharashtra, India
Date of Appointment :	01.08.2015
PAN No. :	AFBPM4150M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 23.06.2014

Names of Equity Shareholders	No. of Shares
Mahindra and Mahindra Limited, India	* 27100000
Mahindra and Mahindra Limited Jt. with Zhooben Bhiwandiwala	1
Mahindra and Mahindra Limited Jt. with Bharat Doshi	1
Mahindra and Mahindra Limited Jt. with P. N. Shah	1
Mahindra and Mahindra Limited Jt. with Harsh Kumar	1
Mahindra and Mahindra Limited Jt. With Jyoti Walunj	1
Mahindra Holdings Limited, India	1
Mahindra and Mahindra Limited Jt. With Mr. Narayan Shankar	1
Total	27100007

NOTE:

*Out of these shares 15000000 equity shares are partly paid up @ Rs. 3/- per share.

AS ON 23.06.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing, Processing and Selling of Steel Products, Automotive and Electrical Steel Sheets.

Products :

ITC Code No.	Product Descriptions
7208	Flat rolled products hot rolled
7209	Flat rolled products cold rolled
7226	Electrical steel sheets
8504	Transformers and Parts thereof

Brand Names :

--

Agencies Held :

--

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

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 :

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 :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
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

· State Bank of India

Corporate Accounts Group (Central) Madam Cama Road, Nariman Point, Mumbai - 400021, Maharashtra, India

· State Bank of India

Corporate Accounts Group, Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India

Kotak Mahindra Bank Limited

Industrial finance Branch, Poonam Chambers, Gr. Floor, Dr. A.B. Road, Mumbai – 400018, Maharashtra, India

Axis Bank Limited,

Universal Insurance Building, SIR P.M. Road, Fort, Mumbai – 400023, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins And Sells Chartered Accountant
Address :	Tower 3, 27^th -32^nd Floor, Indiabulls Finance Centre, Elphinston Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 4000013, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AABFD7919A
Memberships :	--
Collaborators :	--
Holding Company :	Mahindra and Mahindra Limited, India (CIN No.: L65990MH1945PLC004558)
Subsidiary Companies and Joint Ventures :	· Mahindra Electrical Steel Limited (CIN No.: U27100MH2009PLC193205) Mahindra Middle East Electrical Steel Service Centre FZC Mahindra Steel Service Centre Limited (CIN No.: U27100MH1993PLC070416) Mahindra Auto Private Limited
Fellow Subsidiaries :	· Mahindra Holidays and Resorts India Limited (CIN No.: L55101TN1996PLC036595) Mahindra Navistar Automotives Limited (CIN No.: U63040MH1994PLC079098) Mahindra Ugine Steel Company Limited (CIN No.: L99999MH1962PLC012542) Mahindra Logistics Limited (CIN No.: U63000MH2007PLC173466) Mahindra Retail Private Limited (CIN No.: U52190MH2007PTC173762) Mahindra Vehicle Manufacturers Limited (CIN No.: U34100MH2007PLC171151) NBS International Limited Mahindra Gears Transmission Private Limited Mahindra Sanyo Special Steel Private Limited Mahindra Heavy Engineers Private Limited Mahindra Integrated Business Solution Private Limited (Formerly known as Mahindra BPO Services Private Limited) Mahindra Sona Limited Mahindra Truck and Business Limited (CIN No.: U563040MH1994PLC079098)

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
28000000	Equity Shares	Rs.10/- each	Rs.280.000 Million
1875000	Preference Shares	Rs.100/- each	Rs.187.500 Million
	Total		Rs.467.500 Million

Issued Capital:

No. of Shares	Type	Value	Amount
27100007	Equity Shares	Rs.10/- each	Rs. 271.000 Million

Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount
12100007	Equity Shares (Fully paid-up)	Rs.10/- each	Rs.121.000 Million
15000000	Equity Shares (Not fully paid-up)	Rs.3/- each	Rs.45.000 Million
	Total		Rs.166.000 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	166.000	166.000	166.600
(b) Reserves & Surplus	3284.100	2834.600	2442.300
(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)	3450.100	3000.600	2608.900
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	40.200	50.500	45.500
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	22.500	18.800	13.800
Total Non-current Liabilities (3)	62.700	69.300	59.300
(4) Current Liabilities
(a) Short term borrowings	1.100	1.800	0.000
(b) Trade payables	2110.600	2027.700	1720.600
(c) Other current liabilities	108.600	184.700	276.500
(d) Short-term provisions	229.700	225.900	251.200
Total Current Liabilities (4)	2450.000	2440.100	2248.300
TOTAL	5962.800	5510.000	4916.500
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	493.300	537.300	565.000
(ii) Intangible Assets	0.100	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	555.100	356.000	356.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	28.800	305.800	134.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1077.300	1199.100	1055.000
(2) Current assets
(a) Current investments	60.000	360.100	251.300
(b) Inventories	1274.500	1637.200	1361.500
(c) Trade receivables	1919.900	1612.900	1594.600
(d) Cash and cash equivalents	1359.000	473.100	259.500
(e) Short-term loans and advances	135.000	223.500	371.100
(f) Other current assets	137.100	4.100	23.500
Total Current Assets	4885.500	4310.900	3861.500
TOTAL	5962.800	5510.000	4916.500

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	11546.400	12968.700	13356.000
		Other Income	142.300	76.500	72.300
		TOTAL (A)	11688.700	13045.200	13428.300
Less	EXPENSES
		Cost of Materials Consumed	9622.200	10894.600	10716.300
		Purchases of Stock-in-Trade	673.300	861.100	1111.300
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(12.300)	(80.200)	58.300
		Employees benefits expense	124.600	146.400	86.700
		Other expenses	280.700	301.700	313.600
		TOTAL (B)	10688.500	12123.600	12286.200
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1000.200	921.600	1142.100
Less	FINANCIAL EXPENSES (D)		14.600	30.700	32.900
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		985.600	890.900	1109.200
Less/ Add	DEPRECIATION/ AMORTISATION (F)		59.900	60.900	60.900
	PROFIT BEFORE TAX (E-F) (G)		925.700	830.000	1048.300
Less	TAX (H)		282.000	263.000	342.900
	PROFIT AFTER TAX (G-H) (I)		643.700	567.000	705.400
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2255.000	1919.500	1487.200
Less	APPROPRIATIONS
		Transfer to General Reserve	64.400	56.700	705.000
		Dividend	166.000	149.400	174.300
		Tax on Dividend	28.200	25.400	28.300
		Total	258.600	231.500	907.600
	BALANCE CARRIED TO THE B/S		2640.100	2255.000	1919.500
	TOTAL EARNINGS IN FOREIGN CURRENCY		107.900	126.300	157.100
	Earnings Per Share (Rs.)		38.77	34.16	42.49

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	998.700	845.500	911.900

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	5.57	4.37	5.28
Operating Profit Margin (PBDIT/Sales)	(%)	8.66	7.11	8.55
Return on Total Assets (PBT/Total Assets}	(%)	17.12	16.10	22.99
Return on Investment (ROI) (PBT/Networth)		0.27	0.28	0.40
Debt Equity Ratio (Total Debt/Networth)		0.29	0.28	0.35
Current Ratio (Current Asset/Current Liability)		1.99	1.77	1.72

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	166.600	166.000	166.000
Reserves & Surplus	2442.300	2834.600	3284.100
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	2608.900	3000.600	3450.100
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	1.800	1.100
Total borrowings	0.000	1.800	1.100
Debt/Equity ratio	0.000	0.001	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	13356.000	12968.700	11546.400
		(2.900)	(10.967)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	13356.000	12968.700	11546.400
Profit	705.400	567.000	643.700
	5.28%	4.37%	5.57%

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	No
9	Promoter’s background	No
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	Yes
18	Major suppliers	No
19	Major customers	No
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	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	No
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date :- 24.09.2013

Lodging No: ITXAL/1559/2013 Filing Date: 24.09.2013 Reg. No.: ITXA/2252/2013 Reg. Date: 09.12.2013

Petitioner: COMMISSIONER OF INCOME TAX – 2 Respondent: MAHINDRA INTERTRADE LIMITED

Petn. Adv : SURESH KUMAR ()

District: MUMBAI

Bench: DIVISION

Status: Pre-Admission Category: TAX APPEALS

Next Date: 30.11.2015 Stage: FOR ADMISSION

Last Coram: HONABLE SHRI JUSTIC M. S. SANKLECHA

HONABLE SHRI JUSTIC G. S. KULKARNI

Act: Income Tax Act, 1961 UNDER SECTION: 260A

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10003008	22/02/2011 *	150,000,000.00	AXIS BANK LIMITED	CREDIT MANAGEMENT CENTRE,UNIT NO.6, CORPORATE PA  RK,SION TROMBAY ROAD,CHEMBUR, MUMBAI - 400071, MAHARASHTRA , INDIA	B07750946
2	80059422	28/02/2006	210,000,000.00	DBS BANK LIMITED	3RD FLOOR, FORT HOUSE, 221, DR.D.N.ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	-
3	80058759	20/02/2006	550,000,000.00	HDFC BANK LIMITED	SANDOZ HOUSE, DR.A.B. ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA	-
4	80054061	27/08/2004	450,000,000.00	IDBI BANK LIMITED	224-A MITTAL COURT, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	-
5	80059423	06/10/2000	200,000,000.00	THE BANK OF NOVA SCOTIA	MITTAL TOWERS, B-WING, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	-
6	80020214	01/12/2011 *	1,375,000,000.00	STATE BANK OF INDIA	CORPORATE ACCOUNTS GROUP, NEVILLE HOUSE, J. N. H  EREDIA MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA , INDIA	B28286375

* Date of charge modification

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Other loans and advances	1.100	1.800
Total	1.100	1.800

CORPORATE INFORMATION

The company is a public limited company incorporated on 21 May, 1998 under the Companies Act, 1956. The Company's main activity is steel processing and it has service centres at Nashik and Vadodara. The Company processes automotive and electrical steel.

OPERATIONS

Domestic auto industry remained sluggish throughout the year resulting in subdued demand for processed steel. Transformer industry suffered from muted demand during the year resulting in margins being under pressure.

CURRENT YEAR

The Company expects to sustain its performance in both its verticals, automotive and electrical, during the current year.

AWARDS

The Company has been the recipient of the following awards during the year:

(a) Best employee referral program at the 9th Global Talent Acquisition and RASBIC (Recruitment & Staffing Best- in-Class) Awards

(b) Bronze award from the Public Relations Council of India (PRCI) for our Corporate Audio Visual

(c) Greentech CSR Award from Greentech Foundation for constructing a junior college at Village Wadhiware

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Taxation demand for various assessment years, which is being contested by the Company.	5.500	10.700

FIXED ASSETS:

· Freehold Land

Leasehold Land

Buildings

Office Equipment’s

Computers

Plant and Machinery

Furniture and Fittings

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 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.66.17
UK Pound	1	Rs.100.66
Euro	1	Rs.70.97

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	HNA
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		62

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.